``` REGISTERED COMPANY NUMBER: 05608888 (England and Wales) REGISTERED CHARITY NUMBER: 1113675 ``` ## **`THE MAKERS GUILD IN WALES`** ## **`REPORT OF THE TRUSTEES AND`** ## **`FINANCIAL STATEMENTS`** ``` FOR THE YEAR ENDED 30 JUNE 2022 ``` ``` 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 2022 ``` ||**`Page`**| |---|---| |**`Report of the trustees`**|`1 to 11`| |**`Independent examiner's report`**|`12`| |**`Statement of financial activities`**|`13`| |**`Balance sheet`**|`14 to 15`| |**`Notes to the financial statements`**|`16 to 29`| ## **`THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report with the financialstatementsof the charityfor the year ended 30 June 2022. The trustees have adoptedthe provisions of AccountingandReportingby Charities:Statementof RecommendedPracticeapplicableto charitiespreparing their accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(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 90 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 38 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 2022`** ## **`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. ``` ``` Duringthisyear,theGuildcelebratedits20thAnniversarysincemovingintoitspresenthomeinCraftintheBay in June2002,havingraised£1.4milliontorestore,reconstructandextendthe"DShed",aGradeIIlisted Landmark 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. ``` ``` 2 ``` ## **`THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888)`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022`** ``` Our last year in numbers... ``` ``` 44,009 people visited our Gallery 19,975 pop up shop visitors 47,975 page views (18,121 unique visits) 18,495 online shop sessions 4,116 followers on Twitter 4,511 follows on Facebook 4,018 followers on Instagram 46 TikTok 849 views on YouTube 1,404 took part in our craft workshops and community programmes and artist talks ``` ``` 2,037 people purchased craft and craft workshops, in person and online 533 days given to the organisation by our amazing volunteers! 94 craft-makers in our membership 85 'Friends of the Makers Guild' ``` ``` We've welcomed 1,263,915 visitors since we opened in June 2002 ``` ``` We are grateful to all of those who engage with us in whatever format, platform or experience. ``` ## **`Programme highlights`** ## **`Educational Exhibition programmes`** ``` The MakersGuildinWaleswas ableto scheduleexhibitionsthrough2021into2022,whichcame as a reliefafter the previous year's severe disruption due to COVID. ``` ``` Makers Guild exhibitions during this period: ``` ## **`Stone - The Carved Form`** ## **`July 2021`** ``` AnexhibitioncelebratingtheextraordinarycraftsmanshipincontemporarystonesculptureintheUK.Paul Mitchell hasinvitedfellowstonecarverstoshowrecentworkthatreflectstheirindividualsculpturepractice.Givingeach of them a sizerestriction,the pieces have been selectedto show carvingin differentstones,illustratingbothrelief work and carving in three dimensions. ``` ``` "Wehavechosenartistswhoworkinavarietyofdifferentstones,includingslate,limestoneandalabaster-in both figurativeandabstractoutcomes.Theinherentqualitiesofthestone;itstranslucency,reflection,absorptionof light, uncovered through the mastery of carving and finish." - Paul Mitchell ``` ``` ThoughCOVID restrictionswere still in place,The Carved Form was well received by visitors.People made special trips to see the work. Five stone carvers exhibiting.Two carvingdemonstrationsran as free events for the public- thanks to Meic Watts and Paul Mitchell for this. ``` ## **`Tidal Echoes and Gardens of the Mind`** ## **`August/September 2021`** ``` ExhibitionofceramicsculpturebyguildmemberBeverleyBellHughesandofglassworkbyguildmember Verity Pulford.BothexhibitionslaunchedatRuthinCraftCentre.VerityPulford'slatestprojectGardensoftheMind has been fundedby the Arts Councilof Wales andinvestigatesthe visualandphysicalcorrelationbetweenstructures and micro-structureswithinplantandhumanbiology.TheprojectwasinspiredbyVerity'stimespentasArtist in Residence at The WaltonNeurologicalCentre In Liverpool,as part of The BluecoatDisplayCentre's Outreach Program. ThejourneythisprojecthastakenVerityonhasbeentransformationaltoherpractice.Influencesinclude Ramon Cahal's early drawings, plant collections at Bangor University Herbarium and Anna Atkins cyanotypes. ``` ``` 3 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022`** ``` GardensoftheMindhasbeensupportedbyTheArtsCouncilofWalesandRuthinCraftCentre.Veritywouldlike to thankBangorUniversity,TheWaltonCentreandTheBluecoatDisplayCentre.AlsoAmandaSimmonsGlass Artist, Rhian Haf and Kirsti Brown for their technical advice and mentor support. ``` ``` TidalEchoesisdisplayedinthegalleryalongsidefellowguildmemberVerityPulfordwhoisexhibitingher stunning collection of contemporary glass - also a Ruthin Craft Centre initiated exhibition. ``` ``` BeverleyBellHugheshasbeenamemberoftheGuildsince1992andhasexhibitednationallyand internationally, havingworkin manyprivateandpublicart collections.In 2019 she was awardedthe prestigiousGoldMedalfor Craft attheNationalEisteddfodd.Beverleyworksfromherhomethatisideallyplacedjustfiveminutesdrivefrom Conwy Bay-theinspirationforhersculpturalceramics.Thetidalmarksleftbytherecedingsea,thebarnacled shrouded bouldersandbeechcombedshellsandpebblesobservedonherdailywalks,becometranslatedintosculptural forms through her skillfull manipulation of the clay. ``` ``` Bothexhibitionsreceivedpositivefeedbackfromourvisitorsandhadgoodsales.Exhibitionopeningwasa low-key event due to restrictions on numbers to the gallery. ``` ## **`BAMS Student Medals Exhibition`** ## **`Ending 31 October 2021`** ``` Weweredelightedtobehostingthisexhibitionofartmedalsdesignedandcreatedbystudentsfromart colleges acrosstheUK,includingacademiesinItalyandBulgaria,alongsideasmallselectionofcontemporarymedals by professional makers, commissioned by the British Art Medal Society. ``` ``` TheannualStudentMedalProject,nowinits28thyear,wasestablishedtoreintroducetheartofthemedalto