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2021-08-31-accounts

Page
Report of the Trustees
and Directors
1 Objectives &Vision
2 Structure
governance
and		 management
3 Achievements
and Performance
3.1 Achievements
in the		 year
3.2 Financial
Review
4 Future Plans
Reserves Policy
Public Benefits Statement
Trustees
responsibilities
Risk Management
Independent
Examiner's
Report		 10
Consolidated
Statement
of Financial		 Activities
(including Income and Expenditure
Account)
Balance Sheet 12
Notes forming
part ofthe financial Statements
1 Accounting
Policies		 13
Income
2 Donations
and legacies		 14
3 Charitable
activities		 14
4 Trading
activities		 14
Expenditure
5 Cost oftrading
activities		 15
6 Cost of raising
Funds		 15
7 Cost ofcharitable activities 15
8 Governance
costs		 16
9 Support and Stair Costs 16
10 Tangible
Fixed Assets		 17
11 Debtors 17
12 Cash at bank and
in hand		 18
13 Creditors 18
14 Movements
in funds		 18
15 Related
party relationships		 and transactions 18
16 Constitution
and ultimate		 parent company 19
17 Operating
surplus/(deficit)		 19

for year ending 3 1August 2021
Unrestricted Restricted Total Funds Total Funds
Note Funds Funds 2021 2020
Income:
Incoming
resources		 from donations and legacies 98,185 98,185 52,209
Income from charitable activities 53,520 53,520 87,396
Investment
income		 22 22 430
Income from trading activities 176,790 176,790 272,267
Total income 328,516 328,516 412,302
Expenditure:
Cost oftrading
activities		 209,602 209,602 259,450
Cost of raising funds 26,707 26,707 21,013
Cost ofCharitable
activities		 114,031 114,031 106,305
Governance
Costs		 12,335 12,335 12,874
Total expenditure 362,674 362,674 399,642
Net Income/(expenditure) (34,157l (34,157) 12,660
Reconciliation
of Funds
Total funds brought forward 480,167 20,064 500,231 487,572
Total funds carried forward 446,010 20,064 466,074 500,231

Group Group Charity Charity
Notes 2021 2020 2021 2020
6 6
Fixed assets
Tangible assets 10 179,833 70,549 167,594 55,288
179,833 70,549 167,594 55,288
Current assets
Stock 4,494 7,460 603 502
Debtors 50,309 17,263 23,295 10,662
Cash at bank and in hand 12 326,084 477,371 299,136 434,605
Total current assets 380,887 502,094 323,034 445,769
Liabilities
Creditors: falling due within one year 13 92,320 69,596 46,064 57,138
Net current assets 288,567 432,498 276,971 388,631
Provision for liabilities 2,325 2,816
Total assets less current liabilities 466,075 500,231 444,564 443,919
Funds 14
Unrestricted income funds 446,010 480,167 424,500 423,855
Restricted
income funds		 20,064 20,064 20,064 20,064
Total funds 466,074 500,231 444,564 443,919

2 Incoming resources from donations Incoming resources from donations Incoming resources from donations Incoming resources from donations Incoming resources from donations and legacies legacies legacies legacies Group Group Group Charity Charity Charity
2021 2020 2021 2020
E E E E
General
Donations		 3,636 4,969 3,636 4,969
Donation from LWCL to LWCT 9,873
Subscription
donation
income		 31,342 36,385 31,342 36,385
Gift Aid 7,131 8,241 7,131 8,241
Job Retention
Grant - re		 Raising Funds staff 2,147 2,614 2,147 2,614
Covid Assistance
&Re-Start Grants		 53,928 53,928
Support costs from LWCL to LWCT 17,000
98,185 52,209 98,185 79,082
3 Income from charitable activities Group Group Charity Charity
2021 2020 2021 2020
E E E 6
Functions 11,456 39,344 11,456 39,344
Welsh classes 32,808 36,438 32,808 36,438
Merchandising 325 846 325 846
Otherincome 341 120 341 120
Job Retention
Grant- re		 charitable Activities 8,589 10,458 8,589 10,458
Publications 190 190
53,520 87,396 53,520 87,396
4 Income from trading activities - from the London Welsh Centre Ltd (subsidiary ofthe LWT)
The wholly owned trading
subsidary,		 London Welsh Centre hmited is incorporated in the United Kingdom
(company
number 00204686).		 The company operates the bar and all commercial operations carried on at the London
Welsh Centre Trust premises. A summary of the trading
financial		 performance of the subsidiary alone is shown below.
4.1 Subsidiary
Income statement		 2021 2020
Turnover E 6
I-lail and Room hire 103,360 130,191
Bar 8 Food Sales 22,082 94,679
Job Retention
Grant - re		 Trading Activities 50,783 42,451
Sundry Income 565 4,946
Total Turnover 176,790 176,790 272,267 272,267
Direct Cost ofsales (13,870) (39,731)
Gross Profit 162,920 232,536
Administratwe
Expenses		 (198,2221 (221,478)
Operating
Profit before		 gift to LWT (35,302) 11,058
Amount
gift aided to charity from		 LWCL to LWCT (9,873)
Operating
profit/(lass)		 (35,302) 1,185
Deposit Account Income 10 138
Tax on profit/(loss) 490 (242)
Deficit in subsidiary (34,801) 1,081
Expenditure
on trading		 actlvltes shown in the consolidated SOFA comprised:
Costs ofsales and administrative expenses (excluding
Governance		 costs) 209,602 259,450
Less: intercompany
payments		 (Contribution to shared support costs) (17,000)
209,602 242,450

