## ||**Page**|| |---|---|---| |**1**|**to**|**4**| |**5**|**to**|**9**| |**10**|**to**|**13**| ||**14**|| |**15**|**to**|**16**| ||**17**|| ||**18**|| |**19**|**to**|32| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |**Trustees**||| |---|---|---| |Mr J B Jones|Chairman Operations Manager|| |Mr C R Chown|Vice Chair Hotelier|| |Mr A H C Kammerling MBE|Friends President Director|| |Mr J D Williams|Chair o f Friends Researcher & Lecturer|| |Ms S J Wood|Gallery Partner|| |Mr G A Jones|Gallery Director|| |Mrs K Jones|Marketing Executive|| |Mrs G Griffith|Trustee|| |Mrs E M Rickards|Trustee|| |Ms G H Williams|Director|| |Mr I W Jones|Director|| |Ms M W Finch|Nursery and Music Teacher|| |Mrs L Richards|Director|| |Mrs R S Harris|Director|(appointed 19.10.20)| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||**31.3.21**|31.3.20| |---|---|---|---| |||**Unrestricted**|Total| |||**funds**|funds| ||Notes||| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies|2|**534,472**|**111,806**| |**Charitable activities**|**4**||| |Activities in furtherance o f charitable objectives||**386,322**|407,374| |Income from activities for generating funds||**104,532**|310,769| |Management and administration||**99,724**|| |Y winllan incoming resources|||14,370| |Investment income|3|**114**|187| |Other income||**1,822**|2,320| |**Total**||**1,126,986**|**846,826**| |**EXPENDITURE ON**|||| |Raising funds|5|**136,621**|315,232| |**Charitable activities**|**6**||| |Activities in furtherance o f charitable objectives||600|472| |Finance costs||**9,088**|9,384| |Cost o f generating funds||**59,188**|107,943| |Management and administration||**375,210**|377,078| |Y winllan expenditure||**860**|4,305| |Depreciation||**41,826**|41,163| |**Total**||**623,393**|855,577| |**NET INCOME/(EXPENDITURE)**||**503,593**|(8,751)| |**RECONCILIATION OF FUNDS**|||| |**Total funds brought forward**||**2,094,943**|2,103,694| |**TOTAL FUNDS CARRIED FORWARD**||**2,598,536**|2,094,943| ## |||**31.3.21**|31.3.20| |---|---|---|---| |||**Unrestricted**|Total| |||**funds**|funds| ||Notes||| |**FIXED ASSETS**|||| |Tangible assets|12|**2,314,395**|2,112,887| |Artwork and sculpture investments|13|**41,250**|41,250| |||**2,355,645**|2,154,137| |**CURRENT ASSETS**|||| |Stocks|14|**12,162**|13,769| |Debtors|15|**59,673**|11,512| |Cash at bank and in hand||**352,334**|79,091| |||**424,169**|104,372| |**CREDITORS**|||| |Amounts falling due within one year|16|**(39,547)**|(36,011)| |**NET CURRENT ASSETS**||**384,622**|68,361| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||**2,740,267**|2,222,498| |**CREDITORS**|||| |Amounts falling due after more than one year|17|**(141,731)**|(123,555)| |**PROVISIONS FOR LIABILITIES**|20||(4,000)| |**NET ASSETS**||**2,598,536**|2,094,943| |**FUNDS**|21||| |Unrestricted funds||**2,598,536**|2,094,943| |**TOTAL FUNDS**||**2,598,536**|2,094,943| ## ## |||**31.3.21**|31.3.20| |---|---|---|---| ||Notes||| |**Cash flows from operating activities**|||| |Cash generated from operations|1|**484,279**|32,030| |Interest paid||**(8,383)**|(6,939)| |Net cash provided by operating activities||**475,896**|25,091| |**Cash flows from investing activities**|||| |Purchase o f tangible fixed assets||**(243,336)**|(11,083)| |Interest received||**114**|187| |Net cash used in investing activities||**(243,222)**|(10,896)| |**Cash flows from financing activities**|||| |New loans in year||**50,000**|| |Capital repayments in year||**(9,431)**|| |Net cash provided by financing activities||**40,569**|| |**Change in cash and cash