2022-03-31-accounts - Agoriad Cyfyngedig

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Agoriad Cyf

Trustees Report

For the period ended 31st March 2022

The trustees present their report and accounts for the period 1st April 2021 to 31st March 2022.

Company Information

The names of the trustees who have acted during the period, the address of the registered office and the names and addresses of the Solicitors and Auditors of the Company are listed at the end of this report.

Structure Governance and Management

Agoriad is a registered charity and is also registered as a company limited by Guarantee. It is governed by a board of trustees who are appointed annually at the AGM. The period of office is for a year before re appointment becomes necessary. The board meets formally at least 4 times a year. The day-to-day management of the company is delegated to the Chief executive. Who within his job description has limits of authority stated. Clear protocols exist for decision making at both strategic and operational levels. Board approval is needed for any expenditure items above £3000 and any cheques for over £250 must have a board member signature as well as that of the Chief Executive. Board members are recruited through advertising and through circulation of opportunities in the company magazine.

Trustees are given access to any relevant training offered by the local Community Voluntary Councils. Induction of trustees consists of relevant training, meetings with staff, and other board members and also with the company accountant. Trustees will be given copies of all necessary company documentation, handbooks and business plans for discussion with Chief Executive and Board members.

Agoriad holds membership of a wide variety of bodies and organisations that are relevant to our aims. These include the WCVA, Social Firms Wales, and the CVC’s Medrwn Mon and Mantell Gwynedd. In addition, we have extensive network

contacts with disability specific groups, local councils, DWP, Job Centre Plus and Welsh Assembly Government bodies.

Risk management is regularly reviewed and as well as board and staff input, contributions are sought from outside organisations who have specific skills e.g., chartered accountants’ employment law and H&S specialists.

Constitution, Objectives and Policies:

The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association.

The company’s objects and principal activities remain that of seeking to provide a service to disabled and disadvantaged client’s that is geared towards helping them into employment or vocational training.

It is our policy that:

· The services we offer will be flexible and responsive to meet the varied needs of the clients and stakeholders associated with our business.

· The service will be capable of responding to take maximum advantage of any political, environmental, and economic circumstances that impact upon gaining employment and training opportunities for our client groups.

· Agoriad will seek to maximise any opportunities that could be used to advance the employability of disabled people. These will include any relevant schemes through the Jobcentre Plus, Welsh Government, and vocational training courses in further education, work experience or vocational training in any other setting. Agoriad will also seek collaborative working opportunities from European funding opportunities.

The roles of the Department of Work and Pensions and the Welsh Government in the provision of training opportunities will be fully recognised and utilised as having good impact at local level and appropriate action will be taken to ensure that the needs of people with a disability or at disadvantage are met in an

appropriate way, commensurate to need and outcomes beyond training.

Agoriad will pursue a strategy of business development that is based on staff capability. This will be underpinned by offering all staff appropriate training and development opportunities.

Agoriad will take steps to ensure that every referral to its service will be assessed initially to establish the appropriateness and needs of the individual. Any referral not accepted will be notified as such, and explanation given as to the nature of the rejection. Individuals accepted will undergo a more detailed assessment to determine strengths and needs and to ascertain individual aspirations and requirements.

In-Depth Vocational Assessments and Vocational Action Plans will be prepared for each individual and agreed prior to the commencement of any action. In-Depth Vocational Assessments and Vocational Action Plans will be regarded as under ownership of the individual and accessed by other agencies only with the expressed permission of that individual.

Agoriad will develop marketing strategies to identify employers and employment opportunities commensurate with individual need and further to enlist the support of employers by overcoming prejudice and ignorance of the needs of people with disabilities.

Agoriad will attempt to ensure that individuals are not placed into an employment situation unless the conditions are correct. We will also attempt to ensure that any support, financial or human that is required will be in place at the commencement of the employment, training or any other circumstance.

