2021-03-31-accounts - Play Wales/chwarae Cymru

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		Page
Trustees report		1-13
Statement oftrustees	responsibilities	14
Independent auditor's	report	15-18
Statement offinancial	activities	19
Balance sheet		20
Statement ofcash flows		21
Notes to the financial	statements	22 - 38

Reference and administative	Reference and administative
Charity name		Play Wales IChwarae		Cymru
Charity number		1068926
Principal office		Park House
		Greyfriars Road
		Cardiff
		CF103AF
Trustees		Mike Shooter - Chair
		Anne Crowley
		Elspeth Webb
		Rhian Barrance
		Malcolm King
		Keith Towler - Treasurer
		Ronan Lyons
		Helen Hughes - Resigned 6 May 2021
		Owain Lloyd - Resigned			May	2021
Key management	personnel	Mike Greenaway	- Director
		Marianne Mannello - Assistant				Director
Auditors		Azets Audit Services
		Ty Derw, Lime Tree Court
		Cardiff Gate Business		Park
		Cardiff
		CF23 8AB
Bankers		The Co-Operative	PLC
		PO Box250
		Skelmersdale
		WN8 6WT
		CAF Bank PLC
		25 Kings Hill Avenue
		Kings Hill
		West Mailing
		Kent
		ME194JQ
Solicitors		Geldards
		4 Capital Quarter
		Tyndall Street
		Cardiff
		CF104BZ

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
		Notes	2021 f	2021	2021 f	2020 f	2020f	2020f
Income from:
Charitable activities		3	1,066,896	89,711	1,156,607	389,793	44,777	434,570
Other trading activities		4	738		738	1,861		1,861
Investments		5	179		179	523		523
Total income			1,067,813	89,711	1,157,524	392,177	44,777	436,954
~Ee~ndit
Charitable activities		6	878,292	89,711	968,003	433,145	44,777	477,922
Other		10	20,000		20,000	20,000		20,000
Total resources
expended			898,292	89,711	988,003	453,145	44,777	497,922
Net income/(expenditure)
forthe year/
Net incoming/(outgoing)
resources			169,521		169,521	(60,968)		(60,968)
Other recognised gains and			losses
Actuarial loss on
defined benefit pension
schemes			(80,000)		(80,000)	(190,000)		(190,000)
Net movement	in funds		89,521		89,521	(250,968)		(250,968)
Fund balances at 1
April 2020			255,307		255,307	506,275		506,275
Fund balances	at 31
INarch 2021			344,828		344,828	255,307		255,307

			2021		2020
		Notes	6
Fixed assets
Tangible assets				504		633
Current assets
Debtors		12	511,797		14,247
Cash at bank and in	hand		600,762		441,054
			1,112,559		455,301
Creditors: amounts	falling due within
one year		13	(508,235)		(40,627)
Net current assets				604,324		414,674
Total assets less current liabilities				604,828		415,307
Provisions for liabilities				(260,000)		(160,000)
Net assets				344,828		255,307
Income funds
Unres~tri atLfitgda
Designated funds		1'7	316,904		130,000
General unrestricted	funds		287,924		285,307
Pension reserve			(260,000)		(160,000)
				344,828		255,307
				344,828		255,307

				2021		2020
Cash flows from operating		activities
Cash generated from/(absorbed by)			21
operations					159,529		(25,853)
Investing	activities
Investment	income received			179		523
Net cash	generated from investing
actlvides					179		523
Net cash	used in gnanclng	activities
Net increase/(decrease) in		cash and cash
equivalents					159,708		(25,330)
Cash and	cash equivalents	at beginning	ofyear		441,054		466,384
Cash and	cash equivalents	at end ofyear			600,762		441,054

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Unrestricted	Unrestricted
funds	funds
2021	2020
5	5
738	1,861

