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2022-08-31-accounts

The London Welsh Centre Trust

(a Company Limited by Guarantee)

Annual Report and Consolidated Financial Statements

for the year ended 31 August 2022

Charity - Registration number 232672
Company Number 00774093

Page 1

The London Welsh Centre Trust

Company Information

For the Year Ended 31st August 2022

Directors and Trustees

The following individuals have acted as Directors and Trustees of the organisation the London Welsh Centre Trust for the purposes of charity law during the year, or have been appointed or retired since the end of the financial year :

Richard Saunders Chair of Trustees Hannah Roberts Hon Treasurer Gillian Phillips David Daniel Jacqueline Thomas retired 12th October 2022 Tomos Davies Jonathan Poyner Peter Allen Richard Williams Paul Wright Susan Elan Jones Harriet Johnson Charlotte Lythgoe appointed 3rd October 2022 Company Secretary Rhiannon Evans Chief Executive Officer Ceri Wyn Griffith Company Number 00774093 Charity - Registration number 232672 Registered Office 157-163 Grays Inn Road London WC1 X 8UE Business Address

157-163 Grays Inn Road London WC1 X 8UE

Accountants

Z Group Room 405 Highland House 165 The Broadway Wimbledon London SW19 1NE

Bankers

Barclays Bank Plc Charity Aid Foundation Bank

Page 2

The London Welsh Centre Trust

Report Contents

For the Year Ended 31st August 2022

Page
Report of the Trustees and Directors
1 Objectives & Vision 4
2 Structure governance and management 4
3 Achievements and Performance 5
3.1 Achievements in the year 5
3.2 Financial Review 7
4 Future Plans 8
5 Reserves Policy 8
6 Public Benefits Statement 8
7 Trustees responsibilities 9
8 Risk Management 9
Independent Examiner's Report 10
Consolidated Statement of Financial Activities 11
(including Income and Expenditure Account)
Balance Sheet 12
Notes forming part of the financial Statements
1 Accounting Policies 13
Income
2 Donations and legacies 14
3 Charitable activities 14
4 Trading activities 14
Expenditure
5 Cost of trading activities 15
6 Cost of raising Funds 15
7 Cost of charitable activities 15
8 Governance costs 16
9 Support and Staff 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

Page 3

Directors and Trustees Annual Report

The London Welsh Centre Trust

For the Year Ended 31st August 2022

The Trustees are pleased to present their report together with the financial statements of the charity (the London Welsh Centre Trust) and its subsidiary (the London Welsh Centre Limited) (the Group), for the year ending 31st August 2022 which are also prepared to meet the requirements for the directors report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2015).

1 Objectives & Vision for the Charity

The London Welsh Centre Trust is a registered charity which operates as the London Welsh Centre (LWC).

The objects of the charity are to provide an educational and cultural centre in or near London to:

The Trust delivers its objects through providing a building for the Welsh community and the wider public in London to experience and participate in community and cultural activities with a Welsh flavour. The trading activities of the Centre are administered through its wholly owned subsidiary, The London Welsh Centre Ltd. (LWCL).

The Trustees and staff have a vision that shapes the delivery of the objects - to be a home for the Welsh community in London, to be a window to Wales for the people of London, and to be a platform in London for artists and performers from Wales. "Sharing the best of Wales in London". The LWC hosts, supports, promotes and facilitates Welsh social and cultural activities in London as well as opening up the facilities to be used by the general public in Camden and beyond.

In shaping our objectives for the year and planning our cultural programme, the Trustees have considered the Charity Commission's guidance on public benefit. The activities hosted or facilitated by the Centre have been accessible to all and have been broad-ranging in content.

2 Structure, governance and management

Governing Document

The London Welsh Centre Trust (formally the London Welsh Trust) (LWCT) was incorporated on 16th September 1963. LWCT is a company limited by guarantee registered under the Companies Acts and a charity registered with the Charity Commission . The most recent version of the Articles of Association of the LWCT were adopted by the members by a special resolution dated 11th June 2012.

LWCT is the sole trustee (appointed by the Charity Commission) of the Sir Howell Jones Williams Trust, the organisation that owns the freehold of the building known as the London Welsh Centre.

The LWCT is governed by the board of Trustees. The day to day management of the LWCT and the London Welsh Centre is delegated by the Trustees to the staff of the Centre led by the Chief Executive Officer.

