## ## ## ## ||||||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
offinancial
position|||||13| |Statement
ofcash flows|||||14| |Notes to the financial statements|||||15| ## ## ## ## |Reference|and adm|inistrative
|inistrative
|details|details||| |---|---|---|---|---|---|---|---| |Registered|charity|name||Agored Cymru|||| |Chadty 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|||| |||||M Davies|||| |||||P Martin|||(Resigned 26 January 2022)| |||||C D Mather|||| |||||SRehman|Khan||| |||||A Smith|||| |||||C Swain|||| |||||H Swayne|||| |||||KWorkman|||| |Auditor||||Walter Hunter 8 Co Limited|||| |||||Chartered|accountants|&statutory|auditor| |||||24 Bridge Street|||| |||||Newport|||| |||||South Wales|||| |||||NP20 4SF|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||2022|2022|2021| |---|---|---|---|---|---|---|---| ||||||Unrestricted||| ||||||funds|Total funds|Total funds| |||||Note|6|E|6| |Income and|endowments||||||| |Charitable
activities||||5|1,622,834|1,622,834|1,677,750| |Investment|income|||6|1,734|1,734|96| |Total income|||||1,624,568|1,624,568|1,677,846| |Expenditure|||||||| |Expenditure|on charitable|activities||7,8|1,620,905|1,620,905|1,451,543| |Total expenditure|||||1,620,905|1,620,905|1,451,543| |Net gains on investments||||11|299,000|299,000|95,000| |Net income|and net movement||in funds||302,663|302,663|321,303| |Reconciliation
offunds|||||||| |Total funds|brought
forward||||1,381,162|1,381,162|1,059,859| |Total funds|carried forward||||1,683,825|1,683,825|1,381,162| ## ## ## ## |31 Decemb|er|20|22|||||| |---|---|---|---|---|---|---|---|---| ||||||||2022|2021| |||||||Note||F| |Fixed assets||||||||| |Tangible fixed assets||||||15|27,992|44,438| |Current assets||||||||| |Stocks||||||16|15,690|25,079| |Debtors||||||17|260,268|305,279| |Cash at bank|and|in|hand||||1,249,505|1,281,696| ||||||||1,525,463|1,612,054| |Creditors: amounts|||falling|due|within one year|18|139,630|246,330| |Net current assets|||||||1,385,833|1,365,724| |Total assets|less|current||liabilities|||1,413,825|1,410,162| |Pensions and other|||retirement||benefits|19|(270,000)|29,000| |Net assets|||||||1,683,825|1,381,162| |Funds ofthe charity||||||||| |Unrestricted|funds||||||1,683,825|1,381,162| |Total charity|funds|||||21|1,683,825|1,381,162| ## ## ## ## |Year ended 31 Decemb|er 2022|||| |---|---|---|---|---| ||||2022|2021| ||||6|| |Cash flows from operating|activities|||| |Net income|||302,663|321,303| |Adjustments
for:||||| |Depreciation
oftangible
fixed|assets||16,446|16,091| |Net gains on investments|||(299,000)|(95,000)| |Other interest receivable
and|similar income||(1,734)|(96)| |Accrued (income)/expenses|||(91,985)|150,721| |Changestn:||||| |Stocks|||9,389|(5,502)| |Trade and other debtors|||45,011|41,724| |Trade and other creditors|||(14,715)|(1,427)| |Cash generated
from operations|||(33,925)|427,814| |Interest received|||1,734|96| |Net cash (used in)/from
operating
activities|||(32,191)|427,910| |Cash flows from investing|activities|||| |Purchase oftangible assets||||(1,765)| |Net cash used
in investing
activities||||(1,765)| |Net (decrease)/increase
in|cash and cash|equivalents|(32,191)|426,145| |Cash and cash equivalents|at beginning|ofyear|1,281,696|855,551| |Cash and cash equivalents|at end ofyear||1,249,505|1,281,696| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Total Funds|Unrestricted|Total Funds| |---|---|---|---|---|---| |||Funds
