2021-07-31-accounts - Colleges Wales / Colegau Cymru

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			Page	Page
Annual Report
Report ofthe Independent	Auditors			19
Consolidated Statement	of Financial	Activities		23
Consolidated Balance Sheet				24
Company Balance Sheet				25
Cash Flow Statements				26
Note to the Financial Statements				28
Income and Expenditure	Account		Appendix	1

REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE
Company	Number:		2832103
Registered	Charity Number:		1060182
Registered	Office and operational	address:	Unit 7
			Cae Gwyrdd
			Greenmeadow	Springs
			Tongwynlais
			Cardiff
			CF157AB
Auditors:			Bevan Buckland	LLP
			Cardigan House
			Castle Court
			Swansea Enterprise		Park
			Swansea
			SA7 9LA
Solicitors:			Capital Law
			Capital Building
			Tyndall Street
			Cardiff
			CF104AZ
Bankers:			Barclays Bank pic
			PO Box69
			Cardiff
			CF1 1SG

		Note	Unrestricted	Restricted	Total	Total
			funds	fundsf	2021	2020 F
INCOME AND ENDOWMENTS		FROM
Charitable activities:
Annual subscriptions			660,844		660,844	632,161
Advancement ofeducation	for the
benefit ofthe general public			82,795	896,868	979,663	1,258,792
Other trading activities:
Commercial trading operations			81,470		81,470	78,787
Investments			10,517		10,517	15,232
Total income			835,626	896,868	1,732,494	1,984,972
EXPENDITURE ON
Charitable activities
Advancement ofeducation	for the
benefit ofthe general public			848,161	909,158	1,757,319	2,051,490
Other trading activities:
Commercial trading operations			84,817		84,817	79,001
Total expenditure			932,978	909,158	1,842,136	2,130,491
NET INCOME I(EXPENDITURE)			(97,352)	(12,290)	(109,642)	(145,519)
Transfers between funds			(12,290)	12,290
OTHER RECOGNISED GAINS I(LOSSES)
Fair Value Adjustment						22,932
Actuarial gain / (loss) on defined
benefit scheme			591,000		591,000	(357,000)
Net movement in funds in	year		481,358		481,358	(479,587)
RECONCILIATION OF FUNDS
Total funds brou ht forward		15	443,860		443,860	923,447
TOTAL FUNDS CARRIED		15	925,218		925,218	443,860
FORWARD

				2021		2020
			Note
FIXEDASSETS
Tangible assets			10		409,726		437,384
Investment Property			11		115,000		115,000
					524,726		552,384
CURRENT ASSETS
Debtors			13	194,202		235,778
Cash at bank and	in hand			1,771,947		1,767,041
				1,966,149		2,002,819
CREDITORS: amounts		falling due
within one ear			14	(1,303,657)		(1,371,343)
NET CURRENT ASSETS					662,492		631,476
TOTAL ASSETS	LESS	CURRENT	LIABILIT	ES	1,187,218		1,183,860
Defined pension	scheme liabili		20		(262,000)		(740,000)
TOTAL ASSETS					925,218		443,860
Represented by:
FUNDS
Unrestricted funds			15		925,218		443,860
Restricted funds			15
					925,218		443,860

				2021		2020
			Note
FIXEDASSETS
Tangible assets			9		406,896		432,549
Investment Property			11		115,000		115,000
Investments			12		100		100
					521,996		547,649
CURRENT ASSETS
Debtors			13	194,763		315,919
Cash at bank and	in hand			1,750,410		1,664,711
				1,945,173		1,980,530
CREDITORS: amounts		falling due
within one ear			14	(1,291,978)		(1,359,774)
NET CURRENT ASSETS					653,195		620,856
TOTAL ASSETS	LESS	CURRENT	LIABILIT	ES	1,175,191		1,158,505
Defined pension	scheme
(liabili ) /asset			20		(262,000)		(740,000)
TOTAL ASSETS					913,191		428,505
Represented by:
FUNDS
Unrestricted funds			15		925,010		428,505
Restricted funds			15
					925,010		428,505

