## ## ## ||||||||Pages| |---|---|---|---|---|---|---|---| |Trustees'
annual
report (incorporating|||the|director's|report)||1to5| |Independent|examiner's
report|to the|trustees||||| |Statement
of|financial
activities|(including||income and expenditure|||| |account)|||||||| |Statement
of|financial
position||||||| |Statement
of|cash flows||||||| |Notes to the financial statements|||||||10to 22| |The following|pages do not form part ofthe financial|||||statements|| |Detailed statement
of financial||activities|||||24| ## ## |Registered||charity|name|name|Pembrokeshire|Frame Limited|Frame Limited|||| |---|---|---|---|---|---|---|---|---|---|---| |Charity registration|||number||1090949|||||| |Company|registration|||number|4037005|||||| |Principal office and|||registered||Old Press Buildings|||||| |office|||||Old Hakin Road|||||| ||||||Merlins Bridge|||||| ||||||Haverfordwest|||||| ||||||Pembrokeshire|||||| ||||||SA61 IXF|||||| |The trustees||||||||||| ||||||Mr AS Harries|||(Appointed|29June 2021)|| ||||||Mrs J A Sims|||(Resigned|18November|2021)| ||||||Mr P G Smith|||||| |||||||||(Served from 24 May 2021 to 20||| ||||||Mr D W Underhill|||November|2021)|| ||||||Ms DJ Brown|||||| |Company|secretary||||Mr P K Bowman|(resigned|1 December 2021)|||| |Independent||examiner|||Bruce Evens (Senior Independent|||Examiner)||| ||||||Hamilton
House|||||| ||||||Hamilton
Terrace|||||| ||||||Milford Haven|||||| ||||||Pembrokeshire|||||| ||||||SA73 3JP|||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Year end|ed 31 March 2|022||| |---|---|---|---|---|---|---|---| ||||||2022||2021| |||||Unrestricted|Restricted||| |||||funds|funds|Total funds|Total funds| ||||Note||2|2|| |Income and endowments|||||||| |Donations
and legacies|||5|5,129||5,129|817| |Charitable
activities|||6|681,811|161,811|843,622|769,690| |Investment
income|||7|6||6|10| |Other income|||8|22,587||22,587|15,325| |Total income||||709,533|161,811|871,344|785,842| |Expenditure|||||||| |Expenditure
on charitable||activities|9,10|(756,358)|(70,924)|(827,282)|(810,839)| |Total expenditure||||(756,358)|(70,924)|(827,282)|(810,839)| |Net income/(expenditure)||||(46,825)|90,887|44,062|(24,997)| |Transfers between|funds|||337,111|(337,111)||| |Net movement
in|funds|||290,286|(246,224)|44,062|(24,997)| |Reconciliation
of|funds||||||| |Total funds
brought|forward|||75,350|1,578,046|1,653,396|1,678,393| |Total funds carried forward||||365,636|1,331,822|1,697,458|1,653,396| ## ## ## ## |||31 March|2022|||| |---|---|---|---|---|---|---| |||||2022||2021| ||||Note|2||| |Fixed assets||||||| |Tangible fixed assets|||17||1,385,277|1,409,809| |Current assets||||||| |Stock|||18|10,993||7,476| |Debtors|||19|14,500||17,026| |Cash at bank and in|hand|||675,625||606,223| |||||701,118||630,725| |Creditors: amounts|falling|due within one year|20|(76,247)||(63,170)| |Net current assets|||||624,871|567,555| |Total assets less current||liabilities|||2,010,148|1,977,364| |Creditors: amounts|falling|due after more than one year|21||(312,690)|(323,968)| |Net assets|||||1,697,458|1,653,396| |Funds ofthe charity||||||| |Restricted funds|||||1,331,822|1,578,046| |Unrestricted
funds|||||365,636|75,350| |Total charity funds|||22||1,697,458|1,653,396| ## ## ## ## ||Y|ear ended 31 March 2|022|| |---|---|---|---|---| ||||2022|2021| |Cash flows from operating|activities|||| |Net income/(expenditure)|||44,062|(24,997)| |Adjusimenrs
for:||||| |Depreciation
of tangible
fixed assets|||43,716|41,861| |Other interest receivable
