Bardsey Island Trust Limited(The) - Charities report - 22.1
Bardsey Island Trust Limited(The) - Charities report - 22.1
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 December 2021 |
for |
| Bardsey Island Trust Limited(The) |
Bardsey Island Trust Limited(The) |
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
Page |
Report of the Trustees | 1 | to | 8 |
Statement of Financial Activities | 9 |
Balance Sheet | 10 | to | 11 |
Notes to the Financial Statements | 12 | to | 19 |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
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 December 2021. 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 |
Objectives and aims |
| The charity's vision is to be an exemplar of Welsh Island life, that supports a vibrant island community, economy and healthy ecology. |
| The Bardsey Trust's objectives to deliver this vision are as follows: |
| 1. To support a community of residents engaged in rural enterprises. |
| 2. To protect and enhance a range of characteristic habitats that support diverse and typical wildlife, which are maintained in favourable condition through appropriate management. |
| 3. To honour, celebrate, explore and share the Welsh language, natural and living heritage, culture and spirituality of the island. |
| 4. To ensure that the built landscape and infrastructure are sensitively maintained and developed whilst preserving the sense of place. |
| 5. To minimise impact on the environment with responsible management and stewardship. |
| 6. To provide an excellent visitor experience. |
| 7. To encourage and enable people, and in particular the young people, of Wales to visit the Island when access is possible. |
| 8. To ensure funding for the Trust and generate alternative income streams, enabling the Trust to meet its objectives. |
| The Charity can only achieve these objectives through the generous support of members, benefactors and volunteers, whose significant contribution is gratefully acknowledged. The Trust would like to pay particular tribute to: |
| All those who gave generous donations to the Trust in 2021, and to those who gave in their legacies to support the work of the Trust. |
| To all volunteers who sit on the Trust's sub committees providing their expertise to support the Trust's aims, particularly to Gwyn Stacey and Mark Crane whose in-depth knowledge and expertise of the buildings and electrical infrastructure is of constant invaluable help. As well as the many volunteers who give their time and energy volunteering on Enlli alongside the Wardens. |
| A particular thanks to the residents of Enlli, particularly to Gareth and Meriel Roberts, Christine and Ernest Evans, Colin Evans and Steve, Emma and Connor Stansfield. |
| The Trust would like to thank the staff and contractors who have delivered so much of the Trust's work during 2021, particularly to Mari Huws, Emyr Owen, Elin Gruffydd and Caroline Jones. |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
OBJECTIVES AND ACTIVITIES |
Public benefit |
| The charity has continued to maintain the island as a living community, visited, enjoyed and appreciated by as many people as possible, whilst protecting and preserving the designated nature conservation features and historical, archeological and religious sites. During 2021 the charity has delivered alongside it's objectives through the following ways: |
| 1. To support a community of residents engaged in rural enterprises. |
| The Trust has continued to support the islands residents during 2021. A special meeting was held on the island in September for all Trustees, the first face to face meeting to be held since February 2020, in which the Trustees met with every resident to listen to their hopes and ambitions for the future of Enlli. With a thriving sustainable fishery being managed by fishers who live on Enlli, a farm being farmed for conservation benefits alongside producing a high quality product, developments at the Lighthouse in motion, and an Observatory with a long standing history of monitoring Enlli's birdlife, the island is a thriving community of enterprises. |
| 2. To protect and enhance a range of characteristic habitats that support diverse and typical wildlife, which are maintained in favourable condition through appropriate management. |
| The Trust continues to work alongside Natural Resources Wales (NRW) to ensure that the range of characteristic habitats that support diverse and typical wildlife are maintained. This is delivered through the farming, with the farm leased to Gareth Roberts of Cwrt, farming in sympathy with the unique needs of Enlli's flora and fauna. The work carried out by Gareth and his family contributes vastly to the community and environment on Enlli. Ongoing monitoring is undertaken by the Bardsey Bird and Field Observatory, based at Cristin. The Trust is also careful to ensure any building works or infrastructure developments are done in a sensitive way and with appropriate permissions sought from NRW. |
