**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