2022-03-31-accounts

Digital reach	Digital reach	in FY2022	in FY2022	in FY2022
We	have continued		to analyse				contributors					to the welsh				agenda online and are pleased that	over 100 different people
have	written over 140times for						us since			April		2021.
	Over 81,000		people (up				6.38%)			visited the IWA website over the year which led to nearly 170,000total hits
	(up nearly 15%).
	We published		12new			podcasts				over		the	year	and, overall, there were 2,945 'listens'.
	Our Youtube		channel gained					1,161			views		ofour videos.
	At the	end ofApril			2022, nearly				18,705 people						followed the IWA on Twitter, around 700		more people than in
	March	2021.
	Over 1,547 people				follow our			Facebook page						at the time ofwriting.
	At the	end ofMarch 2021,there								were		824 people				following our Linkedln page, which is	a 55.48%increase on
	the previous		year.
What we said																What we did
~	Further	expanding			the	reach and				online delivery						This year, we have reached over	1,000 more people
	of our	agenda-setting					events			programme,				in		than last year through delivering our work online.
	partnership		with		our		members					and	key
	stakeholders.
~	Further expanding			our online training							programme.					While we pride ourselves on the	quality discussions
																that are possible with small	groups of training
																delegates, and this is consistently appreciated in
																feedback, we are pleased to have	tripled our coverage
																and attracted participants from all	parts of Wales. We
																have also successfully adapted	our training for
																visually impaired people, as part of our widening
																access work.
~	Engaging	our	previous			policy		group			members				in	At our AGM we discussed how	we might engage
	shaping	our	new		networks			focussing					on	our		members in contributing to our	future policy work,
	priority themes.															encouraging other members who may not have engaged with us before. This is always a balance
																between what debate needs to	be convened, what
																policy/legislation needs to be influenced, the expertise
																and resources with which we can support members'
																participation and what is fundable.	We will continue to
																seek different ways to engage with members while
																being dear about what is practicable from a
																resourcing perspective.
~	Delivering	against			our		funded			policy			project			We delivered on schedule against all our funded
	commitments.															policy projects.
~	Developing a new media					policy		project.								Our new Media and Democracy	Project will start in
																April 2022.
~	Our training programme					review			will take place						in	We reviewed our training programme and will be
	FY2022.															launching a new research skills	course in Autumn
																2022.
~	Drawing	up a new		Business Plan.												We engaged Richard Newton Consulting to support
																us in drawing up a new Business Plan. This was
																agreed by the IWA Board at the	next meeting after
																this reporting period.

~	Implementing	our	new membership	offer.		We successfully increased our membership rates in
						FY2022 with negligent drop-out rates, and consulted
						with our members as to what they considered most
						valuable. Having undergone a significant CRM
						upgrade in September, we are now working on an
						updated membership offer, which will be implemented
						in summer 2022. This will include strengthening our
						brand with new assets and improved content, not only
						highlighting our impact but also demonstrating our
						value to existing and prospective members. We are
						also working on an improved user journey on our
						website, streamlining our member communications
						further and creating a legacy communications plan.
~	Implementing	our	organisational	Welsh	Language	Our Welsh Language policy was approved by the
	policy.					Board.

