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|||||||||PAGE|
|---|---|---|---|---|---|---|---|---|
|Trustees'|annual
report (incorporating|||the|director's|report)|||
|Independent
auditor's||report to|the members||||||
|Statement|offinancial|activities|(including||income and expenditure||account)||
|Statement|of financial|position||||||12|
|Statement|ofcash flows|||||||13|
|Notes to|the finandal|statements||||||14|
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||||||2023|2023|2022|
|---|---|---|---|---|---|---|---|
||||||Unrestricted|||
||||||funds|Total funds|Total funds|
|||||Note|E|E|I|
|Income and endowments||||||||
|Donations
and legacies|||||1,342,273|1,342,273|1,593,687|
|Charitable
activibes|||||||45,000|
|Investment
income|||||57|57|20|
|Total income|||||1,342,330|1,342,330|1,638,707|
|Expenditure||||||||
|Expenditure
on charitable||activities||8~9|(1494 233)|(1494233)|(1378 144)|
|Total expenditure|||||(1,494,233)|(1,494,233)|(1,378,144)|
|Net losses on investments|||||(34,277)|(34,277)|(180)|
|Net (expenditure)/income|||and net movement|in funds|(186,180)|(186,180)|260,383|
|Reconciliation
of|funds|||||||
|Total funds brought|forward||||1,050,972|1,050,972|790,589|
|Total funds carried forward|||||864,792|864,792|1,050,972|
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|STATEMENT OF FI
31March 2023|NANCIAL POS|ITION||||
|---|---|---|---|---|---|
|||||2023|2022|
||||Note|I|6|
|FIXEDASSETS||||||
|Targibb. lixed ass,ls
N xed motive invcotnxncs|||16|39,693
122,44G|50,177
156,724|
|||||16?,329|206,901|
|CURRENT ASSETS||||||
|Debtors|||1S|'l21.931|641,471|
|Cash at bunk and
n land||||30G,920|494.194|
|||||728,651|1,135,665|
|CREDITORS: amounts|falling due vvlthln|one year|19|f76,3HS',|(291,6594)|
|NET CURRENT ASSETS||||702,463|044,071|
|TOTAL ASSETS LESSCURRENT LIASILITIES||||Gfvt,797|1,050,972|
|NET ASSETS||||Gfvt,792|I,050,'372|
|FIINDS OFTHE CHARITY||||||
|Unrt oricted funds||||064,792|I,050,972|
|Total charity funds|||21|8&1,797|1,050,972|
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|STATEMENT OF CASH FLOWS
Year ended 31March 2023|||
|---|---|---|
||2023|2022|
||E|E|
|CASH FLOWS FROM OPERATING ACTIVITIES|||
|Net (expenditure)/income|(186,180)|260,383|
|Ad/rrshrrents
for:|||
|Depreciation
of tangible
fixed assets|14,092|9,680|
|Net losses on investments|34,278|179|
|Other interest
receivable
and similar income|(57)|(20)|
|Loss on disposal of heritage assets|316||
|Accrued expenses/(income)|227,834|(427,338)|
|Changesin:|||
|Trade and other debtors|(3,654)|(782)|
|Trade and other creditors|(269,846)|(11,699)|
|Cash generated
from operations|(183,217)|(169,597)|
|Interest received|57|20|
|Net cash used in operating
activities|(183,160)|(169,577)|
|CASH FLOWS FROM INVESTING ACTIVITIES|||
|Purchase of tangible
assets|('i,114)|(30,608)|
|Net cash used
in investing
adivities|(4,114)|(30,608)|
|NET DECREASE IN CASH AND CASH EQUIVALENTS|(187,274)|(200,185)|
|CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR|494,194|694,379|
|CASH AND CASH EQUIVALENTS AT END OF YEAR|306,920|494,194|
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|S.|DONATIO|NS
AND LEGACIE|S|||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds
I|2023
E|Funds
I|2022
E|
||DONATIONS|||||||
||Donations|||2,500|2,500|882,544|882,544|
||Donations|- Alacrity Cyber||266,667|266I667|500,000|500,000|
||Donations|—DCAR Monmouthshire||416,672|416,672|170,143|170,143|
||Donations|- Grow Digital||16,000|16,000|16,000|16,000|
||Donations|- 12I||130,629|130,629|25,000|25,000|
||Donations|- Media C||332,761|332,761|||
||Donations|- Cyber Innovation|Hub|146,207|146,207|||
||Donadons|- SPF Monmouthshire||30,837|30,837|||
|||||1,342,273|1,342,273|1,593,687|1,593,687|
|6.|CHARITABLE ACTIVITIES|||||||
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds
I|2023
E|Funds
6|2022
E|
||Other income from charitable||activities|||45,000|45,000|
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|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|---|
|||||Funds|2023|Funds|2022|
|||||E|E|E|E|
|Bank interest||receivable||57|57|20|20|
|EXPENDITURE|||ON CHARITABLE|ACTIVITIES BYFUND TYPE||||
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds
I|2023
E|Funds
E|2022
E|
|Direct costs||||1,178,681|1,178,681|986,169|986,169|
|Support costs||||315,552|315,552|391,975|391,975|
|||||1,494,233|1,494,233|1,378,144|1,378,144|
|EXPENDITU|R|E|ON CHARITABLE|ACTIVITIES BYACTIVITY TYPE||||
|||||Activities||||
|||||undertaken||Total funds|Totalfund|
|||||directly|Support costs|2023|2022|
|||||E|E|E|E|
|Direct costs||||1,178,681|310,049|1,488,730|1,373,848|
|Governance|costs||||5,503|5,503|4,296|
|||||1,178,681|315,552|1,494,233|1,378,144|
