**REGISTERED CHARITY NUMBER: 1146009**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **FOR**
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**||1||
|**Independent Examiner's Report**||2||
|**Statement of Financial Activities**||3||
|**Balance Sheet**||4||
|**Cash Flow Statement**||5||
|**Notes to the Cash Flow Statement**||6||
|**Notes to the Financial Statements**|7|to|21|
|**Detailed Statement of Financial Activities**|22|to|23|
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 2019).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1146009
## **Principal address**
Stephens & George Ltd Goat Mill Road Dowlais Merthyr Tydfil CF48 3TD
## **Trustees**
Mrs V A Jones Councillor L Mytton A H Williams P J Lawlor A Pendrigh
## **Independent Examiner**
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
## **COVID-19**
The charity has received grants to assist with some charitable projects but due to covid these projects maybe delayed.
The trustees have considered the impact of Covid-19 on the going concern of the Charity and are satisfied that the Charity has the resources available to continue as a going concern.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................................
Mrs V A Jones - Trustee
Page 1
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **Independent examiner's report to the trustees of Stephens and George Centenary Charitable Trust**
I report to the charity trustees on my examination of the accounts of Stephens and George Centenary Charitable Trust (the Trust) for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
Henry Lloyd-Davies ICAEW Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
Date: ...28 January 2022........
Page 2
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
153,653
Other trading activities
4
-
**Total**
153,653
**EXPENDITURE ON**
Raising funds
5
(86)
**Charitable activities**
6
Dowlais community centre
20,271
Community advancement projects
35,727
**Total**
55,912
**NET INCOME**
97,741
**Transfers between funds**
14
(30,669)
**Net movement in funds**
67,072
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
46,378
**TOTAL FUNDS CARRIED FORWARD**
113,450|Restricted
funds
£
450,089
-
450,089
-
88,888
105,084
193,972
256,117
30,669
286,786
241,379
528,165|2021
Total
funds
£
603,742
-
603,742
(86)
109,159
140,811
249,884
353,858
-
353,858
287,757
641,615|2020
Total
funds
£
228,498
5,630|
|---|---|---|---|
||||234,128
32
74,840
143,117|
||||217,989|
||||16,139
-|
||||16,139
271,618|
||||287,757|
The notes form part of these financial statements
Page 3
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **BALANCE SHEET 31 MARCH 2021**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
11
33,582
**CURRENT ASSETS**
Debtors
12
30,380
Cash at bank
68,556
98,936
**CREDITORS**
Amounts falling due within one year
13
(19,068)
**NET CURRENT ASSETS**
79,868
**TOTAL ASSETS LESS CURRENT LIABILITIES**
113,450
**NET ASSETS**
113,450
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
85,574
100,973
341,618
442,591
-
442,591
528,165
528,165|2021
Total
funds
£
119,156
131,353
410,174
541,527
(19,068)
522,459
641,615
641,615
113,450
528,165
641,615|2020
Total
funds
£
95,726
49,366
158,329
207,695
(15,664)
192,031
287,757
287,757
46,378
241,379
287,757|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. V A Jones - Trustee
The notes form part of these financial statements
Page 4
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Net cash used in investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of**
**the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|2021
£
303,547
303,547
(51,702)
(51,702)
251,845
158,329
410,174|2020
£
13,263
13,263
(5,338)
(5,338)
7,925
150,404
158,329|
|---|---|---|
The notes form part of these financial statements
Page 5
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
## 2.
|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|||
|---|---|---|
|**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Depreciation charges
Increase in debtors
Increase/(decrease) in creditors
**Net cash provided by operations**
**ANALYSIS OF CHANGES IN NET FUNDS**|2021
£
353,858
28,271
(81,987)
3,405
303,547|2020
£
16,139
22,249
(15,570)
(9,555)|
|||13,263|
||||
||At 1.4.20|Cash flow|At 31.3.21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|158,329|251,845|410,174|
||158,329|251,845|410,174|
|**Total**|158,329|251,845|410,174|
The notes form part of these financial statements
Page 6
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. STATUTORY INFORMATION**
Stephens and George Centenary Charitable Trust is a charitable trust registered in England and Wales. The charity's registered number is 1146009 and charity address is Goat Mill Road, Dowlais, Merthyr Tydfil, CF48 3TD.
The presentation currency of the financial statements is the Pound Sterling (£).
