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COMPANY REGISTRATION NUMBER: 03219857
CHARITY REGISTRATION NUMBER: 1059508
Ty Croeso (Ystradgynlais & District) Ltd
Company Limited by Guarantee
Unaudited Financial Statements
31 July 2024
Ty Croeso (Ystradgynlais & District) Ltd
Company Limited by Guarantee
Financial Statements
Year ended 31 July 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
6
Statement of financial activities (including income and expenditure account)
7
Statement of financial position
8
Notes to the financial statements
9
Ty Croeso (Ystradgynlais & District) Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 July 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2024 .
Reference and administrative details
Registered charity name
Ty Croeso (Ystradgynlais & District) Ltd
Charity registration number
1059508
Company registration number
03219857
Principal office and registered
25 Heol Eglwys
office
Ystradgynlais
Swansea
Powys
SA9 1EY
The trustees
Mr P Morgan
Mrs M Bamber
Mrs S McNicholas
Mrs S Price (Chair of trustees)
Mrs M E Parcell
Ms N Ridd-Davies
(Retired 23 February 2024)
Ms V Evans
(Retired 18 June 2024)
Mr R Bush
Company secretary
Mrs S McNicholas
Independent examiner
Alison Jayne Uzzell FCCA
Objectives and activities
Purposes and Aims
The company is a charity and exists to maintain a day centre and engage in charitable activities in order to promote the relief of persons suffering long term or terminal illness.
Ensuring our work delivers our aims
We review our activities each year and monitor the impact of our work to ensure that we continue to fulfil our purpose of helping people affected by a long term or terminal illness. We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and the Trustees consider how planned activities will contribute to the aims and objectives they have set.
The focus of our work
Our main objectives for the year continued to provide support to patients with long term illness in the local community for three days a week. The strategies we used to meet these objectives included providing a range of services.
In setting these objectives we the trustees have given careful consideration to the charity commission's general guidance on public benefit.
How our activities deliver public benefit
Our main activities and who we try to help are described below. All our charitable activities focus on supporting people affected by a long term illness and social isolation and are undertaken to further our charitable purposes for the public benefit.
Who used and benefited from our services?
Ty Croeso (Ystradgynlais & District) Ltd has benefited people in our local area suffering from long term illness and social isolation.
Volunteers
The charity has a proactive group of volunteers which are vital to keep the Ty Croeso Day Hospice Charity Shop running.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
Ty Croeso Day Centre continues to serve people in the community who are suffering with long term illness and social isolation. On a day to day basis we provide a place for people in similar situations to come and talk to each other. Clients are brought in by the Ystradgynlais Community Car Scheme. We offer teas and coffees, a two course lunch and complementary therapies, which include massage and reflexology. On alternate weeks a volunteer comes in and offer therapies including nail filing and light massage. Occasionally we have someone in to give a talk on a range of subjects.
Principal Risk and Uncertainties
The trustees actively review the major risks that the charity faces on a regular basis and are establishing systems to mitigate those risks. This process involves identifying the types of risks to which the Charity is exposed to, prioritising risks in terms of their potential impact on the Charity's activities and identifying ways in which the risks might be managed. The Trustees recognise that risk assessment is an ongoing process and the process will be reviewed and the quality of assessment enhanced on a regular basis.
Financial review
Reserves Policy
Ty Croeso (Ystradgynlais & District) Ltd aims to build up reserves in future years to enable it to continue and expand the services they currently provide and develop new projects in the future.
There was a £21,492 decrease in unrestricted funds during the year (2023: £15,982 decrease). At the year end the value of unrestricted funds amounted to £163,783 (2023: £185,275).
The Management Council has examined the charity's requirements for reserves in light of the main risks to the organisation, and considers that the unrestricted funds held by the charity are more than adequate to meet the working capital requirements of the charity if there were ever any significant drop in the level of future income.
Investment Policy
The charity has the power to make any investment that the trustees consider will most benefit the achievement of the objects of the charity.
Most of the charity's funds except for short-term working capital requirement are held in an interest earning building society account.
Plans for future periods
The charity shop takings continue to remain lower than was being achieved before Covid and the cost of living crisis.
