| Trustees' | annual report |
annual report |
|
|---|---|---|---|
| Independent auditor's |
report to the members | ||
| Statement | of financial | activities | |
| Statement | of financial | position | 10 |
| Statement | ofcash flows | ||
| Notes to the financial | statements | 12 |
| Reference a | nd adm | inistrative | details | details | |||
|---|---|---|---|---|---|---|---|
| Registered | charity | name | Welsh Rugby Charitable | Trust | |||
| Charity registration | number | 502079 | |||||
| Principal office | 48 Rhys Road | ||||||
| B(ACKWOOD | |||||||
| NP12 3QR | |||||||
| The trustees | Mr BRess | (Died 29 December 2021) | |||||
| Mr G Williams | |||||||
| Mr TG R Davies | |||||||
| Mr P Owens | |||||||
| Miss C Hltt | |||||||
| Mr R Moon | |||||||
| Dr C Williams | |||||||
| Mr A Meredith | |||||||
| Dr G )ones | |||||||
| Mr BWilliams | |||||||
| Prof 3 Williams | |||||||
| Mrs C)eiferles | |||||||
| Mr T Phillips | |||||||
| Mr G Powell | (Retired 1 | May 2023) | |||||
| Mrs A Hawkins | |||||||
| Mr M Ryan | (Appointed | 28 3anuary 2022) | |||||
| Mr H Davies | (Appointed | 1 May 2023) | |||||
| Auditor | Kilsby &Williams | LLP | |||||
| Chartered accountants |
&statutory | auditor | |||||
| Cedar House | |||||||
| Hazell Drive |
|||||||
| Newport | |||||||
| NP10 BFY | |||||||
| Bankers | Barclays Bank PLC | ||||||
| PO Box679 | |||||||
| 121Queen Street | |||||||
| Cardiff | |||||||
| CF10 2XU |
| 2022 | 2022 | 2021 | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Totalfunds | Totalfunds | |||
| Note | f. | 6 | 6 | ||
| Income and endowments | |||||
| Donations and legacies |
431,593 | 431,593 | 171,410 | ||
| Other trading actlvibes |
3,173 | 3,173 | 232 | ||
| Investment income |
141,903 | 141,903 | 121,117 | ||
| Total income | 576,669 | 576,669 | 292,759 | ||
| Expenditure | |||||
| Expenditure on raising f'unds: |
|||||
| Costs of raising donations and legacies Expenditure on chantable activities |
7 8,9 |
(144) (409,785) |
(144) (409,785) |
(216) (408,603) |
|
| Total expenditure | (409,929) | (409,929) | (408,819) | ||
| Net (losses)/gains on investments |
10 | (202,544) | (202,544) | 233,416 | |
| Net (expenditure)/income | and net movement | in funds | (35,804) | (35,804) | 117,356 |
| Reconciliation offunds |
|||||
| Total funds brought forward |
3879~281 | 3 879 281 | 3/761 925 | ||
| Total funds carried forward | 3,843,477 | 3,843,477 | 3,879,281 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | E | 8 | |||
| FIXED ASSETS | |||||
| Investments | 13 | 3 513965 | 3g774 606 | ||
| CURRENT ASSETS | |||||
| Debtors | 14 | 55,815 | 46)041 | ||
| Cash at bank and | in hand | 285,296 | 67,747 | ||
| 341,111 | 113,788 | ||||
| CREDITORS: amounts | falling due within one year | 15 | (11,599) | (9,113) | |
| NET CURRENT ASSETS | 329,512 | 104,675 | |||
| TOTAL ASSETS | LESSCURRENT LIABILITIES | 3,843,477 | 3,879,281 | ||
| NET ASSETS | 3,843,477 | 3,879,281 | |||
| FUNDS OF THE CHARITY | |||||
| Unrestricted funds |
3,843,477 | 3,879,281 | |||
| Total charity funds | 16 | 3,843,477 | 3,879,281 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| E | 6 | |||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net (expenditure)/Income | (35,804) | 117,356 | ||
| Ar//trsrrnenrs for: |
||||
| Net (losses)/gains on Investments |
202,544 | (233,416) | ||
| Dividends, interest and rents from |
