2023-03-31-accounts

CONTENTS	Page
Trustees Report
Independent report ofthe Auditors	17
Statement offinancial activities	21
Profit and loss account	22
Balance sheet	23
Statement ofCash Flows	24
Notes to the financial statements	25

			Unrestricted	Unrestricted	Restricted	2023	2022
			Note	Funds	Funds	Total Funds	Total Funds
				8	8	8	8
Income and endowments		from:
Donations and legacies			3	245		245	38
Charitable activities			4	1,999,010	16,902	2,015,912	1,797,386
Investments			5	25,802		25,802	20,251
Total income and	endowments			2,025,057	16,902	2,041,959	1,817,675
Expenditure on:
Charitable activities			6	2,038,238	169902	2,055,140	1,837,992
Total expenditure				2,038,238	16,902	2,055,140	1,837,992
Net gains/(losses)	on investments		13	(843)		(843)	1,770
Net income/(expenditure)			8	(14,024)		(14,024)	(18,547)
Transfers between	funds		18	41,963	(41,963)
Net movementin	funds			27,939	(41,963)	(14,024)	(18,547)
Reconciliation of	Funds
Total Funds brought forward			18,19	2,061,734	922,340	2,984,074	3,002,621
Total funds carried forward			18,19 &20	2,089,673	880,377	2,970,050	2,984,074

						Notes	2023	2022
Turnover							983,611	851,657
Raw materials and change in stocks							(439,595)	(389,606)
Trading Profit							544,016	462,051
Other operating income							49,003	73,856
Other operating charges							(303,821)	(243,202)
Other staff costs							(595,796)	(523,318)
							(306,598)	(230,613)
Wage cost of disabled	Supported		Business employees				(571,972)	(430,677)
Grant income related to		disabled	Supported		Business
employees							244,989	276,426
Employment &Training		Programmes		staff costs			(91,958)	(202,850)
Employment &Training		Programmes		income			737,908	541,758
Operating profit							12,369	(45,956)
Interest payable and similar charges							(34)	(201)
Interest receivable and		similar	income				25,155	19,639
Retained profit on ordinary activities						19	37,490	(26,518)
for the financial year

			Note	2023	2022
				2	2
Net cash provided by (used in) operating	activities		24	192,594	~55,295
Cash flows from investing activities:
Interest income				25,802	20,251
Purchase oftangible fixed assets				(82,282)	(132,611)
Prior Year adjustment to fixed assets
Proceeds from the disposal offixed assets					1,017
Proceeds from investments				(843)	1,770
Net cash provided by (used in) investing	activities			(57,323)	(109,573)
Cash flows from financing activities:
Net cash provided by (used in) financing	activities
Change in cash and cash equivalents in the	reporting	period		125,211	~197,592
Cash and cash equivalents at the beginning	ofthe year			1,501,260	1,699,063
Total cash and cash equivalents at the end ofthe		year		1,636,471	1,501,260
Analysis ofCash and Cash Equivalents
Cash at bank				312,428	160,778
Short Term Investments				1,324,043	1,340,482
Total cash and cash equivalents				1,636,471	1,501,260

3 income from	Donations	an	d Legacies
						Total	Total
				Unrestricted	Restricted	funds	funds
				funds	funds	2023	2022
				a	6	6	6
Donations							38
				246		245	38
4 income from	Charitable	Activities
						2023	2022
Sales, contracts, grants and fundraising				Unrestricted	Restricted	Total	Total
				Funds	Funds	Funds	Funds
				2	2	2	6
Sales				983,611		983,611	851,657
Fundraising				400		400	0
Supported Business and Placement			Scheme
Access to Work TESG	Grant			199,989		199,989	233,089
Merthyr Tydfil CBCSLAs				45,000		45,000	45,000
WG Economic Resilience Grant							9,303
Coronavirus Job Retention Scheme					16,902	16,902	31,938
WCVA Active Inclusion	contract			237,488		237,488	236,700
RESTART contract				213,357		213,357	177,017
JOBSENSE contract				268,932		268,932	87,648
Specialist Employment	Support contract
Employment Support Programme		Contract		18,132		18,132	38730
				982,897	16,902	999,799	859,425
Other grant
Third Sector Resilience	Fund Capital Grant						5,000
Third Sector Resilience	Fund Revenue		Grant				9,500
Social Business Growth	Fund Capital		Grant				40,389
VAMT Staff Welfare Revenue Grant							1,500
DWP Access to Work Grant							8,299
DWP Access to Work Income				32,101		32,101	21,616
				32,101		32,101	86,304
Total				1,999,010	16,902	2,015,912	1,797,386

