2022-03-31-accounts - Awen Cultural Trust

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Report ofthe Trustees incorporating	the Strategic Report	1-18
Report ofthe Independent Auditors		19-22
Statement of Financial Activities		23-24
Balance Sheet		25-26
Statement ofCash Flows		27
Notes to Financial Statements		28-58

Name:		Awen Cultural	Trust
Charity number:		1166908
Company	number:	09610991
Registered	Office:	Stable Offices,	Bryngarw	Park, Brynmenyn,	Bridgend, CF32 BUU
Advisers
Auditors:		Azets Audit Services, Ty		Derw, Lime Tree Court, Cardiff			Gate Business Park, CF23 BAB
Bankers:		Barclays Bank,	1-6 Pocketts Wharf, Maritime			Quarter,	Swansea, SA1 3XL
Solicitors:		Blake Morgan,	One Central Square, Cardiff,			CF101FS

Trustees'	and Directors	and Directors
Chair:				A R J Morgan
Bridgend	County Borough			Cllr. J H Tildesley	MBE —resigned		1/6/22
Council	nominees:			Cllr. J McCarthy	—resigned	1/6/22
Elected trustees:				P D Lees
				P D Roberts
				W JCampion
				M A Griffiths
				LThomas
				E Wilson
				A Plowright
Staff trustee:				Vacant
Company	Secretary:			D R Hughes
Ke mana ement		rsonneh
Senior managers of		Awen Cultural		Trust:
Chief Executive Officer				Richard Hughes
Director	ofOperations			Richard Bellinger
Director	of Business	Development		Ceri Evans
Head of	Finance			Maria Goddard
Senior management		personnel	of	Awen Trading Ltd:

Chief Executive Officer	Richard Hughes
Director of Business Development	Ceri Evans

					Total	Total
			Unrestricted	Restricted	funds	funds
		Note	funds	funds	2022	2021
			E	E	f	E
Income and endowments	from:
Donations and legacies		3	4,186		4,186	5,024
Charitable activities		4	4,026,962	786,536	4,813,498	4,907,323
Investment income		5	9,285		9,285	17,043
Other trading activities		11	1,055,633		1,055,633	321,243
Total income and endowments			5,096,066	7&6,536	5,882,602	5,250,633
Expenditure on:
Charitable activities			4,482,588	473,814	4,956,402	3,899,824
Awen Trading Limited			875,601		875,601	357,867
Total expenditure			5,358,189	473,814	5,832,003	4,257,691
Net income			(262,123)	312,722	50,599	992,942
Transfers between funds		16,17	391,177	(391,177)
Other recognised losses:
Actuarial (losses) on defined
benefit pension schemes		17,22	1,090,000		1,090,000	(296,000)
Net movement infunds			1,219,054	(78,455)	1,140,599	696,942
Reconciliation of Funds
Total funds brought forward		16,17	(530,418)	714,592	184,174	(512,768)
Totalfunds carried forward		18	688,636	636,137	1,324,773	184,174

					Total	Total
			Unrestricted	Restricted	funds	funds
			funds	funds	2022	2021
		Note
Income and endowments	from:
Donations and legacies			4,186		4,186	5,024
Charitable activities			4,166,199	786,536	4,952,735	4,946,790
Investment income			9,285		9,285	17,043
Totalincome and endowments			4,179,670	786,536	4,966,206	4,968,857
Expenditure on:
Charitable activities		6	4,482,588	473,814	4,956,402	3,899,824
Total expenditure			4,482,588	473,814	4,956,402	3,899,824
Net income			(302,918)	312,722	9,804	1,069,033
Transfers between funds		16,17	391,177	(391,177)
Other recognised losses:
Actuarial (losses) on defined
benefit pension schemes		17,22	1,090,000		1,090,000	(296,000)
Net movementin funds			1,178,259	(78,455)	1,099,804	773,033
Reconciliation of Funds
Total funds brought forward		16,17	(454,328)	714,592	260,264	(512,769)
Total funds carried forward		18	723,931	636,137	1,360,068	260,264

