2022-03-31-accounts

			Page
Report ofthe Trustees			1 to 10
Report ofthe Independent	Auditors		11to 13
Consolidated Statement	ofFinancial	Activities	14
Consolidated Balance Sheet			15
Charity Balance Sheet			16
Consolidated Cash Flow	Statement		17
Notes to the Consolidated	Cash Flow	Statement	18
Notes to the Financial Statements			19to 36

will:
Secure sustainable funding
Continue and develop play, youth and community performance, visual arts, families and older adults		development		and	specialist	programmes,	induding		youth
Work in partnership with other agencies best possible services	and organisations		to ensure	that	people and the communities			receive the
Strengthen our position with key stakeholders
Develop social enterprises to ensure sustainability
Undertake an initial HR needs analysis
Commission ajob evaluation exercise
Streamline financial systems
Audit facilities management
Research and compile an impact report
Review key organisation messaging
Undertake a communications rebranding	exercise
Undertake a review oforganisational online presence
Develop and implement an organisational Commission website redevelopment	communication		strategy

					2022	2021
			Unrestricted	Restricted	Total funds	Total funds
			funds	funds
		Notes
INCOME AND ENDOWMENTS	FROM
Donations and legacies Charitable activities			355,669	173,960	529,629	493,481
Community Projects Community Outreach Spare (Artworks) Community Support			229,984	1,298,102	1,528,086	922,004 166,273 180,438
Other trading activities Investment income Other income			97,629 34,920		97,629 34,920	50,819 27,021 6,951
Total			718,202	1,472,062	2,190,264	1,846,987
EXPENDITURE ON
Raising funds Charitable activities			80,191		80,191	58,075
Community Projects Community Outreach Spare (Artworks) Community Support			583,945	1,141,319	1,725,264	1,101,212 268,967 286,284
Total			664,136	1,141,319	1,805,455	1,714,538
NET INCOME/(EXPENDITURE)			54,066	330,743	384,809	132,449
Transfers between funds		22	3,553	~3,553)
Net movement in funds			57,619	327,190	384,809	132,449
RECONCILIATION OF FUNDS
TOTAL FUNDS BROUGHT FORWARD			4,681,163	4,905	4,686,068	4,553,619
TOTAL FUNDS CARRIED FORWARD			4,738,782	332,095	5,070,877	4,686,068

					2022	2021
			Unrestricted	Restricted	Total funds	Total funds
			funds	funds
FIXEDASSETS		Notes		F	E
Tangible assets		16	4,774,413		4,774,413	4,888,558
CURRENT ASSETS
Stock Debtors Cash at bank and	in hand	17	1,380 28,193 505,416	76,298 255,797	1,380 104,491 761,213	1,380 53,357 643,364
			534,989	332,095	867,084	698,101
CREDITORS
Amounts falling due within one year		18	(83,613)		(83,613)	(390,027)
NET CURRENT ASSETS			451,376	332,095	783,471	308,074
TOTAL ASSETS	LESSCURRENT LIABILITIES		5,225,789	332,095	5,557,884	5,196,632
CREDITORS
Amounts falling due after more than one year		19	(487,007)		(487,007)	(510,564)
NET ASSETS			4,738,782	332,095	5,070,877	4,686,068
FUNDS		22
Unrestricted funds Restricted funds					4,738,782 332,095	4,681,163 4,905
TOTAL FUNDS					5,070,877	4,686,068

				2022	2021
		Unrestricted	Restricted	Total funds	Totai funds
		funds	funds
FIXEDASSETS	Notes	f.
Tangible assets	16	4,711,600		4,711,600	4,831,432
CURRENT ASSETS
Debtors Cash at bank and in hand	17	92,829 440,645	76,298 255,797	169,127 696,442	104,983 603,502
		533,474	332,095	865,569	708,485
CREDITORS
Amounts falling due within one year	18	(67,029)		(67,029)	(382,271)
NET CURRENT ASSETS		466,445	332,095	798,540	326,214
TOTAL ASSETSLESSCURRENT LIABILITIES		5,178,045	332,095	5,510,140	5,157,646
CREDITORS
Amounts falling due after more than one year	19	(482,632)		(482,632)	(503,273)
NETASSETS		4,595,413	332,095	5,027,508	4,654,373
FUNDS
Unrestricted funds Restricted funds				4,695,413 332,095	4,649,468 4,905
TOTAL FUNDS
				5,027,508	4,654,373

