REGISTERED COMPANY NUMBER: 2328631(England and Wales) REGISTERED CHARITY NUMBER: 701163
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR MENTER FACHWEN
MENTER FACHWEN
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 to 8 |
| Cash Flow Statement | 9 |
| Notes to the Cash Flow Statement | 10 |
| Notes to the Financial Statements | 11 to 17 |
| Detailed Statement of Financial Activities | 18 to 19 |
MENTER FACHWEN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
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 period ended 31 March 2022. 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 2015).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity's stated aims are to work with people with disabilities. Specifically, Menter Fachwen seeks to ensure that people with learning disabilities are given opportunities to become valued members of their communities, gain respect, self-confidence and have opportunities to develop and increase their skills.
To deliver this aim, the charity runs several small businesses where people both deliver a service to the community and gain skills in the process. The small business employs a supervisor to provide day to day support to beneficiaries, and specialist support workers to deliver specific skills-based training.
In addition, Menter provides support for people who are learning new skills to enable them to live fulfilling lives in their local community for the first time.
Menter Fachwen is engaged in life-skills training which are run from six separate independent life skills bases.
The 2021-25 Strategic Plan emphasised the following:
-
Restructure businesses so that they had greater relevance to local communities, relocate the existing office headquarters to the old school in Cwm y Glo, establish a new retail base in Cwm y Glo and relocate the Café, Vintage Shop and the Walk and Discover Project. This facility will focus on community involvement.
-
Continue expansion of the core work by developing a base in Deiniolen and Fachwen for outdoor based activities, this will be called the MENTRO ALLAN Project and will be available to all staff, volunteers, and beneficiaries.
Public benefit
The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding the activities undertaken by Menter Fachwen during the period. The trustees are satisfied that the information provided in the report and accounts meets the public benefit reporting requirements.
Volunteers
There are eleven regular volunteers working throughout the organisation who have contributed over 1,100 hours of their time volunteering.
Other volunteers take part on a regular basis to gain different skills and experiences; we have close ties and connections with local schools and colleges, this has led to many volunteering opportunities for young adults looking to gain experience in the workplace.
ACHIEVEMENT AND PERFORMANCE
Charitable activities - How our activities deliver public benefits
Menter Fachwen continues to provide good quality day services for fifty people with learning disabilities. We take every opportunity to develop people’s potential in our community based social enterprises.
We work closely with other organisations to ensure we provide the best possible experience. Our activities are always person centred and focused on community participation in ordinary places.
Most of our income is generated from our Service Level Agreement with Gwynedd Council’s Social Services Department, which is a contract we take very seriously.
Page 1
MENTER FACHWEN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
FINANCIAL REVIEW
Financial position
The unrestricted funds have risen to £670,902 from £653,387 in 2021.
Principal funding sources
During the period, the main source of income was from the Local Authority.
FINANCIAL REVIEW
Reserves policy
The charity recognises and accepts its responsibilities as a charity, limited company, and employer to protect the financial viability and continuation of the organisation. In accordance with good practice, it is agreed that monies are allocated towards a reserve. The purpose of maintaining adequate reserves is:
-
To ensure cash flow (e.g. cover delays in revenue funding)
-
To cover unforeseen circumstances.
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To provide the opportunity to attract/identify alternative funding should existing funds be subject to cutbacks.
-
To ensure that should funding cease, the organisation would be able to fulfil all its financial and legal obligations when winding up.
The Charity Commissions best practice guidelines recommends that at least 3 months’ salary costs are kept in reserve, this is to meet any unforeseen financial challenges. This would currently amount to £130,000. We will continue to look for opportunities to build reserves for the future.
FUTURE PLANS
We have been carrying out improvements to all our properties. This will continue in the coming years. Consolidation of our existing properties and land has been the priority and will continue to be for the foreseeable future.
We have a responsibility to look after and improve the value of our assets.
CWM Y GLO
Menter Fachwen has expressed an interest in Ysgol Cwm y Glo. The aim would be to relocate all activities from London House to the School. We have also been asked to submit a business plan to reinforce our EOI. We would relocate the office base, develop the Vintage Shop, the Café would become a Coffee Shop selling homemade cakes and good quality hot and cold drinks. The Walk & Discover Centre would have a permanent base on site and a permanent exhibition of the history of the quarries would be housed in that building. The Independent Living Skills bases 1 & 2 would be more accessible to wheelchair users and members of the public who have mobility issues and grant funding will be sought for a ‘changing room’s disabled access toilet facility.
