REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2023 |
FOR |
AWEL AMAN TAWE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2023 |
FOR |
AWEL AMAN TAWE |
AWEL AMAN TAWE |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 6 |
Report of the Independent Auditors | 7 | to | 9 |
Statement of Financial Activities | 10 |
Balance Sheet | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 | to | 28 |
AWEL AMAN TAWE (REGISTERED NUMBER: 03958840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
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 December 2023. 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charitable company is a non-profit making organisation whose objectives are: |
- To advance the education of the public, in particular but not exclusively in energy efficiency and renewable resources for the public benefit; |
- The preservation and conservation of the environment through the promotion and use of renewable energy and energy saving measures; |
- The relief of poverty; |
- To conduct research and development relating to the utilisation of energy conservation practices and renewable energy technologies and to use the research for the public benefit; |
- To provide or assist in the provisions of recreational facilities in the interests of social welfare with a view to advancing education and improving the conditions of life for those for whom the facilities are primarily intended; |
- The relief of unemployment for the public benefit, in particular but not exclusively by the provision of advice, training and support for the unemployed; |
- The relief of sickness and the preservation and protection of good health among people residing permanently or temporarily in South Wales and further afield; |
- The promotion of the arts, culture and heritage; and |
- Such other charitable purposes as may from time to time be determined. |
The charitable company's income derives from contracts and grants from local and central government, charitable trusts, donations and trading activities. |
AWEL AMAN TAWE (REGISTERED NUMBER: 03958840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Annual Report - 2023 |
The overall aims of the charity are to tackle climate change in Wales and enable local regeneration in the Upper Swansea and Amman Valley. To help achieve this, we: |
- Engage people in climate change action |
- Tackle fuel poverty |
- Low carbon, education and arts projects |
- Educational and arts programme |
- Create jobs |
These aims are delivered by Awel Aman Tawe (AAT), in part, through the two co-ops it set up, These are Awel Co-op (community wind farm) and Egni Co-op (installs rooftop solar on schools, community buildings and businesses in Wales). AAT employs staff to manage these co-ops and develop further projects. We've included information about both co-ops here as we want readers to gain an understanding of the full scope of our work. |
Engage people in climate change action |
Combined, our two co-ops, Awel and Egni, reduced carbon dioxide emissions by more than 3,000 tonnes and supplied the equivalent of more than 4,000 homes in 2023. Total installed capacity was 9,310 kWp and we generated 15,676,049 kWh of clean electricity in 2023. Egni remains the largest rooftop solar co-op in the UK. |
We have nearly 1500 members in our co-ops. We have also over 50 schools and community groups who are members and they own over £100k of the shares, giving them a sustainable income stream. We estimate that there are over 50,000 people in these groups which now co-own the Awel and Egni Co-ops. Members include the local rugby and football clubs, over 40 schools, Merched y Wawr, the Food Bank and the Friends of Pontardawe Centre. |
Education: our Education Officer, Jen James, continues to deliver a successful programme of work 'We are Energy Warriors'. This engages 40 schools with Egni solar panels and those close to Awel Co-op's wind farm in a range of sustainability and carbon reduction activities. It builds on our partnership with another charity, Energy Sparks and the STEM Ambassadors programme. Energy Sparks www.energysparks.uk has an educational portal for schools which displays electricity, gas and solar generation data in an accessible way, with a range of educational materials. Jen's work with pupils this year also included developing low-carbon model houses, arts workshops from foraged nature-based materials, and a multi-school conference on reducing energy. |
We were honoured that our co-founders, Emily Hinshelwood and Dan McCallum, were chosen by the outgoing Commissioner, Sophie Howe, as members of 100 Changemakers who exemplify the Future Generations Act. The new Commissioner, Derek Walker, visited Hwb y Gors and our wind farm in 2023 |
Tackle fuel poverty |
Egni Co-op: we now have 93 sites across Wales with 4.64 MWp of capacity. These sites saved £310k in 2023 in electricity costs (compared to £119k/year in 2022) - this increased saving is due to the higher onsite electricity costs that our sites have been paying, and Egni's solar electricity is now far cheaper by comparison. Many of our community buildings are playing a key role during the cost of living crisis, providing foodbanks and other vital services. |
We won a tender with Pembrokeshire County Council to install solar on 16 schools and 4 leisure centres. Our Education programme was key to this due to additional carbon savings and pupil engagement it delivers. We continue our work with Newport Council. Overall, we are working on a pipeline of over 2MW of solar on community, business and school rooftop sites. |