Agoriad will ensure that where individuals are denied the right of access to employment situations because their support or finance requirements are greater than the resources available, all such denials will be brought to the attention of the funding authority responsible and attempt made to have the individual requirements met.

There have been no material changes to our policies since we last reported our activities apart from any legal requirements.

Developments, Activities and Achievements:

The trustees consider that the performance of staff delivering a service to disabled and disadvantaged clients to be both successful and delivered in a professional manner.

Agoriad position regarding its funding is as follows:

· SLA funding and spot purchase arrangements which derives from Local Authorities. This is diminishing as client numbers drop and no new referrals are being provided. The traditional flow of clients from Local authorities is also being affected by in house retention of clients to go on Local Authority run projects and schemes. The Covid 19 situation has seen the stalling of some collaborative work, however it is likely to resume post may.

There has been delays in procurement for a variety of projects and contracts sustainable social services, Job support Wales and the Work and Health Programme are still to be offered. This has affected our role going forward and the dominance of prime contractors on DWP contracts present a significant risk going forward.

· Trading income has been affected by Covid and no clear identification as to what trends will emerge going forward is yet available. This will be a key aspect of our planning for sustainability going forward.

There is an outstanding debt due from a company who utilised facilities in Caffi Ffynon of around £6000 that has been carried forward, but the likelihood of it being recouped is minimal and it will probably have to be written off as a bad debt..

Agoriad’s activities are available to clients through either the medium of Welsh or English.

Future Developments:

The Key issues for Agoriad over the short and medium term will be coping with the business environment post covid. Strategies for small indigenous third sector organisations such as Agoriad to develop the ability and willingness to form collaborative arrangements to compete, share resources and enable economies of scale and critical mass to be established will be critical. Procurement practices again will impact strongly on our desire to be sustainable. In respect of risk analysis there are a

number of factors that have caused and continue to cause concern to the trustees. These include:

· There are ongoing significant risks for Agoriad as well as the third sector generally being presented in the procurement practices of central and local government. This situation is being compounded by the general economic downturn and the uncertainty around how Brexit will pan out.

· With such a reliance on public sector opportunities the rate the public sector divests these opportunities and their approach to collaborative working is raising business planning and sustainability questions. Despite many attempts Agoriad and similar third sector organisations are finding it difficult to establish collaborative arrangements with the public sector.

During the last year Agoriad has continued the process of developing and consolidating its social enterprises and Social Firm activities. Agoriad continues to seek Collaborative working opportunities pan Wales regarding business and project development work. We are to become partners in the Job sense project alongside Elite supported employment agency, COS and MITB.

The Partnership established with Elite, Learning Disabilities Wales, All Wales People first and Cardiff university on the Engage to Change project which utilises lottery and Welsh Assembly Government funding, that is concerned with helping young people with LD or who are on the ASD to gain employment continues to develop legacy activity and opportunities in supported internships and supported shared apprenticeships are emerging. This involves sub-contracting to local colleges. and the opportunity to influence policy and develop wider networking is occurring. The working relationship with Betsi Cadwallader Health Board is being developed and this is seen as a breakthrough area to Target in respect of the public sector offering employment and training for disabled and disadvantaged clients. Agoriad has developed an Internship model with Coleg Llandrillo Menai that is to be used in Gwynedd and Anglesey..

Staff Changes

The have been no significant staff changes during the year. The Board is now down to 2. Agoriad has advertised and continues to look for new Board members. A third person is now about to join

the Board. We have obtained the services of an experienced CEO as an advisor to the Board in respect of DWP contracts.

Subsidiary Companies

Antur Dyffryn Ogwen

The company acquired Antur Dyffryn Ogwen Cyf in March 2006. This company is a registered charity and provides work experience to people with learning disabilities by running a café from the premises, which it owns in Bethesda, Gwynedd.

The company suffered a deficit of £4,170 for the year and held reserves of £63,920 at the 31[st] March 2022.

