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2021-09-30-accounts

Protectors Report
Group Report ofthe Trustees including Strategic Report 2-11
Report ofthe Independent
Auditors		 12 - 15
Statement of Financial Activities 16-17
Balance Sheet 18-19
Statement ofCash Flows 20
Notes to Financial Statements 21-41

Charity name Charity name Charity name Building Communities Trustee Trustee Limited Limited Limited
Charity registration number 1164509
Linked charities
1164509-1—Invest Loca ITrust T/A Building Community Trust & BCT
Company registration number 08916805
Registered office Brittania
House
Caerphilly
Business Park
Caerphilly
CF83 3GG
Trustees Graham
Benfield (Founding Trustee)		 —Chair
Carol Green
(Founding		 Trustee) - Vice Chair & Chair Program'me sub-
committee
Joanne Oak - Chair Finance and General Purposes Committee
Professor Kent Matthews
Dewi Llwyd Evans
Derith Powell
Lindsey Williams —Resigned 1 October 2021
Martin
Blakebrough
David Dallimore
Dr Eva Elliott
Chief Executive Mr CJohnes
Key management personnel Mr CJohnes - Chief Executive
Mrs M Williams-
Finance Manager
Independent auditors Azets Audit Services
Chartered
Accountants		 &Statutory Auditors
Ty Derw, Lime Tree Court, Cardiff Gate Business Park
Cardiff, CF23 BAB
Bankers Unity Trust Bank
Brindleyplace
9 Brindley Place
Birmingham,
B12HB
Solicitors Geldards
4 Capital Quarter
Tyndall Street
Cardiff CF104BZ
Investment Managers CCLA Investment
Management		 Ltd
COIF Charity
Funds
80Cheapside,
London,		 EC2V 6DZ

Total Total
Unrestricted Restricted funds funds
Note funds funds 2021 2020
f f f f
Income and endowments from:
Charitable
activities		 3,501 3,501 3,501
Investments 397,895 397,895 441,056
Other income 14 14 471
Total income ond endowments 401,410 401,410 445,028
Expenditure
on:
Raising funds 48,118 48,118 54,680
Charitable
activities		 1,780,458 1,780,458 1,451,016
Total expenditure 1,828,576 1,828,576 1,505,696
Net gains oninvestments 13 25,374 25,374 51,446
Ne(t expenditure) 9 (1,401,792) (1,401,792) (1,009,222)
Reconciliation of Funds
Tata I funds brought forwa rd 19 14,449,207 14,449,207 15,458,429
Totalfunds carried forward 19,20 13,047,415 13,047,415 14,449,207

Total Total
Unrestricted Restricted funds Funds
Note funds funds 2021 2020
E f E
Income and endowments from:
Charitable
activities
Investments
Other income
Total income and endowments
Expenditure
on:
Charitable
activities		 179
Total expenditure 144 179
Net movementin funds (144) (144) (179)
Reconciliation
of		 Funds
Total funds brought forward 19 9,552 9,552 9,731
Total funds carried forward 19,20 9,409 9,40$ 9,552

~Grou Note 2021 2020
F. E
Net cash (used in) operating
activities		 26 (1,774,547) (1,326,958)
Cash flows from investing
activities:
Dividends,
interest and rents from investments		 397,895 441,056
Proceeds from sale of investments 7,372,670 6,387,862
Purchase ofproperty,
plant and equipment		 (7,068)
Purchase of investments (942,253)
Net cash provided
by investing
activities		 7,770,565 5,879,597
Change
in cash and cash equivalents		 in the reporting period 5,996,018 4,552,639
Cash and cash equivalents
at the beginning ofthe reporting
period 5,329,723 777,085
Cash and cash equivalents
at the end		 ofthe reporting period 26 11,325,741 5,329,724

IT Equipment -3years
Fixtures and Fittings -3years
Leasehold
Improvements		 -3years

Unrestricted Restricted Total Total
~Grou fundsf funds
f		 2021
f		 2020
f
Grant income WCVA 3,501 3,501 3,501
3,501 3,501 3,501

