CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION
Registered Charity Number 1019184
FOR THE YEAR ENDING 28[TH] FEBRUARY 2023
Contents:
Declaration Legal and Administrative Information
CONSOLIDATED ACCOUNTS
Receipts & Payments Account Summary Balance Sheet at Year End Bank Reconciliation Review of Financial Resources on 28[th] February 2023 Independent Examiners Report
ANNUAL REPORT
Review of Progress and Achievements 2022/2023
APPENDIX: PENSYCHNANT WILDLIFE ART EXHIBITION & OUTSALES Receipts and Payment Account Summary Balance Sheet at Year End Bank Reconciliation
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION FOR THE YEAR ENDING 28[TH] FEBRUARY 2023
Declaration.
The annual report and account set out herein for the financial year ending 28[th] February 2023 and the statement of assets and liabilities at that date is 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 2023
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 fundraising etc.). Hence each receipt or payment has been allocated to the category where the majority of activity occurred. The so-called ‘Trading Account’ includes many transactions which are not trading per se .
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 Act (1993). Her report is appended.
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2021/2022
ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2021/2022
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 Wardens: Julian P. Thompson & Karen Roberts
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 Foundation’s day-to-day operations under the direction of the Trustees. There were 4[6 ] Trustees’ Meetings in 2022/23, and Trustees and staff liaised frequently by email and informal meetings.
-
Only the Trustees are empowered to enter into any contractual 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 purpose 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 (warden) lives 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 2022/2023
INCOME AND EXPENDITURE ACCOUNT SUMMARY FOR THE YEAR ENDING 28[TH] FEBRUARY 2023
Totals for the year ending 28[th] February 2022 in[superscript]
INCOME
GROSS INCOME
| GROSS INCOME | ||||
|---|---|---|---|---|
| £UNRESTRICTED | £RESTRICTED* | £SUB-TOTAL | £2021/22 | |
| Voluntary Contributions | ||||
| "Supporters" Subscriptions | 4,629 | 3,919 | ||
| Donations | 2155.88 | 2,109 | ||
| Tax reclaimed on Gift Aid & Covenants | 0 | 1,496 | ||
| Legacy | 0 | 0 | ||
| Grants (Carneddau ProjectCovid) | 5,000 | 5,000 | ||
| Sale of Donated Goods | 0 | 0 | ||
| ------ | ------- | £11,784.88 | £12,524 | |
| Charitable Trading(in pursuit of Pensychnant's Objects) | ||||
| Conservation Lectures and Events | 1080.04 | 199 | ||
| Lectures and other events. for other Organisations | 45 |
230 | ||
| Conservation Centre: Room Lettings | 1063.25 | 549 | ||
| Sale of logs | 80 | 0 | ||
| ----- | ------- | £2,268.29 | £978 | |
| Fund-Raising Activities & Sales | ||||
| Fund-Raising (Quiz, raffle) | 924.90 | 501 | ||
| Fundraising Events (Jonathan Richards, Yoga, ….) | 1,978.83 |
915 | ||
| Tea & cakes | 6,826.56 | 2,340 | ||
| Wildlife Art Exhibition | 2,913.40 | 3,214 | ||
| Special Trading Days | 4,768.74 | 590.90 | 650 | |
| ----- | ------- |
£18,003.33 | £7,620 | |
| Income from Assets | ||||
| Rent from flat | 4,560 | 6,310 | ||
| Room Hire for Non-conservation Events (REC, crafts...)1,774 | 737 | |||
| Hire of log store, bonfires | 220 | 210 | ||
| Renewable Heat Incentive | 3,952.72 | 3,562 | ||
| Interest/dividends from Reserve & Special Repair Fund 927.09 | 827 | |||
| Interest/ dividends from Mrs Stott’s Endowment | 2,222.83 | 1,936 | ||
| ------- | ------ | £13,656.64 | £13,584 | |
| Miscellaneous | ||||
| Shared Estate Costs | 0 | 0 | ||
| Lamb! | 305 | |||
| ----- | ------ | £305 | £0 | |
| GROSS INCOME | £40,427.24 | 5,590.90 | £46,018.14 | £34,709 |
*detail of restricted Funds is given below
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2022/2023
RECEIPTS NOT COUNTING AS GROSS INCOME
