2022-03-31-accounts - Promo - Cymru

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	Page
Reference and Administration Details	1
Report of the Trustees	2 toll
Statement of Trustees Responsibilities	12
Report of the Independent Auditors	13 to 15
Statement of Consolidated Financial Activities	16
Statement of Company Financial Activities	17
Balance Sheets	18
Statement of Consolidated Cash Flows	19
Notes to the Consolidated Financial Statements	20 to 35

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
	A Rogan
	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

Partners:
	Council for Wales Voluntary Youth Service −C1NVYS
	Wales Council for Voluntary Action −WCVA
	Cwmpas
	Voluntary Councils across Wales
	European Youth Information and Counselling Agency −ERYICA
	National Museums of Wales Voluntary Councils across Wales
	Catalyst
	Ethnic Youth Support Team −EYST
	Race Alliance Wales −RAW
	National Academy for Educational Leadership Wales
	Local Authorities
Funders:
	Community Investment Fund
	Lloyds Bank Foundation
	Paul Hamlyn Foundation
	Big Lottery Foundation
Clients:
	Cardiff Third Sector Council
	Development Trust Association
	Children in Wales •
	Cyfannol Women's Aid
	Barod Gwent N−Gage

	an annual review of the risks the charity may face
	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 of ability 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
	all laptops are set for scheduled security updates and are protected by AVG antivirue
	users areforced to change their 0ff1ce365 password every 90 days for security
	purposes
	All websites are secured with SSL Certificates. They are also protected by industry
	leading security plugin Wordfence.
	Independent web security testing takes place annually
	All websites are updated monthly for relevant themes, plugins and OS

				Continuing	Continuing	Discontinued
				operations		operations
		Unrestricted	Restricted		total	total		Total
	Notes	funds	funds		2022	2022		2022
		£	£		£	£		£
INCOME AND ENDOWMENTS FROM:
Activities for generating funds	3	835,868	−	.	835,868		−	835,868
Voluntary income	4	75	−		75		−	75
Investment income	5	77,380	−		77,380		−	77,380
Charitable activities	6	8,970	321,355		330,325		−	330,325
Total income		922,293	321,355		1,243,648		−	1,243,648
EXPENDITURE ON:
Charitable activities	7	810,178	256,507		1,066,685		−	1,066,685
Total expenditure		810,178	256,507		1,066,685		−	1,066,685
NET INCOMEJ(EXPENDITURE)		112,115	64,848		176,963		−	176,963
Gross transfers between funds		−125	125		−		−	−
NET MOVEMENT IN FUNDS		111,990	64,973		176,963		−	176,963
Reconciliation of funds:
Total funds brought forward		364,723	953,384		1,318,107		−	1,318,107
TOTAL FUNDS CARRIED FORWARD	19	476,713	1,018,357		1,495,070		−	1,495,070
				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	2022	2022		2022
		£	£	£	£		£
INCOME AND ENDOWMENTS FROM:
Voluntary income		200075	−	200,075		−	200,075
Charitable activities		60,006	321,355	381,361		−	381,361
Total income		260,081	321,355	581,436		−	581,436
EXPENDITURE ON:
Charitable activities		161,322	256,507	417,829		−	417,829
Total expenditure		161,322	256,507	417,829		−	417,829
NET INCOME/(EXPENDITURE)		98,759	64,848	163,607		−	163,607
Gross transfers between funds		−125	125	−		−	−
NET MOVEMENT IN FUNDS		98,634	64,973	163,607		−	163,607
Reconciliation of funds:
Total funds brought forward		315,070	953,384	1,268,454		−	1,268,454
TOTAL FUNDS CARRIED FORWARD	20	413,704	1,018,357	1,432,061		−	1,432,061
				Continuing	Discontinued
				operations	operations
		Unrestricted	Restricted	total	total		Total
	Notes	funds	funds	2021	2021		2021
		£	£	£	£		£
INCOME AND ENDOWMENTS FROM:
Voluntary income		31000	−	31,000		−	31,000
Charitable activities		92,740	350,324	443,064		−	443,064
Total income		123,740	350,324	474,064		−	474,064
EXPENDITURE ON:
Charitable activities		82,027	132,368	214,395		−	214,395
Total expenditure		82,027	132,368	214,395		−	214,395
NET INCOME/(EXPENDITURE)		41,713	217,956	259,669		−	259,669
Gross transfers between funds
		−	−			−	−
NET MOVEMENT IN FUNDS		41,713	217,956	259,669		−	259,669
Reconciliation of funds:
Total funds brought forward		273,357	735,428	1,008,785		−	1,008,785
TOTAL FUNDS CARRIED FORWARD	20	315,070	953,384	1,268,454		−	1,268,454

