Impact Report 2020-2021 Ceredigion Association of Voluntary Organisations **CAVO** **Impact Report 2020-2021** ## Foreword ## **CAVO virtual staff meeting.** Welcome to the 2020-2021 annual impact report which captures the achievements of the Ceredigion Association of Voluntary Organisations (CAVO) Team. It is once again a pleasure to present CAVO's Annual Impact Report. We extend our thanks to everyone who has supported our work during the past year, to our Board of Trustees for their guidance and commitment and to our staff team for their enthusiasm and dedication. CAVO is committed to working positively with others and continue to collaborate on a number of key strategic partnerships across Ceredigion and West Wales. We continue to explore how we establish an even closer working relationship with West Wales CVCs to better support the third sector and engage with key partners to build active, resourceful and connected communities at a local level. CAVO are also a partner of Third Sector Support Wales (TSSW), a consortium of county voluntary councils (CVCs) and Wales Council for Voluntary Action (WCVA). TSSW’s collective ambitions and aspirations are reflected in our four pillars of activity: • Volunteering - Good governance - Engagement and influencing - Sustainable funding Many thanks to our funding partners for their continued commitment which has enabled us to support the vital work of the third sector and volunteers in Ceredigion. Throughout 2020-21, Covid-19 had a significant impact on the way CAVO operated, along with the wider Third Sector. Meetings with staff, trustees, organisations and volunteers were moved on-line to stay in contact with voluntary community groups and volunteers at a critical time. Third Sector groups stepped up to the monumental challenge and quickly made fundamental changes to the way we offered services and activities to support communities and individuals to respond and recover from the impact of the virus. Hazel Lloyd Lubran, CAVO Chief Executive John Jones, CAVO Chair Third Sector groups stepped up to the monumental challenge and quickly made fundamental changes to services and activities. **1** **CAVO** **Impact Report 2020-2021** ## CAVO Staff 2020/2021 Chief Executive Finance & Business Operations Manager Engagement & Collaboration Manager Support & Skills Manager Communications & Fundraising Officer Chief Executive Hazel Lloyd Lubran Finance & Business Operations Manager Christine Glasson Engagement & Collaboration Manager Chesca Ross Support & Skills Manager Teleri Davies Communications & Fundraising Officer Kelly Jones (until September 2020) Cerys Sharples (from December 2020) Volunteering Officer Trish Lewis Volunteer Enabler Ruth Evans Community Volunteering Development Officer Kate Naidoo Project Development Officer Gareth Jones (until April 2020) ## CAVO Trustees 2020/2021 John Jones Anne Pratt William Morris Chair Vice Chair Treasurer Dylan Wilson-Lewis Independent Auditors: Bevan & Buckland Employment / Health & Safety Advice: SAGE **2** **CAVO** **Impact Report 2020-2021** ## Performance 2020/2021 ## Who we worked with: 105 275 35 Organisations supported Interaction with third, with direct information public and private sectors and advice Organisations supported to access specialist information, advice and guidance £384K Funding distributed to third sector organisations via CAVO £839K Funding awarded to third sector organisations following support from CAVO 154 Volunteers supported to enter a volunteering opportunity 50 Participants attended digital training courses Attendees at networks, partnerships, forums and 637 events **3** **CAVO** **Impact Report 2020-2021** ## Good Governance Wellbeing This pillar of activity contributes to the following Wellbeing Goals: Goals A Wales of cohesive communities A resilient Wales A more equal Wales Our Goal Those involved in running third sector organisations effectively lead their organisations and maintain high standards of governance. Information, news and up-dates through our websites, e- How we bulletins, blogs, meetings, networks and learning helped opportunities, including events on charity law, good governance, safeguarding, GDPR and cyber security. Bespoke information, guidance and learning for organisations and trustees on implementing good governance policies and practices. Specialist safeguarding information, advice, training and events. CAVO The CAVO Team shared important announcements and latest guidance from Welsh Government, Public Health Wales, COVID-19 Ceredigion County Council and Hywel Dda University Health Response Board through social media - Twitter, Facebook - and our e-bulletin. A survey was circulated to CAVO Members to ascertain how groups were planning for the next steps to recovery and identify any support needed. Focused virtual meetings and briefings based on feedback were held and key challenges and opportunities identified shared with Ceredigion Public Services Board partners, WCVA and Welsh Government. CAVO Chair a multi-agency panel set up to advise and support the safe and proportionate reopening of community facilities and introduction of activities. The Panel was created under Ceredigion’s Public Services Board Sub Group; Understanding our Communities at the request of Ceredigion Gold Command, in partnership with Ceredigion County Council, along with Heddlu Dyfed Powys Police and Mid and West Wales Fire and Rescue Service. The panel organised and delivered a series of information sessions have been arranged to focus on various topics including Buildings, Activities and People . CAVO have also been part of a small team which worked with Welsh Government to develop guidance, review regulations and decide on key messages for community facilities across Wales. **4** **CAVO** **Impact Report 2020-2021** ## Influencing and Engagement Wellbeing Goals This pillar of activity contributes to the following Wellbeing Goals – A Resilient Wales, A Healthier Wales, A More Equal Wales. ## Our Goal Public policies and services are improved through the influence of third sector organisations (working with TSSW). ## How we helped - Information, news and up-dates on policy developments through our websites, e-bulletins, blogs, meetings, networks and events. - Facilitation of local and national networks to bring together groups and public bodies. Co-ordination of third sector involvement in policy development and scrutiny. - Promotion of Infoengine, a free online directory of third sector community services, connected to Dewis Cymru. Provision of a third sector perspective through our - involvement on the Ceredigion Public Services Board and its Project Groups, West Wales Regional Partnership Board and other local/regional fora. Worked with regional partners to deliver a Creating Connections For All programme aimed at building resilience within communities and developing informal structures of support. ## CAVO COVID-19 Response CAVO staff have continued to support the Disabled People Forum which meets regularly to ensure that the needs and issues of those who are less able are brought to the attention of public service providers. The CAVO Team supported Forum Members to represent the impact of the introduction of Town Centre Safe Zones had on the Disabled Community. Several adaptations were made in response to the challenges highlighted at meetings and through social media interaction. Local teams set up to co-ordinate the community response to COVID-19 (Facebook Groups, YFCs, Town and Community Councils, Churches, Chapels, etc) were supported to share best practice and provided with useful guidance, funding, materials and advice focused on financial transactions, use of PPE and reaching those who are in need of support. CAVO took a regional lead to ensure that front line Third Sector staff and volunteers were included in the vaccination programme. CAVO arranged meetings of Community Transport providers across West Wales to support the safe transportation of people to vaccination appointments. **5** **CAVO** **Impact Report 2020-2021** ## Sustainable Funding Wellbeing This pillar of activity contributes to the following Wellbeing Goals – Goals A prosperous Wales A Resilient Wales Our Goal Third sector services contribute to community wellbeing. Information and resources on our websites, social media, How we learning programme and events, including regional events. helped Funding Wales, an online database of funding opportunities. Hosted digital opportunities to engage with funders. Bespoke guidance on funding bids and application processes. Administered the Youth Led Grant and the Caring Communities Innovation Scheme to distribute Integrated Care Fund (ICF), Welsh Government COVID-19 response and Comic Relief funding. CAVO were involved in the decision making process for the Dyfed Powys Police Community Participatory Budgeting Scheme in Aberystwyth and Lampeter, the Cambrian Railway Partnership Grant, Age Cymru Friend in Need Grant and the Cefn Croes Windfarm funds. CAVO COVID-19 Response A Ceredigion COVID-19 Funding Briefing Sheet was regularly updated and shared. The Ceredigion Caring Communities Grant Scheme was revised to distribute additional funding from Welsh Government and Comic Relief to support the Third Sector and communities to adapt and respond to COVID-19. We established a Caring Communities Fast Track Scheme to quickly distribute up to £1,000 to support any COVID-19 activity. 19 successful applications to the Caring Communities Fast Track Scheme have been approved to a value of £18,250.02. In addition, CAVO centrally purchased and distributed goods, such as hand sanitisers, volunteer ID badges and car stickers to value of £4,445, along with CAVO's other grant scheme over £64 thousands of support provided during 2020/21. We offered to negotiate with funders or commissioners if there were any concerns about grants or contracts, along with help to and reprofile activities. **6** **CAVO** **Impact Report 2020-2021** ## Volunteering ## Wellbeing Goals This pillar of activity contributes to the following Wellbeing Goals – A Wales of Cohesive Communities A Wales of Vibrant Culture and thriving Welsh Language ## Our Goal Wales benefits and thrives because of volunteering. ## How we helped Promote the national Volunteering Wales digital platform, a database of volunteering opportunities. Information, news and up-dates through our websites, e- bulletins, blogs, meetings, networks, events and learning opportunities. Bespoke advice to volunteers and organisations and facilitation of Volunteering networks and the Ceredigion Volunteer Managers Forum. Celebrated volunteers through digital activities and awareness raising during Volunteer’s Week. Supported the Social Care Volunteering Programme and explored opportunities to enhance the Ceredigion Timebank provision through the Ceredigion Connect platform. CAVO COVID-19 Response The response from individuals across Ceredigion who wanted to support the COVID-19 response effort was overwhelming and heartening A series of Virtual Volunteering Fairs were arranged by the CAVO Team to promote volunteering opportunities to tackle key areas including community transport, environmental opportunities, community support and digital skills. In response to COVID-19, CAVO supported the Hywel Dda Volunteering for Health Team to recruit and screen suitable candidates for the Volunteer Car Park Marshal role at the Cardigan and Aberystwyth mass vaccination centres. The CAVO led bid for funding from the Welsh Government Volunteering Recovery Fund was successful - a programme of work was delivered to sustain volunteering and community action during recovery. CAVO organised a Love Where You Live Campaign to promote environmental kindness in partnership with the Ceredigion Public Services Board Climate Change Project Group. People across Ceredigion were encouraged to explore their local environments. **77** **CAVO** **Impact Report 2020-2021** ## Financial Summary ## Income 2020-2021 Expenditure 2020-2021 **8** **CAVO** **Impact Report 2020-2021** ## What next for 2021/22? Collaborate with other County Voluntary Councils, WCVA and specialist advice providers to better support the Third Sector in Ceredigion. Explore further opportunities to enhance our existing grant scheme to invest in the Third Sector and community activities. Create opportunities to enable more people to contribute their time to make a difference to their own lives and the lives of others and be active citizens. Develop and deliver a targeted programme to support volunteer recruitment. Explore ways to coproduce services and solutions to identified issues with the Third Sector, communities and people. Influence regional approaches to measure the impact of Third Sector activities and engage with citizens. Ensure that the voice of the Third Sector influences and shapes the development of local and regional plans and funding programmes. **29** **CAVO** **Impact Report 2020-2021** ## Membership List - Abbeyfield Wales Society (Aberystwyth) Aberarth Neuadd Llanddewi Aberarth Village Hall - Aberporth Village Hall and Recreation Ground - Aberystwyth University Advocacy West Wales/Eiriolaeth Gorllewin Cymru Pembroke Age Cymru Ceredigion ( now Age Cymru Dyfed) Arts4wellbeing - Arts Care Gofal Celf - Barod (Head office) British Liver Trust - British Red Cross- Mid Wales Camfan Canolfan Capel Cilgwyn Canolfan Ceufad Llandysul Paddlers Canoe Centre Ltd Canolfan Morlan Centre - Canolfan Plant Jig-So Childrens Centre Cardigan Bay Marine Wildlife Group Cardigan Youth Project/Area 43Carers` Unit Cilcennin Cyntaf Citizens Advice - Ceredigion CLG - ACE Project Clwb Cychod Teifi Boating Club Clynfyw Care Farm Coppicewood College Country Cars - RVS Cymru - Milford Haven Cruse Bereavement Care West Wales Cwmni Cymunedol Cletwr Cyf Cylch Meithrin Llangwyryfon Cymdeithas Aberaeron Society Cymdeithas Gofal The Care Society DASH - Disabilities and Self Help. Dihewyd Village Hall Disability Arts Cymru CEREDIGION Diverse Cymru - ECODYFI Centre Wales - Machynlleth Girl Guiding Ceredigion Hafan Y Waun Care Home Home-Start Ceredigion HUTS (Helping us to survive) Ieuenctid Tysul Youth Centre In Sight / Mewn Golwg - Llandysul a Phont Tyweli Ymlaen Cyf Llandysul Family Centre Clwb Clonc Llandysul Public Hall Neuadd Tysul Hall Llanfair Clydogau Village Hall Longwood Community Woodland Maesglas Football Club Mes Bach - Little Acorns Child Care Mind Aberystwyth Motorcycle Action Group - Mount Zion Baptist Church Cardigan Multiple Sclerosis Society Ceredigion Branch - Neuadd Goffa Pontgarreg Memorial Hall Our Voice Our Choice OVOC - PACEY ( formerly National Child Minding Association - NCMA Pembrokeshire College - Penparcau Community Forum Yr Hwb Pentir Pumlumon Plant Dewi - Preseli Rural Transport Association Ras Gwyl Dewi RAY Ceredigion Shared Earth Trust SHINE Cymru Small World Theatre SNAP Cymru CAVO Social Farms & Gardens - St Michael`s Church - Eglwys St Mihangel (Aberystwyth) Strata Florida Trust The Cribyn Recreation Field Club The Iron Room (Eglwys Fach) The Royal Commission on the Ancient and Historical Monuments of Wales The Stroke Association - Caerphilly The Wildlife Trust of South & West Wales Transition Llambed Development Trust Treeflights Versus Arthritis - Wales Environment Link - Aberystwyth Wales Wild Land Foundation West Wales Action for Mental Health WWAMH - West Wales Domestic Abuse Service Ltd West Wales Rivers Trust Ystwyth Community Transport Group - Llanbedr Pont Steffan Lampeter Town Council Membership List: April 2021 **102** **CAVO** **Impact Report 2020-2021** ## Digital Tools InfoEngine is a free online directory of third sector community services. Volunteering Wales is a digital portal that supports volunteer recruitment and placement for those wanting to volunteer and organisations that want to find volunteers. The portal also provides additional functions such as logging hours and email update of opportunities. Funding Wales, a free online Funding search tool, developed for community and voluntary groups in Wales. Search through database containing