and|similar income||(6)|(10)| |Interest payable
and similar charges|||15,502|14,204| |Changes
in:||||| |Stock|||(3,517)|1,605| |Trade and other debtors|||2,526|(4,609)| |Trade and other creditors|||5,851|10,407| |Cash generated
from operations|||108,134|38,461| |Interest
paid|||(15,502)|(14,204)| |Interest received|||6|10| |Nst cash from operating
activities|||92,638|24,267| |Cash flows from investing|activities|||| |Purchase of tangible assets|||(24,500)|| |Proceeds from sale of tangible assets|||5,316|| |Net cash used
in investing
activities|||(19,184)|| |Cash flows from financing|activities|||| |Proceeds from borrowings|||(15,373)|(14,891)| |Proceeds from hire purchase|agreements||11,321|(7,884)| |Net cash used
in financing
activities|||(4,052)|(22,775)| |Net increase
in cash and cash equivalents|||69,402|1,492| |Cash and cash equivalents|at beginning|of year|606,223|604,731| |Cash and cash equivalents|at end of year||675,625|606,223| # ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Year e|nded 31 March|2022|||| |---|---|---|---|---|---|---|---|---| |5.|Donations||and legacies|||||| |||||Unrestricted|Total|Funds|Unrestricted|Total Funds| |||||Funds||2022|Funds|2021| |||||||f||| ||Donations|||||||| ||Donations|||5,129||5,129|817|817| |6.|Charitable||activities|||||| ||||||Unrestricted||Restncted|Total Funds| |||||||Funds|Funds|2022| |||||||f|f|f| ||Shop income||||386,889|||386,889| ||Training|income||||||| ||Grants|||||33,458|161,811|195,269| ||Contracts||and service level agreements||261,464|||261,464| ||||||681,811||161,811|843,622| ||||||Unrestricted||Restricted|Total Funds| |||||||Funds|Funds|2021| ||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| |7.|Investment||income|||||| |||||Unrestricted|Total|Funds|Unrestricted|Total Funds| |||||Funds||2022|Funds|2021| ||||||||f|| ||Deposit account interest|||6||6|10|10| |8.|Other income|||||||| |||||Unrestricted|Total|Funds|Unrestricted|Total Funds| |||||Funds||2022|Funds|2021| |||||f||f||| ||Rental income|||22,587||22,587|15,325|15,325| ## ## ## ## ## |Expenditure
on charitable
activities
by fund typ|e||| |---|---|---|---| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2022| |||2|2| |Charity shop, service level & training|116,162|39,279|155,441| |Core activities|140,994|31,645|172,639| |Second stage processing|40,833||40,833| |Bulky household|72,689||72,689| |Support costs|385,680||385,680| ||756,358|70,924|827,282| ||Unrestricted|Restricted|Total Funds| ||Funds|Funds|2021| |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| |Support costs|353,547||353,547| ||647,154|163,685|810,839| ## |Expenditure|on charitable
activities
by|activity type|||| |---|---|---|---|---|---| |||Activities|||| |||undertaken||Total funds|| |||directly|Support costs|2022 Total fund 2021|| |||2|p|2|| |Charity shop,|service level & training|155,441|189,957|345,398|292,253| |Core activities||172,639|138,478|311,117|357,889| |Second stage processing||40,833|18,781|59,614|57,039| |Bulky household||72,689|31,616|104,305|97,010| |Governance|costs||6,848|6,848|6,648| |||441,602|385,680|827,282|810,839| ## |Analysis of support costs|||| |---|---|---|---| ||Analysis
of||| ||sUpport costs|Total 2022|Total 2021| ||2|2|| |Staff costs|279,654|279,654|236,351| |Premises|79,553|79,553|83,588| |General office|3,191|3,191|4,882| |Finance costs|16,434|16,434|22,078| |Governance costs|6,848|6,848|6,648| ||385,680|385,680|353,547| ## ## ## ## |12.|Net income/(expenditure)|Net income/(expenditure)|| |---|---|---|---| ||Net income/(expenditure)||is stated after charging/(crediting):| ||Depreciation|of tangible|fixed assets| |13.|Independent|examiners|fees| ||Fees payable|to the independent
