2021-10-31-accounts - Run 4 Wales Charitable Foundation

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Rcport uf tlsc 'I'rustccs			I lo 3
Report uf tlse Iadcpeodcat	Auditors		etoG
Cansoli&latcd Stateaieut ofIrinancial		Activities
Cones ada ted Balance Shcct
Charity Balance Sheet
Cunsolidnted Cash Floss Stalcmcnt			10
Notes tu thc Consolidated	Casts I low Statement
Notes to tltc Consolidated	Financial	Statcntcnts	12tu 18

STRUCTURE, GOVERNANCE	AND	JVIANAGEIVIENT	JVIANAGEIVIENT	JVIANAGEIVIENT
Rccrui(&no&i( nit&I appuiatment ol ncw		Irustecs
Trusiees arc nppointed or teappointed annually				a( Ihe rinmml	(Jcneral tvlee(ing.
Every (rus(ee must bc nppoin(rd	I'or a	term	of three years		by»		resolution passed						a(	a properly				convened		meeting			of'	Ihe chaii(y
1&'&lstecs.
Welsh Athletics may appoint up to	two chariiy			(ioslees.
Orgauisational stmirture
'fhc Board has oversB responsibility	for	tlie governance ofthe Chaiity.						It meets			ai least			(wtce pcr yem. The Bow&I delegates												mitlmiiD
to the Chief Executive ivho leads	the day-to-dsy management					of the Charily,					working			witliiri		the		linancial		framcivnrk,				pmcedures
an&I policies se( doivn by the Bowd. The		Chief		Executive Ims delegaled				authority				for	human		resource planning,						einployrnent,					service
dcvelopmerit and linmice.
Rale(cd parties
None ofthe trustees n ceivc mmuneration or scaior manager ofthe chmily and n supplier			nny oilier benefit (iam Iheir work with thc clwrity. Any connection bet&veen must be disclosed to thc ii&0 board oftrustees in the sor&ie way cs nny other																					a trustee ur con(raclusl
relntionship with a related par(y. In	the curn:nt			yenr no such	related		painy		trnnsac(iona				were repo&(ed.
The charity's wholly oivned subsidiary,		Run	4	Wales Limi(cd, is			a not-for-proiit					nicking urge&isation							which	wits		sei	up	lo		promote
mnjor sporting events in Wales.
Risk management
Tfie syshniis and internal controls	established			by the Board	are	designed				lo provide			reasonable,				bu( not absohuc,					assurance				against
niaterial misstatement or loss, Trustees		and	senior stnff carry			ou( the		tisk asscmment,						including				the	writing		and	review				of a	risk
register in ordler lo confirm tlmt the ainjor risks, to whicli					Ihc	Clhari(y			is	exp&wed, have been n:viewed and										systenis			es(ablislied				tu
niitigate Ihose risks. Thc Bonrds has iden(ilied				ttic Ibgoiving	key	risk areas:
.Governance
- Financial
- Compliance with Laws 0& Regulations
Tbe Chmity as a sliuid alone entity is		reliant		on I'unding	liom		its mibsidiary					Run	4	Wales I,imiled.					Run	4	Wales		l.imiteil,				snd
thciefom Ihe gmup, are reliant on	(he events			timt arc oigaaised			through			thc mibsidiary				being		able to			proceed.		I'iior		to	Covid,			ttic
Trnstees were already looking at boiv the group could mitigate						tbe risk		of&educ(iona					lo income,				by investigating				income			ger&crating
oppo&tunitics. Post Covid, the Tiustcc&		believe Ihat this is			even		more	impoi(ant				and this			will	be		built	into	their		cunen(			review		of
I'uimc activities.
REFERENCE AIVD AD& &I IN ISTRATIVE DFTAILS
Rcgistercd Charity nambcr
I If)0212
Principal address
Pod I
Capital Retail Park
Leckwith Road
Cwdiff
Cr» SFG

