2021-03-31-accounts - Awen Cultural Trust

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Report ofthe Trustees incorporating	the Strategic Report	1-13
Report ofthe Independent Auditors		14-17
Statement ofFinancia IActivities		18-19
Balance Sheet		20-21
Statement ofCash Flows		22
Notes to Financial Statements		23-53

				Total	Total
		Unrestncted	Restricted	funds	funds
	Note	., funds E	funds E	2021 E	2020 f
Income and endowments from: Donations and legacies Charitable activities investment income Other trading activities Total income and endowments	3 4 5 11	5,024 3,416,358 17,043 921,243 3759668	1,490,965 1,490,965	5,024 4,907,323 17,043 321,243 5,250,633	10,644 5,197,739 19,637 1,096,083 6,324,103
Expenditure on: Charitable activities Awen Trading Limited Total expenditure		3,217,317 357,867 3,575,184	682,507 682,507	3,899,824 357,867 4,257,691	5,126,502 876,255 6,002,757
Net income		184,484	808,458	992,942	321,346
Transfers between funds	16,17	691839	(691,439)
Other recognised losses:
Actuarial (losses) on defined benefit pension schemes Net movement infunds	17,22	(296,000) 579,923	117,019	(299,ll99) 696,942	~(794,95II (472,654)
Reconciliation of Funds Total funds brought forward Totalfunds carried j'orward	16,17 18	(1,110,341) (599,418)	597,573 714,592	(512,768) 194,174	(40,114) (512.788)

					Total	Total
			Unrestricted	Restricted	funds	funds
		Note	funds	funds	2021	2020
Income and endowments	from:
Donations and legacies Charitable activities Investment income Totalincome and endowments		3 4 5	5,024 3,455,825 17,043 3,477,892	1,490,965 1,490,965	5,024 4,946,790 17,043 4,968,857	31,708 5,395,051 19,637 5,446,396
Expenditure on:
Charitable activities Total expenditure			3,217,317 3,217,317	6&2,507 682,507	3,899,824 3,899,824	5,126,502 5,126,502
Netincome			260,575	808,458	1,069,033	319,894
Tnrnsfers between funds		16,17	691,439	(691,439)
Other recognised losses:
Actuarial (losses) on defined
benefit pension schemes Net movement in funds		17,22	(296,000) 656,014	117,019	(296,000) 773,033	(794,000) (474,106)
Reconciliation ofFunds
Total funds brought forward Totalfunds carried forward		16,17 18	(1,110,342) (454,828)	597,573 714,592	(512,769) 269,264	(38,663) (512,769)

	A	S AT31 M	ARCH 2021
			2021		2020
		Note	E
Fixed assets: Tangible assets Intangible assets		9 10		1,338,402 9,764 1,348,166		676,568 5,526 682,094
Current assets: Stocks Debtors Cash at bank and in	hand	12	19,329 199,917 4,137,066 4,356,312		31,094 386,879 2,911,667 3329 640
Liabilities:
Creditors: Amounts one year	falling due within	13	(1,954,427)		(1,641,917)
Net current assets Total assets less current liabilities				2,401,885 3,750,051		1,687,723 2,369,817
Creditors: Amounts more than one year	falling due after			(117,877)		(69,585)
Net assets excluding pension liability				3,632,174		2,300,232
Defined benefit pension scheme liability		22		(3p448,000) 184174		(2,813,000)
Total net liabilities
The funds ofthe group: Restricted income funds				714,592		597,573
Unrestricted funds General fund Designated fund Pension reserve		17 17 22	545,102 2372480 (3,448,000)	(530,418)	1,218,345 484,314 (2,813,000)	(1,110,341)
				1$4,174

			2021	2020
		Note
Fixed assets:
Tangible assets		9	1,323,890		659,218
Intangible assets		10	5,660
Investments		11	1
			1,329,551		659,219
Current assets:
Stocks			10,117	13,437
Debtors		12	222,136	446,775
Cash at bank and in	hand		3,781,942	2,650,378
			4,014,195	3,110,590
Liabilities:
Creditors: Amounts	falling due within
one year		13	(1,635,482)	(1,469,578)
Net current assets			2,378,713		1,641,012
Net assets excluding	pension liability		3,708,264		2,300,231
Defined benefit pension scheme liability		22	(3jW8,000)		(2,813,000)
Total net liabilities			260,264		(512,769)
The funds ofthe charity:
Restricted income funds		16	714,592		597,573
Unrestricted funds
General fund		17	639,807	1,218,344
Designated fund		17	2,353,865	484,314
Pension reserve		22	(3,448,000)	(2,813,000)
			(454,328)		(1,110,342)
Totalcharityfunds			260,264		(512,769)