hundreds of grants, awards and other forms of financial assistance from a variety of sources. Whether you’re new to the third sector or want to take your skills to the next level, Third Sector Support Wales Knowledge Hub free resources are designed to help you stay informed, improve your knowledge and connect with others. Connect Ceredigion has been created to bring communities and individuals together – a place where you can offer or request help to / from your neighbours and the wider community. There is no buying or selling here, just people helping people. www.ceredigion.volunteering-wales.net www.funding.cymru www.cavo.org.uk www.infoengine.cymru www.thirdsectorsupport.wales www.connectceredigion.org.uk **11** CAVO Bryndulais 67 Bridge Street Lampeter Ceredigion SA48 7AB 01570 423 232 gen@cavo.org.uk www.cavo.org.uk Opening Times: Monday to Friday 9.30-4.00 CAVO wish to thank the wide range of funders that support our work across Ceredigion, including Welsh Government, Ceredigion County Council and the Hywel Dda University Health Board. CAVO is a Registered Charity (1061364) & Company Limited by Guarantee (33323924) REGISTERED COMPANY NUMBER: 03323924 (England and Wales) REGISTERED CHARITY NUMBER: 1061364 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Bevan Buckland LLP Chartered Accountants & Statutory Auditors 45 High Street Haverfordwest Pembrokeshire SA612BP CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Pago Report of the Trustees 1 to 7 Report of the Independent Auditors 8 to 11 Statement of Finan¢ial Activltles 12 Statement of Flnanclal Posltlon 13 Staternont of Cash Flows 14 Notes to the Statement of Cash Flows 15 Notes to the Financlal Statements 16 to 34 Detailed Statement of Flnanclal Actlvltles 35 to 36 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISA TIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 The trustees who are also directors of the charity for the purposes of the Companies Act 2008. present their report with the financial statements of the charity for the year ended 31 Mar¢h 2021. The Iruslees have adopted the provisions of AGcounling and Reporting by Charities.. Slalement of Recommended Pracli¢e applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Ob}e¢tives and alms CAVO'S objects are to promote all or any charitsble Purposes for the benefit of the community in Wales. with particular preference for the county of Ceredigion. CAVO aims to promote. support and empower voluntsry community a¢tion in Ceredi9ion by,. Providing support, information, advice and training,. Recruiting volunteers and encouraging good practice in volunteering- Developing and supporting new initiatives lo meet needs.. En¢ouraging groups to work together., Share the concerns and aspirations of the third sector with others. Ensurlng our work dellvers our aim CAVO'S Business Plan is delivered by an annual Work Plan which is developed annually by trustees and staff lo ensure that our future activities are in-1Sne with our aim as a Charity. Progress is reported tts the CAVO Board al every meeting, monitored by CAVO staff quartedy with a 6 rnonlhly staff and trustee review Financial budget reports and future funding opportunit￿$ are presented at trustee meetings to discuss and agree areas of future development. The Chief Executive and the Finance and Business Operations Manager attend all Board meeting. along wlh members of the CAVO Team lo periodically present project progress. Board Members are allocated 5peciflc acl'vity areas to encourage Irusleeldireclors to have a greater insight and understanding of specific areas of CAVO service delivery Our customer and staff survey system continuously monitor the quality of the service we provide and the needs of the sector locally. Findings presented lo the Board and shared wllh staff. Results are shared in ourAnnual RepDrt. Page 1 CYMDErrHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 OBJECTIVES AND ACTIVITIES Slgnlficant actlvitles Covid-19 had a significant impact on the way CAVO operated in the 2020121 accounting year. The office was closed and all staff worked from home and addillonal IT equipment was put in place lo allow communications to be possible. Meetings with staff. trustees, organlsalions and volunteers were undertaken on-line which proved an efficient method lo slay in contact wlh group members and continue to help voluntary organisalions in all aspects of CAVO'S remit. Inevitably, working pattems differed with no offlce contact, but daily onling staff meetings kept operational activities on track. All staff members rose to the ocGasion and del￿ered the nom)al high stsndard of work. Good Governance CAVO has a small but well established team of experienced staff to support groups to establish and manage projècts, and provide information on legal issues and new developments affecting the sector. Our work is delivered in collaboration with other expert organisalions where possible. A senior member of the team Is a licensed Trusted Charity Mark (PQASSOI mentor. CAVO chair a Ceredigion Public Services Board multi-ageney panel set up to advlsg and support the safe and proportionate reopening of community facilllies and the introduction of COVID safe activilles. A series of well attended infomiation session wer8 arranged to share latest guldance and address queries. Sustainable Fundlng The CAVO Team support Ihlrd sector groups lo access fundlng and develop fundraising initiatives, through the organisation of regular brlefings. fundraislng events and training to ensure that the sector has the right skills. information and direct access lo significant funders in Wales. CAVO also proactively encourage organisalions to use the Funding Wales portal lo search funding opportunities. which is a free service available on CAVO the website. CAVO staff have been influential in tho administrauon and allocation of key funds In Ceredigion including the Ceredlgion Youth Led Grants funded through Gwrvol, Inlegraled Care Fund (Caring Communities Innovation Fund), the Ceredigion Community Chest and the Rural Development Programme Cynnal y Cardi Local A¢tion Group. The Ceredlgion Caring Communities Grant Scheme was revised to distribute additional funding from Welsh Government and Comic Relief to support the Third Sector and communitses lo adapt and respond to COVID-1g. A Ceredigion COVID-19 Fundlng Brieflng Sheet was regularty updated and shared. Volunteerlng The Volunteering Cerediglon Team also promotes volunteering and provides information, advlce and support to help people choose the right volunteering opportunity and offer advice to organisalions on how to recruit, retain and support volunteers. The team prt>aclively encourages the use of the Volunteering Wal88 website to promote and search for volunteering opportunities in Ceredigion. In response lo COVID-19, CAVO supported the Hywel Dda Volunteering for Health Team to recnjit and screen suitable candidates for the Volunteer Car Park Marshal role al the Cardigan and Aberyswh mass vaccinallon cenlres. A series of Virtual Volunte8ring Fairs were arranged by the CAVO Team lo promote volunteering opportunities to tackle key areas including community transport. environmental opportunitie5. community support and digital skills. Page 2 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION ICEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 OBJECTIVES AND ACTIVITIES Engagement and Influence As the umbrella body for the third sector in Cerediglon, the team represent the voice of the sector on a number of key partnerships. fom and planning groups locally and regionally, including the Ceredigion Public Services Board and its Project Groups, along with the Wesl Wales Regional Partnership Boafd and its relevant workslreams. Cerediglon third sector fora and briefing sesslons are arranged lo ensure that the sector is infonned of developments and has an opportunity to engage in policy and seNice development. CAVO stsff have continued to support the Disabled People Forum whlch meets regularly to ensure that the needs and issues of those who are less able are brought to the attention of public service providers Local teams set up to CO•ordinate community response to COVID-19 {Facebook Groups. YFCS, Town and Cornmunity Councils, Churches, Chapels. etGI were supported and useful guidance, details of funding and scams related infomation. Z(x)m m8elings for Ioc81 community support organisers were arranged on a regular basis to share best practice and challenges and regular contact maintained through a closed Facebook Group A more detailed review of activities is availabl8 in a separate annual report presented at the Annual General Meeting. Collaboratlon CAVO, as the County Voluntary Council ICVCI for Ceredlgion, has a close working relationship wllh neighbouring CVCS and in September 2012 a Memorandum of Understanding was signed with counterparts in Cam)arthenshire, Pembrokeshire and Powys. CAVO are currently working ￿th colleagues from PAVS and CAVS to explore the polent121 of establishing a reglonal entity to further strengthen our collective support of the Third Sector and Volunteers in Wesl Wales. CAVO is also 8 part of Thlrd Sector Support Wales - a ne￿ork of support organlsalions for the whole of the thlrd sector in Wales, consisting of the nineteen County Voluntary Councils {CVCs) and the national SL¢PPOrt body, Wales Council for Voluntary Action IWCVAI. CAVO work across four pillars of activity- Volunteering., Good governance. Sustainable funding., Engagement and influeneing. to support the third sector and work with key partners across the public. business, research and funding sectors. We deliver our services through - Information and advice., Learning and development., - Networking and communication., Shaping, inffuencing and building the soclal capital and ￿3111enCe of the sector., Raising the profile of the sector. Publlc beneflt The trustees have 8 duly lo report on 'public benefit, by explaining the significant activities undertaken in order to Carry out the aims for the public benefit. and achievements measured against those aims. In addition, the trustees will be required lo confirm that they have had regard to the Charity Commission's guldance on public benefit. Page 3 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE Y&4R ENDED 31 MARCH 2021 ACHIEVEMENT AND PERFORMANCE Charitable activities A review of activities is available in a separate annual report, presented al the Annual General Meeting. FINANCIAL REVIEW Flnancial posltion The results of the charitable company are shown in the Statement of Finar¢ci81 Activities on page 11. UNRESTRICTED FUND 2021 2020 Nel Incomingl{oulgolngl reseNes (Before transfers and pension) 268,786 194,566) Nel incomingl{oulgoing} reserves {After transfer5 and pension) 196,813 (159.4911 Pension losses (included above) 169.000) {90,000) RESTRICTED FUND 2021 2020 Nel Incoming reserves {Before transfers) Net incoming reserves (After transfers) 225,391 152,779 228,364 127,704 Invgstment policy and obj¢ctlves The Iruslees, investment powers are governed by the Memorandum and Articles of Association. The tnJ8lees have a policy of keeping any surplus as liquid funds in hlgh interest bearing short-term deposits, which can be accessed readily. The trustees are of the opinion that the charitable company does not have sufflcienl reseNes al present to warrant investment in other forms. Reserves pollcy The trustees aim lo set asido reserves lo provide financlal slabilty and the means for the development of the charitable companys principal activity. Following Consideration of the major risks the charitable company faces, a three tier policy on resetves has been established. This wlll establish reserves lo meet short term changes, reserves lo enable planning for growth and long term reseNes lo redlfce the risks posed by large external changes in funding. The level of reseNes required under the new pollcy is regularly reviewed and the trustees feel that in light of the current financial climate il is prudent lo maintaln reserves al thelr current level. In addition the trtJslees do not feel that the pension reserve of £616,000 represents a designated fund, as it does not result in an immediate cash commitment. The trustees are currently contidenl that the ¢harilable company can meet contributions from projected future income. Page 4 CYMDEITHAS MUDIADAU GWIRFOODOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 FINANCIAL REVIEW Going concem There are no material uncertainties ebout the charitls ability to continue as a going concern provided that the pension provider does not seek lo recover the defined benefit pension deficit. The pension provider has confirmed that il intends lo fund the deficit wÉlh future conlrlbulions. The trustees are confident that the Charity can meet pension contributions from projected future income without signlficant impaot on its planned level of charitable adivities and commitments. Addilionol funding has been received from Welsh Govemmenl for 2020-21 to supplement exlsting Core funding and support the additional work that infrastructure bodies are having lo undertake lo adjust and respond lo COVID-19. FUTURE PLANS Details of future developments are available in a separate annual report, presented at the Annual General Me&ling. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The organisation is a charitable company limited by guarantee, incorporated on 25 February 1997 and registered as a charity on 18 March 1997. The company was established under o Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Recruitment and appointment of new trustegs Members of the board of trustees, who are directors for the purpose of company law and liuslees for the purpose of charity law, who served during the year and up lo the date of this report, are set out on page 5. The trustees are appointed by the members at the Annual General Meeting or otherwise appointed by tho trustees where there is a vacancy. One third of the Iruslees retire at each Annual General Meeting by rotallon. If willing to act, they can be reappointed. Prior lo each Annual General Meeting, member organisalions are encouraged lo nominate individuals for appoinlmenl. The Board may also appoint a person willing lo act as a Iruslee lo elther fill a vacancy or as an additional trustee. The board meets bl-monlhly. A full time chief executive, appointed by the trLESteos, manages the day to day operations of the charity- Inductlon and tralning of new trustees New trustees receive a comprehensive induction pack and have the benefit of an induction session to brief them on thelr legal obligations under charity and company law. the conlenl of which Includes the MemorandLJm and Articles of Association, the committee and decision making process and business plan. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of thelr role and a tralning session feedback fomi has been devised so that information gathered al events ¢an be passed on to all trustees. Rlsk management The trustees have conducted a review of the major risks to which the charilable company Is exposed and systems have beèn established to mitigate those risks and enable regular reports to be produced so that the necessary steps can be taken lo lessen those risks. Internal risks are mlnimised by the implementation of procedures for aulhorisalion of all transactions and projects and lo ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensu￿ that they still meet the needs of the charitable company. Page 5 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 REFERENCE AND ADMSNISTRATIVE DETAILS Reglstered Company number 03323924 (England and Wales) Reglstered Charity number 1061364 Reglstered office 8ryndulais 67 Bridge Street Lampeter Ceredigion SA48 7A8 Trustees J L Jones- CAVO Chair W J Morris - Treasurer A C Pratt- Vice Chair D Wilson-Lews Company Secretary H Lloyd Lubran Audltors Bevan Buckland LLP Chartered Accountants & ststutory Auditors 45 High Street Haverfordwesl Pembrokeshire SA6128P Bankers CAF Cash Limited PO Box 289 West Malling Kent ME194TA Scottish Widows 67 Morrison Street Edinburgh EH3 8YJ Virgin Money Jubilee House Gosforth Newcastle upon Tyne NE34PL Page 6 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of Cymdeilhas Mudiadau Gwirfoddol Ceredigion I Ceredigion Association Of Voluntary Organis8tions for the purposes of company law) are responsible for prep3ring the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application ol reSoUr￿s, including the income and expenditure, of the charitable company for that period. In preparing those financial stzlements, the Iruslees are required to select suitable accounting policies and then apply Ihefft consi51enlly', obseNe the methods and principles in the Charity SORP., make judgements and eslimales that are reasonable and prudent.. prepare the financial slalemenls on the going concern basis unless it is inappropriate lo presume that the charitable comp2ny will continue in business. The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charitable company and to enable them lo ensure that the financial ststernenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In sts far as the Iruslees are aware- there is no relevant audit information of which the charitable company's auditors are unaware., and the trustees have taken all steps that they ought lo have taken to make themselves aware ol any relevant audit information and lo establish that the auditors are aware of that information. Approved by order of the board of trustees on . and signed on its behalf by.. W J Morris - Treasurer- Trustee Page 7 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Oplnlon We have audi18d the financial statements of Cymdeilhas Mudiadau Gwrfoddol Ceredigion I Ceredigion Association Of Voluntary Organisalions {Ihe 'charitable companVI for the year ended 31 March 2021 which comprise the Statement of Financial Aclivilies. the Slalement of Financial Position, the Statement of Cash Flows and notes lo the financial slalements, including a summary of significant accounting policies. The financSal reporting framework that has been applied in their preparation is applicable law and United Kingéom Accounting Standards (Un¢ted Kingdom Generally Accepted Accounlng Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the ftnancial statements: give a true and fair view of the stste of the charitaL)le company's affairs as at 31 March 2021 and of Ils incomlng resources and application of resources, including its income and expenditure. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Ac¢epted Accounting Practice including Financial Reporting Standard 102 'The Fin8nGial Reporting Standard applicable in the UK and Republic of Ireland.; and have been prepared in accordance wlth the requlremenls of the Companies Act 2006. Basls for opinion We conducted our audit In accordance with Inlemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in thè Auditors, responsibilities for the audit of the financlal slalemenls section of our report. We are independent of the charitable company in aecordance with the ethical requirements that are relevant to our aLtdit of the financial slalemenls in ahe UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilides in accordance with these requirements. We believe that the audll evidence we have obtsined Is sufficiènt and appropriate to prowde a basis for our opinion. Conclusions relating to golng concern In 8udiling the financial slatemenls, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements Is approprialg. Based on the work we have performed, we have not identified 2ny material uncertainties relating lo events or conditions that, Individually or collectively, may cast significant doubl on the charitable CoMpan￿S ability to continue as a going concem for a period of al least twelve months from when the financial Statements are aulhorised for issue. Our responsibilitles and the responsibilities of the trustees with respect to going concern are described in the relevant sed(ons of this report. Othor Infomiation The Iruslees are responslble for the other infomalion. The other information comprises the information Included in the Annual Report, other than the financial statements and our Report of the Independent Auditor5 Ihereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion Ihereon. In connection with our audll of the financial stalemenls, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or olherwse appears lo be materially misstated. If we identify SLJch material inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives rise lo a material misslatemenl in the financial statements themselves. If, based on the work we have performed. we conelude that there is a material misstalemenl of this other information, we are required to report that fact. We have nothing lo report in this regard. Page 8 REPORT OF THE INDEPENDENT AUDITORS TO THE MEM8ERS OF CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Oplnlons on other matters prescrlbed by th8 Companles Act 2006 In our opinion, based on the work undertaken In the course of the audit: the information given in the Report of the Trustees for the financlal year for which the financial slalements are prepared is consistent with the financlal statements,. and the Report of the Trustees has been preparèd In accordance with applicable legal requirements. Matters on whlch we arè requlred to report by gxception In the light of the knowledge and understanding of the charitable company and Its environment obtained in the ourse of the audit, we have not Identified material misslalemenls in the Report of the Tnjstees. We have nolhlng to report in respect of the following matters where the Companies Act 2006 requlres ug to report lo you if, in our opinion.. adequate accounting records have not been kept or relums adequate for our audit have not beèn received from branches not visited by us,. or the finallcial ststements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the infomiation and explanations we require for our audit. or the trustees were not entitled to take advantage of the small wmpanies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responslblllties of trustees As explained more fully in the Statement of Trustees, Responsiblllties, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparallon of the financial slalemenls and for being satisfied that they give a true and fair vlew. and for such internal control as the trustees determine is necessary to enable the preparation of financial slalemenls that are free from rnalerlal misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable companys ability to continue as a going concern, disclosing, as applicable. rnatters related to going concern and using the go￿n9 con￿rn basis of accounting unless the trustees either intend lo Ilquidate the charitable company or to cease operations. or have no realistic alternative but lo do so. Page 9 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Our responsibllitiès for the audit of the flnan¢ial statements Our objecllves are to obtain reasonable assurance about whether the financial statements as a whole are free fTom material mlsstatemenl, whether due lo fraud or error, and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted In accordance with ISAS IUK} wll always delect a matertal misslatemenl when it exists. i5slatemenls can arise from fraud or error and are considered material if, individually or in the aggregat9, they could reasonably be expected lo irbfluence the economic declsions of users taken on the basis of these financial stalemenls. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misstatements in respect of irregularities. Including fraud. The extent to which our procedures are capable of detecting irregularitles, including fraud is detailgd below.. Our approach to identrfwng and assesslng the risks of material misstatement in respect of Irregularities, including fraud and non-compliance with laws and regulations, was as follows.. we identified the laws and regulations applicable to the company through discussions with directors and other management. we focused on specific laws and regulatiorss which we consldered may have a direct malerÉal effect on the financial statements or the operations of the company. we assessed the extent of compllance with the laws and regulations identified above through making enqulries of management and inspecting legal correspondence.. and identified laws and regulations were communicated within the audll team regulaTly and the team remained alert to instances of non compliance through the audit. we assessed the susceptibility of the companls financlal statements to material misslatemenL including obtsining an understanding of how fraud might occur, by.. To address the risk of fraud through management bias and override of conlrols, we: performed analytical procedu￿5 to identify any unusual or unexpected relationship5. In response to the risk of irregulari11os and non-compliance wth law5 and regulations, we designed procedures which included. but were not limited to . agreeing financial statement disclosures to underlwng supporting documentation: * reading the minutes of meetings of those charged with governance. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il Is that we would become aware of non-compliance. Auditing standards also limit the audit pro￿dure requlred to identify non-compliance with laws and regulations lo enquiry of the dlTectors and other management and the inspection of regulatory and legal correspondence. if any. Material misstatements that arise due to fraud can be harder to delecl than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's web511e at www.frc.org.uklauditorsresponsibilities. Thls description forms part of our Report of the Independenl Auditors. Page 10 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Usè of our report This report is made solely lo the charitable companls members, as a body, in accordance wlh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the charitable companls members those matters we are required to state to them in an auditors, report and for no other pu￿OSe. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable Company and the charitable companys members as a body, for our audit work, for this report, or for the opinions we have fomied. Aun Evans (Senior Statutory Auditor) for and on behalf of Bevan Bu¢kland LLP Chartered Accountants & Statutory Auditors 45 High Street Haverfordwesl Pembrokeshire SA612BP q-C2 _￿?1... Date: ........... Page 11 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 Total funds 2020 Total funds Unrestrlcted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Charltable actlvlties Grants receivable 522.046 667,798 1.189,844 706,914 Investment income Other income 736 12,249 736 66,402 1,175 61,428 54.153 Total 535,031 721,951 1,256.982 769,517 EXPENDITURE ON Charltable activitles Charitable activity Grants payable 266.245 435,976 60,584 702.221 60,584 664,454 46,850 Total 266,245 496,560 762,805 711,304 NET INCOME 268,786 225,391 494.177 58,213 Transfers between funds 15 12,973) 2.973 other recognlsed galnsl{losses) Actuarial galnsll105ses) on defined benefit SGhemes 169,0001 169,0001 190,0001 Net movement In funds 196,813 228,364 425.177 131.7871 RECONCILIATION OF FUNDS Total funds brought forward {574,651} 628,876 54,225 86.012 TOTAL FUNDS CARRIED FORWARD (377,8381 857,240 479,402 54,225 The notes fotrn part of Ihe5e financlal statements Page 12 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS STATEMENT OF FINANCIAL POSITION 31 MARCH 2021 2021 Total funds 2020 Totsl funds Unrestricted Restricted fLinds funds Notes FIXED ASSETS Tangible assets 11 5.408 354,592 360.000 362,500 CURRENT ASSETS Debtors Cash at bank 12 24,613 497,894 44,682 518,411 69,295 1.016.305 252,908 306,857 522,507 563,093 1,085.600 559,765 CREDITORS Amounts falling due within one year 13 (23,753) 160,4451 184,1g81 191,040} NET CURRENT ASSETS 498,754 502,648 1 001,402 468,725 TOTAL ASSETS LESS CURRENT LIABILITIES 504,162 857,240 1,361,402 831.225 PENSION LIABILITY 16 1882,000} 1882,0001 1777.0001 NET ASSETSI{LIABILITIESI 377.8381 857,240 479,402 54,225 FUNDS Unrestricted funds Restricted funds 15 (377,8381 1574.6511 857,240 628,876 TOTAL FUNDS 479,402 54,225 rhese financial slaternents have been prepared in accordance with the provisions applicable lo charitsble companies subject to the srnall companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ..g.I.i.a,i.a.t.. .............. and were signed on its behalf by.. J L Jones- CAVO Chair- Trustee The note5 form part of these financial 51atemenls Page 13 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION ICEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Notes Cash flows from operatlng activities Cash generated from operations 708,712 (77,839) Nel cash provided byl{used inl operating activities 708,712 (77,8391 Cash flows from Snvestlng activities Purchase of tangible fixed assets Interest recelved 12,311) 1.175 736 Nel cash provided byllused in) investing actIv￿tieS 736 (1,136) Changa in cash and cash equivalents n the reporting period Cash and cash equlvalents at the beginning of the reporting period 709,448 (78,9751 306,857 385,832 Cash and cash equlvalents at the end of the reportlng period 1,016,305 306.857 Th8 notes fom) part of these financial ststementS Page 14 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION ICEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 RECONCILIATION OF NET INCOMETO NET CASH FLOW FROM OPERATING ACTIVITIES 2021 2020 Net Income for the reporting perSod las per the Statement of Financlal Actlvitiesl Adjustments for: Depreelation charges Interest received Decreasellincreasel in debtors {Decrease)lincrease in creditors Difference between pension charge and cash contributions 494,177 58,213 2,500 (736) 183,613 {6,842) 36,000 4,811 {1,175} 1222,658} 11,970 71.000 Net cash provlded byl(used In) operatlons 708,712 177,8391 ANALYSIS OF CHANGES IN NET FUNDS Al 1.4.20 Cash flow Al 31.3.21 Net cash Cash at bank 306,857 709,448 1,016,305 306,857 709,448 1.016.305 Total 306,857 709,448 1.016.305 The noles form part of these financlal statements Page 15 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES Basls of preparing the flnanclal statements The financial statements of the charitable company, which 15 a public benefit entity under FRS 102, have been prepared In accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Pracllce applicable to charities preparlng their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} {effeclive 1 January 20191,, Financial Reporting Standard 102 'The Financl81 Reporting Standard applicable in the UK and Republic of Ireland, ancl the Companies Act 2006. The financial slalements have been prepared under the historical cost convention. Income Al income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, it is probable that the Income will be received and the amount can be measured reliably. Grants recelvablo Grants receivable. Including grants foi the purchase of fixed assets, are recognised In fvll in the Statement of Financial Activities in the year in which they are receivable. Deferred income and payments received in advanco represent amounts received for future periods and are released lo incomlng resources in the period for which they are received. Capital grants are treated as restricted funds and are released lo general funds by equal annual inslalments on the same basis as the depreciation charge applicable to the asset con¢erned. Investment Income Investrnenl income represents bank deposit interest received and is recognised when receivable. Other Income All other income is included when rec8ivable. Expendlture Liabilities are recognised as expenditure as soon as there 15 a legal or constructive obligallon committing the charity lo that expenditure. it Is probable that 8 transfer of economic beneffls wll be required in settlement and the amount of the obligation can b8 measured rellably. Expenditure is accounted for on an accruals basis and ha5 been classSfied under headings that aggregate all