| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| Notes | E | E | |||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
42,664 | 392,998 | 435,662 | 1,279,529 | |||
| Charitable activities |
|||||||
| Advancing education on the architecture |
of Hay | ||||||
| Castle, local history and the arts | 50,568 | 31,395 | 81,963 | ||||
| Trading activities Investment income |
97,880 224 |
97,880 224 |
9,781 15 |
||||
| Total | 191,336 | 424,393 | 615,729 | 1,289,325 | |||
| EXPENDITURE ON | |||||||
| Raising funds | 26,572 | 26,572 | 1,748 | ||||
| Charitable activities |
|||||||
| Preservation of Hay Castle |
12,214 | 12,214 | 160,041 | ||||
| Advancing education on the architecture |
of Hay | ||||||
| Castle, local history and the arts | 369,123 | 67,859 | 436,982 | ||||
| Total | 407,909 | 67,859 | 475,768 | 161,789 | |||
| NET INCOMEI(EXPENDITURE) Transfers between funds |
22 | (216,573) 245,519 |
356,534 ~245,519) |
139,961 | 1,127,536 | ||
| Net movement in funds |
28,946 | 111,015 | 139,961 | 1,127,536 | |||
| RECONCILIATION OF FUNDS |
|||||||
| Total funds brought forward |
9,462,909 | 50,884 | 9,513,793 | 8,386,257 | |||
| TOTAL FUNDS CARRIED FORWARD | 9,491,855 | 161,899 | 9,653,754 | 9,513,793 |
| 2023 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||||
| funds | funds | funds | funds | ||||||
| FIXEDASSETS | Notes | 6 | F | F | F | ||||
| Tangible assets Heritage assets investments |
15 16 17 |
54,900 10,376,090 1 |
54,900 10,376,090 |
9,958,154 5,700 1 |
|||||
| 10,430,991 | 10,430,991 | 9,963,855 | |||||||
| CURRENT ASSETS | |||||||||
| Debtors Cash at bank and in hand |
106,831 377,214 386.176 ~2)5,3?5) |
484,045 170,861 |
359,398 341,067 |
||||||
| 493,007 | 161,899 | 654,906 | 700,465 | ||||||
| CREDITORS | |||||||||
| Amounts falling due within |
one year | 19 | (1,409,643) | (1,409,643) | (1,118,027) | ||||
| NET CURRENT ASSETS/(LIABILITIES) | ~9)6,636) | 161,899 | ~754,737) | ~477 562) | |||||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 9,514,355 | 161,899 | 9,676,254 | 9,546,293 | |||||
| CREDITORS | |||||||||
| Amounts falling due after |
more than one year | 20 | (22,500) | (22,500) | (32,500) | ||||
| NET ASSETS | 9,491.855 | 161,899 | 9,653,754 | 9,513,793 | |||||
| FUNDS Unrestricted funds Restricted funds TOTAL FUNDS These financial statements have been prepared to the small companies regime. The financial staternents were approved by the and were signed on its behalf by: |
22 in accordance with the provisions Board of Trustees and authonsed |
applicable for ssue |
9,491,855 161,899 9,462,909 50,884 9.653,?54 9.513,793 to charitable companies subject onP. . |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| Cash flows from operating | activities | |||||
| Cash generated from operations Interest paid |
180,519 ~947) |
1,233,994 ~892) |
||||
| Net cash provided by operating activities |
179,572 | 1,233,102 | ||||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed assets Interest received |
(479,002) 224 |
(1,253,131) 15 |
||||
| Net cash used in investing |
activities | ~478,778) | ~1,253, 116) | |||
| Cash flows from financing | activities | |||||
| New loans in year Loan repayments in year |
139,000 ~)0.000) |
150,000 ~7,500) |
||||
| Net cash provided by financing activities |
129,000 | 142,500 | ||||
| Change in cash and cash |
equivalents | in | ||||
| the reporting period Cash and cash equivalents |
at the | (170,206) | 122,486 | |||
| beginning ofthe reporting |
