| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | I | to | 6 | |
| Report ofthe Independent Auditors |
7 | to | 9 | |
| Statement ofFinancial | Activities | 10 | ||
| Balance Sheet | 11 | to | 13 | |
| Cash Flow Statement | 14 | |||
| Notes to the Cash Flow Statement | ||||
| Notes to the Financial | Statements | 16 | to | 25 |
| Detailed Statement of | Financial Activities | 26 | to | 27 |
| 31.3.22 | 31.3.21 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| fund | fund | funds | funds | ||||
| Notes | |||||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
2 | 9,550 | 9,550 | 6,792 | |||
| Charitable activities |
|||||||
| Castle Activities | 100,644 | 34,099 | 134,743 | 335433 | |||
| Other trading activities | 3 | 378,163 | 378,163 | 128,800 | |||
| Investment income |
54 | 54 | 26 | ||||
| Total | 488,411 | 34,099 | 522,510 | 471,051 | |||
| EXPENDITURE ON | |||||||
| Raising funds | 6 | 200,416 | 200,416 | 111,017 | |||
| Charitable activities |
|||||||
| Castle Activities | 71,938 | 263,972 | 335,910 | 315,914 | |||
| Total | 272,354 | 263,972 | 536,326 | 426,931 | |||
| NET INCOME/(EXPENDITURE) | 216,057 | (229,873) | (13,816) | 44,120 | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 764,116 | 8,690,896 | 9,455,012 | 9,410,892 | ||
| TOTAL FUNDS CARRIED FORWARD | 980,173 | 8,461,023 | 9,441, 196 | 9,455,012 |
| 31.3.22 | 31.3.21 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | ||||||
| FIXED ASSETS | ||||||
| Tangible assets | 14 | 1,359,279 | 1,359,279 | 1,359,860 | ||
| Heritage assets |
15 | 7,515,621 | 7,515,621 | 7,576,479 | ||
| 8,874,900 | 8,874,900 | 8,936,339 | ||||
| CURRENT ASSETS | ||||||
| Stocks | 16 | 12,647 | 12,647 | 12,718 | ||
| Debtors | 17 | 21,080 | 21,080 | 29,080 | ||
| Cash at bank and in hand | 1,030,396 | 1,030,396 | 787,673 | |||
| 1,064, 123 | 1,064, 123 | 829,471 | ||||
| CREDITORS | ||||||
| Amounts falling due within |
one year | 18 | (83,950) | (413,877) | (497,827) | (310,798) |
| NET CURRENT ASSETS | 980,173 | (413,877) | 566,296 | 518,673 | ||
| TOTAL ASSETS LESSCURRENT | ||||||
| LIABILITIES | 980,173 | 8,461,023 | 9,441,196 | 9,455,012 | ||
| NET ASSETS | 980,173 | 8,461,023 | 9,441, 196 | 9,455,012 | ||
| FUNDS | 19 | |||||
| Unrestricted funds |
980,173 | 764,116 | ||||
| Restricted funds | 8,461,023 | 8,690,896 | ||||
| TOTAL FUNDS | 9,441, 196 | 9,455,012 |
| 31.3.22 | 31.3.21 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | |||||
| FIXEDASSETS | |||||
| Tangible assets Heritage assets |
14 15 |
1,359,279 7,515,621 |
1,359,279 7,515,621 |
1,359,860 7,576,479 |
|
| 8,874,900 | 8,874,900 | 8,936,339 | |||
| CURRENT ASSETS | |||||
| Debtors | 17 | 364,691 | 364,691 | 347,689 | |
| Cash at bank and in hand | 496,305 | 496,305 | 430,812 | ||
| 860,996 | 860,996 | 778,501 | |||
| CREDITORS | |||||
| Amounts falling due within one year |
18 | (3,454) | (410,424) | (413,878) | (245,443) |
| NET CURRENT ASSETS | 857,542 | ~410,424) | 447, 378 | 533,058 | |
| TOTAL ASSETS LESSCURRENT | |||||
| LIABILITIES | 857,542 | 8,464,476 | 9,322,018 | 9,469,397 | |
| NET ASSETS | 857,542 | 8,464,476 | 9,322,018 | 9,469,397 | |
| FUNDS | 19 | ||||
| Unrestricted funds |
857,542 | 766,913 | |||
| Restricted funds | 8,464,476 | 8,702,484 | |||
