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##
||||||||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||
##
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##
##
##
##
|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|
##
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##
|||||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|
##
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##
##
|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|
##
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#
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##
|||||||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|
##
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##
##
##
##
##
|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|
##
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##
##
##
||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|