period | 341,067 | 218,581 | |||
| Cash and cash equivalents | at the end | of | ||||
| the reporting period |
170,561 | 341,067 |
| RECONCILI | ATION | O | F NE | T IN | COME TO NET CASH FLOW FROM OPERATING | ACTIVITIES | ||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||
| Net income | for the | reporting | period (as per the Statement ofFinancial | |||||
| Activities) Adjustments |
for: | 139,961 | 1,127,536 | |||||
| Depreciation | charges | 11,866 | 1,421 | |||||
| Interest received Interest paid |
(224) 947 |
(15) 892 |
||||||
| (Increase)/decrease Increase/(decrease) |
in in |
debtors creditors |
(124,647) 152,616 |
152,129 ~47,969) |
||||
| Net cash provided | by | operations | 180,519 | 1,233,994 | ||||
| 2. | ANALYSIS OF CHANGES | IN NET DEBT | ||||||
| At 1/5/22 | Cash flow | At 30/4/23 | ||||||
| E | ||||||||
| Net cash | ||||||||
| Cash at bank and in | hand | 341,067 | )170,206) | 170,861 | ||||
| 341,067 | )170,206) | 170,861 | ||||||
| Debt | ||||||||
| Debts falling Debts falling |
due within 1 year due after 1 year |
(810,000) ~32,500) |
(139,000) 10,000 |
(949,000) ~22,500) |
||||
| )842,500) | i129,000) | )971,500) | ||||||
| Total | )501,433) | ~299,206) | ~800,639) |
| Grants received, | included | included | in | the above, are as follows: | the above, are as follows: | the above, are as follows: | |||
|---|---|---|---|---|---|---|---|---|---|
| 2023f | 2022 | ||||||||
| National Lottery |
Heritage | Fund | 383,329 | 863,859 | |||||
| Welsh Government | - LEADER Programme | 2,000 | 6,194 | ||||||
| Welsh Government | -Wales | Cultural | Recovery Fund | 103,621 | |||||
| The Moondance | Foundation | -COVID support | 150,000 | ||||||
| Welsh Government | - Restoration | of Hay Castle | 150,000 | ||||||
| The Darkly Trust | - | purchase | ofequipment | 1,857 | |||||
| National Portrait |
Gallery - Creative | Intern funding | 5,812 | ||||||
| 392,999 | 1,273,674 | ||||||||
| 4. | TRADING ACTIVITIES | ||||||||
| 2023 | 2022 | ||||||||
| E | |||||||||
| Honesty bookshop | sales | 2,740 | |||||||
| Cafe | 61,115 | ||||||||
| Rental income | 10,888 | 7,041 | |||||||
| Venue hire | 23,570 | ||||||||
| Other income | 2,307 | ||||||||
| 97,880 | 9,781 | ||||||||
| 5. | INVESTMENT INCOME | ||||||||
| 2023 | 2022 | ||||||||
| F | E | ||||||||
| Deposit account | interest | 224 | 15 | ||||||
| 6. | INCOME FROM | CHARITABLE ACTIVITIES | |||||||
| 2023 | 2022 | ||||||||
| F | |||||||||
| Tours income | 6,685 | ||||||||
| Entrance ticket income | 14,943 | ||||||||
| Heritage and Learning |
15,192 | ||||||||
| workshops | |||||||||
| Grants | 31,395 | ||||||||
| Gallery income | 5,436 | ||||||||
| Event income | 8,312 | ||||||||
| 81,963 |
| Grants received, in |
cluded | in the ab | ove, a | re as follow | s: | ||||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||
| Arts Council England - Portraits of | Writers | 25,200 | |||||||
| Federation of Museums |
and Art Galleries | ofWales - | The Wild | Escape | 2,912 | ||||
| Welsh Historic Gardens | Trust | 1,010 | |||||||
| Brecon Beacons National | Park Authority | -Community | Nature | Recovery Grants | |||||
| Scheme | 490 | ||||||||
| Welsh Government | - GEM | Cymru | micro | grant | 1,305 | ||||
| Federation of Museums |
and Art Galleries | ofWales - | Museum | Conference | 478 | ||||
| 31,395 | |||||||||
| RAISING FUNDS | |||||||||
| Raising donations | and | legacies | |||||||
| 2023 | 2022 | ||||||||
| E | F | ||||||||
