Company registration mjmber: 02621963
Charity registration numb¢r. 1008593
Ucheldre Centre
(A company limited by guarantee)
Anmd Report and Financial Statements
for the Year Ended 31 March 2024
Aston Hughe8 & Co
chart￿ Accountants and Statutory Audito
Selby Towers
29 Princes Drive
Colwyn Bay
LL29 8PE

Contents
Reference and Administrative Details
Strategic R4)0rt
2to6
Trustees, Report
7t08
tndep¢nd¢nt Auditors, Report
9toll
ststement of FtDancial Artivitle5
12
Balance Sheet
13
Statement of Cthk Flows
14
Not&8 to the Financial Statements
15to26

Reference and Admlnistratlve Detsfils
Trustee4
Mr A D&TToch
MTS B Francis
Ms S Moffat
MrsHXi
Mr A L Robert8
Ms K S Thomas
Ms S A Williams
Dr D Roberts- (Resigned l November 2024)
Mr M B Gould
Se¢retary
Charity Registration Number
1008593
Company Registratlon Number
02621963
The charity is in¢0￿￿rated in EDgland & Wal¢s.
Millbank
Holyhead
LL65 ITE
Registered Office
Auditor
Aston Hughe8 & Co
Chartered Accountants and Statutory Auditors
S¢lby Towers
29 Princes Drive
Colwyn Bay
LL29 8PE
Page I

Strateglc Report for the Year Ended 31 March 2024
The tr￿slees, who are directors for the purposes of company law, present their strategic report for the year ¢nded 31
March 2024, in compliance with $414C of the CompaDi¢s Act 2006.
AchieveDRnts Ydnd perforDMnce
The provision of a top quality, and varied programme of perfOrn￿Ce events. theatrical and musicaL exhibitions.
, Class￿, and other events, as well &s being a venue for local societies and rA)mmunity activities, remained at
the heart of Ucheldre's existence. The enhancements made during th¢ last few years to its facilities continued to
have a major impact in improving the quality and range of perfornwi¢es.
This was only our second post-Pandemic year of being fully open. Overall. a better year than last, although
audiences and visitor nwnbeTS are do1￿ on pre-Pandemic levels. However. we continue to suffer th¢ detrimental
effects of iTJfiation. huge ¢nergy ¢ost increases. and a cost-of-living crisis for many people. Not to ll￿ntion, of
course, the lingering threat of war. All these factors discouraging people from coming to perfornwjces. Therefore,
all in all, we are going to need as much financial 8UPPOrt as possible &8 we are already having to dip into our
reserves.
GAven staff shortages in the KitchetL along needing to Close the Café for the building wo￿, we have rLm the
cateting sid¢ very lighL We will look to r¢laun¢h with staff, and a revamped space in late 2025. The nm light
does impact on numbers aDd income. of course. but hopefully the new offering on re-opening will boost Ucbeldre's
In summary durirAg FY 23-24 Ucheldre facilitated:
. 25,326 Visitors to Exhibitions
. 328 Sessions of wothops for (bildr¢￿ involving 5,523 att¢ndaDces.
. 54 S￿l0￿s of regular painting 410 attendances.
. 23 Se&8ions of opera workshop8 with 77 attendallces.
. 35 Profcssionai perfonnances.
. 9 Amatew perfornwices.
114 Screenings of 52 film and satellite titles, 1,725 attendances.
13 Exhibitions.
• 172 Sessions includillg Jazz Club, Repertory Company, Adult Art, Sgwrs a paned,
Literary Society involving 1,570 participants.
. 81 Sessions of Conllnunity use. involving 1,946 participants.
Page 2

Strategic Report for the Year Ended 31 March 2024
Althouth audieDCCS rernained cautious, we are getting b￿k to som¢thing like a norn￿1 programme. As usual we
Programm￿ a huge rdnge of plays, music from folk to rock though classical. films and s¢reenings as well as many
workshops and classes for chilthen and adults. The mix ofprofessional and amateur productions h&8 recommenced.
We held the ninth S¢eM6r film ftstival in October 2023 with entries from worldwide.
We are particularly pleased with the Creu Heulwenlcreating Sunshine project which is really getting underway and
engaging many chtldren and adults alike in creative activitics. As we have secured fi]ndin& we can offer the
activities for fre¢ which offsets the financial pressure8 on parents. Wc will bc lookillg to wntIn￿ the stheme which
ended at the end of June 2024.
The gaTdens Continue to thTive but sadly all the saplings we planted in lockdown were destroyed by vandals. We will
ha￿ to ty again alld b8vc illcludcd cxt¢nsiv¢ r¢-plaDting in th¢ D￿elOPMent'S landscape proposals, but we will put
strong fencing around the plantings. We mallaged to tske euÈtAngs from the old apple tr￿S on site which were cut
down to make way for the newbuild. Twelve cuttings have taken to stock so we w511 have an orchard of OTiginal
apple trees!
Ucheldre CoDtinU￿ to play a very important role in the Anglesey Arts Fonun. Easter Sti￿10s 2023 saw 58
locations open their doors with around 70 artists tsking patL Uch¢Id￿ rernains a memlxr of the Anglesey
Attractions Association as an accredited Quality Visitor Attraction.
Flnanelal revlew
As warned in the Directors, Report last year, we had built up our reserve to spend urM)n energy saving ll￿sures, and
to offset increased energy prices and other costs. The welcome COVID Emergency fimding was vital for our
sU￿1val along with Fudougb, but the8¢ have fallen away. Followlng an exhaustive review by the Council of
Wales (ACW). we were retained as a core Arts Portfolio Member with the prospect of 3-6 year funding. However,
our bid for increased fiindillg was not successfid. and subsequently the Welsh Government's Cut to arts fimding
resulted in us receiving 2•/0 le￿. This ￿mpOUndS r¢du¢ing grdnts and the invÉdious effect of non-itrftation based
grants so that in real tern]s we are probably SO/￿ worse off from even 5 years ago. Consequently, given the d}sn￿ted
progrdmme, energy measures expenditure and the various headwinds of Inc￿Sed energy costs and Wdges, our
utlrestricted reserve has been severely reduced to a negative £4,035, although our total resetve is an astounding
£1,469,396.
Ucheldre continues to research other avenues of fundi￿ both for revenue and capital, althougb competition for all
grants is bec0n￿g Incr￿8]￿gIY intsnse and difficult with many inundated with requests for cost-of-living
support. Ucheldre was recently successful in obtsining from Arts & Busines8 Cymn4 a 750/0 funded Creative ]ntern
3 day a week post for 10 months to assist with fiwdraisillg.
The other good news of the year was that Ucheldre was successful in obtaining £4.038M for its Space for 21st
Century Cr¢ativ¢ Well-being n¢wbuild as part of the Holyh¢ad bid for UK Gov IKvelliDg Up Funding. Building
work Started in OctolKr 2023 and is expected to complete in July 2025.
Page 3

