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REGISTERED COMPANY NUMBER: 07667261 (England and Wales)
REGISTERED CHARITY NUMBER: 1143553














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 29 November 2024

for

Cardiff Central Youth Club Ltd

Cardiff Central Youth Club Ltd






Contents of the Financial Statements
for the Year Ended 29 November 2024




Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 14

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees
for the Year Ended 29 November 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 29 November 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Objectives and activities
Objectives and aims
The charity is governed by its Articles of Association.

Significant activities
The charity's purpose is to:

-Provide facilities for the local community to participate in amateur sports and leisure activities.
-Provide sports activities in a safe, clean and supervised environment.

Public benefit
We follow the Charities Commission guidance on public benefit and the charging of fees with our objects.

The charity provides gymnastics and other physical recreation facilities for the benefit of young people in Cardiff and the surrounding areas. The charity is situated in a socially deprived area of the city (the area of Splott, where the charity is based, is in the 10% most deprived areas of Wales as declared in the 2019 Welsh Index of Multiple deprivation).

Gymnastics requires specialist equipment and high ratios of qualified coaches to gymnasts to meet requirements of the Governing Body. The charity will always need to charge fees for the use of the facilities. However, we constantly review our fee structures and spending to ensure that activities are as affordable as possible.

The charity provides gymnastics training with British Gymnastics and Welsh Gymnastics qualified coaches. We offer opportunities for young people to participate at all levels of gymnastics. We also host competitions.

The gymnastics facilities are open seven days a week, offering a variety of activities to suit all ages and abilities. These include but are not exclusive of;
Parent and toddler play gymnastics sessions
Structured tiny tumblers gymnastics session
Pay as you go recreational gymnastics sessions
Recreation gymnastics courses
Girls Novice Squad
Girls Advanced Squad
Girls Elite Squad
Boys Novice Squad
Boys Advanced Squad
Boys Elite Squad
Teen Gym
Adult recreation sessions

We aim to introduce young people to the rewards of living a healthy, physical lifestyle. We teach the importance of regular exercise, healthy food choices and aspire to inspire young people to enjoy a healthy lifestyle.


Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees
for the Year Ended 29 November 2024

Achievements and performance
Charitable activities
The cost of running a large gymnastic facility, ensuring that it is staffed and equipped to the national governing standards to meet safety and welfare needs is always high. This is reflected in the accounts again this year. Staffing is the main cost, although continually ensuring sufficient coaching resources at scale remains a significant challenge. There has been an increased focus on staff development with investment in further training so more staff can coach at a higher level.

There has also been further investment in health and safety and external consultants are to be engaged to support best practice in health and safety as well as improved staff management. This is a primary concern to trustees who recognise the particular risks attached to the sport of gymnastics in relation to safeguarding and wellbeing which is high profile especially in relation to women's gymnastics. Finding and retaining enough trustees to robustly govern the club is challenging

The club has continued to benefit from the support of the Cardiff City Council and has remained in dialogue with respect to the negotiation of the lease on a peppercorn rent. Heads of terms are agreed. It is hoped that the lease will be resolved shortly, and the Club has appointed solicitors to help with the completion of this.

Reserves remain relatively low and will be a continuing focus going forward.

Investment performance
This year the Charity has consolidated its costs to provide its purpose.

Gymnastics equipment to the value of £4,011 was purchased during the year.

Financial review
Financial position
The charity made a deficit of £13,964 (2022/23: deficit of £8,122). The total unrestricted net assets stand at £27,394 (2022/23: £41,358).

Income increased to £406,378 (2022/23: £383,734).

The main area of cost growth is due to wages and salaries at the club. There have also been significant increases in energy costs. As staffing numbers have increased the club has outsourced its HR function which is also expensive but valuable. The trustees along with senior staff are working hard to offset the financial loss of previous financial years. We are increasing our higher income session and increasing the variation of walk in sessions available. We have increased the number of parties available and increased our fees and prices across the club. We plan to increase the number of daytime and evening recreational sessions over the coming year..

The average monthly number of staff employed by the club were 25 (2022/23: 19).