f|2022
F|Funds
F|2021
F| |Centre|fees|162,669|162,669|166,154|166,154| |Accreditation||1,355,998|1,355,998|1,352,543|1,352,543| |Training|&projects|87,130|87,130|142,961|142,961| |Other income||17,037|17,037|16,092|16,092| |||1,622,834|1,622,834|1,677,750|1,677,750| ## ## ## |Investment
i|ncome|||||| |---|---|---|---|---|---|---| ||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||Funds|2022|Funds|2021| ||||6|6|6|6| |Bank interest|receivable||1,734|1,734|96|96| |Expenditure|on charitable|activities|by fund type|||| ||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||Funds
6|2022
6|Funds
6|2021
f| |Accreditation|services||1,620,905|1,620,905|1,451,543|1,451,543| ## ## ## |8.|Expenditure|on|cha|ritable|activities
by ac|tivity type||| |---|---|---|---|---|---|---|---|---| |||||||Activities||| |||||||undertaken|Total funds|Total fund| |||||||directly|2022|2021| |||||||E|6|| ||Accreditation|services||||1,620,905|1,620,905|1,451,543| |9.|Analysis of|support||costs||||| |||||||Accreditation||| |||||||services|Total 2022|Total2021| |||||||F|E|| ||Staff costs|||||1,125,098|1,125,098|984,184| ||Communications||and|IT||105,270|105,270|93,654| ||Rent, Storage 8||Utilities|||121,027|121,027|124,007| ||Certification|costs||||51,660|51,660|64,569| ||External Verification|||&Training||64,194|64,194|47,502| ||Development|costs||||9,314|9,314|2,281| ||Marketing|||||33,212|33,212|37,851| ||Office Expenses||&Other costs|||26,922|26,922|21,586| ||Audit, Legal|& Membership|||Fees|59,879|59,879|59,094| ||Travel &Subsistence|||||7,883|7,883|724| ||Depreciation|||||16,446|16,446|16,091| |||||||1,620,905|1,620,905|1,451,543| ## ## ## ## ## ## ## |Net income i|s stated aft|er charging/(crediting):||| |---|---|---|---|---| ||||2022|2021| ||||E|| |Depreciation|oftangible|fixed assets|16,446|16,091| |Fees paid to|the auditor:|||| |For the audit|ofthe financial statements||6,180|5,712| |For non-audit|services||20,120|23,309| ## |Staffcos|ts||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |The total|staff costs|and employee||benefits for||the reporting|period are analysed as||follows:||| |||||||||2022|||2021| |||||||||F|||6| |Wages and salaries||||||||1,125,098||984,185|| |The average
head count|||of employees||during|the year was|25 (2021:|25).The average||number|| |offull-time|equivalent|employees||during|the year is analysed||as follows:||||| |||||||||2022|||2021| |||||||||No.||No.|| |Provision|ofaccreditation||services|||||24|||20| |The number ofemployees|||whose|remuneration||for the year|fell within the following||bands,||were:| |||||||||2022|||2021| |||||||||No.||No.|| |260,000to F69,999||||||||1|||1| ## ## ## ## ## ## |15.|Tangible fixed|asset|s|||| |---|---|---|---|---|---|---| ||||||Leasehold|| |||||Fixtures and|Property|| |||||fittings
f|Improvements
E|Total
F| ||Cost|||||| ||At 1 January|2022 and 31 December 2022||177,148|131,043|308,191| ||Depreciation|||||| ||At 1 January 2022|||165,472|98,281|263,753| ||Charge for the|year||5,525|10,921|16,446| ||At 31 December 2022|||170,997|109,202|280,199| ||Carrying
