||||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|