Money Drawn from Investments (so not counting as Income)
Drawings 0 0 0
-----0
Unrealised Investment Income (not counting as Gross Income)
| Increase [decrease] in share values: | ||||
|---|---|---|---|---|
| Reserve & Special Repair Fund: | HL Legal & General | [989] | [504] | |
| COIF | [541.33] | [456] | ||
| ----.-- | [£1530.33] | [£960] | ||
| Mrs. Stott’s Endowment | HL Invesco Perpetual Corp. | [3,179] | [1,497] | |
| HL M+G Strategic Cp. Bond | [3633] | [1,555] | ||
| HL Invesco Perpetual Monthly [515] | 389 | |||
| HL Royal London Sterling | [803] | 7 | ||
| Hargreaves Lansdown Cash | 16 | [62] | ||
| ----.-- | [£8114] | [£2,718] | ||
| Total Investment Income | [£9,644.33] | [3,678] | ||
| TOTAL MONETARY INCOME | £36,373.81 | £31,030 |
Donations in Kind
Photocopying & printing (JP Thompson) Travel expenses. (JP Thompson) Second-hand goods to equip and furnish Pensychnant or for resale (Many) Stock for exhibition (Many) Bird seed from JP Thompson
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2022/2023
EXPENDITURE
| EXPENDITURE | ||||
|---|---|---|---|---|
| £UNRESTRICTED | £RESTRICTED | £SUB-TOTAL | £21/22 | |
| Direct charitable expenditure | ||||
| Conservation of habitats | 0 | 856 | ||
| Conservation Events & room hire | 135.13 | 0 | ||
| Interpretative Materials | 0 | 0 | ||
| Natural History Recording | 0 | 0 | ||
| ----- | ------ | £135.13 | £856 | |
| Support Costs | ||||
| Wardens | 29,942 | 23,287 | ||
| ---- | £29,942 | £23,287 | ||
| Pensychnant Estate | ||||
| Pensychnant Centre: Maintenance & Development | 1,446.48 |
3,401 | ||
| Nature Reserve | 30 | 0 | ||
| Access | 636 | 633 | ||
| ---- | ----- | £2,112.48 | £4,035 | |
| Administration | ||||
| Office & Stationery | 126.31 | 114 | ||
| Telephone & Internet | 708.22 | 1,621 | ||
| ----- | £834.53 | £1,736 | ||
| Overheads | ||||
| Electric | 1,698.23 | 1,789 | ||
| Wood pellets | 6,353.61 | 3,796 | ||
| Boiler service | 0 | 0 | ||
| Water Test | 0 | 0 | ||
| Business Rates | 0 | 0 | ||
| Fire Alarm Test | 0 | 0 | ||
| Insurance | 762.21 | 747 | ||
| ---- | ----- | £8,814.05 | £6333 | |
| __. | ||||
| £41,838.19 | £36,249 | |||
| Other expenditure | ||||
| Promotion, Publicity, Membership | ||||
| Supporters mailings /posters for events | 1,022.99 | 200 | ||
| Advertising | 0 | 0 | ||
| Website | 0 | 0 | ||
| ---- | ----- | £1,022.99 | £200 | |
| Fund-raising & Sales | ||||
| Trading: Stock for exhibition & outsales | 816.88 | 479 | ||
| Stock for Tea & Cake sales | 2,016.80 | 1179 | ||
| Exhibition support costs | 151.11 | 995 | ||
| Workshop leaders fees | 156 | |||
| Tea Room: Set up | 0 | 2,031 | ||
| Fund-raising events | 741.95 | 17 | ||
| SumUp fees (receipts received net of fees) | n/a | 37 | ||
| ----- | ----- |
£3,882.74 | £4,739 | |
| Income from Assets | ||||
| Room lettings for non-conservation events | 0 | 0 | ||
| Flat | 0 | 0 | ||
| Lamb (paid to TGStott Farm) | 305 | |||
| ------ | ----- | £305 | £0 | |
| TOTAL EXPENDITURE | £47,048.92 | £47,048.92 | £41,189 |
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2022/2023
OUT-GOINGS NOT REGARDED AS EXPENDITURE
Purchase of Investments
None 0 0 ----£0
0
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2022/23
BALANCE SHEET AS AT 28[TH] FEBRUARY 2023
Balance as at 28[th] February 2022 in[superscript]
| £UNRESTRICTED | £RESTRICTED | £TOTAL | £2022/23 | |
|---|---|---|---|---|
| OPERATIONAL BALANCE | ||||
| Current account (Nat West) | 26,817.54 | 12,122.01 | 56,868 | |
| Trading account (Nat West) | 28,752.64 | 11,854 | ||
| Total cash in bank | ---- | £67,692.19 | £68,722 |
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 2023/24
£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. £11,972.01 was carried over to 2021/22. £239.76 was spent on Portmeirion and garden furniture for the tea room. £11972.01 is carried over to 2022/23
£590.90 entrance money (plus online bookings) was collected for National Garden Scheme, and paid to them during the year.