We have secured Redress funds to employ two fuel poverty/energy efficiency advisors for domestic households. They will be starting employment in 2024. |
Hwb y Gors |
AWEL AMAN TAWE (REGISTERED NUMBER: 03958840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Hwb y Gors: we started refurbishment of the former Cwmgors Primary School in January 2021 and have been continuing its development it as zero carbon education, arts and enterprise centre. We've secured £2.1m of capital and loan funding towards the refurbishment and retrofitting costs. Progress can be seen on https://www.facebook.com/hwbygors. We have installed 90kW of solar and a 50kW ground source heat pump. We are engaging the community in some of the redevelopment through a range of community arts projects using textiles, stained glass and tilemaking. These draw on local heritage and nature. The opening has been delayed as we were required to secure an additional full planning permission for our Sustainable Drainage Scheme (SUDs) in the rear playground - the SUDs design incorporates the footpath around the building and hence fire exits etc, so it has not be possible to open the building prior to the SUDs work being completed. We aim to open towards the end of 2024. |
Community Projects |
Over 800 people have been involved in a range of engagement projects. This includes the arts projects mentioned above, and also a range of other circular economy and biodiversity events and activities. We have a core group of volunteers involved and the group won the Environmental Volunteers of the Year in the NPTCVS Voluntary Sector Awards. We work with the Local Area Coordinators and Social Prescribers to involve vulnerable people and those suffering from isolation, low-level mental health issues and bereavements. |
- Repair Café: monthly repair café since February 2023, including an additional school repair café with the eco committee to repair uniforms and toys. In 2023, a total of 183 repairs were completed by our volunteers for 147 people. |
- Gardening Club. The group built a food garden with equipment from Keep Wales Tidy and continues to meet weekly growing food and planting wild habitat areas. |
- Weekly Stitch Club which evolved out of the heritage textile project. |
- Trac Cymru: we have been selected to take part in a Welsh folk music project. This will be starting in 2024. |
Taith Co-op |
We have two electric vehicles and work with vulnerable groups in SW Wales to enable them to access services and support. In particular, we work with people with learning difficulties, disabilities, carers and the elderly. One of the vehicles has a wheelchair ramp. Our Taith Manager, Sachá Petrie, was shortlisted as Transport Champion of the Year at the national Community Transport Association awards. Between January 2023 and December 2023 we have supported 1965 passengers who have made 2938 journeys travelling a total of 34,497 miles. This has saved over 9.09 tonnes of carbon emissions. |
Other projects |
- We have secured planning permission for a ground mounted solar farm next to our turbines on the Gwrhyd. The solar would share the grid connection with our existing wind farm and we have secured agreement that we can install up to 2.23 MW of solar under our grid connection agreement. We are now securing additional agreements, developing the financial model and aim to build in 2025. |
- We are also assessing the feasibility of developing 3 additional wind turbines on the Gwrhyd with a capacity of 9MW. |
- We have signed MoUs with a commercial developer ESB/Coriolis for a 20% shared ownership community stake in Y Bryn windfarm near Port Talbot. We are working with Neath Port Talbot CVS (NPTCVS) and Bridgend Association for Voluntary Organisations (BAVO) on the shared ownership element https://www.ybryn-windfarm.cymru/ |
- We have also signed MoUs with Renantis Ltd for a stake in the Mynydd Fforch Dwm project https://mfdwindfarm.co.uk/. This is a 20MW wind farm and 6MW of solar near the village of Tonmawr, Neath Port Talbot. We are working in partnership with NPTCVS. We signed MOUs in July 2023 and the project was submitted for planning in Q3 2023. |
- We have supported a number of energy efficiency surveys of community groups, rugby and football clubs in Wales. This has led to a number being successful in securing funding for solar panels, more efficient boilers and other measures. |
Create Jobs |
We increased our staffing numbers from 9 in 2022 to 14 people in 2023. This equates to an increase in Full Time Equivalent jobs from 7 to 11. |
We were awarded 2-year funding from the Welsh Government Energy Service to employ two Development Managers. Jenny Carlisle was recruited to manage Egni and she will be supported by Anne Sawhney who will also work on other energy projects. Both will start in 2024. Jenny will manage Mike Switzer and Ellie Critchley who work on the operational and development side of Egni. We are very sad that Rosie Gillam will be leaving us in 2024 - Rosie has been a force of nature for Egni and is leaving to focus on her community resilience project, Fynnon, close to home in Pembrokeshire. Rosie will be doing a handover for Jenny and Anne, and will continue in her role as an Egni Director so we are lucky to retain her skills and knowledge. We have also appointed Stacey Mangan full time to increase our administration capacity for Egni and Awel Co-op. Stacey replaces Ilona Shadrach who was part time and has now left us to focus on her Masters and other projects. We wish to thank Ilona for all her work over the years she was with us. |
