2022-07-31-accounts

		Unrestricted funds	Restricted funds	Total 2022	Total 2021
INCO$IE AND ENDOWINENTS	FRONI		8	8	2
Charitable activities:
Annual subsaiptions Advancement ofeduca8on forthe		830,391		830,391
bsnslit ofthe general public Other trading activities: Commerd el trading operations Investments		17,154 1'l5.340 'l7,839	2,276,698	2,293,862 115,340 17,839	979,663 81,470 10,517
Total income		980&734	2,275&698	3,257,432	1,732,494
EXPENDITURE ON
Charitable activities
Advancement ofeducation for the
benefit ofthe general public Other tracgng activities:		684,572	2,282,219	2,966,791	1,757,319
Commerchtl trading operations		106,487		106,487	84,817
Total expenditure		7$1,0592,282,2193,073,278			1,842,136
NET INCOME /(EXPENDITURE)		189,675	(5,521)	184,154	(109,642)
Transfers between funds		(5,521)	5,521
OTHER RECOGNI8ED GAINS /(LOSSES) Fair Value Adjustment		160,000		160.000
Actuarial gain /(loss) on defined
benefit scheme		368000		368000	591,000
Met movsmsnt ln funds In year		712,'I54		712,154	481,358
RECONCILIATION OF FUNDS
Total funds brou ht forward		925218		926218	443,860
TOTAL FUND8 CARRIED FORWARD	15	1,637,372		1,837,372	925,218

					2022			2021
	Note			6
FIXEDASSETS
Tangible assets Investment Properly		10 11				316,071 275,OOO			409,724 115,000
CURRENTASBETS						591,071			524,724
Debtom Cash at bank and In hand		13	2	336,948 363,899			194,202 1,771,949
			2,700,847				1,966,151
CREDITORS: amounts	falling dus
within one ar	14		1,654546				I303657
NETCURRENTASSETS						1,046,301			662,494
TOTAL ASSETSLESSCURRENT		LIABILITIES				1,637,372			1,187,218
Defined pension scheme
Ihrbtl	20								282000
TOTAL ASSETB						1,637,372			925,218
Represented by:
FUNDS
Unrestricted funds Restricted funds	15 15					1,637,372			925,218
						1,637,372			925,218

					Note	2022	2021
						5	6
Net cash inflow I(outgow) from operating			activities:			595,718	6,357
Cash flows from Investing activities:
Interest received Capital expenditure						975 (4,741)	247 (1,696)
hist cash used in investing	activities					(3,766)	(1,451)
Change In cash and cash rtin cried	equivalents	In the				591,952	4,906
Cash and cash equivalents re rtln ried	atthe beginning			ofthe		1~771~947	'I)767~041
Cash and cash equivalents period	atthe end	ofthe		reponlng		2,363,89$	1,771,947

1 Reconciliation ofnst consolidated Incoming cash Inflow from operating activities	resources for the year to net 2022	resources for the year to net 2022	2021
		6	6
Net Income forths year before laxation Depreciation charge Properly Impairment		184,154 27,102	('I09,642) 29,356
(Increase) / Decrease in debtors		71,293
(Decrease) / Increase in cmdltors Interest received De0ned benefit pension scheme contributions Defined benefit pension scheme operating cost Net finance expenses from the pension scheme		(142,745) 350.889 (975) (156,000) 259.000 3,000	41,576 (67,686) (247) (146,000) 249,000 10,000
Net cash ingow/(out8ow) fram operating activiTies		595,718	6,357
2 Analysis ofchanges In nst fund	At31July 2021 6	Cash Flows 8	At 31July 2022f
Cash at bank and in hand	1,771,947	591,952	2,363,899