£5,000 was received from Partneriaeth Tir Carneddau (SNPA).
RESERVE & SPECIAL REPAIR FUND
Investment values are based on latest statements / Financial Times (valuation dates shown in parentheses)
| COIF Fixed Interest Fund (Feb’23Feb’22) | 6,388.14 | 6,929 | |
|---|---|---|---|
| HL Legal & General Dynamic Fund (Jan ‘23Jan22)) | 15,855 | 16,844 | |
| Total | --------.---- | £22,243.14 | £23,773 |
| MRS STOTT’S LEGACY (EXPENDABLE ENDOWMENT) | |||
| HL Invesco Perpetual Corp. Bond (Jan ‘23Jan22) | 24,491 | 27,670 | |
| HL M &G Strategic Corp. Bond X (Jan ‘23Jan22) | 27,583 | 31,216 | |
| HL Invesco Perpetual Monthly Inc. Plus Gross (Jan ‘23Jan22) 8,377 | 8,892 | ||
| HL Royal London Sterling (Jan ‘23Jan22) | 9,127 | 9,930 | |
| Hargreaves Lansdown cash accounts (Jan ‘23Jan ‘22) | 1,650 | 1,634 | |
| Total | ------.-- | £71,228 | £79,342 |
| Total Monetary Assets | £161,163.33 | £171,838 |
Balance sheet as of 28[th] February 2022 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 2022
None
£0 ----£0 LIABILITIES AT 29[TH] FEBRUARY 2022 None 0 £0 £0 TOTAL (VALUED) ASSETS £163,163.33 £183,996
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2022/23
ANALYSIS AND RECONCILIATION OF FUNDS
CASH ASSETS
INCOME - EXPENDITURE = £46,018.14 – £47,048.92 = £1,030.78 DEFICIT[£6,480 DEFICIT ]
BANK BALANCE Feb ’23 - BANK BALANCE Feb ‘22 = £67,692.19 - £68,722.97 = £1,030.78 DEFICIT ✓
ALL MONETARY ASSETS
INCOME - EXPENDITURE = £36,373.81 – £47,048.92 = £10,675.11 DEFICIT[£10,158 DEFICIT ]
BALANCE - BALANCE = £161,163.33 - £171,838.44 - £181,996.76 = £10,675.11 DEFICIT ✓ Feb '23 Feb '22
TOTAL (VALUED) ASSETS
(TOTAL ASSETS - LIABILITIES) - (TOTAL ASSETS - LIABILITIES)[Feb '22][Feb '22][Feb '21][ Feb ‘21]
(£173,838.64 – 0) - (£183,996.76 – 0) = £10,158.12 DEFICIT[ £36,521 SURPLUS ]
Independent Examiners Report to the Trustees of the Pensychnant Foundation . Accounts for the Year Ending 28[th] February 2023
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 2023
CONSOLIDATED ACCOUNTS & ANNUAL REPORT OF THE PENSYCHNANT FOUNDATION 2022/2023
REVIEW OF PROGRESS & ACHIEVEMENTS 2022 / 2023
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 .
