2021-03-31-accounts - Valleys Kids

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			Page
Report ofthe	Trustees		1 to 8
Report ofthe	Independent	Auditors	9to 11
Consolidated	Statement	of Financial Activities
Consolidated	Balance Sheet		13
Charity Balance Sheet			14
Consolidated	Cash Flow	Statement	15
Notes to the	Consolidated	Cash Flow Statement	16
Notes to the	Financial Statements		17to31

					2021	2020
			Unrestricted	Restricted	Total funds	Total funds
			funds	funds
		Notes
INCOME AND ENDOWMENTS	FROIN
Donations and legacies			493,481		493,481	181,610
Charitable activNes
Community Projects			642,317	279,687	922,004	1,142,235
Community Outreach				166,273	166,273	164,904
Spare (Artworks)				180,438	180,438	234,418
Other trading activities			50,819		50,819	124,197
Investment income			27,021		27,021	25,164
Other income			6,951		6 851
Total			1,220,589	626,398	1,846,987	1,872,528
EXPENDITURE ON
Raising funds			58,075		58,075	147,657
Charitable activities
Community Projects			844,642	256,570	1,101,212	1,081,412
Community Outreach			102,694	166,273	268,967	287,770
Spare (Artworks)			105,846	180,438	286,284	284,600
Total			1,111,257	603,281	1,714,538	1,801,439
NET INCOMEI(EXPENDITURE)			109,332	23,117	132,449	71,089
Transfers between funds		22	32,806	~32,806)
Net movement in funds			142,138	(9,689)	132,449	71,089
RECONCILIATION OF FUNDS
TOTAL FUNDS BROUGHT FORWARD			4,539,025	14,594	4,553,619	4,482,530
TOTAL FUNDS CARRIED FORWARD			4,681,163	4,905	4,686,068	4,553,619

				2021	2020
		Unrestricted	Restricted	Total funds	Total funds
	Notes	funds f	funds F
FIXEDASSETS
Tangible assets	16	4,888,558		4,888,558	4,920,337
CURRENT ASSETS
Stock		1,380		1,380	3,801
Debtors	17	53,357		53,357	126,461
Cash at bank and in hand		438,989	204 375	643,364	119,787
		493,726	204,375	698,101	250,049
CREDITORS
Amounts falling due within one year	18	(190,557)	(199,470)	(390,027)	(296,975)
NET CURRENT ASSETS		303,169	4,905	308.074	~46.926)
TOTAL ASSETS LESSCURRENT LIABILITIES		5,191,727	4,905	5,196,632	4,873,411
CREDITORS
Amounts falling due after more than one year	19	(510,564)		(510,564)	(319,792)
NET ASSETS		4,681,163	4,905	4,686,068	4,553,619
FUNDS	22
Unrestricted funds				4,681,163	4,539,025
Restricted funds				4,905	14,594
TOTAL FUNDS				4.686.068	4,553,619

				2021	2020
		Unrestricted	Restricted	Total funds	Total funds
		funds	funds
	Notes
FIXEDASSETS
Tangible assets	16	4,831,432		4,831,432	4,861,988
CURRENT ASSETS
Debtors	17	104,983		104,983	178,235
Cash at bank and in hand		399,127	204,375	603,502	109,276
		504,110	204,375	708,485	287,511
CREDITORS
Amounts falling due within one year	18	(182,801)	(199,470)	(382,271)	(283,432)
NET CURRENT ASSETS		321,309	4,905	326,214	4,079
TOTAL ASSETS LESSCURRENT LIABILITIES		5,152,741	4,905	5,157,646	4,866,067
CREDITORS
Amounts falling due after more than one year	19	(503,273)		(503,273)	(310,678)
NET ASSETS		4,649,468	4,905	4,6543?3	4,555,389
FUNDS
Unrestricted funds				4,649,468	4,540,795
Restricted funds				4,905	14,594
TOTAL FUNDS				4.654.3?3	4,555,389