6	Inc	ome	from Investments
						Total	Total
				Unrestricted	Restricted	funds	funds
				funds	funds	2023	2022
				2		2	2
Interest	and	rental	income	25,802		25,802	20,251
				25,802		25,802	20,251

Manufacturing, contracts,	grants snd	fundrsising	fundrsising
	Fundraising	Supported Employment		Blueprint	Governance	2023	2022
		Business	&Training	Pro)act		Total	Total
		2	2	2	2	2	2
Costs directly allocated to activities
Staff Costs		571,972	434,394			1,006,366	932,696
Travel &Subsistence		698	1,879			2,577	1,307
Vehicle running costs		37,677	7,564			45,241	18,417
Materials		439,595				439,595	389,606
Manufacturing costs		140,745				140,745	136,567
Fundraising events							0
Donations and beneficiary costs		5,000	5,000			10,000	0
Administrative costs		1,962				1,962	14,263
Legal &Professional		(0)			7,475	Trt75	6,000
Depreciation		47,873	8,419	32,371		88,663	79,281
Promotion &Advertising		846				846	64
		1,246,368	457,256	32,371	7,475	1,743,470	1,578,401
Support costs allocated to activities
(Overhead apportionment)
Staff Costs		126,680	126,680			253,360	223,949
Premises		14,196	14,197			28,393	10,551
Administrative costs		13,525	13,525			27,050	22,035
Legal &Professional		1,433	1,434			2,867	3,056
		155,834	155,836			311,670	259,592
Total		1,402,202	613,092	32,371	7,475	2,055,140	1,637,992

	2023	2022
	Number	Number
Byactivity
Production	37	41
Selling and distribution	2	2
Administration	16	16
Placement Scheme	4	3
	59	62
Staff costs (for the above persons)	2
Wages and salaries	1,102,080	1,032,030
Social security costs	91,551	75,357
Other pension costs (see note 17)	66,096	49,458
	1,259,727	1,156,845

10 Tangible	fixed asse	ts
		Freehold	Plant and	Motor	Fixtures	Total
		land and	machinery	vehicles	and fittings
		buildings
		F
Cost
At 1st April 2022		1,693,209	661,546	69,387	138,458	2,562,600
Additions		4,245	61,850	10,995	5,192	82,282
Disposals			103,711		5,290	109,001
At 31st Nlarch	2023	1,697,454	619,685	80,382	138,360	2,535,881
Depreciation
At 1st April 2022		570,264	513,390	42,762	128,090	1,254,506
Charge for the	year	33,900	42,519	9,753	2,491	88,663
Disposals			103,711		5,290	109,001
At 31st March	2023	604,164	452,198	52,515	125,291	1,234,168
Net book value
At 31st March	2023	1,093,290	167,487	27,867	13,069	1,301,713
At 31st March	2022	1,122,945	148,156	26,825	10,368	1,308,094
11 Stocks
					2023	2022
					8
Raw materials	and consumables				117,473	120,814
Work in progress					2,274	2,274
Finished goods					5,739	5,739
					125,486	128,827
12 Debtors
					2023	2022
					8
Amounts falling due within one year:
Trade debtors					189,453	170,148
Other debtors					732	1,952
Prepayments	and accrued income				68&509	138,499
					258,694	310,599

