2021-03-31-accounts

REFERENCE AND	REFERENCE AND	ADMINISTRATIVE	ADMINISTRATIVE	ADMINISTRATIVE	DETAILS
Registered	Company		number
07698413(England		and Wales)
Registered	Charity	number
1143409
Registered	office
JR House D6
Main Avenue
Treforest Industrial		Estate
PONTYPRIDD
CF375UR
Trustees
KWalters					Chair (until	8 April 2021)
S Humphreys					Chair (from 8 April 2021)		Appointed	9June 2020
N J Evans					Vice Chair		Appointed	28 April 2020
JBrencher
S L Erickson							Resigned	15December 2020
DJ Hughes							Resigned	8July 2020
PW Hughes							Appointed	28 April 2020
Senior management
JAngharad					Project Leader
H Hitchins					Company	Manager
SJones					Executive	Assistant
Auditors
Watts Gregory LLP
Chartered Accountants			8 Statutory	Auditors
Elfed House
Oak Tree Court
Cardiff Gate	Business		Park
CARDIFF
County ofCardiff
CF238RS
Bankers
Unity Trust Bank Pic
Nine Brindley Place
Birmingham
B12HB

					2021	2020
			Unrestricted	Restricted	Total	Total
			fund	funds	funds	funds
		Notes	f		E
INCOME AND ENDOWMENTS	FROM
Donations and legacies				2,008,120	2,008,120	448,361
EXPENDITURE ON
Raising funds				1,200	1,200
Charitable activities
Charitable activities			13,472	41,598	55,070	64,189
Exceptional cost: Loss on disposal offreehold		10				532,800
property
Total			13,472	42,798	56,270	596,989
NET INCOME/(EXPENDITURE)			(13,472)	1,965,322	1,951,850	(148,628)
RECONCILIATION OF FUNDS
Total funds brought forward			28,487	1,424,412	1,452,899	1,601,527
TOTAL FUNDS CARRIED FORWARD			15,015	3,389,734	3,404,749	1,452,899

				2021	2020
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes	F	F	f	E
FIXEDASSETS
Tangible assets	12		3,020,551	3,020,551	1,314,930
CURRENT ASSETS
Debtors	13	72,868	99,752	172,620	365,825
Cash at bank and in hand		(54,119)	467,714	413,595	21,479
		18,749	567,466	586,215	387.304
CREDITORS
Amounts falling due within one year	14	(3,734)	(198,283)	(202,017)	(249,335)
NET CURRENT ASSETS		15,015	369,183	384,198	137,969
TOTAL ASSETSLESSCURRENT LIABILITIES		15,015	3,389,734	3,404,749	1,452,899
NET ASSETS		15,015	3,389,734	3,404,749	1,452,899
FUNDS	15
Unrestricted funds				15,015	28,487
Restricted funds				3,389,734	1,424,412
TOTAL FUNDS				3,404,749	1,452,899

					2021	2020
				Notes
Cash flows from operating		activities
Cash generated from operations Interest paid					2,097,927 ~190	1,227,167 ~126
Net cash provided by operating activities					2,097,737	1,227,041
Cash flows from investing		activities
Purchase oftangible fixed assets					1,705,621	1,314,930
Net cash used in investing	activities				~1,705,621)	~1,314,930)
Change in cash and cash		equivalents	in
the reporting period					392,116	(87,889)
Cash and cash equivalents		at the
beginning ofthe reporting		period			21,479	109,368
Cash and cash equivalents		at the end	of
the reporting period					413,595	21,479

	RECONCILIATION	OF NET INCOME/(EXPENDITURE)	OF NET INCOME/(EXPENDITURE)	OF NET INCOME/(EXPENDITURE)	TO NET	CASH FLOW	FROM OPERATING	FROM OPERATING
	ACTIVITIES
							2021	2020
							f	F
	Net income/(expenditure)		for the reporting	period (as	per the
	Statement ofFinancial Activities)						1,951,850	(148,628)
	Adjustments for:
	Depreciation charges							9,594
	Loss on disposal of	fixed assets						493,670
	Interest paid						190	126
	Decrease in debtors (Decrease)/increase	in creditors					193,205 ~47,318	645,176 227,229
	Net cash provided	by operations					2,097,927	1,227,167
2.	ANALYSIS OF CHANGES		IN NET FUNDS
						At 1/4/20	Cash flow	At 31/3/21
						F		f
	Net cash
	Cash at bank and in	hand				21,479	392,116	413,595
						21,479	392,116	413,595
	Total					21 478	392,116	413,595

