**CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION**
# **Registered Charity Number 1019184**
## **FOR THE YEAR ENDING 28[TH] FEBRUARY 2021**
Contents:
Declaration Legal and Administrative Information
## CONSOLIDATED ACCOUNTS
Receipts & Payments Account Summary Balance Sheet at Year End Bank Reconciliation Review of Financial Resources at 28[th] February 2021 Notes to Accounts: Discussion of Figures. Independent Examiners Report
## ANNUAL REPORT
Review of Progress and Achievements 2020/2021 Diary of Events at Pensychnant 2020/2021
APPENDIX: PENSYCHNANT WILDLIFE ART EXHIBITION & OUTSALES Receipts and Payment Account Summary Balance Sheet at Year End Bank Reconciliation Annual Report
**CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION FOR THE YEAR ENDING 28[TH] FEBRUARY 2021**
## **Declaration.**
The annual report and account set out herein for the financial year ending 28[th] February 2021 and the statement of assets and liabilities at that date are believed to be an accurate and fair representation of the transactions of the Pensychnant Foundation and are as approved by the Trustees. These accounts and report are in exact concordance with the accounts submitted to the Charity Commission online December 2021
Signed by the Trustees:
Timothy Stott
Mark Sheridan
Ian Jones
Marc Hughes
Barbara Winrow
## **Accounting Method**
These accounts are prepared on the "receipts and payments" basis in accordance with the Charities Act (1993) and as prescribed in "Accounting and Reporting by Charities, Statement of Recommended Practice (SORP 2000) (Charity Commissioners 2000). Noting that SORP 2005 is inapplicable to the Receipts and Payments Accounts prepared by charities which fall below the statutory audit threshold (currently £250,000 turnover), these accounts and report are based on Pro-forma Accounts and Reports packs supplied by Charity Commission (Dec. 2005).
It is not always feasible to perfectly sub-divide all receipts and payments into discreet categories. (in particular, wardening may be attributable to conservation projects or other objects of the Foundation or to administration or to fund raising etc.). Hence each receipt or payment has been allocated to the category where the majority of activity occurred.
## **Preparation of Accounts**
These accounts and annual report were prepared on behalf of the Trustees by Julian Thompson (warden)
Signed by the warden:
Julian Thompson
## **Independent Examination of Accounts**
These accounts have been independently assessed by Kay Winstone (retired business manager) in accordance with section 43 of the Charities Acts (1993). Her report is appended.
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/2021
**ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/2021**
## **LEGAL & ADMINISTRATIVE INFORMATION**
Main Charity Name: The Pensychnant Foundation
Address: Pensychnant Nature Conservation Centre, Sychnant Pass, Conwy, LL32 8BJ 'Phone: (01492) 592595 email: julian.pensychnant@btinternet.com web-site www.pensychnant.co.uk
The Pensychnant Foundation is known in Welsh as "Y Sefydliad Pensychnant" at Y Canolfan Warchod Natur Pensychnant, Bwlch Sychnant, Conwy.
Date of Establishment: December 1989
Registered Charity Number: 1019184 (since 26[th] March 1993)
Governing Document: Trust Deed (dated & stamped 1[st] March 1993)
Charitable Objects: For the benefit of wildlife and the public appreciation and understanding of natural history and nature conservation:
I To establish, protect, maintain, and manage appropriate parts of the Pensychnant Estate (and any other land) as a nature reserve for the conservation and management of the wild vegetation and wild creatures living naturally therein.
II To record, study and research places, objects, species and ecosystems of scientific interest or of natural beauty on the Pensychnant Estate and elsewhere. III To establish, protect, maintain, and manage Pensychnant (and other premises) as a nature conservation centre and in it to organise meetings, lectures, field walks, displays and exhibitions in order to advance the education of the public in the importance of nature conservation and in nature conservation principles and practices.
_(Full Trust Deed available from above address)_
Trustees: Timothy Gregory Stott (since 1989) Mark Sheridan (since April 2014) Ian Keith Jones (since March 2019) Marc Berw Hughes (since February 2021) Barbara Winrow (since February 2021) New Trustees are appointed by unanimous resolution of the existing Trustees. _(Trust Deed)._ There is no reason to suspect that any Trustee is ineligible to act as a trustee.
Custodians: Several investments are been held in the joint names of two or three Trustees.
