2021-03-31-accounts - Pembrokeshire Frame Limited

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						Pages
Trustees'	annual report (incorporating		the	director's	report)	1to 6
Independent examiner's report to the			trustees
Statement	offinancial activities	(including		income and expenditure
account)
Statement	offinancial position
Statement	ofcash flows					10
Notes to the financial statements						11 to 21

			Year ende	d 31 March 2	021
					2021		2020
				Unrestricted	Restricted
			Note	funds f	funds f	Totalfundsf	Total funds f
Income and endowments
Donations and legacies			5	817		817	13,582
Charitable activities			6	568,552	201,138	769,690	635,090
Investment income			7	10		10	3
Other income			8	15,325		15,325	19,888
Total income				584,704	201,138	785,842	668,563
Expenditure
Expenditure on charitable		activities	9,10	(647,154)	(163,685)	(810,839)	(780,842)
Total expenditure				(647,154)	(163,685)	(810,839)	(780,842)
Net expenditure and net		movement	in funds	(62,450)	37,453	(24,997)	(112,279)
Reconciliation offunds
Total funds brought	forward			137,800	1,540,593	1,678,393	1,790,672
Total funds carried	forward			75,350	1,578,046	1,653,396	1,678,393

		31 March	2021
				2021		2020
			Note
Fixed assets
Tangible fixed assets			17		1,409,809	1,451,670
Current assets
Stock			18	7,476		9,081
Debtors			19	17,026		12,417
Cash at bank and	in	hand		606,223		604,731
				630,725		626,229
Creditors: amounts		falling due within one year	20	(63,170)		(51,612)
Net current assets					567,555	574,617
Total assets less	current liabilities				1,977,364	2,026,287
Creditors: amounts		falling due after more than one year	21		(323,988)	(347,894)
Net assets					1,653,396	1,678,393
Funds ofthe charity
Restricted funds					1,578,046	1,540,593
Unrestricted funds					75,350	137,800
Total charity funds			22		1,653,396	1,678,393

	Ye	ar ended 31 March 202	1
			2021	2020
Cash flows from operating	activities
Net expenditure			(24,997)	(112,279)
Adjustments for:
Depreciation oftangible fixed assets			41,881	45,659
Other interest receivable and similar income			(10)	(3)
Interest payable and similar charges			14,204	14,251
Changes/n:
Stock			1,805	(1,334)
Trade and other debtors			(4,809)	6,453
Trade and other creditors			10,407	(6,926)
Cash generated from operations			38,481	(54,179)
Interest paid			(14,204)	(14,251)
Interest received			10	3
Net cash from/(used in) operating activities			24,287	(68,427)
Cash flows from investing	activities
Purchase oftangible assets				(31,240)
Proceeds from sale oftangible assets				3,746
Net cash used in investing activities				(27,494)
Cash flows from financing	activities
Proceeds from borrowings			(14,891)	62,363
Proceeds from hire purchase	agreements		(7,884)	26,614
Net cash (used in)/from financing activities			(22,778)	90,977
Net increase/(decrease) in	cash and cash	equivalents	1,492	(4,944)
Cash and cash equivalents	at beginning	ofyear	804,731	609,675
Cash and cash equivalents	at end ofyear		808,223	604,731

Donations		and legacies
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds f	2021 f.	Funds f	2020 f
Donations
Donations			817	817	13,582	13,582
Charitable		activities
				Unrestricted	Restricted	Total Funds
				Funds	Funds	2021
				F
Shop income				149,221		149,221
Training	income			636		636
Grants				181,797	201,138	382,935
Contracts		and service level agreements		236,898		236,898
				568,552	201,138	769,690
				Unrestricted	Restricted	Total Funds
				Funds f	Funds F	2020 f
Shop income				362,920		362,920
Training	income			(1,104)		(1,104)
Grants				1,972	1,600	3,572
Contracts		and service level agreements		269,702		269,702
				633,490	1,600	635,090

nvestment income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds F	2021 f	Funds F	2020 f
Deposit account interest	10	10	3	3
Other income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds f	2021 f	Funds f	2020 F
Rental income	15,325	15,325	19,888	19,888

Expenditure on charitable activities by fund typ	e
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	F	f	5
Charity shop, service level &training	149,859		149,859
Core activities	33,642	163,685	197,327
Second stage processing	39,609		39,609
Bulky household	70,497		70,497
Supportcosts	353,547		353,547
	647,154	163,685	810,839
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	5
Charity shop, service level &training	98,829		98,829
Core activities	144,066	3,875	147,941
Second stage processing	62,607		62,607
Bulky household	156,475		156,475
Zero waste schools		88,000	88,000
Support costs	226,990		226,990
	688,967	91,875	780,842

Expenditure on charitable activities by a	ctivity type
	Activities
	undertaken		Total funds
	directly 5	Support costs F	2021	Total fund 2020 f
Charity shop, service level &training	149,859	142,394	292,253	198,829
Core activities	197,327	160,562	357,889	268,111
Second stage processing	39,609	17,430	57,039	62,607
Bulky household	70,497	26,513	97,010	156,475
Zero waste schools				88,000
Governance costs		6,648	6,648	6,820
	457,292	353,547	810,839	780,842

Analysis of	support costs
		Total 2021	Total 2020
Staff costs		236,351	116,389
Premises		83,588	52,809
General office		4,882	30,529
Finance costs		22,078	20,443
Governance	costs	6,648	6,820
		353,547	226,990