		AS AT31	MARCH 2022
			2022		2021
		Note
Fixed assets:
Tangible assets		9		1,668,686		1,338,402
Intangible assets		10		6,927		9,764
				1,675,613		1,348,166
Current assets:
Stocks			43,259		19,329
Debtors		12	238,150		199,917
Cash at bank and in	hand		4,586,459		4,137,066
			4,867,868		4,356,312
Liabilities:
Creditors: Amounts	falling due within
one year		13	(2,236,274)		(1,954,427)
Net current assets				2,631,594		2,401,885
Total assets less current liabi%ties				4,307,207		3,750,051
Creditors: Amounts	falling due after
more than one year		14		(164,434)		(117,877)
Net assets excluding	pension liabi%ty			4,142,773		3,632,174
Defined benefit pension scheme liability		22		(2,818,000)		(3,448,000)
Total net liabilities				1,324,773		184,174
The funds ofthe group:
Restricted income funds		16		636,137		714,592
Unrestricted funds
General fund		17	561,709		545,102
Designated fund		17	2,944,927		2,372,480
Pension reserve		22	(2,818,000)		(3,448,000)
				688,636		(530,418)
Total group funds				1,324,773		184,174

			AS AT31	MARCH 2022
				2022		2021
			Note
Fixed assets:
Tangible assets			9		1,524,595		1,323,890
Intangible assets			10		4,245		5,660
Investments			11		1		1
					1,528,841		1,329,551
Current assets:
Stocks				13,304		10,117
Debtors			12	281,127		222,136
Cash at bank and in	hand			4,318,250		3,781,942
				4,612,681		4,014,195
Liabilities:
Creditors: Amounts	falling due	within
one year			13	(1,963,454)		(1,635,482)
Net current assets					2,649,227		2,378,713
Net assets excluding	pension	liabi%tlr			4,178,068		3,708,264
Defined benefit pension scheme liability			22		(2,818,000)		(3,448,000)
Total net liabilities					1,360,068		260,264
The funds ofthe charity:
Restricted income funds			16		636,137		714,592
Unrestricted funds
General fund			17	743,776		639,807
Designated fund			17	2,798,155		2,353,865
Pension reserve			22	(2,818,000)		(3,448,000)
					723,931		(454,328)
Total charity funds					1,360,068		260,264

					Note	2022	2021
						E	E
Net cash provided by operating activities					22	1,022,024	1,997,376
Cash flows frominvesting activities:
Dividends, interest and rents from investments					5	9,285	17,043
Purchase of property plant and equipment					9	(622,344)	(816,566)
Purchase of intangible assets					10		(7,075)
Net cash used in investing activities						(613,059)	(806,598)
Cash jllows from financing activities:
Repayments of borrowing						(1,602)
Cash inflows from new borrowing						42,030	34,620
Net cash used in investing activities						40,428	34,620
Change in cash and cash equivalents	in the	reporting	period			449,393	1,225,398
Cash and cash equivalents at the beginning		ofthe reporting		period	22	4,137,066	2,911,667
Cash and cash equivalents at the end	ofthe reporting		period		22	4,586,459	4,137,066

	Unrestricted	Restricted	Total	Total
	funds	funds	2022	2021
~Grou	E	E	E	E
Donations	4,186		4,186	5,024
	4,186		4,186	5,024
Charity
Donations	4,186		4,186	5,024
	4,186		4,186	5,024

			Unrestricted	Restricted	Total	Total
			funds	funds	2022	2021
~Grou			E	E	E	E
Contract income			24,615		24,615	58,542
Grants			40,301	786,536	826,837	1,663,435
Hire and rental income			72,131		72,131	9,821
Library income			10,293		10,293	3,463
Management	fee		3,304,342		3,304,342	3,062,890
Membership			450		450	330
Car park income			79,892		79,892	35,857
Sundry			59,417		59,417	46,194
Sale ofgoods			76,405		76,405	23,958
Ticket sales			359,116		359,116	2,833
			4,026,962	786,536	4,813,498	4,907,323
Grants include:
Architectural	Heritage			5,000	5,000
Arts Council	ofWales —Various			227,865	227,865	275,558
BAVO			7,922		7,922	(180j
Books4U			28,725		28,725	2,338
Bridgend County Borough Council				296,665	296,665	162,148
Cardiff City	Borough	Council	2,654		2,654
Estyn Allan						5,000
Garfield Weston						111,029
HMRC Coronavirus		Job retention
Scheme				3,390	3,390	483,008
KCooks			1,000		1,000
Maesteg Town Council						40,000
Porthcawl Town Council						10,000
Purcell				12,000	12,000
VOL				30,878	30,878
Welsh Government				210,738	210,738	574,534
			40,301	786,536	826,837	1,663,435
					Total	Total
					2022	2021
						f
Income is attributable to:
Parks and work based projects					517,884	382,098
Central					3,279,918	3,490,070
Community	centres				17,637	17,637
Libraries					354,767	354,767
Venues					1,709,696	1,006,061
					5,882,602	5,250,633