to our new Business Plan and the cost of moving our office from Jam central Cardiff.	to our new Business Plan and the cost of moving our office from Jam central Cardiff.	e	s S	treet	in	Ca	rdiff	Bay t	o ou	r n	ew	h	ub in	sbar	c in
Reserves policy
The Trustees have examined the charity's requirements for reserves		in the light of					the	main risks		to	its operation.				We
have	reviewed our reserves policy and established that unrestricted			funds	not		committed		or	invested should					be
equivalent to F70,000 to allow the charity to continue to operate in		the		event	of	an unexpected				drop		in	funding.		Our
reserves policy will continue to be kept under dose review in 2022/23.
Like many small charities, we continue to work towards achieving a sustainable					financial			model	that	includes a				variety of
short-	and medium-term funding from diverse sources, as well as	core funding.					As	at the	balance			sheet		date	the
organisation had free reserves ofF67,610(2021:f143,154).
PLANS FOR FUTURE PERIODS
Strategy
In line	with our strategy, planned work includes:
Providin an o en inclusive and informed latform for robust debate
	Continuing to seek out a more diverse group ofcontributors to		our online and print publications,									seeking
	financial support to achieve this, trialling different approaches	and		learning		from		them
	Shaping our events programme around key medium to longer-term			issues		in	relation to Wales'				democracy
	and economy, convening panels with a mixed ofexperiences	and		viewpoints
	Exploring how best we can engage more 'lay' audiences in our		discussions,				outside the existing					public policy
	community
Providin o ortunities for eo le in Wales to increase their knowled			e of how decisions are						made		and		to make their
voices	heard
	Maintaining and further developing our highly regarded training		programme
	Working with our members and partners to reach and offer training			bursaiies			to	under-represented					groups
	Continuing to mentor on the Equal Power Equal Voice scheme,		actively		supporting people to contribute									to
	public life in Wales in a wide variety ofways
Develo	in and secuiin commitment to im lementin ideas that can transform				Wales in			three	riori	areas
	Delivering effectively on our current funded commitments
	Resourcing two new multi-year projects focussed on our policy	priorities			in relation			to Wales'		democracy				and
	economy
Or
	Implementing our new Business Plan
	Updating our membership offer
	Setting out a plan for becoming a Net Zero organisation
	Supporting the wellbeing and professional development ofour small			staff team.

Our risk mana	gement a	ppro	ach is reviewed on a regular basis throughout the year.	ach is reviewed on a regular basis throughout the year.	ach is reviewed on a regular basis throughout the year.	ach is reviewed on a regular basis throughout the year.	ach is reviewed on a regular basis throughout the year.	ach is reviewed on a regular basis throughout the year.	ach is reviewed on a regular basis throughout the year.
The Trustees'	Report in	our	FY2021 year end accounts previously identified that we would seek to:
What we said									What we did
Draw up a new Business			Plan		and Marketing		Strategy		We commissioned Richard Newton Consulting	to
and maintain	our budgeted			income and		expenditure			support the development of our new Business	Plan
under close	review, adjusting			our plans accordingly.					which was subsequently approved by our Board
									following this reporting period.
Review our	risk table	in light		of our experience				of the	We maintained our risk table under close review	and
existing and	ongoing	impact			of coronavirus			on the	updated it as part ofour business planning process.
organisation.
Consult carefully and		take		a	prudent	approach to			After 8 years, we left James Street and moved	to a
returning to	our small	office, likely maintaining						a blend	small hub in sbarc, in Cardiff University's innovation
ofoffice and	home-working.								hub in central Cardiff. As a result, we reduced	our
									costs, and are also able to offer our staff additional	co-
									working space in a significantly improved working
									environment, with improved access to technology.	We
									work in a hybrid manner and review our approach
									regularly with our team.

							2022	2021
					Unrestricted	Restricted	Total	Total
					fund	funds	funds	funds
				Notes		E	F
INCOME AND ENDOWMENTS			FROM
Donations	and legacies				191,062		191,062	248,043
Charitable	activities
General					104,902	41,376	146,278	200,820
Investment	income				595		595	859
Other income					3,000		3,000
Total					299,559	41,376	340,935	449,722
EXPENDITURE ON
Raising funds					55,594		55,594	48,325
Charitable	activities
General					313,678	53,326	367,004	321,074
Total					369,272	53,326	422,598	369,399
NET INCOME/(EXPENDITURE)					(69,713)	(11,950)	(81,663)	80,323
RECONCILIATION		OF FUNDS
Total funds	brought forward				145,805	20,000	165,805	85,482
TOTAL FUNDS CARRIED FORWARD					76,092	8,050	84,142	165,805

