2022-03-31-accounts

							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 of cash flows
Notes to the financial statements							10
The following pages do not form part of the financial						statements
Detailed statement of financial	activities						24
Notes to the detailed statement	of financial		activities				26

Reference	and adm	inistrative	inistrative	details
Registered	charity	name		Constitution	Hill Ltd
Charity registration		number		1071422
Company	registration		number	03445246
Principal office and		registered		Cliff Terrace
office				Aberystwyth
				Ceredigion
				SY23 2DN
The trustees
				R Lewis
				R Ricketts
				M Strong
				N Shilton
				R Gray
				M Lowe
				Mr A Davies
Accountants				Francis Gray
				Chartered	accountants
				Ty Madog
				32Queens	Road
				Aberystwyth
				Ceredigion
				SY23 2HN

ial s	tateme	nts:		, ,	) are analysed as f	llows in the
					2022	2021
Staff Staff Staff	costs costs costs	—manager's (Note 13) included in	cost (Note 11 'Covid mitigation	Support costs) and PTP' expense	2 37,435 171,018	38,317 90,974 27,934
Total					208,453	157,225

				2022	2022	2021
				Unrestricted
				funds	Total funds	Total funds
			Note	8	8
Income and endowments
Donations and legacies				51,634	51,634	102,465
Other trading activities				310,581	310,581	106,984
Investment income				18,750	18,750	1
Other income				51,042	51,042	138,308
Total income				432,007	432,007	347,758
Expenditure
Expenditure on charitable	activities		9,10	306,815	306,815	296,952
Total expenditure				306,815	306,815	296,952
Net income and net movement		in funds		125,192	125,192	50,806
Reconciliation offunds
Total funds brought forward				380,998	380,998	330,192
Total funds carried forward				506,190	506,190	380,998

				2022		2021
			Note
Fixed assets
Tangible fixed assets Investments			15 16		599,188 2	502,652 2
					599,190	502,654
Current assets
Stocks Debtors Cash at bank and in hand			17 18	2,800 6,090 29,990		3,200 4,955 39,625
				38,880		47,780
Creditors: amounts	falling due within one year		20	73,201		76,085
Net current liabilities					34,321	28,305
Total assets less current		liabilities			564,869	474,349
Creditors: amounts	falling	due after more than
one year			21		(58,679)	(93,351)
Net assets					506,190	380,998
Funds of the charity
Unrestricted funds					506,190	380,998
Total charity funds			25		506,190	380,998

Year end	ed 31 March	2022
			2022	2021
		Nota
Cash flows from operating activities Net income			125,192	50,806
Adjustments for: Depreciation of tangible fixed assets Dividends, interest and rents from investments Other interest receivable and similar income Interest payable and similar charges Accrued (income)/expenses Group Loan			15,631 (18,750) 7,526 (1,000)	14,963 (1) 3,742 7,000 (2,000)
Changes/n: Stocks Trade and other debtors Trade and other creditors			400 (1,135) (28,325)	18,291 (8,596)
Cash generated from operations			99,539	84,205
Interest paid Interest received			(7,526)	(3,742) 1
Net cash from operating activities			92013	80464
Cash flows from investing activities Dividends, interest and rents from investments Purchase of tangible assets			18,750 (112,167)	(91,979)
Net cash used in investing activities			(93,417)	(91,979)
Cash flows from financing activities Proceeds from borrowings Proceeds from loans from group undertakings			(26,311) 20,208	35,974 (2,396)
Net cash (used in)/from financing activities			(6103)	33578
Net (decrease)/increase in cash and cash Cash and cash equivalents at beginning	equivalents of year		(7507) 36,372	22 063 14,309
Cash and cash equivalents at end of year		19	28,865	36,372

						Unrestricted	Restricted	Total Funds
						Funds	Funds	2022
						8		2
	Donations
	Gift Aid					33,492		33,492
	Grants
	Amortisation		of grant			8,342		8,342
	Welsh Government			Grant
	Co-op Grant					9,800		9,800
						51,634		51,634
						Unrestricted	Restricted	Total Funds
						Funds	Funds	2021
	Donations
	Gift Aid					17,655		17,655
	Grants
	Amortisation		of grant			770		770
	Welsh Government			Grant			59,040	59,040
	Co-op Grant					25,000		25,000
						43,425	59,040	102,465
6.	Other trading		activities
					Unrestricted	Total Funds	Unrestricted	Total Funds
					Funds	2022	Funds	2021
						2
	Ticket sales				310,581	310,581	106,984	106,984
7.	Investment	income
					Unrestricted	Total Funds	Unrestricted	Total Funds
					Funds	2022	Funds	2021
							2
	Income from		group undertakings		18,750	18,750
	Bank interest		receivable
					18,750	18,750

