|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|4|
|Report ofthe Independent
Auditors|5|to|7|
|Statement ofFinancial Activities||||
|Balance Sheet||||
|Cash Flow Statement||||
|Notes to the Cash Flow Statement||||
|Notes to the Financial Statements|12|to|26|
|Detailed Statement ofFinancial Activities|27|to|28|
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|Registered
Charity nu
1144524|mber||
|---|---|---|
|Registered office|||
|Hay Castle|||
|Oxford Road|||
|HAY-ON-WYE|||
|HR3 5DG|||
|Trustees|||
|JTAlbert|Resigned|15/10/21|
|L Cooke|Resigned|21/04/21|
|P Greatbatch|||
|E Haycox|||
|R L Hughes
E0 H Fox|||
|SMalthouse|||
|C Fyles|Appointed|02/06/20|
|S Purse|Appointed|23/10/20|
|F Howard|Appointed|23/10/20|
|J Bennett|Appointed|16/07/21|
|C Peace|Appointed|16/07/21|
|A Sherwood|Appointed|15/10/21|
##
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##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
||||Notes|funds
F|funds
F|funds
E|fundsf|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies||||156,503|1,374,403|1,530,906|1,537,294|
|Trading
activities||||6,828||6,828|24,200|
|Investment
income||||68||68|432|
|Total||||163,399|1,374,403|1,537,802|1,561,926|
|EXPENDITURE ON||||||||
|Raising funds||||4,428||4,428|27,793|
|Charitable
activities||||||||
|Preservation
ofthe|heritage of|Hay Castle||47,327|40,111|87,438|80,093|
|Total||||51,755|40,111|91,866|107,886|
|NET INCOME||||111,644|1,334,292|1,445,936|1,454,040|
|Transfers
between|funds||21|1,352,408|~1,352,408|||
|Net movement
in funds||||1,464,052|(18,116)|1,445,936|1,454,040|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought forward||||6,679,002|261,319|6,940,321|5,486,281|
|TOTAL FUNDS CARRIED FORWARD||||8,143,054|243,203|8,386,257|6,940,321|
##
|||||2021|2020|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes|||||
|FIXEDASSETS||||||
|Tangible assets
Heritage assets|14
15|8,706,444
5,700||8,706,444
5,700|6,843,872|
|Investments|16|1||1|1|
|||8,712,145||8,712,145|6,843,873|
|CURRENT ASSETS||||||
|Debtors
Cash at bank and in hand|17|37,962
104,349|473,565
114,232|511,527
218,581|309,920
203,133|
|||142,311|587,797|730,108|513,053|
|CREDITORS||||||
|Amounts
falling due within one year|18|(668,902)|(344,594)|(1,013,496)|(416,605)|
|NET CURRENT ASSETS I(LIABILITIES)||~526,591)|243,203|~283,388)|96,448|
|TOTAL ASSETSLESSCURRENT LIABILITIES||8,185,554|243,203|8,428,757|6,940,321|
|CREDITORS||||||
|Amounts
falling due after more than one year|19|(42,500)||(42,500)||
|NET ASSETS||8,143,054|243,203|8,386,257|6,940,321|
|FUNDS|21|||||
|Unrestricted
funds
Restricted funds||||8,143,054
243,203|6,679,002
261,319|
|TOTAL FUNDS||||8,386,257|6,940,321|
##
||||2021|2020|
|---|---|---|---|---|
|||Notes||F|
|Cash flows from operating
activities|||||
|Cash generated
from operations|||1,384,391|1,830,643|
|Net cash provided
by operating
activities|||1,384,391|1,830,643|
|Cash flows from investing
activities|||||
|Purchase oftangible
fixed assets
Purchase ofheritage assets
Purchase offixed asset investments
Interest received|||(1,863,311)
(5,700)
68|(2,028,601)
(1)
432|
|Net cash used
in investing
activities|||~1,868,943)|~2,028,170)|
|Cash flows from financing