Contracted Warden: Julian P. Thompson & Associates
Other ‘Staff’: several committed volunteers. Main Agents: National Westminster Bank, Conwy. Hargreaves Lansdown (stockbroker) Independent Examiner: Kay Winstone (retired business manager)
- Responsibilities of Trustees: The Trustees have full responsibility to ensure that all actions taken by the charity are in strict accordance with the Objects and Provisions of the Trust Deed. They are required by the Trust Deed and by the Charities Act (1993) to safeguard the assets of the charity, and apply the charity’s income solely and with absolute fairness for the purposes set out in the Trust Deed; and to keep proper and consistent accounting records which disclose with reasonable accuracy at any time the financial position of the charity _(Responsibilities of Trustees. CC3)._
Organisation: ‘The Trustees are empowered to appoint… any persons… for the purpose of … executing the trusts of the Trust Deed… and may delegate .. any of the powers of the Trust Deed provided all decisions taken on delegated powers shall be reported fully and regularly to the Trustees’ . _(Trust Deed)._
A warden is contracted to manage the day to day operations of the Foundation under the direction of the Trustees. There were 6[3 ] Trustees’ Meetings in 2020/21, and Trustees and staff liaised frequently by email and informal meetings.
- Only the Trustees are empowered to enter into any contractural or legal agreements, and only they are allowed to operate any bank accounts or arrange custody of moneys, or investments. Cheques must be signed by any two of the Trustees.
- Financial Reserves Policy: ‘....the reserve fund should be sufficient to keep Pensychnant solvent in the event of about 2 months without income.’ (Currently estimated @ about £5000) _(Draft Financial Review & Financial Policy; January 2001)_ .
- In addition to this: a Special Repair Fund ( _sensu_ CC19) is invested for restoration and capital improvements to Pensychnant.(currently estimated@ >£100k) and an expendable endowment is held in an investment portfolio for the purposes of generating revenue.
- Investment Powers: ‘The Trustees are empowered to invest all moneys not immediately required for furthering the objects of the Foundation in such a manner and on such securities as may be deemed expedient... provided that moneys subject to the jurisdiction of the Charity Commissioners shall only be invested in such securities as may for the time being be prescribed by law.’ _(Trust Deed)_
- Investment Policy: The primary purpose of investments is to generate unrestricted expendable income in preference to accrual of capital except where specific capital projects are identified. Investments are chosen with regard to both potential returns and security and the investment portfolio is diversified with this aim. _(Minutes)_
- Risk Management: Financial and operational risks are minimised by adherence to office and governance procedures. The charity holds public liability and employers liability insurance.
- Grant-making Powers: The Trustees are empowered to support ….other groups conserving wildlife …. by providing facilities, equipment, personnel, advice or any form of assistance by grants or donations for the conservation management, recording, and study of sites of nature conservation interest. _(Trust Deed)_
Related Parties: None of the Trustees have materially benefited from their position as Trustees, nor received any remuneration at all. Timothy Stott is both Landlord of Pensychnant Estate and Trustee.
- Julian Thompson and Anne Mynott (wardens) live at Pensychnant, for which a full market rent is paid to the Pensychnant Foundation.
- Serious Incidents: There is no evidence or suspicion of serious incidents during the year (eg. Fraud, suspicious donations or expenditure, links to proscribed organisations, abuse of vulnerable beneficiaries, criminal or regulatory investigations). There is considered to be no requirement for CRB checks of any trustee, staff or volunteer. The charity never works unsupervised with children or vulnerable adults.
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/2021
## **INCOME AND EXPENDITURE ACCOUNT SUMMARY FOR THE YEAR ENDING 28[TH] FEBRUARY 2021**
Totals for the year ending 29[th] February 2020 in[superscript]
## **INCOME**
## **GROSS INCOME**
|**GROSS INCOME**|||||
|---|---|---|---|---|
||**£**UNRESTRICTED|**£**RESTRICTED*|**£**SUB-TOTAL|**£2019/20**|
|**Voluntary Contributions**|||||
|"Supporters" Subscriptions|3,374|||4,304|
|Donations|10,246.98|||2,093|
|Tax reclaimed on Gift Aid & Covenants|6,102.94|||0|
|Legacy|0|||0|
|Grants|40,000|||0|
|Sale of Donated Goods|0|||0|
||------|-------|£59,723.92|£6,397|
|**Charitable Trading**(in pursuit of Pensychnant's Objects)|||||
|Conservation Lectures and Events|86.30|||1,029|