Other inco	me
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2022	Funds	2021
				2
Rent income			29,518	29,518	9,368	9,368
Ceredigion	County Council - COVID
Grant					55,000	55,000
Government	COVID 19Furlough	relief	21,524	21,524	73,940	73,940
			51,042	51,042	138,308	138,308

Expendit	ure on charitable activit	ies by fund type
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2022
		2		6
Test123		211,923		211,923
Support	costs	94,892		94,892
		306,815		306,815
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		2
Test123		148,858	60,546	209,404
Support	costs	87,548		87,548
		236,406	60,546	296,952

Expenditure	on charitable a	ctivities by activity type
		Activities
		undertaken		Total funds	Total fund
		directly	Support costs	2022	2021
		2		6
Test123		211,923	45,300	257,223	251,458
Governance	costs		49,592	49,592	45,494
		211,923	94,892	306,815	296,952

Analysis ofsupp	or	t c	o	sts
										Analysis of
									support				costs	Total 2022	Total2021
													E		F
Staff costs												37,435		37,435	38,317
Premises												35,514		35,514	32,205
Communications	and IT												8,080	8,080	7,805
General office													1,705	1,705	2,044
Finance costs													7,528	7,528	3,742
Governance costs													4,630	4,630	3,435
												94,892		94,892	87,548
Net income
Net income is stated after charging/(crediting):
														2022	2021
Depreciation of tangible			fixed		assets									15,631	14,963
Staff costs
The total staff costs		and		employee		benefits for		the	reporting		period are			analysed as follows:
														2022	2021
Wages and salaries														150,991	111,363
Social security costs														11,383	10,745
Employer contributions			to pension			plans								8,644	7,183
														171,018	129,291
The average head		count		of employees			during	the	year was		8(2021:			7). The average	number of
full-time equivalent		employees			during the year			is analysed		as		follows:
														2022	2021
														No.	No.
Number of full time		staff												8	7

Tangible fixed assets
	Land and	Plant and	Fixtures and	Motor
	buildings	machinery	fittings	vehicles	Total
	E			E	E
Cost
At 1 April 2021	563,459	28,557	157,140	16,794	765,950
Additions	108,647	2,443	1,077		112,167
At 31 March 2022	672,106	31,000	158,217	16,794	878,117
Depreciation
At 1 April 2021	89,689	7,139	153,661	12,809	263,298
Charge for the year	7,663	5,833	1,139	996	15,631
At 31 March 2022	97,352	12,972	154,800	13,805	278,929
Carrying amount
At 31 March 2022	574,754	18,028	3,417	2,989	599,188
At 31 March 2021	473,770	21,418	3,479	3,985	502,652

Investments
	Shares	in
	group
	undertakings
	E
Cost or valuation
At 1 April 2021 and 31 March 2022
Impairment
At 1 April 2021 and 31 March 2022
Carrying amount
At 31 March 2022		2
At 31 March 2021		2

	The subsidiary	undertaking,	undertaking,	undertaking,	Constitution Hill	Trading	Ltd, is	Ltd, is	incorporated	incorporated	in England	&	Wales.
	The nature of	business	is a cafe. Constitution			Hill Ltd	owns	1 00'/o of		the ordinary share capital of
	the company.	There was		a	balance due to Constitution		Hill	Trading		Ltd from the Company			at the
	year end of 217,812 (2021				—E2,396was due	to the Company			from Constitution Hill Trading Ltd).
	A management	charge	of EI8,750 was levied			on Constitution			Hill Trading		Ltd by Constitution Hill
	Ltd in the year	under review, to cover half of				the Manager's			salary cost to		the Company		- this is
	felt to be a fair	allocation		of	cost given the time	spent on the respective duties of each						Company.
												Profit for
									Capital	&reserves		the year
													2
	Constitution Hill Trading		Ltd								25,452	11,761
17.	Stocks
											2022		2021
											2		2
	Raw materials	and consumables									2,800		3,200
18.	Debtors
											2022		2021
											2
	Other debtors										6,090		4,955
	Other debtors consist of:
											2022		2021
											8		2
	VAT repayable										6,090		4,955
19.	Cash and cash equivalents
	Cash and cash	equivalents			comprise the following:
											2022		2021
											2
	Cash at bank and in hand										29,990	39,625
	Bank overdrafts										(1,125)		(3,253)
											28,865	36,372

Creditors: amounts falling due within one year
	2022	2021
	2
Bank loans and overdrafts	31,003	33,131
Trade creditors	6,169	27,297
Amounts owed to group undertakings	17,812	(2,396)
Accruals and deferred income	15,800	16,800
Social security and other taxes	2,417	1,253
	73,201	76,085

Bank loans and overdraf	ts falling due within one yea	r are made up of:
		2022	2021
Nat West loan		12,378	12,378
Co-op Group loan		7,500	7,500
Nat West 'bounce-back'	loan	10,000	10,000
Barclaycard		(613)	(1,771)
Nat West card		(512)	(1,482)
Total		31,003	33,131

