**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 2023 FOR MENTER FACHWEN**
**MENTER FACHWEN**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
||**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 2023**
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 2023. 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.
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:
1. 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.
2. 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 2023**
## **FINANCIAL REVIEW**
## **Financial position**
The unrestricted funds have risen to £714,094 from £670,902 in 2022.
## **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:
1. To ensure cash flow (e.g. cover delays in revenue funding)
2. To cover unforeseen circumstances.
3. To provide the opportunity to attract/identify alternative funding should existing funds be subject to cutbacks.
4. 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 £140,000. 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. 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 2023**
## **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**
B Jones – Chair & Health & Safety Ms N Oliver- Vice Chair & Finance Ms K Bardsley - Parent Representative Ms M Edwards - Personnel Ms G Wheldon - Parent Representative D A Pritchard - Company Secretary A Sharratt – Senedd Member
Page 3
**MENTER FACHWEN**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **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 28 November 2023 and signed on its behalf by:
............................................. B Jones - 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 2023, 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:
- accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
- the accounts do not accord with those accounting records; or
- 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
- 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 2023**
|||**31.03.23**|31.03.22|
|---|---|---|---|
|||**Total funds**|Total funds|
||**Notes**|**£**|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies|2|23,264|4,509|
|**Charitable activities**||||
|Training|4|781,935|765,999|
|Other trading activities|3|8,910|7,560|
|||**______**|______|
|**Total**||814,109|778,068|
|**EXPENDITURE ON**||||
|Charitable activities|5|||
|Training||770,917|745,553|
|||______|______|
|**NET INCOME/(EXPENDITURE) BEFORE INVESTMENTS GAINS/(LOSSES)**||**43,192**|32,515|
|NET GAINS/(LOSSES) ON INVESTMENTS||-|(15,000)|
|**NET MOVEMENT IN FUNDS**||**43,192**|17,515|
|**RECONCILIATION OF FUNDS**||||
|Total funds brought forward||670,902|653,387|
|**TOTAL FUNDS CARRIED FORWARD**||**714,094**|670,902|
|||**======**|**======**|
## **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 2023**
|||**31.03.23**|31.03.22|
|---|---|---|---|
|||**Total funds**|Total funds|
||**Notes**|**£**|**£**|
|**FIXED ASSETS**||||
|Tangible assets|11|415,387|400,011|
|Investment property|12|200,000|200,000|
|||_______|_______|
|||615,387|600,011|
|**CURRENT ASSETS**||||
|Stocks|13|6,170|5,660|
|Debtors|14|13,544|5,419|
|Cash at bank||229,171|235,803|
|||**_______**|_______|
|||248,885|246,882|
|**CREDITORS**||||
|Amounts falling due within one year|15|(92,973)|(103,807)|
|||**_______**|_______|
|**NET CURRENT ASSETS/(LIABILITIES)**||155,912|143,075|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||771,299|743,086|
|**CREDITORS**||||
|Amounts falling due after||||
|more than one year|16|(57,205)|(72,184)|
|||_______|_______|
|**NET ASSETS**|19|714,094|670,902|
|||**=======**
|**=======**|
The notes form part of these financial statements
continued...
