**REGISTERED COMPANY NUMBER** : **11193702 (ENGLAND AND WALES) REGISTERED CHARITY NUMBER: 1180681**
**BLACK MOUNTAINS COLLEGE PROJECT (A company limited by guarantee)**
**ANNUAL REVIEW AND FINANCIAL STATEMENTS**
**FOR THE PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
**BLACK MOUNTAINS COLLEGE PROJECT**
## **CONTENTS**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
||**Page**|
|---|---|
|**Legal and Administrative Details**|**1**|
|**Report of the Trustees**|**2**|
|**Report of the Independent Examiner**|**6**|
|**Statement of Financial Activities**|**7**|
|**Balance Sheet**|**8**|
|**Notes to the Financial Statements**|**9**|
**BLACK MOUNTAINS COLLEGE PROJECT**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
|**Directors/Trustees**|||
|---|---|---|
||Dr William Newton-Smith||
||Mr Chris Blake||
||Ms Emily Durrant|(Resigned 3rdDecember 2021)|
||Mrs Mari Fforde||
||Mr Havard Prosser||
||Mr George Littlejohn||
||Mr Karl Wills||
||Ms Sue Pritchard|(Resigned 6thJune 2022)|
||Mr Shirish Kulkarni|(Appointed 3rdDecember 2021)|
||Ms Alice Taherzadeh|(Appointed 1stJuly 2022)|
||Ms Keri Facer|(Appointed 1stJuly 2022)|
|**Registered Office**|Unit 3 Great House Barns||
||New Street||
||Talgarth||
||Brecon||
||LD3 0AH||
|**Registered Charity Number**|1180681||
|**Registered Company Number**|11193702||
|**Reporting Accountants**|W J James & Co||
||Bishop House||
||10 Wheat Street||
||Brecon||
||Powys||
|**Bankers**|Barclays Bank Plc||
||Worcester 2||
||Leicestershire||
||England||
||LE87 2BB||
1
**BLACK MOUNTAINS COLLEGE PROJECT**
## **REPORT OF THE TRUSTEES**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **AIMS AND OBJECTIVES**
As stated in its Articles, Black Mountains College Project (BMC) is a project for the establishment of a college of higher and further education for the public good.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Black Mountains Community Project, trading as BMC, is a company limited by guarantee, registered with Companies House in England and Wales with the number 11193702.
Registered office address is Unit 3 Great House Barns, New Street, Talgarth, Brecon, Wales, LD3 0AH
Company type is listed as ‘Private Limited Company by guarantee without share capital use of 'Limited' exemption’. Incorporated on 7 February 2018.
The nature of BMC business (SIC) is listed as:
- 85410 - Post-secondary non-tertiary education
- 85421 - First-degree level higher education
- 85600 - Educational support services
BMC is registered with The Charity Commission, with the number: 1180681.
Registration was approved on 14 November 2018.
The charity is governed by the Memorandum and Articles of Association lodged with Companies House and dated 7 February 2018.
## **RECRUITMENT AND APPOINTMENT OF TRUSTEES**
Six trustees were appointed at the founding board meeting on February 4, 2018 as directors of the company. A further trustee was appointed to the board on 4 January 2020 bringing the total trustee representatives to seven. In December 2020 four additional trustees were appointed. In March two resigned and in June a further one stepped down.
The existing six trustees are registered as trustees with The Charity Commission and declared their other directorships and trusteeships at that time and any conflicts of interest. There were no conflicts of interest.
Care was taken to recruit a balanced cohort of trustees with a range of expertise and professional experience. The charity maintains a skills matrix of its trustees to ensure a balance.
The articles of the charity were amended in 2022 so that trustees serve for fixed terms of three years, for a maximum of two terms.
Chris Blake was appointed interim chair at the AGM in June 2022, taking over from Karl Wills.
Three other trustees were appointed this financial year, Shirish Kulkarni, Keri Facer and Alice Taherzadeh.
Two trustees resigned: Sue Pritchard and Emily Durrant
2
**BLACK MOUNTAINS COLLEGE PROJECT**
## **REPORT OF THE TRUSTEES**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **CHAIRMAN’S REPORT**
## **Overview**
The year end was changed from Febuary 28 to July 31 to reflect the operating calendar of the academic year of the college and so this report covers the period 1 March 2021 to 31 July 2022.