amount|||||| ||At 31 December 2022|||6,151|21,841|27,992| ||At 31 December 2021|||11,676|32,762|44,438| |16.|Stocks|||||| ||||||2022|2021| ||||||6|| ||Certificate stock||||15,690|25,079| |17.|Debtors|||||| ||||||2022
f|2021| ||Trade debtors||||163,865|206,850| ||Prepayments
and accrued income||||96,403|98,429| ||||||260,268|305,279| |18.|Creditors: amounts||falling due within one year|||| ||||||2022|2021| ||||||6|E| ||Trade creditors||||3,077|21,896| ||Accruals and deferred||income||85,866|177,851| ||Social security|and other taxes|||40,824|37,271| ||Other creditors||||9,863|9,312| ||||||139,630|246,330| ## ## ## ## ## ## ## |Duration
of liabilities|- 3|0.8|year|s|||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Key assumptions|||||||||||||||| |||||||||||||2022|||2021| |||||||||||||0/|||| |Discount rate||||||||||||4.50|||1.90| |CPl inflation||||||||||||2.50|||2 50| |Pension increases||||||||||||2.50|||2.50| |Pension accounts
revaluation
rate||||||||||||2.50|||2.50| |Salary increases||||||||||||3.75|||3.75| |Mortality assumptions|||||||||||||||| |The mortality
assumptions|||are|based on actual mortality||||experience||of members
within||||the Fund|| |based
on analysis|carried||out|as|part of the 2019||Actuarial
Valuation,|||||and
allow|for|expected|| |future
mortality
improvements.||||Sample
life||expectancies|||at age|65 in||normal
health||resulting|| |from these mortality|assumptions||||are shown|below.|At|this accounting|||date the assumed||||rates| |of future
mortality
have||been increased
to reflect a|||||slightly||more negative|||outlook|as|a result of|| |the Covid-1 9 pandemic.|||||||||||||||| |||||||||||||2022|||2021| |Males|||||||||||||||| |Members aged 65at accounting||||date||||||||21.6|||21.8| |Members aged 45 at accounting||||date||||||||22.6|||22.8| |Females|||||||||||||||| |Member aged 65 at|accounting|||date||||||||23.9|||24 1| |Member aged 45 at|accounting|||date||||||||25.4|||25.6| |Reconciliation offunded status|||lo Statement ofFinancial Position||||||||||||| |||||||||||||2022|||2021| |Fair value ofassets||||||||||||708,000||813,000|| |Present value offunded||defined||benefit obligation|||||||(438,000)|||(842,000)|| |Funded status||||||||||||270,000||(29,000)|| |The split ofthe liabilities||at|the|last|valuation|between|various categories||||of members||is:||| |||||||||||||2022|||2021| |Active members||||||||||||85|||85| |Deferred pensioners||||||||||||15|||15| ## ## ## |Year ended 31 Dece|mb|e|r|2022|||||| |---|---|---|---|---|---|---|---|---|---| |Defined benefit schemes|||||||||| |Rhondda
Cynon Taf County|||Borough Council Pension
Fund||||(RCT) (continued)||| |Asset allocation|||||||||| ||||||0/|2022|E|2021|f| |Equities||||||68.1|482,000|67.4|548,000| |Property||||||7.8|55,000|7.3|59,000| |Government
bonds||||||10.5|74,000|12.0|98,000| |Corporate bonds||||||12.4|88,000|12.9|105,000| |Cash||||||0.7|5,000|0.4|3,000| |Other||||||0.5|4,000|0.0|| |||||||100|708,000|100|813,000| |Amounts recognised in|the|Statement orFinancial Activities|||||||| |||||||||2022|2021| |Operating
cost|||||||||| |Current service cost||||||||26,000|42,000| |Interest on net defined|||benefit liability/(asset)||||||2,000| |Pension expense recognised||||in the Statement|of|Financial|Activities|26,000|44,000| |Amounts
recognisedin|other||comprehensiveincome||||||| |||||||||2022|2021| |||||||||E|E| |Asset (losses)/gains|arising|||during the period||||(141,000)|55,000| |Actuarial
