REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2023 |
for |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2023 |
for |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 18 |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Reference and Administrative Details |
for the Year Ended 31 March 2023 |
TRUSTEES |
COMPANY SECRETARY | Mrs C Stevens |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Morgan Griffiths LLP |
Chartered Accountants |
Cross Chambers |
9 High Street |
Newtown |
Powys |
SY16 2NY |
BANKERS |
1 Broad Street |
Newtown |
Powys |
SY16 2LX |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn (Registered number: 00486755) |
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 year 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 2019). |
OBJECTIVES AND ACTIVITIES |
The charity's object and principal activity continues to be that of promoting the general good of the community, principally in the Shire of Montgomeryshire, improving the conditions of life of the inhabitants by assisting, facilitating and supporting the work of other charities, voluntary organisations, community groups and statutory agencies engaged in advancing education, arts and music, developing physical improvement, furthering health and welfare, or in pursuing any other object which may be deemed by law to be charitable, and promoting and organising co-operation and the sharing of facilities, especially by bringing together the authorities and organisations in the furtherance of the above purposes. |
Public Benefit |
The Board of Trustees has referred to the information contained in the Charity Commission's general guidance on public benefit both in relation to the objects of MCRA and in planning and executing its activities to support these objectives. The core aim of the charity is directed at assisting and enabling other charities, voluntary and community groups together with statutory bodies to enhance their efficiency and services to the public. MCRA achieves this by the provision of office accommodation and meeting rooms with disabled access, the latter equipped to the high standard now expected of such facilities, at subsidised rates to voluntary and community groups. A range of office sizes is provided so that MCRA can serve a wide range of organisations. The meeting rooms together with lectures, on a theme of relevance to the local and wider community, particularly support the second aim of MCRA which is to promote co-operation and networking between community groups and between such groups and statutory organisations. |
MCRA continued to provide accommodation for an Art Gallery in 2022/2023. |
The Oriel Davies Gallery, currently leased to an Arts Council funded charitable visual arts organisation, which makes a significant contribution to promoting the arts in Montgomeryshire. |
ACHIEVEMENT AND PERFORMANCE |
Plas Dolerw |
MCRA achieves income from office lettings and the lease of the Oriel Davies Gallery. |
However, room hire as not been booked to full capacity as users are still hesitant attending public events/meetings and MCRA have found it difficult to achieve the income projected for casual room hire at Plas Dolerw as a result of the pandemic. |
Oriel Davies Gallery |
The Oriel Davies Gallery, which is owned by MCRA but leased to a separate charity is very popular and normally attracts visitors far and wide. |
FINANCIAL REVIEW |
Investment policy and objectives |
The Charity maintains its investments with CCLA Investment Management Ltd. MCRA investments are held in the COIF Property Fund and the COIF Investment Fund. The investment return is closely monitored by the Treasurer and the Finance and Audit Sub-Committee. |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn (Registered number: 00486755) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
FINANCIAL REVIEW |
Reserves policy |
Reserves/Sinking Fund |
MCRA was very appreciative to receive a revenue grant of £2,000 from the Gwendoline and Margaret Davies Charity during this financial year, continuing the long association between the two charities. Apart from this grant, MCRA was in receipt of income from its holdings in COIF, income from room hire and office rental and the lease of Oriel Davies Art Gallery. |
The 'sinking fund' was not utilised during the year as there were no unexpected costs on the upkeep of the two buildings |
Unrestricted free reserves held of £172,282 were in accordance with the Reserves Policy, being in excess of 9 months running costs of the Association. |