AWEL AMAN TAWE (REGISTERED NUMBER: 03958840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
ACHIEVEMENT AND PERFORMANCE |
Donors |
We would like to thank all our donors and the public for their support in 2023. |
FINANCIAL REVIEW |
Reserves policy |
Unrestricted General Charity Reserves as of 31st December 2023 are shown as £168,173 (note 19 of the accounts). |
Trustees agree to hold 6 months running costs for the charity - this is based on the unrestricted Annual Expenditure of £725,549 as shown in the accounts less Solar Panel revenue of £251,904. |
'-+ 10% contingency. |
The reserves target equates to £260,505 |
Free reserves relate to general reserves over and above the reserves target. As reserves target exceeds general reserves there are no free reserves as at 31st December 2023. |
Awel Aman Tawe aims to build up reserves in future years to |
1) meet the reserves target; and |
2) to generate free reserves enable it to continue and to expand the services it currently provides and develop new projects in the future. |
This policy will be reviewed annually or when significant changes occur within the organisation. |
In 2022 the Trustees agreed to designate funds towards Hwb y Gors which aligns with the charity's objectives. |
Investments and other powers |
The trustees have the power to expend the funds of the charitable company in such manner as they consider being beneficial for the achievement of the charitable company's objects. They are also empowered to invest such part of the funds as they see fit in the furtherance of the objects of the charitable company. |
Financial Statements |
The trustees consider that in view of the non-profit making status of the charitable company's activities, the terms "profit and loss" are not appropriate to giving a true and fair view. Accordingly, under the provisions of the Companies Act 2006, the term "profit and loss account" has been replaced by "income and expenditure account", and the words "profit" and "loss" by "surplus" and "deficit". |
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 organisation was incorporated on 9th March 2000 and registered as a charity on the 1st June 2006. |
Recruitment and appointment of new trustees |
The directors of the charitable company are also charity trustees for the purpose of charity law. The rules regarding the number of directors and their appointment, reappointment and removal are contained in the Articles of Association to which reference should be made. |
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 trustees actively review the major risks which the charitable company faces on a regular basis and we believe that maintaining our free reserves at sufficient levels to enable the charity to continue and expand the services they provide. The trustees have also examined other operational and business risks which we face and confirm that we have established systems to mitigate the significant risks. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
AWEL AMAN TAWE (REGISTERED NUMBER: 03958840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Auditors |
Chartered Accountants |
And Statutory Auditors |
Ground Floor Cardigan House |
Castle Court |
Swansea Enterprise Park |
Swansea |
SA7 9LA |
Bankers |
Delf House |
Southway |
Skelmersdale |
WN8 6WT |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Awel Aman Tawe for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
AWEL AMAN TAWE (REGISTERED NUMBER: 03958840) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
AUDITORS |
The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Approved by order of the board of trustees on |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
AWEL AMAN TAWE |
Opinion |
We have audited the financial statements of Awel Aman Tawe (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. |
Other information |
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
AWEL AMAN TAWE |
Responsibilities of trustees |
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. |
Our responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Extent to which the audit was considered capable of detecting irregularities, including fraud |
We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. |
We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process. |
Identifying and assessing potential risks related to irregularities. |
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: |
- | identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; |
- | detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud; |
- | the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; |
- | discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud. |
- | obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Charity, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation. |
Audit response to risks identified |
In addition to the above, our procedures to respond to risks identified included the following: |
- | reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations; |
- | enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
- | reading minutes of meetings of those charged with governance; |
- | in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; |
- | assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and |
- | evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations. |
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
AWEL AMAN TAWE |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
And Statutory Auditors |
