2021-03-31-accounts - Promo - Cymru

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	Page
Reference and Administration Details	1
Report of the Trustees	2 to10
Statement of Trustees Responsibilities	11
Report of the Independent Auditors	12 to 14
Statement of Consolidated Financial Activities	15
Balance Sheets	16
Statement of Consolidated Cash Flows	17
Notes to the Consolidated Financial Statements	18 to 33

Charity name	Promo−Cymru Ltd
Charity registration number	1094652
Company registration number	1816889
Principal office	17 West Bute Street
	Cardiff
	CF10 5EP
Registered office	17 West Bute Street
	Cardiff
	CF10 5EP
	The charity is incorporated in England and Wales.
Trustees	M Morgan, Chair
	M Bowden
	D M Martin
	S Corria
	L Kingdon
	A Rogan
	R Crewe−Rees
	MD Williams
	AS Ozalp
Secretary	M Gil−Cervantes
Auditors	Robert Hugh Limited
	Registered Auditors and Chartered Accountants
	15 Dan y Bryn Avenue
	Radyr
	Cardiff
	CF15 8DD

	an annual review of the risks the charity mayface
	the establishment of systems and procedures to mitigate those risks identified
	in the plan
	the implementation of procedures designed to minimise any potential impact on
	the charity should those risks materialise
Trustees:	risk management statement −reviewed each year
	conflict of interest register−updated each year
	trustee welcome pack inclusive of signed statements ofability to serve as a trustee
Staff:	proof of ID required
	DBS checks (where applicable)
	references
	probation period
	regular appraisals
	comprehensive personnel files
	trained to ensure capability to undertake role
HR:	ongoing updates and training to keep up with changes in legislation
	robust policy and procedures −updates where required
	back up legal assistance in place
Health & safety:	office risk assessments
	updates and training when necessary
Information technology:	all laptops are password protected and equipped with the latest AVG antivirus
	software
	users are required to change their 0ffice365 password every 90 days for security
	purposes
	all websites are secured with SSL Certificates. Independent web security testing
	takes place annually.

1	Helpline expertise, online and office information to include the promotion of citizen voices. We have
	developed an integrated communications model to better describe our offer.
2	The development of further support to communities, families and people of all ages to support both
	physical and social developments.
3	The development of support and mentoring services to other third sector organisations such as leadership
	and management development, finance management and other corporate issues.
4	The support of organisations to better utilise Service Design Methodologies, IT and communications
	technology, such as social media practice and policy.
5	The development of our central administrative building to allow disparate areas of Promo−Cymru to be
	housed together and the wider involvement of clients and other organisations in the work of the
	organisation is working well. We will continue to review better and more efficient use of the building
	and consider renting further spaces to like minded organisations.
6	Promo−Cymru has begun the exploration of working with young people on the development of Social
	and Environmental Economy projects and organisations.

				Continuing	Discontinued
				operations	operations
		Unrestricted	Restricted	total	total		Total
	Notes	funds	funds	2021	2021		2021
		£	£	£	£		£
INCOME AND ENDOWMENTS FROM:
Activities for generating funds	3	765,365	−	765,365		−	765,365
Voluntary income	4	1000	−	1,000			1,000
Investment income	5	65,174	−	65,174		−	65,174
Charitable activities	6	34,560	350,324	384,884		−	384,884
Total income		866,099	350,324	1,216,423		−	1,216,423
EXPENDITURE ON:
Charitable activities	7	820,312	132,368	952,680		−	952,680
Total expenditure		820,312	132,368	952,680		−	952,680
NET INCOME/(EXPENDITURE)		45,787	217,956	263,743		−	263,743
Gross transfers between funds
		−	−	−		−	−
NET MOVEMENT IN FUNDS		45,787	217,956	263,743			263,743
Reconciliation of funds:
Total funds brought forward		318,936	735,428	1,054,364			1,054,364
TOTAL FUNDS CARRIED FORWARD	19	364,723	953,384	1,318,107			1,318,107
				Continuing	Discontinued
				operations	operations
		Unrestricted	Restricted	total	total		Total
	Notes	funds	funds	2020	2020		2020
		£	£	£	£		£
INCOME AND ENDOWMENTS FROM:
Activities for generating funds	3	787,677	−	787,677		−	787,677
Voluntary income	4	500	−	500		−	500
Investment Income	5	27,484	28,988	56,472		−	56,472
Charitable activities	6	8,492	140,689	149,181		−	149,181
Total income		824,153	169,677	993,830		−	993,830
EXPENDITURE ON:
Charitable activities	7	787,425	190,500	977,925		−	977,925
Total expenditure		787,425	190,500	977,925		−	977,925
NET INCOME/(EXPENDITURE)		36,728	−20,823	15,905		−	15,905
Gross transfers between funds		11,239	−11,239	−
NET MOVEMENT IN FUNDS		47,967	−32,062	15,905		−	15,905
Reconciliation of funds:
Total funds brought forward		270,969	767,490	1,038,459		−	1,038,459
TOTAL FUNDS CARRIED FORWARD	19	318,936	735,428	1,054,364		−	1,054,364