Strateglc Report for the Year Ended 31 March 2024
The cost totals £5,288.523 with fill)ding from UK LUF £4,038,523, ACW £950K and £300K from the Community
Facilities Pro￿t. We still need to fmd £700K for our wish-list of.. disabled lift access to the stsge, enhanced
land￿ap]n& properly equipped kitche￿ and a full PV and EV array on the Southern fiat roof. Appli￿tioDs are being
Ucheldre has produced a revised Business Plan wbich sbows that the enhanced facilities will greatly improve its
long-terni sustainability. The Holyhead wide investtThent aims to reverse the continuing dep￿Sed state of the Town
by increasing the nurnber of visitors and tying to offsct thc cconi)mic wicertainty, exacetbated with continuing
effects of Brexit and the cancellation of Wy]fa Newydd.
Ucbeldre is keeping its expenditure under car¢fi￿ teview. The wre funding provided by Anglesey County Council
(ACQ and ACW remains vital to Urheldre, although we still need to raise over 6￿/0 of our income from oth¢r
sources. Ucbeldre being retained as one of ACW'S Arts Portfolio Wales venues is very important for our stability,
and also as a good marker of the confidence ACW has in us whtch hopefully will en¢oura8c other fimders.
However, our bid to Cynthithas Elusennol Ynys M6n for fill]ding for carrying on with our community Creu
Heulwen project was unsuccessful!
Pollry on Mervts
Due to the large grdnts received for the DevelopmenL our overall reserve has increased subsLqntially as the
accounting rnles require this to be shown as an increase in OUT assets as we are building n¢w facilities. Th¢s¢ ass¢ts
will be depreciated over the next 20 years. The underlying operdting costs reflethed in the uDreStTiGt￿ r¢s¢rv¢ is not
so robusL with th¢ larg¢ operdting dcfi¢it whith has wnsumed our reserv¢. The TTU8tees' aspiration to res¢rves
equating to at l¢ast 3 months of the Charitys ￿pendIture was 1&8t a¢hieved in 2008. but is no longer regularly
possible. The Trustees hav¢ long awepted £IOK as a realistic historical average given the difficulty. despite vario￿8
fund-raising initiatives, to support even its cwrent activities. Ucheldre's Business Plan aspires to have more robust
JnweslM¢ntpolKy and obj¢divts
Under the Memorandum and Articles of Associatxon, the Charity has the power to ￿￿ke any investment which the
Tnthees see fiL In September 2017 the Trnstees updated the Centre's Articles to bring its governance in Ilne with
current good practice, and appointed 9 new Trustees.
Page 4

Strateglc Report for the Year Ended 31 March 2024
PlaDS for future periods
Akns dndkey objed1vesf0rfulu￿￿rIDdS
Ucheldre is 33 years 014L. the Development is aimed at n]aking it fit for the next 33 $0 tt ¢an revamp its fa¢ilities and
relaunch activities to meet the latest highest standards of an arts centre and visitor attraction.
U¢heldr¢ to providc its historically busy mixed progra1n￿￿ of exhibitions, events, and activities during the
coming year, but ever aiming to both increase attendances. and widen the catcljment of its audi¢nc¢s. We will
endeavour to continue to programrne the content of our ACW Connect and Flourish Scbeme Creating Sunshine with
us working closely with our Partner. Menter Jaitb M6n. However, the extent of the programme will depend upon our
funding. The programme will be wnstrain¢d during tbe constTUCtion phase as we work around handing over space
for building worL It is unlikely we will have all spaces fi￿Y operational until Octobcr 2025.
As part of the Development Stage Uchcldre has rccruitcd an additional mcrnbcr of staff to programmc and plan
events and activities in preparation for the NeW￿￿kId wbich will help boost activity and attendances. This is 750/
fimded by the ACW Lottery Grant for the Development.
Ucheldre is also part of the Holy Island Heritsge and Landscape. and Ports- Past and PresenL proj￿tS. These aim to
increase visitors to the area and promote and link attractions, including U¢heldr¢, th¢r¢by raising its profil¢.
U¢h¢ldre is to become a hub directing visitors to other hubs on different t1￿￿￿$.
Whilst the previous Significant improvements to Ucheldre's facilities had already seen an increase in attendances,
the wider economic difficulties could mean that raising income from audiences will be increasingly difficult.
However, despite the cancellation of Wylfa Newydl there are still a few large potential projects on the Island that,
if they ¢an)e to fruition, Could radically inwrove the local economy, and increase the workforce on Anglesey. The
possible dev¢lopments outlined below of a Dance st￿dI0, Art Studio and improved access and other facilities will
greally improve Ucheldrc's offer to the public. and potentially increase its income and swtainability.
ACW continues to be extremely supportive, and we remain extremely thankf￿ to ACC for its continuing support,
without which we would not be able to provide the facilities we do. However, the arts sector was last out of
lockdown restrictions and is very much in recovery mode still without the safety blanket of the emergency COVID
support nwsures. Life remains difficult!
The most satisf￿ng part of the year has been to sec the long planned. and wishd for, expansion of Ucheldre move
from d￿&M to reality! The extensive work undertaken with De Matos Ryan arcbitects during the Pandemic to push
ahead with raising the necessary fimds and gain1￿ full listed building and planning consents finally resulted in
planning pemission and the appointing of Grosvenor Construction Ltd as contractors in October 2023 after open
tender on S¢112Wales.
As a reminder the projecL Space for 21st Century Creative Well-being, is estimat¢d to cost just under £5.29W and
will include a:
Pagc 5

