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|Report ofthe Trustees incorporating|the Strategic Report|
|---|---|
|Report ofthe Independent
Auditors||
|Statement of Financial Activities||
|Balance Sheet||
|Statement ofCash Flows||
|Notes to Financial Statements||
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||FO|R|THE Y|EAR ENDED 31MARCH 2023|
|---|---|---|---|---|
|Case Study|||||
|Creating awelcoming
community|space|||Monday crafting group —Pyle Library|
|||||Sam, a member ofthe local community,
saw a need for a|
|||||social, practicalactivity
for people tojoin in with. The|
|||||library worked
in partnership
with Sam to offer the space,|
|||||and storage to the group for free. This is her testimony|
|||||about the benefits ofthe group:|
|||||"The ladies that have taken part have made lasting|
|||||friendships,
this was important to some when Covid|
|||||closed many things and isolated lots ofpeople. The|
|||||friendships
that were made allowed each other to have|
|||||contact throughout
and when able they have had days ou|
|||||together.|
|||||lt has been evident that craft has helped with the mental|
|||||health ofmembers
as they have started and not said|
|||||much to begin and as time progressed
that have shared|
|||||ideas and helped others with the crafts that we have done|
|||||or share new skills that others have not done.|
|||||Skills and crafts that have been almost forgotten
have|
|||||been taught to other members ofthe community
so they|
|||||can be kept alive and keep being shared for many years to|
|"This one ofthe 3groups Iattendin||Pyle||come.|
|Library, the croft group on a Monday||has||When planning
future classes, the whole group share thei|
|been life changing.||||ideas and say what other things they would
like to do.|
|8efore Iattended
the Monday group||It||Once things
have been made and finished, we have given|
|took acouple ofmonths ofplanning||to||them to the centre so they can decorate. Other items that|
|leave the house; Isuffer with anxiety||and||have been made have been donated to Porthcawi|
|PDSDand had spent nearly two years||||Museum to sell and raise funds as well as to help the|
|confined tothe house.||||premises to look festive.|
|The library has become asafe placefor me.||||The community
and further
afield have something
to look|
|The group has enabled me tomake some||||forward to each week and have lasting friendships
that|
|new friends;
Inow attend other groups
the village and recently was successful|||in
in|have allowed them to access other things and have
someone to share time with outside ofthe group. "|
|becoming alocal councillor.|||||
|From a64year old woman never|leaving|||Sam —Group Leader|
|the house Ihave become an independent|||||
|growing 66year old woman.|||||
|Thestaff and welcoming
envimnment
Pyle library issecond tonone. "|||at||
|Sue - Participant|||||
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|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|Deiw, Lime Tree Court, Cardiff Gate Business Park, CF23 BAB|||
|Bankers:||Barelays Bank, 1-6Pocketts Wharf, Maritime|||Quarter, Swansea, SA13XL|
|Solicitors:||Blake Morgan, One Central Square, Cardiff,|||CF101FS|
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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|funds|funds|
||||Note|funds|funds|2023|2022|
|||||E|E|6|f|
|Income and endowments||from:||||||
|Donations
and legacies|||3|14,851||14,851|4,186|
|Charitable
activities|||4|4,555,217|573,169|5,128,386|4,813,498|
|Investment
income|||5|13,467||13,467|9,285|
|Other trading activities|||11|1,566,917||1,566,917|1,055,633|
|Total income and endowments||||6,150,452|573,169|6,723,621|5,882,602|
|Expenditure on:||||||||
|Raising funds||||5,406||5,406||
|Charitable
activities||||5,781,741|209,311|5,991,052|4,956,402|
|Awen Trading
Limited||||1,279,267||1,279,267|875,601|
|Total expenditure||||7,066,414|209,311|7,275,725|5,832,003|
|Losses on investments||||(29,535)||(29,535)||
|Net income||||(945,497)|363,858|(581,6391|50,599|
|Transfers between funds|||18,19|447,745|(447,745)|||
|Other recognised losses:||||||||
|Actuarial gains/(losses)|on|defined||||||
|benefit pension schemes|||19,24|3,220,000||3,220,000|1,090,000|
|Net movement
