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2023-03-31-accounts

Page
Trustees report 1-14
Statement oftrustees responsibilities 15
Independent
auditor's		 report 16-18
Statement offinancial activities 19
Balance sheet 20
Statement
ofcash flows		 21
Notes to the financial statements 22-41

Refemnce and administative Refemnce and administative detaffs
Charity name Play Wales IChwarae Cymru
Charity number 1068926
Principal office Park House
Greyfiiars
Road
Cardiff
CF103AF
Trustees DrAnne Crowley - Treasurer
Dr Elspeth Webb
Rhian Barrance
Malcolm
King
Keith Towler - Chair
Ronan Lyons
DrJacky Tyrie
Key management personnel Mike Greenaway - Director
Marianne
Mannello - Assistant		 Director
Auditors Azets Audit Services
Ty Derw, Lime Tree Court
Cardiff Gate Business Park
Cardiff
CF238AB
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

As restated As restated
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
Notes 2023
f		 2023f 2023f 2022f 2022 2022f
~(maffggl
Charitable
activities		 800,411 47,343 847,754 616,734 73,572 690,306
Investments 2,449 2,449 60 60
Total income 802,860 47,343 850,203 616,794 73,572 690,366
EZpgnndltu
90;
Charitable
activities		 744,258 36,761 781,019 657,586 73,572 731,158
Net income/(expenditure)
for the year/
Net incoming/(outgoing)
resources 58,602 10,582 69,184 (40,792) (40,792)
Other recognised gains and losses
Actuarial
(loss)/gain
on defined benefit
pension schemes (150,000) (150,000) 460,000 460,000
Net movement
in funds		 (91,398) 10,582 (80,816) 419,208 419,208
Fund balances at 1 April
2022 764,036 764,036 344,828 344,828
Fund balances at 31
March 2023 672,638 10,582 683,220 764,036 764,036

2023 2022
Notes 6
Fixed assets
Tangible assets 10
Curmnt assets
Debtors 318,426 42,019
Cash at bank and in hand 675,167 874,328
993,593 916,347
Creditors: amounts falling due within
one year 12 (310,373) (312,311)
Net cunent assets 683,220 604,036
Total assets less current liabilities 683,220 604,036
Net assets excluding pension (liability)isurplus 683,220 604,036
Defined benefit pension (liability)l
surplus 14 160,000
Net assets 683,220 764,036
Income funds
Restricted
funds		 15 10,582
ILJsti
t dft		 d
Designated
funds		 16 377,474 323,700
General unrestricted funds 295,164 280,336
Pension reserve 160,000
672,638 764,036
683,220 764,036

2023 2022
Notes 6 f
Cash flows from operating activities
Cash (absorbed by)/generated from 20
operations (201,610) 273,506
Investing activities
Investment income received 2,449 60
Net cash generated
from		 investing
activities 2,449 60
Net cash used in financing activities
Net (decrease)/increase in cash snd cash
equivalents (199,161) 273,566
Cash and cash equivalents at beginning ofyear 874,328 600,762
Cash and cash equivalents at end of year 675,167 874,328

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Unrestricted Unrestricted
funds funds
2023 2022
6
Interest receivable 2,449 60

Information Training
&		 Play policy, Total Total
services Workforce support
&		 2023 2022
development advocacy
2023 2023 2023
6 6 6
Staff costs 3,303 50,386 53,689 66,410
Pdnting, translation, art and advertising 8,107 481 6,830 15,418 11,159
Training and consultancy 88,262 57,370 27,334 172,966 104,251
Administration and meeting costs 1,605 1,960 3,565 1,482
Computer
and website		 12 12 224
Other staff costs 16,150 16,150
97,986 61,154 102,660 261,800 183,526
Share of support costs (see note 6) 178,216 168,027 162,978 509,221 542,262
Share of governance costs (see note 6) 9,998 9,998 5,370
286,200 229,181 265,638 781,019 731,158
Analysis by fund
Unrestricted funds 286,200 229,181 228,877 744,258 657,586
Restricted
funds		 36,761 36,761 73,572
286,200 229,181 265,638 781,019 731,158

6 Supportcosts
Support Governance 2023 Support Governance 2022
costs costs costs costs
E E E
Staff costs 374,679 374,679 383,111 383,111
Depreciation 504 504
Staff training 10,879 10,879 1,459 1,459
Premises 38,675 38,675 29,095 29,095
Property
running		 costs 4,065 4,065 9,538 9,538
Administration and
meeting costs 26,582 26,582 75,267 75,267
Communications,
computer
and		 website 51,079 51,079 28,434 28,434
Legal, professional and
subscriptions 3,262 3,262 14,854 14,854
Audit, accountancy and
other fees 9,998 9,998 5,370 5,370
509,221 9,998 519,219 542,262 5,370 547,632
Analysed
between
Chaditable
activities		 509,221 9,998 519,219 542,262 5,370 547,632

2023 2022
Number Number
Direct charitable expenditure
Other expenses
Total
As restated
Employment
costs		 2023 2022
6
Wages and salaries 295,746 293,589
Social security costs 27,842 25,212
Other pension costs 104,780 130,720
428,368 449,521