The London Welsh Centre Trust wholly owns a trading subsidiary, London Welsh Centre Limited. The company is incorporated in the United Kingdom (Company number 00204686). The company operates any commercial aspects of the business carried out at the London Welsh Centre, such as bar and catering and room hire. Surplus funds from this business are passed to the charity to support the charitable objectives. A summary of the subsidiary finances is included in the notes to the accounts.

Appointment of Trustees

It is a policy of the LWCT to ensure that the Trustees appointed include mature individuals with experience in the field of Administration, Law, Finance, Marketing and Human Resources, gained by holding responsible positions outside the LWCT. Additional training and familiarisation is provided as and when needed.

Page 4

The London Welsh Centre Trust

Directors and Trustees Annual Report (continued)

For the Year Ended 31st August 2022

Organisational Management

The board of Trustees is legally responsible for the overall management of the Group. It meets regularly, at least four times per year, receiving reports from the CEO, the Finance committee, the Premises committee and board members with particular responsibilities.

The Finance sub-committee meets regularly, to undertake reviews of the Centre's finances and financial management. They are responsible to the board of Trustees for financial matters, for co-ordination of the activities of the Group, management of staff and for any other matter delegated by the board of Trustees.

The Premises committee meets regularly to consider the condition and use of the building at 157-163 Grays Inn Road. They are responsible to the board for the state of repair of the building, as well as security, health and safety and legal and statutory requirements associated with the building.

The Chief Executive Officer (CEO) is appointed by the Trustees to manage the day to day operations of the Centre. The CEO has delegated authority, for operational matters and is responsible for the general management of the centre. The CEO has the authority to act without reference to the board of Trustees in matters of urgency relating to the Centre, but must provide full reports of actions to the board of Trustees.

The financial authorities of the CEO, Executive Officer roles and the Finance Committee are set out in the Group Financial Policies and Procedures.

None of the Trustees receives remuneration or other benefit from their work as Trustees with the Group.

3 Achievements & Performance

3.1 Achievements and Activity in the Year

Welsh Classes

These remained online at the start of the year, but as the terms progressed, some sessions returned to the centre. This helped to aid conversation skills and morale. Class sizes for the online sessions were capped lower than the in-person classes. A new online form and payment interface was implemented for the Welsh Class booking, which has improved the efficiency and accuracy of the process. The centre said thank you to one tutor who left the centre after six years of teaching and welcomed two new tutors. The one day Welsh courses also returned in May.

Resident groups

The three choirs returned to rehearse at the centre. Their flexibility in allocation of their rehearsal room, was much appreciated, helping to accommodate some exclusive room hire bookings during the pandemic recovery.

Other Welsh Language groups meeting at the centre, include Merched y Wawr, Clwb Darllen and Cylch Siarad who welcome anyone wanting to practise speaking Welsh with others in the comfort of the Centre Bar.

Events

As events restarted following the pandemic, numbers for events were limited and the Centre bar had implemented changes to the ordering and payment process at the bar to reduce risks. Initially there was still a nervousness about attending live events particularly indoors, however by the time the Six Nations were held, numbers could be increased and the bar operation restrictions had been lifted.

Dates in the traditional London Welsh calendar could once again be celebrated at the Centre, the Welsh Churches’ Nine lessons and Carols, Y Fari Lwyd, Santes Dwynwen day and of course St David’s Day.

Page 5

The London Welsh Centre Trust

Directors and Trustees Annual Report (continued)

For the Year Ended 31st August 2022

Eleven events were held at the Centre as part of a busy Wales Week London. These included a wonderful Exhibition of Contemporary Welsh Art from 20 talented Welsh Artists. Children from the London Welsh School were also welcomed to the Exhibition and their work was exhibited alongside the professional artists. Guy Masterson performed at the Centre during Wales Week London, but also performed Under Milk Wood for Dylan Thomas Day.

Caroline James’ organised her ever-popular Welsh Historical walks near St David’s day, once again over subscribed.

Literary events also restarted with the centre arranging a successful launch of John Downing’s book for the London Welsh Male Voice Choir.

Football played an important part of the calendar as Wales qualified for the World Cup. Safe to say, the Centre was rocking that evening. The Centre was caught up in Wrexham FC fever, as we hosted an event the evening before their big match at Wembley. We were delighted that the event and the Centre were featured on the subsequent Amazon Prime programme which followed the team

Room Hire

September & October were busy, but the winter months of November to January were quieter following potential further Covid issues. Activity then improved in the spring & summer. Flexibility from Welsh classes & resident choirs with timing and room allocation helped in the availability of facilities for hire to outside organisations. Whilst the Centre staff work hard to achieve the best income, peaks and troughs of the industries using the centre for rehearsal have affected opportunities.