art colleges,suggestingthemesfortheirresearchanddesignprocess.Theexhibitionincludesmedalsselectedfrom the Project in 2020 and 2021. ``` ``` Theoptionalthemefor2020wasEndangeredSpeciesfromtheRedList.Eachmedalhasadesignfrontand back (obverse and reverse), and the students worked from design to complete their cast bronze medals, as shown here. ``` ``` The winningmedals and designsfor this year's Projecthave recentlybeen judged,and the suggestedtheme was Black ArtMatters.Researchonthisthemeincludedhistoricblackart,as wellas painting,sculpture,weaving,ceramics, the cinemaandliterature,andstudentsinvestigatedtheseareasfromthebeginningoftheacademicyear.A greater understandingandappreciationoftheimportanceandtheinfluenceofblackarthasledtosomewonderful medals and also designs.Due to the lockdownat colleges,the Project was widened to includeacategoryof Design/Prototype so thatas manystudentscouldparticipateas possible.Notsurprisingly,a numberof studentsalsocreatedwork that reflectedhowtheyfeltaboutisolationduringthisyear.Thisyear74castmedalsfrom14differentUKcolleges have been made, as well as over 30 medal designs. ``` ``` TheBritishArtMedalSocietyhascommissionedmedalsfrommanydistinguishedcontemporarysculptors, glass engravers,jewellers,cartoonistsandpoetsamongmanyothercreativepractitioners.TheGoldsmiths'Centre, the WorshipfulCompanyof Founders,the WorshipfulCompanyof Tin Plate Workers alias Wire Workers,Thomas Fattorini LtdareamongtheinstitutionsthatsupporttheStudentMedalProject;andtheBritishMuseumhas purchased particularly meritorious student medals. ``` ``` A fabulousexhibitionof contemporarydesigns,mostly cast in bronze and created by studentsfrom universities across the UK. A BritishArtistMedal Societyannualproject(BAMS), The Directorof the BAMS StudentMedalProject, Marcy LeavittBournecame to the galleryto see the exhibitionandgave a shorttalkaboutthe project(filmedand available on YouTube).Very positivefeedbackfrom her and BAMS. Currentstudentsof Art & Designhave visited the exhibition including from Coleg Sir Gar, Cardiff School of Art. ``` ``` ArtistMaureenO'KaneranaclaymodellingandplastercastworkshopforvolunteersandFriendsoftheGuild. Lisa MarieTannandourstaffranmedaldesignworkshopswithYr 5 pupilsfromMountStuartPrimary.24 children. Their work has been on display in the foyer. ``` ``` 4 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022`** ## **`A Festive Feast - our Christmas Show`** ## **`Until 9 January 2022`** ``` Craft designed and made by members of the Makers Guild Wales and Guest Artists. Especially curated for Christmas. ``` ## **`Pattern, Line and Form - A Celebration of Contemporary Craft Practice from Queen Elizabeth Scholarship Trust (QEST) Artists and Makers`** ## **`22 January 2022 - 20 March 2022`** ``` CuratedbyQESTScholarAmbassadorandMakersGuildWalesmemberLauraThomas,thisexhibition of contemporarycraftsbyelevenQESTScholarsoffersavisualfeastofeye-catchingpattern,lineandform-from the undulatingcarvedwoodformsofPhilipWalkertoGordonRobertson'setchedandspunpewterbowlsand the ethereal core-cast glass sculptures of Joanna Manousis to Yeena Yoon's architecturally influenced jewellery. ``` ``` Createdfroma varietyof materialsincludingpewter,willow,stone,silver,glassandporcelain,theworksonshow all shareafocusonpattern,lineandform.TheyincludetheprecisegeometricstonecarvingsofZoeWilsonand the multi-layeredscreenprintsofJessieHigginsonwhichexploretherhythmofpatternandthemeditativenature of repetition. ``` ``` Severalof the scholarspresentworkswithWelshconnections.QEST Tom Helme Scholar,CeliaDowson,exhibits glass piecesfromherRhossilicollection,inspiredbytheGowerPeninsula.Herworkismotivatedbythecolours, changing light and wild landscape of the area and informed by the movement and flux of the natural world. ``` ``` QESTWinchDesignScholarNicoConticreatesbeautifullyintricate3-Dprintedporcelainobjects,andhis scholarship recently enabled him to spend time at Nantgarw, developing ways to incorporate the local clay into his 3D designs. ``` ``` CuratorLauraThomascomments,"QESTandtheMakersGuildWalesaretwoorganisationsthathavebeen so importanttomy professionalpracticeandso it'sbeena joytocuratethisexcitingexhibition.Pattern,Lineand Form are designfundamentalsfor manymakers,butfor the selectedQEST scholarsin thisexhibition,it's trulycoreto their practice.The diversityof materialmasteryis inspiring:thereis purityof form,precisionof line,andpoetryin pattern, with each maker demonstrating excellence in their craft." ``` ``` QEST CEO DeborahPocockcomments,"We're thrilledto be able to showcasethe diverse work of these QEST Scholars inCardiff,andhopetoraiseourprofileinthecountryoverthecomingyears.We'realwayslookingto support talented makers and we're keen to reach more living and working in Wales." ``` ``` TheQueenElizabethScholarshipTrust(QEST)supportsexcellenceinBritishcraftsmanshipbyfundingthe education oftalentedandaspiringcraftspeoplethroughtraditionalcollegecourses,vocationaltrainingorone-to-one learning withmastercraftspeople.AsacharityoftheRoyalWarrantHoldersAssociation,QESTwasestablishedin1990 to celebratethe 150th anniversaryof the Associationand the 90th birthdayof Queen Elizabeth,The Queen Mother. HRH The Prince of Wales is the charity'sPatronwith Vice Patronsthe Earl of Snowdonand the Marquessof Salisbury. Since 1990theTrusthasawarded£5milliontoover625craftspeople,workingacrossmorethan130craft disciplines including thatching, millinery, luthiery, enamelling, printmaking, textiles and more. ``` ## **`Flow - A stunning selected exhibition of contemporary glass by members of the Contemporary Glass Society 2 April 2022 - 29th May 2022`** ``` The ContemporaryGlass Society:2022 was a spectacularyear for the ContemporaryGlass Society(CGS). From humble beginnings25 years ago, it has grownover the years intoa thrivingand proactivesocietysupportinga membership of over1,000.2022isalsotheUNdesignatedInternationalYearofGlass,sothisisouropportunitytopromoteto