2 Charitable Activities - Group	Unrestricted	Restricted	Total	Total
Annual subscriptions:	funds 6	funds 6	2022 6	2021f
Genemi subscrlptions EVIIntemationsl subscri ption Sports subscripdon	704,119 61,155 85,117		704,119 61,155 66,117	546,818 57,518 55,508
Advancement ofeducation for the
bsne5t ofthe general public:
Representational Actin'ties Resesrctvproject Activities Training ActiviDes	5,192 11,972	2,276,898	5,192 2,288,070	63,347 916,316
	847,555	2,276,698	3,124,253	1,640,507
3 Investments -Group	Unrestricted	Restricted	Total	Total
	funds	funds	2022	2021
Bank Interest Rental Income	975 10,864		975 16,804	247 10270
	17,830		17,839	10,51I7

company's gr	oss incom	e snd deficit	fort	he year are ss Follows:-		. paren
					2022	2021
Gross Income					3,143,060	1,651,003
De5dtbefore	actuarial	sins/(losses	on	enslonscheme	353,559	106,314

The trading results are shown	below:		2022		2021
			5		5
Turnover
Cost ofsales			115,340		81,470
			(96,129)		(74,431)
Gross proiit Administrative expenses			19,2'I'I (10,358)		7,039 (10,366)
Operating pmfit Interest receivable and similar income			8,853 32		(3,347) 21
(Loss) / Profit on ordinary activities			8,885		(3.326)
Tax on profit on ordinary acfivltles
(Loss) / Profit for the finsixfsl year			8,885	-	3.326
Retained earnings st beginning	ofyear		12,031		15,357
Dividends
			(8,100)
Retained earnings at end ofyear			12,816		12,031
'Ress results are wholly included	in the consolidated	finandal	statements

Basisof Auocatlon	Representauon 6Bu rt	Reseamh 8 Dsv, Inc pro acts	Idanagemsnt a Governance	2022	2021
Costs Directly Aaocsted to Acttvutes
Educational Advancement Dlmct StsN costs Direct Travel Direct	185 378,219 2,360	1,835,788 479,881 3,303	22,030 2800	1,835,071 880,'t30 8,151	669,198 909,350 1,310
SuPPort costs Agocsted to Activities
Accommodation Staff time Administration 6 Bank Charges Staff time Fees end charges Staff time Public affairs and other costs Staff time Depredsllcn Staff time Property Impairment StaN gms	8,443 19.544 2?„074 18,594 10,212 29,230	11.770 22,968 31,909 14,245 40,6$7	541 1,054 8,430 654 1,426	20,762 4$,568 63,213 1$,504 25,111 71,29$	18,006 42,464 70,820 12,012 27,151
Total Resources ndsd	489,869	2', 507	36,815	2908,791	1,757,318

Staffcosts forthe above Wages snd salaries Salaries, Social Security & Pension actuary sdjustmsnt Pension costs	consisted of: Pension costs allocated toprojects	consisted of: Pension costs allocated toprojects	2022f 120,307 362,369 106,000	2021 292,520 298,506 113,000
Social security costs Recruitment costs			155,071 57,543 30092	148,381 58,961
			831,382	909,348
Emoluments of higher pension contributions): 2100,000toKt10,000	paid employees	(excluding	2022	2021

		2022	2021
Representation &Support
Research 3 Development, Governance	Inc. Projects
		15
8 Nst incoming I(outgoing) resources -Group
		2022	2021
Net Incoming I(outgoing) after charging l(crediting)	resources sre stated the following:	8
Depreciation on owned tangible fixed assets Operating lease rental:		27,102	29,356
Land and bufldlngs Audifom' remuneration:		45,250
Audit work (group &companies) Non-audit work Le stand rofesskxtalfses		6,750 8,167 'l2 334	6,750 6,167 12334

Analysis ofpension costs charged tothe 8tstemsnt ofFin	ancial Activities	-Group
	2022	2021
Current service char e Total operatln char etoStatement ofFinancial Activities	6 259,000 259,000	249000 249,000
	2022	2021
Interest income on scheme assets Interest e ense on deflnsd bsneflt obli ation Interest cha ed to Statement ofFinancial Activities	6 (63,000) 66,000 3,000	6 (42,000) 52,000 10,000
Net cost to Statement ofFinancial Activities	262,000	259,000