		Consolidated	Consolidated	Company
		2022	2021	2022	2021
		Total	Total	Total	Total
	Notes	funds	funds	funds	funds
		E	E	E	E
FIXED ASSETS
Tangible assets	14	1,357,114	1,363,734	1,349,067	1,354,782
Investments	15			100	100
		1,357,114	1,363,734	1,349,167	1,354,882
CURRENT ASSETS
Stocks		1,830	1,913	−	−
Debtors	16	237,255	124,456	163,939	102,035
Cash at bank and in hand		284,943	347,046	168,408	205,205
		524,028	473,415	332,347	307,240
CREDITORS
Amounts falling due within one year	17	−169,073	−317,812	−33,704	−193,788
NET CURRENT ASSETS		354,955	155,603	298,643	113,452
TOTAL ASSETS LESS CURRENT
LIABILITIES		1,712,069	1,519,337	1,647,810	1,468,334
CREDITORS AND PROVISIONS
Amounts falling due after one year	18	−215,749	−199,880	−215,749	−199,880
Provisions for liabilities	18	−1,250	−1,350
		1,495,070	1,318,107	1,432,061	1,268,454
FUNDS
Unrestricted funds	19	476,713	364,723	413,704	315,070
Restricted funds	19	1,018,357	953,384	1,018,357	953,384
NET ASSETS		1,495,070	1,318,107	1,432,061	1,268,454

		Consolidated	Consolidated	Company
		2022	2021	2022	2021
		Total	Total	Total	Total
	Notes	funds	funds	funds	funds
		£	£	£	£
Cash flows from operating activities
Net cash income		176,963	263,743	163,607	259,669
Adjustments to cash flows from non−cash items
Depreciation		50,523	33,945	47,311	30,2.09
		227,486	297,688	210,918	289,878
Working capital adjustments
(Increase)/decrease in stocks		83	−356	−	−
(Increase)/decrease in debtors	15	−112,799	−43,243	−61,904	−22,752
(Decrease)/increase in creditors	16	−144,858	161,737	−140,368	129,717
(Decrease)/increase in deferred income	17	−8,232	28,217	−24,067	14,410
(Decrease)/increase in provisions	17	−100	−250	−	−
Net cash flows from operating activities		−38,420	443,793	−15,421	411,253
Cash flows from investing activities
Purchase of tangible fixed assets	14	−43,903	−256,107	−41,596	−254,409
Net cash flows from investing activities		−43,903	−256,107	−41,596	−254,409
Cash flows from financing activities
Repayments of loans and borrowings		20,220	−4,842	20,220	−4,842
Net cash flows from financing activities		20,220	−4,842	20,220	−4,842
Net (decrease)/increase in cash and cash
equivalents		−62,103	182,844	−36,797	152,002
Cash and cash equivalents at 1 April		347,046	164,202	205,205	53,203
Cash and cash equivalents at 31 March		284,943	347,046	168,408	205,205

Freehold property	2% on cost
Fixtures, fittings and equipment	10% to 25% on reducing balance
Computer equipment	33 1/3% on reducing balance

INCOME FROM CHARITABLE ACTIVITIES
	Unrestricted
	funds	Restricted	Consolidated
	General	funds	2022	2021
				£
NEWED grant	−	166,900	166,900
UKCRF funding grant	−	64,629	64,629
Emotional Health Wellbeing grant	−	13,850	13,850
C3CS grant	−	5,000	5,000	−
Money and Pensions Services grant	−	−	−	30,000
Paul Hamlyn grant		−	−	30,000
Youth Access grant	−	20,272	20,272	14,682
EVI CFAP grant	−	−	−	249,867
EYST grant	−	5,125	5,125	15,375
National Lottery Awards for All grant	−	10,000	10,000	−
National Lottery Community Fund account	−	10,000	10,000	.
Social Business Growth Fund	−	17,339	17,339	−
Other project grants	−	1,000	1,000	10,400
Covid grant	−	7,240	7,240	25,000
Fees and rental income	8,970	−	8,970	9,560
	8,970	321,355	330,325	384,884