		Unrestricted	Restricted	Total	Total
		funds	funds	2022	2021
Charity		E			E
Contract income		41,968		41,968	98,009
Grants		40,301	786,536	826,837	1,663,435
Hire and rental income		182,075		182,075	9,821
Library income		10,293		10,293	3,463
Management fee		3,304,342		3,304,342	3,062,890
Membership		450		450	330
Car park income		79,892		79,892	35,857
Sundry		71,357		71,357	46,194
Sale ofgoods		76,405		76,405	23,958
Ticket sales		359,116		359,116	2,833
		4,166,199	786,536	4,952,735	4,946,790
Grants include:
Architect ura I Heritage			5,000	5,000
Arts Council ofWales —Various			227,865	227,865	275,558
BAVO		7,922		7,922	(180)
Books4U		28,725		28,725	2,338
Bridgend County Borough Council			296,665	296,665	162,148
Cardiff City Borough	Council	2,654		2,654
Estyn Allan					5,000
Garfield Weston					111,029
HMRC Coronavirus	Job retention
Scheme			3,390	3,390	483,008
KCooks		1,000		1,000
Maesteg Town Council					40,000
Porthcawl Town Council					10,000
Purcell			12,000	12,000
VOL			30,878	30,878
Welsh Government			210,738	210,738	574,534
		40,301	786,536	826,837	1,663,435
				Total	Total
				2022	2021
				E	f
Income is attributable to:
Parks and work based projects				517,884	382,098
Central				3,279,918	3,251,235
Community centres				17,637	17,637
Libraries				354,767	354,767
Venues				796,000	963,120
				4,966,206	4,968,857

					Total	Total
~Grou					2022	2021
					E	E
Expenditure		is	attributable	to:
Arts and youth						84,859
Parks and work			based projects		634,192	631,525
Central					1,435,834	1,279,052
Community	centres				83,087	83,087
Libraries					1,250,812	1,250,812
Venues					1,552,477	570,489
Awen Trading		Limited			875,601	357,867
					5,832,003	4,257,691
Charity
Expenditure		is	attributable	to:
Arts and youth						84,859
Parks and work			based projects		634,192	631,525
Central					1,435,834	1,279,052
Community	centres				83,087	83,087
Libraries					1,250,812	1,250,812
Venues					1,552,477	570,489
					4,956,402	3,899,824

~dd	h	2022 E	2021 E
Bridgend	Youth Theatre	13333
It's My Shout -Short Film Training Scheme		15,000	10,000
		28,333	10,000

	Total	Total
	2022	2021
~Grou	E	E
Wages and salaries	2,643,665	2,461,521
Sociai security costs	207,618	181,437
Defined benefit pension costs	570,000	536,000
Other pension costs	80,974	6,375
	3,502,257	3,185,333
	Total	Total
	2022	2021
Charity	E	E
Wages and salaries	2,175,729	2,185,038
Social security costs	182,287	162,211
Defined benefit pension costs	570,000	536,000
Other pension costs	68,760
	2,996,776	2,883,249

	Total	Total
~Gd Ct	2022 E	2021 E
E60,000 - E69,999
E70,000-f79,999
E80,000 —E89,999

		2022	2021
		No.	No.
Park and work based projects		14	14
Centra	I	19	18
Libraries		57	57
Venues		55	53
		145	142

	2022	2021
	No.	No.
Park and work based projects	12	13
Central	19	16
Libraries	33	34
Venues	11	13
	75	74

