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2021-08-31-accounts

REGISTERED COMPANY NUMBER: 08601303 (England and Wales) REGISTERED CHARITY NUMBER: 1170264

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

FOR

CYFLE BUILDING SKILLS LTD

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

CYFLE BUILDING SKILLS LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

Page
**Repor of the Trust s ** to3
Repor of the Independent Auditors 4 to6
Sttement of Flnanclal Activites 7
Balance Sheet 8
Cash Flow Statement 9
Notes to te Cash Flow Statement 10
Notes to te Flnanclal Statements 11 to17
Detiled Statment of Flnanclal Activities 18

CYFLE BUILDING SKILLS LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021 . The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and alms

On 18 November 2016, the company obtained charitable status. Our main activities are to advance, develop and promote the educations of persons through Wales and England by way of the provision of apprenticeship schemes and training opportunities in relation to construction and/ or related occupations which may relate to the built environment as the Charity's trustees think fit.

ACHIEVEMENT AND PERFORMANCE Charitable activities

Throughout the financial year the charity has received many accolades which illustrates the success of the apprenticeship scheme. Such recognitions include The Princess Royal Award for Outstanding Training and Skills Development and also the Princess Royal Award for Quality, Diversity and Inclusion in the Workplace. Cyfle Building Skills Ltd achieved the Queen's Award for Social Mobility.

FINANCIAL REVIEW Reserves pollcy

Reserves policy The Board has set out the charity's reserve policy to enable trustees to be in proper financial control of the organisation and meet its legal obligations.

The Board has set the reserves policy to ensure there are enough funds to cover designated closure costs, which include staff redundancy costs and any outstanding amounts owing at the year end.

The surplus for the year was £35,902 (2020: £141,511), which has resulted in free reserves at 31 August 2021 of £313,058 (2020: £277,156).

Going concern

The charity is reliant on contributions from employers and a significant drop would make going concern an issue.

FUTURE PLANS

The Charity aims to continue to offer the full range of services it currently offers and is also developing a Mentoring in the Workplace project.

Additionally, Cyfle Building Skills Ltd aims to continue to develop and sustain the South West Wales Onsite Hub, a three year programme providing work experience opportunities in the Construction Industry.

Furthermore, Cyfle's aim is to link up with the Jae Lewis Foundation to promote and develop a well being programme, to provide mental health services to the community.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure the appropriate controls are in place to provide reasonable assurance against fraud and error.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The appointment of a new trustee is an important matter. Before appointing a new trustee, the trustee board must make sure that it is acting within the law, in accordance with the charity's governing document, and that the prospective trust e is not disqualified from being a trust e . The trustees must first ensure that the prospective trust e is permitted to be a trustee. This will include being of age (at least 16 years old), not being disqualified under the Charities Act 2011, being a fit and proper person, and being able to work with children and vulnerable adults.

A trustee shall cease to hold office if they become disqualified, decide to retire or the board decides to remove a trustee for a specific reason. The removal of a trustee by the board can only take place if the board has a good reason to remove the trustee,

Page 1

CYFLE BUILDING SKILLS LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 08601303 (England and Wales)

Registered Charity number

1170264

Registered office

Ammanford Campus Dyffryn Road Ammanford Carmarthenshire SA18 3TA

Trustees

W G John Company Director K H Pearson Company Director W J Davies Director

0 H Jones Director A R Thomas Director D V Jones Company Director

Company Secretary

0 H Jones

Auditors

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Cyfle Building Skills Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial s1atements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trust s are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial s1atements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the chari1able company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on ............................................ and signed on its behalf by: 25/05/2022

Page 2

CYFLE BUILDING SKILLS LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021

·········�·········· ... · ................... . 0 H Jones - Trustee

Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYFLE BUILDING SKILLS LTD

Opinion

We have audited the financial statements of Cyfle Building Skills Ltd (the 'charitable company') for the year ended 31 August 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trust s with respect to going concern are described in the relevant sections of this report.

Other Information

The trust s are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYFLE BUILDING SKILLS LTD

Responslbllitles of truste s

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trust s determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error,

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responslbllltles for the audit of the nnanclal statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarant that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting Irregularities, Including fraud

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to Irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

enquiring of management, including obtaining and reviewing supporting documentation, concerning the Charity's policies and procedures relating to:

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud:

the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations:

discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud,

obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Charity, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks Identified

In addition to the above, our procedures to respond to risks identified included the following: reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

enquiring of management concerning actual and potential litigation and claims: performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud: reading minutes of meetings of those charged with governance:

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments:

assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYFLE BUILDING SKILLS LTD

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to sa e to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Henry Lloyd- Davies (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And StaMory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

Date: .25/05/2022 . . . . . . . . . . . . . . . . .

