2020-08-31-accounts - Coleg Llanymddyfri

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	Contents
Report ofthe Trustees		1—7
Report ofthe Governors		8-15
Report ofthe Independent	Auditors	16 - 18
Statement of FinancialActivities		19-20
Balance Sheet		21-22
Statement ofCash Flows		23
Notes to the Financial Statements		24- SO

Charity name	Charity name			Coleg Llanymddyfri
Company	registration		number	08133485
Charity registration		number		1149946
				Linked charities:-
				1149946-1—Llandovery	College		(Thomas		Phillips	Foundation)		Trust
				1149946-3—Llandovery	College		Prize Ik Scholarship				Fund
				1149946-2—Coleg Llanymddyfri			(Cymru)
Registered office				The Bursary
				Llandovery College
				Queensway
				Llandovery
				Carmarthenshire
				SA20 OEE.
Directors/trustees				Mr JTGravell
				Mr D R Rees-Evans
				Mrs R E Williams
				Mr D H Jones
				Mr G Stroud
Company	Secretary			Mr] TGravell
Principal	bankers			NatWest Bank
				Llandovery Branch
				59Rhosmaen Street
				I.l an de ilo
				Dyfed
				SA196HB
Auditors				Azets Audit Services
				Chartered Accountants	5	Statutory Auditors
				Ty Drew
				Lime Tree Court
				Cardiff Gate Business Park
				Cardiff
				CF23 BAB
Legal advisors				Stone King		Morgan		LaRoche
				13Queen Square		Bay House
				Bath		Tawe Business Village
				BA1 2HJ		Swansea		Enterprise			Park
						Swansea
						West Glamorgan
						SA7 9LA

College now h	as a more sustain
Year	Pupil to FT
	teacher ratio
2019-20	5.6:1
2018-19	7.4:1

Financial	Results
		2020	2019
Academic	Roll	231	260
Average	Net Fee Income	13,242	13,946
Recurring	EBITDA'	-301,475	-354,966

					Total	Total
			Unrestricted	Restricted	funds	funds
		Note	funds	funds	2020	2019
			E	E	E	E
Income and endowments	from:
Donations and legacies		3	59,563	169,777	229,340	1,150,552
Charitable activities		4	3,079,035		3,079,035	3,932,660
Investments		5	218		218	(1,427)
Trading company income		12	133,179		133,179	280,617
Totalincome and endowments			3,271,995	169,777	3,441,772	5,362,402
Expenditure on:
Charitable activities		6	3,766,793	169,777	3,936,570	4,951,025
Total expenditure			3,766,793	169,777	3,936,570	4,951,025
Net income/(expenditure)		10	(494,798)		(494,798)	411,377
Reconciliation of Funds
Total funds brought forward		22.23	5,737,718		5,737,718	5,326,341
Totalfunds carried forward		24	5,242,920		5,242,920	5,737,718

					Total	Total
			Unrestricted	Restricted	funds	funds
		Note	funds	funds	2020	2019
			E	f		f
Income and endowments	from:
Donations and legacies						1,066,338
Charitable activities			12,000		12,000	12,000
Total income and endowments			12,000		12,000	1,078,338
Expenditure on:
Charitable activities		6	112,000		112,000	495,279
Total expenditure			112,000		112,000	495,279
Net movement infunds			(100,000)		(100p000)	583,059
Reconciliation ofFunds
Total funds brought forward		22	962,430		962,430	379,371
Total funds carried forward		24	862,430		862,430	962,430

					Note	2020	2019
						E	f
Net cash provided by operating activities					30	(602,407)	1,010,576
Cash flows from investing activities:
Dividends, interest and rents from investments						218	(1,427)
Purchase of property plant and equipment						(95,059)	(203,966)
Net cash used in investing activities						(94,841)	(205,393)
Cash flows from financing activities:
Repayments ofborrowing						(9,042)	(305,280)
Cash inflows from new borrowing						350p000
Net cash provided by (used in) financing		activities				340,958	(305,280)
Change in cash and cash equivalents	in the		reporting	period		(356,290)	499,903
Cash and cash equivalents at the beginning			ofthe reporting
period						1,271,883	771,979
Cash and cash equivalents atthe end	ofthe		reporting	period	30	915p593	1,271,883