the worldthegloriousmaterialthatwealllove.Tohighlightit'sanniversary,CGShostedanumberofonlineand live exhbitionsaroundtheUKplusrunningmonthlythemedeventsonlineincludingInternationalDays, talks, demonstrations. ``` ``` As partof these celebrations,The ContemporaryGlass Societyworkedin partnershipwith The Makers Guildin Wales. CGS members were invited to respond to the title FLOW. ``` ``` 5 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022`** ``` The FLOW of glass, of ideas, of creativity, of movement (e.g. physical in the making process, movement of material) FLOW - to move steadily and continuously in a current or stream. ``` ``` FLOWstate-beinginthezone,amentalstateinwhichapersonperforminganactivity(suchasmaking)is fully immersed, a feeling of hyper focus, intense, leading to a sense of ecstasy and clarity. ``` ## **`Our Community`** ``` Withourcooperativeroots,sharedvaluesandemphasisoneducation,wevalueworkingtogetherandof learning throughthe sharingof craft skills.We developand deliver communityarts projectsto affect positivechange.We want tousecrafteducationasatooltopromotelearninginajust,inclusive,peacefulandcreativesociety, where difference is welcomed and participation is valued. ``` ``` We currentlydothisthroughthedevelopmentof longtermcommunitypartnerships,as we feeltheseensure lasting and meaningful projects that grow as relationships develop. ``` ``` TheGuildhasgrownit'slongtermpartnershipswithit'saudiencesandcommunitypartners,specificallywith the ButetowncommunityheritagegroupTheCulturalandHeritageExchangeandYMCACardiffYoungCarers,both of whomtheGuildhasworkedwithovermanyyears,deliveringmeaningfulcarefullyconsideredandfuncraft learning experiences for those taking part. ``` ``` MGWPopUpShopinStDavid's,Cardiff-audiencesduringthepandemicdroppedsuddenly,andare slowly returning,howeverwedecidedtotakecraftoutofthetraditionalgalleryspaceandintoanareaofhighnon arts footfall.The Pop up was situatedin the heart of one of the UK's largestretailcentres.Beginningin late November and continuingintomidJanuary,theprojectwasimpactedbytheunexpectedarrivalofthe'Omicron'variant in December,whichadverselyaffectedfootfall,howeverfeedbackwasoverwhelminglypositiveandsignificant new audiences were reached, a total of 19,975 visited. ``` ``` -FromtheMakerswhotookpart"Thankyoutoallthemakermembers,staffandvolunteersthathaveworked so hardtomakeithappen,particularlyworkingtheChristmasholidays.""Thankyoueveryoneformakingitsuch a success!" ``` ``` - Visitors "Shame it's a pop up, I love to visit every time I go to Cardiff..." "This should definitely be permanent" ``` ``` - Funder"I am pleasedit was a success.I calledin a coupleof times andwas impressedby the rangeof products and how well you used the space." ``` ``` - St David's 2 "Hope that you have had a good experiencewith the Pop up in St Davids. It has been a pleasure working with you and h ope you have enjoyed the time trading in St Davids." ``` ## **`Young Carers Summer Craft Project`** ``` This year we worked again with YMCA CardiffYoung Carers, throughtheir 'TIME 4 ME' Young Carers Project.The 'Time 4 Me' projectprovidessupportand a break for YoungCarers;a chanceto meet other YoungCarers;make new friends andhavesomefunacrossCardiffandtheVale.YoungCarersarechildrenandyoungpeople7to18yearsold who helpcare for a familymember who lives withthem.The familymember couldbe experiencingdifficultieswithone or more of the following: disability, illness, mental health issues and drug and alcohol issues. ``` ``` The Guildhasidentifiedthatby givingyoungcarerstheserespitecraftsessions- the youngcarershavetime to enjoy learning craft skills, which then lead to improved opportunities to develop and make new friends. ``` ## **`Audiences/Digital`** ``` The Guild,as well as othersin the wider sector,are facingdramaticchangesto physicalaudience/visitorpatterns, and thereforeitmustbetterunderstandit'scurrentaudiences.As a resultofCOVID19,audiencesandthewaythat they couldtobepredictedhavealtered,areluctanceorinabilitytoattendartsevents(e.g.fewerinternational tourists, morelocalvisitors),astheGuild'sgallery,CraftintheBayisinoneofthemostculturallydiverseareasof Wales, (Butetown)howeverthoughinformationonnumbersisaccuratelyrecorded,littleinformationonthebreakdown of audienceswas done. The Guild'sfastest growingaudiencesare online,this growthis being matchedwith an increased commitmentbytheGuild,withmorestafftimeandfundscommittedtosocialmedia,ouronlineshopand the understanding of digital audiences too. ``` ``` 6 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022`** ## **`Butetown Heritage Community Project`** ``` ContinuingourworkwithTheHeritageandCulturalExchange.Acommunitybasedorganisationthataimsto fully chroniclethe heritagetogetherwith the culturaldiversityof Tiger Bay and CardiffDocklandsand bringit to the world. Withintheir archive is a wonderfulhistoricrecord of our uniqueLandmarkHeritageBuilding,Craft in the Bay, we used thisasathemeandinspirationforourartbasedcommunityproject,givingnewunderstandingofour Buildings Heritage and it's place within our community, Butetown. ``` ``` Togetherwe createdand launcheda new touchscreenwhich tells the rich historyof our uniqueHeritagebuilding, our localarea-Butetown,ourcommunityandsocialheritage,wealsoaddedcontentwhereaudiencescanlearn more about craft, our organisation and our makers. ``` ``` WealsousedthearchiveforacommunityartsprojectledbyKyleLegallinAugust2022-'WhereweusedtoPlay' - Localresidents,schoolsandmulti-generationalfamiliesfromButetowntookpartincreatingthewonderfulart work, inspiredby the archive of The Heritageand CulturalExchange,to create new, fresh interpretationsof what the archive photos meant to them. The work created through this project featured in an exhibition in August/September 2022. ``` ``` The Guild will continue its work in these areas in the next year. ``` ## **`Financial review`** ## **`Principal funding