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





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|||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|





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|||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|





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



||||104,977|
|---|---|---|---|
|Restricted Funds||||
|Welsh Government<br>Grants|||100,907|
|The Lambert Family Charitable||Fund|50,000|
|Job Retention<br>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<br>Foundation|Donations||1,406|
||||209,953|



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|||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|





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|ment<br>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|





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||||2021|2020|
|---|---|---|---|---|
|INCOME|||||
|BoxOffice<br>Donations,<br>Grants|and Sponsorship|*|7,210|36,642<br>17,387|
|Benefactors|||7,250|9,250|
||||14,460|63,279|
|EXPENDITURE|||||
|Performers'<br>Fees and Expenses|||3,410|40,843|
|Freelance Staff|||3,000|9,234|
|Filming at Festival|||800||
|Flowers and Stage|Decoration|||285|
|Printing,<br>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|





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





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|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|





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|Expenditure<br>on Charitable|Expenditure<br>on Charitable|Activities|||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||Funds|Funds|2021|2020|
|Tabernacle<br>Running|Costs (see * below)||39,260|176,507|215,767|215,403|
|Events and Concerts|(Note 5)||107||107|5,960|
|Educational<br>Foundation||||1,600|1,600|1,802|
|Festival (Note 6)|||410|7,210|7,620|63,194|
|Exhibitions<br>(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<br>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|





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|10.Independent<br>Examination|Fees|Fees|||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|Included<br>under accountancy||in note 9|are amounts|payable to the|||
|independent<br>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|





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|||Freehold||Musical|Equipment||Total|
|---|---|---|---|---|---|---|---|
|||Property||Instruments|Furniture|||
||||||Fixtures|||
||||||&Fittings|||
|Cost||||||||
|At 1stApril 2020||2,430,624||44,035|266,612||2,741,271|
|Expenditure<br>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<br>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|





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|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|





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||||||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|



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|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<br>Recovery Funds|||156,547|136,078|20,469|
|StaffPosts|Fund||50,000|41,667|8,333|
|||651,658|229,651|199,127|682,182|





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|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<br>Foundation||||6,626|6,626|
|Auditorium<br>Sound System Fund||||8,500|8,500|
|Exhibition<br>Funds||||7,000|7,000|
|Dyfi Estuary Book Fund||||1,044|1,044|
|Cultural<br>Recovery Funds||||20,469|20,469|
|StaffPosts Fund||||8,333|8,333|
|Unrestricted<br>Funds|||499,181|40,601|539,782|
||||2,476,864|99,617|2,576,481|



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