		Unrestricted	Restricted	Consolidated	Consolidated
		funds	funds	2022	2021
		E	E	E	E
Subsidiary company		644,431	−	644,431	734,075
Staff costs		61,365	196,599	257,964	14,982
Exchange workers		−	−	−
Project costs		36,982	19,036	56,018	114,508
Freelance consultants
		−	−	−
Office costs		3,933	2,803	6,736	5,779
Advertising and marketing		−	−	−
Repairs and renewals		12,012	200	12,212	15,222
Insurance		11,238	2500	13,738	12,318
. Premises costs		3,794	1,000	4,794	5,282
Loan interest	S	14,306	−	14,306	11,920
Depreciation		12,942	34,369	47,311	30,209
		801,003	256,507	1,057,510	944,295

	Activity	Activity
	undertaken	support	Consolidated
	directly	costs	2022	2021
	E	E'
Subsidiary company	644,431	−	644,431	734,075
Staff costs	257,964	−	257,964	14,982
Exchange workers	−	−	−
Project costs	56,018	−	56,018	114,508
Freelance consultants	−	−	−	_
Office costs	−	6,736	6,736	5,779
Advertising and marketing	−	−	−	_
Repairs and renewals	. 12,212	−	12,212	15,222
Insurance	−	13,738	13,738	12,318
Premises costs	−	4,794	4,794	5,282
Loan interest	−	14,306	14,306	11,920
Depreciation	47,311	−	47,311	30,209
	1,017,936	39,574	1,057,510	944,295

Net resources are stated after charging/(crediting):
	Consolidated
	2022 2021
	E
Audit fees	9,175	8,385
Depreciation −owned assets	50,523	33,945

				2022	2021
					E
Wages,	salaries	and	pensions	785,098	671,113

TANGIBLE FIXED ASSETS	Freehold	Furn. &
a) Consolidated fixed assets	property	equip.	Totals
	£	£	£
COST
At 1 April 2021	1,509,845	471,872	1,981,717
Additions	7,100	36,803	43,903
Disposals	−	−	−
At 31 March 2022	1,516,945	508,675	2,025,620
DEPRECIATION
At 1 April 2021	189,859	428,124	617,983
Charge for year	29,963	20,560	50,523
Eliminated on disposals	−	−	−
At 31 March 2022	219,822	448,684	668,506
NET BOOK VALUE
At 31 March 2022	1,297,123	59,991	1,357,114
At 1 April 2021	1,319,986	43,748	1,363,734

b) Company fixed assets	Freehold	Fixtures,
	land and	fittings &
	buildings	equip.	Total
COST
At 1 April 2021	1,509,845	380,144	1,889,989
Additions	7,100	34,496	41,596
Disposals	−	−	−
At 31 March 2022	1,516,945	414,640	1,931,585
DEPRECIATION
At 1 April 2021	189,859	345,348	535,207
Charge for year	29,963	17,348	47,311
Elimination on disposal	−	−	−
At 31 March 2022	219,822	362,696	582,518
NET BOOK VALUE
At 31 March 2022	1,297,123	51,944	1,349,067
At 1 April 2021	1,319,986	34,796	1,354,782

FIXED ASSET INVESTMENTS
	Shares in
	group
	company
NET BOOK VALUE
At 31 March 2022		100
At 31 March 2021		100

Class of share:	holding
£1 ordinary	100%
		2022	2021
		E	E
Aggregate reserves		63,009		49,653
Profit/(loss) for the year		13,356		4,074

	2022	2021
Turnover	1,184,199	915,996
Direct costs	−814,648	−749,907
Gross profit	369,551	166,089
Other income	16,667	14,932
	386,218	181,021
Other costs	−372,862	−176,947
Profit/(loss) for the year	13,356	4,074


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	Consolidated
	2022	2021
Trade debtors	116,190	79,608
Prepayments and accrued income	121,065	17,999
VAT recoverable	− '	26,849
	237,255	124,456
	Company
	2022	2021
Trade debtors	12,083	5,360
Amounts owed by group undertakings	35,916	64,299
Prepayments and accrued income	115,940	5,527
VAT recoverable		26,849
	163,939	102,035
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	Consolidated
	2022	2021
Trade creditors	10,518	160,184
Other loans	11,985	7,634
Taxation and social security	66,884	59,548
VAT payable	4,822
Accruals and deferred income	69,846	85,091
Other creditors	5,018	5,355
	169,073	317,812
	Company
	2022	2021
Trade creditors	2,170	147,629
Loans	11,985	7,634
VAT payable	4,822
Accruals and deferred income	13,727	36,526
Other creditors	1,000	1,999
	33,704	193,788