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Critical accounting judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances
## **Income**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from fundraising events is recognised on the delivery of the fundraising. This is classified as unrestricted funds unless there is a specific requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
- income from admission fees is recognised as income on the date of the admission. This is classified as unrestricted funds unless there is a specific requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Expenditure**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
Page 7
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Expenditure**
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost Fixtures and fittings - 25% on cost
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors and provisions**
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.
Page 8
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **3. DONATIONS AND LEGACIES**
## **4.**
## **5.**
**6.**
|Grants
Admission fees and sundry sales
S&G Print Group Ltd
Sundry donations
Grants received, included in the above, are as follows:
Annual Grant
**OTHER TRADING ACTIVITIES**
Fundraising events
**RAISING FUNDS**
**Other trading activities**
Bad debts
**CHARITABLE ACTIVITIES COSTS**
Dowlais community centre
Community advancement projects|2021
£
574,683
17,412
11,647
-
603,742
2021
£
574,683
2021
£
-
2021
£
(86)
Support
Direct
costs (see
Costs
note 7)
£
£
109,159
-
124,648
16,163
233,807
16,163|2020
£
114,909
69,375
43,766
448|
|---|---|---|
|||228,498|
|||2020
£
114,909|
|||2020
£
5,630
2020
£
32
Totals
£
109,159
140,811|
|||249,970|
Page 9
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **7. SUPPORT COSTS**
||Bank|Governance||
|---|---|---|---|
||charges|costs|Totals|
||£|£|£|
|Community advancement projects|623|15,540|16,163|
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **9. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
||2021|2020|
||£|£|
|Wages and salaries|95,421|109,431|
|Social security costs|4,542|5,730|
|Other pension costs|1,752|1,545|
||101,715|116,706|
|The average monthly number of employees during the year was as follows:|||
||2021|2020|
|Project operation and logistics|4|5|
No employees received emoluments in excess of £60,000.
The total remuneration paid to key management during the year was £57,188 (2020: £57,209).
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
Restricted
funds
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
107,894
120,604
Other trading activities
5,630
-
**Total**
113,524
120,604
**EXPENDITURE ON**
Raising funds
32
-
**Charitable activities**
Dowlais community centre
38,395
36,445
Community advancement projects
84,593
58,524
**Total**
123,020
94,969|Total
funds
£
228,498
5,630|
|---|---|
||234,128
32
74,840
143,117|
||217,989|
Page 10
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
**10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**11.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2020
Additions
At 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|Unrestricted
funds
£
(9,496)
15,680
6,184
40,194
46,378
Freehold
property
£
117,671
21,000
138,671
27,065
24,919
51,984
86,687
90,606|Restricted
funds
£
25,635
(15,680)
9,955
231,424
241,379
Fixtures
and
fittings
£
17,940
30,702
48,642
12,820
3,353
16,173
32,469
5,120|Total
funds
£
16,139
-
16,139
271,618
287,757
Totals
£
135,611
51,702
187,313
39,885
28,272
68,157
119,156
95,726|Total
funds
£|
|---|---|---|---|---|
|||||16,139
-|
|||||16,139
271,618|
|||||287,757|
Page 11
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **13.**
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|---|---|---|---|
|Trade debtors
Other debtors
Prepayments and accrued income
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors|2021
£
6,582
600
