## 

|Report ofthe Trustees incorporating|the Strategic Report|1-18|
|---|---|---|
|Report ofthe Independent<br>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<br>mana<br>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<br>and legacies||3|4,186||4,186|5,024|
|Charitable<br>activities||4|4,026,962|786,536|4,813,498|4,907,323|
|Investment<br>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<br>on:|||||||
|Charitable<br>activities|||4,482,588|473,814|4,956,402|3,899,824|
|Awen Trading<br>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<br>(losses) on defined|||||||
|benefit pension<br>schemes||17,22|1,090,000||1,090,000|(296,000)|
|Net movement<br>infunds|||1,219,054|(78,455)|1,140,599|696,942|
|Reconciliation<br>of Funds|||||||
|Total funds brought<br>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<br>and legacies|||4,186||4,186|5,024|
|Charitable<br>activities|||4,166,199|786,536|4,952,735|4,946,790|
|Investment<br>income|||9,285||9,285|17,043|
|Totalincome and endowments|||4,179,670|786,536|4,966,206|4,968,857|
|Expenditure<br>on:|||||||
|Charitable<br>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<br>(losses) on defined|||||||
|benefit pension schemes||17,22|1,090,000||1,090,000|(296,000)|
|Net movementin<br>funds|||1,178,259|(78,455)|1,099,804|773,033|
|Reconciliation<br>of Funds|||||||
|Total funds brought<br>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<br>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<br>income funds||16||636,137||714,592|
|Unrestricted<br>funds|||||||
|General fund||17|561,709||545,102||
|Designated<br>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<br>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<br>funds||||||||
|General fund|||17|743,776||639,807||
|Designated<br>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<br>by operating<br>activities|||||22|1,022,024|1,997,376|
|Cash flows frominvesting<br>activities:||||||||
|Dividends,<br>interest and rents from investments|||||5|9,285|17,043|
|Purchase of property<br>plant and equipment|||||9|(622,344)|(816,566)|
|Purchase of intangible<br>assets|||||10||(7,075)|
|Net cash used in investing<br>activities||||||(613,059)|(806,598)|
|Cash jllows from financing activities:||||||||
|Repayments<br>of borrowing||||||(1,602)||
|Cash inflows from new borrowing||||||42,030|34,620|
|Net cash used in investing<br>activities||||||40,428|34,620|
|Change<br>in cash and cash equivalents|in the|reporting|period|||449,393|1,225,398|
|Cash and cash equivalents<br>at the beginning||ofthe reporting||period|22|4,137,066|2,911,667|
|Cash and cash equivalents<br>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<br>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<br>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<br>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<br>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<br>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<br>to:||||||
|Parks and work based projects||||517,884|382,098|
|Central||||3,279,918|3,251,235|
|Community<br>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<br>E|2021<br>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<br>E|2021<br>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<br>f|improvements|Motor<br>f|Total<br>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<br>f|improvements<br>f|Motor|Total<br>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<br>expenses|||(1,014,835)||(397,332)|
|Operating<br>profit/ (loss)|||40'798||(76,089)|
|Statement ofChanges|in Equity|||||
|Balance brought<br>forward|||(76,089)|||
|Profit/(loss)<br>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<br>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<br>liabilities:||||||
|Trade creditors||47,168||2,472||
|Amount<br>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<br>falling due after||||||
|more than one year|||164,434||(117,877)|
|Net assets/<br>(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<br>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 <br>2022|March|165,376|97,367|878,565|335,087|1,476,395|1,300,639|
|||Ticket sales|Grant|Manage-|Catering<br>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 <br>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<br>f|Expenditure<br>f|Transfers<br>f|2022<br>f|
|Architectural<br>Heritage||Fund||5,000|(5,000)|||
|Arts Council ofWales—||||||||
|Various|||31,847|227,865|(216,045)|(43,667)||
|Bridgend<br>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<br>Scheme||||3,390|(3,390)|||