12.	Net expenditure
	Net expenditure is stated	after charging/(crediting):
					2021 f	2020 f
	Depreciation oftangible	fixed assets			41,861	45,659
13.	Independent examiner	fees
					2021 f	2020 f
	Fees payable to the independent		examiner	for:
	Independent examination	ofthe financial statements			6,648	6,820
14.	Staff costs
	The total staff costs and	employee	benefits	for the reporting	period are analysed as follows:
					2021 f	2020 f
	Wages and salaries Social security costs				440,127 21,877	404,563 18,877
					462,004	423,440

Tangible fixed assets Year ended 3	1 March 2021
	Land and	Other plant and
	buildings F	machinery etc F	Total f
Cost
At 1 April 2020 and 31 March 2021	1,533,912	238,704	1,772,616
Depreciation
At 1 April 2020	151,470	169,476	320,946
Charge for the year	28,019	13,842	41,861
At 31 March 2021	179,489	183,318	362,807
Carrying amount
At 31 March 2021	1,354,423	55,386	1,409,809
At 31 March 2020	1,382,442	69,228	1,451,670

	Included within the carrying value oftangible fixed ass finance leases or hire purchase agreements:	ets are the following amounts relating toas	sets held under
			Other plant and
			machinery etc f
	At 31March 2021		17,573
	At 31 March 2020		23,430
18.	Stocks
		2021 f	2020 f
	Stock	7,476	9,081
19.	Debtors
		2021 f	2020 f
	Trade debtors	952	10,858
	Other debtors	16,074	1,559
		17,026	12,417

Creditors: am	ounts	fallin	g due within one year
				2021	2020
				6
Loans and overdrafts		(secured)		15,311	14,858
Trade creditors				15,900	10,021
Hire purchase	agreements		(secured)	8,722	8,024
Social security	and other		taxes	14,064	11,086
Other creditors				9,173	7,623
				83,170	51,612

				2021	2020
					F
Loans and overdrafts		(secured)		311,147	326,491
Hire purchase	agreements		(secured)	12,821	21,403
				323,968	347,894

							At
		At	1	April 2020	Income	Expenditure	31 March 2021
				6	F	6	8
General	funds			137,800	584,704	(647,154)	75,350
							At
		At	1	April 2019	Income f	Expenditure F	31 March 2020 6
General	funds			159,804	666,963	(688,967)	137,800

Restricted funds
						At
		At 1 April 2020	Income	Expenditure	31	March 2021
		F		F		6
CFAP - Merlins Bridge Building		155,427				155,427
WG - 'Connect North' Programme		118,248				118,248
Pride		33,205				33,205
Collaborative - Merlins Bridge Building		30,231				30,231
Hywel Davies		2,501				2,501
PCC grant new building		570,879				570,879
PCC grant refurbish existing	building	149,851				149,851
Lloyds bank foundation
Community fridge grant (WCVA)		17,951	8,720			26,671
Zero waste schools		462,000				462,000
Western Power Website Design
Milford Haven Port Authority		300				300
Bags ofCare			81,932	(81,576)		356
WCVA- Penny the Polar Bear			1,494			1,494
WCVA- Green Shed Re-Use	Project		39,992	(24,034)		15,958
P. Dock Community Fridge			2,500			2,500
Bags ofCare Plus- Green Shed			52,065	(50,591)		1,474
WCVA- Bags ofCare Plus			14,035	(7,484)		6,551
Neighbourly (Aldi)			400			400
		1,540,593	201,138	(163,685)		1,578,046
						At
		At 1 April 2019 F	Income f	Expenditure 6	31	March 2020 f
CFAP - Merlins Bridge Building		155,427				155,427
WG - 'Connect North' Programme		118,248				118,248
Pride		33,205				33,205
Collaborative - Merlins Bridge Building		30,231				30,231
Hywel Davies		2,501				2,501
PCC grant new building		570,879				570,879
PCC grant refurbish existing	building	149,851				149,851
Lloyds bank foundation		1,875		(1,875)
Community fridge grant (WCVA)		18,651		(700)		17,951
Zero waste schools		550,000		(88,000)		462,000
Western Power Website Design			1,300	(1,300)
Milford Haven Port Authority			300			300
Bags ofCare
WCVA- Penny the Polar Bear
WCVA- Green Shed Re-Use	Project
P. Dock Community Fridge
Bags ofCare Plus- Green Shed
WCVA- Bags ofCare Plus
Neighbourly (Aldi)
		1,630,868	1,600	(91,875)		1,540,593

24.	Analysis ofnet asset	s between funds
			Unrestricted	Restricted	Total Funds
			Funds F	Funds F	2021 f
	Tangible fixed assets		293,763	1,116,046	1,409,809
	Current assets		105,555	462,000	557,555
	Creditors greater than	1 year	(323,968)		(323,988)
	Net assets		75,350	1,578,046	1,853,398
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
			F	E	F
	Tangible fixed assets Current assets		373,077 112,617	1,078,593 462,000	1,451,670 574,617
	Creditors greater than	1 year	(347,894)		(347,894)
	Net assets		137,800	1,540,593	1,678,393
25.	Analysis ofchanges	in net debt
			At1 Apr 2020	Cash flows f	At 31 Mar 2021
	Cash at bank and in hand		604,731	1,492	608,223
	Debt due within one year Debt due after one year		(22,882) (347,894)	(1,151) 23,928	(24,033) (323,988)
			233,955	24,269	258,224