|Lectures and other events. for other Organisations|
63.50|||469|
|Conservation Centre: Room Lettings|88.50|||1,331|
|Sale of logs|65|||n/a|
||-----|-------|£303.30|£2,829|
|**Fund-Raising Activities**|||||
|Fund-Raising Events|498.50|||698|
|Wildlife Art Exhibition and Outsales|288.30|||8,375|
||-----|-------|£786.80|£9,073|
|**Income from Assets**|||||
|Rent from flat|5,130|||3,510|
|Room Hire for Non-conservation Events|135|||1,275|
|Renewable Heat Incentive|3,423.15|||5,898|
|Interest/dividends from Reserve & Special Repair|Fund 909.01|||860|
|Interest/ dividends from Mrs Stott’s Endowment|2,188.70|||2,616|
||-------|------|£11,785.86|£14,160|
|**Miscellaneous**|||||
|Shared Estate Costs|3,774.42|||0|
||-----|------|£3,774.42|£0|
|**GROSS INCOME**|**£76,374.30**|**0**|**£76,374.30**|**£32,461**|
*detail of restricted Funds is given below
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/2021
0 **0**
## **RECEIPTS NOT COUNTING AS GROSS INCOME**
## **Money Drawn from Investments (so not counting as Income)**
Drawings 0
**------**
**0**
## **Unrealised Investment Income (not counting as Gross Income)**
|Increase [decrease] in share values:|||||
|---|---|---|---|---|
|Reserve & Special Repair Fund:|HL Legal & General|859||[150]|
||COIF|[267]||320|
|||----.--|£592|£170|
|Mrs. Stott’s Endowment|HL Invesco Perpetual Corp.|664||1345|
||HL M+G Strategic Cp. Bond|621||1541|
||HL Invesco Perpetual Monthly|1726||515|
||HL Royal London Sterling|[594]||336|
||Hargreaves Lansdown Cash|[69]||[129]|
|||----.--|£2,348|£3,608|
|**Total Investment Income**|||**£2,940**|£3,778|
|**TOTAL MONETARY INCOME**|||**£79,314.30**|**£36,239**|
## **Donations in Kind**
Photocopying & printing (JP Thompson) Travel expenses. (JP Thompson)
Second hand goods to equip and furnish Pensychnant or for resale (Many) Bird seed from JP Thompson
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/2021
## **EXPENDITURE**
|**EXPENDITURE**|||||
|---|---|---|---|---|
||**£**UNRESTRICTED|**£**RESTRICTED|**£**SUB-TOTAL|**£**20/21|
|**Direct charitable expenditure**|||||
|**Conservation of habitats**|0|||19|
|**Conservation Events & room hire**|48.14|||335|
|**Interpretative Materials**|0|||0|
|**Natural History Recording**|0|||4|
||-----|------|£48.14|£360|
|**Support Costs**|||||
|**Wardens**|27,536|||15,489|
||----||£27,536|£15,489|
|**Pensychnant Estate**|||||
|Pensychnant Centre :Mainenance & Development|
8,987.89|||6,054|
|Nature Reserve|0|||412|
|Access|0|||1,411|
||----|-----|£8,987.89|£7,879|
|**Pensychnant Farm**|||||
|General Maintenance|0|||0|
||---.---|---.--|0|0|
|**Administration**|||||
|Office & Stationery|67.45|||65|
|Telephone & Internet|978.36|||484|
||-----||£1045.81|£550|
|**Overheads**|||||
|Electric|1605.09|||1,560|
|Wood pellets|1695.33|||5,258|
|Boiler service|0|||680|
|Water Test|0|||175|
|Business Rates|0|||0|
|Fire Alarm Test|0|||0|
|Insurance|747.85|||721|
||----|-----|£4,048.27|£8,397|
||||______.__||
||||£41,617.97|£32,645|
|**Other expenditure**|||||
|**Promotion, Publicity, Membership**|||||
|Supporters mailings /posters for events|235.26|||387|
|Advertising|0|||141|
|Website|0|||95|
||----|-----|£235.26|£624|
|**Fund-raising & Sales**|||||
|Trading: Set up & stock for exhibition & outsales|207.80|||1,807|
|Tea Room: Set up|11.85|527.99||n/a|
|Fund-raising events|84.67|||293|
||-----|-----|£832.31|2,101|
|**Income from Assets**|||||
|Room lettings for non-conservation events|0|||9|
|Flat|60.29|||0|
||------|-----|£60.29|9|
|**TOTAL EXPENDITURE**|**£42,265.98**|**£527.99**
|**£42,793.97**|**£35,410**|
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/2021
## **OUT-GOINGS NOT REGARDED AS EXPENDITURE**
## **Purchase of Investments**
None 0 0 ----£0
0
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/21
## **BALANCE SHEET AS AT 28[TH] FEBRUARY 2021**
Balance as at 29[th] February 2020 in[superscript]
||£UNRESTRICTED|£RESTRICTED|£TOTAL|£2020/21|
|---|---|---|---|---|
|**OPERATIONAL BALANCE**|||||
|Current account (Nat West)|54,032.32|13,997.01||34,529|
|Trading account (Nat West)|7,173.64|||7,093|
|Total cash in bank|----||£75,202.97|£41,622|
## **DETAIL OF RESTRICTED CASH FUNDS**
£150 was donated by Chris Packham in 2018/19, as part of his UK ‘Nature Reserves are Not Enough’ Bioblitz. It was agreed that this will be spent on wildlife recording paraphernalia. This is carried over to 2021/22
£10,000 plus £2,500 Gift Aid was donated by June Thompson in 2017/18. It has been agreed that this will be spent on interior decoration and projects which take the charity forward, to be used at the discretion of the warden, Julian Thompson. In 2020/21, £527.99 was allocated to development of the tea room; spent on Portmeirion, cafetieres, hostess trolley, and sisal carpet. £11,972.01 is carried over to 2021/22.