Castle Court |
Swansea Enterprise Park |
Swansea |
SA7 9LA |
AWEL AMAN TAWE |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Charitable activities | 6 |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 2,194,386 |
AWEL AMAN TAWE (REGISTERED NUMBER: 03958840) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 12 |
Investments | 13 |
CURRENT ASSETS |
Debtors | 14 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 15 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 16 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 19 |
Unrestricted funds | 1,090,509 |
Restricted funds | 1,103,877 |
TOTAL FUNDS | 2,194,386 |
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 |
AWEL AMAN TAWE |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 433,951 | 688,032 |
Interest paid | (218,485 | ) | (147,050 | ) |
Net cash provided by operating activities | 215,466 | 540,982 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (607,263 | ) | (1,021,614 | ) |
Sale of fixed asset investments | 10,081 | 89,919 |
Net cash used in investing activities | (597,182 | ) | (931,695 | ) |
Cash flows from financing activities |
New loans in year | (200,000 | ) | (100,000 | ) |
Loan repayments in year | 328,395 | - |
Related party loan movement | 351,460 | 339,896 |
Net cash provided by financing activities | 479,855 | 239,896 |
Change in cash and cash equivalents in the reporting period |
98,139 |
(150,817 |
) |
Cash and cash equivalents at the beginning of the reporting period |
178,510 |
329,327 |
Cash and cash equivalents at the end of the reporting period |
276,649 |
178,510 |
AWEL AMAN TAWE |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2023 | 2022 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) |
213,925 |
460,196 |
Adjustments for: |
Depreciation charges | 85,605 | 68,025 |
Interest paid | 218,485 | 147,050 |
Increase in debtors | (128,226 | ) | (42,967 | ) |
Increase in creditors | 44,162 | 55,728 |
Net cash provided by operations | 433,951 | 688,032 |
2. | ANALYSIS OF CHANGES IN NET DEBT |
At 1.1.23 | Cash flow | At 31.12.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 178,510 | 98,139 | 276,649 |
178,510 | 98,139 | 276,649 |
Debt |
Debts falling due within 1 year | (78,051 | ) | (6,934 | ) | (84,985 | ) |
Debts falling due after 1 year | (1,227,949 | ) | (121,463 | ) | (1,349,412 | ) |
(1,306,000 | ) | (128,397 | ) | (1,434,397 | ) |
Total | (1,127,490 | ) | (30,258 | ) | (1,157,748 | ) |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. |
The accounts are prepared in sterling |
The charity constitutes a public benefit entity as defined by FRS 102. |
Legal status of the charity |
The charity is private limited company by guarantee incorporated in England and Wales and has no share capital. |
Going concern |
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. |
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. |
Donations, are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. |
Income on consultancy and contracts is recognised on an accruals basis and recognised in the period in which it relates to. |
Income from Solar Panels is recognised over the period of electricity generation on an accruals basis. |
Management charge income is recognised in relation to the period which the management services apply to, on an accruals basis. |
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. |
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 costs related to that 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. |
Allocation of support costs |
Support costs are those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include back office costs, insurance and governance costs which support the charity's activities. These costs have been allocated to expenditure on charitable activities |
Depreciation |
Depreciation of fixed assets is calculated to write off their cost less any residual value over their estimated useful lives as follows: |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | ACCOUNTING POLICIES - continued |
Depreciation |
Freehold land | No depreciation |
Freehold buildings | 2% straight line |
Solar panels | 5% straight line |
Plant & machinery: | Additions pre 2008 | 15% reducing balance |
Additions 2008 onwards | 25% straight line |
Office equipment: | Additions pre 2008 | 15% reducing balance |
Additions 2008 onwards | 25% straight line |
Assets purchased which have a value of less than £1,000 are expensed to the profit and loss account in the year of purchase. |
Taxation |
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
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. |
Pensions |
Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme. |
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 are subsequently measured at amortised cost using the effective interest method. |
Cash at bank and in hand |
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts arc shown within borrowings in current liabilities. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Fixed asset Investments |
Shares held in fixed asset investments are held at cost. |
Significant management judgements and key sources of estimation uncertainty |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | ACCOUNTING POLICIES - continued |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. |
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected. |
Significant management judgements |
The following are management judgements in applying the accounting policies of the charity that have the most significant effect on the amounts recognised in the financial statements. |
