2021-03-31-accounts

			Page
Reference and Administrative		Details
Trustees' Report			3 —11
Independent Auditors'	Report	on the Financial Statements	12-15
Statement of Financial	Activities		16
Balance Sheet			17 - 18
Statement ofCash Flows			19
Notes to the Financial	Statements		20-38

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2021	2021	2021	2020
		Note	f	f	f	f
Income from:
Charitable activities			3,442,443	1,954,934	5,397,377	6,392,787
Investments						1,839
Total income			3,442,443	1,954,934	5,397,377	6,394,626
Expenditure on:
Charitable activities			3,952,954	2,167,847	6,120,801	7,205,898
Total expenditure			3,952,954	2,167,847	6,120,801	7,205,898
Net outgoing resources			(510,511)	(212,913)	(723,4241	(811,272)
Other recognised losses:
Actuarial losses on	defined benefit pension
schemes		21	(2,010,000)	-	(2,010,000)	(250,000)
Net movement in funds			(2,520,5111	(212,913)	(2,733,424)	(1,061,272)
Reconciliation offunds:
Total funds brought	forward	16	(4,103,417)	295,900	(3,807,517)	(2,746,245)
Total funds carried	forward	16	(6,623,928)	82,987	(6,540,941)	(3,807,517)

				2021	2020
				E	E
Cash flows from operating	activities
Net cash generated from/(used in) operating		activities	17	271,757	(50,281)
Cash flows from investing	activities
Dividends, interests and rents from investments					1,839
Proceeds from the sale of	tangible fixed assets			150,000
Purchase oftangible fixed	assets				(363,618)
Net cash used in investing	activities			150,000	(361,779)
Change in cash and cash equivalents in the year				421,757	(412,060)
Cash and cash equivalents	at the beginning	ofthe year	18	464,908	876,968
Cash and cash equivalents	at the end ofthe year		18	886,665	464,908

Income from	charita	ble activities
			Unrestricted	Restricted
			funds	funds	Total funds
			2021	2021	2021
			E	E	f
Leisure and	culturalactivities		466,418		466,418
Management	fees		1,436,025		1,436,025
Grants received			1,540,000	1,954,934	3,494,934
Total 2021			3,442,443	1,954,934	5,397,377
			Unrestricted	Restricted
			funds	funds	Total funds
			2020	2020	2020
			f	E	f
Leisure and	cultural	activities	4,452,259		4,452,259
Management	fees		1,592,883		1,592,883
Grants received				347,645	347,645
Total 2020			6,045,142	347,645	6,392,787

					Unrestricted	Total
					funds	funds
					2021	2021
					6	E
	Interest	receivable
					Unrestricted	Tota I
					funds	funds
					2020	2020
					f	E
	Interest	receivable			1,839	1,839
6.	Analysis	ofexpenditure	on charitable	activities

				Unrestdcted	Restricted	Total
				funds	funds	funds
				2021	2021	2021
				E	E	E
Leisure	and	cultural	activities	3,952,954	2,167,847	6,120,801
				Unrestricted	Restricted	Total
				funds	funds	funds
				2020	2020	2020
				f	E	E
Leisure	and	cultural	activities	7,154,153	51,745	7,205,898

				Activities
				undertaken	Governance	Total
				directly	costs	funds
				2021	2021	2021
				f	f	f
Leisure	and	cultural	activities	6,102,112	18,689	6,120,801
				Activities
				undertaken	Governance	Total
				directly	costs	funds
				2020	2020	2020
				f	f	f
Leisure	and	cultural	activities	7,190,814	15,084	7,205,898
Analysis	of	direct costs

	Total	Total
	funds	funds
	2021	2020
	f	f
Pension finance costs	100,000	80,000
Staff costs	4,278,681	4,529,744
Depreciation	347,812	279,230
Premises costs	860,585	1,099,992
Transport costs	10,692	15,049
Supplies and services costs	336,582	916,466
Support services costs	186,449	270,333
	6,120,801	7,190,814