10 Tangible Axed ass	ets -GrouP
Cost	Freehold Property 2	Oflice equipment 6	Fixtures 6 Fittings 6	Computer equipment 6	Total 6
At 'I August 2021 Additions Dlspcsats Recluse(Tication	686,513 (71,293)	75,779 162 (2,036)	94,285	81,847 4,579 (717)	938,424 4,741 (2,753) (71,293)
At 31July 2022	615,220	73,905	94,285	85,709	869,119
Depreciation
At 1August 2021 Cheque for the year Disposals RedassiTicaiion	304,906 10,314	68,738 6,256 (2,036)	88,690 1,094	66,365 9,438 (717)	528,699 27,102 (2,753)
At 31July 2022	315,220	72,958	89,784	75,086	553,048
Net book value
At31July2022	300,000	947	4,501	10,823	316,071
At 31July 2021	381,606	7,041	5,595	15,482	409,724

10 Tangible fixed assets -Company	10 Tangible fixed assets -Company
Cost	Freehold Propertyf	Otgce equipmentf	Fixtures S Fittingsf	Computer equipmentf	Totalf
At 1 August 2021 Additions Disposals Impairment	886,513 P1,293)	59,025 162 (1,998)	63,051	65,375 4,213 (495)	874,964 4,375 (2,493)
At 31July 2022	615,220	57,189	63,051	70,093	(71,293) 805,553
Depreciation
At 1 August 2021 Charge for ihe year Disposals RsclassEcstion	304,906 10,314	52,893 5,370 (1,998)	57,534 1,072	52,735 8,355 (495)	468,068 25,1'l1 (2,493)
At 31July 2022	315,220	56,265	58,606	60,595	490,686
Net book value
At3f July 2022	300,000	924	4,445	9,498	314,867
At 31 July 2021	381,607	8,132	5.517	13,640	406,896
11 Investment Property - Group FAIR VALUE				2022 f	2021
At 1August 2021
Fair value sdjustmsnt				115,000	115000
				160,000
At 31July 2022
				215DDD	110DDD,

12	Fixed	asset investments	-Company	Company	Company
				2022	2021
Investmsnt		In subsidiary		100

13 Debtors Amounts falling dus within one year	13 Debtors Amounts falling dus within one year	Group 2022 5	Company 2022 8	Group 2021 8	Company 2021f
Trade debtors Accrued income Amounts dus from subsidiary Prepayments	undertaking	18,047 276,01'I 42,090	847 271,012 377,765 3&,177	2,542 163,980 27,?00	2,542 156,'I'l9 15,595 20,507
		336,048	684,801	194,202	194,763
itors: amou	ng due
within one year Trade creditors Accruais Deferred Income Other taxation and social security		Group 2022 5 219,028 868,429 742,751 23,538	Company 2022 8 219,327 656,011 730,188 20,609	Gmup 2021 63,438 160,674 1,071,785 tTI760	Company 2021f 52,794 154,445 1,065,022 19,717
		1,654,546	1,620,135	1,303,657	1291,978

15 Funds - Group Unrestrlcled funds	At01.08.21 6	Incoming resources		Resoumes expended	Transfer between fund	Other recognised gain/loss	At31.07.22 f
GeneralFund Capllal Asset Reserve Critical / Closure costs Strategic reserve Capital Spend Reserve	100,492 524.728 240,000 40,000 20,000	980.734		(892,664) (98,395)	(10,262) 4,741	368,000 160,000	748,300 591,072 240,000 40,000 20,000
	925,218	980,734		(791,059)	(5,521)	528,000	1,637,372
Restricted funds
Pro)ect Activities		2,276,698		(2,282,219)	5,521
TOTALFUNDS	925,218	3,257,432		3,073,278		528,000	1,637,372
The restricted funds received during		the year	ware as follows:
					Transfer from
	Opening balance 6	Income 6		Expenditure 6	unrestricted funds	Closing balance 6
Erasmus +Migrant Sport Erasmus +Staff2019 ILS ALN - Advisor ALN - Advisor Active WeQbelng Active Wsilbeing Sport Spelt SPW WOW WG WOW WG SOF Cymmeg Gwdth Welsh/Cymrseg Gwailh Turing Transitkms (TIP) Erasmus + Learner 2019 Workload Workload BFL Governance KTS Erasmus+ Staff20 EQF Workplan Erasmus + Learner 2020		299 21,030 21,984 147,177 28,628 45,000 6427 44,954 103,569 226,100 30,000 12,833 251,639 118,894 466,025 18,933 316.793 337,428 6,161 25,000 19,500 30,000		22,572 21,984 147,177 28,628 45,000 6,227 44,954 103,569 226,100 30,000 12,833 251,539 116,694 468,025 18,933 316,793 337,428 6,151 26,323 'l9,538 30,000 1,291 834 1.626	(299) 1.542 1,323 38 1,291
	2,276,698			2,282,219	5,521

