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





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|for year ending|3|1August|2021||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total Funds|Total Funds|
|||||Note|Funds|Funds|2021|2020|
|Income:|||||||||
|Incoming<br>resources|from donations||and legacies||98,185||98,185|52,209|
|Income from charitable||activities|||53,520||53,520|87,396|
|Investment<br>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<br>activities|||||209,602||209,602|259,450|
|Cost of raising funds|||||26,707||26,707|21,013|
|Cost ofCharitable<br>activities|||||114,031||114,031|106,305|
|Governance<br>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<br>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<br>income funds|||20,064|20,064|20,064|20,064|
|Total funds|||466,074|500,231|444,564|443,919|






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|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<br>Donations|||||||||||||||3,636||4,969|||3,636|4,969|
||Donation from LWCL to|LWCT||||||||||||||||||||9,873|
||Subscription<br>donation<br>income|||||||||||||||31,342||36,385|||31,342|36,385|
||Gift Aid|||||||||||||||7,131||8,241|||7,131|8,241|
||Job Retention<br>Grant - re|Raising||Funds staff||||||||||||2,147||2,614|||2,147|2,614|
||Covid Assistance<br>&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<br>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<br>subsidary,||||||London||||Welsh Centre|hmited|||is|incorporated||in the United||Kingdom|||
||(company<br>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<br>financial|||performance|||of|the subsidiary||alone is|shown below.||
|4.1|Subsidiary<br>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<br>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<br>Expenses|||||||||||||||||(198,2221||||(221,478)|
||Operating<br>Profit before|gift to||LWT||||||||||||||(35,302)||||11,058|
||Amount<br>gift aided to charity from||||LWCL|||to||LWCT||||||||||||(9,873)|
||Operating<br>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<br>on trading|actlvltes|||shown|||in||the consolidated||SOFA|||comprised:||||||||
||Costs ofsales and administrative||||expenses|||||(excluding<br>Governance|||||costs)|||209,602||||259,450|
||Less: intercompany<br>payments|||(Contribution|||||||to shared support||costs)|||||||||(17,000)|
|||||||||||||||||||209,602||||242,450|





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|4.2|Subsidiary<br>Balance sheet|Subsidiary<br>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<br>liabilities||||||||
||-Trade creditors||||4,969||395||
||-Other creditors||||1,783||1,202||
||- Donation from LWCL|to|LWC||||9,873||
||- Owed to /(from)<br>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/<br>loss for the year|||||(34,801)||1,080|
||Aggregate<br>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<br>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<br>funds||||26,707|21,013|26,707|21,013|
|7|Costs ofcharitable<br>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<br>& Donation||- Online|collection charges|786|662|786|662|
||—Functions &fund raising||expenses||1,064|11,127|1,064|11,127|
||-Welsh language<br>classes||||10,446|8,347|10,446|8,347|
||- Merchandising<br>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<br>Costs||||||||E||E|E|E|
||-Staff costs on Goverance (9.2)|||||||||5,105|5,643|5,105|5,643|
||- Reporting<br>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<br>&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,<br>stationery,<br>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<br>(incl training,|advertising,||||travel,||etc.)||8,714|4,132|1,521|622|
||- Performing<br>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<br>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)<br>(5)||||||||149,081||157,466|||
||- Raising Funds- Donations,||Subscriptions,|||||Legacies (6)||13,630|14,623|13,630|14,623|
||-Charitable<br>Activity (7)|||||||||45,148|50,747|45,148|50,747|
||- Goverance (8)|||||||||5,105|5,643|5,105|5,643|
||Tota<br>I staff costs||||||||212,964||228,479|63,883|71,013|
||The average<br>number of|Staff in the|||year||is|||12|15|||
||No individual<br>staff member||was paid|||more than 660 000 in|||the year.|||||





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|Tangible<br>Fixed|Assets||||||||
|---|---|---|---|---|---|---|---|---|
|Group||Refurbish-|Plant|&|Property|Furniture<br>&|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<br>&|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<br>E|2020f|2021<br>E|2020<br>E|
|-Trade debtors|||||31,961|9,925||8,441|
|-Amount<br>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|





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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|12|Cash at Bank &in hand|||||Group||Group|Charity|Charity|
|||||||2021||2020|2021|2020|
|||||||6||6|6|6|
||Current<br>Account - CAF bank|||||149,183||284,626|149,183|284,626|
||Coif Deposit Account|||||55,888||55,882|55,888|55,882|
||Current<br>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<br>due to LWCL from||LWT|||||||24,358|
||—Accrue(a and deferred<br>income|||||60,090||56,230|23,175|23,280|
|||||||92,320||69,596|46,064|57,138|
|||||2020||||||2021|
|14|Movements<br>in Funds|||As at||incoming||Outgoing|Transferred|As at|
|||||Start|ofYear|Resources||Resources|Resources|End ofYear|
||||||6|||f|6|6|
||Restricted<br>Funds - Charity|Only|||||||||
||- Fund Raiser for refurbishment||||15,064|||||15,064|
||- Main<br>Hall Floor &Other|Areas|||5,000|||||5,000|
||Total Restricted||||20,064|||||20,064|
||Unrestricted<br>Funds||||||||||
||Charity - designated|||194,670||||(134,412)||60,258|
||Chanty - undesignated|||229,185||151,716||(16,6601||364,240|
||Subsidiary<br>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|





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