activities|||||
|New loans in year|||500,000|200,000|
|Net cash provided
by financing
activities|||500,000|200,000|
|Change
in cash and cash equivalents|in||||
|the reporting
period
Cash and cash equivalents
at the|||15,448|2,473|
|beginning
ofthe reporting
period|||203,133|200,660|
|Cash and cash equivalents
at the end|of||||
|the reporting
period|||218,581|203,133|
##
##
||||2021|2020|
|---|---|---|---|---|
||||F|F|
|Net income for the|reporting|period (as per the Statement of Financial|||
|Activities)|||1,445,936|1,454,040|
|Adjustments
for:|||||
|Depreciation
charges|||739|622|
|Interest received|||(68)|(432)|
|(Increase)/decrease
Increase/(decrease)|in debtors
in creditors||(201,607)
139,391|409,107
~32.694|
|Net cash provided|by operations||1,384,391|1.830,643|
##
|||At 1/5/20|Cash flow|At 30/4/21|
|---|---|---|---|---|
||||F||
|Net cash|||||
|Cash at bank and in hand||203,133|15,448|218,581|
|||203,133|15,448|218,581|
|Debt|||||
|Debts falling due within|1 year|(200,000)|(457,500)|(657,500)|
|Debts falling due after 1 year|||~42,500)|~42.5DD)|
|||~200.000|~500.000|~700,000|
|Total||3,133|)484,552)|~481,41 9)|
##
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##
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##
##
##
##
##
##
##
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##
##
##
##
##
##
|DONATIONS
AND LEG|AC|I|E|S|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||2021|2020|
|Donations|||||||||||21,330|1,631|
|Gift aid tax redaimed|||||||||||2,813|1,830|
|Grants|||||||||||1,502,903|1,530,033|
|Subscriptions|||||||||||3,860|3,800|
||||||||||||1,530,906|1,537.294|
|Grants received,
included|in|the above,||||are as follows:|||||||
||||||||||||2021|2020|
|National
Lottery Heritage|Fund||||||||||1,205,623|1,306,481|
|The Headley Trust||||||||||||10,000|
|Garfield Weston Foundation||||||||||||50,000|
|Clore Duffield Foundation
- Clore Cultural
Esmee Fairbaim
Foundation|||||||Learning|Fund|2020||15,000
53,334|53,333|
|National
Lottery Community||Fund -|||Rural||Programme||||44,740|31,420|
|Welsh Government
- LEADER||||Programme|||||||16,706|29,212|
|Herefordshire
Community|Foundation|||||||||||600|
|Powys County Council||||||||||||2,570|
|Esmee Fairbaim
Foundation|||-|COVID support||||||||26,667|
|Brecon Beacons National|Park|||- Sustainable
Development|||||Fund|||11,000|
|Community
Foundation
Wales||||- Ashley||Family Foundation||||||8,000|
|Oakdale Trust||||||||||||750|
|The Ashley Family Foundation||||- Medieval|||Costume|Community||project|1,500||
|Welsh Government
-Wales||Cultural|||Recovery Fund||||||150,000||
|Powys County Council -|Community||||Development|||Fund|||10,000||
|The Mumford
Memorial Trust|||-|Restoration|||ofthe Dutch Gables||||5,000||
|Powys County Council -|Lockdown||||Business Rates|||grant|||1,000||
||||||||||||1.502,903|1,530.033|
|TRADING ACTIVITIES|||||||||||||
||||||||||||2021|2020|
||||||||||||Z||
|Honesty
bookshop sales
Keepers ofthe Castle fundraising|||||||||||730|2,878
5,000|
|Rental income|||||||||||6,083|7,333|
|Events income||||||||||||8,819|
|Other income|||||||||||15|170|
||||||||||||6,828|24.200|
|INVESTMENT INCOME|||||||||||||
||||||||||||2021|2020|