cost related to the category. Where costs cannot be directly attributed lo particular headings they have been allocated to activilles on a basis consistent with the use of resources. Grants payable are recognlsed in the Slalemenl of Financial Activities when payable. Allocatlon and apportlonment of co$ts The cost of overall direction and administration on each activity, comprising the salary and overhead costs of the Gentral function, is apportioned to the activity on the basis of staff time or inc0￿e as relevant. Tanglble Ilxed as$•t5 Depreciation is provided at the following annual rates In order lo write off each asset over ils estimated seful life. Freehold property Fixtures and fittings Computer equipment 1 D/0 on cost al vary>ng rates on cost 100% oncost Page 16 conllnued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES. contlnued Tanglble flxed assets All fixed assets are held for continuing use in the charills activities and are recorded at cost at the lime of acquisition. Impairment reviews are carried out where necessary. The property Is held at deemed cost followng revaluation In 2015 from £275,709 to £370,000. Taxatlon The charity is exempl from corporation tax on its Gharitable activities. Fund accountlng Unrestricted funds are incoming resources receivable or generated for the objects of the charity wlhout further specified purposg and are available as general funds. Restrlcled funds can only be used for particular restricted PLJrposes within the objects of the charity. Restrictions arise when specifled by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these crlteria Is charged to the fund, together with a falr allocation of management and support costs. Designated funds are reslricled funds earmarked by the trustees for a particular purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial Statements. Pension costs and other post.rgtlrement benoflts The company operates a defined benefit scheme for its eligible employees as part of the Dyfed Loeal Authority Pension Fund. The assets of the scheme are held separately from those of the charity. Pension costs are assessecl in accordance ￿th actuarial advico and based on the most recent actuarlal valuatlon of the scheme, which was last carried out on 31 March 2016. These costs are accounted for on the basis of charging the cost of providing pensions over the period during which the charity benefits from employees servlces. The scheme was closed lo new employees In the year lo 31 March 2017. The pension cost for the year ending 31 March 2021 Is based on the result of the actuaria5 valuallon ol the scheme as al 31 March 2016 using the assumptions as per note 16. The conlributlons made In respect of the accounting period to 31 March 2021 amounted lo £44,710 {17.9°/o of the gross pay of eligible member employees), (2020.. £45,710). The agreed conlribullons until the next actuarial review of the scheme as at 31 March 2021 will be 17.90/0 per annum. In addition lump sum payments are being made annually lo be applied to the past service deficit. These payments are as follows.. 2017-2018 .' £13,900 2018-2019 '. £11,200 2019-2020 .' £11,600 2020-2021: £12,000 An analysis of the falr value of the assets of the scheme, movement in the scheme and rale of return is disclosed in note 16. The penslon scheme deficit is recognised In full on the balance sheet in accordance with FRS102. In addition the charity has opened a dofined contribution scheme for new employees, with NesL Contributions made in the year amounted to £1,30712020 £672). Page 17 nlinued... CYMDEITHAS MUDIADAU GIMRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2021 INVESTMENT INCOME 2021 2020 Deposit account interest 736 1,175 INCOME FROM CHARITABLE ACTIVITIES 2021 2020 Activity Grants recewable Grants 1,18g 844 706 914 Grants received, included in the above, are as follows.. 2021 2020 WCVA Infrastructure Core Grant WCVA Youth Led Grants Scheme Ceredigion CC Delivery of CVC Services Ceredigion CC Volunteer Recruitrnenl and Retention Ceredigion CC Disability Forum Hywel Dd8 UHB Integrated Care Fund Timebankinglcounty Led Preventions Ceredigion CC County Led Prevention ComiG Relief Grant Fund WCVA Active Inclusion Grant CCC Love Where You Live Grant WG Vol 21 Grant Transformation Hub Grant 288,648 7,933 12,114 21,284 3,000 506,564 32,000 151,012 9,050 12.114 21,284 3,000 465,454 30,000 15,000 26,591 47.887 4,950 200,000 1 189844 706.914 CHARITABLE ACTIVITIES COSTS Grant fvnding of activities (see note 5) Support costs (see note 61 2021 Direct Costs Totals Charitable activity Grants payable 687,393 14,828 702.221 60.584 60.584 687,393 60,584 762.805 Page 18 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnugd FOR THE YEAR ENDED 31 MARCH 2021 GRANTS PAYABLE 2021 2020 Grants payable 60,584 46.850 Th8 charitable company has in the year administered a grants schem6 funded through the WCVA Youth Led Grants Scheme. The charity Invites, assesses applications together with olh8r Interested parties and awards funding lo projects which fulfil the providers, scheme njles. In addition, il has also administered a grants scheme as part of the Integrated Care Fltnds Carfng Communlties Innovauon Fund. SUPPORT COSTS Management Charitable acllvlty 14,828 Support costs, included In th8 above. are as follows.. Managemgnt 2021 Charitable activity 2020 Total activities Trustees, expenses Insurance Professional fees Sundries Auditors remunerallon Other premises expenses Heat and light Governance Bank Gharges AGM 420 1,714 2,817 307 1,977 3,899 1.000 4.543 2,954 384 69 3,421 3.910 384 60 243 14.828 13,276 NET INCOMEIIEXPENDITURE) Net incomel(expenditurel is stsled afler chargingllcreditingl.. 2021 2020 Depreciation - owned assets 2,500 4,811 Page 19 continued... CYMDEITHAS MUDEADAU GWiRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- contlnuèd FOR THE YEAR ENDED 31 MARCH 2021 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. Trustees. expenses 2021 2020 Trustees, expenses 420 There were no transactions with Iruslees other than the payment of trustee's travelling expenses at the agreed rates. These amount to ni5 in the year12020'. £4201. All Iruslees were paid expenses in the year. STAFF COSTS 2021 2020 Wages and salaries Social security costs Other pension costs 227,683 17,274 83,635 205,136 16.518 117,382 328,592 339,036 The average monthly number of employees durfng the year was as follows., 2021 Direct charitable Management and administration 2020 No employees received emoluments in excess of £60,000. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Charltable activities Grants recewable 184,410 522,504 706,914 Investment income Other Income 1,175 25,328 1,175 81,428 36,100 Total 210,913 558,604 769,517 EXPENDITURE ON Charitable actlvltigs Charitable activity 305,245 359,209 664,454 Page 20 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 MARCH 2021 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - ¢ontlnu•d Unreslricled Restricted funds funds Total funds Grants payable 234 46,616 46,850 Total 305.479 405,825 711,304 NET INCOMEI{EXPENDITURE) 194,5661 152.779 58,213 Tran$fers betwe¢n funds 25,075 (25,075) other recognlsed galnsl{losses) Actuarial gainsl{lossesl on defined benefit schemes {90,000) (90,000} Net movement in funds 1159,491) 127,704 131,7871 RECONCILIATION OF FUNDS Total fund5 brought forward 1415,160) 501,172 86,012 TOTAL FUNDS CARRIED FORWARD {574,6511 628.876 54,225 11. TANGIBLE FIXED ASSETS Flxtures and fittings Freehold property Computer equipment Total$ COST At 1 April 2020 and 31 March 2021 370,000 67,966 8,856 446.822 DEPRECIATION At 1 April 2020 Charge for year 7,500 2,500 67,966 e,856 84,322 2,500 At 37 March 2021 10,000 67,966 8,856 86,822 NET BOOK VALUE At 31 March 2021 360,000 360,000 At 31 March 2020 362,500 362,500 Page 21 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade debtors Other debtors Prepayments and accrued Income 68,333 242.480 10.155 273 962 69,295 252,908 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade creditors Other creditors Accruals and deferred income 413 25,844 57.941 464 8,531 82,045 84.198 91,040 14. LEASING AGREEMENTS Minimum lease payments under non-cancellable operallng leases fall due as follows.. 2021 2020 Within one y8ar 1.795 1,795 Page 22 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS Nel movement in funds Transfers be￿een funds Al 31.3.21 At 1.4.20 Unrestrlcted funds General Fund Designated Funds Youth Volunteering Volunteer Centre WG Vol 21 1661.5651 86,914 91,783 (59,647) 17,086 2,045 37,543 1629,4291 104,000 {2,045} 137.543) 147,591 147,591 {574,651) 199,786 {2,9731 Restrlcted funds Property Fund Community Transport Development Investors in Carers Youth Led Grant Fund Disability Forum ICF Funding Revaluation Reserve Primary Care Screenlng Community Led Prevention BOrth￿reg8ron Ceredigion Timebanking Ne￿Ork Transformation Project WCVA Comic Relief Grant Fund WCVA Active Inclusion Grant Transformation Hub 1377.8381 270.301 7.028 4,596 1.038 1772) 228.248 94,291 11.500 12,500) (1,158) (1,3691 1135) 616 121.628 2.500 270,301 5,870 3,227 19031 156 349.876 94,291 11,500 5,957 6,689 5.957 20,775 3,335 13,858 36,425 41.825 14.086 2,115 13,858 36,425 41,825 1,220 628,876 225.391 2,973 857.240 TOTAL FUNDS 54,225 425.177 479,402 Page 23 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- conllnued N81 movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement losses in fund5 Unrestri¢ied fund5 General Fund Youth Volunteering Volunteer Centre WG Vol 21 313,747 (152.9641 12,045) 158.827) 152,409) {69,000} 91.783 12,045) 137.543) 147,591 21,284 200,000 535,031 Restricted funds Property Fund Community Transport Development Investors in Carers Youth Led Grant Fund Disability Forum ICF Funding Ceredigiori Timebanking Nefvjork Transformation Project WCVA Comic Relief Grant Fund WCVA Active Inclusion Grant Transformation Hub (266,2451 169,000) 199,786 12,500) 11,158) 11,369) (8,068) {2,3841 (384,9361 (17.914) {52,0381 (12,733) (11,462) (1,998} (2,500) {1.158} (1.3691 (1351 616 121,628 14.086 2,115 13,858 36.425 41,825 7.933 3,000 506.564 32,000 54,153 26,591 47,887 43.823 721,951 (496,560} 225,391 TOTAL FUNDS 1,256,982 (762.8051 (69,0001 425,177 Page 24 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- contlnued Comparatives for movement In funds Net movement in funds Transfers be￿een funds At 31.3.20 At 1.4.19 Unrestrlcted funds General Fund Designated Funds Youth Volunteering Volunteer Cenlre (491,443) 76,283 (140.087) {30,0351 10,631 2,087 42,392 1661.565} 86,914 (2,087) {42,392} 1415,1601 Restricted funds Property Fund Community Transport Development Investors in Carers Youth Led Grant Fund Disability ForLtm ICF Funding Revaluation ReseNe Primary Care Screening Community Led Prevention BorthlTregaron Ceredigion Tlmebanking Netwo Transformation Project 1184,5661 25,075 1574.651) 270,301 14,984 4.878 234 12,5001 {7,420) {282) 597 1772) 152,285 2,500 1536) 270,301 7,028 4.596 1,038 17721 228.248 94.291 11,500 207 93,886 94.291 11,500 {17,9231 5,957 5,141 5,957 6,689 6.965 3,906 {5,4171 (3,9061 501,172 152,779 (25.075) 628,876 TOTAL FUNDS 86,012 (31,787) 54,225 Page 25 eonlinued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- contlnued Comparative net movement in funds, included in the above are as follow5.. Incoming resouTce5 Resources expended Gains and Movement losse5 Sn funds Unrestrictgd funds General Fund Youth Volunteerfng Volunteer Centre 189,629 (239,716) 12,087) 163,676) (90,0001 1140,0871 {2,0871 142.3921 21,284 210,913 (305,479) Restricted funds Property Fund Community Transport Development Investors In Carers Youth Led Grant Fund Disability Forum ICF Funding Ceredigion Timebanking Network Transformation Project {90,000> {184.566) {2,5001 {7,4201 12821 18,4531 13.772) (328,169) (23,035) (32.194) 12,5001 {7,4201 {2821 597 (772) 152.285 e,965 3,906 9.050 3,000 480,454 30,000 36,100 558,604 1405,825) 152,779 TOTAL FUNDS 769.517 (711,3041 {90.0001 (31,7871 Page 26 ¢onlinued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- Gontlnued A current year 12 months and prior year 12 months combined position is as follows: Net Transfers movement be￿een in funds funds At 31.3.21 At 1.4.19 Unrestrl￿ed funds General Fund Designated Funds Youth Volunteering Volunteer Centre WG Vol 21 1491,443) 76,283 (48,304) 189,682) 27,717 4,132 79,935 (629,429) 104,000 14.132} 179,9351 147,591 747,591 Restricted funds Propety Fund Community Transport Development Investors in Carers Youth Led Grant Fund Dlsability Forum ICF Funding Revaluation Reserve Primary Care Screening CommL¢nily Led Prevention Borthrrregaron Ceredigion Timebanking Ne￿Ork Transformation Project WCVA Comic Relief Granl Fund WCVA Active Inclusion Grant Transformation Hub 1415,160) 15,220 22,102 1377,8381 270,301 14,984 4,878 234 (5.000) 18,578) 11,651 } 462 11561 273.913 5,000 15361 270.301 5,870 3,227 {6961 156 (17,923} 93,886 94.291 11,500 349,876 94,291 11,500 5,957 5,141 5,957 20.775 3.335 13.858 36.425 41,825 21,051 6.021 13,858 36.425 41,825 {5.417} (2,6861 501,172 378,170 122,1021 857,240 TOTAL FUNDS 86.012 393,390 479,402 Page 27 onlinued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows.. Incoming resources Resources expended Gains and losse5 Movement In funds Unrestricted fund$ General Fund Youth Volunteering Volunteer Centre WG Vol 21 503,376 1392,680) 14.1321 (122,503) 152.409) (159.000) (48.304} (4,1321 179,9351 147,591 42,568 200,000 745.944 Restrlcted funds Propety Fund Community Transport Development Investors in Carers Youth Led Grant Fund Disability Forum ICF Funding Ceredigion Timebanking Network Tr8nsformalion Project CVA Comic Relief Grant Fund WCVA Aclve Incluslon Grant Transformation Hub 1571,7241 1159,000) 15,220 {5,000) (8,578) 11,6511 (16,5211 (6.1561 (713,105) {40,949} {84,2321 112,7331 (11,462) (1,998} (5,000) 18,578) (1,6511 462 1156) 273,913 21,051 6,021 13,858 36.425 41,825 16,983 6.000 987,018 62,000 90.253 26,591 47,887 43.823 1,280,555 <902,385) 378,170 TOTAL FUNDS 2.026,499 {1,474.109) {159,000) 393,390 DESIGNATED RESERVES 2020 Movement 2021 Designated staff contingency lund Designated office premises fund Designated IT development fund 42,914 28,000 16,000 17,086 60,000 28.000 16,000 86,914 17,086 104,000 Page 28 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- contlnued RESERVES 2020 Movement 2021 Restricted funds Revaluation reserve 534.585 94,291 228.364 762,949 94,291 Total restricted funds 628,876 228,364 857,240 General reserves Pension fund Designated fund 115.435 1777.0001 86,914 284.727 1105.000) 17,086 400.162 (882.0001 704,000 54.225 196.813 479,402 UNRESTRICTED RESERVES 2021 2020 Brought forward Incoming resources Outgoing resources Transfer FRS102 pension cost Transfer from designated 115,435 535,031 {266.245) {2,973) 36,000 {17,086) 124,557 210,913 (305,4791 25.075 71,000 110,6311 General res¢Tves 400,162 115,435 PURPOSE OF RESTRICTED FUNDS Infomatlon Servlce Thls fund finances the provision of an infomialion service for the placing and matching of volunteers th volunteer vacancies.. provides support 2nd information services and promotes good practice. In the year transfers as disclosed on pag8 15 have been made lo general fund5 to meel core costs of supporttng volunteering. Propgrty Fund ThSs fund relates to the purchase of office premises for the charity in 2001, whlch was funded by the National Lottery Community Fund with a grant of £284,414. This fund is retained as a restricted fund under the terms of the grant, which slate that the building cannot be sold for 80 years from the date of the grant. In the opinion of the Iruslees, il is reasonable lo sel thls fund against the pension liability for the purpose of calculating free reserves, as in the very remote likelihood of the pension liability ¢ry51allising.11 should prove posslble lo realise the property fund to meet it. Community Transport Development Thls project relates to the establishment of a Community Tran5POrt Officer post for Ceredigion with Ihe specific purpose of assessing transport needs in rural communities and supporting community groups. Funding