				2022	2021
		Unrestricted	Restricted	Total	Total
	Notes	fundf	funds	funds	funds E
FIXEDASSETS
Tangible assets	14	8,482		8,482	2,651
CURRENT ASSETS
Debtors Cash at bank and in hand	15	64,062 83,172	8,050	64,062 91,222	8,311 214.079
		147,234	8,050	155,284	222,390
CREDITORS
Amounts falling due within one year	16	(79,624)		(79,624)	{59,236)
NET CURRENT ASSETS		67.610	8,050	75,660	163,154
TOTAL ASSETS LESSCURRENT LIABILITIES		76,092	8,050	84,142	165,805
NET ASSETS		78,052	8,050	84,142	185,805
FUNDS	19
Unrestricted funds Restricted funds				?6,092 8,050	145,805 ~20 000
TOTALFUNDS				84,142	165,805

3.	DONATIONS AND LEGACIES
									2022			2021
									F			F
	Donations								2,505			15,238
	Gift aid								6,410			5,947
	Publications								491			202
	Grants								69,424		116,317
	Subscriptions								102,324		100,431
	Patrons								9,908			9,908
									191,062		248,043
	Grants	received,	included		in the above, are		as follows:
									2022		2021
									F
	Friends	Provident		Foundation					50,000			50,000
	The Waterloo Foundation											10,000
	WCVA	Third Sector Resilience Fund for Wales Scheme							19,424			45,000
	Job Retention Scheme											11,317
									69,424		1	16,317
4.	INVESTMENT INCOME
									2022		2021
									F			F
	Deposit	account	interest						595			859
5.	INCOME FROM		CHARITABLE ACTIVITIES
									2022		2021
									F			F
	Event income								24,479		27,214
	Training	income							16,502			4,103
	Carnegie UK Trust								17,729		45,275
	CREW: Centre for
	Regeneration Excellence				in
	Wales								41,192		71,878
	Grants								41,376		47,500
	Other income								5,000			4,850
									146,278		200,820
	Included	in income		from charitable		activities	is the following:
		an amount ofF17,729 (2021:F45,275) from the Carnegie Places project.						Trust UK towards	the Understanding		Welsh
		an amount		ofF41,192(2021:F71,878)from CREW: Centre for Regeneration					Excellence	in Wales
		towards the		Foundational		Economy	project.

Grants received,	i	ncluded in	the above, are a	s follows:
						2022	2021
Books Council of	Wales					17,500	17,500
Friends Provident		Foundation				5,000	5,000
National Lottery Communities			Fund				10,000
Esmee Fairbairn	Foundation						15,000
Joseph Rowntree		Charitable	Trust			11,376
Friends Provident		Foundation	- Re-energising	Wales		7,500
						41,376	47,500
RAISING FUNDS
Raising donations		and legacies
						2022	2021
						F	F
Staff costs						47,035	43,542
Staff training						53	40
Direct recruitment		costs				856
Support costs						7,647	4,743
						55,591	48,325
Investment management costs
						2022f	2021 f.
Interest payable and similar charges
Aggregate amounts						55,594	48,325
CHARITABLE ACTIVITIES COSTS
					Direct	Support
					Costs (see	costs (see
					note 8)	note 9)	Totals
					E		E
General					288,002	79,002	367,004

DIRECT CO	STS	OF CH	ARITA	BLE ACTIVITIES
						2022	2021
						F	F
Staff costs						243,013	224,969
Event costs						153	1,990
Training costs						1,142	191
Direct project	costs					37,553	39,040
Staff training						272	205
Direct recruitment		costs				4,421
Depreciation						1,448
						288,002	266,395
SUPPORT COSTS
				Raising	Charitable	Governance
				funds	Activities	costs	Totals
				F	F
Raising donations		and legacies		7,647			7,647
General					39,525	39,4?7	79,002
				7,647	39,525	39,477	86,649
NET INCOME/(EXPENDITURE)
Net income/(expenditure)			is stated after charging/(crediting):
						2022	2021
						F	F
Depreciation	-owned assets					4,099	356
Independent	examination		fee			2,600	2,448
Other fees paid to		independent		examiners		1,067	872