Website & Magazine

A new London Welsh Centre website was launched for the start of the calendar year providing a new marketing opportunity for the Centre’s activity. It will also provide a foundation for further exciting developments such as a Welsh Language version and digitally linked functionality that will help stream line processes in the centre operation and improve its efficiency.

Four editions of the London Welsh magazine were produced by volunteer contributors and editors. They do an excellent job of compiling this informative and entertaining publication.

Premises

Renovation Phase 1 snagging was completed and some further enhancements identified and implemented to improve the soundproofing. Attention then turned to Phase 2, which it was agreed should be the addition of more toilet facilities that ideally would be capable of being allocated as female or unisex depending on the occasion.

Staff and trustees have considered various locations and options with plans drawn and revised taking account of potential complexity and cost. It is hoped that funds can be made available to move this forward in the near future.

A external consultant carried out a Fire Risk Assessment (FRA) review as part of the trustee responsibilities for risk management. An initial review identified some potential weaknesses, which could be addressed. Work was carried out, e.g. to improve fire doors and the consultant invited back to review the work, with which he indicated he was more than satisfied.

Page 6

The London Welsh Centre Trust

Directors and Trustees Annual Report (continued)

For the Year Ended 31st August 2022

3.2 Financial Review

Total Income for the year of £421,773 and expenditure of £421,194 gave The London Welsh Centre Group a small profit of £579 for the year ended August 2022, with £33,989 of fixed assets being capitalised.

This reflects a return to the pre covid activity for the Centre and completion of Phase 1 of the renovation work. The successful recovery of the business after such a difficult period is due to determination, flexibility and hard work, from all the centre staff, under the sound leadership of the Chief Executive Officer (CEO). The Trustees are very grateful for this commitment.

Subscriptions at £33,835 are slightly improved on 20-21 (£31,342) but have not yet reached 19-20 (£36,385).

Welsh Classes Income has increased slightly over the last few years,19-20 (£30,669), 20-21 (£32,808) and 21-22 (£33,015). However, the net surplus is slightly reduced for 21-22 at £19,972, due to increased tutor costs. The net surplus has remained fairly consistent over the previous few years including during the pandemic lock downs, 2021 (£22,362) and 19-20 (£20,311).

Functions net surplus of £22,730 is over twice that of 20-21 (£10,393) and in excess of the 19-20 figure (17,377).

The Functions improvement then also improved the Bar net surplus to £54,403. This was considerably better than that of 20-21 (£9,774) and almost in line with 2019-20 (£64,480).

The Room hire net surplus of £210,933 is twice that of the 20-21 (£101,798) and back in line with the 19-20 figure (£207,413). The pattern of hiring was irregular; at times lean and other times requiring exclusive use, needing flexibility from resident Choirs returning to the centre.

Staffing is a major regular cost for the Centre, £232,096. Whilst this dipped slightly in 20-21 £212,946, 21-22 is just just over £3.5K more than that of 19-20 (£228.479). Staff needed to drive the trading aspects of the Centre, which then supports the Charitable Activity of the Centre.

There was a slight increase in the total support costs of the centre £114,038 (20-21 £112,037). However, individual support costs did vary. It can be seen that some support costs were significantly higher in 21-22, e.g.: rates, utilities, depreciation, cleaning and waste. Other support costs were higher in 20-21, e.g. Repairs and maintenance and Major premises work.

The London Welsh Centre Limited (LWCL) made an operating profit in the year of £31,222. Taking into account losses in 20-21, a donation of £23,097 is made to the London Welsh Centre Trust (LWCT). .

The last amount of job retention scheme funds were received for September 2022. Total almost £8,000. There were staff available problems in the 2nd quarter of the financial due to staff illness and accidents outside the centre. These were well managed by the CEO drawing on centre contacts. This subsequently facilitated the widening of the pool of temporary available staff for the future.

To provide more flexibility for events in various parts of the centre, e.g. the bar as well as various parts of the main hall, portable lightweight staging and microphones were purchased at a cost of £2,619.

Whilst most of the Phase 1 renovation had been completed in the 20-21 year, some additional expenditure was required in 21-22. Drapes were needed to provide further sound proofing between the Main Hall and the new room & studio. In all the total cost of work had depleted the designated premises fund more than hoped, leaving just £60,000 in the fund.

