# **`REGISTERED COMPANY NUMBER: 05608888 REGISTERED CHARITY NUMBER: 1113675`** ## **`THE MAKERS GUILD IN WALES`** ## **`REPORT OF THE TRUSTEES AND`** ## **`FINANCIAL STATEMENTS`** ``` FOR THE YEAR ENDED 30 JUNE 2021 ``` ``` Carr, Jenkins & Hood Oystermouth House Charter Court, Phoenix Way Swansea Enterprise Park Swansea SA7 9FS ``` ``` THE MAKERS GUILD IN WALES ``` ``` CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ``` ||**`Page`**| |---|---| |**`Report of the Trustees`**|`1 to 10`| |**`Independent Examiner's Report`**|`11`| |**`Statement of Financial Activities`**|`12`| |**`Balance Sheet`**|`13 to 14`| |**`Notes to the Financial Statements`**|`15 to 27`| ## **`THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report with the financialstatementsof the charityfor the year ended 30 June 2021. The trustees have adoptedthe provisions of AccountingandReportingby Charities:Statementof RecommendedPracticeapplicableto charitiespreparing their accountsinaccordancewiththeFinancialReportingStandardapplicableintheUK andRepublicofIreland(FRS 102) (effective 1 January 2019). ``` ``` The report of the trustees also incorporates a directors' report as required by company law. ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives`** ``` The MakersGuildin Wales is a nationalappliedart and craftmembershiporganisationbasedin Cardiff,Wales,with a membershipspreadalloverWalesandwithourhomeinauniqueHeritagebuildinginCardiff.Originallysetupas a Maker Co-operative in 1984, the Guild still operates with those values and remains volunteer led. ``` - `Inspiring craft engagement - The Guild inspires engagement and learning about contemporary craft, by` - `- providing opportunities for audiences and artists to experience contemporary applied art and craft in Wales. Supporting Welsh Craft Makers - The Guild is the largest membership Craft organisation in Wales. Our Makers` - `all share in our strong co-operative ethos.` - `Celebrating craft excellence - We Champion high quality hand-made crafts and applied art in Wales both by` - `our members and of invited National and International artists through our exhibition programme.` ``` The Gallery'svisionis to inspire,supportandcelebratethroughinnovativecontemporarycraftandto meet our Guild of 89 Makers allowingour audiencesto connectwith artists workingwithin a Welsh context in a stimulating, engaging, inclusive and welcoming environment. ``` ``` The Guild has been successfully managing to sustain and maintain its charitable objectives for over 36 years, namely: ``` ``` "TheObjectsaretoadvanceeducationforthepublicbenefitinthevisualArtsandCraftsinparticularbut not exclusively by exhibitions of high quality handmade crafts and the provision of workshop programmes". ``` ## `Mission Statement` ``` "TheMakersGuildinWalesistheNationalCraftOrganisationforWales;amembershipbodythatengages and inspires through the promotion of excellence in craft." ``` ## **`Public benefit`** ``` Thetrusteesofthecharityarecommittedtoprovidingapublicbenefit,andhavetakenintoaccountthe Charity Commission's guidance in this area. ``` ``` The Guild providesthe publicwith free access to high qualityexhibitionsof craft by maker members of the Guild along withaneducationalexhibitionprogrammeofNationalandInternationalCraftandAppliedArt.Linkedwith each educationalexhibitionisaprogrammeofcommunityworkshops,usuallytakingplaceatCraftintheBay,a unique Heritage asset and a Grade II listed building, a former Victorian Maritime Warehouse in the heart of Cardiff Bay. ``` ``` 1 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ## **`STRATEGIC REPORT`** ## **`Achievement and performance`** ## **`Charitable activities`** ``` The Makers Guildin Wales was formedin 1984 as a Maker Co-operative.The Guildis home to a uniquecommunity of Welsh Makers,a thrivinghubfor Craftand AppliedArt in the Capitalof Wales.The Galleryhousesexhibitionsof work bymembersofTheGuildofWelshCraftmakersalongsideacuratedprogrammeofthefinestNational and Internationalcraftandappliedart.Alongwithawell-regardedprogrammeofcommunitycraftworkshops working withourlocalcommunities.To ouraudiencesandcommunities,The MakersGuildis more commonlyknownas 'Craft intheBay',highlightingthefactthatthebuildinghasbecomesynonymouswiththeorganisationitself,the names intertwinedandinterchangeable.The Guildis a uniqueandhighlyregardedpartof Cardiff'srichculturallandscape; it is sustainable, resilient and has support throughout the City. ``` ``` Aftermanyyearsofmovingbetweentemporaryaccommodation,theGuildmovedintoitspresenthomeinCraft in theBayinJune2002,havingraised£1.4milliontorestore,reconstructandextendthe"D"ShedaGradeII listed heritage building; ``` ``` 'ThebuildingmarkedonFirstEditionOrdnanceSurveymap(surveyed1870's)aswarehousebesideButeEast Dock Basin.Knownas "D" Shed ...Listedfor specialinterestof C19 sectionof building,a rare examplein Wales of a mid C19 iron framed dock warehouse/transit shed.' (CADW) ``` ``` Thecompletedbuildingwasshort-listedforaRIBAawardandthebuildingreceiveda"highlycommended" British ArchaeologyAwardin 2004. The Guildsuccessfullycompletedthe purchaseof the freeholdof the Craft in the Bay site in March 2006. ``` ``` Our'makercommunity'istheheartofourorganisation,havingoriginallybeencreatedasamakerco-operative in February1984.TheGuildstillretainsaco-operativeethosthroughouttheorganisation.ThisgivestheGuild a cumulativeandunitedstrength,allowingmemberstofeelpartofagroupsharingavisionwhilstmembers benefit from a multi-layered programme of opportunities. ``` ``` OurcommunityofCraftmakersmeanthattheGuildisuniqueinWales,ourMakersareattheheartof the organisation.Withourco-operativeethos,maintainingafocusonfairness,emphasisingequalityand sustainability; andmaintainingstrongethicalvalues.SincesuccessfullyopeningCraftin the Bay,in 2002,membershiphas grown by 27%, and the Guild is committed to continuing this growth going forward. ``` ``` Co-operativeworkingalongwithanemphasisonvolunteeringarecoretoourorganisation,werecogniseand value thespecialworkvolunteersdoinourcommunity.Thesearetwopillarsonwhichourorganisationoperateswith and values. ``` ``` In June 2012,the Guildwas usedas an exemplarstudyintoco-operativeconsortiaby the WalesCo-operative Centre. In 2016 our longhistoryof volunteeringwas recognisedin the NLHF projectled by VCS Cymru.The 'Chronicle Project' was a communityheritageprojectdocumentinga centuryof volunteeringin Cardiff,this projectwas unveiledby Julie Morgan AM. ``` ``` OurGalleryis uniquebothhistoricallyandculturally,andis a substantialHeritageandTouristassetfortheCapital of Wales. ``` ``` In May 2018,The Guildwas invitedto attendBuckinghamPalaceat the invitationof The GarfieldWeston Foundation tocelebratetheir60thAnniversaryofFunding.TheeventwashostedbyHRHPrinceofWalesandthe Foundation selectedasmallnumberoforganisationsthattheyhadfundedtoattendthiseventinordertorecognise the charitable work that they do. ``` ``` Our last year in numbers... ``` ``` 7,076 people visited our Gallery and exhibitions ``` ``` 2 ``` ## **`THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ``` 66,029 page views (16,422 unique visits) 4,043 Followers on Twitter 4,193 follows on Facebook 3,437 followers on Instagram ``` ``` 2,110 took part in our craft workshops and community programmes and