124,171
131,353
2021
£
4,786
1,968
12,314
19,068||2020
£
4,545
600
44,221|
||||49,366|
||||2020
£
3,920
411
11,333|
||||15,664|
Page 12
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **14. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Unrestricted Capital fund
Designated fund - HUB Project
**Restricted funds**
Animal Grant
Awards for All
Baby Book Worm
Big Music Project
Chess in Schools Project
Children in Need
Creative Library
Gardening Project
HUB Project
Merthyr Valley Homes
Sportslot
Stephens & George - Library
Stephens & George - Monmouth
WCVA - Active Inclusion
Welsh Assembly Government
Eramus
Clybiau Plant Cymru
Coalfields Cafe
Voluntary Action Methyr Tydfl
World Book Day
Ramblers Association
VAMT Dance Tutor
South Wales Police Youth Trust
Fareshare
Bruce Wakefield
Stephens & George - Brecon College
Erasmus KTATSE
Restricted Capital Fund
Sport Wales
Cwm Taf Morgannwg - ICF Capital
Comic Relief VSEF
VAMT Dementia
VAMT ICF
Community Foundation Wales
Uniform Grant
National Lottery
BSA
CIN Booster Programme
CIN Covid 19
In This Together Community Matters
MTCBC - FYF Plymouth
Neighbourly Community Fund
Cwm Taf Morgannwg
Community Foundation Wales - Covid 19
VAMT - Covid 19|Net
movement
At 1.4.20
in funds
£
£
18,365
97,386
3,013
355
25,000
-
46,378
97,741
3,569
-
-
8,784
19,684
-
1,082
-
-
(2,005)
16,528
(2,768)
1,555
-
-
133
-
-
610
-
2,548
(537)
20,000
-
10,405
-
-
58,952
-
45,521
-
(525)
2,671
(258)
-
(540)
1,672
-
9,041
3,954
1,845
-
13,700
(1,600)
3,500
-
-
(369)
2,500
-
12,557
(1,828)
25,197
(4,624)
92,715
23,074
-
(2,230)
-
12,591
-
1,636
-
950
-
1,950
-
5,000
-
665
-
29,589
-
1,145
-
3,000
-
3,462
-
5,000
-
500
-
400
-
10,000
-
4,000
-
3,500|Transfers
between
funds
£
(5,669)
-
(25,000)
(30,669)
-
-
-
-
2,005
-
-
-
25,000
-
-
-
-
-
-
525
-
540
-
-
-
-
-
369
-
-
-
-
2,230
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|At
31.3.21
£
110,082
3,368
-|
|---|---|---|---|
||||113,450
3,569
8,784
19,684
1,082
-
13,760
1,555
133
25,000
610
2,011
20,000
10,405
58,952
45,521
-
2,413
-
1,672
12,995
1,845
12,100
3,500
-
2,500
10,729
20,573
115,789
-
12,591
1,636
950
1,950
5,000
665
29,589
1,145
3,000
3,462
5,000
500
400
10,000
4,000
3,500|
Page 13
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
|**14.**
**MOVEMENT IN FUNDS - continued**
Martin Lewis
Self Isolation
VAMT Story Book Covid 19
Christmas Festival
South Wales Police VPU Covid 19
Coronavirus Recovery Grant for Voluntering
Active Inclusion Covid-19
Merthyr Valley Homes - Covid 19
South Wales Police 2 - Support Vunerable
Youths
**TOTAL FUNDS**|-
-
-
-
-
-
-
-
-
241,379
287,757|13,126
5,000
2,900
1,557
1,925
6,409
7,583
9,125
1,970
256,117
353,858|-
-
-
-
-
-
-
-
-
30,669
-|13,126
5,000
2,900
1,557
1,925
6,409
7,583
9,125
1,970|
|---|---|---|---|---|
|||||528,165|
|||||641,615|
Page 14
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **14. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Unrestricted Capital fund
**Restricted funds**
Awards for All
Chess in Schools Project
Children in Need
Gardening Project
Sportslot
WCVA - Active Inclusion
Welsh Assembly Government
Eramus
Clybiau Plant Cymru
Coalfields Cafe
World Book Day
VAMT Dance Tutor
Fareshare
Stephens & George - Brecon College
Erasmus KTATSE
Restricted Capital Fund
Sport Wales
Cwm Taf Morgannwg - ICF Capital
Comic Relief VSEF
Sports Council
VAMT Dementia
VAMT ICF
Community Foundation Wales
Uniform Grant
National Lottery
BSA
CIN Booster Programme
CIN Covid 19
In This Together Community Matters
MTCBC - FYF Plymouth
Neighbourly Community Fund
Cwm Taf Morgannwg
Community Foundation Wales - Covid 19
VAMT - Covid 19
Martin Lewis
Self Isolation
VAMT Story Book Covid 19
Christmas Festival
South Wales Police VPU Covid 19
Coronavirus Recovery Grant for Voluntering
Active Inclusion Covid-19
Merthyr Valley Homes - Covid 19
South Wales Police 2 - Support Vunerable
Youths|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
