| Trustees | Mr C D Hatcher |
|---|---|
| Mr P A Lee OBE | |
| Professor LJMcAllister | |
| MrT Goodson | |
| MrM C Curson | |
| MissKM Davies | |
| MrT HHartley | |
| MrC R Whitley | |
| MrD H James | |
| Mr LJames | |
| Ms GPowell | |
| Mn M Williams |
|
| MrW L Williams | |
| MrKJ O’Connor(appointed 26August2021) | |
| Key Management | Miss C Spanton |
| Mr D Adams | |
| Mm L Hennessy | |
| MrC Darlington | |
| MrR Williams | |
| Mrs E Wills | |
| Charity number | 1057856 |
| Company number | 03202751 |
| Registered office | Dragon Parc |
| National Football Development Centre | |
| Newport International Sports Village | |
| Newport | |
| United Kingdom | |
| NP19 4RA | |
| IndependentAuditor | PricewaterhouseCoopers LLP |
| CharteredAccountants and Statutory Auditors | |
| One Kingsway | |
| Cardiff | |
| Cf10 3PW | |
| Bankers | HSBC Bankplc |
| Harry Weston Road | |
| Binley | |
| Coventry | |
| CV3 2SH | |
| ProfessionalAdvice | Geldards LLP |
| Dumfries House | |
| Dumfries Place | |
| Cardiff | |
| CF1O 3ZF |
| Page | |
|---|---|
| Trustees’ Report | 4-9 |
| Independent auditors’ report | 10-11 |
| Statementoffinancial activities (income and expenditure) | 12 |
| Balance Sheet | 13 |
| Statementofcash flows | 14 |
| Notesto the financial statements | 15-25 |
| Unrestricted | Restricted | Year | Ended | Year | Ended | ||
|---|---|---|---|---|---|---|---|
| Funds | Funds | 31 March | 31 March | ||||
| 2021 | 2020 | ||||||
| Note | £ | £ | £ | £ | |||
| Income trom: | |||||||
| Donations and Legacies | 3 | 1,747,947 | 1,227,614 | 2.975,561 | 2,701,706 | ||
| Charitable activities | |||||||
| Coaching, Education & Training | 783,117 | - | 783,117 | 1,165,595 | |||
| Other trading activities | 4 | 224,727 | - | 224,727 | 254,01 I | ||
| Interest receivable | 9.298 | - | 9,298 | 14,025 | |||
| Total income | 2,765,089 | 1,227,614 | 3,992,703 | 4,135,337 | |||
| Expenditure on: | |||||||
| Raising Funds | D | 41,850 | - | 41,850 | 26,938 | ||
| Charitable activities | |||||||
| Coaching, Education & Training | 6 | 999,163 | 412,762 | 1,411,925 | 1,931,044 | ||
| Grassroots Player Access & Inclusion | 6 | 369,090 | 462,374 | 831,464 | 892,795 | ||
| Player Development | 6 | 495,357 | 224,778 | 720,135 | 1,085,773 | ||
| Total charitable expenditure | 1,863,610 | 1,099,914 | 2,963,524 | 3,909,612 | |||
| Total resources expended | 1,905,460 | 1,099,914 | 3,005,374 | 3,936,550 | |||
| Net income for the year | 859,629 | 127,700 | 987,329 | 198,787 | |||
| Fund Balances brought forward | 1,270,998 | 124,665 | 1,395,663 | 1,196,876 | |||
| Fund Balances carried forward | 2.130.627 | 252365 | 2.382.992 | 1.395.663 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Cash flows from operating activities | |||||
| Cash generated from operations | 23 | 1,076,554 | 498,311 | ||
| Investing activities | |||||
| Purchaseoftangible fixed assets | (19,963) | (22,532) | |||
| Purchaseofinvestments | (353,9$1) | ||||
| Saleofinvestments | 757,125 | ||||
| Interest received | 2,732 | 14,025 | |||
| Net cash (used in)Igenerated from | (17,231) | 394,637 | |||
| investing activities | |||||
| Net increase in cash and cash | 1,059,323 | 892,948 | |||
| equivalents | |||||