Around £7,500 was spend on contractor work continuing the Website redevelopment with a launch mid-year.

Page 7

The London Welsh Centre Trust

Directors and Trustees Annual Report (continued)

For the Year Ended 31st August 2022

4 Future Plans

A number of options for Phase 2 of the building renovation have been discussed. The target for this phase is additional toilet facilities, but plumbing complexity, inevitable subsequent cost and uncertainty of funds has delayed the progress. The finance committee is eager to find a way forward for this work, but continue to be cautious of the economic climate. It is hoped that the improved additional facilities provided in renovation Phase 1 will increase the room hire revenue, to contribute to the required funds.

The Trustees and in particular the Finance Committee continued to monitor the centre's regulatory and financial position. The Finance committee is mindful of the impact of committing too much money to capital projects if the centre regular general finances may come under significant strain.

Further work will continue on the new website as funds and resources are available with a focus on the Welsh translation of the site and operational functionality to enhance the centre efficiency.

Having consolidated the governance policies, the Trustees intend to continue to develop the range of skills and experience at its disposal, both from Trustees themselves and from the staff. The Trustees are confident that the policies it has in place and the skills of the staff team provide a strong basis for future progress. It is hoped that the Centre’s programme of cultural and community activities will continue to develop.

5 Reserves policy

The Group has combined funds of £466,654, (2021 £466,074) of which £20,064 is restricted (2021: £20,064) and £33,477 (2021 £60,258) is designated for building works. Excluding fixed assets of £182,121, this leaves £204,209 which is currently equivalent to just over 7 months' reserves. The level of reserves is reviewed annually.

The designated fund still stands at £60,258. The planned phase 2 of the building refurbishment work has not yet been costed, but is expected to require considerably more funds than remain in the designated fund. With the level of reserves around 6 months, the Trustees will consider very carefully the financial stability of the centre, before progressing with the project.

6 Public Benefit Statement

Public Benefit Requirement

The Trustees had due regard to the guidance published by the Charities Commission in compliance with its duties under section 4 of the Charities Act 2011.

This guidance sets out two key principles:

  1. The organisation must have an identifiable benefit.

  2. The benefit must be to the public or a section of the public.

The Trustees confirm that the LWC carries out its objectives for public benefit. The LWC continues to ensure that the Centre is fully or partially open to the public throughout the year during normal office hours.

During the year the Centre holds numerous events promoting musical, literary and artistic appreciation, including concerts, book launches, exhibition. Many of these events are free of charge and the vast majority are open to the public. The purpose of these events is the advancement of arts, culture and heritage.

The LWC from time to time holds open days or evenings at the centre, when the public are particularly encouraged to come into the centre to learn about its activities, the Welsh language and culture.

The Trustees ensure that the Centre delivers events of a Welsh cultural and educational nature. The Centre continues to offer preferential rates for hiring of its spaces to local community groups and charities to ensure that the Centre's facilities are supporting the advancement of community development.

Page 8

The London Welsh Centre Trust

Directors and Trustees Annual Report (continued)

For the Year Ended 31st August 2022

7 Trustees responsibilities in relation to Financial Statements

The Trustees are responsible for preparing the Trustee's annual report and financial statements in accordance with the applicable law and United Kingdom standards (UK GAAP).

Company law and the law applicable to charities in England and Wales require charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Group and of the Incoming recources and application of resources including the income and expenditure of the Group for that period. In preparing the financial statements the Trustees are required to:

The Trustees are responsible for ensuring that sufficient accounting records are kept which disclose with reasonable accuracy at any time the financial position of the group and enables them to ensure that the financial statements comply with the law and requirements of the Charity Commission.

They are also responsible for safeguarding the assets of the LWC and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

8 Risk Management

The Trustees consider the maintenance of a safe environment for staff, subscribers and customers of the Centre to be their primary duty. The Trustees will continue to assess and manage any risks related to the Centre building or operations through regular risk assessments by staff, with results reported to the Trustees by the CEO.

Guidance and rules have been thoroughly researched to determine effective processes required to maintain the safety of all staff and users of the London Centre in relation to Covid-19. Risks have been evaluated, and continue to be so as different situations occur. Procedures and appropriate briefings are established for each type of event held at the Centre, ensuring all those impacted are adequately informed.