					2021	2020
				Notes
Cash flows from operating	activities:
Cash generated from operations					469,944	297,587
interest paid					~19.653)	~13.144)
Net cash provided by (used in) operating
activities					450,291	284,443
Cash fiows from investing	activities:
Purchase oftangible fixed assets					(133,386)	(691,892)
Interest received						10
Sale oftangible fixed assets					5,000
Net cash provided by (used in) investing
activities					L)28.388)	)691,888822)
Cash flows from financing	activities:
Loan repayments in year					(339,067)	(11,851)
New loan in year					540,739	137,000
Net cash provided by (used in) financing
activities					201,672	125,149
Change in cash and cash equivalents		in the
reporting period					523,577	(282,290)
Cash and cash equivalents	at the beginning		of
the reporting period					119,787	402,077
Cash and cash equivalents	at the end	ofthe
reporting period					643,364	119,787

							2021	2020
Net income/(expenditure)		forthe reporting		period (as per	the statement
offinancial activities)							132,449	71,089
Adjustments for:
Depreciation charges							163,847	143,952
Interest received								(10)
Interest paid							19,653	13,144
Profit on sale oftangible		fixed	assets				(3,682)
Decrease in debtors							73,104	(23,108)
Increase in creditors Decrease in stock							82,152 2,421	93,232 ~712)
Net cash provided	by (used		in) operating	activities			469,944	297,587
ANALYSIS OF CHANGES			IN NET FUNDS/(DEBT)
					At	1/4/20 f	Cash flow f	At 31/3/21
Net cash
Cash at bank and	in hand				119,787		523,577	643,364
Debt
Debts falling due	within one year				(149,321)		(9,077)	(158,398)
Debts falling due	after	one	year		~310,678)		)192.595)	)503.273)
					~459999)		~201,672)	~661,671)
Total					~340,212)		321,905	~18,307)

					2021 f	2020 f
Donations					91,543	121,860
Penygraig Community Project grant						59,700
Legacies					10,000	50
Grants					391,938
					493.481	181,610
Grants received, included	in the	above, are	as	follows:
					2021 F	2020f
The Waterloo Foundation					25,000
Esmee Fairbaim Foundation					15,000
Welsh Government Coronavirus		Job Retention		Scheme	164,188
RCTCBC - Rates Grant					90,000
Welsh Government Retail	Grant				15,000
Tesco Bags of Help COVID-19 Communities			Fund		500
City ofSwansea Council - Rates Grant					24,000
The Tudor Trust					2,000
WCVA: Third Sector Resilience		Fund for Wales			56,250
					391,938
OTHER TRADING ACTIVITIES
					2021 f	2020
Retail income					1,559	4,473
Income from Valleys Creative Limited					49,260	119,724
					50.819	124,197
INVESTMENT INCOME
					2021	2020 f
Rents received					27,021	25,154
Deposit account interest						10
					27,021	25,164

						Activity		2021 F	2020 f
Community activities						Community	Projects	4,333	11,302
Grants						Community	Projects	889,245	988,817
Childcare						Community	Projects	1,652	44,600
Party and play						Community	Projects	15,881	61,871
Hire income						Community	Projects	10,893	35,645
Grants						Community	Outreach	166,273	164,904
Community activities						Spare (Artworks)			657
Grants						Spare (Artworks)		180,438	233,761
								1,268,715	1.541.557
Grants received, included		in	the		above, are as follows:
								2021	2020
RCTCBC - Community Education						Penygraig		11,572	10,000
RCTCBC - Families First									215,976
Coleg y Cymoedd									5,993
The Beatrice Laing Trust								5,000
Interlink RCT								4,250	2,207
Community First								168,207	173,046
Arts Council Wales								148,029	122,383
RCTCBC —Parenting Support								216,965
Wales Council for Voluntary			Action —VSEF Small Grant					74,196
The Hodge Foundation								6,548
The National Lottery Heritage				Fund				6,500
Big Lottery Fund - Working		Families						190,290	87,663
Bernard Sunley Charitable		Foundation							20,000
Pontypridd Town Council								2,500
Janet and Peter Swinbum		Fund			- CAF America			20,447	31,216
RCTCBC —other grants								13,079
Moondance Foundation									25,000
Cwm Taf Morgannwg University						Health Board			40,000
Children in Need								45,349	43,924
Comic Relief									27,000
Wales Millennium Centre - Paul					Hamlyn			12,409	56,378
Pen Y Cymoedd Community				Fund				47,556	85,129
The Clothworkers' Foundation									35,200
Cotwinston Charitable Trust								20,000	20,000
integrated Care Fund Voluntary					Action			56,786	32,106
People's Postcode Lottery									20,000
The Waterloo Foundation									10,000
29th May 1961 Charitable		Trust							7,500
The Percy Bilton Charity									4,483
Millennium Stadium Charitable				Trust					5,000
Johnnie Johnson Trust									5,000
Edgar E Lawley Foundation									1,500
National Lottery - Awards	for		All						9,594
Big Lottery Fund - Family T.E.D.S.	Links							166,273	164,904 90,000
Esmee Fairbaim Foundation								20,000	30,000
RCT CBC - Funding Youth									6,280
								1,235,858	1.387,482

