2021-03-31-accounts - The Ty Glyn Davis Trust Limited

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COMPANY REGISTRATION NUMBER: 03267674 CHARITY REGISTRATION NUMBER: 1068156

The Ty Glyn Davis Trust Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2021

FRANCIS GRAY CHARTERED ACCOUNTANTS Chartered accountants Ty Madog 32 Queens Road Aberystwyth Ceredigion SY23 2HN

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2021

	Page
Trustees' annual report (incorporating the director's report)	1
Chartered accountant's report to the board of trustees on the
preparation ofthe unaudited statutory financial statements	5
Statement of financial activities (including income and
expenditure account)	6
Statement of financial position	7
Statement ofcash flows	9
Notes to the financial statements	10
The following pages do not form part of the financial statements
Detailed statement of financial activities	21
Notestothedetailedstatementoffinancialactivities	ae

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2021

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details

Registered charity name The Ty Glyn Davis Trust Limited Charity registration number 1068156 Company registration number 03267674 Principal office The Retreat Graig Place Aberdare CF44 7RE Registered office The Retreat Graig Place Aberdare CF44 7RE The trustees Geoffrey Brookes Bruce Cardwell Sian Davies Anne Evans (Resigned 11 September 2020) Dr, Helen Herbert (Resigned 20 November 2020) Rev. John Jones Jacqui Lyne Wendy Symons-Jones Mary McGlynn Lewis Nigel Thomas

The trustees

The following trustees retire at the 2021 Annual General Meeting and being eligible offer themselves for re-election; Wendy Symons-Jones, Rev. John Jones and Mary McGlynn.

Accountants	Francis Gray Chartered Accountants
	Chartered accountants
	Ty Madog
	32 Queens Road
	Aberystwyth
	Ceredigion
	SY232HN

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continuea)

Year ended 31 March 2021

Structure, governance and management

Governing document

The charity's governing document is the Memorandum and Articles of Association on incorporation on 23 October 1996, as amended by Special Resolution dated 27 November 2013 as amended by Special Resolution registered at Companies House on 17 March 2016.

Objectives and activities

Objectives

The charitable objects of the charity are, for the public benefit:

1) The relief of those who are in need by any reason of youth, age, ill-health, disability, financial or other disadvantage by the provision and maintenance of residential holiday centres, facilities and/or projects for the use, enjoyment and benefit of such people who are in need ( in particular children and young people) and such persons as may be necessary to look after their needs.

2) To organise and provide or assist in the organisation and provision of facilities or projects for recreation in the interests of social welfare with the object of improving the condition of life for boys and girls both disabled and able-bodied who are under the age of 25 years (or such higher educational age as the trustees may from time to time decide) and any person who has been injured in work or through activity and any person who needs respite care and who by reason of their youth or social and economic circumstances have need of such facilities or projects.

3) The provision of facilities, for members of the public at large in the interests of social welfare, for recreation or other leisure time occupation,

Policy to achieve objectives

The objectives are being achieved by the provision of purpose built accomodation and facilities at Ty Glyn for use by disabled individuals and groups.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

How our activities deliver public benefit

Our main activities and who we try to help are described below. All our charitable activities focus on the activities outlined in the 'Objectives' paragraph above and are undertaken to further our charitable purposes for the public benefit.

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

Financial review

Risk management

In line with the requirements set by the Charity Commission, the trustees have compiled a register of potential risks. It is now felt that the major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate these risks. The risk register is reviewed on an annual basis.

Reserves

The trustees have determined that they will retain as reserves a sum which is not less than £150,000.

Review of the Year

Holiday Centre fees for the year to 31 March 2021 were greatly impacted by Covid 19 pandemic as the lockdown started just before the beginning of the financial year. Deposits received for 20/21 have mostly been deferred to financial year 21/22. Restricted donation of £5k was for bedroom refurbishment which is being carried out in 21/22 financial year, The pandemic had a dramatic impact on value of investments al the start of the financial year. However, there was a strong recovery in investment values during 20/21 due to excellent management of investments and change in strategy towards capital growth rather than income. Investment value at 31 March 2021 of £510k represented capital growth of some £175k. Net incoming resources was a loss of (£16.3k), last year loss (£22.5k). Income from HMRC Job Retention Scheme was helpful in preserving the two part time jobs.

Unrestricted reserves were used to carry out some further improvements to the Centre including lighting upgrades. Garden maintenance costs were mostly for essential tree work. It was necessary to draw down £10k from investments in order to fund improvements and general maintenance.