				for the Y	ear Ended 31October 2	021
						31.10.21	31.1020
						Unrestricted	Total
				Notes		futulf	funds 6
INCOME AND ENDOWMENTS			FROM
Chnrits hie activities
Other trnding sctivilies Othe' Income						717,510 ~500 129	42,292 ~633678
Tutal						1,217,639	675,970
EXPENDITURE ON
Raising, funds						1,161,129	831,455
Chsdtshlc activities
Running BcAthletics						74,487	55,017
Tnta1						1,235,6 IG	BBG,472
NET INCOME/(EXPENDITURE)						(17,977)	(210,502)
RECONCILIATION	OF	FUNDS
Tutal I'unde hrougltt	fomvnr&l					36,208	246,710
TOTAL FUNDS CARRIED I'ORWARD						18,231	~36208
CONTRVUUVG OPERATIONS
All income snd expenditure		has arisen from		continuing	activities.

		Consolidated
		3( October 2021
			31.10.21	31.10.20
			Unrestricted	Total
			fund	funds
		Noise	f,	6
I&IXL'D ASSETS
Tangible assets Investmcnls		11 12	13,062 4,544	20,453 ~4544
			17,606	24,997
CURRENT ASSETS
Debtors		13	219,079	685,749
Cash at bank			~2336498	~2024 798
			2,555,577	2,710,547
CRKDITOIIS
Amour&ts falling due within	orre year		(2,554,952)	(2,699,336)
&NET CIJRRENT ASSETS			625	11211
TOTAI. ASSETS LESSCURRENT		I.IABILITIES	18,231	3(i,708
NKT ASSETS/(LIABII,ITIES)			18231	~36 208
TUNDS		15
Unresiricted funds			~18231	36,208
TOTAL I'UNDS

				Charity Balsuice Sheet
				31October 2021
						31.10.21	31.1(1.20
						Llnrestricted	Total
						fund	funds
				Noies		K	6
PIXED ASSETS
Tangible nssets				12		13,062	20,453
						13,062	20,453
CURRCNTASSrTS
Debtors						21,370	10,387
Cash st bank						I 419	176
						22,789	10,563
CREDITORS
Anicunts falliag	due within		oiie year	15		(8,913)	(701)
NET CURRENT ASSETS						~13876	9,862
TOTAL ASSETSLESSCURRENT				LIAR(I.ITIES		26,9311	30,315
NET ASSETS						~26 938	30,315
PONDS Unrestricted funds						~26938	~30 315
TOTALI'UNDS						~26 938	30,315
The financial statements		were npproved		by tire Board ofTrustees and authorised	for issue on
7 ,,3 .....,......j..... .2....eZ			and were	signed on its behalfby:
N BR rts-	restee

				Consoli&iale&l Cash	9'lovv Statement
				for thc Year Raded	31 October2021
					31.10.21	31.10,20
				Notes	K
Cash ilo&vs 0on& opcrstiag activities
Cash generated fiom	opera&irma				318425	580,120
Nct cash p& ovided by	operating activities				~318425	~580 120
Cash llo&vs from investing Purchase oftangible tlxed		activities assets			~6725)
Net cash used in investing		activities			(6,725)	~1076)
Change in cash and	cash	equivalents	in tbe
reporting perlud					311,700	579,044
Cash and cash eqaivalents		nt thc beginning		of
the reporting pcriud					~2024 798	~1445,75'I
Cash and cash cqaivalcnls		at the end	ofthc
reporting period					~2336498	2.024798