		Consolidated	Consolidated	Company,	Company,
		2021	2020	2021	'2020	,
		Total	Total	Total	Total
	Notes	funds	funds	funds	funds
		f	E	f	C
FIXED ASSETS
Tangible.assets	14	1,363,734	1,141,572.	1,354,782.	1,130;582
Investments	15	−		100		100
		1,363;734	1,141,572	1,354,882	.1,130,682
,CURRENTASSETS
−Stocks		1;9−13	1,557	−−		−
Debtors	16	124;456	.81,211	102,035,		.79.283
Cash at baritc and in hand		347,04.6	164,202	:205,205		53303
		473;415	.246;972	307;240,	132,486
CREDITORS
Amounts falling due within one year	17	−317,812	z.124,313'	−193,788		−46;116
NET CURRENT ASSETS		155603	122,659	113,452		86,370
TOTALASSETS LESS CURRENT
.LIABILITIES		1;519337	1,264,231	1,468,334−	1.,217,052
CREDITORBAND PROVISIONS
Amounts:falling due.afterone year	18	−199;880	−208,267'	−199;880.	208;267
Provisions for liabilities	'18	−1;350	−1,600
		1,318;107	1;054,364	1,268,454	1,008,785
FUNDS
Unrestricted−funds	19:	364;723	318,936	315,070		273,357
Restricted: funds	19	'953;384	735,428'	953;384		735;428
−NET ASSETS		1;318;107	1;054,364	1;268,454	1,008,785

		Consolidated	Consolidated	Company
		2021	2020	2021	2020
		Total	Total	Total	Total
	Notes	funds	funds	funds	funds
		f	f	f	f
Cash flows from operating activities
Net cash income		263,743	15,905	259,669	8,495
Adjustments to cash flows from non−cash items
Depreciation		33,945	36,550	30,209	32,519
		297,688	52,455	289,878	41,014
Working capital adjustments
(Increase)/decrease In stocks		−356	1,830	−	−
(Increase)/decrease in debtors	15	−43,243	19,419	−22,752	−52,074
(Decrease)/increase in creditors	16	161,737	−38,162	129,717	733
(Decrease)/increase In deferred Income	17	28,217	7,914	14,410	6,534
(Decrease)/Increase in provisions	17	−250	100	−	−
Net cash flows from operating activities		443,793	43,556	411,253	−3,793
Cash flows from investing activities
Purchase oftangible fixed assets	14	−256,107	−5,981	−254,409	−1,800
Net cash flows from Investing activities		−256,107	−5,981	−254,409	−1,800
Cash flows from financing activities
Repayments of loans and borrowings		−4,842	−17,932	−4,842	−17,932
Net cash flows from financing activities		−4,842	−17,932	−4,842	−17,932
Net (decrease)/Increase in cash and cash
equivalents		182,844	19,643	152,002	−23,525
Cash and cash equivalents at 1 April		164,202	144,559	53,203	76,728
Cash and cash equivalents at 31 March		347,046	164,202	205,205	53,203


