REGISTERED COMPANY NUMBER: 05260737 (England and Wales) REGISTERED CHARITY NUMBER: 1120510
Strategic Report, Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2020
for
Menter Y Felin Uchaf Cyf. (A Company Limited by Guarantee)
Gwyn Thomas and Co Limited 1 Thomas Buildings New Street Pwllheli Gwynedd LL53 5HH
Menter Y Felin Uchaf Cyf.
Contents of the Financial Statements for the Year Ended 31 October 2020
| Page | |||
|---|---|---|---|
| Strategic Report | 1 | to | 7 |
| Report of the Trustees | 8 | to | 9 |
| Independent Examiner's Report | 10 | ||
| Statement of Financial Activities | 11 | ||
| Balance Sheet | 12 | to | 13 |
| Notes to the Financial Statements | 14 | to | 18 |
| Detailed Statement of Financial Activities | 19 | to | 20 |
Menter Y Felin Uchaf Cyf.
for the Year Ended 31 October 2020
Strategic Report
The trustees present their strategic report for the year ended 31 October 2020.
The principal activity of the charity in the year under review was that of creating a centre for cultural and environmental education and research that offers a holistic and dynamic approach to learning. All the new facilities are being created entirely through the work of trainees/apprentices and volunteers.
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Menter Y Felin Uchaf Cyf.
Strategic Report for the Year Ended 31 October 2020
REVIEW OF BUSINESS
Now approaching year 18 of the initial business plan it is encouraging to note how closely the development of the project has followed the route map set out from the original vision of 2004
One of the main aims of the initiative from the outset was to enliven and broaden the cultural life of the area, creating a site that would enrich the local biodiversity and to raise awareness of the importance of conserving and enhancing our natural resources in order to sustain a healthy economic community life. Central to the long-term development plan was to ensure that this work was designed so as to maximise the opportunities for engaging volunteers, trainees and both from the local and wider global community. The ambitious building and landscaping programme that was awarded planning permission back in 2006 has transformed the formerly neglected farm into a thriving community resource and a hub for cultural and educational events, skills training activities, volunteering and work experience opportunities. Though not exclusively aimed at young people - by and large the majority of the many hundreds of participants engaged through the project are younger people between the ages of 16 and 26, through to regular local volunteers are in their late 70s. Led by the dedicated group of older volunteers from the local community - the organic gardening work and habitat conservation compliments the heavy construction work underway on the new workshops and visitor facilities and succeeds in attracting a broader spectrum of volunteers. Whereas the traditional and eco-building work engages those eager to gain specific skills and experience in a particular field of interest such as carpentry or masonry.
A clear template has been established for both engaging new participants and supporting them through each stage of our range of practical training programmes. Each of the main building development programmes has been successful in attracting funding through emphasising the skills training and volunteering opportunities that have been built into them. It comes as a surprise and wonder to many of the visitors to the centre to hear that all our of our buildings and landscaping - which demonstrate a high level of craftsmanship, has been carried out entirely by trainees and volunteers, most of whom were quite unfamiliar with this kind of work beforehand. The fruits of their commitment and generosity will stand as an enduring testimony to inspire and encourage a can do attitude for people who come here in the future. Seeing is believing - one has to actually experience the fine workmanship on the massive oak framing of the boatbuilding workshop and the stunning roof carpentry of the new visitor centre, CAMAS and Observatory building to believe that such an achievement was possible through volunteer work alone. As such it has become one of the most photographed and widely publicised grass roots community initiatives anywhere in the UK. During its development the project has been widely featured through S4C & Welsh radio programmes, national magazines such as Border Life and Coastal Life and National Trust magazine articles, photographs of our volunteer projects, included by several of our partners in their annual reports, promotional videos and marketing publicity. Documentaries of our skills training produced by both the Welsh Assembly Government and the Scottish Government are regularly featured at national volunteering conferences as an exemplar of how small rural communities can stimulate regeneration through their own initiative and resourcefulness. There is now a playlist of short video's documenting the progress made by trainees and volunteers in building each of the eco-facilities at the centre:
Building CAMAS : https://www.youtube.com/watch?v=GPGzJl2Wmws&t=1s
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Menter Y Felin Uchaf Cyf.