Emerging, phoenix-like from the Coronavirus pandemic, Pensychnant has evolved. Thanks especially to Karen’s networking and events management, Pensychnant is now much more lively, with more events and more visitors, and thankfully more income. The appeal of many events depends on Pensychnant’s unique ambience, but crucially on tea & cake. Some of the events, such as Insectaganza, the Bioblitz, National Moth Night,…. fulfill the conservation objects of the charity; a celebration of the 250[th] anniversary of the construction of Sychnant Pass in collaboration with Penmaenmawr Museum was a particuarly good occasion; but many of the events are craft workshops, yoga, and mindfulness sessions. Some have been organised purely to raise funds for Pensychnant, the instructors generously donating their time and expertise, and for other events, the instructors have hired Pensychnant’s facilities to mutual benefit. Combining all these with tea and FairTrade cakes in the sunshine on the lawn has proved particuarly successful. Events for Pensychnant raised £2,390. Venue hire, usually with added tea & cake, raised £943. This is a significant increase over any previous year. Running events at weekends, when Pensychnant would anyway be open to visitors, uses staff time to best advantage.
In addition to these advertised community events, Pensychnant is becoming recognised as an appealing destination for tea & cake in the summertime. Casual visitors enjoying tea & cake on the lawn spent £6,778; much more than any previous year. Hopefully some of Pensychnant’s conservation ethics rub off on some of the vistors too.
Increased visitor numbers do not seem to have driven great sales day-to-day indoors in the Wildlife Art Exhibition. This is a missed opportunity. However, the big trading events of the year are successful. Open Gardens for the National Garden Scheme were less successful than in 2021, due bad weather, but the Ffair Nadolig had more stallholders than ever before (in a marquee in the cold) and raised £2,892; significantly more than ever before. In high hopes, a new Spring Fair was organised in April, raising £1,616, and based on this success, a Summer Fair in August raised £1,674.
Overall the year’s trading raised £20,038 which is more than double any recent previous year. This is of course moderated by Karen’s wages and other expenses, especially cake (£2,016), but even so it bodes well for the future. Thanks Karen.
It was disappointing, that after what had seemed like a busy and successful year, Pensychnant ran at a £1,030 deficit, even with a £5,000 Carneddau Project Grant from Snowdonia National Park Authority. Following on from a bigger deficit in 2021-22, this is bad. In fact, trading gains outweigh the new expenditure on Karen’s meagre wages (£9290), but all costs are rising post-covid. In particular the cost of wood pellets increased from £220 tonne-1 to £600 tonne-1 because of the War in Ukraine (most of the world’s wood pellets originate in Russia). Investment losses [£9,644][[£3678]] ) and ongoing investment uncertainty make this worse.
Nevertheless, it is clear that Pensychnant is developing, and become more commercially savvy, without losing its community spirit and charitable ethics. With Karen here, there is renewed determination to make a success of Pensychnant. There can be no going back!
CONSOLIDATED ACCOUNTS OF THE PENSYCHNANT FOUNDATION 2022/2023
PENSYCHNANT WILDLIFE EXHIBITION & OUTSALES
RECEIPTS & PAYMENTS ACCOUNT SUMMARY
FOR THE YEAR ENDING 28[TH] FEBRUARY 2023
Totals for the year ending 28[th] February 2022 in[superscript]
All these figures relating to Trading are included within the main accounts, but considered more fully here.