| a. The Scientific Committee- The Scientific Committee has had two meetings on the island this year. Much of these meetings were still dominated by discussions on the biosecurity plan for the island. The committee are realising that this will have to involve a lot more than considerations on the possibility of invasion by rats alone, although this would have a devastating impact on the ground-nesting birds for which Enlli is justly designated. There are also other threats from other taxa, in particular marine invasive species. The writing of the plan has been delayed by the need to ensure we cover all the possible threats. The committee has been liaising with the RSPB Island Biosecurity Officers who have been supporting this work. |
| The Committee are planning to have a fresh look at woodland issues on the Island, including considering management of existing plantations where a possibility of providing a more reliable and sustainable source of firewood could support residents if the plantations are expended. In February 2021, 500 Monterrey Pines were planted to the north of the existing plantation, The Committee is also exploring what establishing more native woodland development would involve and how this may impact, positively or negatively on the island's ecosystems. |
| Other matters the committee are looking at are the re-establishment of Lon Plas (sometimes known as the green lane), the management of the apple orchard, possible new pond construction and the perennial issues around gorse and bracken management. |
| 3. To honour, celebrate, explore and share the Welsh language, natural and living heritage, culture and spirituality of the Island. |
| The Trust undertakes work in a number of ways to support this objective: |
| a) The Brenda Chamberlain Project- The work of Brenda Chamberlain continues to be preserved and displayed.The murals and their environment are professionally inspected on a regular basis. |
| b) Arts Projects- We were glad to be able to resurrect our Artists in Residence program in 2021, albeit in a curtailed form. The Trust welcomed 3 Artists during 2021. The Trust also welcomed long serving artist in resident Carole Sherman who provided her incredibly popular workshops throughout the summer holidays. |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
OBJECTIVES AND ACTIVITIES |
| c) The Spirituality Committee- |
| Membership- We are pleased to welcome Elin Owen and Rev Rhun ap Robert to our committee this year. Elin, now resident on Anglesey, but originally from Llyn has family connections with Enlli. Rhun, who lives in Pwllheli, is the new Vicar and Ministry Area Leader for Bro Enlli, the parish which serves the area between Pwllheli and Aberdaron. |
| Chaplaincy- The Committee is pleased to report that the 2021 season for Chaplaincy was fully resourced. Chaplains were present on the island almost every week during the letting period. The Committee organised a successful meet-up for Chaplain on Zoom, which was where we looked at a role description for Chaplain, as a starting point for a discussion of their experiences and the sharing of best practice for chaplaincy on the Island. |
| The Committee has continued to look for new partners to support Chaplain's accommodation and ministry, now that Carreg Trust's monies have been used. Thanks are due to Jo Porter who does all of the administration to enable our Chaplaincy team to operate and be of service. |
| Retreat- The Committee was able to realize one of its ambitions this year by organizing a retreat on Enlli. We partnered with St Beuno's Jesuit Retreat Centre, who are based near St Asaph, and the retreat was oversubscribed. We had very positive feedback from the people who came on the retreat, and so are organizing something similar in 2022. In 2023 we are looking for 2 retreats, in different styles, as we sense that there are people who are looking for this sort of provision and Enlli is a God-given resource for this important spiritual minstry. Thanks are due to Catherine Hindle, Adrian Botwright and all of the retreat team who gave up their own time to make the retreat a success. |
| Gweddiau'r Dydd: Llyfr Enlli - Prayers for the Day: Bardsey Book- One of our committee members, the Rev Janet Fletcher has put together and published this bilingual prayer book, which is now available to buy. It has been well received. Thanks are due to Janet for her immense work in bringing this book to fruition , the members of the committee who assisted Janet, as well as the Diocese of Bangor, who have covered the printing costs in advance of sales. |
| Contemplative Spirituality- The Committee is grateful to the Trust for enabling appropriate persons to have an extended solitary retreat on the island during off-peak periods. This happened in 2021, and we have an application for 2022. |
| As with all the other committees and work of our Trust, the Spirituality Committee depends on members' dedication, good will and hard work in their spare time. The Trust is very grateful for all that they do and give. Thank you. |
| d) All publications and signage are produced bilingually and simultaneous translation is provided for Trust Council meetings where possible . |
| 4. To ensure that the built landscape and infrastructure are sensitively maintained and developed whilst preserving the sense of place. |