The charity had a positive fourth year, launching further education courses in 2021 and recruiting a second cohort in autumn 2022 and a full short course programme in 2022. Its degree programme was validated by Cardiff Metropolitan University and work undertaken to launch student recruitment for the launch of that in 2023.
Income began to be diversified during the period, with philanthropic fundraising still playing a major role but student fee income rising as a proportion alongside short course revenues. A social investment raise was initiated in 2022, forecast to complete later in the calendar year.
## **Delivery**
## _Further Education_
During the financial period BMC commenced further education teaching with two NVQ level 2 courses validated by Neath Port Talbot College (NPTC Group) and accredited by City and Guilds.
16 students were enrolled for the academic year Sept 2021/2.
The same two level 2 courses were planned for 2022/3 and an increase on that number was forecast for September 2022/3.
## _Higher Education_
The BMC degree BA (Hons) Sustainable Futures: Arts, Ecology and Systems Change was validated by our academic partner Cardiff Metropolitan University in June 2022 and admissions launched at the end of the financial year for September 2023 entry.
## _Short Courses_
A full programme was resumed in 2022 after limitations due to Covid-19. Over 1000 people participated in a range of online and in person one day and multi-day courses. Offerings were directed at a range of different audiences – young people with the free Ecological Futures Camp sponsored by Welsh Water, and adults with retreats. Development was undertaken to broaden audiences both internationally and to corporate and organisational clients.
Income was from a range of sources – grant funding from Powys for adult education, a pay what you can fee structure, corporate sponsorship and from the Ashley Family Foundation and full commercial fees.
## **PUBLIC BENEFIT**
The charity was registered with The Charity Commission, met the requirements of registration and has had regard to the Commission’s guidance on public benefit during the period.
3
## **BLACK MOUNTAINS COLLEGE PROJECT**
## **REPORT OF THE TRUSTEES**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **FINANCIAL REVIEW**
The charity received income from grants and gifts and tuition fees from the Welsh government via a third party SLA with NPTC Group.
## **Income**
## _Income_
Main sources are as follows:
The Arwain grant (Welsh Government Powys County Council LEADER ‘ARWAIN’ funding) granted a consortium, of which BMC is a part, to research and establish a ‘sustainable skills cluster’ for Powys.
An anonymous foundation granted BMC £50,000 towards academic development and the funding of an Academic Lead post.
The National Lottery Community Fund grant from the previous year carried forward into this financial year to support the development of further education programmes.
- Lindenleaf Foundation grant towards core costs - £10,000
- Garfield Weston Foundation
- Mark Leonard Trust
- Princes Countryside Fund
- Powys Community Renewal Fund
- NPTC Group
## _Human Resources_
During the period BMC hired a Finance Officer, a Chief Operations Officer, a Student Support Officer and a Marketing Support Officer
## _Expenditure_
The main expenditures were on operations, staff and development of new courses.
As of the close of the reporting period, the charity was on a sound financial footing with operating costs fully covered until end 2022.
## **RESERVES POLICY**
As at 31 July 2022 Black Mountains College Project held reserves of £56,499. It is the aim of the trustees to hold reserves sufficient to cover all liabilities and operating expenses (salaries, rent, overheads) for 6 months ahead.
It is the policy of the charity to hold reserves sufficient to cover all liabilities and operating expenses for 3 months ahead.
4
**BLACK MOUNTAINS COLLEGE PROJECT**
## **REPORT OF THE TRUSTEES**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The trustees (who are also the directors of Black Mountains College Project for the purposes of company law) are responsible for preparing the Trustees’ Annual Report 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 statements 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 Charities SORP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
…………………………………………… Chris Blake Chair
…………………… Date
5
**BLACK MOUNTAINS COLLEGE PROJECT**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BLACK MOUNTAINS COLLEGE PROJECT**
I report to the charity trustees on my examination of the accounts of the company for the period ending 31 July 2022 which are set out on pages 7 to 17.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 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.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
_1._ accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
_2._ the accounts do not accord with those records; or
_3._ the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
_4._ the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J M Roderick BSc ACA W J James & Co. Chartered Accountant Bishop House 10 Wheat Street Brecon Powys
…………………..