artist talks 863 people purchased craft 325 days given to the organisation by our volunteers 94 craft-makers in our membership 85 'Friends of the Makers Guild' We've welcomed 1,219,906 visitors since we opened in June 2002 ``` ``` We are grateful to all of those who engage with us in whatever format, platform or experience. ``` ## **`COVID-19`** ``` UptothepointwhenTheGuildwasforcedtocloseitsdoorsfortheinitialLockdowninMarch2020,itwasa viable 'business';asuccessfulartscharity,supportingover90MakersacrossWalesinMembershipofCraftmakers,with a team of staff and a large pool of volunteers, working with audiences and communities both locally and Nationally. ``` ``` AsaGuildofMakersfromalloverWales,theimpactonthecharityduringthisperiodhasbeenfeltacross Wales. Whathadoncebeenastrength,amoveawayfrompublicfundingandrelianceongeneratingincomeonsite, had duringthe pandemic,becamea significantdisadvantage.By beingmore economicallyindependent,the lackof public funding had put The Guild in a weaker position than others in the sector. ``` ``` Incomeearnedonsitedisappearedovernight,andsoduringtheseinitialfew weeksTheGuildhadtoutiliseits small reserve.DuringthisperiodtheGuildtaskedaFundraisingcommitteetoraisefundstoensuretheGuild's ongoing sustainability.TheGuildwassuccessfulinapplyingforfundingtohelpTheGuildnavigatethroughthisperiod, and importantly,allowedspaceto developa plantore-openand'adapt'.Thisadaptplanincludedthepreparationof the building for re-opening, help towards non-furloughed staff costs, and to implement The Guild's Digital plan. ``` ``` Thankfully,supportcamefromFoundations,Trusts,PublicandLotteryFunds,forwhichtheGuildismost grateful. FundingprovidedstabilityfortheGuildtoremainduringthisextraordinaryperiod,sustainingtheorganisation and allowingtoplanforre-opening,implementaplanto'adapt'theorganisationandprovidingTheGuild'sMakers with the opportunity to earn income once more. ``` ``` TheGuild'sAdaptPlanhelpedstaffandourMakerslearnnewdigitalskills,ournew'MakersBlog'serieswas very popular.MakerswroteupdatesonwhattheyhadbeendoingduringtheLockdownperiods,fromcreatedgowns for theNHS,tocreatingnewworktohelpfundraisefortheGuilditself.AnumberofGuildMakersalsoprovided Zoom virtualstudiovisits,which were very popular.The Guild'sMakers also createda series of videos,which were shown to MenterCaerdydd'saudienceof sociallyisolatedover65'sinCardiff,thevideoswere followedbya liveQ&Awith the Maker, these were very well received. ``` ``` TheGuildbeganworkonanewonlineshopduringthisperiod,withtheGalleryclosed,theabilitytoonce again generateincomebothfor the Guildand our Makers was seen as a priority.We engagedthe help of a specialist Digital Agency to help us navigate through this. ``` ``` TheGuild'sMakersareattheheartoftheorganisation,theyhelptosustaintheorganisationandareatthecore of the Guild'sethos.New channelsof communicationwithmemberswere created,andit was soonrealisedthatno two membershaveexperiencedthisperiodthesameway.TheimmediateimpactonourMakershasbeensevere, with incomefromshutdowngalleriesandcancelledworkshopsdroppingtozero,manysoughthelpwithUniversal Credit claims,applicationsforemergencyfundingandofferingopportunitiesfor'contact'orjustaninformal'chat'. Though manyhadmanagedtoremaincreativethroughtheperiod,somehavenotfeltabletoworkatall.The Guild's programmingwasadaptedtoreflectthesechallengingtimes,andofferedMakerstheopportunitytodisplay their creativity through new exhibitions. ``` ``` 3 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ``` PriortothePandemic,TheGuildhadcompletedaNationalLotteryHeritageFundResilienceProgramme, initially, Lockdownrenderedalmostallofthatplanningandworkasnolongerfitforpurpose,almostovernight.However as this periodcame to an end, The Guild was able to revisit these plans and adapt them in light of the ongoing pandemic. The Guild is committed to undertaking many of this project's findings, as the situation allows. ``` ``` AfterthefirstLockdowntheGuildwasabletore-openlateinJuly2020,thissummerperiodstillhada significant reductioninfootfall,ascomparedtothepre-pandemicperiod.Internationaltouristswereunabletovisit,and UK touristnumbersnotmakingasignificantdifferencetothedropinfootfall.CardiffBayalsosufferedas offices remainedempty(andcontinuetodosointo2021).Themajoranchororganisationfortheartsaudiences, Wales Millennium Centre, remained closed as of July 2021. ``` ``` Theearlyautumnperiodbroughtnew'LocalRestrictions'-Cardiffresidentswereunabletoleavethecounty, and residentsfromoutsideofthecountywereunabletovisit.ThisledontotheNational(Welsh)Firebreakin October, leadingto thesecondLockdownforChristmasandsubsequentre-openingonthe17thApril2021.Footfall continued to be below pre pandemic levels, and usual patterns and pre-pandemic predictions no longer applicable. Notably,duringthis periodof Lockdowns(The Guild'sGalleryhas been closeddue to Lockdownrestrictionsfor a total of 187 days duringthis period)onlineaudiencesexceededin personaudiencesfor the very first time. Obviously there aremitigatingcircumstancesastowhyaudienceshavebeenunabletophysicallyvisit(Lockdown,Firebreak, low tourismnumbersetc...),butitdoesprovideadditionalevidencetobackuptheGuilds'adapt'plan,toexpand our digital offering and to re-positioning itself to expand this growing and strategic audience. ``` ``` The Guild managed to navigateits way throughthe most extreme year in our organisationshistory.The Guild learnt to befleetoffoot,adaptingandabletomanagechangeunderextremepressureandoveradramaticallyshort period. These attributes are evident within the Board of Trustees, Staff, Makers and Volunteers. ``` ``` Intermsoflearning,TheGuildhadtogetusedto'expectingtheunexpected',budgetingandmakingona much shortertimescales,amendingandadaptingweekbyweekanddaybyday.TheGuildisnowamuchmore resilient organisation as a result. ``` ## **`Programme highlights`** ## **`Educational Exhibition programmes`** ``` TheMakersGuildWalesexhibitionsthrough2020into2021wereof courseimpactedbytheCOVID19pandemic and lockdownperiodswhentheGallerywasforcedtoclose.TheGuildrearrangedandrescheduledexhibitions delayed duetorestrictions,suchastheSTONEexhibition,originallyplannedtoshowinMay2020.TheGuild supported exhibitionswithastrongonlinepresencethroughfilmedvirtualtours,interviewswithMakers,demonstrations and workshops. ``` ``` Wherepossibleandinlinewithchangingrestrictions,TheGuildofferedeventsinandoutsidetheGalleryas drop-in sessionsand bookableworkshops.AdditionalMaker in Focusexhibitionswere held withinthe Galleryfor members of the Guild to show and sell new collectionsof work. The Guild adapteda numberof exhibitionsto featureMakers from the Guild, in order to help sustain their income during this period. ``` ``` Makers Guild exhibitions during this period: ``` ## **`Standing Still A Shared Story`** ## **`Open - July until September 2020`** ``` ThisexhibitionwasduetoopentheweekthatLockdownbeganinMarch,andso,oncereopened,wasextended to allow audiences to see this moving exhibition. ``` ``` 4 ``` ## **`THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ``` StandingStillbroughttogetherthreeartistswhosharedsimilarprincipleslinkingtothenaturalenvironment. Each artistbroughttotheexhibitiontheirveryindividualapproaches;selectingmaterialsandprocessestheyhave both