The charity's funds have all been applied in accordance with its objectives. The charity's assets are all being maintained in the furtherance of these objectives. The Statement of Financial Activities shows a net deficit for the year of £85,361 (2022 net deficit £85,327) after charging depreciation of £67,403 (2022 £67,403) and loss on investments of £8,445 (2022 gain £13,819). The charity generated a deficit on its normal activities excluding these charges of £9,513 (2021 £7,406) and reserves stand at £899,130. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association. |
Recruitment and appointment of new trustees |
All Directors of the Company are also Trustees of the Charity, and there are no other Trustees. All of the Trustees named on page 1 served throughout the year, unless appointed, resigned or passed away as shown. The Board has the power to co-opt additional Trustees as it considers fit to do so. Members are chosen for their expertise in various fields, but the Board also strives to achieve a gender, age and Welsh language balance. |
Organisational structure |
The Council of MCRA is also the Board of Directors of the Company, and has responsibility for the management of the Association. The Council of MCRA meets 3 times a year. Attendance at meetings is |
good, with all meetings held at Plas Dolerw. There are a number of sub-committees that have particular roles and responsibilities, and these report back to the main Council at the quarterly meetings, recommending any action required. The current sub-committees are as follows: |
a) Finance and Audit Sub-Committee |
b) Oriel Davies Gallery Sub-Committee |
c) Development Sub-Committee |
d) Strategy Sub-Committee |
Induction and training of new trustees |
New Trustees are provided with copies of the most recent Annual Report and the audited accounts as well as a short history of the Association, They are invited to Plas Dolerw to discuss the activities of the Association with the Company Secretary, and to ask any questions they might have about current and future plans. |
Related parties |
All Trustees of MCRA serve as full members of the Board of Directors and have responsibility for the running of the Association. Trustees are required to complete a Trustees Declaration of Interests statement when they join the Association and declare any potential conflicts of interest at the beginning of each Council meeting. |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn (Registered number: 00486755) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
The major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. The Company Secretary is responsible for the day-to-day management of the charity and for the management of Plas Dolerw. Officers' meetings are held regularly, to discuss any issues that need resolution in between Council meetings. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Independent examiner's report to the trustees of Montgomeryshire Community Regeneration Association Cymdeithas Adfywio Cymunedol Maldwyn ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. |
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 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 Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | 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 |
4. | 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. |
Thomas Landers BA FCA |
Morgan Griffiths LLP |
Chartered Accountants |
Cross Chambers |
9 High Street |
Newtown |
SY16 2NY |
18 December 2023 |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Other income |
Total |
EXPENDITURE ON |
Raising funds | 6 |
Charitable activities | 7 |
Other | 9 |
Total |
Net gains/(losses) on investments | ( |
) | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 984,491 |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn (Registered number: 00486755) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 14 |
Investments | 15 |
CURRENT ASSETS |
Debtors | 16 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 17 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 19 |
Unrestricted funds | 240,851 |
Restricted funds | 743,640 |
TOTAL FUNDS | 984,491 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year 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 year and of its surplus or deficit for each financial year 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. |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn (Registered number: 00486755) |
