REGISTERED COMPANY NUMBER: 01344364 (England and Wales) REGISTERED CHARITY NUMBER: 507153
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for Bardsey Island Trust Limited(The)
Gwyn Thomas and Co Limited 1 Thomas Buildings New Street Pwllheli Gwynedd LL53 5HH
Bardsey Island Trust Limited(The)
Contents of the Financial Statements for the Year Ended 31 December 2020
Page Report of the Trustees 1 to 7 Statement of Financial Activities 8 Balance Sheet 9 to 10 Notes to the Financial Statements 11 to 17 Detailed Statement of Financial Activities 18 to 19
Bardsey Island Trust Limited(The)
Report of the Trustees
for the Year Ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The charity's vision is for the island to be a Welsh exemplar of sustainable island life that supports a vibrant community, maintains a wildlife rich environment and enhances the lives of those who visit as well as people further afield.
In pursuit of these objectives, the charity and trustees recognise the importance, value and contribution from:
-
of residents working on the island including the farming
-
a range of characteristic habitats that support diverse and and spiritual heritage and the ongoing significance of Bardsey
-
character of the landscape, buildings and infrastructure are water supply, that waste generation is minimal and
-
objectives through the generous support of members, acknowledged.Following the exceptionally difficult
-
, for his unflinching support and the pivotal part
Supporting the small community of residents working on the island including the farming and sustainable fishing operations.
Ensuring that the island supports a range of characteristic habitats that support diverse and typical wildlife and that the condition of the habitats should continually be maintained in favourable condition through appropriate management.
Supporting the island's religious and spiritual heritage and the ongoing significance of Bardsey Island as a place for pilgrimage, retreat and solitude.
Ensuring the fabric, quality and character of the landscape, buildings and infrastructure are maintained, whilst retaining the sense of place.
Ensuring that the island has a sustainable water supply, that waste generation is minimal and that the carbon footprint is minimised.
The charity can only achieve these objectives through the generous support of members, benefactors and volunteers, whose significant contribution is gratefully acknowledged.Following the exceptionally difficult year the Trust would like to pay particular tribute to :
Haf Meredith , one of the Trust's first employees and a council member for many years until her retirement in May. Megan Elias , another retiring council member for all her hard work and enthusiastic support.
Gareth Roberts , councillor for Aberdaron , for his unflinching support and the pivotal part he played in securing funding for the track.
The wardens' parents , who did a huge amount of voluntary work in the spring and autumn . Without them it would have been difficult to open when we did as no other voluntary labour was available.
Colin Evans for continuing to provide an essential service to Enlli residents while the island was otherwise closed.
All at Cwrt Farm who played an important role in organising food and supplies.
Mark Crane and Gwyn Stacey whose depth of knowledge and expertise is of constant invaluable help.
Rod Gritten who stood down as chairman in 2020 and Sian Stacey who took up the mantle.
Caroline Jones , Mari Huws and Emyr Owen , administrator and wardens , for a year of service over and above the call of duty under very difficult circumstances.
The Bardsey Bird and Field Observatory staff and trustees and all island residents for their support and co-operation in discussions and plans regarding access to Enlli in 2020 and the safety of all concerned.
Page 1
Bardsey Island Trust Limited(The)
Report of the Trustees
for the Year Ended 31 December 2020
OBJECTIVES AND ACTIVITIES
Public benefit
The charity has continued to maintain the island as a living community, visited, enjoyed and appreciated by as many people as possible, whilst protecting and preserving the designated nature conservation features and historical, archaeological and religious sites.
1. The Brenda Chamberlain Project
The work of Brenda Chamberlain continues to be preserved and displayed. The murals and their environment are professionally inspected on a regular basis.
2. The Spirituality Committee
to report that the 2020 season for Chaplaincy necessary covid protocols . Chaplains were present on the had organised a meet-up for chaplains in March in 2021 . For this gathering the committee has prepared discussion of their experiences and the sharing of best practice , which has kindly subsidised the accommodation cost trust from its winding up residue . The Spirituality and the committee will continue to look for new partners committee have continued to assist the Rev Janet Fletcher committee is grateful to the Trust for enabling appropriate off-peak periods . Members of the committee have also in September 2021 and we are very grateful for near St Asaph . This has meant that all of the places on the retreat and work of our Trust , the Spirituality Committee depends
Chaplaincy - The committee is pleased to report that the 2020 season for Chaplaincy was fully resourced , when possible , due to the Trust operating to its necessary covid protocols . Chaplains were present on the island every other week during the letting period . The committee had organised a meet-up for chaplains in March which was cancelled due to covid and will now be held online in 2021 . For this gathering the committee has prepared a role description for chaplains as a starting point for a discussion of their experiences and the sharing of best practice for chaplaincy on the island . The Carreg Trust charity , which has kindly subsidised the accommodation cost of chaplains on Enlli , transferred a generous sum to the trust from its winding up residue . The Spirituality Committee is grateful to the charity's trustees for their support and the committee will continue to look for new partners to support chaplain's accommodation and ministry in the future.