FOR THE Y	EAR ENDE	D 31 M	ARCH 2	021
				Note	2021f	2020 E
Net cash provided by operating activities flows				22	2,029,403	1,577,835
Cash Iroinvesting activities: Dividends, interest and rents from investments				5	17,043	19,637
Purchase of property plant and equipment				9	(816,566)	(399,315)
Purchase of intangible assets				10	(7,075)
Net cash used in investing activities					(804,004)	(379,678)
Change in cash and cash equivalents in the	reporting	period			1,225,399	1,198,157
Cash and cash equivalents at the beginning	ofthe reporting		period	22	2,911,667	1,713,510
Cash and cash equivalents at the end ofthe reporting		period		22	4,137,066	2,911,667

	Unrestricted	Restricted	Total	Total
	funds	funds	2021	2020
Garou	F.	E	f	6
Donations	5,024		5,024	10,644
	5,024		5,024	10,644
Charithr
Donations	5,024		5,024	10,644
Awen Trading Covenant				21,064
	5,024		5,024	31,708

NCOME FROM CHAR	ITABLE ACTIVITI	ES
		Unrestricted	Restricted	Total	Total
Garou		funds	funds E	2021f	2020 E
Contract income		58,542		58,542	96,777
Grants		172,470	1,490,965	1,663,435	888,796
Hire and rental income		9,821		9,$21	170,324
Library income		3,463		3,463	22,171
Management fee		3,062,890		3,062,890	3,078,733
Membership		330		330	1,590
Car park income		35,857		35,&57	38,010
Sundry		46,194		46,194	46,824
Sale ofgoods		23,958		23,958	150,602
Ticket sales		2,833		2,833	703,912
		3,416,358	1,490,965	4,907,323	5,197,739
Grants include:
Architectural Heritage					9,911
Arts Council ofWales —Various		67,625	207,933	275,558	61,79&
BAVO		(180)		(180)	5,971
Books4U			2,338	2,338
Bridgend County Borough Council		95,398	66,750	162,148	26,500
Cardiff City Borough	Council				600
Clothworker Grant					22,000
Estyn Allan			5,000	5,000
Garfield Weston			111,029	111,029	200,000
HMRC Coronavirus	Job retention
Scheme			4$3,008	4$3,008
Maesteg Town Council			40,000	40,000
Millennium Stadium	Trust				7,500
Naturesave Trust					475
Oakdale Trust					1,500
Pilgrim Trust					4,000
Porthcawl Town Council			10,000	10,000	15,000
Welsh Government	Museums,
Archives & Library	Division				31,179
Welsh Government		9,627	564,907	574,534	487,362
Will Charitable Trust					15,000
		172,470	1,490,965	1,663,435	888,796
				Total	Total
				2021	2020
					E
Income is attributable to:
Parks and work based projects				382,098	423,720
Central				3,490,070	3,983,217
Community centres				17,637	51,486
Libraries				354,767	91,618
Venues				1006061	1,774,062
				5,250,633	6,324,103