infunds||||2,722,248|(83,887)|2,638,361|1,140,599|
|Reconciliation of Funds||||||||
|Total funds brought forward|||18,19|688'636|636,137|1,324,773|184,174|
|Totalfunds carriedforward|||19,20|3,410'884|552,250|3,963,134|1,324,773|
|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|funds|funds|
|||||funds|funds|2023|2022|
||||Note|||||
|||||E|E|E|E|
|Income and endowments||from:||||||
|Donations
and legacies||||14,851||14,851|4,186|
|Charitable
activities||||4,866,997|573,169|5,440,166|4,952,735|
|Investment
income||||13,467||13,467|9,285|
|Total income and endowments||||4,895,315|573,169|5,468,484|4,966,206|
|Expenditure
on:||||||||
|Raising funds||||5,406||5,406||
|Charitable
activities||||5,808,383|209,311|6,017,694|4,956,402|
|Total expenditure||||5,813,789|209,311|6p023,100|4,956,402|
|Gains/losses
on Investments||||(29,535)||(29,535)|9,804|
|Net income||||(948,009)|363,858|(584,151)|1,099,804|
|Transfers between funds|||18,19|447,745|(447,745)|||
|Other recognised losses:||||||||
|Actuarial
gains/(losses)|on|defined||||||
|benefit pension schemes|||19,25|3,220,000||3,220,000|1,090,000|
|Net movement in funds||||2,719,736|(83,887)|2,635,849|1,099,804|
|Reconciliation of Funds||||||||
|Total funds brought
forward|||18,19|723,931|636,137|1,360,068|260,264|
|Totolfunds carried forward|||19,20|3,443,667|552,250|3,995,917|1,360,068|
|||AWEN CULTURAL|AWEN CULTURAL|AWEN CULTURAL|TRUST||||
|---|---|---|---|---|---|---|---|---|
|||BAlANCE SHEET||-CONSOLIDATED|||||
||||AS AT31MARCH||2023||||
||||||202$||2022||
||||Note|E|||||
|Fixed assets:|||||||||
|Tangible assets
Intangible
assets|||10
11|||1,916,751
4,090||1,668,686
6,927|
|Investments|||12|||766,564|||
|||||||2,6$7,205||1,675,613|
|Current assets:|||||||||
|Stocks||||42,119|||43,259||
|Investments|||13|1,099,71,0|||||
|Debtors|||14|1,708,1$5|||238,150||
|Cash at bank and in|hand|||713577|||BD56,459||
|||||$,56S,341|||4,867468||
|Uabgities:|||||||||
|Creditors: Amounts|falling due within||||||||
|one year|||15|(2,162,068)|||(2,236,274)||
|Net current assets||||||1,401,27$||2,631,594|
|Total assets less current liabilities||||||4,0$8,478||4,307,207|
|Creditors: Amounts
more than one year
Net assets exdudlng|falling due after
pension goblllty||16|||(125,344)
3,96$,134||(164,434)
4,142,773|
|Defined benefit pension scheme||liability|24|||||(2,818,000)|
|Total net liabilities||||||5.963,134|||
|The funds ofthe group:
Restricted income funds||||||552,250||636,137|
|unrestricted
funds|||||||||
|General fund|||19|672,943|||561,709||
|Designated
fund
Pension reserve|||19
24|2,737,941|||2,944,927
(2,818,000)||
|||||||3,410,884||688,636|
|Total group funds|||20|||$.$6$,154||1,324,773|
|||||||Note|2023|2022|
|---|---|---|---|---|---|---|---|---|
|||||||||E|
|Net cash provided
by operating
activities||||||24|(1,487,278)|1,022,024|
|Cosh flows from investing|activities:||||||||
|Dividends, interest and rents from investments||||||5|13,467|9,285|
|Purchase of property
plant|and equipment|||||10|(500,213)|(622,344)|
|Purchase of investments||||||11|(1,$69,308)||
|Net cash used in investing|activities||||||(2,356,054)|(613,059)|
|Cash flows from financing|activities:||||||||
|Repayments
ofborrowing|||||||(3,448)|(1,602)|
|Cash inflows from new borrowing||||||||42,030|
|Net cash used in investing|activities||||||(3,448)|40,428|
|Change in cash and cash equivalents||in the|reporting|period|||(3,846,780)|449,393|
|Cash and cash equivalents|at the beginning||ofthe reporting||period|23|4,586,459|4,137,066|
|Cash and cash equivalents|at the end|ofthe reporting||period||23|739,679|4,586,459|
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||Unrestdcted|Restricted|Total|Total|
|---|---|---|---|---|
||funds|funds|2023|2022|
|~Grou|E|E|E|E|
|Donations|14,851||14,851|4,186|
||14,851||14,851|4,186|
|Charity|||||
|Donations|14,851||14,851|4,186|
||14,851||14,851|4,186|
|4.|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted|Restricted|Total|Total|
||||||||funds|funds|2023|2022|
||~Grou|||||||E|E|E|
||Contract income||||||26,736|110,000|136,736|24,615|
||Grants||||||40,230|463,169|503,399|826,837|
||Hire and rental income||||||135,419||135,419|72,131|
||Library income||||||14,083||14,083|10,293|
||Management|fee|||||3,569,779||3,569,779|3,304,342|