Estimation of the useful economic life of buildings,solar panels, plant and machinery and office equipment. |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
3. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Contracts and consultancy | 16,764 | 117,653 |
Co-op Management | 107,874 | 100,817 |
Solar panel revenue | 251,904 | 131,872 |
Transport trading income | 9,845 | - |
Energy surveys | 13,258 | - |
4. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Investment income | 6,244 | 10,620 |
Investment income includes interest earned on share capital invested in Awel Ltd and Egni. |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | INCOME FROM CHARITABLE ACTIVITIES |
2023 | 2022 |
Activity | £ | £ |
Grants | Grant Income | 445,254 | 701,355 |
Grants received, included in the above, are as follows: |
2023 | 2022 |
£ | £ |
YouCoop | - | 1,577 |
Awel y Gwrhyd CIC - S106 Community Benefit | 61,902 | 33,642 |
Awel y Gwrhyd CIC - Common Land | - | 22,428 |
Community Energy Fund Award (Younity) | 3,750 | - |
WCVA - Kickstart | - | 9,834 |
Community Facilities Programme – Welsh Government | - | 50,000 |
Western Valleys Community Transport Scheme, Community Transport Association - Welsh Government |
- |
115,575 |
Third Sector Resilience Fund – Wales Council for Voluntary Action (WCVA) | - | 50,000 |
People and Places - The National Lottery Community Fund | - | 100,000 |
Welsh Government’s Landfill Disposal Tax Communities Scheme – Wales Council for Voluntary Action (WCVA) |
- |
49,600 |
Garfield Weston Foundation | - | 15,000 |
Ein MIlltir Sqwar Defibrillator | - | 1,679 |
Morel Trust - Hwb y Gors | - | 3,000 |
Clothworkers Foundation - Hwb y Gors | - | 100,000 |
West Glamorgan Regional Partnership-Learning Disabilities Fund | - | 11,537 |
Heritage Lottery - Ein Milltir Sqwar | - | 39,400 |
Heritage Lottery - Hwb y Gors | - | 20,000 |
Ashley Family Foundation - Hwb y Gors | - | 25,000 |
Welsh Government Energy Service- Gwrhyd Solar/Wind | - | 25,000 |
Bus Services Support Grant- Community Transport- NPTCBC | 7,652 | 6,297 |
NPTCVS UK Community Renewal Fund – Third Sector Grants Scheme | - | 24,616 |
Other grant income | - | (2,830 | ) |
National Lottery - Hwb y Gors | 60,000 | - |
Coalfields Regeneration | 7,000 | - |
Baily Thomas | 3,000 | - |
National Grid - Community Matters | 4,150 | - |
National Lottery - Sensory Story of Energy | 10,000 | - |
SBUHB RIF Third Sector | 19,851 | - |
NPTCBC Valleys & Villages - Hwb y Gors | 185,000 | - |
Tai Tarian Garden Project | 500 | - |
Pembrokeshire Coast National Park Authority - We Are Energy Warriors | 16,449 | - |
Pobl - Repair Cafe | 1,000 | - |
NPTCVS - UK Shared Prosperity | 65,000 | - |
445,254 | 701,355 |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 7) | Totals |
£ | £ | £ |
Energy and environmental projects | 818,660 | 46,871 | 865,531 |
7. | SUPPORT COSTS |
Support |
costs |
£ |
Energy and environmental projects | 46,871 |
8. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
Auditors remuneration - audit services | 9,000 | 9,000 |
Auditors remuneration - accountancy and other services | 4,500 | 4,500 |
9. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
10. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and Salaries | 324,091 | 247,070 |
Social Security Costs | 28,448 | 18,204 |
Pension Costs | 17,206 | 12,577 |
369,747 | 277,850 |
The staff costs are included in a number of the expense headings within the detailed income and expenditure account. |
The average number of employees during the year was as follows: |
2023 | 2022 |
Management/ Finance | 5 | 5 |
Projects | 8 | 7 |
13 | 12 |
No employee was paid more than £60,000. |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | STAFF COSTS - continued |
The Key Management Personnel of the Charity received remuneration of £120,467 (2022: £87,476) , this includes gross salary paid, employers national insurance contributions and employers pension contributions. The number of staff classed as key management was 3 for 2023 and 2 for 2022. |
Defined Contribution Pension Scheme |
The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. |
The pension cost charge represents contributions payable by the charitable company to the fund and amounted to £17,206 (2022: £12,577) |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
Transfers between funds | 99,413 | (99,413 | ) | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 937,441 | 796,749 |
TOTAL FUNDS CARRIED FORWARD | 1,090,509 | 1,103,877 | 2,194,386 |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | TANGIBLE FIXED ASSETS |
Freehold | Solar | Plant and |
property | panels | machinery |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Office | Motor |
Equipment | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
13. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
MARKET VALUE |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 | 2,001 |
At 31 December 2022 | 12,082 |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
13. | FIXED ASSET INVESTMENTS - continued |
There were no investment assets outside the UK. |
Fixed Asset investments include £1 of share capital in Awel Limited (a Co-operative and Community Benefit Society) and £2,000 of share capital in Trydani (a Co-operative and Community Benefit Society). |
£10.1k of shares were repaid to Awel Aman Tawe in the year at nominal value from Egni (a Co-operative and Community Benefit Society). |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by related parties |
Other debtors |
VAT |