6
**BLACK MOUNTAINS COLLEGE PROJECT**
**STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
|**Note**
**Incoming From:**
Donations
Charitable Activities
_Grants and contracts_
**2**
_Higher and Further Education income_
Investment income
Other income
**3**
**Total Income**
**Expenditure On:**
Charitable activities
**4**
**Total Expenditure**
**Net Income/(expenditure)**
**Transfers between funds**
**11**
**Net Movement in funds**
**Total funds at start of period**
**Total funds at end of period**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Period from 1**
**Mar 2021 to 31**
**Jul 2022**
Year ended 28
Feb 2021
**£**
**£**
**£**
£
68,616
12,000
80,616
94,919
123,503
173,314
296,817
117,225
73,342
-
73,342
-
24
-
24
1
7,775
-
7,775
4,506
273,260
185,314
458,574
216,651
263,382
183,001
446,383
164,553
263,382
183,001
446,383
164,553
9,878
2,313
12,191
52,098
(14,622)
14,622
-
-
(4,744)
16,935
12,191
52,098
61,243
76,501
137,744
85,646
56,499
93,436
149,935
137,744|
|---|---|
The Charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing
**The comparative funds are detailed in note 8 The notes on pages 9 to 17 form part of these financial statements**
**7**
**BLACK MOUNTAINS COLLEGE PROJECT**
**BALANCE SHEET**
## **AS AT 31 JULY 2022**
|**Note**
**Fixed Assets**
Tangible fixed assets
**9**
**Current Assets**
Debtors
**10**
Cash at bank
**Creditors : Amounts falling**
**due within one year**
**11**
**Net Current assets**
**Total assets less current liabilities**
**12**
**Net assets**
**Funds**
**Unrestricted funds**
General funds
**13**
**Restricted funds**
**13**
**Creditors: Amounts falling due**
**after more than one year**|**Period ended**
**31 July 2022**
**£**
10,171
2,450
199,859
202,309
(2,545)
199,764
209,935
(60,000)
149,935
56,499
93,436
149,935|**Year ended 28**
**February 2021**
£
-
13
143,841
143,854
(6,110)
137,744
137,744
-
137,744
61,243
76,501
137,744|
|---|---|---|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ending 31 July 2022.
The members have not required the company to obtain an audit of its financial statements for the period ending 31 July 2022 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
- (a) ensuring that the company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial period and of its profit or loss for each financial period in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
Approved on behalf of the board on …....................
…………….. Chris Blake Chairman
**The notes on pages 9 to 17 form part of these financial statements**
**8**
**BLACK MOUNTAINS COLLEGE PROJECT**
**NOTES TO THE FINANCIAL STATEMENTS PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **1 Accounting policies**
## **Basis of accounting**
The financial statements have been prepared under the historical cost convention and 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 United Kingdom and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.
Black Mountains College Project meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
There are no material uncertainties about the charity's ability to continue as a going concern, despite the significant uncertainty being caused by the worldwide COVID-19 crisis. Whilst the Trustees expect there to be an impact on the charity's operation and reserves in the coming months and years, the charity has sufficient reserves to be able to meet these challenges.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
## **Incoming resources**
Voluntary income including donations, gifts and grants that provide core funding or are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when:
The donor specifies that the grant or donation must only be used in future accounting periods; or
The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income received under contract or, where entitlement to grant funding is subject to specific performance conditions, is recognised as earned (as the related goods or services are provided). Grant income included in this category provides funding to support activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when grants are received in advance of the event to which they relate.
## **Volunteers and donated services and facilities**
The value of services provided by volunteers is not incorporated into these financial statements.
## **Resources expended**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. Contractual arrangements and performance related grants are recognised as goods or services supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable.
Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities include expenditure associated with the provision of advocacy services and include both the direct costs and support costs relating to this activity.
**9**
**BLACK MOUNTAINS COLLEGE PROJECT**
**NOTES TO THE FINANCIAL STATEMENTS**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **1 Accounting policies**
## **Resources expended (continued…)**
Governance costs include those incurred in the governance of the charity and its assets, and are primarily associated with constitutional and statutory requirements. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
Costs are apportioned to activities as considered appropriate.
## **Debtors**
Debtors are recognised at their settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts.
## **Cash at bank and in hand**
Cash at 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 of the deposit of similar account.