F170,223).
,
The number ofemployees whose annual remuneration was 860,000 or more
were:
2023 2022
Number Number
660,000 - F69,999 1 1

10 Tangible fixed asset s
Fixtures and fittings
Cost
At 1 April 2022 18,076
At 31 March 2023 18,076
Depreciation
and impairment
At 1 April 2022 18,076
At 31 March 2023 18,076
Carrying
amount
At 31 March 2023
At 31 March 2022
11 Debtors
2023 2022
Amounts
falling due		 within one year: 6 6
Trade debtors 4,300 30,262
Prepayments
and accrued income		 314,126 11,757
318,426 42,019
12 Creditors: amounts falling due within one year
2023 2022
Notes 6
Other taxation and social security 7,030 7,703
Deferred income 13 47,486 34,999
Trade creditors 219,704 258,851
Other creditors 4,897
Accruals 31,256 10,758
310,373 312,311

2023
2		 2022f
Arising from grants, memberships, events and
training 47,486 34,999
Deferred income is included in the financial statements as follows:
2023 2022
6
Deferred income is included within:
Current
liabilities		 47,486 34,999
Movements
in the year:
Brought forward 34,999 13,189
Released from previous
periods		 (22,813) (33,359)
Resources deferred in the year 35,300 55,169
Deferred income at 31 March 2023 47,486 34,999

Key assumptions
2023 2022
tro
Discount rate 4.7 2.7
Expected rate ofincrease ofpensions in payment 2.7 3.0
Expected rate ofsalary increases 3.7 4.0
CPI inflation 2.7 3.0
Pension accounts revaluation rate 2.7 3.0
Mortality assumptions
The assumed
life expectations		 on retirement at age 65are:
2023 2022
Years Years
Retiring today
-Males 22.6 22.1
-Females 24.7 24.6
Retiring
in 20 years
-Males 23.2 23.2
-Females 25.8 26
Amounts
recognised		 in the profit and loss account:
2023 2022
F 6
Cunent service cost 110,000 120,000
Net interest on defined benefit liability/(asset) (10,000) 10,000
Total costs 100,000 130,000
Amounts
taken to other comprehensive		 income;
2023f 2022
6
Actual return
on scheme assets		 60,000 (300,000)
Less: calculated
interest element		 90,000 60,000
Return
on scheme assets excluding
interest		 income 150,000 (240,000)
Actuarial changes related to obligations (940,000) (220,000)
Effects ofchanges
in		 the amount ofsurplus that is not recoverable 940,000
Total costs/(income) 150,000 (460,000)

The
amounts
included		 in the balance sheet arising from the charity's
obligations
in respect ofdefined		 benefit plans are as follows;
2023 2022
8 6
Present value ofdefined
benefit		 obligations 2,280,000 3,070,000
Fair value of plan assets (3,220,000) (3,230,000)
Surplus
in scheme		 (940,000) (160,000)
Restriction
on scheme assets		 940,000
Total liability/(asset)
recognised		 (160,000)
Movements
in the present		 value ofdefined benefit obligations:
2023
8
Liabilities at 1 April 2022 3,070,000
Current service cost 110,000
Benefits paid (60,000)
Contributions
from scheme members		 20,000
Actuarial
gains and losses		 (940,000)
Interest cost 80,000
At 31 March 2023 2,280,000
Movements in the fair value ofplan assets: in the fair value ofplan assets:
2023
8
Fair value ofassets at 1 Apriil 2022 3,230,000
Interest income 90,000
Return on plan assets (excluding amounts included in net interest) (150,000)
Benefits paid (60,000)
Contributions by the employer 90,000
Contributions by scheme members 20,000
At 31 March 2023 3,220,000

The fair value of plan assets at the reporting period end was as follows:
2023 2022
Equity instruments 2,190,000 2,190,000
Property 230,000 220,000
Government
Bonds		 280,000 300,000
Corporate Bonds 250,000 270,000
Cash 100,000 70,000
Mutli Asset Credit 170,000 180,000
3,220,000 3,230,000
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Balance at Transfers Balance at Transfers Balance at
1 April 2021 1April 2022 31 March 2023
6 6 6
Potential redundancy costs 87,700 7,300 95,000 21,000 116,000
Future book production costs 28,000 28,000 28,000
Future revising
qualification,		 training
materials and resources 14,300 14,300 14,300
Fixed Asset Fund 504 (504)
Training and workforce development 180,000 180,000 39,174 219,174
Play Ambassadors
project		 6,400 6,400 (6,400)
316,904 6,796 323,700 53,774 377,474

2023
8		 2022f
yI/ithin one year 25,763 26,130
Between two and gve years 14,471 40,597
40,234 66,727

20 Cash generated
from operations		 Cash generated
from operations		 2023 2022
8 6
(Deficit)/surplus
for the year		 69,184 (40,792)
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (2,449) (60)
Depreciation
and impairment
oftangible fixed assets		 504
Difference between
pension charge and cash contributions		 10,000 40,000
Movements
in working capital:
(Increase)/decrease
in debtors		 (276,407) 469,778
(Decrease) in creditors (14,425) (217,734)
Increase
in deferred
income		 12,487 21,810
Cash (absorbed
by)/generated		 from operations (201,610) 273,506
21 Analysis ofchanges
in net funds