examiner
for:|| ||Independent|examination|of the financial statements| |2022|2021| |---|---| |43,716|41,86'I| |2022|2021| |8|| |6,848|6,648| ## |equivalen|t|employees
during the year is analysed
as f|
ollows:|| |---|---|---|---|---| ||||2022|2021| ||||No.|No.| |Number|of|employees|32|30| |Number|of|directors|1|| ||||33|31| ## ## ## ## ## |17.|Tangible fixed|assets|||||||| |---|---|---|---|---|---|---|---|---|---| |||||||Land and|Other plant and||| |||||||buildings
f|machinery
etc||Total| ||Cost||||||||| ||At I April 2021|||||1,533,912|238,704||1,772,616| ||Additions|||||||24,500|24,500| ||Disposals|||||||(26,900)|(26„900)| ||At 31 March 2022|||||'I,533,912|236,304||1,770,216| ||Depreciation||||||||| ||At
1 April 2021|||||179,489||183,318|362,807| ||Charge for the year|||||28,019||15,697|43,716| ||Oisposals|||||||(21,584)|(21,584)| ||At 31 March 2022|||||207,508||177,431|384,939| ||Carrying
amount||||||||| ||At 31 March 2022|||||1,326,404||58,873|1,385,277| ||At 31 March 2021|||||1,354,423||55,386|1,409,809| ||Finance leases and hire purchase|||contracts|||||| ||Included
within|the carrying|value|of tangible|fixed assets|are the following|amounts|relating|to assets
held| ||under finance leases or hire||purchase
agreements:||||||| |||||||||Motor vehicles|| ||At 31 March 2022||||||||31,554| ||At 31 March 2021||||||||17,573| |18.|Stocks||||||||| |||||||||2022|2021| ||Stock|||||||10,993|7,476| |19.|Debtors||||||||| |||||||||2022|2021| ||Trade debtors|||||||11,904|952| ||Other debtors|||||||2,596|16,074| |||||||||14,500|17,026| ## ## ## |Creditors: am|ounts|falli|ng due within one year||| |---|---|---|---|---|---| |||||2022|2021| |Loans and overdrafts||(secured)||15,779|15,311| |Trade creditors||||22,481|15,900| |Hire purchase|agreements||(secured)|15,480|8,722| |Social security|and other||taxes|14,548|14,064| |Other creditors||||7,959|9,173| |||||76,247|63,170| ## |||||2022|2021| |---|---|---|---|---|---| |Loans and overdrafts||(secured)||295,306|311,147| |Hire purchase|agreements||(secured)|17,384|12,821| |||||312,690|323,968| ## ||||||||||At| |---|---|---|---|---|---|---|---|---|---| |||At|1|April 2021|Income|Expenditure|Transfers|31|March 2022| ||||||2||2||| |General|funds|||75,350|709,533|(756,358)|337,111||365,636| ||||||||||At| |||At|1|April 2020|Income|Expenditure|Transfers|31|March 2021| |General|funds|||137,800|584,704|(647,154)|||75,350| ## ## ## ## |Restricted funds||||||| |---|---|---|---|---|---|---| |||||||At| |||At 1 April 2021|Income|Expenditure|Transfers|31 March 2022| |||2||2||2| |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| |Community
fridge grant||||||| |(WCVA)||26,671||||26,671| |Zero waste schools||462,000||||462,000| |Milford Haven Port Authority||300||||300| |Bags of Care||356||||356| |WCVA- Penny the Polar||||||| |Bear||1,494||||1,494| |WCVA- Green Shed|Re-|||||| |Use Project||15,958|9,998|(25,863)||93| |P. Dock Community|Fridge|2,500||||2,500| |Bags of Care Plus- Green||||||| |Shed||1,474||(1,474)||| |WCVA- Bags of Care Plus||6,551||(6,551)||| |Neighbourly
(Aldi)||400||(83)||317| |WCVA - VWG Small|Grant||18,000|(19,893)||(1,893)| |Kick-Start Grant|||7,182|(6,156)||1,026| |PAVS- Main Scaf|||3,000|(2,991)||9| |Postcode Community|||20,000|||20,000| ## ## |||Company
Limited by Guarante|Company
Limited by Guarante|Company
Limited by Guarante|Company