			Unrestricted	Restricted	Total	Total
Charity			fundsf	funds E	2021 E	2020 f
Contract income			98,009		98,009	239,821
Grants			172,470	1,490,965	1,663,435	888,796
Hire and rental income			9,821		9,821	170,324
Library income			3,463		3,463	22,171
Management fee			3,062,890		3,062,890	3,078,733
Membership			330		330	1,590
Car park income			35,857		35,857	38,010
Sundry			46,194		46,194	101,092
Sale ofgoods			23,958		23,958	150,602
Ticket sales			2,833		2,833	703,912
			3,455,$25	1,490,965	4,946,790	5,395,051
Grants include:
Architectural Heritage						9,911
Arts Council ofWales —Various			67,625	207,933	275,558	61,798
BAVO			(180)		(180)	5,971
Books4U				2,338	2,338
Bridgend County Borough Council			95,398	66,750	162,14&	26,500
Cardiff City Borough	Council					600
Clothworker Grant						22,000
Estyn Allan				5,000	5,000
Garfield Weston				111,029	111,029	200,000
HMRC Coronavirus	Job	retention
Scheme				483,008	483,008
Maesteg Town Council				40,000	40,000
Millennium Stadium	Trust					7,500
Naturesave Trust						475
Oakdale Trust						1,500
Pilgrim Trust						4,000
Porthcawl Town Council				10,000	10,000	15,000
Welsh Government	Museums,
Archives )k Library	Division					31,179
Welsh Government			9,627	564,907	574,534	487,362
Will Charitable Trust						15,000
			172jl70	1,490,965	1,663/35	888,796
					Total	Total
					2021	2020
						E
Income is attributable		to:
Parks and work based projects					382,098	423,720
Central					3,251,235	3,105,510
Community centres					17,637	51,486
Libraries					354,767	91,618
Venues					963,120	1,774,062
					4,968,857	5,446,396

		Unrestricted	Unrestricted	Restricted	Total	Total
~dd d			funds f	fundsf	2021f	2020 f
Bank interest			17,043		17,043	19,637
			17,043		17,043	19,637
EXPENDITURE ON CHARITABLE		ACTIVITIES
					Total	Total
Grou and Chari		Direct f	Support f	Governance	2021 f	2020 f
Artists and theatre	costs	41,809			41,809	456,228
Audit and accountancy				9,000	9,000	9,000
Bad debts		170			170	3,623
Bank charges		4,086	1,216		5,302	13,324
Cleaning		13,719	654		14,373	76,974
Depreciation		131,804	13,545		145,349	101,540
Goods for resale		21,083			21,083	76,488
Grants		10,000			10,000	37,500
Heat and light Insurance		80,097	45,413		S0,097 45,413	133,135 49,186
Irrecoverable VAT			11,3$4		11,384	83,405
ITand Telephone Library books and	periodicals	28,215 146,839	40,831		69,046 146,839	62,234 210,671
Loss on disposal offixed
assets		5,559			5,559
Motor costs		13,795	25		13,820	24,527
Pension finance costs		45,360	17,640		63,000	37,000
Printing, post and Professional fees	stationery	4,415 36,062	845 33,624		5,260 69,686	15,947 89,972
Repairs, renewals maintenance	and	99,598	1,115		100,713	181,760
Recruitment and marketing Rent and rates		24,698 91,418			24,69$ 91J1$	78,840 146,4e6
Staff costs		2,100,203	7IL3,046		2,8$3,249	3,125,041
Staff training Subscriptions and	licenses	2,594 5,207	9,087 3&776		11,681 8,9$3	34,740 19,930
Sundry Sundry tools and Ticket costs	equipment	776 15,462 26$	1,466 1,105		2,242 16,567 268	452 12,788 19,713
Travelling		1,258	1,557		2,812	26,018
		2,924,495	966,329	9,000	3,$99,824	5,126,502

				Total	Total
Garou				2021	2020
				f	f
Expenditure		is attributable	to:
Arts and youth				84,859	159,347
Parks and work based projects				631,525	782,767
Central				1,279,052	1,207,877
Community	centres			83,087	99,245
Libraries				1,250,812	1,498,072
Venues				570,489	1,379,194
Awen Trading		Limited		357,867	876,255
				4,257,691	6,002,757

Charity
Expenditure	is attributable	to:
Arts and youth			&4d859	159,347
Parks and work based projects			631,525	782,767
Central			1,279,052	1,207,877
Community	centres		83,087	99,245
Libraries			1,250,812	1,498,072
Venues			570,489	1,379,194
			3,899,824	5,126,502

~Gd	d	2021 f	2020 f
Bridgend Youth Theatre			2,500
It's My Shout	-Short Film Training Scheme	10,000	35,000
		10,000	37,500

