## ## ## ||||||Page| |---|---|---|---|---|---| |Trustees'
annual
report (incorporating||the|director's|report)|| |Independent
auditor's
report to|the members||||| |Statement offinancial
activities|(including||income and||| |expenditure
account)|||||12| |Statement
of financial
position|||||13| |Statement
ofcash flows|||||14| |Notes to the financial statements|||||15| ## ## ## ## |Reference|and administrative|and administrative|and administrative|details|||||| |---|---|---|---|---|---|---|---|---|---| |Registered|charity|name||Agored Cymru|||||| |Charity registration||number||1105070|||||| |Company|registration||number|5133651|||||| |Principal office and||registered||4 Llys Onnen|||||| |office||||Ffordd Y Llyn|||||| |||||Pare Menai|||||| |||||Bangor|||||| |||||Gwynedd|||||| |||||LL57 4DF|||||| |The trustees|||||||||| |||||EV Barrett|||||| |||||K Burns|||||| |||||R Clapham|||||| |||||H Davies||||(Resigned|24 February 2021)| |||||M Davies|||||| |||||J Graystone|||||| |||||P Martin|||||| |||||SRehman|Khan||||| |||||A Smith|||||| |||||C Swain|||||| |||||H Swayne||||(Appointed|22 April 2020)| |||||WP Upham|||||| |||||KWorkman|||||| |Auditor||||Walter Hunter||&Co Limited|||| |||||Chartered|accountants||&statutory|auditor|| |||||24 Bridge Street|||||| |||||Newport|||||| |||||South Wales|||||| |||||NP20 4SF|||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Year ended 31 Dece|mber|2020||||| |---|---|---|---|---|---|---| |||||2020||2019| |||||Unrestricted||| |||||funds|Total funds|Total funds| ||||Note|E|E|| |Income and endowments||||||| |Charitable
activities|||5|1,519,784|1,519,784|1,762,163| |Investment
income|||6|498|498|505| |Other'income|||7|108,899|108,899|| |Total income||||1,629,181|1,629,181|1,762,668| |Expenditure
Expenditure
on charitable|activities||8,9|1,368,560|1,368,560|1,421,602| |Total expenditure||||1,368,560|1,368,560|1,421,602| |Actuarial
loss on defined|benefit|pension scheme|12|(93,000)|(93,000)|(47,000)| |Net income and net movement||in funds||167,621|167,621|294,066| |Reconciliation
offunds||||||| |Total funds
brought
forward||||892,238|892,238|598,172| |Total funds carried forward||||1,059,859|1,059,859|892,238| ## ## ## ## |31 December 20|20|||||| |---|---|---|---|---|---|---| |||||Note|2020|2019
f| |Fixed assets||||||| |Tangible
fixed assets||||16|58,764|74,856| |Current assets||||||| |Stocks||||17|19,577|2,042| |Debtors||||18|347,003|376,526| |Cash at bank and
in|hand||||855,551|535,931| ||||||1,222,131|914,499| |Creditors: amounts|falling|due|within one year|19|97,036|66,117| |Net current assets|||||1,125,095|848,382| |Total assets less current||liabilities|||1,183,859|923,238| |Pensions
and other|retirement||benefits|20|124,000|31,000| |Net assets|||||1,059,859|892,238| |Funds ofthe charity
Unrestricted
funds|||||1,059,859|892,238| |Total charity funds||||21|1,059,859|892,238| ## ## ## ## |Year ended 31 Decemb|er 2020|||| |---|---|---|---|---| ||||2020|2019| |Cash flows from operating
Net income|activities||167,621|294,066| |Adjustments
for:
Depreciation
oftangible
fixed assets
Actuarial
loss on defined
benefit scheme|||16,092
93,000|16,089
47,000| |Other interest receivable
and|similar income||(498)|(505)| |Accrued expenses/(income)|||6,983|(54,198)| |Changesin:
Stocks|||(17,535)|15,314| |Trade and other debtors|||29,523|(139,784)| |Trade and other creditors|||23,936|(42,501)| |Cash generated
from operations|||319,122|135,481| |Interest received|||498|505| |Net cash from operating
activities|||319,620|135,986| |Net increase
in cash and cash equivalents
Cash and cash equivalents
at beginning||ofyear|319,620
535,931|135,986
399,945| |Cash and cash equivalents|at end ofyear||855,551|535,931| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Total Funds|Unrestricted|Total Funds| |---|---|---|---|---|---| |||Funds|2020|Funds|2019| ||||||r| |Centre|fees|124,514|124,514|116,560|116,560| |Accreditation||1,308,253|1,308,253|1,573,901|1,573,901| |Training|&projects|85,781|85,781|61,955|61,955| |Other income||1,236|1,236|9,747|9,747| |||1,519,784|1,519,784|1,762,163|1,762,163| ## ## ## ## |6.|Investment|income||||||| |---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||||Funds
E|2020
f|Funds