FOR THE YEA FOR THE YEA R ENDED 30SEPT EMBER 2021
4. INCOME FROM INVESTMENTS
Unrestricted Restricted Total Total
Garou fundsf funds
f		 2021
f		 2020
f
Interest earned on cash and cash
instruments 652 652 3,160
Fixed interest from bonds 296,167 296,167 356,757
Dividends from equities 101,076 101,076 81,139
397,895 397,895 441,056
5. INCOME FROM OTHER SOURCES
Unrestricted Restricted Total Total
funds funds 2021 2020
~Grou f f f
ILTacting as Fundholder Fee 471
14 14 471
6. EXPENDITURE ON RAISING FUNDS
Unrestricted Restncted Total Total
funds funds 2021 2020
~Grou f f f
Investment
management		 fees 48,118 48,118 54,680
48,118 48,118 54,680
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unds Distrib uted
Total Total
committed committed
to date to date
2021 2020
Invest local area f
Caerau 585,702 585,991
Cefn Golau 966,487 279,666
Clase 351,006 351,006
6lyn 216,644 101,500
Hubberston and Hakin 491,901 395,285
Llwynhendy 138,385 138,385
Maesgeirchen 386,886 386,886
Penywaun 290,106 290,106
Phillipstown 207,700 207,700
Pillgwenlly 288,065 288,064
Plas Madoc 908,220 506,194
Trowbridge and St Mellons 245,530 245,530
Ynysowen 323,784 290,297
5,400,416 4,066,610

Governance
costs
Unrestricted Restricted Total Total
funds funds 2021 2020
~Grou E 6 E
Trustees' expenses 462 462 2,567
Costs of meetings 788 788 385
Protector's fees 8,000 8,000 3,548
Staff costs 21,979 21,979 21,537
Audit fees 6,180 6,180 6,060
37,409 37,409 34,097

Fees for examination Fees for examination ofthe accounts
Unrestricted Restricted Total Total
~Grou funds funds 2021 2020
E E f
Auditors fee 6,180 6,180 6,060
6,180 6,180 6,060
IL NET EXPENDITURE FOR THE YEAR
This is stated after charging:
2021 2020
~Grou f
Operating leases 9,485
Depreciation 3,438 3,381
Auditors remuneration:
Audit fees 6,180 6,060
FOR THE YEAR ENDED 30 FOR THE YEAR ENDED 30 SEPTEMBER 2021
10. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, ANO THE COST OF KEY
MANAGEMENT PERSONNEL
2021 2020
~Grou E
Wages 8 salaries 266,101 241,913
Social security costs 21,798 19,114
Pension costs 23,562 20,771
311,461 281,798

STAFF NUMBERS STAFF NUMBERS
The average monthly number ofstaff employed during the year was as follows:
Total Total
2021 2020
~Grou No No
Office staff 9 9
9

FIXEDASSETS
Leasehold
Fixtures & improve- IT
Garou fittings
6		 ments
E		 Equipment
f		 Total
E
Cost
At 1October 2020 1,490 1,560 35,652 38,702
Disposals (1,560) (11,666) (13,226)
At 30September 2021 1,490 23,986 25,476
Depreciation
At 1October 2020 1,490 1,560 29,217 32,267
Charge for year 3,438 3,438
Disposals (1,560) (11,666) (13'226)
At 30September 2021 1,490 20,989 22,479
Net book value
30September 2021 2,997 2,997
30September 2020 6,435 6,435
tharitg
Cost
At 1October 2020 1,490 1,560 12,666 15,716
Disposals (1,560) (11,666) (13,226)
At 30September 2021 1,490 1,000 2,490
Depreciation
At 1October 2020 1,490 1,560 12,666 15,716
Disposals (1,560) (11,666) (13,226)
At 30September 2021 1,490 1,000 2,490
Net book value
30September 2021
30September 2020

2021 2020
~Grou E E
Market value 1October 2020 10,372,157 15,766,320
Investment
additions		 942,253
Investment
disposals		 (7,372,670) (6,387,862)
Net gain on revaluation 25,374 51,446
Fair value at 30September 2021 3,024,861 10,372,157
Cash held on deposit at 30September 2021 11,046,302 5,046,118
Total investments 14,071,163 15,418,275
Investments by type
Equity 3,024,861 2,715,367
Fixed interest 7,656,790
Cash 11,046,302 5,046,118
14,071,163 15,418,275

A summary
ofthe results		 are shown below:
Unrestricted Restricted Total funds Tota I funds
funds
f		 funds
f		 2021f 2020
f
Income and endowments from:
Charitable
activities		 3,501 3,501 3,501
Investments 397,895 397,895 441,056
Other 14 14 471
Total income and endowments 401,410 401,410 445,028
Expenditure
on:
Raising funds 48,118 48,118 54,680
Charitable
activities		 1,780,314 1,780,314 1,450,837
Total expenditure 1,828,432 1p828,432 1,505,517
Net gains on investments 25,374 25,374 51,446
Net income/(expenditure) (1,401,648) (1,401,648) (1,009,043)
Reconciliation ofFunds
Total funds brought forward 14,439,655 14,439,655 15,448,698
Total funds carried forward 13,038,007 13,038,007 14,439,655
Balance Sheet 2021
f		 2020f
Fixed assets 2,997 6,435
investments 14,071,163 15,418,275
Debtors 24,027 9,241
Cash at bank 270,030 274,052
Liabilities (1,330,210) (1,268,348)
13,038,007 14,439,655
Restricted reserves 13,038,007 14,439,655