ANGIBLE FIXEDASSETS
		Property
~Grou	Equipment f	improvements	Motor f	Total f
Cost
At 1April 2021	514,594	1,092,725	40,662	1,647,981
Additions	267,980	329,629	24,735	622,344
At 31March 2022	782,574	1,422,354	65,397	2,270,325
Depreciation
At 1April 2021	179,650	105,126	24,803	309,579
Charge for the year	108,934	170,625	12,501	292,060
At 31March 2022	288,584	275,751	37,304	601,639
Net book value
At 31March 2022	493,990	1,146,603	28,093	1,668,686
At 31March 2021	334,944	987,599	15,859	1,338,402
		Property
Charity	Equipment f	improvements f	Motor	Total f
Cost
At 1April 2021	490,210	1,092,725	40,662	1,623,597
Additions	215,943	232,449	24,735	473,127
At 31March 2022	706,153	1,325,174	65,397	2,096,724
Depreciation
At 1April 2021	169,778	105,126	24,803	299,707
Charge for the year	96,266	163,655	12,501	272,422
At 31March 2022	266,044	268,781	37,304	572,129
Net book value
At 31March 2022	440,109	1,056,393	28,093	1,524,595
At 31March 2021	320,432	987,599	15,859	1,323,890

NTANGIBLE FIXEDASSETS
	Website
~Grou	costs	Total
	E	E
Cost
At 1April 2021	14,185	14,185
At 31March 2022	14,185	14,185
Depreciation
At 1April 2021	4,421	4,421
Charge for the year	2,837	2,837
At 31March 2022	7,258	7,258
Net book value
At 31March 2022	6,927	6,927
At 31March 2021	9,764	9,764
Charity
Cost
At 1April 2021	7,075	7,075
At 31March 2022	7,075	7,075
Depreciation
At 1April 2021	1,415	1,415
Charge for the year	1,415	1,415
At 31March 2022	2,830	2,830
Net book value
At 31March 2022	4,245	4p245
At 31March 2021	5,660	5,660

		2022	2022	2021	2021
		E	E	f	f
Profit and Loss Account
Turnover			1,055,633		321,243
Administrative expenses			(1,014,835)		(397,332)
Operating profit/ (loss)			40'798		(76,089)
Statement ofChanges	in Equity
Balance brought forward			(76,089)
Profit/(loss) and total comprehensive
income for the period			40,798		(76,089)
Balance carried forward			(35,291)		(76,089)
Balance Sheet
Fixed assets:
Tangible assets			144,091		14,512
Intangible assets			2,682		4,104
			146,773		18,616
Current assets:
Stock		29,959		9,211
Debtors		67,529		316
Cash at bank and in hand		268,209		355,124
		365,697		364,651
Current liabilities:
Trade creditors		47,168		2,472
Amount due to parent		47,923		22,535
Taxation and Social security		5,957		23,144
Other creditors		282,278		293,327
		383,326		341,478
Net current assets			(17,629)		23,173
Totai assets less current liabilities			129,144		41,789
Creditors: amounts falling due after
more than one year			164,434		(117,877)
Net assets/ (liabilities)			(35,290)		(76,088)
Capital and Reserves:
Called up share capital			1		1
Profit and loss reserves			(35,291)		(76,089)
			(35,290)		(76,088)

DEBTORS
			Total	Total
			2022	2021
~Grou			E	E
Trade debtors			150,457	84,666
Prepayments	and accrued income		87,492	115,130
Other debtors			201	121
			238,150	199,917
Charity
Trade debtors			149,159	84,570
Amounts owed by group undertakings			47,923	22,535
Prepayments	and accrued income		83,844	114,910
Other debtors			201	121
			281,127	222,136
CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
			Total	Total
			2022	2021
~Grou			E	E
Trade creditors			277,006	168,257
Accruals			372,844	279,049
Deferred income			1,375,900	1,214,882
Taxation and	social security		133,774	249,217
Other creditors			65,641	40,522
Loan			11,109	2,500
			2,236,274	1,954,427
Charity
Trade creditors			229,838	165,785
Accruals and deferred		income	333,264	277,282
Deferred income			1,144,311	928,993
Taxation and	social security		190,400	227,221
Other creditors			65,641	36,201
			1,963,454	1,635,482

			2022	2021
~Grou				E
WCVA Loan			63,939	32,120
Deferred	income		100,495	85,757
			164,434	117,877
			2022	2021
Grou - loans		due in &1 ear	E	E
Amounts	due	2-5 years	52,545	17,922
Amounts	due	&5years	11,394	14,198
			63,939	32,120

					2022	2021
Grou	-	deferred	income due in &1	ar	f	E
Amounts		due 2-5	years		100,495	85,757
					100,495	85,757