Strategic Report for the Year Ended 31 March 2024
Bespoke Dance Studio which can also be used &8 a'mindfulnesOwell-being" studio spacc allowing for workthops
and classes in more iniimate and suitable surroundings than the Main Ha]I, which would be freed to hold more
perforn)an¢¢s and ￿reenIng$.
Visual arts and ¢rafts iyorkshop spa¢e for practical workshop activity that focuses on Children, schools, and aduli
activity groups, and leads onto an outdoor garden workspace.
• New main entrance with improved circulation (incliiding opening-up the Ucheldre Kitchen) and providing better
public toilets, and changing room& ivith enhanced disabled fa¢ilities, including a Changiiig Space, and disabl¢d
perfonners, friendly access platforni to the stage.
Revamped garden area including creation of a wmmunity garden and making a grecn spacc including a grassed
roof to the new extension with beehives.
• New servery and relocation of the Ucheldre Kitche]).
• Revamped Reception, Box Office and Shop area8.
• New Green Room with improved back-stage facilities, and repairs to ihe existing building including the Main
Hall's exterior wall lo prevent water ingress, and repair of the d￿llaged rend¢ring.
. Nei¥ soiind system and scr¢¢n for the cinem&
Selection of energy saving M￿Sure$ in¢luding LED lighting, air wurce pump for undertloor l)eating, new boiler&
and PV pa]iels on the flat roof with EV wints in ¢arpark.
Th¢ strat¢gi¢ reporl was approved by the trustees of the charity on 20 Decemb¢r 2024 and signed on its behalf by:
(JL,-P, 6<
Mr A L Roberts
Trustee
Page 6

Trn$tees' Report
The In￿tee5, who a￿ directors for the pU￿￿SeS of company law, present the aDnual report tO8ether with the
financial statements and auditors, report of the clwitable company for the year ended 31 March 2024,
Objectives gctiwities
PUNIC benefv
The pmvision of a corn￿ty arts centre open to all.
Th¢ trustees confirni that they have complied with th¢ requirements of section 17 of the ChaTiti¢s Act 2011 to have
due regard to the publi¢ benefit guidance published by the Charity Commi$sioD for England and Wal¢s.
Structsrei govern4nee and management
N4thre ofgovernthg docum¢nt
The compan￿8 governing documents are its Memordndurn and Articl&s of Association.
Flnandal Instruments
Obiectsves andpolicies
The charitys activities expose it to a number of financial risks inch￿l￿g credit risK cash flow risk and liquidity risk.
The charity does not use derkvative financial illstrumcnts.
The cl]arity's principal financial asscts ar¢ bank balances and ca$￿ trade and other r¢ceivables.
The cliarity h&s no significant concentration of credit risk.
Statement of trustses, responsibllltles
Page 7

Trustees, Report
The trustees (who are also tl)e directors of Ucheldre Centre for thc piirposes of company law) are responsible for
preparing the trustees, report and the financia] statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting PracÈice}, including FRS 102 "Th¢
Financial Reporting Standard applicable in the UK and Republic of treland"
Company law requires the trustecs to prepare financial stateinents for earh financial year. Under company law the
trustees inust not approve the fin>ncial 8iatemeiits unless they are satisfied ihai they give a true and fair vieiv of the
state of affairs of the charitable conipany and of t]ie incoming resources and application of resources, including ils
income and expenditure. of the charitable compan), for that period. In preparing these financial statements, the
Iniste¢s are required io..
select suitable accounting policies and apply them consistently.
observe the methods and principlcs in the Charities SORP;
make judgements and estimates that are reasonable and prudent.
state whether applicabl¢ acwunting standards, comprising FRS 102 have been followe& subject to any material
departures disclosed and explained in the financial statetnents. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
haritable company will Continue in business.
The trLlStees are restM)nsibl¢ for k¢¢ping proper a￿)lInting records that ¢an disclose with r&gsonable accuracy at any
time th¢ financial p)silion of the Charitable wmpany and enable them to ensure that the financial statements comply
with the Companies Act 2006. They are also r¢swnsible for safegiiarding the assets of the charitable company and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on
the Charilable company's ivebsite. Legislation governing the preparation and dissemination of financia] statements
may differ from legislation in other jurisdictions.
Disclosure of information to audilor
Each trustee ha8 taken steps that they ought to have taken as a trustee in order to make ihemselves aware of any
r¢l¢vant audit infornialion and to eslablish that ih¢ ¢harity's audilor is aware of that infonnation. The trustees
confirni thcre is no relevant infonnation that they know of and of which they know ih¢ audilor is unaware.
The annual report was approved by ihe trustees of the charity on 20 December 2024 and signed on its behalf by:
Mr A L Roberts
Trustee
Page 8