DEINIOLEN
In 2021 EB’s in Deiniolen changed its day-to-day activities. All three floors are being utilised and used to their full potential as independent living skills bases. EB’s has ceased trading as a café but we are working with the community to allow access to both the kitchen and the café space for community use. The building is now a community venue hosting events connected to the World Heritage status of the Quarries in Dinorwig.
The community use the building regularly to attend various talks and exhibitions where refreshments are available for their use.
FACHWEN
Bryn Peris is an eight-acre site with a workshop, cottage, and log cabin, and most of the site is in good repair. The lower part of this site needs major repairs – especially to the log cabin and surrounding area. The electricity supply to the log cabin has perished and now needs repairing and upgrading, the pump to the septic tank has broken which means the toilets cannot be used and the site needs fencing due to petty vandalism. We shall be searching for grant funding to help us achieve this goal
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, memorandum, and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Trustees are recruited from the local community, Community of interest or have specific skills sought by the organisation. The current Board of Directors has identified areas of skill and knowledge in their policies and actively recruits to meet needs, whilst being mindful to maintain a representative mix of people. The process of recruitment involves informal meetings, visits to meet staff and beneficiaries and then a formal voting procedure at the Board itself.
Page 2
MENTER FACHWEN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Organisational structure
The Board of Directors meet approximately every six weeks to discuss a set agenda. There is also a sub-committee that deals specifically with Finance. The main Board receives reports on Finance, Staffing, Strategic and Forward Planning, Beneficiary matters, Health and Safety and activities carried out on a day-to-day basis. There are 5 Directors with specific briefs: Chair, Finance, Personnel, Health and Safety, Parent /Carer representative.
Induction and training of new trustees
New trustees are given a pack of information containing company policies and a briefing on ethos, aims and objectives as well as the Memorandum and Articles. Prospective trustees are also given Charity Commission guidance relating to the responsibilities of the position. Prospective trustees attend at least two Board meetings before formal acceptance into the role.
Key management remuneration
The remuneration of paid staff is set by reference to norms in the voluntary sector.
STRUCTURE, GOVERNANCE AND MANAGEMENT Wider network
Menter Fachwen works within the field of the local community and the Community of Interest (disability) both locally, nationally, and internationally.
Related parties
Where a member of the Board has an interest in any area where transactions take place, they will declare their interest and take no part in that element of the meeting.
The Charity has a policy that all trustees declare their interests in a related party transaction.
Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed and established systems to mitigate these risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
2328631 (England and Wales)
Registered Charity number
701163
Registered office
Bryn Peris Fachwen Caernarfon Gwynedd
Trustees
Ms K Bardsley - Chair & Parent Representative B Jones – Vice Chair & Health & Safety Ms M Edwards - Personnel Ms G Wheldon - Parent Representative D A Pritchard - Company Secretary E Pritchard – Finance (resigned 28 September 2021) A Sharratt – Senedd Member Ms N Oliver-Finance (appointed 30 November 2021)
Page 3
MENTER FACHWEN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Senior Management Team
Catherine M Toms - Chief Executive Officer Iddon Williams - Finance Manager
Company Secretary Alan Pritchard
Independent examiner
D A Chidley FCA CTA W J Matthews & Son Chartered Accountants 11-15 Bridge Street Caernarfon Gwynedd LL55 1AB
Approved by order of the board of trustees on 29 November 2022 and signed on its behalf by:
............................................. K Bardsley - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MENTER FACHWEN
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2022, which are set out on pages 6 to 17.
Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s report
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those accounting records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
D A Chidley FCA CTA
W J Matthews & Son Chartered Accountants 11-15 Bridge Street Caernarfon Gwynedd LL55 1AB
Date:
Page 5
MENTER FACHWEN
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
| 31.03.22 | 31.03.21 | ||
|---|---|---|---|
| Total funds | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 4,509 | 966 |
| Charitable activities | |||
| Training | 4 | 765,999 | 788,396 |
| Other trading activities | 3 | 7,560 | 8,085 |
| ______ | ______ | ||
| Total | 778,068 | 797,447 | |
| EXPENDITURE ON | |||
| Charitable activities | 5 | ||
| Training | 745,553 | 720,496 | |
| ______ | ______ | ||
| NET INCOME/(EXPENDITURE) BEFORE INVESTMENTS GAINS/(LOSSES) | 32,515 | 76,951 | |
| NET GAINS/(LOSSES) ON INVESTMENTS | (15,000) | - | |
| NET MOVEMENT IN FUNDS | 17,515 | 76,951 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 653,387 | 576,436 | |
| TOTAL FUNDS CARRIED FORWARD | 670,902 | 653,387 | |
| ====== | ====== |
CONTINUING OPERATIONS
All income and expenditure have arisen from continuing activities.
The notes form part of these financial statements
Page 6
MENTER FACHWEN BALANCE SHEET AT 31 MARCH 2022
| 31.03.22 | 31.03.21 | ||
|---|---|---|---|
| Total funds | Total funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 11 | 400,011 | 408,005 |
| Investment property | 12 | 200,000 | 215,000 |
| _ | _ | ||
| 600,011 | 623,005 | ||
| CURRENT ASSETS | |||
| Stocks | 13 | 5,660 | 4,900 |
| Debtors | 14 | 5,419 | 7,010 |
| Cash at bank | 235,803 | 208,495 | |
| _ | _ | ||
| 246,882 | 220,405 | ||
| CREDITORS | |||
| Amounts falling due within one year | 15 | (103,807) | (102,449) |
| _ | _ | ||
| NET CURRENT ASSETS/(LIABILITIES) | 143,075 | 117,956 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 743,086 | 740,961 | |
| CREDITORS | |||
| Amounts falling due after | |||
| more than one year | 16 | (72,184) | (87,574) |
| _ | _ | ||
| NET ASSETS | 19 | 670,902 | 653,387 |
| ======= |
======= |
The notes form part of these financial statements
continued...
Page 7
MENTER FACHWEN BALANCE SHEET - CONTINUED AT 31 MARCH 2022
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.
The members have not required the charitable company to obtain an audit of its financial statements for the period ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 period and of its surplus or deficit for each financial period 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.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Trustees on 29 November 2022 and were signed on its behalf by:
............................................. K Bardsley -Trustee
............................................. N Oliver -Trustee
The notes form part of these financial statements
Page 8
MENTER FACHWEN
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022
| 31.03.22 | 31.03.21 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities: | |||
| Cash generated from operations | 1 | 46,172 | 154,783 |
| Interest paid | (3,474) | (3,933) | |
| Net cash provided by (used in) operating activities | 42,698 | 150,850 | |
| Cash flows from investing activities: | |||
| Purchase of fixed assets | - | (12,375) | |
| Net cash provided by (used in) investing activities | - | (12,375) | |
| Cash flows from financing activities: | |||
| Loan repayments in period | (15,390) | (14,931) | |
| Net cash provided by (used in) financing activities | (15,390) | (14,931) | |
| Change in cash and cash equivalents in the reporting | |||
| period | 27,308 | 123,544 | |
| Cash and cash equivalents at the beginning of the | |||
| reporting period | 2 | 208,495 | 84,951 |
| Cash and cash equivalents at the end of the reporting | |||
| period | 2 | 235,083 | 208,495 |
The notes form part of these financial statements
Page 9
MENTER FACHWEN
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| 31.03.22 | 31.03.21 | |
|---|---|---|
| £ | £ | |
| Net income/(expenditure) for the reporting period (as per the statement of | ||
| financial activities) | 32,515 | 76,951 |
| Adjustments for: | ||
| Depreciation charges and loss on disposal | 7,994 | 9,758 |
| Interest paid | 3,474 | 3,933 |
| (Increase)/Decrease in stock | (760) | 1,000 |
| (Increase)/Decrease in debtors | 1,591 | 52,117 |
| Increase/(Decrease) in creditors | 1,358 | 11,024 |
| Net cash provided by (used in) operating activities | 46,172 | 154,783 |
| ANALYSIS OF CASH AND CASH EQUIVALENTS | ||
| 31.03.22 | 31.03.21 | |
| £ | £ | |
| Notice deposits (less than 3 months) | 235,803 | 208,495 |
| Total cash and cash equivalents | 235,803 | 208,495 |
2. ANALYSIS OF CASH AND CASH EQUIVALENTS
Page 10
MENTER FACHWEN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
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 2015)', 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.