Barbara Winrow generously donated £1,500, plus £375 Gift Aid, to be spent on an espresso coffee machine for Pensychnant’s proposed new tearoom. This is carried over to 2021/22.
The £10,000 donated by Richard Brunstrom from his mother’s estate came without restrictions.
Non-domestric Rates Covid Grants were without restrictions.
## **RESERVE & SPECIAL REPAIR FUND**
Investment values are based on latest statements / Financial Times (valuation dates shown in parentheses)
|COIF Fixed Interest Fund (Feb’21Feb’20)|7,385||7,652|
|---|---|---|---|
|HL Legal & General Dynamic Fund (Jan ‘21Feb 20))|17,348||16,489|
|Total|--------.----|£24,733|£24,141|
|**MRS STOTT’S LEGACY (EXPENDABLE ENDOWMENT)**||||
|HL Invesco Perpetual Corp. Bond (Jan ‘21Feb 20)|29,167||28,503|
|HL M &G Strategic Corp. Bond X (Jan ‘21Feb 20)|32,771||32,150|
|HL Invesco Perpetual Monthly Inc. Plus Gross (Jan ‘21Feb 20) 8,503|||6,777|
|HL Royal London Sterling (Jan ‘21Feb 20)|9,923||10,517|
|Hargreaves Lansdown cash accounts (Jan ‘21Jan ‘20)|1,696||1,765|
|Total|------.--|£82,061|£79,712|
|**Total Monetary Assets**||**£181,996.97**|**£145,475**|
Balance sheet as at 29[th] February 2020 continued..................
£ £ £
## **CURRENT TANGIBLE ASSETS**
Exhibition stock at approximate cost price (incl. SoR) 2,000 2000 £2000 ----£2,000
Exhibition Stock has not been evaluated accurately. Stock levels have not changed markedly since 2014/15 but in 2015/16, its replacement value was reassessed to a more realistic sum. Really the exhibition stock is worthless until it is sold! Most is held ‘cash-on-sale’
## **FIXED CAPITAL ASSETS**
Depreciation on fixed assets is estimated at 25% p.a. in order to write off each asset over its useful life.
None £0 0
Individual items valued at less than £400 are not itemised.
Assets with neither cost nor market value information are listed below. To capitalise these items is considered perfunctory.
Vivian Hewitt taxidermy collection Furniture and equipment in the Pensychnant Conservation Centre. Betty Mills exhibition stock (donated October 2001) Laptop and digital projectors (now of small value)
No assets of material worth have been disposed of during the year.
## **DEBTORS AT 29[TH] FEBRUARY 2019**
|None||||
|---|---|---|---|
||-----|£0|£0|
|**LIABILITIES AT 29TH FEBRUARY 2019**||||
|None|0|£0|£0|
|**TOTAL (VALUED) ASSETS**||**£183,996.97**|**£147,375**|
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2019/2020
**ANALYSIS AND RECONCILIATION OF FUNDS**
## **CASH ASSETS**
INCOME - EXPENDITURE = £76,374.30 – £42,793.97 = **£33,580.33 SURPLUS**[£2,949 DEFICIT ]
BANK BALANCE Feb ’21 - BANK BALANCE Feb ‘20 = £75,202.97 - £41,622.64 = **£33,580.33 SURPLUS** ✓
## **ALL MONETARY ASSETS**
INCOME - EXPENDITURE = £79,314.30 – 42,793.97 = £36,52 **1** .33 SURPLUS[£828 SURPLUS ]
BALANCE - BALANCE = £181,996.97 **-** £145,475.64 = £36,521.33 SURPLUS[£828 SURPLUS] Feb '21 Feb '20 ✓
## **TOTAL (VALUED) ASSETS**
(TOTAL ASSETS - LIABILITIES) - (TOTAL ASSETS - LIABILITIES)[Feb '21][Feb '21][Feb '20][ Feb ‘20] (£183,996.97 – 0) - (£147,375.64 – 0) = £36,621.33 SURPLUS[ £621 SURPLUS ]
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/21
## **NOTES TO THE ACCOUNTS: DISCUSSION OF FIGURES**
## **Income**
## **Voluntary Contributions: Supporters**
Supporters’ contributions fell by £1000 for 2020/21 (£3,374[£4,304] ). This is because, because Pensychnant was closed for Coronavirus, no subscription-reminders were sent in 2020/21. Bankers Orders continued to be received much as usual but there were very few cash renewals and no new subscriptions. It is to be hoped that support picks up when Coronavirus restrictions are lifted.
