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2021-03-31-accounts

INSTITUTE OF WELSH AFFAIRS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2021
elected impact
Our session on curriculum
and assessment
influenced
the work ofQualifications
Wales in developing
its
proposals
for Wales' new national
curriculum.
Discussion
from the event was captured as part oftheir formal
consultation
on their proposals,
and separate discussions
developed
from this event with stakeholders
in
attendance.
The event contributed
to a wider discussion
about the direction of curriculum
reform at atime
when this issue had a lower priority,
and Plaid Cymru
responded
to this debate by proposing
significant
changes to formal assessment
in Welsh schoois as part oftheir 2021 election manifesto.
Our session on business
after Covid-19 also proved
influential
in wider debates about the Welsh
Government's
support for business. The Minister for Economy and Transport was presented
with a range of
perspectives
from small business
owners as part ofthis event, with the Minister and the Deputy
Chair ofthe
Economy Ministerial
Advisory
Board both accepting an offer to visit one ofthe hospitality
businesses
to
discuss the issues they were facing in more detail. The issues raised were subsequently
the focus offurther
policy design.
Our discussion
on social care after COVID-19 contributed
to widespread
interest
in social care amongst the
Welsh public community.
Proposals that were discussed at this event were discussed
more widely afterwards
and found their way into multiple
party manifestos
for the 2021 election.
In particular,
concerns
highlighted
at
our event relating to the pay and conditions ofthe workforce were reflected
in Welsh Labour's
commitments
to
a National
Living Wage and the development
ofa National
Social Care Framework
for commissioning.
Feedback
63% attendees
said the sessions
introduced
them to new thinking
or new ideas and,
in testament
to our commitment
to
including
more diverse voices in the sessions, 81%said they heard from people they hadn't heard from before. We were
also pleased that feedback included
how our Rethinking
Wales sessions had enabled attendees
to make new and useful
contacts:-
'lt has helped
with the small business policy development
ofthe Welsh Liberal Democrats. '
7he events help me to understand
the Welsh context and as a result I am always more well informed. '
'It encouraged
me to link up with one ofthe speakers.
'
'Really enjoyed the format ofthe sessions, theinclusiveness
and the level ofquestioningl
debate. '
Very informative,
engaging
topics. Particularly
liked the guest speakers. '
'IWA events always have good speakers
who understand
the topic, have real life experiences
and talk sense
with solutions. '
When asked ifattendees
had done things differently
after the discussion,
responses
included:-
'Yes, Ibehave differently as a result -more thoughtful,
betterinformed.
'
'Imade some excellent contacts. The event also confirmed
my belief that there was a wider conversalion
to be
had. '

hat we said hat we did
e will engage with the 80+ members
ofour policy		 groups his work was held over until 2021-22 partly due to capacity
ocreate a network so their ideas contribute to our pipeline nd partly due to the global pandemic
ffuture policy work.
e will seek funds to continue to advocate for the e have successfully
resourced
further
influencing		 work
implementation
ofour recommendations
ofour flagship		 rom the Friends Provident
Foundation
Re-energising
Wales project
e will move our agenda-setting
events programme		 online, e reached
significantly
more people through		 the online
ith sessions
in partnership
with Cardiff University,		 Cardiff elivery ofour events and will be looking ahead to what a
ouncil, BBCCymru Wales and others blended'
online and in person events programme		 might look
ike in due course, when restrictions
permit.
e will publish
two editions ofthe welsh agenda
and		 further ewere pleased to welcome a number of new members to
evelop its strong online presence,
while maintaining		 high ur editorial group including
young people and		 people with
uality contributions
from an increasingly
diverse set		 of ived experience ofrace and disability,
and are		 valuing
the
uthors erspectives
that they bring.
e will review
all our work to ensure
it is inclusive,		 ur training
programme
review
will take place in FY2022.
ccessible and welcoming
to new members
and
articipants
e will engage our members
more broadly through		 various e are consciously
checking
in with our members		 more
eedback mechanisms,
and will launch our new		 equently
and our new membership
offer will be launched
embership
offer		 'n July 2021.
e will continue our training
programme,
and move		 it e successfully
moved our training
programme		 online,
nline during the lockdown
period ifnecessary		 eeking feedback from delegates
to improve
it		 each time
e will deliver against our funded
policy project		 any ofour planned
engagement
activities were pivoted
mmitments,
communicating
our findings
clearly and		 nline due to the pandemic,
so some ofour activities have
maginatively
in bite-size chunks so that they reach		 new een delayed.
udiences
e will appoint
new trustees,
ensuring
strong succession		 e successfully
appointed
four new trustees
in Spring
lanning
for long standing
trustees who have indicated		 their 020, and transitioned
to a new Treasurer
and		 Company
'ntention
to step down, and diversifying
our Board by		 ecretary.
eeking new trustees from Black, Asian and Minority Ethnic
coUps
e will develop our organisational
Welsh Language		 policy his will be presented
to the Board in September 2021
nd action plan
e will ensure our draft new Articles ofAssociation are ur new Articles ofAssociation were approved by our
ure proofed, and approved
by both our members		 and our embers at our AGM and by our regulatory
bodies		 in
egulatory
bodies.		 utumn 2020.


