| PAGE | |||
|---|---|---|---|
| Trustees' | annual report |
||
| Independent auditor's |
report to the trustees | ||
| Statement | of finandal | actlvitles | |
| Statement | of ffnandal | posldon | 10 |
| Statement | ofcash flaws | ||
| Notes to the flnandal | statements | 12 |
| Reference and adm | Reference and adm | inistrative | details | details | |||
|---|---|---|---|---|---|---|---|
| Registered charity | name | Welsh Rugby Charitable | Trust | ||||
| Charity registration | number | 502079 | |||||
| Principal offfce | 48 Rhys Road | ||||||
| BlACKWOOD | |||||||
| NP12 3QR | |||||||
| The trustees | |||||||
| Mr 8Ress | (Deceased | 29 December 2021) | |||||
| Mr G Williams | |||||||
| Mr TG R Davles | |||||||
| Mr P Owens | |||||||
| Miss C Hltt | |||||||
| Mr R Moon | |||||||
| Dr CWilliams | |||||||
| Mr A Meredith | |||||||
| Dr GJones | |||||||
| Mr BWilliams | |||||||
| Prof J Williams | |||||||
| Mrs CJefferles | |||||||
| Mr T Phillips | |||||||
| Mr G Powell | |||||||
| Mrs A Hawkins | (Appointed | 8October 2021) | |||||
| Auditor | Kllsby sr Williams | LLP | |||||
| Chartered accountants |
8 statutory | auditor | |||||
| Cedar House | |||||||
| Hazell Drive | |||||||
| Newport | |||||||
| NP10 BFY | |||||||
| Bankers | Bsrdays Bank PLC | ||||||
| PO Box674 | |||||||
| 121Queen Street | |||||||
| Cardiff | |||||||
| CF102XU | |||||||
| Investment | managers | Charles Stanley | |||||
| 7/8 Park Place | |||||||
| Cardiff | |||||||
| CF103DP |
| Year ended 30 Novemb | er 2021 |
||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Unrest dcted | |||||
| funds | Totalfunds | Total funds | |||
| Note | 6 | 8 | E | ||
| fncome and endowments Donations and legacies Other trading activities Investment Income |
171,410 232 121,117 |
171,410 232 121,117 |
45,853 1I439 122,543 |
||
| Total income | 292,759 | 292,759 | 169,835 | ||
| Expenditure | |||||
| Expenditure on raising funds: Costs of raising donations and legacies Expenditure on charitable activities |
7 8i9 |
(216) (408~603) |
(216) (408603) |
(475) (376,182) |
|
| Total expenditure | (408,819) | (408,819) | (376,657) | ||
| Net gains/(losses) on Investments |
233(416 | 233(416 | (216(242) | ||
| Net income/(expenditure) | and net movement | In funds | 117,356 | 117,356 | (423,064) |
| Reconciliation of funds Total funds brought forward |
3,761,925 | 3,761,925 | 4,184,989 | ||
| Total funds carried forward | 3,879,281 | 3,879,281 | 3,761,925 |
| 30 November 202 |
2 | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| FIXEDASSETS | Note | f | ||
| Investments | 14 | 3I774~606 | 3700073 | |
| CURRENT ASSETS | ||||
| Debtors Cash at bank and In hand |
15 | 46,041 67,747 |
16,485 54,318 |
|
| 113,788 | 70,803 | |||
| CREDITORS: amounts | falling due within one year | 16 | (9,113) | (8,951) |
| NET CURRENT ASSETS | 104,675 | 61,852 | ||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 3,879,281 | 3,761(925 | ||
| NETASSETS | 3,879,281 | 3,761,925 | ||
| FUNDS OF THE CHARITY | ||||
| Unrestricted funds |
3,879,281 | 3,761,925 | ||
| Total charity funds | 17 | 3,879,281 | 3,761,925 |
| STATEMENT OF CASH FLOWS Year ended 30November 2021 |
||
|---|---|---|
| 2021 E |