Dwr Cerist

Dwr Cerist was incorporated in March 2009 as a vehicle to undertake the trading activity of the water bottling plant acquired on a 5 year lease in January 2009.

The company generated a surplus for the year of £13,232 (2021 £20,773)

· Agoriad Trading Cyf

Agoriad Trading Cyf was incorporated on the 27th June 2011 as a trading subsidiary to run the new Work programme contract. It also runs a café in the Snowdonia National Park.

The company suffered a loss for the year of £20,308 (2021 profit £44,121)

Mon Social Enterprises Ltd

Mon Social Enterprises Ltd was incorporated on the 9th January 2012 to develop social enterprises on Anglesey. The company commenced trading in April 2013 from cafes at Llys Llewelyn and Breakwater Park on Anglesey. The company suffered a loss for the year of £11,854 (2021 profit £6,894)

Financial Review

Agoriad Cyf generated a surplus for the year of £79,643 (2021 £46,654)

The group generated a surplus for the year of £56,543 (2021 £113,145)

Reserves Policy

Agoriad has a reserves policy that recognises and makes provision for the following situations:

· Wind down costs including redundancy costs for all company activities.

Necessary cash flow provision to cover 3 month expenses.
Funding for business development activities.
To provide working capital to fund delivery of contracts.

Statutory Information

Charity Commission No: 1010165

Registered No: 2700109

Registered Offices: Agoriad Cyf, Porth Penrhyn, Bangor, Gwynedd, LL57 4HN

Chief Executive: Mr A Beechey

Names of Members of the Board of Trustees 2019/2020

Mr David Austin

Mr Michael Barlow

The Company Accountants are:

A. Hughes, Jones and Dyson

Capel Moreia

South Penrallt

Caernarfon

Gwynedd

The Company Solicitors are:

Walker Smith & Way

26 Nicholas Street

Chester

CH12PQ

This report was approved by the Trustees on the 22[nd] December 2022 and signed on their behalf.

David Austin

Board Member

AGORIAD CYFYNGEDIG.

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022

Company Number : 2700109 Registered Charity Number : 1010165

A Hughes-Jones, Dyson & Co Chartered Accountants Caernarfon

AGORIAD CYFYNGEDIG.

Contents	Page
Trustees' Report	1
Statement of Trustees' Responsibilities	2
Auditors' Report	3 - 4
Income & Expenditure Account	5
Statement Of Financial Activities	6
Balance Sheet	7
Notes	8 - 13

AGORIAD CYFYNGEDIG.

Report of The Trustees For the Year Ended 31st March 2022

The trustees present their annual report on the affairs of the Group together with the Accounts and Auditors Report for the above period.

This report complies with the Companies Act 2006 and should be read in conjunction with the full Trustees' Annual Report compiled according to the Statement of Recommended Practice for Accounting by Charities.

Principal Activities

The principal activity of the company was to promote and facilitate through economic integration the needs of clients with disabilities in seeking employment and training opportunities and in ensuring support for the individual to achieve this.

Trustees

The trustees of the company during the year were:

Mr David Austin Mr Mick Barlow

Statement Of Disclosure Of Information To Auditors

So far as the trustees are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each trustee has taken all steps that they ought to have taken as trustees in order to make aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Public Benefit Statement

The Trustees confirm that they have complied with their duty under section 17(5) of the 2011 Charities Act. They have considered the public benefit guidelines published by the Charity Commission and believe they have followed it's guidance in this area. The activities undertaken by the Charity during the year in furtherance of it's charitable purpose are outlined in the full trustee's report, and the trustees are satisfied that such activities provide a public benefit.

Auditors

A. Hughes Jones Dyson & Co. have expressed their willingness to remain as auditors of the company.

The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

M Barlow

By Order of the Board - M Barlow

22.12.2022

Date

AGORIAD CYFYNGEDIG.