| TOTAL FUNDS | 9322 018 | 9469397 |
| Cash Flow Statement | ||||||||
|---|---|---|---|---|---|---|---|---|
| for the | Year Ended 31 March | 2022 | ||||||
| 31.3.22 | 31.3.2 I | |||||||
| Notes | ||||||||
| Cash flows from | operating | activities | ||||||
| Cash generated from |
operations | I | 86,661 | 178,137 | ||||
| Net cash provided | by | operating activities |
86,661 | 178,137 | ||||
| Cash flows from | investing | activities | ||||||
| Purchase oftangible | tixed | assets | (39,071) | (73,718) | ||||
| Interest received | 54 | 26 | ||||||
| Net cash used in | investing | activities | ~39,017) | (73,692) | ||||
| Change in cash |
and | cash | equivalents | in | ||||
| the reporting period |
47,644 | 104,445 | ||||||
| Cash and cash equivalents | at the | |||||||
| beginning ofthe |
reporting | period | 2 | 572,328 | 467,883 | |||
| Cash and cash equivalents | at the end | of | ||||||
| the reporting period |
619,972 | 572,328 |
| OPERATING AC | TIVI | TIES | |||||
|---|---|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | ||||||
| Net (expenditure)/income | for the reporting | period (as per the | |||||
| Statement ofFinancial | Activities) | (13,816) | 44,120 | ||||
| Adjustments for: |
|||||||
| Depreciation charges |
100,510 | 97,411 | |||||
| Interest received | (54) | (26) | |||||
| Decrease in stocks | 71 | 2,270 | |||||
| Decrease in debtors | 8,000 | 13,638 | |||||
| (Decrease)/increase | in creditors | ~8,050 | 20,724 | ||||
| Net cash provided | by operations | 86,661 | 178,137 | ||||
| ANALYSIS OF CASH | AND CASH EQUIVALENTS | ||||||
| 31.3.22 | 31.3.21 | ||||||
| Cash in hand | 4,228 | 768 | |||||
| Notice deposits (less than 3 months) OverdraRs included in bank loans and overdrafts |
falling due within | one year | 1,026, 168 ~410,424) |
786,905 ~215,345) |
|||
| Total cash and cash | equivalents | 619,972 | 572,328 |
| ANALYSIS OF CHANGES IN NET FUN | DS | ||
|---|---|---|---|
| At 1.4.21 | Cash tlow | At 31.3.22 | |
| Net cash | |||
| Cash at bank and in hand | 787,673 | 242,723 | 1,030,396 |
| Bank overdraft | ~215,345 | ~195.079 | ~410,424) |
| 572,328 | 47,644 | 619,972 | |
| Total | 572,328 | 47,644 | 619,972 |
| DONATIONS AND LEGACIES |
||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| Donations | 7,551 | 4,792 |
| Cardigan Town Council |
2,000 | 2,000 |
| 9,551 | 6,792 | |
| OTHER TRADING ACTIVITIES | ||
| 31.3.22 | 31.3.21 | |
| Shop income | 22,635 | 10,097 |
| Room hire | 19,403 | 1,315 |
| Rental income | 9,000 | 9,205 |
| Events income | 32,675 | 251 |
| 1176income | 36,156 | 13,288 |
| Accommodation | 247,115 | 90,771 |
| Other sales | 11,179 | 3,873 |
| 378,163 | 128,800 | |
| INVESTMENT INCOME | ||
| 31.3.22 | 31.3.21 | |
| Bank account interest | 54 | 26 |
| 31.3.22 | 31.3.21 | ||||||
|---|---|---|---|---|---|---|---|
| Activity | |||||||
| Admissions | Castle Activities | 91,869 | 38,571 | ||||
| Educational | tours | and courses | Castle Activities | 712 | |||
| Ceredigion | County Council | Castle Activities | 4,000 | ||||
| Heritage Lottery |
Fund | Castle Activities | 133,992 | ||||
| Covid JRS | Grant | Castle Activities | 8,063 | 38,190 | |||
| Cultural Recover |
Grant | ||||||
| (WAG) | Castle Activities | 30,098 | 33,680 | ||||