151,675
(54,289)
97,386
1,978
(1,623)
355
153,653
(55,912)
97,741
10,000
(1,216)
8,784
-
(2,005)
(2,005)
-
(2,768)
(2,768)
500
(367)
133
-
(537)
(537)
96,068
(37,116)
58,952
87,358
(41,837)
45,521
-
(525)
(525)
(1)
(257)
(258)
-
(540)
(540)
4,000
(46)
3,954
-
(1,600)
(1,600)
-
(369)
(369)
-
(1,828)
(1,828)
(1)
(4,623)
(4,624)
-
23,074
23,074
9,782
(12,012)
(2,230)
47,500
(34,909)
12,591
2,000
(364)
1,636
2,500
(2,500)
-
2,000
(1,050)
950
2,000
(50)
1,950
5,000
-
5,000
665
-
665
69,608
(40,019)
29,589
2,000
(855)
1,145
3,000
-
3,000
3,500
(38)
3,462
5,000
-
5,000
500
-
500
400
-
400
10,000
-
10,000
4,000
-
4,000
3,500
-
3,500
15,000
(1,874)
13,126
5,000
-
5,000
4,900
(2,000)
2,900
6,050
(4,493)
1,557
2,335
(410)
1,925
6,800
(391)
6,409
20,000
(12,417)
7,583
9,125
-
9,125
10,000
(8,030)
1,970|
|---|---|
Page 15
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **14. MOVEMENT IN FUNDS - continued**
|**TOTAL FUNDS**|450,089
603,742|(193,972)
(249,884)|256,117|
|---|---|---|---|
||||353,858|
Page 16
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **14. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Unrestricted Capital fund
Designated fund - HUB Project
**Restricted funds**
Animal Grant
Baby Book Worm
Best Foot Forward Project
Big Music Project
Bookshop
Capital fund - Gym equipment
Chess in Schools Project
Children in Need
Clothworkers Foundation
Coalfields Regeneration
Coalfields Regeneration (Heat & Light)
Community Chest - Football & Netball
Creative Library
Festival of Learning
Literacy Workshops
Merthyr Valley Homes
Newsletter Project
Skiathos Fund
Sportslot
Stephens & George - Bursary
Stephens & George - Library
Stephens & George - Monmouth
Summer Camp
Vegetarian Society
Welsh Assembly Government
Youth Camp
Eramus
Clybiau Plant Cymru
Coalfields Cafe
Voluntary Action Methyr Tydfl
World Book Day
VAMT Dance Tutor
South Wales Police Youth Trust
Fareshare
Bruce Wakefield
Erasmus KTATSE
Restricted Capital Fund
**TOTAL FUNDS**|Net
movement
At 1.4.19
in funds
£
£
13,745
(9,455)
1,449
(41)
25,000
-
40,194
(9,496)
3,819
(250)
1,276
18,408
2,140
(295)
1,082
-
454
(454)
1,021
(1,021)
-
(5,227)
27,150
(10,622)
10,000
-
39
(39)
4,251
(1,134)
1,486
(1,486)
1,555
-
566
(566)
700
(700)
685
(75)
945
(945)
5,531
(5,531)
1,048
1,500
12,557
-
20,000
-
10,405
-
2,575
-
370
(370)
109,826
(18,086)
2,726
-
572
(572)
2,671
-
5,536
(5,536)
438
1,234
-
9,041
-
13,700
-
3,500
-
3,464
-
2,500
-
25,197
-
-
231,424
25,635
271,618
16,139|Transfers
between
funds
£
14,075
1,605
-
15,680
-
-
-
-
-
-
5,227
-
(10,000)
-
(3,117)
-
-
-
-
-
-
-
-
-
-
-
(2,575)
-
(91,740)
(2,726)
-
-
-
-
-
-
-
(3,464)
-
-
92,715
(15,680)
-|At
31.3.20
£
18,365
3,013
25,000|
|---|---|---|---|
||||46,378
3,569
19,684
1,845
1,082
-
-
-
16,528
-
-
-
-
1,555
-
-
610
-
-
2,548
12,557
20,000
10,405
-
-
-
-
-
2,671
-
1,672
9,041
13,700
3,500
-
2,500
25,197
92,715|
||||241,379|
||||287,757|
Page 17
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **14. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Unrestricted Capital fund
**Restricted funds**
Animal Grant
Baby Book Worm
Best Foot Forward Project
Bookshop
Capital fund - Gym equipment
Chess in Schools Project
Children in Need
Coalfields Regeneration
Coalfields Regeneration (Heat & Light)
Community Chest - Football & Netball
Festival of Learning
Literacy Workshops
Merthyr Valley Homes
Newsletter Project
Skiathos Fund
Sportslot
Vegetarian Society
Welsh Assembly Government
Eramus
Coalfields Cafe
Voluntary Action Methyr Tydfl
World Book Day
VAMT Dance Tutor
Holiday Hunger
Carers Cafe
South Wales Police Youth Trust
Fareshare
Rank Foundation
Adult Learners Week
Bruce Wakefield
Erasmus KTATSE
**TOTAL FUNDS**|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
113,524
(122,979)
(9,455)
-
(41)
(41)
113,524
(123,020)
(9,496)
-
(250)
(250)
26,271
(7,863)
18,408
-
(295)
(295)
-
(454)
(454)
1
(1,022)
(1,021)
4,423
(9,650)
(5,227)
