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||||||||Page|
|---|---|---|---|---|---|---|---|
|Trustees'|annual
report (incorporating|||the|director's|report)||
|Independent
auditor's||report to|the members|||||
|Statement|offinancial|activities|(including||income and|||
|expenditure
account)|||||||16|
|Statement|offinancial|position|||||17|
|Statement|offinancial|position - Charity|||||18|
|Statement|ofcash flows||||||19|
|Notes to the financial||statements|||||20|
##
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##
|Reference||snd administrative|snd administrative|snd administrative|details|||||
|---|---|---|---|---|---|---|---|---|---|
|Registered||charity|name||Coleg Llanymddyfri|||||
|Charity registration|||number||1149946|||||
|Company||registration||number|08133485|||||
|Principal|office and||registered||The Bursary|||||
|office|||||Llandovery
College|||||
||||||Llandovery|||||
||||||Carmarthenshire|||||
||||||SA20 0EE|||||
|The trustees||||||||||
||||||Mr D R Rees-Evans|||||
||||||Mr D H Jones —Resigned||31/1|2/2022||
||||||Mr G Stroud|||||
||||||Mr J Gravell|||||
||||||Mrs R E Williams|||||
|Auditor|||||James & Uzzell|Ltd||||
||||||Chartered
Certified Accountants|||&Statutory|Auditor|
||||||Axis 15,Axis Court|||||
||||||Mallard
Way|||||
||||||Riverside
Business Park|||||
||||||Swansea|||||
||||||SA7 OAJ|||||
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|||||||||Period from|
|---|---|---|---|---|---|---|---|---|
|||||||||1 Sep 21 to|
||||||Year|to 31Aug|23|30Aug 22|
||||||Unrestricted|Restricted|||
|||||Note|funds
6|funds
6|Total funds
f|Total funds
f|
|Income and endowments|||||||||
|Donations|and legacies|||4|46,953||46,953|175,311|
|Charitable
Investment|activities
income|||5
6|4557540
1,254||4,557,540
1,254|3,860,310
50|
|Other income||||7|161,197||161,197|93,613|
|Total income|||||4,766,944||4,766,944|4,129,284|
|Expenditure|||||||||
|Expenditure|on raising funds:||||||||
|Costs|of trading
activities|||9|90,161||90,161|37,854|
|Expenditure|on charitable||activities|9,10|4,512,047|12,561|4,524,607|4,139,105|
|Total expenditure|||||4,602,208|12,561|4,614,768|4,176,959|
|Net income/(expenditure)|||and net||||||
|movement|in funds||||164,736|(12,561)|152,176|(47,675)|
|Reconciliation offunds|||||||||
|Total funds|brought|forward|||4,940,113|262,429|5,202,542|5,250,217|
|Total funds|carried|forward|||5,104,849|249,868|5,354,717|5,202,542|
##
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|31August|202|3||||||
|---|---|---|---|---|---|---|---|
||||||Note|2023
6|2022
f|
|Fixed assets||||||||
|Tangible fixed assets
Investments|||||15
16|7,631,717
3,905|6,769,119
3,905|
|||||||7,635,622|6,773,024|
|Current assets||||||||
|Stocks|||||17|47,407|54,069|
|Debtors|||||18|1,455,851|296,268|
|Cash at bank|and|in hand||||866,691|711,940|
|||||||2,369,949|1,062,277|
|Creditors: amounts|||falling|due within one year|20|3,805,929|2,405,263|
|Net current|liabilities|||||1,435,980|1,342,986|
|Total assets|less|current||liabilities||6,199642|5,430,038|
|Creditors: amounts|||falling|due after more than one year|21|844,924|227,496|
|Net assets||||||5,354,718|5,202,542|
|Funds ofthe charity
Restricted funds||||||249,868|262,429|
|Unrestricted|funds|||||5,104,850|4,940,113|
|Total charity|funds||||24|5,354,718|5,202,542|
##
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||||30Aug 23|31 Aug 22|
|---|---|---|---|---|
||||6||
|Fixed assets|||||
|Investments|||||
|Current assets|||||
|Debtors
Cash at bank and in|hand||141,860
20,575|141,860
20,575|
||||162,435|162,435|
|Creditors: amounts|falling due within one year||||