		Ticket sales	Grant	Manage-	Catering &	Total	Total
			income	ment fee	wedding	2022	2021
					income
~Grou			E	E	E
Balances as at 1	April
2021		152,331		771,083	377,225	1,300,639	1,134,097
Income received	in the
year		372,161	924,204	3,411,824	(915,698)	3,792,491	3,266,614
Released to income		(359,116)	(826,837)	(3,304,342)	873,560	(3,616,735)	(3,100,072)
Balance as at 31 2022	March	165,376	97,367	878,565	335,087	1,476,395	1,300,639
		Ticket sales	Grant	Manage-	Catering Ik	Total	Tota I
			income	ment fee	wedding	2022	2021
					income
Charity					f
Balances as at 1	April
2021		152,331		771,083	5,579	928,993	950,533
Income received	in the
year		372,161	924,204	3,411,824	179,499	4,887,688	3,079,105
Released to income		(359,116)	(826,837)	(3,304,342)	(182,075)	(4,672,370)	(3,100,645)
Balance as at 31 2022	March	165,376	97,367	878,565	3,003	1,144,311	928,993

RESTRICTED FUNDS
			As at				Balance at
			1April				31March
G~ddd			2021	Income f	Expenditure f	Transfers f	2022 f
Architectural Heritage		Fund		5,000	(5,000)
Arts Council ofWales—
Various			31,847	227,865	(216,045)	(43,667)
Bridgend County Borough
Council			72,716	296,665	(229,679)	(34,202)	105,500
Garfield Weston			311,029			(111,029)	200,000
HMRC Coronavirus	Job
Retention Scheme				3,390	(3,390)
Maesteg Town Council			40,000				40,000
Millennium Stadium	Trust		7,500			(7,500)
Oakdale Trust			1,500				1,500
Purcell				12,000	(12,000)
VOL				30,878		(30,878)
Welsh Government			250,000	210,738	(7,700)	(163,901)	289,137
			714,592	786,536	(473,814)	(391,177)	636,137

		As at				Balance at
		1April				31March
~6d Ch		2020	Income E	Expenditure E	Transfers E	2021 E
Arts Council ofWales—
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			5,000	(5,000)
Garfield Weston		200,000	111,029			311,029
HMRC Coronavirus	Job
Retention Scheme			483,008	(483,008)
Maesteg Town Council			40,000			40,000
Millennium Stadium	Trust	7,500				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

						Actuarial
						losses on
						defined
		Balance at				benefit	Balance at
		1April				pension	31March
~Grou		2021 f	Income	Expenditure f	Transfers	scheme E	2022f
General fund		545,102	5,096,066	(4,418,292)	(661,167)		561,709
Pension deficit		(3,448,000)		(460,000)		1,090,000	(2,818,000)
Designated funds:
ITdevelopment	fund	19,314					19,314
Project development
fund		50,000					50,000
Property asset
development	fund	95,000					95,000
Grand Pavilion		200,000					200,000
Maesteg Town Hall		160,000					160,000
Bryngarw House		100,000			50,000		150,000
Fixed asset fund		1,348,166		(294,897)	622,344		1,675,613
Covid-19 recovery
fund		300,000		(150,000)			150,000
Sustainable energy
fund		100,000		(35,000)			65,000
Job Evaluation					100,000		100,000
8-Leaf					280,000		280,000
		(530,418)	5,096,066	(5,358,189)	391,177	1,090,000	68&,636
Charity
General fund		639,807	4,179,670	(3,563,751)	(511,950)		743,776
Pension deficit		(3,448,000)		(460,000)		1,090,000	(2,818,000)
Designated funds:
ITdevelopment	fund	19,314					19,314
Project development
fund		50,000					50,000
Property asset
development	fund	95,000					95,000
Grand Pavilion		200,000					200,000
Maesteg Town Hall		160,000					160,000
Bryngarw House		100,000			50,000		150,000
Fixed asset fund		1,329,551		(273,837)	473,127		1,528,841
Covid-19 recovery
fund		300,000		(150,000)			150,000
Sustainable energy
fund		100,000		(35,000)			65,000
iob Evaluation					100,000		100,000
8-Leaf					280,000		280,000
		(454,328)	4,179,670	(4,482,588)	391,177	1,090,000	723,931

						actuarial
						losses on
						defined
		Balance at				benefit	Balance at
		1April				pension	31March
		2020	Income	Expenditure	Transfers	scheme	2021
~Grou		E	E	E	E	E	E
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)
&barite
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:
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					1,329,551		1,329,551
Covid-19 recovery
fund					300,000		300,000
Sustainable energy
fund					100000		100,000
		(1,110,342)	3,477,892	(3,217,317)	691,439	(296,000)	(454,328)