| Consultancy fees |
2,400 | 691 | |||||||
| Trading activities | |||||||||
| 2023 | 2022 | ||||||||
| F | E | ||||||||
| Cost offunctions and events |
14,135 | 435 | |||||||
| Depreciation | 10,037 | 622 | |||||||
| 24,172 | 1,057 | ||||||||
| Total | 26,572 | 1,748 | |||||||
| CHARITABLE ACTIVITIES COSTS | |||||||||
| Direct | Support | ||||||||
| Costs (see | costs (see | ||||||||
| note 9) | note 10) | Totals | |||||||
| E | |||||||||
| Preservation of Hay |
Castle | 12,214 | 12,214 | ||||||
| Advancing education |
on the architecture | ||||||||
| of Hay Castle, local | history | and the | arts | 342,730 | 94,252 | 436,982 | |||
| 354,944 | 94,252 | 449,196 |
| DIRECT COSTS O | F CHARITA | BLE | ACTIVITIES | ||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| Staff costs | 137,161 | 11,698 | |||||
| Heat, light, power, water and waste | collection | 66,630 | 32,414 | ||||
| Heritage & learning |
activities costs | 13,294 | |||||
| Cleaning costs | 28,049 | ||||||
| Insurances | 21,020 | 16,740 | |||||
| Postage and stationery | 2,499 | 34 | |||||
| Advertising and promotions |
2,850 | 5,666 | |||||
| Gallery expenses | 24,581 | ||||||
| Repairs and maintenance Staff &volunteer travel, training |
and | expenses | 46,210 2,871 |
9,361 419 |
|||
| Office expenses | 5,330 | 1,427 | |||||
| Recruitment | 810 | 18,175 | |||||
| Website costs | 2,760 | 1,400 | |||||
| Bank charges | 879 | 164 | |||||
| 354,944 | 97,498 | ||||||
| SUPPORT COSTS | |||||||
| Staff | Governance | ||||||
| costs | Finance | Other | costs | Totals | |||
| Advancing education |
on the | ||||||
| architecture of Hay Castle, |
|||||||
| local history and the | arts | 57,201 | 947 | 31,154 | 4,950 | 94,252 | |
| 2022 | 38,852 | 892 | 18,029 | 4770 | 82,543, |
| 2023 | 2022 | |||
|---|---|---|---|---|
| F | ||||
| Depreciation | -owned assets | 11,866 | 1,421 | |
| Auditors' | remuneration | 4,950 | 4,000 |
| STAFF C | O | STS | ||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| E | ||||||
| Wages and | salaries | 177,894 | 94,639 | |||
| Social security costs | 12,740 | 4,520 | ||||
| Employer | pension costs | 3,728 | 1,956 | |||
| 194,362 | 101,115 | |||||
| The average | number ofemployees | during | the year was as follows: | |||
| 2023 | 2022 | |||||
| Employees | 6 | 3 |
| Unrestricted | Restricted | Total | |||||
|---|---|---|---|---|---|---|---|
| funds f |
funds f |
fundsf | |||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
259,476 | 1,020,053 | 1,279,529 | ||||
| Trading activities | 9,781 | 9,781 | |||||
| Investment income |
15 | 15 | |||||
| Total | 269,272 | 1,020,053 | 1,289,325 | ||||
| EXPENDITURE | ON | ||||||
| Raising funds | 1,748 | 1,748 | |||||
| Charitable activities |
|||||||
| Preservation of Hay |
Castle | 101,355 | 58,686 | 160,041 | |||
| Total | 103,103 | 58,686 | 161,789 | ||||
| NET INCOME | 166,169 | 961,367 | 1,127,536 | ||||
| Transfers between |
funds | 1,153,686 | ~1,153,686) | ||||
| Net movement | in funds | 1,319,855 | (192,319) | 1,127,536 | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 8,143,054 | 243,203 | 8,386,257 | |||
| TOTAL FUNDS | CARRIED FORWARD | 9,462,909 | 50,884 | 9,513,793 | |||
| TANGIBLE FIXEDASSETS | |||||||
| Fixtures | |||||||
| Freehold | Plant and | and | Computer | ||||
| property f |
machinery f |
fittings | equipment f |
Totals f |
|||
| COST | |||||||
| At 1 May 2022 | 9,945,104 | 13,031 | 10,911 | 6,947 | 9,975,993 | ||
| Additions Reclassification |