Enlli Prayer Book - Members of our committee have continued to assist the Rev Janet Fletcher with the bilingual prayer book which will hopefully come to print in 2021.
Contemplative Spirituality - The committee is grateful to the Trust for enabling appropriate persons to have an extended solitary retreat on the island during off-peak periods . Members of the committee have also worked hard to plan and enable a guided retreat to take place in September 2021 and we are very grateful for the partnership and assistance from St Beuno's Retreat Centre near St Asaph . This has meant that all of the places on the retreat have been taken and we also have a waiting list !
As with all the other committees and work of our Trust , the Spirituality Committee depends on members' dedication , goodwill and hard work in their spare time . The trust is very grateful for all they do and give . Thank you.
3. Arts Projects
Unfortunately , due to covid-19 the arts project had to be suspended in 2020 .
4. Publications
These continued in 2020 in the form of the printed 2020 Yearbook and two electronic copies of Y Cafn . These are sent to members .The Yearbook is also available for sale via its website , thus enabling the Trust to reach out to a wider audience than just members and those lucky enough to visit Enlli in person.
5. The Farm
The farm is leased to Gareth Roberts and is farmed with sympathy to the unique needs of Enlli's flora and fauna . The work being carried out contributes vastly to the community and environment on Enlli..
6. The Buildings Committee
2020 was a busy year for the buildings committee . Three principal projects were the focus of the buildings committee , whilst aiding and supporting the general management and maintenance of the buildings on Bardsey .
Page 2
Bardsey Island Trust Limited(The)
Report of the Trustees
for the Year Ended 31 December 2020
OBJECTIVES AND ACTIVITIES
Following the 'blue sky thinking' sessions in the autumn of 2019 a tendering process was initiated for an architect to develop a project focused around the Storws . This appointment included three key elements , a review and consolidation of the existing structure , a consultation process and then the development of concept designs . An architect was chosen , however following the development of covid-19 the appointment was delayed due to financial uncertainty . Following a successful funding application the appointment was made and the project initiated in August 2020 . Multiple visits and consultation events have taken place to the end of 2020 with the project continuing and this stage due to complete in spring 2021.
During the covid -19 lockdown the buildings committee focused it's resources in supporting the development of the Management Plan , contributing significantly to the strategic aim relating to buildings and infrastructure on the island . The Buildings Committee will continue to support the completion of the management plan in 2021 and then use it as a guide for the development of future work.
Due to the financial shortfall due to covid-19 an application was made to the HLF Covid Relief Fund to cover the cost of emergency repairs and then to fund a condition survey and Conservation Management Plan for all the buildings on Bardsey .This funding application was successfully received in September 2020. The emergency repair work was delayed due to adverse weather conditions limiting crossings to Bardsey . A tender process was initiated to appoint an architect to undertake a Condition Survey and Conservation Management Plan . PegwA were appointed in December to undertake this work before the 2021 visitor season .
an application was made to the HLF Covid Relief a condition survey and Conservation Management Plan was successfully received in September 2020. The conditions limiting crossings to Bardsey . A tender process was Survey and Conservation Management Plan . PegwA were to support the work of the wardens in small repair and year for the committee with planned projects exploring a large number of windows and rooflights , the tendering study to convert one of the yards into a bunkhouse and then we were unable to meet in the spring as planned but were able . As ever discussions were far ranging and included a long session the accidental introduction of rats onto the island would be the orchard , the construction of new ponds and the hide and plant more arable crops , these latter are sacrificial a very productive polytunnel and the communal vegetable patch
The buildings committee continued to support the work of the wardens in small repair and maintenance jobs when required.