|ANALYSIS OF|||SUPPORT COSTS|||||
||||||Booteemp|Tote I2023|Total 2022|
||||||E|E|E|
|Staff costs|||||154,563|154,563|205,139|
|Premises|||||58,868|58,868|53,401|
|Communications|||and IT||50,085|50,085|79,463|
|General office|||||15,246|15,246|23,057|
|Legal and professional|||||17,321|17,321|17,911|
|Motor and travel|||||5,061|5,061|3323|
|Depreciabon|||||14,091|14,091|9,681|
||||||315,235|315,235|391,975|
|NET LOSSES||ON INVESTMENTS||||||
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds|2023|Funds|2022|
||||||E|E|E|
|Gains/(losses)||on other investment||||||
|assets||||(34,277)|(34,277)|(180)|(180)|
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|12.|NET (EXPENDITURE)/|NET (EXPENDITURE)/|INCOME||||
|---|---|---|---|---|---|---|
||Net (expenditure)/income||is stated atter|charging/(crediting):|||
||||||2023|2022|
||||||E|E|
||Depredation|oftangible|fixed assets||14,092|9,680|
||Loss on disposal of heritage assets||||315||
|13.|AUDITORS|REMUNERATION|||||
||||||2023|2022|
||||||E|E|
||Fees payable|for the audit ofthe financial||statements|5,500|4,300|
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|STAFF COSTS|||||
|---|---|---|---|---|
|The total staff costs and employee|benefits for the reporting|period are analysed|as follows:||
||||2023|2022|
||||E|E|
|Wages and salaries||449,832||357,235|
|Sodal security costs|||37,898|32,677|
|||487,730||389,912|
|time equi|valent
employees|during the year is a|nalysed
as follows:|nalysed
as follows:||
|---|---|---|---|---|---|
||||2023||2022|
||||No.||No.|
|Number|ofstaff - management|||4||
|Number|ofstaff - administrative|||2|2|
|||||6|6|
|The number ofemployees||whose remuneration|for the year fell within the following|bands,|were:|
||||2023||2022|
||||No.||No.|
|f60,000|to 669,999|||1|1|
|f90,000|to 699,999|||1|1|
|||||2|2|
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|16.|TANGIBLE FI|XEDASSETS||||
|---|---|---|---|---|---|
||||Fixtures and|||
||||fittings|Equipment|Total|
||||6|E|E|
||Cost|||||
||At 1 April 2022||42,972|38,416|81,388|
||Additions||155|3,959|4,114|
||Disposals||(112)|(2,555)|(2,667)|
||At 31March|2023|'l3,015|39,820|82,835|
||Depreciation|||||
||At 1April 2022||5,007|26,204|31,211|
||Charge for the|year|6,369|7,723|14,092|
||Disposals||(67)|(2,284)|(2,351)|
||At 31March|2023|11,309|31,643|42,952|
||Carrying
amount
At 31March 2023||31,706|8,177|39,883|
||At 31 March 2022||37,965|12,212|50,177|
|17.|MIXED MOTIVE INVESTMENTS|||||
||||||Spin-off|
||||||investments|
||Cost|||||
||At 1 April 2022||||210,000|
||Disposals||||(15,000)|
||At 31March|2023|||195,000|
||Impairment|||||
||At 1April 2022||||(53,276)|
||Disposals||||15,000|
||Impairment
losses||||(37,587)|
||Reversal of impairments||||3,309|
||At 31March|2023|||(72,554)|
||Carrying
amount|||||
||At 31March|2023|||122,446|
|18.|DEBTORS|||||
|||||2023|2022|
|||||E|E|
||Prepayments
and accrued income|||421,931|641,471|
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|19.|CREDIT|ORS: a|mount|s
falling due within one ye|ar||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||E|E|
||Accruals|and deferred||income|17,766|279,793|
||Sodal security and other taxes||||8,622|11,801|
||||||26,388|291,594|
|20.|DEFERRED INCOME||||||
||||||2023|2022|
||||||E|E|
||At 1April 2022||||266,667|266,667|
||Amount|released|to income||(266,667)|(266,667)|
||Amount|deferred|ln year|||266,667|
||At 31March 2023|||||266,667|
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|Unrestr|icted
funds||||||
|---|---|---|---|---|---|---|
|||At 1|||Gains and|At 31|
|||April 2022
E|Income
E|Expenditure
E|losses
E|March 2023
I|
|General|funds|1,050,972|1,342,330|(1,494,233)|(34,277)|864,792|
|||At 1|||Gains and|At 31|
|||April 2021|Income|Expenditure|losses|March 2022|
|||E|E|E|E|E|
|General|funds|790,589|1.,638,707|(1,378,144)|(180)|1,050,972|
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|ANALY|SIS OF NET ASSETS BETWEEN FUNDS|||
|---|---|---|---|
|||Unrestricted|Total Funds|
|||Funds|2023|
|||E|E|
|Tangible|fixed assets|39,883|39,883|
|Investments||122,446|122,446|
|Current|assets|728I852|728,852|
|Creditors|less than 1year|(26,389)|(26,389)|
|Net assets||864,792|864,792|
|||Unrestricted|Total Funds|
|||Funds|2022|
||||E|
|Tangible|fixed assets|50,177|50,177|
|Invesiments||156,724|156,724|
|Current|assets|1,135,665|1,135,665|
|Creditors|less than 1year|(291I594)|(291,594)|
|Net assets||1~050~972|1(050~972|
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|ANA|LY|SIS O|F C|HA|NGES IN NET DEBT||||
|---|---|---|---|---|---|---|---|---|
|||||||At 1||At 31|
|||||||Apr 2022|Cash flows|Mar 2023|
|||||||E|E|E|
|Cash|at|bank|and|in|hand|494,194|(187,274)|306,920|