Company registration number. 03663661 Charity registration number.. 1073317 Community Arts Rhayader and District IA compony limited by guaronleel Annvol Report ond Finonciol Statements for the Year Ended 31 March 2021 Illllllll *AAGLLZEI' 0511112021 COMPANIES HOUSE A17 #126 Community Arts Rhayader and Disfrlcl Contents Reference and Adminislrotive Detoits Trvstees, Report 2107 statement of Twslees. Responsibilities Independent Examine￿$ Report 9tolO Stalement of Financial Activitie5 Balance Sheel 12to13 Notes to the Financiol Sfolemenls 14to27 Communlty Arts Rhayader and Dlstrlct Reference and Adminlstralive Detalls Twslees C J Ajlon K Boss Pcox Hmcury M Elsler T L Mitchell JAETyler J Worgan Unil 2 Eost Street Enterprise Por* East Street Rhoyoder Powys LD6 SER Reglslered Offlce The charily is Incl￿pOrated in Englond and Wales. Company Regi$trotion Number 03663061 Charlty Reglstratlon Numbei 1073317 Independenl Examiner Mitchell Meredith Limited Chartered Accountants The Exchange livewoys Temple Street Llondrindod Wells Powys LDI 5HG Poge I Communlty Arts Rhayader and Dlslrfcl Truslees. Report The trv5tees. who are directors lor the purposes of company low. present the annuol report together wilh the finonciol stolements of the charitable compony lor the yeor ended 31 March 2￿21. Govemlng document The company is a registered charity and is limifed by guorantee and does nol hove o shore capitol. Eoch member of the compony vndertakes to contribute such omounls as moy be required. not exceeding £1. Advantage has been taken of Section 30 01 the ComFY]nies Act 1985 exempting the company from the requirement to show Limited in its rbame. The company is govemed by its Memorondum ond Articles of Association. Covid 2020 In April 2020. 01 the slart of this finonciol yeor. we hod o full progromme of events ond future pkjns wth fvnding bids to support them in development. We were working hard to keep vp with the day-to-doy monagement of the orgonisolion and the delNery of its projects. Then. olong with most of the res1 ol the country. everything stopped. plans were cancelled and we had to gel used to suddenly empty days and m￿e vncertointy thon usuol 05 the first Covid lockdown was announced. We adjusted our personol lives and began lo look ahead again. Trustee and fellow co-director. Krysia Boss and I come in. initiolly once or ￿lce a week. moniloring emails and checking the bvildings. Icovid didn't protected us trom the usuol boiler ailment5. leaky pipes. leaky roofs and mainlenance problem5.1 We increased OUT days in over the year as plcnning. funding applications and activity increosed. Lockdown was on exceplionol period of time where our usual income streams were losl. to be replaced by govemment ond other grants and plans to goin new income were mode. We were very groteful for the 5totulory ond charitable funding we received. which enobled us not only to survive the period of closure, but also to be oble to ￿an lor the fvlure. Our plans were cancelled and remade. IK B. C scenorios. whol its.) We reviewed the orgonisotion's constitvtion ond IcKword plon. We generolly looked at how fit for pw05e we were ond how we could best seThe our community. oll whilst keeping vp lo dale with Tegvlotions and sofety odvice. This time to review and plan. (along wilh being dragged into C21st digital worldl has probobly been the greotest benefil to Ihe w(xk of the chority. Volunteers ond Trustees We kept commvnicoting wth volunteets via emoil and phone ca115 to those we knew were vvlnerable. We ensured thot CARAD'5 Other Trustees had regulor updates via emails ond, where necessary. phone calL% to infom our decision moking where decisions were not just operotionol. Our AGM this year wos held vio Zoom. o meeting tool with which we become all too fomiliar over the yeor. After the oppointmenl of a Digital Officer. ovr ability lo reach our community and volunleers was transformed ond greotly extended. Ovr new newsletter sign ups from the websile hove grown steadi￿ ond sland ol 156 &gn ups by the end of March 2021. Poge 2 Community Arts Rhayoder and Distrlcl Trustees. Report stoffing At the slart of the first lockdown our Adminislrotor, Sobrino Codmon. tlled working trom home. but with three boys. it became rapidly clear thol she would have to be furloughed. She left u5 jU5105 the fiTS1 lockdown wos ending. f(x o job wilh more hovis Ihon we were oble to offei. We were sod to see her go ond wish lo Ihonk her for her work wilh us. She wos replaced by Nooko Takiguchi. who we had FKeviously inlerviewed for the posl, who in turn was lurloughed during Ihe second lockdown. Ovr Finonce Officef. Michelle Thomas, was inlermillenlly furloughed and brought bock out al short notice to creote budgets. finonciol forecasts ond colculations to support vorious funding bids, for which we thank her. Our cleoner Anilo Woods w05 fvdoughed. In October. we were fortunole lo receive funding from Welsh Government vio PAVO lor o Digital officer. Asler Woods. She hod o baptism ol fire. hoving to Tebuild our web site and Sort out emoils after we were hocked the doy ofter she was appointe¢J. She took our