## **Grants receivable**
Revenue grants are credited to the income and expenditure account on a receipts basis unless they are in respect of a specific expense, when they are credited in the period in which expenditure is incurred.
Capital grants are matched with the relevant expenditure as and when incurred. Until the expenditure is incurred, the grants are carried forward.
## **Creditors**
Creditors and provisions are recognised where the charity has a present obligation rom a past event that will probably result in the transfer of fund to a third party and the amount due to settle the obligation 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.
## **Pensions**
The charitable company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the charitable company, being invested with insurance companies. Pension costs charged in the Statement of Financial Activities represents contributions payable by the charitable company in the year.
## **Fixed assets**
Fixed assets costing more than £500 have been capitalised at cost.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings- 25% straight line
## **Fund accounting**
Funds held by the charity are either:
_Unrestricted general funds_ – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
_Restricted funds_ – these are funds that 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.
_Designated funds_ – these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
**10**
**BLACK MOUNTAINS COLLEGE PROJECT NOTES TO THE FINANCIAL STATEMENTS PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **2 Grants and contracts**
**For period ended 31 July 2022**
|National Lottery Community Fund
Arwain Rural Development Programme
Leader Plus European Funds
Powys County Council
HMRC JRS Grant
MWMG
DWP
Garfield Weston
C F In Wales
Mark Leonard Trust
The A Team Foundation
The Prince's Countryside Fund
Brecon Beacons Natinoal Park
**For year ended 28 February 2021**
National Lottery Community Fund
Arwain Rural Development Programme
Leader Plus European Funds
Powys County Council
HMRC JRS Grant
**3**
**Other income**
Training services
Employment Allowance|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Period from 1**
**Mar 2021 to 31**
**Jul 2022**
**Year ended 28**
**Feb 2021**
**£**
**£**
**£**
£
-
42,518
42,518
59,625
-
56,734
56,734
10,000
3,503
-
3,503
12,777
-
13,970
13,970
-
-
6,175
6,175
-
90,000
-
90,000
-
-
15,000
15,000
-
30,000
-
30,000
-
-
23,000
23,000
-
-
11,000
11,000
-
-
4,917
4,917
-
123,503
173,314
296,817
117,225
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Year ended 28**
**Feb 2021**
**Year ended 28**
**Feb 2020**
**£**
**£**
**£**
£
-
59,625
59,625
16,750
10,000
-
10,000
-
12,777
-
12,777
-
22,777
94,448
117,225
65,786
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Period from 1**
**Mar 2021 to 31**
**Jul 2022**
**Year ended 28**
**Feb 2021**
**£**
**£**
**£**
£
-
-
-
506
7,775
-
7,775
4,000
7,775
-
7,775
4,506
-
34,823
34,823
49,036
-
-
-
34,823|
|---|---|
All movements in 2021 were in unrestricted funds
**11**
**BLACK MOUNTAINS COLLEGE PROJECT NOTES TO THE FINANCIAL STATEMENTS PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **4 Charitable activities**
## **For period ended 31 July 2022**
|Governance
Allocation is based on actual costs
**Support costs**
Premises costs
Office costs
Other costs
Establishment of a college of
higher and further education|**Wages &**
**salaries**
**Direct costs**
**Support cost**
**£**
**£**
**£**
217,426
151,969
72,368
-
4,620
-
217,426
156,589
72,368
incurred|**Period from 1**
**Mar 2021 to 31**
**Jul 2022**
**Year ended 28**
**Feb 2021**
**£**
£
441,763
162,889
4,620
1,664
446,383
164,553
**Period from 1**
**Mar 2021 to 31**
**Jul 2022**
**Year ended 28**
**Feb 2021**
**£**
£
7,318
2,521
57,235
15,954
7,815
248
72,368
18,723|
|---|---|---|
|**For year ended 28 February 2021**
Governance
Establishment of a college of
higher and further education|**Wages &**
**salaries**
**Direct costs**
**Support cost**
**Year ended 28**
**Feb 2021**
**Year ended 28**
**Feb 2020**
**£**
**£**
**£**
**£**
£
117,784
26,382
18,723
162,889
256,436
-
1,664
-
1,664
1,200|
|---|---|
||117,784
28,046
18,723
164,553
257,636|
Allocation is based on actual costs incurred
|**Support costs**
Premises costs
Office costs
Other costs|**Year ended 28**
**Feb 2021**
**Year ended 28**
**Feb 2020**
**£**
£
2,521
1,471
15,954
1,962
248
187
18,723
3,620|
|---|---|
**12**
**BLACK MOUNTAINS COLLEGE PROJECT**
**NOTES TO THE FINANCIAL STATEMENTS**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
- **5 Net income for the year**
|**This is stated after charging:**
Independent examiner's fees
- for independent examination
- for other accountancy services
Trustees remuneration
Payment of Trustees' travel expenses nil (2021:Nil)|**Period from 1**
**Mar 2021 to 31**
**Jul 2022**
**Year ended 28**
**Feb 2021**
**£**
£
1,940
1,664
2,680
-
-
-
-
-|
|---|---|
No Trustee received remuneration during the year nor any person connected with them, received any remuneration from the charity during the year of previous year.