2021 promises to be another busy year for the committee with planned projects exploring additional renewable energy infrastructure , the replacement of a large number of windows and rooflights , the tendering and appointment of an architect to undertake a feasibility study to convert one of the yards into a bunkhouse and then to manage the projects continuing from 2020.
7. The Scientific Committee
Due to the covid-19 pandemic we were unable to meet in the spring as planned but were able to hold a meeting outdoors on the island on 10th September . As ever discussions were far ranging and included a long session on the preparation of a biosecurity plan for Enlli . Clearly the accidental introduction of rats onto the island would be disastrous for the many ground-nesting seabirds.
We also discussed details concerning the orchard , the construction of new ponds and the opening up of the green lane . We hope to rebuild the Solfach hide and plant more arable crops , these latter are sacrificial crops to feed many bird species . The wardens have built a very productive polytunnel and the communal vegetable patch has produced excellent organic produce both for island residents and to sell to visitors.
Page 3
Bardsey Island Trust Limited(The)
Report of the Trustees
for the Year Ended 31 December 2020
FINANCIAL REVIEW
Financial position
It will not come as a surprise to learn that 2020 was a year like no other yet experienced . That the Trust ultimately came through it in a slightly battered but still strong position is a tribute to all involved : the employees , residents , members , supporters and third party agencies , to all of whom a huge vote of thanks is due.
The year started with the potentially devastating news of landslips on the track serving Porth Meudwy leading to its closure and a search for possible sources for funding its repair .While discussions continue with the National Trust , who own the land , the track was eventually repaired by Gwynedd Council following the intervention and tireless efforts of Gareth Roberts in his role as councillor for Aberdaron . We are extremely grateful to all those who contributed to our emergency fund appeal for the track . Until on-going discussions regarding the future maintenance of the track have happened the funds raised have been put to one side.
No sooner than a sigh of relief had been taken over the track , covid-19 raised its head and led to the closure of the island for most of the 2020 season . Initial budgets and plans had to be revised rapidly downwards suggesting a grim year and significant loss to the Trust .
needs it was decided that it would be counter productive the wardens , Mari Huws and Emyr Jones , continued to be some long overdue jobs . Administration , which with application for Gwynedd Council Covid Support application to the Wales Council for Voluntary Action scheme , which resulted in an interest free loan of £7,500 successful and led to an award of £36,800 . The hard to tight deadlines to secure the grants cannot to face 2021's on-going challenges . Due to covid in 2020 , leading to a much larger accumulation of cash a limited basis mid summer but inevitably income from the completion of the wind turbine , development of the . The erection of a polytunnel has enabled the wardens recovered from the sharp losses at the beginning and their subscriptions and donations is greatly appreciated schemes , with the former being used for specific projects and planning with the successful funding applications capital funding to put it on a more sustainable footing ,
In view of on-going maintenance needs it was decided that it would be counter productive to take advantage of the government furlough scheme and the wardens , Mari Huws and Emyr Jones , continued to be employed as usual and were kept more than busy addressing some long overdue jobs . Administration , which with the closure of the island grew rather than decreased , continued to be carried out by the part-time freelance contractor working from home. The first ray of hope came from the successful application for Gwynedd Council Covid Support Grants and the award of £20,000 . This was followed by an application to the Wales Council for Voluntary Action (WCVA) for a grant under their Third Sector Resilience Fund scheme , which resulted in an interest free loan of £7,500 and grant of £22,500 . A further grant application was again successful and led to an award of £36,800 . The Trust's gratitude to these organisations and to many who worked hard to tight deadlines to secure the grants cannot be overstated and at the end of 2020 left the Trust on a secure footing to face 2021's on-going challenges . Due to covid restrictions only limited work was able to take place on the properties in 2020 , leading to a much larger accumulation of cash than would be expected . In 2021 this will fund the accompanying backlog of work and planned expenditure.
We were finally able to open on a limited basis mid summer but inevitably income from rentals and day visitors was considerably lower than in past years.
On a more positive note , 2020 saw the completion of the wind turbine , development of the orchard and an upgrade of Ty Bach , the wardens residence . The erection of a polytunnel has enabled the wardens and others to be more self-sufficient in vegetables and to contribute to the wellbeing on those on Enlli . Investments inevitably had a rocky year but largely recovered from the sharp losses at the beginning of the pandemic and ended the year higher than they started. The continued support of members and their subscriptions and donations is greatly appreciated . Use is made of both Localgiving and Easyfundraising schemes , with the former being used for specific projects and the latter resulting in a donation each time participants shop online with selected retailers.