Page 6

CYFLE BUILDING SKILLS LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable actvites
Charitable activities
Investment incme
3
Totl
EXPENDITURE ON
Raising fnds
Charitable actvites
5
Charitable activities
Totl
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forard
TOTAL FUNDS CARRIED FORWARD		 Unresticted
funds
£
656,947
195,290
852,237
816,335
816,335
35,902
277,156
313,058		 Resticted
funds
£
585,528
585,528
585,528
585,528		 2021
To1l
funds
£
656,947
780,818
1,437,765
1,401,863
1,401,863
35,902
277,156
313,058
2020
Total
fnds
£
649,601
982,156
1,631,758
1,490,247
1,490,247
141,511
135,645
277,156

The notes form part of these financial statements

Page 7

CYFLE BUILDING SKILLS L TO

BALANCE SHEET 31 AUGUST 2021

FIXED ASSETS
Tangible assets
CURRENT ASSETS
Debtors
Cash at bank
CREDITORS
Amounts falling due witin one year
NET CURRENT ASSETS
Notes
11
12
13
Unresticted
funds
£
9,621
32,219
316,415
348,634
(45,197)
303,437
TOTAL ASSETS LESS CURRENT LIABILITIES
313,058
NET ASSETS
FUNDS
Unresticted funds
TOTAL FUNDS
313,058
14		 Resticted
funds		 2021
Totl
funds
9,621
32,219
316,415
348,634
(45,197)
303,437
313,058
313,058
313,058
313,058		 2020
Total
funds
£
92,786
216,662
309,448
(32,292)
277,156
277,156
277,156
277,156
277,156

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ....... Z. i .. tYI.A.t ... �.�.2� .. and were signed on its behalf by:

The notes form part of these financial statements

Page 8

CYFLE BUILDING SKILLS LTD

CYFLE BUILDING SKILLS LTD
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2021
Cash flows from operating activites
Cash generatd from operations
Net cash provided by operating acivites
Cash fows from Investing activites
Purchase of tangible fixed asset
Interest recived
Notes
Net cash (used in)/provided by investing activites
Change In cash and cash equivalents In
the reporing period
Cash and cash equivalents at the
beginning of te reportng period
Cash and cash equivalent at the end of
the reporing period
2021
£
110,748
110,748
(10,995)
(10,995)
99,753
216,662
316,415		 2020
£
153,088
153,088
153,089
63,573
216,662

The notes form part of these financial statements

Page 9

CYFLE BUILDING SKILLS LTD

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2021 2020
£ £
Net Income for the reportng period (as per the Statement of Flnanclal
Activities)
Adjustments fr:
Depreciaton charges		 35,902
1,374		 141,511
98
Interest receved
Decrease in debtrs
lncrease/( decrease) in credtrs		 60,567
12,905		 (1)
72,159
(60,679)
Net cash provided by operations 110,748 153,088
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.9.20 Cash flow At31.8.21
£ £ £
Net cash
Cash at bank 216,662 99,753 316,415
216,662 99,753 316,415
Total 216,662 99,753 316,415

The notes form part of these financial statements

Page 10

CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charity is a private company limited by guarantee without share capital and is incorporated in England and Wales. The registered office is Ammanford Campus, Dyffryn Road, Ammanford, Carmarthenshire, SA18 3TA

Going Concern

The trust consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Presentational and functional currency

The presentational and functional currency is£ sterling.

Significant accounting Judgements and key sources of estimation uncertainty

Preparation of the accounts requires the Trust s and management to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include: - estimating the useful life of tangible fixed assets for the purposes of determining a depreciation charge;

Income

Grant income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Contribution income is recognised in the Statement of Financial Activities once the charity has received confirmation that a contribution will be received from the provider and the amount of income that will be received.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Costs have been allocated as far as possible between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly. Others have been apportioned based on the estimated usage of the resource.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles - 25% on cost - Computer equipment 33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued ...

Page 11

CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31 AUGUST 2021

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and In hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Flnanclal Instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.

Employee benefits

The Group provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined benefit and defined contribution pension plans.

Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

DONATIONS AND LEGACIES

Contributions
Other income
3.
INVESTMENT INCOME
Deposit account interest		 2021
£
519,047
137,900
656,947
2021
£
--
2020
£
543,304
106,297
649,601
2020
£
--

continued ...

Page 12

CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2021

4. INCOME FROM CHARITABLE ACTIVITIES

Activity
Grants
Charitble actvities
Grants received, included in the above, are as fllows:
CITS Grant
YRP Grant
Other Grants
Furlough Claims
5.
CHARITABLE ACTIVITIES COSTS
Charitble actvites
6.
SUPPORT COSTS
Charitble actvites
7.
NET INCOME/(EXPENDITURE)
Management
£
436,645
Net income/(expenditure) is stated afer charging/(crediting):
Depreciation • owned asset		 Direct
Cost
£
959,812
Finance
£
6,630		 2021
£
780,818
2021
£
337,382
95,125
153,021
195,290
780,818
Suppor
cost (s
note 6)
£
442,051
Human
resources
£
(1,224)
2021
£
1,374
2020
£
982,156
2020
£
330,704
100,427
130,689
420,336
982,156
Totals
£
1,401,863
Totals
£
442,051
2020
£
98

8, TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.