The key risk management tools used by the Trustees include:

A Risk Register has been agreed by the Trustee Board. The register documents the various risks considered by the Trustees to be facing the organisation, the potential impact of those risks and the likelihood of the issues happening. It is reviewed annually. This register has beenenhanced to provide a more usable matrix, making it easier for potential risks to be highlighted.

Signed on behalf of the Trustees

Richard Saunders (Chairman) Dated: 23.05.23

Page 9

The London Welsh Centre Trust

Independent Examiners's Report to the Trustees of the London Welsh Centre Trust

I report on the accounts of the charity for the year ended 31 August 2022 which comprise the statement of financial activities, the balance sheet and related notes 1 to 17

Respective responsibilites of trustees and examiner

The Charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed

It is my responsibility to:

Basis of Independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commision. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Zahid Hussein

For and on behalf of Z Group Chartered Accountants Room 405 Highland House 165 The Broadway, Wimbledon London SW19 1NE

Dated: 26 May 2023

Page 10

The London Welsh Centre Trust

Consolidated Statement of Financial Activities

(including consolidated income and expenditure account)

for year ending 31 August 2022

Note
Income:
Incoming resources from donations and legacies
2
Income from charitable activities
3
Investment income
Income from trading activities
4
Total income
Expenditure:
Cost of trading activities
5
Cost of raising funds
6
Cost of Charitable activities
7
Governance Costs
8
Total expenditure
Net income/(expenditure)
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2022
2021
£
£
£
£
49,435
-
49,435
98,185
64,162
-
64,162
53,520
262
-
262
21
307,913
-
307,913
176,790
421,772
-
421,772
328,516
251,395
251,395
209,602
31,919
31,919
26,707
125,651
125,651
114,031
12,229
12,229
12,335
421,194
-
421,194
362,674
578
-
578
(34,157)
446,009
20,064
466,074
500,231
446,587
20,064
466,652
466,074

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derived from continuing activities.

Page 11

The London Welsh Centre Trust

Consolidated Balance Sheet

as at 31 August 2022

Notes
Fixed assets
Tangible assets
10
Current assets
Stock
Debtors
11
Cash at bank and in hand
12
Total current assets
Liabilities
Creditors: falling due within one year
13
Net current assets
Provision for liabilities
Total assets less current liabilities
Funds
14
Unrestricted income funds
Restricted income funds
Total funds		 Group
Group
Charity
Charity
2022
2021
2022
2021
£
£
£
£
182,122
179,833
170,929
167,594
182,122
179,833
170,929
167,594
8,052
4,494
1,036
603
80,518
50,309
86,082
23,294
348,844
326,084
192,065
299,136
437,414
380,887
279,183
323,033
150,757
92,320
36,389
46,064
286,657
288,567
242,794
276,969
2,127
2,325
-
-
466,652
466,074
413,723
444,563
446,588
446,009
393,658
424,498
20,064
20,064
20,064
20,064
466,652
466,074
413,723
444,563

For the financial year ended 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies

Directors' responsibilities

The accounts have been prepared under the Charities Act 2011 and in accordance with 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) (effective January 2015) - Charities SORP (FRS 102)).

Approved by the Trustees on ~~23/05/2022~~ 23.05.23 Richard Saunders, Chairman

………………………………………………………….

………………………………………………………….

Hannah Roberts, Treasurer

Company registration number 00774093 The attached notes form part of these accounts

Page 12

Notes on the accounts

The London Welsh Centre Trust

for the year ended 31 August 2022

Accounting Convention

The financial statements are prepared under the historical cost convention and include the results of the charities operations which are described in the Trustees Report and all of which are continuing.

The accounts have been prepared under the Charities Act 2011 and in accordance with 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) (effective January 2015) - Charities SORP (FRS 102)).

Income

Incoming resources from donations and legacies are accounted for on a receipts basis.

Income from hall and room hire is recognised when the letting occurs. Income received in advance is carried forward as deferred income.

Income from bar and food sales is stated net of VAT and is recognised when the goods are served to the customer.

Expenditure

Resources expended are included on an accruals basis.

For the charity "London Welsh Centre Trust" - Resources expended include attributable VAT which cannot be recovered.

Support Costs

Support costs relating to the trading activity are based on actual figures. Other support costs are allocated between charitable activities and cost of raising funds based on the percentage of staff costs relating to those activities.

Fund accounting

Unrestricted funds are general funds that are available for use to further any of the purposes of the charity.

