0 0 false false false false false false true false false false true true true true No description of principal activity 2022-04-06 Sage Accounts Production Advanced 2021 - FRS102_2021_Charity 169,000 xbrli:pure xbrli:shares iso4217:GBP 03174932 2022-04-06 2023-04-05 03174932 2023-04-05 03174932 2022-04-05 03174932 2021-04-06 2022-04-05 03174932 2022-04-05 03174932 2021-04-05 03174932 core:FurnitureFittings 2022-04-06 2023-04-05 03174932 bus:LeadAgentIfApplicable 2022-04-06 2023-04-05 03174932 char:Trustee1 2022-04-06 2023-04-05 03174932 char:Trustee2 2022-04-06 2023-04-05 03174932 char:Trustee3 2022-04-06 2023-04-05 03174932 char:Trustee4 2022-04-06 2023-04-05 03174932 char:TotalUnrestrictedFunds 2022-04-05 03174932 char:TotalUnrestrictedFunds 2023-04-05 03174932 char:TotalUnrestrictedFunds 2022-04-05 03174932 char:TotalUnrestrictedFunds 2022-04-06 2023-04-05 03174932 char:TotalUnrestrictedFunds 2021-04-06 2022-04-05 03174932 core:FurnitureFittings 2023-04-05 03174932 core:WithinOneYear 2023-04-05 03174932 core:WithinOneYear 2022-04-05 03174932 core:Pensions 2023-04-05 03174932 core:Pensions 2022-04-05 03174932 core:EmployeeBenefits 2023-04-05 03174932 bus:FRS102 2022-04-06 2023-04-05 03174932 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 03174932 bus:FullAccounts 2022-04-06 2023-04-05 03174932 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-04-05 03174932 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 03174932 core:ComputerEquipment 2022-04-06 2023-04-05 03174932 core:OfficeEquipment 2022-04-06 2023-04-05 03174932 core:ComputerEquipment 2023-04-05
COMPANY REGISTRATION NUMBER: 03174932
CHARITY REGISTRATION NUMBER: 1059131
Bwrlwm Cyf
Company Limited by Guarantee
Unaudited Financial Statements
For the year ended
5 April 2023
Bwrlwm Cyf
Company Limited by Guarantee
Financial Statements
Year ended 5 April 2023
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
5
Statement of financial position
6
Notes to the financial statements
7
Bwrlwm Cyf
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 5 April 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 5 April 2023 .
Reference and administrative details
Registered charity name
Bwrlwm Cyf
Charity registration number
1059131
Company registration number
03174932
Principal office and registered
Bryn Coch
office
Llanfachreth
Dolgellau
Gwynedd
LL40 2DP
The trustees
Mr B Ridler
Mr P Young
Ms P Williams
Ms E Thomas
Independent examiner
Laud Meredith & Co
92 - 94 High Street
Porthmadog
Gwynedd
LL49 9NW
Structure, governance and management
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.
Objectives and activities
The charity's objectives remain as before, namely the provision of a service to the public 'in the appreciation, enjoyment and understanding of the arts', and the promotion of 'activities related to the arts whether on any premises of the Charity or elsewhere'.
Achievements and performance
There were no presentations or performances organised by the charity in the 2021-22 financial year. The constraints of Covid-related lockdown were in force for the bulk of the charity's financial year, and this had an unavoidable impact on the prospect of any activities.
Financial review
The charity retains a surplus at the bank. The board has yet to decide how it wishes the charity to continue to operate, but it remains committed to finding appropriate ways to support the regeneration of the arts in the South Gwynedd area, in conformity with its objectives. A trickle of donations to the charity continues, but there have been no outgoings, other than any bank-related and accountancy charges.
Plans for future periods
The board of the charity met online to continue discussions about possible ways forward for the organisation. During the financial year two distinct avenues were mooted: one was the creation of a kind of young persons' entrepreneur scheme, inviting local younger people to apply for support for artistic projects that they might wish to carry out; and the other a scheme to encourage young filmmakers. It was agreed that both possibilities needed further reflection by the board.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 30 November 2023 and signed on behalf of the board of trustees by:
Mr P Young
Trustee
Bwrlwm Cyf
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Bwrlwm Cyf
Year ended 5 April 2023
I report to the trustees on my examination of the financial statements of Bwrlwm Cyf ('the charity') for the year ended 5 April 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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 statement
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:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements 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
4. the financial statements 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.
