| Contents | |||
|---|---|---|---|
| Trustees' Report | 1 to 9 | ||
| Independent Examiner's |
Report | 10 | |
| Statement ofFinancial | Activities | ||
| Balance Sheet | 12to 13 | ||
| Notes to the Financial | Statements | 14to 28 |
| Trustees: | John Chown | ||||||
|---|---|---|---|---|---|---|---|
| The Most Reverend | John Davies | ||||||
| Duncan Forbes | |||||||
| Lynne Hughes | |||||||
| Anthony Hunt |
|||||||
| Michael Imperato | |||||||
| Sally Power | |||||||
| Tamsin Stirling | |||||||
| Vivienne Sugar |
|||||||
| Shavanah Taj |
|||||||
| Richard Williams | |||||||
| Secretary: | Duncan Forbes | ||||||
| Senior Management | Team | Victoria Winckler | |||||
| Principal | Office: | 145aHigh Street | |||||
| Merthyr Tydfil |
|||||||
| Mid Glamorgan | |||||||
| CF47 8DP | |||||||
| Registered | Office: | 145aHigh Street | |||||
| Merthyr Tydfil | |||||||
| Mid Glamorgan | |||||||
| CF47 8DP | |||||||
| Company | Registration | Number: | 04175018 | ||||
| Charity Registration | Number: | 1104191 | |||||
| Pension Advisers: | Beaconifa Limited | ||||||
| Windwhistle | |||||||
| Bellfountain Road |
|||||||
| Crickhowell | |||||||
| Powys | |||||||
| NP8 1SN | |||||||
| Bankers: | The Cooperative | Bank | |||||
| Independent | Examiner: | Mitchell Meredith | Limited | ||||
| Chartered Accountants |
|||||||
| The Business Park | |||||||
| Triangle Business | Centre | ||||||
| Merthyr Tydfil | |||||||
| CF48 4TQ |
| Note | Unrestricted | Restricted | Total 2022 |
Total 2021 |
||
|---|---|---|---|---|---|---|
| Income and Endowments | from: | |||||
| Donations and legacies |
87,971 | 229,774 | 317,745 | 497,389 | ||
| Charitable activities |
31,047 | 1,000 | 32,047 | 26,232 | ||
| Investment income |
342 | 342 | 659 | |||
| Total Income | 119,360 | 230,774 | 350,134 | 524,280 | ||
| Expenditure on: |
||||||
| Raising funds | (53,113) | (640) | (53,753) | (35,259) | ||
| Charitable activities |
(78,002) | (213,595) | (291,597) | (392,847) | ||
| Total Expenditure | (131,115) | (214,235) | (345,350) | (428,106) | ||
| Net (expenditure)/income | (11,755) | 16,539 | 4,784 | 96,174 | ||
| Transfers between | funds | 742 | (742) | |||
| Net movement in funds |
(11,013) | 15,797 | 4,784 | 96,174 | ||
| Reconciliation offunds |
||||||
| Total funds brought | forward | 156,542 | 126,265 | 282,807 | 186,633 | |
| Total funds carried | forward | 19 | 145,529 | 142,062 | 287,591 | 282,807 |
| Balance Sheet as at | 31March 2022 | ||||
|---|---|---|---|---|---|
| Note | 2022 | 2021 | |||
| Fixed assets | |||||
| Tangible assets | 15 | 6,160 | 5,827 | ||
| Current assets |
|||||
| Debtors | 16 | 19,425 | 37,583 | ||
| Cash at bank | and in hand | 280,246 | 285,867 | ||
| 299,671 | 323,450 | ||||
| Creditors: Amounts | falling due within one year | 17 | (18,240) | (46,470) | |
| Net current | assets | 281,431 | 276,980 | ||
| Net assets | 287,591 | 282,807 | |||
| Funds ofthe | charity: | ||||
| Restricted income funds | |||||
| Restricted funds | 142,062 | 126,265 | |||