Independent Auditor's Report to the Members of Ucheldre Centre
Opinion
We have audited the financial statements of U¢heldre Centr¢ (the 'chaTity') for the year ended 31 March 2024, which
comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Fitwi¢ial
Statements, including a of sigDifJcant accounting policies. The financial reporti￿ framework that Fths been
applied in their preparation is United Kingdom A¢¢ountitig Standards. comprising Charities SORP - FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom
Generally Accepted Accounling Practice).
tn our opinion the financial statements:
give a true and fair view of the state of the charity's affaiTS 88 at 31 March 2024 and of its incoming resources
and application of resources, including its income alld cxpMditure, for the then end¢d.
bav¢ b¢¢n properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and
have been prepar￿ in accordance with th¢ requirements of tbe Companies Act 2006.
Basls for oplnlon
We Conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards ate further described in the auditor responsibilities for tbe audit of
the ruw￿la1 statements section of our report. We are independent of th¢ Ghatity in accordance with the ethical
requiren￿ltS that are relevant to our audit of the fllJan¢ial statements in the UL including the FRC'S Eihical
Standarl and we have fulfilled our other ¢tbi¢al responsibilities in accordance with these requirements. We believe
that the audit eviden¢¢ we have obtsined is sufficient and appropriate to provide a basis for our opinion.
Conduslons relating to going eoncern
ID audititig the financial statements, we have con¢lud¢d that the tsustees use of the going concern basis of accountffitig
iti the preparation of the fllwicial stat¢nLents is appropriate.
Based on tbe work we have ￿f0rnIe4 we have not identified any Materi￿ uncertainties relating to events or
nditions that, individually or collectively, may c&8t Significant doubt on the clwity's ability to CQDtinue as a going
¢on¢¢rn for a period of at Icast tw¢lve months from when the original fmancial statements were authoris¢d for i￿lle.
Our respoDsibilities and the res￿nsIbilitieS of the tn￿le¢S with respect to going ¢oncern are described in the relevant
sections of this report.
Other Inforniation
Th¢ truste¢s ar¢ r¢srK)nsible for the other infommtion. The other infonnation comprises the information included in
the 8nnuaJ report. other than the fjnancial statements and our auditor's report thcreon. Our opinion on the financial
statenjents does not cover the other infornmtion an￿ except to the extent otherwise explicitly ststed in our reporL we
do not express any fonn of assurance conclusion thereon.
tn connection with our audit of the financial statements, our responsibility is to read the other iDforn]ation in
doing so, consider whether the other infotmatioTh is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify sucb matcrial
inconsistencies or apparent material misstatement& we are required to dd¢rrnine whether there is a material
misstat¢m¢nt iti the financial statements or a material misstatement of the other inforn￿tiOn. If, based on the Work
we have terforniel we conclude that th¢r¢ is a mat¢rial misstst¢m¢nt of this other infonnatioty we are required to
report that fa¢L
We have nothing to report in this regard.
Page 9

Independent Auditor's Report to the Membern of Ucheldre CeDtre
Oplnlon on other matter prescrlbed by the Companies Aet 2006
tn our OPiDiOQ based on the work undertaken in the course of the audit:
th¢ Inforn￿tiOn given in the Strategic R¢port and Trustees, Report foT the rUw￿la1 year for which the fu￿￿la1
statements are prepared is consistent with th¢ financial statsments: and
the Strategic Report and Tn￿tees, Rep)rt have been prepared in accordance with applicable legal requirrnts.
Matters on which we are required to report by exception
In the light of our knowledge alld understanding of the charity and its environment obtained in the ￿urse of the
audit, we have not identified n￿181 misstaten￿8 in the Strategic Rqx>rt aTkd the TTUStees' ReporL
We have nothing to rwort ill reSp￿t of the following D￿tter8 wbere the ComF)anies Act 2006 rquites us to report to
you if. in our opinion:
adequate acwunting records have not been k¢pL or r¢turns adequate for our audit have Dot been ￿¢¢iVed from
brdn¢hes Dot visit¢d by us. or
the finan¢ial statements ar¢ not in agreement with the a￿ountIng records and returns; or
certain disclosures of trustees remuneration specified by law are not made. or
w¢ have not received all the Inforn￿tiOn and explatiations we require for our audit.
Responslblllties of trustees
As explained more fidly in the Statement of tniste¢$' responsibilities (8¢t out on page 7 and 8}, the tn￿tee8 are
responsible for the preparation of the finati¢ial statements and for being satisfied that they give a tn￿ and fair view,
and for such internal control as the trustees deleTmine is necessary to enable the prepatation of financial statements
that are free from maknial misstatemenL whether thie to fraud or error.
In preparlng the financial statements, the tTr￿teeS are responsible for ￿SesSIng the chtiTity's ability to continue as a
going concern, disclosing, as applicable, matter8 related to going concern and using th¢ going con¢¢rn basis of
accounting unless the lJustc¢s ¢ith¢r int¢nd to liquidate the charity or to c¢w operations. or have no realistic
Iternative but to do so.
Auditor respollsibilitses for the audit of the financial ststements
Our objectives are to obtain reasonable assurance about whether the financial 8latements as a whole are free from
material misstatemenL whether due to fraud or error, and to issue an auditor's report that includes our opinion.
ReasoDable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance wryth
ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error
and are consid¢Ted material if. 1ndivithi￿IY or in the aggregate. th¢y could reasonably be expected kn influence the
e¢onomi¢ decisions of users taken on the basis of these finan¢ial statements.
The ¢xt¢nt to which our pro¢edures are Capable of det¢rting irregulariti¢s. including fraud is detailed ￿lOw.
Page 10

