##
##
|||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|