			2022	2021
Wales	Council	for Voluntary Action	9,818		7,634

Accruals and deferred income includes deferred income relating which they relate:	to grants received in advance of the period to
	Consolidated
	2022 2021
	E E
At 31 March 2021	57,687	29,470
Amount released to incoming resources	−57,687	−19,470
Amount deferred in the year	54,694	47,687
At 31 March 2022	54,694	57,687

		Consolidated	Consolidated
		2022	2021
			E
Loans		215,749	199,880
Deferred	tax	1,250	1,350

	2022	2021
	E
Loan from Wales Council for Voluntary Action	191,909	199,880
Included in the creditors are the following amounts due after more than five years:
	2022	2021
After more than five years by instalments	154,098	163,413

MOVEMENT IN FUNDS		Incoming	Resources
	At 1.4.21	resources	expended	Transfers	At 31.3.22
	£	£	£	£	£
Unrestricted funds
General fund	364,723	922,293	−810,178	−125	476,713
	364,723	922,293	−810,178	−125	476,713
Restricted funds
Cardiff Web Project	138	−	−138	−	−
Heads of the Valleys Programme	154,563	−	−4,183	−	150,380
Blaenau Gwent Youth Service
Capital and Revenue grant	20,342	−	−507	−	19,835
Big Lottery Community Asset
Transfer	353,673	−	−9,362	−	344,311
Blaenau Gwent Community
Economic Development grant	15,123	−	−526	−	14,597
Blaenau Gwent Community Asset
Transfer	144,375	−	−3,500	−	140,875
Arts for All grant	4,504	−	−99	−	4,405
Tai CaIon grant	217	−	−72	−	145
Valleys Environment grant	4,550	−	−100	−	4,450
Police and Crime
Commissioners Partnership	246	−	−82	−	164
Gavo Cash4u grant	172	−	−57	−	115
Social Business Growth Fund	122	−	−41	−	81
WAG Landfill Disposal Scheme	17,692	−	−369	−	17,323
Youth Access grant	−	20,272	−20,272
EVI CFAP grant	237667	−	−12,328	−	225,339
EYST grant	−	5,125	−5,125	−
Covid Support grant	−	7,241	−1,207	−	6,034
Voluntary Services Recovery Fund	−	1,000	−1,000
Social Business Growth Fund 2	−	17,338	−7,660	−	9,678
C3CS grant	−	5,000	−5,125	125
NEWED grant	−	166,900	−86,275	−	80,625
UKCR Funding	−	64,629	−64,629	−	−
Emotional Health and Wellbeing	−	13,850	−13,850
Lottery Awards for All	−	10,000	−10,000
Lottery Community Fund	−	10,000	−10,000	−
	953,384	321,355	−256,507	125	1,018,357
TOTAL FUNDS	1,318,107	1,243,648	−1,066,685	−	1,495,070

MOVEMENT IN FUNDS		Incoming	Resources
	At 1.4.20	resources	expended	Transfers		At 31.3.21
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

		Consolidated	Consolidated	Consolidated		Consolidated	Consolidated	Consolidated
		Unrestricted	Restricted			total	funds
		funds	funds		2022			2021
		£		£		£			£
	Tangible fixed assets	419,382		937,732	1,357,114				1,363,734
	Current assets	322,301		201,727		524,028			473,415
	Current liabilities	−71,811		−97,262		−169,073			−317,812
	Deferred liabilities	−193,159		−23,840		−216,999			−201,230
	TOTAL FUNDS	476,713	1,018,357		1,495,070				1,318,107
		Company				Company
		Unrestricted	Restricted		.	total	funds
		funds	funds		2021			2020
		£		£		£			£
	Tangible fixed assets	411,335		937,732	1,349,067				1,354,782
	Fixed asset investments	100		−		100			100
	Current assets	230,940		201,727		432,667			307,240
	Current liabilities	−36,762		−97,262		−134,024			−193,788
	Deferred liabilities	−191,909		−23840		−215,749			−199,880
	TOTAL FUNDS	413,704	1,018,357		1,432,061				1,268,454
21	ANALYSIS OF NET FUNDS
			At	1 April			At	31	March
			2021		Cashflow			2022
	Cash at bank and in hand			347,046		−62,103			284,943
	Debt due within one year			−7,634		−2,184			−9,818
	Debt due after more than one year		−199,880			−15,869			−215,749
	Net debt			139,532		−80,156			59,376
			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