communication5 in hond ond revived our sociol medio plalfoms.. Facebook. Twtter. Instagrom and You Tube and made them fit for purpose. She creoted our regulor newslelter ond ron and designed wth vs our digilol projects. We wish to thonk her for the extro work and dedication she h05 Pvt into herjob. Activity I will start with the digital projects we have run. Initially, we ron two projects vio Facebook ond emorf.. the first W05 on invitation lo complete diary entries or find other creotive responses lo Covid. and the second was a sewing project of creoling o potch which 5ymbolised hope. 41 of these were made. sewn into o quilt and disployed in the Mu5evm window. After the appointment of the Digital Officer in Oclober, digital engogement P055ibilities reolly opened up. We worked with a local storyleller Kama Roberts. to develop a sefies of online 'CelNc Storytelling Evenlngs., relelling locol stories and myFh5. The storytelling evenings followed the Celtic Festival year and we offered an opportunity at each one for local omaleur storytellers to porlicipale ond tell a story. This kyoved translonnolive for one local person who went on lo wrile and tell her own story and who hos spoken of how mvch less isoloted ond depressed they felt as a result. We invited storytellers. poets and mvsieians from Ireland oné Scotlond ond. with eoch evening. we hove ottrocted more nationolly known storytellers and oudiences. Edited films of the evenings are on our website and You Tube channel. For the evenings in this financial yeor, we had 3)7 ottendees. We hope to keep the events and connections and portnerships made wilh our Scottish ond Irish organisations and practitioners going into the future. In our catching up wilh archiving. we hove looked again at some of our archive films. Some have been put onto our You Tvbe channel ond some ore being lined up lo be shown in ovr new. monthly, 'CARAD Film Club.. Some previousty unedited foologe hos been edited ond will now be oble to be shown. This is ongcHng. Page 3 Communlty Arts Rhayader and Dlstrlcl Truslees, Report We have started o feoture called. 'CARAD Artist of Ihe Month.. to showcase local artists. We also asked them lo creale a filmed workshop. Strong themes of creative techniques lor coping. health and wellbeing came ovl of these workshop5 along with o won(Jerful opportunity lor artists to showcase ther work and eam a small amount in a difficutrl lime. hrtists were 055i51ed in technicol aspects of filming and. in one cose. helped lo creote o websile so thal they could show their work. In this finoncial yeor. we feotured 2 ortists, hod 95 people porticipaling in the wortshops and l 0.486 social media inleroclions. This project is ongoing. We have started an 'ObJe¢t In Focus. strond. which focusses on a parheulor item from our collections ornd gives people on opportunity to leam about the objecl and its context in more detoil and to take part in themed le(wning octivilies and crafts. Thi5 15 0150 on our website ond social medio pages and is ongoing. Additional funding has enobled u5 to l)ove much greater use ol Welsh on our online platlorm5 and printed moleriol5. In December. we received lunding from the Community Cohesion progromme to create a film from a series of inteNiews of local people recorded over Zoom. The film 'Trodltlons and Changes.. looked ot people's experiences ol life in lockdown. talk oboul Christmoses from their post ond at Christmoses Iheir parents would hove experienced. We wanted to bring a commvnolify of experiences from people of different backgrounds who now live in Rhoyoder. For thi5. we olso filmed and phologrophed the Chrislwnos lighls on New Year'5 Eve. Normally, the town clock al midnight would be suThounded by people celebroting. This year, there was no one. It made for o poignant start for our film. We hove added it to an orchive of experiences of how Covid olfected people. 13 people were filmed ond their inleNiews Ironscribed. The film hod 9.8AXI intemet reach wth interoctions ond 6 written I photographic contributions. One ol the ongoing and pleasing digital creolion5 15 the 'Drogon Club,. This 15 a free forlnightly online club lor oll oges. but Fyincipally oimed al children. This hos devek)ped over the year, wilh a ol local history. heritage ond nalurol wortd infomiotion, themed oclivilies, crafting and arts projects. Ihemed digitol colouring and digital jigsows. Numbers continue to grow steadily eoch month ond cvrrenlly stond at 28 for this finoncial yeor. Overoll, our digitcl octivity has enabled us to reoch o much greoter oudience, o more diverse range ond ages of people and wll enoble us to be more visible when we reopen. Below l include o stotisticol report for the Sociol Development Moving Foword Fund which enabled many ospects ol the dgilal work lo happen from mid October 2020 - March 2021 6.395 visitors have engaged with OLff website pages that contain rich content i.e. activities. videos. onylhing inleroctive_ 98% of the troffic was from Sociol Media posts and the remaining 8% Irom our newsletter and #Dragonclvb moiloul. We had 1.486 unique views on YouTube vKleos contoining content. New Digital Reoch & Engogemenl= Our sociol medio reach went from under s.c(￿ to just under 15.tw in those 6 months. Poge 4 Communty Arts Rhayader and Dlstrlct Trustees. Report The amount of people who have seen our post5 online. ond perfonned an oction such os viewing, liking or followng ovr poge. reacting to the p05t itself Ilike5. comments. shares etcl or clicked o link. or wolched o video (including stories) for longer thon 3 seconds went from the very low hundred5 lo just under 3.C(M). We conducted on ononymous online suNey to meosvre Ihe effects of our wellbeing projects- 79.41 % of peop￿ Toted our online octivities 0$ good/excellenl. 