gains/(losses)||due||to changes
in financial assumptions||||495,000|| |Actuarial
gains/(losses)
assumptions||due||to changes
in demographic||||4,000|| |Actuarial gains/(losses)
due to liability experience
Liability gains/(losses)
arising
during the period||||||||(50,000)|59,000| |Total amount
recognised|||in|other comprehensive||income||308,000|114,000| ## ## ## ## ## ## |Changes to the present
value ofthe|defined benefit obligation|defined benefit obligation|defined benefit obligation||| |---|---|---|---|---|---| |||||2022
f|2021| |Opening
defined
benefit obligation||||842,000|843,000| |Current service cost||||26,000|42,000| |Interest expense on defined benefit obligation||||16,000|12,000| |Contributions
by participants||||3,000|5,000| |Actuarial
gains/(losses)
due to|changes|in financial|assumptions|(495,000)|(59,000)| |Actuarial
gains/(losses)
due to|changes|in demographic|||| |assumptions||||(4,000)|| |Actuarial
gains/(losses)
due to|liability experience|||50,000|| |Net benefits
paid out|||||(1,000)| |Closing defined
benefit obligation||||438,000|842,000| |Changes to the fair value ofasset|||||| |||||2022
f|2021
F.| |Opening
fair value ofassets||||813,000|719,000| |Interest income on assets||||16,000|10,000| |Remeasurement
(losses)/gains|on assets|||(141,000)|55,000| |Contributions
by the employer||||17,000|25,000| |Contributions
by the participants||||3,000|5,000| |Net benefits
paid out|||||(1,000)| |Closing fair value ofassets||||708,000|813,000| |Actual return on asset|||||| |||||2022
F|2021
f| |Interest income on assets||||16,000|10,000| |Gains/(loss)
on assets||||(141,000)|55,000| |Actual return
on assets||||(125,000)|65,000| ## ## |Unrestri|cted
funds||||||| |---|---|---|---|---|---|---|---| ||||||||At| |||At|1 January|||Gains and 31 December|| ||||2022
f|Income
f|Expenditure|losses
f|2022
F| |General|funds||1,381,162|1,624,568|(1,620,905)|299,000|1,683,825| ||||||||At| |||At|1 January|||Gains and 31 December|| ||||2021
f|Income
f|Expenditure|losses
F|2021
f| |General|funds||1,059,859|1,677,846|(1,451,543)|95,000|1,381,162| ## ## ## ## ## |Analysis of net as|sets between funds||| |---|---|---|---| |||Unrestricted|Total Funds| |||Funds
f|2022
6| |Tangible fixed assets||27,992|27,992| |Current assets||1,520,231|1,520,231| |Creditors less than|1 year|(134,398)|(134,398)| |Defined benefit pension asset||270,000|270,000| |Net assets||1,683,825|1,683,825| ||||Unrestricted|Total Funds| |---|---|---|---|---| ||||Funds|2021| |||||E| |Tangible fixed assets|||44,438|44,438| |Current assets|||1,612,054|1,612,054| |Creditors less than|1 year||(246,330)|(246,330)| |Defined benefit pension||liability|(29,000)|(29,000)| |Net assets|||1,381,162|1,381,162| ## |23.|Analysis|ofc|han|ges
in|net debt||||||| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||At| ||||||||At 1 Jan|2022|Cash|flows|31 Dec 2022| |||||||||||E|8| ||Cash at bank and|||in hand|||1,281,696||(32,191)||1,249,505| |24.|Operating|lease||commitments|||||||| ||The total future||minimum||lease payments|under|non-cancellable|operating||leases are as follows:|| |||||||||||2022|2021| ||||||||||||E| ||Not later than||1 year|||||||615|1,475| ||Later than|1 year||and not|later than 5years||||126,401||175,610| ||||||||||127,016||177,085| ## ##