		Total	Total
		2021	2020
Garou		E	f
Wages and salaries External staff costs		2,461,521	2,681,724 46,997
Social security costs		181,437	182,102
Defined benefit pension costs		536,000	672,000
Other pension costs		6,375	4,807
		3,185,333	3,587,630
		Total	Total
		2021	2020
&barite			E
Wages and salaries External staff costs		2,185,038	2,278,020 7,156
Social security costs		162,211	167,865
Defined benefit pension costs		536,000	672,000
		2,883,249	3,125,041
The number ofemployees whose annual	remuneration	was E60,000or more were:
		Total	Total
		2021	2020
G~dCh		E	E
660,000 - 669,999
f70,000 -f79,999

	2021	2020
	No.	No.
Park and work based projects	14	13
Central	18	21
Libraries	57	62
Venues	53	93
	142	189

	2021	2020
	No.	No.
Park and work based projects	13	12
Central	16	19
Libraries	34	37
Venues	13	16
	74	84

ANGIBLE FIXEDASSETS
		Property
~Grou	Equipment	improvements	Motor	Total
				E
Cost
At 1April 2020	418,502	401,335	40,662	860,499
Additions	125,176	691,390		816,566
Disposals	(29,0&4)			(29,084)
At 31March 2021	514,594	1,092,725	40,662	1,647,981
Depreciation At 1April 2020 Charge for the year	128,624 74,275	40,572 64,554	14,735 10,068	183,931 148,897
Disposal	~(2R,249			(23,249)
At 31March 2021	179,650	105,126	24,803	309,579
Net book value
At 31March 2021	334,944	987,599	15,859	1,338,402
At 31March 2020	289,878	360,763	25,927	676,568
		Property
Charity	Equipment	improvements	Motor	Total
		E		F.
Cost
At 1April 2020 Additions	396p193 123,101	401,335 691,390	40,662	838,190 814,491
Disposals	(29,084)			(29,0&4)
At 31March 2021	490,210	1,092,725	40,662	1,623,597
Depreciation At 1April 2020 Charge for the year	123,665 69,362	40,572 64,554	14,735 10,068	178,972 143,984
Disposal	(23,249)			(23,249)
At 31March 2021	169,778	105,126	24,803	299,707
Net book value
At 31March 2021	320,432	987,599	15,859	1,323,890
At 31March 2020	272,528	360,763	25,927	659,218

INTANGIBLE FIXEDASSETS
	Website
~Grou	costs	Total
Cost
At 1April 2020	7,110	7,110
Additions	7,075	7,075
At 31March 2021	14,185	14,185
Depreciation
At 1April 2020	1,584	1,584
Charge for the year	2,837	2,837
At 31March 2021	4,421	4,421
Net book value
At 31March 2021	9,764	9,764
At 31March 2020	5,526	5,526
Charity
Cost
At 1April 2020
Additions	7,075	7,075
At 31March 2021	7,075	7,075
Depreciation
At 1April 2020
Charge for the year	1,415	1,415
At 31March 2021	1,415	1,415
Net book value
At 31March 2021	5,660	5,660
At 31March 2020

he results ofthe company	for th	e year en	ded 31March	2021can be foun	d below:
			2021	2021	2020	2020
			E		E	E
Profit and Loss Account
Turnover				321,243		1,096,083
Administrative expenses				(397,332)		(1,073,569)
Operating profit/ (loss)				(76,089)		22,514
Statement ofChanges in Equity
Balance brought forward						(1,450)
Profit/ (loss) and total comprehensive income for the period				P6,089)		22,514
Distributions to parent	charity	under
gift aid						(21,064)
Balance carried forward				(76,089)
Balance Sheet
Fixed assets:
Tangible assets				14,512		17,350
Intangible assets				4,104		5,526
				18,616		22,876
Current assets:
Stock			9,211		17,655
Debtors			316		3,228
Cash at bank and in hand			355,124		261,290
			364,651		282,173
Current liabilities:
Trade creditors			2,472		7,186
Amount due to parent			22,535		63,123
Taxation and Social security			23,144		30,638
Other creditors			293,327		134,516
			341,47$		235,463
Net current assets				23,173		46,710
Total assets less current	liabilities			41,7$9		69,586
Creditors: amounts falling due		after
more than one year				(117,877)		(69,585)
Net assets/ (liabilities)				(76,088)
Capital and Reserves:
Called up share capital				1
Profit and loss reserves				(76,089)
				(76,0SS)

