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