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2021-09-30-accounts

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras

Charity No. 1137744

Company No. 07217979

Trustees' Report and Unaudited Accounts

30 September 2021

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Contents

Pages
Trustees' Annual Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Summary Income and Expenditure Account 7
Balance Sheet 8
Notes to the Accounts 9 to 14
Detailed Statement of Financial Activities 15 to 16

Page 1

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Trustees Annual Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 September 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 07217979

Charity No. 1137744

Principal Office

C/O 5 Bradenham Place Penarth CF64 2AG

Registered Office

3 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

Lisa Cordery-Bruce Gianpiero Molinu Claire Thomas Daniel Walsh

Accountants

Naunton Jones Le Masurier 24 St Andrews Crescent Cardiff CF10 3DD

Bankers

The Co-operative Bank PO Box 250 Skelmersdale WN8 6WT

OBJECTIVES AND ACTIVITIES

Pride Cymru has been running since 2000 and until 2010 was run as a subsidiary activity of the charity 'Safer Wales'. In 2010 Pride Cymru became a charity in and limited company in its own right, establishing itself as a charity with the following objectives:

Page 2

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Trustees Annual Report

a: Elimination of discrimination on the grounds of sexual orientation, gender, race or religion b:Raising awareness of equality and diversity through an arts festival. c: Creating a sentiment in favour of equality and diversity.

On a day to day basis Pride Cymru is managed by a team of volunteers who fulfil a number of roles including :-

Chairman

The Board Event Director Deputy Event Director Markets Manager Sponsorship Manager Volunteers Manager Entertainment Manager Family & Youth Manager Access Manager Marketing & PR Manager

A number of these post holders are also trustees of the organisation. In order to deliver the charitable objectives the committee is supported by a team of approximately 40 volunteers. The management team of the organisation meet on a monthly basis with the trustees meeting separately on a bi-monthly basis. There are no sub-committees to the board. The Directors have referred to the guidance contained in the charity commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Directors consider how planned activities will contribute to the aims and objectives that have been set.

ACHIEVEMENTS AND PERFORMANCE

The financial statements for the year ended 30th September 2021 show a profit of £13,602. The trustees recognise a number of key achievements in 2020/21 and these include:-

Due to Covid, there was no physical event in 2020 or 2021, so there was no parade or paid event income in these years. Revenue in 2020/2021was by way of donations and funding from various projects. The board would like to express its thanks to the following for their support:

Admiral, Big Lottery fund, National Heritage and all the Pride Cymru Volunteers.

FINANCIAL REVIEW

The organisation commenced the year with a profit of £49,568, the operating performance of the charity is set out on pages 6 to 17. The Trustees recognise the need to manage the key financial risks. The key risks are identified as follows:- (a) Potential reduction in support from the public sector. (b) Non-expansion in diversity of income base. (c) Ensuring that the event carries appropriate messaging to meet our charitable objectives; and (d) To reduce the weather dependency of the main event.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The founding Trustees of the organisation were recruited from the committee members that developed the organisation prior to 2010 under the management of Safer Wales. Management committee volunteers are recruited on a skills and experience basis. All applicants are required to complete an application form describing the expertise they can contribute to the board. A prospective applicant then typically meets with a minimum of two Trustees to discuss the application. The applicant may also attend a Board meeting as an observer.

Page 3

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Trustees Annual Report

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees ( who are also directors of Pride Cymru for the purpose of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (UK GAAP). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:(a) select suitable accounting policies and then apply them consistently, (b) observe the methods and principles in the charities SORP, (c) state whether the applicable UK accounting standards have been followed, subject to any material departures and explained in the financial statements, (d) make judgements and estimates that are reasonable and prudent, (e) prepare the financial statements on the going concern basis unless it is appropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislationin other jurisdictions.

This report has been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

In planning our activities for the period we kept in mind the Charity Commissions guidance on public benefit at our Trustees' meetings.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

Gianpiero Molinu Trustee 30 June 2022

Page 4

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Independent Examiners Report

Independent Examiner's Report to the trustees of Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras

I report to the charity trustees on my examination of the accounts of Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras for the year ended 30 September 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (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 charity 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

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.

Caroline Candy FCCA Naunton Jones Le Masurier 24 St Andrews Crescent Cardiff

CF10 3DD 30 June 2022

Page 5

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Statement of Financial Activities

for the year ended 30 September 2021

Notes
Income and endowments
from:
Charitable activities
4
Other trading activities
5
Total
Expenditure on:
Charitable activities
6
Other
7
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricte
d funds
2021
£
38,400
-		 Restricted
funds
2021
£
-
66,181		 Total funds
2021
£
38,400
66,181		 Total funds
2020
£
30,173
107,498
38,400
21,807
69,677		 66,181
-
-		 104,581
21,807
69,677		 137,671
26,400
78,531
91,484
-		 -
-		 91,484
-		 104,931
-
(53,084)
-		 66,181
-		 13,097
-		 32,740
-
(53,084) 66,181 13,097 32,740
(53,084)
49,568		 66,181
-		 13,097
49,568		 32,740
16,828
(3,516) 66,181 62,665 49,568

Page 6

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Summary Income and Expenditure Account

for the year ended 30 September 2021

Income
Gross income for the year
Expenditure
Interest payable
Total expenditure for the year
Net income before tax for the year
Net income for the year		 2021
£
104,581
104,581
91,484
-
91,484
13,097
13,097		 2020
£
137,671
137,671
104,821
110
104,931
32,740
32,740

