| Page | |||
|---|---|---|---|
| Chairman's | statement | ||
| Trustees report | 2-16 | ||
| Statement | oftrustees | responsibilities | 17 |
| Independent | auditor's | report | 18-21 |
| Statement | offinancial | activities | 22 |
| Balance sheet | 23-24 | ||
| Statement | ofcash flows | 25 | |
| Notes to the financial | statements | 26-44 |
| The | impact | ofthe pandemic | ofthe pandemic | ofthe pandemic | has not negatively | impacted on the |
organisation | organisation | and the ability to work | towards |
|---|---|---|---|---|---|---|---|---|---|---|
| and | meet | organisational | aims and aspirations. | To be noted, that this was |
a result of a significant | eifort on | ||||
| behalf of all staff, supported | by the Trustee Board | |||||||||
| Reference | and administrative | details | ||||||||
| Charity name | Early Years Wales 2018T/A | Early Years Wales | ||||||||
| Charity number | 1056381 | |||||||||
| Company | number | 3164233 | ||||||||
| Principal and registered | office | Coopers Yard | ||||||||
| Curran Road |
||||||||||
| Cardilf | ||||||||||
| CF10SNB | ||||||||||
| Trustees | Dr David Dallimore | |||||||||
| Lisa Owen | ||||||||||
| Jamie Powell | ||||||||||
| Dr Mirain Rhys | ||||||||||
| Mike Thorne (Chair) | ||||||||||
| Victoria Wdght - appointed | 22/4/21 | |||||||||
| Rejwan Ahmed | -resigned | 1/1/22 | ||||||||
| Dr Mark Grifliths | - resigned | 1/1/22 | ||||||||
| Laura Grimths - | resigned | 1/1/22 | ||||||||
| Secretary | David Goodger | |||||||||
| Auditors | Azets Audit Services | |||||||||
| Ty Derw | ||||||||||
| Lime Tree Court | ||||||||||
| Cardiff Gate Business Park | ||||||||||
| Cardiff | ||||||||||
| CF23 8AB | ||||||||||
| Bankers | Barclays Bank | |||||||||
| 51 Hope Street, | ||||||||||
| Wrexham | ||||||||||
| LL11 1BE | ||||||||||
| Investment | providers | CCLA | ||||||||
| Senator House | ||||||||||
| 85Queen Victoria Street | ||||||||||
| London | ||||||||||
| EC4V 4ET |
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||
| Notes | 2022 8 |
2022 6 |
2022 6 |
2021 6 |
2021f | 2021 6 |
|||
| Income and endowments | from: | ||||||||
| Donations and legacies | 300 | 9,964 | 10,264 | 20,634 | 20,634 | ||||
| Charitable activities |
8,431 | 1,116,671 | 1,125,102 | 37,730 | 1,155,473 | 1,193,203 | |||
| Investments | 15,932 | 15,932 | 17,581 | 17,581 | |||||
| Other income | 2,851 | 2,851 | |||||||
| Total income | 27,514 | 1,126,635 | 1,154,149 | 75,945 | 1,155,473 | 1,231,418 | |||
| Ezagtttlitttr~tt; | |||||||||
| Charitable activities |
126,460 | 1,053,958 | 1,180,418 | 1,109,267 | 1,109,267 | ||||
| Net gains/(losses) | on | ||||||||
| investments | 11 | 1,594 | 1,594 | 160,011 | 160,011 | ||||
| Net (outgoing)/ | |||||||||
| incoming resources |
|||||||||
| before transfers | (97,352) | 72,677 | (24,675) | 235,956 | 46,206 | 282,162 | |||
| Gross transfers | |||||||||
| between funds |
60,180 | (60,180) | 66,846 | (66,846) | |||||
| Net movement | in | funds | (37,172) | 12,497 | (24,675) | 302,802 | (20,640) | 282,162 | |
| Fund balances at 1 | |||||||||
| April 2021 | 1,421,275 | 44,787 | 1,466,062 | 1,118,473 | 65,427 | 1,183,900 | |||
| Fund balances | at | 31 | |||||||
| March 2022 | 1,384,103 | 57,284 | 1,441,387 | 1,421,275 | 44,787 | 1,466,062 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | 6 | R | |||||
| Fixed assets | |||||||