| The Buildings Committee- 2021 has been another busy year for the buildings committee. Three principle projects continued to be the focus of the buildings committee, whilst aiding and supporting the general management and maintenance of the buildings on Bardsey. |
| The Storws project continues to be developed with a long form engagement process. Concept designs for the re-development are currently in their final phases of drafting and plans are being made for the restoration work to the building to be completed in 2022. |
| Following the successful application to the HLF Covid Relief fund for the Condition Survey and Conservation Management Plan for all the buildings on Bardsey.This work has been in process throughout 2021. |
| Site visits and surveys were undertaken throughout the spring and early summer of 2021. During late autumn and winter this information has been poured over and developed in conjunction with input from specialists such as Dr David Gwyn, Nick Holt and Harvey Blower to provide advice on heritage significance, structural condition and costing respectively. The final CS and CMP is yet to be issued but is is anticipated that planning and scheduling works following receipts of this report will take up much of the workload in 2022 and the coming 5-10 years. As a part of this expected increase in capacity an application has been made to the AHF to fund a Buildings Manager/Specialist to act on behalf of the BIT (client side) when coordinating works. |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
OBJECTIVES AND ACTIVITIES |
| Another key project in 2021 was the development of the Bunkhouse project in Beudy Nant. Geraint Roberts was appointed as the architect to develop this work and commenced work in March 2021. In September 2021 developed designs were presented to the Trust. However due to the late running of this project, funding that had been awarded was unfortunately withdrawn and as such, the decision was made to pause the work until further funding had been sought. |
| The buildings committee continued to support the work of the Wardens in small repair and maintenance jobs where required. |
| 2022 promises to be another busy year for the Buildings Committee with planned projects exploring additional Renewable Energy Infrastructure, roofing works to Carreg Fawr and Plas Bach, restoration of the Storws, and then also to manage the projects continuing from 2021. |
| 5. To minimise impact on the environment with responsible management and stewardship. |
| The Trust ensures that its work is done sensitively to the local environment of Enlli. During 2021 the Trust's solar power was supported by the wind turbine installed in late 2019, now meaning that the Trust rarely needs to use the diesel generator. Although research into an electric buggy was undertaken it was decided that at the current electrical capacity generated on the island this was not an option in the short term. The Trust is also exploring a Dark Sky Status for the Island and is in communication with the International Dark Sky Association to submit a bid for this status. This will help maintain the increasingly unique dark skies of the island, as well as potentially increase visitor opportunities and experiences focused around celebrating Dark Skies. The Trust is also installing UV filters (powered from renewable energy grid) to buildings to reduce the need for boiling water before drinking, therefore reducing gas use. |
| 6. To provide an excellent visitor experience. |
| Thanks to Covid regulations being lifted in time, the island was able to be open for visitors from March until early October during 2021. Colin Evans continued to provide an excellent service through Mordaith Llyn for both day visitors and staying guests. The Trust undertook a visitor survey of those staying in the Trust's houses at the end of the season, with 99% of visitors giving their overall experience of their stay a 5 star rating, and 94% sharing that they believed their holiday was value for money. The roles of the Wardens, Mari and Emyr, season cleaner Elin Gruffydd, the volunteers and Caroline Jones, all contributed significantly to the visitor experience. Beyond the Trust, the other residents and businesses are also integral to providing visitors with a full, interesting and enjoyable experience. |
| 7. To encourage and enable people, and in particular the young people, of Wales to visit the island when access is possible. |
| Due to the ongoing Covid-19 pandemic it has been difficult to work directly with schools and other groups during 2021 to encourage and enable young people, of Wales to visit the island when access is possible. However, visitor numbers have been high during 2021, with bookings of the houses sold out throughout the season. The Trust continues to explore the possibility of developing Lloft Nant into a bunkhouse to expand the offer for groups and make it possible for lower income visitors to experience the island. The Warden's have continued to be supported by a number of volunteers throughout the season, but with numbers lower during 2021 due to the pandemic restrictions. However, renovation work to the Beudy Plas volunteers accommodation was undertaken in order to make it possible for multiple 'households' to stay at one time. |