| £ | £ | ||
|---|---|---|---|
| INCOME | |||
| Wildlife Art Exhibitions | 3,976.38 | 15 | |
| Special Retail Opportunities(Conwy Fairs, Xmas, NGS, etc.) | 5,950.54 | 4581 | |
| Tea & Cakes Refreshments | 6,778.56 | 2,340 | |
| Workshops & Events (with T&C) | 2,390 | 755 | |
| Venue Hire (with T&C) | 943 | ||
| Incidental Retail Sales at away lectures(U3A’s, WI’s etc.) | 0 | 0 | |
| Internet-sales (Retail) | 0 | 0 | |
| Wholesale | 0 | 0 | |
| Miscellaneous (logs) | 0 | 0 | |
| TOTAL INCOME | £20,038.48 | £7,661 | |
| EXPENDITURE | |||
| Exhibition Stock | 64.51 | 269 | |
| Tea & cake | 2,016.80 | 1118 | |
| Adopted Cash on Sale Stock | 752.37 | 0 | |
| Framing | 0 | 210 | |
| Support Costs | 151.11 | 1235 | |
| Workshop leaders fees | 156 | ||
| SumUp & Just Giving fees(£103.81 & £12.63. Receipts above received net) | 0 | 37 | |
| TOTAL EXPENDITURE | £3,140.79 | £2,870 |
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 0
DONATIONS IN KIND
Auntie Armorel’s knitting Margaret’s knitting Brian’s bird boxes Bee badges given by Ysgol San Sior Remainder of Peter Grace’s books Plants Bric-a-brac, second hand books.
UNQUANTIFIED SUPPORTING EXPENSES (Included in Main Accounts)
Heating & lighting Wardening
CONSOLIDATED ACCOUNTS OF THE PENSYCHNANT FOUNDATION 2022/2023
PENSYCHNANT WILDLIFE ART EXHIBITION & OUTSALES
BALANCE SHEET AS OF 28[TH] FEBRUARY 2023
| Balance as of 28thFebruary 2022 insuperscript | ||||
|---|---|---|---|---|
| £ | £ | £ | ||
| STATEMENT OF ACCOUNTS | ||||
| Trading Account Balance on 28thFebruary 2023 | £28,752.64 | 11,854 | ||
| ----- | £28,752.64 | £11,854 | ||
| CURRENT ASSETS | ||||
| Approx value of closing stock at cost price * | 2,000 | 2,000 | ||
| £2,000 | £2,000 | |||
| FIXED ASSETS | ||||
| None | 0 | 0 | ||
| DEBTORS | ||||
| None | ||||
| ----- | £0 | £0 | ||
| TOTAL ASSETS | £30,752.64 | £13,854 | ||
| LIABILITIES AT YEAR END | ||||
| Other exhibition expenses owing | 0 | 0 | ||
| TOTAL LIABILITIES | £0 | £0 |
- There has not been a recent full stock-take. In February 2018 it was estimated at £2,000, or less. 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 = £20,038.48- £3,140.79 = £16,897.69 PROFIT[£4,791 PROFIT ]
BALANCE – BALANCE + TRANSFERS = £28,752.64 - £11,854.95 + 0 = £16,897.69 PROFIT ✓ Feb '23 Feb '22
PENSYCHNANT WILDLIFE EXHIBITION & OUTSALES
NOTES TO THE ACCOUNTS : BREAKDOWN OF FIGURES
FOR THE YEAR ENDING 28[TH] FEBRUARY 2022
Totals for the year ending 28[th] February 2021 in[superscript] . Values shown gross of SumUp and Just Giving fees.