3.	DONATIO		NS AND	LEG	ACIES
							2021	2020
							P	F
	Donations							50
	Grants						2,008,120	448,311
							2,D08,120	448,361
	Grants received, included				in the above, are as follows:
							2021	2020f
	Children	in Need					45,031	45,031
	Arts Council Wales						1,060,114	94,283
	Rhondda	Cynon Taf County Borough Council					897,000	308,997
	The Cadenza Partnership						5,975
							2,008,120	448,311
4.	RAISING	FUNDS
	Raising donations			and	legacies
							2021	2020
							F	F
	Fundraising		support				1,200
5.	CHARITABLE ACTIVITIES COSTS
							Support
						Direct	costs (see
						Costs F	note 6)	Totals f
	Charitable		activities			51,670	3,400	55,070
6.	SUPPORT		COSTS
							Governance
						Other	costs	Totals
	Charitable		activities			450	2,950	3,400

Net income/(e	xpenditure) is stated after charging/(crediting):
		2021	2020
Auditors' remuneration		2,950
Depreciation	- owned assets		9,594
Independent	examiner's fee		1,190
Independent	examiner - other services		1,300

STAFF COSTS
			2021	2020
Wages and salaries			30,179	32,449
Social security costs			656
Other pension costs			753	745
			31,588	33,194
The average monthly	number ofemployees	during the year was as follows:
			2021	2020
Average no ofemployees			3	4

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES —YEAR				ENDED 31 MARCH 2020
				Unrestricted	Restricted	Total
				fund	funds	fundsf
	INCOME AND ENDOWMENTS		FROM
	Donations and legacies			50	448,311	448,361
	EXPENDITURE ON
	Charitable activities
	Charitable activities			24,993	39,196	64,189
	Other			532,800		532,800
	Total			557,793	39,196	596,989
	NET INCOME/(EXPENDITURE)			(557,743)	409,115	(148,628)
	Transfers between	funds		1,348	1 348
	Net movement in funds			(556,395)	407,767	(148,628)
	RECONCILIATION	OF FUNDS
	Total funds brought forward			584,882	1,016,645	1,601,527
	TOTAL FUNDS CARRIED FORWARD			28,487	1,424,412	1,482,888
12.	TANGIBLE FIXEDASSETS
						Long
						leasehold
						property
						improvements f
	COST
	At 1 April 2020					1,314,930
	Additions					1,705,621
	At 31 March 2021					3,020,551
	NET BOOK VALUE
	At 31 March 2021					3,020,551
	At 31 March 2020					1,314,930

13.	DEBTORS:AMOUNTS	DEBTORS:AMOUNTS	FALLING	DUE WITHIN ONE YEAR
						2021 f	2020 f
	VAT					68,036	50,140
	Other debtors					102	102
	Prepayments	and accrued income				104,482	315,583
						172,620	365,825
14.	CREDITORS:	AMOUNTS FALLING DUE WITHIN ONE YEAR
						2021	2020 f
	Trade creditors					1,440	223,927
	Social security and other Other creditors		taxes			157	157 116
	Accruals					200,420	25,135
						202,017	249,335
15.	NIOVEMENT	IN FUNDS
						Net
						movement	At
					At 1/4/20	in funds f	31/3/21
	Unrestricted	funds
	General fund				28,487	(13,472)	15,015
	Restricted funds
	Building Redevelopment				1,410,134	1,950,514	3,360,648
	Our Place Project				11,349	12,102	23,451
	BBCComic Relief —Arts		and Dance Classes		929		929
	Business plan				2,000		2,000
	BeCollective	Project				2,706	2,706
					1,424,412	1,965,322	3,389,734
	TOTAL FUNDS				1,452,899	1,951,850	3,404,749
	Net movement	in funds,	induded	in the above are as follows:
					Incoming	Resources	Movement
					resources f	expended	in funds f
	Unrestricted	funds
	General fund					(13,472)	(13,472)
	Restricted funds
	Building Redevelopment				1,957,114	(6,600)	1,950,514
	Our Place Project BeCollective Project				45,031 5,975	(32,929) ~3,269)	12,102 2,706
					2,008,120	42,798	1,965,322
	TOTAL FUNDS				2.006,120	~56,270)	1,951,850

2021	2020
1,621,321	3,204,026