2020 saw an investment in strategic planning with the successful funding applications moving the Trust towards being in a strong position to apply for major capital funding to put it on a more sustainable footing , improve conditions for residents and visitors and prepare us for a prosperous future.
Investment policy and objectives
Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees think fit .A cautious and increasingly ethical approach continues to be taken on investments . Investments other than bank deposits are now in an Old Mutual Multifunds Collective Investment Account in a range of corporate bonds and equity backed investments together with an Aviva investment portfolio .
Investments are made on a long term basis to ensure future financial viability .
The charity's financial advisor, Nigel Roberts, Element FPM Ltd, provides financial advice as required.
Page 4
Bardsey Island Trust Limited(The)
Report of the Trustees
for the Year Ended 31 December 2020
FINANCIAL REVIEW
Reserves policy
Details of the Charity's funds are shown in note 17.
General Reserve - represents net income from on-going operations.
Designated Funds - earmarked by the Trustees for particular purposes
Abbey Maintenance Fund - to establish an interpretation board for the abbey
Capel Enlli fund - specific donations used to maintain the chapel
Mother Mary Clare fund - specific donations used to fund bursaries on the island and the net cost of religious books and icons.
-
donations used to fund bursaries on the island and the net cost net income from past entitlements to Single Farm Payments
-
to restrictions imposed by the donor and capital equipment
-
depreciation of grant aided assets, major capital assets funded
-
governing document, a deed of trust, and constitutes a
Island Capital fund - represents the net income from past entitlements to Single Farm Payments and is used to cover the cost of major capital projects on the Island,.
Restricted Funds - funds subject to restrictions imposed by the donor and capital equipment reserves to cover the depreciation on major capital items and those grant aided:
Funded Equipment - to cover the depreciation of grant aided assets, major capital assets funded from the Island Capital Fund and the net book value of furniture donated or bequeathed
Education Project fund - the balance of a grant to take school children to the island.
Carreg Mawr Murals Fund - to cover restoration work on the Brenda Chamberlain murals and Carreg Fawr
Slipway and Adfer Enlli fund - for the restoration of the island buildings and infrastructure
Endowment Fund - initial appeal funds (inflation adjusted) plus realised gains on investments
Revaluation Fund - unrealised gains on investments.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity is constituted as a company limited by guarantee and a registered charity; it is governed by its Memorandum of Association dated 24 November 1977 and its current constitution which was adopted on 18th May 2019 at the AGM of members .It is registered as a charity with the Charity Commission. Membership at the end of 2020 was 333 .Every member in the event of the charity being wound up undertakes to contribute to any liabilities up to a maximum of £1 .
Recruitment and appointment of new trustees
All members are circulated with invitations to nominate trustees prior to the AGM; this advises them of vacancies and requests nominations for the AGM. When necessary, elections for trustees are by secret postal ballot of the members by single transferable vote as defined by the Electoral Reform Society. Trustees are appointed for a period of four years and no person may serve more than eight consecutive years unless at each successive election thereafter they are nominated by twelve members or one per cent of membership whichever is the greater and 75% of fellow directors.
Page 5
Bardsey Island Trust Limited(The)
Report of the Trustees
for the Year Ended 31 December 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
As set out in the Articles of Association, the affairs of the charity are managed by a council of trustees, numbering not less than 10 nor more than 21. The council meets approximately 6 times a year and between meetings key matters are progressed either by email or by the executives.
New trustees are given copies of all constitutional documents, minutes of previous council meetings and encouraged to have briefing sessions with other trustees.
Risk management
The trustees review health and safety issues at each council meeting and there is an ongoing programme to review all the charity's policies.Paths, tracks and stiles are regularly checked and maintained and there is a detailed review of all the buildings in the spring and autumn. Projects are approved by council and trustees ensure they are consistent with the charity's objectives.