| Unrestricted | income | funds | |||
| Unrestricted | funds | 145,529 | 156,542 | ||
| Total funds | 19 | 287,591 | 282,807 |
| 3 Income from donations and |
legacies | |||
|---|---|---|---|---|
| Unrestricted funds |
Restricted | Total 2022 |
Total 2021 |
|
| Gift aid reclaimed | 4,901 | 4,901 | 4,320 | |
| Grants receivable (note 4) | 15,000 | 229,774 | 244,774 | 437,806 |
| Subscriptions and donations |
68,070 | 68,070 | 55,263 | |
| 87,971 | 229,774 | 317,745 | 497,389 |
| 4 Grants Receivable |
|||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | ||||
| Funds | Funds | 2022 | 2021 | ||||
| Joseph Rowntree Foundation |
94,719 | 94,719 | 90,950 | ||||
| Friends Provident Foundation |
2,990 | 2,990 | 33,361 | ||||
| Waterloo Foundation | 15,000 | 15,000 | 15,000 | ||||
| Welsh Government | 4,756 | 4,756 | 127,287 | ||||
| UnLtd | 4,000 | ||||||
| United Welsh | 2,500 | ||||||
| The National Lottery Community |
Fund | 9,985 | |||||
| Merthyr Tydfil County Borough Council |
26,000 | ||||||
| Paul Hamlyn Foundation |
95,000 | ||||||
| Lloyds Bank Foundation for Wales Welfare Programme |
England | and | 20,000 | 20,000 | 19,130 | ||
| Voluntary Action Merthyr |
Tydfil | 2,998 | 2,998 | 10,393 | |||
| Oxfam Cymru | 4,200 | ||||||
| WCVA | 52,825 | 52,825 | |||||
| Standard Life Foundation Financial Fairness Trust) |
(now | Abrdn | 50,000 | 50,000 | |||
| Well Being for Staff | 1,486 | 1,486 | |||||
| 15,000 | 229,774 | 244,774 | 437,806 | ||||
| 5 Income from charitable |
activities | ||||||
| Unrestricted funds |
Restricted | Total 2022 |
Total 2021 |
||||
| Research | 24,125 | 1,000 | 25,125 | 26,232 | |||
| Conferences | 6,922 | 6,922 | |||||
| 31,047 | 1,000 | 32,047 | 26,232 |
| 6 Investment in |
come | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Total | Total | ||||
| funds | 2022 | 2021 | ||||
| Interest receivable | and similar income; | |||||
| Interest receivable on bank | deposits | 342 | 342 | 659 | ||
| 7 Expenditure |
on raising funds | |||||
| Note | Unrestricted funds |
Restricted | Total 2022 |
Total 2021 |
||
| Direct costs | 8,866 | 329 | 9,195 | 4,004 | ||
| Staff Costs | 34,914 | 34,914 | 24,225 | |||
| Allocated support | costs | 9,333 | 311 | 9,644 | 7,030 | |
| 53,113 | 640 | 53,753 | 35,259 |
| 8 Expend |
it | ure on c |
haritable acti |
vities | |||
|---|---|---|---|---|---|---|---|
| Note | Unrestricted funds |
Restricted | Total 2022 |
Total 2021 |
|||
| Direct costs | 1,251 | 43,596 | 44,847 | 90,512 | |||
| Staff costs | 38,278 | 143,711 | 181,989 | 228,250 | |||
| Allocated costs |
support | 26,261 | 26,288 | 52,549 | 61,709 | ||
| Governance | costs | 12,212 | 12,212 | 12,376 | |||
| 78,002 | 213,595 | 291,597 | 392,847 |
| Governance | costs | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Total | Total | ||||
| funds | 2022 | 2021 | ||||
| Independent | examiner | fees | ||||
| Examination ofthe | financial | statements | 3,093 | 3,093 | 3,080 | |
| Staff costs | 7,773 | 7,773 | 7,814 | |||