Designated funds are funds that the Trustees of the charity have set aside for a particular purpose.

Restricted funds are those donated for use in a particular area or purpose and the restriction means that the funds can only be used for specific projects or activities.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Group Accounts

The company and its subsidiary undertaking comprise a small -sized group.

Stock

Stock is included at the lower of cost or net realisable value.

Page 13

The London Welsh Centre Trust

Notes on accounts for the year ended 31st August 2022

2
Incoming resources from donations and legacies
General Donations
Donation from LWCL to LWCT
Subscription donation income
Gift Aid
Job Retention Grant - re Raising Funds staff
Covid Assistance & Re-Start Grants
Support costs from LWCL to LWCT
3
Income from charitable activities
Functions
Welsh classes
Merchandising
Other income
Job Retention Grant - re charitable Activities
Publications		 Group
Group
Charity
Charity
2022
2021
2022
2021
£
£
£
£
2,234
3,636
2,234
3,636
-
-
23,097
-
33,835
31,342
33,835
31,342
7,264
7,131
7,264
7,131
102
2,147
102
2,147
6,000
53,928
6,000
53,928
-
-
-
-
49,435
98,185
72,532
98,185
Group
Group
Charity
Charity
2022
2021
2022
2021
£
£
£
£
29,980
11,456
29,980
11,456
33,015
32,808
33,015
32,808
433
325
433
325
-
341
-
341
409
8,589
409
8,589
325
-
325
-
64,162
53,520
64,162
53,520

The wholly owned trading subsidary, London Welsh Centre limited 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
2022
Turnover
£
£
£
Hall and Room hire
213,289
103,360
Bar & Food Sales
90,516
22,082
Job Retention Grant - re Trading Activites
1,455
50,783
Sundry Income
2,654
565
Total Turnover
307,913
307,913
176,790
Direct Cost of sales
(37,007)
Gross Profit
270,906
Administrative Expenses
(216,587)
Operating Profit before gift to LWT
54,319
Amount gift aided to charity from LWCL to LWCT
(23,097)
Operating profit/(loss)
31,222
Deposit Account Income
0
Tax on profit/(loss)
199
Profir/(Deficit) in subsidiary
31,421
Expenditure on trading activites shown in the consolidated SOFA comprised:
Costs of sales and administrative expenses (excluding Governance costs)
251,396
Less: intercompany payments (Contribution to shared support costs)
-
251,396		 2021
£
176,790
(13,870)
162,920
(198,222)
(35,302)
-
(35,302)
10
490
(34,801)
209,602
-
209,602

Page 14

The London Welsh Centre Trust

Notes on accounts for the year ended 31st August 2022

4.2
Subsidiary Balance sheet
Tangible fixed assets
Current assets
- Bar stock
- Debtors
- Cash at bank
Current liabilities
- Trade creditors
- Other creditors
- Donation from LWCL to LWC
- Owed to /(from) LWT (excluding donation)
- Taxes
- Accruals and deferred income
Total net assets
Provisions for Liabilities
Balance at start of year
Profit/ loss for the year
Aggregate share capital and reserves at end of year
5
Cost of trading activites
Direct costs - cost of sales (4.1)
Staff costs (9.2)
Support costs (9.1)
Total cost of trading activites
6
Cost of raising Funds
Staff costs (9.2)
Support costs (9.1)
Total cost of raising funds
7
Cost of charitable activities
- Staff Costs (9.2)
- Subscription & Donation - Online collection charges
- Functions & fund raising expenses
- Welsh language classes
- Merchandising Costs
- London Welsh Magazine
- Support Costs (9.1)
Total cost of charitable activities		 £
7,016
66,163
156,780		 2022
£
11,192
229,959
(186,092)
55,058
(2,127)
52,932
21,511
31,421
52,932
Group
2021
£
13,870
149,081
46,650
209,602
Group
2021
£
13,630
13,077
26,707
2021
£
45,148
786
1,064
10,446
314
3,964
52,309
114,031		 £
3,891
37,161
26,948		 2021
£
12,240
68,000
(56,402)
3,224
1,369
71,726
900
108,874		 4,969
1,783
-
10,147
589
38,915
Group
2022
£
37,007
167,109
47,279		 Charity
2022
£
-
-
-
23,837
(2,325)
21,511
56,312
(34,801)
21,511
Charity
2021
£
-
-
-
251,395 - -
25,496
Group
2022
£
18,568
13,351		 Charity
2022
£
18,568
13,351		 Charity
2021
£
13,630
13,077
31,919 31,919 26,707
2022
£
41,777
641
7,250
13,218
-
9,358
53,407		 2022
£
41,777
641
7,250
13,218
-
9,358
53,407		 2021
£
45,148
786
1,064
10,446
314
3,964
52,309
125,651 125,651 114,031