Prepayments and accrued income |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 17) |
Trade creditors |
Amounts owed to related parties |
Social security and other taxes |
VAT | 5,861 | - |
Other creditors |
Accruals and deferred income |
16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 17) | 1,227,949 |
17. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 84,985 | 78,051 |
Amounts falling between one and two years: |
Other loans - 1-2 years |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Other loans more than 5yrs | 1,018,673 | 913,219 |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
17. | LOANS - continued |
Egni had previously provided loans to pay for the purchase and installation costs of solar panels (PV) and the purchase and installation of a Ground Source Heat Pump (GSHP) on behalf of AAT. |
Amounts owed to Egni included within loans is as follows: |
2023 | 2022 |
Solar Panel (PV) loan | 948,236 | 1,005,824 |
Ground Source Heat pump (GSHP) loan | 84,067 | 83,843 |
18. | SECURED DEBTS |
The following hold a charge against the freehold land and property of the charity |
NPTCBC - dated Dec 2022 |
WCVA - dated Dec 2022 and Dec 2006 |
Big Lottery Fund - dated April 2022 |
19. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.1.23 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General charity reserves | 254,909 | (29,445 | ) | (57,291 | ) | 168,173 |
Designated Asset Fund - Capital | 533,518 | - | 225,976 | 759,494 |
Designated Long Term Investments | 12,082 | - | (10,081 | ) | 2,001 |
Hwb y Gors | 290,000 | - | (158,604 | ) | 131,396 |
(29,445 | ) |
Restricted funds |
Third Sector Resilience Fund – Wales Council for Voluntary Action (WCVA) |
12,500 |
(12,500 |
) |
- |
- |
We are Energy Warriors | - | 1,645 | - | 1,645 |
Garfield Weston Foundation | 30,000 | - | (30,000 | ) | - |
Restricted Hwb y Gors capital fund | 1,051,491 | (67,372 | ) | 234,658 | 1,218,777 |
Ein Milltir Sgwar - Defibrillator | 1,679 | (1,679 | ) | - | - |
Welsh Government Energy Service - Gwrhyd Solar & Wind Project |
8,207 |
(8,207 |
) |
- |
- |
Younity - Powering Communities | - | 2,750 | - | 2,750 |
NPTCVS UK Shared Prosperity | - | 65,000 | (65,000 | ) | - |
Repair Cafe | - | 1,000 | - | 1,000 |
Tai Tarian - Garden Project | - | 500 | - | 500 |
NPTCBC Valleys & Villages | - | 185,000 | (69,658 | ) | 115,342 |
National Lottery - Sensory Story of Energy | - | 7,233 | - | 7,233 |
National Lottery - Hwb y Gors | - | 60,000 | (60,000 | ) | - |
Coalfields Regeneration | - | 7,000 | (7,000 | ) | - |
Baily Thomas | - | 3,000 | (3,000 | ) | - |
243,370 |
TOTAL FUNDS | 213,925 | 2,408,311 |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
19. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General charity reserves | 696,104 | (725,549 | ) | (29,445 | ) |
Restricted funds |
Third Sector Resilience Fund – Wales Council for Voluntary Action (WCVA) |
- |
(12,500 |
) |
(12,500 |
) |
We are Energy Warriors | 16,449 | (14,804 | ) | 1,645 |
Restricted Hwb y Gors capital fund | - | (67,372 | ) | (67,372 | ) |
Ein Milltir Sgwar - Defibrillator | - | (1,679 | ) | (1,679 | ) |
Bus Services Support Grant - Community Transport (BSSG) NPT |
7,652 |
(7,652 |
) |
- |
Welsh Government Energy Service - Gwrhyd Solar & Wind Project |
- |
(8,207 |
) |
(8,207 |
) |
Younity - Powering Communities | 3,750 | (1,000 | ) | 2,750 |
NPTCVS UK Shared Prosperity | 65,000 | - | 65,000 |
Repair Cafe | 1,000 | - | 1,000 |
Tai Tarian - Garden Project | 500 | - | 500 |
NPTCBC Valleys & Villages | 185,000 | - | 185,000 |
SBUHB - RIF 3rd Sector | 19,851 | (19,851 | ) | - |
National Lottery - Sensory Story of Energy | 10,000 | (2,767 | ) | 7,233 |
National Grid - Community Matters | 4,150 | (4,150 | ) | - |
National Lottery - Hwb y Gors | 60,000 | - | 60,000 |
Coalfields Regeneration | 7,000 | - | 7,000 |
Baily Thomas | 3,000 | - | 3,000 |
( |
) | 243,370 |
TOTAL FUNDS | ( |
) | 213,925 |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
19. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.22 |
£ | £ | £ | £ |
Unrestricted funds |
General charity reserves | 200,416 | 153,068 | (98,575 | ) | 254,909 |
Designated Asset Fund - Capital | 635,024 | - | (101,506 | ) | 533,518 |
Designated Long Term Investments | 102,001 | - | (89,919 | ) | 12,082 |
Hwb y Gors | - | (99,413 | ) | 389,413 | 290,000 |
937,441 | 53,655 | 99,413 | 1,090,509 |
Restricted funds |
People and Places - The National Lottery Community Fund |
88,757 |
100,000 |
(188,757 |
) |
- |
Transforming Towns, Neath Port Talbot County Borough Council (NPTCBC) |
98,891 |
- |
(98,891 |
) |
- |
Arts Council of Wales | 37,242 | (37,242 | ) | - | - |
Margaret Davies Charity | 5,000 | - | (5,000 | ) | - |
Moondance Foundation | 100,000 | - | (100,000 | ) | - |
Welsh Government’s Landfill Disposal Tax Communities Scheme – Wales Council for Voluntary Action (WCVA) |
- |
49,600 |
(49,600 |
) |
- |
Western Valleys Community Transport Scheme, Community Transport Association - Welsh Government |
93,116 |
80,000 |
(173,116 |
) |
- |
Third Sector Resilience Fund – Wales Council for Voluntary Action (WCVA) |
37,500 |
(25,000 |
) |
- |
12,500 |
Community Facilities Programme – Welsh Government |
- |
50,000 |
(50,000 |
) |
- |
Garfield Weston Foundation | 15,000 | 15,000 | - | 30,000 |
Awards for All - The National Lottery Community Fund |
10,000 |
(10,000 |
) |
- |
- |
Restricted Hwb y Gors capital fund | 311,243 | 20,000 | 720,248 | 1,051,491 |
Ein Milltir Sgwar - Defibrillator | - | 1,679 | - | 1,679 |
Bus Services Support Grant - Community Transport (BSSG) NPT |