Page 7
**MENTER FACHWEN**
**BALANCE SHEET - CONTINUED AT 31 MARCH 2023**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.
The members have not required the charitable company to obtain an audit of its financial statements for the period ended 31 March 2023 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 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 28 November 2023 and were signed on its behalf by:
............................................. B Jones -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 2023**
|||**31.03.23**|31.03.22|
|---|---|---|---|
||Notes|**£**|£|
|**Cash flows from operating activities:**||||
|Cash generated from operations|1|42,653|46,172|
|Interest paid||(4,556)|(3,474)|
|**Net cash provided by (used in) operating activities**||38,097|42,698|
|**Cash flows from investing activities:**||||
|Purchase of fixed assets||(29,750)|-|
|**Net cash provided by (used in) investing activities**||(29,750)|-|
|**Cash flows from financing activities:**||||
|Loan repayments in period||(14,979)|(15,390)|
|**Net cash provided by (used in) financing activities**||(14,979)|(15,390)|
|**Change in cash and cash equivalents in the reporting**||||
|**period**||(6,632)|27,308|
|**Cash and cash equivalents at the beginning of the**||||
|**reporting period**|2|235,803|208,495|
|**Cash and cash equivalents at the end of the reporting**||||
|**period**|2|229,171|235,803|
The notes form part of these financial statements
Page 9
**MENTER FACHWEN**
**NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
## **2.**
||**31.03.23**|31.03.2
2|
|---|---|---|
||**£**|£|
|**Net income/(expenditure) for the reporting period (as per the statement of**|||
|**financial activities)**|**43,192**|32,515|
|**Adjustments for:**|||
|Depreciation charges and loss on disposal|**14,374**|7,994|
|Interest paid|**4,556**|3,474|
|(Increase)/Decrease in stock|**(510)**|(760)|
|(Increase)/Decrease in debtors|**(8,125)**|1,591|
|Increase/(Decrease) in creditors|**(10,834) **|1,358|
|**Net cash provided by (used in) operating activities**|**42,653**|46,172|
|**ANALYSIS OF CASH AND CASH EQUIVALENTS**|||
||**31.03.23**|31.03.22|
||**£**|£|
|Notice deposits (less than 3 months)|**229,171**|235,803|
|**Total cash and cash equivalents**|**229,171**|235,803|
Page 10
**MENTER FACHWEN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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 2023**
## **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.
## **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
**3.**
**OTHER TRADING ACTIVITIES**
Rent and room hire|**31.03.23**
**£**
**23,264 **
**23,264**
**31.03.23**
**£**
**8,910**|31.03.22
£
4,509|
|---|---|---|
|||4,509|
|||31.03.22
£
7,560|
Page 12
**MENTER FACHWEN**
**NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **4. INCOME FROM CHARITABLE ACTIVITIES**
|**Activity**
Care income
Training
Beneficiary transport to work
Training
Sundry income
Training
Businesses income
Training|**31.03.23**
**£**
**721,614**
**4,891**
**8,250**
**47,180**
**781,935**|31.03.22
£
670,797
3,417
39,055
52,730|
|---|---|---|
|||765,999|
## **5. CHARITABLE ACTIVITIES COSTS**
|**Direct costs**
**Support costs**
**(See note 6)**
**£**
**£**
Training
**718,960**
**51,957**
**6.**
**SUPPORT COSTS**
**Other**
**Governance**
**costs**
**£**
**£**
Training
**50,577**
**1,380**
**7.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**31.03.23**
**£**
Depreciation - owned assets
**14,374**||
|---|---|
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the period ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the period ended 31 March 2022.
Page 13
**MENTER FACHWEN NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **9. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|**31.03.23**
**£**
**523,954**
**41,790**
**22,037**
**587,781 **|31.03.22
£
519,581
38,088
21,767|
|---|---|---|
|||579,436|
The average monthly number of full-time equivalent employees during the period was as follows:
||**31.03.23**|31.03.22|
|---|---|---|
|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 £186,683 (2022 - £177,711)
The charity operates a defined contribution pension scheme for its employees and the charity made pension contributions for 24 (2022 -25) staff members.
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||**Unrestricted**|**Restricted**|Total funds|
|---|---|---|---|
||**funds**|**funds**||
||**£**|**£**|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies|**4,509**|**-**|4,509|
|**Charitable activities**||||
|Training|**765,999**|**-**|765,999|
|Other trading activities|**7,560**|**-**|7,560|
|**Total**|**778,068**|**-**|778,068|
|**EXPENDITURE ON**||||
|**Charitable activities**||||
|Training|**745,553**|**-**|745,553|
|**Total**|**745,553**|**-**|745,553|
|**NET INCOME/(EXPENDITURE)**||||
|**RECONCILIATION OF FUNDS**||||
|**Total funds brought forward**|**653,387**|**-**|653,387|
|**TOTAL FUNDS CARRIED FORWARD**|**670,902**|**-**|670,902|
Page 14
**MENTER FACHWEN**
**NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **11. FIXED ASSETS**
|**Freehold**
**Motor**
**Property**
**Vehicles**
**£**
**£**
**£**
**COST**
At 1 April 2022
**623,942**
**54,825**
Additions
-
**29,750**
_______
_______
**At 31 March 2023**
**623,942**
**84,575**
_______
_______
**DEPRECIATION**
At 1 April 2022
**236,164**
**42,592**
**Charge for the period**
**3,878**
**10,496**
_______
_______
**At 31 March 2023**
**240,042**
**53,088**
_______
_______
**NET BOOK VALUE**
**At 31 March 2023**
**383,900**
**31,487**
**======**
**======**
**At 31 March 2022**
**387,778**
**12,233**
**======**
**======**
**12.**
**INVESTMENT PROPERTY**
**MARKET VALUE**
At 1 April 2022
Revaluation
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022|**Total**
**678,767**
**29,750**
_______
**708,517**
_______
**278,756**
**14,374**
_______
**293,130**
_______
**415,387**
**======**
**400,011**
**======**
**£**
**200,000**
**-**|
|---|---|
||**200,000**|
||200,000|
The investment property was sold in June 2023 for £200,000 and therefore the trustees consider this to be an appropriate valuation as at 31 March 2023.