Property	- not depreciated and revalued	- not depreciated and revalued	trustees	on an annual
Property improvements	-2 96straight	line
Sports facilities	-20%straight	line
Motor vehicles	-20%straight	line
Fixtures and fittings	-20%straight	line
Works ofart	- not depreciated and are reviewed		annually	for impairment

			Unrestricted	Restricted	Total	Total
			funds	funds	2020	2019
Garou			E	E		E
Donations	and gifts		10,053		10,053	98,562
Legacies						1,051,990
Grant Income			49,510	169,777	219,287
			59,563	169,777	229,340	1,150,552
			Unrestricted	Restricted	Total	Total
			funds	funds	2020	2019
Charity			E	E	f	E
Covenant	from Coleg Llanymddyfri
(Menter)	Limited					8,797
Covenant	from Llandovery	College
Nursery	School Limited					12,551
Legacies						1,044,990
						1,066,338

						Unrestricted	Restricted	Total	Total
						funds	funds	2020	2019
~Grou						E	E	E	f
Fees and other fees			receivable			3,058,950		3p058p950	3,626,076
Registration		fees				1,145		1,145	4,256
Transport	recoveries								74,442
Catering recoveries,			trips and other			18,940		18,940	227,886
						3,079,035		3,079,035	3,932,660
								Total	Total
								2020	2019
Fees receivable consist				of:					f
Gross fees								4,606,351	5,291,295
Less:total		scholarships,		bursaries	and	remissions		(1,547,401)	(1,665,219)
								3,058,950	3,626,076
Gross fees receivable			may be analysed			by the following:
Boarders								2,354,281	2,979,064
Day pupils								2,019,126	1,995,434
Music and	drama tuition							20,298	30,572
Other fee income								212,646	286,225
								4,606,351	5,291,295
						Unrestricted	Restricted	Total	Total
						funds	funds	2020	2019
Charity						E	E	E	f
Licences						12,000		12,000	12,000
						12,000		'12,000	12,000

INCOME FR	O	M INVESTMENT	S	S
			Unrestfficted		Restfficted	Total	Total
~Grou				funds f	funds	2020f	2019 f
Bank interest				218		218	(1,427)
				218		218	(1,427)
EXPENDITURE ON CHARITABLE ACTIVITIES
						Total	Total
~Grou			Staffcostsf	Other f	Depreciation f	2020 f	2019f
Charitable	activities
School actlvltlesr
Teaching			1,673,979	119,432		1,793,411	2,084,677
Welfare				392,985		392,985	660,579
Premises				360,508		360,508	525,704
Support		costs	683,738	389,040	77,873	1,150,651	1,401,500
Trading companies				208,497		208,497	265,825
Governance		costs		30,518		30,518	12,740
			2,357,717	1,500p980	77,873	3,936,570	4,951,025
Charity
Charitable	activities
Donation			112,000			112,000	495,279
			112,000			112,000	495,279
						Total	Total
Support costs for the group			consist ofthe	following:		2020f	2019 f
Wages						683,73$	719,386
Telephone						20,037	14,498
Marketing						13,624	25,243
Licenses and		insurance				90,562	104,269
Printing and		office				72,0$4	90,917
Travel and entertainment						3,622	3,142
Professional		fees				132,631	161,918
Bad debts						50,391	135,342
Finance charges						427	74,282
Depreciation						77,873	75,417
Sundries						5,662	(2,914)
						1,150,651	1,401,500

			FOR THE YEAR ENDED	FOR THE YEAR ENDED	31AUGUST	2020
7.	FEESFOR EXAMINATION		OF THE ACCOUNTS
						Total		Total
						2020		2019
	~Grou							E
	Auditors fees					21,990		12,652
						21,990		12,652
8.	STAFF COSTS AND EMOLUMENTS
						Total		Total
						2020		2019
							f	E
	Total staff costs comprised:
	Wages and salaries					1,923,159		2,082,266
	Social security	costs				164,745		182,916
	Pension contributions					265,820		188,951
	Redundancy costs					3,413		24,020
						2,357,137		2,478,153
	The number of	employees	whose emoluments		forthe year	fell within the following	bands were:
						Total		Total
						2020		2019
						No		No
	In the band f60,000-f69,999							1
	In the band E90,000 -f89,999					1
	The number of	higher paid employees		to whom	retirement	benefits were accruing	isas follows:
						Total		Total
						2020		2019
						No		No
	In the band E60,000-669,999
	In the band f90,000 -f99,999
	The employer's	pension contributions		for higher paid employees were as follows:
						Total		Total
						2020		2019
						E		f
	In the band f60,000-f69,999							10,094
	In the band E90,000-699,999					18,996