. rustees ar
events where these will facilitate the undertaking
oftheir		 encouraged
to attend
IWA events and other approp
role. All directors are also trustees ofthe charity.		 riate
exte		 rn
Risk management
Our risk management
approach
is reviewed
on a regular		 basis throughout
the year.
The Trustee's
report in our FY2020 year end accounts previously
identified
that we would seek to:
hat we said
Review our membership
offer		 hat we did
his was prepared
in FY2021 and will be launched
early
FY2022		 in
Review and strengthen
our Welsh language
policy and
oost our internal
capacity to communicate
in Welsh		 ur Welsh language
policy will be presented
to
or approval
in September 2021		 the Board
Review our risk table in light ofour experience ofthe
xisting and ongoing
impact ofcoronavirus
on the
rganisation		 Our overhead costs remain
low at or under 10%ofour total
xpenditure.
We will review our risk table again
in FY2022
onsult carefully and take a prudent
approach
to returning
o our small office, likely maintaining
a blend ofoffice and
omeworking		 s a team, we continued
to work from home,
in
regulations.
An office rota has been established
reparation
for a blended
approach		 line with
in
ove our public-facing
events online and ensure they are
s accessible to as many people as possible,
while
overing our costs		 e successfully
moved
all our events online and sourced
ew funding
aintain our reputation
fora high standard
ofdelivery of
ur existing commitments
and policy projects, providing
reassurance
to our donors		 e received consistently
positive feedback from
elegates and donors		 both
eek to involve more young people
in the work ofthe IWA		 e expanded
our editorial
group and purposefully
ommissioned
a series on young people starting		 their
reers in particular sectors impacted
by Covid

REFERENCE AND ADM REFERENCE AND ADM INISTRATIVE DETAILS
Trustees
Ms B Darwin Chair
Ms H C Molyneux
Mr N G Griffiths Treasurer until 19March 2021 Resigned 19March 2021
Dr EAp Gwilym
Ms F Beecher
Dr D0 Clubb
Ms A J Copus		 Resigned 11 December 2020
Professor G H Holtham Resigned 11 December 2020
Ms V E Livingston
Professor LJ McAllister
Professor
KJ Morgan
Ms H FMortlock Pearce
Mr A Pickles
Mr M Thomas
Ms LSFarhat
Ms SWilliams
Ms SJ Prescott		 Treasurer from 19March 2021 Appointed
Appointed
Appointed		 29 July 2020
29July 2020
29 July 2020
Ms A E C Wride Appointed 29 July 2020
Company
Secretary
Ms LS Knight
Ms SJ Prescott		 Until 22 January 2021
From 18March 2021
Independent
Examiner
Watts Gregory LLP
Chartered
Accountants
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County ofCardiff
CF238RS
Senior Management Team
Ms AJV Miller

2021 2020
Unrestricted Restricted Total Total
fund funds funds funds
Notes E' F
INCOME AND ENDOWMENTS FROM
Donations and legacies 3 248,043 248,043 182,315
Charitable activities
General 163,320 37,500 200,820 119,546
Investment income 859 859 475
Total 412,222 37,500 449,722 302,336
EXPENDITURE ON
Raising funds 48,325 48,325 41,952
Charitable activities
General 303,256 17,818 321,074 298,981
Total 351,581 17,818 369,399 340,933
NET INCOME/(EXPENDITURE) 60,641 19,682 80,323 (38,597)
RECONCILIATION
OF FUNDS
Total funds brought forward 85,164 318 85,482 124,079
TOTAL FUNDS CARRIED FORWARD 145,805 20,000 165,805 85,482

DONATIONS
AND LEG		 ACIES
2021 2020
Donations
Gift aid
Grants
Subscriptions
Patrons		 15,440
5,947
116,317
100,431
9,908		 27,778
8,243
31,134
94,152
21,008
248,043 182,315
Grants received, induded in the above, are as follows:
2021 2020
Friends Provident
Foundation
The Waterloo Foundation
Legal Education
Foundation
WCVA Third Sector Resilience
Job Retention Scheme		 Fund for Wales Scheme 50,000
10,000
45,000
11,317		 4,684
10,000
16,450
116,317 31.134
INVESTMENT INCOME
2021 2020
F
Deposit account interest 859 475
INCOME FROM CHARITABLE ACTIVITIES
2021 2020
Event income
Training
income
Carnegie
UK Trust
CREW: Centre for Regeneration
Grants
Other income
University
ofSouth Wales		 Excellence in Wales 27,214
4,103
45,275
71,878
47,500
4,850		 19,945
10,097
37,525
24,986
17,500
1,160
8,333
200,820 118,548