has been received from Ceredigion County Council from the Welsh Government's Regional Transport Services Grant. Page 29 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- ¢ontlnuod Gwirvol Youth Volunteering This is a Welsh Govemmenl funding source lo employ a part-lime Young Volunteerfng Advisor within Ceredigion lo speciflcally largel volunteer development amongst 16-25 year olds. Youth Led Grants Fund This fund relates to grants received and paid out to projects In respect of the Youth Led Gran15 Scheme. Investors In Carers This is Welsh Govemmenl Carers Transitional Plan fundlng through the Hywel Dda Unlversily Health Board to provlde support and facilitslion for Prfmary and Secondary Care settings lo participate and achieve the Investors in Carers Ilinc) Awards. County Led Prevention - Borth and Tregaron This is funding received lo understand, share and enhance what makes Borth and Tregaron resoureeful and resilient communities, building on service sustainability and improving access lo existing community services. Due to Covid 19 restrictions spending on this project has been deferred. Disabllity Forum This is funding from Ceredlglon County Council lo facilitalg the Cere(Jigion Disability Forum which meets regularly lo ensure the needs and issues of those who are less able are brought to th8 attention of public se*vice providers. Integrated Care Fund Admlnislered by the seven regional partnership boards established under the Social Servlce8 and Wellbeing (Wales) Act 2014, this fund helps health boards and partners lo work together lo support.. Frail and older people People with a learning disability Children with complex needs due lo disability or illness. The fund helps support older people lo malnlain their independence and remain at hom9, avoiding unnecessary admissions lo hospital or residential care and delays when someone is due lo be discharged from care. Tlm¢banklng Cerediglon Thls is funding from Hywel Dda Health Board Iceredigion County Led Prevention Team) to pllol a Ceredigion Timebanking network lo recognise and value the eonlribution ol indivicjuals and encourage more people to identify their strengths and build social nelworks through volunteering. Transformation Fund The West Wales Reglonal Partnership Board developed a regional response lo the Welsh Governmenfs 'A Healthier Wales, programme. Within priority action 4 is a programme called Creating Connections for All. CAVO Is a key delivery partner in this programme which focuses on th8 development of a regional set of activities to incenlivise active citizenship, based on an Intergeneralional approach that fosters and nurtures connections lo alleviate loneliness and isolatlon prevalent in many of our communities. PURPOSE OF DESIGNATED FUNDS Designated Staff Contlngency Fund Thls fund has been designated lo meet potential future costs such as redundancy and unexpected increases in the rale of pension conlribulions. Page 30 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- ¢ontlnugd Deslgnated Offlce Premlses and Fumlturg Replacement Fund This fund has been designated by the Iruslees lo assist Kqlh the refurbishment. r8novalion and maintenance of the office bullding and replacement of furnlture and equipmenl as required. Deslgnated IT Development Fund This fund has been designated to enable CAVO to malntain IT systems at the consislenl hlgh standard required to SL¢PPOrt the charills aclivilies. 16. EMPLOYEE BENEFIT OBLIGATIONS Deflned beneflt scheme The company operates a defined benef￿ scheme in the UK. A full actuarial valuation was earri8d out at 31 March 2019. The amounts recognised in the Slalemenl of Financial Activities are as follows: Defined benefit pension plans 2021 2020 Current seNits cost Net interest from nel defined benefit asseuliabilily Past service cost Gainsllosses on settlements and curtailments Adminislralion expenses 61,000 66.000 19,000 52,000 74,000 1,000 1.000 81,000 193,000 Actual return on plan assets 358.000 161,000 Page 31 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2021 16. EMPLOYEE BENEFIT OBLIGATIONS- contlnued Changes In the present value of the defined benefit obligation are as follows: Defined benefit pension plans 2021 2020 Opening defined benefit obligation Current service cost Contributions by scheme participants Interest cost Lossl{gain) on assumpllons Benefits paid 2,105,000 61,000 11,000 51,000 396,000 {31.000) 2.073,000 66.000 12,000 52,000 (74,0001 (24.0001 2,593.000 2,105.000 Changes in the fair value of scheme assets are as follows.. Defined benefit pensSon plans 2021 2020 Opening falr value of scheme assets Administration expenses Contributions by employer Contributions by scheme participants Benefits paid Inleresl on plan asset5 Remeasuremenls (assets) 1,328,000 {1,0001 45,000 11,000 131,0001 32.000 327.000 1,457,000 11,0001 46,000 12,000 (24.0001 37,000 1199.000) 1,711,000 1,328,000 The amount5 recognised In other recognised gains and losses are as follows: Defined benefit pension plans 2021 2020 Actuarlal gainsl(losses> (69,000) 190,0001 169.000) {90.0001 Page 32 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 16. EMPLOYEE BENEFIT OBLIGATIONS- contlnued The Major categories of scheme assets as amoijnts of total scheme assets are a5 follows.. Defined benefit penslon plans 2021 2020 Equities Government bonds Other bonds PToperty Cash liquidity Other 1,266,000 972,OOD 52.000 134,000 163,000 7,000 198,000 190,000 21.000 36,000 1.711.000 1,328,000 Principal acluarlal assumptions at the Statement of Finanoial Position dale (expressed as weighted averages)- 2021 Discount rale Future salary Increases Future pension increases CPI inflation 2020 2.40 10 3.60V 2.209/0 2.10/0 4.20Yo The contributtons made in respect of the accounting pertod to 31 March 2021 amounted to £46.328 {2020 £45,710) of which nothlng was outstsnding at the year end. Defined contrlbutlon schemg The charity has opened a defined contribution scheme for new gmployee5. The assets of the scheme are held in a Nest independently managed scheme. The costs charged represent contributions made during the year and amounted to £1,307 (2020 £672). Nothlng was outslanding al 31 March 2021 12020 £nill. 17. CONTINGENT LIABILITIES There were no contingent liabilities a5 al 31 March 2021 (2020.. Nill. Page 33 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREOIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2021 18. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2021. 19. MEMBERS. LIABILITY Members of the charitable company guarantee lo contribute an amount nol exceeding £1 to thg assets of the company in the event of a wlnding up. Page 34 CYMDEITHAS MUDIADAU GIVIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 Total funds 2020 Total funds Unrestricted funds Restricted funds INCOME AND ENDOWMENTS Investment Income Deposll account interest 736 736 1,175 Charltable activltles Grants 522,046 667,798 1,189.844 706,914 other Income Income generallon 12,249 54,153 66,402 61,428 Total Incoming resources 535,031 721,951 1,256,982 769,517 EXPENDITURE Charltable actlvities Wages Social security Penslons Telephone Postage, printing, stationery Travel and subsistence Training Outreach costs Subscriptions and affiliations Advertislng and promotlon Computer maintenance and software Integrated Care Fund Rusgel Youth Led Grant Timebanking project Welsh Gov 21 grant expenditure Transformation project Freehold property Fixtures and fittings Computer equipment Grants to institutions 161,819 14,979 82,328 4.714 1,232 44 255 12 1,115 2.031 4.789 65,864 2,295 1.307 227.683 17,274 83,635 4,714 1,232 205,136 16,518 117.382 4,655 2,460 8,379 1,025 214 1,202 1.258 4,106 280,302 231 3,499 255 12 1,115 2,110 4,789 323.300 79 323,300 700 700 16,351 1,679 2,500 16,351 1,679 2,500 2,500 1,503 808 46.850 60,584 60.584 289.669 458,308 747,977 698,028 Support ¢osts Management Trustees, expenses Carried forward 420 420 This page does not form part of the slalutory financial statements Page 35 CYMDEITHAS MUDIADAU GWtRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 Total nds 2020 Total funds Unrestricled funds Restricted funds Managem9nt Brought fO￿ard Insurance Professional fees Sundries Auditors remuneration other premises expenses Heat and light Governance Bank charges AGM 420 1,714 2,817 307 1,977 3,899 1,977 3,899 1,000 768 2,954 384 69 1,000 4,543 2,954 3.775 3,421 3,910 69 60 243 11,053 3,775 14.828 13,276 Total resource5 expended 300,722 462,083 762,805 711,304 Net income 234,309 259.868 494,177 58,213 This p8ge does not form part of the statutory financial statemenls Page 36 REGISTERED COMPANY NUMBER: 03323924 (England and Wales) REGISTERED CHARITY NUMBER: 1061364 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Bevan Buckland LLP Chartered Accountants & Statutory Auditors 45 High Street Haverfordwest Pembrokeshire SA612BP CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Pago Report of the Trustees 1 to 7 Report of the Independent Auditors 8 to 11 Statement of Finan¢ial Activltles 12 Statement of Flnanclal Posltlon 13 Staternont of Cash Flows 14 Notes to the Statement of Cash Flows 15 Notes to the Financlal Statements 16 to 34 Detailed Statement of Flnanclal Actlvltles 35 to 36 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISA TIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 The trustees who are also directors of the charity for the purposes of the Companies Act 2008. present their report with the financial statements of the charity for the year ended 31 Mar¢h 2021. The Iruslees have adopted the provisions of AGcounling and Reporting by Charities.. Slalement of Recommended Pracli¢e applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Ob}e¢tives and alms CAVO'S objects are to promote all or any charitsble Purposes for the benefit of the community in Wales. with particular preference for the county of Ceredigion. CAVO aims to promote. support and empower voluntsry community a¢tion in Ceredi9ion by,. Providing support, information, advice and training,. Recruiting volunteers and encouraging good practice in volunteering- Developing and supporting new initiatives lo meet needs.. En¢ouraging groups to work together., Share the concerns and aspirations of the third sector with others. Ensurlng our work dellvers our aim CAVO'S Business Plan is delivered by an annual Work Plan which is developed annually by trustees and staff lo ensure that our future activities are in-1Sne with our aim as a Charity. Progress is reported tts the CAVO Board al every meeting, monitored by CAVO staff quartedy with a 6 rnonlhly staff and trustee review Financial budget reports and future funding opportunit￿$ are presented at trustee meetings to discuss and agree areas of future development. The Chief Executive and the Finance and Business Operations Manager attend all Board meeting. along wlh members of the CAVO Team lo periodically present project progress. Board Members are allocated 5peciflc acl'vity areas to encourage Irusleeldireclors to have a greater insight and understanding of specific areas of CAVO service delivery Our customer and staff survey system continuously monitor the quality of the service we provide and the needs of the sector locally. Findings presented lo the Board and shared wllh staff. Results are shared in ourAnnual RepDrt. Page 1 CYMDErrHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 OBJECTIVES AND ACTIVITIES Slgnlficant actlvitles Covid-19 had a significant impact on the way CAVO operated in the 2020121 accounting year. The office was closed and all staff worked from home and addillonal IT equipment was put in place lo allow communications to be possible. Meetings with staff. trustees, organlsalions and volunteers were undertaken on-line which proved an efficient method lo slay in contact wlh group members and continue to help voluntary organisalions in all aspects of CAVO'S remit. Inevitably, working pattems differed with no offlce contact, but daily onling staff meetings kept operational activities on track. All staff members rose to the ocGasion and del￿ered the nom)al high stsndard of work. Good Governance CAVO has a small but well established team of experienced staff to support groups to establish and manage projècts, and provide information on legal issues and new developments affecting the sector. Our work is delivered in collaboration with other expert organisalions where possible. A senior member of the team Is a licensed Trusted Charity Mark (PQASSOI mentor. CAVO chair a Ceredigion Public Services Board multi-ageney panel set up to advlsg and support the safe and proportionate reopening of community facilllies and the introduction of COVID safe activilles. A series of well attended infomiation session wer8 arranged to share latest guldance and address queries. Sustainable Fundlng The CAVO Team support Ihlrd sector groups lo access fundlng and develop fundraising initiatives, through the organisation of regular brlefings. fundraislng events and training to ensure that the sector has the right skills. information and direct access lo significant funders in Wales. CAVO also proactively encourage organisalions to use the Funding Wales portal lo search funding opportunities. which is a free service available on CAVO the website. CAVO staff have been influential in tho administrauon and allocation of key funds In Ceredigion including the Ceredlgion Youth Led Grants funded through Gwrvol, Inlegraled Care Fund (Caring Communities Innovation Fund), the Ceredigion Community Chest and the Rural Development Programme Cynnal y Cardi Local A¢tion Group. The Ceredlgion Caring Communities Grant Scheme was revised to distribute additional funding from Welsh Government and Comic Relief to support the Third Sector and communitses lo adapt and respond to COVID-1g. A Ceredigion COVID-19 Fundlng Brieflng Sheet was regularty updated and shared. Volunteerlng The Volunteering Cerediglon Team also promotes volunteering and provides information, advlce and support to help people choose the right volunteering opportunity and offer advice to organisalions on how to recruit, retain and support volunteers. The team prt>aclively encourages the use of the Volunteering Wal88 website to promote and search for volunteering opportunities in Ceredigion. In response lo COVID-19, CAVO supported the Hywel Dda Volunteering for Health Team to recnjit and screen suitable candidates for the Volunteer Car Park Marshal role al the Cardigan and Aberyswh mass vaccinallon cenlres. A series of Virtual Volunte8ring Fairs were arranged by the CAVO Team lo promote volunteering opportunities to tackle key areas including community transport. environmental opportunitie5. community support and digital skills. Page 2 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION ICEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 OBJECTIVES AND ACTIVITIES Engagement and Influence As the umbrella body for the third sector in Cerediglon, the team represent the voice of the sector on a number of key partnerships. fom and planning groups locally and regionally, including the Ceredigion Public Services Board and its Project Groups, along with the Wesl Wales Regional Partnership Boafd and its relevant workslreams. Cerediglon third sector fora and briefing sesslons are arranged lo ensure that the sector is infonned of developments and has an opportunity to engage in policy and seNice development. CAVO stsff have continued to support the Disabled People Forum whlch meets regularly to ensure that the needs and issues of those who are less able are brought to the attention of public service providers Local teams set up to CO•ordinate community response to COVID-19 {Facebook Groups. YFCS, Town and Cornmunity Councils, Churches, Chapels. etGI were supported and useful guidance, details of funding and scams related infomation. Z(x)m m8elings for Ioc81 community support organisers were arranged on a regular basis to share best practice and challenges and regular contact maintained through a closed Facebook Group A more detailed review of activities is availabl8 in a separate annual