Balance Sheet - continued |
31 March 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
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 2019)', 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
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. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
Long leasehold | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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 particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular 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. |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | DONATIONS AND LEGACIES |
31.3.23 | 31.3.22 |
£ | £ |
Donations |
Grants |
Grants received, included in the above, are as follows: |
31.3.23 | 31.3.22 |
£ | £ |
G&M Davies Charity | 2,000 | 5,000 |
PCC - Business restrictions | 2,000 | - |
4,000 | 5,000 |
3. | OTHER TRADING ACTIVITIES |
31.3.23 | 31.3.22 |
£ | £ |
Shop income |
4. | INVESTMENT INCOME |
31.3.23 | 31.3.22 |
£ | £ |
Deposit account interest |
Investment Income | 2,135 | 2,093 |
5. | INCOME FROM CHARITABLE ACTIVITIES |
31.3.23 | 31.3.22 |
Activity | £ | £ |
Oriel Davies Gallery Lease | Oriel Davies Gallery | 13,286 | 13,286 |
Lettings | Plas Dolerw | 33,178 | 17,828 |
Rental Income | Plas Dolerw | 12,777 | 18,963 |
CJRS Grants | Plas Dolerw | - | 3,659 |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | RAISING FUNDS |
Other trading activities |
31.3.23 | 31.3.22 |
£ | £ |
Goods for resale | - | 1,419 |
7. | CHARITABLE ACTIVITIES COSTS |
Direct |
Costs (see | Support |
note 8) | costs | Totals |
£ | £ | £ |
Oriel Davies Gallery | 62,869 | 336 | 63,205 |
Plas Dolerw | 78,721 | 1,164 | 79,885 |
141,590 | 1,500 | 143,090 |
8. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
31.3.23 | 31.3.22 |
£ | £ |
Staff costs | 37,323 | 37,657 |
Insurance | 4,041 | 4,655 |
Postage and stationery | 581 | 878 |
Advertising | 559 | 362 |
Sundries | 478 | 311 |
Room Hire Services | 2,711 | 1,711 |
Premises Running Costs & Repairs | 17,756 | 13,009 |
Grass Cutting & Maintenance | 10,282 | 2,755 |
Security & Fire Equip Maint | 456 | 312 |
Museum running costs | - | 5,622 |
Museum repairs and renewals | - | 608 |
Bank charges | - | 6 |
Depreciation | 67,403 | 67,403 |
141,590 | 135,289 |
9. | OTHER |
31.3.23 | 31.3.22 |
£ | £ |
Exceptional items | - | 24,337 |
This amount represents the transfer of the Textile Museum reserves generated up to 31st December 2021. At this point the assets and ongoing activities of the Textile Museum were transferred to the Newtown Textile Museum (CIO with registered Charity number 1188651). |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
10. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.23 | 31.3.22 |
£ | £ |
Independent Examination Fee | 1,500 | 1,300 |
Depreciation - owned assets |
11. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
No expenses were reimbursed to trustees in the year to 31 March 2023. General expenses amounting to £77 were reimbursed to two trustees in the year to 31 March 2022. |
12. | STAFF COSTS |
31.3.23 | 31.3.22 |
£ | £ |
Wages and salaries |
Other pension costs |
37,323 | 37,657 |
The average monthly number of employees during the year was as follows: |
31.3.23 | 31.3.22 |
Direct charitable work | 2 | 3 |
Administration | 1 | 1 |
The charity considers its key management personnel comprises the Company Secretary . The total employment benefits including employer pension contributions of the key management personnel for the year ended 31 March 2023 were £25,038 (2022: £24,184). |
The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the year was nil (2022 nil). |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
13. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
14,118 | - |
Other |
Total |
Net gains on investments |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 259,757 | 810,061 |
TOTAL FUNDS CARRIED FORWARD | 240,851 | 743,640 | 984,491 |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
14. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | Long | to |
property | leasehold | property |
£ | £ | £ |
COST |
At 1 April 2022 and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
15. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
MARKET VALUE |
At 1 April 2022 |
Revaluations | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 | 113,962 |
At 31 March 2022 | 122,407 |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
15. | FIXED ASSET INVESTMENTS - continued |
There were no investment assets outside the UK. |