						2023	2022
							2
Charities Official		Investment		Fund (historical cost 21,144)		21,435	22,278
Fixed	Rate Deposits					1,302,608	1,318,204
						1,324,043	1,340,482
14	Cash at Bank and in			Hand
						2023	2022
						F
Cash	at bank and in hand					312,428	160,778
						312,428	160,778
15	Creditors:	amounts		falling due within one year
						2023	2022
						2
Trade	creditors					142,417	82,204
Other	taxation and social security costs					39,415	54,583
Other	creditors					9,637	7,483
Accruals and deferred			income			160,845	120,436
						352,314	264,706
16	Financial	Instruments
						2023	2022
						F
Carrying amount offinancial					assets
Investments measured			at fair value			1,324,043	1,340,482
Debt	instruments	measured		at amortised cost		467,163	332,878
						1,791,206	1,673,360
Carrying amount offinancial					liabilities
Measured at amortised			cost			118,146	89,686

					Transfers to
		At 1st April	Receipts	in	Profit and loss	At 31stMarch
		2022	year		in year	2023
				2	F	2
Job Retention	Scheme		16,902		(16,902)
Other revenue	grants
Other capital	grants	59,828			(16,244)	43,584
Blueprint project		862,512			~26,719	836,793
		922,340	16,902		58,865	880,377

Previous year
				Transfers to
		At 1stApril	Receipts in	Profit and loss	At 31st March
		2021	year	in year 2	2022 f
Job Retention	Scheme		31,937	(31,937)
Other revenue	grants		11,000	(11,000)
Other capital	grants	28,539	53,689	(22,400)	59,828
Blueprint project		888,251		(25,739)	862,512
		916,799	96,626	91,076	922,340

20 Analysis of	net assets b	etween funds
		Restricted	Unrestricted	Funds
		Fund
		Capital	Capital &	Profit	Total
		Grant	Charitable	and loss
		reserve	reserve	account
Tangible fixed assets		880,377	58,0IO	363,326	1,301,713
Stocks			67,187	58,299	125,486
Debtors			376,473	(187,137)	189,336
Investments			21,433	1,302,610	1,324,043
Cash at bank and	in hand		116,545	195,883	312,428
Creditors			(169,847)	(113,109)	(282,956)
At 31st March 2023		880,377	469,801	1,619,872	2,970,050

24 Reconciliation activities	of net	m	ovement	in funds to net ca	sh flow from operating
					2023	2022
					2
Net movement in funds					(14,024)	(18,547)
Add back depreciation	charge				88,663	79,281
Deduct profit on disposal of fixed			assets			(1,017)
Deduct interest income	shown	in investing		activities	(25,802)	(20,251)
Deduct gains/ add back losses		on investments			843	(1,770)
Decrease (increase) in	stock				3,341	(39,992)
Decrease (incrsase) in	debtors				51,905	(107,963)
Increase (decreass) in	creditors				87,608	22,028
Net cash provided by	operating		activities		192,534	(88,230)

25 Comparative Statemen	t of Fi	nancial Activities
				Total
		Unrestricted	Restricted	funds
		funds	funds	2022
				P
Income and endowments	from:
Donations and legacies		38		38
Charitable activities		1,700,760	96,626	1,797,386
Investments		20,251		20,251
Total income and endowments		1,721,049	96,626	1,817,675
Expenditure on:
Charitable activities		1,795,055	42,937	1,837,992
Total expenditure		1,795,055	42,937	1,837,992
Net gains/(losses) on investments		1,770		1,770
Net income/(expenditure)		(72,236)	53,689	(18,547)
Transfer between funds		48,139	(48,139)
Net movement in funds		(24,097)	5,550	(18,547)
Reconciliation of Funds
Total funds brought forward		2,085,831	916,790	3,002,621
Total funds carried forward		2,061,734	922,340	2&984&074