OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-09-30-accounts

Protectors Report
Group Report ofthe Trustees including Strategic Report
Report ofthe Independent
Auditors
Statement of Financial Activities
Balance Sheet
Statement ofCash Flows
Notes to Financial Statements

REFERENCE AND ADMINISTRATIVE REFERENCE AND ADMINISTRATIVE REFERENCE AND ADMINISTRATIVE REFERENCE AND ADMINISTRATIVE REFERENCE AND ADMINISTRATIVE DETAILS
Charity name Building Communities Trustee Limited
Charity registration number 1164509
Linked charities
1164509-1-Invest LocalTrust T/A Building Community Trust &BCT
Company registration number 08916805
Registered office Britannia
House
Caerphilly
Business Park
Caerphilly
CF833GG
Trustees Graham
Benfield (Founding Trustee) - Chair
Carol Green
(Founding		 Trustee) - Vice Chair & Chair Programme sub-
committee
Joanne Oak - Chair Finance and General Purposes Committee
Professor Kent Matthews
Dewi Llwyd Evans
Derith Powell —Resigned 20June 2022
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
Brindley Place
9 Brindley Place
Birmingham,
812HB
Solicitors Geldards
4Capital 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 2022 2021
f E E
Income and endowments from:
Charitable
activities		 3,501 3,501 3,501
Investments 52,504 52,504 397,895
Other income 389 389 14
Totalincome and endowments 56,394 56,394 401,410
Expenditure
on:
Raising funds 48,118
Charitable
activities		 1,070,328 1,070,328 1,780,458
Total expenditure 1,070,328 1,070,328 1,828,576
Net (lossesJ/gains on 13
investments (303,542) (303,542) 25,374
Net expenditure J (1,317,476) (1p317,476) (1,401,792)
Reconciliation
of		 Funds
Total funds brought forward 19 13,047,415 13,047,415 14,449,207
Totalfunds carried forward 19,20 11,729,939 11,729,939 13,047,415

Total Total
Unrestricted Restdcted funds Funds
Note funds funds 2022 2021
E E E E
Income and endowments from:
Charitable
activities
Investments
Otherincome
Totalincome and endowments
Expenditure
on:
Charitable
activities		 179 179 14
Total expenditure 179 179 144
Net movement in funds (179) (179) (144)
Reconciliation of Funds
Total funds brought forward 19 9,408 9,408 9,552
Totalfunds carried forward 19,20 9,229 9,229 9,408
2022 2021
Note E
Fixed assets:
Tangible assets 12 5,004 2,997
Investments 13 12,342,629 14,071,163
12,347,633 14,074,160
Current assets:
Debtors 15 14,093 24,027
Cash at bank and in hand 651,452 279,438
665,545 303,465
Liabilities:
Creditors: Amounts falling due
within one year 16 (871,961) (807,296)
Net current (liabilities)/assets (206,416) (503,831)
Total assets less current liabilities 12,141,217 13,570,329
Creditors: Amounts falling due after
more than one year 17 (411,278) (522,914)
Net assets 20 11,729,939 13,047,415
The funds ofthe charity:
Restricted income funds 19 11,729,939 13,047,415
Total charity funds 20 11,729,939 13,047,415
Garou Note 2022 2021
f E
Net cash (used in) operating
activities		 26 1,100,789 (1,774,547)
Cash flows from investing
activities:
Dividends,
interest and rents from investments		 52,504 397,895
Proceeds from sale ofinvestments 7,372,670
Purchase ofproperty,
plant and equipment		 (4,693)
Purchase ofinvestments (2,000,000)
Net cash provided
by investing
activities		 (1,952,189) 7,770,565
Change in cash and cash equivalents in the reporting period (3,052,9781 5,996,018
Cash and cash equivalents
at the beginning ofthe reporting
period 11,325,740 5,329,723
Cash and cash equivalents
at the end		 ofthe reporting period 26 8,272,762 11,325,741

Unrestricted Restricted Total Total
funds funds 2022 2021
~Grou E f E E
Grant income WCVA 3,501 3,501 3,501
3,501 3,501 3,501