Strategic Report for the Year Ended 31 October 2020
Our bunkhouses have enabled year-round residential volunteer with as many as 6 volunteers resident at the farmhouse and Celtic thatched roundhouses. Visiting volunteers together with the team of regular local volunteers have moved tonnes of earth, stone and timber during the various construction projects, the cost of having to have had contractors to carry out this work would have made some of these projects prohibitively expensive. In this way Felin Uchaf offers funders the best possible value for money, by planning in volunteer work for every building project means that we are creating both important physical Community Asset and, more importantly: a valuable skills asset within the local community. Over the past 4 years alone 78 volunteers have gifted over 40,000 hours toward the project, learning new skills, gaining their confidence and team building capacity - this is an outstanding achievement. Many volunteers write glowing testimonials describing the positive life changing experiences that they have had at the centre and most weeks we are being asked by prospective employers or places of further training and education - to provide references for our former volunteers and trainees. Felin Uchaf is making a real difference to the lives and work prospects of the young people that participate in the centre's life and activities. Please see the website for testimonials www.felinwales.org. We have also rented out some of the accommodation on site through Airbnb in order to generate a sustainable unrestricted income to meet running costs. This has proved even more popular now in its third year, generating an income that enables us to meet the monthly loan repayments well beyond the close of the tourism season in September. We aim to expand this side of the enterprise significantly over the coming years and have applied for full planning permission to create an Eco-glamping facility on site with new eco-cabins, camping field and shower/washrooms facilities. The current pandemic situation, coupled with the withdrawal of many of our regular streams of funding following Brexit, has severely curtailed our residential volunteer work and temporarily halted our programme of public cultural courses and events in the roundhouse but as we emerge out of this, we aim to re-establish our commitment to the original vision of providing training and learning opportunities to a wide spectrum of people.
The expanded community garden and herb garden and improved volunteer facilities significantly increased our capacity to provide more practical activities and enabled 25 volunteers and attracted many visitors to learn more about sustainable land use and organic methods of food production. The project helps meet a growing need for information, training and support for many younger people from across the UK and abroad who want to explore more responsible land management practices and to source wholesome, locally grown organic produce.
Continued construction on CAMAS - a state of the art heritage visitor facility:
- Despite the lower numbers of residential volunteers and trainees due in part to the current pandemic restrictive measures and in part to the negative fallout from Brexit for international young people with EU supported training - this year the volunteers helped to build our latest facility dedicated to promoting the richness of local heritage: the CAMAS building - or The Centre for Archaeology, Mythology and Storytelling (Canolfan Archaeoleg, Mythoeg a Storiau). The funding for the project ended last year but we have managed to accrue a large amount of natural building materials such as locally sourced oak for the interior carpentry. The facility will provide visitors with a year round programme of events, activities and courses that maximise the economic potential of local historic and archaeological sites and local Welsh mythology-folklore associations and significantly enhance the Peninsula's appeal as a prime heritage visitor destination. The initial development phase will include: developing new heritage exhibition and interpretation material highlighting the history of the peninsula from ancient times & heritage events programmes & creating an effective UK & Europe wide marketing plan. Constructing the new centre has provided apprenticeship training in niche heritage skills and the facility will provide studio -workspaces to enable local artists and craftspeople to interpret and share the Llyn Peninsula's rich cultural & folklore heritage and archaeological significance. The centre will create a vital hub for the development of the area as an internationally recognised Eco-Museum that will both raise the profile of the entire centre's other eco-visitor facilities, increase visits to local historic sites and partner visitor facilities & promote the development of diverse new employment opportunities in heritage & cultural tourism.
Looking to the future we are aiming to generate a sustainable income from several new funding streams:
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through hosting fee-paying courses, workshops and seminars on natural and built heritage themes from eco-building to archaeology in the new Visitor Centre
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through developing the centre's Green & Cultural Tourism potential. The building of the new Eco-Visitor Centre & will include a shop, canteen-cafe & seminar room and significantly increase our capacity to host larger groups and all-weather events & providing a resource for organisations and business to run residential cooperative-team building and sustainability sessions.