Page 7

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Balance Sheet

at 30 September 2021

Company No.
07217979
Notes
2021
£
Current assets
Debtors
9
26,083
Cash at bank and in hand
85,878
111,961
Creditors:Amount falling due within one year
10
(41,715)
Net current assets
70,246
Total assets less current liabilities
70,246
Creditors:Amounts falling due after more than one year
11
(7,581)
Net assets excluding pension asset or liability
62,665
Total net assets
62,665
The funds of the charity
Restricted funds
12
Restricted income funds
66,181
66,181
Unrestricted funds
12
General funds
(3,516)
(3,516)
Reserves
12
Total funds
62,665		 2020
£
39,938
64,960
104,898
(55,330)
49,568
49,568
-
49,568
49,568
-
-
49,568
49,568
49,568

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 30 September 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 30 June 2022

And signed on its behalf by:

Gianpiero Molinu Trustee 30 June 2022

Page 8

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Notes to the Accounts

for the year ended 30 September 2021

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Page 9

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 10

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 11

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Notes to the Accounts

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year
Income and endowments from:
Charitable activities
Other trading activities
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from charitable activities
5
Income from other trading activities		 Unrestricted
£
38,400
38,400
Restricted
£
66,181
66,181		 Unrestricted
funds
2020
£
30,173
107,498
137,671
26,400
78,531
104,931
32,740
32,740
32,740
16,828
49,568
Total
2021
£
38,400
38,400
Total
2021
£
66,181
66,181		 Total funds
2020
£
30,173
107,498
137,671
26,400
78,531
104,931
32,740
32,740
32,740
16,828
49,568
Total
2020
£
30,173
30,173
Total
2020
£
107,498
107,498

Page 12

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Notes to the Accounts

6 Expenditure on charitable activities

6
Expenditure on charitable activities
Expenditure on charitable
activities
Governance costs
7
Other expenditure
Other interest payable
Employee costs
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs
8
Staff costs
Salaries and wages
Pension costs
No employee received emoluments in excess of £60,000.
9
Debtors
Trade debtors
Other debtors
10 Creditors:
amounts falling due within one year
Other loans
Trade creditors
Other taxes and social security
Accruals and deferred income		 Unrestricted
£
21,807
21,807
Unrestricted
£
-
47,839
456
3,623
8,247
9,512
69,677
46,861
978
47,839
2021
£
608
25,475
26,083
2021
£
2,019
5,252
30,124
4,320
41,715		 Total
2021
£
21,807
21,807
Total
2021
£
-
47,839
456
3,623
8,247
9,512
69,677		 Total
2020
£
26,400
26,400
Total
2020
£
110
43,757
645
3,694
11,844
18,481
78,531
41,830
1,927
43,757
2020
£
14,463
25,475
39,938
2020
£
-
8,250
42,760
4,320
55,330

Page 13

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Notes to the Accounts

Notes to the Accounts
11 Creditors:
amounts falling due after more than one
year
Other loans		 2021
£
7,581
7,581		 2020
£
-
-
12 Movement in funds
Restricted funds:
Restricted income funds:
Total
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
13 Analysis of net assets between funds
Net current assets
Creditors due in more than one year and
provisions		 At 1 October
2020
-		 Incoming
resources
(including
other
gains/losses)
£
66,181
66,181
38,400
104,581		 Resources
expended
£
-
-
(91,484)
(91,484)
Unrestricted
funds
£
70,246
(7,581)
62,665		 At 30
September
2021
£
66,181
- 66,181
49,568 (3,516)
49,568 62,665
Total
£
70,246
(7,581)
62,665

14 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company. The Guarantors are the Trustees as set out on page 2. The liability is limited to an amount of £1 per member in accordance with the organisations memorandum of articles of association.

Page 14

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Detailed Statement of Financial Activities

for the year ended 30 September 2021

Income and endowments from:
Charitable activities
Other trading activities
Total income and endowments
Expenditure on:
Charitable activities
Total of expenditure on charitable
activities
Other expenditure
Other interest payable
Employee costs
Salaries/wages
Pension costs
Motor and travel costs
Travel and subsistence
Premises costs
Rent
General administrative costs,
including depreciation and
amortisation
Bank charges
General insurances
Information and publications
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses		 Unrestricte
d funds
2021
£
38,400
38,400
-
-
38,400
21,807
21,807
21,807
-
-
46,861
978
47,839
456
456
3,623
3,623
-
1,603
698
4,744
29
511
662
8,247		 Restricted
funds
2021
£
-
-
66,181
66,181
66,181
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2021
£
38,400
38,400
66,181
66,181
104,581
21,807
21,807
21,807
-
-
46,861
978
47,839
456
456
3,623
3,623
-
1,603
698
4,744
29
511
662
8,247		 Total funds
2020
£
30,173
30,173
107,498
107,498
137,671
26,400
26,400
26,400
110
110
41,830
1,927
43,757
645
645
3,694
3,694
16
639
479
5,334
2,807
1,571
998
11,844

Page 15

Cardiff Wales Lesbian Gay Bisexual Transgender Mardi Gras Detailed Statement of Financial Activities

Legal and professional costs
Accountancy and bookkeeping
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 1,800
7,712
9,512
69,677
91,484
-
(53,084)
(53,084)
-
(53,084)
49,568
(3,516)		 -
-
-
-
-
-
66,181
66,181
-
66,181
-
66,181		 1,800
7,712
9,512
69,677
91,484
-
13,097
13,097
-
13,097
49,568
62,665		 1,800
16,681
18,481
78,531
104,931
-
32,740
32,740
-
32,740
16,828
49,568

Page 16