RAISING FUNDS
Raising donations	and legacies
		2021	2020
Staff costs Activities Premises costs Depreciation Trading subsidiary	costs	6,197 16,830 15,?82 1,068 18,198	43,633 15,706 17,421 1,101 69,796
		58,075	147,657

	Direct costs	Support costs	Totals
	(See note 9) f	(See note 10)
Community Projects	920,656	180,556	1,101,212
Community Outreach Spare (Artworks)	194,912 217,233	74,055— 69,051	268,967 286 284
	1,332,801	323.662	1,656,463
DIRECT COSTS OF CHARITABLE ACTIVITIES
		2021 f	2020
Staff costs Travel Staff training Telephone and postage Bad debts		820,767 836 6,684 1,781 1,120	877,018 13,694 11,610 2,241
Activities Premises costs COVID-19 food purchases		155,604 158,150 48,145	130,736 150,788
Depreciation		139,714	122,707
		1,332,801	1,308,784
SUPPORT COSTS

					Governance
		Management	Finance f	Other	costs	Totals f
Community	Projects	43,015	17,314	110,603	9,624	180,556
Community Outreach Spare (Artworks)		17,668 16,474	6,517 6,077	46,944 43,772	2,926 2,728	74,055 69,051
		77.157	29,908	201,319	15,278	323,662

					2021	2020
						E
Auditors'	remuneration				9,100	9,100
Auditors'	remuneration	for	non-audit	work	6,178	2,994
Depreciation					163,647	143,952

STAFF CO	STS
				2021	2020
					F
Employee	costs during the year
Wages and	salaries			930,493	1,021,149
Employer's	National	Insurance	contributions	68,665	74,715
Pension costs				17,405	18,442
				1,016,563	1,114,306
Number of	employees			53	63
Equivalent	full time employees			41	43

		Unrestricted	Restricted	Total funds
		funds	funds
		F
INCOME AND ENDOWMENTS	FROM
Donations and legacies		131,610	50,000	181,610
Charitable activities
Community Projects		789,371	352,864	1,142,235
Community Outreach			164,904	164,904
Spare (Artworks)		25,657	208,761	234,418
Other trading activities		124,197		124,197
Investment income		25,164		25,164
Other income
Total		1,095,999	776,529	1,872,528
EXPENDITURE ON
Raising funds		147,657		147,657
Charitable activities
Community Projects		905,185	176,227	1,081,412
Community Outreach		122,866	164,904	287,770
Spare (Artworks)		75,839	208,761	284,600
CAT
Total		1,251,547	549,892	1,801,439
NET INCOME/(EXPENDITURE)		(155,548)	226,637	71,089
Transfers between funds		555.361	~555.361)
Net movement in funds		399,813	(328,724)	71,089
RECONCILIATION OF FUNDS
Total funds brought forward		4,139,212	343,318	4,482,530
TOTAL FUNDS CARRIED FORWARD		4,539025	14,594	4,553,619