| 8. To ensure funding for the Trust and generate alternative income streams, enabling the Trust to meet its objectives. |
| Publications continued in 2021 in the form of the printed 2021 Yearbook and two electronic copies of Y Cafn. These are sent directly to members and made available for sale to non-members in the Trust's shop on the island. The Yearbook is also available for sale on the charity's website, thus enabling the Trust to reach out to a wider audience than just members and those lucky enough to visit Enlli in person. The Trust's social media pages (Twitter, Instagram and Facebook) are regularly updated, and the website is updated to reflect booking availability and information on the Trustees and Annual General Meetings. |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
OBJECTIVES AND ACTIVITIES |
| During 2021 the charity held its Annual General Meeting online due to Covid restrictions and to protect the health of members. This was well attended by members, with a talk given by Dani Robertson on Wales' Dark Skies and the importance of preserving and celebrating Dark Skies. The Trust's President, the Bishop of Bangor (now the Archbishop of Wales) chaired the meeting, with updates on the Trust provided by the Chair of Trustees. |
FINANCIAL REVIEW |
Financial position |
After the turmoil of 2020, 2021 was a year of trying to re-create stability and continue 2020's investments in strategic planning. The 'Staycation' boom led to a record year for both day and weekly visitors with combined income from these reaching over £100k for the first time in the Trust's history. Membership and donation income also showed healthy increases in recent years and there was record expenditure on Enlli merchandise. The apparent reduction from the Island's rent agreement is due to 2021's back payment of farm subsidies and not a reduction in rent. |
Grant income was well down in 2021, due to extraordinary nature of Covid-19 and 2020's supporting grants, but grants were received from Gwynedd Council AONB for work on Lon Plas, the Heritage Lottery Green Fund, which funded work for future planning and development and the Wales Cultural Recovery Fund which covered the additional costs incurred with re-opening to Covid safety standards. During the year the grant received in 2020 from the Heritage Lottery Emergency Fund was also utilized for roofing and consultancy work as per application. The Trust would like to thank all agencies involved for their invaluable support. |
Investments had a much more stable year than in 2020 and the useful gains will be added to the Trust's reserves to help fund future projects. |
The continued support of members and their subscriptions and donations is greatly appreciated. Use is made of both the Localgiving and Easyfundraising schemes, with the former being used for specific projects and the latter resulting in a donation each time participants shop online with selected retailers. |
2021 saw further successful funding applications leaving the Trust in a strong position to apply for major capital funding in the years ahead to put the Trust on a more sustainable footing, to improve conditions for residents and visitors and prepare us for a prosperous future. |
Investment policy and objectives |
| Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees think fit. A cautious and increasingly ethical approach continues to be taken on investments . Investments other than bank deposits are now in a Quilter (formerly known as Old Mutual) Multifunds Collective Investment Account in a range of corporate bonds and equity backed investments together with an Aviva investment portfolio . |
| Investments are made on a long term basis to ensure future financial viability . |
| The charity's financial advisor, Nigel Roberts, Element FPM Ltd, provides financial advice as required. |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
FINANCIAL REVIEW |
Reserves policy |
| Details of the Charity's funds are shown in note 17. |
| General Reserve - represents net income from on-going operations. |
| Designated Funds - earmarked by the Trustees for particular purposes |
| Abbey Maintenance fund - to establish an interpretation board for the abbey |
| Capel Enlli fund - specific donations used to maintain the chapel |
| Mother Mary Clare fund - specific donations used to fund bursaries on the island and the net cost of religious books and icons. |
| During the year the Abbey Maintenance , Capel Enlli and Mother Mary Clare funds were amalgamated into the Spirituality fund |
| Island Capital fund - represents the net income from past entitlements to Single Farm Payments and is used to cover the cost of major capital projects on the Island,. |
| Restricted Funds - funds subject to restrictions imposed by the donor and capital equipment reserves to cover the depreciation on major capital items and those grant aided: |
| Funded Equipment - to cover the depreciation of grant aided assets, major capital assets funded from the Island Capital Fund and the net book value of furniture donated or bequeathed |
| Education Project fund - the balance of a grant to take school children to the island. |
| Carreg Mawr Murals Fund - to cover restoration work on the Brenda Chamberlain murals and Carreg Fawr |