Statement of the Trustees' Responsibilities

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial accounts;
prepare the financial accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial accounts comply with Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

M Barlow

By Order of the Board - M Barlow

22.12.2022

Date

Report Of The Independent Auditors To The Members Of Agoriad Cyfyngedig.

Opinion

We have audited the financial statements of Agoriad Cyf (the ''Charity'') for the year ended 31st March 2022 which comprise the statement of financial activities, balance sheets and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion, the financial statements:

give a true and fair view of the state of the Charity's affairs as at 31st March 2022 and of its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard and the provisions available for small entities, in the circumstances set out in note 1 to the financial statements' and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide the basis of our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Report Of The Independent Auditors To The Members Of Agporiad Cyfyngedig

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the trustee's report (incorporating the strategic report and the directors' report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees' report (incorporating the strategic report and the director's report) have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us;
the financial statements are not in agreement with the accounting records and returns;
certain disclosures of trustee' remuneration specified by law are not made; or
we have not obtained all the information and explanations necessary for the purpose of our audit.

Responsibilities of the trustees

As explained more fully in the trustees' responsibilities statement set out on page 2, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatement can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have assessed that the risk to the financial statements of being susceptible to material misstatement is low. We believe audit work undertaken is sufficient to identify material misstatement The key Laws and regulations affecting the company's ability to trade relate to Social Care regulations and Charity Commission rules. We have not identified or been advised of actual or suspected fraud or instances of non compliance with key regulations.

The experience of the audit team was deemed to be sufficient to identify fraud or errors in this engagement.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. The description forms part of our auditor's report.

B Hughes

Mr Brian Hughes (Senior Statutory Auditor) for and on behalf of A. Hughes-Jones, Dyson & Co. Statutory Auditors & Chartered Accountants Capel Moreia, South Penrallt, Caernarfon, Gwynedd, LL55 1NS

Date

22.12.2022

AGORIAD CYFYNGEDIG.

Consolidated Income and Expenditure Account For The Year Ended 31st March 2022

Notes Turnover Cost of Sales Gross Profit Other Operating Income Other Operating Expenditure Operating Profit 2 Interest Received Interest Paid Profit Before Tax Deferred Tax Profit for the Year Reserves Brought Forward Reserves Carried Forward	2022 £ 929,377 805,136 124,241 75,361 134,094 65,508 - - 65,508 (8,965) 56,543 284,748 341,291	2021 £ 723,998 575,228
		148,770 109,817 149,183
		109,404 - -
		109,404 3,741
		113,145 171,603
		284,748

AGORIAD CYFYNGEDIG.

Consolidated Statement Of Financial Activities For The Year Ended 31st March 2022

Notes Unrestricted Funds Income £ Other Trading Activities 4 264,252 Investment Income - Bank Interest - Charitable Activities 3 740,486 Total Income 1,004,738 Expenditure Raising Funds 5 296,589 Charitable Activities 6 642,641 Total Expenditure 939,230 Net Income 2 65,508 Deferred Tax Provision 16 (8,965) Transfers Between Funds - Net Movement in funds 56,543 Balances brought forward 284,748 Balances Carried forward 341,291	Restricted Funds £ - - - - - - - - - - - - -	Total Funds 2022 £ 264,252 - 740,486 1,004,738 296,589 642,641 939,230 65,508 (8,965) - 56,543 284,748 341,291	Total Funds 2021 £ 200,286 - 614,179
			814,465
			136,925 568,136
			705,061
			109,404 3,741 -
			113,145 171,603
			284,748

There are no unrealised gains or losses which do not appear in the SOFA. All the above results are derived from continuing activities.