## **Voluntary Contributions: Donations**
A few Supporters made donations (£55) whilst Pensychnant was closed by Coronavirus. £100 was given to ‘adopt’ one of the ewes by a guest in Tim’s Cottage.
£50 was donated by Penmaenmawr Quarry Pages community magazine.
## **Tax Reclaimed on Gift Aid**
£6,102[0 ] Gift Aid and GASDS were claimed in 2020/21, covering more than one year.
## **Grants**
Four Non-domestic Rates Covid Grants totalling £40,000 were received from Conwy County Borough Council because Pensychnant was obliged to be shut during the Coronavirus pandemic. Ironically, this is much more than the income foregone!
## **Charitable Trading : Conservation Events and Room Hire**
Almost every one of Pensychnant’s usual programme of events was cancelled due to Coronavirus. Income from the few events (Moth Group on the lawn) was only £86[£1029] ; One lecture to Llandudno Horticultural Society, and a Walk for Health, netted £63[£469] ; and room hire to Cambrian Ornithological Society and Friends of the Earth on the lawn totalled £88[£1331] . Overall, about £2,700 was lost due to cancelled events and bookings. £65 was received for sale of logs. This could become a useful source of income if developed.
## **Fund -Raising Events**
The two Open Garden days for National Garden Scheme, and Jonathan Richard’s guitar concert[£180] were cancelled due to coronavirus.
The quiz, organised by Rose Schofield raised £498[£518]
## **Wildlife Exhibitions and Sales**
The Wildlife Art Exhibition and Outsales are reported on separately.
The Wildlife Art Exhibition is usually Pensychnant's biggest event in terms of sustained effort, number of visitors, and income. Trading is vital to Pensychnant. In 2019/20 trading netted £6,567 profit; 25.8% of the charity’s unreserved income. In 2020/21 the few sales totalled a meagre £288!
## **Income from Assets : Room Hire for Non-conservation Activities**
Before Pensychnant was Locked-down by coronavirus there was one First Aid Course, and later there was a private party on the lawn, totalling £135[£1275]
## **Income from Assets : Rents**
The flat returns a steady and secure income of £4,680pa.
## **Renewable Heat Incentive**
Income from the Renewable Heat Incentive declined (£3,423[£5,898] ). However this isn’t really a loss, as fuel costs will have declined equally.
## **Income from Assets**
The money held in COIF and HL Legal & General Dynamic Fund is regarded as a financial reserve ( _sensu_ CC62: SORP2000) and Special Repair Fund ( _sensu_ CC19). It is allocated for renovation and other special projects which really take Pensychnant forward, and it is saved with the hope of multiplying its value as match funding for grant schemes. It is not unreasonable to expect repairs and renovation costs in excess of £500,000, so this total reserve is woefully insufficient.
All monies arising from Mrs. Stott’s bequest are regarded as an Expendable Endowment, to raise revenue income for the charity. (This is not an Permanent or inalienable Endowment Fund _sensu_ CC64, because Trustees do not require authority from either the Trust Deed or Charity Commissioners before spending it).
Overall, investmend dividends fell slightly (£3,097[£3,476] ). Whilst COIF and Royal London declined in value, overall the investment portfolio rose by 2.75% (£2,940[£3,778] )
## **Expenditure**
## **Conservation of Habitats**
That so little was apparently spent on habitat conservation on is not indicative of the amount of work done clearing undergrowth and maintaining boundaries. In 2020/21 approximately 1,235m of fencing was erected to allow nature-friendly farming, 180m of drystone wall was rebuilt, and 225m of new hedgerow planted. The considerable costs for these projects were borne by Tim Stott as part of his Glastir agri-environment contract.
## **Conservation Events**
With so few events, expenditure was little (£48[£335] )
## **Natural History Recording**
Though it is one of the Pensychnant Foundation’s Objects, natural history recording again took a low priority. Recording should be increased.
## **Warden**
During the Coronavirus pandemic, the warden’s remuneration was set at a fixed £1,721 per month, paid by bankers’ order. Expenses are billed separately.
## **Maintenance & Capital Improvements to Pensychnant Conservation Centre**
Routine maintenance costs are a trifle compared to what is needed (£73[£501] ), including items such as fire alarm batteries, and minor repairs. The small expenditure on general maintenance gives a poor reflection of the total effort and cost with labour. Even so, by doing all maintenance ‘in-house’ saves a fortune in contractors costs.