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.
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until those conditions are met.
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.
Allocation and apportionment of costs
Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities or estimated usage.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation.
Depreciation is not charged on freehold land. Depreciation is provided at the following annual rates in order to write off each asset over its useful economic life.
Freehold property - 1% on reducing balance Motor vehicles - 25% on reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is recognised in the statement of financial activities.
The property is reviewed for impairment each period by the trustees
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.
Page 11
MENTER FACHWEN NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES – continued
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 restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Going concern
The charitable company's survival is largely dependent on funding from the local authority. The financial statements have been prepared on the assumption that adequate funding will be received in the future and therefore the trustees consider it appropriate to prepare the financial statements on a going concern basis.
2. DONATIONS AND LEGACIES
| Donations OTHER TRADING ACTIVITIES Rent and room hire |
31.03.22 £ 4,509 4,509 31.03.22 £ 7,560 |
31.03.21 £ 966 |
|---|---|---|
| 966 | ||
| 31.03.21 £ 8,085 |
3. OTHER TRADING ACTIVITIES
Page 12
MENTER FACHWEN
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
4. INCOME FROM CHARITABLE ACTIVITIES
| 31.03.22 Activity £ Care income Training 670,797 Beneficiary transport to work Training 3,417 Sundry income Training 39,055 Businesses income Training 52,730 765,999 5. CHARITABLE ACTIVITIES COSTS Direct costs Support costs (See note 6) £ £ Training 697,367 48,186 6. SUPPORT COSTS Other Governance costs £ £ Training 46,829 1,357 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 31.03.22 £ Depreciation - owned assets 7,994 |
31.03.21 £ 696,891 447 58,193 32,865 788,396 Totals £ 745,553 Totals £ 48,186 31.03.21 £ 9,393 |
|---|---|
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the period ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the period ended 31 March 2021.
Page 13
MENTER FACHWEN NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
31.03.22 £ 519,581 38,088 21,767 579,436 |
31.03.21 £ 517,268 37,196 22,113 |
|---|---|---|
| 576,577 |
The average monthly number of full-time equivalent employees during the period was as follows:
| 31.03.22 | 31.03.21 | |
|---|---|---|
| Charitable operations | 21 | 21 |
| Management and central services | 2 | 2 |
| 23 | 23 |
No employees received emoluments in excess of £60,000.
The charity considers its key management personnel comprise the Trustees, Chief Executive Officer, Finance Manager and Supervisors. Total emoluments, including employer pension contributions, of the key management personnel were £177,711 (2021 - £213,506)
The charity operates a defined contribution pension scheme for its employees and the charity made pension contributions for 25 (2020 -24) staff members.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total funds | |
|---|---|---|---|
| funds | funds | ||
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 966 | - | 966 |
| Charitable activities | |||
| Training | 788,396 | - | 788,396 |
| Other trading activities | 8,085 | - | 8,085 |
| Total | 797,447 | - | 797,447 |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Training | 720,496 | - | 720,496 |
| Total | 720,496 | - | 720,496 |
| NET INCOME/(EXPENDITURE) | |||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 576,436 | - | 576,436 |
| TOTAL FUNDS CARRIED FORWARD | 653,387 | - | 653,387 |
Page 14
MENTER FACHWEN
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
11. FIXED ASSETS
| Freehold Motor Property Vehicles £ £ COST At 1 April 2021 623,942 54,825 _ _ At 31 March 2022 623,942 54,825 _ _ DEPRECIATION At 1 April 2021 232,247 38,515 Charge for the period 3,917 4,077 _ _ At 31 March 2022 236,164 42,590 __ _ __ _____ NET BOOK VALUE At 31 March 2022 387,778 12,233 ======= ======= At 31 March 2021 391,695 16,310 ======= ======= 12. INVESTMENT PROPERTY MARKET VALUE At 1 April 2021 Revaluation NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Total £ 678,767 _ 678,767 _ 270,762 7,994 _ 278,756 _ _ 400,011 ======= 408,005 ======= £ 215,000 (15,000) 200,000 215,000 |
|---|---|
The investment property was valued at market value by Dafydd Hardy Estate Agents who are independent of the charity. The trustees consider this to be an appropriate valuation as at 31 March 2022.