AGORIAD CYFYNGEDIG. (Company Number: 2700109)

Consolidated Balance Sheet As At 31st March 2022

Notes Fixed Assets Tangible Assets 9 Current Assets Stock Debtors 10 Cash at Bank and In Hand Liabilities: amounts falling due within one year 11 Net Current Assets Total Assets Less Current Liabilities Creditors:amounts falling due in more than one year 12 Provisions For Liabilities 16 Net Assets Funds Unrestricted 17 Restricted	£ £ 266,951 266,951 15,265 140,013 199,681 354,959 (175,311) 179,648 446,599 (105,308) - 341,291 341,291 - 341,291 2022	£ £ 288,486 288,486 21,536 127,924 134,103 283,563 (170,285) 113,278 401,764 (117,016) - 284,748 284,748 - 284,748 2021	£ £ 288,486 288,486 21,536 127,924 134,103 283,563 (170,285) 113,278 401,764 (117,016) - 284,748 284,748 - 284,748 2021
			288,486 113,278
			401,764 (117,016) -
			284,748
			284,748 -
			284,748

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

M Barlow

Trustee - M Barlow

22.12.2022 Date

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2022

1 Accounting Policies

Basis Of Accounting

These financial statements have been prepared in accordance with the provisions of Section 1A ''Small Entities'' Reporting Standard for Smaller Entities and in accordance with the Statement of Recommended Practice of the Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006 and in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities.

Basis Of Consolidation

The Group accounts consolidate the accounts of Agoriad Cyfyngedig and its subsidiary undertakings.

Turnover

Turnover represents net sales of goods and services excluding Value Added Tax.

Grants

Grants of a revenue nature are credited to the income and expenditure account in the period in which they are receivable. Grants received in advance are carried forward for matching with the appropriate expenditure.

Resources Expended

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

Resources expended on restricted funds relate to expenses incurred solely on the project together with overheads apportioned on the basis of beneficiary hours.

Tangible Fixed Assets

Tangible fixed assets are stated at cost.

Depreciation is provided at the following rates on the net book value before charging depreciation at the year end in order to write off their cost less their estimated residual values over their expected useful economic lives.

ful economic lives.
Leasehold Improvements	over period of primary lease
Motor Vehicles	25%
Plant & Equipment	20%
Fixtures & Fittings	20%

Capital items below £100 are written off to expenditure in the year.

Pension Contributions

The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the Income and Expenditure account.

Leased Assets

Fixed assets acquired under finance leases are included in the balance sheet at cost less depreciation. Interest payable in each period is charged to the profit and loss account. Operating leases are charged to the profit and loss account as incurred.

Auditors

In common with many businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

is stated after charging: Pension Contributions Auditors' Remuneration Depreciation on Tangible Fixed Assets Loss on Disposal of Assets Operating Lease Charges	2022 £ 19,653 10,260 23,668 897 (431)	2021 £ 17,968 10,000 24,618 - 8,323

2 Net Incoming Resources for the year

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2022

3 Incoming Resources From Charitable Activities

Unrestricted Funds £ Gwynedd County Council Grants 51,943 Lottery Grant 535,206 Access to Work 8,043 Mentoring 33,122 Job coaching & Training Grants 48,982 Jobsense Project 40,292 Elite Powys Supported Employment - Other Income 10,551 Covid Support Grants 12,347 740,486	Restricted Funds £ - - - - - - - - - -	Total Funds 2022 £ 51,943 535,206 8,043 33,122 48,982 40,292 - 10,551 12,347 740,486	Total Funds 2021 £ 38,608 430,935 3,677 - - - 38,271 24,904 77,784
			614,179

4 Activities To Generate Funds

Unrestricted Funds £ Other Income 6,841 Antur Dyffryn Ogwen Sales 29,754 Dwr Cerist Water Sales 13,464 Mon Social Enterprises Cafe Sales 82,238 Agoriad Trading Sales 129,354 Covid Support Grants 2,601 264,252	Restricted Funds £ - - - - - - -	Total Funds 2022 £ 6,841 29,754 13,464 82,238 129,354 2,601 264,252	Total Funds 2021 £ 1,292 24,593 6,875 20,190 56,357 90,979
			200,286