2020I | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net Income/(expenditure) | 117,356 | (423,064) |
| AdJustmenrs for: |
||
| Net gains/(losses) on Investments Dividends, Interest and rents from Investments |
(233,416) (121,117) |
216,242 (122,543) |
| Accrued expenses | 312 | 5,387 |
| Changes /nr Trade and other debtors |
(29,556) | 28,188 |
| Trade and other creditors | (150) | (4,244) |
| Cash generated from operations |
(266,571) | (300,034) |
| Net cash used In operating activities |
(266,571) | (300,03'l) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Net cash withdrawal | 280,000 | 260,000 |
| Net cash from Investing activities |
280,000 | 260,000 |
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |
13,429 54,318 |
(40,034) 94,352 |
| CASH AND CASH EQUIVALENTS AT END OFYEAR | 67,747 | 54,318 |
| , | DONATI | ONS AND LEGACI |
ES | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds E |
2021 I |
Funds E |
2020 E |
||||||
| DONATIONS | |||||||||
| Donation | from the Welsh Rugby Union | 123,458 | 123,458 | 16,485 | 16,485 | ||||
| Donation | from the Millennium | Stadium | |||||||
| Charitable Trust Individual donations |
22,458 21,940 |
22,458 21,940 |
16,485 8,639 |
16,485 8,639 |
|||||
| GIFTS | |||||||||
| Gifts from clubs and ground | collection | 3,554 | 3,554 | 4,244 | 4,244 | ||||
| 171,410 | 171,410 | 45,853 | 45,853 | ||||||
| S. | OTHER | TRADING ACTIVITIES | |||||||
| Unrestricted | Total Funds | Unrestricted | TotalFunds | ||||||
| Funds | 2021 | Funds | 2020 | ||||||
| E | E | E | E | ||||||
| Annual Auctions |
golf day, "Grav" phy | and | 232 | 232 | 1,439 | 1,439 | |||
| 6. | INVESTMENT INCOME | ||||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds E |
2021 I |
Funds E |
2020 6 |
||||||
| income | from listed Investments | 121~117 | 121I117 | 122 5l3 | 122I543 | ||||
| 7. | COSTS | OF RAISING DONATIONS | AND | LEGACIES | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2021 | Funds | 2020 | ||||||
| I | E | I | E | ||||||
| Costs of raising donations and legades Donations |
~ | 216 | 216 | 475 | 475 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
|---|---|---|---|---|---|---|---|
| Christmas grants Relief of Injured rugby players Summer grants for in/ured rugby Other financial support Support costs |
players | Funds I 26,250 291,929 63,400 15,000 12,024 |
2021 E 26,250 291,929 63,400 15,000 12,024 |
Funds E 30,750 249,398 58,900 21,000 16,134 |
2020 F. 30,750 249,398 58,900 21,000 16,1.34 |
||
| 'l08,603 | 408,603 | 376,182 | 376,182 |
| Activities | |||
|---|---|---|---|
| undertaken | Totalfunds | Totalfund | |
| directly | Support costs | 2021 | 2020 |
| E | E | E | E |
| 26,250 | 796 | 27,046 | 32,128 |
| 291(929 | 8851 | 300~780 | 252~037 |
| 63,400 15,000 |
1,922 'l55 |
65,322 15,'l55 |
70,074 21,943 |
| 396,579 | 12,024 | 408,603 | 376,182 |
| Grants | ||||||
|---|---|---|---|---|---|---|
| Payable | Total 2021 | Total 2020 | ||||
| Governance | costs | E 12,024 |
E 12,024 |
E 16,132 |
||
| NET GAINS/(LOSSES) | ON INVESTMENTS | |||||
| Unrestrkted | Total Funds | Unrestricted | Total Funds | |||
| Funds I |
2021 E |
Funds E |
2020 E |
|||
| Gains/(losses) | on listed | investments | 233,416 | 233,416 | (216,242) | (216,242) |
