CHARITY REGISTRATION NUMBER: 216659
Rhayader Market Hall & Smithfield Trust Unaudited Financial Statements
31 March 2022
FRANCIS GRAY CHARTERED ACCOUNTANTS
Chartered accountants Ty Madog 32 Queens Road Aberystwyth Ceredigion SY23 2HN
Rhayader Market Hall & Smithfield Trust
Financial Statements
Year ended 31 March 2022
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Statement of cash flows | 6 |
| Notes to the financial statements | 7 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 16 |
| Notes to the detailed statement of financial activities | 17 |
Rhayader Market Hall & Smithfield Trust
Trustees' Annual Report
Year ended 31 March 2022
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.
Reference and administrative details
Registered charity name Rhayader Market Hall & Smithfield Trust Charity registration number 216659 Principal office Llwyncwtta Farm Rhayader Powys LD6 5NT The trustees Kelvin Curry Robert Lewis John Price David Owen Evans F.R.I.C.S John Jones Henry Thomas Owain Pugh Lee Price Clare Evans Christian Walton (Served from 1 April 2021 to 1 Sheree Lewis April 2021) Brian Rees (Appointed 1 April 2021) Company secretary Sian Davies Independent examiner Robert Gray F.C.A Ty Madog 32 Queens Road Aberystwyth Ceredigion SY23 2HN
Structure, governance and management
The governing documents of the charity are the Schemes of the 27th August 1909 and 30th May 1922.
1
Rhayader Market Hall & Smithfield Trust
Trustees' Annual Report (continued)
Year ended 31 March 2022
Objectives and activities
The objects of the charity are "to benefit the public by providing and maintaining, subject to and in conformity with, the provisions of the scheme of 1909, a market place for the use of persons attending the fairs and weekly markets held in the ancient borough of Rhayader and a convenient place for the reception of cattle brought for a sale at the said fairs"
Achievements and performance
The Trust has continued to maintain and enhance the market place facility during the year under review. In particular, new weighing equipment has been installed at the market.
The activities of the Trust have been able to carry on up to, and since, the year end largely unaffected by the covid 19 pandemic, in terms of the day to day activities. There have been practical difficulties with physically holding regular trustees meetings during the pandemic, but this has not been allowed to negatively impact the day to day running of the Trust.
Financial review
The total incoming resources of the Trust during 2021-22 were £37,172 (2021:£36,680). Direct charitable expenditure amounted to £27,173 (2021:£28,963). The net income for the year to 31 March 2022 was £9,999 (2021:£7,717). The Rental income for the Market Hall and Bankhouse was slightly increased compared to the previous year but still not at full occupancy throughout the year. The rental income for the year was £16,880(2021: £16,375). Welshpool Livestock were tenants of the market for the whole year, having first occupied the site during the previous financial year. Rental income for the year was £18,000 ( 2021 £18,000).
The trustees' annual report was approved on 10 July 2022 and signed on behalf of the board of trustees by:
Robert Lewis Trustee
Sian Davies Charity Secretary
2
Rhayader Market Hall & Smithfield Trust
Independent Examiner's Report to the Trustees of Rhayader Market Hall & Smithfield Trust
Year ended 31 March 2022
I report to the trustees on my examination of the financial statements of Rhayader Market Hall & Smithfield Trust ('the charity') for the year ended 31 March 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Robert Gray F.C.A Independent Examiner
Ty Madog 32 Queens Road Aberystwyth Ceredigion SY23 2HN
3
Rhayader Market Hall & Smithfield Trust
Statement of Financial Activities
Year ended 31 March 2022
| 2022 | 2022 | 2021 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Investment income | 4 | 79 | 79 | 77 |
| Other income | 5 | 37,093 | 37,093 | 36,603 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 37,172 | 37,172 | 36,680 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6 | 27,173 | 27,173 | 28,963 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 27,173 | 27,173 | 28,963 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net income and net movement in funds | 9,999 | 9,999 | 7,717 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 657,750 | 657,750 | 650,033 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 667,749 | 667,749 | 657,750 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 14 form part of these financial statements.