ACTIVITIES FOR GENERATING FUNDS	Consolidated
	2021	2020
Projects, consultancy, workshops, events and helpline fees	765,365	787,677
VOLUNTARY INCOME	Consolidated
	2021	2020
Donations	1,000	500
INVESTMENT INCOME
	Consolidated
	2021	2020
Rents received	65,154	56,472
Interest received	20
	65,174	56,472

	Unrestricted
	funds	Restricted	Consolidated
	General	funds	2021	2020
	f	f	f	f
Money and Pensions Services grant	−	30,000	30,000	70,000
Paul Hamlyn grant	−	30,000	30,000	30,000
Youth Access grant	−	14,682	14,682	−
EVI CFAP grant	−	249,867	249,867
EYST grant	−	15,375	15,375
Welsh Government Landfill Disposal
Scheme grant	−	−	−	10,027
Social Business Growth Fund	−	−	−	12,527
Other project grants	−	10,400	10,400	18,135
Covid grant	25,000	−	25,000
Fees and rental income	9,560	−	9,560	8,492
	34,560	350,324	384,884	149,181

	Unrestricted	Restricted	Consolidated	Consolidated
	funds	funds	2021	2020
	£	£	£	£
Subsidiary company	734,075	−	734,075	686,314
Core support	77,852	−	77,852	93,526
Heads of the Valleys Programme	−	4,254	4,254	4,361
Big Lottery Community Asset Transfer	−	9,891	9,891	10,685
Money and Pensions Services grant	−	30,000	30,000	70,000
EVI CFAP	−	12,200	12,200	−
EYST	−	15,375	15,375	−
NESTA	−	−	−	7,500
Social Business Growth Fund	−			12,344
Paul Hamlyn Trust	−	30,000	30,000	30,000
Blaenau Gwent EVI	−		−	28,987
Other projects	−	30,648	30,648	26,623
	811,927	132,368	944,295	970,340

	Activity	Activity
	undertaken	support	Consolidated
	directly	costs	2021	2020
	£	£	£	£
Subsidiary company	734,075	−	734,075	686,314
Staff costs	14,932	50	14,982	15,249
Exchange workers	−	−	−	2,920
Project costs	113,808	700	114,508	170,669
Freelance consultants	−	−	−	2,345
Office costs	−	5,779	5,779	6,446
Advertising and marketing	−	−	−	1,074
Repairs and renewals	15,222	−	15,222	18,921
Insurance	−	12,318	12,318	12,260
Premises costs	−	5,282	5,282	6,458
Loan interest	−	11,920	11,920	15,165
Depreciation	30,209	−	30,209	32,519
	908,246	36,049	944,295	970,340

							Totals	Totals
Governance	Finance	Staff		Admin	Premises	Other	2021	2020
£	£	£		£	£	£	£	£
4,175	11,920		50	5,779	5,282	13,018	40,224	44,541

12	TAXATION
	No taxation is payable by the charity for the year as it is able to make use of the tax exemptions on income and
	capital gains available to charities.
	The taxable profit in the subsidiary was £6,906 (2020: £nil).
13	STAFF COSTS
		2021	2020
	Wages, salaries and pensions	641,567	627,183,

TANGIBLE FIXED ASSETS		Freehold	Furn. &
a) Consolidated fixed assets		property	equip.	Totals
		£	£	£
COST
At 1 April 2020		1,281,058	444,552	1,725,610
Additions		228,787	27,320	256,107
Disposals		−	−	−
At 31 March 2021		1,509,845	471,872	1,981,717
DEPRECIATION
At 1 April 2020		164,237	419,801	584,038
Charge for year		25,622	8,323	33,945
Eliminated on disposals		−	−	−
At 31 March 2021		189,859	428,124	617,983
NET BOOK VALUE
At 31 March 2021		1,319,986	43,748	1,363,734
At 1 April 2020		1,116,821	24,751	1,141,572
	,

b) Company fixed assets	Freehold	Fixtures,
	land and	fittings &
	buildings	equip.	Total
COST
At 1 April 2020	1,281,058	354,522	1,635,580
Additions	228,787	25,622	254,409
Disposals	−	−	−
At 31 March 2021	1,509,845	380,144	1,889,989
DEPRECIATION
At 1 April 2020	164,237	340,761	504,998
Charge for year	25,622	4,587	30,209
Elimination on disposal	−	−	−
At 31 March 2021	189,859	345,348	535,207
NET BOOK VALUE
At 31 March 2021	1,319,986	34,796	1,354,782
At 1 April 2020	1,116,821	13,761	1,130,582