Limited by Guarante|Company
Limited by Guarante|e||| |---|---|---|---|---|---|---|---|---|---| |||Notes to the Financial Statements|||||(continued)||| |||||Year ended|31 March|2022|||| |22.|Analysis
ofcharitable funds||(corrrinoed)||||||| ||National
Lottery||||10,000||||10,000| ||Bluestone Resorts Ltd||||900||||900| ||Persimmon
Homes||||1,000||||1,000| ||Pembrokeshire|Coast|||||||| ||National
Park||||25,000||(41)||24,959| ||Moondance
Foundation||||39,236||||39,236| ||MHPA- Defibrillator Case||||495||(495)||| ||PCC- Homeless|Support|||||||| ||Grant||||2,000||||2,000| ||Lloyds Bank Foundation||||25,000||(7,377)||17,623| |||||1,578,046|161,811||(70,924)|(337111)|1 331822| ||||||||||At| ||||At|1 April 2020|Income|Expenditure||Transfers|31 March 2021| ||||||2||2|2|2| ||CFAP - Merlins|Bridge|||||||| ||Building|||155,427|||||155,427| ||WG - 'Connect|North'|||||||| ||Programme|||118,248|||||118,248| ||Pride|||33,205|||||33,205| ||Collaborative
—|Me rlins|||||||| ||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| ||Community
fridge grant||||||||| ||(WCVA)|||17,951|8,720||||26,671| ||Zero waste schools|||462,000|||||462,000| ||Milford Haven
Port Authority|||300|||||300| ||Bags of Care||||81,932||(81,576)||356| ## ## ## ||||Year ended|31 March 2|022|| |---|---|---|---|---|---|---| |22.|Analysis ot charitable|funds|(cont(nues)|||| ||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 of Care Plus- Green|||||| ||Shed|||52,065|(50,591)|1,474| ||WCVA- Bags ol Care Plus|||14,035|(7,484)|6,551| ||Neighbourly
(Aldi)|||400||400| ||WCVA - VWG Small Grant|||||| ||Kick-Start Grant|||||| ||PAVS- Main Scaf|||||| ||Postcode Community|||||| ||National
Lottery|||||| ||Bluestone Resorts
Ltd|||||| ||Persimmon
Homes|||||| ||Pembrokeshire
Coast|||||| ||National
Park|||||| ||Moondance
Foundation|||||| ||MHPA- Defibrillator Case|||||| ||PCC- Homeless
Support|||||| ||Grant|||||| ||Lloyds Bank Foundation|||||| ||||1,540,593|201,138|(163,685)|1,578,046| ||Pembrokeshire
Frame Limited|Pembrokeshire
Frame Limited|||||||| |---|---|---|---|---|---|---|---|---|---| ||Company
Limited by Guarantee||||||||| ||Notes to the Financial Statements
fcddiinded)||||||||| ||Year ended 31 March 2022||||||||| |22.|Analysis
of charitable
funds
(continued)||||||||| ||CFAP - grant received to fund the purchase
of Merlins Bridge property.||||||||| ||WG —grant received to fund the purchase
of Goodwick property.||||||||| ||Pride
—grant received to fund the purchase
of Goodwick property.||||||||| ||Collaborative
-grant received to fund the purchase
of Marlins
Bridge property.||||||||| ||Hywel
Davies - grant received to fund the purchase
of mobility scooters.||||||||| ||PCC grant new building
- grant received to fund new Merlins
Bridge property.||||||||| ||PCC grant refurbish
existing
building
—grant received to refurbish
existing|Merlins|||Bridge||property.||| ||Community
Fridge Grant (WCVA) - grant received to set up community
fridge||project.||||||| ||Zero Waste Schools
—grant received to run pilot project to increase recycling||in|schools.|||||| ||Milford Haven
Port Authority
- grant received for signage
on Charity van.||||||||| ||Bags of Care - grant received to fund tesco bags of care||||||||| ||WCVA - Penny the Polar Bear - grant to set up new mascot and campaign||||||||| ||WCVA - Green Shed Re-Use Project - grant to aid re-use projects||||||||| ||P. Dock Comm Fridge - grant received to set up community