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through further developing the biodynamic farm, gardens and café-canteen as both a training & volunteering resource and as a viable Community Supported Agriculture CSA initiative, including establishing a Paysanne style bakery within the kitchens , baking our own organic , site-grown and site-milled old -variety grain flours using the woodfired cob oven.
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Menter Y Felin Uchaf Cyf.
Strategic Report
for the Year Ended 31 October 2020
-
through providing accommodation and eco-activity holidays for visitors in the new Celtic Roundhouses We are also exploring the potential of building and then renting out timber glamping pods in one of the fields to visitors and to short courses participants. We are currently renting three of the new roundhouse & pod accommodation facilities to visitors through Airbnb this will rise to 4 next year plus a further 4 new eco-pods to be erected on site by summer 2022. - developing the site as a specialist heritage carpentry workshop providing commissioned design and build services for eco-building projects, specialist carpentry and design consultancy work. Our resident boatbuilder and carpenters at the boatbuilding workshop - Cwt Cychod - have been entrusted by the National Trust to restore some of their locally built historic wooden boats and by the Glaslyn Wildlife Project to further develop their oak framed outside classroom as partnership projects that benefit both sites through increased publicity and awareness. In time the workshop will be rented out to a carpentry business on the proviso that there will always be a training placement available for a young person.
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through generating our own electricity from a new wind turbine and photovoltaic installation ( planning granted ) The centre's staff are regularly being invited to give talks and presentations about the charity's pioneering work - albeit through zoom at present - to a wide range of community groups and rural regeneration initiatives throughout the UK, Ireland and mainland Europe. This is a clear affirmation of support for the charitable community work that is done at Felin Uchaf and helps draw other support and investment from other forward thinking individuals and organisations.
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Menter Y Felin Uchaf Cyf.
Strategic Report for the Year Ended 31 October 2020
THE YEAR IN DETAIL
Skills training
Each year we welcome students from the French ENSTIB Wood Engineering college at Epinal, on international internships. Due to the current situation - this year only one woodworking student managed to obtain the necessary permissions and support. Students stay with us for around 3 months and gain a range of valuable skills in traditional carpentry. Close relations with the college over the past 5 years have led to Felin Uchaf being established by our French partners as a renown centre for excellence in teaching heritage carpentry skills. Whatever the fallout or opportunities posed by Brexit, the centre will continue to work to strengthen partnership opportunities with our European neighbours. From the start- the model we aim to develop for the centre here at Felin Uchaf is similar to that of the Scandinavian Folk Schools , such as those offering the International Youth Initiative Programmes for holistic education at Jarna, Sweden http://yip.se/about/. The newly built facilities will form part of the campus resources for enabling young people to experience on-site work experience and training with independent craftspeople, makers, gardeners , cooks and caterers based on-site as practical apprentices.
Key to Felin Uchaf's success is that as a grassroots initiative it has grown out of a real local need and is therefore embedded in the community so that ideas, skills and practices that arise through the project find immediate practical application within that community. The ethos of sustainable development is carried through all aspects of the initiative and can be translated into sound practice and principals with which young people particularly, can use as a tool kit to build more sustainable lifestyles from sourcing and producing local organic food through to sustainable and affordable local housing projects. The information and skills learned through participating at the Centre help empower young people to take positive actions to revive and revitalise their communities. In this remote rural economically deprived area the promoting an engaged, motivated, can-do attitude is making a real difference to young people's outlook and prospects.
Volunteering projects
The volunteer input again this year has been significantly lower than previous years due to the pandemic restrictions. With only 8 volunteers resident at the centre for at least a month and aged between 16-28 years - some have been resident at the centre for up to 12 months having gifted an astounding 8,000 hours towards the project. Volunteer time sheets go toward evidencing a substantial amount of in-kind match funding that in turn attracts grant funding towards the various capital and revenue project costs. The lack of funding streams being made available through public funds at present for the volunteer training we have traditionally offered is certainly cause for concern and we are therefore looking to other means of generating sustainable funding such as through private sponsorship and crowdfunding , to sustain the volunteering and training programmes. The regular volunteers have achieved a huge amount of work on every aspect of the project but especially the gardening. Volunteer staff coordinated the regular work days and helped manage the overall project as part of the steering group. The local team were joined by a small number of visiting UK based volunteers and 3 international student volunteers.