	Notes to the Conso for lite Year	Notes to the Conso for lite Year	Notes to the Conso for lite Year	Notes to the Conso for lite Year	lidated Cash Flaw Stntemcnt Ended 31 October 2021	lidated Cash Flaw Stntemcnt Ended 31 October 2021	lidated Cash Flaw Stntemcnt Ended 31 October 2021
	RECONCILIATION OF NL'T EXPENDITURE				TO NET CASH IrLO'IV FROGI OPERATING ACTIVITIES 31.1021 31.1020
						f
	Nct cspcuditurc Activities)	for tire rcportiag		period (ns per	tbc Statement ofFinancial	(17,977)	(210,502)
	Adjnstmcais fsr: Depreciation charges Decrease/(inmeasc) m debtors (Decrcme)/incmase ia cn:diiors					14,116 466,G72 ~144 386)	12,435 (209,35G) ~987 543
	Net esslr previdcd		by operations			~318428	580,120
2.	ANAI.YSISOF	CHANGES IN NET FUNDS
					Al 1.11,20	Cash flow	Ai 31.10.21
					8	f.
	Net caslr Cash at bank				~2024 798	~311700	~2336 198
					~2024 798	~311700	~2,336498
	Totnl				2 024 798	~3II 700	~2,336 198

TR	DINGACTIVITIES
OTHER		31.10.21	3(.10.20
			8
Other trading Other income	operations	532,357 185,153	34,88&i 7,406
		717,510	~42 292

		31.10.21	31.1020
		8
Turnover		653,358	42,290
Sundry ieceipis Government grants Coal et'sales and administration	costs	564,283 633,678 ~1158583)~873 565)
Net Profit		59,058	(197,597)
Amount Gilt Aided to the charily		(71,110)
Taxation		~2546)~42 110
Retained in the nibsidiaiy		~14,598)~(155 187)
INCOME FROM CIIARITABLE ACTIVITIES		31,10.21	3t.10.20
		Other Income	Other Income
		8
Governmcnr gnmts —Cultural Recovery I'unil Government grunts —Economic Resilience I'unit Other		341,712 158,417	488,898 37,500 107,2110

					Run 4 Wales	Run 4 Wales	Run 4 Wales	Charitable	Foundation	Foundation	Foundation
					Notes to the Consoli&lnted			Pinancinl	Statemeats - contim&c&l
							for the Year	Ended 31 October		2021
	RAISING PONDS
	Raisiag	dnnstiuas		aad Icgacics
											31.1021		31.1020
													f
	Raising	limds									~1.161 129		831,455
5.	CHARITABLE ACFIVITIKS COSTS
													Support
													costs (see
													note 6)
													f.
	Running	6&	Athletics										71,487
6.	SUPPORT		COSTS
											Governance
								Management		Finance	costs		Totnls
										f.	f,		f.
	Running	tk Athletics						~66 726		~lgg I	2 880		~74 487
	Suppon	costs, included			in the	abave,	s&e ss followu
											31.1021		31.10.20
											Running	dk	Total
											Athletics		activities
											f		f
	Oepreciatinn		oftangible		and	bc&i tage	assets				14,116		12,435
	Rates and water Bank charges										4,227 186		4,227 128
	Other enate										468		250
	Rent										52,1&10		36,537
	Accnunlancy		and legal		fees						2,880		1,440
											74,487		55,017

	STAFir COSTS —continue&i	STAFir COSTS —continue&i	STAFir COSTS —continue&i
	The average monthly number ofemployees			duriag	the year wss as follows:
						31.1021	31.10.20
	Administration					ll	Il
	Support					4	4
						15	15
9.	STA9'F COSTS
	'fhe charity bad no ernployces for the current or preceding year.
10.	COMI'ARATIVES PORTHE STA'fFMENT				OF FINANCIAL ACTIYITIL'S
							Um estrictmt
							fund
	INCONIE AND ENDOWMENTS		FROM
	Clraritsble activities Running dr Athletics						633,678
	Other tmding activities						12,292
	Total						675,970
	EXPENDITURF. ON Raising funds						831,455
	Chsritnble activities Pmnning k Athletics						55,017
	Total						886,472
	NET INCOME/(EXPENDITURE)						(210,502)
	RECONCILIATION	OF FUNDS
	Total funds brcuglrt	1'emvsrd					246,710
	TOTAL FUNDS CARRIL'D FOIIWARD						36,208