TANGIBLE FIXEDASSETS—GROUP
	Freehold	Plant and
	property	machinery	Motor vehicles	Totals
			F	E
COST
At 1 April 2020	6,062,212	220,248	25,299	6,307,759
Additions	74,040	59,346 ~3.933)		133,386 ~3.933)
At 31 March 2021	6 136,252	275,661	25,299	6,437,212
DEPRECIATION
At 1 Apnl 2020 Charge foryear	1,236,705 121,692	146,477 37,295 ~2,615)	4,240 4,860	1,387,422 163,847 ~2.615)
At 31 March 2021	1,358,397	181,157	9,100	1,548,654
NET BOOK VALUE
At 31 March 2021	4.777855	94,504	16.199	4,888.558
At 31 March 2020	4,825,507	73,771	21,059	4,920,337
TANGIBLE FIXEDASSETS- CHARITY
	Freehold	Plant and
	property f	machinery	Motor vehicles	Totals
COST
At 1 April 2020	6,015,553	169,836	25,299	6,210,688
Additions Disposals	74,040	57,009 ~3.933)		131,049 ~3,933)
At 31 March 2021	6,089,593	222,912	25,299	6,337,804
DEPRECIATION
At 1 April 2020	1,235,772	108,688	4,240	1,348,700
Charge for year Eliminated on disposal	120,759	34,668 ~2.615)	4,860	160,287 ~2615)
At 31 March 2021	1,356,531	140,741	9,100	1,506,372
NET BOOK VALUE
At 31 March 2021	4,733,062	82,171	16,199	4,831,432
At 31 March 2020	4,779,781	61,145	21,059	4,861,988

DEBTORS:A	MOUNTS FALLING DUE WITH	IN ONE YEAR-GR	OUP AND CHA	RITY
		Group	Group	Charity	Charity
		2021	2020	2021	2020
Trade debtors		7,595	17,384	7,595	17,384
Other debtors		13,176	13,675	13,176	13,675
Amounts owed by group undertakings				55,622	92,644
Prepayments	and accrued income	31,246	95,402	28,590	54,532
VAT		1,340
		53.357	126,461	104,983	178,235

				Group	Group	Charity	Charity
				2021	2020	2021	2020
				f.	F		F
Bank loans and overdrafts			(see note 20)	19,924	12,321	19,924	12,321
Other loans (see note 20)				138,474	137,000	138,474	137,000
Trade creditors				3,410	46,314	3,410	44,189
Social security and other		taxes			19,854		19,854
Other creditors				9,321	5,160	7,252	1,482
VAT					4,316
Accruals and deferred	income			218,898	72,010	213,211	68586
				390,027	296,975	382,271	283,432
Included within deferred		income above is the following:
						2021	2020
							F
Wales Council for Voluntary			Action - Third Sector Resilience Fund forWales
Phase 2						59,968
The Waterloo Foundation						50,000
The Hodge Foundation						13,452
Garfield Weston Foundation						75,000
RCTCBC capital grant						1,823	2,279
						200,243	2,279

			Group	Group	Charity	Charity
			2021	2020	2021	2020
			f		f	f
Bank loans	(see note 20)		466,008	310,678	466,008	310,678
Other loans			37,265		37,265
Acciuals and deferred		income	7,291	9 114
			510564	319,792	503,273	310,678
LOANS
An analysis	ofthe maturity ofloans is given below:
					2021 f	2020 f
Amounts falling due within one year on demand:
Bank loans					19,924	12,321
Otherloans					138,474	137,000
					158,398	149,321
Amounts falling between one and two years: Bank loans -1-2years Other loans - 1-2years					20,734 3,917	12,798
					24,651	12 798
Amounts falling due between two and five years: Bank loans - 2-5years Other loans - 2-5years					70,394 16,760	41,578
					87,154	41,578
Amounts falling due in		more than five years:
Repayable	by instalments:
Bank loans					374,880	256,302
Other loans					16,588
					391,468	256,302
SECURED	DEBTS
The following secured debts are included			within creditors:
					2021 f	2020 f
Bank loans					485.932	322,999