|Net current assets|||162,428|162,428|
|Total assets less current liabilities|||162,430|162,430|
|Funds ofthe charity|||||
|Unrestricted
funds|||162,430|162,430|
|Total charity funds||24|162,430|162,430|
##
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##
|Coleg Llanymddyfri
Company
Limited
by Guarantee
Statement ofCash Flows
Year ended 31 August 2023|||||
|---|---|---|---|---|
|||Note|2023
f|2022|
|Cash flows from operating
activities
Net income/(expenditure)|||152,176|(47,675)|
|Adjustments
for:
Depreciation
oftangible
fixed assets
Other interest receivable
and similar income|||91,920
(1,254)|74,775
(50)|
|Interest payable
and similar charges|||17,498|28,221|
|Chengesin:
Stocks|||6,662|(1)|
|Trade and other debtors|||(1,159,583)|(255,529)|
|Trade and other creditors|||1,419,341|663,964|
|Cash generated
from operations|||526,760|463,705|
|Interest paid
Interest received|||(17,498)
1,254|(28,221)
50|
|Net cash from operating
activities|||510,516|435,534|
|Cash flows from investing
activities
Purchase
oftangible assets|||'(954,518)|(573,633)|
|Net cash used
in investing
activities|||(954,518)|(573,633)|
|Cash flows from financing
activities
Proceeds from borrowings
Payments
offinance lease liabilities|||614,373
(15,642)|(80,353)
(12,402)|
|Net cash from/(used
in) financing
activities|||598,731|(92,755)|
|Net increase/(decrease)
in cash and cash
Cash and cash equivalents
at beginning|equivalents
ofyear||154,729
711,828|(230,854)
942,682|
|Cash and cash equivalents
at end ofyear||19|866,557|711,828|
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|Property|not depreciated|not depreciated|and revalued|by trustees|on an annual|basis|
|---|---|---|---|---|---|---|
|Land and buildings|2% straight|line|||||
|Plant and machinery|20% straight||line||||
|Fixtures and fittings|20% straight||line||||
|Motor vehicles|20% straight||line||||
|Works of art|not depreciated||end revalued|by trustees|on an annual|basis|
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|||||||Unrestricted|Unrestricted|Unrestricted|Total|Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Funds||2023|Funds|2022|
|||||||||||6|6|F|
||Donations||||||||||||
||Donations|and gifts||||||15,597||15,597|175,311|175,311|
||Legacies
Legacies|||||||31,356||31,356|||
|||||||||46,953||46,953|175,311|175,311|
|5.|Charitable|activities|||||||||||
||Fees receivable|||consist|of:||||||||
||||||||||||2023|2022|
|||||||||||||6|
||Gross fees||||||||||6,139,850|5,232,874|
||Less: total|scholarships,|||bursaries|and remissions|||||(1,582,310)|(1,372,564)|
||Net Fees||||||||||4,557,540|3,860,310|
||Gross Fees||receivable||may be|analysed|by|the following:|||2023|2022|
||||||||||||6|6|
||Boarders||||||||||2,999,276|2,611,145|
||Day pupils
Music and|drama||tuition|||||||2,652,785
37,956|2,235,450
27,274|
||Other fee income||||||||||449,833|359,005|
||||||||||||6,139,850|5,232,874|
||Charity|||||Unrestricted||||Total|Funds
Total|Funds|
||||||||Funds
Restricted||||2023|2022|
||||||||f|||||6|
||Licences||||||12,000||||12,000|12,000|
|6.|Investment||income||||||||||
||||||||Unrestricted||Total|Funds|Unrestricted|Total Funds|
|||||||||Funds
f||2023|Funds|2022
f|
||Bank interest receivable|||||||1,254||1,254|50|50|
##
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##
|Other inc|ome||||||
|---|---|---|---|---|---|---|
||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||Funds
F|2023
f|Funds
6|2022
6|
|Insurance|claims||116,882|116,882|4,670|4,670|
|Trading company||income|44,315|44,315|88,943|88,943|
||||161,197|161,197|93,613|93,613|
##
|Expendit|ure
on charitable
activit|ies
