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||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|9|
|Report ofthe Independent
Auditors||10 to||12|
|Statement ofFinancial|Activities||13||
|Statement ofFinancial|Position||14||
|Statement ofCash Fiows|||||
|Notes tothe Statement|ofCash Flows||||
|Notes tothe Financial|Statements|17|to|28|
|Detailed Statement of|Financial Activities|29|to|30|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
|||Notes|fund
6|funds
6|funds
5|fundsf|
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies||2|297,406|30,831|328,237|224,147|
|Charitable
activities|||||||
|Income from theatre and centre|||14,154||14,154|278,570|
|Operation ofbar &cafe||||||68,215|
|Other income||||||7,680|
|Investment
income||3||||20,563|
|Other income|||17,101||17,101||
|Total|||328,661|30,831|359,492|599,175|
|EXPENDITURE ON|||||||
|Charitable
activities|||||||
|Income from theatre and centre|||293,997|61,652|355,649|564,505|
|Operation
ofbar &cafe|||907||907|50,417|
|Other|||7,550||7,550|6,300|
|Total|||302,454|61,652|364,106|621,222|
|NET INCOME/(EXPENDITURE)|||26,207|(30,821)|(4,614)|(22,047)|
|Transfem
between funds||19|(1,136)|1,136|||
|Net movement
in funds|||25,071|(29,685)|(4,614)|(22,047)|
|RECONCILIATION OF FUNDS|||||||
|Total funds brought forward|||3,276,561|179,035|3,455,596|3,477,643|
|TOTAL FUNDS CARRIED FORWARD|||3,301,632|149,350|3,450,982|3,455,596|
##
|||||2021|2020|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||fund|funds|funds|funds|
||Notes|5||2|5|
|FIXEDASSETS||||||
|Tangible assets|11|3,169,184|149,350|3,318,534|2,615,357|
|Investment
property|12||||766,900|
|||3,169,184|149,350|3,318,534|3,382,257|
|CURRENT ASSETS||||||
|Stocks|13|2,631||2,631|2,620|
|Debtors|14|43,580||43,580|49,990|
|Cash at bank and in hand||200,036||200,036|96,908|
|||246,247||248,247|149,618|
|CREDITORS||||||
|Amounts
falling due within one year|15|(67,966)||(67,966)|(75,175)|
|NET CURRENT ASSETS||178,281||178,281|74,343|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILmES||3,347,465|149,350|3,496,815|3,458,600|
|CREDITORS||||||
|Amounts
falling due after more than one year|18|(45,833)||(45,833)|(1,004)|
|NETASSETS||3,301,632|149,350|3,450,982|3,455,596|
|FUNDS||||||
|Unrestricted
funds||||3,301,632|3,276,561|
|Restricted funds||||149,350|179,035|
|TOTAL FUNDS||||3,450,982|3,465,696|
##
||||2021|2020|
|---|---|---|---|---|
|||Notes|6|F|
|Cash flows from operating|activities||||
|Cash generated
from operations||1|67,982|21,499|
|Interest paid|||(312)|(294)|
|Interest element of hire purchase|||||
|payments
paid|||(742)|(2,598)|
|Finance costs paid|||(3,302)|(6,958)|
|Net cash provided
by operating
activities|||63,626|11,851|
|Cash flows from investing|activities||||
|Purchase oftangible fixed assets
Sale oftangible fixed assets|||(7,499)
13|(12,938)|
|Net cash used in investing
activities|||(7,486)|(12,938)|
|Cash flows from financing|activities||||
|New loans in year|||50,000||
|Capital repayments
in year|||(3,012)|3,012|
|Net cash provided
by financing
activities|||46,988|3,012|
|Change
in cash and cash|equivalents||||
|in the reporting
period|||103,128|1,727|
|Cash and cash equivalents|atthe||||
|beginning
ofthe reporting|period||96,908||
|Cash and cash equivalents|atthe end||||
|ofthe reporting
period|||200,036|98,908|
||ACTIVITIES||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||Net expenditure
for|the reporting|||period (as per|the Statement|||
||ofFinancial Activities)||||||(4,614)|(22,047)|