| Economic | Resilience Grant | Castle Activities | 91,000 | ||||
| 134,742 | 335,433 | ||||||
| 6. | RAISING | FUNDS | |||||
| Other trading activities |
31.3.22 | 31.3.21 | |||||
| Purchases | 15,282 | 9,197 | |||||
| Staffcosts | 45,723 | 31,974 | |||||
| Accommodation | expenses | 78,691 | 31,415 | ||||
| Events expenses | 20,890 | 625 | |||||
| Licences and permits | 2,822 | 2,478 | |||||
| Marketing | and publicity | 2,370 | 5,256 | ||||
| Maintenance and |
other trading | 34,638 | 30,072 | ||||
| 200,416 | 111,017 | ||||||
| 7. | CHARITABLE | ACTIVITIES COSTS | |||||
| Support | |||||||
| Direct | costs (see | ||||||
| Costs | note 8) | Totals | |||||
| Castle Activities | 7,648 | 328,262 | 335,910 |
| Governance | |||||
|---|---|---|---|---|---|
| Management | Other | costs | Totals | ||
| Castle | Activities | 223,592 | 100,510 | 4,160 | 328,262 |
| Net income/(expenditure) | is stated alter charging/(crediting): | ||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| Auditors' remuneration |
2,450 | 2,450 | |
| Auditors' remuneration |
for non audit work | 1,710 | 2,300 |
| Depreciation - tangible |
39,652 | 36,063 | |
| Depreciation - heritage |
60,858 | 61,348 |
| 31.3.22 | 31.3.21 | ||
|---|---|---|---|
| Wages | and salaries | 196,055 | 172,045 |
| Social | security costs | 13,129 | 7,614 |
| 209,184 | 179,659 |
| Notes to the Financial Statements - continued for the Year Ended 31 March 2022 |
Notes to the Financial Statements - continued for the Year Ended 31 March 2022 |
Notes to the Financial Statements - continued for the Year Ended 31 March 2022 |
Notes to the Financial Statements - continued for the Year Ended 31 March 2022 |
|||
|---|---|---|---|---|---|---|
| 12. | COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES | |||||
| Unrestricted | Restricted | Total | ||||
| fund | fund | funds | ||||
| INCOME AND ENDOWMENTS | FROM | |||||
| Donations and legacies |
6,793 | 6,792 | ||||
| Charitable activities |
||||||
| Castle Activities | 76,761 | 258,672 | 335,433 | |||
| Other trading activities | 128,800 | 128,800 | ||||
| Investment income |
26 | 26 | ||||
| Total | 212,380 | 258,671 | 471,051 | |||
| EXPENDITURE ON | ||||||
| Raising funds | 111,017 | 111,017 | ||||
| Charitable activities |
||||||
| Castle Activities | 68,933 | 246,981 | 315,914 | |||
| Total | 179,950 | 246,981 | 426,931 | |||
| NET INCOME | 32,430 | 11,690 | 44,120 | |||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | forward | 731,686 | 8,679,206 | 9,410,892 | ||
| TOTAL FUNDS CARRIED FORWARD | 764,116 | 8,690,896 | 9,455,012 |
| A summary ofits fi |
nancial activity i |
s given below: | ||
|---|---|---|---|---|
| 31.03.22 | 31.03.21 | |||
| Turnover | 369,874 | 119,596 | ||
| Cost ofsales | 152,323 | 73,484 | ||
| Overhead | 81,092 | 66,111 | ||
| Other Income | 4,032 | 19,095 | ||
| Net surplus/(deficit) | before donation | to the Charity | 140,491 | ~904) |
| Donation to the Charity | 139,587 |
| TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|
| Fixtures | ||||
| Freehold | Plant and | and | ||
| property | machinery | fittings | Totals | |
| COST | ||||
| At I April 2021 | 1,274,956 | 64,977 | 1,117,048 | 2,456,981 |
| Additions | 1,128 | 37,943 | 39,071 | |