		2022	2021
Bank loans and overdrafts		58,022	84,333
Accruals and deferred	income		8,342
Other creditors		657	676
		58,679	93,351

Bank loans and overdrafts falling due after more th	an one year are made up of:
	2022	2021
Nat West loan	(13,088)	(24,458)
Co-op Group loan	12,875	19,875
Nat West 'bounce-back'loan	32,059	40,000
Total	(58,022)	(84,333)

		2022	2021
		2
At 1 April Amount	2021 released to income	8,342 (8,342)	34,112 (25,770)
At 31 March 2022			8,342

Unrestri	cted funds
								At
			At				31	March 202
		1	April 2021	Income	Expenditure	Transfers		2
General	funds		380,998	2 432,007	(306,815)	9		2 506,190
								At
			At				31	March 202
		1	April 2020	Income	Expenditure	Transfers		1
			2			2		2
General	funds		330,192	288,718	(236,406)	(1,506)		380,998

Analysis ofnet as	se	ts between funds
			Unrestricted	Total Funds
			Funds	2022
			2	2
Tangible fixed assets Investments			599,188 2	599,188 2
Current assets			38,880	38,880
Creditors less than 1 Creditors greater than		year 1 year	(73,201) (58,679)	(73,201) (58,679)
Net assets			506,190	506,190
			Unrestricted	Total Funds
			Funds	2021
Tangible fixed assets Investments			502,652 2,398	502,652 2,398
Current assets			47,780	47,780
Creditors less than 1 Creditors greater than		year 1 year	(78,481) (93,351)	(78,481) (93,351)
Net assets			380,998	380,998

Analy	sis of changes in net debt
					At
		At1 Apr2021	Cash flows	31	Mar 2022
					2
Cash	at bank and in hand	39,625	(9,635)		29,990
Bank	overdrafts	(3,253)	2,128		(1,125)
Debt Debt	due within one year due after one year	(27,482) (84,333)	(20,208) 26,311		(47,690) (58,022)
		(75,443)	(1,404)		(76,847)

					2022	2021
					2
Income and	endowments
Donations and legacies Gift Aid					33,492	17,655
Amortisation	of grant				8,342	770
Welsh Government		Grant				59,040
Co-op Grant					9,800	25,000
					51,634	102,465
Other trading	activities
Ticket sales					310,581	106,984
Investment income
Income from	group undertakings				18,750
Bank interest	receivable
					18,750
Other income
Rent income					29,518	9,368
Ceredigion County Council			- COVID Grant			55,000
Government COVID		19Furlough		relief	21,524	73,940
					51,042	138,308
Total income					432,007	347,758

	Year ended 31 March 2	022
		2022	2021
			2
Expenditure
Expenditure on charitable activities
Opening stock		3,200	3,200
Closing stock		2,800	3,200
Wages and salaries		150,991	111,363
Employer's NIC		11,383	10,745
Pension costs Rates and water		(8,644) 1,485	(7,183) 841
Light and heat		7,175	7,644
Repairs and maintenance		32,452	30,832
Insurance		26,932	22,479
Motor vehicle expenses		5,095	3,385
Legal and professional	fees	13,619	10,583
Telephone		8,081	7,805
Other office costs		1,705	2,044
Depreciation		15,631	14,962
Other interest payable	and similar charges	7,526	3,742
Advertising		2,373	1,262
DetailedSOFAExpenditureOnCharitableActivitiesType3H		3,064	1,536
DetailedSOFAExpenditureOnCharitableActivitiesType4H		10,259	60,546
		306,815	296,952
Total expenditure		306,815	296,952
Net income		125,192	50,806

					2022	2021
					6
Expenditure	on charitable			activities
Test123
Activities undertaken			directly
Opening stock					3,200	3,200
Closing stock Staff wages/salaries					(2,800) 117,043	(3,200) 76,627
Employer's NIC					7,895	7,164
Pensions					8,644	7,183
Rates					1,485	841
Repairs & maintenance					28,128	28,352
Cleaning					2,917	398
Motor vehicle	expenses				5,095	3,385
Professional	fees				8,989	7,148
Depreciation					15,631	14,962
Advertising					2,373	1,262
Subscriptions					3,064	1,536
Covid 19mitigation		and	PPE		10,259	60,546
					211,923	209,404
Supportcosts Light &heat					7,175	7,644
Equipment hire					4,324	2,480
Insurance					24,015	22,081
Telephone Other office	costs				8,081 1,705	7,805 2,044
					45,300	42,054
Governance	costs
Management	salaries and			wages	33,948	34,736
Employers NIC					3,488	3,581
Accountancy	fees				4,630	3,435
Other finance	costs				7,526	3,742
					49,592	45,494
Expenditure	on charitable			activities	306,815	296,952