||Adjustments
for:||||||||
||Depreciation
charges||||||71,209|54,451|
||Interest paid||||||312|294|
||Interest element of hire||purchase and finance lease rental payments||||742|2,598|
||Finance costs||||||3,302|6,958|
||(Increase)/decrease|in stocks|||||(11)|2,236|
||Decrease/(increase)|in|debtors||||6,410|(21,425)|
||Decrease
in creditors||||||(9,368)|(1,564)|
||Net cash provided
by||operations||||67,982|21,499|
|2.|ANALYSIS OF CHANGES|||IN NET|FUNDS||||
|||||||At 1.4.20
6|Cash gow|At 31.3.21
f|
||Net cash||||||||
||Cash at bank and
in hand|||||96,908|103,128|200,036|
||||||||103,128|200,036|
||Debt||||||||
||Finance leases|||||(3,012)|3,012||
||Debts falling due within
1 year
Debts falling due alter 1 year||||||(4,167)
(45,833)|(4,167)
(45,833)|
|||||||(3,012)|(46,988)|(50,000)|
||Total|||||93,896|56,140|150,036|
##
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##
|3.|INVESTMENT fNCOME||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E|6|
||Investment
income|||||20,563|
|4.|INCOME FROM CHARITABLE||ACTIVITIES||||
||||||2021|2020|
|||Activity|||E|E|
||Income from theatre &||||||
||centre|Income from theatre and centre|||8,701|278,570|
||Other income|Income from theatre and centre|||5,453||
||Operation ofbar &cafe|Operation||ofbar &cafe||68,215|
||Other income|Other income||||7,680|
||||||14,154|354,465|
|5.|CHARITABLE ACTIVITIES|COSTS|||||
|||||||Direct|
|||||||Costs|
|||||||6|
||Income from theatre and centre|||||355,649|
||Operation ofbar &cafe|||||907|
|6.|SUPPORT COSTS||||||
|||||||Governance|
|||||||cos'ts|
|||||||8|
||Other resources expended|||||7,550|
|7.|AUDITORS' REMUNERATION||||||
||||||2021|2020|
|||||||E|
||Fees payabie to the charity's|auditors forthe audit ofthe charity's|||||
||financial statements||||7,550|6,300|
||TRUSTEES' REMUNERATION||AND BENEFITS||||
##
##
|STAFFCOSTS|STAFFCOSTS|||||
|---|---|---|---|---|---|
|||||2021|2020|
|Wages and salaries||||144,930|200,601|
|Social security costs||||6,588|10,692|
|Other pension costs||||2,406|3,885|
|||||153,924|215,178|
|The average|monthly|number ofemployees|during the year was as follows:|||
|||||2021|2020|
|Management|&Administration|||8|8|
|Bar8other||||2|9|
|||||10|17|
##
##
##
|Key management
personnel
include
afi persons
that
have
authority
and
directing
and controlling
the activities
of the charity. The total compensation
personnel
for services provided tothe charity was 647,321 (2020649,579).|Key management
personnel
include
afi persons
that
have
authority
and
directing
and controlling
the activities
of the charity. The total compensation
personnel
for services provided tothe charity was 647,321 (2020649,579).|Key management
personnel
include
afi persons
that
have
authority
and
directing
and controlling
the activities
of the charity. The total compensation
personnel
for services provided tothe charity was 647,321 (2020649,579).|responsibility
paid to key|for
planning
management|
|---|---|---|---|---|
|COMPARATWES FOR THE STATEMENT OF FINANCIAL ACThrlTIES|||||
|||Unrestricted|Restricted|Total|
|||fund|funds|funds|
|||5||6|
|INCOME|AND ENDOWNIENTS|FROM|||
|Donations|and legacies|161,574|62,573|224,147|
|Charitable|activities||||
|Income from theatre and centre
Operation ofbar8cafe||278,570
68,215||278,570
68,215|
|Other income||7,680||7,880|
|Investment|income|20,563||20,563|
|Total||536,602|62,573|599,175|
##
|10.|COMPARATIVES FOR THE STATEMENT|COMPARATIVES FOR THE STATEMENT|OF FINANCIAL|ACTIVITIES -|continued||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