						2021	2020
						6	E
Net cash inflow I(ouNow)		from operating		activities:		6,357	(21,899)
Cash flows from investing		activities:
Interest received						247	4,060
Capital expenditure						(1,698)	(24,568)
Net cash usedin investing	activities					(1,451)	(20,508)
Change in cash and cash		equivalents	in	the		4,906	(42,407)
re ortin cried
Cash and cash equivalents		atthe beginning			ofthe	1,767,041	1,809,448
re ortin cried
Cash and cash equivalents		atthe end	of	the	reporting	1,771,947	1,767,041
period

1 Reconciliation ofnet consolidated	1 Reconciliation ofnet consolidated	incoming	resources for the year to net	resources for the year to net
cash inflow from operating	activities			2021	2020
				8	F
Net income for the year before taxation				(109,642)	(145,519)
Depreciation charge				29,356	23,451
(Increase) / Decrease in debtors				41,576	113,938
(Decrease) / Increase in creditors				(67,686)	(55,709)
Interest received				(247)	(4,060)
Defined benefit pension scheme	contributions			(146,000)	(131,000)
Defined benefit pension scheme	operating cost			249,000	172,000
Net finance expenses from the pension scheme				10,000	5,000
Net cash inflow /(oufflow) from operating		activities		6,357	(21,899)
2 Analysis ofchanges in net	fund		At 31July	Cash	At 31July
			2020	Flows	2021
			E	E	8
Cash at bank and in hand			1,767,041	4,906	1,771,947

2	Charitable Activities:	Charitable Activities:		Unrestricted	Restricted	Total	Total
				funds	funds	2021	2020
							F
Annual subscriptions:
	General subscri ptions			546,818		546,818	521,165
	EUIInternationat subscription			57,518		57,518	54,996
	Sports subscription			56,508		56,508	56,000
Advancement ofeducation			for the
benefit ofthe general		public:
	Representational Activities			63,347		63,347	27,303
	Researchjproj ect Activities			19,448	896,868	916,316	1,231,489
	Training Activities
				743,639	896,868	1,640,507	1,890,953
3	Investments			Unrestricted	Restricted	Total	Total
				funds	funds	2021	2020
Bank Interest				247		247	4,060
Rental Income				10,270		10,270	11,172
				10,517		10,517	15,232

compa	ny's gr	oss incom	e and deficit	for t	he year	are as follows:-
							2021	2020
Gross	Income						1,652,002	1,903,981
Deficit	before	actuarial	gains/(losses)	on	pension	scheme	(105,315)	(40,566)

The trading results are shown	The trading results are shown	The trading results are shown	below:	2021	2020
				5	F
Turnover				81,470	78,787
Cost ofsales				(74,431)	(68,152)
Gross profit				7,039	10,635
Administrative	expenses			(10,386)	(10,849)
Operating profit				(3,347)	(214)
Interest receivable and similar			income	21	24,026
(Loss) / Profit	on ordinary	activities		(3,326)	23,812
Tax on profit	on ordinary	activities
(Loss) / Profit	for the financial		year	(3,326)	23,812
Retained earnings at beginning			ofyear	15,357	13,367
Dividends					(21,822)
Retained earnings at end		ofyear		12,031	15,357

					Research &	Management
			Basis of	Representation	Dev, inc	&
			Allocation	&Su ort	Pro'acts	Governance	2021	2020
Costs Directly		Allocated to Activities
Educational	Advancement		Direct	9,924	659,274		669,198	1,037,764
Staff costs			Direct	439,215	435,721	34,414	909,350	797,752
Travel			Direct	204	232	882	1,318	18,391
Support costs		Allocated to Activities
Accommodation			Staff time	7,109	8,147	750	16,006	21,620
Administration		& Bank Charges Staff time		20,495	20,117	1,852	42,464	49,505
Fees and charges			Staff time	32,358	37,083	10,379	79,820	64,352
Public affairs	and other costs		Staff time	12,012			12,012	40,124
Depredation			Staff time	12,059	13,820	1,272	27,151	21,982
Total Resources Expended				533,376	1,174,394	49,549	1,757,319	2,051,490

Staff costs for the above	consisted of:	consisted of:		2021	2020
					F
Wages and salaries				292,520	298,115
Salaries, Social Security &	Pension	costs allocated to projects		298,506	263,296
Pension actuary adjustment				113,000	46,000
Pension costs				148,361	125,558
Social security costs				56,961	53,413
Recruitment costs					11,370
				909,348	797,752
Emoluments of higher	paid	employees	(excluding	2021	2020
pension contributions):
F100,000to F110,000