||||||||||||f.||
|Deposit account interest|||||||||||68|432|
##
##
##
##
##
##
|Raising donations
and legacies|Raising donations
and legacies|Raising donations
and legacies|||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||F|F|
|Consultancy|fees||||3,606|21,255|
|Trading activities|||||||
||||||2021|2020|
|Cost offunctions||and events|||200|5,916|
|Depreciation|||||622|622|
||||||822|6,538|
|Aggregate
amounts|||||4,428|27,793|
|CHARITABLE ACTIVITIES COSTS|||||||
|||||Direct|Support||
|||||Costs (see|costs (see||
|||||note 8)|note 9)|Totals|
||||||F||
|Preservation|ofthe heritage ofHay||||||
|Castle||||42,295|45,143|87,438|
|DIRECT COSTS OF CHARITABLE ACTIVITIES|||||||
||||||2021|2020|
||||||F|F|
|Establishment|costs||||32,308|27,666|
|Postage and|stationery||||500|932|
|Advertising
and promotions|||||852|8,169|
|Repairs and|maintenance||||2,817|1,778|
|Travel|||||116|223|
|Office expenses|||||1,865|919|
|Website costs|||||3,595||
|Bank charges|||||242|277|
||||||~42 295|39,984|
|SUPPORT COSTS|||||||
||||Staff||Governance||
||||costs|Other costs|costs|Totals|
||||||F|F|
|Preservation|ofthe heritage of Hay Castle||29,248|7,461|8,434|45,143|
##
##
##
##
##
|||2021|2020|
|---|---|---|---|
|Wages and salaries||74,142|64,725|
|Social security costs||3,796|3,894|
|Employer
pension costs||1,753|856|
|||79,731|69.475|
|The average number ofemployees|during the year were as follows:|||
|||2021|2020|
|Employees||2|2|
##
||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
|||||Z||
|INCOME|AND ENDOWMENTS|FROM||||
|Donations|and legacies||33,928|1,503,366|1,537,294|
|Trading
activities|||24,200||24,200|
|Investment|income||432||432|
|Total|||58,560|1,503,366|1,561,926|
|EXPENDITURE ON||||||
|Raising funds|||27,793||27,793|
##
##
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds
f|funds|
|Charitable
activities|||||
|Preservation
of|the heritage ofHay Castle|22,288|57,805|80,093|
|Total||50,081|57,805|107,886|
|NET INCOME||8,479|1,445,561|1,454,040|
|Transfers
between funds||1,878,671|~1,878,671||
|Net movement|in funds|1,887,150|(433,110)|1,454,040|
|RECONCILIATION
OF FUNDS|||||
|Total funds brought forward||4,791,852|694,429|5,486,281|
|TOTAL FUNDS|CARRIED FORWARD|6,679,002|261,319|6,940,321|
##
##
|TANGIBLE FIXEDASSE|TS||||||
|---|---|---|---|---|---|---|
|||||Fixtures|||
||Freehold|Plant|and|and|Computer||
||property|machinery||fittings|equipment|Totals|
||F|P||F|||
|COST|||||||
|At 1 May 2020|6,842,419|9,486||6,222|1,424|6,859,551|
|Additions|1,861,196||||2,115|1,863,311|
|At 30April 2021|8,703,615|9,486||6,222|3,539|8,722,862|
|DEPRECIATION|||||||
|At 1 May 2020||9,486||4,769|1,424|15,679|
|Charge for year||||622|117|739|
|At 30 April 2021||9,486||5,391|1,541|16,418|
|NET BOOK VALUE|||||||
|At 30April 2021|8,703,615||-|831|1,998|8706444|
|At 30April 2020|6.842.419||-|1,453||6.843.872|
##
##
|FIXEDASSET INVESTMENTS|||
|---|---|---|
||Shares|in|
||group||
||undertakings||
||F||
|COST|||
|At 1 May 2020 and 30April 2021|||
|NET BOOK VALUE|||
|At 30April 2021||1|
|At 30April 2020||1|
|Class ofshare:|holding|
|---|---|
|Ordinary|100|
##
|DEBTORS:A|MOUNTS
FALLING DUE WITHIN ONE YEA|R||
|---|---|---|---|
|||2021|2020|