During the year nil (2021: Nil) was paid £nil (2021: Nil) for travel costs and out of pocket expenses.
## **6 Staff costs and numbers**
|The aggregate payroll costs were:
Wages and salaries
Social security costs
Pension|**Period from 1**
**Mar 2021 to 31**
**Jul 2022**
**Year ended 28**
**Feb 2021**
**£**
£
199,507
106,944
14,317
8,733
3,602
2,107
217,426
117,784|
|---|---|
No employee received emoluments of more than £60,000.
The total employment benefits received by key management personnel in the year were £43,651 (2021: £44,040).
The average weekly number of employees during the year, calculated on the basis of full time equivalents, was as follows:
|Charitable activities|**Period from 1**
**Mar 2021 to 31**
**Jul 2022**
**Year ended 28**
**Feb 2021**
**No.**
No.
**11**
5
**11**
3|
|---|---|
## **7 Taxation**
The charity is exempt from tax on income and gains falling with section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
**13**
**BLACK MOUNTAINS COLLEGE PROJECT**
**NOTES TO THE FINANCIAL STATEMENTS PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
**----- Start of picture text -----**
8 Comparative Statement of Financial Activity figures
Unrestricted Restricted Year ended 28
Funds Funds Feb 2021
£ £ £
Incoming From:
Donations 44,919 50,000 94,919
Charitable Activities
Grants and contracts 22,777 94,448 117,225
Investment income 1 - 1
Other income 4,506 - 4,506
Total Income 72,203 144,448 216,651
Expenditure On:
Charitable activities 83,741 80,812 164,553
Total Expenditure 83,741 80,812 164,553
Net Income/(expenditure) (11,538) 63,636 52,098
Total funds at start of period 72,781 12,865 85,646
Total funds at end of period 61,243 76,501 137,744
9 Tangible Fixed Assets
Fixtures
and fittings Total
£ £
COST OR VALUATION
Additions 13,561 13,561
At 31 July 2022 13,561 13,561
DEPRECIATION
Charge for the year 3,390 3,390
At 31 July 2022 3,390 3,390
NET BOOK VALUE
At 31 July 2022 10,171 10,171
10 Debtors
Period ended Year ended
31/07/2022 28/02/2021
£ £
Other Debtors 13 13
-
Social security and other taxes 2,437
2,450 13
**----- End of picture text -----**
**14**
**BLACK MOUNTAINS COLLEGE PROJECT NOTES TO THE FINANCIAL STATEMENTS PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **11 Creditors: amounts falling due within one year**
|Accruals and deferred income
Social security and other taxes
Other creditors
**Creditors: amounts falling due after more than one year**
Other Loans|**Period ended**
**31/07/2022**
**Year ended**
**28/02/2021**
**£**
£
750
750
-
1,338
1,795
4,022
2,545
6,110
**Period ended**
**31/07/2022**
**Year ended**
**28/02/2021**
**£**
£
60,000
-
60,000
-|
|---|---|
## **12 Creditors: amounts falling due after more than one year**
## **13 Movement in funds**
## **For period ended 31 July 2022**
|**Restricted funds**
National Lottery Community Fund
Full Circle
Climate Boost
Welsh Water
Be The Earth
Powys County Council
Department & Work in Pensions
Ashley Family Foundation
The A Team Foundation
The Prince's Countryside Fund
Brecon Beacons National Park
Arwain Rural Development
Programme Leader Plus European
Funds|**At**
**Incoming**
**Outgoing**
**At**
**01-Mar-21**
**resources**
**resources**
**Transfers**
**31-Jul-22**
**£**
**£**
**£**
**£**
**£**
16,296
42,518
(35,307)
-
23,507
50,000
-
(41,618)
-
8,382
15,000
-
(6,703)
-
8,297
-
10,000
-
-
10,000
-
2,000
(2,000)
-
-
-
40,887
(54,106)
13,219
-
-
6,175
(5,550)
-
625
-
15,000
-
-
15,000
-
23,000
-
-
23,000
-
11,000
(6,375)
-
4,625
-
4,917
(6,320)
1,403
-
-
(4,795)
29,817
(25,022)
-|
|---|---|
||76,501
185,314
(183,001)
14,622
93,436|