61.76% of people roted our online aclivilies 05 hoving positive effects on their wellbeing. 41 .18fo of people roled our online oclivilies as having posilive effects on their wellbeing to the point where they Ofe le55 like￿ to seek wellbeing support elsewhere. In other acllvty: We received funding from the Coronavirus Resilience Fund via the Community Foundation Wales for a new trailer for ovr large copper dragon sculpture. We normolly base many aclivitie5 oround this sculpture ond rKocess il and lake it lo even15. The old troller hod collapsed and was no longer rood worthy. We ore planning activities Ihis summer, 2021. subject to restrictions lifting. This Iroiler will enobb that and much future aclivity lo happen. Moor)donce Foundotion fvnded a new vldeo comera for wh￿h we hove hod training in from a locol filmmaker. This is oLs0 of long-tem benefit for future filmmaking projecls in o community. We cieoted 80 free actlvlty packs for kjcal children to be distributed via the ￿cheS Community Support ot Christmos. They olso pvl them into foodbank boxes where it wos known thot there were children in Ihe famity. We have storted to insloll an outdoor exhlbition space. funded by Fund ond the Welsh Government to make sure we can ot leost hove on exhibition lor visitors lo see over the summer of 2021 os we wll not be oble to reopen dve to Mvseum redevelopmenl Isee below.1 We cre developing on onllne shop to help to svpplemenl our income. We Spent some time preparing our Theotre building for o relum to 'normol' activity. wilh extra cleoning. PPE. floor marking. notices etc. Only two classes resumed with reduced numbers. Most groups ond closses hove nol returned as Iheir leaders feel it is eilher not vioble lo run f the ollowed numbers or they belong to notionol organisations who cannot return to meeling yet eg Gvides or their members are still wary of reluffting. Poge 5 Communlty Arts Rhayader and Dlstrict Trvslees, Report Museum and T I Al the very end of this finoncial yeor. we received notice that we had been successful in gaining the We15h Govemmenl. 'Tran5formolion5'. capital gront lo enab￿ us to pvl o new floor into the Museum and re design the displays and installations in on oreo which will be four times cs big. This will enable us to tell o much more comprehensive story ol our area and cover subjects highlighted in our community consvllolion. 11 wll olso enable us Io Cfeote a safer flow through the building5 and displays. The building work will start in July 2021 olongside the design work. where we will be working wth o designer and interested members of the community lo creole the best outcomes for visitors. The Ashley Fomily Foundotion is funding the posl of Designer and supporling other aspects of the design process. This meon5 Ihal we will no longer be able lo house the T l. We were however able to contribule lo Ihe new Tourism Morketing Strotegy for Rhayoder and were involved in consultotions to creote o new T I digital point and website for the town. We will not therefore reopen until Easter 2022. Parlnenhips In January, we resume¢J planning for the Rhos Paslures Pfoject. We are delivering Ihe arts, heritoge and community engagement elements for the Rodnorshire Wildlife Trvst. This three-year project wll now be a two yeor one os it Wos fvnded by European funding. A member of stoff hos been oppointed and planning for octivities has started. Elan Link5. The project was suspended and sloff fLffloughed with very litlle octivity hoppening. We held discussions as lo the stole of rxoject elements we were responsible for delivering and plonned for adjusting to k)osing o yeor of octivity and output5. Trolnlng Allhough maintoining staff training hos been problematic as 'real wortd, events, we hove taken odvontoge ol online courses in.. Morketing. Fundraising. Welsh LangLTage ond Welsh Longvoge Embedding. Sociol Engogement. Project evaluation. Projecl feedbock and Cose study writing, Meaningful Consultation wlh Children and Familffts. Engaging wilh Ethnicolly Diverse Young People. Budgeting Your Pfoiect. Digilol PoI￿Y ond Plonning ond Unlocking ovr Sound heritage. In oddition. our Digilol Otficer hos delivered both tailored ond generol digital coutses ond Iraining in using online platforms and digital media. We also held on in person training evening on using our new video camera. Looklng aheod The Museum development will creole a bigger visitor attroclion. which is more relevont ond interesting lo o wder ronge ol visitors. 