passionforandgreatskillinworkingwith,tocreatetheirdesiredoutcomes.NickDavies,SashaKingstonand Jayne Walkerfoundinspirationfromthecoastalgeologyof SouthandWestWales- exploringtherockstrata, geographical contours,surfacesshapedby weatheringanderosion- the rhythmsandcyclesassociatedwiththe naturalworld. The artistshavekeptadialoguethroughouttheirresearchandmakingstages,sharingexperiences, observations, experiments with materials. ``` ## **`Makers Guild Autumn/Christmas exhibition`** ## **`Set up September but closed due to restrictions in mid December 2020`** ``` Our exhibitionfocusedon showcasingGuildmembers work(new collectionsor from pastcollections).Supporting our membershipwas the overridingmessage of the show.Makerswere askedto providenew workcreatedby those able to work duringLockdown,and therebyprovidingincome for Makers,many of whom had been withoutincome during the first Lockdown period. ``` ``` AdditionalworkcreatedbyGuildmemberswasaddedwithChristmasgifts,stockingfillersetcinNovember. The Exhibition was forced to close due to the restrictions implemented in December. ``` ``` Lockdown Restrictions meant that the Guild's Gallery was forced to remain closed until 17 April 2021. ``` ## **`STONE - the carved form`** ## **`8 May - 18 July 2021`** ``` AnexhibitioncelebratingtheextraordinarycraftsmanshipincontemporarystonesculptureintheUK.Sculptor and curatoroftheexhibition,PaulMitchellselectedartistswhoworkinavarietyofdifferentstonesincluding granite, slate,limestone,marbleandalabaster.The artistseachdemonstratetheirmasteryof stonecarving,whetherin relief or in the three-dimensionalform.The inherentqualitiesof the stone;it'stranslucency,reflection,absorptionof light, uncoveredthroughthemasteryof carvingandfinish.ExhibitingartistsTom Clark,DavidEngland,PaulMitchell, Meic Watts (also a Guild member) and Jude Tucker. ``` ``` As part of the exhibitionand underrestrictionscarvingdemonstrationsoutsidethe Gallerytook place duringMay and June with Meic Watts and Paul Mitchell. ``` ``` Theexhibition'walk&talk'wasfilmedbyanexhibitioncurator.ItwasmadeavailableviaYouTubeonour website andsocialmediaplatforms.PaulMitchelltalkedabouteachartistsworkinmoredepth-lookingatthe artist's inspiration, carving techniques and materials. ``` ## **`Maker in Focus`** ``` Exhibitions focused on new work by Guild Makers ``` ## **`Eluned Glyn and Marian Haf`** ## **`April to 23 May 2021`** ``` A wonderfulexhibitionofworkbytwoGuildmembersaspartofourMeettheMakerartistfilmsproject. Supported by ACW we were ableto commissionElunedGlynandMarianHaf to createshortfilms thatgive a peek at life behind theirstudiodoors(allduringLockdownconditions).Theyhavegenerouslysharedwithustheircreative process, talkingaboutthe inspirationsbehindtheirwork,howtheyplan,designandmake as well as lookingat theirideas for future development. The films were available on You Tube, in Welsh and English. ``` ``` 5 ``` ## **`THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ## **`Alison Moger - Lunaria Annua/Honesty Plant`** ## **`29 May - 27 June 2021`** ``` GuildmemberAlisonMogerwillbeshowingherrecentbodyofworkcreatedduringtheCOVIDlockdownsof recent months.It is inspiredby her own memories, previousartistresidenciesin care homes and her ongoingonline teaching withcarehomeresidents.Alisonhasbeenwritingherthoughtsandwordsfromtheresidencyontothe Honesty seedpods.A symbolof goodluck,her stitchworkintothem representsthe passingof time,ageinganddementia. The fragility of the pods themselves reflecting the fragility of life. ``` ## **`Emerging Makers - Students of Cardiff School of Art, Cardiff Metropolitan University`** ## **`June 2021`** ``` AstudentexhibitionofceramicsandtextilesbygraduatesofCardiffSchoolofArt,CardiffMetropolitan University 2021.The MakersGuildWalesis a key supporterof the studentsandgraduatesof art anddesign.For manyyears we havecelebratedtheirceramics,jewellery,furnituredesign,printmakingandtextilesthroughexhibition opportunities in 'Oriel 2'. ``` ``` LinkedtoourStudentAssociationandMembershipschemesforstudentsandrecentgraduates,TheGuild offers trainingand supportin areas includingportfoliopresentation,approachinggalleries,curation,pricingand display.As a membershiporganisationTheGuild'sCraftMakersregularlycometotheGallerytohelpwithstewarding,give craft demonstrationsand talks and to meet studentsto discusstheir work. The graduatesexhibitinghave had a challenging 12monthsinwhichtheyhavehadlittleaccesstostudiosandequipmenttorealisetheirideas,whetherin ceramics, metalwork,textiles,glassorwood.Workingremotelyfromhomethegraduateshavemadeanexceptionaleffort to createabodyofworkinclayandtextilestopresentfortheirfinalassessments.Withworkinanumberof outreach exhibitions, we were able to show a small sample of their work, most of it for sale and/or available for commission. ``` ## **`Community Projects`** ## **`'Cwrdd ar Crefftwr'`** ## **`Welsh Language digital project`** ``` Our new Welsh Language Craft educational project partnering with Menter Caerdydd, Cardiff ``` ``` DuringLockdown,ourMakerscreatednewvideocontent,throughthemediumofWelsh,whichwe uploadedto our YouTubechannel,thisvideowasthenplayedtoMenterCaerdydd'stargetaudience,ofsociallyisolatedover65's in Cardiff. ``` ``` CeramicistElunedGlynandprintmakerMarianHafworkingunderLockdownconditions,filmedthemselvesin their studios,givinganinsightintostudiopracticeandbeingverygenerousinshowingsomeoftheirmaking techniques andplansfor furtherdevelopment.These films were createdin WelshandlaunchedourMeet the Maker partnership withMenterCaerdyddwhereliveQ&Asessionswereheldfollowingeachviewing.MenterCaerdyddwere very pleased with the Meet the Maker sessions and had excellent feedback from the participants/viewers.We will continue to create these opportunities for audiences through the Welsh language. Feedback received; ``` ``` "Elunedwas brilliant- very enthusiastic;informativeand friendlywhen answeringquestions.She's a naturalin front of the camera." ``` ``` "Great session with Marian today.The video was informativeand friendlyand Marian was brilliantat answeringall the queries and questions." ``` ## **`Heritage`** ``` TheGuildbeganapartnershipwithTheHeritage&CulturalExchange,aCardiffbasedcommunitygroup which exploresandcelebratesthesocialandculturalheritageofTigerBayandCardiffdocklands.TheGuild's unique Landmarkbuildingis a Grade II listed VictorianTransitWarehouseof Cast Iron Construction.Originallyknown as the D Shed,itisoneofthelastmid-nineteenthcenturybuildingsinCardiffBayandisoneofthefewremaininglinks to Cardiff'sIndustrialandMaritimeHeritage.It appearedon the firsteditionOrdnanceSurveymap of the 1870s located alongside Bute East Basin. ``` ``` 6 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 ``` ``` TheGuildisproudofthisuniqueculturalheritage,andasaresulthasbeguntocelebratethishistory.The Heritage andCulturalExchangeposesauniquearchiverelatingtotherichhistoryofTigerBayandtheCardiffDocks area. Partneringthem,initially,todeliversomenewinterpretationpanelsandnewdigitalcontentforour website, reflectingtherichhistoryofourHeritageBuildingandtheCulturalContextwithinwhichitwascreatedand existed. We are buildingon thisworkandhavesoughtadditionalfundingto createa digitalresourceusingthe workwe have already achieved as a springboard. We see this partnership