FOR THE YEAR END ED 30SEPTEM BER2021
15. DEBTORS
Group Group Charity Charity
2021f 2020f 2021
f		 2020f
Prepayments 2,369 2,949
Accrued income 21,658 6,292
24,027 9,241
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group Group Charity Charity
2021
f		 2020
f		 2021
f		 2020f
Trade creditors 9,491 4,976
Social security and other taxation 6,551 6,260
Accruals 14,754 22,320
Funding Commitments 776,500 1,234,792
807,296 1,268,348
17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group Group Charity Charity
2021f 2020
f		 2021 2020
f
Funding Commitments 522p914
522,914
18. FINANCIAL INSTRUMENTS
2021 2020
~Grou f f
Carrying amount offinancial assets
Investments
measured		 at fair value 14,071,163 15,418,275
Charity
CarryIng amount offinancial assets
Investments
measured		 at fair value

RESTRIC TED FUNDS
At At 30
1October Gains/ September
~Grou 2020
E		 Income
E		 Expendituref (losses)
f		 2021
f
Big Lottery fund 10,314,223 (1,776,943) 8,537,280
Other Income 3,515 (3,515)
Investment income 4,134,984 397,895 (48,118) 25,374 4,510,135
14,449,207 401,410 (1,828,576) 25,374 13,047,415
Charity
Big Lottery fund 9,552 (144) 9,408
9,552 (144) 9,408
tfgvio~us ger
At At 30
1October Gains/ September
~Grou 2019
E		 Income
E		 Expendituref (losses)
f		 2020f
Big Lottery fund 11,761,267 (1,447,044) 10,314,223
Other Income 3,972 (3,972)
Investment income 3,697,162 441,056 (54,680) 51,446 4,134,984
15,458,429 445,028 (1,505,696) 51,446 14,449,207
Charity
Big Lottery fund 9,731 (179) 9,552
9,731 (179) 9,552

~Grou Unrestrictedf Unrestrictedf Restricted
f		 Total
f
Fixed assets 2,997 2,997
Investments 14,071,163 14,071,163
Current assets 303,465 303,465
Current liabilities (807,296) (807,296)
Long term liabilities (522,914) (522,914)
13,047,415 13,047,415
~Charit
Current assets 9,408 9,408
9,408
Unrestricted Restricted Total
~Grou f f f
Fixed assets 6,435 6,435
Investments 15,418,275 15,418,275
Current assets 292,845 292,845
Current liabilities (1,268,348) (1,268,348)
14,449,207 14,449,207
Charity
Current assets 9,552 9,552
9,552 9,552
21. OPERATING LEASES
Total Total
~Grou 2021f 2020f
Due less than one year 3,162
3,162
22. COMPANY STATUS

~Grou Note 2021 2020
E f
Net income/(expenditure)
for the reporting		 period (as
per the Statement of Financial Activities) (1,401,792) (1,009,222)
Adjustments
for:
Depreciation 3,438 3,380
(Gains)/losses
on revalued
fixed assets		 (25,374) (51,446)
Dividends,
interest and rents from investments		 (397,895) (441,056)
(Increase)/decrease
in debtors		 (14,786) 47,225
Increase/(decrease)
in creditors		 61,862 124,161
Net cash (used in) operating
activities		 (1p774,547) (1,326,958)
Analysis ofCash and Cash Equivalents
Cash in hand 279,438 283,604
Cash held in dealing account 13 11,046,302 5,046,118
Total Cash and Cash Equivalents 11,325,740 5,329,722

Total
Unrestricted Restricted funds
~Grou funds funds 2020
f E E
Income and endowments from:
Charitable
activities		 3,501 3,501
Investments 441,056 441,056
Other income 471 471
Totalincome and endowments 445,028 445,028
Expenditure
on:
Raising funds 54,680 54,680
Charitable
activities		 1,451,016 1,451,016
Total expenditure 1,505,696 1,505,696
lvet gains on investments 51,446 51,446
Net expenditure (1,009,222) (1,009,222)
Reconciliation ofFunds
Total funds brought forward 15,458,429 15,458,429
Totalfunds carried jbrward 14,449,207 14,449,207
Charity
Income and endowments from:
Charitable
activities
Investments
Other income
Totalincome and endowments
Expenditure
on:
Charitable
activities		 179 179
Total expenditure 179 179
Net movementin
funds		 (179) (179)
Reconciliation of Funds
Total funds brought forward 9,731 9,731
Totalfunds carried forward 9,552 9,552