11 will also ollow us to develop our educolional offer ond work wilh locol schools. 11 will txovide o signific0nt￿ enhanced cvlturol instilvtion, 0$ well as a more significant ond otlroctive wet weather deslinotion for an orea which hos few such indoor places. Poge 6 Communlfy Arts Rhayader and Dislrict Trustees, Report We are still continuing our onfine activities and wll be rvnning wholeveT in peison aclivilie5 we ore ab￿ to. in line with the current corona virus rules ond 50fe proctice. We ore olso loo￿ng lo￿ard to cfeoting our educationol progromme over the next yeor. We will also be seeking funding lo find Senior stoff to ensure o smooth succession as Truslee directors ore ot the limit of whot they can manoge. given the growtrh ol the orgonisotion. We ore aclively looking to engage younger volunteer5 ond Trustees. The annuol repiyl was opproved by the trustees of Ihe chority on .. its beholl by.. ond signed on C J Allan Trustee Poge 7 Community Arts Rhayader and Dislrfct stalemenl of Trvslees, Responslblllties The trustees (who are also the directors of Commvnity Arts Rhayader and District for the purposes ol compony lowl ofe responsib￿ for preparing Ihe trustees. report and the finonciol statements in accordance wsth the United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounling Procticel and applicable law and regvlation5. ComFX]ny low reqvires the trustees lo prepare financial slatements for eoch financicl year. Under company law Ihe trustees must not approve Ihe linanciol Statements unless they are satisfied thol they give a true ond fair view of the slate ol affairs of the charilable compony ond of ils incoming resources ond opplicotion of resources. including its income and expenditure. for Ihol period. In prepaiing these financial statements, the truslees ore required to= select suitable accounting policie5 and apply them con51Stenlly', observe the methods and principles in the Charities SORP- make judgements and estimote5 that are re050noble ond prudenl,. state whelher applicoble UK Accounting Standord5 have been followed. subject to any molerial departures disclosed and exploined in the linanciol slatements.. and prepare the financial statements on the going concern bosis unless it ts inappropriate to presume that the charitable company V￿11 continve in business. The tnjstees are responsible lor keeping adequate accounting records Ihol are sufficient lo show and exploin the choritable company's transactions and disclose with reosonable occuracy at any lime the finonciol position of the chariloble compony on(J enoble them to ensure thot the finonciol stotements compty wilh the Componies Act 2006. They ore 0150 responsible for sofeguarding the assets of Ihe charitable company and hence for taking reasonable steps for the prevention ond detection of fravd ond other irregulorities. Page 8 Communlty Arts Rhayader and Dlslrict Independenl Examinerfs Report to the trvslees of Community Arts Rhayader and Dlslrlct I report on the occounls of the chority lor the ye(x ended 31 March 2021 which ole set ovt onpagesllto27. Respective responsiblllles ot trustees ond exomln The twstees Iwho ore olso the direct(ys of the company for the pvrposes of company lowl are responsible for the preporation ol the occovnts. The trustees consider that an audit is not required for this year under section 144121 of Ihe Charilies Act 2011 (the 2011 Act) ond Ihot an independent examination is needed. Hoving satisfied myself that the charity is not subject to ovdit under compony low ond is eligible for independent examination. it is my responsibility to= exomine the accounts under section 145 or the 2011 Act: to lollow the procedures laid down in the generol Directions given by the Chority Comrni55ion under section 145151 Ibl ol the 2011 Act.. and to State whether porticvlar matters hove come to my attention. Basls of independent exominer's report My examination was carried out in occordonce wlh the general Directions given by the Charity Commission. An examinolion inclvdes o review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It olso includes considerofi'on of any unusual items or disclosvres in the accounts. ond seeking explonotions from yov 05 trustees conceming any svch mallers. The procedures undertaken do not provide oll the evidence Ihot would be required in an oudil ond consequently no opinion is given os to whelhef the accounls present a 'true ond fair view. ond the report is limited to those motlers set out in the stolement below. Page 9 Communty Arts Rhayader and DSstrlct Independent Examinel's Report to the truslees of Communlty Arts Rhayader and Dlstrlcl Independent examlner's slaternenl In connection with my exomination. no matter hos come to my otlention-. Illwhich give% me reosonoble couse to believe thot in ony moterial respecl the requirements.. lo keep accovnling records in accordance with section 386 01 the Componies Act 2(X)6: ond lo prepore occounts which occord with Ihe occounling records. comply with the occovnting requiiement5 of section 396 of the Companies Act 2￿6 and with the method5 and pllnciple5 01 the