growing in the future. ``` ## **`Financial review`** ## **`Principal funding sources`** ``` Undernormalcircumstances,commissionsfromthesaleofMakerMembers'workdisplayedinthemain Gallery space, rental income from the restaurantincome from educationalactivitiesand the lettingof meeting rooms produce thebulkoftheCharity'sincome.TheongoingCOVID-19pandemicmeansthattheGuildhasdevelopeda new FundraisingStrategywhichmeans the GrantFundinghas now become the largestsourceof income,the planis under constantreview and continuesto evolve as the currentsituationprogresses.With restrictionsbeing removed over the summer,saleshaveslowlystartedtoimprove,andasaresulttheGuildisabletobuildonthisincomeonce more. However,theGuildisacutelyawarethatdiversifyingitsincomestreamsiskeytoitsongoingresilience.Therefore in developing a balanced long term strategy, the Guild will ensure that it's income is as secure as it is possible. ``` ## **`Investment policy and objectives`** ``` UndertheMemorandumandArticlesofAssociation,theCharityhaspowertoinvestinanywaytheTrustees wish. The Trustees regularly review the investment funds to ensure that they are the most appropriate for the Charity. ``` ## **`Review of finances`** ``` The Guild has been fortunate to receive Grant help through this period from the following ``` ``` The Moondance Foundation; The Garfield Weston Foundation; The Oakdale Trust; The Arts Council of Wales; National Lottery Heritage Fund; The Davies Sisters Charities; The Foyle Foundation; Welsh Government; Cardiff Council The Guild would like to thank all of the above for their support during this period: ``` ``` The Guildwouldalsoliketo thankThe Friendsof the MakersGuild,Membersof The MakersGuildandour individual supporters. ``` ``` TheGuildhascreatedaplananddetailedbudgetgoingforward,takingintoconsiderationthelearningsfrom the pandemic.Lessonslearnt,especiallyattheearlystageofthispandemic,showthatdiversifyingincomestreams, a fundraising plan and the creation of a new strategic reserve are all essential to ensuring the Guild's future. ``` ``` The Guildhas learntto review and amend plansin 'real' time as a resultof the pandemic,and as a resultTrustees feel confidentthat the organisationis much better positionto sustainitself goingforward.To help this plan,The Guild has beguntoadaptitsincomestreams,(suchasitsnewonlineshop),createdongoingrelationshipswith Funders (especiallywiththosewhosupportingtheGuildduringthepandemic)andisensuringthatareserveis created sufficient to see it through a similar scenario , should it occur again. ``` ``` 7 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ## **`STRATEGIC REPORT`** ## **`Financial review`** ``` TheGuildhasaprudentapproachinrelationtocashflowmanagementandthankfullytheGuildhasbeenable to successfullyaccessseveral'EmergencyFunding'grantsthroughthisunprecedentedperiod.Althoughthe Guild's reserveswere almostcompletelydiminishedduringthefirstfew weeks of Lockdown,stepshavebeentakento begin torebuildcashreservesoverthenext12months,despiteanticipatingareductionin(thoughimproving) earned income.The Guild'splanis to ensuresufficientreserves are acquiredto ensurethe Guildcan face a similarsituation if one was to occur again. ``` ``` FollowingthesuccessofthefundraisingstrategyduringtheyearadesignatedInvestmentfund/reservehas been created.Thefundwillbeutilisedoverthecourseofthenextfinancialyearwithanumberofstrategic projects ongoing,includingimplementationofrecommendationsfromtheNationalLotteryHeritageFund'Resilience Project' andongoingandessentialbuildingmaintenancetoensurelongtermfinancialstabilityinanincreasingly uncertain economic climate. ``` ## **`Reserves policy`** ``` TheGuildwasinitiallyforcedintoutilisingmostofitsreservesinorderintheinitialstageoftheCOVID-19 pandemic and subsequentLockdownperiod.Althoughmuch depleted,these Reserves helped the Guild survive until funding was receivedfromUK andWelshGovernment,Foundations,Trustsanddonations.TheGuildhasprioritisedthe building of a new larger reserve to ensure the Guild can face a similar situation once again should it ever occur. ``` ``` Trustees ensure that the disposition of restricted funds is in accordance with donor requirements. ``` ## **`Factors affecting the Charity`** ``` WiththeunexpectedarrivalofCOVID-19,theinitialimpactontheCharitywassevere,testingthe organisations resiliencetotheextreme.Thankstogoodmanagementandquickactions,theGuildhasmanagedto successfully navigatethe initialstage.Movingforward,as restrictionsare eased,incomeis improving,however,therestill remains muchuncertainty.The Guildhas learntto expectthe unexpectedandis thereforeplanningto ensurethatthe charity is much more resilient to any potential threats and risks that may still lie ahead. ``` ## **`Future plans`** ``` Due to the COVID-19 pandemic,the Guild had to postponeits organisationaldevelopmentplans which were produced as a result of a recent NationalLotteryHeritageFund 'ResilienceProject' in late 2019. It is however the Trustees aim to instigate a number of these recommendations to build the Guild's resilience over the coming year. ``` ``` TheGuildis alsomindfulof theplansunderconsiderationforCardiffBayandtheGuildsimmediatesurroundings. As plansdevelopandmaterialise,theGuildwillensurethatthecharityis bestpositionedtoengagewithandbe part of these developments. ``` ``` The Guild fund raising will continue evolve, with a diverse and balanced mixed of income streams. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Constitution`** ``` TheCharityisacompanylimitedbyguaranteeandwasregisteredwiththeCharityCommissionon6April 2006, althoughThe Makers Guild in Wales was first establishedby a groupof Makers in 1984. The GoverningDocuments are heldat Craftin the Bay. In October2006,the Guildagreedto the establishmentof the currentCharity.There are two categoriesofmembership;Maker-MemberandSupporter-Member.Inordertobecomea Maker-Member, craftmakerswholiveandworkinWalesareentitledtoapplyandsubmittheirworktotheGuildsrigorous artistic selection procedure. ``` ``` Atpresent,mostareasofWalesarerepresentedwithinthemembership,withmoreinevitablybasedinSouth East Wales, simply reflectingthe populationdistributionof the country.The membershipis not evenly balancedin terms of gender, at present it is 26% male and 74% female. ``` ``` 8 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Recruitment and appointment of new trustees`** ``` Trustees,whoare eitherMakeror Supporter-Membersof the Guild,are appointedat the AnnualGeneralMeeting. A maximum of 25% are Maker-Membersand the remainderare recruitedexternallyas SupporterMembers according to the differing skills which are seen to be appropriate. ``` ``` Trusteesarenowrecruitedviaa formalinterviewandthenselectedaccordingto abilityandsuitabilityfortherole. A formal induction process is to be introduced in due course. ``` ``` As a resultof the pandemic,The Guildwas fortunateto havethe supportof its BoardwithTrusteeswillingto remain in post as recruitmentbecome difficultdue to restrictions.However, as restrictionsare eased the Guild will once again begin it's recruitment process. ``` ## **`Organisational structure`** ``` The governingbody is the Board of Trustees who are non-executive,unpaidand meet six times a year. The Board have