The average number of e as follows:	mployees during the year, calc	ulated on the basis of	full time eq
		2021	2020
Representation &Support
Research &Development,	inc. Projects
Governance
		14	14
8 Net incoming l (outgoing) resources
		2021 F	2020f
Net incoming I(outgoing)	resources are stated
after charging I(crediting)	the following:
Depreciation on owned tangible fixed assets		29,356	23,451
Operating lease rental:
Land and buildings		44,250	47,658
Auditors' remuneration:
Audit work (group &companies)		6,750	6,650
Non-audit work		6,167	4,566
Legal and professional fees		12,334	12,841

		2021f	2020 F
Current service char e		249,000	172,000
Total operating charge to	Statement of Financial Activities	249,000	172,000
		2021	2020
		6	F
Interest income on scheme	assets	(42,000)	(62,000)
Interest expense on defined	benefit obligation	52,000	67,000
Interest charged to Statement ofFinancial Activities		10,000	5,000
Net cost to Statement of Financial Activities		259,000	177,000

10 Tangible fixed asset	s - Group
	Freehold	Office	Fixtures &	Computer
	Property	equipmentf	Fittings	equipment	Total
Cost
At 1 August 2020	686,513	75,625	94,285	80,304	936,727
Additions		155		1,543	1,698
Disposals
Reclassification
At 31July 2021	686,513	75,780	94,285	81,847	938,425
Depreciation
At 1 August 2020	294,592	60,019	87,597	57,135	499,343
Charge for the year	10,314	8,720	1,093	9,229	29,356
Disposals
Reclassification
At 31July 2021	304,906	68,739	88,690	66,364	528,699
Net book value
At 31 July 2021	381,607	7,041	5,595	15,483	409,726
At 31 July 2020	391,921	15,606	6,688	23,169	437,384

10 Tangible fixed assets	10 Tangible fixed assets	- Company
		Freehold	Office	Fixtures &	Computer
		Property F	equipment F	Fittingsf	equipment F	Total F
Cost
At 1 August 2020		686,513	58,891	63,051	65,011	873,466
Additions			134		1,364	1,498
Disposals
Reclassification
At 31July 2021		686,513	59,025	63,051	66,375	874,964
Depreciation
At 1 August 2020		294,592	45,275	56,462	44,586	440,915
Charge for the year		10,314	7,618	1,072	8,149	27,153
Disposals
Reclassification
At 31July 2021		304,906	52,893	57,534	52,735	468,068
Net book value
At 31 July 2021		381,607	6,132	5,517	13,640	406,896
At 31 July 2020		391,921	13,616	6,589	20,425	432,551
11 Investment	Property				2021	2020
					F
FAIR VALUE
At 1 August 2020					115,000
Reclassification						92,068
Fair value adjustment						22,932
At 31July 2021					115,000	115,000


12	Fixed	asset investments	Company	Company
			2021	2020
				F
Investment		in subsidiary	100	100

13 Debtors	13 Debtors		Group	Company	Group	Company
			2021	2021	2020	2020
					F	F
Amounts	falling due within one year
Trade debtors			2,542	2,542	2,460	2,256
Accrued	income		163,960	156,119	214,930	201,913
Amounts	due from subsidiary	undertaking		15,595		100,519
Prepayments			27,700	20,507	18,388	11,231
			194,202	194,763	235,778	315,919

14 Creditors: amounts	falling due
within one year		Group	Company	Group	Company
		2021 F	2021f	2020 5	2020
Trade creditors		53,438	52,794	61,806	59,654
Accruals		160,674	154,445	244,913	241,638
Deferred income		1,071,785	1,065,022	1,039,986	1,033,223
Other taxation and social	security	17,760	19,717	24,638	25,259
		1,303,657	1,291,978	1,371,343	1,359,774

15 Funds - Group	15 Funds - Group				Transfer	Actuarial
		At 01.08.20	Incoming	Resources	between	Gain on	At 31.07.21
Unrestricted funds		6	resources	expended	fund	pension	8
General Fund		98,397	835,626	(903,622)	(520,909)	591,000	100,492
Capital Asset Reserve		45,463		(29,356)	508,619	-	524,726
Critical / Closure	costs	240,000					240,000
Strategic reserve		40,000					40,000
Capital Spend Reserve		20,000					20,000
		443,860	835,626	(932,978)	(12,290)	591,000	925,218
Restricted funds
Research/Project	Activities		896,868	(909,158)	12,290
TOTAL FUNDS		443,860	1,732,494	(1,842,136)		591,000	925,218