4.2 Subsidiary
Balance sheet		 Subsidiary
Balance sheet		 2021 2020
E E
Tangible fixed assets 12,240 15,261
Current assets
—Barstock 3,891 6,957
- Debtors 37,161 6,601
- Cash at bank 26,948 42,766
68,000 56,324
Current
liabilities
-Trade creditors 4,969 395
-Other creditors 1,783 1,202
- Donation from LWCL to LWC 9,873
- Owed to /(from)
LWT		 (excluding donation) 10,147 (34,231)
-Taxes 590 268
-Accruals and deferred income 38,915 34,950
(56,403) (12,457)
Total net assets 23,836 59,127
Provisions for Liabilities (2,325) (2,816)
21,510 56,312
Balance at start ofyear 56,312 55,232
Profit/
loss for the year		 (34,801) 1,080
Aggregate
share capital		 and reserves at end ofyear 21,511 56,312
Group Group Charity Charity
5 Cost oftrading activites 2021 2020 2021 2020
E E E E
Direct costs —cost ofsales (4.1) 13,870 39,731
Staff costs(9.2) 149,081 157,466
Support costs (9.1) 46,650 62,254
Total cost of trading activites 209,602 259,450
Group Grotip Charity Charity
6 Cost of raising
Funds		 2021 2020 2021 2020
E E E E
Staff costs(9.2) 13,630 14,622 13,630 14,623
Support costs (9.1) 13,077 6,390 13,077 6,390
Total cost of raising
funds		 26,707 21,013 26,707 21,013
7 Costs ofcharitable
activities		 Group Group Charity Charity
2021 2020 2021 2020
E E E E
—Staff Costs (9.2) 4S,148 50,747 45,148 50,747
-Subscription
& Donation		 - Online collection charges 786 662 786 662
—Functions &fund raising expenses 1,064 11,127 1,064 11,127
-Welsh language
classes		 10,446 8,347 10,446 8,347
- Merchandising
Costs		 314 817 314 817
—London Welsh Magazine 3,964 9,043 3,964 9,043
—Support Costs (9.1) 52,310 25,562 52,310 25,562
Total cost ofcharitable activities 114,031 106,305 114,031 106,305

Group Group Group Charity Charity
2021 2020 2021 2020
8 Governance
Costs		 E E E E
-Staff costs on Goverance (9.2) 5,105 5,643 5,105 5,643
- Reporting
accountants'		 fee 5,120 5,120 3,120 3,120
—Legal and Professional fees: e.g. Peninsula, 2,110 2,110 2,110 2,110
12,335 12,874 10,335 10,874
9 Support and Staff costs Group Group Charity Charity
2021 2020 2021 2020
9.1 Support costs E E. E E
- Rates, lighting
&heating, water		 11,854 19,251 11,854 2,251
-Insurance 10,827 11,807 4,330 4,765
Depreciation 23,065 14,137 16,563 7,893
Printing,
stationery,
telephone,		 etc. 3,639 5,144 330 602
Bookkeeping fees 203
Bank Charges 1,369 2,447 84 60
ITSoftware &Consumables 2,282 1,366 882 829
-Sundries
(incl training,		 advertising, travel, etc.) 8,714 4,132 1,521 622
- Performing
rights		 929 1,085
- Cleamng &Waste Disposal 13,481 16,850 (1,017) 5,240
- Repairs & Maintenance 15,587 16,830 10,061 8,978
-Website Development &Maintence 5,511 5,511
- Major premise works 15,268 712 15,268 712
-Tax on profit for the year (490) 242
112,037 94,206 65,386 31,952
Support Costs Allocation
Allocation to Trading Activities (5) 46,650 62,254
Allocation to Cost of Raising Funds (6) 13,077 6,390 13,077 6,390
Allocation to Charitable Activities (7) 52,310 25,562 52,310 25,562
112,037 94,206 65,386 31,952
The support costs relating to the trading activities are based on actual figures. Other support costs are allocated between
charitable
activities and		 cost of raising funds based on the percentage ofstaff costs relating to those activities.
9.2 Staff Costs Group Group Charity Charity
2021 2020 2021 2020
E E E E
Salaries 198,055 212,139 57,233 65,932
Social Security Costs 11,036 12,453 5,454 3,871
Pension 3,873 3,887 1,196 1,211
212,964 228,479 63,883 71,013
Analyals ofstaff costs on
- Trading Activity (subsidiary)
(5)		 149,081 157,466
- Raising Funds- Donations, Subscriptions, Legacies (6) 13,630 14,623 13,630 14,623
-Charitable
Activity (7)		 45,148 50,747 45,148 50,747
- Goverance (8) 5,105 5,643 5,105 5,643
Tota
I staff costs		 212,964 228,479 63,883 71,013
The average
number of		 Staff in the year is 12 15
No individual
staff member		 was paid more than 660 000 in the year.