5 Costs To Generate Funds Unrestricted Funds £ Antur Dyffryn Ogwen Purchases 9,918 Dwr Cerist Cost of Sales 15,742 Dwr Cerist Overheads 26,611 Agoriad Trading Cost of Sales 143,357 Mon Social Enterprises Cost of Sales 71,077 Mon Social Enterprises Overheads 29,884 296,589	Restricted Funds £ - - - - - - -	Total Funds 2022 £ 9,918 15,742 26,611 143,357 71,077 29,884 296,589	Total Funds 2021 £ 9,136 3,890 26,705 36,444 35,314 25,436
			136,925

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2022

6

Charitable Activities Unrestricted Funds £ Salaries & Wages 428,735 Staff Pension Scheme 17,866 Staff Health Plan 1,890 Travelling & Motor Expenses 29,125 Client Expenses 1,277 Lottery Expenses 76,391 Equipment Leasing (431) Subscriptions 2,788 Telephone Charges 5,199 Heat & Light 2,259 Rent & Rates 19,136 Office Costs 6,627 Repairs & Renewals 9,337 Cleaning - Insurances 10,489 Computer & IT Costs 7,303 Sundry Expenses 3,883 Bank Charges 2,309 Exchange Loss - Legal & Professional Fees 10,562 Auditors Remuneration 4,800 Depreciation 3,096 642,641	Restricted Funds £ - - - - - - - - - - - - - - - - - - - - - - -	Total Funds 2022 £ 428,735 17,866 1,890 29,125 1,277 76,391 (431) 2,788 5,199 2,259 19,136 6,627 9,337 - 10,489 7,303 3,883 2,309 - 10,562 4,800 3,096 642,641	Total Funds 2021 £ 407,250 15,359 1,949 14,302 1,990 42,577 6,403 2,077 6,385 8,265 16,803 2,288 6,400 201 9,004 4,516 534 2,086 (11) 10,816 4,800 4,142
			568,136

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2022

8

Staff Costs Wages and Salaries Social Security Costs		2022 £ 493,994 34,801 528,795	2021 £ 434,946 29,943
			464,889

The average number of employees was 29 (2021 23).

None of the Charity's employees received emoluments over £60,000 in the current or preceding year.

9 Tangible Fixed Assets - Group

Cost At beginning of year Additions Disposals At end of year Depreciation At beginning of year Charge for year Eliminated on disposal At end of year Net Book Value At 31st March 2022 At 31st March 2021	Freehold Property £ 90,000 - - 90,000 - - - - 90,000 90,000	Freehold Improv'ts £ 11,688 - - 11,688 9,829 279 - 10,108 1,580 1,859	Leasehold Improv'ts £ 258,575 - - 258,575 107,389 13,609 - 120,998 137,577 151,186	Plant & Machinery £ 235,613 3,030 - 238,643 203,111 6,391 - 209,502 29,141 32,502	Fixtures & Fittings £ 74,152 - - 74,152 68,446 1,805 - 70,251 3,901 5,706	Motor Vehicles £ 13,135 - (2,835) 10,300 5,902 1,584 (1,938) 5,548 4,752 7,233	Total £ 683,163 3,030 (2,835)
							683,358 394,677 23,668 (1,938) 416,407 266,951 288,486

Freehold properties were re-valued on 28th March 1994 on the basis of their open market freehold values. The figures on a historical cost basis are;

1 Victoria Place £75,827 2 Victoria Place £41,221

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2022

10 Debtors - Group Grants Due To Be Received Trade Debtors Due From Agoriad Training Cyf. Other Debtors Deferred Tax Prepayments 11 Liabilities - Group: Amounts falling due within 1 year Creditors & Accruals 12 Creditors - Group: amounts falling due in more than 1 year Deferred Income	2022 £ 33,713 4,679 - 6,592 92,529 2,500 140,013 2022 £ 175,311 175,311 2022 £ 105,308 105,308	2021 £ 12,990 6,507 927 6,006 101,494 -
		127,924
		2021 £ 170,285
		170,285
		2021 £ 117,016
		117,016

13 Statutory Information

Agoriad Cyfyngedig is a company limited by guarantee and does not have any share capital. The Company is registered in England & Wales company number 2700109.