				Unrestricted	Designated	Restricted	Total
~Grou				funds	funds	funds	2022
				E	E	E	f
Fixed and intangible			assets		1,675,613		1,675,613
Current	assets			2,962,417	1,269,314	636,137	4,867,868
Current	liabilities			(2,236,274)			(2,236,274)
Creditors due		&1year		(164,434)			(164,434)
Pension	deficit			(2,818,0001			(2,818,000)
				(2,256,291)	2,944,927	636,137	1,324,773
Charity
Fixed and intangible			assets		1,528,840		1,528,840
Investments					1		1
Current	assets			2,707,230	1,269,314	636,137	4,612,681
Current	liabilities			(1,963,454)			(1,963,454)
Pension	deficit			(2,818,000)			(2,818,000)
				(2,074,224)	2,798,155	636,137	1,360,068
					Unrestricted	Restricted	Total
					funds	funds	2020
~Grou					f	E	E
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 ultimate controlling	The ultimate controlling	The ultimate controlling	party is	party is	the Board ofTrustees and management	the Board ofTrustees and management	the Board ofTrustees and management	the Board ofTrustees and management	team who	are responsible
for the strategic and	operational				decisions ofthe charity.
RECONCILIATION OF		NET MOVEMENT				IN FUNDS TO NET CASH FLOW		FROM OPERATING
ACTIVITIES
~Grou									2022	2021
									f	f
Net income for the	reporting			period					1,140,599	696,942
Adjustments for:
Depreciation charges									292,060	148,897
Amortisation									2,837	2,837
(Increase)/decrease		in	stocks						(23,930)	11,765
(Increase)/decrease		in	debtors						(38,233)	186,962
Increase/(decrease)		in	creditors						(342,024)	961,182
Dividends, interest	and		rents from investments						(9,285)	(17,043)
(Gains)/loss on disposal										5,835
Net cash provided	by operating				activities				1,022,024	1,997,376
Anal isof Cash and		Cash E uivalents
Cash in hand									4,586,459	4,137,066
Total Cash and Cash		Equivalents							4,586,459	4,137,066
Anal sis ofchan es	in net debt
							At 1April	Cash-flows		Asat 31
							2021			March 2022
							f			f
Cash							4,137,066		449,393	4,586,459
Other loans falling due			& more	than 1		year	(2,500)		(8,609)	(11,109)
Other loans falling due			&1year				(32,120)		(31,819)	(63,939)
							4,102,446		408,965	4,511,411

Key assumptions		31March 2022	31March 2021	31March 2020
		96pa	96pa	96pa
Discount rate		2.70	2.10	2.30
CPI Inflation		2.90	2.60	1.90
Pension increases		2.90	2.60	1.90
Pension accounts revaluation	rate	2.90	2.60	1.90
Salary increases		4.15	3.85	3.15

						31March 2022	31March 2021
Males
Member aged		65at accounting	date			21.6	21.8
Member aged		45at accounting	date			22.6	22.8
Females
Member aged		65 at accounting	date			23.9	24.1
Member aged		45at accounting	date			25.4	25.6
			Value	at 31March 2022		Value at 31	March 2021
Asset allocation				96	(EM)	96	(EM)
Equities				67.5	8.091	72.5	8.654
Property				0.0	0.000	6.3	0.752
Government	bonds			11.6	1.391	8.3	0.991
Corporate bonds				12.7	1.523	12.3	1.468
Multi asset	credit			7.3	0.875	0.0
Cash				0.6	0.072	0.6	0.072
Other				0.3	0.036	0.00	0.000
			100.0		11.988	100.0	11.937

Reconciliation	offunded status to balance sheet	offunded status to balance sheet	Value at	Value at
			31March 2022	31March 2021
			(EM)	(EM}
Fair value ofassets			11.988	11.937
Present value	offunded defined benefit obligation		14.806	15.385
Funded status			(2.818)	(3448)
Asset/(liability)	recognised	on the balance sheet	(2.818)	(3A48)