					2022	2021
Cash flows from operating	activities:			Notes		E
Cash generated from operations Interest paid					342,832 ~18,989)	469,944 ~19,653)
Net cash provided by (used in) operating activities					323,843	450,291
Cash flows from investing	activities:
Purchase oftangible fixed assets Interest received Sale oftangible fixed assets					(51,696) 2	(133,386) 5,000
Net cash provided by (used in) investing
activities					~51,694)	)128,386)
Cash flows from financing	activities:
Loan repayments in year New loan in year					(159,298) 4,998	(339,067) 540,739
Net cash provided by (used	in) financing
activities					)154,300)	201,672
Change in cash and cash equivalents		in the
reporting period Cash and cash equivalents the reporting period	at the beginning		of		117,849 643,364	523,577 119,787
Cash and cash equivalents	at the end	ofthe
reporting period					761,213	643,364

	RECONCILIATION OF NET	INCOME/(EXPENDITURE)	INCOME/(EXPENDITURE)	INCOME/(EXPENDITURE)	TO NET CASH FLOW FROM OPERATING	TO NET CASH FLOW FROM OPERATING	ACTIVITIES
						2022	2021
	Net income/(expenditure) for the reporting offinancial activities) Adjustments for:			period (as	per the statement	E 384,809	E 132,449
	Depreciation charges Interest received					165,841	163,847
	Interest paid Profit on sale oftangible fixed assets Increase in debtors Decrease in creditors Decrease in stock					(2) 18,989 (41,841) (184,964)	19,653 (3,682) 73,104 82,152 2,421
	Net cash provided by (used	in) operating	activities			342,832	469,944
2.	ANALYSIS OF CHANGES	IN NET FUNDS/(DEBT)
	Net cash				At 1/4/21 f	Cash flow E	At 31/3/22 F
	Cash at bank and in hand				643,364	117,849	761,213
	Debt
	Debts falling due within one year Debts falling due after one year				(158,398) i503,273)	133,659 20,641	(24,739) )482,632)
					)661,671)	154,300	~507,371)
	Total				~18,307)	272,149	253,842

estimate residual valu	e over the useful econo	mic
Property	2%straight	line
Vehicles	20%straight	line
Equipment	20% straight	line

		2022	2021
Donations Legacies Grants		E 50,412 278 478,939	f 91,543 10,0000 391,938
		529,629	493,481
Grants received, included in the above, are	as follows:
		2022	2021
Moondance Foundation The Waterloo Foundation Garfield Weston Foundation Esmee Fairbaim Foundation Welsh Government Coronaviius Job Retention Scheme RCTCBC - Rates Grant Welsh Government Retail Grant Tesco Bags of Help COVID-19 Communities Fund City ofSwansea Council - Rates Grant The Tudor Trust WCVA: Third Sector Resilience Fund for Wales The Leathersellers' Foundation Admiral Support Fund		E 137,000 50,000 75,000 17,979 10,000 2,000 49,000 74,960 25,000 38,000	E 25,000 15,000 164,188 90,000 15,000 500 24,000 2,000 56,250
		478,939	391,938

			2022	2021
	Retail income Income from Valleys Creative	Limited	E 3,962 93,667	E 1,559 49,260
			97,629	50,819
5.	INVESTMENT INCOME
			2022	2021
	Rents received Deposit account interest		E 34,918 2	27,021
			34,920	27,021