- |
6,297 |
(6,297 |
) |
- |
Heritage Lottery fund - Ein Militir Sgwar | - | 20,000 | (20,000 | ) | - |
Morel Trust fund | - | 3,000 | (3,000 | ) | - |
Clothworkers Foundation - Hwb y Gors | - | 100,000 | (100,000 | ) | - |
Ashley Family Foundation Fund - Hwb y Gors |
- |
25,000 |
(25,000 |
) |
- |
Welsh Government Energy Service - Gwrhyd Solar & Wind Project |
- |
8,207 |
- |
8,207 |
796,749 | 406,541 | (99,413 | ) | 1,103,877 |
TOTAL FUNDS | 1,734,190 | 460,196 | - | 2,194,386 |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
19. | 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 charity reserves | 515,779 | (362,711 | ) | 153,068 |
Hwb y Gors | - | (99,413 | ) | (99,413 | ) |
515,779 | (462,124 | ) | 53,655 |
Restricted funds |
People and Places - The National Lottery Community Fund |
100,000 |
- |
100,000 |
Arts Council of Wales | - | (37,242 | ) | (37,242 | ) |
Welsh Government’s Landfill Disposal Tax Communities Scheme – Wales Council for Voluntary Action (WCVA) |
49,600 |
- |
49,600 |
Western Valleys Community Transport Scheme, Community Transport Association - Welsh Government |
115,575 |
(35,575 |
) |
80,000 |
Third Sector Resilience Fund – Wales Council for Voluntary Action (WCVA) |
50,000 |
(75,000 |
) |
(25,000 |
) |
WCVA- Kick start | 9,834 | (9,834 | ) | - |
Community Facilities Programme – Welsh Government |
50,000 |
- |
50,000 |
Garfield Weston Foundation | 15,000 | - | 15,000 |
Awards for All - The National Lottery Community Fund |
- |
(10,000 |
) |
(10,000 |
) |
Restricted Hwb y Gors capital fund | 20,000 | - | 20,000 |
Transport - Learning Disabilites Fund | 11,537 | (11,537 | ) | - |
Ein Milltir Sgwar - Defibrillator | 1,679 | - | 1,679 |
Bus Services Support Grant - Community Transport (BSSG) NPT |
6,297 |
- |
6,297 |
Heritage Lottery fund - Ein Militir Sgwar | 59,400 | (39,400 | ) | 20,000 |
NPTCVS UK Community Renewal Fund – Third Sector Grants Scheme |
4,616 |
(4,616 |
) |
- |
Morel Trust fund | 3,000 | - | 3,000 |
Clothworkers Foundation - Hwb y Gors | 100,000 | - | 100,000 |
Ashley Family Foundation Fund - Hwb y Gors |
25,000 |
- |
25,000 |
Welsh Government Energy Service - Gwrhyd Solar & Wind Project |
25,000 |
(16,793 |
) |
8,207 |
646,538 | (239,997 | ) | 406,541 |
TOTAL FUNDS | 1,162,317 | (702,121 | ) | 460,196 |
Unrestricted & Designated Funds |
Unrestricted General Charity Reserves as of 31st December 2023 are shown as £168,173. |
Trustees agree to hold 6 months running costs for the charity - this is based on the unrestricted Annual Expenditure of £725,549 as shown in the accounts less Solar Panel revenue of £251,904. |
'-+ 10% contingency. |
The reserves target equates to £260,505 |
Free reserves relate to general reserves over and above the reserves target. As reserves target exceeds general reserves there are no free reserves as at 31st December 2023. |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
19. | MOVEMENT IN FUNDS - continued |
In 2022 the Trustees agreed to designate funds towards Hwb y Gors which aligns with the charity's objectives. |
Designated capital funds carried forward represent monies received towards capital expenditure, |
Designated investment funds represent amounts held by the Charity in investments at the year end. |
Restricted Funds |
Details of specific Restricted funds are noted below: |
- Rural Development Programme (RDP) - Gwrhyd Solar - this is funding towards a Feasibility Study for a ground mounted solar scheme |
- People and Places - The National Lottery Community Fund - this is funding towards the Hwb y Gors refurbishment project |
- Transforming Towns, Neath Port Talbot County Borough Council (NPTCBC) - this is funding towards the Hwb y Gors refurbishment project |
- Arts Council of Wales - this is funding towards various community arts projects, as well as towards the Hwb y Gors refurbishment project |
- Margaret Davies Charity - this is funding towards the Hwb y Gors refurbishment project |
- Moondance Foundation - this is funding towards the Hwb y Gors refurbishment project |
- Welsh Government's Landfill Disposal Tax Communities Scheme - Wales Council for Voluntary Action (WCVA) - this is funding towards the Hwb y Gors refurbishment project |
- Western Valleys Community Transport Scheme, Community Transport Association - Welsh Government - this is funding towards the Community transport scheme |
- Third Sector Resilience Fund - Wales Council for Voluntary Action (WCVA) - this is funding towards additional staffing and capacity development |
- Community Facilities Programme - Welsh Government - this is funding towards the Hwb y Gors refurbishment project |
- Garfield Weston Foundation - this is funding towards the Hwb y Gors refurbishment project |
- Awards for All - The National Lottery Community Fund - this is funding towards community arts projects, as well as towards the Hwb y Gors refurbishment project |
- Welsh Government Energy Service - Gwrhyd Solar & Wind Project - this is funding towards a feasibility study for a ground mounted solar and wind scheme |
-Transport, Learning Disabilities Fund: this is towards staff salaries and running costs for providing this community transport service |
Ein Milltir Sqwar - Debrillitor: this will be located at Hwb y Gors for public use |
Bus Services Support Grant (BSSG) NPT: to support community transport in NPT |
Heritage Lottery Fund: funding towards heritage craft projects and lime render work at Hwb y Gors |
NPTCVS Community Renewal Fund: funding towards craft projects at Hwb y Gors |
