## ## |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
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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|