|||||fund|funds|funds|
|||||8|8||
||Charitable
activities||||||
||Income from theatre|and centre||495,998|68,507|584,505|
||Operation
ofbar &cafe|||50,417||50,417|
||Other|||6,300||6,300|
||Total|||552,715|68,507|621,222|
||NET INCOMEI(EXPENDITURE)|||(16,113)|(5,934)|(22,047)|
||Transfers between|funds||2,307|(2,307)||
||Net movement
in funda|||(13,806)|(8,241)|(22,047)|
||RECONCILIATION|OF FUNDS|||||
||Total funds brought forward|||3,290,367|187,276|3,477,643|
||TOTAL FUNDS CARRIED FORWARD|||3,276,561|179,035|3,455,598|
||TANGIBLE FIXEDASSETS||||||
||||||Fixtures||
||||Freehold|Plant and|and||
||||properly|machinery|fittings|Totals|
||||8|8|6|8|
||COST||||||
||At 1 April 2020||2,661,520|199,722|4,448|2,865,690|
||Additions|||4,019|3,480|7,499|
||Disposals|||(14)||(14)|
||Reclassification||766,900|||766,900|
||At 31 March 2021||3,426,420|203,727|7,928|3,640,075|
||DEPRECIATION||||||
||At 1 April 2020||108,726|138,62'I|2,986|250,333|
||Charge for year||36,818|31,202|1,189|71,209|
||Eliminated
on disposal|||(1)||(1)|
||At 31 March 2021||147,544|169,822|4,175|321,541|
||NET BOOKVALUE||||||
||At 31 March 2021||3,280,876|33,905|3,753|3,318,534|
||At 31 March 2020||2,552,794|61,101|1,462|2,815,357|
##
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##
|12.|INVESTMENT PROPERTY|||
|---|---|---|---|
||FAIR VALUE|||
||At 1 April 2020||766,900|
||ReclasstTication||(766,900)|
||At 31 March 2021|||
||NET BOOKVALUE|||
||At 31March 2021|||
||At 31 March 2020|||
|13.|STOCKS|||
|||2021|2020|
||Stocks|2,631|2,620|
|14.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|||
|||2021|2020|
||||6|
||Trade debtors
Other debtors
VAT
Prepayments|18,636
4,169
20,775|37,808
4,218
2,627
5,337|
|||43,580|49,990|
##
|16.|CREDITORS:|AMOUNTS||FALLING DUE WITHIN ONE YEAR|FALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||||F|6|
||Bank loans and overdrafts|||(see note 17)||4,167||
||Hire purchase|(see note 18)|||||2,008|
||Trade creditors|||||7,369|33,906|
||Taxation and social security|||||1,846|2,745|
||Other creditors|||||54,584|36,516|
|||||||67,966|75,175|
|16.|CREDITORS:|AMOUNTS|FALLING DUE AFTER MORE THAN ONE YEAR|||||
|||||||2021|2020|
|||||||6||
||Bank loans (see note 17)|||||45,833||
||Hire purchase|(see note 18)|||||1,004|
|||||||45,833|1,004|
|17.|LOANS|||||||
||An analysis ofthe maturity||cf||loans is given below:|||
|||||||2021|2020|
|||||||E||
||Amounts
falling|due within|one year on demand:|||||
||Bankloans|||||4,167||
||Amounts
falling|between one|||and two years:|||
||Bank loans - 1-2years|||||5,000||
||Amounts
falling|due between|||two and five years:|||
||Bank loans - 2-5years|||||15,000||
||Amounts
falling|due in more||than five years:||||
||Repayable
by instalmentsi|||||||
||Bank loans more 5yr by instal|||||25,833||
|18.|LEASING AGREEMENTS|||||||
||Minimum
lease|payments|fall||due as follows:|||
|||||||Hire purchase|contracts|
|||||||2021|2020|
|||||||6|f|
||Net obligations|repayable:||||||
||Within one year||||||2,008|
||Between one and five years||||||1,004|
||||||||3,012|
##
|LEASING AGREEMENTS - continued|||
|---|---|---|
||Non-cancellable||
||operating|leases|
||2021|2020|
||6||
|Within one year|1,198|1,634|
|Between one and five years|1,598|2,796|
||2,796||
##
##
##
|NIOVEMENT IN FU|NDS|||||
|---|---|---|---|---|---|
||||Net|Transfers||
||||movement|between|At|
|||At 1.4.20|in funds|funds|31.3.21
f|
|Unrestricted
funds||||||
|General fund||3,276,561|26,207|(1,136)|3,301,632|