Independent Examiner
92 - 94 High Street Porthmadog Gwynedd LL49 9NW
30 November 2023
Bwrlwm Cyf
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 5 April 2023
2023
2022
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Charitable activities
5
70
70
60
Investment income
6
1
1
----
----
----
Total income
71
71
60
----
----
----
Expenditure
Expenditure on charitable activities
7,8
337
337
4,360
----
----
-------
Total expenditure
337
337
4,360
----
----
-------
----
----
-------
Net expenditure and net movement in funds
266
266
4,300
----
----
-------
Reconciliation of funds
Total funds brought forward
( 156,437)
( 156,437)
( 152,137)
---------
---------
---------
Total funds carried forward
( 156,703)
( 156,703)
( 156,437)
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Bwrlwm Cyf
Company Limited by Guarantee
Statement of Financial Position
5 April 2023
2023
2022
Note
£
£
£
Current assets
Cash at bank and in hand
12,562
12,816
Creditors: amounts falling due within one year
14
265
253
--------
--------
Net current assets
12,297
12,563
--------
--------
Total assets less current liabilities
12,297
12,563
Provisions
Pensions and similar obligations
15
169,000
169,000
---------
---------
Net liabilities
( 156,703)
( 156,437)
---------
---------
Funds of the charity
Unrestricted funds
( 156,703)
( 156,437)
---------
---------
Total charity funds
16
( 156,703)
( 156,437)
---------
---------
For the year ending 5 April 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 30 November 2023 , and are signed on behalf of the board by:
Mr P Young
Trustee
Bwrlwm Cyf
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 5 April 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Bryn Coch, Llanfachreth, Dolgellau, Gwynedd, LL40 2DP.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company had net liabilities of £156,437 (2021 £152,137),which includes a pension deficit of £169,000 (2020 £169,000). The directors of the company have considered the foreseeable future and believe that the company will be able to continue to trade for the period of more than one year from the date of the approval of the accounts.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the statement of financial activities in the period it arises, and is allocated to the appropriate expenditure heading.
4. Limited by guarantee
The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
5. Charitable activities
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Sundry receipts and donations
70
70
60
60
----
----
----
----
6. Investment income
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Bank interest receivable
1
1
----
----
----
----
7. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Activity type 4
60
60
72
72
Activity type 7
13
13
13
13
Support costs
264
264
4,275
4,275
----
----
-------
-------
337
337
4,360
4,360
----
----
-------
-------
8. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2023
Total fund 2022
£
£
£
£
Activity type 4
60
60
72
Activity type 7
13
13
13
Governance costs
264
264
4,275
----
----
----
-------
73
264
337
4,360
----
----
----
-------
9. Taxation
The charity is a registered charity and is therefore exempt from taxation.
10. Independent examination fees
2023
2022
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
264
252
----
----
11. Staff costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees
13. Tangible fixed assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 6 April 2022 and 5 April 2023
3,034
78,863
81,897
-------
--------
--------
Depreciation
At 6 April 2022 and 5 April 2023
3,034
78,863
81,897
-------
--------
--------
Carrying amount
At 5 April 2023
-------
--------
--------
At 5 April 2022
-------
--------
--------
14. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
265
253
----
----
15. Provisions
Pensions and similar obligations
£
At 6 April 2022 and 5 April 2023
169,000
---------
16. Analysis of charitable funds
Unrestricted funds
At 6 April 2022
Income
Expenditure
At 5 April 2023
£
£
£
£
General funds
(156,437)
71
(337)
(156,703)
---------
----
----
---------
At 6 April 2021
Income
Expenditure
At 5 April 2022
£
£
£
£
General funds
(152,137)
60
(4,360)
(156,437)
---------
----
-------
---------