4
Rhayader Market Hall & Smithfield Trust
Statement of Financial Position
31 March 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 10 | 546,392 | 548,880 |
| Current assets | |||
| Debtors | 11 | 1,702 | 433 |
| Investments | 12 | 200 | 200 |
| Cash at bank and in hand | 125,927 | 118,431 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 127,829 | 119,064 | ||
| Creditors: amounts falling due within one year | 13 | 2,473 | 4,862 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net current assets | 125,356 | 114,202 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total assets less current liabilities | 671,748 | 663,082 | |
| Creditors: amounts falling due after more than one year | 14 | 3,999 | 5,332 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net assets | 667,749 | 657,750 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Funds of the charity | |||
| Unrestricted funds | 667,749 | 657,750 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total charity funds | 17 | 667,749 | 657,750 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 10 July 2022, and are signed on behalf of the board by:
Robert Lewis Trustee
The notes on pages 7 to 14 form part of these financial statements.
5
Rhayader Market Hall & Smithfield Trust
Statement of Cash Flows
Year ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 9,999 | 7,717 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 2,488 | 2,635 |
| Dividends, interest and rents from investments | (79) | (77) |
| Accrued (income)/expenses | (3,055) | 3,730 |
| Changes in: | ||
| Trade and other debtors | (1,269) | 6,678 |
| Trade and other creditors | (667) | (295) |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Cash generated from operations | 7,417 | 20,388 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net cash from operating activities | 7,417 | 20,388 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Cash flows from investing activities | ||
| Dividends, interest and rents from investments | 79 | 77 |
| Purchase of tangible assets | – | (19,485) |
| Proceeds from sale of tangible assets | – | 285 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net cash from/(used in) investing activities | 79 | (19,123) |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Net increase in cash and cash equivalents | 7,496 | 1,265 |
| Cash and cash equivalents at beginning of year | 118,431 | 117,166 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Cash and cash equivalents at end of year | 125,927 ৶৶৶৶৶৶৶৶৶ |
118,431 ৶৶৶৶৶৶৶৶৶ |
The notes on pages 7 to 14 form part of these financial statements.
6
Rhayader Market Hall & Smithfield Trust
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Llwyncwtta, Rhayader, Powys, LD6 5NT, Wales.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
7
Rhayader Market Hall & Smithfield Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
8
Rhayader Market Hall & Smithfield Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 4% straight line Equipment - 20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
9
Notes to the Financial Statements (continued)
Rhayader Market Hall & Smithfield Trust
Year ended 31 March 2022
4. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Income from listed investments | 79 | 79 | 77 | 77 |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ |
The investment income comprises quarterly dividend receipts from the Charity's investment in the COIF Charities Investment Fund. The investment of 147.39 units in the fund is shown as an investment asset in current assets in the balance sheet, at it's original cost of £200.
5. Other income
Other income - consists mainly of receipts from 'Good Energy'.
Amortisation of deferred income - Capital improvements amounting to £6,665 were carried out at the market during the year ending 31 March 2021. The improvements are being depreciated over 5 years in equal instalments. The trust received 100% of the the expenditure incurred from HCC during the same. The full receipt of £6,665 has likewise been treated as deferred income in the balance sheet and is being transferred to profit and loss (shown as 'amortisation of grant income'in note 5) in 5 equal annual instalments of £1,333.