15 Funds - Con't		FOR THE	YEAR ENDED 31	JULY2022
Funds -Charity
Unrestricted funds	At01.08.21 8	Incoming resources	Resources expended	Transfer between fund	Giber Recognised Gain/Loss	At31.07.22 8
General Fund Capllal Asset Reserve Critical / Closure costs Strategic reserve Future Capital Reserve	91,295 521,896 240,000 40,000 20,000	873,462	(588,171) (96,404)	(9,896) 4,375	368,000 160,000	734,690 589,867 240,000 40,000 20,000
	913,191	873,462	(684,575)	(5,521)	528,000	1,624,557
Restricted funds
Research/Pro)ect ActlvEss		2,276,698	(2,282.219)	5,521
TOTAL FUNDS	913,191	3150,160	2966,794		528,000	1,624,557

The restricted	funds mcel	vsd during t	he year wem	as follows:
					Transfer to	/ from
		Opening balance	Income	Expenditure	unrestricted funds			Closing balance
		8	6	6	6			8
Erasmus +Mtgrent Sport Erasmus +Staff2019 ILS			299 21,030 21,984	22,572 21,984		(299) 1,542
ALN - Advisor			147,177	147,177
ALN - Advisor			28,628	28,628
Active Wsllbeing			45,000	45,000
Active Wegbslng Sport			6,227 44,954	6,227 44,954
Sport SPW WOW			103,569 226,100	103,569 226,100
WG WOW WG SOF			30,000 12,833	30,000 12,833
Cymraeg Gwsith			25'l,539	251,539
Welsh/Cymraeg	Gwsilh		116,694	116,694
Turing			466,025	466,025
TransNons (TIP) Erasmus+ Learner 2019			18,933 318,793	18,933 316,793
Workload			337,428	337,428
Workload BFL Governance KTS Erasmus +Staf20 EQF Workplsn			6,151 25,000 19,500 30,000	6,151 26,323 19,538 30,000 1,291 834		1,323 38 1,291
Erasmus + Learner 2020				1,626		1,626
			2,276,698	2282,219		5	521

Unrestdctsd funds	At01.08.20 6	Incoming resouf'css	Resources expended	Transfer between fund	Other Recognised Gain/Loss	At 31.07.21 f
General Fund Capital Asset Reserve Strategic reserve Capital Spend Reserve International Curriculum Dsvelo ment	98,397 45,463 240,000 40,000 20,000	835,626 -	(903,622) (29,356)	(520,909) 508,619	591,000	100,492 524,726 240,000 40,000 20,000
	443,850	835,628	(932,978)	(12,290)	591,000	925,218
Restricted funds
Research/Project ActiviTie.		896,888	(909,158)	12,290
TOTAL FUNDS	443860	1 732,494	1842,136		591,000	925218
The restricted funds received during the year were			as follows:
			Transfer from
	Opening balance 6	Income 6 Expenditure 6		unrestricted funds 8	Closing balance 6
Erasmus +Migrant Sport VocTech EQAVET Rsshlcted Call 3 Erasmus +Staff2019 ILS ARAD ALN Advisor Construction Sport Erasmus +Staff18 Welsh Flexible Adult Learning Transitions (TIP) Erasmus +Learner 18 HSC ECVET KA2 Erasmus+ Leamer2019 Workload EQF Workplan		5,719 9,625 38,809 12,840 2,156 144,778 219 148,840 76 373,300 83,717 1,067 4,946 1,470 2,757 2,545 32,546 3'I,458	9,625 44,818 109 13,103 2,156 'l44,947 219 148,840 933 373,300 85,534 1,067 3,789 1,470 2,929 2,545 525 32,546 40.703	(5,719) 6.009 109 263 857 1,817 (1,157) 172 525 9,245
		896,868	909,158	12,290