Adequately coordinated and suitably motivated: volunteer teams can effectively carry out even the more complex and advanced construction work as demonstrated this year by the carving of the traditional green oak framing and lime fine plasterwork on the new heritage visitor centre: CAMAS - the Centre for Archaeology, Mythology and Storytelling and adjacent Observatory room that has involved the accurate marking & cutting of hundreds of complex woodworking joints, some of the most complex and ambitious wood carving projects anywhere in the UK - and their final assembly by hand with block and tackle. The finished structure is a stunning testimony to the dedication and high level of craftsmanship of all the trainees and volunteers involved - that to date have come from 36 different countries! The comments entered into the visitors book clearly demonstrate how satisfying and rewarding the visiting volunteers have found their time at the Centre. There is a unique and friendly atmosphere here that makes people feel welcomed and enriches the varied and interesting work they undertake.
Our volunteers produced two excellent videos of their volunteering experiences. These are available for viewing YouTube through the following links:
https://youtu.be/jj08ed6Wvrw - Felin Uchaf Volunteers
https://youtu.be/gCMLiDsLucA- Felin Uchaf - Imagining a Place Without Borders
Progress with Buildings
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Menter Y Felin Uchaf Cyf.
Strategic Report
for the Year Ended 31 October 2020
The main project this year has been the building of the CAMAS building- the Centre for Archaeology, Mythology and Storytelling. The foundations and groundwork for the building were laid as early as 2009 and the current funding by the Coastal Communities Fund enables us to complete the massive carved oak roof to support a turf covering, lime-plastering, the laying of insulated limecrete floors and the electrical work. When completed the building will include a state of the art exhibition space/ auditorium, two craft studios and kitchen 2 bathrooms, outside garden with seating as well as an adjacent observatory - a 12 sided intricately carved oak frame meeting and interpretation space.
Eco-Visitor Centre -CLAS. The main focus of volunteering and trainee work has been directed towards fitting-out and finishing this substantial earth & straw baled walled and oak timber framed building project - forging ironwork for the doors and making coloured fused-glass windows inspired by plant designs. When fully operational, these spectacular oak framed cafe and spacious seminar room facilities will enable the Centre to host a wide range of artistic, cultural and practical craft courses and workshops, conferences and community events all of which will contribute towards enabling the centre to earn a sustainable income.
The Biodynamic Community Garden
The garden has been developed as a teaching aid and a point of research into the growing and use of herbs and has increased awareness about the importance of local traditions associated with the growing of indigenous herbs. Some of the most celebrated of Welsh herbalists lived and practiced within a mile of the Centre and the Llyn Peninsula has a rich folk herb lore tradition going back to mediaeval times.
Over the past five years the garden project has provided a focal point for local volunteers of all ages, probation service users, women's support groups, local school pupils and college students to come together and, with sweat and toil - and plenty of fun - to create a wild pharmacy which provides a superb teaching resource for the area's primary and secondary schools so that a more holistic approach to learning about the organic growing and harvesting of herbs can be encouraged. Local people and businesses such as Cafe Plas Carmel, Anelog and Blades Cafe, Abersoch have expressed interest in purchasing the garden's produce on a regular basis.
The extensive vegetable gardens and polytunnels are an exemplar of sustainable land management and provide a valuable focal point for local volunteers, especially older people, as well as wholesome organic-biodynamic produce for all the daily volunteer meals.
Cultural Events
This year our entire programme of public events was put on hold due to the pandemic restrictions. In the previous two years we piloted an international Storytelling Festival, run over the months of July and August - welcoming artists from Italy, Sweden , Belgium and Germany as well as many UK based performers. A full programme of bilingual storytelling and music concerts ran through the summer months and attracted good numbers of local people and visitors. Fireside evening events in the big roundhouse frequently attracted a capacity audience of over 120 people. We organised performances at local partner venues such as St Hywyn's Church Aberdaron and Plas Glyn Y Weddw, Llanbedrog. As well as contributing toward enriching the cultural life of the local area these events served as a valuable first introduction to the Centre and many people returned to lend a helping hand and to volunteer afterwards. It is our aim to recommence the cultural events programme once restrictions have been lifted and support becomes available once more for hosting such a programme.