Statement of Recommended Pract￿e. Accounting ond Reporting by Charities hove not been mel.. or 12lto which. in my opinion. attention should be drawn in order to enoble o propel understanding of the occounls to be reached. T Richoréson Mitchell Meredith Limited Chortered Accountonts The Exchange Fiveways Temple Street Llandrindod Wells PowysLOI 5HG Date.. Page 10 Community Arts Rhayader and Districl statement of Flnoncial Acllvlltes for the Year Ended 31 March 2021 (Includlng Income and Expenditure Account and Slatemenl ol Total Recognised Gains and Losses) Ufireslrlcled fvnds Restrfcled fvnds Tolal 2021 Total 2020 Nole Income ond Endowments from: Donations and legocies Choritoble activities Investment income 69.867 4.788 53.679 123.546 4.788 52.984 22.049 38 Totol Income 74.658 53.679 128.337 75,071 Expenditure on: Roising funds Charitable oclivities 14431 30,038 14431 60,861 14791 68.758 30,823 Tolal Expenditure J.481 30,823 61,304 69,237 Net income 44.177 22.856 67.033 5,834 Net movement in Ivnds 44.177 22.856 67.033 5,834 ReconcllloNon ol funds Total funds brought forward 47.372 304.927 352.299 346.465 Totol funds carried forward 19 91.549 327.783 419.332 352,299 AJI of Ihe chority's oclivities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 19. Pogell Community Arts Rhayader and Dlstrlct (Reglslrallon nvmber. 03663661) Balance Sheet as al 31 March 2021 2021 2020 Note Flxed ass•ts Tangible assets CvNent assets Stocks Debtors Cash at bonk ond in hond 15 326.670 328,499 16 17 3.089 248 96.197 2.773 766 27.290 99.534 30.829 Cfedltors.. Amounts fallng due wllhin on• y•or 18 16.8721 17.0291 Net cvThent assets 92,662 23.800 Nel assets 419.332 352,2?9 Funds ol Ihe charfty: Resfrlcted Income funds Restricted funds 327.783 304,927 Unreslrlcted Income funds Unrestricted funds 91.549 47,372 lolal lunds 19 419.332 352.299 Poge 12 Commvnlty Arts Rhayader and District (Reglstrollon number: 03663661) Balance Sheel as at 31 March 2021 For the financial year ending 31 Morch 2021 Ihe chority wos entilled lo exemplion from oudil Under section 477 of the Companies Act 2￿6 relating to small componies. Directors. responsibilities.. The members hove not required the chority to obtoin on oudit of its accounts for the year in question in occordonce with section 476- ond The director5 acknowledge their responsibilities for comptying with the requirements of the Act wrth respect lo accounting record5 and the preporolion of accounts. These cccounts hove been prepared in accofdonce ¥￿th the provisions applicable to companies 5vbject to the small companies regime. The finoncial 5tolemenls on pages I I 10 27 were oprKoved by the trustees. ond authorised for iSSL*e on ..31..ii.Ixk and signed on their behalf by.. C J Ailon Trvslee Page 13 Communty Arts Rhayader and District Notes to the Flnancial Slalements for the Year Ended 31 Morch 2021 I Charily stalus The charity is limited by guarantee. incorporated in England ond Wale5. ond consequent does not hove shore copilol. Each of the trustees is liable to contribute an amount nol exceeding £1 towards the 05sets ol Ihe charity in the evenl of liqvidotion. The oddres5 of ils registered office is= Unit 2 Eost Street Enterprise Po East Street Rhayader Powys LD6 SER The principol ploce of business is: Rhayader Museum and Gallery East Street Rhoyoder Pows LD6 SER Authorised for issue date 2 Accountlng pollcle$ Sumrnary ol slgnlllcanl accovnllng pollcles ond key occovntlng estlmotes The principal accounting policies applied in the preporation of these financiol statements are sel out below. These policies have been Consistent￿ applied to oll the years presented. vnless othemse stoted. stolemenl ol compllonce The financiol Statements hove been prepored in occordance with Accounting ond Reporting by Charities= Statemenl of Recommended Proctice opplicoble lo chorities preparing their accounts in accordance wth the Financial Reporting Standard opplicoble in the UK ond Republic of Ireland IFRS 1021 leffeclive l January 20151 IChanlie5 SORP IFRS 10211. the Finonciol Reporting Slondard opplicable in the UK and Republic of Ireland IFRS 1021. They 0150 comply with the Comwnies Acl 2CQ6 ond Ch(￿lIeS Act 2011. Bosls ol preparallon Community Arts Rhoyoder ond District meets the definition ol o pvblic benefit entity under FRS. 102. A89ets and liabilities are initialw recognised at historical cost or tron5aclion volue unless Otherwise stoted in the relevant occounling policy noles. Going concern The Irvstees consider that there are no material uncerlainlies about the charily'5 obilily to continue as a going concem nor ony signilicont areas of uncertointy thot offect the carrying volue of assets held by Ihe charity. Poge 14 Commvnlty Arts Rhayader and Dlslrfct Notes to the Flnanclal Statements lor the Year Ended 31 March 2021 Exemption from preparlng a cash Ilow stolement The chorily opted lo eorfy odopl Bvllelin I published on 2 February 2016 and hove therefore nol included a cash flow stotement in these finonciol slotements. Income and endowments All income is recognised once Ihe chority hos enlillement to the income. it is proboble that. the