equivalents in**|||| |**the reporting period**||**273,243**|14,195| |**Cash and cash equivalents at the**|||| |**beginning o f the reporting period**||**79,091**|64,896| |**Cash and cash equivalents at the end of**|||| |**the reporting period**||**352,334**|79,091| ## ## |**OPERATING ACTIVITIES**|||| |---|---|---|---| |||**31.3.21**|**31.3.20**| |**Net income/(expenditure) for the reporting period (as per the**
**Statement o f Financial Activities)**||**503,593**|(8,751)| |**Adjustments for:**|||| |Depreciation charges||**41,826**|**41,163**| |Interest received||**(114)**|(187)| |Interest paid||**8,383**|6,939| |Provisions||**(4,000)**|**4,000**| |Decrease/(increase) in stocks||**1,607**|(1,518)| |Increase in debtors||**(48,161)**|(5,689)| |Decrease in creditors||**(18,855)**|(3,927)| |**Net cash provided by operations**||**484,279**|32,030| |**ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS**|||| ||•At 1.4.20|Cash flow|**At 313.21**| |**Net cash**|||| |Cash at bank and in hand|**79,091**|**273,243**|**352,334**| ||**79,091**|**273,243**|**352,334**| |**Debt**|||| |Debts falling due within 1 year|**(3,072)**|**(22,391)**|**(25,463)**| |Debts falling due after 1 year|**(123,555)**|**(18,176)**|**(141,731)**| ||**(126,627)**|**(40,567)**|**(167,194)**| |**Total**|**(47,536)**|**232,676**|**185,140**| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||**31.3.21**|31.3.20| |---|---|---| |Plas donations, legacies and similar incoming resources|**230,507**|69,806| |Plas grants|**4,350**|42,000| |Gift aid|**4,515**|**−**| |Coronavirus support grants|**295,100**|| ||**534,472**|111,806| ||||**31.3.21**|31.3.20| |---|---|---|---|---| ||Other grants||**295,100**|| |**3.**|**INVESTMENT INCOME**|||| ||||**31.3.21**|31.3.20| ||Deposit account interest||**114**|**187**| |**4.**|**INCOME FROM CHARITABLE ACTIVITIES**|||| ||||**31.3.21**|31.3.20| |||Activity||| |||Activities in furtherance o f charitable||| ||Workshop and courses|objectives||244| |||Activities in furtherance o f charitable||| ||Room hire & functions|objectives|**(833)**|6,558| |||Activities in furtherance o f charitable||| ||Accommodation|objectives|**12,803**|19,299| |||Activities in furtherance o f charitable||| ||Gallery art sales|objectives|**115,691**|197,152| |||Activities in furtherance o f charitable||| ||Shop sales|objectives|**21,476**|66,923| |||Activities in furtherance o f charitable||| ||Shop art sales|objectives|**29,344**|90,349| |||Activities in furtherance o f charitable||| ||Slop y plas|objectives|**17,841**|26,849| |||Activities in furtherance o f charitable||| ||Phase 1 grants|objectives|**190,000**|| ||Car park charges|Income from activities for generating funds|**4,203**|7,090| ||Carried forward||**390,525**|414,464| ## ## |**4.**|**INCOME FROM CHARITA**|**BLE ACTIVITIES −continued**||| |---|---|---|---|---| ||||**31.3.21**|31.3.20| ||Brought forward||390,525|414,464| ||Cafe income|Income from activities for generating funds|**89,998**|303,679| ||Eat out to help out grant|Income from activities for generating funds|**10,331**|| ||Furlough scheme|Management and administration|**99,724**|| ||WinIlan performances|Y winllan incoming resources|−|14,370| ||||**590,578**|732,513| |**5.**|**RAISING FUNDS**|||| ||**Furtherance o f activity costs**|||| ||||**31.3.21**|31.3.20| ||Opening stock||**13,769**|12,322| ||Purchases||**44,749**|135,123| ||Closing stock||**(12,162)**|(13,769)| ||Shop & gallery art costs||**89,430**|180,341| ||Collector plan charges||**835**|1,215| ||||**136,621**|315,232| |**6.