Activity		2022 f	2021 f
Community activities Grants Childcare Party and play Hire income Grants Community activities Community Projects Community Projects Community Projects Community Projects Community Projects Community Outreach Spare (Artworks)			4,333 889,245 1,652 15,881 10,893 166,273
Grants Community activities Grants Party and play Hire income Spare (Artworks) Community Support Community Support Community Support Community Support		63,666 1,339,193 97,484 27,743	180,438
		1,528,086	1,268,715
Grants received, included in the above, are as follows:
RCTCBC - Community Education Penygraig RCTCBC —Enterprise Investment Grant Department ofWorks - Kickstart The Beatrice Laing Trust Interlink RCT Community First Arts Council Wales RCTCBC —Parenting Support Wales Council for Voluntary Action —VSEFSmall Grant The Hodge Foundation The National Lottery Heritage Fund Big Lottery Fund - Working Families Bernard Sunley Foundation		2022 f 3,125 1,500 97,381 81,548 298,086 276,212 13,452 143,083	2021 f 11,572 5,000 4,250 168,207 148,029 216,965 74,196 6,548 6,500 190,290
Pontypridd Town Council Janet and Peter Swinburn Fund - CAF America RCTCBC —other grants RCTCBC —Young Gifted and Welsh Children in Need Wales Ivlillennium Centre - Paul Hamlyn Pen YCymoedd Community Fund The Clothworkers' Foundation		50,089 19,382 11,685 26,056 22,000	2,500 20,447 13,079 45,349 12,409 47,556
Colwinston Charitable Trust Integrated Care Fund Voluntary Action Big Lottery Fund —Family Links Integrated Care Fund - Keeping Connected with your Co Integrated Care Fund - Third Sector Small Grant Scheme Tesco Parent Infant Foundation South Wales Police New Horzions Genesis —Kickstart Fund Pobl Trust Swansea Council Community Foundation Wales RCTCBC —Summer ofFun Esmee Fairbaim Foundation	mmunity	20,000 167,656 9,272 10,000 1,100 4,400 37,926 2,000 10,000 1,000 8,000 4,555 9,685 10,000	20,000 56,786 166,273 20,000
		1,339,193	1,235,956

Raising donations	and legacies
		2022	2021
Staff costs			f
Activities			6,197
Premises costs Depreciation Trading subsidiary	costs	12,709 13,319 54,163	16,830 15,782 1,068 18,198
		80,191	58,075

		Direct costs	Support costs	Totals
		(See note 9)	(See note 10)
Community	Support	F 1,288,423	E 436,841	1,725,264
		1,288,423	436,841	1,725,264

	2022	2021
Staff costs Travel	832,220	E 820,767
Staff training Telephone and postage Bad debts	20,171 11,304 1,522	836 6,684 1,781
Activities Premises costs COVID-19 food purchases Depreciation	168,718 131,855 122,633	1,120 155,604 158,150 48,145 139,714
	1,288,423	1,332,801

					Governance
Community Support	Management 135,596		Finance f 24,737	Other f 261,907	costs f 14,601	Totals 436,841
		135,596	24,737	261,907	14,601	436,841
NET INCOME/(EXPENDITURE)
Net income/(expenditure)	is stated	after charging/(crediting):
Auditors' remuneration Auditors' remuneration Depreciation	for non-audit	work			2022 f 9,100 5,501 165,841	2021 f 9,100 6,178 163,847

Employee costs during the	year	2022f	2021f
Wages and salaries Employer's National Insurance Pension costs	contributions	988,710 79,409 19,149	930,493 68,665 17,405
		1,087,268	1,016,563
Number ofemployees Equivalent full time employees		50 40	53 41

		Unrestricted	Restricted	Total funds
		funds	funds
INCOME AND ENDOWMENTS	FROM	E	E
Donations and legacies Charitable activities		493,481		493,481
Community Projects Community Outreach Spare (Artworks)		642,317	279,687 166,273 180,438	922,004 166,273 180,438
Other trading activities Investment income Other income		50,819 27,021 6,951		50,819 27,021 6,951
Total		1,220,589	626,398	1,846,987
EXPENDITURE ON
Raising funds Charitable activities		58,075		58,075
Community Projects Community Outreach Spare (Artworks)		844,642 102,694 105,846	256,570 166,273 180,438	1,101,212 268,967 286,284
Total		1,111,257	603,281	1,714,538
NET INCOME/(EXPENDITURE)		109,332	23,117	132,449
Transfers between funds		32,806	~32,806)
Net movement in funds		142,138	(9,689)	132,449
RECONCILIATION OF FUNDS
Total funds brought forward		4,539,025	14,594	4,553,619
TOTAL FUNDS CARRIED FORWARD		4,681,163	4,905	4,686,068