Independent Auditor's Report to the Members of Ucheldre Centre
We considered the nature of the cl]arity's ]nd￿ty and control environment and reviewed policies and procedures
relating to fraud and compliance with laws and regulations. We also ¢nquxred with management about their own
identification and assessment of the risk of iLTegularities.
We conllnunicated amongst the audit teaTll are&8 that may exist within the organisation for fraud or non-compl1al￿e
with laws and regulatio￿. Where we considered the risks identified may have a material effect on the financial
slatements or operatioDS of the clwity. audit procedures were ￿TrIed out. To addre88 the risk5 identified we
discussed mattery with key managemott and rcvicwcd documclltation whcre availabl¢.
tn common with all audits under ISA'S IUK) we are also required to p¢rforni specific procedures to respond to the
risk of fraud and error through management override of controls and in response we Incor￿￿rated testing of journal
entiies within the main accounting system and the manual entries made in th¢ ¢li¢nt financial reporting system.
A fijrther description of our responsibilities is available on the Financial Reporting Council's website at:
www.frs.org.uklauditorsre8ponsibilities. This description fomis part of our auditorfs report.
Use of our report
This report is made solely to the cbaTitable compatty's tr￿tee$. ag a IK>dy. in a¢cordan¢e with Chapter 3 of Part 16 of
the CompanRes Act 2006. Our audit work has been undertaken so that we might state to the charity's 1mstees those
matters we ar¢ r¢quir¢d to stat¢ to th¢m in an auditor's report and for no other purpo8¢. To the fi￿est extent
pernlitted by law, we do not accept or assume responsibility to anyone other than the charitable compaDy and its
iTUStees as a iKKly. for our audit worL for this r￿Or¢ or for the opinions we have fotmed.
Andrew Erasmus Bsc FCA (Senior Statutory AuditOT)
For and on behalf of Aston Hughes & Co, Statutory Audltor
Selby Towers
29 Princes Drive
ColwyD Bay
LL29 8PE
20 December 2024
Pagcll

Statement of Financial Activitles for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains and
Losses)
Total
2024
Total
2023
UnrestrACted Re8tricted
Note
Incon￿ and EDdoWn￿￿t9 from:
Donati￿ and legaci¢s
Charitable activities
Investment income
137,556
79,348
2,811
1,528,328
1.665.884
79,348
2,811
225.041
84,443
45
Totsl Income
219,715
1,528J28
1,748,043
309,529
Expenditure on:
Charitsble activities
(282,081)
(64,331)
(346,412)
(307,852)
Total Expenditure
(282,081)
(64,331
(346.412)
(307,852)
Net (ex￿nditU￿YjnCQrne
(62.366)
1,463,997
1,401,631
1,677
Net nx)veDTht in funds
(62,366)
1.463,997
1,401.631
1.677
Rcconclllatlon of fund8
Total funds brougbt forward
58,331
9.434
67.765
66,088
Totsl funds carried forward
1,473,431
1,469,396
67,765
All of the charity's activities derive from ¢ontimiing operations during the aknve two periods.
The funds breakdown for 2023 is shown in nofr 19.
The notes on pages 15 to 26 form an Inte8￿ part of these financial statements.
Page 12

(Registration number: 02621963)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assets
13
,481.384
29.435
Current 4$sets
Stocks
D¢biors
Cash at bank and in hand
14
15
16
4,742
63.314
311,022
4,752
33.119
72.075
379,078
109,946
Creditors: Amounts falling due within one year
17
391.066
(71,616)
Net current {lixbilitiesyas$¢ts
{11,988)
1,469,396
38,330
Net assets
67,765
Funds of the charity:
Restricted in¢om¢ funds
Restricted funds
1,473,431
9.434
Unrestricted income funds
Unrestricted funds
(4,035)
58.331
Totsl funds
19
1,469,396
67,765
The financial statements on pages 12 to 26 were approved bv the trustees, and authorised for iSsi￿ on 20 December
2024 and signed their behalf by:
Mr A L Roberts
Trustee
The notes on pages 15 to 26 forni an integra] part of these financia] statements.
Page 13

Statement of Cash Flows for the Year Ended 31 March 2024
2024
2023
Nots
Cash nows from operating activities
Net casb in￿e
1,401,631
1.677
Adjustments to ¢ash flows from Don-casb items
Depreciation
Investhient inwme
9.435
2,811
1.408,255
13.121
45
14,753
Worklng eapfital adjustments
DcGreas¢ in sto¢ks
(Incr￿seydecrea8e in debtors
tncreasel(decreas¢) in creditors
Increasel(decrease) in deferred income
14
15
17
io
(30,195)
274.471
44,979
219
5.829
(14.467)
2,972
Net cash flows from op¢rating artiviti
1,697,520
3.362
Cash flows froni investing activities
tnt¢rest r¢¢eivable and similar income
Purchase of tsngible fixed assets
2.811
1.461,384
45
13
Net cash flows from investing activities
1,458.573
45
in¢re4se in ca8h and cash equivalents
238.947
3.407
Cash and ¢&sh equivalents at l April
Cash and cash equivalents at 31 March
72,075
68,668
311,022
72,075
All of the c&8h flows are derived from continuing operations during the above two periods.
The notes on pages 15 to 26 forni an integral part of these financial statements.
Page 14