£7,548 was paid to GMEC to move Pensychnant’s water main where it crosses beneath the Sychnant Pass Road. Tim Stott paid half this bill as his Cottage shares the water. This job was imposed by Conwy County Borough Council who objected to Pensychnant’s water pipe being within a council drainage conduit. Infact the pipe had been put there in 1990 at the suggestion of the Council’s head of Highways, to avoid the necessity to dig the road, but now the Council insisted it be moved, and couldn’t be persuaded to even contribute to this considerable cost.
Whilst Pensychnant was closed by coronavirus, the opportunity was taken to repair the Billiard’s Room skylights, which have leaked for 50 years. The job was bigger than anticipated because four of the rafters were rotted, necessitating rebuilding of a third of the roof. The new waterproof, double glazed skylight and reroofing cost £1,320 so far, but considerable expenses are not yet invoiced and there will be further costs in 2021 for the other skylight, insulating the ceilings, raising the floor, and redecorating.
The best project in 2020 was the new ‘stained-glass’window in Pensychnant’s stairwell, made and donated by local glass-artist Julian Pitt. As part of this project a new double glazed window was also installed, and Julian Pitt
paid the full cost of this (£740). The value of the stained-glass window itself can only be guessed but would be £5000+. _Thank you Julian Pitt!_ The coloured glass window has transformed Pensychnant’s hall. It is lovely.
The house and estate are in desperate need of maintenance.
## **Access**
Despite the maintenance in 2019, by the end of 2020 the lower drive was badly potholed again and in desperate need of maintenance.
## **Fferm Pensychnant**
All monetary costs relating to the farm have been met by Tim Stott; and all income.
## **Administration Costs**
Telephone and internet (£978[£698] ) seems to be an alarming part of administration costs.
## **Overheads**
Costs for Electricity remain fairly similar to last year @ £1,605[£1560]
The cost of wood pellets (£1,695[£5,258] ) fell because fewer deliveries fell within the year. This cost is entirely offset by the RHI.
As a local charity, Pensychnant applies for and gets 100% discretionary relief on its Business Rates.
## **Promotion, Publicity, Membership**
Expenditure on publicity (£235[£624] ) is mostly the cost of printing posters and programmes, and postage. A ‘Supporters’ Elevenses (£40) very successfully encouraged a lot of support and offers of volunteers for the exhibition and new tea room, but lack of contact during the coronavirus lockdown has quashed this enthusiasm. Publicity remains one of Pensychnant’s biggest failings. Pensychnant did not renew membership of North Wales Tourism[£141] in 2020.
## **Tea Room**
Pensychnant still hopes to create a tea room in the Aga kitchen, to raise money. In high hopes £527 was spent on Portmeirion crockery, cafetieres, etc. and a new sisal carpet. Unfortunately, because of Coronavirus, the Tea Room never started.
A lot more needs to be spent on this venture before the tea room is smart, and the kitchen is suitable.
## **Independent Examiners Report to the Trustees of the Pensychnant Foundation . Accounts for the Year Ending 28[th] February 2021**
I have examined the accounts and annual report for the above period which have been prepared on the basis of the accounting policy set out on page 1 of the Receipts and Payment Account Summary.
## **Respective Responsibilities of Trustees and Examiner**
The charity’s trustees are responsible for the preparation of accounts. They consider that the audit requirement under section 43(2) of the Charities Act 1993 does not apply for this year, and that an independent examination is needed. It is my responsibility to examine the accounts without performing an audit, and to report to the trustees.
## **Basis of Examiners Statement.**
This report is in respect of an examination carried out under section 43 of the Charities Act 1993 and in accordance with the general directions given by the Charity Commissioners under section 43(7)(b). An examination includes a review of the accounting records kept by the charity trustees and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and making such enquiries as are necessary concerning any such matters. The procedures undertaken do not constitute an audit.
## **Examiners Statement.**
Based on my examination no matter has come to my attention which gives me reasonable cause to believe that in any material respect accounting records have not been kept in accordance with section 41 of the Charities Act 1993, or that the accounts presented do not accord with those records or comply with the accounting requirements of the Charities Act 1993. No matter has come to my attention in connection with my examination to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts.
Kay Winstone Retired Business Manager December 2021
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/2021
## **REVIEW OF PROGRESS & ACHIEVEMENTS 2020 / 2021**
**The Pensychnant Foundation works with many local naturalists and wildlife organisations, to foster the public's appreciation and understanding of wildlife and wildlife conservation, and to record and safeguard the wildlife and natural beauty of Wales** .
This was destined to be a very difficult year from the outset. Anne Mynott had left Pensychnant in December 2019 after 24 years as resident housekeeper and general worker. Anne was an effective worker and organiser, doing all the cleaning, gardening, baking and much more. She was integral to the functioning of Pensychnant and is greatly missed. There were high hopes that many of Anne’s jobs could be done by volunteers, and there was a lot of enthusiasm and offers of help from Supporters at gatherings in January and March 2020, but really Anne is not so easily replaced. It is hoped that a lot will be done by volunteers but this needs to be coordinated by someone. Indeed plans for a tea room in the Aga kitchen, mean that there will be a lot more work, not less.