The average monthly number	ofstaff employed during the ye	ar was as follows:
		Total	Total
		2020	2019
		No	No
Teaching staff		61	67
Support staff		25	29
		86	96
NET INCOME/(EXPENDITURE)	FOR THE YEAR
		Total	Total
Garou		2020	2019
		E	E
This isstated after charging:
Staff pension contributions		246,824	188,951
Depreciation		89,708	81,946
Auditors remuneration:
Audit offinancial statements		21,990	12,652

		Property			Fixtures
	Land and	improve-	Works	Plant and	and	Motor
~Grou	propertyf	ments f	ofart f	machinery f	fittingsf	vehicles	Totalf
Cost
At 1September 2019	5,165,000	553,022	100,000	210,290	516,867	36,990	6,582,169
Additions		47,9&2		6,623	40,454		95,059
At 31August 2020	5,165,000	601,004	100,000	216,913	557,321	36,990	6,677,228
Depreciation
At 1September 2019		34,609		159,330	356,702	36,990	587,631
Charge forthe year		19,363		14,420	56,019		89,802
At 31August 2020		53,972		173,750	412,721	36,990	677,433
Net book values
At 31August 2020	5,165,000	547,032	100,000	43,163	144,600		5,999,795
At 31August 2019	5,165,000	518,413	100,000	50,960	160,165		5,994,538

summary ofthe results is shown below:
	2020	2019
	f	E
Summary Profit and Loss Account:
Income
Results forthe year
Summary Balance Sheet:
Total assets	50,00$	50,007
Amounts falling due within one year	(1)	(1)
Total assets less liabilities	50,007	50,006
Capital and reserves
Called up share capital	1	1
Profit and loss reserves	50,006	50,005
Total equity	50,007	50,006

summary ofthe results	are sho	wn	below:
				2020	2019
				E	E
Summary Income and	Expenditure		Account:
Income				80,965	131,782
Cost ofsales				(5,033)	(6,018)
Administrative expenses				(145,037)	(120,997)
Operating profit				(69,105)	4,767
Covenant to Coleg Llanymddyfri					(12,551)
Other income				49,510	3,155
Results for the year				(19,595)	(4,629)
Statement ofchanges	in Equity
Balance brought forward				(3,950)	679
Profit and total comprehensive		income for the period		7,922	7,922
Distributions to parent	charity under		gift aid	(12,551)	(12,551)
Balance carried forward				(8,579)	(3,950)
Summary Balance Sheet:
Total assets				73,408	94,055
Amounts falling due within one		year		(96,953)	(98,005)
Net assets				(23,545)	(3,950)
Capital and reserves
Profit and loss reserves				(23,545)	(3,950)
Total equity				(23,545)	(3,950)

summary ofthe results isshow	n below:
		2020	2019
		E	f
Summary Profit and Loss Account:
Income		52,214	145,680
Cost ofsales		(44,765)	(95,396)
Administrative expenses		(13,662)	(43,414)
Operating profit		(6,213)	6,870
Covenant to Coleg Llanymddyfri			(8,797)
Result for the year		(6,213)	(1,927)
Statement ofchanges in Equity
Balance brought forward		(685)	1,242
Profit and total comprehensive	income for the period	(6,2131	6,870
Distributions to parent charity under gift aid			(8,797)
Balance carried forward		(6,898)	(685)
Summary Balance Sheet:
Total assets		65,254	107,542
Amounts falling due within one	year	(72,152)	(108,227)
Total assets less current liabilities		(6,898)	(685)
Capital and reserves
Called up share capital		1	1
Profit and loss reserves		(6,898)	(686)
Total equity		(6,897)	(685)

summary ofthe results are shown	below:
		2020	2019
		E	f
Summary Income and Expenditure	Account:
Total income		3,420,191	4,167,573
Total expenditure		(3,799,966)	(4,672,022)
Net expenditure		(379,775)	(504,449)
Summary Balance Sheet:
Total assets		1,885,521	1,214,961
Total liabilities		(3,985,607)	(2,935,272)
Net liabilities		(2,100,086)	(1,720,311)
The funds ofthe charity:
Unrestricted funds carried forward		(2,100,086)	(1,720,311)
Restricted fund carried forward
Totalcharityfunds		(2,100,086)	(1,720,311)