The restr	ict	ed fun	ds recei	ved during th	e year were	as follows:
							Transfer	from
				Opening			unrestricted		Closing
				balance	Income	Expenditure	funds		balance
				6	8	8	8		8
Erasmus	+ Migrant		Sport		5,719			(5,719)
VocTech					9,625	9,625
EQAVET	Restncted		Call 3		38,809	44,818		6,009
Erasmus	+ Staff 2019					109		109
ILS					12,840	13,103		263
ARAD					2,156	2,156
ALN Advisor					144,778	144,947		169
Construction					219	219
Sport					148,840	148,840
Erasmus	+ Staff 18				76	933		857
Welsh					373,300	373,300
Flexible Adult Learning					83,717	85,534		1,817
Transitions		(TIP)			1,067	1,067
Erasmus	+ Learner		18		4,946	3,789		(1,157)
HSC					1,470	1,470
ECVET					2,757	2,929		172
KA2					2,545	2,545
Erasmus	+ Learner		2019			525		525
Workload					32,546	32,546
EQF Workplan					31,458	40,703		9,245
					896,868	909,158		12,290

						Transfer	Actuarial
			At 01.08.20	Incoming	Resources	between	Gain on	At 31.07.21
Unrestricted funds				resources	expended	fund	pension	E
General	Fund		87,877	754,135	(809,187)	(520,711)	591,000	103,114
Capital	Asset Reserve		40,628		(27,153)	508,421		521,896
Critical	/ Closure	costs	240,000					240,000
Strategic reserve			40,000					40,000
Future	Capital Reserve		20,000					20,000
			428,505	754,135	(836,340)	(12,290)	591,000	925,010
Restricted funds
Research/Project		Activities	-	896,868	(909,158)	12,290
TOTAL	FUNDS		428,505	1,651,003	(1,745,498)		591,000	925,010

The restrict	ed fund	s receiv	ed during t	he year were	as follows:
						Transfer to	/ from
			Opening			unrestricted		Closing
			balance	Income	Expenditure	funds		balance
				E	E	E
Erasmus +	Migrant	Sport		5,719			(5,719)
VocTech				9,625	9,625
EQAVET Restricted		Call 3		38,809	44,818		6,009
Erasmus+	Staff 2019				109		109
ILS				12,840	13,103		263
ARAD				2,156	2,156
ALN Advisor				144,778	144,947		169
Construction				219	219
Sport				148,840	148,840
Erasmus+	Staff 18			76	933		857
Welsh				373,300	373,300
Flexible Adult Learning				83,717	85,534		1,817
Transitions	(TIP)			1,067	1,067
Erasmus+	Learner	18		4,946	3,789		(1,157)
HSC				1,470	1,470
ECVET				2,757	2,929		172
KA2				2,545	2,545
Erasmus +	Learner	2019			525		525
Workload				32,546	32,546
Erasmus+	Staff 20
EQF Workplan				31,458	40,703		9,245
				896,868	909,158		12,290

Compar	atives	for move	ment in fun	ds
							Actuarial
						Transfer	Gain/(Loss)
			At 01.08.19	Incoming	Resources	between	on	At 31.07.20
Unrestricted funds			5	resources	expended	fund	pension	5
General	Fund		35,110	777,642	(866,578)	509,223	(357,000)	98,397
Capital	Asset Reserve		528,337		(23,451)	(459,423)		45,463
Critical	/ Closure	costs				(22,932)	22,932
Strategic reserve			240,000					240,000
Capital	Spend Reserve		40,000					40,000
International Curriculum			80,000			(60,000)		20,000
Develo	ment
			923,447	777,642	(890,029)	(33,132)	(334,068)	443,860
Restricted funds
Research/Project		Activitie'.	-	1,207,330	(1,240,462)	33,132
TOTAL	FUNDS		923,447	1,984,972	2,130,491		334,068	443,860