nowformallyestablishedfivestandingcommitteeswhoreportdirectlytotheBoard;aFinanceCommittee, an Education and Exhibitions Committee; a Membership Committee, a Marketing Committee and a Buildings Committee. ``` ``` Each committee is made up of at least two Trustees and a staff member, with furtherpersonnelrecruitedas and when required.TheBoardhavealsoreviewedandupdatedstaffingandinternalcommunicationstructures.The Board delegate the general day to day running of the Charity to Mr S Burgess, the General Manager. ``` ## **`Induction and training of new trustees`** ``` Thereisaformalinductionortrainingprocessfortrustees.Vacantpositionsareadvertisedandashortlist are interviewed for each post. Trustees are chosen for the specific skills that they bring to the Board. ``` ## **`Risk management`** ``` TheTrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate controlsareinplacetoprovidereasonableassuranceagainstfraudanderror.Riskassessmentandthe management ofriskisacontinuousprocesswithallareasbeingaddressedasrequiredandtheTrusteesaresatisfied that appropriate action has been taken to mitigate any impact of these risks. ``` ``` The arrivalof COVID-19,means that Charityassessment of risk has and will continueto have to be re-evaluatedin light oftheongoingpandemicandanysubsequentshort,mediumandlongtermeffectsthatthisoranyother pandemic may as yet bring. ``` ## **`Staffing`** ``` TheGuildemploys3full-timestaffand4part-timestaff,whichhasremainedconstantforanumberof years. VolunteeringhassincetheGuild'sinceptionin1984,beingseenasvitaltoensuringthattheGuildcan operate effectively.VolunteeringisastrengththatgivestheGuildanabilitytocallontheskills,timeandenergyofa large dedicated and supportive volunteer base when required. ``` ``` ThestaffingoftheGalleryareaissupplementedbyavolunteereachday.TheGuildoperatesaprogramme of volunteeropportunitiesandrecruitsthroughtheVolunteerNetwork,partoftheThirdSectorSupportWales. The Guildis a memberof the WelshCouncilforVoluntaryAction(WCVA).Withthe Guildbuildingclosedformuchof this period,the numberof volunteerdaysgivento the guildforthe periodis muchreduced,howeverthe Guildwishes to thankourvolunteersforthesupportandassistancegiven.TheGuildhasbeenavolunteerledand supported organisation since it's inception in 1984 with many long serving volunteers. ``` ``` TheGuildoperatedwiththehelpof325daysgivenbyvolunteersin2019/20whichincludemaker-members, school pupils,students,volunteersandFriendsoftheGuild.TheGuildis gratefulforthesupportithasreceivedinthis area fromVolunteeringWales,CardiffThirdSectorCouncilandTheWalesCouncilforVoluntaryAction;TheGuild would like to recognise the special efforts that volunteers from the Friends of the Makers Guild give to the Guild. ``` ``` 9 ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30JUNE 2021 REFERENCE AND ADMINIStRATIVE D￿Alls Reglstered Company number 05608888 (Not speafied/Otherl Reglstered Charlty number 1113675 Regt5tered office The Flourish Lloyd George Avenue Cardiff CFIO 4QH Trustees B Adams S Nicholls Chair G Purcell-jones Treasurer R Pitt Vice-chair D S Lewis B Gegenwart D E james P R Thomas T AAdam P Lawrence LMGTann Company Secretary S Burgess Independent Examlner Stuart Halries FCA ACCA Independent Examiner Carr, jenkins & Hood Redwood Court Tawe Business Villa8e Swanse SA7 9LA INCORPORATION ANO COMMENCEMENT OF ACTIVITIES The Charity was incorporated on l November 2(X)5 and comrnenced trading on l Ortober 2(￿6, when it merBed it's two previous organisatlons into one sIn￿e corporate charity. The Charity under itrs prewous identity has traded since 1984. This report has been prepared in accordance wlth the spetial provisions of Part IS of the Companies Art 2(¥J6 relatin8 to small companies. Report of the trustee irector incofporating a strategic report. approved by order of the board of trustees. a5 the company . and signed on the board's behalf by= Nicholls- Trustee io INDEPENDENT EXAMINER'S REPORTTO THE TRU5fEES OF THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) Independent examlner's report to the trustee5 of The Makers Guild In Wales Iyhe Company'l I report to the charity trustees on my examir)ation of the accounts of the Company for the year ended 30 June 2021. Responslbllltles and basts of report As the chariws tnjstees of the Company land a150 its dirertors for the purposes of company lawl you are responslble for the preparation of the accounts in accordance with the requirements of the Companies A¢t 2(￿61'the 2Crf)6 Act'l. Havin8 satisfied myself that the atcounts of the Company are not requlred to be audited under Part 16 of the 2￿6 Act and are eligible for independent examination. I report in respett of my examination of your charlty's accounts as carried out under 5ertion 145 of the Charities Act 2011 l*he 2011 Act'}. In carrying OLrt my examination I have followed the Dirertions given by the Charity Commlsslon under section 145{51 Ibl of the 2011 Act. Indepèndent examSner's statement Slnce the company's gross income exceeded £250,CKK) your examiner must be a member of a body listed in sertlon 145 of the 2011 Act. I can confirn) that l am qualified to undertake the examination because l am a member of the Instltute of Chartered Accountants in England and Wales, whith is one of the listed bodies. I have completed rny examination. I confirm that no matters have wme to my attention in connÈctlon wlth the examinatiori 8ivin8 me cause to believe th•t any material respe¢t=_ accountin8 records weTr kept in respect of the Company as required by sertion 386 of the 2(lJ6 Act; or the accounts do not accord wtth those records.. or the accounts do not comply with the accounting requirements of section 396 of the 2LK)6 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an Independent examination- or the accounts have not been prepared in accordance with the methods and prlnciples of the Statement of Recommended Practice for accountiri8 and ￿porting by charities lapplicable to chartties preparing their accounts in accordance with the Financial Reporti￿ Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across no other matters in connertion wfch the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Stuart Harrles FCA ACCA Independent Examiner Carr. Jenkins & Hood Redwood Court Tawe Business Village Swansea SA7 9LA Date.. li ## **`THE MAKERS GUILD IN WALES`** ## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021`** |`Unrestricted`
`Restricted`
`funds`
`funds`
`Notes`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
**`61,349`**
**`89,055`**
**`Charitable activities`**
`6`
`Gallery`
**`12,194`**
**`-`**
`Exhibition`
**`14,047`**
**`-`**
`Workshop`
**`944`**
**`-`**
`Other trading activities`
`4`
**`12,190`**
**`-`**
`Investment income`
`5`
**`31,142`**
**`-`**
`Other income`
`7`
**`47,260`**
**`-`**
**`Total`**
**`179,126`**
**`89,055`**
**`EXPENDITURE ON`**
`Raising funds`
`8`
**`11,063`**
**`-`**
**`Charitable activities`**
`9`
`Gallery`
**`44,070`**
**`89,453`**
`Exhibition`
**`-`**
**`28,592`**
`Workshop`
**`-`**
**`13,641`**
**`Total`**
**`55,133`**
**`131,686`**
**`NET INCOME/(EXPENDITURE)`**
**`123,993`**
**`(42,631)`**
**`Transfers between funds`**
`21`