| At 31 March 2022 | 1,274,956 | 66,105 | 1,154,991 | 2,496,052 |
| DEPRECIATION | ||||
| At I April 2021 | 51,596 | 1,045,525 | 1,097,121 | |
| Charge for year | 3,627 | 36,025 | 39,652 | |
| At 31 March 2022 | 55,223 | 1,081,550 | 1,136,773 | |
| NET BOOK VALUE | ||||
| At 31 March 2022 | 1,274,956 | 10,882 | 73,441 | 1,359,279 |
| At 31 March 2021 | 1,274,956 | 13,381 | 71,523 | 1,359,860 |
| HERITAGE ASSETS | |
|---|---|
| Total | |
| COST | |
| At I Apri12021 | 8,009,008 |
| Restoration work done in the year |
|
| At 31 March 2022 | 8,009,008 |
| DEPRECIATION | |
| At I April 2021 | 432,529 |
| Depreciation charge for the year |
60,858 |
| At 31 March 2022 | 493,387 |
| NET BOOK VALUE | |
| At 31 March 2022 | 7,515,622 |
| At 31 March 2021 | 7,576,480 |
| STOCKS | ||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| 8 | ||
| Stocks | Group | Group |
| 12,647 | 12,718 |
| 31.3.22 | 31.3.21 | 31.3.22 | 31.3.21 | ||
|---|---|---|---|---|---|
| 8 | |||||
| Group | Group | Charity | Charity | ||
| Trade debtors | 6,061 | 3,447 | |||
| Other debtors | 12,445 | 4,205 | 12,445 | 4,205 | |
| VAT | 12,689 | 12,689 | |||
| Prepayments | 2,574 | 8,739 | 2,574 | 8,739 | |
| Cardigan | Castle Enterprises | 349,672 | 322,057 | ||
| 21,080 | 29,080 | 364,691 | 347,690 |
| 18. | CREDITORS | : AMOUNTS FA | LLING DUE WITHIN ONE | YEAR | ||||
|---|---|---|---|---|---|---|---|---|
| 31.3.22 | 31.3.21 | 31.3.22 | 31.3.21 | |||||
| Group | Group | Charity | Charity | |||||
| Other creditors | 50,303 | 38,439 | ||||||
| Accrued expenses | 34,743 | 38,504 | 3,454 | 11,588 | ||||
| VAT | 2,357 | |||||||
| Bank | 410,424 | 215,345 | 410,424 | 215,345 | ||||
| Deferred income | 18,510 | 18,510 | ||||||
| 497,827 | 310,798 | 413,878 | 245,443 | |||||
| 19. | MOVEMENT | IN FUNDS | ||||||
| Net | ||||||||
| movement | At | |||||||
| At 1.4.21 | in funds | 31.3.22 | ||||||
| Unrestricted funds |
||||||||
| General fund |
764,116 | 216,057 | 980,173 | |||||
| Restricted funds |
||||||||
| Restricted | 8,690,896 | (229,873) | 8,461,023 | |||||
| TOTAL FUNDS | 9,455,012 | ~13,816) | 9,441, 196 | |||||
| Net movement | in funds, included | in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||||
| resources | expended | in | funds | |||||
| Unrestricted | funds | |||||||
| General fund |
488,411 | (272,354) | 216,057 | |||||
| Restricted funds |
||||||||
| Restricted | 34,099 | (263,972) | (229,873) | |||||
| TOTAL FUNDS | 522,510 | (536,326) | ~13,816) |
| Comparatives for movem |
ent in funds |
|||||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At 1.4.20 | in funds | 31.3.21 | ||||
| Unrestricted funds |
||||||
| General fund |
731,686 | 32,430 | 764,116 | |||
| Restricted funds |
||||||
| Restricted | 8,679,206 | 11,690 | 8,690,896 | |||
| TOTAL FUNDS | 9,410,892 | 44,120 | 9,455,012 | |||
| Comparative net movement |
in funds, included | in the | above are | as follows: | ||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| Unrestricted funds |
||||||
| General fund |
212,380 | (179,950) | 32,430 | |||
| Restricted funds |
||||||
| Restricted | 258,671 | (246,981) | 11,690 | |||
| TOTAL FUNDS | 471,051 | (426,931) | 44,120 | |||
| A current year 12months | and prior year 12months | combined | position is as follows: | |||