sources`** ``` CommissionsfromthesaleofMakerMembers'workdisplayedinthemainGalleryspace,rentalincomefrom the restaurantincomefromeducationalactivitiesandthelettingofmeetingroomsproducethebulkofthe Charity's income.TheongoingCOVID-19pandemicmeansthattheGuildhasdevelopedanewFundraisingStrategy which means the Grant Fundinghas now become a larger source of income,the plan is under constantreview and continues to evolve as the current situation progresses. ``` ``` Withrestrictionsbeingremovedoverthesummerof2021,saleshaveslowlystartedtoimprove,andasaresult the Guildisabletobuildonthisincomeoncemore.However,theGuildisacutelyawarethatdiversifyingits income streamsiskeytoitsongoingresilience.Thereforeindevelopingabalancedlongtermstrategy,theGuildwill 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. ``` ``` 7 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022`** ## **`Strategic report`** ## **`Financial review`** ## **`Review of finances`** ``` LockdownrestrictionsonceagainimpactedtheGuild'sabilitytotradeandwelcomevisitorstothegallery.Over the summer,restrictionswereeased,andbySeptember2021alloftheUKandWelshGovernmentsEmergency funding cametoanend.ThereforetheGuildhadplannedonincreasingfootfall,asvisitorsbegantoreturntothe 'new normal'.Initiallythe Guildmanagedto incrementallybuildfootfallandthereforeincomeduringthisperiod, however, thearrivalofthe'Omicron'variantinDecemberdidhaveadramaticeffect,significantlylowerfootfallinwhat is usuallythebusiestweekoftheyear,andincreasedstaffabsence.Asaresult,salesofcraftreduced.Both were unexpectedandtheeffectisreflectedinlowerthanexpectedincome.Restrictionshavesinceeasedandthe Guild continues to monitor footfall and sales closely. ``` ``` The Guild has been fortunate to receive Grant help through this period from the following; ``` ## `The Moondance Foundation;` ``` The Arts Council of Wales; ``` ``` The Guild would like to thank the above for their support during this period: ``` ``` The Guildwouldalsoliketo thankThe Friendsof the MakersGuild,Membersof The MakersGuildandour individual supporters. ``` ``` The Guild'splansgoingforward,take into considerationthe learningsfrom the pandemic.Lessons learnt,especially at the earlystageof thispandemic,showthatdiversifyingincomestreams,a fundraisingplanandthe creationof a new strategic reserve are all essential to ensuring the Guild's future. ``` ``` TheGuildcontinuestoreviewandamendplansin'real'time,andasaresultTrusteesfeelconfidentthat the organisation is in a much better position to sustain itself going forward. ``` ``` Tohelpthisplan,theGuildcontinuestoadaptitsincomestreams,(suchasitsPOPup)developinglong term relationshipswith Funders (especiallywith those who supportedthe Guild duringthe pandemic)and is ensuringthat a reserve is created that is sufficient to see it through a similar scenario, should it occur again. ``` ``` TheGuildhasaprudentapproachinrelationtocashflowmanagement.Despiteeconomicheadwinds,theGuild has beenabletosuccessfullyaccessseveral'EmergencyFunding'grantsthroughthisextendedperiodof ongoing uncertainty.Althoughthe Guild'sreserves were almostcompletelydiminishedat the outbreakof the pandemic, steps havebeentakentoretainandrebuildcashreservesin-yearandoverthenext12months,despiteanticipating a reductionin(albeitimproving)earnedincome.TheGuild'splanistomaintainsufficientlevelsofreservesto ensure the Guild can face a similar situation if one was to occur again. ``` ## **`Reserves policy`** ``` TheGuildwasinitiallyforcedintoutilisingmostofitsreservesinorderintheinitialstageoftheCOVID-19 pandemic and subsequentLockdownperiod.Althoughmuch depleted,these Reserves helped the Guild survive until funding was received from UK and Welsh Government,Foundations,Trusts and donations.The Guild has prioritisedthe 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`** ``` TheinitialimpactontheCharityduetoCOVIDwassevere,testingtheorganisationsresiliencetothe extreme. Howeverlearningfromthishashelpedtheguildtorebuildanewmoreresilientorganisation.Movingforward, with theCostofLivingCrisisandEnergyCrisis,theguildpotentiallyfacesamoreseveretestthanthatseenduring the pandemic,withlittleornogovernmenthelp,thepotentialriskismoresevere,howeverthecharityismuch more resilient to any potential threats and risks that may still lie ahead. ``` ``` 8 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022`** ## **`Strategic report`** ## **`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 to 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. ``` ## **`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. ``` ``` 9 ``` ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022`** ## **`Structure, governance and management`** ## **`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-timestaffand5part-timestaff,whichhasremainedconstantforanumberof years. VolunteeringhassincetheGuild'sinceptionin1984,beingseenasvitaltoensuringthattheGuildcan operate effectively.VolunteeringisastrengththatgivestheGuildanabilitytocallontheskills,timeandenergyofa large dedicated and supportive volunteer base when required. ``` ``` ThestaffingoftheGalleryareaissupplementedbyavolunteereachday.TheGuildoperatesaprogramme of volunteeropportunitiesandrecruitsthroughtheVolunteerNetwork,partoftheThirdSectorSupportWales. The GuildisamemberoftheWelshCouncilforVoluntaryAction(WCVA).TheGuildhasbeenavolunteerled and supported organisation since it's inception in 1984 with many long serving volunteers. ``` ``` TheGuildoperatedwiththehelpof533daysgivenbyvolunteersin2021/22whichincludemaker-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. ``` ## **`Reference and administrative details Registered Company number`** ``` 05608888 (England and Wales) ``` ## **`Registered Charity number`** ``` 1113675 ``` ## **`Registered office`** ``` The Flourish Lloyd George Avenue Cardiff CF10 4QH ``` ``` 10 ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30JUNE 2022 Trustees B Adams Iresigned 1114120221 S Nicholls Iresigned 1114120221 G Purcell-lones Treasurer R Pitt Ireslgned 1114120221 D S Lewis Ge8enwart D E James Iresi8ned 1114120221 P R Thomas Iresigned 1817120221 T A Adam (Chairl P Lawrence LMGTann K A Davld lappointed 2315120221 S Aziz (appointed 2315120221 A G Jones (appointed 1817120221 C J Strong lappointèd 1817120221 J Hook lappolnted 2315120221 Company Se¢ret•ry S Burgess Indepèndent Examlner Stuart Harries FCA ACCA Independent Examiner Carr. jenkins & Hood Oystermtsuth House Charter Court, Phoenix Wav Swansea Enterprise Park Swansea SA7 9FS Thls report ha5 been prepared In accordance wlth the special provislons of Part 15 of the Companies Act 2Cx)6 relatSn8 to small companies. Report of the trustees, Incorporatlng a Strategic report, approved by erder of the board of trustees. as the Companv dlrectors, on Q¥.:.11.,¢.os.