Trustees’ responsibilities in relation to the financial statements

The trustees (who are also directors of The Ty Glyn Davis Trust Limited for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for the year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP;- make judgments and estimates that are reasonable and prudent; - State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements: - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees’ annual report and the strategic report were approved on 29 September 2021 and signed on behalf of the board of trustees by:

Jacqui Lyne Trustee

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The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Chartered Accountant's Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of The Ty Glyn Davis Trust Limited

Year ended 31 March 2021

As described on the statement of financial position, the trustees of the charity are responsible for the preparation of the financial statements for the year ended 31 March 2021, which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes.

You consider that the charity is exempt from an audit under the Companies Act 2006.

In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

FRANCIS GRAY CHARTERED ACCOUNTANTS Chartered accountants Ty 32 MadogQueens Road Aberystwyth Ceredigion SY23 2HN

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29 September 2021

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The Ty Glyn Davis Trust Limited Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2021

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2021|2020| |Unrestricted|Restricted|Endowment| |funds|funds|funds|Total|funds|Total|funds| |Note|£|£|£|£|£| |Income|and|endowments| |Donations|and|legacies|5|7,847|5,000|-|12,847|24,157| |Investment|income|6|5,685|-|-|5,685|6,130| |Other|income|7|11,792|-|-|11,792|-| |Total|income|25,324|5,000|~|30,324|30,287| |Expenditure| |Expenditure|on| |charitable|activities|8,9|46,657|-|-|46,657|52,852| |Total|expenditure|46,657|-|-|46,657|52,852| |Net|gains/(losses)|on| |investments|10|(175,097)|-|-|(175,097)|15,290| |7|;| |Net|income/(expenditure)| |and|net|movement|in|funds|153,764|5,000|-|158,764|(37,855)| |Reconciliation|of funds| |Total|funds|brought|forward|459|677|15,887|104,844|580,408|618,263| |Total funds|carried|forward|613,441|20,887|104,844|739,172|580,408|

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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 10 to 19 form part of these financial statements.

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The Ty Glyn Davis Trust Limited Company Limited by Guarantee

Statement of Financial Position

31 March 2021

		2021		2020
	Note	£	£	2
Fixed assets
Tangible fixed assets	14		221,406	226,330
Investments	15		510,356	345,259
			731,762	571,589
Current assets
Debtors	16	3,679		2,930
Cash at bank and in hand		6,280		TOFS
		9,959		14,003
Creditors: amounts falling due within one year	17	2,549		2,475
Net current assets			7,410	11,528
Total assets less current liabilities			739,172	583,117
Creditors: amounts falling due after more than
one year	18		-	2,709
Net assets			739,172	580,408
Funds of the charity
Endowment funds			104,844	104,844
Restricted funds			20,887	15,887
Unrestricted funds			613,441	459,677
Totalcharityfunds	20		739,172	580,408

For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

® The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476:
. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The statement of financial position continues on the following page. The notes on pages 10 to 19 form part of these financial statements.

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The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of trustees and authorised for issue on 29 September 2021, and are signed on behalf of the board by:

Jacqui Lyne Trustee

The notes on pages 10 to 19 form part of these financial statements. afis

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |2021|2020| |Cash|£|‘a| |flows|from|operating|activities| |Net income/(expenditure)|158,764|(37,855)| |Adjustments|for:| |Depreciation|of|tangible|fixed|assets|4,925|4,925| |Net|gains/(losses)|on|investments|(175,097)|15,290| |Other|interest|receivable|and|similar income|(5,685)|(6,130)| |Accrued|expenses/(income)|74|(4,256)| |Changes|in:| |Trade|and|other debtors|(749)|582| |Trade and|other creditors|(2,709)|2,710| |Cash|generated|from|operations|(20,477)|(24,734)| |Interest|received|5,685|6,130| |Net cash|used|in|operating|activities|(14,792)|(18,604)| |Cash|flows|from|investing|activities| |Purchases|of other|investments|(165,098)|35,290| |Proceeds|from|sale of other|investments|175,097|(15,290)| |Net cash|from|investing|activities|9,999|20,000| |Net (decrease)/increase|in|cash|and cash|equivalents|(4,793)|1,396| |Cash|and|cash|equivalents|at|beginning|of year|11,073|9,677| |Cash|and|cash|equivalents|at end|of year|6,280|11,073|

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The notes on pages 10 to 19 form part of these financial statements.

The Ty Glyn Davis Trust Limited Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Retreat, Graig Place, Aberdare, CF44 7RE.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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The Ty Glyn Davis Trust Limited Company Limited by Guarantee Notes to the Financial Statements (continvea)

Year ended 31 March 2021

Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

° income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
e legacy income is recognised when receipt is probable and entitlement is established. e income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis asa liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: * expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
e other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity, Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The Ty Glyn Davis Trust Limited Company Limited by Guarantee Notes to the Financial Statements (continue)

Year ended 31 March 2021

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 2% straight line Equipment - 15% straight line

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition,

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price, At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

Accounting policies (continued)

Investments in joint ventures (continued)

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomesa party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

349=

The Ty Glyn Davis Trust Limited Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Financial instruments (continued)

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The Ty Glyn Davis Trust Limited is a company limited by guarantee and a registered charity governed by its memorandum and articles of association.