||Membership||||||865||865|450|
||Car park income||||||63,437||63,437|79,892|
||Sundry||||||59,709||59,709|59,417|
||Sale ofgoods||||||8$,393||83,393|76,405|
||Ticket sales||||||561,565||561,565|359,116|
||||||||4,555,217|573,169|5,128,386|4,813,498|
||Grants include:||||||||||
||Architectural|Heritage||||||||5,000|
||Arts Ik Business Cymru||||||875||875||
||Arts Council|ofWales —Various||||||||227,865|
||Aura Leisure|and|Libraries|||Ltd|1,500||1,500||
||BAVO||||||2,650||2,650|7,922|
||Books4U||||||31,942||31,942|28,725|
||Bridgend County||Borough|||Council||187,061|187,061|296,665|
||Cardiff City|Borough||Council||||1,973|1,973|2,654|
||Cwmpas||||||1,963||1,963||
||Heritage Lottery||Fund|||||62,237|62,237||
||HMRC Coronavirus|||Job|retention||||||
||Scheme|||||||||3,390|
||KCooks|||||||||1,000|
||Literature
Wales||||||550||550||
||Pobi|||||||1,000|1,000||
||Purcell|||||||||12,000|
||Pyle Community||Council||||450||450||
||VOL|||||||||30,878|
||WCVA|||||||5,000|5,000||
||Welsh Government|||||||205,898|205,898|210,738|
||Ynysawdre|Community|||Council||300||300||
||||||||40,230|463,169|503,399|826,837|
||||||||||Total|Total|
||||||||||2023|2022|
||||||||||E|E|
||Income is attributable||||to:||||||
||Parks and work based||||projects||||541,790|517,884|
||Central||||||||3,082,149|3,279,918|
||Community|centres|||||||46,014|17,637|
||Libraries||||||||346,025|354,767|
||Venues||||||||2,707,643|1,709,696|
||||||||||6,723,631|5,882,602|
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|||||||Unrestricted|Restdcted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|2023|2022|
|Charity||||||E|f||f|
|Contract income||||||51,614|110,000|161,614|41,968|
|Grants||||||40,230|463,169|503,400|826,837|
|Hire and rental income||||||379,886||379,886|182,075|
|Library income||||||14,083||14,083|10,293|
|Management|fee|||||3,569,779||3,569,779|3,304,342|
|Membership||||||865||865|450|
|Car park income||||||63,438||63,438|79,892|
|Sundry||||||64,697||64,697|71,357|
|Sale ofgoods||||||120,840||120,840|76,405|
|Ticket sales||||||561,565||561,565|359,116|
|||||||4,866,997|573,169|5,440,166|4,952,735|
|Grants include:||||||||||
|Architectural|Heritage||||||||5,000|
|Arts & Business Cymru||||||875||875||
|Arts Council|ofWales- Various||||||||227,865|
|Aura Leisure|and|Libraries|||Ltd|1,500||1,500||
|BAVO||||||2,650||2,650|7,922|
|Books4U||||||31,942||31,942|28,725|
|Bridgend
County||Borough Council|||||187,061|187,061|296,665|
|Cardiff City|Borough||Council||||1,973|1,973|2,654|
|Cwmpas||||||1,963||1,963||
|Heritage
Lottery||Fund|||||62,237|62,237||
|HMRC Coronavirus|||Job retention|||||||
|Scheme|||||||||3,390|
|KCooks|||||||||1,000|
|Literature
Wales||||||550||550||
|Pobl|||||||1,000|1,000||
|Purcell|||||||||12,000|
|Pyle Community||Council||||450||450||
|VOL|||||||||30,878|
|WCVA|||||||5,000|5,000||
|Welsh Government|||||||205,898|205,898|210,738|
|Ynysawdre|Community|||Council||300||300||
|||||||40,230|463,169|503,399|826,837|
|||||||||Total|Total|
|||||||||2023|2022|
|||||||||E|E|
|Income is attributable to:||||||||||
|Parks and work based projects||||||||541,790|517,884|
|Central||||||||3,393,930|3,279,918|
|Community|centres|||||||46,014|17,637|
|Libraries||||||||346,024|354,767|
|Venues||||||||1,140,726|796,000|
|||||||||5,468,484|4,966,206|
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|S.|INVES|TM|EN|T INCOME||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|Total|Total|
|||||||funds|funds|2023|2022|
||Grou|and||char||||E|E|
||Bank|interest||||12,451||12,451|9,285|
||Dividend||income|||1,016||1,016||
|||||||13,467||13,467|9,285|
|6.|RAISING||FUNDS|||||||
|||||||Unrestricted|Restricted|Total|Total|
|||||||funds|funds|2023|2022|
||~rgis~n~hrity|||||E||E|E|
||Investment|||management|fees|5,406||5,406||
|||||||5,406||5,406||
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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
||||Direct|Support|Governance|2023|2022|
|~Grou||||||E|E|
|Artists and theatre||costs|373,779|||373,779|261,079|
|Audit and accountancy|||||10,183|10,183|9,000|
|Bad debts|||2,806|(26)||2,780|991|
|Bank charges|||15,550|3,547||19,097|13,562|
|Cleaning|||108,187|(95)||108,092|87,989|
|Depreciation|||215,728|8,992||224,720|273,837|