Staff costs
							2021	2020
							f	f
Wages and	salaries						3,351,055	3,278,639
Social security costs							201,001	194,480
Contribution to defined contribution			pension schemes				36,625	36,625
Operating	costs ofdefined	benefit pension		schemes			690,000	1,020,000
							4,278,6&1	4,529,744
The average number ofpersons employed				by the company	during the year was as follows:
							2021	2020
							No.	No.
Administration							23	24
Leisure							248	264
							271	288
The number ofemployees		whose employee		benefits (excluding		employer	pension costs) exceeded
f60,000was:
							2021	2020
							No.	No.
In the band	f80,001-f90,	000					1	1

11.	Tangible fixed	assets
			Long-term
			leasehold	Plant and
			property f	machinery	Total f
	Cost
	At 1April 2020		142,549	1,094,909	1,237,458
	Additions
	Disposals			(643,349)	(643,349)
	At 31March 2021		142,549	451,560	594,109
	Depreciation
	At 1April 2020		87,016	544,922	631,938
	Charge for the	year	39,084	308,728	347,812
	Disposals			(493,346)	(493,346)
	At 31March 2021		126,100	360,304	486,404
	Net book value
	At 31March 2021		16,449	91,256	107,705
	At 31March 2020		55,533	549,987	605,520
12.	Stocks
				2021	2021
				f	f
	Finished goods and goods for resale			25,862	25,101
13.	Debtors
				2021	2020
				f	f
	Due within one year
	Trade debtors			58,279	30,405
	Prepayments	and accrued income		325,025	258,547
				383,304	288,952

			2021	2020
			f	f
Trade creditors			80,073	145,146
Other taxation	and social security		148,822	103,393
Other creditors			13,676	43,415
Accruals and deferred		income	681,906	420,044
			924,477	711,998

			2021	2020
			f	f
Balance	brought	forward	67,878
Income	received	in the year	500,187	4,520,137
Released	to income		(466,418)	(4,452,259)
Balance	carried	forward	101,647	67,878

							Balance at
			Balance at 1			Gains/	31March
			April 2020	Income	Expenditure f	(Losses) f	2021 f
Unrestricted funds:
General Fund			376,583	3,442,443	(3,422,954)		396,072
Pension reserve			(4,480,000)		(530,000)	(2,010,000)	(7,020,000)
Total Unrestricted		funds	(4,103,417)	3,442,443	(3,952,954)	(2,010,000)	(6,623,928)
Restricted funds:
Arts Council ofWales				186,535	(186,535)
3G pitches (note 20)			295,900		(212,913)		82,987
Sports Resilience	Fund			38,000	(38,000)
Welsh Government		Over 60's grant		49,972	(49,972)
HMRC Coronavirus		Job Retention
Scheme				1,680,427	(1,680,427)
Total Restricted funds			295,900	1,954,934	(2,167,847)		82,987
Total funds			(3,807,517)	5,397,377	(6,120,801)	(2,010,000)	(6,540,941)

							Balance at
				Balance at 1		Gains/	31March
				April 2019	Income Expenditure	(Losses)	2020
				f	f f	f	f
Unrestricted		funds
General	Fund			643,755	6,046,981 (6,314,153)		376,583
Pension	reserve			(3,390,000)	- (840,000)	(250,000)	(4,480,000)
				(2,746,245)	6,046,981 (7,154,153)	(250,000)	(4,103,417)
Restricted funds
3G Pitches (note 20)					347,645 (51,745)		295,900
Total of	funds			(2,746,245)	6,394,626 (7,205,898)	(250,000)	(3,807,517)
Analysis	ofnet assets between funds
Current	period
					Unrestricted Restricted		Total
					funds	funds	funds
					2021	2021	2021
					f	f	f
Tangible	fixed		assets		24,718	82,987	107,705
Current	assets				1,295,831		1,295,831
Creditors due			within one year		(924,477)		(924,477)
Defined	benefit pension scheme				(7,020,000)		(7,020,000)
Total					(6,623,928)	82,987	(6,540,941)
Prior period
					Unrestricted Restricted		Tota I
					funds	funds	funds
					2020	2020	2020
					f	f	f
Tangible	fixed		assets		309,620	295,900	605,520
Current assets					778,961		778,961
Creditors	due		within one year		(711,998)		(711,998)
Provisions for			liabilities and charges		(4,480,000)		(4,480,000)
Total					(4,103,417)	295,900	(3,807,517)