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Menter Y Felin Uchaf Cyf.
for the Year Ended 31 October 2020
Strategic Report
LOOKING AHEAD
As with every centre open to the public and hosting public events and training/volunteering programmes - the challenges facing us as we move forward into a post-pandemic-restrictions world are considerable. We have had to delay or put on hold many of our short term aspirations but the challenge from here on is to continue to develop the centre as a social enterprise whilst exploring new avenues of funding and generating income from commercial activities. We are currently planning a Crowdfunding initiative to raise funds to complete the cafe. To this affect we are focusing our fundraising resources on obtaining strategic funding for income generating projects such as the current CAMAS construction project of the New Centre for Archaeology, Mythology and Storytelling and towards building work to the old farmhouse which is in urgent need of a new roof and complete interior refurbishment.
The completion of the CLAS and CAMAS visitor facilities, adjacent farm shop with produce form the organic gardens and orchards, the hosting of a year round programme of skills workshops and residential cultural courses and the renting out of roundhouses and glamping pods on site as business enterprise resources will start to generate a regular income toward the centre and in this way we aim to sustainably meet both our Commercial Mortgage Loan repayments and provide towards the core funding costs salary costs of a full time project manager for the centre.
Approved by order of the board of trustees on 26 October 2021 and signed on its behalf by:
Miss M L Jones - Trustee
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Menter Y Felin Uchaf Cyf.
for the Year Ended 31 October 2020
Report of the Trustees
The principal activity of the charity in the year under review was that of creating a centre for cultural and environmental education and research that offers a holistic and dynamic approach to learning. All the new facilities are being created entirely through the work of trainees/apprentices and volunteers.
OBJECTIVES AND ACTIVITIES
Public benefit
One of the main aims of the initiative from the outset was to enliven and broaden the cultural life of the area, creating a site that would enrich the local biodiversity and to raise awareness of the importance of conserving and enhancing our natural resources in order to sustain a healthy economic community life. Central to the long-term development plan was to ensure that this work was designed so as to maximise the opportunities for engaging volunteers, trainees and both from the local and wider global community
FINANCIAL REVIEW
Reserves policy
The Trustees are satisfied that sufficient reserves are held to meet the day to day working capital requirements of the Charity.
Going concern
The trustees are satisfied that the charity will be able to generate sufficient income to meet its obligations as and when they fall due.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The Board consists of two Trustee Directors.
The Charity's Trustees have overall responsibility for monitoring project progress, ensuring the agreed timetables and that budget plans are maintained. They meet on a monthly basis with staff for project reviews and are a team of professional people with local knowledge of environmental & local heritage initiatives and have a proven experience of successfully directing and overall management of ambitious capital projects at the centre since 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05260737 (England and Wales)
Registered Charity number
1120510
Registered office
Ty Croes Bach Rhiw Pwllheli Gwynedd
Trustees
Mrs P D Davies-Hughes Trustee Miss M L Jones Trustee
Independent Examiner
Gwyn Thomas and Co Limited 1 Thomas Buildings New Street Pwllheli Gwynedd LL53 5HH
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Menter Y Felin Uchaf Cyf.
for the Year Ended 31 October 2020
Report of the Trustees
Approved by order of the board of trustees on 26 October 2021 and signed on its behalf by:
Miss M L Jones - Trustee
Page 9
Independent Examiner's Report to the Trustees of Menter Y Felin Uchaf Cyf.
Independent examiner's report to the trustees of Menter Y Felin Uchaf Cyf. ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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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 is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Gwyn Trewren Thomas Chartered Accountant Gwyn Thomas and Co Limited 1 Thomas Buildings New Street Pwllheli Gwynedd LL53 5HH
26 October 2021
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Menter Y Felin Uchaf Cyf.