DEBTORS
		Total	Total
		2021	2020
~Grou		E	E
Trade debtors		84,666	120,136
Prepayments	and accrued income	115,130	265,633
Other debtors		121	1,110
		199,917	386,879
tharitE
Trade debtors		84,570	117,641
Amounts owed by group undertakings		22,535	63,123
Prepayments	and accrued income	114,910	264,901
Other debtors		121	1,110
		222,136	446,775

CREDITORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
		Total	Total
		2021	2020
~Grou		E	E
Trade creditors		168,257	117,064
Accruals		279,049	209,426
Deferred income		1,214,882	1,064,512
Taxation and social security		249,217	65,978
Other creditors		40,522	184,937
Loan		2,500
		1,954,427	1,641,917
Charity
Trade creditors		165,785	109,879
Accruals and deferred	income	277,282	170,824
Deferred income		928,993	950,533
Taxation and social security		227,221	82,127
Other creditors		36,201	156,215
		1,635,482	1,469,578

		2021	2020
~Grou		E	f
WCVA Loan		32,120
Deferred	income (see note 14)	85,757	69,585
		117,877	69,585
		2021	2020
Grou -loans due in&1 ear		f	f
Amounts	due 2-5 years	17,922
Amounts	due &5years	14,198
		32,120

set atthe	end ofthe 24	months. The loan is fora period of8	years.
			2021	2020
Grou - deferredincome		due in &1 ear	E	f
Amounts	due 2-5years		85,757	69,585
			85,757	69,585

		Ticket	Manage-	Catering &	Total	Total
		sales	ment fee	wedding	2021	2020
				income
Garou				f
Balances as at 1	April 2020	180,151	765,722	188,224	1,134,097	1,056,896
Income received	in the year		3,068,251	198,363	3,266,614	4,206,336
Released to income		(27,820)	(3,062,890)	(9,362)	(3,100,072)	(4,129,135)
Balance as at 31	March 2021	152,331	771,083	377,225	1,300,639	1,134,097
Charity
Balances as at 1April 2020		180,151	765,722	4,660	950,533	958,596
Income received	in the year		3,068,251	10,854	3,079,105	4,095,509
Released to income		(27,820)	(3,062,890)	(9,935)	~0,100,606	(4,103,572)
Balance as at 31	March 2021	152,331	771,083	5,579	928,993	950,533

RESTRICTED FUNDS
		Asat				Balance at
		1April				31March
~Gd Cd		2020	Income f	Expenditure f	Transfers f	2021 f
Arts Council of Wales-
Various			207,933	(137,409)	(38,677)	31,847
Books4U			2,338	(2,338)
Bridgend County Borough Council		50,500	66,750	(44,534)		72,716
Estyn Allan Garfield Weston		200,000	5,000 111,029	(5,000)		311,029
HMRC Coronavirus	Job
Retention Scheme			483,008	(483,008)
Maesteg Town Council Millennium Stadium Trust		7,500	40,000			40,000 7,500
Oakdale Trust		1,500				1,500
Pilgrim Trust		712		(712)
Porthcawl Town Council			10,000		(10,000)
Welsh Government		337361	564,907	(9,506)	(642,762)	250,000
		597,573	1,490,965	(682,507)	(691,439)	714,592

			As at				Balance at
			1April				31March
G~dCh			2019	Incomef	Expenditure f	Transfers f	2020f
Architectural Heritage				9,911	(9,911)
Arts Council ofWales—
Various			24,189	28,800	(52,989)
Arts Council ofWales LED
Lights Pavilion				32,498	(6,500)	(25,998)
Arts Council ofWales Summer
Reading				500	(500)
Bailey Thomas Charitable		Fund		15,000	(3,000)	(12,000)
BAVO				5,971	(5,971)
Books4U				31,179	(31,179)
Bridgend County Borough
Council				26,500		24,000	50,500
Cardiff City County Borough
Council				600	(600)
Clotherworker Grant				22,000	(6,180)	(15,820)
Garfield Weston				200,000			200,000
Millennium Stadium	Trust			7,500			7,500
Natursave Trust				475	(475)
Oakdale Trust				1,500			1,500
Pilgrim Trust				4,000	(3,288)		712
Welsh Government
Communities Facilities				250,000			250,000
Welsh Government	Valleys
Regional Parks				237,362	(30,000)	(120,001)	87,361
Will Charitable Trust				15,000	(9,814)	(5,186)
			24,189	888,796	(160,407)	(155,005)	597,573