| Allocated support costs | 1,346 | 1,346 | 1,482 | |||
| 12,212 | 12,212 | 12,376 |
| Analysis ofs | upport costs | |||||
|---|---|---|---|---|---|---|
| Donations & | Research | Governance | Total | Total | ||
| Subscriptions | Function | 2022 | 2021 | |||
| Establishment | costs | 1,652 | 8,995 | 230 | 10,877 | 10,996 |
| Office expenses | 641 | 3,489 | 89 | 4,219 | 2,889 | |
| Printing postage and stationery | 346 | 1,884 | 48 | 2,278 | 13,867 | |
| Sundry costs | 2,083 | 11,352 | 291 | 13,726 | 11,947 | |
| Travel costs | 214 | 1,179 | 31 | 1,424 | 261 | |
| Marketing | 3,232 | 17,612 | 451 | 21,295 | 26,321 | |
| Professional | fees | 1,112 | 6,056 | 155 | 7,323 | 2,198 |
| Bank charges | 52 | 284 | 344 | 437 | ||
| Depreciation | 312 | 1,698 | 43 | 2,053 | 1,305 | |
| 9,644 | 52,549 | 1,346 | 63,539 | 70,221 |
| 2022 | 2021 | ||
|---|---|---|---|
| Operating | leases - other assets | 6,808 | 6,808 |
| Depreciation offixed assets | 2,053 | 1,304 |
| 12 Staff costs The aggregate payroll costs were as follows: |
||
|---|---|---|
| 2022 | 2021 | |
| Staff costs during the year were: | ||
| Wages and salaries | 190,563 | 220,683 |
| Social security costs | 14,968 | 17,626 |
| Pension costs | 19,145 | 21,980 |
| 224,676 | 260,289 |
| 2022 | 2021 |
|---|---|
| No | No |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Examination | ofthe financial | statements | 3,093 | 3,080 |
| 14 Taxation |
| 15 Tangible fixed assets | ||||
|---|---|---|---|---|
| Furniture | and | Computer | ||
| equipment | equipment | Total | ||
| Cost | ||||
| At 1 April 2021 | 5,852 | 22,390 | 28,242 | |
| Additions | 1,424 | 963 | 2,387 | |
| At 31March 2022 | 7,276 | 23,353 | 30,629 | |
| Depreciation | ||||
| At 1 April 2021 | 5,735 | 16,680 | 22,415 | |
| Charge for the year | 385 | 1,669 | 2,054 | |
| At 31March 2022 | 6,120 | 18,349 | 24,469 | |
| Net book value | ||||
| At 31March 2022 | 1,156 | 5,004 | 6,160 | |
| At 31March 2021 | 117 | 5,710 | 5,827 |
| 16 Debtors | ||
|---|---|---|
| 2022 | 2021 | |
| Trade debtors | 18,592 | 35,893 |
| Prepayments | 833 | 1,690 |
| 19,425 | 37,583 |
| 17 Creditors: amounts falling due within one |
year | |
|---|---|---|
| 2022 | 2021 | |
| Trade creditors | 2,752 | 29,678 |
| VAT | 4,890 | 4,617 |
| Other creditors | 2,953 | 2,173 |
| Accruals | 7,645 | 10,002 |
| 18,240 | 46,470 |
| 19 Funds | |||||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at 1 | Incoming | Resources | Transfers | 31March | |||
| April 2021 | resources | expended | 2022 | ||||
| Unrestricted funds |
|||||||
| General | |||||||
| Unrestricted Income |
Fund | 76,542 | 119,360 | (131,115) | 742 | 65,529 | |
| Designated | |||||||
| Designated Fund |
80,000 | 80,000 | |||||
| Total unrestricted funds |
156,542 | 119,360 | (131,115) | 742 | 145,529 | ||
| Restricted funds | |||||||
| Friends Provident | |||||||
| Foundation -Building |
13,818 | 2,990 | (16,808) | ||||
| Economic Resilience | |||||||
| JRF Collaboration | 64,567 | 94,219 | (73,722) | 85,064 | |||