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Rental income - Welshpool Livestock | 18,000 | 18,000 | 18,000 | 18,000 |
| Rental income - Market Hall and | ||||
| Bankhouse | 16,880 | 16,880 | 16,375 | 16,375 |
| Other income | 880 | 880 | 895 | 895 |
| Amortisation of Grant income | 1,333 | 1,333 | 1,333 | 1,333 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 37,093 | 37,093 | 36,603 | 36,603 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
10
Rhayader Market Hall & Smithfield Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
6. Expenditure on charitable activities by activity type
The charitable expenditure was incurred during the year to 31 March 2022:
| Governance | |||
|---|---|---|---|
| Market Hall | Smithfield | costs | |
| £ | £ | £ | |
| light and heat | 938 | ||
| repairs and maintenance | – | 16,163 | |
| insurance | 2,881 | – | |
| legal and professional fees | – | 300 | |
| accountancy | 495 | ||
| rates | 1,162 | ||
| depreciation | 2,488 | ||
| Stationery & office | 245 | ||
| Secretary stipend | 2,501 | ||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Total | 5,864 | 18,563 | 2,746 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
The charitable expenditure for the previous year (to 31 March 2021) was as follows:
| Governance | ||||
|---|---|---|---|---|
| Market Hall | Smithfield | costs | ||
| £ | £ | £ | ||
| light and heat | 165 | |||
| repairs and maintenance | – | 19,816 | ||
| insurance | 3,074 | – | ||
| legal and professional fees | – | 83 | ||
| accountancy | 540 | |||
| depreciation | 2,635 | |||
| Stationery & office | 250 | |||
| Secretary stipend | 2,400 | |||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 6,249 | 20,064 | 2,650 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 7. | Net income | |||
| Net income is stated after charging/(crediting): | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 2,488 | 2,635 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| 8. | Independent examination fees | |||
| 2022 | 2021 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 495 | 540 | ||
| ৶৶৶৶ | ৶৶৶৶ |
11
Rhayader Market Hall & Smithfield Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
9. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees;
10. Tangible fixed assets
| Freehold | Plant and | |||
|---|---|---|---|---|
| property | machinery | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 April 2021 and 31 March 2022 | 516,010 | 32,265 | 6,665 | 554,940 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Depreciation | ||||
| At 1 April 2021 | – | 3,394 | 2,666 | 6,060 |
| Charge for the year | – | 1,155 | 1,333 | 2,488 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| At 31 March 2022 | – | 4,549 | 3,999 | 8,548 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Carrying amount | ||||
| At 31 March 2022 | 516,010 | 27,716 | 2,666 | 546,392 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| At 31 March 2021 | 516,010 | 28,871 | 3,999 | 548,880 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Freehold property comprises the following: | ||||
| Market Hall | Smithfield | Total | ||
| £ | £ | £ | ||
| Original cost | 4,000 | 12,000 | 16,000 | |
| Improvements b/f | 30,942 | 460,968 | 491,910 | |
| 2018 improvements | – | 8,100 | 8,100 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total freehold property | 34,942 ৶৶৶৶৶৶৶৶ |
481,068 ৶৶৶৶৶৶৶৶৶ |
516,010 ৶৶৶৶৶৶৶৶৶ |
The freehold property is shown at historical valuation plus improvements. No depreciation is charged on these figures as the trustees are confident that the current market values of the properties are considerably in excess of their book values.
Plant and machinery comprises solar panels which were acquired at a cost of £13,065 in the year to 31 March 2017 and are being written off over their anticipated life of 25 years on a straight line basis. The panels generated an income £880 for the year under review. During the year ending 31 March 2021 a new weighing station was installed at a cost of £19,485 which is similarly being written off over 25 years on a straight line basis.
Equipment comprises a complete overhaul of IT equipment at the market costing £6,665 in the year to 31 March 2020. The equipment is being written off over its anticipated life of 5 years on a straight line basis.