- Projects are approved by council and trustees ensure they
Comprehensive Risk Assessments have been carried out and are reviewed regularly.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
01344364 (England and Wales)
Registered Charity number 507153
Registered office
The Port House Port Penrhyn Bangor Gwynedd LL57 4HN
Trustees
Mrs S Robinson M Elias (resigned 18.5.20) R Gritten Ms H Meredydd (resigned 18.5.20) E Gruffydd H E Wilcox The Revd C R W Townsend J Hughes Jones E Parry S M Stacey A Guile L Williams A J Tyne
Company Secretary
I Harris
Solicitors
Carter Vincent LLP The Port House Port Penrhyn Bangor LL57 4HN
Page 6
Bardsey Island Trust Limited(The)
Report of the Trustees
for the Year Ended 31 December 2020
REFERENCE AND ADMINISTRATIVE DETAILS
Advisers Element FPM Ltd 24 Green Meadows Hawarden Flintshire CH5 3SL
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ S M Stacey - Trustee
Page 7
Bardsey Island Trust Limited(The)
Statement of Financial Activities
for the Year Ended 31 December 2020
| DR Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 62,872 Charitable activities 4 Access and Accommodation 51,239 Investment income 3 130 Total 114,241 EXPENDITURE ON Charitable activities 5 Access and Accommodation 92,872 Net gains on investments - NET INCOME 21,369 RECONCILIATION OF FUNDS Total funds brought forward 92,550 TOTAL FUNDS CARRIED FORWARD 113,919 |
AFT Restricted Endowment funds fund £ £ 42,339 - - - - - 42,339 - 3,972 - 4,051 - 42,418 - 121,886 241,200 164,304 241,200 |
31.12.20 31.12.19 Total Total funds funds £ £ 105,211 25,390 51,239 115,446 130 76 156,580 140,912 96,844 113,988 4,051 24,478 63,787 51,402 455,636 404,234 519,423 455,636 |
31.12.20 31.12.19 Total Total funds funds £ £ 105,211 25,390 51,239 115,446 130 76 156,580 140,912 96,844 113,988 4,051 24,478 63,787 51,402 455,636 404,234 519,423 455,636 |
|---|---|---|---|
| 140,912 113,988 24,478 |
|||
| 51,402 404,234 |
|||
| 455,636 | |||
The notes form part of these financial statements
Page 8
Bardsey Island Trust Limited(The)
Balance Sheet
31 December 2020
| DR Unrestricted funds Notes £ FIXED ASSETS Tangible assets 10 15,926 Investments 11 - 15,926 CURRENT ASSETS Stocks 12 500 Debtors 13 55,802 Cash at bank 152,115 208,417 CREDITORS Amounts falling due within one year 14 (102,924) NET CURRENT ASSETS 105,493 TOTAL ASSETS LESS CURRENT LIABILITIES 121,419 CREDITORS Amounts falling due after more than one year 15 (7,500) NET ASSETS 113,919 FUNDS 17 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
AFT Restricted Endowment funds fund £ £ 9,288 101,000 92,888 123,000 102,176 224,000 - - - - 62,128 17,200 62,128 17,200 - - 62,128 17,200 164,304 241,200 - - 164,304 241,200 |
31.12.20 Total funds £ 126,214 215,888 342,102 500 55,802 231,443 287,745 (102,924) 184,821 526,923 (7,500) 519,423 113,919 164,304 241,200 519,423 |
31.12.19 Total funds £ 127,041 211,837 338,878 500 54,226 134,790 189,516 (72,758) 116,758 455,636 - 455,636 92,550 121,886 241,200 455,636 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 9
Bardsey Island Trust Limited(The)
Balance Sheet - continued 31 December 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S M Stacey - Trustee
The notes form part of these financial statements
Page 10
Bardsey Island Trust Limited(The)
Notes to the Financial Statements
for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
-
Statement of Financial Activities once the charity has
-
as expenditure as soon as there is a legal or constructive it is probable that a transfer of economic benefits will be can be measured reliably. Expenditure is accounted for that aggregate all cost related to the category. Where they have been allocated to activities on a basis
-
the following annual rates in order to write off each asset - 20% on cost and 10% on cost of cost and net realisable value, after making due allowance
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost and 10% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 11
Bardsey Island Trust Limited(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| DRAF 2. DONATIONS AND LEGACIES Donations Gift aid Subscriptions Fees for Filming Heritage Lottery Fund Orchard grant Cyngor Gwynedd grant WCVA grant 3. INVESTMENT INCOME Interest received 4. INCOME FROM CHARITABLE ACTIVITIES Activity Letting Access and Accommodation Boat Licence Access and Accommodation Sale of Enlli Merchandise Access and Accommodation Rent of farm and other properties Access and Accommodation 5. CHARITABLE ACTIVITIES COSTS Access and Accommodation |
T Direct Costs £ 77,173 |
31.12.20 £ 8,775 5,709 10,202 1,225 36,800 - 20,000 22,500 105,211 31.12.20 £ 130 31.12.20 £ 25,081 3,083 1,401 21,674 51,239 Support costs (see note 6) £ 19,671 |
31.12.19 £ 3,103 - 9,741 2,546 - 10,000 - - |
31.12.19 £ 3,103 - 9,741 2,546 - 10,000 - - |
|---|---|---|---|---|
| 25,390 | ||||
| 31.12.19 £ 76 31.12.19 £ 81,898 5,938 3,267 24,343 |
||||
| 115,446 | ||||
| Totals £ 96,844 |
||||
continued...