5. Donations and legacies

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|||||| |---|---|---|---|---| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2021| |Donations|£|Eg|£| |Donations|1277|5,000|6,277| |Accommodation|6,570|-|6,570| |7,847|5,000|12,847| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2020| |£|e|3| |Donations| |Unrestricted|donations|1,579|-|1,579| |Accommodation|22,578|~|22,578| |24,157|-|24,157|

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Investment income

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|TotalFunds|Unrestricted|Total|Funds| |Funds|2021|Funds|2020| |Bank|interest|receivable|£|2|-s|2|z|3|8|3| |Other|investment|income|5,683|5,683|6,127|6,127| |5,685|5,685|6,130|6,130|

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The Ty Glyn Davis Trust Limited Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

7.	Other income
		Unrestricted	Total Funds		Unrestricted	Total	Funds
		Funds		2021	Funds		2020
		£		£	£		£
	Job Retention Scheme	11,382		11,382	~		-
	Renewable Heat Incentive	410		410	—		-
		11,792		11,792	=		ws
8.	Expenditure on charitable activities	by fund type
		Unrestricted	TotalFunds		Unrestricted	Total	Funds
		Funds		2021	Funds		2020
		£		£	E		£
	General charitable activity	46,657		46,657	52,852	52,852
9.	Expenditure on charitable activities by activity type
			Activities
			undertaken		Total funds	Total fund
				directly	2021		2020
				£	£		£
	General charitable activity			46,657	46,657	52,852
10.	Net gains/(losses) on investments
		Unrestricted	TotalFunds		Unrestricted	Total	Funds
		Funds		2021	Funds		2020
		£		£	£		E
	Gains/(losses) on other investment
	assets	175,097		175,097	(15,290)	(15,290)
11.	Net income/(expenditure)
	Net income/(expenditure) is stated aftercharging/(crediting):
					2021	2020
	Depreciation of tangible fixed assets				£ 4,925		£ 4,925
12.	Staff costs
	The total staff costs and employee benefits forthe reporting			periodare	analysed as	follows:
					2021	2020
	Wages andsalaries				£ 21,954	£ 22,762

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The Ty Glyn Davis Trust Limited Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 March 2021

12. Staff costs (continued)

The average head count of employees during the year was 2 (2020: 2). The average number of full-time equivalent employees during the year is analysed as follows: 2021 2020 Number of staff No. 2 No. 2

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

13. Trustee remuneration and expenses

None of the trustees have been paid any remuneration by the charity, or received any other benefits from an employment with the charity or any related entity.

No trustee expenses have been incurred or paid during the year.

14. Tangible fixed assets

	Land and
	buildings
	£
Cost
At 1 April 2020 and 31 March 2021	306,787
Depreciation
At 1 April 2020	80,456
Charge for the year	4,925
At 31 March 2021	85,381
Carrying amount
At 31 March 2021	221,406
At31March2020	226,331

At Cost or Revaluation: Land £45,000 (2020:£45,000), Buildings £246,244 (2020:£246,244). At Net book value: Land £45,000 (2020:£45,000), Buildings £176,406 (2020:£181, 331).

The Land is not depreciated, whereas the Buildings are depreciated at 2% on a straight line basis. The land on which the centre stands was transferred to Ty Glyn Davis Trust Limited as a gift in 1998. The building and equipment was transferred to Ty Glyn Davis Trust Limited in October 1996. The trustees elected to revalue at their discretion and using their best judgement.

The Ty Glyn Davis Trust Limited Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 31 March 2021

15. Investments

			Other
			investments
			£
	Cost or valuation
	At 1 April 2020		345,259
	Additions Disposals		= (10,000)
	Other movements		175,097
	At 31 March 2021		510,356
	Impairment
	At 1 April 2020 and 31 March 2021		_
	Carrying amount
	At 31 March 2021		510,356
	At 31 March 2020		345,259
	All investments shown above are held at valuation.
16.	Debtors
		2021	2020
		£	£
	Prepayments and accrued income	3,679	2,930
17.	Creditors: amounts falling due within one year
		2021	2020
		£	£
	Trade creditors	451	451
	Accruals and deferred income	2,098	2,024
		2,549	2,475
18.	Creditors: amounts falling due aftermore than one year
		2021	2020
		£	£
	Accruals and deferred income	-	2,709
19.	Deferred income
		2021	2020
		£	£
	Amountdeferredinyear	~	2,709

