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2023-03-31-accounts

Trustees M Biackbum M Biackbum
JG Fraser
KAGrllflths
BA Hughes
0 LIJones
SRJones
CA Kirkwood
N Lane (Appointed 16November
2022)
J Niorgan
F0P Morgan-I-Iamlllon (Appointed 13March 2023)
M E Roberts
Secretary AGreenough
Charity numbe r 1076680
Company number 3516328
Registered office IJnits 1,2, 48 5 Holyhead Enterprise Centre
Kingsland Road
Ho iyhead
Anglesey
LL65 2HY
Auditor Crastmere Limited
Unit F1,Intec
Ffordd y Pare
Pare
Man el
Bangor
Gwynedd
United Kingdom
Li 5T4FG
Accountant Azets
Brynford
House
21 Brynford Street
Holywell
Fllntshlre
United Igngdom
CHS 7RO

Page
Trustees'
reporl		 1-4
Statement
ofTrustees'		 responsfblfifies
independent
audfior's		 report ft - 8
Sfaternent offinsnciel activities
Balance sheet 10-11
Statement ofcash flows 12
Notes to the finenciel statements 13-27

Unresbicted Restricted Total Unrestricted Restricted Total
funds funds funrfe funds
2023 2D23 2023 2022 2022 2022
Notes 6 8 8 8 6 8
Iftggtfttb(fgffb
Donatlans
and
legacies 3 17,735 17,736 12,315 12,315
Charitable
activities		 4 1,277,066 1,277,066 1,283,125 1,283,125
Other tmding
activities 5 53,121 53,121 1;570 1,570
Investme nta 6 1,444 1,444 58
Total income 1,349,368 1,349,366 1,297,068 1,297,06li
~Ed II
Charitable
actvttlss		 7 1,301,690 1,30'},690 1,139,422 1,'i39,422
Aduariel
gama/(lasses} in
respect ofpension 12 1,000 1,000 53,DDD
schemes
Net incoming resources
before transfers 46,676 48,676 210,646 210,646
Gross transfers
between
funds		 18,444 (18,444) 18,444 ('l8,444)
Net Incamef(expenditure)
for the yeari
Net movement ln funds 67,120 (18,444) 48.676 229.090 (18,444) 210,846
Fund balances at 1April
2022 932,434 296,215 1,228,649 703,344 314,659 1,018,0D3
Fund balances at 31
March 2D23 999,554 277,771 '},277,325 932,434 296,215 1,228,649

2023 2022
lfotes 8 E
Fixed assets
Tangible assets 14 554,371 577,426
Current assets
Debtors 100,118 102,782
Cash at bank and In hand 806,323 792,775
906,44'I 895,557
Creditors: amounts falling due wlthln
one year 17 (86,487) (99,832)
Net current assets 819,954 795,725
Totat assets less current IlsbIBttes 1,374,325 1,373,151
Creditors: amounts faglng due after
more then one year 18 (46,502)
Provlstons for liabilities 19 (97,000) (98,000)
Net assets 1,277,325 1,228,849
Income funds
Restricted funds 21 277,771 296315
flan(0919IU916(a
Designated funds 22 237,979 233,423
General unrestricted funds 761,575 899,011
932,434
1,277,325 1,228,649

2023 2022
Notes 8
Cash flows from operating activities
Cash generated
from operations		 25 60,190 101,205
Investing acUvlges
Purchase oftangible
fixed assets		 (36,128)
Proceeds from disposal of inveelmenis 1,000 53,000
Investment Income received 1,444 56
Net cash generated
from investing
activities 2,444 16,930
Financing activities
Repayment ofbank fonna (49,086) (7,468)
Net cash used In flnandng activities (49,086) (7,468)
Nst increase in cash and cash equivalents 13,548 110,667
Cash and cash eqmvaienis at beginmng ofyear 792,775 682,108
Cash and cash equivalents at end of year 806,323 792,775

Unrestricted Unrestricted
funds funds
2023 2022
8 8
Donations and gifts 17,735 12,315
4 Charitable activities
2023 2022
8 8
Grants end Rents 1,277,068 1,283,125
Grants received amounted to 8962,663
Rents received amaunted to 831'4,403
5 Other trading activities
Unrestricted Unrestricted
funds funds
2023 2022
8 8
Olfice charges end contrihutions 40,887 1,570
Management Income 12,234
Olher trading acfivfiies 53,121 1,570
Unrestricted Unrestricted
funds funds
2023 2022
f
8snk Interest received 1,444 58