Statement of Financial Activities for the Year Ended 31 October 2020
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 64,326 Other trading activities 2 11,875 Other income 10,000 Total 86,201 EXPENDITURE ON Raising funds - Other 43,473 Total 43,473 NET INCOME/(EXPENDITURE) 42,728 Transfers between funds 11 1,090 Net movement in funds 43,818 RECONCILIATION OF FUNDS Total funds brought forward 339,793 TOTAL FUNDS CARRIED FORWARD 383,611 |
Restricted funds £ 3,840 - - 3,840 2,750 - 2,750 1,090 (1,090) - - - |
31.10.20 31.10.19 Total Total funds funds £ £ 68,166 35,548 11,875 12,186 10,000 - 90,041 47,734 2,750 19,672 43,473 45,013 46,223 64,685 43,818 (16,951) - - 43,818 (16,951) 339,793 356,744 383,611 339,793 |
|---|---|---|
The notes form part of these financial statements
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Menter Y Felin Uchaf Cyf.
Balance Sheet
31 October 2020
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
Unrestricted funds £ 569,516 1,548 20,049 21,597 (35,984) (14,387) 555,129 (171,518) 383,611 |
Restricted funds £ - - - - - - - - - |
31.10.20 Total funds £ 569,516 1,548 20,049 21,597 (35,984) (14,387) 555,129 (171,518) 383,611 383,611 383,611 |
31.10.19 Total funds £ 592,980 1,548 4,660 6,208 (34,244) (28,036) 564,944 (225,151) 339,793 339,793 339,793 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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...
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Menter Y Felin Uchaf Cyf.
Balance Sheet - continued
31 October 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 26 October 2021 and were signed on its behalf by:
M L Jones - Trustee
The notes form part of these financial statements
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Menter Y Felin Uchaf Cyf.
Notes to the Financial Statements for the Year Ended 31 October 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | - 4% on cost |
|---|---|
| Plant and machinery | - 25% on reducing balance |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Volunteer inputs
The value of any volunteer time is not included in the accounts but is described in the trustee's report.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.10.20 | 31.10.19 | |
| £ | £ | |
| Letting | 11,875 | 12,186 |
continued...
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Menter Y Felin Uchaf Cyf.
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.10.20 | 31.10.19 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 24,592 | 24,422 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
5. TANGIBLE FIXED ASSETS
| Assets Freehold under property construction £ £ COST At 1 November 2019 697,597 380 Additions - - At 31 October 2020 697,597 380 DEPRECIATION At 1 November 2019 106,340 - Charge for year 23,974 - At 31 October 2020 130,314 - NET BOOK VALUE At 31 October 2020 567,283 380 At 31 October 2019 591,257 380 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors |
Plant and machinery £ 15,980 1,128 17,108 15,144 491 15,635 1,473 836 |
Computer equipment £ 6,312 - 6,312 5,805 127 5,932 380 507 31.10.20 £ 1,548 |
Totals £ 720,269 1,128 |
|---|---|---|---|
| 721,397 | |||
| 127,289 24,592 |
|||
| 151,881 | |||
| 569,516 | |||
| 592,980 | |||
| 31.10.19 £ 1,548 |
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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continued...
Menter Y Felin Uchaf Cyf.
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
| 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.10.20 £ Bank loans and overdrafts (see note 9) 7,421 Other loans (see note 9) 25,925 Trade creditors 2,638 35,984 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.10.20 £ Bank loans (see note 9) 171,518 Other loans (see note 9) - 171,518 9. LOANS An analysis of the maturity of loans is given below: 31.10.20 £ Amounts falling due within one year on demand: Bank overdrafts 421 Bank loans 7,000 Other loans 25,925 33,346 Amounts falling between one and two years: Bank loans - 1-2 years 7,000 Amounts falling due between two and five years: Bank loans - 2-5 years 21,000 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 143,518 Other loans more 5yrs instal - 143,518 |
31.10.19 £ 7,000 25,925 1,319 34,244 31.10.19 £ 171,151 54,000 |
|---|---|
| 225,151 | |
| 31.10.19 £ - 7,000 25,925 |
|
| 32,925 | |
| 7,000 | |
| 21,000 | |
| 143,151 54,000 197,151 |
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continued...