by fund type|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total Funds|
|||Funds
f|Funds
5|2023
6|
|Teaching||2,018,901||2,018,901|
|Welfare||767,677||767,677|
|Premises||344,224||344,224|
|Support|costs|1,381,245|12,561|1,393,805|
|||4,512,047|12,561|4,524,607|
|||Unrestricted|Restncted|Total Funds|
|||Funds
f|Funds
F|2022
5|
|Teaching||2,059,457||2,059,457|
|Welfare||655,931||655,931|
|Premises||418,025||418,025|
|Support|costs|1,005,692||1,005,692|
|||4,139,105||4,139,105|
##
|Expenditure|on charitable
a|ctivities by activity typ|e|||
|---|---|---|---|---|---|
|||Activities||||
|||undertaken||Totalfunds|Total fund|
|||directly|Support costs|2023|2022|
|||5|5|6||
|Teaching||2,018,901|1,373,087|3,244,671|3,046,188|
|Welfare
Premises||767,677
344,224||767,677
344,224|655,931
418,025|
|Governance|costs|||20,718|18,961|
|Trading Expenses||99,864||99,864|97,888|
|||3,220,963|1,393,805|4,614,768|4,176,959|
##
##
##
##
|Analysis ofsupp|ort costs||||
|---|---|---|---|---|
|||Support costs|Total 2023|Total 2022|
|||F|8||
|Staff costs||825,835|825,835|636,301|
|Communications|and IT|16,768|16,768|16,268|
|General
office||1,293|1,293|2,025|
|Finance costs||17,498|17,498|28,221|
|Marketing
Licenses and insurance||1,081
130,876|1,081
130,876|1,366
113,312|
|Printing
and office
Professional fees||94,487
40,242|94,487
40,242|75,657
37,194|
|Bad debts||147,317|147,317||
|Depreciation
Penalties
and surcharges||91,920
5,770|91,920
5,770|67,782
1,612|
|||1,373,087|1,373,087|979,738|
||Net income/(expe|nditure)|is stated after charging/(crediting):|||
|---|---|---|---|---|---|
|||||2023|2022
f|
||Depreciation
of|tangible|fixed assets|91,920|74,775|
|12.|Auditors
remuneration|||||
|||||2023|2023|
||Auditors fees|||20,720|18,959|
||Other assurance|work||||
|||||20,720|18,959|
##
|full-time
equivalent|employ|
ees|
during the year|is analysed
as follows:|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||No.|No.|
|Teaching staff
Support staff|||||48
46|47
49|
||||||94|96|
|The number ofemployees||whose remuneration||for the year fell within the|following
2023|bands, were:
2022|
||||||No.|No.|
|F60,000to F69,999|||||2|2|
|f70,000tof79,000|||||2||
|F.120,000 to F129,999|||||1||
||||29||||
##
##
##
##
|tes to the F
ar ended 31|inancial Statement
August 2023|s
&vananvedj||
|---|---|---|---|
|The aggregate|payroll costs incurred|during the year, relating to the above, were:||
|||2023|2022
f|
|Wages and salaries||2,296,957|2,194,142|
|Social security|costs|~202 508|~18 471|
##
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##
##
##
##
|||||Fixtures,||||
|---|---|---|---|---|---|---|---|
||Property
Improvements
F|Land &
Property
F.|Plant and
machinery
f|fittings and
equipmentf|Motor
vehicles
f|Works ofart
f|Total
f|
|Cost||||||||
|At
31 Aug 2022
Additions|1,394,970
892,949|5,165,000|298,693|613,795
61,569|36,990|100,000|7,609,448
954,518|
|At
31Aug 2023|2,287,919|5,165,000|298,693|675,364|36,990|100,000|8,563,966|
|Deprsciatio||||||||
|ii||||||||
|At
31 Aug 2022|94,168||212,704|496,467|36,990||840,329|
|Charge for
the year|32,667||24,448|34,805|||91,920|
|At||||||||
|31 Aug 2023|126,835||237,152|531,272|36,990||932,249|
|Carrying||||||||
|amount||||||||
|At
31 Aug 2023|2,161,084|5,165,000|61,541|144,092||100,000|7,631,717|
|At
30Aug 2022|1,300,802|5,165,000|85,989|117,328||100000|6769119|
##
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##
|Investments||||
|---|---|---|---|
||||Listed|
||||investments|
|Cost or valuation||||
|At 31August|2022 and 31August 2023||3,905|
|Impairment||||
|At 31August|2022 and 31August 2023|||
|Carrying