|Events and arts activities|||149,313|||149,313|65,249|
|Goods for resale|||30,487|||30,487|36,715|
|Grants|||667|||667|28,333|
|Heat and light|||189,660|||189,660|166,261|
|Insurance|||1,440|42,393||43,833|38,890|
|Irrecoverable|VAT||3,239|50,456||53,695|21,969|
|ITand Telephone|||42,229|51,730||93,959|89,643|
|Library books|and|periodicals|202,611|||202,611|206,321|
|Motor costs|||15,871|||15,871|11,327|
|Pension finance costs|||73,000|||73,000|71,000|
|Printing,
post|and|stationery|8,293|2,929||11.222|8,002|
|Professional fees|||44,697|332,962||377,659|108,440|
|Repairs, renewals||and||||||
|maintenance|||265,489|4,769||270,258|219,290|
|Recruitment
and marketing|||61,651|48,786||110,437|89,931|
|Rent and rates|||21,750|132||21,882|56,002|
|Staff costs|||2,514,380|965,149||3,479,529|2,996,776|
|Staff training|||1,968|55,789||57,757|37,956|
|Subscriptions|and|licenses|8,565|4,601||13,166|14,047|
|Sundry|||4p915|14||4,929|3,644|
|Sundry tools|and|equipment|16,319|1,564||17,883|18,386|
|Ticket costs|||22,397|||22,397|14,794|
|Travelling|||4,923|7,263||12,186|6,968|
||||4,399,914|1,580,955|10,183|5,991,052|4,956,402|
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|XPENDITUR|E|ON CHARITAB|LE ACTIVITIES (continued)|||
|---|---|---|---|---|---|
|||||Total|Total|
|~Grou||||2023|2022|
|||||E||
|Expenditure||isattdbutable|to:|||
|Parks and work based projects||||873,543|634,192|
|Central||||2,001,681|1,435,834|
|Community|centres|||66,692|83,087|
|Libraries||||1,461,503|1,250,812|
|Venues||||1,593,039|1,552,477|
|Awen Trading||Limited||1,279,267|875,601|
|||||7,275,725|5,832,003|
|Charity||||||
|Expenditure||is attributable|to:|||
|Parks and work based projects||||900,185|634,192|
|Central||||2,001,681|1,435,834|
|Community|centres|||66,692|83,087|
|Libraries||||1,461,503|1,250,812|
|Venues||||1,593,039|1,552,477|
|||||6,023,100|4,956,402|
|he charity
paid grants to the following
institutions
during the|period:||
|---|---|---|
|~Gd
h|2023
f|2022
E|
|Bridgend Youth Theatre|667|13333|
|It's My Shout -Short Film Training Scheme||15,000|
||667|28,333|
##
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||Total|Total|
|---|---|---|
||2023|2022|
|~Grou||E|
|Wages and salaries|3,316,603|2,643,665|
|Social security costs|259,378|207,618|
|Defined benefit pension costs|507,000|570,000|
|Other pension costs|108,092|80,974|
||4,191,073|3,502,257|
||Total|Total|
||2023|2022|
|Char(ty|E|E|
|Wages and salaries|2,643,014|2,175,729|
|Social security costs|235,720|182,287|
|Defined benefit pension costs|507,000|570,000|
|Other pension costs|93,794|68,760|
||3,479,528|2,996,776|
|he number ofemployees
whose annual
remunerat|ion
wasf60,000or more were:||
|---|---|---|
||Total|Total|
|666dC h|2023
E|2022
E|
|E60,000 - E69,999|||
|E80,000 - E89,999|||
|690,000 - E100,000|||
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||2023|2022|
|---|---|---|
|Group|No.|No.|
|Park and work based projects|16|14|
|Central|26|19|
|Libraries|64|57|
|Venues|40|55|
|Trading|57||
||203|145|
||2023|2022|
|Charity|No.|No.|
|Park and work based projects|16|14|
|Central|26|19|
|Libraries|64|57|
|Venues|40|55|
||146|145|
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||2023|2022|
|---|---|---|
|Group|No.|No.|
|Park and work based projects|11|12|
|Central|25|19|
|Libraries|35|33|
|Venues|16|11|
|Trading|13||
|||75|
||2023|2022|
|Charity|No.|No.|
|Park and work based projects|11|12|
|Central|25|19|
|Libraries|35|33|
|Venues|16|11|
||87|75|
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|ANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
||Equipment||||
||and fixtures|Property|||
|~Grou|and fittings|improvements|Motor|Total|
||E|E|6|E|
|Cost|||||
|At 1April 2022|782,574|1,422,354|65,397|2,270,325|
|Additions|292,534|194,062|13,617|500,213|
|Disposals|(4,900)|||(4,900)|
|At 31March 2023|1,070,208|1,616,416|79,014|2,765,638|
|Depreciation|||||
|At 1April 2022|288,584|275,751|37,304|601,639|
|Charge forthe year|108,615|125,068|14,660|248,344|
|Disposals|(1,095)|||(1,095)|
|At 31March 2023|396,104|400,819|51,964|848,887|
|Net book value|||||
|At 31March 2023|674,104|1,215,597|27,050|1,916,751|
|At 31March 2022|493,990|1,146,603|28,093|1,668,686|
||Equipment||||
