##
##
##
|||||||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|ited by Gua
ofCash Fl
31 llllarch|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|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|5.|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|