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||||Page|
|---|---|---|---|
|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|
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##
|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||||||||||||||||||||||||||||
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##
##
|||||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|Balance Sheet|||
|---|---|---|---|---|---|
|||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)|||