||and fixtures|Property|||
|Charity|and fittings|improvements|Motor|Total|
||f|E||E|
|Cost|||||
|At 1April 2022|706,153|1,325,174|65,397|2,096,724|
|Additions|281,190|194p062|13,617|488,869|
|At 31March 2023|987,343|1,519,236|79,014|2,585,593|
|Depreciation|||||
|At 1April 2022|266,044|268,781|37,304|572,129|
|Charge for the year|83,576|125,069|14,660|223,305|
|At 31March 2023|349,620|393,850|51,964|795,434|
|Net book value|||||
|At 31March 2023|637,723|1,125,386|27,050|1,790,159|
|At 31March 2022|440,109|1,056,393|28,093|1,524,595|
##
##
##
##
|NTANGIBLE FIXEDASSETS|||
|---|---|---|
||Website||
|Garou|costs|Total|
||E|E|
|Cost|||
|At 1April 2022|14,185|14,185|
|At 31March 2023|14,185|14,185|
|Depreciation|||
|At 1April 2022|7,258|7,258|
|Charge forthe year|2,837|2,837|
|At 31March 2023|10,095|10,095|
|Net book value|||
|At 31March 2023|4,090|4,090|
|At 31March 2022|6,927|6,927|
|Charity|||
|Cost|||
|At 1April 2022|7,075|7,075|
|At 31March 2023|7,075|7,075|
|Depreciation|||
|At 1April 2022|2,830|2,830|
|Charge for the year|1,415|1,415|
|At 31March 2023|4,245|4,245|
|Net book value|||
|At 31March 2023|2,830|2,830|
|At 31 March 2022|4,245|4,245|
##
|||Listed|Cash Held in||
|---|---|---|---|---|
|Garou||Investments|Portfolio|Total|
|||E|E|E|
|8/F|||||
|Additions||769,598||769,598|
|Cash Movement|||26,301|26,301|
|Valuation|Charges|(29,535)||(29,535)|
|||740,063|26,301|766,364|
|||Investments||||
|---|---|---|---|---|---|
|||in Group|Listed|Cash Held in||
|Charity||Undertakings|Investments|Portfolio|Total|
|||E|E|E|E|
|8/F|||||1|
|Additions|||769,598||769,598|
|Cash Movement||||26,301|26,301|
|Valuation|Charges||(29,535)||(29,535)|
||||740,063|26,301|766,365|
##
##
|he results ofthe compa|ny for the year en|ded 31March|2023 can be foun|d below:||
|---|---|---|---|---|---|
|||202$|202$|2022|2022|
|||E|E|f|f|
|Profit and Loss Account||||||
|Turnover|||1,59$,559||1,055,633|
|Administrative
expenses|||(1,591,046)||(1,014,835)|
|Operating
profit/ (loss)|||2,51$||40,798|
|Statement ofChanges|in Equity|||||
|Balance brought forward|||($5,290)||(76,089)|
|Profit/ (loss) and total comprehensive||||||
|income for the period|||2,513||40,798|
|Balance carried forward|||(32,777)||(35,291)|
|Balance Sheet||||||
|Fixed assets:||||||
|Tangible assets|||126,591||144,091|
|Intangible
assets|||1,260||2,682|
||||127p851||146,773|
|Current assets:||||||
|Stock||26,957||29,959||
|Debtors||4,601||67,529||
|Cash at bank and in hand||176,582||268,209||
|||208,140||365,697||
|Current liabilities:||||||
|Trade creditors||21,252||47,168||
|Amount
due to parent||12,954||47,923||
|Taxation and Social security||28,173||5,957||
|Other creditors||181,045||282,278||
|||243,424||383,326||
|Net current assets|||(35,284)||(17,629)|
|Total assets less current liabilities|||92,567||129,144|
|Creditors: amounts
falling due after||||||
|more than one year|||(125,344)||(164,434)|
|Net assets! (liabilities)|||327,777||(35,290)|
|Capital and Reserves:||||||
|Called up share capital|||1||1|
|Profit and loss reserves|||(32,778)||(35,291)|
||||(32,777)||(35,290)|
##
|G~dd|G~dd|Deposits held
to Maturity|
|---|---|---|
|||6|
|Balance|B/F||
|Amounts|invested|1,099,700|
|Fee reserve||10|
|Amounts|C/F|1,099,710|
##
##
|DEBTORS||||
|---|---|---|---|
|||Total|Total|
|Garou||2023
E|2022f|
|Trade debtors||1,373,931|150,457|
|Prepayments|and accrued income|333,984|87,492|
|Other debtors||221|201|
|||1,708,135|238,150|
|Charity||||
|Trade debtors||1,371,601|149,159|
|Amounts
owed by group undertakings||12,954|47,923|
|Prepayments|and accrued income|331,713|83,844|
|Other debtors||221|201|
|||1,716,488|281,127|
|15.|CREDITORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|---|
||||Total|Total|
||~Grou||2023
E|2022f|
||Trade creditors||337,578|277,006|
||Accruals||308,955|372,844|
||Deferred income||1,367,185|1,375,900|
||Taxation and social security||103,104|133,774|
||Other creditors||30,158|65,641|
||Loan||15,088|11,109|
||||2,162,068|2,236,274|
##
##
##
|Trade creditors|Trade creditors||316,326|229,838|
|---|---|---|---|---|
|Accruals|and deferred|income|276,790|333,264|
|Deferred|income||1,233,392|1,144,311|
|Taxation|and social security||78,322|190,400|
|Other creditors|||26I767|65,641|
||||1,931,597|1,963,454|