2023 2022
8 8
Staff costs 882,993 827,858
Depreciation
and impairment		 23,055 19,112
Rent rates end Insurance 129,744 125,892
Heat and Light 26,917 25,171
Adverlising
and recruifment		 2.718 2,949
Suppart,
travel 8 subsistence		 13,319 16,352
Training
costs
Other chadtable
expenditure		 9,639
207232		 8,687
.120,227
1,295,617 1,146448
Share af governance costs (see note 8) 6,073 (8,828)
1,301,690 1,139,422
Support costs
Support Governance 2022
costs costs
8
Audit fees 3,120 3,120 3,120
Legal and professianel 2.142 2,142
Central Overheads Charge (9,948)
AGhl Coals 811 811
6,073 6,073 (6,828)
Anelysed
between
Charitable
activiTies		 6,073 6,073 (6,826)

The average
 manthly number
ofemployees
during
the year w		 ss:
2023 2022
Number Number
Llys y Gwynt duster 13 12
Coedlye Cluster 12 12
Homeless
Prevention		 end Oay Centre 8 8
Other Projects 4 3
Adnilntetrattve Support 3 3
Total 40 38
Employment casts 2D23
8
Wages and salaries 882,093 827,858

Pension scheme
~ Defined Benefit		 (Continued
co ct I
n
f
nln
end C		 I Ba ncaa ofthe Defined Benefit Obli tlons
Period ended
31 March 2023
8000's
Defined benefit obligation at start of period 785
Current service cost
Expenses
Interest expense 22
Member ccntrlbutlons
Actuarial losses (gains) due to scheme experience (18)
Actuarial losses (gains) due to changes In demographic assumptions
Actuarial losses (gains) due to changes in financial assumptions (233)
Benefits paid and expenses (2'I)
Defined benefit obllgaUon
at end		 ofperiod 547
In Balances of the Fair Value of Plan Assai
Period ended
31 March 2023
f000's
Fair value of plan assots
Interest income		 at start of p erlod 597
20
Experfence
on plan assets (excluding		 amounts induded in interest (275)
income) —
gain (toss)
Employer contributions 20
Member contributions
Benefits paid and expenses (21)
Fair value of plan assets at end ofperiod 450
The actual return
on the		 plan assets including any changes in share ofassets) over the period ended
31 March 2023 vtas (fi265.000)
R nlsed
In		 Stat e o e SOCI
Pered from 31 March 2022
to 31 March 2023
fi000's
Current service cost
Expenses 3
Net Interest expense 2
Defined benefit ixmts recognised In Statement ofComprehernslvs Income (SoCI) 5
D
n
B
t
Reco		 nls
Period ended
31 March 2023
(fOOPs)
Experience on plan assets (excluding amounts Included in net (276)
interest cost)—
gaIn(loss)
Experience gains and losses arising on the plan liabfiilies— 18
geln(loss)
Eifects ofchanges
in the		 demographic assumptions underlying
the present value of1he defined benefit obligation - gatn fioss)
Effects ofchanges
In the		 financial assumptions underlying the
present value ofthe dslined benefit obligation —gain(loss)
Total actuarial gains end losses (before restriction due to some (23)
ofthe surplus
not being recognisabls)		 —
gsingoss')
Total amountmcognhed In Other Recognised Gains/(Losses) (23)

Pension schem e ~ Defined Benefit (Continued)
Kyy~sum
tlons
31 March 2023 31 March 2022
Discount Rate %per annum 4.86
%		 per annum 2.79
inRsbon (RPI)
Infisgon (CPI)
Salary Growth		 3,19
277
3.77		 3,54
3.17
4.17
Aldwance for commutatdn of pension for cash 75%ofmax 75%of max
et refirement agowanae allowance
The mortality
assumptians		 adopted et 31 March 2023 imply the faldwing life expectancies:
Life expectancy atsge 65
(Years)
Mfale retiring
iln		 2023 21.0
Female retiring fn 2023 23.4
Male retiring
In		 2043 22.2
Female rstuing in 2043 24.9
A~s
31 Mlarch 2023 31 March 2022
(5000's) (8000's)
Global Equity 8 134
Absolute
Return		 5 28
Distressed
Opportunities		 14 25
Credit Relative Value 17 23
Altemabve
Risk		 Prernia 1 23
Emerging
Market		 Debt 2 20
Risk Sharing 33 23
Insurance-Linked Securities 11 16
Properly
Irrire slructura		 19
51		 19
50
Private Debt 20 18
Opportunistic
Rliquid Credit		 19 23
High Yfeld 2 6
Opportunistd
Credit		 2
Cash 2
Corporate
Bond		 Fund
47
L&quid Dred&t
Lang Lease Property 14 18
Secured In ocme 21 26
Llsbllih
Driven Investment		 208
195
Currency
Hedging		 (3)
Net Current Assets 2
Total Assets
450 692