The registered office is 2 Victoria Place, Bethesda, Bangor, Gwynedd, LL57 3AG.

14 Subsidiary Undertakings

Agoriad Cyf acquired a subsidiary undertaking Antur Dyffryn Ogwen Cyf on the 14th March 2006. The company is engaged in the provision of day care aimed at providing training for individuals with learning difficulties in general life skills whilst encouraging integration, socially and commercially, with the local community. These objectives are met by running a café to provide a working environment for the students.

On the 19th March 2009 the company acquired 100% of the share capital of Dwr Cerist Cyf a company incorporated to undertake the trading activity of the mineral water bottling business acquired in January 2009.

A further subsidiary, Agoriad Trading was incorrporated on 27th June 2011.The main activity of the company is to deliver the Government's Work Programme. The objective of which is to find employment for young people. The Company also operates a café at Pen Y Pass in the Snowdonia National Park.

In January 2012, Mon Social Enterprises Ltd was incorporated. Agoriad Cyfyngedig owns 100% of the shares. The company was set up to run the existing Llys Llywelyn cafe operation as well as to undertake a new cafe venture located in Holyhead's Breakwater Country Park.

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2022

15 Taxation

Agoriad Cyfyngedig's charitable activities fall within the exemptions afforded by section 505 of the Income Corporation Taxes Act 1988. There is no Tax liability arising in the trading subsidiaries due to losses incurred in Dwr Cerist Cyf and Mon Social Enterprises Ltd and all profits generated in Agoriad Trading Cyf being donated to the charitable parent comapny, Agoriad Cyfyngedig.

16 Deferred Tax

A provision for deferred tax was included in respect of losses incurred in three of the subsidiary companies

Losses

Balance B/Fwd Agoriad Trading Balance C/Fwd	£ 101,494 (8,965)
	92,529

17 Analysis Of Net Assets Between Funds

Tangible fixed assets Stock Debtors Cash at bank and in hand Current liabilities Creditors due after more than 1 year	Restricted Funds £ 266,951 15,265 140,013 199,681 (175,311) (105,308) 341,291	Unrestricted Funds £ - - - - - - -	Total 2022 £ 266,951 15,265 140,013 199,681 (175,311) (105,308) 341,291	Total 2021 £ 288,486 21,536 127,924 134,103 (170,285) (117,016) 284,748

During the year, no travel expenses were paid to any trustees. (2021 £Nil)

18 Trustee Remuneration And Expenses

Report Of The Independent Auditors To The Members Of Agoriad Cyfyngedig.

Opinion

In our opinion, the financial statements:

give a true and fair view of the state of the Charity's affairs as at 31st March 2022 and of its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

We have nothing to report in this regard.

Report Of The Independent Auditors To The Members Of Agporiad Cyfyngedig

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the trustee's report (incorporating the strategic report and the directors' report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees' report (incorporating the strategic report and the director's report) have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us;
the financial statements are not in agreement with the accounting records and returns;
certain disclosures of trustee' remuneration specified by law are not made; or
we have not obtained all the information and explanations necessary for the purpose of our audit.

Responsibilities of the trustees

Our responsibilities for the audit of the financial statements

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The experience of the audit team was deemed to be sufficient to identify fraud or errors in this engagement.

B Hughes

Mr Brian Hughes (Senior Statutory Auditor) for and on behalf of A. Hughes-Jones, Dyson & Co. Statutory Auditors & Chartered Accountants Capel Moreia, South Penrallt, Caernarfon, Gwynedd, LL55 1NS

Date

22.12.2022