Notes to the Flnanclal Ststements for the Year Ended 31 March 2024
I Cbarity Staths
The clwity is limited by guarantee. incorporated in EnglaDd & Wales, and consequently does not have share capitsl.
Each of th¢ tn]ste¢s is liabl¢ to contribute an amount not exceeding £1 towards the assets of the cliarity in th¢ event
of liquidation.
The address of its registered office is:
Millbank
Holyhead
L1fj5 ITE
These fmancial statements were authorksed for issue by the trustees oll 20 Der¢mb¢r 2024.
2 Accomnting polides
Summairy of slgnfficant accoundng pollcles and key accounthig estlmates
The principal accounting policies applied in the preparation of these financial Statements are set out below. These
policies have been consistently applied to all the yeaTS presented, unless otherwise stated.
StateD￿llt of complianee
The fmancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement
of Recommended Practice (applicable to charities prcpaTing their accounts in accordance with the Finaticial
R¢￿rt1Thg Standard applicable in the UK and Rq)ublic of Ireland (FRS 102)) (issued in October 2019) - (Charitics
SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Jreland (FRS 102) and
the Companies Act 2006.
Bgsls of prepAratlon
Ucheldre Centre meets the definition of a publi¢ b¢n¢fit entity under FRS 102. Assets and liabilities are initially
re¢ognis¢d at historical cost or transaction value Ullle￿ othenvise stated in the relevant accounting policy notes.
GolDg concern
The trustees consider that there are no mafrTial uncertainties about the thaTity's ability to Continue as a going
concern nor any significant are&8 of uncerthty that affect the carrying value of assets held by the clwity.
Income and endowments
All illCOEllC is recogDi8ed once the cliarity has entitlement to the incomc. it is probablc that the In￿M¢ will be
received and the amount of the income receivable can be rne&8ured reliably.
Donalions andlegacies
Donations are r¢cognised when the charity has been notified in writing of both the amount and Settlement date. In
the eveDt that a donatioj) is subject to ¢onditions that require a level of perfornwice by th¢ charity before the Charity
is entitled to the fi￿d4 the income is deferred and not re¢ognised until eithcr those conditions fully met, or the
fulfilment of those conditions is wholly within the control of the clwity and it is probable that these conditions will
be fulfilled in the reporting period.
Page 15

Notes to the Financfial Statements for the Year EDded 31 March 2024
Grnnts recelvable
Grants are recognised when the charity has an entitlement to the fimds and any conditions linked to the ￿lts have
been met. Where perforniance conditions are attached to the grant and are yet to be mel the income is recognised as
a liability and included on the balance sheet as deferred income to be released.
Deferredixcome
Deferred income represents amounts received for future periods and is released to inwming r¢s(yurc¢s in the period
for whith, it has been received. Such in¢oTne is only deferred when:
- The donor specifies that the grant or donation must onty be used in future accounting periods. or
- The donor has 1rnpos￿ conditions whi¢h must b¢ met bef1￿¢ the tharity has wiconditional entitlement.
E￿ndIture
All ¢xp¢nditure is recognised once there is a legal or collstructive obligation to that expenditure. it is probabl¢
ttlement is required aDd the amount can be measured reliably. All costs allocated kn the applicabl¢ expenditure
heading that aggregate similar costs to that ¢ategory. Wh¢r¢ rosts cannot be dir¢¢tly attributed to particular headings
they hav¢ be¢n allocated on a basis consistent with the use of resourtts. with ¢entral staff Costs allocated on the
basis of time Sp￿t. and depwiarion charges allo¢ated on the portion of the asset's use. Other support costs are
allocated based on tbe spread of stsff costs.
Charilable acliiyties
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for
its beneficiaries. It include8 both costs that can be allocated directly to such activities and those costs of an indircct
natur¢ necessary to support them.
Governance eosts
These include the Costs attributsble to the charity's conwliance with constitutional and statutory requIren￿lts,
in¢luding audiL strategic management and ln￿treS meetings and reimbursed expenses.
Goyernment Erants
Government grants ate Tecogllised based on the accn]al model and are measured at the faiT value of the asset
received or receivable. Grnnts are classified as relating either to revenue or to assets. Grants relating to revenue are
recognised in income over the period in which Ihe related costs are recognised. Grants relating to assets are
recogt)ised over th¢ expected useful life of Ihe ￿SeL Where part of a grant relating to an asset is deffflTc￿ it is
recogni8ed as defrrred income.
Taiation
The cbarity is considered to pass the *sts set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it
meets the definition of a ¢haritable cornpany for UK COTPOTation tax purposes. Accordingly. the charity is potentially
excrnpt from taxation in respect of income or ¢apital gains re¢eiv¢d wiihin rat¢gori¢s cov¢rcd by Chapt¢r 3 Part I I
of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gain8 Act 1992, to the ￿tellt that
such income or gains are applied exclusively to charitable PUTP(IS¢S.
Tanglble fixed assets
Individual fixed assets costing £10,000.00 or more are initially recorded at cost.
Page 16

Notes to the Flnanclal Statements for the Year Ended 31 March 2024
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or Valuatio￿ less any estimated residual
value, ov¢r their expected useful economic life as follows:
Asset elass
Land & buildings
Furniture and equipment
Furniture and equipment . audio and visual equipment
Depreciation method and rate
5 /0 on cost
25 /0 reducing balance
33.330/0 straight lin¢
Stock
Stock is vah￿d at the lower of cost and estimated selling price less costs to complete and selL after due regard for
obsolete and slow moving stocks. Cost 18 detemiined using the first-itL first-out IFIFO).
TrAde debtors
Trdde debtors are atnounts due from customers for merchandise sold or services performed in the ordinary course of
business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost
usitig the effective iDt¢rest metho( less provision for impairnient. A provision for the impairn￿lI of trade debtors is
established when there is objective evidence that the Clwity will not be able to Collect all amounts due according to
the oriwal tenns of the rrteivables.
Cash eAsh equlvalents
Cash and casb equivalents comprise cash on hand and call deposits. and other short-terni higbly liquid investments
that are readily convertible to a known amount of cash and ate subject to an insignificant risk of thge in valu¢.
Trade creditors
Trade creditors ar¢ obligaii(ms to pay for goods OT services that have been acquirLxI in the ordinary course of
business from suppliers. Accounts payabl¢ are ¢la&8ifie41 as Current liabilities if the charity does not have an
un¢onditional righL at the end of the reporting period, to defer settlement of the creditor for at lea8t twelve months
after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after th¢
reporting date, they are presented as llon-current liabilities.
Trade creditors are r¢co8nised initially at the transa¢tAon price and subsequently measured at amortised cost using
the effective interest nkethod.
Page 17

