**REGISTERED CHARITY NUMBER:**
## **TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR**
**Cylch Meithrin Cynwyd**
Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN
**Cylch Meithrin Cynwyd**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
||Page|
|---|---|
|Trustees' Report|1 to 2|
|Independent Examiner's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to the Financial Statements|6 to 10|
|Detailed Statement of Financial Activities|11 to 12|
**Cylch Meithrin Cynwyd**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
## **Principal address**
Ysgol Isaf Hall Cynwyd Corwen Denbighshire LL21 0HR
## **Trustees**
Ms A Lawrence Trustee Mrs A M Ellison Ms L Davies
## **Independent examiner**
Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **TRUSTEES RESPONSIBILITY STATEMENT**
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity 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 charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
1
**Cylch Meithrin Cynwyd**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021**
Approved by order of the board of trustees on 22 April 2021 and signed on its behalf by:
Mrs A M Ellison - Trustee
2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CYLCH MEITHRIN CYNWYD**
I report on the accounts for the year ended 31 March 2021, which are set out on pages four to ten.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. that accounting records were not kept as required by section 130 of the Act; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of the Act; or
4. that there is further information needed for a proper understanding of the accounts.
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Declan Connolly Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN
Date: .............................................
3
## **Cylch Meithrin Cynwyd**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|2021
Unrestricted
fund
Notes
£
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Income
61,574
Activities for generating funds
3
2,180
**Total incoming resources**
63,754
**RESOURCES EXPENDED**
**Costs of generating funds**
Cost of generating income
4
3,773
Fundraising trading: cost of goods sold and other
costs
5
62,317
**Total resources expended**
66,090
**NET INCOMING/(OUTGOING)**
**RESOURCES**
(2,336)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
3,400
**TOTAL FUNDS CARRIED FORWARD**
1,064|2020
Total
funds
£
81,800
882
82,682
8,638
74,478
83,116
(434)
3,834
3,400|
|---|---|
The notes form part of these financial statements
4
**Cylch Meithrin Cynwyd**
## **BALANCE SHEET AT 31 MARCH 2021**
|2021
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
8
339
Cash at bank and in hand
6,736
7,075
**CREDITORS**
Amounts falling due within one year
9
(1,011)
**NET CURRENT ASSETS**
6,064
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
6,064
**CREDITORS**
Amounts falling due after more than one year
10
(5,000)
**NET ASSETS**
1,064
**FUNDS**
11
Unrestricted funds
1,064
**TOTAL FUNDS**
1,064|2020
Total
funds
£
-
5,455
5,455
(2,055)
3,400
3,400
-
3,400
3,400
3,400|
|---|---|
The financial statements were approved by the Board of Trustees on 22 April 2021 and were signed on its behalf by:
Mrs A M Ellison -Trustee
The notes form part of these financial statements
5
**Cylch Meithrin Cynwyd**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. GOVERNMENT GRANTS**
Covid-19 related Job Retention Scheme government grants are included in the 'grant income' line item. There are no unfulfilled conditions or other contingencies attaching to these grants. The grants are recognised under the performance model and the income recognised over the period of furlough on a straight-line basis.
## **2. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
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.
## **Financial instruments**
## **Financial instruments**
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic Financial Assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Classification of financial liabilities**
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is ant contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **Taxation**
The charity is exempt from tax on its charitable activities.
6
**Cylch Meithrin Cynwyd**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021**
## **2. ACCOUNTING POLICIES - continued**
## **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.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **3. ACTIVITIES FOR GENERATING FUNDS**
|Raffle
**COST OF GENERATING INCOME**
Rent
Support costs|2021
£
2,180
2021
£
1,686
2,087
3,773|2020
£
882|
|---|---|---|
|||2020
£
5,203
3,435|
|||8,638|
## **4. COST OF GENERATING INCOME**
## **5. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS**
|Hire of plant and machinery
Craft and display
Toys and play
Support costs|2021
£
-
343
601
61,373
62,317|2020
£
319
1,064
1,047
72,048|
|---|---|---|
|||74,478|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020 .
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020 .