report presented at the Annual General Meeting. Collaboratlon CAVO, as the County Voluntary Council ICVCI for Ceredlgion, has a close working relationship wllh neighbouring CVCS and in September 2012 a Memorandum of Understanding was signed with counterparts in Cam)arthenshire, Pembrokeshire and Powys. CAVO are currently working ￿th colleagues from PAVS and CAVS to explore the polent121 of establishing a reglonal entity to further strengthen our collective support of the Third Sector and Volunteers in Wesl Wales. CAVO is also 8 part of Thlrd Sector Support Wales - a ne￿ork of support organlsalions for the whole of the thlrd sector in Wales, consisting of the nineteen County Voluntary Councils {CVCs) and the national SL¢PPOrt body, Wales Council for Voluntary Action IWCVAI. CAVO work across four pillars of activity- Volunteering., Good governance. Sustainable funding., Engagement and influeneing. to support the third sector and work with key partners across the public. business, research and funding sectors. We deliver our services through - Information and advice., Learning and development., - Networking and communication., Shaping, inffuencing and building the soclal capital and ￿3111enCe of the sector., Raising the profile of the sector. Publlc beneflt The trustees have 8 duly lo report on 'public benefit, by explaining the significant activities undertaken in order to Carry out the aims for the public benefit. and achievements measured against those aims. In addition, the trustees will be required lo confirm that they have had regard to the Charity Commission's guldance on public benefit. Page 3 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE Y&4R ENDED 31 MARCH 2021 ACHIEVEMENT AND PERFORMANCE Charitable activities A review of activities is available in a separate annual report, presented al the Annual General Meeting. FINANCIAL REVIEW Flnancial posltion The results of the charitable company are shown in the Statement of Finar¢ci81 Activities on page 11. UNRESTRICTED FUND 2021 2020 Nel Incomingl{oulgolngl reseNes (Before transfers and pension) 268,786 194,566) Nel incomingl{oulgoing} reserves {After transfer5 and pension) 196,813 (159.4911 Pension losses (included above) 169.000) {90,000) RESTRICTED FUND 2021 2020 Nel Incoming reserves {Before transfers) Net incoming reserves (After transfers) 225,391 152,779 228,364 127,704 Invgstment policy and obj¢ctlves The Iruslees, investment powers are governed by the Memorandum and Articles of Association. The tnJ8lees have a policy of keeping any surplus as liquid funds in hlgh interest bearing short-term deposits, which can be accessed readily. The trustees are of the opinion that the charitable company does not have sufflcienl reseNes al present to warrant investment in other forms. Reserves pollcy The trustees aim lo set asido reserves lo provide financlal slabilty and the means for the development of the charitable companys principal activity. Following Consideration of the major risks the charitable company faces, a three tier policy on resetves has been established. This wlll establish reserves lo meet short term changes, reserves lo enable planning for growth and long term reseNes lo redlfce the risks posed by large external changes in funding. The level of reseNes required under the new pollcy is regularly reviewed and the trustees feel that in light of the current financial climate il is prudent lo maintaln reserves al thelr current level. In addition the trtJslees do not feel that the pension reserve of £616,000 represents a designated fund, as it does not result in an immediate cash commitment. The trustees are currently contidenl that the ¢harilable company can meet contributions from projected future income. Page 4 CYMDEITHAS MUDIADAU GWIRFOODOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 FINANCIAL REVIEW Going concem There are no material uncertainties ebout the charitls ability to continue as a going concern provided that the pension provider does not seek lo recover the defined benefit pension deficit. The pension provider has confirmed that il intends lo fund the deficit wÉlh future conlrlbulions. The trustees are confident that the Charity can meet pension contributions from projected future income without signlficant impaot on its planned level of charitable adivities and commitments. Addilionol funding has been received from Welsh Govemmenl for 2020-21 to supplement exlsting Core funding and support the additional work that infrastructure bodies are having lo undertake lo adjust and respond lo COVID-19. FUTURE PLANS Details of future developments are available in a separate annual report, presented at the Annual General Me&ling. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The organisation is a charitable company limited by guarantee, incorporated on 25 February 1997 and registered as a charity on 18 March 1997. The company was established under o Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Recruitment and appointment of new trustegs Members of the board of trustees, who are directors for the purpose of company law and liuslees for the purpose of charity law, who served during the year and up lo the date of this report, are set out on page 5. The trustees are appointed by the members at the Annual General Meeting or otherwise appointed by tho trustees where there is a vacancy. One third of the Iruslees retire at each Annual General Meeting by rotallon. If willing to act, they can be reappointed. Prior lo each Annual General Meeting, member organisalions are encouraged lo nominate individuals for appoinlmenl. The Board may also appoint a person willing lo act as a Iruslee lo elther fill a vacancy or as an additional trustee. The board meets bl-monlhly. A full time chief executive, appointed by the trLESteos, manages the day to day operations of the charity- Inductlon and tralning of new trustees New trustees receive a comprehensive induction pack and have the benefit of an induction session to brief them on thelr legal obligations under charity and company law. the conlenl of which Includes the MemorandLJm and Articles of Association, the committee and decision making process and business plan. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of thelr role and a tralning session feedback fomi has been devised so that information gathered al events ¢an be passed on to all trustees. Rlsk management The trustees have conducted a review of the major risks to which the charilable company Is exposed and systems have beèn established to mitigate those risks and enable regular reports to be produced so that the necessary steps can be taken lo lessen those risks. Internal risks are mlnimised by the implementation of procedures for aulhorisalion of all transactions and projects and lo ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensu￿ that they still meet the needs of the charitable company. Page 5 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 REFERENCE AND ADMSNISTRATIVE DETAILS Reglstered Company number 03323924 (England and Wales) Reglstered Charity number 1061364 Reglstered office 8ryndulais 67 Bridge Street Lampeter Ceredigion SA48 7A8 Trustees J L Jones- CAVO Chair W J Morris - Treasurer A C Pratt- Vice Chair D Wilson-Lews Company Secretary H Lloyd Lubran Audltors Bevan Buckland LLP Chartered Accountants & ststutory Auditors 45 High Street Haverfordwesl Pembrokeshire SA6128P Bankers CAF Cash Limited PO Box 289 West Malling Kent ME194TA Scottish Widows 67 Morrison Street Edinburgh EH3 8YJ Virgin Money Jubilee House Gosforth Newcastle upon Tyne NE34PL Page 6 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of Cymdeilhas Mudiadau Gwirfoddol Ceredigion I Ceredigion Association Of Voluntary Organis8tions for the purposes of company law) are responsible for prep3ring the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application ol reSoUr￿s, including the income and expenditure, of the charitable company for that period. In preparing those financial stzlements, the Iruslees are required to select suitable accounting policies and then apply Ihefft consi51enlly', obseNe the methods and principles in the Charity SORP., make judgements and eslimales that are reasonable and prudent.. prepare the financial slalemenls on the going concern basis unless it is inappropriate lo presume that the charitable comp2ny will continue in business. The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charitable company and to enable them lo ensure that the financial ststernenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In sts far as the Iruslees are aware- there is no relevant audit information of which the charitable company's auditors are unaware., and the trustees have taken all steps that they ought lo have taken to make themselves aware ol any relevant audit information and lo establish that the auditors are aware of that information. Approved by order of the board of trustees on . and signed on its behalf by.. W J Morris - Treasurer- Trustee Page 7 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Oplnlon We have audi18d the financial statements of Cymdeilhas Mudiadau Gwrfoddol Ceredigion I Ceredigion Association Of Voluntary Organisalions {Ihe 'charitable companVI for the year ended 31 March 2021 which comprise the Statement of Financial Aclivilies. the Slalement of Financial Position, the Statement of Cash Flows and notes lo the financial slalements, including a summary of significant accounting policies. The financSal reporting framework that has been applied in their preparation is applicable law and United Kingéom Accounting Standards (Un¢ted Kingdom Generally Accepted Accounlng Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the ftnancial statements: give a true and fair view of the stste of the charitaL)le company's affairs as at 31 March 2021 and of Ils incomlng resources and application of resources, including its income and expenditure. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Ac¢epted Accounting Practice including Financial Reporting Standard 102 'The Fin8nGial Reporting Standard applicable in the UK and Republic of Ireland.; and have been prepared in accordance wlth the requlremenls of the Companies Act 2006. Basls for opinion We conducted our audit In accordance with Inlemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in thè Auditors, responsibilities for the audit of the financlal slalemenls section of our report. We are independent of the charitable company in aecordance with the ethical requirements that are relevant to our aLtdit of the financial slalemenls in ahe UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilides in accordance with these requirements. We believe that the audll evidence we have obtsined Is sufficiènt and appropriate to prowde a basis for our opinion. Conclusions relating to golng concern In 8udiling the financial slatemenls, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements Is approprialg. Based on the work we have performed, we have not identified 2ny material uncertainties relating lo events or conditions that, Individually or collectively, may cast significant doubl on the charitable CoMpan￿S ability to continue as a going concem for a period of al least twelve months from when the financial Statements are aulhorised for issue. Our responsibilitles and the responsibilities of the trustees with respect to going concern are described in the relevant sed(ons of this report. Othor Infomiation The Iruslees are responslble for the other infomalion. The other information comprises the information Included in the Annual Report, other than the financial statements and our Report of the Independent Auditor5 Ihereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion Ihereon. In connection with our audll of the financial stalemenls, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or olherwse appears lo be materially misstated. If we identify SLJch material inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives rise lo a material misslatemenl in the financial statements themselves. If, based on the work we have performed. we conelude that there is a material misstalemenl of this other information, we are required to report that fact. We have nothing lo report in this regard. Page 8 REPORT OF THE INDEPENDENT AUDITORS TO THE MEM8ERS OF CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Oplnlons on other matters prescrlbed by th8 Companles Act 2006 In our opinion, based on the work undertaken In the course of the audit: the information given in the Report of the Trustees for the financlal year for which the financial slalements are prepared is consistent with the financlal statements,. and the Report of the Trustees has been preparèd In accordance with applicable legal requirements. Matters on whlch we arè requlred to report by gxception In the light of the knowledge and understanding of the charitable company and Its environment obtained in the ourse of the audit, we have not Identified material misslalemenls in the Report of the Tnjstees. We have nolhlng to report in respect of the following matters where the Companies Act 2006 requlres ug to report lo you if, in our opinion.. adequate accounting records have not been kept or relums adequate for our audit have not beèn received from branches not visited by us,. or the finallcial ststements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the infomiation and explanations we require for our audit. or the trustees were not entitled to take advantage of the small wmpanies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responslblllties of trustees As explained more fully in the Statement of Trustees, Responsiblllties, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparallon of the financial slalemenls and for being satisfied that they give a true and fair vlew. and for such internal control as the trustees determine is necessary to enable the preparation of financial slalemenls that are free from rnalerlal misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable companys ability to continue as a going concern, disclosing, as applicable. rnatters related to going concern and using the go￿n9 con￿rn basis of accounting unless the trustees either intend lo Ilquidate the charitable company or to cease operations. or have no realistic alternative but lo do so. Page 9 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Our responsibllitiès for the audit of the flnan¢ial statements Our objecllves are to obtain reasonable assurance about whether the financial statements as a whole are free fTom material mlsstatemenl, whether due lo fraud or error, and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted In accordance with ISAS IUK} wll always delect a matertal misslatemenl when it exists. i5slatemenls can arise from fraud or error and are considered material if, individually or in the aggregat9, they could reasonably be expected lo irbfluence the economic declsions of users taken on the basis of these financial stalemenls. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misstatements in respect of irregularities. Including fraud. The extent to which our procedures are capable of detecting irregularitles, including fraud is detailgd below.. Our approach to identrfwng and assesslng the risks of material misstatement in respect of Irregularities, including fraud and non-compliance with laws and regulations, was as follows.. we identified the laws and regulations applicable to the company through discussions with directors and other management. we focused on specific laws and regulatiorss which we consldered may have a direct malerÉal effect on the financial statements or the operations of the company. we assessed the extent of compllance with the laws and regulations identified above through making enqulries of management and inspecting legal correspondence.. and identified laws and regulations were communicated within the audll team regulaTly and the team remained alert to instances of non compliance through the audit. we assessed the susceptibility of the companls financlal statements to material misslatemenL including obtsining an understanding of how fraud might occur, by.. To address the risk of fraud through management bias and override of conlrols, we: performed analytical procedu￿5 to identify any unusual or unexpected relationship5. In response to the risk of irregulari11os and non-compliance wth law5 and regulations, we designed procedures which included. but were not limited to . agreeing financial statement disclosures to underlwng supporting documentation: * reading the minutes of meetings of those charged with governance. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il Is that we would become aware of non-compliance. Auditing standards also limit the audit pro￿dure requlred to identify non-compliance with laws and regulations lo enquiry of the dlTectors and other management and the inspection of regulatory and legal correspondence. if any. Material misstatements that arise due to fraud can be harder to delecl than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's web511e at www.frc.org.uklauditorsresponsibilities. Thls description forms part of our Report of the Independenl Auditors. Page 10 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS Usè of our report This report is made solely lo the charitable companls members, as a body, in accordance wlh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the charitable companls members those matters we are required to state to them in an auditors, report and for no other pu￿OSe. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable Company and the charitable companys members as a body, for our audit work, for this report, or for the opinions we have fomied. Aun Evans (Senior Statutory Auditor) for and on behalf of Bevan Bu¢kland LLP Chartered Accountants & Statutory Auditors 45 High Street Haverfordwesl Pembrokeshire SA612BP q-C2 _￿?1... Date: ........... Page 11 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 Total funds 2020 Total funds Unrestrlcted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Charltable actlvlties Grants receivable 522.046 667,798 1.189,844 706,914 Investment income Other income 736 12,249 736 66,402 1,175 61,428 54.153 Total 535,031 721,951 1,256.982 769,517 EXPENDITURE ON Charltable activitles Charitable activity Grants payable 266.245 435,976 60,584 702.221 60,584 664,454 46,850 Total 266,245 496,560 762,805 711,304 NET INCOME 268,786 225,391 494.177 58,213 Transfers between funds 15 12,973) 2.973 other recognlsed galnsl{losses) Actuarial galnsll105ses) on defined benefit SGhemes 169,0001 169,0001 190,0001 Net movement In funds 196,813 228,364 425.177 131.7871 RECONCILIATION OF FUNDS Total funds brought forward {574,651} 628,876 54,225 86.012 TOTAL FUNDS CARRIED FORWARD (377,8381 857,240 479,402 54,225 The notes fotrn part of Ihe5e financlal statements Page 12 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS STATEMENT OF FINANCIAL POSITION 31 MARCH 2021 2021 Total funds 2020 Totsl funds Unrestricted Restricted fLinds funds Notes FIXED ASSETS Tangible assets 11 5.408 354,592 360.000 362,500 CURRENT ASSETS Debtors Cash at bank 12 24,613 497,894 44,682 518,411 69,295 1.016.305 252,908 306,857 522,507 563,093 1,085.600 559,765 CREDITORS Amounts falling due within one year 13 (23,753) 160,4451 184,1g81 191,040} NET CURRENT ASSETS 498,754 502,648 1 001,402 468,725 TOTAL ASSETS LESS CURRENT LIABILITIES 504,162 857,240 1,361,402 831.225 PENSION LIABILITY 16 1882,000} 1882,0001 1777.0001 NET ASSETSI{LIABILITIESI 377.8381 857,240 479,402 54,225 FUNDS Unrestricted funds Restricted funds 15 (377,8381 1574.6511 857,240 628,876 TOTAL FUNDS 479,402 54,225 rhese financial slaternents have been prepared in accordance with the provisions applicable lo charitsble companies subject to the srnall companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ..g.I.i.a,i.a.t.. .............. and were signed on its behalf by.. J L Jones- CAVO Chair- Trustee The note5 form part of these financial 51atemenls Page 13 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION ICEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Notes Cash flows from operatlng activities Cash generated from operations 708,712 (77,839) Nel cash provided byl{used inl operating activities 708,712 (77,8391 Cash flows from Snvestlng activities Purchase of tangible fixed assets Interest recelved 12,311) 1.175 736 Nel cash provided byllused in) investing actIv￿tieS 736 (1,136) Changa in cash and cash equivalents n the reporting period Cash and cash equlvalents at the beginning of the reporting period 709,448 (78,9751 306,857 385,832 Cash and cash equlvalents at the end of the reportlng period 1,016,305 306.857 Th8 notes fom) part of these financial ststementS Page 14 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION ICEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 RECONCILIATION OF NET INCOMETO NET CASH FLOW FROM OPERATING ACTIVITIES 2021 2020 Net Income for the reporting perSod las per the Statement of Financlal Actlvitiesl Adjustments for: Depreelation charges Interest received Decreasellincreasel in debtors {Decrease)lincrease in creditors Difference between pension charge and cash contributions 494,177 58,213 2,500 (736) 183,613 {6,842) 36,000 4,811 {1,175} 1222,658} 11,970 71.000 Net cash provlded byl(used In) operatlons 708,712 177,8391 ANALYSIS OF CHANGES IN NET FUNDS Al 1.4.20 Cash flow Al 31.3.21 Net cash Cash at bank 306,857 709,448 1,016,305 306,857 709,448 1.016.305 Total 306,857 709,448 1.016.305 The noles form part of these financlal statements Page 15 CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES Basls of preparing the flnanclal statements The financial statements of the charitable company, which 15 a public benefit entity under FRS 102, have been prepared In accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Pracllce applicable to charities preparlng their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} {effeclive 1 January 20191,, Financial Reporting Standard 102 'The Financl81 Reporting Standard applicable in the UK and Republic of Ireland, ancl the Companies Act 2006. The financial slalements have been prepared under the historical cost convention. Income Al income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, it is probable that the Income will be received and the amount can be measured reliably. Grants recelvablo Grants receivable. Including grants foi the purchase of fixed assets, are recognised In fvll in the Statement of Financial Activities in the year in which they are receivable. Deferred income and payments received in advanco represent amounts received for future periods and are released lo incomlng resources in the period for which they are received. Capital grants are treated as restricted funds and are released lo general funds by equal annual inslalments on the same basis as the depreciation charge applicable to the asset con¢erned. Investment Income Investrnenl income represents bank deposit interest received and is recognised when receivable. Other Income All other income is included when rec8ivable. Expendlture Liabilities are recognised as expenditure as soon as there 15 a legal or constructive obligallon committing the charity lo that expenditure. it Is probable that 8 transfer of economic beneffls wll be required in settlement and the amount of the obligation can b8 measured rellably. Expenditure is accounted for on an accruals basis and ha5 been classSfied under headings that aggregate all cost related to the category. Where costs cannot be directly attributed lo particular headings they have been allocated to activilles on a basis consistent with the use of resources. Grants payable are recognlsed in the Slalemenl of Financial Activities when payable. Allocatlon and apportlonment of co$ts The cost of overall direction and administration on each activity, comprising the salary and overhead costs of the Gentral function, is apportioned to the activity on the basis of staff time or inc0￿e as relevant. Tanglble Ilxed as$•t5 Depreciation is provided at the following annual rates In order lo write off each asset over ils estimated seful life. Freehold property Fixtures and fittings Computer equipment 1 D/0 on cost al vary>ng rates on cost 100% oncost Page 16 conllnued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES. contlnued Tanglble flxed assets All fixed assets are held for continuing use in the charills activities and are recorded at cost at the lime of acquisition. Impairment reviews are carried out where necessary. The property Is held at deemed cost followng revaluation In 2015 from £275,709 to £370,000. Taxatlon The charity is exempl from corporation tax on its Gharitable activities. Fund accountlng Unrestricted funds are incoming resources receivable or generated for the objects of the charity wlhout further specified purposg and are available as general funds. Restrlcled funds can only be used for particular restricted PLJrposes within the objects of the charity. Restrictions arise when specifled by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these crlteria Is charged to the fund, together with a falr allocation of management and support costs. Designated funds are reslricled funds earmarked by the trustees for a particular purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial Statements. Pension costs and other post.rgtlrement benoflts The company operates a defined benefit scheme for its eligible employees as part of the Dyfed Loeal Authority Pension Fund. The assets of the scheme are held separately from those of the charity. Pension costs are assessecl in accordance ￿th actuarial advico and based on the most recent actuarlal valuatlon of the scheme, which was last carried out on 31 March 2016. These costs are accounted for on the basis of charging the cost of providing pensions over the period during which the charity benefits from employees servlces. The scheme was closed lo new employees In the year lo 31 March 2017. The pension cost for the year ending 31 March 2021 Is based on the result of the actuaria5 valuallon ol the scheme as al 31 March 2016 using the assumptions as per note 16. The conlributlons made In respect of the accounting period to 31 March 2021 amounted lo £44,710 {17.9°/o of the gross pay of eligible member employees), (2020.. £45,710). The agreed conlribullons until the next actuarial review of the scheme as at 31 March 2021 will be 17.90/0 per annum. In addition lump sum payments are being made annually lo be applied to the past service deficit. These payments are as follows.. 2017-2018 .' £13,900 2018-2019 '. £11,200 2019-2020 .' £11,600 2020-2021: £12,000 An analysis of the falr value of the assets of the scheme, movement in the scheme and rale of return is disclosed in note 16. The penslon scheme deficit is recognised In full on the balance sheet in accordance with FRS102. In addition the charity has opened a dofined contribution scheme for new employees, with NesL Contributions made in the year amounted to £1,30712020 £672). Page 17 nlinued... CYMDEITHAS MUDIADAU GIMRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2021 INVESTMENT INCOME 2021 2020 Deposit account interest 736 1,175 INCOME FROM CHARITABLE ACTIVITIES 2021 2020 Activity Grants recewable Grants 1,18g 844 706 914 Grants received, included in the above, are as follows.. 2021 2020 WCVA Infrastructure Core Grant WCVA Youth Led Grants Scheme Ceredigion CC Delivery of CVC Services Ceredigion CC Volunteer Recruitrnenl and Retention Ceredigion CC Disability Forum Hywel Dd8 UHB Integrated Care Fund Timebankinglcounty Led Preventions Ceredigion CC County Led Prevention ComiG Relief Grant Fund WCVA Active Inclusion Grant CCC Love Where You Live Grant WG Vol 21 Grant Transformation Hub Grant 288,648 7,933 12,114 21,284 3,000 506,564 32,000 151,012 9,050 12.114 21,284 3,000 465,454 30,000 15,000 26,591 47.887 4,950 200,000 1 189844 706.914 CHARITABLE ACTIVITIES COSTS Grant fvnding of activities (see note 5) Support costs (see note 61 2021 Direct Costs Totals Charitable activity Grants payable 687,393 14,828 702.221 60.584 60.584 687,393 60,584 762.805 Page 18 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnugd FOR THE YEAR ENDED 31 MARCH 2021 GRANTS PAYABLE 2021 2020 Grants payable 60,584 46.850 Th8 charitable company has in the year administered a grants schem6 funded through the WCVA Youth Led Grants Scheme. The charity Invites, assesses applications together with olh8r Interested parties and awards funding lo projects which fulfil the providers, scheme njles. In addition, il has also administered a grants scheme as part of the Integrated Care Fltnds Carfng Communlties Innovauon Fund. SUPPORT COSTS Management Charitable acllvlty 14,828 Support costs, included In th8 above. are as follows.. Managemgnt 2021 Charitable activity 2020 Total activities Trustees, expenses Insurance Professional fees Sundries Auditors remunerallon Other premises expenses Heat and light Governance Bank Gharges AGM 420 1,714 2,817 307 1,977 3,899 1.000 4.543 2,954 384 69 3,421 3.910 384 60 243 14.828 13,276 NET INCOMEIIEXPENDITURE) Net incomel(expenditurel is stsled afler chargingllcreditingl.. 2021 2020 Depreciation - owned assets 2,500 4,811 Page 19 continued... CYMDEITHAS MUDEADAU GWiRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- contlnuèd FOR THE YEAR ENDED 31 MARCH 2021 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. Trustees. expenses 2021 2020 Trustees, expenses 420 There were no transactions with Iruslees other than the payment of trustee's travelling expenses at the agreed rates. These amount to ni5 in the year12020'. £4201. All Iruslees were paid expenses in the year. STAFF COSTS 2021 2020 Wages and salaries Social security costs Other pension costs 227,683 17,274 83,635 205,136 16.518 117,382 328,592 339,036 The average monthly number of employees durfng the year was as follows., 2021 Direct charitable Management and administration 2020 No employees received emoluments in excess of £60,000. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Charltable activities Grants recewable 184,410 522,504 706,914 Investment income Other Income 1,175 25,328 1,175 81,428 36,100 Total 210,913 558,604 769,517 EXPENDITURE ON Charitable actlvltigs Charitable activity 305,245 359,209 664,454 Page 20 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 MARCH 2021 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - ¢ontlnu•d Unreslricled Restricted funds funds Total funds Grants payable 234 46,616 46,850 Total 305.479 405,825 711,304 NET INCOMEI{EXPENDITURE) 194,5661 152.779 58,213 Tran$fers betwe¢n funds 25,075 (25,075) other recognlsed galnsl{losses) Actuarial gainsl{lossesl on defined benefit schemes {90,000) (90,000} Net movement in funds 1159,491) 127,704 131,7871 RECONCILIATION OF FUNDS Total fund5 brought forward 1415,160) 501,172 86,012 TOTAL FUNDS CARRIED FORWARD {574,6511 628.876 54,225 11. TANGIBLE FIXED ASSETS Flxtures and fittings Freehold property Computer equipment Total$ COST At 1 April 2020 and 31 March 2021 370,000 67,966 8,856 446.822 DEPRECIATION At 1 April 2020 Charge for year 7,500 2,500 67,966 e,856 84,322 2,500 At 37 March 2021 10,000 67,966 8,856 86,822 NET BOOK VALUE At 31 March 2021 360,000 360,000 At 31 March 2020 362,500 362,500 Page 21 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade debtors Other debtors Prepayments and accrued Income 68,333 242.480 10.155 273 962 69,295 252,908 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade creditors Other creditors Accruals and deferred income 413 25,844 57.941 464 8,531 82,045 84.198 91,040 14. LEASING AGREEMENTS Minimum lease payments under non-cancellable operallng leases fall due as follows.. 