17.	Reconciliation of net	moveme	nt in funds	to net cash flow fr	om operatin	g activities
						2021	2020
						f	f
	Net expenditure for the period (as per Statement of Financial
	Activities)					(723,424)	(811,272)
	Adjustments for:
	Depreciation charges					347,812	279,230
	Dividends, interests	and rents	from investments				(1,839)
	(Increase)/decrease	in stocks				(761)	12,612
	(Increase) in debtors					(94,352)	(102,635)
	Increase/(decrease)	in creditors				212,482	(266,377)
	Pension cost less contributions					530,000	840,000
	Net cash (used in)/provided		by operating	activities		271,757	(50,281)
18.	Analysis ofcash and	cash equivalents
						2021	2020
						f	f
	Cash in hand					4,250	4,306
	Notice deposits (less than 3 months)					882,415	460,602
	Total cash and cash	equivalents				886,665	464,908
19.	Analysis ofchanges	in net debt
					At 1April		At 31March
					2020	Cash flows	2021
					f	f	f
	Cash and cash equivalents				464,908	421,757	886,665
					464,908	421,757	886,665
	Analysis ofchanges	in net debt —prior period			At 1April		At 31March
					2019	Cash flows	2020
					f	f	f
	Cash and cash equivalents				876,968	(412,060)	464,908
					876,968	(412,060)	464,908

			2020
		2021	H
Discount rate at	31March	2.10	2.30
Future salary increases		4.10	3.30
Future pension	increases	2.60	1.80
Rate of inflation	—RPI	2.60	1.80
Rate of inflation	- CPI	2.60	1.80

	At 31March	At 31March
	2021	2020
	f	f
Equities	14,247,360	10,968,160
Debt instruments	2,111,400	1,538,900
Property	716,040	531,620
Cash and other liquid assets	330,480	433,690
Other	954,720	517,630
Total fair value ofassets	18,360,000	13,990,000

				2021	2020
				f	f
Current service	cost			690,000	750,000
Past service cost					270,000
Interest on obligation				420,000	460,000
Expected return		on scheme assets		(320,000)	(380,000)
Total amount	recognised		in the Statement of Financial
Activities				790,000	1,100,000
Movements in	the present value ofthe defined benefit obligation			were as follows:
					2021
					f
Opening defined		benefit	obligation		18,470,000
Current service cost					690,000
Interest cost					420,000
Contributions	by scheme		participants		120,000
Actuarial gains					5,940,000
Benefits paid					(260,000)
Closing defined		benefit obligation			25,380,000

			2021
			f
Opening	fair	value ofscheme assets	13,990,000
Expected	return on assets		320,000
Actuarial	losses		3,930,000
Contributions		by employer	260,000
Contributions		by scheme participants	120,000
Benefits	paid		(260,000)
Closing fair value ofscheme assets			18,360,000

	2021	2020
	f	f
Not later than 1year	3,572	11,892
Later than 1year and not later than 5years	410	8,845
	3,982	20,737

		Unrestricted	Restricted	Total
		funds	funds	funds
		2021	2021	2020
		f	f	f
Income from:
Charitable activities		6,045,142	347,645	6,392,787
Investments		1,839		1,839
Total income		6,046,981	347,645	6,394,626
Expenditure on:
Charitable activities		7,154,153	51,745	7,205,898
Total expenditure		7,154,153	51,745	7,205,898
Net outgoing resources		(1,107,172)	295,900	(811,272)
Other recognised gains/(losses):
Actuariallosses on	defined benefit pension schemes	(250,000)		(250,000)
Net movement in funds		(1,357,172)	295,900	(1,061,272)
ReconciTiation offunds:
Total funds brought	forward	(2,746,245)	-	(2,746,245)
Net movement in funds		(1,357,172)	295,900	(1,061,272)
Total funds carried	forward	(4,103,417)	295,900	(3,807,517)