Work was beginning on restarting the summer exhibitions and new tea room, when the coronavirus pandemic struck. Pensychnant cancelled its meetings from mid-March 2020, even before government lockdown prohibited community activities, and Pensychnant remained closed throughout 2020 and was still closed in April 2021. There were no lectures; no walks, no work parties or drystone walling training days; no room hire for COS or other community groups; no wildlife art exhibition; no open garden days for National Garden Scheme; no book fair; no Conwy street fairs; no Ffair Nadolig,…… Just a few outdoor activities were facilitated when coronavirus restrictions allowed. The legal requirement for 2m social distancing effectively made most events inviable, even at times when coronavirus regulations allowed limited meet-ups.
Being closed for a whole year, and more, has had a deleterious effect on Pensychnant. A conservative estimate suggests that Pensychnant lost out on £11,000 - £12,000 in revenue from supporters, events, room hire, and, trading and fund-raising. Maybe more importantly, Pensychnant lost contact with the community and its Supporters. Electronic means of disseminating news and hosting events were not embraced, and this was perhaps a failing. The enthusiasm which was so encouraging at the start of the year dissipated. It is to be hoped that support will rekindle when Pensychnant re-opens.
Frankly, being closed was demoralising, but Pensychnant is a beautiful place in which to be locked-down, and there is plenty to do just to maintain the status quo.
Being closed, the opportunity was taken to refurbish Pensychnant, starting with the Billiards Room roof and skylights which have leaked for 50 years or more. A bespoke double glazed window with leaded pelmet was fitted. However, the job became bigger than expected when it was discovered that four of the rafters were rotted, necessitating rebuilding one third of the roof. Progress has been disappointingly very slow, and at the end of the year the other pitch of the roof is not even started. (Hopefully, it will not be so decayed). It is also planned to insulate the ceilings with wood-fibre board, raise the hearth and floor 4”, and redecorate. Hopes that Pensychnant would be superbly refurbished for a grand re-opening after coronavirus seem scuppered for the time being.
Re-opening will however be cause to celebrate the new ‘stained-glass’ window on the main stairwell, made and donated by local glass-artist Julian Pitt. Bearing the text, “ _Heddiw, gwyn ein byd. Mae yfory yn ein dwylo_ ” (Today we are blessed/fortunate. Tomorrow is in our hands), with coloured leaves from Pensychnant’s tree species, the window conveys a timeless conservation message. The window has transformed Pensychnant’s hall. It is lovely. This is a very generous gift from Julian Pitt.
A lot of other maintenance work will pass unseen. In particular the roadworks to move Pensychnant’s water main beneath the Sychnant Pass Road which was an unforeseen cost, unreasonably imposed by Conwy Council. A lot was done on the nature-friendly farm, fencing, walling, and hedgerow-planting. This is beginning to show some success, with Adders-tongue Fern and Early Purple Orchid, amidst swathes of Yellow Rattle in the meadows planted in 2019.
During such a bad year, when so many people suffered worldwide, it seems ironic that Pensychnant benefitted financially from £40,000 of Covid Non-domestic Rates Grants from Conwy Council during the lockdowns. This is far more than Pensychnant lost during the pandemic. The charity also received a unexpected, generous, unrestricted gift of £10,000 from Richard Brunstrom. The charity is richer than at anytime in its history!
This money will be used to restart Pensychnant when Lock-down restrictions are eased. It is recognised that Pensychnant cannot continue as it was; some of Pensychnant’s activities were less successful that would be hoped anyway. The charity needs to develop more revenue through its Wildlife Art Exhibition, tea room, and its more populous events. It is also recognised that Coronavirus and lockdown have changed society, with much more being done online, and some people wary of socialising. Pensychnant will have to re-think its repertoire of activities for the future. Tomorrow is in our hands.
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2020/2021
# **DIARY OF EVENTS AT PENSYCHNANT YEAR ENDING 28[TH] FEBRUARY 2021**
**Pensychnant Foundation Events** Events put on for or with other groups Groups hiring Pensychnant Committees attended on behalf of Pensychnant (elsewhere)
Mon 2 March **Moth Group** Mon/Tue 2/3 March REC First Aid Training
- Fri 6 March Fran’s walking group
- Mon 9 March St David’s College John Muir Award Work Party (tree planting)
- Wed 11 March **Tea Room Supporters’ Meeting**
- Sat 21 March Work Party with Snowdonia Society (hedge planting)
- Wed 22 July Friends of the Earth on lawn
- Sun 2 August Karin Brun’s private party on lawn
- Mon 3 August **Moth Group on lawn**
- Wed 19 August FoE ‘Cycling UK’ by Richard Brunstrom on lawn Wed 9 September Friends of the Earth on lawn Sat 12 December Snowdonia Society work Party fencing Home Field
Total: 12[160] events plus Wildlife Art Exhibition for 0[130] days.