oii Fi

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 31 March 2021

20. Analysis of charitable funds

Unrestricted funds
	At					Gains and	At
	1 April 2020	Income		Expenditure		losses	31 Mar 2021
	F	£		£		£	£
Unrestricted Funds	459 677	25,324		(46,657)		175,097	613,444
	At					Gains and	At
	1 April 2019	Income		Expenditure		losses	31 Mar2020
	y	£		£		£	£
Unrestricted Funds	497 532	30,287		(52,852)		(15,290)	459,677
Restricted funds
	At					Gains and	At
	1 April 2020	Income		Expenditure		losses	31 Mar 2021
Garden Restoration	£	£		g£		E	£
Fund	15,887				~	-	15,887
Bedroom Refurbishment		5,000					§,000
	15,887	5,000					20,887
	At					Gains and	At
	1 April 2019	Income		Expenditure		losses	31 Mar 2020
	g	£		E		£	£
Garden Restoration
Fund	15,887		-		-	-	15,887
Endowment funds
	At					Gains and	At
	1 April 2020	Income		Expenditure		losses	31 Mar2021
	g	£		E		£	£
Endowment Fund	104844		—		-	-	104,844
	At					Gains and	At
	1 April 2019	Income		Expenditure		losses	31 Mar2020
Endowment Fund	g 104,844	£	-	re	-	£ _	£ 104,844

Pake

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 31 March 2021

21. Analysis of net assets between funds

		Unrestricted	Restricted	Endowment	Total Funds
		Funds	Funds	Funds	2021
	Tangible fixed assets Investments	rai 95,675 510,356	£ 20,887 -	£ 104,844 -	£ 221,406 510,356
	Current assets	9,959	-	-	9,959
	Creditors less than 1 year	(2,549)	-	-	(2,549)
	Creditors greater than 1 year	-	-	-	-
	Net assets	613,441	20,887	104,844	739,172
		Unrestricted	Restricted	Endowment	Total Funds
		Funds	Funds	Funds	2020
	Tangible fixed assets	E 105,599	£E 15,887	£ 104,844	E 226,330
	Investments	345,259	-	-	345,259
	Currentassets	14,003	-	-	14,003
	Creditors less than 1 year Creditors greater than 1 year	(2,475) (2,709)	- -	- -	(2,475) (2,709}
	Net assets	459 677	15.887	104,844	580,408
22.	Analysis ofchanges in net debt
					At
			At1 Apr 2020	Cash flows	31 Mar 2021
			£	2	£
	Cashatbankandinhand		11,073	(4,793)	6,280

afin

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee Management Information Year ended 31 March 2021

The following pages do not form part of the financial statements.

20 -

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Detailed Statement of Financial Activities

Year ended 31 March 2021

	2021	2020
	£	£
Income and endowments
Donations and legacies
Restricted donation	5,000	-
Unrestricted donations	1,277	1,579
Accommodation	6,570	22,578
	12,847	24,157
Investment income
Bank interest receivable	2
Other investment income	5,683	6,127
	5,685	6,130
Other income
Job Retention Scheme	11,382	=
Renewable Heat Incentive	410	~
	11,792	-
Totalincome	30,324	30,287
Expenditure
Expenditure on charitable activities
Wages and salaries	21,954	22,762
Light and heat	2,851	3,538
Repairs and maintenance	110	2,361
Insurance	3,505	3,508
Other establishment	9,521	12,541
Motor vehicle expenses	113	53
Legal and professional fees	2,597	1,488
Other motor/travel costs	-	151
Bank charges	80	105
Telephone	1,001	1,060
Other office costs	-	359
Depreciation	4,925	4,926
	46,657	52,852
Totalexpenditure	46,657	52.852
Net gains/(losses) on investments
Gains/(losses) on other investmentassets	(175,097)	15,290
Netincomeexpenditure)	158,764	(37,855)

-241-

The Ty Glyn Davis Trust Limited

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities

Year ended 31 March 2021

	2021	2020
	E	£
Expenditure on charitable activities
Activities undertaken directly
Direct charitable activity - wages/salaries	21,954	22,762
light & heat	2,851	3,538
repairs & maintenance	110	2,361
insurance	3,505	3,508
property maintenance	9,521	12,541
consultants	113	53
accountancy	2,597	1,488
motor/travel costs	-	151
bank Charges	80	105
telephone	1,001	1,060
postage, stationery and advertising	-	359
depreciation	4,925	4,926
	46,657	52,852
Expenditureoncharitableactivities	46,657	52,852

= 2D