STAFF CO	STS
				2022	2021
				F
Wages and	salaries			276,173	252,785
Social security costs				23,585	21,659
Other pension costs				13,808	15,838
				313,566	290,282
The average monthly		number ofemployees	during the year was as follows:
				2022	2021
Charitable	activities			9	8

The number ofem	pl	oyees who	se employee benefits	(excluding	employer pension	costs) exceeded	F60,000was
						2022	2021
F70,001 - F80,000						1	1
The total employee		benefits of	the key management	personnel	ofthe charity were	f92,060(2021:F121,622).
COMPARATIVES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES
					Unrestricted	Restricted	Total
					fund	funds	funds
							F
INCOME AND ENDOWMENTS			FROM
Donations and legacies					248,043		248,043
Charitable activities
General					163,320	37,500	200,820
Investment income					859		859
Total					412,222	37,500	449,722
EXPENDITURE ON
Raising funds					48,325		48,325
Charitable activities
General					303,256	17,818	321,074
Total					351,581	17,818	369,399
NET INCOME					60,641	19,682	80,323
RECONCILIATION	OF FUNDS
Total funds brought		forward			85,164	318	85,482
TOTAL FUNDS CARRIED FORWARD					145,805	20,000	165,805

14.	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
					Fixtures
					and	Office
				Website F	fittings F	equipment f	Totals F
	COST
	At 1 April 2021			9,310	5,520	16,681	31,511
	Additions			9,930			9,930
	Disposals				~5,520)	~16,681)	i22,201)
	At 31 March 2022			19,240			19,240
	DEPRECIATION
	At 1 April 2021			9,310	3,144	16,406	28,860
	Charge for year			1,448	2,376	275	4,099
	Eliminated on disposal				~5,520)	~16.681)	i22,201)
	At 31 March 2022			10,758			10,758
	NET BOOK VALUE
	At 31 March 2022			8,482			8,482
	At 31 March 2021				2,376	275	2,651
15.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
						2022	2021
						f	f
	Trade debtors					56,279	1,236
	Prepayments and accrued		income			7,783	7,075
						64,062	8,311
16.	CREDITORS: AMOUNTS		FALLING DUE	WITHIN ONE YEAR
						2022	2021
						F	F
	Other loans (see note 17)					6,475	15,000
	Trade creditors					4,104	670
	Social security and other	taxes				6,535	4,055
	VAT					9,149	819
	Other creditors					1,609	5,488
	Accruals and deferred income					51,752	33,204
						79,624	59,236

		2022 f	2021 f
Amounts	falling due within one year on demand:
Other loans		6,475	15,000

Minimum lease payments under non-cancellable operating	leases fall due as follows:
	2022 f	2021 f
Within one year	2,294	5,356
Between one and five years	1,899	7,674
	4,193	13,030

MOVEMENT IN F	UNDS
				Net
				movement	At
			At 1/4/21	in funds f	31/3/22 f
Unrestricted funds
General fund			145,805	(69,713)	76,092
Restricted funds
Our Land project			20,000	(20,000)
Re-energising Wales project				(1,700)	(1,700)
Media in Wales				9,750	9,750
			20,000	~11,950)	8,050
TOTAL FUNDS			165,805	~81,663)	84,142
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			299,559	(369,272)	(69,713)
Restricted funds
'the welsh agenda'	print and online		17,500	(17,500)
Our Land project			5,000	(25,000)	(20,000)
Re-energising Wales project Media in Wales			7,500 11,376	(9,200) ~1,626)	(1,700) 9,750
			41,376	~53.326	~11,950)
TOTAL FUNDS			340,935	~422,598)	~81,663)