Tangible
Fixed		 Assets
Group Refurbish- Plant & Property Furniture
&		 Fixtures & 1otal
ment 2021 Machinery Improvement Equipment Fittings
Cost 6 f f E E
At 1September 2020 8,084 20,511 150,533 114,620 98,499 392,247
Additions (8,084) (329) 134,412 4,613 1,278 131,890
At 31August 2021 20,182 284,945 119,234 99,777 524,137
Depreciation
At 1September 2020 13,476 149,240 99,263 59,720 321,698
Charge for the year 3,387 5,774 4,446 8,999 22,606
At 31August 2021 16,862 155,014 103,709 68,719 344,304
Net Book Value
At 31August 2021 3,320 129,931 15,524 31,058 179,833
At 1September 2020 8,084 7,035 1,293 15,357 38,779 70,548
Charity Prolect Plant & Property Furniture
&		 Fixtures & Total
2021 Machinery Improvement Equipment Fittings
Cost E E 6
At 1September 2020 8,084 150,533 81,619 85,996 326,232
Additions (8,084) 134,412 2,541 128,869
At 31August 2021 284,945 84,160 85,996 455,101
Depreciation
At 1September 2020 149,240 70,994 50,711 270,944
Charge for the year 5,774 2,897 7,891 16,563
At 31August 2021 155,014 73,891 58,602 287,507
Net Book Value
At 31August 2021 129,931 10,269 27,394 167,594
At 1September 2020 8,084 1,294 10,625 35,285 55,288
Debtors GI'oup Group Charity Charity
2021
E		 2020f 2021
E		 2020
E
-Trade debtors 31,961 9,925 8,441
-Amount
due from LWCL to LWCT		 10,147
- Other accrued income 2,259 2,019
—Gift Aid Recoverable 7,131 7,131
- VAT
Prepayments and other debtors 8,957 7,338 3,997 2,221
50,309 17,263 23,295 10,662

12 Cash at Bank &in hand Group Group Charity Charity
2021 2020 2021 2020
6 6 6 6
Current
Account - CAF bank		 149,183 284,626 149,183 284,626
Coif Deposit Account 55,888 55,882 55,888 55,882
Current
Account -General		 81,209 92,414 70,278 70,316
Deposit Account 24,230 24,215 23,786 23,781
Current Account - Bar &Catering 15,518 20,133
Cash In Hand 55 101
326,084 477,371 299,136 434,605
13 Creditors Group Group Charity Charity
2021 2020 2021 2020
6 f 6 f
-Trade creditors 24,632 5,209 19,663 4,813
- Other creditors 2,609 3,489 826 2,287
-Tax 6 32
- VAT 584 236
- Reporting Accountant's Fee 4,400 4,400 2,400 2,400
-Amount
due to LWCL from		 LWT 24,358
—Accrue(a and deferred
income		 60,090 56,230 23,175 23,280
92,320 69,596 46,064 57,138
2020 2021
14 Movements
in Funds		 As at incoming Outgoing Transferred As at
Start ofYear Resources Resources Resources End ofYear
6 f 6 6
Restricted
Funds - Charity		 Only
- Fund Raiser for refurbishment 15,064 15,064
- Main
Hall Floor &Other		 Areas 5,000 5,000
Total Restricted 20,064 20,064
Unrestricted
Funds
Charity - designated 194,670 (134,412) 60,258
Chanty - undesignated 229,185 151,716 (16,6601 364,240
Subsidiary
Funds		 56,312 176,800 (211,602) 21,511
Total Unrestricted 480,167 328,516 (362,674) 446,009
Group Total funds 500,231 328,516 (362,674) 466,074
15 Related Party Relationships and transactions 2021 2020
During the year to 31August: f 6
The London Welsh Centre Ltd (LWCL) contributed to the support cost ofthe London 0 17,000
Welsh Centre Trust (LWCT)
Also London Welsh Centre Ltd (LWCL) donated to London Welsh Centre Trust (LWCT) 0 9,873
At 31August 2021, inclusive ofthe donation above, the LWCL owed LWCT 10,147
At31August 2020, inclusive ofthe donation above, the LWCT owed LWCL 24,358

17 Operating
Surplus/(deficit)		 Group Group Charity Charity
2021 2020 2021 2020
This is stated after chargmg. 6 6
Depreciation
ofowned fixed Assets		 22,606 14,137 16,563 7,895
Reporting
accountants'
fees		 5,120 5,120 3,120 3,120