Annual Report 2010/2011

The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2011.

Constitution and Objects

The charity is constituted by a Charity Commission Scheme sealed on 14 January 2009.

Its objects are to provide a Social Welfare Centre for the benefit of the inhabitants of the area of benefit without distinction of political, religious or other opinions with the object of improving the conditions of life for the said inhabitants.

Organisational Structure

The trustees who have served the charity during the period are listed on the About Us page.

The charity is responsible for maintaining the premises in a suitable state of repair for use by those who live in the surrounding area.  It raises income through various charitable activities such as hiring out its facilities for use by the public and also incorporates a purpose built community cafe.

Financial Review

The Charity had net incoming resources of £31,105 for the year which is due solely to external grant funding for improvements to the Welfare Centre which have been capitalised on the Balance Sheet, and which are more fully referred to further in this Report. The charity’s ongoing cash flows improved slightly during the year, with net current assets increasing at year end, from £5,292 to £5,904.

Review of Activities

The trustees have referred to the guidance given by the Charity Commission on public benefit when reviewing the charity’s aims and objectives and are satisfied that public benefit requirements have been met.

During the year under review, the Centre’s facilities were regularly used by some twenty local organisations, and continued to be used for concerts and conferences. The community cafe continues to provide a welcome resource to the community.

The efficient operation and management of the Centre was achieved through proactive duties performed by the Trustees, ably assisted by the Caretaker/Cleaner.

During the year, the Trustees were successful in securing £37,355 from Carmarthenshire County Council, part of which was secured through the Rural Community Regeneration Fund, which has provided for a new central heating system, Photovotaic (Solar) Panels (which will generate electricity capable of being sold back to the Grid), the complete redecoration of all rooms in the Centre and the development of a website.

The Trustees also received funding from the Trustees of the South Wales Miners’ Welfare Trust Fund Scheme, which provided for the cost of installing a new Extractor Canopy in the Community Cafe; these works were required by the Local Authority’s Environmental Services directorate. The Trustees are appreciative of both funders for the amounts allocated, which have enabled the improvements to be carried out.

The Trustees also embarked upon a Recycling Initiative. New recycle bins were delivered and Users asked to separate waste; it is anticipated that 75% of all waste will be capable of being recycled, and will allow for a slight reduction in collection costs.

The Trustees participated in a Voluntary Land Registration Initiative which had been organised in conjunction with the Coal Industry Social Welfare Organisation and Land Registry. This has enabled the charity’s land holdings to be properly registered at Land Registry and was completed in the absence of any legal costs.

Investment Policy

There is no investment policy as such in place although the trustees have taken the sensible approach and placed the bulk of the charity’s liquid assets are held in interest bearing bank accounts which provide a small amount of extra income for the charity, but mean that the funds are readily available as and when they are needed.

Reserves Policy

It is the policy of the trustees to maintain unrestricted funds which are the free reserves of the charity, at a level to provide sufficient funds to cover anticipated administration and support costs.

Risk Management

The trustees are aware of the operational and financial risks which the charity faces and regularly reviews those risks to mitigate against any impact they may have on the charity.

Statement of Trustees’ Responsibilities

Law applicable to charities in England and Wales required the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the trustees are required to:

  1. select suitable accounting policies and then apply them consistently.
  2. observe the methods and principles in the Charities SORP.
  3. make judgements and estimates that are reasonable and prudent.
  4. state whether applicable accounting standards have been followwed subject to any material departures disclosed and explained in the financial statements.
  5. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 1993.  They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.