amount||||
|At 31August|2023||3,905|
|At 30August|2022||3,905|
|All investments|shown above are held at valuation.|||
|The company|has the following|subsidiaries:||
##
##
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##
##
|A summary ofthe results is shown below:|||
|---|---|---|
||2023|2022|
|Summary
Profit and Loss|||
|Income|||
|Summary ofbalance sheet
Total assets
Amounts
falling due within one year|50,011
~1|50,010
~1|
|Total Assets less liabilities|50,010|50,009|
|Capital and reserves|||
|Called up share capital
Reserves|1
50009|1
Sl}008|
|Total Equity|||
##
##
##
##
##
|||2023|2022|
|---|---|---|---|
||||8|
|Summary
Profit and Loss||||
|Income
Cost ofsales||1,060
(1,068)|36,268
(6,577)|
|Administrative
expenses||{6655|{447585|
|Operating
profit||(663)|(17,893)|
|Covernant
to Coleg Llanymddyfri||||
|Other income||||
|Results for the year||663|17893|
|Statement ofchanges in equity||||
|Balance brought
forward||(61,725)|(38,191)|
|Profit and total comprehensive|income for the period|~663|~17893|
|Balance carried forward
Summary ofbalance sheet||{6623 8'}|L55084)|
|Total assets||64,950|70,598|
|Amounts
falling due within one|year|(127,338)|(126,683)|
|Total Assets less liabilities
Capital and reserves|||{SQlgd)|
|Profit and loss reserves
Total Equity||(62,388)
5245$|(56,084)|
##
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##
|A summary
ofthe results is shown below:|A summary
ofthe results is shown below:|||
|---|---|---|---|
|||2023|2022|
|||8|8|
|Summary
Profit and Loss
Income||55,254|63,629|
|Cost ofsales||(59,127)|(50,673)|
|Administrative
expenses||{337971|~17319|
|Oprerating
profit||(41,844)|(4,363)|
|Covernant to Coleg Llanymddyfri||||
|Results for the year||~41 844|{44363|
|Statement ofchanges in equity
Balance brought forward||(530)|3,833|
|Profit and total comprehensive|income for the period|~41 844|~4363|
|Balance carried forward||~42 374|(553}|
|Summary ofbalance sheet||||
|Total assets||968,164|129,287|
|Amounts
falling due within one|year|(1,010,538)|(129,817)|
|Total Assets less liabilities||||
|Capital and reserves||||
|Called up share capital
Profit and loss reserves||1
(42,375)|1
(531)|
|Total Equity||||
##
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##
|A summary ofthe results is shown below:|||
|---|---|---|
||2023|2022|
||8||
|Summary
Profit and Loss|||
|Total Income|4,782,629|4,112,341|
|Total expenditure|(4,587,940)|(4,209,938)|
|Net expenditure||~97597|
|Summary ofbalance sheet|||
|Total assets|3,780,668|2,220,590|
|Total Liabilities
Net liabilities|(5,772,443)
@R&MK|(4,407,054)
Q@M6$|
|The funds ofthe charity|||
|Unrestricted
funds caried forward|(2,241,642)|(2,448,893)|
|unrestricted
funds carried forward|249,868|262,429|
|Total Charity funds|||
##
##
|A summary
ofthe results is shown below:|||
|---|---|---|
||2023|2022|
|Summary
Protit and Loss|||
|Total Income|60,000|60,000|
|Total expenditure|(60,008)|(60,008)|
|Net expenditure|(8)|(8)|
|Summary ofbalance sheet|||
|Total assets|6,609,069|6,357,081|
|Total Liabilities|(252,000)||
|Net Assets|||
|The funds ofthe charity|||
|Unrestricted
funds|||
|Fixed asset reserve|5,215,000|5,215,000|
|General reserve|1,142,069|1,142,081|
|Total Charity funds|||
##
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##
|A summary|ofthe results is shown below:|||
|---|---|---|---|
|||2023|2022|
|Summary|Profit and Loss|||
|Total income||||
|Total expenditure||||
|Net expenditure||||
|Summary|ofbalance sheet|||
|Total assets||103,905|103,905|
|Net Assets||||
|The funds|ofthe charity|||
|Unrestricted|funds caried forward|||