Notes to tbe Flnanclal Statements for the Year Ended 31 March 2024
Foreign ueh8nge
TraDSactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets
and liabilitie8 denominated in foreign cutrencie5 at thc balance sheet dats ar¢ reported at the rdtes of exchange
prevailing at that date.
The results of overseas operations are translated at the average ratcs of cxchaDge during the period and their balan¢¢
sh¢¢ts at the rdtes nding at the balance sheet date. Exchange differences arising on translation of the opening net
assets and results of overseas operations are reported in other comprehensive illcome and accumulated in equity
(attributed to non-rontrolling interests as appropriate).
Other exchange differences recognised in the Statement of Financial Activities in the period in which they arise
except for.
l) exchange differences on Iransa¢tions entere4J into to hedge Certain foreign curr¢n¢y risks (see above).
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other
comprehensive itKome: and
3) in the case of the consolidated fi]Mncial st&tenKnts, exchange differen¢cs on monetary items receivable from or
payable to a foffign operation for wbich settlement is neither planned nor likely to occur {th¢r¢fott forniing part of
the net investment in the foreigD operation), which are recognisd in other comprehensiv¢ Illwn￿ and r¢ported
under equity.
Fund structure
Unrestricted income filnds are general fimds that are available for use at the tn￿tee'S discretion in fuTtherance of the
objectives of the charity.
R&8tricted income fimds are those donated for in a particular arca or for spccific purposes, the use of which is
restricted to that area or PUryK)S¢.
Flnanclal instrnments
Financial assets and fman¢ial liabilities are ￿08n1$¢d when the charity bewmes a paty to the contractual
provision5 of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arngements
¢nter¢d into. An equity instnunent is any contract that evidences a residual interest in the &8sets of the charity after
deducting all of its liabilities.
Pag¢ IS

Notes to the Financial Statements for the Year Ended 31 M2r¢h 2024
Recognilion andm¢4$ureMeAt
All financial assets and liabilities are initially measured at transaction price {including transaction cost8). exc¢pt for
tIK)se financial &ss¢ts GI￿lfied as at fair value through profit or loss. which are initially measured at fair value
(which is non[￿lY the transaction price excluding transaction costs}. unle55 the a[rangeD￿nt constitutes a financing
transaction. If an aTrangem¢nt ¢onsÈRtutes a financing trdnsartion. the financial or financial liability is measured
at the present value of the future payments discounted at a Tnarket rate of interest for a similar debt inslnynent.
Financial assets and liabilities are only offset in the slatement of financial position Whe￿ and only when there exists
a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or
to rea]is¢ the a&8et and settle the liabiltty Simultaneously.
Financial assets are dere¢o8tiised when and only vthen a) the contractual rights to the cash flows from the financial
asset expire or are settled, b) the charity transfers to another party substsntially all of the risks and rewards or
ownership of the fll)ancial asseL or c) the charity, despite baving retained some, but not all, sigmificant risks and
rewards of owne￿Ip, has transferred control of the asset to another paty.
Financial liabkiities are derecognis¢d only when th¢ obligation specified in the contract is discharge￿ cancelled or
expires.
Fair value measurement
The best evid￿￿¢ of fair value is a quoted pri¢¢ for an identical asset in an active markeL When quotsd priceA a
unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there
has not been a significant change in economic circumstances or a significant lapse of time since the transaction took
place. If the marknt is not active and recent transactions of an identical aS￿t on their own are not a good estimate of
fair valu< the fair value is estlmated by using a valuation lechnique.
Page 19

Notes to the Flnanclal Statsments for the Year Ended 31 March 2024
3 In¢ome from donations and l¢g*¢ies
Unrestricted
nds
General
Restrietsd
nds
Total
fund$
Donations and legacies.
Donations from individuals
GTaDts, including capital ￿.
Govenunent grants
Grants from other charities
38,400
38.400
22.801
76.355
22,801
1.604.683
1,528,328
Total for 2024
137,556
1,528,328
1,665,884
Total for 2023
221.567
3.474
225.041
4 Intomt from ebaritable aetivities
Unrestrictrd
funds
General
Total
funits
Shop sales
Other Commission
Centre hire
Events inci)me
Catering
Other goods
939
2.673
20,663
35,183
17287
2.603
939
2,673
20,663
35,183
17,287
2.603
Totsl for 2024
79,348
79,348
Totsl for 2023
84.443
84.443
5 Investm¢nt incon
Unrestricted
funds
General
Totsl
nd$
Int¢r¢st re¢eivable and sinjilar in¢On￿.
tnterest receivable on bank deposits
2,811
2,811
Totsl for 2024
2.811
2,811
Total for 2023
45
45
Page 20

Notes to the Financial Statsments for the Year Ended 31 March 2024
6 Expendfithre on ¢h8rltsble a¢ilvfttie$
Unrestricted
funds
General
Restrlcted
funds
Tot
funds
Note
Publicity costs
Purclwes
Event costs
Event costs
Rent
Water rates
Lighl heat and power
1,720
4.967
1,720
4,967
54.897
43,502
54,897
43.502
507
41.319
4.534
7,191
2,442
1.156
(910)
1,239
33,000
2,984
507
41,319
4,534
7.191
2,442
1.156
(910)
1,239
33,000
2,984
9,434
133,425
5,000
Telephone and fax
Office expenses
Pritstitig. postage and stationery
Cleaning
Management cbarges payable
Bank charges
Depreciation of fixtures and fittings
Staff costs
9,434
133.425
Total for 2024
282,081
64,331
346.412
Totxl for 2023
287,739
20,113
307,852
In addition to the expenditur¢ anaiysed aiM)v¢, thete are also governance costs of £5,000 (2023 - £1.025) wbich
relate directly to charitable activities. See note 7 for further details.
7 Att￿y$l$ of gov¢rn8n¢¢ and 511PPOrt Costs
Govern*nee eosts
Page21