E|2019| ||Bank interest|receivable|||498|498|505|505| |7.|Other income|||||||| ||||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||||Funds
E|2020
f|Funds
E|2019| ||HMRC Job Retention||Scheme Grant||53,899|53,899||| ||Welsh Government||ERF Fund grant||55,000|55,000||| ||||||108,899|108,899||| |8.|Expenditure|on charitable||activities|by fund type|||| ||||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||||Funds
E|2020|Funds
f|2019
E'| ||Accreditation|services|||1,368,560|1,368,560|1,421,602|1,421,602| |9.|Expenditure|on charitable||activities|by activity type|||| |||||||Activities||| |||||||undertaken|Total funds|Total fund| |||||||directly|2020
f|2019
f| ||Accreditation|services||||1,368,560|1,368,560|1,421,602| ## ## ## |Analysis ofsup|port|cos|ts|||| |---|---|---|---|---|---|---| |||||Accreditation||| |||||services|Total 2020|Total 2019| |||||F|6|E| |Staff costs||||951,764|951,764|909,529| |Communications|and|IT||95,017|95,017|95,055| |Rent, Storage &|Utilities|||118,114|118,114|119,537| |Certification costs||||42,700|42,700|58,386| |External Verification||&Training||28,341|28,341|58,021| |Development
costs||||9,806|9,806|8,442| |Marketing||||18,750|18,750|30,858| |Bad debts written|off|||480|480|8,085| |Office Expenses|&Other||costs|19,811|19,811|39,873| |Audit,
Legal & Membership|||Fees|59,434|59,434|49,015| |Travel &Subsistence||||8,251|8,251|28,710| |Depreciation||||16,092|16,092|16,091| |||||1,368,560|1,368,560|1,421,602| ## ## ## |Actuarial lo|ss on defin|ed benefit pension scheme|||| |---|---|---|---|---|---| |||Unrestricted|Total Funds|Unrestricted|Total Funds| |||Funds|2020|Funds|2019| |||F|6|6|E| |Actuarial
loss on defined||benefit|||| |pension
scheme||(93,000)|(93,000)|(47,000)|(47,000)| |Net income|||||| |Net income|it stated after charging/(crediting)||||| |||||2020|2019| |||||6|F| |Depreciation|oftangible|fixed assets||16,092|16,091| |Fees paid to the auditor:|||||| |For the audit|ofthe financial statements|||5,340|5,142| |For non-audit|services|||25,878|19,170| ## ## ## ## ## ## |Staff cos|ts||||||||| |---|---|---|---|---|---|---|---|---|---| |The total|staff costs|and employee||benefits for||the reporting|period are analysed
as|follows:|| ||||||||2020||2019| |Wages and salaries|||||||951,764||909,529| |The average
head count|||of employees||during|the year was|26 (2019:25).The average||number| |offull-time|equivalent|employees||during|the year is analysed||as follows:||| ||||||||2020||2019| ||||||||No.||No.| |Provision|ofaccreditation||services||||24||25| |The number ofemployees|||whose|remuneration||for the year|fell within the following|bands, were:|| ||||||||2020||2019| ||||||||No.||No.| |F60,000to 669,999|||||||||1| ## ## ## |remuneration
orexpenses,
either
in the current ye
Tangible fixed assets|ar or in the prior ye|ar.|| |---|---|---|---| |||Leasehold|| |||Property|| ||Fixtures and|Improvement|| ||fittings|s|Total| ||6||F| |Cost|||| |At 1 January
2020 and 31 December 2020|175,383|131,043|306,426| |Depreciation|||| |At 1 January 2020|155,129|76,441|231,570| |Charge for the year|5,171|10,921|16,092| |At 31December 2020|160,300|87,362|247,662| |Carrying
amount|||| |At 31December 2020|15,083|43,681|58,764| |At 31 December 2019|20,254|54,602|74,856| |Stocks|||| |||2020|2019| ||||F| |Certificate stock||19,577|2,042| ## ## ## ## ## |Yea|r ended 31|Decem|ber 2020||| |---|---|---|---|---|---| |18.|Debtors||||| |||||2020|2019| ||||||5| ||Trade debtors|||256,491|305,352| ||Prepayments|and accrued income||90,512|71,174| |||||347,003|376,526| |19.|Creditors: amounts||falling due within one year||| |||||2020|2019| |||||8|| ||Trade creditors|||29,256|5,599| ||Accruals and deferred||income|27,130|20,147| ||Social security
Other creditors|and other taxes||31,712
8,938|31,866
8,505| |||||97,036|66,117| ## ## ## ## ## ## ## |Duration of liabilitie|s - 30.8ye|ars||| |---|---|---|---|---| |Key assumptions||||| ||||2020|2019| |||||8| |Discount rate|||1 40|2.00| |Retirement
benefit
Pension increases|plans||2 20
2.20|2.10
2.10| |Pension accounts|revaluation|rate|2.20|2.10| |Salary increases|||3.45|3.35| ||||||2020|2019
f| |---|---|---|---|---|---|---| |Males||||||| |Members
Members|aged 65 at accounting
aged 45 at accounting|date
date|||21.7
22.7|21.9
23.6| |Females||||||| |Member aged 65at accoutning