income will be received and the omovnt of the income Teceivoble can be measured reliobly. Donotions and legocles Donations are recognised when the charity has been notified in wriling of both the omount ond settlement date. In the event that o donolion is subject to conditions that reqU￿e o level of performance by the charity before the charity is entitled to the funds. the income is deferred ond not recognised until either those conditions are ftjlly met. or the fvllilment of those conditions is wholly within the control of the chority ond il is probable thol these conditions will be fulfilled in the reporting peiiod. Legacy gifts are recognised on o case by cose basis followng the gront ol probate when Ihe odministratorlexecutor for the estate has communicoled in writing both the amount and Settlement date. In the event Ihat Ihe gift is in the fom of an osset other thon cosh or o financial asset Iroded on a recognised stock exchonge. recognition is svbject lo the volve of the gift being reliably meosuroble wth o degree of reasonable accurocy and Ihe title to the osset hoving been transferred to the charity. Grants recelvable Grants are recogni5ed when the charity hos on entillemenl to the funds and ony conditions linked lo the grants have been met. Where performonce conditions are attached to the grant ond ore yel to be met. the income is recognised as o liability ond included on the bolonce sheet os defeNed income lo be released. Expendllyfe All expenditure is recognised once Ihere is o legal or con51rvctive obligation lo thal expendilure. it is probable settlement is requred ond the amounl can be meosured Teliobly. AII costs ore ollocoted to the applicoble expenditure heoding that aggregote similar costs to thal category. Where costs connot be dwectty attribvled to porh'culor headings they hove been ollocoled on o bosis consistent with the use of reswce5, Wth central staff c05t5 allocated on Ihe bosis ol time spent. ond depreciation charges ollocated on the portion of the asset's use. Other support cosls are allocated based on the spread ol staff costs. Raisin9 funds These are costs incvrred in attrocling volunlory income. the manogement of inveslments and Ihose incuffed in troding octivities thot raise funds. Page 15 Commvnlty Art5 Rhayader and Dlstrlct Notes to Ihe Flnancial Statements for Ihe Year Ended 31 March 2021 Charituble acllvllles Choritable expenditure compiises those c0515 incvrred by the chorily in the delivery ol 115 activities ond services lor its beneficiories. It includes both costs Ihol con be allocated directly to such octivities ond Ih05e costs ol an indirect nature necessary to support them. Support costs Support C051s include central functions ond hove been allocoled to octivity cost categories on a basis consistent with the use ol resovTce5. for example. ollocoling property costs by floor areas, or per capilo. staff costs by the time spent and other costs by their usoge. Governance costs These include the costs atlributable to the charify's compliance wth constitutional and statutory requirements, including oudil. strategic management and trustees's meetings and reimbvrsed expenses. Government grants Government grants are recognised based on Ihe occnjol model ond ore meosured at the lair value ol the asset received or receivoble. Gronls ore cla55ified a5 relating either lo revenue or lo ossets. Gronts reloting to revenue are recognised in income over the period in which the reloled cosls Ore reeognised. Gronts relating to ossets are recognised over the expected useful life of the asset. Where port of a gront reloting to on osset is delerred. it is recognised as deferred income. Taxallon The chority is considered to pass Ihe lesls set out in Parograph I Schedule 6 of the Finonce Act 2010 and therefore it meets the definition of a choritable company for UK corporolion tax purposes. Accordingly, the chaiity is FX)tentially exempt from toxotion in respect of income or capilol gains received within cotegories covered by Chopter 3 Port I l of Ihe Corporotion Tox Act 2010 OT Section 256 of the Taxation of Chargeoble Gains Act 1992. 10 the extenl thot such income or gains ore opplied exclu&vely to charilable purposes. Tanglble Ilxed assets Individuol fixed assets are initiolly recorded ot cost. te55 any subsequent accumulated depreciotion ond subseqvenl accumuloted impoimient1055es. Depreclatlon and am¢)rtlsatlon Depreciotion is pfovided on tongible fixed 055ets so 05 to write off the cost or valuotion, less ony estimoted reydval valve. over Iheir expected useful economic life as follows= Asset cla55 Freehold Property Fixture5 ond fittings Eqvipment Pk2nt Depreclallon method and rafe 2% on cost 20% on cost 25% on cost IO% ¢)n c05t Page 16 Commvnity Arts Rhayader and Dlstricl Notes to the Financial Statements lor the Year Ended 31 March 2021 stock Stock is valued at Ihe lower of cosl and nel reolisable value. ofler making due ollowonce for ob501ete end slow moving items. Trade deblof5 Trade debtors are omounls due from customers for merchondise sold or seNices perfomied in the ordinory course of business. Trode debtor5 ore recognised