**`(42,631)`**
**`42,631`**
**`Net movement in funds`**
**`81,362`**
**`-`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`47,798`**
**`-`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`129,160`**
**`-`**|**`2021`**
**`Total`**
**`funds`**
**`£`**
**`150,404`**
**`12,194`**
**`14,047`**
**`944`**
**`12,190`**
**`31,142`**
**`47,260`**
**`268,181`**
**`11,063`**
**`133,523`**
**`28,592`**
**`13,641`**
**`186,819`**
**`81,362`**
**`-`**
**`81,362`**
**`47,798`**
**`129,160`**|`2020`
`Total`
`funds`
`£`
`68,237`
`14,787`
`4,432`
`4,248`
`49,466`
`33,382`
`13,699`| |---|---|---| |||`188,251`
`8,700`
`127,082`
`24,224`
`14,495`| |||`174,501`| |||`13,750`
`-`| |||`13,750`
`34,048`| |||`47,798`| ``` The notes form part of these financial statements ``` ``` 12 ``` ## **`THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888)`** ## **`BALANCE SHEET`** ## **`30 JUNE 2021`** |`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`16`
**`CURRENT ASSETS`**
`Stocks`
`17`
`Debtors`
`18`
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`19`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`ACCRUALS AND DEFERRED INCOME`**
`20`
**`NET ASSETS/(LIABILITIES)`**
**`FUNDS`**
`21`
`Unrestricted funds:`
`General fund`
`Designated investment fund`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
**`1,068,703`**
**`16,095`**
**`38,605`**
**`115,083`**
**`169,783`**
**`(85,706)`**
**`84,077`**
**`1,152,780`**
**`(1,023,620)`**
**`129,160`**|`Restricted`
`funds`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`2021`**
**`Total`**
**`funds`**
**`£`**
**`1,068,703`**
**`16,095`**
**`38,605`**
**`115,083`**
**`169,783`**
**`(85,706)`**
**`84,077`**
**`1,152,780`**
**`(1,023,620)`**
**`129,160`**
**`74,160`**
**`55,000`**
**`129,160`**
**`129,160`**|`2020`
`Total`
`funds`
`£`
`1,079,907`
`20,591`
`59,746`
`61,737`
`142,074`
`(137,926)`
`4,148`
`1,084,055`
`(1,036,257)`
`47,798`
`47,798`
`-`
`47,798`
`47,798`| |---|---|---|---|---| ``` The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year ended 30 June 2021. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006. ``` ``` The trustees acknowledge their responsibilities for ``` - `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and` - `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.` ``` The notes form part of these financial statements ``` ``` continued... ``` ``` 13 ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 056088881 BALANCE SHEEf- wntinyed 30JUNE 2021 These financial statements have been prepared in accordance with the provisions applicable to charitable cornpanies subject to the small companies re8ime. The financial statements were approved by the Board of Tru5tee5 and auth0ri5ed for i55ue .. and were signed on its behalf ￿. on GPur l-Jones- Trustee The notes fom part of these financial ststements 14 ``` THE MAKERS GUILD IN WALES ``` ``` NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ``` ## **`1. STATUTORY INFORMATION`** ``` TheMakersGuildInWalesisaprivatecompany,limitedbyguaranteewithoutsharecapital,registered in England and Wales. The registered office address can be found in the report of the trustees. ``` ## **`2. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ``` ``` The Makers Guild In Wales meets the definition of a public benefit entity under FRS 102. ``` ``` TheGuildreviewsthecharity'sforecasts,budgetprojectionsandworkingcapitalrequirementsat regular trusteeandFinanceCommitteemeetingsthroughouttheyear.Thetrusteesthereforehavea reasonable expectationthatthecharityhasadequateresourcestocontinueinoperationalexistenceforthe foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. ``` ## **`Financial reporting standard 102 - reduced disclosure exemptions`** ``` Thecharitablecompanyhastakenadvantageofthefollowingdisclosureexemptionsinpreparing these financialstatements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUK and Republic of Ireland': ``` - `the requirements of Section 7 Statement of Cash Flows.` ## **`Income`** ``` Incomeisrecognisedwhenthecharityhasentitlementtothefunds,anyperformanceconditionsattached to theincomehavebeenmet,itisprobablethattheincomewillbereceivedandtheamountcanbe measured reliably. ``` ``` Donations and voluntary income are accounted for when receivable. ``` ``` Incomefromgovernmentandothergrants,whether'capital'or'revenue'grants,isrecognisedwhen the charityhasentitlementtothefunds,anyperformanceconditionsattachedtothegrantshavebeenmet,it is probable that the income will be received and the amount can be measured reliably and is not deferred. ``` ``` Intereston funds held on depositis includedwhen receivableand the amountcan be measuredreliablyby the charity; this is normally upon notification of the interest paid or payable by the Bank. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement and the amount of the obligation can be measured reliably. ``` ``` Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all costrelatedtothecategory.Wherecostscannotbe directlyattributedtoparticularheadingstheyhave been allocated to activities on a basis consistent with the use of resources. ``` ``` continued... ``` ``` 15 ``` ``` THE MAKERS GUILD IN WALES ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 ``` ## **`2. ACCOUNTING POLICIES - continued`** ## **`Allocation and apportionment of costs`** ``` Costsareallocatedbetweendirectcharitableandsupportexpenditureaccordingtothenatureofthe cost. Whereitemsinvolvemorethanonecategorytheyareapportionedbetweenthecategoriesona basis consistent with the use of resources. ``` ## **`Tangible fixed assets`** ``` Tangiblefixedassets otherthanfreeholdlandare statedat cost less depreciation.Depreciationis provided at rates calculatedto write off the cost less estimatedresidualvalue of each asset over its expectedusefullife, as follows: ``` |`Freehold land`|`Freehold land is not depreciated`| |---|---| |`Freehold property`|`123 years straight line`| |`Plant and machinery`|`5 years straight line`| |`Fixtures, fittings and equipment`|`5 to 10 years straight line`| ## **`Stocks`** ``` Stocksconsistsofcards,magazines,booksandvideosandarevaluedatthelowerofcostandnet realisable value. ``` ## **`Taxation`** ``` The charity is exempt from Corporation Tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds may be used in accordance with the charitable objectives, at the discretion of the trustees. ``` ``` Restrictedfundsmayonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ## **`Pension costs and other post-retirement benefits`** ``` Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesintheperiod to which they relate. ``` ## **`Debtors`** ``` Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranytradediscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ``` ## **`Cash at bank and in hand`** ``` Cashatbankandinhandincludescashandashorttermdepositaccountthataresubjecttoan insignificant risk to changes in value. ``` ## **`Creditors and provisions`** ``` Creditorsandprovisionsare recognisedwhere the charityhas a presentobligationresultingfrom a past event thatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountduetosettlethe obligation canbemeasuredorestimatedreliably.Creditorsandprovisionsarenormallyrecognisedattheir settlement amount after allowing for any trade discounts due. ``` ``` continued... ``` ``` 16 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`2. ACCOUNTING POLICIES - continued`** ## **`Financial instruments`** ``` The charityonlyhas financialassets and financialliabilitiesof a kindthat qualifyas basic financial instruments. Basicfinancialinstrumentsareinitiallyrecognisedattransactionvalueandsubsequentlymeasuredat their settlement value. ``` ## **`3. DONATIONS AND LEGACIES`** |**`DONATIONS AND LEGACIES`**||| |---|---|---| |`Grants`