Morel Trust: funding forward Hwb y Gors refurbishment |
Clothworkers Foundation: funding forward Hwb y Gors refurbishment |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
19. | MOVEMENT IN FUNDS - continued |
Ashley Family Foundation: towards ceramics project and kitting out pottery studio at Hwb y Gors |
Transfers between funds |
Transfers between restricted funds |
These transfers represent restricted funds that have been received and spent on the Hwb y Gors development. |
The closing balance on the restricted fund of £1,218,777 represents all sources of capital funding the charity has received in respect of this development. |
Transfers between restricted and unrestricted funds |
These transfers represents the direct revenue spend on the Hwb y Gors development , together with management time in respect of this development, where the costs were reflected in general unrestricted funds. |
20. | RELATED PARTY DISCLOSURES |
Awel y Gwrhyd (community wind farm) |
Awel y Gwrhyd CIC is a 100% subsidiary of Awel Limited and both Awel Limited and Awel y Gwrhyd CIC are managed and administrated by Awel Aman Tawe. |
Included within debtors is a balance of £11,431 (2022 £41,198) due from Awel y Gwrhyd CIC, this balance is made up of costs incurred by Awel Aman Tawe on behalf of Awel y Gwrhyd CIC due for recharge. |
During the year Awel Aman Tawe received S106 Community Benefit and Common Land income from Awel y Gwrhyd CIC of £61,902 (2022 £56,071) and charged management and admin fees of £25,680 (2022 £24,000). |
During the year, a donation of £150,000 was made to Awel Aman Tawe by Awel y Gwrhyd (2022 £100,000) |
Awel Limited |
Awel Aman Tawe holds share capital in Awel Limited (a cooperative and community benefit company) of £1 at the year end which represents <25% of the voting rights of Awel Limited. |
Included within other debtors is a balance of £55,663 (2022: £38,041) due from Awel Ltd, this balance is made up of various loans and recharges due from Awel Ltd at the year end. |
During the year Awel Aman Tawe provided management and administration services to Awel Limited totalling £25,680 (2022 £24,000). |
Other related parties |
As agreed by Trustees, during the year Emily Hinshelwood, co-founder of the Charity and partner of Dan McCallum (company secretary) provided consultancy services on a freelance basis totalling £9,337 (2022: £27,686) to manage the Hwb y Gors renovation and development project. |
Trustees in Awel Aman Tawe held shares in Awel Ltd totalling £4,805 and total interest receivable thereon for 2023 was £241. |
Trustees in Awel Aman Tawe held shares in Egni totalling £24,466 and total interest receivable thereon for 2023 was £328. |
Staff of Awel Aman Tawe held shares in Awel Ltd totalling £477 and received interest of £33. |
Staff in Awel Aman Tawe held shares in Egni totalling £15,270 and received interest of £492. |
AWEL AMAN TAWE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
21. | EGNI CYDWEITHREDOL |
Awel Aman Tawe (AAT) held no shares in Egni Co-op (a cooperative and community benefit company) at the year end. |
Egni Co-op (Egni) repaid shares totalling £10,081 to AAT during the year to 31 December 2023. |
There are no staff employed by Egni and all administration and management faculties are provided by Awel Aman Tawe (AAT). AAT and Egni are related parties based on similar directors/trusteeships. |
During the year AAT charged Egni a management & administration charge of £56,514 (2022: £52,817), plus project/ consultancy charges of £nil (2022: £108,464). |
These charges are a contribution towards AAT's costs of employing three solar development staff, the finance and administration team, and the Education Officer who works with schools that have Egni solar panels, and other schools as required. |
Egni previously provided loans to pay for the purchase and installation costs of solar panels (PV) and the purchase and installation of a Ground Source Heat Pump (GSHP) on behalf of AAT. |
Interest is charged on a variable rate on the PV loan and will mirror the amount of income less depreciation incurred by AAT in each period. The interest on the GSHP loan is charged at 6%. |
The balance owed by AAT to Egni as at 31 December 2023 in relation to the PV loan was £948,236 (2022: £1,005,824). The balance owed by AAT to Egni as at 31 December 2023 in relation to the GSHP loan was £84,066 (2022: £83,843). |
The reason for using both Egni and AAT for FiT preregistrations and for each organisation to then own panels was to maximise FiT income to the project and make the overall scheme more financially viable. In effect, our larger installs are more viable and enabled us to do smaller installs on primary schools and community buildings. This was permitted under Ofgem rules to support community energy - not for profit legal entities were allowed to share a grid connection and both were eligible for FiT. Since March 2021, when the FiT income ended, all installs have been funded and installed by Egni Co-op alone. |
During the year, £251,904 was generated from Awel Aman Tawe's solar panels. |
From time to time Egni and AAT will also pay bills on behalf of the other organisation. These amounts are typically balanced at year end and repaid in the following period. The balance of these items at year end was £1,014 owed by Egni to AAT. |
There was a further balance owed by Egni to AAT at year end of £33,908, in relation to recharges (including VAT) issued in FY23 but not paid until FY24. |
The total net amounts owed by AAT to Egni as at 31 December 2023 was £1,067,174 (2022: £786,197). |