2021-03-31-accounts - Constitution Hill Ltd

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

						Page
Trustees' annual report (incorporating			the	director's	report)
Chartered accountant's report		to the	board	of trustees on the
preparation ofthe unaudited statutory			financial statements
Statement of financial	activities	(including		income and
expenditure account)
Statement of financial	position
Statement ofcash flows
Notes to the financial	statements					10
The following pages	do not form part ofthe financial statements
Detailed statement of	financial	activities				25
Notes to the detailed	statement	offinancial		activities		27

ial s	tateme	nts:
					2021
Staff	costs	- manager's	cost (Note 11	Support costs)	38,317
Staff	costs	(Note 13)			90,974
Staff	costs	included in	'Covid mitigation	and PTP' expense	27,934
Total					157,225

		dd	31 March 2	021
	Year	ene					2020
				2021
		Unrestricted funds		Restricted funds E	Total funds f Total funds 6
Income and endowments Donations and legacies Other trading activities Investment income Other income		Note	43,425 106,984 1 138,308 288,718	59,040 59,040		102,465 106,984 1 138,308 347,758	14,703 245,664 16,029 276,396
Total income Expenditure Expenditure on charitable	activities	910	236 406 236,406	60,546 60,546		296,952 296,952	282,231 282,231
Total expenditure			52,312	(1,506)		50,806	(5,835)
Net incomel(expenditure)			(1,506)	1,506
Transfers between funds			50,806			50,806	(5,835)
Net movement in funds Reconciliation of funds Total funds brought forward			330,192 380,998			330,192 380,998	336,027 330,192
Total funds carried forward						hear

Company Lim Statement Year ended	rantee ows 2021
			2021	2020
	Note		6	E
Cash flows from operating activities			50,806	(5,835)
Net income/(expenditure)
Adjustments for: Depreciation of tangible fixed assets Government grant income Other interest receivable and similar income Interest payable and similar charges Accrued expenses			14,963 (1) 3,742 7,000 (2,000)	8,652 (25,000) 3,644 18,000
Group Loan
Changesin: Trade and other debtors			18,291 (10,992)	(21,166) 30,102
Trade and other creditors			81,809	8,397
Cash generated from operations			(3,742)	(3,644)
Interest paid Interest received			1 78,068	4,753
Net cash from operating activities
Cash flows from investing activities Purchase oftangible assets			(91,979) (91,979)	(40,538) (40,538)
Net cash used in investing activities
Cash flows from financing activities Proceeds from borrowings Government grant income Payments of finance lease liabilities			35,974 35,974	21,197 25,000 (5,831) 40,366
Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning ofyear Cash and cash equivalents at end ofyear		19	22,063 14,309 36,372	4,581 9,728 14,309

Donations and	Donations and	Donations and	legacies	legacies			Unrestricted Funds	Unrestricted Funds	Restricted Total Funds Funds 2021	Restricted Total Funds Funds 2021
								F	F
	Donations							17,655		17,655
	Gift Aid
	Grants Amortisation of grant Welsh Government Grant							770 25,000	59,040	770 59,040 25,000
	Co-op Grant							43,425	59,040	102,465
							Unrestricted Funds		Restricted Funds	Total Funds 2020
										F.
	Donations							14,318		14,318
	Gift Aid
	Grants							385		385
	Amortisation	of grant
	Welsh Government			Grant
	Co-op Grant							14,703		14,703
6.	Other trading Ticket sales		activities				Unrestricted Funds F 106,984	Total Funds 2021 E 106,984	Unrestricted Funds F 245,664	Total Funds 2020 F 245,664
7.	Investment		income				Unrestricted Funds F	Total Funds 2021 E	Unrestricted Funds E	Total Funds 2020 F
	Bank interest receivable				type	1	1	1

Other inc	o	me
								Unrestricted	Total Funds	Unrestricted	Total Funds
								Funds	2021	Funds	2020
											F
Rent income								9,368	9,358	16,029	16,029
Ceredigion		County		Council	- COVID
Grant								55,000	55,000
Government		COVID 19Furlough				relief		73,940	73,940
								138,308	138,308	16,029	16,029
Expenditure		on	charitable		activities		by	fund type
									Unrestricted	Restricted	Total Funds
									Funds f	Funds f	2021 f
Charitable	activities								148,858	60,546	209,404
Support costs									87,548		87,548
									236,406	60,546	296,952
									Unrestricted	Restricted	Total Funds
									Funds	Funds	2020
									F
Charitable	activities								200,273		200,273
Support costs									81,958		81,958
									282,231		282,231
The expenditure			incurred was as			follows