Menter Y Felin Uchaf Cyf.
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
10. SECURED DEBTS
The following secured debts are included within creditors:
| 31.10.20 | 31.10.19 | |
|---|---|---|
| £ | £ | |
| Bank loans | 178,518 | 178,151 |
The property known as Felin Uchaf and adjoining land is subject to mortgage charge. Given that the property has been owned since 2008 and has been improved, the loan is believed to represent less than 75% of the value of the property.
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund Capital Grants Fund Restricted funds Various TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund Capital Grants Fund Restricted funds Various TOTAL FUNDS |
At 1.11.19 £ 24,180 315,613 339,793 - 339,793 follows: |
Net movement in funds £ 56,545 (13,817) 42,728 1,090 43,818 Incoming resources £ 86,201 - 86,201 3,840 90,041 |
Transfers between At funds 31.10.20 £ £ 1,090 81,815 - 301,796 1,090 383,611 (1,090) - - 383,611 Resources Movement expended in funds £ £ (29,656) 56,545 (13,817) (13,817) (43,473) 42,728 (2,750) 1,090 (46,223) 43,818 |
|---|---|---|---|
continued...
Page 17
Menter Y Felin Uchaf Cyf.
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.11.18 £ Unrestricted funds General fund 27,314 Capital Grants Fund 329,430 356,744 TOTAL FUNDS 356,744 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 29,234 Capital Grants Fund - 29,234 Restricted funds Various 18,500 TOTAL FUNDS 47,734 |
Net movement At in funds 31.10.19 £ £ (3,134) 24,180 (13,817) 315,613 (16,951) 339,793 (16,951) 339,793 Resources Movement expended in funds £ £ (32,368) (3,134) (13,817) (13,817) (46,185) (16,951) (18,500) - (64,685) (16,951) |
|---|---|
Transfers between funds
The surpluses on restricted funds received in previous years have been transferred to general fund where the works have been completed and the grant terms satisfied. Depreciation on the completed project assets is charged against unrestricted funds and the annual amount transferred from the capital grants fund.
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2020.
Page 18
Menter Y Felin Uchaf Cyf.
Detailed Statement of Financial Activities for the Year Ended 31 October 2020
| Detailed Statement of Financial Activities for the Year Ended 31 October 2020 |
||
|---|---|---|
| 31.10.20 | 31.10.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 64,326 | 17,048 |
| Grants | 3,840 | 18,500 |
| 68,166 | 35,548 | |
| Other trading activities | ||
| Letting | 11,875 | 12,186 |
| Other income | ||
| Exceptional items | 10,000 | - |
| Total incoming resources | 90,041 | 47,734 |
| EXPENDITURE | ||
| Other trading activities | ||
| Tutor and training fees | 2,750 | 19,672 |
| Other | ||
| Freehold property | 23,974 | 23,974 |
| Plant and machinery | 491 | 279 |
| Computer equipment | 127 | 169 |
| 24,592 | 24,422 | |
| Support costs | ||
| Management | ||
| Rates and water | 193 | 189 |
| Insurance | 518 | 497 |
| Light and heat | 1,204 | 648 |
| Telephone | 962 | 1,388 |
| Postage and stationery | 453 | 432 |
| Advertising | 869 | 412 |
| Sundries | 501 | 926 |
| Volunteer expenses | 498 | 684 |
| Motor expenses | 434 | 988 |
| Repairs and renewals | 3,122 | 3,800 |
| 8,754 | 9,964 | |
| Finance | ||
| Bank charges | 274 | 138 |
| Other | ||
| Mortgage | 8,533 | 9,169 |
| Governance costs | ||
| Accountancy and legal fees | 1,320 | 1,320 |
This page does not form part of the statutory financial statements
Page 19
Menter Y Felin Uchaf Cyf.
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 October 2020 | ||
| 31.10.20 | 31.10.19 | |
| £ | £ | |
| Total resources expended | 46,223 | 64,685 |
| Net income/(expenditure) | 43,818 | (16,951) |
This page does not form part of the statutory financial statements
Page 20