FIXED ASSET INVESTMENTS
	Shares in
	group
	company
NET BOOK VALUE
At 31 March 2021		100
At 31 March 2020		100

Class of share:	holding
E1 ordinary	100%
		2021	2020
Aggregate reserves		49,653		45,579
ProfitMoss) for the year		4,074		7,410

	2021	2020
Turnover	915,996	928,855
Direct costs	−749,907	−720,346
Gross profit	166,089	208,509
Other income	14,932	15,209
	181,021	223,718
Other costs	−176,947	−216,308
Profiti(loss) for the year	4,074	7,410


16	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	Consolidated
		2021	2020
	Trade debtors	79,608	53,353
	Prepayments and accrued income	9,328	24,678
	VAT recoverable	26,849
	Other debtors	8,671	3,182
		124,456	81,213
		Company
		2021	2020
		E	E
	Trade debtors	5,360	2,757
	Amounts owed by group undertakings	64,299	54,504
	Prepayments and accrued income	5,527	22,022
	VAT recoverable
		−	−
	Other debtors	26,849
		102,035	79,283
17	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	Consolidated
		2021	2020
	Trade creditors	160,184	6,583
	Other loans	7,634	4,089
	Taxation and social security	59,548	55,572
	Accruals and deferred income	85,091	52,477
	Other creditors	5,355	5,592
		317,812	124,313
		Company
		2021	2020
			E
	Trade creditors	147,629	2,130
	Amounts owed to group undertakings
	Loans	7,634	4,089
	Taxation and social security		4,406
	Accruals and deferred income	36,526	33,490
	Other creditors	1,999	2,001
		193,788	46,116,
	Creditors due within one year includes the following liabilities, on which security has been given by the charity:
		2021	2020
	Wales Council for Voluntary Action	7,634	4,089
	Secured on freehold property at 17 West Bute Street, Cardiff CF10 5EP.

	Consolidated
	2021 2020
	£
At 31 March 2020	29,470	21,556
Amount released to incoming resources	−19,470	−21,556
Amount deferred in the year	47,687	29,470
At 31 March 2021	57,687	29,470

YEAR/PROVISIONS FOR LIABILITIES
	Consolidated
	2021	2020
Loans	199,880	208,267
Deferred tax	1,350	1,600

	2021	2020
Loan from Wales Council for Voluntary Action	199,880	208,267
Included in the creditors are the following amounts due after more than five years:
	2021	2020
After more than five years by instalments	163,413	175,736

MOVEMENT IN FUNDS		incoming	Resources
	At 1.4.20	resources	expended	Transfers		At 31.3.21
	£	f	£	£		£
Unrestricted funds
General fund	318,936	866,099	−820,312			364,723
	318,936	866,099	−820,312			364,723
Restricted funds
Cardiff Web Project	138	−	−		−	138
Heads of the Valleys Programme	158,817	−	−4,254		−	154,563
Blaenau Gwent Youth Service
Capital and Revenue grant	20,849	−	−507		−	20,342
Big Lottery Community Asset
Transfer	363,564	−	−9,891		−	353,673
Blaenau Gwent Community
Economic Development grant	15,735	−	−612		−	15,123
Blaenau Gwent Community Asset
Transfer	147,875	−	−3,500		−	144,375
Arts for All grant	4,603	−	−99		−	4,504
Tai CaIon grant	326	−	−109		−	217
Valleys Environment grant	4,650	−	−100		−	4,550
Police and Crime
Commissioners Partnership	369	−	−123		−	246
Gavo Cash4u grant	258	−	−86		−	172
Social Business Growth Fund	183	−	−61		−	122
Paul Hamlyn Trust	−	30,000	−30,000		−	−
WAG Landfill Disposal Scheme	18,061	−	−369		−	17,692
Money and Pensions
Service grant	−	30,000	−30,000			−
Youth Access grant	−	14,682	−14,682		−	−
Cast grant	−	3,400	−3,400		−	−
EVI CFAP grant	−	249,867	−12,200		−	237,667
Youth Work Support grant	−	7,000	−7,000		−	−
EYST grant	−	15,375	−15,375		−	−
	735,428	350,324	−132,368			953,384
TOTAL FUNDS	1,054,364	1,216,423	−952,680			1,318,107