Expenditur	e on charitable ac	tivities by activity typ	e
		Activities
		undertaken		Total funds	Total fund
		directly	Support costs f	2021 f	2020
Chantable	activities	209,404	42,054	251,458	236,605
Governance	costs		45,494	45,494	45,626
		209,404	87,548	296,952	282,231

			Analysis of
			support costs	Total 2021	Total 2020
			F		8
Staff costs			38,317	38,317	38,472
Premises			31,725	31,725	30,041
Communications		and IT	7,805	7,805	1,983
General office			1,404	1,404	4,308
Finance costs			3,742	3,742	3,644
Governance	costs		3,435	3,435	3,510
			86,428	86,428	81,958

Net income/(e	xpenditure)	is s	tated after charging/(creditin	g):
				2021	2020
Depreciation	oftangible	fixed	assets	14,963	8,652

Staff cos	ts
The total	staff costs and	employee	benefits	for the reporting	period are analysed as	follows:
					2021	2020
						f
Wages and salaries					111,363	137,660
Social security costs					10,745	11,161
Employer	contributions	to pension	plans		7,183	3,020
					129,291	151,841

full-time	eq	uivalent	employees during the year is	analysed as follows
				2021	2020
				No.	No.
Number	of	full-time	staff	7	8

Tangible fixed assets
	Land and	Plant and	Fixtures and	Motor
	buildings	machinery	fittings	vehicles	Total
	F	F
Cost
At 1 April 2020	500,037		157,140	16,794	673,971
Additions	63,422	28,557	—	—	91,979
At 31 March 2021	563,459	28,557	157,140	16,794	765,950
Depreciation
At 1 April 2020	84,354		152,501	11,480	248,335
Charge for the year	5,335	7,139	1,160	1,329	14,963
At 31 March 2021	89,689	7,139	153,661	12,809	263,298
Carrying amount
At 31 March 2021	473,770	21,418	3,479	3,985	502,652
At 31 March 2020	415,683		4,639	5,314	425,636

Investments
	Loans to	Shares	in
	group	gloup
	companies	undertakings		Total
	E
Cost or valuation
At 1 April 2020	396			398
Additions
Transfers	2,000			2,000
At 31 March 2021	2,396			2,398
Impairment
At 1 April 2020 and 31 March 2021
Carrying amount
At 31 March 2021	2,396		2	2,398
At 31 March 2020	396		2	398

								Profit for
							Capital &reservesf	the year f
	Constitution	Hill Trading		Ltd			13,691	12,316
17.	Stocks
							2021	2020
							F
	Raw materials		and consumables				3,200	3,200
18.	Debtors
							2021	2020
								F
	Other debtors						4,955	23,246
	Other debtors		consist of:
							2021	2020
							F
	VAT repayable						4,955	5,805
	Accrued income (Gift aid)							9,000
	Deposit paid	in advance						8,441
	Total Debtors						4,955	23,246
19.	Cash and cash equivalents
	Cash and cash		equivalents		comprise	the following:
							2021 f	2020 f
	Cash at bank	and in hand					39,625	16,291
	Bank overdrafts						(3,253)	(1,982)
							36,372	14,309

			2021	2020
			F
Bank loans and	overdrafts		33131	21,860
Trade creditors			27,297	10,799
Accruals and deferred		income	16,800	9,800
Social security	and other taxes		1,253	3,074
			78,481	45,533

Bank loans and overdraf	ts falling due within one yea	r are made up of:
		2021	2020
		F
Nat West loan		12,378	12,378
Co-op Group loan		7,500	7,500
Nat West 'bounce-back'	loan	10,000
Barclaycard		1,771	683
Nat West card		1,482	1,299
Total		33131	21,850

		2021	2020
		F	F
Bank loans and overdrafts		84,333	58,359
Accruals and deferred	income	8,342	34,112
Other creditors		676	575
		93,351	93,046

Bank loans and overdra	fts falling due after more tha	n one year are made up of:
		2021	2020
Nat West loan		24,458	35,859
Co-op Group loan		19,875	22,500
Nat West 'bounce-back	'loan	40,000
Total		84,333	58,359

Deferred	income
			2021	2020
At 1 April	2020		34,112	9,882
Amount	released	to income	(25,770)	(770)
Amount	deferred	in year		25,000
At 31 March 2021			8,342	34,112