Notes to the Financial Statements for the Year Ended 31 March 2024
Unre8trietsd
funds
General
Tot
funds
Audit fees
Audit of the financial statrments
5,000
Total for 2024
5.000
Total for 2023
1,025
1,025
8 Trustees remuneration expen
No trust¢¢s, nor any persons connected with hav¢ r¢¢eiv¢d any rfflllunerntion from the chatity during th¢ year.
No tnjstees have received any reimbursed expenses or any other benefits from the charity duritig the year.
9 Staff costs
The aggregate payroll costs were &8 follows:
2024
2023
Staff costs during the year were:
Wages and salaries
Pension costs
131,859
1.566
124,128
1.188
133.425
125.316
The monthly average number of persons {including senior management I leadership team) employed by the charity
during the year expressed as fl￿ time equivalents was as follows:
2024
No
2023
Admin ond support
13
13
No employce received cmoluTn¢nts of mor¢ than £60,000 during the year.
10 Independent exa￿￿￿er,5 remuDeratloD
2023
EXaMi￿tion of the finattclal Statements
1,025
Page 22

otes to the Financial Statements for the Year Ended 31 March 2024
11 Auditors, remwieratlon
2024
Audit of the financial statements
5,000
12 Taxation
The charity is a registered charity and is therefore exempt from taxation.
13 Tangible fixed a$s¢ts
Land and
bulldlngs
Furnithre and
equlpment
Total
Cost
At l April 2023
Addition8
35,297
1,461,384
79,626
114,923
1,461384
At 31 March 2024
1,496,681
79.626
1,576,307
Depreeiation
At l April 2023
Charg¢ for the year
15,297
70.191
9,435
85.488
9,435
At 31 March 2024
15.297
79.626
94,923
Net book value
At 31 March 2024
1,481,384
1,481,384
At 31 March 2023
20,000
9,435
29,435
14 Stock
2024
2023
st￿ks
4,742
4,752
Page 23

Notes to the Financial Statsments for the Year Ended 31 March 2024
IS Debtors
2024
2023
Trade debtors
Prepayments
VAT recoverable
Other debtors
3,893
960
20,646
37,815
3,740
985
21,456
6.938
63,314
33,119
16 Cash #nd ¢*sh equiv4lents
2024
2023
Cash on hand
Casb at bank
1,779
309.243
1,121
70,954
72,075
311,022
17 Creditor5: aiiioiiDts f*lling du¢ withln 00¢ y¢ar
2024
2023
TTade creditors
Other taxation and social security
Other creditors
273,022
1,878
12.372
1,481
39.852
76,313
26.426
31,334
Deferred incom¢
391,066
71,616
Page 24

Notes to the Financial Ststements for the Year Ended 31 March 2024
18 Comnrftments
Capital conubitmeDts
At the balance she¢t dat¢. the charity had committed to signifi&gnt capital expenditure in relation to the Ucheldr¢
Arts Centre expansion and the Creation of Space for 21st Century Creative Well-being project. The total
conllnitments in respect of this work are £5.29m. with £1.46m of these ¢ost8 being Incurr￿ during the year to 31
March 2024.
The total amount contracted for but not provided in the financial statements was £3,830,(KKI (2023 - £Nil).
19 Funds
B￿an¢t #t I
April 2023
Ineoming
resour¢es
Re80urees
expended
Balance at 31
March 2024
Unrestrlcted funds
General
Ullrestrict￿ fil￿1
58.331
219,715
(282,082)
(4,036)
Restricted fund8
Filming - visuavaudio equiptDent
Isle of Anglesey Cow)ty Council
Levelling Up Fund
ACW Lottery- Development of
Centr¢
Creating Sunshine
9,434
(9,434)
1.142,793
1,142,793
318.591
66,945
318.591
12.048
(54,897)
Total restrlcted fuDds
9.434
1,528,329
64,331)
1,473,432
Totsl fund8
67,765
1,748,IM4
{346,413)
1,469,396
Balallce at
31 March
2023
Balance at I
Aprll 2022
In¢omlng
resources
R￿0￿ree8
expended
Tranxf¢rs
Unrestsicted funds
Genernl
Unrestricted fund
43.533
306.055
(287.739)
(3.518)
58,331
ReBtrlcted
Filming . visuavaudio
equipment
22,555
3,474
(20,113)
3.518
9,434
Total funds
66,088
309,529
307,852)
67,765
Page 25

Notes to the Financial Statements for the Year Ended 31 March 2024
20 An￿y$l$ of net 4$sets between funds
Unrestricted
fuDd8
Gener*1
Total funds at
31 March
2024
Restricted
fund8
Tangible fixed ossets
Current assets
Current liabilities
20,000
290,717
314,753)
1,461,384
88.361
(76.313)
1,481,384
379,078
{391,066
Total net assets
(4,036
1,473,432
1,469,396
Unrestrleted
funds
General
Total funds at
31 Mareh
2023
Re8trlcted
funds
Tangible fixed assets
Current assets
Current liabilities
20.000
109,946
71,616
9.435
29.435
109,946
71,616
Total net assets
58,330
9,435
67,765
21 Analy8is of net funds
At l April
2023
At 31 Marcb
2024
C&8h at bank and in hand
311,022
311,022
Net debt
311,022
At l Aprll
2022
311.022
At 31 Mar¢h
2023
Cash at bank and in Iwid
72,075
72,075
Net d¢bt
72,075
72,075
22 Reltdted party transa¢tion8
Dunng the year the charity made the following related paty transactions:
M Gould
(M Gould is the secretary of the charity.)
During the period n￿￿geMent fees to1￿ £33,000 were charged to the ¢lwity (2023: £33.000). At the balance
sheet date the amount due to M Gould was £24,170 (2023 - £24,420).
Page 26