summary of	the results are shown	below:
			2020	2019
			f	E
Summary Income and Expenditure		Account:
Total income			160,000	909,000
Total expenditure			(149,217)	(669,695)
Net income			10,783	239,305
Summary Balance Sheet:
Total assets			6,507,097	6,496,312
Total liabilities			(150,000)	(150,000)
Net assets			6,357,097	6,346,312
The funds of	the charity:
Unrestricted	funds:
Fixed assets	reserve		5,215,000	5,215,000
Generalreserves			1,142,095	1,131,312
Total charity	funds		6,357,095	6,346,312

summary of	the results are shown	below:
			2020	2019
			E	E
Summary income and Expenditure		Account:
Total income				900,077
Total expenditure				(800,077)
Net expenditure				100,000
Summary Balance Sheet
Total assets			103,905	103,905
Net assets			103,905	103,905
The funds of	the charity:
Unrestricted	funds carried forward		103,905	103,905

13.	STOCKS
				Total	Total
	Group			2020	2019
					f
	Goods for resale			48,869	57,071
14.	DEBTORS
		Group	Charity	Group	Charity
		Total	Total	Total	Total
		2020	2020	2019	2019
		E		E	E
	Trade debtors	433,394		243,345
	Balances due from group
	undertakings		841,860		441,860
	Other debtors	54,144		31,088
		487,538	841,860	274,433	441,860
15.	CASH AT BANK AND IN HAND
		Group	Charity	Group	Charity
		Total	Total	Total	Total
		2020	2020	2019	2019
		f	6	E	f
	Cash at bank and in hand	915,593	20,575	1,271,883	520,574
		915,593	20,575	1,271,883	520,574

			Group	Charity	Group	Charity
			Total	Total	Total	Total
			2020	2020	2019	2019
					f
Creditors			121,136		243,537
Other creditors			245,307		272,485
Socialsecurity	and other taxes		79,456		172,824
Accruals and deferred		income	1,375,520		1,051,837
Hire purchase			8,231		24,894
Loans			25,770		9,636
Balance due to	group	undertakings
			1,855,420		1,775,213

	Group	Charity	Group	Charity
	Total	Total	Total	Tota I
	2020	2020	2019	2019
	f	f	f	f
Loans	347,215		22,484
Deferred income			48,336
Hire purchase	10,147		18,079
	357,362		88,899

						Total	Total
						2020	2019
						f	f
Balance	atthe start ofthe reporting			period		1,042,073	1,385,196
Amounts	added	in the current	period			3,038,116	3,282,952
Amounts	released to income		from previous		periods	(2,778,693)	(3,626,075)
Balance	atthe	end ofthe reporting		period		1,301,496	1,042,073

		Advance	fees	Final term	deposits	Grant funding
		2020	2019	2020	2019	2020	2019
		f	f	f	f	f	f
Within	1year	1,224,836	924,924	76,660	68,813
Within	2-5 years		48,336
		1,224,836	973,260	76,660	68,813

	The amount	repayab	le on the loan is as follows:
				Total	Total
				2020	2019
				f	f
	Repayable	within 1year		25,770	9,636
	Repayable	between	two and five years	347,215	22,484
				372,985	32,120
20.	HIRE PURCHASE CONTRACTS
				Total	Total
				2020	2019
				f	f
	Repayable	within 1year		8,231	24,894
	Repayable	between	2 and 5years	10,147	18,079
				18p378	42,973

		Land and	buildings	Other		Motor	vehicles
		2020	2019 f	2020f	2019 f	2020 f	2019 f
Within	1year	60,000	60,000	35,657	32,537	5,602	5,602
Within	2-5 years			46,869	12,574	5,157	10,773
		60p000	60,000	82,526	45,111	10,759	16,375