4. INCOME FROM INVESTMENTS INCOME FROM INVESTMENTS INCOME FROM INVESTMENTS INCOME FROM INVESTMENTS
Unrestricted Restricted Total Total
funds funds 2022 2021
~Grou E E
Interest earned on cash and cash
instruments 47,910 47,910 652
Fixed interest from bonds 296,167
Dividends from equities 4,594 4,594 101,076
52,504 52,504 397,895
5. INCOME FROM OTHER SOURCES
Unrestricted Restricted Total Total
funds funds 2022 2021
~Grou E f
Insurance claim 389 389
ILTacting as Fundholder Fee 14
389 389 14
6. EXPENDITURE ON RAISING FUNDS
Unrestricted Restricted Total Total
~Grou fundsf funds
E		 2022 2021
E
Investment management fees 48,118
48,118
p0 Ot4 00
ID
CQ
ID		 Vt
a-I
ah		 lh
ID
ID
Ol		 ED
E4
O
E4
0
Vl		 0
0
00
Ih
IEI		 /4
ID
m
M
IO
p
E'		 t4
t4
R		 CI
IEI
Cl
ID
t4		 m
Ch
Ol		 I hl
Ol
Qt		 I hl
t4
I4
I4
hl		 OOQ
ID
Qt Ih
Ol
00		 mm
Cl t4
Ch t4
IVI
QIOI
OW
C g g
4 E
EA
Ec		 I I I Ol
Ih
ID
Ih
~t		 Eh
CO
\tl		 lh
Ih
Ih
t4t4		 Ol
ID
I4
ID		 Ct
t4
O		 EhO
ID
m
hl
0
al
N
0		 '0
0E		 CI
IVI
ID		 Itl
IVI		 hl
Ol
ID		 hl
hl
hl		 Ol
Qt
IL IO ID
E4		 Cl ~4 Ih Ih
00
0
4I		 Ih t4
t4
Rw~
Z t4
2
Cl
I/I + W
I		 Vl
C4		 E0 IQ
Ol
IQ
Ol		 o
Ih
Ig		 m
Ol
m		 Ch
hl
VC		 Ih
~h		 Ih
lhhl		 ~t
~I
Ol
CO
m'tl		 IEI
Qt
Ol
Ch
Al
CC ~
OI
I-
EO
Ih
Ih
O
OI V tn
Ega
g g
III6
F42		 '50 '0
01
V		 hl
Ch
I4
I
Ol		 O
Ih
Ih
I4
Ol		 CO
Ol
M
Ol		 Ih
t4
t4
Ol
Ih		 O
0
00
Eh		 O
O
'0		 Ol
Ih
ID
O		 IV
O
t		 e
I4
Ih
Ih		 Ol
$
0
8		 Z
C
0		 CC
0.'
4I		 '0
eZ
DI Z
I- I-
90
EC
5Z0
CC
4		 C
0
40		 0
Ql		 Ql
Ial
08		 Ql
IC
Ql
EJ
O
C
C0
Ih
I
IO		 I
Ol
0
C4		 C0c
'0
Ql
U
Ql
EQ
C		 vl
E-
EQ
u0
lh
0		 0
ID		 C0
EQ
Ql
00
CL
40
Ol
0=
EQ0
EJ		 Ih Vl
I-
EQ00
V!
Ql		 U
Ih
U		 L0
IQ
al0
EQ
I-
O
E
Ql
D.		 EQ
Vl
al
0
E/I		 IQ
C
Ql
E
Ql
C		 0
QlL
U
Ql
IC
IQ
IQ		 EJ
IL
C		 EQ
C0
EO
E0
VC
Vl
0
8		 Ql
QlU		 4( E
IQ
40L
IQ
QI
Ql
aa
VEU
I-
CC
~C		 c2
EJR0
ID
IL
I0R
OCw		 Ol
0
al		 IO
Ol
CC
IO
0
ah
Cl
0		 IOa
Ol
V		 IO0
CD0
4
Ol
CJ		 IOz'000
C
QI
CO		 00 C
C 0
0 0
I.—
0
Ol IE
D. D.		 EI0
'0
IQ
K		 0
0