Grants received, i ncluded
in t		 he above, are as follows:
2021 2020
F F
Books Council of Wales 17,500 17,500
Friends Provident Foundation 5,000
National
Lottery Communities		 Fund 10,000
Esmee Fairbaim Foundation 15,000
47,500 17,500
RAISING FUNDS
Raising donations and legacies
2021 2020
Staff costs 43,542 36,297
Staff training 40 236
Support costs 4,743 5,419
48,325 41,952
CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 8)
f		 note 9) Totals
General 266,395 54,679 321,074
DIRECT COSTS OF CHARITABLE ACTIVITIES
2021
F		 2020f
Staff costs 224,969 187,536
Event costs 1,990 6,582
Training costs 191 2,431
Direct project costs 39,040 45,756
Staff training 205 1,220
Direct recruitment costs 409
266,395 243,934

STAFF COSTS
2021 2020
F F
Wages and salaries
Social security costs
Other pension costs		 252,785
21,659
15,838		 212,953
18,381
10,648
290,282 241 982
The average
monthly		 number ofemployees during the year was as follows:
2021 2020
Charitable
activities		 8 7
The number ofemployees whose employee benefits (exduding employer pension costs) exceeded f60,000was:
870,001 - f80,000 2021
1		 2020
1

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
F
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 161,181 21,134 182,315
Charitable
activities
General 102,046 17,500 119,546
Investment
income		 475 475
Total 263,702 38,634 302,336
EXPENDITURE ON
Raising funds 41,952 41,952
Charitable
activities
General 248,717 50,264 298,981
Total 290,669 50,264 340,933
NET INCOME/(EXPENDITURE) (26,967) (11,630) (38,597)
RECONCILIATION OF FUNDS
Total funds brought forward 112,131 11,948 124,079
TOTAL FUNDS CARRIED FORWARD 85,164 318 85,482
14. TANGIBLE FIXEDASSETS
Fixtures
and Office
Website
E		 fittings
f		 equipment Totals
COST
At 1 April 2020 and 31 March 2021 9,310 5,520 16,681 31,511
DEPRECIATION
At 1 April 2020 9,310 2,880 16,314 28,504
Charge for year 264 92 356
At 31 March 2021 9,310 3,144 16,406 28860
NET BOOK VALUE
At 31 March 2021 2,376 275 2,651
At 31 March 2020 2,640 367 3,007

'I5. DEBTORS:A MOUNTS
F		 ALLING DUE WITHIN ONE YEAR
2021 2020
Trade debtors
Prepayments		 and accrued income F
1,236
7,075		 26,930
6,969
8,311 33,899
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
F
Other loans (see note 17)
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred
income		 15,000
670
4,055
819
5,488
33,204		 2,080
7,573
5,120
1,603
103,663
59.236 120,039

2021 2020
Amounts falling due within one year on demand:
Other loans 15,000

Minimum
lease payments
under non-cancellable
operating		 leases fall due as follows:
2021 2020
F F
Within one year
Between one and five years		 5,356
7,674		 5,356
11,155
13,030 16,511

MOVEMENT IN F UNDS
Net
movement At
At 1/4/20
f		 in funds
f		 31/3/21
Unrestricted funds
General fund 85,164 60,641 145,805
Restricted funds
Governance Scoping project 318 (318)
Our Land project 20,000 20,000
318 19,682 20,000
TOTAL FUNDS 85,482 80,323 165,805
Net movement in funds, induded in the above are as follows:
incoming Resources Movement
resources
f		 expended
f		 in funds
f
Unrestricted funds
General
fund		 412,222 (351,581) 60,641
Restricted funds
'the welsh agenda' print and online 17,500 (17,500)
Governance
Scoping project		 (318) (318)
Our Land project 20,000 20,000
37,500 ~17,818 19,682
TOTAL FUNDS 449,722 ~389,399) 80,323
Comparatives for movement in funds
Net
movement At
At 1/4/19
f		 in funds
f		 31/3/20
f
Unrestricted funds
General
fund		 112,131 (26,967) 85,164
Restricted funds
Re-energising Wales 11,948 (11,948)
Governance
Scoping project		 318 318
11,948 11,630 318
TOTAL FUNDS 124,079 ~38,597) 85.482