| 14. | INVESTMENTS | ||
|---|---|---|---|
| Listed | |||
| investments | |||
| E | |||
| Cost or valuation | |||
| At I December 2020 |
3,700,073 | ||
| Additions | 121,117 | ||
| Fair value movements | 233,416 | ||
| Transfers | (280,000) | ||
| At 30November | 2021 | 3,774,606 | |
| Impairment | |||
| At 1December | 2020 and 30November 2021 | ||
| Carrying amount | |||
| At 30November | 2021 | 3,774,606 | |
| At 30 November | 2020 | 3,700,073 |
| 2021 | 2020 | ||
|---|---|---|---|
| f | E | ||
| General | |||
| Fixed Interest stock, UK Government | 842,634 | 935,448 | |
| Equities | 2,471,602 | 2,256,668 | |
| Cash held as part ofinvestment | portfolio | 4,048 | 78,582 |
| Income account | 85,409 | 81,457 | |
| Market value as at 30 November | 3,403,693 | 3,352,156 | |
| Historical cost as at 30November | 2,690,243 | 2,672,243 | |
| 2021 | 2020 | ||
| f | E | ||
| Michael Ieffries Memorial Fund |
|||
| Fixed Interest stock, UK Government | 166,394 | 168,449 | |
| Equities | 187,394 | 155,315 | |
| Cash held as part ofinvestment | porffollo | 6,653 | |
| Income account | 17,125 | 17,499 | |
| Market value as at 30 November | 370,913 | 347,916 | |
| Historical cost as at 30 November | 308,279 | 293,537 | |
| 2021 E |
2020 f |
||
| Total Investments market value |
at 30 November | 3,774,606 | 3,700,073 |
| 15, | DEBTORS | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| E | 6 | ||||
| Other debtors | 46,041 | 16,485 | |||
| 16. | CREDITORS: amounts | falling due within one year | |||
| 2021 | 2020 | ||||
| E | E | ||||
| Trade creditors Accruals and deferred Other creditors |
income | 1,000 6,012 2,101 |
1,001 5,700 2,250 |
||
| 9,113 | 8,951 |
| At | At | |||||||
|---|---|---|---|---|---|---|---|---|
| I | December | Gains and 30 | November | |||||
| 2020 | Income | Expenditure | losses | 2021 | ||||
| E | E | E | E | I | ||||
| General Michael |
funds Ieffries |
Fund | 3,414,009 347,916 |
282,921 9,838 |
(393,819) (15,000) |
220,257 13,159 |
3,523,368 355,913 |
|
| 3,761,925 | 292,759 | (408,819) | 233,416 | 3,879,281 | ||||
| I | At December |
Gains and 30 | At November |
|||||
| 2019 | Income | Expenditure | losses | 2020 | ||||
| E | E | E | E | E | ||||
| General Michael |
funds Ieffrles |
Fund | 3,848,230 336,759 |
159,612 10,223 |
(376,657) | (217,176) 934 |
3,414,009 347,916 |
|
| 4,184,989 | 169,835 | (376,657) | (216,242) | 3,761,925 |
| 18. | ANALYSIS O | F NET ASSETSBETWEEN FUNDS | ||
|---|---|---|---|---|
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| E | E | |||
| Investments | 3,774,605 | 3,774,605 | ||
| Current assets | 113,788 | 113,788 | ||
| Creditors less | than 1 year | (9,112) | (9,112) | |
| Net assets | 3,879,281 | 3,879,281 | ||
| Unrestricted | Total Funds | |||
| Funds | 2020 | |||
| E | E | |||
| Investments | 3,700,073 | 3,700,073 | ||
| Current assets | 70,803 | 70,803 | ||
| Credltorsless | than I year | (8,951) | (8,951) | |
| Net assets | 3,761,925 | 3,761,925 | ||
| 19. | ANALYSIS OF CHANGES IN NET DEBT |
| At | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| At | 1 | Dec 2020 | Cash flows | 30Nov | 2021 | ||||||
| E | E | E | |||||||||
| Cash | at | bank | and | in | hand | 54,318 | 13,429 | 67,747 |