2022-03-31-accounts - Merthyr Tydfil Institute For The Blind

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			Unrestricted	Unrestricted	Restricted	2022	2021
			Note	Funds	Funds	Total Funds	Total Funds
				2	2	2	2
Income and endowments		from:
Donations and legacies			3	38		38	2,973
Charitable activities			4	1,700,760	96,626	1,797,386	1,596,270
Investments			5	20,251		20,251	27,881
Total Income snd	endowments			1,721,049	96,626	1,817,675	1,629,124
Expenditure on:
Charitable activities			6	1,795,055	42,937	1,837,992	1,646,569
Total expenditure				1,795,055	42,937	1,837,992	1,646,569
Net gains'(losses)	on investments		13	1,770		1,770	3,512
Net income/(expenditure)			8	(72,236)	53,689	(18,547)	(13,933)
Transfers between	funds		18	48,139	(48,139)
Net movement ln	funds			(24,097)	5,550	(18,547)	(13,933)
Reconciliation of	Funds
Total Funds brought forward			18,19	2,085,831	916,790	3,002,621	3,016,554
Total funds carried forward			18,18	2,061,7ar	922,340	2,984,074	3,002,621

						Notes	2022	2021
Turnover							851,657	577,274
Raw materials and change in stocks							(389,606)	(257,611)
Trading Profit							462,051	319,663
Other operating income							73,856	363,685
Other operating charges							(243,202)	(225,212)
Other staff costs							(523,318)	(465,440)
							(230,613)	(7,304)
Wage cost of disabled	Supported		Business employees			6	(430,677)	(504,680)
Grant income related to		disabled	Supported		Business
employees						4	276,426	324,658
Employment &Training		Programmes		staff costs		6	(202,850)	(158,658)
Employment 8 Training		Programmes		income		4	541,758	332,154
Operating profit							(45,956)	(13,830)
Interest payable snd similar charges							(201)	(635)
Interest receivable and		similar	income				19,639	27,280
Retained profit on ordinary activities						19	(26,518)	12,815
for the financial year

			Note	2022	2021
				2
Net cash provided by (used in) operating	activities		24	(88,231)	(3,028)
Cash flows from investing activities:
Interest income				20,251	27,881
Purchase oftangible fixed assets				(132,611)	(79,702)
Prior Year adjustment to fixed assets
Proceeds from the disposal offixed assets				1,017
Proceeds from investments				1,770	3,512
Net cash provided by (used in) investing	activities			(109,573)	(48,309)
Cash flows from financing activities:
Net cash provided by (used in) financing	activities
Change in cash and cash equivalents in the	reporting	period		(197,804)	(51,337)
Cash and cash equivalents at the beginning	ofthe year			1,699,063	1,750,400
Total cash and cash equivalents at the end ofthe		year		1,501,259	1,699,063

e valued at cost. The depreciation rates	and methods us
Freehold land and buildings	2%
Plant and machinery	20%
Motor vehicles	20%
Fixtures and fittings	20%

3 Income from	Donations		and Legacies
						Total	Total
				Unrestricted	Reetrioted	funds	funds
				funds 2	ful1cle 2	2022f	2021 2
Donations				33		33	2,973
				33		33	2,973
4 Income from	Charitable		Activtties
						2022	2021
Sales, contracts, grants and		fundraising		Unrestricted	Restricted	Total	Total
				Funds	Funds	Funds	Funds
				2	2	2	2
Sales				851,657		851,657	577,274
Fundralsing						0	0
Supported Business and Placement Scheme
Access to Work TESG	Grant			233,089		233,089	279,658
Merthyr Tydfil CBC SLAs				45,000		45,000	45,000
WG Economic Resilience Grant				9,303		9,303	83,723
Coronavirus Job Retention Scheme					31,938	311938	276,995
WCVA Active Inclusion	contract			236,700		236,700	198,050
RESTART contract				177,017		177,017
JOBSENSE contract				87,648		87,648
Specialist Employment	Support contract						10,093
Employment Support Programme		Contract		38,730		38,730	124,011
				827,487	31,938	859,425	1,017,530
Other grant
Third Sector Resilience	Fund Capital		Grant		5,000	5,000
Third Sector Resilience	Fund Revenue Grant				9,500	9,500
Social Business Growth	Fund Capital Grant				40,389	40,389
VAMT Staff Welfare Revenue Grant					1,500	1,500
DWP Access to Work Grant					8,299	8,299	499
DWP Access to Work income				21,616		21,616	2,967
				21,616	64,688	86,304	3,466
Total				1,700,760	96,626	1,797,386	1,598,270