		Unrestricted	Unrestricted
		funds	funds
		2021	2020
Interest	receivable	179	523

					Information	Training S	Play policy,	Total	Total
					services	Workforce	support8	2021	2020
						development	advocacy
					2021	2021	2021
					8		6
Staff costs					70	144	63,799	64,013	39,630
Royalties		and subscriptions							59
Conferences, seminars				and courses					13,555
Printing,		translation,	art	and advertising	30,577	575	38,084	69,236	6,341
Training	and consultancy				191,005	35,333	88,703	315,041	19,488
Administration and meeting costs					3,043		10,704	13,747	3,350
Computer		and website			45,387	16,710	425	62,522
Legal, professional			and	subscriptions					46
					270,082	52,762	201,715	524,559	82,469
Share of		support costs (see note 7)			185,380	125,738	126,326	437,444	357,315
Share of		governance	costs (see note 7)		6,000			6,000	38,138
					461,462	178,500	328,041	968,003	477,922
Analysis		by fund
Unrestricted funds					461,462	178,500	238,330	878,292	433,145
Restricted funds							89,711	89,711	44,777
					461,462	178,500	328,041	968,003	477,922

Support costs
				Support	Governance	2021	Support	Governance	2020
				costs	costs		cos'ts	costs
				8	6		5
Staff costs				364,818		364,818	302,775	26,701	329,476
Depreciation				128		128	147	12	159
Staff training							531	49	580
Premises				21,168		21,168	19,532	2,915	22,447
Property running		costs		1,662		1,662	1,522	138	1,660
Administration	and
meeting costs				13,372		13,372	14,889	1,352	16,241
Communications,
computer and wsbsite				28,335		28,335	15,377	1,400	16,777
Legal, professional			and
subscdiptions				7,961		7,961	2,542	1,011	3,553
Audit fees					6,000	6,000		4,560	4,560
				437,444	6,000	443,444	357,315	38,138	395,453
Analysed between
Charitable activiyies				437,444	6,000	443,444	357,315	38,138	395,453

			2021	2020
			Number	Number
Direct charitable		expenditure
Other expenses
Total
Employment	costs		2021	2020 6
Wages and salaries			309,722	269,862
Social security		costs	28,327	24,149
Other pension	costs		90,782	75,095
			428,831	369,106

more we	re	:
			2021	2020
			Number	Number
660,000	-	669,999	1

Other
				Unrestricted	Unrestricted
				funds	funds
				2021	2020
FRS	102	pension	costs	20,000	20,000
				20,000	20,000

Tangible fixed asset	s
			Flxtllles shd fittings
Cost
At 1 April 2020				18,076
At 31 March 2021				18,076
Depreciation and impairment
At 1 April 2020				17,443
Depreciation charged	in the year			129
At 31 March 2021				17,572
Carrying amount
At 31 March 2021				504
At 31 March 2020				633
Debtors
Amounts falling due	within one year:		2021 5	2020f
Trade debtors			5,973	3,514
Other debtors			500,000
Prepayments and accrued income			5,824	10,733
			511,797	14,247
Creditors: amounts	falling due within one year
			2021	2020
		Notes	8	8
Other taxation and social security			10,740	6,328
Deferred income		14	13,189	5,793
Trade creditors			448,548	10,876
Other creditors			11,109
Accruals			24,649	17,630
			508,235	40,627

Deferred income
						2021	2020
						6	6
Arising from grants, and training	memberships,		events			13,189	5,793
Deferred income is	included	in the	financial	statements	as follows:
						2021 6	2020f
Balance brought forward
Income received						5,793	19,002
Income released						14,292	16,584
						(6,896)	(29,793)
Balance carried forward						13,189	5,793

Key assumptions	Key assumptions
							2021	2020
							'/	'/o
Discount rate							2.1	2.3
Expected rate	ofincrease ofpensions				in payment		2.7	2.0
Expected rate	ofsalary increases						3.7	3.0
CPI inflation							2.7	2.0
Pension accounts revaluation			rate				2.7	2.0
Morfalily assumptions
The assumed	life expectations		on retirement			at age 65are:
							2021	2020
							Years	Years
Retiring today
- Males							22:3	22.2
-Females							24.7	24.6
Retiding in 20	years
- Males							23.3	23.2
-Females							26.1	26
Amounts recognised		in the profit and		loss account
							2021	2020
							6	5
Current service cost							100,000	90,000
Net interest on defined benefit			liability/(asset)				10,000
Other costs and income								10,000
Total costs							110,000	100,000
Amounts taken to other comprehensive					income:
							2021	2020
							5	6
Actual return	on scheme assets						(450,000)	230,000
Less: calculated interest element							50,000	60,000
Return on scheme assets excluding				interest		income	(400,000)	290,000
Actuarial changes related to obligations							480,000	(100,000)