|**Unrestricted funds**
General funds|61,243
273,260
(263,382)
(14,622)
56,499|
||61,243
273,260
(263,382)
(14,622)
56,499|
|||
|**Total funds**|137,744
458,574
(446,383)
-
149,935|
**15**
**BLACK MOUNTAINS COLLEGE PROJECT**
**NOTES TO THE FINANCIAL STATEMENTS**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
**13 Movement in funds** _**(Continued)**_
**For year ended 28 February 2021**
|**Restricted funds**
National Lottery Community Fund
Full Circle
Climate Boost
Arwain Rural Development
Programme Leader Plus European
Funds|**At**
**Incoming**
**Outgoing**
**At**
**01-Mar-20**
**resources**
**resources**
**Transfers**
**28-Feb-21**
**£**
**£**
**£**
**£**
**£**
12,865
44,625
(41,194)
-
16,296
-
50,000
-
-
50,000
-
15,000
-
-
15,000
(39,618)
-
34,823
-
(4,795)|
|---|---|
||12,865
144,448
(80,812)
-
76,501|
|**Unrestricted funds**
General funds|72,781
72,203
(83,741)
-
61,243|
||72,781
72,203
(83,741)
-
61,243|
|||
|**Total funds**|85,646
216,651
(164,553)
-
137,744|
Restricted funds represent grants received for specific purposes. When the expenditure to which these grants relate is incurred it is charged to the fund in the Statement of Financial Activities.
The National Lottery Community Fund relates to monies received that are restricted for further education support, inlcuding boost for climate related investement.
The Arwain Rural Development Programme Leader Plus European Fund relates to money received to be used for options appraisal work on campus sites and green energy potential.
The Full Circle - a grants for academic development, to support and academic lead
Welsh Water - this represents a one off sponsorships for the young peoples camp.
Be The Earth - represent a grant received toward the delivery of a short course
Powys County Council - represents grant funding received for short course and NVQ course delivery
Department & Work in Pensions - These are funds provided to create jobs for young people at risk of long-term unemployment and help then get their first steps on the jobs ladder.
Ashley Family Foundation relates to grant funding received for the Ecological Future Camp Short course and development costs
The A Team Foundation represents grant funding received towards the Chief Operating Officers salary
The Prince's Countryside Fund relates to grant funding received towards the funding of the short course coordinators salary.
Brecon Beacons National Park represent funding received toward Chainsaw training course.
The transfer in 2022 of £14,622 from the general fund to the Powys County Council (£13,219) and Brecon Beacons National park (£1,403) is to cover the deficits on these projects .
Climate Boost - represents a one off supplement to our National Lottery Community Fund People and Places Fund to boot climate action and reducing emissions.
**16**
**BLACK MOUNTAINS COLLEGE PROJECT**
**NOTES TO THE FINANCIAL STATEMENTS**
## **PERIOD FROM 1 MARCH 2021 TO 31 JULY 2022**
## **14 Analysis of unrestricted net assets**
|**For period ended 31 July 2022**
**Restricted funds**
**Unrestricted funds**
**For year ended 28 February 2021**
**Restricted funds**
**Unrestricted funds**|**Other**
**Total**
**Net assets**
**£**
**£**
93,436
93,436
56,499
56,499
149,935
149,935
**Other**
**Total**
**Net assets**
**£**
**£**
76,501
76,501
61,243
61,243
137,744
137,744|
|---|---|
## **15 Legal Status of the charity**
Black Mountains College Project is a private company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
## **15 Related Party Transactions**
There were not related party transactions in the year.
**17**