									Total	Total
					Unrestricted		Restricted		funds	funds
					funds			funds	2022	2021
							2	2	2	2
Interest and rental	income				20,251				20,251	27,881
					20,251				20,251	27,881
6 Expenditure on Chatttable			Activities
Manufacturing,	contracts,	grants	and	fundraiaing
		Fundraising		Supported	Employment	Blueprint		Governance	2022	2021
				Business	&Training		Project		Total	Total
				2	2		2	2	2
Costs directly agocated to activities
Staff Costs				430,677	502,219				932,896	918,906
Travel &Subsistence				400	907				1,307	3,696
Vehicle running costs				13,792	4,625				18,417	15,107
Materials				389,606					389,605	257,611
Manufacturing costs				136,567					136,567	128,218
Fundraising events										0
Donations and beneficiary costs										0
Administrative costs				14,263					14,263	6,407
Legal &Professional								6,000	6,000	8,665
Depreciation				38rsot	8,419		32,371		79,281	66,260
Promotion &Advertising				64						199
				1,023,860	516,170		32,371	6,000	1,578,401	1,405,069
Support costs agoeated to activities
(Overhead apportionment)
Staff Costs				111,975	111,974				223,949	209,873
Premises				5,276	5,275				10,551	8,082
Administrative costs				11,018	11,017				22,035	20,263
Legal &Professional				1,528	1,528				3,056	3,282
				129,797	129,794				259,591	241,500
Total				1,153,657	645,964		32,371	6,000	1,837,992	1,646,569

The average weekly number of persons (excluding direct uring the period was:	ors) employed by the company
	2022	2021
	Number	Number
Byactivity
Production	41	39
Selling and distribution	2	2
Administration	16	16
Placement Scheme	3	9
	62	66
Staff costs (for the above persons)	2
Wages and salaries	1,032,030	1,029,833
Social security costs	75,357	59,808
Other pension costs (see note 17)	49,458	39,137
	1,156,845	1,128,778

10 Tangible fixed assets
	Freehold	Plant and	Motor	Fixtures	Total
	land and	machinery	vehicles	and fittings
	buildings
Cost
At 1st April 2021	1,693,209	546,473	85,103	127,421	2,452,206
Additions		115,073	6,500	11,038	132,611
Disposals			22,217		22,217
At 31stMarch 2022	1,693,209	661,546	69,386	138,459	2,562,600
Depreciation
At 1st April 2021	536,400	478,384	55,776	126,882	1,197,442
Charge for the year Disposals	33,864	35,006	9,203 22,217	1,208 -	79,281 22,217
At31st March 2022	570,264	513,390	42,762	128,090	1,254,506
Net book value
At 31stMarch 2022	1&122&945	148,156	26&624	10,369	1,308,094
At 31st March 2021	1,156,808	68,089	29,327	538	1,254,764

11 Stocks
		2022	2021
		8
Raw materials	and consumables	120,814	80,267
Work in progress		2,274	6,047
Finished goods		5,739	2,521
		128,827	88,835
12 Debtors
		2022	2021
		2
Amounts falling due within one year:
Trade debtors		170,148	91,818
Other debtors		1,952	0
Prepayments	and accrued income	138,499	110,818
		310,599	202,636

24 Reconciliation activities	of net	mo	vement	in funds to net cas	h flow from operating
					2022	2021
					f	2
Net movement in funds					(18,547)	(13,933)
Add back depreciation	charge				79,281	66,260
Deduct profit on disposal offixed			assets		(1,017)
Deduct interest income	shown	in	investing	activities	(20,251)	(27,861)
Deduct gains/ add back losses		on investments			(1,770)	(3,512)
Decrease (increase) in	stock				(39,992)	(21,295)
Decrease (increase) in	debtors				(107,963)	(60,573)
Increase (decrease) in	creditors				22,028	57,906
Net cash provided by	operating		activities		(88,231)	3,026

25 Comparative Statemen	t of Fi	nancial Activities
				Total
		Unrestricted	Restricted	funds
		funds	funds	2021
Income and endowments	from:
Donations and legacies		2,973		2,973
Charitable activities		1,583,272	14,998	1,598,270
Investments		27,881		27,881
Total income and endowments		1,614,126	14,998	1&629&124
Expenditure on:
Charitable activities		1,646,569		1,646,569
Total expenditure		1,646,569		1,646,569
Net gains/(losses) on investments		3,512		3,512
Net income/(expenditure)		(28,931)	14,998	(13,933)
Transfer between funds		35,002	(35,002)
Net movement in funds		6,071	(20,004)	(13,933)
Reconciliation of Funds
Total funds brought forward		2,065,931	950,623	3,016,554
Total funds carried forward		2,072,002	930,619	3,002,621