CONSOLIDATED ACCOUNTS OF THE PENSYCHNANT FOUNDATION 2020/2021
## **PENSYCHNANT WILDLIFE EXHIBITION & OUTSALES**
## **RECEIPTS & PAYMENTS ACCOUNT SUMMARY**
## **FOR THE YEAR ENDING 28[TH] FEBRUARY 2021**
Totals for the year ending 29[th] February 2020 in[superscript]
All these figures relating to Trading are included within the main accounts, but considered more fully here.
**----- Start of picture text -----**
||||
|---|---|---|
|£|£|
|INCOME|
|Wildlife Art Exhibitions|288.30|3,159|
|Special Retail Opportunities (Conwy Fairs, Xmas, NGS, Ffair Lyfrau etc.)|0|5,055|
|Incidental Retail Sales at away lectures (U3A’s, WI’s etc.)|0|115|
|Internet-sales (Retail)|0|0|
|Wholesale|0|0|
|Miscellaneous (logs)|n/a|45|
|TOTAL INCOME|£288.30|[£8,375]|
|EXPENDITURE|
|Stock|0|0|
|Adopted Cash on Sale Stock|5|490|
|Framing|0|0|
|Support Costs|202.0|1,316|
|TOTAL EXPENDITURE|£207.80|[£1,807]|
**----- End of picture text -----**
Adopted CoS stock is stock which was only due to be paid for after it was sold. ie. Pensychnant had no capital costs
## **PROFITS TRANSFERRED TO PENSYCHNANT FOUNDATION CHARITY ACCOUNT**
Transferred to Pensychnant Foundation current account £0 25,000
## **DONATIONS IN KIND**
Bric-a-brac.
## **UNQUANTIFIED SUPPORTING EXPENSES** (Included in Main Accounts)
Heating & lighting Wardening
CONSOLIDATED ACCOUNTS OF THE PENSYCHNANT FOUNDATION 2019/2020
## **PENSYCHNANT WILDLIFE ART EXHIBITION & OUTSALES**
## **BALANCE SHEET AS AT 29[TH] FEBRUARY 2020**
|Balance as at 28thFebruary 2019 insuperscript|||||
|---|---|---|---|---|
||**£**||**£**|£|
|**STATEMENT OF ACCOUNTS**|||||
|Trading Account Balance on 28thFebruary 2021|£7,173.64|||7,093|
||-----|£7,173.64||£7,093|
|**CURRENT ASSETS**|||||
|Approx value of closing stock at cost price *|2,000|||2,000|
|Exhibition Stock held Sale or Return by several outlets|0|||0|
|||£2,000||£2,000|
|**FIXED ASSETS**|||||
|None|||0|0|
|**DEBTORS**|||||
|None|||||
||-----||£0|£0|
|**TOTAL ASSETS**||**£9,173.64**||**£9,093**|
|**LIABILITIES AT YEAR END**|||||
|Other exhibition expenses owing||0||0|
|**TOTAL LIABILITIES**||**£0**||**£0**|
* There has not been a recent full stock-take. For years stock had been written down using a historical figure of £8,464. In February 2018 it was estimated at £2,000. Stock bought within the year is mostly small scale and is mostly sold within the year.
## **ANALYSIS AND RECONCILIATION OF FUNDS**
## **MONETARY ASSETS**
SALES - EXPENDITURE = £288.30- £202.80 = £80.50 PROFIT[£6,567 PROFIT ]
BALANCE – BALANCE + TRANSFERS = £7,173.64 - £7,093.14 + £0 = £80.50 PROFIT ✓ Feb '21 Feb '20
CONSOLIDATED ACCOUNTS OF THE PENSYCHNANT FOUNDATION 2019/2020
## **PENSYCHNANT WILDLIFE ART EXHIBITION & OUTSALES**
## **ANNUAL REPORT FOR THE YEAR ENDING 28[TH] FEBRUARY 2021**
by Julian P. Thompson (warden)
Totals for the year ending 29[th] February 2021 in[superscript]
The Coronavirus pandemic forced the closure of all non-essential retail for most of 2020/21. Pensychnant’s summer exhibition never opened. There were no other trading events; no open garden days for NGS, no book fair and no Ffair Nadolig. A few ad hoc sales added up to £288. A Sum Up credit card machine cost £202, which more-or-less negated any profit at all. 20120/21 was a wipe-out!
In recent years, trading has generated a profit of £6,00 - £8,000 for the charity; 20% - 25% of the charity’s unrestricted income. To lose this was a serious blow to the charity.