GOODS SOLD RETAIL
£
| GOODS SOLD RETAIL | GOODS SOLD RETAIL | £ | ||
|---|---|---|---|---|
| Entrance (free) + | (590.90 paid to NGS) | (£650) | ||
| Tea & Cakes Refreshments | 6778.56 | 2,340 | ||
| Workshops & Events (with T&C) + | 2390 | 755 | ||
| Venue Hire (with T&C) + | 943 | |||
| Philip Snow Cards© Pensychnant | 40 | 61 | ||
| Betty Mills Cards© Pensychnant | 5 | 2 | ||
| Mary Thomas cards | 57.70 | 92 | ||
| Emma & Steve Stansfield Cards | 58.50 | 16 | ||
| OWL cards | * | 163 | 85 | |
| Barbara Winrow cards & notebooks | 302.53 | 189 | ||
| Liz Bolloten & Lnda JonesCards | 29 | |||
| Paul Kay cards | * | 21.60 | 16 | |
| Paula Salmons cards | * | 6 | ||
| Rita Alker cards | * | 28.50 | 3 | |
| Betty Mills Books | * | 29 | 15 | |
| Peter Grace Nature Books | 208 | 53 | ||
| Second Hand Nature Books | * | 48 | 12 | |
| Historical Trails | * | 70 | 77 | |
| Twiggy’s Craft books | * | 4 | 33 | |
| Other Books (BTO atlas / Ray Sandiford, Garry’s Poems) | 0 | 8 | ||
| Plants | * | 729.61 | 448 | |
| Barbara Winrow (trays, aprons, chopping boards..) | 907.10 | 420 | ||
| Craiglea Crafts & Auntie Jenny | * | 139.50 | 36 | |
| Margaret’s knitted Birds | * | 121 | ||
| Brian’s Bird boxes | * | 155 | ||
| Ysgol San Sior bee badges & bombs * | 73.50 | 70 | ||
| Bric-a-Brac & Second Hand Books * | 892.28 | 254 | ||
| Bev’s pottery | * | 20 | 18 | |
| Cakes, Jam, Veg., bay leaves | * | 4 | 3 | |
| Peacock feathers | * | >49.18 | 0 | |
| Fleeces | * | 74 | ||
| Morfa Seaglass | 30 | |||
| Logs & Swedish logs | * | 90 | ||
| Battle Green (at Open Garden) * |
n/a | 68 | ||
| Prints (mounted) | 416 | 25 | ||
| Prints (framed) | 290 | 375 | ||
| Originals | 775 | 315 | ||
| OWL | * | 92 | 47 | |
| Commission Sales (Nadolig & Ffair Lyfrau ) | + | 508.38 | 305 | |
| Embroiderers’ Guild & Niffler Jewellery | + | 182.50 | ||
| Face-painting | + | 56.80 | ||
| Grace’s Poetry | + | 26.45 | ||
| Raffles (Spring & Christmas) | + | 916.21 | 138 | |
| Truffles * | 254 | |||
| Quiz | + | 6 | 1 | |
| Unknown / forgotten | 340.62 | 132 | ||
| Donations (eligible for GASDS or GA) o | 1,062.98 - | 563 | ||
| TOTAL | £20,021.40 | 7,661 |
-
indicates sales of goods donated to Pensychnant (Total income = profit). Sales of donated goods are not regarded as ‘trading’ sensu Inland Revenue Guidance CS2.
-
indicates ‘fund-raising’ sensu Inland Revenue Guidance; also not regarded as ‘trading’ sensu Inland Revenue Guidance CS2. O indicates donations; not regarded as trading and eligible for Gift Aid/ GASDS
SALES DONATED GOODS & FUND-RAISING & DONATIONS = £2,804.17 + £5,620.24 + £1,062.98= £9,487.39
| SPECIAL DAYS | £ | £ | £ |
|---|---|---|---|
| Conwy Seed Fair | 290.10 | n/a | |
| National Garden Scheme 1 & 2 | 1,621.11 | 2,031 | |
| Supporters Open Garden | n/a | 356 | |
| Spring Fair | 1,616.11 | n/a | |
| Summer Fair | 1,674.16 | n/a | |
| Conwy Honey Fair | 379.03 | n/a | |
| Ffair Nadolig | 2,892.16 | 1,205 | |
| Other small retail opportunities (lectures to other groups) | 0 | 0 | |
| Web Sales | 0 | 0 | |
| TOTAL | ----- | £8,472.67 | £4,581 |
TRADING AS A PROPORTION OF CHARITY INCOME
Under Charity Commission guidelines, Pensychnant is not compelled to set up a trading company provided that trading turnover does not exceed 25% of the charity's incoming resources (or exceed £50,000).
| Exhibition & Outsales Turnover = | £20,038 | |
|---|---|---|
| LESS: monies received from donated goods and fund-raising | ||
| (not considered to be trading) | £9487.39 | |
| HENCE: Trading Turnover | £10,551 | |
| Pensychnant Foundation’s total Income (see consolidated accounts) |
£46,018 |
Current trading turnover (£10,551) equals 22.9%[12.6%] of the Foundation's total (£46,018). Even so, all trading activities are accounted for separately for clarity, and establishment of a separate trading company remains a consideration for the future.