|Trade debtors|||160|
|Other debtors||475,949|294,590|
|VAT
Prepayments|and accrued income|33,569
2,009|11,994
3,176|
|||511,527|309920|
##
|CREDITORS: AMOU|NTS||FALLING DUE WITHIN ONE YEAR||||
|---|---|---|---|---|---|---|
|||||2021|2020||
|Bank loans (see note|20)|||7,500|||
|Other loans (see note|20)|||650,000|200,000||
|Trade creditors||||212,237|61,666||
|Amounts
owed to group undertakings||||1||1|
|Social security and other||taxes||1,400|||
|Other creditors||||859|1,148||
|Accruals and deferred|income|||141,499|153,790||
|||||1,013,466|416,605||
|Included
within
accruals||and deferred
income at 30 April 2020 was grant income of F53,334. This amount||||w|
|released
in full during|the||year. The charity had no deferred income at 30April 2021.||||
|CREDITORS: AMOUNTS|||FALLING DUE AFTER MORE THAN ONE YEAR||||
|||||2021|2020||
|Bank loans (see note|20)|||42,500|||
|LOANS|||||||
|An analysis ofthe maturity|||ofloans is given below:||||
|||||2021|2020||
|||||F|||
|Amounts
falling due within|||one year on demand:||||
|Bank loans||||7,500|||
|Other loans||||650,000|200,000||
|||||657,500|200,000||
|Amounts
falling between one and two years:|||||||
|Bank loans - 1-2years||||40.000|||
|Amounts
falling due in|more than five years:||||||
|Repayable
by instalments:|||||||
|Bank loan & 5years||||2,500|||
##
##
|21.|MOVEMENT
IN FUNDS||||||||
|---|---|---|---|---|---|---|---|---|
|||||||Net|Transfers||
|||||||movement|between|At|
||||||At 1/5/20|in funds|funds|30/4/21|
||||||||F||
||Unrestricted
funds||||||||
||General fund
Fixed asset fund||||(164,870)
6,843,872|111,644|(515,864)
1,868,272|(569,090)
8,712,144|
||Restricted funds||||6,679,002|111,644|1,352,408|8,143,054|
||National
Lottery Heritage
Fund
Regeneration
of Hay Castle||||108,240|1,169,887|(1,169,887)|108,240|
||Country Houses Foundation
Education
and Activity||||40,000
9,909||(40,000)|9,909|
||Heritage
Skills Training||||46,421||(13,986)|32,435|
||Powys War Memorials
Project||||2,570|||2,570|
||Clore Cultural
Learning
Space
Esmee Fairbaim
Foundation||||33,949|15,000
49,279|(50,483)|15,000
32,745|
||Rural Communities
Development
The LEADER Programme|||Fund|1,000|16,706|(16,706)|1,000|
||National
Lottery Community
Fund
Oakdale Trust
Hay Castle Retail start-up
Community
Foundation
Wales - Ashley||||230
11,000|44,740|(19,515)
(230)
(8,566)|25,225
2,434|
||Family Foundation||||8,000|||8,000|
||Gallery costs|||||22,500|(22,500)||
||Medieval
Costumes
community
project
Development
ofsteps linking Castle and|||||1,180||1,180|
||town
Restoration
ofthe Dutch Gables|||||10,000
5,000|(5,535)
~5.000)|4,465|
||||||261,319|1,334,292|1,352,408|243,203|
||TOTAL FUNDS||||6,940,321|1,445,936||8,386,257|
||Net movement
in funds,
included|||in the above are as follows:|||||
|||||||Incoming|Resources|Movement|
|||||||resources
f|expended|in funds|
||Unrestricted
funds||||||||
||General
fund|||||163,399|(51,755)|111,644|
||Restricted funds||||||||
||National
Lottery Heritage
Fund
Clore Cultural
Learning Space|||||1,205,623
15,000|(35,736)|1,169,887
15,000|
||Esmhe Fairbaim
Foundation
The LEADER Programme|||||53,334
16,706|(4,055)|49,279
16,706|
||National
Lottery Community|Fund||||44,740||44,740|