investments | (141,903) | (121,117) | |
| Accrued expenses | 720 | 312 | ||
| Changesin: | ||||
| Trade and other debtors | (9,774) | (29,556) | ||
| Trade and other creditors | 1,766 | (150) | ||
| Cash generated from operations |
17,549 | (266,571) | ||
| Net cash from/(used in) operating |
activities | 17,549 | (266,571) | |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Net cash withdrawal | 200,000 | 280,000 | ||
| Net cash from investing activities |
200,000 | 280,000 | ||
| NET INCREASE IN CASH AND | CASH EQUIVALENTS | 217,549 | 13,429 | |
| CASH AND CASH EQUIVALENTS | AT BEGINNING OF YEAR | 67,747 | 54,318 | |
| CASH AND CASH EQUIVALENTS | AT END OF YEAR | 285,296 | 67,747 |
| 4. | DONAT | IO | NS AND LEG |
AC | IE | S | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||||||
| Funds | 2022 | Funds | 2021 | |||||||||
| E | E | f | E | |||||||||
| DONATIONS | ||||||||||||
| Donation | from the Welsh | Rugby | Union | 219,541 | 219,541 | 123,458 | 123,458 | |||||
| Donation | from the ivlillennfum | Stadium | ||||||||||
| Charitable | Trust | 97,861 | 97,861 | 22,458 | 22,458 | |||||||
| Individual | donations | 12,381 | 12,381 | 21,940 | 21,940 | |||||||
| Donations | fram Royal Polo Day | 100,000 | 100,000 | |||||||||
| GIFTS | ||||||||||||
| Gilts from | dubs and ground | collection | 1,810 | 1,810 | 3,554 | 3,554 | ||||||
| 431,593 | 431,593 | 171,410 | 171,410 | |||||||||
| 5. | OTHER | TRADING ACTIVITIES | ||||||||||
| Unrestricted | Total Funds | Unrestricted | TotalFunds | |||||||||
| Funds | 2022 | Funds | 2021 | |||||||||
| f | f | f | E | |||||||||
| Annual | golf day, "Grav" play | and | ||||||||||
| Auctions | 3,173 | 3,173 | 232 | |||||||||
| 6. | INVESTMENT INCOME | |||||||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||||||
| Funds | 2022 | Funds | 2021 | |||||||||
| E | F. | f | E | |||||||||
| Income | from listed investments | 141,903 | 141,903 | 121,117 | 121,117 | |||||||
| 7. | COSTS | OF RAISING DONATIONS | AND | LEGACIES | ||||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||||||
| Funds | 2022 | Funds | 2021 | |||||||||
| E | E | f | E | |||||||||
| Costs of raising donations | and | legacies | ||||||||||
| Donations | 216 | 216 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
|---|---|---|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |||||
| E | f | E | f | |||||
| Christmas | grants | 35,000 | 35,000 | 26,250 | 26,250 | |||
| Relief of | injured | rugby players | 270,385 | 270,385 | 291,929 | 291I929 | ||
| Summer | grants | for injured | rugby | players | 74,600 | 74,600 | 63,400 | 63,400 |
| Other finanrial | support | 15,000 | 15,000 | 15,000 | 15,000 | |||
| Support costs | 14,800 | 14,800 | 12,024 | 12,024 | ||||
| 409,785 | 409,785 | 408,603 | 408,603 |
| EXPEND | ITUR | E ON CHA | RITABLE ACTI | VITIES BYA | CIIVIIY IYPE | ||
|---|---|---|---|---|---|---|---|
| Activities | |||||||
| undertaken | Total funds | Totalfund | |||||
| directly f |
Support costs E |
2022 E |
2021 | ||||
| Christmas | grants | 35,000 | 1,311 | 36,311 | 27,046 | ||
| Relief of | injured | rugby players | 270,385 | 10,131 | 280,516 | 300,780 | |
| Summer | grants | for injured | rugby players | 74,600 | 2,795 | 77,395 | 65,322 |
| Other financial | support | 15,000 | 563 | 15,563 | 15,455 | ||
| 394,985 | 14,800 | 409,785 | 408,603 |