##
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##
|17.|Stocks||||||
|---|---|---|---|---|---|---|
||||||2023|2022
f|
||Raw materials|and consumables|||47,407|54,069|
|18.|Debtors||||||
||||||2023|2022
f|
||Trade debtors||||1,353,143|229,941|
||Prepayments
and accrued income
Other debtors||||54,557
48,151|41,722
24,605|
||||||1,455,851|296,268|
|19.|Cash and cash equivalents||||||
||Cash and cash|equivalents|comprise the following:||||
||||||2023
8|2022
f|
||Cash at bank and in hand||||866,691|711,940|
||Bank overdrafts||||(134)|(112)|
||||||866,557|711,828|
|20.|Creditors: amounts
falling||due within one year||||
||||||2023|2022|
|||||||5|
||Bank loans and overdrafts||||57,841|73,332|
||Trade creditors||||446,968|262,431|
||Accruals and deferred income||||92,335|246,885|
||Social security
and other taxes
Obligations
under finance leases and hire purchase
Other creditors|||contracts|88,961
10,810
3,109,014|88,929
13,994
1,719,692|
||||||3,805,929|2,405,263|
##
|Creditors:|amounts
falling due after more than o|ne year|||
|---|---|---|---|---|
||||2023|2022
f|
|Bank loans|and overdrafts||830,267|200,381|
|Obligations|under finance leases and hire purchase|contracts|14,657|27,115|
||||844,924|227,496|
##
##
##
##
##
##
|The total f
as follows:|utur|e
minimum
lease payments
under finance l|eases and hire purchase
co|ntracts
are|
|---|---|---|---|---|
||||2023|2022|
|||||f|
|Not later than||1 year|25,467|13,994|
|Later than|1 year and not later than 5years|||27,115|
||||25,467|41,109|
##
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##
##
##
##
##
|Analysis ofc|haritable
funds||||||
|---|---|---|---|---|---|---|
|Unrestricted|funds||||||
|||At||||At|
|||31 August 20||31August||20|
|||22
F|Income
f|Expenditure
f|f|23|
|General funds||4,940,113|4,766,944|(4,602,208)|5,104,849||
|||At||||At|
|||1 September|||30August|20|
|||2021
f|Income
F.|Expenditure
f|F|22|
|General funds||4,987,788|4,129,284|(4,176,959)|4,940,113||
|Restricted funds|||||||
|||At||||At|
|||31 August 20||31August||20|
|||22
f|Income
f|Expenditure
f|f|23|
|Car park||262,429||(12,561)|249,868||
|||At||||At|
|||1 September|||30August|20|
|||2021
F|Income
f|Expenditure
F|f|22|
|Car park||262,429|||262,429||
##
|||1|September|||30|August|20|
|---|---|---|---|---|---|---|---|---|
||||2022
f|Income
f|Expenditure
f||f|23|
|General|funds||162,430|12,000|(12,000)||162,430||
||||At|||||At|
|||1|September|||31|August|20|
||||2021
f|Income|Expenditure
f||f|22|
|General|funds||162,430|12,000|(12,000)||162,430||
##
##
##
##
##
##
##
|Analysis ofnet assets|between funds|||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total Funds||
|||Funds
F|Funds||2023
f|
|Tangible fixed assets
Fixed asset investments||7,381,849
3,905|249,868||7,631,717
3,905|
|Current assets||2,369,949|||2,369,949|
|Creditors less than
1 year
Creditors greater than
1 year||(3,805,929)
(844,924)||(3,805,929)
(844,924)||
|Net assets||5,104,850|249,868||5,354,718|
|||Unrestdicted|Restricted|Total Funds||
|||Funds|Funds||2022|
|||f|f|||
|Tangible fixed assets
Fixed asset investments||6,506,690
3,905|262,429||6,769,119
3,905|
|Current assets||1,062,277|||1,062,277|
|Creditors less than
1 year
Creditors greater than
1 year||(2,405,263)
(22 7,496)||(2,405,263)
(227,496)||
|Net assets||4,940,113|262,429||5,202,542|
|Analysis ofchanges|in net debt|||||
|||At|||At|
|||31 Aug 2022
f|Cash cows
f|31|Aug 2023
f|
|Cash at bank and
in hand||711,940|154,751||866,691|
|Bank overdralts||(112)|(22)||(134)|
|Debt due within one year
Debt due after one year||(87,214)
(227,496)|18,697
(617,428)||(68,517)
(844,924)|
|||397,118|(444,002)||(46,ee4)|
##