||Gallery costs|||||22,500||22,500|
||Medieval
Costumes
community||project|||1,500|(320)|1,180|
||Development
ofsteps linking|Castle and|||||||
||town
Restoration
ofthe Dutch Gables|||||10,000
5,000||10,000
5,000|
|||||||1,374,403|40,111|1,334,292|
||TOTAL FUNDS|||||1,537802|~91,8S6)|1,445,936|
##
|MOVEMENT
IN FUNDS - conti|nu|ed|||||
|---|---|---|---|---|---|---|
|Comparatives
for movement|in|funds|||||
|||||Net|Transfers||
|||||movement|between|At|
||||At 1/5/19
E|in funds|funds
f|30/4/20
F|
|Unrestricted
funds|||||||
|General fund
Fixed asset fund|||(24,041)
4,815,893|8,479|(149,308)
2,027,979|(164,870)
6,843,872|
|Restricted funds|||4,791,852|8,479|1,878,671|6,679,002|
|National
Lottery Heritage
Fund
Regeneration
of Hay Castle
Ernest Cook Trust|||120,000
479|1,254,647
50,000
(479)|(1,254,647)
(61,760)|108,240|
|Country Houses Foundation
The Wolfson Foundation
The Leche Trust
Education
and Activity|||70,000
96,000
2,500
9,909||(30,000)
(96,000)
(2,500)|40,000
9,909|
|Heritage
Skills Training
Powys War Memorials
Project
The Clore Duffield Foundation
Esmee Fairbaim
Foundation|||53,123
5,000
286,861
35,557|2,570
48,361|(6,702)
(5,000)
(286,861)
(49,969)|46,421
2,570
33,949|
|Rural Communities
Development
The Sackler Trust
The Headley Trust
The LEADER Programme||Fund|5,000
10,000|10,000
29,212|(4,000)
(10,000)
(10,000)
(29,212)|1,000|
|National
Lottery Community
Fund||||31,420|(31,420)||
|Herefordshire
Community
Foundation
Oakdale Trust||||600
230|(600)|230|
|Hay Castle Retail start-up||||11,000||11,000|
|Community
Foundation
Wales -|Ashley||||||
|Family Foundation||||8,000||8,000|
||||694,429|1,445,561|1,878,671|261,319|
|TOTAL FUNDS|||5,486,281|1,454,040||6,940,321|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||2021|2020|
|---|---|---|
|||F|
|INCOME AND ENDOWMENTS|||
|Donations
and legacies|||
|Donations
Gift aid tax redaimed
Grants
Subscriptions|21,330
2,813
1,502,903
3,860|1,631
1,830
1,530,033
3,800|
||1,530,906|1,537,294|
|Trading activities|||
|Honesty bookshop sales
Keepers ofthe Castle fundraising
Rental income
Events income
Other income|730
6,083
15|2,878
5,000
7,333
8,819
170|
||6,828|24,200|
|Investment
income|||
|Deposit account interest|68|432|
|Total incoming
resources|1,537,802|1,561,926|
|EXPENDITURE|||
|Raising donations
and legacies|||
|Consultancy
fees|3,606|21,255|
|Trading activities|||
|Cost offunctions
and events
Depreciation
oftangible fixed assets|200
622|5,916
622|
||822|6,538|
|Charitable
activities|||
|Establishment
costs
Postage and stationery|32,308
500|27,666
932|
|Advertising
and promotions
Repairs and maintenance
Travel|852
2,817
116|8,169
1,778
223|
|Office expenses
Website costs
Bank charges|1,865
3,595
242|919
277|
||42,295|39,964|
|Support costs|||
|Staff costs|||
|Wages
Social security
Pensions|27,439
1,198
611|18,022
1,219
264|
||29,248|19,505|
##
|||2021|2020|
|---|---|---|---|
|Staff costs||||
|Other||||
|Sundries
Consultancy
Depreciation|fees
oftangible fixed assets|2,630
4,714
117|2,532
7,650|
|||7,461|10,182|
|Governance|costs|||
|Accountancy
Professional|fees
fees|3,800
4,634|4,000
6,442|
|||8,434|10,442|
|Total resources|expended|91,866|107,886|
|Net income||1,445,936|1.454.040|