##
##
||||||2023|2022|
|---|---|---|---|---|---|---|
|Garou|||||E|E|
|WCVA|Loan||||56,512|63,939|
|Deferred||income|||68,832|100,495|
||||||125,344|164,434|
|Grou|-loans||due in|&1 ear|2023f|2022
E|
|Amounts||due|2-5 years||50,460|52,545|
|Amounts||due|&5years||6,052|11,394|
||||||56,512|63,939|
|||||2023|2022|
|---|---|---|---|---|---|
|Grou|-deferred||income due in &1 ear|E|f|
|Amounts||due 2-5 years||68,832|100,495|
|||||68,832|100,495|
##
##
||||||Catering
lk|||
|---|---|---|---|---|---|---|---|
||||Grant|Manage-|wedding|Total|Total|
|Garou||Ticket sales
f|income
f|rnent feef|incomef|2023
f|2022
f|
|Balances as at 1April||||||||
|2022||165,376|97,367|878,565|335,087|1,476,395|1,300,639|
|Income received|in the|||||||
|year||607,947|459,040|3,658,472|1,026,040|5,751,499|3,792,491|
|Released to income||(561,565)|(503,400)|(3,569,779)|(1,157,135)|(5,791,879)|(3,616,735)|
|Balance as at31March
2023||211,758|53,007|967,258|203,992|1,436,015|1,476,395|
|Charity||||||||
|Balances as at 1|April|||||||
|2022||165,376|97,367|878,565|3,003|1,144,311|928,993|
|Income received|in the|||||||
|year||607,947|459,040|3,658,472|378,250|5,103,709|4,887,688|
|Released to income||(561,565)|(503,400)|(3,569,779)|(379,886)|(5,014,630)|(4,672,370)|
|Balance as at 31March
2023||211,758|53,007|967,258|1,367|1,233,390|1,144,311|
##
##
##
##
|RESTRICT|ED FUNDS||||||
|---|---|---|---|---|---|---|
|||Asat||||Balance at|
|||1April||||31March|
|||2022|Income|Expenditure|Transfers|2023|
|QrrIR3Lnn;bsLr~i|||E|E|E|E|
|Bridgend|County Borough||||||
|Council||105,500|297,061|(139,101)|(210,000)|53,460|
|Cardiff Council|||1,973|(1,973)|||
|Garfield|Weston|200,000||||200,000|
|Heritage|Lottery Fund||62,237|(62,237)|||
|Maesteg|Town Council|40,000||||40,000|
|Oakdale|Trust|1,500||||1,500|
|Pobl|||1,000|(1,000)|||
|WCVA|||5,000|(5,000)|||
|Welsh Government||289,137|205,998||(237,745)|257,290|
|||636,137|573,169|(209,311)|(447,745)|552,250|
##
##
##
##
|||||As at||||Balance at|
|---|---|---|---|---|---|---|---|---|
|||||1April||||31March|
|||||2021|Income|Expenditure|Transfers|2022|
|d|Ch||||E|E|E|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
Welsh Government||||250,000|30,878
210,738|«7,7DIl|(30,878)
(163,901)|289,137|
|||||714,592|786,536|(473,814)|(391,177)|636,137|
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##
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##
##
##
##
##
||||||||Actuarial||
|---|---|---|---|---|---|---|---|---|
||||||||losses on||
|||Balance at|||||defined||
|||1April|||||benefit|Balance at|
|||2021|||||pension|31March|
|~Grou|||Income
f|Expenditure|f|Transfers
f|schemef|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|688,636|
|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|
|Job 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|
##
##
##
||||Unrestricted|Designated|Restricted|Total|
|---|---|---|---|---|---|---|
|~Grou|||funds|funds|funds|2023|
||||E|E|E|E|
|Fixed and intangible||assets||1,920,841||1,920,841|
|Investments|||766,364|||766,364|
|Current|assets||2,193,991|817,100|552,250|3,563,341|
|Current|liabilities||(2,162,068)|||(2,162,068)|
|Creditors|due &1year||(125,344)|||(125,344)|
|Pension|surplus||||||
||||672,943|2,737,941|552,250|5,477,134|
|Charity|||||||
|Fixed and intangible||assets||1,792,989||1,792,989|
|Investments|||766,365|||766,365|
|Current|assets||1,992,875|823,035|552,250|3,368,160|
|Current|liabilities||(1,931,597)|||(1,931,597)|
|Pension|surplus||||||
||||827,643|2,616,024|552,250|3,995,917|
||||Unrestricted|Designated|Restricted|Total|
|~Grou|||funds|funds|funds|2022|
||||f|f|f|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||(2,818,000)|||(2,818,000)|
||||(2,256,291)|2,944,927|636,137|1,324,773|
|tharitg|||||||
|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|
##
##
##
|he following operating
leases were in place as at|31March 2023:||
|---|---|---|
|~Gd Ch|Total
2023|Total
2022|
||E|E|
|Due less than one year|4,622|7,790|
|Due two to five years|802|5,487|
||5,425|13,277|
##
##
|RECONCILIATION
OF NET MOVEMENT|RECONCILIATION
OF NET MOVEMENT|IN FUNDS TO NET CASH FLOW|IN FUNDS TO NET CASH FLOW|FROM OPERATING|FROM OPERATING|
|---|---|---|---|---|---|
|ACTIVITIES||||||
|~Grou||||2023|2022|
|||||E|E|