Page 15

The London Welsh Centre Trust

Notes on accounts for the year ended 31st August 2022

8
Governance Costs
- Staff costs on Goverance (9.2)
- Reporting accountants' fee
- Legal and Professional fees: e.g. HR services
9
Support and Staff costs
9.1
Support costs
- Rates, lighting & heating, water
- Insurance
- Depreciation
- Printing, stationery, telephone, etc.
- Bookkeeping fees
- Bank Charges
- IT Software & Consumables
- Sundries (incl training, advertising, travel, etc.)
- Performing rights
- Cleaning & Waste Disposal
- Repairs & Maintenance
- Website Development & Maintence
- Major premise works
- Tax on profit for the year
- Bad & Doubtful Debt
Support Costs Allocation
Allocation to Trading Activities (5)
Allocation to Cost of Raising Funds (6)
Allocation to Charitable Activities (7)		 Group
Group
2022
2021
£
£
4,642
5,105
5,332
5,120
2,255
2,110
12,229
12,335
Group
Group
2022
2021
£
£
22,725
11,854
12,264
10,827
31,701
23,065
3,476
3,639
-
-
2,775
1,369
1,630
2,282
2,304
8,714
659
929
21,303
13,481
10,788
15,587
4,611
5,511
-
15,268
(199)
(490)
-
-		 Charity
Charity
2022
2021
£
£
4,642
5,105
3,332
3,120
2,255
2,110
10,229
10,335
Charity
Charity
2022
2021
£
£
22,725
11,854
5,199
4,330
26,423
16,563
13
330
-
-
93
84
1,141
882
534
1,521
1,948
(1,017)
4,072
10,061
4,611
5,511
-
15,268
114,038
112,037
47,279
46,650
13,351
13,077
53,407
52,309
114,038
112,037		 66,758
65,387
13,351
13,077
53,407
52,309
66,758
65,387

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 of staff costs relating to those activities.

9.2
Staff Costs
Salaries
Social Security Costs
Pension
Analysis of staff costs on
- Trading Activity (subsidiary) (5)
- Raising Funds - Donations, Subscriptions, Legacies (6)
- Charitable Activity (7)
- Goverance (8)
Total staff costs
The average number of Staff in the year is		 Group
Group
2022
2021
£
£
215,403
198,055
12,351
11,036
4,341
3,873
232,096
212,964
167,109
149,081
18,568
13,630
41,777
45,148
4,642
5,105
232,096
212,964
12
15		 Charity
Charity
2022
2021
£
£
60,314
57,233
3,458
5,454
1,215
1,196
64,987
63,883
18,568
13,630
41,777
45,148
4,642
5,105
64,987
63,883
2
2

No individual staff member was paid more than £60,000 in the year.