fridge project||||||||| ||Bags of Care Plus - grant received to fund tesco bags of care||||||||| ||WCVA - Bags of Care Plus - grant received to fund WCVA bags of care||||||||| ||Neighbourly
(Aldi) - grant to help with ongoing
community
fridge projects||||||||| ||WCVA
—VWG small grant
- grant received for upholstery
project||||||||| ||Kick-start Grant - grant received for upholstery
training
and painting
workshop||training||||||| ||PAVS - Main Scaf - grant received to hold a series of upholstery
and painting||workshops||||free to||the public| ||Postcode Lottery - grant received for core funding||||||||| ||National
Lottery - grant received for co-ordinator costs for zero waste shop|in|Pembroke||||Dock||| ||Bluestone Resorts Ltd - grant received to purchase a fridge for Pembroke|Dock||community||||fridge|| ||Persimmon
Homes
- grant received for equipment
for re-upholstery||||||||| ||Pembrokeshire
Coast National
Park - grant received to set up zero waste|shop||in Pembroke||||Dock|| ||Moondance
Foundation
- grant received for wages and training
for re-upholstery||||support||worker||| ||MHPA
- Defibrillator case - grant received for a heated case for the defibrillator|||case outside||||Green Shed|| ||PCC
—Homeless
Support Grant - grant received to provide
furniture
when|re-homing||||homeless|||citizens| ## ## ## ## ## |23.|Analysis|of net asset|s between funds||||| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Total Funds|| |||||Funds|Funds||2022| ||||||||9| ||Tangible|fixed assets||515,435|869,842||1,385,277| ||Current assets|||162,891|461,980||624,871| ||Creditors|greater than|1 year|(312,690)|||(312,690)| ||Net assets|||365,636|1,331,822||1,697,458| |||||Unrestricted|Restricted|Total Funds|| |||||Funds|Funds||2021| |||||2|||| ||Tangible|fixed assets||293,763|1,116,046||1,409,809| ||Current assets|||105,555|462,000||567,555| ||Creditors|greater than|1 year|(323,968)|||(323,968)| ||Net assets|||75,350|1,578,046||1,653,396| |24.|Analysis|ofchanges|in net debt||||| |||||At 1 Apr 2021|Cash flows|At 31|Mar 2022| ||||||||2| ||Cash at bank and
in hand|||606,223|69,402||675,625| ||Debt due|within one year||(24,033)|(7,226)||(31,259)| ||Debt due|after one year||(323,968)|11,278||(312,690)| |||||258,222|73,454||331,676| ## ## |||||2022|2021| |---|---|---|---|---|---| |||||2|| |Income and endowments|||||| |Donations
and legacies|||||| |Donations||||5,129|817| |Charitable
activities|||||| |Shop income||||386,889|149,221| |Training
income|||||636| |Grants||||195,269|382,935| |Contracts and service|level||agreements|261,464|236,898| |||||843,622|769,690| |Investment
income|||||| |Deposit account interest|||||10| |Other income|||||| |Rental income||||22,587|15,325| |Total income||||871,344|785,842| |Expenditure|||||| |Expenditure
on charitable|||activities||| |Purchases||||(47,824)|(89,451)| |Wages and salaries||||(551,644)|(523,556)| |Employer's
NIC||||(31,059)|(21,877)| |Repairs and maintenance||||(6,455)|(12,416)| |Other establishment||||(54,065)|(47,629)| |Motor vehicle expenses||||(31,024)|(31,377)| |Legal and professional||fees||(18,068)|(2,149)| |Telephone||||(23,109)|(27,661)| |Depreciation||||(43,716)|(41,861)| |Interest
on bank loans|and overdrafts|||(5,918)|(4,201)| |Other interest payable|and similar charges|||(9,584)|(10,003)| |Volunteer expenses||||(5,359)|(1,998)| |Staff training||||(1,701)|400| |Capital goods scheme|& partial exemption|||2&310|2,940| |(Loss)/Profit
on disposal||of|fixed asset|(66)|| |||||(827,282)|(810,839)| |Total expenditure||||(827,282)|(810,839)| |Net income/(expenditure)||||44,062|(24,997)|