|Net income for the reporting
period||||2,638,361|1,140,599|
|Adjustments
for:||||||
|Depreciation
charges||||248,344|292,060|
|Amortisation||||2,837|2,837|
|(Increase)/decrease
in stocks||||1,140|(23,930)|
|(Increase)/decrease
in debtors||||(1,469,985)|(38,233)|
|Increase/(decrease)
in creditors||||(2,927,848)|(342,024)|
|Dividends,
interest and rents from investments||||(13,467)|(9,285)|
|(Gains)/loss
on disposal offixed assets||||3,805||
|(Gains)/loss
on disposal of investments||||29,535||
|Net cash provided
by operating|activities|||(1,487,278)|1,022,024|
|Ana
sis of Cash and Cash E uivalents||||||
|Cash in hand||||713,377|4,586,459|
|Cash held
in investment
portfolio||||26,301||
|Total Cash and Cash Equivalents||||739,678|4,586,459|
|Anal
sisofchan es in net debt||||||
||||At 1April|Cash-flows|Asat31|
||||2022f||March 2023
E|
|Cash
Other loans falling due( more than 1
Other loans falling due)1year||year|4,586,459
(11,109)
(63,939)|(3,873,082)
(3,979)
7,427|713,377
(15,088)
(56,512)|
||||4,511,411|(3,869,634)|641,777|
##
##
|Date ofthe last full actuarial|valuations|valuations|ofthe employer's|LGPS funded|benefits|31March 2019|
|---|---|---|---|---|---|---|
|Expected employer contributions||next|year (EM)|||0.214|
|Duration ofliabilities||||||25.3years|
|Discount rate||||4.60|2.70|2.10|
|CPI Inflation||||2.60|2.90|2.60|
|Pension increases||||2.60|2.90|2.60|
|Pension accounts revaluation|rate|||2.60|2.90|2.60|
|Salary increases||||3.85|4.15|3.85|
##
|||||,|'31March:2023|31Mrarch 2022|
|---|---|---|---|---|---|---|
|Males|||||||
|Member aged 65at accounting|date||||21.6|21.6|
|Member aged 45at accounting|date||||22.9|22.6|
|Females|||||||
|Member aged 65at accounting|date||||24.2|23.9|
|Member aged 45at accounting|date||||25.7|25.4|
|Equities||69.2|7.835||67.5|8.091|
|Property||6.8|0.770||0.0|0.000|
|Government
bonds||10.3|1.166||11.6|1.391|
|Corporate
bonds||12.2|1.381||12.7|1.523|
|Multi asset credit||0.0|0.000||7.3|0.875|
|Cash||0.8|0.091||0.6|0.072|
|Other||0.7|0.079||0.3|0.036|
|||100.0|11.322||100.0|11.988|
##
|Fair value ofassets||11.322|11.988|
|---|---|---|---|
|Present value offunded|defined benefit obligation|9.808|14.806|
|Funded status||1.514|(2.818)|
|Restriction on scheme|assets|(1.514)||
|Asset/(liability)
recognised
on the balance sheet|||(2.818)|
|Active members|669o|
|---|---|
|Deferred Pensioners|13'Yo|
|Pensioners|219o|
|i|Amopnts
reco/fn(sed
in|income statement|income statement|income statement||Pei(od ending,|Pei(od ending,|pe~ri|deeding|
|---|---|---|---|---|---|---|---|---|---|
|||||||8$%larchrZ028
=31Iiriarcli 2)I22-
@Mj,--;
'
gQ)||||
||Operating cost|||||||||
||Current service cost||||||0.507||0.570|
||Past service cost||||||0.000||0.000|
||Curtailment
cost||||||0.000||0.000|
||Financing cost|||||||||
||Interest on net defined|benefit liability/(asset)|||||0.073||0.071|
||Pension expense recognised||in profit and loss||||0.580||0.641|
||Allowance
for administration||expenses|included|in|Current|0.006||0.006|
||Service Cost|||||||||
||''4ecogri'sad to: -"ercom '~x'n'siija2||||"„''"e"'-,":-'-„,
' ''||iitl "'
(ci"-'-'gr|",'" '|if" ((I'-|
||Asset gains/(losses)
arising during the|||period|||(0.970)||(0.233)|
||Actuarial gains/(losses)|due|to changes|in financial||||||
||assumptions||||||6.192|||
||Actuarial
gains/(losses)|due|to changes|in demographic||||||
||assumptions||||||0.036|||
||Actuarial
gains/(losses)|due|to liability|experience|||(0.524)||1.323|
||Adjustment
in respect|ofparagraph
28.22|||||(1.514)|||
||Total amount
recognised
in other comprehensive|||||income|3.220||1.090|
|Opening
defined benefit obligation|Opening
defined benefit obligation||14.806|15.385|
|---|---|---|---|---|
|Current service cost|||0.507|0.570|
|Interest expense on defined benefit obligation|||0.397|0.322|
|Contributions
by participants|||0.085|0.086|
|Actuarial
(gains)/losses
due to|changes|in financial|||
|assumptions|||(6J,92)||
|Actuarial
(gains)/losses
due to|changes|in demographic|||
|assumptions|||(0.036)||
|Actuarial
(gains)/losses
due to|liability|experience|0.524||
|Actuarial
(gains)/losses
on liabilities||||(1.323)|
|Net benefits paid out|||(0.283)|(0.234)|
|Closing defined benefit obligation|||9.808|14.806|
||||";-4eib)d:ending. '-. =. Tprjg+4irtg.