The restrict	ed fund	s receiv	ed during	the year were	as follows:
						Transfer	from
			Opening			unrestricted		Closing
			balance	Income	Expenditure	funds		balance
			5		F	5
VocTech				15,375	15,375
EQAVET Restricted		Call 3		20,460	22,495		2,035
Erasmus+	Staff 2019				1,129		1,129
ALN - both				30,673	30,673
ARAD				3,364	3,364
ALN - Advisor				135,260	135,260
Construction				27,355	27,355
Sport				115,360	115,360
Erasmus+	Staff 18			15,950	18,901		2,951
Cymraeg Gwaith				398,001	398,001
Flexible Adult Learning				225,765	225,765
Erasmus+	Staff 2017			(452)	758		1,210
Erasmus +	Learner	18		148,722	148,722
ECVET				1,950	1,950
KA2				3,951	3,951
Erasmus +	Learner	2017		(5,978)	12,138	18,116
Erasmus +	Learner	2019		22,624	26,808		4,184
Erasmus+	Migrant	Sport		17,828	17,828
EQF Workplan				14,249	17,756		3,507
Mental Health				16,873	16,873
				1,207,330	1,240,462	33,132

A curr	ent year	12mont	hs and prior	year 12m	onths combin	ed position i	s as follows	:
							Actuarial
						Transfer	Gain/(Loss)
			At 01.08.19	Incoming	Resources	between	on	At 31.07.21
Unrestricted funds			6	resources	expended	fund	pension	6
General	Fund		35,110	1,613,268	(1,770,200)	(11,686)	234,000	100,492
Capital	Asset Reserve		528,337		(52,807)	49,196		524,726
Investment property						(22,932)	22,932
Critical	/ Closure costs		240,000					240,000
Strategic Reserve			40,000					40,000
Ca ital	S end Reserve		80,000			60,000		20,000
			923,447	1,613,268	(1,823,007)	(45,422)	256,932	925,218
Restricted funds
Research/Project		Activities		2,104,198	(2,149,620)	45,422
TOTAL	FUNDS		923,447	3,717,466	(3,972,627)		256,932	925,218

General	Fund	100,492 This represents general unrestricted funds	for use within the	for use within the
		charity
Existing	Capital Reserve	524,726 This represents funds designated for the	net book value of
		capital assets held within the Charity at the	year end.
Critical IClosure costs		240,000 To meet the potential closure costs which	would be incurred
		should the charity cease.
Strategic reserve		40,000 To meet the costs of strategic expenditure	identified	within
		the designated reserves which are funded	through	income
		and expenditure account.
Future Capital Reserve		20,000 This represents future plans for capital spend

		Note	Unrestricted	Restricted	Total
			funds	fundsf	2020
INCOME AND ENDOWMENTS		FROM
Donations and legacies
Charitable activities:
Annual subscriptions			632,161		632,161
Advancement ofeducation	for the
benefit ofthe general public			51,462	1,207,330	1,258,792
Other trading activities:
Commercial trading operations			78,787		78,787
Investments			15,232		15,232
Total income			777,642	1,207,330	1,984,972
EXPENDITURE ON
Charitable activities
Advancement ofeducation	for the
benefit ofthe general public			811,028	1,240,462	2,051,490
Other trading activities:
Commercial trading operations			79,001		79,001
Total expenditure			890,029	1,240,462	2,130,491
NET INCOME I(EXPENDITURE)			(112,387)	(33,132)	(145,519)
Transfers between funds			(33,132)	33,132
OTHER RECOGNISED GAINS I(LOSSES)
Fair Value Adjustment			22,932		22,932
Actuarial gain on defined benefit
scheme			(357,000)		(244,000)
Net movement in funds in	year		(479,587)		(479,587)
RECONCILIATION OF FUNDS
Total funds brou ht forward			923,447		923,447
TOTAL FUNDS CARRIED			443,860		443,860
FORWARD

			Value at	Value at
			31July 2021	31 July 2020
			(KM)	(FM)
Equities			66.5%	81.1%
Property			6.6%	8.2%
Government		bonds	10.1%	12.0%
Corporate	bonds		15.2%	17.1%
Cash			1.6%	1.4%
Other			0.0%	0.2%
Total			100 0'/	1PP P%

				Value at	Value at
				31July 2021	31 July 2020
				(KM)	(FM)
Fair value offund assets				3.652	2.981
Present	value of liabilities			(3.914)	(3.721)
Funded	status			(0.262)	(0.740)
Unrecognised asset				0.000	0.000
Pension	asset/(liability)	recognised	on
the Balance Sheet
				(0.262)	(0.740)