Unrestricted Unrestricted
funds funds
2623 2022
6
Actuarial gain/(loss) ln respect of pension schemes 1,000 53,000

Frsahuld
land		 aqulpmaut, rahu
sud huudlnea fixtures snd
fitunas
6
Cost
At 1 April 2022 897,949 177,781 875,730
At 31 March 2023 697,949 177,781 875,730
Depreciation snd Impairment
At 1 April 2022 157,488 140,836 298,304
Depreciation charged in the year 11,972 11,083 23,055
At 31 March 2023 169,440 151,919 321,359
Carrying
amount
At 31 March 2023 528,509 25,882 554,371
At 31 March 2022 540,481 36,945 577,428

Debtors
2023 2022
Amounts
hdling due within one year:		 6 6
Trade debtors 63,151 20,221
Other debtors 18,674 74,733
Prepsyments and accrued income 'I8,293 7,828
'l00,118 102,782

2023 2022
6 K
Bank loans 8,317 55,403
Payable within one year 6,317 8,901
Payable after one year 46,502
17 Creditors: amounts falling due within one year
2023 2022
Notes 6
Bank loans 16 6,317 8,901
Other taxetlon end social security 12,612 13,057
Deferred grants 20 36,811 18,811
Trade creditors 4,781 29,769
Other creditors 2,582 2,572
Accru ala 23,384 26,722
86,487 99,832
18 Credltonu amounts falling due after more then one year
2023 2022
Notes 6
Benkloans 46,502
19 Provisions for llsblgtles 2023 2022
6 2
97,000 98,000
Movements on provisions:
At 1 April 2022 98,000
Actuedal
(gain)doss		 (1,000)
At 31 March 2023 97,000

20 Government
grants		 (Continued)
Deferred
Income Is Included		 In the financial statements as follows:
2023f 2022
8
Deferred income ls Included within:
Current
liabilities		 36,811 18,811
Movements
ln the yean
De~d income at 1 April 2022		 '(8,811 20.449
Released from previous periods (1,638j
Resowces deferred
In the year		 18,000
Deferred Income at 31 March 2023 36,811 18,811

Balance at at Transfers Transfers Transfers Balance at Transfers Balanca at
1Apra 2C21
f		 f 1Apra 2C22
f		 f 21 March 2S22
f
Designated
major repair fund		 29,000 4423 33423 4i558 37i979
Designated
HEC redevelopment		 fund 100,000 100,000 200,000 200,000
129,000 104,423 233,423 4,556 23T,9T9
23 Analysis ofnetassets
between		 funds
Unrestricted Restricted Total I/nrsstrlcted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
f f f f
Fund balances at 31
March 2023 ere
represented
by:
Tangible assets 554,371 554,371 577,426 577,426
Current assets/(Iiebfiies) 542,183 277,771 819,954 499,610 295215 795,726
Long term lisbl8tles (46,502) (46,502)
Provisions (97,000) (97,000) (98,000) (98,000)
999,554 27T,771 1,277,325 932,434 296,215 1,228,649
24 Related parly transactions
There were na disclosable
related		 party transactions during the year (2022 - none).
25 Cash generated
from operations		 2023f 2022f
Surplus far the year 48,676 210,846
Adjustments
for.
Investment
Income recognised		 In statement offinancial actlvldes (1.444) (58)
Gain on disposal ofInvestments (1,000) (63,000)
Depreciation
and impairment		 oftangible fixed assets 23,055 t9,112
Movements
in working capital:
Decrease/(irlcrease)
in debtors		 2,664 (27,601)
(Decrease)/increase
in creditors		 (28,761) 25,644
Increase
In provisions		 (1,000) (72,000)
Increase/(decrease)
In deferred		 Income 18,000 (1,638)
Cash generated
from operatIons		 60,190 101,205

26 Analysis
ofchanges
In net funds
At 1Apru 2022 Oaah eowaAt 31 March 2023
6 5
Cash elbenk and ln hand 792,775 13,548 806,323
L'oans felling due wl(hln one year (8,901) 2,584 (6,317)
Loans falling due eRer mare than one year (46,502) 46,502
737,372 800,006