| Slipway and Adfer Enlli fund - for the restoration of the island buildings and infrastructure |
| Endowment Fund - initial appeal funds (inflation adjusted) plus realised gains on investments |
| Revaluation Fund - unrealised gains on investments. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
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. |
The charity is constituted as a company limited by guarantee and a registered charity; it is governed by its Memorandum of Association dated 24 November 1977 and its current constitution which was adopted on 18th May 2019 at the AGM of members .It is registered as a charity with the Charity Commission. Membership remained constant and, at the end of 2021 was 333 .Every member in the event of the charity being wound up undertakes to contribute to any liabilities up to a maximum of £1 . |
Recruitment and appointment of new trustees |
| All members are circulated with invitations to nominate trustees prior to the AGM; this advises them of vacancies and requests nominations for the AGM. When necessary, elections for trustees are by secret postal ballot of the members by single transferable vote as defined by the Electoral Reform Society. Trustees are appointed for a period of four years and no person may serve more than eight consecutive years unless at each successive election thereafter they are nominated by twelve members or one per cent of membership whichever is the greater and 75% of fellow directors. |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Organisational structure |
| The affairs of the charity are managed by a council of directors. The council meets approximately 4 times a year and between meetings key matters are progressed either by email or by the executive committee which consists of Chair, Vice Chair and Treasurer. |
| New Directors are given copies of all constitutional documents |
Risk management |
| The trustees review health and safety issues at each council meeting and there is an ongoing programme to review all the charity's policies.Paths, tracks and stiles are regularly checked and maintained and there is a detailed review of all the buildings in the spring and autumn. Projects are approved by council and trustees ensure they are consistent with the charity's objectives. |
| Comprehensive Risk Assessments have been carried out and are reviewed regularly. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Solicitors |
Carter Vincent LLP |
The Port House |
Port Penrhyn |
Bangor |
LL57 4HN |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Report of the Trustees |
for the Year Ended 31 December 2021 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Advisers |
Element FPM Ltd |
24 Green Meadows |
Hawarden |
Flintshire |
CH5 3SL |
Approved by order of the board of trustees on |
Bardsey Island Trust Limited(The) |
Statement of Financial Activities |
for the Year Ended 31 December 2021 |
31.12.21 | 31.12.20 |
Unrestricted | Restricted | Endowment | Total | Total |
funds | funds | fund | funds | funds |
Notes | £ | £ | £ | £ | £ |
INCOME AND | ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 4 |
Access and Accommodation | 134,973 | - | - | 134,973 | 51,239 |
Investment income | 3 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities | 5 |
Access and Accommodation | 124,509 | 48,417 | - | 172,926 | 96,844 |
Net gains on investments | - | 12,965 | - | 12,965 | 4,051 |
NET INCOME/(EXPENDITURE) | 59,787 | (24,652 | ) | - | 35,135 | 63,787 |
Transfers between funds | 17 | 20,172 | (20,172 | ) | - | - | - |
Net movement in funds | ( | ) |
RECONCILIATION OF | FUNDS |
Total funds brought forward | 113,919 |
TOTAL FUNDS CARRIED FORWARD | 519,423 |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Balance Sheet |
31 December 2021 |
31.12.21 | 31.12.20 |
Unrestricted | Restricted | Endowment | Total | Total |
funds | funds | fund | funds | funds |
Notes | £ | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
Investments | 11 |
CURRENT ASSETS |
Stocks | 12 |
Debtors | 13 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 14 | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 15 | ( | ) |
NET ASSETS |
FUNDS | 17 |
Unrestricted funds | 193,878 | 113,919 |
Restricted funds | 164,304 |
Endowment funds | 241,200 |
TOTAL FUNDS | 519,423 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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. |
Bardsey Island Trust Limited(The) (Registered number: 01344364) |
Balance Sheet - continued |
31 December 2021 |
These financial statements have been prepared in accordance with the special provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Bardsey Island Trust Limited(The) |
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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. |
Plant and machinery | - |
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. |
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. |
Bardsey Island Trust Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
2. | DONATIONS AND LEGACIES |
31.12.21 | 31.12.20 |
£ | £ |
Donations |
Gift aid |
Subscriptions |
Fees for Filming | 1,650 | 1,225 |
Heritage Lottery Fund | 10,800 | 36,800 |
National lottery grant | 1,906 | - |
AONB grant | 7,849 | - |