`Deferred income released`|**`2021`**
**`£`**
**`140,551`**
**`9,853`**
**`150,404`**|`2020`
`£`
`58,384`
`9,853`| |||`68,237`| ``` Incomefromdonationsandlegacieswas£150,404(2020;£68,237)ofwhich£89,055(2020;£31,203) was attributable to restricted funds and £61,349 (2020; £37,034) was attributable to unrestricted funds. ``` ``` Grants received and released in the year, included in the above, are as follows: ``` ||`2021`|`2020`| |---|---|---| ||`£`|`£`| |||| |`Energy efficiency project`|`170`|`170`| |`Solar Panels`|`1,881`|`1,881`| |`Garfield Weston Foundation`|`25,000`|`5,000`| |`Heritage Lottery Fund Resilience Project`|`8,358`|`25,327`| |`Community Foundation in Wales`|`5,000`|`3,825`| |`G & M Davies Trust`|`-`|`1,000`| |`Oakdale Trust`|`-`|`500`| |`Moondance Foundation`|`-`|`15,000`| |`Arts Council of Wales Emergency Funding`|`24,996`|`5,681`| |`Heritage Lottery Fund Emergency Funding`|`40,000`|`-`| |`The Gibbs Trust`|`1,500`|`-`| |`Arts Council of Wales Cultural Recovery Fund`|`33,646`|`-`| |||| ||`140,551`|`58,384`| |||| ``` continued... ``` ``` 17 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`4. OTHER TRADING ACTIVITIES`** |`Fundraising events`
`Gallery income`
**`5.`**
**`INVESTMENT INCOME`**
`Rents received`
`Room rental income`
`Deposit account interest`
**`6.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
`Activity`
`Members fees`
`Gallery`
`Selection fees`
`Gallery`
`Exhibition`
`Exhibition`
`Workshop`
`Workshop`
**`7.`**
**`OTHER INCOME`**
`Electricity feed in tariff`
`Government financial assistance COVID grant`
`HMRC Job Retention Scheme`
`Insurance claim`
`Cardiff Council Restriction Business Fund grant`
`Welsh Government Sector Specific Fund grant`|**`2021`**
**`£`**
**`1,408`**
**`10,782`**
**`12,190`**
**`2021`**
**`£`**
**`26,600`**
**`4,534`**
**`8`**
**`31,142`**
**`2021`**
**`£`**
**`11,994`**
**`200`**
**`14,047`**
**`944`**
**`27,185`**
**`2021`**
**`£`**
**`1,865`**
**`8,333`**
**`13,811`**
**`751`**
**`15,000`**
**`7,500`**
**`47,260`**|`2020`
`£`
`6,521`
`42,945`| |---|---|---| |||`49,466`| |||`2020`
`£`
`26,900`
`6,450`
`32`| |||`33,382`| |||`2020`
`£`
`14,787`
`-`
`4,432`
`4,248`| |||`23,467`| |||`2020`
`£`
`2,382`
`1,667`
`9,650`
`-`
`-`
`-`| |||`13,699`| ``` continued... ``` ``` 18 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`8. RAISING FUNDS`** ## **`Other trading activities`** |`Purchases`
`Bad debts`
`Advertising`|**`2021`**
**`£`**
**`5,989`**
**`597`**
**`4,477`**
**`11,063`**|`2020`
`£`
`6,550`
`1,017`
`1,133`| |---|---|---| |||`8,700`| ## **`9. CHARITABLE ACTIVITIES COSTS`** |`Gallery`
`Exhibition`
`Workshop`|`Direct`
`Costs`
`£`
**`44,961`**
**`28,592`**
**`13,641`**
**`87,194`**|`Support`
`costs (see`
`note 10)`
`£`
**`88,562`**
**`-`**
**`-`**
**`88,562`**|`Totals`
`£`
**`133,523`**
**`28,592`**
**`13,641`**| |---|---|---|---| ||||**`175,756`**| ``` £131,686(2020;£69,596)of the abovecostswere attributableto restrictedfunds.£44,070(2020;£96,205) of the above costs were attributable to unrestricted funds. ``` ## **`10. SUPPORT COSTS`** |**`SUPPORT COSTS`**|||| |---|---|---|---| |||`Governance`|| ||`Management`|`costs`|`Totals`| ||`£`|`£`|`£`| |`Gallery`|**`59,438`**|**`29,124`**|**`88,562`**| |`Support costs, included in the above, are as follows:`|||| |**`Management`**|||| |||**`2021`**|`2020`| ||||`Total`| |||`Gallery`|`activities`| |||**`£`**|`£`| |`Wages`||**`42,143`**|**`38,349`**| |`Pensions`||**`2,349`**|**`1,726`**| |`Rates and water`||**`293`**|**`3,132`**| |`Insurance`||**`2,765`**|**`3,785`**| |`Light and heat`||**`2,204`**|**`4,287`**| |`Telephone`||**`240`**|**`400`**| |`Postage and stationery`||**`645`**|**`616`**| |`Sundry expenses`||**`1,725`**|**`2,846`**| |`Carried forward`||**`52,364`**|**`55,141`**| ``` continued... ``` ``` 19 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`10. SUPPORT COSTS - continued`** ## **`Management - continued`** |`Brought forward`
`Bank charges`
`Credit card charges`
`Repairs and maintenance`
`Depreciation of tangible and heritage assets`
**`Governance costs`**
`Wages`
`Pensions`
`Independent examiners remuneration`
`Rates and water`
`Insurance`
`Light and heat`
`Telephone`
`Postage and stationery`
`Legal and professional fees`
`Sundry expenses`
`Repairs and maintenance`
`Depreciation of tangible fixed assets`
`Bank charges`
`Credit card charges`|**`2021`**
`2020`
`Total`
`Gallery`
`activities`
**`£`**
`£`
**`52,364`**
**`55,141`**
**`236`**
**`323`**
**`440`**
**`889`**
**`2,314`**
**`1,799`**
**`4,084`**
**`5,689`**
**`59,438`**
**`63,841`**
**`2021`**
`2020`
`Total`
`Gallery`
`activities`
**`£`**
`£`
**`17,740`**
**`15,358`**
**`841`**
**`714`**
**`3,500`**
**`3,500`**
**`137`**
**`1,682`**
**`1,303`**
**`2,033`**
**`1,037`**
**`2,303`**
**`114`**
**`214`**
**`304`**
**`331`**
**`-`**
**`27`**
**`813`**
**`1,529`**
**`1,091`**
**`966`**
**`1,925`**
**`3,057`**
**`112`**
**`173`**
**`207`**
**`477`**
**`29,124`**
**`32,364`**| |---|---| ``` continued... ``` ``` 20 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`11. NET INCOME/(EXPENDITURE)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||**`2021`**|`2020`| |---|---|---| ||**`£`**|`£`| |`Independent examiners remuneration`|**`3,500`**|`3,500`| |`Depreciation - owned assets`|**`13,345`**|`12,915`| ## **`12. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended30June2021norforthe year ended 30 June 2020. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020. ``` ## **`13. STAFF COSTS`** |`Wages and salaries`
`Other pension costs`|**`2021`**
**`£`**
**`104,875`**
**`5,003`**
**`109,878`**|`2020`
`£`
`93,427`
`4,062`| |---|---|---| |||`97,489`| ``` The average monthly number of employees during the year was as follows: ``` |`Management`
`Gallery, exhibition and workshop`
`Administration`|**`2021`**
**`1`**
**`5`**
**`1`**
**`7`**|`2020`
`1`
`5`
`1`| |---|---|---| |||`7`| ``` No employees received emoluments in excess of £60,000. ``` ``` Thekeymanagementpersonnelofthecharity,comprisethetrustees,generalmanager,artisticcurator and financeandmembershipmanager.Thetotalemployeebenefitsofthekeymanagementpersonnel were £87,529 (2020: £76,652). ``` ``` continued... ``` ``` 21 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** |**`14.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
`Unrestricted`
`Restricted`
`funds`
`funds`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`37,034`
`31,203`
**`Charitable activities`**
`Gallery`
`14,787`
`-`
`Exhibition`
`4,432`
`-`
`Workshop`
`4,248`
`-`
`Other trading activities`
`49,466`
`-`
`Investment income`
`33,382`
`-`
`Other income`
`13,699`
`-`
**`Total`**
`157,048`
`31,203`
**`EXPENDITURE ON`**
`Raising funds`
`8,700`
`-`
**`Charitable activities`**
`Gallery`
`96,205`
`30,877`
`Exhibition`
`-`
`24,224`
`Workshop`
`-`
`14,495`
**`Total`**
`104,905`
`69,596`
**`NET INCOME/(EXPENDITURE)`**
`52,143`
`(38,393)`
**`Transfers between funds`**
`(38,393)`
`38,393`