The trustees are however optimistic that income levels will improve in the future and are doing their best to get customers into the shop and enhance takings.
The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.
Structure, governance and management
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 3rd July 1996 and registered as a charity on 29th July 1996. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up the members are required to contribute an amount not exceeding £1.
Recruitment and Appointment of Management Council
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Council. Under the requirements of the Memorandum and Articles of Association at each Annual General Meeting, one-third of the members or if their number is not three or a multiple of three, then the number nearest to one-third must retire from office.
The members to retire by rotation shall be those who have been longest in office since their last appointment. If any members became or were appointed members on the same day, those to retire shall (unless they otherwise agree among themselves) be determined by lot.
The members seek to ensure an appropriate combination of diverse skills and community representation within the Management Council and amongst the directors. In the event of the need for a particular skill or community representation resulting from retirements/resignations or changed circumstances, individuals are approached to offer themselves for trusteeship and/or directorship.
Trustee Induction and Training
Existing trustees are already familiar with the weight of their responsibilities as trustees, including the charity's Memorandum and Articles of Association, legal obligations, written policies, governance and management.
Newly appointed trustees are provided with a document containing comprehensive information about the charity and its aims and objectives and which also underlines their obligations and legal responsibilities as trustees and explains the charity's written policies and procedures covering good governance and management.
Organisation
The board of trustees administers the charity. The trustees meet at least six times a year to consider the activities of the charity and review its financial position.
Risk Management
The management council actively review the major risks which the charity faces on a regular basis and believe that maintaining the reserves at the level in the balance sheet, combined with the annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions.
The charity is governed by its Articles of Association and its constitution registered under the Charities Act.
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report and the strategic report were approved on 18 March 2025 and signed on behalf of the board of trustees by:
Mr P Morgan „„„„„„„„
Mr P Morgan
Trustee
Mr P Morgan „„„„„„„„
Mr P Morgan
Trustee
Ty Croeso (Ystradgynlais & District) Ltd
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Ty Croeso (Ystradgynlais & District) Ltd
Year ended 31 July 2024
I report to the trustees on my examination of the financial statements of Ty Croeso (Ystradgynlais & District) Ltd ('the charity') for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity 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 company'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 charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Alison Jayne Uzzell FCCA Independent Examiner
Chartered Certified Accountant
Axis 15, Axis Court
Mallard Way
Riverside Business Park
Swansea
SA7 0AJ
Date„„„„„„„
20 March 2025
Ty Croeso (Ystradgynlais & District) Ltd
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 July 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
15,034
15,034
12,648
Other trading activities
6
27,616
27,616
32,359
Investment income
7
2,627
2,627
990
--------
--------
--------
Total income
45,277
45,277
45,997
--------
--------
--------
Expenditure
Expenditure on charitable activities
8,9
66,769
66,769
61,979
--------
--------
--------
Total expenditure
66,769
66,769
61,979
--------
--------
--------
--------
--------
--------
Net expenditure and net movement in funds
( 21,492)
( 21,492)
( 15,982)
--------
--------
--------
Reconciliation of funds
Total funds brought forward
185,275
185,275
201,257
---------
---------
---------
Total funds carried forward
163,783
163,783
185,275
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Ty Croeso (Ystradgynlais & District) Ltd
Company Limited by Guarantee
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible fixed assets
14
73,894
75,776
Current assets
Cash at bank and in hand
91,141
110,689
Creditors: amounts falling due within one year
15
1,252
1,190
--------
---------
Net current assets
89,889
109,499
---------
---------
Total assets less current liabilities
163,783
185,275
---------
---------
Net assets
163,783
185,275
---------
---------
Funds of the charity
Unrestricted funds
163,783
185,275
---------
---------
Total charity funds
16
163,783
185,275
---------
---------
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP. For the year ending 31 July 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies . Trustees responsibilities: - The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of trustees and authorised for issue on 18 March 2025 , and are signed on behalf of the board by:
„„„„„„„„
Mrs S Price
Trustee
Company Number: 03219857
Ty Croeso (Ystradgynlais & District) Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 25 Heol Eglwys, Ystradgynlais, Swansea, Powys, SA9 1EY. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The nature of the charity's operations and principal activities those of a hospice and charity shop. The charity constitutes a public benefit entity as defined by FRS102.