The amounts included in the	balance	sheet	arising
obligations in respect ofdefined	benefit plans are		as follows:
				2021	2020
				8	8
Present value ofdefined benefit	obligations			3,130,000	2,520,000
Fair value of plan assets				(2,870,000)	(2,360,000)
Deficit in scheme				260,000	160,000
Movements in the present value	ofdefined	benefit	obligations:
					2021
					5
Liabilities at 1 April 2020					2,520,000
Current service cost					100,000
Benefits paid					(50,000)
Contributions from scheme members					20,000
Actuarial gains and losses					480,000
Interest cost					60,000
At 31 March 2021					3,130,000

				2021
				8
Fair value of	assets at 1 April 2020			2,360,000
Interest income				50,000
Return on plan assets (excluding amounts		included	in net interest)	400,000
Benefits paid				(50,000)
Contributions	by the employer			90,000
Contributions	by scheme members			20,000
At 31 March	2021			2,870,000

The fair v	alu	e ofplan assets at th	e reporti	ng period	end	was as follo	ws:
								2021		2020
								6		6
Equity instruments								1,882,720		1,564,680
Properiy								189,420		162,840
Government		Bonds						307,090		224,200
Corporate	Bonds							450,590		372,880
Cash								40,180		33,040
Other										2,360
								2,870,000		2,360,000
Restricted		funds
The income		funds ofthe charity	include	restricted	funds	comprising	the following	unexpended	balances of
donations	and grants held on trust for specific purposes:
		Movement		in funds			Movement	in funds
		Incoming		Resources		Balance at	Incoming	Resources		Balance at
		resources		expended		1Aprg 2020	resources	expended	M	March 2021
						6		6
Sport Wales- Healthy and
Active Fund			44,777	(44,777)			73,522	(73,522)
National	Lottery
Community		Fund					6,189	(6,189)
Cwm Taf	Morgannwg
University	Health Board						10,000	(10,000)
			44,777	(44,777)			89,711	(89,711)

					Balance at	Resources	Batance at	Transfers	Balance at
					1 Apdl 2010f	expendedf	1Apdi 2020f	f	31March 2021
Potential	redundancy	costs			87,700		87,700		87,700
Future book production			costs		28,000		28,000		28,000
Future revising qual%cation,				training
materials	and resources				32,900	(18,600)	14,300		14,300
Pension	fund lump	sum	payments		13,800	(13,800)
Fixed Asset Fund								504	504
Training	and workforce		development					180,000	180,000
Play Ambassadors		project						6,400	6,400
					162,400	(32,400)	130,000	186,904	316,904

19	Operating lease commitments	Operating lease commitments	Operating lease commitments	Operating lease commitments
	At the reporting end date the charity had,				outstanding			commitments	for future	minimum lease payments
	under non-cancefiable operating	leases,		which		fall	due	as follows:
										2021		2020
												6
	Within one year									489		489
	Between two snd five years									856		979
										1,345		1,468
20	Related party transactions
	Play Wales made payments of	67,332(2020:55,875)						on behalf of another not for profit organisation				during
	the year. Play Wales was subsequently reimbursed for the payments for profit organisation noted above. Amounts owed to the charity								made. The as at 31st	CEO isatrustee ofthe not March 2021 totalled 6703
	(2020:61,112).
21	Cash generated from operations									2021		2020
										8		6
	Surplus/(deficit) for the year									169,521		(60,968)
	Adjustments for.
	Investment income recognised	in statement			offinancial			activities		(179)		(523)
	Depreciation and impairment oftangible			fixed assets						128		159
	Difference between pension charge		and	cash contdibutions						20,000		20,000
	Movements in working capital:
	(Increase)/decrease in debtors									(497,550)		144,721
	Increase/(decrease) in creditors									460,213	(116,033)
	Increase/(decrease) in deferred	income								7,396		(13,209)
	Cash generated from/(absorbed		by) operations							159,529		(25,853)
22	Analysis ofchanges in net funds
	The charity had no debt duding	the	year.