unds Distrib uted
Total Total
committed committed
to date to date
2022 2021
Invest local area E
Caerau 656,365 585,702
Cefn Golau 966,487 966,487
Clase 400,404 351,006
Glyn 499,019 216,644
Hubberston and Hakin 590,070 491,901
Llwynhendy 142,385 138,385
Maesgeirchen 572,225 386,886
Penywaun 290,106 290,106
Phillipstown 206,006 207,700
Pillgwenlly 288,065 288,065
Plas Madoc 894,997 908,220
Trowbridge and St Mellons 245,530 245,530
Ynysowen 323,784 323,784
6,075,443 5,400,416
Governance
costs
Unrestricted Restricted Total Total
funds funds 2022 2021
~Grou f E E E
Trustees' expenses 338 338 462
Costs ofmeetings 204 204 788
Trustees training 1,650 1,650
Protector's fees 8,000 8,000 8,000
Staff costs 22.331 22.331 21,979
Audit fees 6,324 6,324 6,180
38,847 38,847 37,409

Fees for examination ofthe accounts
Unrestricted Restricted Total Total
~Grou funds funds 2022 2021
f f f f
Auditors fee 6,324 6,324 6,180
6,324 6,324 6,180
9. NET EXPENDITURE FOR THE YEAR
This is stated after charging:
~Grou 2022f 2021
f
Operating
leases		 5,808
Depreciation 2,686 3,438
Auditors
remuneration:
Audit fees 6,324 6,180

NALYSIS OF STAFF COSTS, TRUSTEE REMUNERATI
MANAGEMENT
PERSONNEL		 ON
AND EXPENSES, AND THE COST OF KE		 Y
2022 2021
~Grou E E
Wages &salaries 272,141 266,101
Social security costs 22,853 21,798
Pension costs 20,925 23,562
315,919 311,461

he ave rage
monthly
number ofstaff employed		 during the year was as follows
Total Total
2022 2021
~Grou No No
Office staff 9 9
9 9

Fixtures & IT
fittings Equipment Total
~Grou E E E
Cost
At 1October 2021 1,490 13,587 15,077
Additions 4,693 4,693
Disposals (2,870) (2,870)
At 30September 2022 1,490 15,411 16,901
Depreciation
At 1October 2021 1,490 10,590 12,080
Charge for year 2,686 2,686
Disposals (2,870) (2,870)
At 30September 2022 1,490 10,407 11,897
Net book value
30September 2022 5,004 5,004
30September 2021 2,997 2,997
Charity
Cost
At 1October 2021 1,490 1,000 2,490
At 30September 2022 1,490 1,000 2,490
Depreciation
At 1October 2021 1,490 1,000 2,490
At 30September 2022 1,490 1,000 2,490
Net book value
30September 2022
30September 2021

2022 2021
Garou E E
Market value 1October 2021 3,024,861 10,372,157
Investment
additions		 2,000,000
Investment
disposals		 (7,372,670)
Net (loss)/gain on revaluation (303,542) 25,374
Fair value at30September 2022 4,721,319 3,024,861
Cash held on deposit at 30September 2022 7,621,310 11,046,302
Total investments 12,342,629 14,071,163
Net cash released from investments was f1,480,000 (2021:E1,540,000).
Investments by type
Equity 4,721,319 3,024,861
Fixed interest
Cash 7,621,310 11,046,302
12,342,629 14,071,163