	Freehold	Plant and
COST	property f	machinery f	Motor vehicles f	Totals f
At 1 April 2021 Additions	6,136,252 16,750	275,661 34,946	25,299	6,437,212 51,696
At 31 March 2022	6,153,002	310,607	25,299	6,488,908
DEPRECIATION
At 1 Ap!112021 Charge for year	1,358,397 123,004	181,157 37,977	9,100 4,860	1,548,654 165,841
At 31 March 2022	1,481,401	219,134	13,960	1,714,495
NET BOOK VALUE
At 31 March 2022	4,671,601	91,473	11,339	4,774,413
At 31 March 2021	4,777,855	95,404	16,199	4,888,558
TANGIBLE FIXEDASSETS—CHARITY
	Freehold	Plant and
COST	property f	machinery f	Motor vehicles f	Totals f
At 1 April 2021 Additions	6,089,593 16,750	222,912 25,064	25,299	6,337,804 41,814
At 31 March 2022	6,106,343	247,976	25,299	6,379,618
DEPRECIATION
At 1 April 2021 Charge for year	1,356,531 122,071	140,741 34,715	9,100 4,860	1,506,372 161,646
At 31 March 2022	1,478,602	175,456	13,960	1,668,018
NET BOOK VALUE
At 31 March 2022	4,627,741	72,620	11,330	4,711,600
At 31 March 2021	4,733,062	82,171	16,199	4,831,432

		Group 2022	Group 2021	Charity 2022	Charity 2021
Trade debtors Other debtors Amounts owed by group undertakings Prepayments and accrued income VAT		75,441 5,485 23,565	7,595 13,176 31,246 1,340	75,297 5,485 64,780 23,565	7,595 13,176 55,622 28,590
		104,491	53,357	169,127	104,983

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR—GROUP AND			CHARITY
	Group 2022	Group 2021	Charity 2022	Charity 2021
Bank loans and overdrafts (see note 20) Other loans (see note 20) Trade creditors Social security and other taxes Other creditors VAT Accruals and deferred income	F 20,734 4,005 8,100 6,513 13,906 9,293 21,062	19,924 138,474 3,410 9,321 218,898	20,734 4,005 7,950 4,494 13,906 15,940	19,924 138,474 3,410 7,252 213,211
	83,613	390,027	67,029	382,271
Included within deferred income above is the following:
			2022	2021
Wales Council for Voluntary Action - Third Sector Resilience Fund for Wales Phase 2
The Waterloo Foundation The Hodge Foundation Garfield Weston Foundation Little Bryn Gwyn —September Hire Barnardos Rental Income April —June RCTCBC capital grant			1,102 2,000 1,458	59,968 50,000 13,452 75,000 1,823
			4,560	200,243

				Group 2022	Group 2021	Charity 2022	Charity 2021
	Bank loans (see note 20) Otherloans Accruals and deferred income			445,275 37,357 4,375	E 466,008 37,265 7,291	445,275 37,357	f 466,008 37,265
				487,007	510,564	482,632	503,273
20.	LOANS
	An analysis ofthe maturity		ofloans is given below:
						2022	2021
	Amounts falling due within one year on demand: Bank loans Otherloans					20,734 4,005	19,924 138,474
						24,739	158,398
	Amounts falling between Bank loans - 1-2years Other loans - 1-2years	one and two years:				21,533 5,912	20,734 3,917
						27,445	24,651
	Amounts falling due between Bank loans - 2-5 years Other loans - 2-5 years		two and five years:			71,156 15,964	70,394 16,760
						87,120	87,154
	Amounts falling due in more		than five years:
	Repayable by instalments:
	Bank loans Other loans					352,586 15,481	374,880 16,588
						368,067	391,468
21.	SECURED DEBTS
	The following secured debts are induded within creditors:
						2022	2021
	Bank loans					466,009	485,932

MOVEMENT IN FUNDS
			Net	Transfers
			movement	between	At
		At 1/4/21	in funds	funds	31/3/22
Unrestricted funds		E	E
General fund		4,681,163	54,066	3,553	4,738,782
Restricted funds
Spare Colwinston Charitable Trust National Lottery Community Fund - Working Families Millennium Stadium Charitable Trust BBCChildren in Need The National Lottery Heritage Fund-		2,187	102,834 14,000 988 (2,187) 3,219	(988)	102,834 14,000 3,219
Penyrenglyn Waterloo Foundation WCVA - Third Sector Resilience Fund The Tudor Trust RCTCBC - Parent Support RCTCBC - Young Gifted and Welsh Interlink - Adverse Childhood Experiences South Wales Police Charities Aid Foundation America Trivallis - Together Again		2,718	(2,718) 4,798 74,960 24,039 18,592 3,000 23,800 34,147 26,716 4,555	(856) (855) (854)	3,942 74,960 23,184 18,592 3,000 23,800 34,147 25,862 4,555
		4,905	330,743	~3,553)	332,095
TOTAL FUNDS		4,686,068	384,809		5,070,8?7