| Welsh Government Work |
- Fair | 3,442 | (3,442) | ||||
| Welsh Government Towns Project |
-3 | 3,323 | (3,323) | ||||
| Paul Hamlyn Foundation- |
|||||||
| Embedding the voice of migrants into policy in |
26,121 | 1,500 | (27,621) | ||||
| Wales | |||||||
| Lloyds Bank Foundation England and Wales |
for | 14,994 | 20,000 | (33,955) | 1,039 | ||
| Voluntary Action Merthyr Tydfil |
2,998 | (2,998) | |||||
| Wellbeing for Staff |
1,486 | (1,486) | |||||
| WCVA Kickstart | 3,679 | (3,679) | |||||
| WCVA VSRF Small Grant | 49,146 | (2,836) | 46,310 | ||||
| Welsh Government Race Equality Action Plan |
4,756 | (4,014) | (742) |
| Notes to | the Fin | ancial Stateme | nts for the Y |
ear Ended 3 | 1March 202 | 2 |
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | Incoming | Resources | Transfers | 31March | ||
| April 2021 | resources | expended | 2022 | |||
| Standard Life Foundation | ||||||
| (now Abrdn Financial | 50,000 | (40,351) | 9,649 | |||
| Fairness Trust) | ||||||
| Total restricted funds |
126,265 | 230,774 | (214,235) | (742) | 142,062 | |
| Total funds | 282,807 | 350,134 | (345,350) | 287,591 | ||
| Balance at 1 | Incoming | Resources | Transfers | Balance at 31March |
||
| April 2020 | resources | expended | 2021 | |||
| Unrestricted funds |
||||||
| General | ||||||
| Unrestricted Income |
Fund | 45,359 | 152,474 | (91,291) | (30,000) | 76,542 |
| Designated | ||||||
| Designated Fund |
50,000 | 30,000 | 80,000 | |||
| Total unrestricted funds |
95,359 | 152,474 | (91,291) | 156,542 | ||
| Restricted | ||||||
| Friends Provident | ||||||
| Foundation -Building |
19,779 | 39,861 | (48,184) | 2,362 | 13,818 | |
| Economic Resilience | ||||||
| JRFCollaboration | 59,471 | 70,150 | (65,054) | 64,567 | ||
| National Lottery Fund |
8,041 | (8,041) | ||||
| Welsh Government Work |
-Fair | 3,983 | 71,296 | (71,837) | 3,442 | |
| Welsh Government Towns Project |
-3 | 55,991 | (52,668) | 3,323 | ||
| Paul Hamlyn Foundation- |
||||||
| Embedding the voice of migrants into policy in |
95,000 | (68,879) | 26,121 | |||
| Wales |
| Notes to the | Fin | ancial Stateme | nts for the |
Year Ended 3 | 1March 202 | 2 | |
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at 1 April 2020 |
Incoming resources |
Resources expended |
Transfers | 31March 2021 |
|||
| National | Lottery Fund- | ||||||
| Pathway | out ofthe | 9,985 | (9,985) | ||||
| Pandemic | |||||||
| Lloyds Bank Foundation England and Wales |
for | 19,130 | (4,136) | 14,994 | |||
| Voluntary Tydfil |
Action Merthyr | 10,393 | (8,031) | (2,362) | |||
| Total restricted funds |
91,274 | 371,806 | (336,815) | 126,265 | |||
| Total funds | 186,633 | 524,280 | (428,106) | 282,807 |
| 20 Analysis ofnet assets between fund | s | ||
|---|---|---|---|
| Unrestricted | |||
| General | Restricted | Total funds | |
| Tangible fixed assets | 5,587 | 573 | 6,160 |
| Current assets | 158,182 | 141,489 | 299,671 |
| Current liabilities | (18,240) | (18,240) | |
| Total net assets | 145,529 | 142,062 | 287,591 |