9. STAFF COSTS

STAFF COSTS
2021 2020
£ £
Wages and slaries
Other pension csts		 1,182,542
18,739		 1,311,833
15,683
1,201,281 1,327,516
The average monthly number of employees during te year ws as follow:
2021 2020
Employees 94 113
No employees recived emoluments in excess of £60,000.

continued ...

Page 13

CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2021

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donatons and legacies
649,601
Charitable activites
Charitble actvites
433,973
Investment income
Total
1,083,575
EXPENDITURE ON
Raising funds
Charitable activities
Charitble actvites
942,064
Total
942,064
NET INCOME
141,511
RECONCILIATION OF FUNDS
Total funds brought frward
135,645
TOTAL FUNDS CARRIED FORWARD
277,156
11.
TANGIBLE FIXED ASSETS
Motor
vehicles
£
COST
At 1 Septmber 2020
Additions
10,995
At 31 August 2021
10,995
DEPRECIATION
At 1 Septmber 2020
Charge for year
1,374
At 31 August 2021
1,374
NET BOOK VALUE
At 31 August 2021
9,621
--
At 31 August 2020
--		 Restrictd
funds
£
548,183
548,183
548,183
548,183
Computer
equipment
£
5,293
5,293
5,293
5,293
--
--		 Total
funds
£
649,601
982,156
1,631,758
1,490,247
1,490,247
141,511
135,645
277,156
Totls
£
5,293
10,995
16,288
5,293
1,374
6,667
9,621
--
--

continued ...

Page 14

CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2021

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtrs
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other txes
Other creditors
Acrued expenss
14.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in te above are as fllow:
Unrestricted funds
General fnd
Restrcted fnds
CITB
YRP
Welsh Government
TOTAL FUNDS
Comparatves for movement In fnds
Unrestricted funds
General fnd
Designated closure costs
TOTAL FUNDS

continued ...

Page 15

CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 AUGUST 2021

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
1,083,575
Restricted fnds
CITB
330,704
YRP
100,427
Welsh Government
117,052
548,183
TOTAL FUNDS
1,631,758
Resourcs
expended
£
(942,064)
(330,704)
(100,427)
(117,052)
(548,183)
(1,490,247)		 Movement
in funds
£
141,511
141,511

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.9.19 in funds 31.8.21
£ £ £
Unrestricted funds
General fnd 95,645 177,413 273,058
Designated closure costs 40,000 40,000
135,645 177,413 313,058
TOTAL FUNDS 135,645 177,413 313,058

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
1,935,812
(1,758,399)
Restricted fnds
CITB
668,086
(668,086)
YRP
195,552
(195,552)
Welsh Government
270,073
(270,073)
1,133,711
(1,133,711)
TOTAL FUNDS
3,069,523
(2,892,110)		 Movement
in funds
£
177,413
177,413

Unrestricted funds

Unrestricted funds can be deployed in any way the charity sees fit, apart from designated reserves which are set aside for a specific purpose.

Designated closure costs

Designated closure costs are made up as follows:

Loan repayments
Redundancy allowance for staf
Oher debtr allowances
Total		 £
10,000
20,000
1
40.000

continued ...

Page 16

CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS· conUnued FOR THE YEAR ENDED 31 AUGUST 2021

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st August 2021. Some of the trust s are also directors of companies and apprentices from Cyfle Building Skills Ltd work on their projects. The companies make regular donations similar to other organisations and are no way given any special terms or treatments.

ULTIMATE CONTROLLING PARTY

The Charity is controlled by its trustees.

Page 17

CYFLE BUILDING SKILLS LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021

INCOME AND ENDOWMENTS
Donations and legacles
Contributions
Oter income
Investent Income
Deposit acount interest
Charltable actvites
Grant
Total Incoming resources
EXPENDITURE
Charltable actvites
Apprentice wages
Work experience
Apprentice equipment
Apprentice travel
Apprentice training
Vehicle csts
On Site Hub
Suppor costs
Management
Wages
Pensions
Insurance
Travelling
Telephone
Office expenses
Meeting andevents
Sundries
Counsellor
Donations
Motor vehicles
Computer depreciaton
Finance
Consultancy
Accountancy
Bank charges
Human resources
HR support
Total resourcs expended
Net Income
2021
£
519,047
137,900
656,947
780,818
1,437,765
817,395
11,041
500
48,873
5,456
1,094
75,453
959.812
365,147
18,739
3,313
5,237
3,912
22,331
4,138
1,434
4,420
6,600
1,374
436,645
600
5,867
163
6,630
(1,224)
1,401,863
35,902		 2020
£
543,304
106,297
649,601
982,156
1,631,758
946,143
18,417
9,087
40,707
22,658
1,037.012
365,690
15,683
3,138
14,967
4,064
14,544
2,400
860
9,341
12,060
98
442,845
2,600
6,188
174
8,962
1,428
1,490,247
141,511

This page does not form part of the statutory financial statements

Page 18