Page 15
**MENTER FACHWEN**
**NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
|**13.**
**STOCKS**
Stocks
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Debtors
Prepayments
**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|**31.03.23**
31.03.22
**£**
£
**6,170**
5,660
**31.03.23**
31.03.22
**£**
£
**12,983**
**561 **
5,419
-
**13,544**
5,419
**31.03.23**
31.03.22
**£**
£
**15,000**
15,000
**4,254**
**286**
4,028
1,887
**10,884**
10,602
**62,549**
72,290
**92,973**
103,807
**31.03.23**
31.03.22
**£**
£
**57,205**
72,184
**31.03.23**
31.03.22
**£**
£
**15,000**
15,000
**15,000**
15,000
**57,205**
72,184|**31.03.23**
31.03.22
**£**
£
**6,170**
5,660
**31.03.23**
31.03.22
**£**
£
**12,983**
**561 **
5,419
-
**13,544**
5,419
**31.03.23**
31.03.22
**£**
£
**15,000**
15,000
**4,254**
**286**
4,028
1,887
**10,884**
10,602
**62,549**
72,290
**92,973**
103,807
**31.03.23**
31.03.22
**£**
£
**57,205**
72,184
**31.03.23**
31.03.22
**£**
£
**15,000**
15,000
**15,000**
15,000
**57,205**
72,184|**31.03.23**
31.03.22
**£**
£
**6,170**
5,660
**31.03.23**
31.03.22
**£**
£
**12,983**
**561 **
5,419
-
**13,544**
5,419
**31.03.23**
31.03.22
**£**
£
**15,000**
15,000
**4,254**
**286**
4,028
1,887
**10,884**
10,602
**62,549**
72,290
**92,973**
103,807
**31.03.23**
31.03.22
**£**
£
**57,205**
72,184
**31.03.23**
31.03.22
**£**
£
**15,000**
15,000
**15,000**
15,000
**57,205**
72,184|
|---|---|---|---|
|||103,807||
|||31.03.22
£
72,184||
|||31.03.22
£
15,000
15,000
72,184||
||||15,000|
||||72,184|
Page 16
**MENTER FACHWEN NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **18. SECURED DEBTS**
The following secured debts are included within creditors:
|Mortgage|**31.03.23**
**£**
**72,205**
**72,205**|31.03.22
£
87,184|
|---|---|---|
|||87,184|
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 01.04.22**|**in funds**|**At 31.03.23**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General fund|**670,902**|**43,192**|**714,094**|
||======|======|======|
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**|**615,387**|**155,912**|**(57,205)**|**714,094**|
||**======**|**======**|**======**|**======**|
During the year the charitable company received a donation of £19,750 towards the purchase of a minibus for the purposes of the charity. The minibus was purchased for £29,750 and as the restriction has been met the funds have been recognised within unrestricted reserves at the year end.
## **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 2023**
|**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
Agencies
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|**31.03.23**
**£**
**23,264**
**23,264**
**8,910**
**721,614**
**4,891**
**8,250**
**47,180**
**-**
**781,935**
**814,109**
**523,954**
**41,790**
**22,037**
**12,181**
**18,070**
**4,011**
**23,292**
**15,252**
**1,289**
**13,219**
**612**
**3,196**
**4,928**
**5,787**
**23,181**
**712,799**|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|
|---|---|---|
This page does not form part of the statutory financial statements
Page 18
**MENTER FACHWEN**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|**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
**Governance costs**
Accountancy
**Total resources expended**
**Net income**|**31.03.23**
**£**
**712,799**
**4,556**
**1,605**
**718,960**
**1,936**
**12,206**
**1,769**
**2,631**
**17,661**
**3,878**
**10,496**
**50,577**
**1,380**
**770,917**
**43,192 **|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|
This page does not form part of the statutory financial statements
Page 19