12
Rhayader Market Hall & Smithfield Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
| 11. | Debtors | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Other debtors | 1,702 | 433 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶ | ||
| 12. | Investments | ||
| 2022 | 2021 | ||
| £ | £ | ||
| COIF investment (at cost) | 200 | 200 | |
| ৶৶৶৶ | ৶৶৶৶ | ||
| 13. | Creditors: amounts falling due within one year | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Trade creditors | 102 | – | |
| Accruals and deferred income | 675 | 3,730 | |
| Sundry creditors | 1,131 | 1,132 | |
| Tenant's deposits | 565 | – | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 2,473 | 4,862 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 14. | Creditors: amounts falling due after more than one year | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Accruals and deferred income | 2,666 | 3,999 | |
| Other creditors | 1,333 | 1,333 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 3,999 | 5,332 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 15. | Deferred income | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Amount released to income | 2,666 | 3,999 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 16. | Government grants | ||
| The amounts recognised in the financial statements for government grants are as follows: | |||
| 2022 | 2021 | ||
| £ | £ | ||
| Recognised in creditors: | |||
| Deferred government grants due after more than one year | (1,333) ৶৶৶৶৶৶৶ |
(1,333) ৶৶৶৶৶৶৶ |
13
Rhayader Market Hall & Smithfield Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 31 March 202 | |||
| 1 April 2021 | Income | Expenditure | 2 | |
| £ | £ | £ | £ | |
| General funds | 657,750 | 37,172 | (27,173) | 667,749 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| At | ||||
| At | 31 March 202 | |||
| 1 April 2020 | Income | Expenditure | 1 | |
| £ | £ | £ | £ | |
| General funds | 650,033 | 36,680 | (28,963) | 657,750 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| £ | £ | |||
| Tangible fixed assets | 546,392 | 546,392 | ||
| Current assets | 127,829 | 127,829 | ||
| Creditors less than 1 year | (2,473) | (2,473) | ||
| Creditors greater than 1 year | (3,999) | (3,999) | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net assets | 667,749 | 667,749 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| £ | £ | |||
| Tangible fixed assets | 548,880 | 548,880 | ||
| Current assets | 119,064 | 119,064 | ||
| Creditors less than 1 year | (4,862) | (4,862) | ||
| Creditors greater than 1 year | (5,332) | (5,332) | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net assets | 657,750 | 657,750 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
18. Analysis of net assets between funds
19. Analysis of changes in net debt
| At | ||||
|---|---|---|---|---|
| At | 1 Apr 2021 | Cash flows | 31 Mar 2022 | |
| £ | £ | £ | ||
| Cash at bank and in hand | 118,431 | 7,496 | 125,927 | |
| Current asset investments | 200 | – | 200 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 118,631 | 7,496 | 126,127 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
14
Rhayader Market Hall & Smithfield Trust
Management Information
Year ended 31 March 2022
The following pages do not form part of the financial statements.
15
Rhayader Market Hall & Smithfield Trust
Detailed Statement of Financial Activities
Year ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Investment income | ||
| Income from listed investments | 79 | 77 |
| ৄৄৄৄ | ৄৄৄৄ | |
| Other income | ||
| Rental income - Welshpool Livestock | 18,000 | 18,000 |
| Rental income - Market Hall and Bankhouse | 16,880 | 16,375 |
| Other income | 880 | 895 |
| Amortisation of Grant income | 1,333 | 1,333 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 37,093 | 36,603 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Total income | 37,172 | 36,680 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Rates and water | 1,162 | – |
| Light and heat | 938 | 165 |
| Repairs and maintenance | 16,163 | 19,816 |
| Insurance | 2,881 | 3,074 |
| Other establishment | 245 | 250 |
| Legal and professional fees | 2,801 | 2,483 |
| Telephone | 495 | 540 |
| Depreciation | 2,488 | 2,635 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 27,173 | 28,963 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Total expenditure | 27,173 | 28,963 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Net income | 9,999 | 7,717 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
16
Rhayader Market Hall & Smithfield Trust
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Activity type 1 | ||
| Activities undertaken directly | ||
| rates | 1,162 | – |
| insurance | 2,881 | 3,074 |
| accountancy | 495 | 540 |
| depreciation | 2,488 | 2,635 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 7,026 | 6,249 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Activity type 2 | ||
| Activities undertaken directly | ||
| light & heat | 938 | 165 |
| repairs & maintenance | 16,163 | 19,816 |
| legal and professional fees | 300 | 83 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 17,401 | 20,064 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Governance costs | ||
| Stationery & office | 245 | 250 |
| Secretary stipend | 2,501 | 2,400 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 2,746 | 2,650 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Expenditure on charitable activities | 27,173 ৶৶৶৶৶৶৶৶ |
28,963 ৶৶৶৶৶৶৶৶ |
17