31Marcfiit2I)23
.3ikhaarch'Zb22
/EM)
. ':($illi)||
|Opening fair value ofassets|||11.988|11.937|
|Interest income on assets|||0.324|0.251|
|Re-measurement
gains/(losses)|on assets||(0.970)|(0.233)|
|Contributions
by the employer|||0.178|0.181|
|Contributions
by participants|||0.085|0.086|
|Net benefits paid out|||(0.283)|(0.234)|
|Closing fair value ofassets|||11.322|11.988|
|Act)sisi return. on assets|Period ending;, :;Per)edendirig
' 81'plarshg()23~;:;9%gula'rcfikQ2"|
|---|---|
|Interest income on assets|0.324
0.251|
|Gain/(loss)
on assets|(0.970)
(0.233)|
|Actual return on assets|(0.646)
0.01&|
##
##
##
##
##
|Current service|cost|||0.260|
|---|---|---|---|---|
|Interest on net|defined|benefit liability|||
|Total estimated|pension|expense||0.260|
|Allowance for|administration
expenses included||in Current Service Cost|0.006|
|Estimated
pensionable||payroll over the period||1.252|
##
##
|OMPARATIVE
STATEMEN|T OF FINANCIAL ACTI|VITIES|||
|---|---|---|---|---|
|||||Total|
|||Unrestricted|Restricted|funds|
|~Grou||funds|funds|2022|
|||E|E|E|
|Income and endowments|from:||||
|Donations
and legacies||4,186||4,186|
|Charitable
activities||4,026,962|786,536|4,813,498|
|Investment
income||9,285||9,285|
|Other trading activities||1,055,633||1,055,633|
|Totalincome and endowments||5,096,066|786,536|5,882,602|
|Expenditure
on:|||||
|Charitable
activities||4,482,588|473,814|4,956,402|
|Awen Trading
Limited||875,601||875,601|
|Total expenditure||5,358,189|473,814|5,832,003|
|Net income||(262,123)|312,722|50,599|
|Transfers between funds||391,177|(391,177)||
|Other recognised losses:|||||
|Actuarial (losses) on defined benefit pension|||||
|schemes||1,090,000||1,090,000|
|Net movement
infunds||1,219,054|(78,455)|1,140,599|
|Reconciliation
of Funds|||||
|Total funds brought
forward||(530,418)|714,592|184,174|
|Total funds carried forward||688,636|636,137|1,324,773|
##
|OMPARATIVE STATEMEN|T OF FINANCIAL ACTI|VITIES (continued)|||
|---|---|---|---|---|
|||||Total|
|||Unrestricted|Restricted|funds|
|Charity||funds|funds|2022|
||||E||
|Income and endowments|from:||||
|Donations
and legacies||4,186||4,186|
|Charitable
activities||4,166,199|786,536|4,952,735|
|Investment
income||9,285||9,285|
|Totalincome ond endowments||4,179,670|786,536|4,966,206|
|Expenditure
on:|||||
|Charitable
activities||4,482,588|473,814|4,956,402|
|Total expenditure||4,482,588|473,814|4,956,402|
|Net income||(302,918)|312,722|9,804|
|Transfers between funds||391,177|(391,177)||
|Other recognised losses:|||||
|Actuarial
(losses) on defined benefit pension|||||
|schemes||1,090,000||1,090,000|
|Net movement in funds||1,178,259|(78,455)|1,099,804|
|Reconciliation of Funds|||||
|Total funds brought
forward||(454,328)|714,592|260,264|
|Totalfunds carried forward||723,931|636,137|1,360,068|