**|**CHARITABLE ACTIVITIES COSTS**|||| ||||Support|| |||Direct|costs (see|| |||Costs|note 7)|Totals| ||Activities in furtherance o f charitable|||| ||objectives|**600**||**600**| ||Finance costs|−|**9,088**|**9,088**| ||Cost o f generating funds|**59,188**||**59,188**| ||Management and administration|**318,076**|**57,134**|**375,210**| ||Y winllan expenditure|860|−|**860**| |||**378,724**|**66,222**|**444,946**| ## ## |**SUPPORT COSTS**|||| |---|---|---|---| |||Governance|| ||Finance|costs|Totals| |Finance costs|**9,088**||**9,088**| |Management and administration||**57,134**|**57,134**| ||**9,088**|**57,134**|**66,222**| ## ## |**9.**|**AUDITORS' REMUNERATION**||| |---|---|---|---| |||**31.3.21**|31.3.20| ||Fees payable to the charity's auditors for the audit o f the charity's financial||| ||statements|**4,500**|| ||Other assurance services||2,405| ||Other non−audit accountancy services|,2,775|2,640| |**10.**|**TRUSTEES' REMUNERATION AND BENEFITS**||| |||**31.3.21**|31.3.20| ||Trustees' salaries|**43,421**|44,696| ||Trustees' social security|**4,780**|4,977| ||Trustees' pensions paid|**5,155**|5,232| |||**53,356**|54,905| ## ## ## |**STAFF COSTS**||| |---|---|---| ||**31.3.21**|31.3.20| |Wages and salaries|**292,016**|309,242| |Social security costs|**17,894**|18,567| |Other pension costs|**3,011**|3,606| ||**312,921**|331,415| ||**31.3.21**|31.3.20| |---|---|---| |Salaried trustee|1|1| |All other employees|**19**|30| ||**20**|31| ## |**TANGIBLE FIXED ASSETS**||||| |---|---|---|---|---| ||Depreciable|||| ||property|||| ||at cost||Improvements|Siop y| ||or|Non−depreciable|to|Plas| ||revaluation|land|properties|equipment| |**COST**||||| |At 1 April 2020|**1,072,347**|**391,824**|**923,578**|**3,465**| |Additions|||**233,414**|| |At 31 March 2021|**1,072,347**|**391,824**|**1,156,992**|**3,465**| |**DEPRECIATION**||||| |At 1 April 2020|**232,224**||**105,961**|**693**| |Charge for year|**10,724**||**11,570**|**554**| |At 31 March 2021|**242,948**||**117,531**|**1,247**| |**NET BOOK VALUE**||||| |At 31 March 2021|**829,399**|**391,824**|**1,039,461**|**2,218**| |At 31 March 2020|840,123|391,824|817,617|2,772| ## ## ||||Y winllan||| |---|---|---|---|---|---| ||Plant and|Cafe|plant and|Computer|| ||machinery|equipment|machinery|equipment|Totals| ||£|£|£|£|£| |**COST**|||||| |At 1 April 2020|**130,890**|**38,394**|**17,716**|**112,260**|**2,690,474**| |Additions|**6,349**|||**3,573**|**243,336**| |At 31 March 2021|137,239|38,394|17,716|115,833|2,933,810| |**DEPRECIATION**|||||| |At 1 April 2020|**101,680**|**25,078**|**14,915**|**97,036**|577,587| |Charge for year|7,112|2,664|560|**8,644**|**41,828**| |At 31 March 2021|108,792|27,742|15,475|**105,680**|**619,415**| |**NET BOOK VALUE**|||||| |At 31 March 2021|28,447|10,652|2,241|10,153|2,314,395| |At 31 March 2020|29,210|13,316|2,801|15,224|2,112,887| |Cost or valuation at 31|March 2021 is represented|by:|| |---|---|---|---| ||Land &|Plant &|| ||Buildings|Machinery|Totals| |||etc.|| |Revaluation|691,249||691,249| |Cost|1,696,500|302,728|1,999,228| |Additions|233.414|9 922|243.336| ||2,621.163|312,650|2,933,813| |||31.03.21|31.03.20| |---|---|---|---| ||−||| |Cost||1,929,914|L96,500| ## ## |**13.**|**ARTWORK AND SCULPTURE INVESTMENTS**||| |---|---|---|---| ||||Total| ||**MARKET VALUE**||| ||At 1 April 2020 and 31 March 2021||**41,250**| ||**NET BOOK VALUE**||| ||At 31 March 2021||**41,250**| ||At 31 March 2020||41,250| |**14.**|**STOCKS**||| |||**31.3.21**|31.3.20| ||Stocks|**12,162**|13,769| |**15.