2,500
(13,122)
(10,622)
-
(39)
(39)
-
(1,134)
(1,134)
-
(1,486)
(1,486)
-
(566)
(566)
-
(700)
(700)
(1)
(74)
(75)
-
(945)
(945)
-
(5,531)
(5,531)
1,500
-
1,500
-
(370)
(370)
-
(18,086)
(18,086)
-
(572)
(572)
-
(5,536)
(5,536)
1,234
-
1,234
24,000
(14,959)
9,041
14,500
(800)
13,700
1,512
(1,512)
-
240
(240)
-
3,500
-
3,500
3,500
(36)
3,464
1,000
(1,000)
-
1,000
(1,000)
-
2,500
-
2,500
32,924
(7,727)
25,197
120,604
(94,969)
25,635
234,128
(217,989)
16,139|
|---|---|
## **Purpose of Restricted Funds**
Animal Grant: Funding for engaging with Disadvantaged children through Animals as many young people may never have seen a sheep, a goat and Young people learn and develop through experiences
Baby Book Worm: Funding to be used to engage with parents and carers of pre-school children to give them a 'head start' in reading before attending school
Page 18
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **14. MOVEMENT IN FUNDS - continued**
Best Foot Forward Project: Funded by Ramblers Cymru, to enable to charity to help to create a healthier community who have a passion for walking
Big Music Project: Funded by Youth Cymru the project supports learning through Music. The project has worked alongside the Charities Spread the Word Festival creating a music Presence at the Festival on the parade, at venues and schools engaging people in all aspects of Music production
Bruce Wakefield - Funding for gym equipment
Capital fund - Gym equipment: To fund the purchase of gym equipment to be used in the Community Centre
Chess in Schools Project: Funding received to enable the charity to co-ordinate chess in primary and secondary schools in Merthyr Tydfil, and also runs half term, Easter and Summer chess clubs
Children in Need: We are very privileged to be in receipt of Children In Need monies these monies are funding a play worker to develop our # no phones and computer ethos and also the Newsletter project and supporting young people to Feel better about themselves, make better choices and expand their life skills
Clybiau Plant Cymru - Funding for afterschool resources and project extension
Coalfields Regeneration: Monies towards creating an energy efficient building by the installation of new lighting and heating
Comic Relief VSEF - To fund children's activity packs
Community Chest - Football & Netball: To fund the purchase of new equipment and development of new inclusion physical activity sessions
Community Foundation Wales - To fund general covid food parcels and welfare packs
Community In Need (CIN): Support for Covid - 19
Coalfields Cafe - To fund the staff costs at the community cafe
Creative Library: The fund the creation of community libraries, with eight being created to date, all with the aim to create a reading space to enthuse young people and raise literary standards.
Cwm Taf Morgannwg - £10,000 to support the charity during Covid-19 and £12,591 refurbishment at Dowlais Community Centre.
Erasmus - To fund a European youth project for best practice in youth work
Erasmus KTATSE - To fund an ongoing European project
Festival of Learning: Monies for adult education workshops to promote lifelong learning
Gardening Project: The Trust has won a green Flag award and the monies are to enhance and develop the project
Literacy Festival & World Book Day Fund: As part of the Trust's aim to raise literacy standards an enthuse the community to embrace books, the Trust hosts the Spread the Word Festival, on World Books Day, this is an annual event.
Martin Lewis: Support for Covid-19
Merthyr Valley Homes: A grant to develop the gardening project which has been awarded a green flag award and works with the most disadvantaged in the community
Page 19
continued...
# **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **14. MOVEMENT IN FUNDS - continued**
National Lottery - Support for Covid-19
Ramblers Association - To support walks in the community.