Member aged 45at accounting||date
date|||24.0
25.5|23.8
25.7| |Asset allocation||||||| |||||8||| ||||8|8||8| |Equities
Property
Government
bonds|||71
6
9|509,000
46,000
65,000|68
8
11|370,000
41,000
62,000| |Corporate
Cash|bonds||13
1|93,000
6,000|12
1|64,000
7,000| ||||100|719,00|100|544,000| ## ## ## ## ## |Reconcili|ation offunded sta|tus to St|atement ofFinancial Position||| |---|---|---|---|---|---| |||||2020|2019| |||||E|E| |Fair value ofassets||||719,000|544,000| |Present|value offunded|defined|benefit obligation|(843,000)|(575,000)| |Funded|status|||(124,000)|(31,000)| |The split of the
liabilities
at|the|the|last|valuation|between|various|categories
of members|categories
of members|is as| |---|---|---|---|---|---|---|---|---|---| |follows:|||||||||| |Active members|||||||||85| |Deferred
pensioners|||||||||15| |Amounts recognised in the Statement||ofFinancial Activities|||||||| ||||||||2020||2019| ||||||||E||E| |Operating
cost
- Current service cost|||||||34,000||21,000| |-Past service cost|||||||15,000||| |Financing cost|||||||||| |- Interest on net defined
benefit||liability|||||1,000||(1,000)| |Pension expense recognised|in|the Statement of|||Financial|Activities|50,000||20,000| |Amounts
recognised in other comprehensive||||income|||||| ||||||||2020||2019| ||||||||E||E| |Asset (losses)/gains
arising
during the
Liability gains arising
during the period||||period|||137,000
(203,000)|69,000
(118,000)|| |Total amount
recognised
in other|||comprehensive||income||(66,000)|(49,000)|| |Changes to the fair value ofassets|||||||||| ||||||||2020||2019| ||||||||||E| |Opening
fair value ofassets
Interest income on assets|||||||544,000
11,000|436,000
13,000|| |Remeasurement
(losses)/gains
Contributions
by the employer
Contributions
by the participants
Net benefits
paid out||on assets|||||137,000
23,000
5,000
(1,000)||69,000
22,000
5,000
(1,000)| |Closing fair value ofassets|||||||719,000|544,000|| ## ## ## ## |Changes
to the present valu|e o|fthe defined
benefit obfigatl on||| |---|---|---|---|---| ||||2020|2019| |||||6| |Opening
defined
benefit
Current service cost|obligation||575,000
34,000|420,000
21,000| |Interest expense on defined
Contributions
by participants
Actuarial
(gains)/losses
on
hlet benefits
paid out
Past service cost||benefit obligation
liabilities|12,000
5,000
203,000
(1,000)
15,000|12,000
5,000
118,000
(1,000)| |Closing defined
benefit|obligation||843,000|575,000| |Actual return on assets||||| ||||2020|2019| |||||8| |Interest income on assets|||11,000|13,000| |(Loss)/gain
on assets|||137,000|69,000| |Actual return
on assets|||148,000|82,000| ## |Analysis ofc|Analysis ofc|haritable|fun|ds||||| |---|---|---|---|---|---|---|---|---| |Unrestricted||funds||||||| |||||At||||At| |||||1 January|||Gains and 31|December| |||||2020|Income
6|Expenditure
F|losses
E|2020
f| |General|funds|||892,238|1,629,181|(1,368,560)|(93,000)|1,059,859| |||||At||||At| ||||1|January 20
19|Income|Expenditure|Gains and 31
losses|December
2019| ||||||6|E||| |General|funds|||598,172|1,762,668|(1,421,602)|(47,000)|892,238| ## ## ## ## |22.|Analysis of ne|t asse|ts b|etween funds||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||||||Unrestricted||Total Funds| ||||||||||Funds
f|2020
F| ||Tangible fixed
Current assets|assets||||||58,764
1,222,131||58,764
1,222,131| ||Creditors less than
1 year
Defined benefit pension|||||||(97,036)
(124,000)||(97,036)
(124,000)| ||Net assets|||||||1,059,859||1,059,859| |||||||||Unrestricted||Total Funds| ||||||||||Funds
F|2019
f| ||Tangible fixed
Current assets|assets|||||||74,856
914,499|74,856
914,499| ||Creditors less
Defined benefit|than
1 year
pension|||||||(66,117)
(31,000)|(66,117)
(31,000)| ||Net assets||||||||892,238|892,238| |23.|Analysis ofchanges||in|net debt||||||| |||||||||||At| |||||||At 1 Jan|2020
F|Cash flows
F||31Dec 2020
f| ||Cash at bank and
in||hand|||535,931|||319,620|855,551| |24.|Operating
lease commitments|||||||||| ||The total future|minimum||lease payments|under|non-cancellable|operating||leases are as follows:
2020
2019|| ||||||||||F|F| ||Not later than
1 year
Later than
1 year and
Later than 5years||not|later than 5 years|||||4,042
207,971|17,087
259,256| ||||||||||212,013|276,343| ## ##