¢............ and signed on the board'5 behalfbv.. T A Adam- Trustee li INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 056088881 Independent examiner's report to the trustees of The Makers Gulld In Wale51'the Companv'l I report to the charlty trustees on my examinatSon of the accounts of the Company for the year ended 30June 2022. Responsibilities and basls of report A5 the charity's trustees of the Company land also Its directors for the purposes of company lawl you are responsible for the preparation of the accounis In accordance wlth the requirements of ihe Companies Act 20)6 (the 2006 A¢t'l. Having sat15fied myself that the accounts of the Company are not required to be audlted under Part 16 of the 2006 Ad and are eligible for indèpendent examination. I report in respect of my examlnatlon ol your charity's accounts as carried oul under section 145 of the Charities Act 2011 1.the 2011 Act'l. In carrying out my examination I have followed the Oirectlons glven by the Charity Commisslon under section 145151 Ibl of the 2011 Act. Independent examlnef's statement Sin¢È the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 ol the 2011 Act. l Can conflrm that l am qualified to undertake the examlnation because l am a member of the Institute of Chartered Accountants in England and Wales, which Is one of the Ilsted bodie5. I have ctsmpleted my examination. I tonflrm that no matters have come to my attention In connection with the examination givlng me ¢ause to believe that In any material respect'.- accountlng Tecords were not kept in respect of the Company as requlred by sectlon 386 of the 2(K16 Act,. or the account5 do not accord with those records.. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which Ss not a rnatter considered as part of an Independent examinatlon.. or the accounts have not been prepared In accordance wlth the method5 and principles of the Statement of Recommended Practice for accountln@ and reportin8 by charitles (applicable to charities preparing thelr account5 in accordance with the Flnancial Rep¢rtin8 Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters conne¢tlon with the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understanding of the account5 to be reached. Stuart Harries FCA ACCA Independent Examiner Carr. Jenklns & Hood Oystermouth House Charter Court, Phoenix Way Swansea Enterprise Park Swansea SA7 9FS Date.. 12 ## **`THE MAKERS GUILD IN WALES`** ## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2022`** |`Notes`
**`Income and endowments from`**
`Donations and legacies`
`3`
**`Charitable activities`**
`Gallery`
`Exhibition`
`Workshop`
`Other trading activities`
`4`
`Investment income`
`5`
`Other income`
`7`
**`Total`**
**`Expenditure on`**
`Raising funds`
`8`
**`Charitable activities`**
`9`
`Gallery`
`Exhibition`
`Workshop`
`Taxation`
`11`
**`Total`**
**`NET INCOME/(EXPENDITURE)`**
**`Transfers between funds`**
`22`
**`Net movement in funds`**
**`Reconciliation of funds`**
**`Total funds brought forward`**
`As previously reported`
`Prior year adjustment`
`16`
**`As restated`**
**`Total funds carried forward`**|`Unrestricted`
`funds`
`£`
**`12,000`**
**`12,867`**
**`18,724`**
**`2,469`**
**`47,216`**
**`31,939`**
**`6,220`**
**`131,435`**
**`13,375`**
**`44,338`**
**`-`**
**`-`**
**`(5,263)`**
**`52,450`**
**`78,985`**
**`(47,226)`**
**`31,759`**
**`129,160`**
**`3,721`**
**`132,881`**
**`164,640`**|`Restricted`
`funds`
`£`
**`121,139`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`121,139`**
**`14,207`**
**`95,658`**
**`28,956`**
**`14,884`**
**`-`**
**`153,705`**
**`(32,566)`**
**`47,226`**
**`14,660`**
**`-`**
**`1,045,131`**
**`1,045,131`**
**`1,059,791`**|**`2022`**
**`Total`**
**`funds`**
**`£`**
**`133,139`**
**`12,867`**
**`18,724`**
**`2,469`**
**`47,216`**
**`31,939`**
**`6,220`**
**`252,574`**
**`27,582`**
**`139,996`**
**`28,956`**
**`14,884`**
**`(5,263)`**
**`206,155`**
**`46,419`**
**`-`**
**`46,419`**
**`129,160`**
**`1,048,852`**
**`1,178,012`**
**`1,224,431`**|`2021`
`Total`
`funds`
`as restated`
`£`
`85,146`
`12,194`
`14,047`
`944`
`11,456`
`31,142`
`38,927`| |---|---|---|---|---| |||||`193,856`| |||||`11,063`
`134,124`
`28,029`
`13,603`
`-`| |||||`186,819`| |||||`7,037`
`-`| |||||`7,037`
`1,170,975`
`-`| |||||`1,170,975`| |||||`1,178,012`| ``` The notes form part of these financial statements ``` ``` 13 ``` ## **`THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888)`** ## **`BALANCE SHEET 30 JUNE 2022`** |`Notes`
**`Fixed assets`**
`Tangible assets`
`18`
**`Current assets`**
`Stocks`
`19`
`Debtors`
`20`
`Cash at bank and in hand`
**`Creditors`**
`Amounts falling due within one year`
`21`
**`Net current assets`**
**`Total assets less current liabilities`**
**`NET ASSETS`**
**`Funds`**
`22`
`Unrestricted funds:`
`General fund`
`Designated investment fund`
`Restricted funds:`
`Premises`
`Solar panels`
`Extractor fan`
`Kiln`
`ACW Craft Development Programme`
**`Total funds`**|`Unrestricted`
`funds`
`£`
**`34,111`**
**`7,940`**
**`33,171`**
**`138,555`**
**`179,666`**
**`(49,137)`**
**`130,529`**
**`164,640`**
**`164,640`**|`Restricted`
`funds`
`£`