Page 15
MENTER FACHWEN
NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
| 13. STOCKS Stocks 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Debtors 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 18) Creditors Credit card Social security and other taxes Accruals and deferred income 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Other loans (see note 18) 17. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Mortgage Amounts falling due in more than five years: Repayable by instalments: Mortgage |
31.03.22 31.03.21 £ £ 5,660 4,900 31.03.22 31.03.21 £ £ 5,419 7,010 5,419 7,010 31.03.22 31.03.21 £ £ 15,000 15,000 4,028 1,887 7,620 2,272 10,602 10,543 72,290 67,014 103,807 102,449 31.03.22 31.03.21 £ £ 72,184 87,574 31.03.22 31.03.21 £ £ 15,000 15,000 15,000 15,000 72,184 87,574 |
|---|---|
Page 16
MENTER FACHWEN NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
18. SECURED DEBTS
The following secured debts are included within creditors:
| Mortgage | 31.03.22 £ 87,184 87,184 |
31.03.21 £ 102,574 |
|---|---|---|
| 102,574 |
The mortgage and bank overdraft are secured by a fixed charge on Caxton House, 52 High Street, Llanberis.
19 . MOVEMENT IN FUNDS
| Net Movement | |||
|---|---|---|---|
| At 01.04.21 | in funds | At 31.03.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 653,387 | 17,515 | 670,902 |
| ====== | ====== | ====== |
Net movement in funds, included in the above are as follows:
| Net Current | Long | |||
|---|---|---|---|---|
| Tangible Fixed | Assets/ | Term | Total | |
| Assets | (Liabilities) | Liabilities | Funds | |
| £ | £ | £ | £ | |
| Unrestricted Funds | 600,011 | 143,075 | (72,184) | 670,902 |
| ====== | ====== | ====== | ====== |
20. RELATED PARTY DISCLOSURES
Due to the nature of the charity’s operations and the composition of the board of trustees it is inevitable that transactions will take place with organisations in which a member may have an interest. All transactions involving organisations in which a trustee may have an interest are conducted at arm’s length.
The Charity has a policy that all trustees must declare an interest if a related party transaction occurs.
Page 17
MENTER FACHWEN
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Rent and room hire Charitable activities Care income Beneficiary transport to work Sundry income Businesses income Welsh Government Care Staff Bonus Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Insurance Specific projects Motor costs Repairs and renewals Travelling expenses Beneficiary costs Training Wages for workers with a disability IT costs Legal & professional fees Businesses costs Carried forward |
31.03.22 £ 4,509 4,509 7,560 670,797 3,417 14,989 52,730 24,066 765,999 778,068 519,581 38,088 21,767 16,315 3,416 19,838 18,065 1,130 11,896 846 3,584 4,929 5,398 27,378 692,231 |
31.03.21 £ 966 966 8,085 696,891 447 58,193 32,865 - 788,396 797,447 517,268 37,196 22,113 15,101 8,237 16,835 10,997 179 13,659 418 1,896 5,859 5,508 14,217 669,483 |
|---|---|---|
This page does not form part of the statutory financial statements
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MENTER FACHWEN
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Charitable activities Brought forward Mortgage interest Bank charges Support costs Other Water rates Telephone Printing & stationery Sundry expenses Heat, light & power Depn - Freehold property Depn - motor vehicles Loss on disposal – motor vehicles Governance costs Accountancy Total resources expended Net income |
31.03.22 £ 692,231 3,474 1,662 697,367 1,829 13,395 3,830 1,503 18,278 3,917 4,077 - 46,829 1,357 745,553 32,515 |
31.03.21 £ 669,483 3,933 1,182 674,598 1,414 12,544 2,548 1,644 16,610 3,957 5,436 365 44,518 1,380 720,496 76,951 |
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This page does not form part of the statutory financial statements
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