									Net	Transfers
									movement	between	At
								At 1/4/20	in funds	funds	31/3/21
								E			F
Unrestricted funds
General fund								4,539,025	109,332	32,806	4,681,163
Restricted funds
Little Bryn Gwyn									5,000	(5,000)
Millennium Stadium		Charitable					Trust	5,000	(823)	(1,990)	2,187
National Lottery	- Awards			for all				9,594	(600)	(8,994)
Big Lottery Fund	- Working				Families Covid-
19									14,884	(14,884)
The National Lottery Penyrenglyn		Heritage Fund-							4.656	~1,938)	2,718
								14,594	23,117	~32,806	4,905
TOTAL FUNDS								4.553.619	132,449		4,686 068
Net movement in	funds, induded						in the above are as follows:
									Incoming	Resources	Movement
									resources	expended	in funds
										F	F
Unrestricted funds
General fund									1,220,589	(1,111,257)	109,332
Restricted funds
Spare									180,438	(180,438)
BBCChildren in	Need		- Dinas						35,399	(35,399)
Colwinston Charitable			Trust						20,000	(20,000)
Big Lottery Fund	- Working				Families				142,290	(142,290)
Little Bryn Gwyn									5,000		5,000
Millennium Stadium		Charitable				Trust				(823)	(823)
National Lottery —Awards				for all						(600)	(600)
Big Lottery Fund	- Family			Links					166,273	(166,273)
BBCChildren in Need									9,950	(9,950)
Big Lottery Fund	- Working				Families Covid-
19									48,000	(33,116)	14,884
The Hodge Foundation									6,548	(6,548)
Interlink Great Escape									1,000	(1,000)
The National Lottery		Heritage Fund-
Penyrenglyn									6,500	(1,844)	4,656
Pen Y Cymoedd Rhondda	Community				Fund - Upper				5.000	~5000)
									626.398	~603,281	23,117
TOTAL FUNDS									1.846,987	~1,714,538)	132,449

Comparatives for movement in	funds
			Net movement	Transfers
	At 1/4/19		in funds	between funds f	At 31/3/20 E.
Unrestricted Funds
General fund Designated fund - Little Bryn Gwyn 4,089,101 50,111			(163,048) 7,500	612,972 ~57,611)	4,539,025
	4,139,212		(155,548)	555,361	4,539,025
Restricted Funds
National Lottery —Awards for All Escape from the Ordinary Project Millennium Stadium Charitable Trust Big Lottery Fund Little Bryn Gwyn Fund		10,000 333318	9,594 20,000 5,000 2,360 189,683	(20,000) (2,360) (5~23001)	9,594 5,000
		343,318	226,637	(555,361)	14,594
TOTAL FUNDS	4.482,530		71,089	-	4,553,619
Net movement in funds, induded	in the above are as follows:
			Incoming	Resources	Movement in
			resources	expended	funds
			E
Unrestricted funds
General fund Designated fund - Little Bryn Gwyn			1,088,499 7,500	(1,249,187)	(160,688) 7 500
			1,095,999	(1,249,187)	(153,188)
Restricted funds
Spare BBCChildren in Need - Dinas BBCChildren in Need Cotwinston Charitable Trust Comic Relief Big Lottery Fund - Working Families Big Lottery Fund —Family Links Millennium Stadium Charitable Trust Little Bryn Gwyn Fund National Lottery —Awards for All Escape from the Ordinary Project			208,761 33,974 9,950 20,000 27,000 87,663 164,904 5,000 189,683 9,594 20,000	(208,761) (33,974) (9,950) (20,000) (24,640) (87,663) (164,904)	2,360 5,000 189,683 9,594 20,000
			776,529	(549,892)	226,637
TOTALFUNDS

			2021	2020
				F
Rent	expense	paid	22,296	22,296
Grant	income	received		59,700

		2021	2020
		F
Turnover Cost ofsales		72,623 ~66,055)	193,340 ~62.929)
Gross profit		6,568	130,411
Other income Expenditure Net profit		108,554 ~61.655) 33,467	86,353 ~219441 ~2677.
The aggregate	ofthe assets and liabilities at 31 March were:
		2021	2020
			F
Assets		102,364	117,944
Liabilities		(70,667)	(119,714)