initially al the tronsoction price. Cash and cash equlvalents Cash ond cash eqvivolenls comprise cosh on hond and coll deposits. ond othef short-term highly liquid investmenls thol are reodily convertible to o known amount of cosh and ore subject to on insignilicant risk ol change in volve. Trade credllors Trode creditors are obligations to poy for goods or services that hove been acquired in the ordinory course of busine55 from svppliers. Accounts payable ore clossified as cvrrent liabilities if the charity does not hove an unconditionol right. ol the end of the reporting period. to defer settlement of the creditor lor ot least twelve months after the reporting dote. 11 there is an unconditionol right to defer selllemenl lor at leost twelve months olter the reporting dote. they ore presenled 05 non Elan Volley Trust Ashley Family Foundolion Association of Independent Mu58ums 10.(xK) 10.cKKJ Federolion of Museum5 215 Community Foundotion Woles Llysdinam Trust PAVO Sociol Development Fund PAVO Wellbeing Development Fund 4.925 4.925 660 10.753 10,753 2,671 2,671 Moondance Foundation 1,250 1.250 Carmarthenshire County Council Fund 13.5(X) 13,SC HM Revenue & Customs CJRS Grant 7,667 7,667 Powys County Council Covid-19 Grants 46.(KKI 46.000 WeL5h Government Welsh Cultural Recovery Fund i o.(Ko 10.(x 69.667 53.579 123.246 21,955 5 Income from charllable oclmlles Unrestrlcled lunds Total 2021 Total 2020 General Thealre. Museum. Studio Income RhayaderTown Council 3.788 3,788 1,000 21.049 1.0 4.788 4.788 22.049 Poge 18 Commvnty Arts Rhayader and Dislrfcl Noles lo the Financial Statements for the Year Ended 31 March 2021 6 Inveslment Income Unreslricled funds Total 2021 Total 2020 General Interest receivable ond similor income- Interest receivoNe on bonk deposits 38 7 Expendlture on ralslng fvnds Vnresmcted fvnds Total 2021 70101 2020 Note staff costs Allocoled supptytr costs 226 217 226 217 177 302 443 443 479 8 Expenditure on Charitable oclivihès Unreslrfcted lunds Reslrlcted funds Tolal 2021 Total 2020 Generol Oirect costs Depreciolion.omortisotion and other similar costs Staff costs Allocated support costs Governonoce costs 660 3.790 4.450 9.910 8.306 13.904 2,123 2.7C¥) 9,844 21.664 20,874 4.029 8.769 16,951 28.991 4,137 7.760 18.751 1.329 30.038 30.823 60.861 68,758 £30.03812020 - £39.3051 of the above expendilvre wos ottributable to unreslricted funds and £30.82312020 - £29.4531 to restricted funds. Poge 19 Communlfy Arts Rhayader and District Notes to the Financial Statements foi the Year Ended 31 March 2021 9 Andysis of goYeTnance and $upwl ¢05ts Govemance costs Unrestri¢led funds Restrlcted funds Total 2021 Total 2020 G•n•ral staff costs Wages and salaries Independent examiner lees Eyamination ol the financial stolements Allocoted SUPF)Ort Costs 677 677 529 2.700 2.700 652 2,7 908 652 1,329 2.700 4,029 4,137 Analys15 of sUPPOrt Costs Expendlture on rolsing lunds Chartlable Actlvltles Governonce Totol Tolal 2021 2020 Humon resources 786 667 Premises 121 362 12.071 19.107 Office and sundry costs Finance cost5 92 277 9.219 10.459 331 10 344 497 217 20.874 1.329 22,420 30,730 10 Net Incomlngloutgolng resowce$ Net incoming resources for the yeor inclvde: 2021 2020 Depreciotion of fixed ossets 9.844 8.769 Page 20 Communlty Arts Rhayoder and Dlsfrlcl Noles lo the Flnanclal Statements for the Year Ended 31 March 2021 I l Tru$tO0s remunerallon and expenses No trustee5. nor ony persons connected with them. hove received any remunerah'on from the charity during the yeor. No trustees have received ony reimbursed expenses or any other benefits from the chorify dvring the year. 12 Slaff costs The aggregate POyTdl costs were as lollows: 2021 2020 stuff cost$ during the ye(x were: Woges ond solories 22.567 17.657 The monlhty average number ol persons (including senior management teoml employed by the charity during the year including full ond port time slofl was as follows= X121 No 2020 No Stoff including port time No employee received emoluments of more than £60.COJ during Ihe yeor. 13 Independent examineI5 reMun￿all*)n 2020 Exomination of the finoncial statements 2.71X) 2.7(KJ 14 Taxation The chority is a registered charity ond is therefore exempt from loxalion. Poge 21 Communlty Arts Rhayader and Dlstrlct Nole5 to the Flnanclal Statements for the Year Ended 31 March 2021 15 Tangible fixed a55ets lond and bvildings Flxtures ond fittings Planl and equlpment Tolal Cost Al l April 2020 Additions 450.760 1.764 92.810 34.639 6.251 578.209 8,015 Al 31 Morch 2021 452,524 92,810 40.890 586.224 Deprèciation Al l April 2020 Charge for the year 122.261 8.813 92.810 34.639 1.031 249.710 9.844 Al 31 March 2021 131,074 92,810 35.670 259.554 Net book value At 31 March 2021 321.450 326.670 At 31 Morch 2020 328.499 328,499 Included in cost or volvotion of Freehokl Property 15 feehold land of £I￿,co) 12020 £1 CKI.OCQI Revaluallon ol fixed assets In November 2CtJ9 followng a major conversion of Unit I to house Ihe Rhayader Museum, the Trustees inslfucted Ihe voluer5, Messrs Mccartney. to provide an updoted volualion ol Unit i. This was undertoken on the bosis of reosonoble market