| Cash and cash equivalents atbeginningof | 1,974,214 | 1,081,266 | |||
| theyear | |||||
| Cash and cashequivalentsat the end of | 3,033,537 | 1,974,214 | |||
| theyear | |||||
| Relating to: | |||||
| Bank balance | 2,775,909 | 1,717,061 | |||
| Short term deposits | 257,628 | 257,153 |
| Unrestricted | Restricted | Yearended 31 | Year ended 31 | |
|---|---|---|---|---|
| funds | funds | March2021 | March2020 | |
| £ | £ | £ | £ | |
| Donations and gifts | 91,390 | 2,684 | 94,074 | 79,535 |
| Grants received | 1,656,557 | 1,224,930 | 2,881,487 | 2,622.171 |
| 1,747,947 | 1,227,614 | 2,975,561 | 2,701,706 | |
| For the year ended 31 March 2020 | 1,515,557 | 1,186,149 | ||
| Grants received: | ||||
| SWCore Funding | - | 1,224,930 | 1,224,930 | 1,107,030 |
| FAW Grants | 1,000,000 | - | 1,000,000 | 1,025,000 |
| FA Premier League | 150,000 | - | 150,000 | 150,000 |
| UEFA Hat-trick funding | 256,962 | - | 256,962 | 227,802 |
| Furlough grant income | 241,214 | - | 241,214 | - |
| Minorgrants | 8,381 | - | 8,381 | 112,339 |
| 1,656,557 | 1,224,930 | 2,881,487 | 2,622,171 |
| Unrestricted funds | Restricted | Yearended 31 | Yearended 31 | |||
|---|---|---|---|---|---|---|
| funds | March2021 | March2020 | ||||
| £ | £ | £ | £ | |||
| Other income | 8,348 | - | 8,348 | 19,663 | ||
| Letting and licensing arrangements | 51,545 | - | 51,545 | 47,706 | ||
| Sponsorshipincome | 164,832 | - | 164,832 | 186,642 | ||
| 224,727 | - | 224,727 | 254,011 | |||
| For | theyearended 31 March 2020 | 254,011 | - | 254,011 | 287,933 | |
| . | Raising funds | |||||
| Yearended 31 | Yearended 31 | |||||
| March 2021 | March 2020 | |||||
| £ | £ | |||||
| Fundraising and publicity: | ||||||
| Staffcosts | 41.850 | 26.938 |
| . Charitable activities |
|||||
|---|---|---|---|---|---|
| Coaching, | Grassroots | Player | Year ended | Year ended | |
| Education & | Player Access | Development | 31 March | 31 March | |
| Training | & Inclusion | 2021 | 2020 | ||
| £ | £ | £ | £ | £ | |
| StaffCosts | 621,160 | 292,372 | 374,564 | 1,288,096 | 1,286,784 |
| Depreciation and impairment | 5,426 | 5,426 | 4,651 | 15,502 | 13,118 |
| Direct programme costs | 380,508 | 355,753 | 84,149 | 820,410 | 1,503,841 |
| Staffexpenses | 5,955 | 479 | 3,594 | 10,028 | 81,222 |
| Premises | 46,163 | 11.540 | 38,469 | 96.173 | 103,196 |
| Travelling costs | (2,847) | - | 1,775 | (1,072) | 103,011 |
| Legal and professional | 2,444 | - | - | 2,444 | 2,366 |
| 1,058,809 | 665,570 | 507,202 | 2,231,581 | 3,093.538 | |
| Grant funding ofactivities | |||||
| Share ofsupport costs (note 7) | 348.374 | 163,663 | 210.073 | 722,110 | 735,440 |
| Share ofgovernance costs (note | 24,923 | 11,731 | 15,029 | 51,682 | 80,634 |
| 7) | |||||
| 1,432,106 | 840,964 | 732,304 | 3,005,374 | 3,909,612 |
| Support costs | Governance | Yearended | Yearended | Basis of | |
|---|---|---|---|---|---|
| costs | 31 March | 31 March | allocation | ||
| 2021 | 2020 | ||||
| £ | £ | £ | £ | £ | |
| StaffCosts | 349,355 | - | 349,355 | 317,531 | Per capita |
| Premises | 224,403 | - | 224,403 | 224,221 | Per capita |
| Office Costs | 76,738 | - | 76,738 | 82,060 | Per capita |
| Travel and accommodation | 1,350 | - | 1,350 | 9,203 | Per capita |