| Intangible | assets | 16 | 31,350 | 19,800 | |||
| Tangible assets | 17 | 3,299 | 2,361 | ||||
| Investments | 18 | 1,113,401 | 1,111,807 | ||||
| 1,148,050 | 1,133,968 | ||||||
| Current assets | |||||||
| Debtors | 20 | 48,304 | 19,312 | ||||
| Cash at bank and in | hand | 295,566 | 363,630 | ||||
| 343,870 | 382,942 | ||||||
| Creditors: | amounts | falling due within | |||||
| one year | 21 | (50,533) | (50,848) | ||||
| Net current | assets | 293,337 | 332,094 | ||||
| Total assets less current liabilities | 1,441,387 | 1,466,062 | |||||
| Income funds | |||||||
| Restricted | funds | 23 | 57,284 | 44,787 | |||
| Unrestricted | funds | ||||||
| Designated | funds | 24 | 238,040 | 219,522 | |||
| General unrestricted | funds | 1,146,063 | 1,201,753 | ||||
| 1,384,103 | 1,421,275 | ||||||
| 1,441,387 | 1,466,062 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | 6 | K | ||||||
| Cash flows from operating | activities | |||||||
| Cash (absorbed by)/generated |
from | 28 | ||||||
| operations | (64,676) | 174,340 | ||||||
| Investing | activities | |||||||
| Purchase | ofintangible assets |
(16,500) | ||||||
| Purchase | oftangible fixed assets | (2,820) | ||||||
| Purchase | of investments | (1,164,464) | (90,955) | |||||
| Proceeds | on disposal of investments | 1,164,464 | 75,241 | |||||
| Investment | income received | 15,932 | 17,581 | |||||
| Net cash | (used in)/generated | from | ||||||
| investing | activities | (3,388) | 1,867 | |||||
| Net cash | used in financing | activities | ||||||
| Net (decrease)/increase in |
cash and | cash | ||||||
| equivalents | (68,064) | 176,207 | ||||||
| Cash and | cash equivalents | at | beginning | ofyear | 363,630 | 187,423 | ||
| Cash and | cash equivalents | at end of | year | 295,566 | 363,630 |
| 2022f | 2021f | |||||
|---|---|---|---|---|---|---|
| Membership | 40 | 35,078 | ||||
| Grants | 1,116,671 | 1,155,473 | ||||
| Quality | assurance | 2,949 | 187 | |||
| Sale of | publications | and promotional | items | 5,442 | 2,465 | |
| 1,125,102 | 1,193,203 | |||||
| Analysis | by | fund | ||||
| Unrestricted | funds | 8,431 | 37,730 | |||
| Restricted funds | 1,116,671 | 1,155,473 | ||||
| 1,125,102 | 1,193,203 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| 0 | ||||||
| Welsh Government - CWLWM |
572,708 | 647,968 | ||||
| Welsh Government - DCELLS: Early |
Yrs | Co-Drdinator | 54,250 | 52,000 | ||
| Welsh Government -Welsh Language |
Department | 50,000 | 50,000 | |||
| Carmarthenshire County Council - Children's |
Services | 13,187 | 10,697 | |||
| Ceredigion County Council - Family Information |
Service | 4,472 | 4,500 | |||
| Conwy County Borough Council - Education | Services | 20,300 | ||||
| Denbighshire County Council - Flying |
Start | 8,093 | 8,093 | |||
| Flintshire County Council |
58,651 | 56,086 | ||||
| Isle ofAnglesey County Council |
8,750 | 10,840 | ||||
| Monmouthshire County Council |
6,000 | 6,000 | ||||
| Newport City Council - RSG |
208,000 | 92,500 | ||||
| Swansea City Council - Early Intervention |
Service | 12,527 | 12,527 | |||
| Welsh Active Early Years Project | 85,758 | 166,937 | ||||
| Moondance Foundation |
10,000 | 30,000 | ||||
| Mudidad Meithrin |
7,325 | |||||
| 1,112,696 | 1,148,148 |
| Unrestricted | Unrestricted |
|---|---|
| funds | funds |
| 2022f | 2021 f |
| 15,932 | 17,581 |
| Unrestricted | Total |