Reserves policy
The Trustees have recognised an amount should be retained in unrestricted reserves to continue with the current activities of the charity in the event of a decrease in income. This amount is not committed or invested in tangible fixed assets ('the free reserves'). Reserves are needed to bridge the gap between the spending and receiving of resources to cover unplanned emergency repair and other expenditure.
The Trustees consider the ideal level of free reserves should be £160,000. This is calculated as the amount needed for 3 to 6 months budgeted expenditure.

However, as of 29 November 2024, the level of free reserves stood at £16,483 (2022/23: £27,081). Our aim over the longer term is to increase the amount held in reserves.

Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee. It was incorporated on the 13th June 2011 and registered as a charity on the 1st December 2012. The company was formed under a memorandum of association. The memorandum of association sets out the objectives, governance and powers of the charitable company.


Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees
for the Year Ended 29 November 2024


Structure, governance and management
Recruitment and appointment of new trustees
Currently there are three trustees, and the club is always looking for suitable additional trustees for the Board. However, recruiting trustees with the right blend of skills and objectivity as well as willingness to accept the risks of a gymnastics club is difficult. Recruitment is ongoing.

Organisational structure
The Club Manager who as the Club's senior officer reports to the Board and takes direction and supervision. The Manager is assisted by key staff who also provide coaching.

Decision making
The Trustees are responsible for the strategy, management and day to day running of the Charity. They formulate the Charity's strategy and policy framework and oversee the smooth running of the club. The Board of Trustees meets regularly to discuss the charity's financial performance and strategic planning. Minutes are kept of all meetings. The Board of Trustees makes decisions that affect the strategic direction and approve substantial financial commitments. Each Trustee has one vote, and decisions are made when there is a majority.

There have been no significant changes in policy during the year.

Wider network
The club is affiliated to Welsh Gymnastics and British Gymnastics and follows the policies of these governing bodies with regards to health and safety, safeguarding, anti-doping, conduct and equality.

Risk management
The trustees have a duty to identify and review the risks to which the Club is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Reference and administrative details
Registered Company number
07667261 (England and Wales)

Registered Charity number
1143553

Registered office
Cardiff Central Youth Club
Ocean Park
Ocean Way
Cardiff
CF24 5EF

Trustees
P W Bryon Director
M J Higgins Trustee
Ms G L Wilsher Trustee

Company Secretary

Independent Examiner
BYB Accountancy Ltd
Incorporated Financial Accountants
39 Cardiff Road
Llandaff
Cardiff
South Glamorgan
CF5 2DP


Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees
for the Year Ended 29 November 2024

Approved by order of the board of trustees on 28 August 2025 and signed on its behalf by:





M J Higgins - Trustee

Independent Examiner's Report to the Trustees of
Cardiff Central Youth Club Ltd

Independent examiner's report to the trustees of Cardiff Central Youth Club Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 29 November 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Gary Butt FMAAT
The Association of Accounting Technicians

BYB Accountancy Ltd
Incorporated Financial Accountants
39 Cardiff Road
Llandaff
Cardiff
South Glamorgan
CF5 2DP

28 August 2025

Cardiff Central Youth Club Ltd

Statement of Financial Activities
for the Year Ended 29 November 2024

Period
1.12.22
Year Ended to
29.11.24 29.11.23
Unrestricted Total
fund funds
Notes £    £   
Income and endowments from
Recreation and other leisure facilites 228,414 199,957

Other trading activities 2 175,418 183,666
Investment income 3 2,545 111
Total 406,377 383,734

Expenditure on
Raising funds 21,947 14,013

Charitable activities
Direct wage costs 285,545 269,998

Other 112,849 107,845
Total 420,341 391,856

NET INCOME/(EXPENDITURE) (13,964 ) (8,122 )


Reconciliation of funds
Total funds brought forward 41,358 49,480

Total funds carried forward 27,394 41,358

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Balance Sheet
29 November 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
Fixed assets
Tangible assets 8 10,910 14,277

Current assets
Stocks 9 1,824 500
Debtors 10 10,468 7,599
Cash at bank and in hand 55,983 72,636
68,275 80,735

Creditors
Amounts falling due within one year 11 (42,151 ) (33,746 )

Net current assets 26,124 46,989

Total assets less current liabilities 37,034 61,266

Creditors
Amounts falling due after more than one year 12 (9,640 ) (19,908 )

NET ASSETS 27,394 41,358
Funds 14
Unrestricted funds 27,394 41,358
Total funds 27,394 41,358

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Cardiff Central Youth Club Ltd (Registered number: 07667261)

Balance Sheet - continued
29 November 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 28 August 2025 and were signed on its behalf by:





M J Higgins - Trustee

Cardiff Central Youth Club Ltd

Notes to the Financial Statements
for the Year Ended 29 November 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Improvements to property - 10% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.


Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued
for the Year Ended 29 November 2024

2. OTHER TRADING ACTIVITIES
Period
1.12.22
Year Ended to
29.11.24 29.11.23
£    £   
Parent & toddler drop in 62,192 55,447
Facilities hire 43,571 58,776
Café income 55,531 61,077
In house competition fees 14,124 8,366
175,418 183,666

3. INVESTMENT INCOME
Period
1.12.22
Year Ended to
29.11.24 29.11.23
£    £   
Bank interest received 2,545 111

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period
1.12.22
Year Ended to
29.11.24 29.11.23
£    £   
Auditors' remuneration for non audit work 4,180 2,160
Depreciation - owned assets 7,378 -
Other operating leases - 3,699

5. TRUSTEES' REMUNERATION AND BENEFITS

The remuneration benefits paid during the year to trustees, who were also directors, totals £10,444 (2023: £7,427)

The remuneration was for Michael Higgins who is employed as the head boys coach for charity. He was not paid to be a trustee of the charity.

This remuneration is made by way of provision in the Charity's governing documents.

Trustees' expenses

There were no trustees' expenses paid for the year ended 29 November 2024 nor for the period ended 29 November 2023.



Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued
for the Year Ended 29 November 2024

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

Period
1.12.22
Year Ended to
29.11.24 29.11.23
Management and coaching staff 25 19

No employees received emoluments in excess of £60,000.

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
Income and endowments from
Recreation and other leisure facilites 199,957

Other trading activities 183,666
Investment income 111
Total 383,734

Expenditure on
Raising funds 14,013

Charitable activities
Direct wage costs 269,998

Other 107,845
Total 391,856

NET INCOME/(EXPENDITURE) (8,122 )


Reconciliation of funds
Total funds brought forward 49,480

Total funds carried forward 41,358


Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued
for the Year Ended 29 November 2024

8. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
Cost
At 30 November 2023 33,796 66,147 2,348 102,291
Additions - 4,011 - 4,011
At 29 November 2024 33,796 70,158 2,348 106,302
Depreciation
At 30 November 2023 22,514 63,152 2,348 88,014
Charge for year 3,380 3,998 - 7,378
At 29 November 2024 25,894 67,150 2,348 95,392
Net book value
At 29 November 2024 7,902 3,008 - 10,910
At 29 November 2023 11,282 2,995 - 14,277

9. STOCKS
2024 2023
£    £   
Stocks 1,824 500

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,993 7,223
Other debtors 2,983 376
Prepayments 3,492 -
10,468 7,599

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 10,268 10,015
Trade creditors 6,141 570
Social security and other taxes 3,238 3,260
Other creditors 22,504 19,901
42,151 33,746


Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued
for the Year Ended 29 November 2024

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 13) 9,640 19,908

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year on demand:
Bank loans 10,268 10,015
Amounts falling between one and two years:
Bank loans - 1-2 years 9,640 19,908

14. MOVEMENT IN FUNDS
Net
At movement At
30.11.23 in funds 29.11.24
£    £    £   
Unrestricted funds
General fund 41,358 (13,964 ) 27,394

TOTAL FUNDS 41,358 (13,964 ) 27,394

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 406,377 (420,341 ) (13,964 )

TOTAL FUNDS 406,377 (420,341 ) (13,964 )


Comparatives for movement in funds

Net
At movement At
1.12.22 in funds 29.11.23
£    £    £   
Unrestricted funds
General fund 49,480 (8,122 ) 41,358

TOTAL FUNDS 49,480 (8,122 ) 41,358

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued
for the Year Ended 29 November 2024

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 383,734 (391,856 ) (8,122 )

TOTAL FUNDS 383,734 (391,856 ) (8,122 )

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 29 November 2024.