Amounts	reocgnised	in Income Statement	Year ending	Year ending
			31July 2021	31 July 2020
			(KM)	(FM)
Operating	Cost
Current service costs			0.249	0.172
Past service costs			0.000	0.000
Curtailment	cost		0.000	0.000
Settlement	cost		0.000	0.000
Financing	Cost
Interest costs			0.010	0.005
Expense	recognised	in Profit and Loss	0.259	0.177

Changes to	the present value of liabilities	the present value of liabilities
year			Year ending	Year ending
			31July 2021	31 July 2020
			(F.M)	(FM)
Opening present value		of liabilities	3.721	3.229
Current service cost			0.249	0.172
Interest cost			0.052	0.067
Contributions by participants Actuarial (gains)/losses on liabilities * Net benefits paid out¹			0.039 (0.060) (0.087)	0.035 0.295 (0.077)
Past service	cost		0.000	0.000
Net increase	in liabilities	from disposals
and acquisitions			0.000	0.000
Curtailments			0.000	0.000
Settlements			0.000	0.000
Closing present value		ofliabilities	3.914	3.721

Changes to	the fair value of	assets during the year	Year ending	Year ending
			31July 2021	31 July 2020
			(KM)	(FM)
Opening fair	value ofassets		2.981	2.892
Interet income on assets			0.042	0.062
Remeasurement gains/(losses)		on assets	0.531	(0.062)
Contribution	by the employer		0.146	0.131
Contribution Net benefits	by participants paid out¹		0.039 (0.087)	0.035 (0.077)
Net increase	in assets from disposals
and acquisitions			0.000	0.000
Settlements			0.000	0.000
Closing fair	value ofassets		3.652	2.981

Actual return	on assets	Year ending	Year ending
		31July 2021	31 July 2020
		(EM)	(EM)
Interest income on assets		0.042	0.062
Gain/(Loss) on	assets	0.531	(0.062)
Actual return	on assets	0.573	0.000

Analysis	ofamount	recognised	recognised	in Other Comprehensive	Year ending	Year ending
Income					31July 2021	31 July 2020
					(EM)	(EM)
Asset gains/(losses)		arising	during	the period	0.531	(0.062)
Liabili	ains/(losses)	arisin	durin the period		0.060	(0.295)
Total (loss) in OCI					0.591	(0.357)

						2021	2020
						6	E
(Deficit) before pension		adjustment				3,358	(99,519)
Pension adjustment	Included		in	the Income &expense account
Employers contributions		transferred		against	liability	(146,000)	(131,000)
Pension adjustment						249,000	172,000
Finance cost						10,000	5,000
(Deficit) per accounts						(109,642)	(145,519)

Director		College				Relationship
Guy Lacey (appointed 01/07/18) Chair		CEO/Principal,	Coleg Gwent			Trustee
Simon Pirotte (appointed 04/01/21)		CEO/Principal,	Bridgend	College		Trustee
Paul Croke (appointed 1/8/19, resigned	31/10/21)	Chair, Bridgend	College			Trustee
Louise Casella (appointed 1/8/19)		Director, The Open University			in Wales	Trustee
Jeffrey Greenidge (appointed 1/8/19)		Owner, Ariege	Consultancy,		Chair Bridgend	College Trustee
Paul Smart (appointed 4/1/21)		Retired				Trustee
Rhiannon Evans (appointed 24/11/21)		Senior Lecturer,	Cardiff	University		Director
Suzy Davies (appointed 24/11/21)		Senedd Member				Director
lestyn Morris (Resigned 31/12/20)		Partner, Capital	Law			Trustee

Director		College				Relationship
Guy Lacey (appointed 01/07/18) Chair		CEO/Principal,	Coleg Gwent			Director
Simon Pirotte (appointed 04/01/21)		CEO/Principal,	Bridgend College			Director
Paul Croke (appointed 1/8/19, resigned	31/10/21)	Chair, Bridgend	College			Director
Louise Casella (appointed 4/1/21)		Director, The Open University			in Wales	Director
Jeffrey Greenidge (appointed 4/1/21)		Owner, Ariege	Consultancy,	Chair Bridgend		College Director
Paul Smart (appointed 4/1/21)		Retired				Director
Rhiannon Evans (appointed 24/11/21)		Senior Lecturer,	Cardiff University			Director
Suzy Davies (appointed 24/11/21)		Senedd Member				Director
Mike James (Resigned 31/12/20)		CEO/Principal,	Cardiff and Vale College			Director
Dafydd Evans (Resigned 31/12/20)		CEO/Principal,	Grwp Llandrillo		Menai	Director