|---|---|
| funds | |
| 2022f | 2021f |
| 2,851 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| 6 | 6 | |||
| Staff costs | 679,727 | 677,578 | ||
| Depreciation | and impairment | 736 | 6,443 | |
| Computer, internet costs and telephone |
28,995 | 57,175 | ||
| Insurance | 158 | 9,097 | ||
| Other costs | 774 | 2,539 | ||
| Other staff costs | 92,393 | 32,689 | ||
| Events | 22,226 | 13,164 | ||
| Printing, post |
and stationery | 34,997 | 39,890 | |
| Professional | fees | 18,328 | 11,226 | |
| Publications, | training | and subscriptions | 36,315 | 50,230 |
| Quality assurance | 805 | 3,816 | ||
| Premises costs | 70,217 | 65,565 | ||
| Travel and subsistence | 10,943 | 1,488 | ||
| 996,614 | 970,900 | |||
| Grant funding | of activities (see note 10) | 100,167 | 73,651 | |
| Share ofsupport costs (see note 9) | 73,634 | 55,413 | ||
| Share ofgovernance | costs (see note 9) | 10,003 | 9,303 | |
| 1,180,418 | 1,109,267 | |||
| Analysis by |
fund | |||
| Unrestricted | funds | 126,460 | ||
| Restricted funds | 1,053,958 | 1,109,267 | ||
| 1,180,418 | 1,109,267 |
| 9 | Support costs | ||||||
|---|---|---|---|---|---|---|---|
| Support | Governance | 2022 | Support | Governance | 2021 | ||
| costs 8 |
costs 8 |
costs | costsf | f | |||
| Staff costs | 20,620 | 20,620 | 25,454 | 25,454 | |||
| Depreciation | 6,096 | 6,096 | 2,092 | 2,092 | |||
| Bank and other charges | 1,038 | 1,038 | 1,100 | 1,100 | |||
| ITand telephone | 9,405 | 9,405 | 9,102 | 9,102 | |||
| Premises costs | 1,195 | 1,195 | 58 | 58 | |||
| Insurance | 11,572 | 11,572 | |||||
| Professional fees | 3,049 | 3,049 | 2,998 | 2,998 | |||
| Publications, training |
|||||||
| and subscriptions | 662 | 662 | 477 | 477 | |||
| Travel and subsistence | 49 | 49 | 93 | 93 | |||
| Other staff costs | 3,797 | 3,797 | 3,224 | 3,224 | |||
| Printing, post and |
|||||||
| stationery | 16,151 | 16,151 | 10,815 | 10,815 | |||
| Audit fees | 9,330 | 9,330 | 9,240 | 9,240 | |||
| Meeting costs | 673 | 673 | 63 | 63 | |||
| 73,634 | 10,003 | 83,637 | 55,413 | 9,303 | 64,716 | ||
| Analysed between |
|||||||
| Charitable activities |
73,634 | 10,003 | 83,637 | 55,413 | 9,303 | 64,716 | |
| 10 | Grants payable | ||||||
| 2022 | 2021 | ||||||
| 6 | |||||||
| South East Wales | 48,221 | 39,843 | |||||
| Moondance Foundation |
10,000 | 30,000 | |||||
| COVID-19small grants | 3,808 | ||||||
| Early Years Wales small grants | 41,946 | ||||||
| 100,167 | 73,651 |
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 | 2021 | |||
| K | ||||
| Revaluation | of | investments | 1,594 | 160,011 |
The average |
monthly number ofemployees during t |
he year was: | |
|---|---|---|---|
| 2022 | 2021 | ||
| Number | Number | ||
| Functional | 19 | 20 | |
| Support | 10 | 11 | |
| 29 | 31 | ||
| Employment | costs | 2022 | 2021 |
| 6 | 6 | ||
| Wages and salaries | 627,233 | 631,178 | |
| Social security costs | 48,050 | 47,146 | |
| Other pension costs | 25,064 | 24,708 | |
| 700,347 | 703,032 |
| Intangible fi |
xed assets | |
|---|---|---|
| Webeite | ||
| Cost | ||
| At 1 April 2021 | 24,750 | |
| Additions | 16,500 | |
| At 31 March | 2022 | 41,250 |
| Amortisation | and impairment | |
| At 1 April 2021 | 4,950 | |
| Amortisation | charged for the year | 4,950 |
| At 31 March | 2022 | 9,900 |
| Carrying amount |
||
| At 31 March | 2022 | 31,350 |