**`Net movement in funds`**
`13,750`
`-`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`34,048`
`-`
**`TOTAL FUNDS CARRIED FORWARD`**
`47,798`
`-`|`Total`
`funds`
`£`
`68,237`
`14,787`
`4,432`
`4,248`
`49,466`
`33,382`
`13,699`| |---|---| ||`188,251`
`8,700`
`127,082`
`24,224`
`14,495`| ||`174,501`| ||`13,750`
`-`| ||`13,750`
`34,048`| ||`47,798`| ``` continued... ``` ``` 22 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`15. INDEPENDENT EXAMINERS REMUNERATION`** |`Examination and preparation of the financial statements`
**`16.`**
**`TANGIBLE FIXED ASSETS`**
`Freehold`
`property`
`£`
**`COST`**
`At 1 July 2020`
**`1,240,381`**
`Additions`
**`-`**
`At 30 June 2021`
**`1,240,381`**
**`DEPRECIATION`**
`At 1 July 2020`
**`173,709`**
`Charge for year`
**`10,084`**
`At 30 June 2021`
**`183,793`**
**`NET BOOK VALUE`**
`At 30 June 2021`
**`1,056,588`**
`At 30 June 2020`
`1,066,672`
**`17.`**
**`STOCKS`**
`Goods for resale`
**`18.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Other debtors`
`Prepayments`|`Examination and preparation of the financial statements`
**`16.`**
**`TANGIBLE FIXED ASSETS`**
`Freehold`
`property`
`£`
**`COST`**
`At 1 July 2020`
**`1,240,381`**
`Additions`
**`-`**
`At 30 June 2021`
**`1,240,381`**
**`DEPRECIATION`**
`At 1 July 2020`
**`173,709`**
`Charge for year`
**`10,084`**
`At 30 June 2021`
**`183,793`**
**`NET BOOK VALUE`**
`At 30 June 2021`
**`1,056,588`**
`At 30 June 2020`
`1,066,672`
**`17.`**
**`STOCKS`**
`Goods for resale`
**`18.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Other debtors`
`Prepayments`|||`2021`||`2020`| |---|---|---|---|---|---|---| |||||`£`||`£`| |||||`3,500`||`3,500`| |||||||| |||||`3,500`||`3,500`| |||||||| |||`Plant and`
`machinery`
`£`
**`23,807`**
**`-`**
**`23,807`**
**`10,716`**
**`2,784`**
**`13,500`**
**`10,307`**
`13,091`||`Fixtures`
`and`
`fittings`
`£`
**`78,391`**
**`2,142`**
**`80,533`**
**`78,248`**
**`477`**
**`78,725`**
**`1,808`**
`143`
**`2021`**
**`£`**
**`16,095`**
**`2021`**
**`£`**
**`24,814`**
**`3,365`**
**`10,426`**
**`38,605`**|`Totals`
`£`
**`1,342,579`**
**`2,142`**
**`1,344,721`**
**`262,673`**
**`13,345`**
**`276,018`**
**`1,068,703`**
`1,079,906`
`2020`
`£`
`20,591`
`2020`
`£`
`9,956`
`40,736`
`9,054`
`59,746`|| |||||||| |||||||| |||||||| |||||||| |||||||| |||||||| ``` continued... ``` ``` 23 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |**`19.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||| |---|---|---|---| |`Trade creditors`
`VAT`
`Other creditors`
`Deferred income`
`Accrued expenses`
`Deferred government grants`
**`20.`**
**`ACCRUALS AND DEFERRED INCOME`**
`Deferred income`
`Deferred government grants`|**`2021`**
**`£`**
**`9,386`**
**`6,179`**
**`17,616`**
**`17,333`**
**`25,339`**
**`9,853`**
**`85,706`**
**`2021`**
**`£`**
**`8,083`**
**`1,015,537`**
**`1,023,620`**|`2020`
`£`
`22,929`
`7,289`
`9,128`
`83,180`
`5,547`
`9,853`
`137,926`
`2020`
`£`
`10,867`
`1,025,390`|`2020`
`£`
`22,929`
`7,289`
`9,128`
`83,180`
`5,547`
`9,853`| ||||`137,926`| |||`1,036,257`|| ``` Deferredgovernmentgrantsaregrantsawardedforthepurposeofpurchasingthecharity'spremises. The grant is treated as deferred income and amortised over the life of the corresponding assets. ``` ``` Deferredincomeconsistsofincomeandothergrantsreceived.Grantsandotherincomeforspecific assets such as the solar panels and the kiln will be released over the useful life of the corresponding asset. ``` ``` Grants in respect of the charity's costs will be released when the expenditure has been incurred. ``` ## **`21. MOVEMENT IN FUNDS`** |**`MOVEMENT IN FUNDS`**|||||| |---|---|---|---|---|---| ||||`Net`|`Transfers`|| ||||`movement`|`between`|`At`| ||`At 1.7.20`||`in funds`|`funds`|`30.6.21`| ||`£`||`£`|`£`|`£`| |**`Unrestricted funds`**|||||| |`General fund`|**`47,798`**||**`123,993`**|**`(97,631)`**|**`74,160`**| |`Designated investment fund`||**`-`**|**`-`**|**`55,000`**|**`55,000`**| ||**`47,798`**||**`123,993`**|**`(42,631)`**|**`129,160`**| |**`Restricted funds`**|||||| |`Exhibition`||**`-`**|**`(28,592)`**|**`28,592`**|**`-`**| |`Workshop`||**`-`**|**`(13,641)`**|**`13,641`**|**`-`**| |`Gallery`||**`-`**|**`(398)`**|**`398`**|**`-`**| |||**`-`**|**`(42,631)`**|**`42,631`**|**`-`**| |**`TOTAL FUNDS`**|**`47,798`**||**`81,362`**|**`-`**|**`129,160`**| ``` continued... ``` ``` 24 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`21. MOVEMENT IN FUNDS - continued`** ``` Net movement in funds, included in the above are as follows: ``` ||||`Incoming`|`Resources`|`Movement`| |---|---|---|---|---|---| ||||`resources`|`expended`|`in funds`| ||||`£`|`£`|`£`| |**`Unrestricted funds`**|||||| |`General fund`|||**`179,126`**|**`(55,133)`**|**`123,993`**| |**`Restricted funds`**|||||| |`Exhibition`|||**`-`**|**`(28,592)`**|**`(28,592)`**| |`Workshop`|||**`-`**|**`(13,641)`**|**`(13,641)`**| |`Gallery`|||**`89,055`**|**`(89,453)`**|**`(398)`**| ||||**`89,055`**|**`(131,686)`**|**`(42,631)`**| |**`TOTAL FUNDS`**|||**`268,181`**|**`(186,819)`**|**`81,362`**| |**`Comparatives for movement in funds`**|||||| ||||`Net`|`Transfers`|| ||||`movement`|`between`|`At`| ||`At 1.7.19`||`in funds`|`funds`|`30.6.20`| ||`£`||`£`|`£`|`£`| |**`Unrestricted funds`**|||||| |`General fund`|`34,048`||`52,143`|`(38,393)`|`47,798`| |**`Restricted funds`**|||||| |`Exhibition`||`-`|`(24,224)`|`24,224`|`-`| |`Workshop`||`-`|`(10,670)`|`10,670`|`-`| |`Gallery`||`-`|`(3,499)`|`3,499`|`-`| |||`-`|`(38,393)`|`38,393`|`-`| |**`TOTAL FUNDS`**|`34,048`||`13,750`|`-`|`47,798`| ``` continued... ``` ``` 25 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`21. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Exhibition`
`Workshop`
`Gallery`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`157,048`
`(104,905)`
`52,143`
`-`
`(24,224)`
`(24,224)`
`3,825`
`(14,495)`
`(10,670)`
`27,378`
`(30,877)`
`(3,499)`
`31,203`
`(69,596)`
`(38,393)`
`188,251`
`(174,501)`
`13,750`| |---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` ||||`Net`|`Transfers`|| |---|---|---|---|---|---| ||||`movement`|`between`|`At`| ||`At 1.7.19`||`in funds`|`funds`|`30.6.21`| ||`£`||`£`|`£`|`£`| |**`Unrestricted funds`**|||||| |`General fund`|`34,048`||`176,136`|`(136,024)`|`74,160`| |`Designated investment fund`||`-`|`-`|`55,000`|`55,000`| ||`34,048`||`176,136`|`(81,024)`|`129,160`| |**`Restricted funds`**|||||| |`Exhibition`||`-`|`(52,816)`|`52,816`|`-`| |`Workshop`||`-`|`(24,311)`|`24,311`|`-`| |`Gallery`||`-`|`(3,897)`|`3,897`|`-`| |||`-`|`(81,024)`|`81,024`|`-`| |**`TOTAL FUNDS`**|`34,048`||`95,112`|`-`|`129,160`| ``` continued... ``` ``` 26 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021`** ## **`21. MOVEMENT IN FUNDS - continued`** ``` A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Exhibition`
`Workshop`
`Gallery`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`336,174`
`(160,038)`
`176,136`
`-`
`(52,816)`
`(52,816)`
`3,825`
`(28,136)`
`(24,311)`
`116,433`
`(120,330)`
`(3,897)`
`120,258`
`(201,282)`
`(81,024)`
`456,432`
`(361,320)`
`95,112`| |---|---| ``` Restricted funds are grants received for specific charitable objectives. ``` ## **`22. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 30 June 2021. ``` ## **`23. ULTIMATE CONTROLLING PARTY`** ``` The ultimate controlling party is the board of trustees. ``` ``` 27 ```