volue. based upon high specilicotion office premises. The valuation wos £220,[￿ Freehold wilh vacant possession. A5 Ihe book value ol Unil l at the yeor end was consideiobly in excess ol the obove valuation, adjustments were mode in order to reduce the property ond ossocboted r￿tureS to the above valuotion. Poge 22 Community Arts Rhayader and D151rfct Notes to the Financial Statements lor the Year Ended 31 March 2021 16 Stock 2021 Slocks 3,089 2,773 17 Debtors 2020 Debttxs 248 766 18 Credltors: amounts lolllng due wilhin one year 2020 CredIt￿S 6.872 7,029 Page 23 Community Arts Rhayader and Dlstrict Notes to the Financlal Stolements for the Year Ended 31 Morch 2021 l ? Funds Bolon¢e al 31 March 2021 Balance al I Apnl 2020 Incomlng resources Itesources expended Unrestrlct•d fvnds General Unreslricted funds 47,372 74.658 I￿.481) 91.549 Restrlcled Ivnds Copital Museum Projecl PAVO Sociol Developmenl Fund Elon Valley Trvst Art Fund Welsh Government Community Ashley Fomily Foundation PAVO Wellbeing Developmenl Fund As50ciatior) of Independent Mvseums Community Foundation Woles Skinner5' Lady Neville Chomty Moondonce Fovndalion Giant Communily Foundalion in Wales 202.202 95.222 14.0881 13.2711 198,114 91,951 10.753 i o.(x)o 13,5CO 110,2581 17,2941 11.9451 495 8,469 11.555 5.763 12,4801 8.0 2.671 2.671 1.080 12781 382 100 1.250 13541 896 4.925 855 4.070 Total r•slrl¢ted fvnds 304.927 53.679 30.823 327.783 Total lunds 352.299 128.337 61.304 419.332 Poge 24 Commvnlty Arts Rhayader and Dlstrlct Notes lo the Flnanclal Statements for the Year Ended 31 March 2021 Balonce ot 31 March 2020 Balance at I Aprfl 2019 Incoming resources Resources expended Vnrestrlcted fvnds General Unrestricted funds 31,040 56.116 139.7841 47.372 ftosfrl¢ted lunds Capital Museum Project Ookdale Trust Elan Valley Trust Ashley Fomily Foundotion Association of Independenl Musevms 206.290 98.493 14.0881 13,2711 15.OCQI 18.8391 15.7091 202.202 95,222 4.602 5.709 10.(KM) 5,763 12.(XM)I 12151 13311 1,080 Federation ol Mu5evms Sontander Foundalion Granl Communily Foundation Wales 215 660 660 Total restrlcted fvnds 315.425 18.955 29.453 304,927 Total fvnds 346,465 75.071 69,237 352.299 Poge 25 Community Arts Rhayader and Districl Notes lo Ihe Finonclal Statements for the Year Ended 31 March 2021 The specific purposes for which the fund5 ore to be opptied ore os follows= Restricted copitol funds comprise copilol grants lo fund the acquisition ond tMginal relurbishmenl ol the property ol Ihe charity. Reslricled museum project funds received to fvnd The Rhoyoder and District Chronicles Community Mvsuem ond Oulreach Piojecl. PAVO Social Development Fund gront wos lowards the employment costs ol o port time temporay digilol project officer and other costs. This fund included lunding lowords the pvrchose of o computer. This bolance is being written off at the some rote that the equipment is deprecioled. Ellan Valley Tnjsl funding is towards the employment costs of a sUPPOrt officer. including finance support. Art Fund Respond and Reimogine Gronl was funding for o part time Digilol Project Officer to develop online exhibitions and aclivities. and part of on outdoor exhibition space. Welsh Government Community Cohesion Progromme was a grant administered by Carmorthenshire County Council for o filmed and oral history project l¢)oking ot celebrating Christmos ocross generations to promole community cohesion. Ashley Family Foundolion Creolive Collaborations wos funding towards a grophic designer. participatory artlst I designer ond community engogement for Ihe new Museum displays. PAVO Wellbeing Development Fvnd was funding for the Digitol officer for one day a week to continue her work and lo produce digital aclivities and 2W oclivity pack5 for children. A5sociolion of Independent Museums Hollmarks Awords funding was towards fundraising mentoring costs. Community Foundotion Wales is grant funding towards the cosl of compvter eqvipment. This balance 15 being wrillen off al the same late that the equipment is depreciated. The Skinner5' Company Lody Neville Charity was funding to help o heritage project wilh young people from Ouf rwol community. The Moondonce Covic-19 Relief Fund was funding towards the cost of a comcordew. This balonce is being wtillen off al the same rate Ihot the eqvipment Is depreciated. Community Foundation Wole5 Coronovirus Re511 ience Fund w05 to buy ond modify a new dragon Irailer,hold S workshops ond employ o project officer IOT 5 5e55ions. This bolance is being wilten off at the same rote thot the equipment is depreciated. All other fund5 have been towords the choriloble octivifie5 of the charily and Io sUPPOrt rvnning costs. Poge 26 Communlty Arts Rhayader and Distrlct Notes to the Finonclal Statements for Ihe Year Ended 31 March 2021 20 Anatysls of net assets belween Ivnds Unreslrf¢ted funds Reslricled fvnds Generol Total lund$ Tangible r￿ed assets Current ossels CutTent liabilities 31.639 64.082 4.172 295.031 35.452 2,71XJ 326,670 99,534 6,872 Totol nel ossets 91.549 327.783 419.332 21 Reloled porty Iranso¢tions There were no related party transaclions in the year. Page 27