Income invoiced to Colleges
during the year
	Subs	Sport	EU/Int	Dev	Projects	Other	Total
Bridgend College	41,344	5,138	4,709		920	280	52,391
Cardiff and Vale College	43,307	5,138	4,709	11,303	1,500	280	66,237
Coleg Sir Gar and Coleg Ceredigion	43,307	5,138	4,709		920	280	54,354
Coleg Gwent	43,307	5,138	4,709		920	280	54,354
Coleg y Cymoedd	43,307	5,138	4,709			280	53,434
Coleg Cambria	43,307	5,138	4,709	11,303	920		65,377
Gower College Swansea	43,307	5,138	4,709	11,303		304	64,761
Grwp Llandrillo Menai	43,307	5,138	4,709	11,303	920	280	65,657
The College Merthyr Tydffl Ltd.	26,369	5,138	4,709			280	36,496
NPTC Group ofColleges	43,307	5,138	4,709	11,303	920	280	65,657
Pembrokeshire College	29,144	5,138	4,709	11,303		280	50,574
Adult Learning Wales St David's Catholic College *	14,653 15,763	- 1,000	4,709				19,362 16,763
Total	473,729	57,518	56,508	67,818	7,020	2,824	665,417

Payments to Colleges during the year
	Catering/	Other	Projects	Other	Total
	Accom.
	E		E		8
Bridgend College			57,083		57,083
Cardiff and Vale College			68,000		68,000
Coleg Sir Gar and Coleg Ceredigion			105,795		105,795
Coleg Gwent			45,100		45,100
Coleg y Cymoedd			30,000		30,000
Coleg Cambria			66,600		66,600
Gower College Swansea			59,000		59,000
Grwp Llandrillo Menai			60,000		60,000
The College Merthyr Tydffl Ltd.			15,000		15,000
NPTC Group ofColleges			51,600		51,600
Pembrokeshire College St David's Catholic Sixth Form College *			40,600 600		40,600 600
Adult Learning Wales				1,710	1,710
Total			599,378	1,710	601,088

Cardiff	and Vale College	1,347
Coleg Gwent		280
Gower	College Swansea	540
Merthyr	Tydffl College	375
Total		2,542

The following amounts were due to	Colleges
	E
Cardiff &Vale College	14,000
Coleg Gwent	2,500
Coleg SirGar and Coleg Ceredigion	14,001
Coleg Cambria	4,000
Llandrillo College	4,000
Merthyr Tydffl College	3,000
Total	41,501

			Year ended	Year ended	Year ended	Year ended
			31July	2021	31July	2020
			F	F	5
INCOME
College subscriptions			660,844		632,161
Grants receivable			767,476		1,116,129
Sports Grant income			148,840		115,360
Other income			63,347		27,303
Bank interest			247		4,060
Rents received			10,270		11,172
Staff development activities			36,220		32,986
Lease rental income			45,250		45,801
				1,732,494		1,984,972
LESS:
COST OF SALES
Other operating leases			44,250		47,658
Staff development expenditure			30,182		20,494
				74,432		68,152
EXPENDITURE
Conferences					840
Public affairs and representation			9,574		7,852
Website development			370		18,152
Projects &advisory	groups		671,267		1,090,317
Accomodation costs			16,561		22,520
Staff costs			909,348		797,752
Office administration			45,723		53,266
Travel &expenses			1,315		19,127
Legal & professional		fees	12,334		12,841
Auditors remuneration			6,750		6,550
Auditors remuneration		- non audit fees	6,167		4,566
Bank charges			1,208		1,234
Bad Debts					(370)
Exchange rate loss			57,732		4,240
Depreciation:
Freehold property			10,314		10,314
Fixtures 8 fittings			9,812		9,964
Computer equipment			9,229		3,174
				1,767,704		2,062,339
DEFICIT FOR THE	YEAR			(109,642)		(145,519)