Page 12
Bardsey Island Trust Limited(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| DRAFT 6. SUPPORT COSTS Governance Management Finance costs £ £ £ Access and Accommodation 16,945 1,836 890 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 31.12.20 £ Depreciation - owned assets 7,497 8. TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor ended 31 December 2019. Trustees' expenses Rod Gritten ,a trustee , was paid £315 for travelling expenses in the year. 9. STAFF COSTS The average monthly number of employees during the year was as follows: 31.12.20 Charitable activity 2 No employees received emoluments in excess of £60,000. 10. TANGIBLE FIXED ASSETS Freehold Plant and property machinery £ £ COST At 1 January 2020 101,000 114,556 Additions - 6,670 At 31 December 2020 101,000 121,226 DEPRECIATION At 1 January 2020 - 88,515 Charge for year - 7,497 At 31 December 2020 - 96,012 NET BOOK VALUE At 31 December 2020 101,000 25,214 At 31 December 2019 101,000 26,041 |
Totals £ 19,671 31.12.19 £ 8,567 for the year 31.12.19 1 Totals £ 215,556 6,670 222,226 88,515 7,497 96,012 126,214 127,041 |
|---|---|
continued...
Page 13
Bardsey Island Trust Limited(The)
| Notes to the Financial Statements | Notes to the Financial Statements | -continued | ||
|---|---|---|---|---|
| for the | Year Ended 31 December 2020 | |||
| 11. | FIXED ASSET INVESTMENTS | |||
| Listed | ||||
| investments | ||||
| £ | ||||
| MARKET VALUE | ||||
| At 1 January 2020 | 211,837 | |||
| Revaluations | 4,051 | |||
| At 31 December 2020 | 215,888 | |||
| NET BOOK VALUE | ||||
| At 31 December 2020 | 215,888 | |||
| 12. 13. 14. |
DRAFT At 31 December 2019 There were no investment assets outside the UK. STOCKS 31.12.20 £ Stocks 500 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 £ Other debtors 54,401 Prepayments 1,401 55,802 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 £ Trade creditors 2,907 VAT 8,735 Other creditors 84,865 Accrued expenses 6,417 |
211,837 31.12.19 £ 500 31.12.19 £ 52,888 1,338 54,226 31.12.19 £ 203 6,807 58,363 7,385 |
||
| 102,924 | 72,758 |
continued...
Page 14
Bardsey Island Trust Limited(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| DRA Other loans (see note 16) 16. LOANS An analysis of the maturity of loans is given below: Amounts falling due between two and five years: Other loans - 2-5 years 17. MOVEMENT IN FUNDS Unrestricted funds General fund Abbey Maintenance Capel Enlli Mother Mary Clare Island Capital Restricted funds Revaluation Carreg Fawr Murals Funded Equipment Slipway and Adfer Enlli Education Project Orchard HLF Roofing Endowment funds Endowment TOTAL FUNDS |
FT At 1.1.20 £ 77,014 750 4,653 3,150 6,983 92,550 88,837 5,156 13,260 4,552 3,570 6,511 - 121,886 241,200 455,636 |
31.12.20 £ 7,500 31.12.20 £ 7,500 Net movement in funds £ 21,369 - - - - 21,369 4,051 - (3,972) 5,539 - - 36,800 42,418 - 63,787 |
31.12.19 £ - 31.12.19 £ - At 31.12.20 £ 98,383 750 4,653 3,150 6,983 |
|---|---|---|---|
| 113,919 92,888 5,156 9,288 10,091 3,570 6,511 36,800 |
|||
| 164,304 241,200 |
|||
| 519,423 |
Page 15
continued...
