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|---|---|---|---|
|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|
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||||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|
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|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|
##
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|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|
##
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|||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)|