MOVEMENT IN FUNDS		Incoming	Resources
	At 1.4.19	resources	expended	Transfers	At 31.3.20
Unrestricted funds
General fund	270,969	824,153	−787,425	11,239	318,936
	270,969	824,153	−787,425	11,239	318,936
Restricted funds
Cardiff Web Project	138	−	−	−	138
Youth Service capital grant	98	−	−71	−27
Heads of the Valleys Programme	165,010	−	−4,360	−1833	158,817
Blaenau Gwent Youth Service
Capital and Revenue grant	21,453	−	−604	−	20,849
Big Lottery Community Asset
Transfer	383,216	−	−10,685	−8967	363,564
Blaenau Gwent Community
Economic Development grant	16,477		−742	−	15,735
Blaenau Gwent Community Asset
Transfer	151,376	−	−3,500	−1	147,875
Arts for All grant	4,702	−	−99	−	4,603
Tai CaIon grant	736	−	−163	−247	326
Valleys Environment grant	4,750	−	−100	−	4,650
Police and Crime
Commissioners Partnership	552	−	−184	1	369
Gavo Cash4u grant	552	−	−129	−165	258
NESTA	−	7,500	−7,500	−
Social Business Growth Fund	−	12,527	−12,344	−	183
Paul Hamlyn Trust	−	30,000	−30,000	−	−
Blaenau Gwent CBC Legacy
Fund	−	2,659	−2,659
WAG Landfill Disposal Scheme	18,430	10,027	−10,396	−	18,061
Blaenau Gwent CBC EVI	−	28,988	−28,988	−	−
Money and Pensions
Service grant Youth Access grant	− −	70,000 7,382	_ −70,000 −7,382
Cast grant	−	594	−594	−	−
	767,490	169,677	−190,500	−11,239	735,428
TOTAL FUNDS	1,038,459	993,830	−977,925		1,054,364

	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated
	Unrestricted	Restricted	total	funds
	funds	funds	2021		2020
	£	£	£		f
Tangible fixed assets	410,488	953,246	1,363,734			1,141,572
Current assets	305,703	167,712	473,415			246,972
Current liabilities	−150,238	−167,574	−317,812			−124,313
Deferred liabilities	−201,230	−	−201,230			−209,867
TOTAL FUNDS	364,723	953,384	1,318,107			1,054,364
	Company		Company
	Unrestricted	Restricted	total	funds
	funds	funds	2021		2020
	£	£	£		f
Tangible fixed assets	401,536	953,246	1,354,782			1,130,582
Fixed asset investments	100	−	100			100
Current assets	139,528	167,712	307,240			132,486
Current liabilities	−26,214	−167,574	−193,788			−46,116
Deferred liabilities	−199,880	−	−199,880			−208,267
TOTAL FUNDS	315,070	953,384	1,268,454			1,008,785
ANALYSIS OF NET FUNDS
		At 1 April		At 31		March
		2020	Cashflow		2021
Cash at bank and in hand		164,202	182,844			347,046
Debt due within one year		−4,089	−3,545			−7,634
Debt due after more than one year		−208,267	8,387			−199,880
Net debt		−48,154	187,686			139,532
		At 1 April		At	31	March
		2019	Cashflow		2020
Cash at bank and in hand		144,559	19,643			164,202
Debt due within one year		−9,031	4,942			−4,089
Debt due after more than one year		−221,257	12,990			−208,267
Net debt		−85,729	37,575			−48,154