**`1,029,730`**
**`-`**
**`4,381`**
**`25,680`**
**`30,061`**
**`-`**
**`30,061`**
**`1,059,791`**
**`1,059,791`**|**`2022`**
**`Total`**
**`funds`**
**`£`**
**`1,063,841`**
**`7,940`**
**`37,552`**
**`164,235`**
**`209,727`**
**`(49,137)`**
**`160,590`**
**`1,224,431`**
**`1,224,431`**
**`109,640`**
**`55,000`**
**`164,640`**
**`1,022,207`**
**`7,523`**
**`2,764`**
**`-`**
**`27,297`**
**`1,059,791`**
**`1,224,431`**|`2021`
`Total`
`funds`
`as restated`
`£`
`1,068,703`
`16,095`
`38,605`
`115,083`
`169,783`
`(60,474)`
`109,309`
`1,178,012`
`1,178,012`
`77,881`
`55,000`
`132,881`
`1,032,060`
`9,404`
`2,934`
`733`
`-`
`1,045,131`
`1,178,012`| |---|---|---|---|---| ``` The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year ended 30 June 2022. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006. ``` ``` The notes form part of these financial statements ``` ``` continued... ``` ``` 14 ``` THE MAKERS GUILD IN WALES (REGISTERED NUMBER: 05608888) BALANCE SHEET- continued 30JUNE 2022 The trustees acknowledge their responsibilitles for ensuring that the charitable company keeps accounting records that comply wlth Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitablè company as at the end of eath financial year and of its surplus or deficit lor each financlal year in accordance with the requirements of Section5 394 and 395 and which otherwise comply wlth the requirements of the Companies Act 2006 relating to financSal statements, 50 far as appllcable to the charltable companv. Ibl These financial ststements have been prepared Sn accordance with the provisions applicable to chailtable companies subject to the small companles regime. The finandal statements were approved by the Board of Trustees and authcirlsed for Issue ..7..1111. 2.1............. and were 5I8ned on its behalf by: on G Purce -Jones- Trustee The notes form part of these financial statements 15 ``` THE MAKERS GUILD IN WALES ``` ``` NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 ``` ## **`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... ``` ``` 16 ``` ``` THE MAKERS GUILD IN WALES ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022 ``` ## **`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... ``` ``` 17 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`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`**||| |---|---|---| ||**`2022`**|`2021`| |||`as restated`| ||**`£`**|`£`| |`Grants`|**`133,139`**|`85,146`| ``` Incomefromdonationsandlegacieswas£133,139(2021;£85,146)ofwhich£121,139(2021;£73,646) was attributable to restricted funds and £12,000 (2021; £11,500) was attributable to unrestricted funds. ``` ``` Grants received and released in the year, included in the above, are as follows: ``` ||`2022`|`2021`| |---|---|---| ||`£`|`£`| |||| |`Arts Council of Wales Emergency Funding`|`-`|`40,000`| |`The Gibbs Trust`|`-`|`1,500`| |`Arts Council of Wales Cultural Recovery Fund`|`2,962`|`33,646`| |`Foyle Foundation`|`-`|`10,000`| |`Arts Council of Wales Cultural Recovery Fund 2`|`74,384`|`-`| |`Moondance Foundation`|`10,000`|`-`| |`Arts Council of Wales Craft Development Programme`|`43,793`|`-`| |`Selwyn Gale - Contribution to jewellery cabinets`|`2,000`|`-`| |||| ||`133,139`|`85,146`| |||| ## **`4.`** |**`Other trading activities`**
`Fundraising events`
`Gallery income`
`Pop up shop`|**`2022`**
`as`
**`£`**
**`2,073`**
**`33,911`**
**`11,232`**
**`47,216`**|`2021`
`restated`
`£`
`674`
`10,782`
`-`
`11,456`| |---|---|---| ``` continued... ``` ``` 18 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** |**`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`
`HMRC Job Retention Scheme`
`Insurance claim`
`Cardiff Council Restriction Business Fund grant`
`Welsh Government Sector Specific Fund grant`|**`2022`**
`as`
**`£`**
**`29,159`**
**`2,745`**
**`35`**
**`31,939`**
**`2022`**
`as`
**`£`**
**`12,492`**
**`375`**
**`18,724`**
**`2,469`**
**`34,060`**
**`2022`**
`as`
**`£`**
**`2,280`**
**`-`**
**`3,940`**
**`-`**
**`-`**
**`6,220`**|`2021`
`restated`
`£`
`26,600`
`4,534`
`8`
`31,142`
`2021`
`restated`
`£`
`11,994`
`200`
`14,047`
`944`
`27,185`
`2021`
`restated`
`£`
`1,865`
`13,811`
`751`
`15,000`
`7,500`
`38,927`| |---|---|---| ``` continued... ``` ``` 19 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`8. Raising funds`** ## **`Other trading activities`** |`Purchases`
`Bad debts`
`Advertising`
**`Charitable activities costs`**
`Gallery`
`Exhibition`
`Workshop`|`Direct`
`Costs`
`£`
**`49,147`**
**`28,956`**
**`14,884`**
**`92,987`**|**`2022`**
`a`
**`£`**
**`28,949`**
**`-`**
**`(1,367)`**
**`27,582`**
`Support`
`costs (see`
`note 10)`
`£`
**`90,849`**
**`-`**
**`-`**
**`90,849`**|`2021`
`s restated`
`£`
`5,989`
`597`
`4,477`
`11,063`
`Totals`
`£`
**`139,996`**
**`28,956`**
**`14,884`**
**`183,836`**| |---|---|---|---| ## **`9. Charitable activities costs`** ``` £153,707(2021; £131,686)of the above costs were attributableto restrictedfunds. £30,129 (2021; £44,070) of the above costs were attributable to unrestricted funds. ``` ## **`10. Support costs`** |||`Governance`|| |---|---|---|---| ||`Management`|`costs`|`Totals`| ||`£`|`£`|`£`| |`Gallery`|**`60,096`**|**`30,753`**|**`90,849`**| |`Support costs, included in the above, are as follows:`|||| |**`Management`**|||| |||**`2022`**|`2021`| ||||`as restated`| ||||`Total`| |||`Gallery`|`activities`| |||**`£`**|`£`| |`Wages`||**`43,979`**|**`42,143`**| |`Pensions`||**`2,532`**|**`2,349`**| |`Rates and water`||**`1,097`**|**`293`**| |`Insurance`||**`2,300`**|**`2,765`**| |`Light and heat`||**`2,465`**|**`2,204`**| |`Telephone`||**`245`**|**`240`**| |`Carried forward`||**`52,618`**|**`49,994`**| ``` continued... ``` ``` 20 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`10. Support costs - continued`** ## **`Management - continued`** |`Brought forward`
`Postage and stationery`
`Sundry expenses`
`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`
`Sundry expenses`
`Repairs and maintenance`
`Depreciation of tangible fixed assets`
`Bank charges`
`Credit card charges`|**`2022`**