Unrestricted funds	At 01.08.20 8	Incoming resources	Resources expended	Transfer between fund	Other Recognised GainlLoss	At31.07.22 8
General Fund Capital Asset Reserve Critical IClosure costs Strategic Reserve Cs ital S nd Reserve	98,397 45,463 240,000 40,000 20,000 443,860	1,8'i6,360 1,816,360	(1,596,286) (127,751) (1,724,037)	(531,171) 513,360 (17,811)	959,000 160,000 1,119,000	746,300 591,072 240,000 40,000 20,000 1,637,372
Restricted funds
Research/Project Activities		3,173,566	(3,191,377)	17,811
TOTAL FUNDS	443,860	4,989,926	4,915,4'l4		1,119,000	1,637,372

	Note	Unrestricted	Restricted	Total
		funds	funds	2021
INCOME AND ENDOWMENTS	FROM			2
Donations snd legacies
Charitable actlvltlasi
Annual subsciiptlons Advancement ofeducation forthe		660,844		660,844
benefit ofthe general public Other trading acthdtlssi		82,795	896,868	979,683
Commsrdal trading operations Investments		81,470 10,517		81,470 10,517
Total income		835,626	896,888	1,732,494
EXPENDITURE ON
Charitable activities
Advancement ofeducation for the
benelit ofthe general public Other trading activities:		848,161	909,158	1,757,319
Commercial trading operations		84,817		84,817
Total expenditure		932,97S	909,158	1,842,136
NET INCOME I(EXPENDITURE)		(97,352)	(12,290)	(109,642)
Transfers between funds		(12,290)	12,290
OTHER RECOGNISED GAINS I(LOSSE8)
Fair Value Adjustment
Actuanal gain on defined beneiit
sch8llls		591000		591000
Net movement In funds In year		481,358		481&358
RECONCILIATION OF FUNDS
Total funda brou ht fonuard		443860		443860
TOTAL FUNDS CARRIED FORWARD		825,21S		925,218

Asset allocation
		Value at	Value at
		31July 2022	31 July 2021
		6M	5M
Equltiss Properly Government bonds Corporate bonds Mugi Asset Credit Cash Ogter Total		67.2% 7.5% 9.0% 8.0% 5.6% 2.7% 0.0% 100.0%	66.5% 66% 10.1% 152% 0.0% 1.6% 0.0% 100.0%
Reconciliation offunded status to balance sheet
		Value at	Value at
		31July 2022	31July 2021
		SM	2M
Fair value offund assets Present value ofliabgities		3.674 2.962	3.652 (3.914)
Funded status		0.712	(0262)
Unrscognised asset Pension sassy(liability)	recognised on	(0.712)	0.000
the Balance Sheet
		0.000	(0.262)

Amounts reocgnlsed	In Income Statement	Year ending 31July 2022	Year ending 31July 2021
		(EM)	(EM)
Operadng Cost
Cunsnt service costs Pest service costs Curtailment cost Setdement cost Financing Cost		0.259 0.000 0.000 0.000	0.249 0.000 0.000 0.000
Intemst cos'Is Expense recognised	in Profit and Loss	0.003 0.262	0.010 0.259