Government	grants
The amounts	recognised	in the financial statements	for government	grants are as follows:
				2021	2020
				E	6
Recognised	in creditors:
Deferred government grants due after more than one year				8,342	9,112

			At				At
		1	April 2020 E	Income f	Expenditure F	Transfers E	31 March 2021 5
General	funds		330,192	288,718	(238,406)	(1,506)	380,998
			At				At
		1	April 2019 F	Income E	Expenditure E	Transfers F	31 March 2020 f
General	funds		336,027	276,396	(282,231)		330,192

Restricted	funds
				At						At
		1	April	2020	Income f	Expenditure f	Transfers f	31	March	2021 f
Restricted	Fund				59,040	(60,546)	1,506
				At						At
		1	April	2019 F	Income f	Expenditure F	Transfers	31	March	2020 F
Restricted	Fund

Analysis of net as	se	ts between funds
			Unrestricted	Total Funds
			Funds	2021
			E
Tangible fixed assets			502,652	502,652
Investments			2,398	2,398
Current assets			47,780	47,780
Creditors less than	1	year	(78,481)	(78,481)
Creditors greater than		1 year	(93,351)	(93,351)
Net assets			380,998	380,998
			Unrestricted	Total Funds
			Funds	2020
				F
Tangible fixed assets			425,636	425,636
Investments			398	398
Current assets			42,737	42,737
Creditors less than	1 year		(63,033)	(63,033)
Creditors greater than		1 year	(75,546)	(75,546)
Net assets			330,192	330,192

Analy	sis ofchang	es in net debt
						At
			At	1 Apr 2020	Cash flows	31 Mar 2021
					F	6
Cash	at bank and	in hand		16,291	23,334	39,625
Bank	overdrafts			(1,982)	(1,271)	(3,253)
Debt	due within one year			(19,878)	(10,000)	(29,878)
Debt	due after one	year		(58,359)	(25,974)	(84,333)
				(63,928)	(13,911)	(77,839)

				2021	2020
				8	5
Income and	endowments
Donations and legacies
Gift Aid				17,555	14,318
Amortisation	ofgrant			770	385
Welsh Government		Grant		59,040
Co-op Grant				25,000
				102,465	14,703
Other trading activities
Ticket sales				105,984	245,664
Investment income
Bank interest	receivable
Other income
Rent income				9,358	16,029
Ceredigion County Council - COVID Grant				55,000
Government	COVID	19Furlough	relief	73,940
				138,308	16,029
Total income				347,758	276,396

				2021	2020
				6	6
Expenditure
Expenditure on charitable			activities
Wages and salaries				111,363	137,660
Employer's NIC				10,745	11,161
Pension costs				7,183	3,020
Rates and water				841	2,200
Light and heat				7,644	8,154
Repairs and maintenance				30,832	56,268
Insurance				22,479	24,679
Motor vehicle expenses				3,385	5,224
Legal and professional		fees		10,583	10,873
Telephone				7,805	1,983
Other office costs				2,044	4,308
Depreciation				14,962	8,652
Other interest payable		and similar charges		3,742	3,644
Advertising				1,262	3,346
Eubscriptions				1,536	1,059
Covid-19 mitigation	and PPE			60,546
				296,952	282,231
Total expenditure				296,952	282,231
Net income/(expenditure)				50,806	(5,835)

					2021	2020
Expenditure	on charitable			activities
Activities undertaken			directly
Staff wages/salaries					76,627	102,807
Employer's	NIC				7,164	7,542
Pensions					7,183	3,020
Rates					841	2,200
Repairs 8 maintenance					28,352	56,268
Cleaning					398	2,792
Motor vehicle expenses					3,385	5,224
Professional	fees				7,148	7,363
Depreciation					14,962	8,652
Advertising					1,262	3,346
Subscriptions					1,536	1,059
Covid 19mitigation		and	PPE		60,546
					209,404	200,273
Support costs
Light & heat					7,644	8,154
Equipment hire					2,480
Insurance					22,081	21,887
Telephone					7,805	1,983
Other office	costs				2,044	4,306
					42,054	36,332
Governance	costs
Management	salaries and wages				34,736	34,853
Employers NIC					3,581	3,619
Accountancy	fees				3,435	3,510
Other finance costs					3,742	3,644
					45,494	45,626
Expenditure	on charitable			activities	296,952	282,231