`2021`
`as restated`
`Total`
`Gallery`
`activities`
**`£`**
`£`
**`52,618`**
**`49,994`**
**`708`**
**`645`**
**`1,426`**
**`1,725`**
**`243`**
**`236`**
**`532`**
**`440`**
**`3,785`**
**`2,314`**
**`784`**
**`252`**
**`60,096`**
**`55,606`**
**`2022`**
`2021`
`as restated`
`Total`
`Gallery`
`activities`
**`£`**
`£`
**`18,078`**
**`17,740`**
**`866`**
**`841`**
**`4,000`**
**`3,500`**
**`630`**
**`137`**
**`1,321`**
**`1,303`**
**`1,417`**
**`1,037`**
**`141`**
**`114`**
**`408`**
**`304`**
**`821`**
**`813`**
**`2,176`**
**`1,091`**
**`450`**
**`119`**
**`138`**
**`112`**
**`307`**
**`207`**
**`30,753`**
**`27,318`**| |---|---| ``` continued... ``` ``` 21 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`11. Taxation`** |**`Taxation`**||| |---|---|---| ||**`2022`**|`2021`| |||`as restated`| ||**`£`**|`£`| |`Museums and Galleries Tax Relief`|**`(5,263)`**|`-`| ``` The MakersGuildIn Wales,as a registeredcharity,is entitledto exemptionfrom taxationin respectof income andcapitalgainsreceivedwithinsections478-489oftheCorporationTaxAct2010andsection256of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives only. ``` ``` The charitydoes howeverqualifyfor the MuseumsandGalleriesTax Reliefin respectof certainexpenditure it incurs on its exhibitions, resulting in the tax credits included in the accounts as above. ``` ``` Thereisanoutstandingclaiminrespectofearlieryears2017,2018,2019and2020totalling£10,801. No provision is made in these accounts due to the uncertainty of whether it will be agreed and repaid by HMRC. ``` ## **`12. Net income/(expenditure)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||**`2022`**|`2021`| |---|---|---| |||`as restated`| ||**`£`**|`£`| |`Independent examiners remuneration`|**`4,000`**|`3,500`| |`Depreciation - owned assets`|**`15,465`**|`13,345`| ## **`13. Trustees' remuneration and benefits`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended30June2022norforthe year ended 30 June 2021. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021. ``` ## **`14. Staff costs`** |`Wages and salaries`
`Other pension costs`|**`2022`**
`a`
**`£`**
**`112,926`**
**`5,261`**
**`118,187`**|`2021`
`s restated`
`£`
`104,875`
`5,003`
`109,878`| |---|---|---| ``` continued... ``` ``` 22 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`14. Staff costs - continued`** ``` The average monthly number of employees during the year was as follows: ``` |`Management`
`Gallery, exhibition and workshop`
`Administration`|**`2022`**
`as`
**`1`**
**`6`**
**`1`**
**`8`**|`2021`
`restated`
`1`
`5`
`1`
`7`| |---|---|---| ``` No employees received emoluments in excess of £60,000. ``` ``` Thekeymanagementpersonnelofthecharity,comprisethetrustees,generalmanager,artisticcurator and financeandmembershipmanager.Thetotalemployeebenefitsofthekeymanagementpersonnel were £86,729 (2021: £87,529). ``` ## **`15. Comparatives for the statement of financial activities`** |**`Income and endowments from`**
`Donations and legacies`
**`Charitable activities`**
`Gallery`
`Exhibition`
`Workshop`
`Other trading activities`
`Investment income`
`Other income`
**`Total`**
**`Expenditure on`**
`Raising funds`
**`Charitable activities`**
`Gallery`
`Exhibition`
`Workshop`
**`Total`**
**`NET INCOME/(EXPENDITURE)`**
**`Transfers between funds`**|`Unrestricted`
`funds`
`£`
`11,500`
`12,194`
`14,047`
`944`
`11,456`
`31,142`
`38,927`
`120,210`
`11,063`
`38,432`
`-`
`-`
`49,495`
`70,715`
`(37,682)`|`Restricted`
`funds`
`£`
`73,646`
`-`
`-`
`-`
`-`
`-`
`-`
`73,646`
`-`
`95,692`
`28,029`
`13,603`
`137,324`
`(63,678)`
`37,682`|`Total`
`funds`
`as restated`
`£`
`85,146`
`12,194`
`14,047`
`944`
`11,456`
`31,142`
`38,927`| |---|---|---|---| ||||`193,856`| ||||`11,063`
`134,124`
`28,029`
`13,603`| ||||`186,819`| ||||`7,037`
`-`| ``` continued... ``` ``` 23 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`15. Comparatives for the statement of financial activities - continued`** |**`Comparatives for the statement of financial activities - continued`**|||| |---|---|---|---| |**`Net movement in funds`**
**`Reconciliation of funds`**
`Total funds brought forward`
**`Total funds carried forward`**|`Unrestricted`
`funds`
`£`
`33,033`
`99,848`
`132,881`|`Restricted`
`funds`
`£`
`(25,996)`
`1,071,127`
`1,045,131`|`Total`
`funds`
`as restated`
`£`
`7,037`
`1,170,975`| ||||`1,178,012`| ## **`16. Prior year adjustment`** ``` Theaccountsto30June2021havebeenrestated.Grantsreceivedinpreviousyearswereaccountedfor as deferredincomeand releasedover the life of the connectedassets. These grantsshouldhave been recognised under the performance model and released to the SOFA on receipt. ``` ``` Asaresultofthisrestatement,thetotalincomedecreasedby£74,325,restrictedfundsincreased by £1,045,131 and unrestricted funds increased by £3,721. ``` ## **`17. Independent examiners remuneration`** ||`2022`|`2021`| |---|---|---| ||`£`|`£`| |`Examination and preparation of the financial statements`|`4,000`|`3,500`| |||| ||`4,000`|`3,500`| |||| ``` continued... ``` ``` 24 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`18. Tangible fixed assets`** |**`Cost`**
`At 1 July 2021`
`Additions`
`At 30 June 2022`
**`Depreciation`**
`At 1 July 2021`
`Charge for year`
`At 30 June 2022`
**`Net book value`**
`At 30 June 2022`
`At 30 June 2021`
**`Stocks`**
`Goods for resale`
**`Debtors: amounts falling due within one year`**
`Trade debtors`
`Other debtors`
`Corporation tax recoverable`
`Prepayments`|`Freehold`
`property`
`£`
**`1,240,381`**
**`-`**
**`1,240,381`**
**`183,793`**
**`10,084`**
**`193,877`**
**`1,046,504`**
`1,056,588`|`Plant and`
`machinery`
`£`
**`23,807`**
**`10,604`**
**`34,411`**
**`13,501`**
**`4,905`**
**`18,406`**
**`16,005`**
`10,306`|`Fixtures`
`and`
`fittings`
`£`
**`80,533`**
**`-`**
**`80,533`**
**`78,725`**
**`476`**
**`79,201`**
**`1,332`**
`1,808`
**`2022`**
**`£`**
**`7,940`**
**`2022`**
**`£`**
**`14,222`**
**`4,381`**
**`5,263`**
**`13,686`**
**`37,552`**|`Totals`
`£`