| Net | ||||||
| movement | At | |||||
| At 1.4.20 | in funds | 31.3.22 | ||||
| Unrestricted funds |
||||||
| General fund |
731,686 | 248,487 | 980,173 | |||
| Restricted funds |
||||||
| Restricted | 8,679,206 | (218,183) | 8,461,023 | |||
| TOTAL FUNDS | 9,410,892 | 30,304 | 9,441,196 |
| lncont ing | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| Unrestricted | funds | |||
| General fund |
700,791 | (452,304) | 248,487 | |
| Restricted | funds | |||
| Restricted | 292,770 | (510,953) | (218,183) | |
| TOTAL FUNDS | 993,561 | (963,257) | 30,304 |
| for the Year Ended | 31 March 2022 | |
|---|---|---|
| 31.3.22 | 31.3.21 | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies |
||
| Donations | 7,551 | 4,792 |
| Cardigan Town Council |
2,000 | 2,000 |
| 9,551 | 6,792 | |
| Other trading activities | ||
| Shop income Room hire |
22,635 19,403 |
10,097 1,315 |
| Rental income | 9,000 | 9,205 |
| Events income | 32,675 | 251 |
| 1176income | 36,156 | 13,288 |
| Accommodation | 247,115 | 90,771 |
| Other sales | 11,179 | 3,873 |
| 378,163 | 128,800 | |
| Investment income |
||
| Bank account interest | 54 | 26 |
| Charitable activities |
||
| Admissions | 91,869 | 38,571 |
| Educational tours and courses |
712 | |
| Other Grants | 4,000 | |
| Heritage Lottery Fund | 133,992 | |
| Covid JRS Grant | 8,063 | 38,190 |
| Cultural Recover Grant (WAG) |
30,098 | 33,680 |
| Economic Resilience Grant | 91,000 | |
| 134,742 | 335,433 | |
| Total incoming resources |
522,510 | 471,051 |
| EXPENDITURE | ||
| Other trading activities |
||
| Purchases | 15,282 | 9,197 |
| Wages | 43,951 | 31,571 |
| Social security & Pension cost | 1,772 | 403 |
| Accommodation expenses |
78,691 | 31,415 |
| Events expenses | 20,890 | 625 |
| Licences and permits | 2,822 | 2,478 |
| Marketing and publicity |
2,370 | 5,256 |
| Maintenance and other trading |
34,638 | 30,072 |
| 200,416 | 111,017 | |
| Charitable activities |
||
| Professional fees |
2, 162 | 5,000 |
| Carried forward | 2,162 | 5,000 |
| Detailed Statement ofFinancial | Activities | ||||
|---|---|---|---|---|---|
| for the Year Ended 31 March | 2022 | ||||
| 31.3.22 | 31.3.21 | ||||
| Charitable activities |
|||||
| Brought forward Repairs and renewals Gardening expenses |
2, 162 3,668 1,818 |
5,000 1,421 6,473 |
|||
| 7,648 | 12,894 | ||||
| Support costs | |||||
| Management Wages Social Security & Pension Cost Rates and water |
152,105 11,357 4,038 |
140,475 10,015 (4,018) |
|||
| Insurance | 7,335 | 7,483 | |||
| Light and heat Oftice costs |
31,374 7,270 |
26,696 10,932 |
|||
| Sundries | 910 | ||||
| Cleaning and waste disposal Staff recruitment and training Travel and subsistence |
1,721 520 660 |
779 1,447 478 |
|||
| Bank charges Legal and professional Credit card charges |
costs | 450 1,375 5,387 |
379 1,534 3,749 |
||
| 223,592 | 200,859 | ||||
| Other | |||||
| Depreciation oftangible Depreciation ofheritage |
assets assets |
39,652 60,858 |
36,063 61,348 |
||
| 100,510 | 97,411 | ||||
| Governance costs |
|||||
| Auditors' remuneration |
2,450 | 2,450 | |||
| Auditors' remuneration |
for non | audit work | 1,710 | 2,300 | |
| 4,160 | 4,750 | ||||
| Total resources expended | 536,326 | 426,931 | |||
| Net (expenditure)/income | (13,816) | 44,120 |