Page 16

The London Welsh Centre Trust

Notes on accounts for the year ended 31st August 2022

Note

10
Tangible Fixed Assets
Group
Refurbish-
ment 2021
Plant &
Machinery
Cost
£
At 1 September 2021
-
20,182
Additions
3,450
1,280
At 31 August 2022
3,450
21,461
Depreciation
At 1 September 2021
-
16,862
Charge for the year
-
2,200
At 31 August 2022
-
19,062
Net Book Value
At 31 August 2022
3,450
2,400
At 1 September 2021
-
3,320
Charity
Project
2021
Plant &
Machinery
Cost
£
At 1 September 2021
-
-
Additions
3,450
-
At 31 August 2022
3,450
-
Depreciation
At 1 September 2021
-
-
Charge for the year
-
-
At 31 August 2022
-
-
Net Book Value
At 31 August 2022
3,450
-
At 1 September 2021
-
-
11
Debtors
- Trade debtors
- Amount due from LWCL to LWCT
- Other accrued Income
- Gift Aid Recoverable
- VAT
- Prepayments and other debtors		 Refurbish-
ment 2021
Plant &
Machinery
£
-
20,182
3,450
1,280		 Property
Improvement
Furniture &
Equipment
Fixtures &
Fittings
Total
£
£
£
£
284,945
119,234
99,777
524,137
5,984
4,609
18,668
33,990
3,450
21,461		 290,929
123,842
118,445
558,127
-
16,862
-
2,200		 155,014
103,709
68,719
344,304
13,790
5,388
10,323
31,701
-
19,062		 168,804
109,097
79,042
376,005
3,450
2,400		 122,125
14,745
39,402
182,122
-
3,320		 129,931
15,525
31,058
179,833
Project
2021
Plant &
Machinery
£
-
-
3,450
-		 Property
Improvement
Furniture &
Equipment
Fixtures &
Fittings
Total
£
£
£
£
284,945
84,160
85,996
455,101
5,984
2,977
17,347
29,758
3,450
-		 290,929
87,137
103,343
484,859
-
-
-
-		 155,014
73,891
58,602
287,507
13,790
3,585
9,048
26,423
-
-		 168,804
77,476
67,650
313,930
3,450
-		 122,125
9,661
35,693
170,929
-
-		 129,931
10,269
27,394
167,594
Group
Group
Charity
Charity
2022
2021
2022
2021
£
£
£
£
59,946
31,961
-
-
-
-
71,726
10,147
100
2,259
100
2,019
7,584
7,131
7,584
7,131
-
-
-
-
12,888
8,957
6,672
3,997
80,518
50,309
86,082
23,294

Page 17

The London Welsh Centre Trust

Notes on accounts for the year ended 31st August 2022

12 Cash at Bank & in hand Group Group Charity Charity
2022 2021 2022 2021
£ £ £ £
Current Account - CAF bank 92,112 149,183 92,112 149,183
Coif Deposit Account 56,141 55,888 56,141 55,888
Current Account - General 89,625 81,209 20,022 70,278
Deposit Account 24,234 24,230 23,790 23,786
Current Account - Bar & Catering 86,623 15,518 - -
Cash In Hand 109 55 - -
348,845 326,084 192,065 299,136
13 Creditors Group Group Charity Charity
2022 2021 2022 2021
£ £ £ £
- Trade creditors 9,468 24,632 6,244 19,663
- Other creditors 2,115 2,609 746 826
- Tax 5 5 - -
- VAT 895 584 - -
- Reporting Accountant's Fee 4,400 4,400 2,400 2,400
- Amount due to LWCL from LWT - - - -
- Amount due to LWCT from LWL - - - -
- Accruals and deferred income 133,874 60,090 27,000 23,175
150,757 92,320 36,389 46,064
2021 2022
14 Movements in Funds As at Incoming Outgoing Transferred As at
Start of Year Resources Resources Resources End of Year
£ £ £ £ £
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 60,258 (26,781) - 33,477
Charity - undesignated 364,240 113,859 (143,017) - 335,082
Subsidiary Funds 21,511 307,913 (251,395) - 78,030
Total Unrestricted 446,010 421,772 (421,194) - 446,589
Group Total funds 466,074 421,772 (421,194) - 466,654
15 Related Party Relationships and transactions 2022 2021
During the year to 31 August : £ £
The London Welsh Centre Ltd (LWCL) contributed to the support cost of the London 0 17,000
Welsh Centre Trust (LWCT)
Also London Welsh Centre Ltd (LWCL) donated to London Welsh Centre Trust (LWCT) 23,097
0
At 31 August 2021, inclusive of the donation above, the LWCL owed LWCT 71,726
At 31 August 2020, inclusive of the donation above, the LWCT owed LWCL 24,358

No remuneration or expenses were paid to the trustees in the year or the previous year.

Page 18

The London Welsh Centre Trust

Notes on accounts for the year ended 31st August 2022

16 Constitution and Ultimate Parent Company

London Welsh Centre Trust is a company limited by Guarantee, having no share capital. Members are liable for the company's debts whilst being a member and up to one year after ceasing to be a member for those transactions entered into before that date, to a maximum of £1.

London Welsh Centre Limited is a company limited by Guarantee, having no share capital. Members are liable for the company's debts whilst being a member and up to one year after ceasing to be a member for those transactions entered into before that date, to a maximum of £1. The company's sole member and ultimate parent is the London Welsh Centre Trust.

17 Operating Surplus/ (deficit) Group Group Charity Charity
2022 2021 2022 2021
This is stated after charging: £ £ £ £
Depreciation of owned fixed Assets 31,701 14,137 26,423 7,895
Reporting accountants' fees 5,332 5,120 3,332 3,120

Page 19