Rhondda Cynon Taff - Welsh Church Act: For the refurbishment of Dowlais Community Centre
Self Isolation: Support for Covid-19
Sportslot: sports equipment for the gymnasium at the Dowlais Community Centre
Stephens & George - Bursary: To fund gifted young people to pursue their education. Bursaries have been awarded to young people in attendance at Monmouthshire School, Oxford and Cambridge Universities
Stephens & George - Library: ASDA funding for the creation of community libraries in Merthyr Tydfil to promote the charity's ethos to raise literacy standards
Stephens & George - Monmouth: To provide funds to cover school fees at Monmouth School for specific individuals
Stephens & George - Brecon: To provide funds to cover school fees at Brecon for specific individuals
South Wales Police Youth Trust - To support te provision of youth and play workers
VAMT Dance Tutor - To fund the provision of a dance tutor.
VAMT Dementia - To support online sports therapy sessions
VAMT Covid 19 - To support the provision of food parcels
VAMT ICF - To support the provision of gong therapy
VAMT Story Book Covid 19 - To fund the Scarers and Carers Book
Voluntary Action Merthyr Tydfil - To fund a Health & Well Being awareness day
WCVA - Active Inclusion: to fund staff to work with 18 to 24 year olds to re-educate and retrain
Welsh Assembly Government: to refurbish the Dowlais Community Centre
World Book Day - To fund the world book day festival project.
Youth Camp - to fund the play work at the centre such as the after school and half term clubs. The ethos of the clubs is "No Phones, No Computers"
Restricted Capital Fund - this fund mirrors the NBV of fixed assets purchased using restricted funds, it will be released in line with depreciation.
## **Designated fund - HUB Project**
Relates to monies set aside for the potential purchase and subsequent renovations to a property. This property will be used as a hub for community projects.
## **Transfers between funds**
Transfers between the Chess in Schools Project, HUB Project, Coalfields Cafe, Erasmus, Fareshare and Sport Wales Funds represent reallocation of funds to accurately reflect the closing fund balances as at 31/03/2021.
Page 20
continued...
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **15. RELATED PARTY DISCLOSURES**
Donations of £11,647 (2020: £43,766) have been received from S & G Print Group Ltd, a company in which one of the Trustees is a Director.
Various donations in kind have also been received from S & G Print Group Ltd, including that of staff time and office accommodation. It is impossible to quantify the value of these donations, and they have not been included within the accounts.
## **16. DONATIONS IN KIND**
As identified in the Trustees' report, the Trust has received many donations in kind, among which include the donation of staff resources, office accommodation, books, materials and various other commodities, without which the Trust could not have carried out its work.
These donations of resources are almost impossible to quantify, and as such, have not been included at a monetary value within the accounts.
## **17.**
## **VOLUNTEER TIME**
The value of volunteer time is not quantified in terms of money, but the time contributed by volunteers is an invaluable resource.
||2021|2020|
|---|---|---|
|The number of hours contributed by volunteers is estimated at:|3,500|3,500|
||||
Page 21
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Grants
Admission fees and sundry sales
S&G Print Group Ltd
Sundry donations
**Other trading activities**
Fundraising events
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Bad debts
**Charitable activities**
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Advertising
Staff costs
Travel expenses
Bursaries and grants
Event costs
Classes
Sports
Property costs
IT costs
Deprecation of freehold property
Depreciation of fixtures & fittings
**Support costs**
**Bank charges**
Bank charges
**Governance costs**
Auditors' remuneration
Carried forward|2021
£
574,683
17,412
11,647
-
603,742
-
603,742
(86)
95,421
4,542
1,752
1,039
5,219
7,329
2,821
229
4,808
4,800
300
15,917
14,560
2,408
38,730
5,661
24,919
3,352
233,807
623
2,100
2,100|2020
£
114,909
69,375
43,766
448|
|---|---|---|
|||228,498
5,630|
|||234,128
32
109,431
5,730
1,545
3,327
1,406
9,028
1,440
1,718
1,242
7,056
-
25,861
13,423
1,331
10,966
248
19,220
3,029|
|||216,001
456
1,500
1,500|
This page does not form part of the statutory financial statements
Page 22
## **STEPHENS AND GEORGE CENTENARY CHARITABLE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 MARCH 2021**|||
|---|---|---|
|**Governance costs**
Brought forward
Counsellor
Total resources expended
**Net income**|2021
£
2,100
13,440
15,540
249,884
353,858|2020
£
1,500
-|
|||1,500|
|||217,989|
|||16,139|
This page does not form part of the statutory financial statements
Page 23