						Actuarial
						losses on
						defined
		Balance at				benefit	Balance at
		1April				pension	31March
		2020	Income	Expenditure	Transfers	scheme	2021
Garou		E	E	E	E	E	6
General fund		1,218,345	3,759,668	(3,236,188)	(1,196,727)		545,102
Pension deficit		(2,813,000)		(339,000)		(296,000)	(3,448,000)
Designated funds:
ITdevelopment	fund	39,314			(20,000)		19,314
Project development
fund		50,000					50,000
Property asset
development	fund	95,000					95,000
Grand Pavilion		100,000			100,000		200,000
Maesteg Town Hall		100,000			60,000		160,000
Bryngarw House		100,000					100,000
Fixed asset fund					1,348,166		1,348,166
Covid-19 recovery
fund					300,000		300,000
Sustainable energy
fund					100,000		100,000
		(1,110,341)	3,759,668	(3,575,184)	691,439	(296,000)	(530,418)
Charity
General fund		1,218,344	3,477,892	(2,878,317)	(1,178,112)		639,807
Pension deficit		(2,813,000)		(339,000)		(296,000)	(3,448,000)
Designated funds:
IT development	fund	39,314			(20,000)		19,314
Project development
fund		50,000					50,000
Property asset
development	fund	95,000					95,000
Grand Pavilion		100,000			100,000		200,000
Maesteg Town	Hall	100,000			60,000		160,000
Bryngarw House		100,000					100,000
Fixed asset fund					1,329,551		1,329,551
Covid-19 recovery
fund					300,000		300,000
Sustainable energy
fund					100,000		100,000
		(1,110,342)	3,477,892	(3,217,317)	691,439	(296,000)	(454,328)

					Actuarial
					gains on
					defined
					benefit	Balance at
Garou	Balance at 1April 2019 f	Incomef	Expenditure	Transfersf	pension schemef	31March 2020f
General fund Pension deficit	1,038,383 (1,587,000)	5,435,307	(5,410,350) (432,000)	155,005	(794,000)	1,218,345 (2,813,000)
Designated funds: ITdevelopment fund	39,314					39,314
Project development fund	50,000					50,000
Property asset development fund Grand Pavilion	95,000 100,000					95,000 100,000 100,000
Maesteg Town Hall Bryngarw House	100,000 100,000 (34,303)	3,433,307	(5,842,350)	155,005	(794.00D)	100,000 (1,11D,341)
Charity
General fund Pension deficit	1,039,834 (1,587,000)	4,557,600	(4,534,095) (432,000)	155,005	(794,000)	1,218,344 (2,813,000)
Designated funds: ITdevelopment fund	39,314					39,314
Project development fund	50,000					50,000
Property asset development fund Grand Pavilion	95,000 100,000					95,000 100,000 100,000
Maesteg Town Hall Bryngarw House	100,000 100,000 (62,852)	4,557,600	(4,966,095)	155,005	(794,000)	100000 (1,110,342)

			Unrestricted	Designated	Restricted	Total
Garou			funds	funds	funds	2021
				E	f	f
Fixed and intangible		assets		1,348,166		1,348,166
Current	assets		2,617,406	1,024,314	714,592	4,356,$12
Current	liabilities		(1,954/27)			(1,954,427)
Creditors due &1year			(117,877)			(117,877)
Pension	deficit		($,448,000)			(3,448,000)
			(2,902,898)	2,372,480	714,592	184,174
Charity
Fixed and intangible		assets		1,329,550		1,$29,550
Investments				1		1
Current	assets		2,275,289	1,024,314	714,592	4,014,195
Current	liabilities		(1,635,482)			(1,635,482)
Pension	deficit		(3,448,000)			(3,448,000)
			(2,808,193)	2,353,865	714,592	260,264
				Unrestncted	Restricted	Total
Garou				funds E	funds E	2020f
Fixed and intangible		assets		682,094		682,094
Current	assets			2,732,067	597,573	3,329,640
Current	liabilities			(1,641,917)		(1,641,917)
Creditors	due &1year			(69,585)		(69,585)
Pension	deficit			(2,813,000)		(2,813,000)
				(1,110,341)	597,573	(512,768)
Charity
Fixed assets				659,218		659,218
Investments				1		1
Current	assets			2,513,017	597,573	3,110,590
Current	liabilities			(1,469,578)		(1,469,578)
Pension	deficit			(2,813,000)		(2,813,000)
				(1,110,342)	597,573	(512,769)