|Restricted funds||||||
|Arts Council ofWales||34,987|(18,378)||18,589|
|Vale ofGlamorgan|Council|11,905|(7,142)||4,763|
|Barry Tawn Council||58,550|(1,225)||55,325|
|Bany Tawn Council||72,613|(1,940)||70,673|
|Vale Stronger Communities||3,000|(4,136)|1,136||
|||179,035|(30,821)|1,136|149,350|
|TOTAL FUNDS||3,455,596|(4,614)||3,450,982|
|Net movement
in funds, included||in the above are as follows:||||
||||Incoming|Resources|Movement|
||||resources|expended|in funds|
||||8|||
|Unrestricted
funds||||||
|General fund|||328,661|(302,454)|28,207|
|Restricted funds||||||
|Arts Council ofWales
Vale ofGlamorgan
Council|||8,031|(24,409)
(7,142)|(16,378)
(7,142)|
|Bany Town Council||||(1,225)|(1,225)|
|Bany Town Council
Vale Stronger Communities|||22,800|(24,740)
(4,136)|(1,940)
(4,136)|
||||30,831|(61,652)|(30,821)|
|TOTAL FUNDS|||359,492|(364,106)|(4,814)|
##
##
|Comparatives
for||moveme|nt
in funds|||||
|---|---|---|---|---|---|---|---|
||||||Net|Transfers||
||||||movement|between|At|
|||||At 1.4.19|in funds|funds|31.3.20|
|||||||6|8|
|Unrestricted
funds||||||||
|General fund||||3,290,367|(16,113)|2,307|3,276,561|
|Restricted funds||||||||
|Arts Council ofWales
Vale cfGlamorgan
Council||||51,345
19,047|(16,378)
(7,142)||34,967
11,905|
|Barry Town Council||||57,775|(1,225)||56,550|
|Barry Town Council||||55,322|17,291||72,613|
|Ffilm Cymru||||3,787|(3,787)|||
|Vale Stronger Communities|||||5.307|(2,307)||
|||||187,276|(5,934)|(2,307)|179,035|
|TOTAL FUNDS||||3,477,643|(22,047)||3,455,596|
|Comparative
net movement|||in funds, included|in the above am as follows:||||
||||||Incoming|Resources|Movement|
||||||resources|expended|in funds|
||||||8|||
|Unrestricted
funds||||||||
|General fund|||||536,602|(552,715)|(16,113)|
|Restricted funds||||||||
|Arts Council ofWales
Vale ofGlamorgan
Council||||||(16,378)
(7,142)|(16,378)
(7,142)|
|Barry Town Council||||||(1,225)|(1,225)|
|Chapter Cardiff Film||Hub|||10,436|(10,436)||
|Barry Tawn Council|||||18,600|(1,309)|17,291|
|Ffilm Cymru|||||3,786|(7,573)|(3,787)|
|Ffilm Hub Midlands|||||4,000|(4,000)||
|Surf the Wave|||||2,267|(2,267)||
|Vale Stronger Communities|||||23,484|(18,177)|5,307|
||||||62,573|(68,507)|(5,934)|
|TOTAL FUNDS|||||599,175|(621,222)|(22,047)|
##
|A current yea|r 12m|onths and prior|year 12months combine|d
position isas|follows:||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.4.19
5|in funds
f|funds|31.3.21
F|
|Unrestricted|funds||||||
|General fund|||3,290,367|10,094|1,171|3,301,632|
|Restricted funds|||||||
|Arts Council|ofWales||51,345|(32,756)||18,589|
|Vale ofGlamorgan||Council|19,047|(14,284)||4,763|
|Barry Town Council|||57,775|(2,450)||55,325|
|Barry Town Council|||55,322|15,351||70,673|
|Ffilm Cymru|||3,787|(3,787)|||
|Vale Qronger|Communities|||1,171|(1,171)||
||||187,276|(36,755)|(1,171)|149,350|
|TOTAL FUNDS|||3,477,643|(26,661)||3,450,982|
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
||||5||
|Unrestricted
funds|||||
|General fund||865,263|(855,169)|10,094|
|Restricted funds|||||
|Arts Council ofWales
Vale ofGlamorgan
Council||8,031|(40,787)
(14,284)|(32,756)
(14,284)|
|Barry Town Council
Chapter Cardiff Film Hub||10,436|(2,450)
(10,436)|(2,450)|
|Bany Town Council||41,400|(26,049)|15,351|
|Ffilm Cymru
Ffilm Hub Midlands
Surf the Wave
Vale Stronger Communities||3,786
4,000
2,267
23,484|(7,573)
(4,000)
(2,267)
(22,313)|(3,787)
1,171|
|||93,404|(130,159)|(36,755)|
|TOTAL FUNDS||958,667|(985,328)|(26,661)|
##
##
##
##