			for the Year	End	ed 31 Octoher	2	021
II,	TANGIBI EFIXED ASSETS
							Irixtures
							attd	Computer
							fitlings	equipment f	Totals 8
	COST
	At I November 2020 Additions						35,477	22,714 ~725	51!,191 tr 725
	At 31 October 2021						~35 477	~29439	64,916
	DEPRECIATION
	At I November 2020						25,518	12,220	37,738
	Charge Ior year						7,095	~7021	14,116
	At 31 October 2021						~32613	19,241	51,854
	NET BOOI& VAI.UE
	At 31 October 2021						2,864	~10 198	~I3 062
	At 31Octobn' 2020						9,959	~10494	~20 153
	The nbove tangible fixed	assets represent thuse balances			held by the Charity		and the Gtuup.
12.	FIXED ASSET INVESTIvlLrNTS
									Unlisted
									trtvcsttttclttc
									8
	MARI&ET VAI,UE
	At I November 2020 and	31 October	2021						4,544
	iNE'f BOOI& VALUE
	At 31 October 2021								4,544
	At 31 October 2020								~4544
	There vvere no investment	assets outside the Ul&.
	The lixed msm investment	tepresent	those balances	held	by the subsidinry	and tire group.
13,	DEBTORS: AhIOUNTS	I'AI.LBqG DUF. WITIIIN ONE YEAR
								31.10.21	31.10,20
	'I'rade debtors							143,323	157,857
	VAT							5,482
	Prcpayntents and accrued	income						70,274	~527 892
								~219079	685,749
	Charity
								31.1021	31.1020
								f.	f
	Other debtors							21370	10387

CREDI'fORS:	AMOUNTS I'	ALLINC DUE WITIIIN ONE YEAR
			31.10.21		31.10.20
			E
Trade creditors			319,112		159,744
Taxation and social security			15,091		14,732
Other oreditors			~2220	749	2,5M,860
			~2.554	952	2,699,336
Clrarity
			31.10.21		31.10.20
				E
Other cmditors				8913	701
Sulu&ted within	other medilors	is an amount ofE2,063,095 (2020:E2,444,850) representing	mconse	for deferred	eventu

MOVEM	ENT	IN FUNDS
						Net
					At	movement	At
					1.11.20	in funds	31.10.21
						E
Unrestricted		funds
General	fund				36,208	(17,977)	18,231
TOT'AL	FUNDS				36 08	~17977)	18,231
Net movement		in tltnds, included		in the above are as follows:
					Incoming	Resources	Movement
					msources	expended	in funds
					E	E	E
Unmstrictcd		fends
General	1'und				1,217,639	(1,235,616)	(17,977)
rOTAi.	FUNDS				~1211639	~1235,616)	~17,977)
Cemparativcs		for movmneat	in	funds
						Net
					Al	movement	At
					1.11.19	in funds	31,10.20
							E.
Unrcstrietcd		fuads
General	lund				246,'710	(210,502)	36,208
'ro'TAL	FUNDS				~246 710	~10502)	36208

						1llColrllng	Resources	Resources	Movement	Movement	Movement
						resources f	expended 6		Ill	fit tide
Unrestricted		funds
Genernllund						675,970	(886,472)		(210,502)
TOTAL FUNDS						~675 970	~886,472)			10502
Movements	i~ fends (Clmrity)
							Net movement	in
						At 1,11.20	funds		At 31.10.21
						f			f
Unrestricted		fends
General fund						30,315	(3,377)		26,938
TOTALirUNDS
Net movement		in funds,	included		in rim above are ss followu
						incoming	Itesourccs		Movcfl)cni		ln
						retool'ccs	expended			funds
							f
Unrestricted		funds
General fund						71,110	(74,487)			(3,3»)
Conrpnratives		for movemcnts		in	funds (Charity)
							Net movement	in
						At 1.11.19	funds		At 31.10.20
						f	f		f
Unrestricted		funds
General lund						85,332	(55,017)			30,315
TOTAL ISUNDS
Nel movement		in gtnds,	included		in Ihe above mu as follows:
						Incoming	Resources		Movemenl		in
						Iesoorccs	expended f.		f	Iimds
Unrestricted		funds
General fund							(55,017)		(55,017)