**`1,344,721`**
**`10,604`**
**`1,355,325`**
**`276,019`**
**`15,465`**
**`291,484`**
**`1,063,841`**
`1,068,702`
`2021`
`as restated`
`£`
`16,095`
`2021`
`as restated`
`£`
`24,814`
`3,365`
`-`
`10,426`
`38,605`| |---|---|---|---|---| |||||| |||||| |||||| |||||| |||||| |||||`as`
`as`| ## **`19. Stocks`** ## **`20. Debtors: amounts falling due within one year`** ``` continued... ``` ``` 25 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`21. Creditors: amounts falling due within one year`** |`Trade creditors`
`Social security and other taxes`
`VAT`
`Other creditors`
`Deferred income`
`Accrued expenses`|**`2022`**
`as`
**`£`**
**`15,139`**
**`1,426`**
**`2,565`**
**`21,374`**
**`1,954`**
**`6,679`**
**`49,137`**|`2021`
`restated`
`£`
`9,386`
`-`
`6,179`
`17,616`
`1,954`
`25,339`
`60,474`| |---|---|---| ## **`22. Movement in funds`** |**`Movement in funds`**|||||| |---|---|---|---|---|---| |**`Unrestricted funds`**
`General fund`
`Designated investment`
`fund`
**`Restricted funds`**
`Exhibition`
`Workshop`
`Gallery`
`Premises`
`Solar panels`
`Extractor fan`
`Kiln`
`ACW Craft Development`
`Programme`
**`TOTAL FUNDS`**|`At 1.7.21`
`£`
**`74,160`**
**`55,000`**
**`129,160`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`129,160`**|`Prior`
`year`
`adjustment`
`£`
**`3,721`**
**`-`**
**`3,721`**
**`-`**
**`-`**
**`-`**
**`1,032,060`**
**`9,404`**
**`2,934`**
**`733`**
**`-`**
**`1,045,131`**
**`1,048,852`**|`Net`
`movement`
`in funds`
`£`
**`78,985`**
**`-`**
**`78,985`**
**`(34,922)`**
**`(23,125)`**
**`10,821`**
**`(9,853)`**
**`(1,881)`**
**`(170)`**
**`(733)`**
**`27,297`**
**`(32,566)`**
**`46,419`**|`Transfers`
`between`
`funds`
`£`
**`(47,226)`**
**`-`**
**`(47,226)`**
**`34,922`**
**`23,125`**
**`(10,821)`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`47,226`**
**`-`**|`At`
`30.6.22`
`£`
**`109,640`**
**`55,000`**| ||||||**`164,640`**
**`-`**
**`-`**
**`-`**
**`1,022,207`**
**`7,523`**
**`2,764`**
**`-`**
**`27,297`**| ||||||**`1,059,791`**| ||||||**`1,224,431`**| ``` continued... ``` ``` 26 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`22. Movement in funds - continued`** ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Exhibition`
`Workshop`
`Gallery`
`Premises`
`Solar panels`
`Extractor fan`
`Kiln`
`ACW Craft Development Programme`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
**`131,435`**
**`(52,450)`**
**`78,985`**
**`-`**
**`(34,922)`**
**`(34,922)`**
**`-`**
**`(23,125)`**
**`(23,125)`**
**`77,346`**
**`(66,525)`**
**`10,821`**
**`-`**
**`(9,853)`**
**`(9,853)`**
**`-`**
**`(1,881)`**
**`(1,881)`**
**`-`**
**`(170)`**
**`(170)`**
**`-`**
**`(733)`**
**`(733)`**
**`43,793`**
**`(16,496)`**
**`27,297`**
**`121,139`**
**`(153,705)`**
**`(32,566)`**
**`252,574`**
**`(206,155)`**
**`46,419`**| |---|---| ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
`Designated investment fund`
**`Restricted funds`**
`Exhibition`
`Workshop`
`Gallery`
`Premises`
`Solar panels`
`Extractor fan`
`Kiln`
**`TOTAL FUNDS`**|`At 1.7.20`
`£`
`99,848`
`-`
`99,848`
`-`
`-`
`13,358`
`1,041,913`
`11,285`
`3,104`
`1,467`
`1,071,127`
`1,170,975`|`Net`
`movement`
`in funds`
`£`
`70,715`
`-`
`70,715`
`(28,029)`
`(13,603)`
`(9,408)`
`(9,853)`
`(1,881)`
`(170)`
`(734)`
`(63,678)`
`7,037`|`Transfers`
`between`
`funds`
`£`
`(92,682)`
`55,000`
`(37,682)`
`28,029`
`13,603`
`(3,950)`
`-`
`-`
`-`
`-`
`37,682`
`-`|`At`
`30.6.21`
`£`
`77,881`
`55,000`| |---|---|---|---|---| |||||`132,881`
`-`
`-`
`-`
`1,032,060`
`9,404`
`2,934`
`733`| |||||`1,045,131`| |||||`1,178,012`| ``` continued... ``` ``` 27 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`22. 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`
`Premises`
`Solar panels`
`Extractor fan`
`Kiln`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`120,210`
`(49,495)`
`70,715`
`-`
`(28,029)`
`(28,029)`
`-`
`(13,603)`
`(13,603)`
`73,646`
`(83,054)`
`(9,408)`
`-`
`(9,853)`
`(9,853)`
`-`
`(1,881)`
`(1,881)`
`-`
`(170)`
`(170)`
`-`
`(734)`
`(734)`
`73,646`
`(137,324)`
`(63,678)`
`193,856`
`(186,819)`
`7,037`| |---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
`Designated investment`
`fund`
**`Restricted funds`**
`Exhibition`
`Workshop`
`Gallery`
`Premises`
`Solar panels`
`Extractor fan`
`Kiln`
`ACW Craft Development`
`Programme`
**`TOTAL FUNDS`**|`At 1.7.20`
`£`
`99,848`
`-`
`99,848`
`-`
`-`
`13,358`
`1,041,913`
`11,285`
`3,104`
`1,467`
`-`
`1,071,127`
`1,170,975`|`Prior`
`year`
`adjustment`
`£`
`3,721`
`-`
`3,721`
`-`
`-`
`-`
`1,032,060`
`9,404`
`2,934`
`733`
`-`
`1,045,131`
`1,048,852`|`Net`
`movement`
`in funds`
`£`
`149,700`
`-`
`149,700`
`(62,951)`
`(36,728)`
`1,413`
`(19,706)`
`(3,762)`
`(340)`
`(1,467)`
`27,297`
`(96,244)`
`53,456`|`Transfers`
`between`
`funds`
`£`
`(139,908)`
`55,000`
`(84,908)`
`62,951`
`36,728`
`(14,771)`
`-`
`-`
`-`
`-`
`-`
`84,908`
`-`|`At`
`30.6.22`
`£`
`113,361`
`55,000`| |---|---|---|---|---|---| ||||||`168,361`
`-`
`-`
`-`
`2,054,267`
`16,927`
`5,698`
`733`
`27,297`| ||||||`2,104,922`| ||||||`2,273,283`| ``` continued... ``` ``` 28 ``` ``` THE MAKERS GUILD IN WALES ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022`** ## **`22. Movement in funds - continued`** ``` A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Exhibition`
`Workshop`
`Gallery`
`Premises`
`Solar panels`
`Extractor fan`
`Kiln`
`ACW Craft Development Programme`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`251,645`
`(101,945)`
`149,700`
`-`
`(62,951)`
`(62,951)`
`-`
`(36,728)`
`(36,728)`
`150,992`
`(149,579)`
`1,413`
`-`
`(19,706)`
`(19,706)`
`-`
`(3,762)`
`(3,762)`
`-`
`(340)`
`(340)`
`-`
`(1,467)`
`(1,467)`
`43,793`
`(16,496)`
`27,297`
`194,785`
`(291,029)`
`(96,244)`
`446,430`
`(392,974)`
`53,456`| |---|---| ``` Restricted funds are grants received for specific charitable objectives. ``` ## **`23. Related party disclosures`** ``` There were no related party transactions for the year ended 30 June 2022. ``` ## **`24. Ultimate controlling party`** ``` The ultimate controlling party is the board of trustees. ``` ``` 29 ```