			Incoming	Resources	Movement
Unrestricted funds			resources f	expended f	in funds f
General fund			718,202	(664,136)	54,066
Restricted funds
Spare Colwinston Charitable Trust National Lottery Community Fund - Working Millennium Stadium Charitable Trust National Lottery Community Fund - Family BBCChildren in Need The Hodge Foundation The National Lottery Heritage Fund-	F Lin amilies ks		308,086 20,000 143,083 167,656 26,056 13,452	(205,252) (6,000) (142,095) (2,187) (167,656) (22,837) (13,452)	102,834 14,000 988 (2,187) 3,219
Penyrenglyn Waterloo Foundation WCVA - Third Sector Resilience Fund The Tudor Trust RCTCBC - Parent Support RCTCBC - Rhydyfelin Grant RCTCBC - Young Gifted and Welsh Integrated Care Fund - Keeping Connected Integrated Care Fund - Third Sector Small			50,000 74,960 49,000 276,212 15,101 11,685 9,272	(2,718) (45,202) (24,961) (257,620) (15,101) (8,685) (9,272)	(2,718) 4,798 74,960 24,039 18,592 3,000
Grant Scheme Community First interlink - Mental Health COVID Response Interlink - Winter Pressures Interlink -Adverse Childhood Experiences Tesco - Groundwork Parent Infant Foundation South Wales Police New Horizons Genesis - Kick Start Fund Pobl Trust Charities Aid Foundation America Swansea Council - Summer of Fun Trivallis - Together Again			10,000 81,548 62,640 10,441 23,800 1,100 4,400 37,926 2,000 10,000 1,000 50,089 8,000 4,555	(10,000) (81,548) (62,640) (10,441) (1,100) (4,400) (3,779) (2,000) (10,000) (1,000) (23,373) (8,000)	23,800 34,147 26,716 4,555
			1,422,062	~1,141,319)	330,743
TOTAL FUNDS			2,190,264	~1,605,455)	384,809

						Net	Transfers
						movement	between	At
Unrestricted funds					At 1/4/20	in funds f	funds f	31/3/21 f
General fund					4,539,025	109,332	32,806	4,681,163
Restricted funds
Little Bryn Gwyn Millennium Stadium Charitable Trust National Lottery - Awards for all National Lottery Community Fund-					5,000 9,594	5,000 (823) (600)	(5,000) (1,990) (8,994)	2,187
Working Families Covid-19 The National Lottery Heritage Penyrenglyn	Fund-					14,884 4,656	(14,884) ~1,938)	2,718
					14,594	23,117	~32,806	4,905
TOTAL FUNDS					4,553,619	132,449		4,686,068
Comparative net movement in	funds,		included		in the above are as follows:
						Incoming	Resources	Movement
Unrestricted funds						resources f	expended f	in funds
General fund						1,220,589	(1,111,257)	109,332
Restricted funds
Spare BBCChildren in Need - Dinas Colwinston Charitable Trust National Lottery Community Fund - Working Little Bryn Gwyn Millennium Stadium Charitable Trust National Lottery - Awards for all Big Lottery Fund - Family Links BBCChildren in Need National Lottery Community Fund-				Families		180,438 35,399 20,000 142,290 5,000 166,273 9,950	(180,438) (35,399) (20,000) (142,290) (823) (600) (166,273) (9,950)	5,000 (823) (600)
Working Families Covid-1 9 The Hodge Foundation Interlink Great Escape The National Lottery Heritage Fund-						48,000 6,548 1,000	(33,116) (6,548) (1,000)	14,884
Penyrenglyn Pen YCymoedd Community Fund Rhondda		- Upper				6,500 5,000	(1,844) ~5.000)	4,656
						626,398	~603.281	23,117
TOTAL FUNDS						1,846,987	~1,714,538)	132,449