The historic cost of listed investments on 31st March 2023 was £57,831 (2022 £57,831). Investments comprise, £73,424 (2022 £76,312) in a COIF Charities Investment Fund, and £40,538 (2022 £46,095) in a COIF Charities Property Fund. |
16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accrued expenses |
18. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 27,030 | 677,653 | 704,683 | 772,086 |
Investments |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
221,374 | 677,756 | 899,130 | 984,491 |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
19. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General Fund - Revenue | 190,240 | (17,958 | ) | 172,282 |
Building Repairs | 22,063 | - | 22,063 |
Oriel Davies Gallery improvements | 6,373 | (910 | ) | 5,463 |
Plas Dolerw improvements | 19,060 | (512 | ) | 18,548 |
Plas Dolerw capital | 3,115 | (97 | ) | 3,018 |
(19,477 | ) |
Restricted funds |
Oriel Davies Gallery - Improvements | 404,174 | (57,589 | ) | 346,585 |
Plas Dolerw - Improvements | 176,565 | (5,395 | ) | 171,170 |
Plas Dolerw - Property | 142,800 | (2,900 | ) | 139,900 |
Oriel Davies Gallery - Property | 20,000 | - | 20,000 |
Awards for All | 101 | - | 101 |
(65,884 | ) |
TOTAL FUNDS | (85,361 | ) | 899,130 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General Fund - Revenue | 66,174 | (75,687 | ) | (8,445 | ) | (17,958 | ) |
Oriel Davies Gallery improvements | - | (910 | ) | - | (910 | ) |
Plas Dolerw improvements | - | (512 | ) | - | (512 | ) |
Plas Dolerw capital | - | (97 | ) | - | (97 | ) |
( |
) | ( |
) | (19,477 | ) |
Restricted funds |
Oriel Davies Gallery - Improvements | - | (57,589 | ) | - | (57,589 | ) |
Plas Dolerw - Improvements | - | (5,395 | ) | - | (5,395 | ) |
Plas Dolerw - Property | - | (2,900 | ) | - | (2,900 | ) |
( |
) | (65,884 | ) |
TOTAL FUNDS | ( |
) | ( |
) | (85,361 | ) |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
19. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General Fund - Revenue | 174,719 | 15,521 | 190,240 |
Building Repairs | 22,063 | - | 22,063 |
Oriel Davies Gallery improvements | 7,283 | (910 | ) | 6,373 |
Plas Dolerw improvements | 19,573 | (513 | ) | 19,060 |
Plas Dolerw capital | 3,212 | (97 | ) | 3,115 |
Textile Museum - Revenue | 32,907 | (32,907 | ) | - |
259,757 | (18,906 | ) | 240,851 |
Restricted funds |
Oriel Davies Gallery - Improvements | 461,763 | (57,589 | ) | 404,174 |
Plas Dolerw - Improvements | 181,959 | (5,394 | ) | 176,565 |
Plas Dolerw - Property | 145,700 | (2,900 | ) | 142,800 |
Oriel Davies Gallery - Property | 20,000 | - | 20,000 |
Awards for All | 101 | - | 101 |
Textile Museum | 538 | (538 | ) | - |
810,061 | (66,421 | ) | 743,640 |
TOTAL FUNDS | 1,069,818 | (85,327 | ) | 984,491 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General Fund - Revenue | 65,848 | (64,146 | ) | 13,819 | 15,521 |
Oriel Davies Gallery improvements | - | (910 | ) | - | (910 | ) |
Plas Dolerw improvements | - | (513 | ) | - | (513 | ) |
Plas Dolerw capital | - | (97 | ) | - | (97 | ) |
Textile Museum - Revenue | 4,929 | (37,836 | ) | - | (32,907 | ) |
70,777 | (103,502 | ) | 13,819 | (18,906 | ) |
Restricted funds |
Oriel Davies Gallery - Improvements | - | (57,589 | ) | - | (57,589 | ) |
Plas Dolerw - Improvements | - | (5,394 | ) | - | (5,394 | ) |
Plas Dolerw - Property | - | (2,900 | ) | - | (2,900 | ) |
Textile Museum | - | (538 | ) | - | (538 | ) |
- | (66,421 | ) | - | (66,421 | ) |
TOTAL FUNDS | 70,777 | (169,923 | ) | 13,819 | (85,327 | ) |
Montgomeryshire Community Regeneration |
Association Cymdeithas Adfywio Cymunedol |
Maldwyn |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
19. | MOVEMENT IN FUNDS - continued |
Plas Dolerw provides a base for the charity as well as office accommodation for local charities and conference/meeting hire facilities. Oriel Davies Gallery provides the public with an opportunity to access high quality exhibitions as well as opportunities for arts education, classes in poetry, etc. |
20. | RELATED PARTY DISCLOSURES |
Dr Janet Lewis is a trustee of the Gwendoline and Margaret Davies Charity who have provided grant support to the charity in the year as disclosed in note 2. |
21. | SECURED ASSET |
The trustees of the charity have been required to provide security charges over freehold property in respect of grants provided for the improvement of the property. Disclosure of these requirements has been made by the trustees to the charity commission who have indicated their agreement to this charge. |