		Balance at 1					Balance at
		September				Gains/	31August
~Grou		2019 f	Income f.	Expendituref	(losses) f		2020 f
General	funds	5,737,718	3,271,995	(3,766,793)			5,242,920
		5,737,718	3,271,995	(3,7663BI+,485		-	5,$82892)283)
Charity
General	funds	962,430	12,000	(112,000)			862,430
		962,430	12,000	(112,000)			862,430
		Balance at 1					Balance at
		September				Gains/	31August
~Grou		2018 f	Income f	Expendituref	(losses) f		2019 f
General	funds	5,325,341	5,362,402	(4,950,025)			5,737,718
		5,325,341	5,362,402	(4,950,025)			5,737,718
Charity
General	funds	379,371	1,078,338	(495,279)			962,430
		379,371	1,078,338	(495,279)			962,430

ESTRICTED F	UNDS
		Balance at			Balance at
		1September			31August
		2019	Income	Expenditure	2020
Garou		f		E	E
Job Retention	Support Grant		169,777	(169,777)
			169,777	(169,777)

			Balance at			Balance at
		1	September			31August
Garou			2018f	Income E	Expenditure E	2019 E
War	Memorial		1,000		(1,000)
			1,000		(1,000)

NALYSIS OF NET ASSETS BETWE	EN FUNDS
		Group		Charity
	Unrestricted	Restffcted		Unrestricted
	funds	funds	Total	funds
	f	E	E	E
Fixed assets	5,999,795		5,999,795
Fixed assets investments	3,907		3,907	2
Net current (liabilities)/assets	(403,420)		(403,420)	862,428
Long term liabilities	(357,362)		(357,362)
Total net assets	5,242,920		5,242,920	862,430

		Group			Charity
	Unrestricted	Restricted			Unrestricted
	funds	funds		Total	funds
	E		E	E	E
Fixed assets	5,994,538			5,994,538
Fixed assets investments	3,905			3,905
Net current (liabilities)/assets	(171,826)			(171,826)	962,428
Long term liabilities	(88,899)			(88,899)
Total net assets	5,737,718			5,737,718	962,430

									Total	Total
									2020	2019
									E	E
Contracted	for	but	not	provided	in	the	financial	statements

	~Grou								2020	2019
									E	f
	Net income/(expenditure) for the reporting					pedod	(as per the
	Statement of Financial Activities)							(494,798)		411,377
	Adjustments for:
	Depreciation charges								89,802	81,946
	Dividends, interest	and rents from investments							(218)	1,427
	(Increase)/decrease		in stocks						8,202	23,617
	(Increase)/decrease		in debtors					(213,105)		639,657
	Increase/(decrease)		in creditors						7,710	(147,448)
	Net cash provided	by/(used in) operating			activities			(602,407)		1,010,576
	Analysis ofCash and		Cash Equivalents
	Cash in hand							915p593		1,271,883
	Total Cash and Cash		Equivalents					915,593		1,271,883
	Anal sisof chan as	in net funds
							New		Other	Balance
			Opening				finance	Interest	non-cash	carried
			balance 6	Cash-flows			leasesf	changes E	changes E	forwardf
Cash			1,271,883	499,904						915,592
l.oans	falling due within
one year			(9,636)		10,431		25,770	795		(25,770)
Bank	loans falling due
after	more than one year		(22,484)				324,230			(347,215)
Finance lease obligations			(42,973)		29,674			5,079		(18,378)
Total			1,196,790	540,009			350,000	5,874	-	524,229

				Total
		Unrestricted	Restricted	funds
		funds	funds	2019
Garou		E	E	E
Income and endowments	from:
Donations and legacies		1,150,552		1,150,552
Charitable activities		3,932,660		3,932,660
Investments		(1,427)		(1,427)
Trading company income		280,617		280,617
Total income and endowments		5,362,402		5,362,402
Expenditure on:
Charitable activities		4,950,025	1,000	4,951,025
Total expenditure		4,950,025	1,000	4,951,025
Other recognised gains/losses:
Net gains/(losses) on revaluation
Net income/(expenditure)		41.2,377	(1,000)	411,377
Reconciliation ofFunds
Total funds brought forward		5,325,341	1,000	5,326,341
Totalfunds carried forward		5,737,718		5,737,718
Charity
Income and endowments	from:
Donations and legacies		1,066,338		1,066,338
Charitable activities		12,000		12,000
Total income and endowments		1,078,338		1,078,338
Expenditure on:
Charitable activities		495,279		495,279
Total expenditure		495,279		495,279
Net movement infunds		583,059		583,059
Reconciliation of Funds
Total funds brought forward		379,371		379,371
Totalfunds carried forward		962,430		962,430