2021 2020 Within one y8ar 1.795 1,795 Page 22 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS Nel movement in funds Transfers be￿een funds Al 31.3.21 At 1.4.20 Unrestrlcted funds General Fund Designated Funds Youth Volunteering Volunteer Centre WG Vol 21 1661.5651 86,914 91,783 (59,647) 17,086 2,045 37,543 1629,4291 104,000 {2,045} 137.543) 147,591 147,591 {574,651) 199,786 {2,9731 Restrlcted funds Property Fund Community Transport Development Investors in Carers Youth Led Grant Fund Disability Forum ICF Funding Revaluation Reserve Primary Care Screenlng Community Led Prevention BOrth￿reg8ron Ceredigion Timebanking Ne￿Ork Transformation Project WCVA Comic Relief Grant Fund WCVA Active Inclusion Grant Transformation Hub 1377.8381 270.301 7.028 4,596 1.038 1772) 228.248 94,291 11.500 12,500) (1,158) (1,3691 1135) 616 121.628 2.500 270,301 5,870 3,227 19031 156 349.876 94,291 11,500 5,957 6,689 5.957 20,775 3,335 13,858 36,425 41.825 14.086 2,115 13,858 36,425 41,825 1,220 628,876 225.391 2,973 857.240 TOTAL FUNDS 54,225 425.177 479,402 Page 23 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- conllnued N81 movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement losses in fund5 Unrestri¢ied fund5 General Fund Youth Volunteering Volunteer Centre WG Vol 21 313,747 (152.9641 12,045) 158.827) 152,409) {69,000} 91.783 12,045) 137.543) 147,591 21,284 200,000 535,031 Restricted funds Property Fund Community Transport Development Investors in Carers Youth Led Grant Fund Disability Forum ICF Funding Ceredigiori Timebanking Nefvjork Transformation Project WCVA Comic Relief Grant Fund WCVA Active Inclusion Grant Transformation Hub (266,2451 169,000) 199,786 12,500) 11,158) 11,369) (8,068) {2,3841 (384,9361 (17.914) {52,0381 (12,733) (11,462) (1,998} (2,500) {1.158} (1.3691 (1351 616 121,628 14.086 2,115 13,858 36.425 41,825 7.933 3,000 506.564 32,000 54,153 26,591 47,887 43.823 721,951 (496,560} 225,391 TOTAL FUNDS 1,256,982 (762.8051 (69,0001 425,177 Page 24 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- contlnued Comparatives for movement In funds Net movement in funds Transfers be￿een funds At 31.3.20 At 1.4.19 Unrestrlcted funds General Fund Designated Funds Youth Volunteering Volunteer Cenlre (491,443) 76,283 (140.087) {30,0351 10,631 2,087 42,392 1661.565} 86,914 (2,087) {42,392} 1415,1601 Restricted funds Property Fund Community Transport Development Investors in Carers Youth Led Grant Fund Disability ForLtm ICF Funding Revaluation ReseNe Primary Care Screening Community Led Prevention BorthlTregaron Ceredigion Tlmebanking Netwo Transformation Project 1184,5661 25,075 1574.651) 270,301 14,984 4.878 234 12,5001 {7,420) {282) 597 1772) 152,285 2,500 1536) 270,301 7,028 4.596 1,038 17721 228.248 94.291 11,500 207 93,886 94.291 11,500 {17,9231 5,957 5,141 5,957 6,689 6.965 3,906 {5,4171 (3,9061 501,172 152,779 (25.075) 628,876 TOTAL FUNDS 86,012 (31,787) 54,225 Page 25 eonlinued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- contlnued Comparative net movement in funds, included in the above are as follow5.. Incoming resouTce5 Resources expended Gains and Movement losse5 Sn funds Unrestrictgd funds General Fund Youth Volunteerfng Volunteer Centre 189,629 (239,716) 12,087) 163,676) (90,0001 1140,0871 {2,0871 142.3921 21,284 210,913 (305,479) Restricted funds Property Fund Community Transport Development Investors In Carers Youth Led Grant Fund Disability Forum ICF Funding Ceredigion Timebanking Network Transformation Project {90,000> {184.566) {2,5001 {7,4201 12821 18,4531 13.772) (328,169) (23,035) (32.194) 12,5001 {7,4201 {2821 597 (772) 152.285 e,965 3,906 9.050 3,000 480,454 30,000 36,100 558,604 1405,825) 152,779 TOTAL FUNDS 769.517 (711,3041 {90.0001 (31,7871 Page 26 ¢onlinued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- Gontlnued A current year 12 months and prior year 12 months combined position is as follows: Net Transfers movement be￿een in funds funds At 31.3.21 At 1.4.19 Unrestrl￿ed funds General Fund Designated Funds Youth Volunteering Volunteer Centre WG Vol 21 1491,443) 76,283 (48,304) 189,682) 27,717 4,132 79,935 (629,429) 104,000 14.132} 179,9351 147,591 747,591 Restricted funds Propety Fund Community Transport Development Investors in Carers Youth Led Grant Fund Dlsability Forum ICF Funding Revaluation Reserve Primary Care Screening CommL¢nily Led Prevention Borthrrregaron Ceredigion Timebanking Ne￿Ork Transformation Project WCVA Comic Relief Granl Fund WCVA Active Inclusion Grant Transformation Hub 1415,160) 15,220 22,102 1377,8381 270,301 14,984 4,878 234 (5.000) 18,578) 11,651 } 462 11561 273.913 5,000 15361 270.301 5,870 3,227 {6961 156 (17,923} 93,886 94.291 11,500 349,876 94,291 11,500 5,957 5,141 5,957 20.775 3.335 13.858 36.425 41,825 21,051 6.021 13,858 36.425 41,825 {5.417} (2,6861 501,172 378,170 122,1021 857,240 TOTAL FUNDS 86.012 393,390 479,402 Page 27 onlinued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows.. Incoming resources Resources expended Gains and losse5 Movement In funds Unrestricted fund$ General Fund Youth Volunteering Volunteer Centre WG Vol 21 503,376 1392,680) 14.1321 (122,503) 152.409) (159.000) (48.304} (4,1321 179,9351 147,591 42,568 200,000 745.944 Restrlcted funds Propety Fund Community Transport Development Investors in Carers Youth Led Grant Fund Disability Forum ICF Funding Ceredigion Timebanking Network Tr8nsformalion Project CVA Comic Relief Grant Fund WCVA Aclve Incluslon Grant Transformation Hub 1571,7241 1159,000) 15,220 {5,000) (8,578) 11,6511 (16,5211 (6.1561 (713,105) {40,949} {84,2321 112,7331 (11,462) (1,998} (5,000) 18,578) (1,6511 462 1156) 273,913 21,051 6,021 13,858 36.425 41,825 16,983 6.000 987,018 62,000 90.253 26,591 47,887 43.823 1,280,555 <902,385) 378,170 TOTAL FUNDS 2.026,499 {1,474.109) {159,000) 393,390 DESIGNATED RESERVES 2020 Movement 2021 Designated staff contingency lund Designated office premises fund Designated IT development fund 42,914 28,000 16,000 17,086 60,000 28.000 16,000 86,914 17,086 104,000 Page 28 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- contlnued RESERVES 2020 Movement 2021 Restricted funds Revaluation reserve 534.585 94,291 228.364 762,949 94,291 Total restricted funds 628,876 228,364 857,240 General reserves Pension fund Designated fund 115.435 1777.0001 86,914 284.727 1105.000) 17,086 400.162 (882.0001 704,000 54.225 196.813 479,402 UNRESTRICTED RESERVES 2021 2020 Brought forward Incoming resources Outgoing resources Transfer FRS102 pension cost Transfer from designated 115,435 535,031 {266.245) {2,973) 36,000 {17,086) 124,557 210,913 (305,4791 25.075 71,000 110,6311 General res¢Tves 400,162 115,435 PURPOSE OF RESTRICTED FUNDS Infomatlon Servlce Thls fund finances the provision of an infomialion service for the placing and matching of volunteers th volunteer vacancies.. provides support 2nd information services and promotes good practice. In the year transfers as disclosed on pag8 15 have been made lo general fund5 to meel core costs of supporttng volunteering. Propgrty Fund ThSs fund relates to the purchase of office premises for the charity in 2001, whlch was funded by the National Lottery Community Fund with a grant of £284,414. This fund is retained as a restricted fund under the terms of the grant, which slate that the building cannot be sold for 80 years from the date of the grant. In the opinion of the Iruslees, il is reasonable lo sel thls fund against the pension liability for the purpose of calculating free reserves, as in the very remote likelihood of the pension liability ¢ry51allising.11 should prove posslble lo realise the property fund to meet it. Community Transport Development Thls project relates to the establishment of a Community Tran5POrt Officer post for Ceredigion with Ihe specific purpose of assessing transport needs in rural communities and supporting community groups. Funding has been received from Ceredigion County Council from the Welsh Government's Regional Transport Services Grant. Page 29 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- ¢ontlnuod Gwirvol Youth Volunteering This is a Welsh Govemmenl funding source lo employ a part-lime Young Volunteerfng Advisor within Ceredigion lo speciflcally largel volunteer development amongst 16-25 year olds. Youth Led Grants Fund This fund relates to grants received and paid out to projects In respect of the Youth Led Gran15 Scheme. Investors In Carers This is Welsh Govemmenl Carers Transitional Plan fundlng through the Hywel Dda Unlversily Health Board to provlde support and facilitslion for Prfmary and Secondary Care settings lo participate and achieve the Investors in Carers Ilinc) Awards. County Led Prevention - Borth and Tregaron This is funding received lo understand, share and enhance what makes Borth and Tregaron resoureeful and resilient communities, building on service sustainability and improving access lo existing community services. Due to Covid 19 restrictions spending on this project has been deferred. Disabllity Forum This is funding from Ceredlglon County Council lo facilitalg the Cere(Jigion Disability Forum which meets regularly lo ensure the needs and issues of those who are less able are brought to th8 attention of public se*vice providers. Integrated Care Fund Admlnislered by the seven regional partnership boards established under the Social Servlce8 and Wellbeing (Wales) Act 2014, this fund helps health boards and partners lo work together lo support.. Frail and older people People with a learning disability Children with complex needs due lo disability or illness. The fund helps support older people lo malnlain their independence and remain at hom9, avoiding unnecessary admissions lo hospital or residential care and delays when someone is due lo be discharged from care. Tlm¢banklng Cerediglon Thls is funding from Hywel Dda Health Board Iceredigion County Led Prevention Team) to pllol a Ceredigion Timebanking network lo recognise and value the eonlribution ol indivicjuals and encourage more people to identify their strengths and build social nelworks through volunteering. Transformation Fund The West Wales Reglonal Partnership Board developed a regional response lo the Welsh Governmenfs 'A Healthier Wales, programme. Within priority action 4 is a programme called Creating Connections for All. CAVO Is a key delivery partner in this programme which focuses on th8 development of a regional set of activities to incenlivise active citizenship, based on an Intergeneralional approach that fosters and nurtures connections lo alleviate loneliness and isolatlon prevalent in many of our communities. PURPOSE OF DESIGNATED FUNDS Designated Staff Contlngency Fund Thls fund has been designated lo meet potential future costs such as redundancy and unexpected increases in the rale of pension conlribulions. Page 30 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 15. MOVEMENT IN FUNDS- ¢ontlnugd Deslgnated Offlce Premlses and Fumlturg Replacement Fund This fund has been designated by the Iruslees lo assist Kqlh the refurbishment. r8novalion and maintenance of the office bullding and replacement of furnlture and equipmenl as required. Deslgnated IT Development Fund This fund has been designated to enable CAVO to malntain IT systems at the consislenl hlgh standard required to SL¢PPOrt the charills aclivilies. 16. EMPLOYEE BENEFIT OBLIGATIONS Deflned beneflt scheme The company operates a defined benef￿ scheme in the UK. A full actuarial valuation was earri8d out at 31 March 2019. The amounts recognised in the Slalemenl of Financial Activities are as follows: Defined benefit pension plans 2021 2020 Current seNits cost Net interest from nel defined benefit asseuliabilily Past service cost Gainsllosses on settlements and curtailments Adminislralion expenses 61,000 66.000 19,000 52,000 74,000 1,000 1.000 81,000 193,000 Actual return on plan assets 358.000 161,000 Page 31 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2021 16. EMPLOYEE BENEFIT OBLIGATIONS- contlnued Changes In the present value of the defined benefit obligation are as follows: Defined benefit pension plans 2021 2020 Opening defined benefit obligation Current service cost Contributions by scheme participants Interest cost Lossl{gain) on assumpllons Benefits paid 2,105,000 61,000 11,000 51,000 396,000 {31.000) 2.073,000 66.000 12,000 52,000 (74,0001 (24.0001 2,593.000 2,105.000 Changes in the fair value of scheme assets are as follows.. Defined benefit pensSon plans 2021 2020 Opening falr value of scheme assets Administration expenses Contributions by employer Contributions by scheme participants Benefits paid Inleresl on plan asset5 Remeasuremenls (assets) 1,328,000 {1,0001 45,000 11,000 131,0001 32.000 327.000 1,457,000 11,0001 46,000 12,000 (24.0001 37,000 1199.000) 1,711,000 1,328,000 The amount5 recognised In other recognised gains and losses are as follows: Defined benefit pension plans 2021 2020 Actuarlal gainsl(losses> (69,000) 190,0001 169.000) {90.0001 Page 32 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2021 16. EMPLOYEE BENEFIT OBLIGATIONS- contlnued The Major categories of scheme assets as amoijnts of total scheme assets are a5 follows.. Defined benefit penslon plans 2021 2020 Equities Government bonds Other bonds PToperty Cash liquidity Other 1,266,000 972,OOD 52.000 134,000 163,000 7,000 198,000 190,000 21.000 36,000 1.711.000 1,328,000 Principal acluarlal assumptions at the Statement of Finanoial Position dale (expressed as weighted averages)- 2021 Discount rale Future salary Increases Future pension increases CPI inflation 2020 2.40 10 3.60V 2.209/0 2.10/0 4.20Yo The contributtons made in respect of the accounting pertod to 31 March 2021 amounted to £46.328 {2020 £45,710) of which nothlng was outstsnding at the year end. Defined contrlbutlon schemg The charity has opened a defined contribution scheme for new gmployee5. The assets of the scheme are held in a Nest independently managed scheme. The costs charged represent contributions made during the year and amounted to £1,307 (2020 £672). Nothlng was outslanding al 31 March 2021 12020 £nill. 17. CONTINGENT LIABILITIES There were no contingent liabilities a5 al 31 March 2021 (2020.. Nill. Page 33 continued... CYMDEITHAS MUDIADAU GWIRFODDOL CEREOIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2021 18. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2021. 19. MEMBERS. LIABILITY Members of the charitable company guarantee lo contribute an amount nol exceeding £1 to thg assets of the company in the event of a wlnding up. Page 34 CYMDEITHAS MUDIADAU GIVIRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 Total funds 2020 Total funds Unrestricted funds Restricted funds INCOME AND ENDOWMENTS Investment Income Deposll account interest 736 736 1,175 Charltable activltles Grants 522,046 667,798 1,189.844 706,914 other Income Income generallon 12,249 54,153 66,402 61,428 Total Incoming resources 535,031 721,951 1,256,982 769,517 EXPENDITURE Charltable actlvities Wages Social security Penslons Telephone Postage, printing, stationery Travel and subsistence Training Outreach costs Subscriptions and affiliations Advertislng and promotlon Computer maintenance and software Integrated Care Fund Rusgel Youth Led Grant Timebanking project Welsh Gov 21 grant expenditure Transformation project Freehold property Fixtures and fittings Computer equipment Grants to institutions 161,819 14,979 82,328 4.714 1,232 44 255 12 1,115 2.031 4.789 65,864 2,295 1.307 227.683 17,274 83,635 4,714 1,232 205,136 16,518 117.382 4,655 2,460 8,379 1,025 214 1,202 1.258 4,106 280,302 231 3,499 255 12 1,115 2,110 4,789 323.300 79 323,300 700 700 16,351 1,679 2,500 16,351 1,679 2,500 2,500 1,503 808 46.850 60,584 60.584 289.669 458,308 747,977 698,028 Support ¢osts Management Trustees, expenses Carried forward 420 420 This page does not form part of the slalutory financial statements Page 35 CYMDEITHAS MUDIADAU GWtRFODDOL CEREDIGION I CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 Total nds 2020 Total funds Unrestricled funds Restricted funds Managem9nt Brought fO￿ard Insurance Professional fees Sundries Auditors remuneration other premises expenses Heat and light Governance Bank charges AGM 420 1,714 2,817 307 1,977 3,899 1,977 3,899 1,000 768 2,954 384 69 1,000 4,543 2,954 3.775 3,421 3,910 69 60 243 11,053 3,775 14.828 13,276 Total resource5 expended 300,722 462,083 762,805 711,304 Net income 234,309 259.868 494,177 58,213 This p8ge does not form part of the statutory financial statemenls Page 36