The following operating leases were in place as at	31March 2021:
	Total	Total
G~dCh	2021f	2020f
Due less than one year	1,500	1,500
	1,500	1,500

RECONCILIATION OF NET MCIVEMENT IN FUNDS TO NET CASH FLOW	RECONCILIATION OF NET MCIVEMENT IN FUNDS TO NET CASH FLOW	RECONCILIATION OF NET MCIVEMENT IN FUNDS TO NET CASH FLOW	RECONCILIATION OF NET MCIVEMENT IN FUNDS TO NET CASH FLOW	FROM OPERATING	FROM OPERATING
ACTIVITIES
~Grou				2021f	2020 f
Net income forthe	reporting		period	696,942	(472,654)
Adjustments for:
Depreciation charges				148,897	105,709
Amortisation				2,837	1,422
(Increase)/decrease		in stocks		11,765	21
(increase)/decrease		in debtors		186,962	620,665
Increase/(decrease)		in creditors		995,802	1,342,309
Dividends, interest	and rents from investments			(19,637)	(19,637)
(Gains)/loss on disposal				5,835
Net cash provided	by operating activities			2,029,403	1,577,835
Anal sis ofCash and		Cash E uivalents
Cash in hand				4,137,066	2,911,667
Total Cash and Cash		Equivalents		4,137,066	2,911,667
Anal sisofchan esinnetdebt
			At 1April	Cash-flows	Asat31
			2020		March 2021
			f
Cash			2,911,667	1,225,399	4,137,066
Other loans falling Other loans falling	due & more than 1 year due)1year			(2,500) (32,120)	(2,500) (32,120)
			2,911,667	1,190,779	4,102,446

Date ofthe last full actuarial	Date ofthe last full actuarial	valuations	valuations	ofthe employei's	LGPS	funded benefits	31March 2019	31March 2019
Expected employer	contributions		next	year (fM)			0.214
Duration ofliabilities							25.3years
Key assumptions				31March	2021	31Nlarch 2020	31March	2019
					%pa	%pa		%pa
Discount rate					2.10	2.30		2.50
RPI Inflation								3.20
CPI Inflation					2.60	1.90		2.10
Pension increases					2.60	1.90		2.10
Pension accounts revaluation		rate			2.60	1.90		2.10
Salary increases					3.85	3.15		3.35

					31March 2021	31March 2020	31March 2020
Males
Member	aged 65at accounting	date			21.8		21.7
Member	aged 45at accounting	date			22.8		22.7
Females
Member	aged 65at accounting	date			24.1		24.0
Member	aged 45at accounting	date			25.6		25.5
		Value	at31March	2021	Value at31	March	2020
Asset allocation.				(fM)			(fM)
Equities			72.5	8.654	68.1		5.968
Property			6.3	0.752	7.5		0.657
Government bonds			8.3	0.991	11.4		0.999
Corporate	bonds		12.3	1.468	11.8		1.034
Cash			0.6	0.072	1.2		0.105
Other			0.00	0.000	0.0		0.000
		100.0		11.937	100.0		8.763

Reconciliation of'funded	status tobalance sheet	Value at	Value at
		Sit March 2021	31March 2020
		—(EM)	(EM)
Fair value ofassets		11.937	8.763
Present value offunded	defined benefit obligation	15.385	11.576
Funded status		(3.448)	(2.813)
Asset/(liability) recognised on the balance sheet		(3.448)	(2.813)