| NET (LOSSE | S)/G | AINS | ON INVESTM | ENTS | |||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | TotalFunds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| E | E | ||||||
| Gains/(losses) | on | listed | investments | (202,544) | (202,544) | 233,416 | 233,416 |
| Usted | ||||
|---|---|---|---|---|
| investments | ||||
| 6 | ||||
| Cost or valuation | ||||
| At 1 December | 2021 | 3,774,606 | ||
| Additions | 141,903 | |||
| Fair value movements | (202,544) | |||
| Transfers | (200,000) | |||
| At 30November | 2022 | 3,513,965 | ||
| Impairment | ||||
| At 1December | 2021and 30 November | 2022 | ||
| Carrying amount |
||||
| At 30November | 2022 | 3,513,965 | ||
| At 30 November | 2021 | 3,774,606 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| 6 | 6 | |||
| General | ||||
| Fixed interest stock, UK Government | 711,414 | 842,63'I | ||
| Equities | 2,284,484 | 2,471,602 | ||
| Cash held as part | of investment | portfolio | 40,014 | 4,048 |
| Income account | 131,009 | 85,409 | ||
| Market value as at 30 November | 3,166,921 | 3,403,693 | ||
| Historical cost as | at 30 November | 2,377,080 | 2,690,243 | |
| 2022 | 2021 | |||
| E | 6 | |||
| Michael Jefferies Memorial | Fund | |||
| Rxed Interest stock, UK Government | 140,960 | 166,394 | ||
| Equities | 178,728 | 187,394 | ||
| Income account | 27,357 | 17,125 | ||
| Market value as at 30 November | 347,044 | 370,913 | ||
| Historical cost as | at 30 November | 206,158 | 208,279 | |
| 2022 | 2021 | |||
| 6 | 6 | |||
| Total investments | market value | at 30 November | 3,513,965 | 3,774,606 |
| 14. | DEBTORS | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| f | |||||
| Other debtors | 55,815 | 46,041 | |||
| 15. | CREDITORS: amounts | falling due within one year | |||
| 2022 f |
2021 f |
||||
| Trade creditors | 1,000 | 1,000 | |||
| Accruals and deferred | income | 6,732 | 6,012 | ||
| Other creditors | 3,867 | 2,101 | |||
| 11,599 | 9,113 |
| At | At' | ||||||
|---|---|---|---|---|---|---|---|
| December | Gains and | November | |||||
| 2021 f |
Income F |
Expendituref | losses f |
2022 f |
|||
| General | funds | 3,523,368 | 565,337 | (398,569) | (167,354) | 3,522,782 | |
| Michael | Iefferies | Fund | 355,913 | 11,332 | (11,360) | (35,190) | 320,695 |
| 3,879,281 | 576,669 | ('409 929) | (202~544) | 3~843~477 | |||
| At | At' | ||||||
| December | Gains and | November | |||||
| 2020 f |
Income f |
Expenditure f |
losses f |
2021 f |
|||
| General | funds | 3,414,009 | 282,921 | (393,819) | 220,257 | 3,523,368 | |
| Michael | )efferies | Fund | 347,916 | 9,838 | (15,000) | 13159 | 355,913 |
| 3,761,925 | 292,759 | (408,819) | 233,416 | 3,879,281 |
| Unrestricted | Total Funds | |||
|---|---|---|---|---|
| Funds | 2022 | |||
| 6 | 6 | |||
| Investments | 3,513,965 | 3,513,965 | ||
| Current | assets | 3'I1,111 | 341,111 | |
| Creditors | less than | 1year | (11,599) | (11,599) |
| Net assets | 3,843,477 | 3,843,477 | ||
| Unrestricted | Total Funds | |||
| Funds E |
2021 I |
|||
| Inveslments | 3,774,605 | 3,774,605 | ||
| Current | assets | 113,788 | 113,788 | |
| Creditors | less than | 1year | (9,112) | (9,112) |
| Net assets | 3,879,281 | 3,879,281 |
| At | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| At | 1 | Dec 2021 | Cash flows | 30 Nov | 2022 | ||||||
| 6 | E | 6 | |||||||||
| Cash | at | bank | and | in | hand | 67i747 | 217i519 | 285i296 |