| Meeting costs | 696 | - | 696 | 15,777 | Per capita |
| Training | 5,910 | - | 5,910 | 11,947 | Per capita |
| Advertising and promotion | 55,908 | - | 55,908 | 47,158 | Per capita |
| Other costs | 7,750 | - | 7,750 | 27,543 | Per capita |
| Trustees costs | 399 | 399 | 11,256 | Governance | |
| Audit fees | 8,904 | 8,904 | 6,790 | Governance | |
| Legal and professional | 42,379 | 42,379 | 62,588 | Governance | |
| 722,110 | 51,682 | 773,792 | 816,074 |
| Year ended 31 | Year ended | 31 | |
|---|---|---|---|
| March2021 | March2020 | ||
| £ | £ | ||
| Net movement in funds is stated aftercharging: | |||
| Fees payable to company’s auditors for the audit ofthe company’s financial | 8.500 | 6.790 | |
| statements | |||
| Depreciation ofowned tangible Fixed assets | 15,502 | 13,119 |
| 2021 | 2020 |
|---|---|
| Number | Number |
| 42 | 44 |
| Employment costs: | ||
|---|---|---|
| Yearended 31 | Yearended 31 | |
| March 2021 | March 2020 | |
| £ | £ | |
| Wages and salaries | 1,305,108 | 1,344,449 |
| Social security costs | 131,695 | 135,385 |
| Other pension costs | 123,728 | 122,969 |
| 1,560,531 | 1,602,803 |
| The numberofemployeeswhoseannual remuneration was£60,000 ormore were: | ||
|---|---|---|
| 2021 | 2020 | |
| Number | Number | |
| £60,001 - £70,000 |
2 | 3 |
| £70,001-fXO,000 | I | - |
| £80,001 - £90,000 |
||
| £90,00l-100,000 | 1 | 1 |
| £100,001 -110,000 | - | - |
| Yearended 31 | Yearended 31 |
|---|---|
| March 2021 | March 2020 |
| £ | £ |
| 428,726 | 441,086 |
| 1. Tangibleassets | |||||
|---|---|---|---|---|---|
| Fixtures | and | MotorVehicles | Total | ||
| fittings | |||||
| £ | £ | £ | |||
| Cost | |||||
| As at 1 April 2020 | 307,152 | 11,248 | 318,400 | ||
| Additions | 19,963 | - | 19,963 | ||
| As at 31 March 2021 | 327,115 | 11,248 | 338,363 | ||
| Accumulated Depreciation | |||||
| As at 1 April 2020 | 275,510 | 11,248 | 286,758 | ||
| Charge forthe year | 15,502 | - | 15,502 | ||
| As at 31 March 2021 | 291,012 | 11,248 | 302,260 | ||
| Canyingvalue | |||||
| As at 31 March2021 | 36,103 | - | 36,103 | ||
| As at 31 March 2020 | 31,642 | - | 31,642 |
| which is incorporated intheUnited Kingdom, for | whichthe following is ap |
plicable: | |
|---|---|---|---|
| Profit/(loss) | Net assets | ||
| £ | £ | ||
| Yearended 31 March 2021 | 3,243 | 25,645 | |
| 13. Financial instruments |
|||
| 31 March 2021 | 31 March 2020 | ||
| £ | £ | ||
| Carrying value offmancial assets | |||
| Debt instruments measures at amortised cost | 604,704 | 577,521 | |
| Equity instruments measured at cost less impairment | |||
| Carrying amountoffinancial liabilities | |||
| Measured at amortised cost | 521,815 | 346,515 | |
| 14. Stocks |
|||
| 31 March 2021 | 31 March 2020 | ||
| £ | £ | ||
| Kit and equipment | 3,920 | 5,356 | |
| 15. Debtors |
|||
| 31 March 2021 | 31 March 2020 | ||
| Amounts fallingdue inone year: | £ | £ | |
| Trade debtors | 297,492 | 214,385 | |
| Amounts due from subsidiary | 84,632 | 131,263 | |
| Other debtors | 222,580 | 231,873 | |
| Prepayments and accrued income | 274,968 | 199,375 | |
| $79,672 | 776,896 |
| 31 March 2021 | 31 March 2020 | |
|---|---|---|
| £ | £ | |