Active members				83Yo
Deferred Pensioners				7%
Pensioners				10Yo
Amounts recognised		in income statement						Period ending	Period ending
								31March 2022	31March 2021
								(EM)	(EM)
Operating cost
Current service cost								0.570	0.482
Past service cost								0.000	0.000
Curtailment cost								0.000	0.054
Financing cost
Interest on net defined benefit liability/(asset)								0.071	0.063
Pension expense recognised				in profit and loss				0.641	0.599
Allowance for administration Service Cost				expenses	included		in Current	0.006	0.007
Amounts recognised		in other comprehensive				income		Period ending	Period ending
								31March 2022	31March 2021
								(EM)	(EM}
Asset gains/(losses)	arising		during the period					(0.233)	2.725
Liability gains/(losses)		arising		during the	period			1.323	(3.021)
Total amount recognised			in	other comprehensive			income	1.090	(0.296)

Changes tothe present	Changes tothe present	value ofthe defined benefit	Period ending	Penod ending
obligation			31March 2022	31March 2021
			(EM)	(EM)
Opening defined	benefit	obligation	15.385	11.576
Current service cost			0.570	0.482
Interest expense	on defined benefit obligation		0.322	0.267
Contributions by	participants		0.086	0.095
Actuarial (gains)/losses		on liabilities	(1.323)	3.021
Net benefits paid	out		(0.234)	(0.110)
Past service cost			0.000	0.000
Curtailment cost			0.000	0.054
Closing defined benefit		obligation	14.806	15.385

Changes tothe fair value ofassets	Changes tothe fair value ofassets	Period ending	Period ending
		31March 2022	31March 2021
		(EM)	(EM)
Opening fair value ofassets		11.937	8.763
Interest income on assets		0.251	0.204
Re-measurement gains/(losses)	on assets	(0.233)	2.725
Contributions by the employer		0.181	0.260
Contributions by participants		0.086	0.095
Net benefits paid out		(0.234)	(0.110)
Closing fair value ofassets		11.988	11.937

Actual return	on assets	Period ending	Period ending
		31March 2022	31March 2021
		(EM)	(EM)
Interest income on assets		0.251	0.204
Gain/(loss) on assets		(0.233)	2.725
Actual return	on assets	0.018	2.929

Analysis ofamount charged	Analysis ofamount charged	to profit and loss	to profit and loss	to profit and loss			Period ending
							31March 2022
							(EM).
Current service cost							0.532
Interest on net defined	benefit		liability				0.074
Total estimated pension	expense						0.606
Allowance for administration		expenses		included	in Current Service	Cost	0.006
Estimated pensionable	payroll over the			period			1.275
COMPARATIVE STATEMENT OF			FINANCIAL ACTIVITIES
							Tota I
					Unrestricted	Restricted	funds
~6rou					funds	funds	2021
					E	E	f
Income and endowments	from:
Donations and legacies Charitable activities					5,024 3,416,358	1,490,965	5,024 4,907,323
Investment income Other trading activities					17,043 321,243		17,043 321,243
Totalincome and endowments					3,759,668	1,490,965	5,250,633
Expenditure on:
Charitable activities					3,217,317	682,507	3,899,824
Awen Trading Limited					357,867		357,867
Total expenditure					3,575,184	682,507	4,257,691
Netincome					184,484	808,458	992,942
Transfers between funds					691,439	(691,439)
Other recognised losses:
Actuarial (losses) on defined benefit pension
schemes					(296,000)		(296,000)
Net movementin funds					579,923	117,019	696,942
Reconciliation of Funds
Total funds brought forward					(1,110,341)	597,573	(512,768)
Totalfunds carried forward					(530,418)	714,592	184,174

COMPARATIVE STATEME	NT OF FINANCIAL ACT	IVITIES (continued)
				Total
		Unrestricted	Restricted	funds
Charity		funds	funds	2021
		E	E	E
Income and endowments	from:
Donations and legacies Charitable activities		5,024 3,455,825	1,490,965	5,024 4,946,790
Investment income		17,043		17,043
Total income and endowments		3,477,892	1,490,965	4,968,857
Expenditure on:
Charitable activities		3,217,317	682,507	3,899,824
Total expenditure		3,217,317	682,507	3,899,824
Netincome		260,575	808,458	1,069,033
Transfers between funds		691,439	(691,439)
Other recognised losses:
Actuarial (losses) on defined benefit pension schemes		(296,000)		(296,000)
Net movementin funds		656,014	117,019	773,033
Reconciliation of Funds
Total funds brought forward		(1,110,342)	597,573	(512,769)
Total funds carried forward		(454,328)	714,592	260,264