## **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**|to**6**|
|**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**|to**17**|
|**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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- - make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **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:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2021 and of its incoming resources and application of resources, Including its income and expenditure, for the year then ended;
- - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- - have been prepared in accordance with the requirements of the Companies Act 2006.
-
## **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
- In our opinion, based on the **work** undertaken in the cour[s] e of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
## 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:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trust s.
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;
- determining the value of designated funds needed at the year end to meet specific future expenditure.
## **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 and**events**
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