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**Cylch Meithrin Cynwyd**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021**
|**7.**
**STAFF COSTS**
2021
£
Wages and salaries
57,947
Social security costs
510
Other pension costs
992
59,449
The average monthly number of employees during the year was as follows:
2021
Employees
4
No employees received emoluments in excess of £60,000.
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2021
£
Trade debtors
339
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2021
£
Trade creditors
61
Taxation and social security
507
Other creditors
443
1,011
**10.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
2021
£
Other creditors
5,000
**11.**
**MOVEMENT IN FUNDS**
Net movement
At 1.4.20
in funds
At
£
£
**Unrestricted funds**
General fund
3,400
(2,336)
**TOTAL FUNDS**
3,400
(2,336)|2020
£
69,102
601
758|2020
£
69,102
601
758|
|---|---|---|
||70,461||
||2020
5
2020
£
-
2020
£
-
1,755
300
2,055
2020
£
-
31.3.21
£
1,064
1,064|2020
5|
|||2020
£
-|
|||2020
£
-
1,755
300|
|||2,055|
|||2020
£
-|
|||1,064|
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**Cylch Meithrin Cynwyd**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021**
## **11. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement in||
|---|---|---|---|---|
||resources|expended|funds||
||£|£|£||
|**Unrestricted funds**|||||
|General fund|63,754|(66,090)|(2,336)||
|**TOTAL FUNDS**|63,754|(66,090)|(2,336)||
|**Comparatives for movement in funds**|||||
|||Net movement|||
||At 1.4.19|in funds|At 31.3.20||
||£|£|£||
|**Unrestricted Funds**|||||
|General fund|3,834|(434)|3,400||
|**TOTAL FUNDS**|3,834|(434)|3,400||
||||||
|Comparative net movement in funds, included in the above are as follows:|||||
||Incoming|Resources|Movement in||
||resources|expended|funds||
||£|£|£||
|**Unrestricted funds**|||||
|General fund|82,682|(83,116)|(434)||
|**TOTAL FUNDS**|82,682|(83,116)|(434)||
A current year 12 months and prior year 12 months combined position is as follows:
|At
**Unrestricted funds**
General fund
**TOTAL FUNDS**|Net movement
1.4.19
in funds
At 31.3.21
£
£
£
3,834
(2,770)
1,064
3,834
(2,770)
1,064|Net movement
1.4.19
in funds
At 31.3.21
£
£
£
3,834
(2,770)
1,064
3,834
(2,770)
1,064|
|---|---|---|
|||1,064|
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**Cylch Meithrin Cynwyd**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021**
## **11. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement in|
|---|---|---|---|
||resources|expended|funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|146,436|(149,206)|(2,770)|
|**TOTAL FUNDS**|146,436|(149,206)|(2,770)|
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## **Cylch Meithrin Cynwyd**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**INCOMING RESOURCES**
**Income**
Donations
Fees
Flintshire CC childcare
Other income
Grants
**Activities for generating funds**
Raffle
**Total incoming resources**
**RESOURCES EXPENDED**
**Cost of generating income**
Rent
**Fundraising trading: cost of goods sold and other costs**
Hire of plant and machinery
Craft and display
Toys and play
**Support costs**
**Management**
Telephone and internet
Postage and stationery
Advertising
Sundries
It costs
**Other staff costs**
Uniforms
**Other**
Cleaning products
**Wages and operational costs**
Wages
Social security
Pensions
Food
Accountancy
Legal fees
**Total resources expended**|2021
£
22
40,567
-
112
20,873
61,574
2,180
63,754
1,686
-
343
601
944
22
641
40
206
312
1,221
62
594
57,947
510
992
326
1,768
40
61,583
66,090|2020
£
-
28,847
52,415
538
-|
|---|---|---|
|||81,800
882|
|||82,682
5,203
319
1,064
1,047|
|||2,430
410
342
-
650
477|
|||1,879
-
253
69,102
601
758
1,237
1,285
368|
|||73,351|
|||83,116|
This page does not form part of the statutory financial statements
11
**Cylch Meithrin Cynwyd**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
**Net expenditure**
|2021
£
(2,336)|2020
£
(434)|
|---|---|
This page does not form part of the statutory financial statements
12