2021-03-31-accounts

CHAIRMAN'S REPORT	CHAIRMAN'S REPORT			1-2
REPORT OF THK	COUNCIL			3-5
INDEPENDENT EXAIVIINKR'S		REPORT		6-7
STATEMENT OF	FINANCIAL	ACTIVITIES
BALANCE SHEET				9-10
NOTES FORMING	PART OF	THE FINANCIAL	STATEMENTS	11-24

		Note		Unrestricted		Restricted		Endowment		Total		Total
				Funds		Funds		Funds		2021		2020
INCOME
Donations	and Grants			104,977		209,953				314,930		182,196
Charitable	Activities			9,092		27,973				37,065		152,788
Investments				2						2		22
Total Income				114,071		237,926				351,997		335,006
EXPENDITURE
Charitable	Activities			46,064		205,299				251,363		340,532
Net Income/(Expenditure)		11		68,007		32,627				100,634		(5,526)
Transfers between Funds				2,103		(2,103)
Net Movement	in Funds			70,110		30,524				100,634		(5,526)
Reconciliation	ofFunds:
Total Funds Brought Forward				469,672		651,658		1,354,517		2,475,847		2,481,373
Total Funds Carried Forward			f,	539,782	K	6S2,182	f,	1,354,517	f,	2,576,4S1	K	2,475,847

		Note		2021		2020
FIXEDASSETS
Tangible Assets		13		2,476,864		2,473,226
CURRENT ASSETS
Stock		14	1,197		1,237
Debtors		15	12,450		15,172
Cash at Bank			131,836		52,355
Cash in Hand			355		526
			145,838		69,290
CREDITORS - amounts	falling
due within one year		16	46,221		66,669
NKT CURRENT ASSETS				99,617		2,621
TOTAL NET ASSETS				2,576,481		2,475,847
The Funds ofthe Charity:
CAPITAL FUNDS
Endowments		17		1,354,517		1,354,517
INCOME FUNDS
Restricted		18		682,182		651,658
Unrestricted		19		539,782		469,672
TOTAL FUNDS				2,576,481		2,475,847

Garthgwynion	Charities	55,000
Powys County	Council	23,000
Welsh Government		10,000
The Margaret	Owen Trust	5,000
The Gwendoline &Margaret Davies Charity Trust		1,500
Others		10,477

			104,977
Restricted Funds
Welsh Government Grants			100,907
The Lambert Family Charitable		Fund	50,000
Job Retention Scheme	Grants		31,190
ACW Lottery Grant			13,873
Federation ofMuseums	and Art	Galleries in Wales	10,577
Dyfi Estuary Book Sponsorship			2,000
Educational Foundation	Donations		1,406
			209,953

		Unrestricted	Restricted	Total	Total
		Funds	Funds	2021	2020
			f.
Fees		(609)		(609)	9,020
Events and Concerts (Note 5)					6,065
Festival (Note 6)		7,250	7,210	14,460	63,279
Exhibitions	(Note 7)	2,451	11,250	13,701	57,750
Royal House	(Note 8)		9,513	9,513	16,674
		9,092	27,973	37,065	152,788

ment Income
	2021	2020
Wayleave		1
Bank Deposit Interest		21
		22

and Concerts
	2021	2020
Income		6,065
Expenditure	(107)	(5,960)
(Deficit)/Surplus	(107)	105

			2021	2020
INCOME
BoxOffice Donations, Grants	and Sponsorship	*	7,210	36,642 17,387
Benefactors			7,250	9,250
			14,460	63,279
EXPENDITURE
Performers' Fees and Expenses			3,410	40,843
Freelance Staff			3,000	9,234
Filming at Festival			800
Flowers and Stage	Decoration			285
Printing, Publicity	and Advertising		260	8,300
Fees and Subsciptions			150
Piano Hire and Tuning				3,976
Catering				556
			7,620	63,194
SURPLUS			6,840	S5

Exhibitions
			2021		2020
INCOME
Commission			2,403		31,043
Sales and Fees			48		6,507
Donations Grants and Sponsorship		*	1,250 10,000		2,600 17,600
			13,701		57,750
EXPENDITURE
Wages and NI					3,260
Curatorial Services			4,000		1,000
Printing, Publicity	and Advertising		757		8,829
Gallery Security					11,003
Insurance			2,229		2,709
Filming Exhibitions			600
Packaging and Transport			8,701		681
Workshop and Exhibition		Fees			8,700
Fees and Subscriptions			378		832
Travel and Subsistence					1,663
Competition Prizes					3,250
Catering					368
			16,665		42,295
(DEFICIT)/SURPLUS			(2,964)	K	15,455

Royal House
	2021		2020
INCOME
Rent Receivable	9,513		16,674
EXPENDITURE
Wages and NI			638
Rates and Water	1,842		1,747
Light and Heat	667		1,016
Repairs and Maintenance	996		1,657
Insurance	1,122		1,101
Telephone/Internet			524
Licences	157		155
Sundry Repairs and Cleaning	2,125		1,176
Letting Agency Fees	491		2,204
Bank Charges	10		60
	7,410		10,27S
SURPLUS	2,103	K	6)396

