##
|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|
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|||||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|
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##
||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|
|13.|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|
##
|21.|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)|