|Maesteg Town Council|||40,000||||40,000|
|Millennium<br>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<br>E|Expenditure<br>E|Transfers<br>E|2021<br>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<br>Stadium|Trust|7,500||||7,500|
|Oakdale Trust||1,500||||1,500|
|Pilgrim<br>Trust||712||(712)|||
|Porthcawl<br>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<br>f|Income|Expenditure<br>f|Transfers|scheme<br>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<br>Pavilion||200,000|||||200,000|
|Maesteg Town Hall||160,000|||||160,000|
|Bryngarw<br>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<br>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<br>Pavilion||200,000|||||200,000|
|Maesteg Town Hall||160,000|||||160,000|
|Bryngarw<br>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<br>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<br>Pavilion||100,000|||100,000||200,000|
|Maesteg Town|Hall|100,000|||60,000||160,000|
|Bryngarw<br>House||100,000|||||100,000|
|Fixed asset fund|||||1,348,166||1,348,166|
|Covid-19 recovery||||||||
|fund|||||300,000||300,000|
|Sustainable<br>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<br>Pavilion||100,000|||100,000||200,000|
|Maesteg Town|Hall|100,000|||60,000||160,000|
|Bryngarw<br>House||100,000|||||100,000|
|Fixed asset fund|||||1,329,551||1,329,551|
|Covid-19 recovery||||||||
|fund|||||300,000||300,000|
|Sustainable<br>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<br>controlling|The ultimate<br>controlling|The ultimate<br>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<br>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<br>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,<br>interest|and||rents from investments||||||(9,285)|(17,043)|
|(Gains)/loss<br>on disposal||||||||||5,835|
|Net cash provided|by operating||||activities||||1,022,024|1,997,376|
|Anal<br>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<br>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<br>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<br>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<br>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<br>Service Cost||||expenses|included||in Current|0.006|0.007|
|Amounts<br>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<br>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<br>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<br>by|participants||0.086|0.095|
|Actuarial<br>(gains)/losses||on liabilities|(1.323)|3.021|
|Net benefits paid|out||(0.234)|(0.110)|
|Past service cost|||0.000|0.000|
|Curtailment<br>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<br>gains/(losses)|on assets|(0.233)|2.725|
|Contributions<br>by the employer||0.181|0.260|
|Contributions<br>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)<br>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<br>pension|expense||||||0.606|
|Allowance<br>for administration||expenses||included|in Current Service|Cost|0.006|
|Estimated<br>pensionable|payroll over the|||period|||1.275|
|COMPARATIVE<br>STATEMENT OF|||FINANCIAL ACTIVITIES|||||
||||||||Tota I|
||||||Unrestricted|Restricted|funds|
|~6rou|||||funds|funds|2021|
||||||E|E|f|
|Income and endowments|from:|||||||
|Donations<br>and legacies<br>Charitable<br>activities|||||5,024<br>3,416,358|1,490,965|5,024<br>4,907,323|
|Investment<br>income<br>Other trading activities|||||17,043<br>321,243||17,043<br>321,243|
|Totalincome and endowments|||||3,759,668|1,490,965|5,250,633|
|Expenditure<br>on:||||||||
|Charitable<br>activities|||||3,217,317|682,507|3,899,824|
|Awen Trading<br>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<br>(losses) on defined benefit pension||||||||
|schemes|||||(296,000)||(296,000)|
|Net movementin<br>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<br>STATEME|NT OF FINANCIAL ACT|IVITIES (continued)|||
|---|---|---|---|---|
|||||Total|
|||Unrestricted|Restricted|funds|
|Charity||funds|funds|2021|
|||E|E|E|
|Income and endowments|from:||||
|Donations<br>and legacies<br>Charitable<br>activities||5,024<br>3,455,825|1,490,965|5,024<br>4,946,790|
|Investment<br>income||17,043||17,043|
|Total income and endowments||3,477,892|1,490,965|4,968,857|
|Expenditure<br>on:|||||
|Charitable<br>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<br>(losses) on defined benefit pension<br>schemes||(296,000)||(296,000)|
|Net movementin<br>funds||656,014|117,019|773,033|
|Reconciliation<br>of Funds|||||
|Total funds brought<br>forward||(1,110,342)|597,573|(512,769)|
|Total funds carried forward||(454,328)|714,592|260,264|