| At 31 March | 2021 | 19,800 |
| 17 | Tangible fixed assets | Tangible fixed assets | |||||
|---|---|---|---|---|---|---|---|
| Office | Computer | Total | |||||
| equlpmeut | equipment | ||||||
| 6 | |||||||
| Cost | |||||||
| At 1 April 2021 | 80,590 | 18,954 | 99,544 | ||||
| Additions | 2,820 | 2,820 | |||||
| At 31 March | 2022 | 83,410 | 18,954 | 102,364 | |||
| Depreciation | and impairment | ||||||
| At 1April 2021 | 80,590 | 16,593 | 97,183 | ||||
| Depreciation | charged | in the year | 1,882 | 1,882 | |||
| At 31 March | 2022 | 80,590 | 18,475 | 99,065 | |||
| Carrying amount |
|||||||
| At 31 March | 2022 | 2,820 | 479 | 3,299 | |||
| At 31 March | 2021 | 2,361 | 2,361 | ||||
| 18 | Fixed asset | investments | |||||
| Listed | |||||||
| investments | |||||||
| 8 | |||||||
| Cost or valuation | |||||||
| At 1 April 2021 | 1,111,807 | ||||||
| Additions | 1,164,464 | ||||||
| Valuation changes | 1,594 | ||||||
| Disposals | (1,164,464) | ||||||
| At 31 March | 2022 | 1,113,401 | |||||
| Carrying amount |
|||||||
| At 31 March | 2022 | 1,113,401 | |||||
| At 31 March | 2021 | 1,111,807 | |||||
| 19 | Financial instruments |
2022 | 2021 | ||||
| 8 | 6 | ||||||
| Carrying amount offinancial assets |
|||||||
| Instruments | measured | at fair value through | profit or loss | 1,113,401 | 1,111,807 |
| Debtors | ||||||||
|---|---|---|---|---|---|---|---|---|
| Amounts falling |
due | within | one year: | 2022f | 2021f | |||
| Trade debtors | 25,109 | 4,836 | ||||||
| Prepayments and |
accrued income | 23,195 | 14,476 | |||||
| 48,304 | 19,312 | |||||||
| Creditors: amounts | falling | due within one year | ||||||
| Notes | 2022f | 2021f | ||||||
| Deferred income |
22 | 21,974 | 26,654 | |||||
| Trade creditors | 17,579 | 15,706 | ||||||
| Other creditors | 1,445 | 264 | ||||||
| Accruals and deferred | income | 9,535 | 8,224 | |||||
| 50,533 | 50,848 | |||||||
| Deferred income | ||||||||
| 2022f | 2021 f. |
|||||||
| Arising from government | grants | 21,504 | 26,504 | |||||
| Arising from membership | income | 470 | 150 | |||||
| 21,974 | 26,654 | |||||||
| Deferred income | is included | in the financial statements | as follows: | |||||
| 2022f | 2021f | |||||||
| Balance brought | forward | 26,654 | 25,788 | |||||
| Income received | 21,974 | 36,010 | ||||||
| Income released | (26,654) | (35,144) | ||||||
| Balance carried forward | 21,974 | 26,654 |
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| 2022 6 |
2021f | |||||
|---|---|---|---|---|---|---|
| Within one year | 36,835 | 40,080 | ||||
| Between two and five years | 760 | 40,840 | ||||
| 37,595 | 80,920 | |||||
| 28 | Cash generated from operations |
2022f | 2021 | |||
| (Deficit)/surpus for the year |
(24,675) | 282,162 | ||||
| Adjustments for: |
||||||
| Investment income recognised |
in statement | offinancial activities | (15,932) | (17,581) | ||
| Fair value gains and losses on | investments | (1,594) | (160,011) | |||
| Depreciation and impairment oftangible |
fixed assets | 6,832 | 8,535 | |||
| Movements in working capital: |
||||||
| (Increase)/decrease in debtors |
(28,992) | 79,727 | ||||
| Increase/(decrease) in creditors |
4,365 | (19,358) | ||||
| (Decrease)/increase in deferred |
income | (4,680) | 866 | |||
| Cash (abaorbed by)/generated |
from operations | (64,676) | 174,340 | |||
| 29 | Analysis ofchanges in net funds |