Changes to ths present value of liablgtiea year	during	the
			Year ending 31July2022	Year ending 31July 2021
			(RM)	(SM)
Opening present value of liabilities Cunsnt service cost Interest cost Contrfbutions by par0cipants Actuadal (gains)ilossss on llabili5ss ' Nst benefits paid out0 Past service cost Nst increase in liabilities from dispossls and acquisitions Curtallmsnts Setdemsnts Closln present value ofIlabgitiss			3.914 0.259 0.060 0.040 (1231) (0.050) 0.000 0.000 0.000 0.000 2.962	3.721 0.249 0.052 0.030 (0.0600) (0.087) 0.000 0.000 0.000 0.000 3.914

Changes tothe fair value of	assets during the year	Year ending	Year ending
		31July 2022	31July2021
		gilt	t3I
Opening fair value ofassets Interel income on assets Remeasurement gains/(losses) on assets Contribugon by the employer Conuibution by partldpants Nst benefits paid out8 Net Increase in assets from dispcsals		3.652 0.063 (0.1510) 0.156 0.040 (0.086)	2.981 0.042 0.53 0.146 0.039 (0.087)
and acquisitions Setgemsnts Closln fair value ofassets		0.000 0.000 3.674	0.000 0.000 3.652

Actual return on assets	Yearending	Year ending
	31July 2022	31July 2021
	5M	2M
Interest income on assets Gain/ Loss on assets Actual mtum on assets	0.083 0.151 0.688	0.042 0.531 0.573

Analysis ofamount Income	mcognlsed	ln Other Comprehensive	Year ending 31July 2022	Year ending 31July 2021
			5M	2M
Asset gainsl(losses) arising during the period Lisb8ity galnslgosses) arising during the pedod Unre nised Pension Asset Total loss in OCI			(0.151) 1231 0.712 0.368	0.531 0.060 0.591

Income Invoiced to Colleges during the year
	Suba	Sport	EU/Int	Dev	Projects	Other	Total
Bridgend College Cardiff end Vakr College Coleg SirGar and Coleg Cersdigion Coleg Gwent Coleg y Cymoedd Coleg Cambda Gower College Swansea Grwp Llandrillo Msnai The College Merlhyr Tydfil Ltd. NPTC Group ofColleges PembrokssMre College Adult Learning Wales St David's Catholic College	44,768 46,066 46,066 46,066 46,066 46,066 46,086 46,066 28,049 46,066 32,229 14,472 17,259	5,465 5,465 5,465 5,465 5,465 5,465 5,465 5.465 5,465 5,465 5,465 1,040	5,009 5,009 5,009 5,009 5,009 5,009 5,009 5,009 5,009 5,009 5,009 5.009 5,009	22,372 26,584 20,750 30,989 38,810 53,702		209 400 309 909 594 209 200 309 200 200 209	55,451 79,312 56,849 57,449 57,134 83,333 77,490 87,838 38,723 95,550 96,614 19,481 23,408
Total	505,305	61,'I55	65,'l17	'l93,207		3,848	828,632

	Catering f Accom.	Other	Projects	Other	Total
Bridgend College Cardiff and Vale College Coleg SirGar and Coleg Cerediglon Coleg Gwent	8		88,375 165,171 255,721		68,375 165,171 255,721
Coleg y Cymoedd Coleg Cambric			71,437 76.828		71,437 76,828
Gower College Swansea Grwp Llandrlllo Menai			92,850 91,400		91,400
Ths College Merthyr Tydfil Ltd. NPTC Group ofColleges Psmbrokeahire College St David's Catholic Sixth Form Colkrgs * Adult Learning Wales			109,783 54,964 71,440 61.516 32,391 22,251		109,783 54,964 71,440 61,516 32,391 22,251
Total
			1,194,127	~	1,194,127

22 Related party trans	actions -(Con't)
The following amounts	were receivable from Colleges at 31July 2022:
	6
Cardiff and Vale College	47
Coleg Gwsnt	600
Gower College Swansea	200
Total

Bridgend College	500
Cardilf and Vale College	66,750
Coleg yCymosdd	5,000
Coieg Sir Gar and Coleg Ceredigion	102,752
Gower College Swansea	4,500
NPTC Group	6,000
Total	185,502