Active members	83N
Deferred Pensioners	7SS
Pensioners	109fi

Amounts recognised		in income'statement	in income'statement	in income'statement			Period ending	Period ending
							31March 8021	31March 2020
							'(EM)	(Elyi)
Operating cost
Current service cost							0.482	0.536
Past service cost							0.000	0.136
Curtailment cost							0.054
Financing cost Interest on net defined benefit liability/(asset)							0.063	0.037
Pension expense recognised				in profit and loss			0.599	0.709
Allowance for administration				expenses included		in Current	0.007	0.007
Service Cost
Amounts recognised		in other comprehensive			income		Pedod ending	Period ending
							31March 2021	31March 2020
							(EM)	(EM)
Asset gains/(losses)	arising		during the period				2.725	(0.102)
Liability gains/(losses)		arising		during the period			(3.021)	(0.692)
Total amount recognised			in	other comprehensive		income	(0.296)	(0.794)

Changes tothe present value	Changes tothe present value	ofthe defined benefit	Period ending	Period ending
obligation			31March 2021	31March 2020
			(EM)	(EM)
Opening defined	benefit obligation		11.576	9.998
Current service cost			0.482	0.536
Interest expense	on defined benefit obligation		0.267	0.250
Contributions by	participants		0.095	0.099
Actuarial (gains)/losses on liabilities			3.021	0.692
Net benefits paid	out		(0.110)	(0.135)
Past service cost			0.000	0.136
Curtailment cost			0.054
Closing defined benefit obligation			15.3&5	11.576
Changes tothe fair value ofassets			ti'cried ending	'peiiod ending
			31March 2021	31March 2020
			(EM)	(EM)
Opening fair value ofassets			8.763	8.411
Interest income on assets			0.204	0.213
Re-measurement	gains/(losses)	on assets	2.725	(0.102)
Contributions by	the employer		0.260	0.277
Contributions by	participants		0.095	0.099
Net benefits paid	out		(0.110)	(0.135)
Closing fair value	ofassets		11.937	8.763

Actual return on assets	Period ending':	Periodondihg
	31March 2821-,	.31March 2020
	(EM).	(EM)
Interestincome on assets	0.204	0.213
Gain/(loss) on assets	2.725	(0.102)
Actual return on assets	2.929	0.111

Analysis ofamount charged to profit and loss	Analysis ofamount charged to profit and loss		Period ending 31March 2022
			(EM)
Current service cost			0.678
Interest on net defined	benefit liability		0.070
Total estimated pension	expense		0.748
Allowance for administration expenses included		in Current Service Cost	0.007
Estimated pensionable	payroll over the period		1A47

OMPARATIVE STATEME	NT	OF FINANCIAL ACT	IVITIES
					Total
			Unrestricted	Restricted	funds
~Grou			funds	funds	2020
			E	E	E
Income and endowments		from:
Donations and legacies			10,644		10,644
Charitable activities			4,308,943	888,796	5,197,739
Investment income			19,637		19,637
Other trading activities			1,096,083		1,096,083
Total income and endowments			5,435,307	888,796	6,324,103
Expenditure on:
Charitable activities			4,966,095	160,407	5,126,502
Awen Trading Limited			876,255		876,255
Total expenditure			5,842,350	160,407	6,002,757
Net income			(407,043)	728,389	321,346
Transfers between funds			155,005	(155,005)
Other recognised losses:
Actuarial (losses)/gains	on	defined benefit
pension schemes			(794,000)		(794,000)
Net movement infunds			(1,046,038)	573,384	(472,654)
Reconciliation ofFunds
Total funds brought forward			(64,303)	24,189	(40,114)
Totalfunds carried forward			(1,110,341)	597,573	(512,768)

					Total
			Unrestricted	Restricted	funds
Charity			funds	funds	2020
			E	E	E
Income and endowments		from:
Donations and legacies			31,708		31,708
Charitable activities			4,506,255	888,796	5,395,051
Investment income			19,637		19,637
Totalincome and endowments			4,557,600	888,796	5,446,396
Expenditure on:
Charitable activities			4,966,095	160,407	5,126,502
Total expenditure			4,966,095	160,407	5,126,502
Net income			(408,495)	728,389	319,894
Transfers between funds			155,005	(155,005)
Other recognised losses:
Actuarial (losses)/gains	on	defined benefit
pension schemes			(794,000)		(794,000)
Net movementin funds			(1,047,490)	573,384	(474,106)
Reconciliation ofFunds
Total funds brought forward			(62,852)	24,189	(38,663)
Totalfunds carried forward			(1,110,342)	597,573	(512,769)