425,286 ~10,370,390) |
4,465 | 49,251 | 479,002 ~10,370,390) |
|||
| At 30 April 2023 | 17,496 | 60,162 | 6,947 | 84,605 | |||
| DEPRECIATION | |||||||
| At 1 May 2022 | 9,486 | 6,013 | 2,340 | 17,839 | |||
| Charge for year | 1,909 | 8,128 | 1,829 | 11,866 | |||
| At 30 April 2023 | 11,395 | 14,141 | 4,169 | 29,705 | |||
| NET BOOK VALUE | |||||||
| At 30 April 2023 | 6,101 | 46,021 | 2,778 | 54,900 | |||
| At 30 April 2022 | 9,945,104 | 3,545 | 4,898 | 4,607 | 9,958,154 |
| HERITAGE ASSETS | ||
|---|---|---|
| Total | ||
| COST | ||
| At 1 May 2022 | 5,700 | |
| Reclassification | 10,370,390 | |
| At 30 April 2023 | 10,376,090 | |
| NET BOOK VALUE | ||
| At 30 April 2023 | 10,376,090 | |
| At 30April 2022 | 5,700 | |
| Heritage assets comprise ofthe following: | ||
| 2023 | 2022 | |
| F | ||
| Sculptures and portraits of Richard Booth |
5,700 | 5,700 |
| Properly - Castle | 10,370,390 | |
| 10,376,090 | 5,700 |
| Shares | in |
|---|---|
| group | |
| undertakings |
| 18. | DEBTORS:A | MOUNTS | FALLING DUE WITHIN | FALLING DUE WITHIN | FALLING DUE WITHIN | ONE YEAR | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||||
| F | ||||||||||
| Trade debtors | 26,302 | 120 | ||||||||
| Other debtors | 391,338 | 307,935 | ||||||||
| VAT | 63,317 | 43,106 | ||||||||
| Prepayments | and accrued income | 3,088 | 8,237 | |||||||
| 484,045 | 359,398 | |||||||||
| 19. | CREDITORS: | AMOUNTS FALLING |
DUE WITHIN ONE YEAR | |||||||
| 2023 | 2022 | |||||||||
| E | ||||||||||
| Bank loan (see note 21) | 10,000 | 10,000 | ||||||||
| Other loan (see note 21) | 939,000 | 800,000 | ||||||||
| Trade creditors | 118,370 | 174,546 | ||||||||
| Amounts owed to group undertakings |
27,116 | 1 | ||||||||
| Social security | and other | taxes | 4,034 | |||||||
| Other creditors | 3,302 | 1,297 | ||||||||
| Accruals and deferred income |
311,855 | 128,149 | ||||||||
| 1,409,643 | 1,118,027 | |||||||||
| Included within |
accruals and deferred | income above is the following | deferred | income: | ||||||
| 2023 | 2022 | |||||||||
| Venue hire | 14,573 | |||||||||
| 14,573 | ||||||||||
| All deferred income relates to income |
received | in | advance ofvenue | hire dates. | ||||||
| 20. | CREDITORS: | AMOUNTS | FALLING | DUE AFTER MORE THAN ONE YEAR | ||||||
| 2023 | 2022 | |||||||||
| Bank loan (see note 21) | 22,500 | 32,500 | ||||||||
| 21. | LOANS | |||||||||
| An analysis of | the maturity | of loans is | given below: | |||||||
| 2023 | 2022 | |||||||||
| E | E | |||||||||
| Amounts falling |
due within | one year on demand: | ||||||||
| Bank loan | 10,000 | 10,000 | ||||||||
| Other loan | 939,000 | 800,000 | ||||||||
| 949,000 | 810,000 | |||||||||
| Amounts falling |
between one and two | years: | ||||||||
| Bank loan - 1-2years | 22,500 | 32,500 | ||||||||
| The bank loan | is interest bearing and |
was drawn | under the Bounce | Back Loan | Scheme. |
| MOVEMENT IN FUNDS |
MOVEMENT IN FUNDS |
||||||
|---|---|---|---|---|---|---|---|
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1/5/22 | in funds f |
funds | 30/4/23 f. |
||||
| Unrestricted funds |
|||||||
| General fund Fixed asset fund |
(500,945) 9,963,854 |
(204,707) ~11,666) |
(233,483) 479,002 |
(939,135) 10,430,990 |
|||
| Restricted funds | 9,462,909 | (216,573) | 245,519 | 9,491,855 | |||
| National Lottery Heritage |
Fund | 383,329 | (245,519) | 137,810 | |||
| Education and Activity |
6,724 | 6,724 | |||||
| Heritage Skills Training |
8,501 | (215) | 8,286 | ||||