| Othertaxation and social security | 34,282 | 17,861 |
| Tradecreditors | 354,200 | 202,640 |
| Other creditors | 133,333 | 33,333 |
| Accruals and deferred income | 1,408,975 | 1,399,913 |
| Amounts due to subsidiaxy | 92,681 | |
| 1,930,790 | 1,746,428 | |
| Deferred income: | ||
| 31 March 2021 | 31 March 2020 | |
| £ | £ | |
| Deferred income atbeginningofyear | 906,711 | 645,143 |
| Resources deferred in theyear | 214,859 | 524,401 |
| Amounts released in theyear | (207,445) | (262,833) |
| 914,125 | 906,711 |
| rspecific pulposes: | ||||
|---|---|---|---|---|
| Asat 1 April | Incoming | Resources | As at31 March | |
| 2020 | resources | ezpcnded | 2021 | |
| £ | £ | £ | ||
| Level Playing field | 18,079 | 2,684 | - | 20,763 |
| Sports Wales | 56.769 | 1,224,930 | (1,095,914) | 185,785 |
| UefaMH | 49,817 | - | (4,000) | 45,817 |
| 124,665 | 1,227,614 | (1,099,914) | 252,365 |
| As at 1 April | Incoming | Resources | Asat31 | |
|---|---|---|---|---|
| 2020 | resources | expended | March 2021 | |
| £ | £ | £ | £ | |
| General | 1,270,998 | 2,765,089 | (1,905,460) | 2,130,627 |
| 0. Analysisofnetassetsbetween funds | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| £ | £ | £ | ||
| Fund balances as at 31 March2021: | ||||
| Tangibleassets | 36,103 | - | 36,103 | |
| Investments | 1 | - | ||
| Netcurrent assets | 2,094,523 | 252,365 | 2,346,888 | |
| 2,130,627 | 252,365 | 2,382,992 |
| 31 March 2021 | 31 March 2020 | |
|---|---|---|
| £ | £ | |
| Within oneyear | 108,600 | 120,100 |
| Betweentwoand fiveyears | 432,250 | 400,000 |
| Over five years | 700,000 | 800,000 |
| 1,240,850 | 1,320,100 |
| Yearended | 31 | Yearended | 31 | |
|---|---|---|---|---|
| March 2021 | March 2020 | |||
| £ | £ | |||
| Surplus for theyear | 987,329 | 198,787 | ||
| Adjustments for: | ||||
| Investmentincome recognised inprofitorloss | (9,298) | (14,025) | ||
| Depreciation and impairmentoftangible fixed assets | 15,502 | 13,117 | ||
| Movements in working capital: | ||||
| Decrease in stocks | 1,436 | 1,633 | ||
| (Increase)/decreasein debtors | (102,776) | 6,800 | ||
| Increase in creditors | 184,362 | 291,999 | ||
| Cash generated fromoperations | 1,076,554 | 498,311 |
| Unrestricted | Restricted | YearEnded | 31 | |
|---|---|---|---|---|
| funds | funds | March 2020 | ||
| £ | £ | £ | ||
| Income from: | ||||
| Donationsand Legacies | 1,515,557 | 1,186,149 | 2,701,706 | |
| Charitableactivities | ||||
| Coaching, Education& Training Othertrading activities Interestreceivable |
1,165,595 254,011 14,025 |
1,165,595 254,011 14,025 |
||
| Total income | 2,949,188 | 1,186,149 | 4,135,337 | |
| Expenditure on: Raising Funds |
26,938 | - | 26,938 | |
| Charitableactivities | ||||
| Coaching, Education & Training Grassroots PlayerAccess & Inclusion PlayerDevelopment |
1,524,718 558,826 716,538 |
406,326 333,969 369,235 |
1,931,044 892,795 1,085,773 |
|
| Total charitable expenditure | 2,800,082 | 1,109,530 | 3,909,612 | |
| Total resourcesexpended | 2,827,020 | 1,109,530 | 3,936,550 | |
| Net (loss)/income fortheyear | 122,168 | 76,619 | 198,787 | |
| Fund Balances brought forward | 1,148,830 | 48,046 | 1,196,876 | |
| Fund Balancescarried forward | 1,270,998 | 124,665 | 1,395,663 |