Expenditure on Charitable	Expenditure on Charitable	Activities
			Unrestricted	Restricted	Total	Total
			Funds	Funds	2021	2020
Tabernacle Running	Costs (see * below)		39,260	176,507	215,767	215,403
Events and Concerts	(Note 5)		107		107	5,960
Educational Foundation				1,600	1,600	1,802
Festival (Note 6)			410	7,210	7,620	63,194
Exhibitions (Note 7)			6,287	10,378	16,665	42,295
Royal House (Note 8)				7,410	7,410	10,278
Acquisition ofWorks ofArt						1,600
Dyfi Estuary Book				2,194	2,194
			46,064	205,299	251,363	340,532
Tabernacle Runnin	Costs			2021		2020
StaffCosts:
Wages and NI			135,779		132,721
Pension Costs			3,263		3,382
				139,042		136,103
Insurance				9,829		9,646
Premises Costs:
Rates and Water			(2,291)		7,880
Light and Heat			14,736		19,568
Repairs and Maintenance		—Premises	14,717		13,100
Sundry Repairs and Cleaning			4,479		2,964
				31,641		43,512
Postage, Stationery	and Marketing			2,604		5,423
Website Development				16,460
General Office Costs:
Telephone			2,862		3,464
Payroll Services			900		450
Bank Charges			314		1,061
Credit Card Charges			651		2,253
				4,727		7,228
Accountancy				5,500		8,475
Depreciation				5,565		4,837
Miscellaneous				399		179
				215,767		215,403

10.Independent Examination	Fees	Fees
					2021	2020
Included under accountancy		in note 9	are amounts	payable to the
independent examiner	for independent		examination	ofthe Financial
Statements					850	850
11.Net Income
This is stated after charging:
					2021	2020
Depreciation ofTangible		Fixed Assets			5,565	4,837
12.Staff
					2021	2020
Total Staff Costs Comprised:
Wages and Salaries					128,508	128,142
Social Security Costs					7,271	8,477
Pension Costs					3,263	3,382
					139,042	140,001

		Freehold		Musical	Equipment		Total
		Property		Instruments	Furniture
					Fixtures
					&Fittings
Cost
At 1stApril 2020		2,430,624		44,035	266,612		2,741,271
Expenditure in Year		1,200			8,003		9,203
Disposals in Year
		2,431,824		44,035	274,615		2,750,474
Depreciation:
At 1stApril 2020				9,265	258,780		268,045
Amount Provided
in Year					5,565		5,565
Disposals in Year
				9,265	264,345		273,610
Net BookValue
at 31stMarch 2021	K	2,431,824	K	34,770	10,270	K	2,476,864
Net BookValue
at 31stMarch 2020	K	2,430,624	K	34,770	7,832	K	2,473,226

14.	Stock	Stock
	Stocks are stated at the lower ofcost and		net realisable	value:
					2021	2020
	Books, Catalogues	and Postcards			820	820
	Bar Stock				377	417
					1,197	1,237
15.	Debtors
					2021	2020
						K
	Trade Debtors				2,096	5,812
	Income Tax Recoverable				2,829	5,130
	P repayments				358	1,017
	Value Added Tax Recoverable				7,167	3,213
					12,450	15,172
16.	Creditors - amounts	falling due within	one year
					2021	2020
	Trade Creditors				9,479	29,523
	Taxation and Social Security				1,724
	Accruals				6,400	5,950
	Deferred Income - General				4,406	4,696
	Deferred Income - Festival Benefactors				4,212	6,500
	Loan - Estate ofCapt	RELambert			20,000	20,000
					46,221	66,669

					Movement	in Funds
				Balance	Incoming		Balance
				31stMarch 2020	Resources	Transfers	31stMarch 2021
The	ARO Lambert Fund			10,000			10,000
The	General Endowment	Fund		390,258			390,258
The	Nora Gibbs and Mollie Winterburn
	Bequest			104,778			104,778
The	Royal House Restoration		Fund	849,481			849,481
				1,354,517			1,354,517

Restricted	Funds
			Movement	in Funds
		Balance			Balance
		31stMarch 2020	Income	Expenditure	31stMarch 2021
The Old Tannery Appeal		467,028			467,028
Glas&yn Fund		163,182			163,182
Educational	Foundation	6,820	1,406	1,600	6,626
Auditorium	Sound System Fund	8,500			8,500
Festival			7,210	7,210
Exhibition	Funds	6,128	11,250	10,378	7,000
Dyfi Estuary Book Fund			3,238	2,194	1,044
Cultural Recovery Funds			156,547	136,078	20,469
StaffPosts	Fund		50,000	41,667	8,333
		651,658	229,651	199,127	682,182

Analysis ofNet Assets betw	een	Funds
			Tangible	Net Current
			Fixed Assets	Assets	Total
Endowments
The ARO Lambert Fund			10,000		10,000
The General Endowment	Fund		390,258		390,258
The Nora Gibbs and Mollie Winterburn
Bequest			104,778		104,778
The Royal House Restoration		Fund	849,481		849,481
			1,354,517		1,354,517
Restricted Funds
The Old Tannery Appeal			459,984	7,044	467,028
Glasfryn Fund			163,182		163,182
Educational Foundation				6,626	6,626
Auditorium Sound System Fund				8,500	8,500
Exhibition Funds				7,000	7,000
Dyfi Estuary Book Fund				1,044	1,044
Cultural Recovery Funds				20,469	20,469
StaffPosts Fund				8,333	8,333
Unrestricted Funds			499,181	40,601	539,782
			2,476,864	99,617	2,576,481