| National Lottery Community |
Fund | 25,225 | (25,225) | ||||
| Hay Castle Retail start-up | 2,434 | (2,434) | |||||
| Community Foundation |
Wales - Ashley | ||||||
| Family Foundation | 8,000 | 8,000 | |||||
| Welsh Historic Gardens | Trust | 950 | 950 | ||||
| Community Nature Recovery |
129 | 129 | |||||
| 50,884 | 356,534 | 245,519 | 161,899 | ||||
| TOTAL FUNDS | 9,513,793 | 139,961 | 9,653,754 |
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| Unrestricted funds |
|||||
| General fund Fixed asset fund |
191,336 | (396,043) ~11,866) |
(204,707) ~11,866) |
||
| Restricted funds | 191,336 | (407,909) | (216,573) | ||
| National Lottery Heritage Fund |
383,329 | 383,329 | |||
| Heritage Skills Training Welsh Government - LEADER Programme |
2,000 | (215) (2,000) |
(215) | ||
| National Lottery Community Hay Castle Retail start-up Purchase ofequipment |
Fund | 1,857 | (25,225) (2,434) (1,857) |
(25,225) (2,434) |
|
| National Portrait Gallery - Creative Portraits ofWriters exhibition The Wild Escape Welsh Historic Gardens Trust |
Intern | 5,812 25,200 2,912 1,010 |
(5,812) (25,200) (2,912) (60) |
950 | |
| Community Nature Recovery GEM Cymru micro grant Museum conference |
490 1,305 478 |
(361) (1,305) ~478) |
129 | ||
| 424,393 | ~67,859) | 356,534 | |||
| TOTAL FUNDS | 615,729 | ~475.768) | 139,961 |
| Net | Transfers | |||||||
|---|---|---|---|---|---|---|---|---|
| movement | between | At | ||||||
| At 1/5/21 | in funds | funds | 30/4/22 | |||||
| F | F | |||||||
| Unrestricted funds |
||||||||
| General fund |
(569,090) | 166,169 | (98,024) | (500,945) | ||||
| Fixed asset fund | 8,712,144 | 1,251,710 | 9,963,854 | |||||
| 8,143,054 | 166,169 | 1,153,686 | 9,462,909 | |||||
| Restricted funds | ||||||||
| National Lottery Heritage Fund |
818,302 | (818,302) | ||||||
| Regeneration of Hay Castle |
108,240 | 150,000 | (258,240) | |||||
| Education and Activity |
9,909 | (3,185) | 6,724 | |||||
| Heritage Skills Training |
32,435 | (23,934) | 8,501 | |||||
| Powys War Memorials | Project | 2,570 | (2,570) | |||||
| Esmee Fairbaim Foundation |
32,745 | (32,745) | ||||||
| Rural Communities Development |
Fund | 1,000 | (1,000) | |||||
| National Lottery Community |
Fund | 25,225 | 25,225 | |||||
| Hay Castle Retail start-up | 2,434 | 2,434 | ||||||
| Community Foundation |
Wales - Ashley | |||||||
| Family Foundation | 8,000 | 8,000 | ||||||
| Medieval Costumes community |
project | 1,180 | (1,180) | |||||
| Development ofsteps |
linking | Castle | and | |||||
| town Clore Cultural Learning |
space | 4,465 15,000 |
(4,465) ~15,000) |
|||||
| 243,203 | 961,367 | ~1,153,686 | 50,884 | |||||
| TOTAL FUNDS | 8,386,257 | 1,127,536 | 9,513,793 | |||||
| Comparative net movement |
in funds, | included | in the above are as | follows: | ||||
| Incoming | Resources | Movement | ||||||
| resources | expended | in funds | ||||||
| F | ||||||||
| Unrestricted funds |
||||||||
| General fund |
269,272 | (103,103) | 166,169 | |||||
| Restricted funds | ||||||||
| National Lottery Heritage Fund |
863,859 | (45,557) | 818,302 | |||||
| Regeneration of Hay Castle |
150,000 | 150,000 | ||||||
| Education and Activity |
(3,185) | (3,185) | ||||||
| Powys War Memorials | Project | (2,570) | (2,570) | |||||
| Welsh Government -LEADER Programme Medieval Costumes community project |
6,194 | (6,194) ~1,180) |
~1,180) | |||||
| 1,020,053 | ~58,686) | 961,367 | ||||||
| TOTAL FUNDS | 1,289,325 | ~161,789) | 1,127,536 |