2. Statement of compliance
The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. These financial statements only include the results of the individual entity made up to 31 July 2024. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS102 Section 1A.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe there are no material uncertainties about the charity's ability to continue.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Stock
Stock consists of items donated for resale or distribution which are not included in the financial statements until they are sold.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Employee benefits
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Judgements and key sources of estimation uncertainty
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are addressed below. Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
Taxation
As a charity, Ty Croeso (Ystradgynlais & District) Ltd is exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
Fund accounting
General funds are unrestricted funds and are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. - 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.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Governance and support costs
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Land & Buildings
-
2% per annum of NBV
Fixtures & Fittings
-
15% per annum of NBV
Office Equipment
-
15% per annum of NBV
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
4. Limited by guarantee
The company is limited by guarantee and as such, has no shares issued.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Donations
15,034
15,034
12,518
12,518
Other donations and legacies
Public collection boxes
130
130
--------
--------
--------
--------
15,034
15,034
12,648
12,648
--------
--------
--------
--------
6. Other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Charity Shop Income
27,616
27,616
32,359
32,359
--------
--------
--------
--------
7. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest receivable
2,627
2,627
990
990
------
------
----
----
8. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Charitable Activity
58,989
58,989
54,579
54,579
Support costs
7,780
7,780
7,400
7,400
--------
--------
--------
--------
66,769
66,769
61,979
61,979
--------
--------
--------
--------
9. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Charitable Activity
58,989
58,989
54,579
Governance costs
7,780
7,780
7,400
--------
------
--------
--------
58,989
7,780
66,769
61,979
--------
------
--------
--------
10. Net expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
1,882
1,987
------
------
11. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
895
870
----
----
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
37,866
35,566
--------
--------
The average head count of employees during the year was 6 (2023: 6 ). The average number of full-time equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Number of management staff
1
1
Number of carer staff
2
2
----
----
3
3
----
----
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
13. Trustee remuneration and expenses
There was no trustees' remuneration or other benefits for the year ended 31 July 2024 or 2023.
There were no trustees' expenses paid for the year ended 31 July 2024 or 2023.
14. Tangible fixed assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 August 2023 and 31 July 2024
103,790
19,503
520
123,813
---------
--------
----
---------
Depreciation
At 1 August 2023
30,834
16,702
501
48,037
Charge for the year
1,459
420
3
1,882
---------
--------
----
---------
At 31 July 2024
32,293
17,122
504
49,919
---------
--------
----
---------
Carrying amount
At 31 July 2024
71,497
2,381
16
73,894
---------
--------
----
---------
At 31 July 2023
72,956
2,801
19
75,776
---------
--------
----
---------
15. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,074
1,020
Social security and other taxes
170
162
Other creditors
8
8
------
------
1,252
1,190
------
------
16. Analysis of charitable funds
Unrestricted funds
At 1 August 2023
Income
Expenditure
Transfers
At 31 July 2024
£
£
£
£
£
Unrestricted Funds
84,910
45,277
(66,769)
100,365
163,783
Designated Funds
100,365
(100,365)
---------
--------
--------
---------
---------
185,275
45,277
(66,769)
163,783
---------
--------
--------
---------
---------
At 1 August 2022
Income
Expenditure
Transfers
At 31 July 2023
£
£
£
£
£
Unrestricted Funds
100,892
45,997
(61,979)
84,910
Designated Funds
100,365
100,365
---------
--------
--------
----
---------
201,257
45,997
(61,979)
185,275
---------
--------
--------
----
---------
The Trustees have decided to transfer the designated funds back to unrestricted funds.
17. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
73,894
73,894
Current assets
91,141
91,141
Creditors less than 1 year
(1,252)
(1,252)
---------
---------
Net assets
163,783
163,783
---------
---------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
75,776
75,776
Current assets
110,689
110,689
Creditors less than 1 year
(1,190)
(1,190)
---------
---------
Net assets
185,275
185,275
---------
---------
18. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
7,200
7,200
Later than 1 year and not later than 5 years
20,400
27,600
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27,600
34,800
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