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |||**31.3.21**|31.3.20| ||Trade debtors|**2,484**|11,512| ||Other debtors|**21,116**|| ||VAT|**36,073**|| |||**59,673**|11,512| |**16.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |||**31.3.21**|31.3.20| ||Bank loans and overdrafts (see note 18)|**15,832**|**−**| ||Other loans (see note 18)|**9,631**|3,072| ||Trade creditors|**389**|21,391| ||VAT||2,558| ||Other creditors|**4,217**|3,873| ||Hsbc credit card|**2,203**|72| ||Accrued expenses|7,275|5,045| |||**39,547**|36,011| ## ## ||||||**31.3.21**|31.3.20| |---|---|---|---|---|---|---| |Bank|loans|(see|note|18)|**34,167**|| |Other|loans|(see|note|18)|**107,564**|123,555| ||||||**141,731**|123,555| ## ||**31.3.21**|31.3.20| |---|---|---| |Amounts falling due within one year on demand:||| |Bank loans|**15,832**|| |Other loans|**9,631**|3,072| ||**25,463**|3,072| |Amounts falling between one and two years:||| |Bank loans −1−2 years|**9,907**|| |Other loans −1−2 years|**9,835**|3,288| ||**19,742**|3,288| |Amounts falling due between two and five years:||| |Bank loans −2−5 years|**24,260**|| |Other loans −2−5 years|**30,775**|11,322| ||**55,035**|11,322| |Amounts falling due in more than five years:||| |Repayable by instalments:||| |Other loans more 5yrs instalments|**66,954**|108,945| ## ## |||**31.3.21**|31.3.20| |---|---|---|---| |Bank|loans|49,999|| |Other|loans|**117,195**|126,627| |||**167,194**|126,627| ## ## ## ## ## ## ## |**MOVEMENT IN FUNDS**||||| |---|---|---|---|---| |||Net|Transfers|| |||movement|between|At| ||At 1.4.20|in funds|funds|31.3.21| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|**1,479,540**|**503,593**|**7,807**|**1,990,940**| |Donated exhibits fund|**41,250**||**−**|**41,250**| |Revaluation reserve|**574,153**||**(7,807)**|**566,346**| ||**2,094,943**|**503,593**|**−**|**2,598,536**| |**TOTAL FUNDS**|**2,094,943**|**503,593**||**2,598,536**| |Net movement in funds, included in the above are as follows:||||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| |**Unrestricted funds**||||| |General fund||**1,126,986**|**(623,393)**|**503,593**| |**TOTAL FUNDS**||**1,126,986**|**(623,393)**|**503,593**| |**Comparatives for movement in funds**||||| |||Net|Transfers|| |||movement|between|At| ||At 1.4.19|in funds|funds|31.3.20| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|203,189|(8,752)|1,285,103|1,479,540| |Donated exhibits fund|41,250|−|−|41,250| |Revaluation reserve|691,249|1|(117,097)|574,153| |Plas improvements −capital grants fund|1,164,367|−|(1,164,367)|| |Winl Ian plant & machinery capital grants||||| |fund|1,765||(1,765)|| |Plas plant & machinery capital grants fund|1,874||(1,874)|| ||2,103,694|(8,751)||2,094,943| |**TOTAL FUNDS**|2,103,694|(8,751)||2,094,943| ## ## ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|846,825|(855,577)|(8,752)| |Revaluation reserve|1||1| ||846,826|(855,577)|(8,751)| |**TOTAL FUNDS**|846,826|(855,577)|(8,751)| |A current year 12 months and prior|year 12 months combined po|sition isas follo|ws:|| |---|---|---|---|---| |||Net|Transfers|| |||movement|between|At| ||At 1.4.19|in funds|funds|31.3.21| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|203,189|494,841|1,292,910|1,990,940| |Donated exhibits fund|41,250|||41,250| |Revaluation reserve|691,249|1|(124,904)|566,346| ||935,688|494,842|1,168,006|2,598,536| |**TOTAL FUNDS**|2,103,694|494,842||2,598,536| ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|1,973,811|(1,478,970)|494,841| |Revaluation reserve|1||1| ||1,973,812|(1,478,970)|494,842| |**TOTAL FUNDS**|1,973,812|(1,478,970)|494,842| ## ## ## ## ## ## ## ## ##