Bardsey Island Trust Limited(The)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| DR Unrestricted funds General fund Restricted funds Revaluation Funded Equipment Slipway and Adfer Enlli HLF Roofing TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Abbey Maintenance Capel Enlli Mother Mary Clare Island Capital Restricted funds Revaluation Carreg Fawr Murals Funded Equipment Slipway and Adfer Enlli Education Project Orchard Endowment funds Endowment TOTAL FUNDS |
A Incoming resources £ 114,241 - - 5,539 36,800 42,339 156,580 At 1.1.19 £ 47,345 750 4,481 3,150 6,983 62,709 68,359 5,156 18,688 4,552 3,570 - 100,325 241,200 404,234 |
FT Resources expended £ (92,872) - (3,972) - - (3,972) (96,844) Net movement in funds £ 26,066 - 172 - - 26,238 24,478 - (5,825) - - 6,511 25,164 - 51,402 |
Gains and Movement losses in funds £ £ - 21,369 4,051 4,051 - (3,972) - 5,539 - 36,800 4,051 42,418 4,051 63,787 Transfers between At funds 31.12.19 £ £ 3,603 77,014 - 750 - 4,653 - 3,150 - 6,983 3,603 92,550 (4,000) 88,837 - 5,156 397 13,260 - 4,552 - 3,570 - 6,511 (3,603) 121,886 - 241,200 - 455,636 |
|---|---|---|---|
Page 16
continued...
Bardsey Island Trust Limited(The)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 130,651 | (104,585) | - | 26,066 |
| Capel Enlli | 260 | (88) | - | 172 |
| 130,911 | (104,673) | - | 26,238 | |
| Restricted funds | ||||
| DRAFT Revaluation - - 24,478 Funded Equipment - (5,825) - Orchard 10,001 (3,490) - 10,001 (9,315) 24,478 TOTAL FUNDS 140,912 (113,988) 24,478 RELATED PARTY DISCLOSURES Haf Meredydd, a trustee, was paid a fee of £1,046 (£1,131 2019) for translating the 2020 Year Book. |
24,478 (5,825) 6,511 25,164 51,402 |
18. RELATED PARTY DISCLOSURES
Page 17
Bardsey Island Trust Limited(The)
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations | 8,775 | 3,103 | |
| Gift aid | 5,709 | - | |
| Subscriptions | 10,202 | 9,741 | |
| Fees for Filming | 1,225 | 2,546 | |
| Heritage Lottery Fund | 36,800 | - | |
| Orchard grant | - | 10,000 | |
| Cyngor Gwynedd grant | 20,000 | - | |
| WCVA grant | 22,500 | - | |
| Investment income Interest received Charitable activities Letting Boat Licence Sale of Enlli Merchandise Rent of farm and other properties Total incoming resources EXPENDITURE Charitable activities Wages Warden fees Rates and water Insurance Publications Sundries Boat transport Rubbish removal |
DRAFT 105,211 130 25,081 3,083 1,401 21,674 51,239 156,580 24,893 - 1,591 13,241 3,149 171 4,864 704 |
25,390 76 81,898 5,938 3,267 24,343 115,446 140,912 20,407 3,476 1,539 12,549 3,640 750 6,157 654 |
|
| Direct cost of letting | 9,978 | 14,795 | |
| Maintenance | 8,537 | 19,199 | |
| Tractor and equipment costs | 1,801 | 962 | |
| Cost of Enlli Merchandise | 747 | 489 | |
| Fixtures and fittings | 7,497 | 8,567 | |
| 77,173 | 93,184 | ||
| Support costs | |||
| Management | |||
| Office Administration | 14,456 | 12,538 | |
| Carried forward | 14,456 | 12,538 |
This page does not form part of the statutory financial statements
Page 18
Bardsey Island Trust Limited(The)
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Management | ||
| Brought forward | 14,456 | 12,538 |
| Professional fees | 1,985 | 1,567 |
| Meetings and translation | 504 | 1,848 |
| 16,945 | 15,953 | |
| Finance | ||
| Postage and stationery | 715 | 941 |
| Bank charges | - | 30 |
| General Office expenses | 1,121 | 2,707 |
| Governance costs Accountancy and legal fees Total resources expended Net income |
T 1,836 890 96,844 59,736 |
3,678 1,173 113,988 26,924 |
This page does not form part of the statutory financial statements
Page 19