A summary
ofthe re		 sults are shown below:
Unrestricted Restricted Total funds Totalfunds
funds
f		 funds
f		 2022f 2021
f
Income and endowments from:
Charitable
activities		 3,501 3,501 3,501
Investments 52,504 52,504 397,895
Other 389 389 14
Total income and endowments 56,394 56,394 401,410
Expenditure
on:
Raising funds 48,118
Charitable
activities		 1,070,149 1,070,149 1,780,314
Total expenditure 1,070,149 1,070,149 1,828,432
Net losses/gains
on		 investments (303,542) (303,542) 25,374
Net income/(expenditure) (1,317,297) (1,317,297) (1,401,648)
Reconciliation ofFunds
Total funds brought forward 13,038,007 13,038,007 14,439,655
Totalfunds carried forward 11,720,710 11,720,710 13,038,007
Balance Sheet 2022 2021
f f
Fixed assets 5,004 2,997
Investments 12,342,629 14,071,163
Debtors 14,093 24,027
Cash at bank 642,223 270,030
Liabilities (1,283,239) (1,330,210)
11,720,710 13,038,007
Restricted
reserves		 11,709,710 13,038,007
FOR THE YEAR ENDE D 30SEPTEM BER 2022
15. DEBTORS
Group Group Charity Charity
2022 2021
f		 2022f 2021
f
Prepayments 3,103 2,369
Accrued income 10,990 21,658
14,093 24,027
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group Group Charity Charity
2022f 2021
E		 2022
f		 2021
f
Trade creditors 18,942 9,491
Social security and other taxation 7,550 6,551
Accruals 6,901 14,754
Funding Commitments 838,568 776,500
871,961 807,296
17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group Group Charity Charity
2022f 2021
f		 2022
f		 2021
Funding Commitments 411,278 522,914
411,278 522,914
18. FINANCIAL INSTRUMENTS
2022 2021
Garou f f
Carrying amount offinancial assets
Investments
measured		 at fair value 12,342,629 14,071,163
Charity
Carrying amount offinancial assets
Investments
measured		 at fair value
RESTRICTED FUNDS
At At30
1October Gains/ September
~Grou 2021
E		 Income
f		 Expenditure
f		 (losses)
f		 2022
E
Big Lottery fund 8,537,280 (1,066,438) 7,470,842
Otherlncome 3,&90 (3,890)
Investment income 4,510,135 52,504 (303,542) 4,259,097
13,047,415 56,394 (1,070,328) (303,542) 11,729,939
Charity
Big Lottery fund 9,408 (179) 9,229
9,408 (179) 9,229
At At 30
1October Gains/ September
~Grou 2020
f		 Incomef Expenditure
f		 (losses)
E		 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
Unrestricted Restricted Total
~Grou f f
Fixed assets 5,004 5,004
Investments 12,342,629 12,342,629
Current assets 665,545 665,545
Current liabilities (871,961) (871,961)
Long term liabilities (411,278) (411,278)
11,729,939 11,729,939
Charity
Current assets 9,229 9,229
9,229 9,229
Garou Unrestrictedf Restrictedf Totalf
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
Charity
Current assets 9,408 9,408
9,408 9,408
21. OPERATING LEASES
Total Total
~Grou 2022
f		 2021f
Due less than one year 7,834
7,834

RECONCILIATION
OF NET INCOME/(EXPENDITURE)		 TO NET CASH FLOW FROM OPERATING ACTIVITIES
~Grou Note 2022 2021
E E
Net income/(expenditure)
for the reporting		 period (as
per the Statement ofFinancial Activities) (1,317,476) (1,401,792)
Adjustments for:
Depreciation 2,686 3,438
(Gains)/losses
on revalued
fixed assets		 303,542 (25,374)
Dividends,
interest and rents from investments		 (52,504) (397,895)
(Increase)/decrease
in debtors		 9,934 (14,786)
Increase/(decrease)
in creditors		 (46,971) 61,862
Net cash (used in) operating
activities		 (1,100,789) (1,774,547)
Analysis ofCash and Cash Equivalents
Cash in hand 651,452 279,438
Cash held in dealing account 13 7,621,310 11,046,302
Total Cash and Cash Equivalents 8,272,762 11,325,740

Total
Unrestricted Restricted funds
~Grou funds funds 2021
f f f
Income and endowments from:
Charitable
activities		 3,501 3,501
Investments 397,895 397,895
Other income 14 14
Total income and endowments 401,410 401,410
Expenditure
on:
Raising funds 48,118 48,118
Charitable
activities		 1,780,458 1,780,458
Total expenditure 1,828,576 1,828,576
Net gains oninvestments 25,374 25,374
Ne(t expenditure) (1,401,792) (1,401,792)
Reconciliation
of		 Funds
Total funds brought forward 14,449,207 14,449,207
Total funds carried forward 13,047,415 13,047,415
Total
Unrestricted Restricted funds
Charity funds
f		 funds
f		 2021
f
Income and endowments from:
Charitable
activities
Investments
Other income
Totalincome and endowments
Expenditure
on:
Charitable
activities		 144 144
Total expenditure 144
Net movementin funds (144) (144)
Reconciliation of Funds
Total funds brought forward 9,552 9,552
Total funds carried forward 9,408 9,408