Cyngor Gwynedd grant | 9,150 | 20,000 |
WCVA grant | - | 22,500 |
3. | INVESTMENT INCOME |
31.12.21 | 31.12.20 |
£ | £ |
Interest received | 68 | 130 |
4. | INCOME FROM CHARITABLE ACTIVITIES |
31.12.21 | 31.12.20 |
Activity | £ | £ |
Letting | Access and Accommodation | 98,120 | 25,081 |
Boat Licence | Access and Accommodation | 9,183 | 3,083 |
Sale of Enlli Merchandise | Access and Accommodation | 6,749 | 1,401 |
Rent of farm and other properties | Access and Accommodation | 20,921 | 21,674 |
134,973 | 51,239 |
5. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 6) | Totals |
£ | £ | £ |
Access and Accommodation | 126,857 | 46,069 | 172,926 |
Bardsey Island Trust Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
6. | SUPPORT COSTS |
Governance |
Management | Finance | costs | Totals |
£ | £ | £ | £ |
Access and Accommodation | 42,148 | 3,018 | 903 | 46,069 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.21 | 31.12.20 |
£ | £ |
Depreciation - owned assets |
Surplus on disposal of fixed assets | ( | ) |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020. |
Trustees' expenses |
Travel expenses were paid to the following trustees - Sian Stacey £131 in 2021 and Rod Gritten £315 in 2020 . |
9. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.12.21 | 31.12.20 |
Charitable activity | 3 | 2 |
Bardsey Island Trust Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
10. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
Additions |
Disposals | ( | ) | ( | ) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( | ) | ( | ) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
11. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
MARKET VALUE |
At 1 January 2021 |
Revaluations |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 | 228,853 |
At 31 December 2020 | 215,888 |
There were no investment assets outside the UK. |
Cost or valuation at 31 December 2021 is represented by: |
Listed |
investments |
£ |
Valuation in 2021 | 228,853 |
Bardsey Island Trust Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
12. | STOCKS |
31.12.21 | 31.12.20 |
£ | £ |
Stocks |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Other debtors |
Prepayments |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
VAT | 3,425 | 8,735 |
Other creditors |
Accrued expenses |
15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Other loans (see note 16) | 7,500 |
16. | LOANS |
An analysis of the maturity of loans is given below: |
31.12.21 | 31.12.20 |
£ | £ |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
Bardsey Island Trust Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
17. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.1.21 | in funds | funds | 31.12.21 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 98,383 | 59,787 | 27,155 | 185,325 |
Abbey Maintenance | 750 | - | (750 | ) | - |
Capel Enlli | 4,653 | - | (4,653 | ) | - |
Mother Mary Clare | 3,150 | - | (3,150 | ) | - |
Island Capital | 6,983 | - | (6,983 | ) | - |
Spirituality | - | - | 8,553 | 8,553 |
59,787 |
Restricted funds |
Revaluation | 92,888 | 12,965 | - | 105,853 |
Carreg Fawr Murals | 5,156 | - | - | 5,156 |
Funded Equipment | 9,288 | (817 | ) | - | 8,471 |
Slipway and Adfer Enlli | 10,091 | - | (10,091 | ) | - |
Education Project | 3,570 | - | (3,570 | ) | - |
Orchard | 6,511 | - | (6,511 | ) | - |
HLF Roofing | 36,800 | (36,800 | ) | - | - |
(24,652 | ) | ( | ) |
Endowment funds |
Endowment | 241,200 | - | - | 241,200 |
TOTAL FUNDS | 35,135 | 554,558 |
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 | 184,296 | (124,509 | ) | - | 59,787 |
Restricted funds |
Revaluation | - | - | 12,965 | 12,965 |
Funded Equipment | - | (817 | ) | - | (817 | ) |
HLF Roofing | 10,800 | (47,600 | ) | - | (36,800 | ) |
( | ) | (24,652 | ) |
TOTAL FUNDS | ( | ) | 35,135 |
Bardsey Island Trust Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
17. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.20 | in funds | 31.12.20 |
£ | £ | £ |
Unrestricted funds |
General fund | 77,014 | 21,369 | 98,383 |
Abbey Maintenance | 750 | - | 750 |
Capel Enlli | 4,653 | - | 4,653 |
Mother Mary Clare | 3,150 | - | 3,150 |
Island Capital | 6,983 | - | 6,983 |
92,550 | 21,369 | 113,919 |
Restricted funds |
Revaluation | 88,837 | 4,051 | 92,888 |
Carreg Fawr Murals | 5,156 | - | 5,156 |
Funded Equipment | 13,260 | (3,972 | ) | 9,288 |
Slipway and Adfer Enlli | 4,552 | 5,539 | 10,091 |
Education Project | 3,570 | - | 3,570 |
Orchard | 6,511 | - | 6,511 |
HLF Roofing | - | 36,800 | 36,800 |
121,886 | 42,418 | 164,304 |
Endowment funds |
Endowment | 241,200 | - | 241,200 |
TOTAL FUNDS | 455,636 | 63,787 | 519,423 |
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 | 114,241 | (92,872 | ) | - | 21,369 |
Restricted funds |
Revaluation | - | - | 4,051 | 4,051 |
Funded Equipment | - | (3,972 | ) | - | (3,972 | ) |
Slipway and Adfer Enlli | 5,539 | - | - | 5,539 |
HLF Roofing | 36,800 | - | - | 36,800 |
42,339 | (3,972 | ) | 4,051 | 42,418 |
TOTAL FUNDS | 156,580 | (96,844 | ) | 4,051 | 63,787 |
Bardsey Island Trust Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
18. | RELATED PARTY DISCLOSURES |
| Haf Meredydd, a trustee, was paid a fee of £1,032 (£1,046 2020) for translating the 2021 Year Book. |