c.ompany regislration number: 02621963 Charity rogistration number.. 1008593 Ucheldre Centre (A company limited by guarantee) Annua] Rep)rt and Financial Statements for the Year Ended 31 March 2025 Aston Hughes & Co Chartcrcd Accountants and sv)rY Auditors Selby Towers 29 Princes Drive Colwyn Bay LL29 8PE
Contents Reference and Administralive Details Strategic Re)rt 2to5 Trustees, Report 6107 Independeni Auditors, Report 8tolO Ststemenl of Financial Activities Balance Sh¢¢t 12 Statenieni of Cash FIoiv8 Notes to the Financial Statenients 14to26
Reference and Administrative Details TrUee$ Mr A Darroch Ms S Moffat MrsHXi Mr A L Roberts Ms K S Thoinas Ms S A Williams Secretsry Mr M B Gould Charity Registrntion Number 1008593 Company RegistrAtbOn Number 02621963 The charity is inwrporai¢d in England & Wales. Millbank Hol)'head LL65 1 TE RtgisÉered Office Auditor Aston Hughes & Co Chartered Accountants and Statutory Auditors Selby Toil'ers 29 Princes Driiwe Colmyn Bay LL29 8PE Page I
Strategic Report for Ibe Year Ended 31 March 2025 The trustees. who are directors for th¢ purposes of compa]iy lawy present their strategic report for the year ended 31 March 2025, in ¢ompliance ii'ith $4l4C of the Companies Act 2006. Achievemenls And performance The provision of a top qiialitv, and varied programme of perforniance events. theatrical and musical. exhibitions, filins, cl&ss¢s, and other events, as Mrell as being a Trenue for local societies and community activities, remained at the heart of U¢heldre"s existence. The enh4n¢ements made duriiig the last feii, years lo its facilities continued to have a major impact in iinproi'ing the qualitN' and range of perfonnances. Due to the building works ive have run the catering side very light with only a small refreshmenls and cakes facility in the Ga]lery. Wc will look to relaunch with new staff, and a revamped space in late spring 2026. The run light do¢s impact on numbers and incoine, of cours< bth hopefully ihe new offering on Te-opening will b(K)81 Ucheldre's finances. Despifr the consiant juggling aroLind ihe building works, and limited facilities, in FY 24-25 Ucheldre still facilitated.. 25,601 Visitors to Exhibitions . 297 Sessions of workshops for childTen, involving 6.977 attendances. . 52 Sessions of regular painting 575 attendances. 10 Sessions of opera workshops with 43 attendances. 27 Professional performances. • 23 Amateur perforniances. 88 Screenings of 63 film and satellite titles: 2,827 attendances. 2 Exhibitions. 180 Sessions including Jazz Club, Repertory Company. Adult Art Sgwrs a paned, and Literary &)ciety involving 1,840 participants. 119 Se&8ions of Community, use, involving s,9 participants. We programmed a huge range of plays, music from folk to rock though classical, films and screenings as well as many workshops and classes for children and adults. Th¢ mix of professional and amateur productions reci)mmen¢¢d. We held ihe l Oth Seemor film festival in October 2024 with entries from ivorldwide. We remain particularly pleased with the Creu Heulwenlcreating SunshÉne project which engages many Children and adults alike in creative activities. Holyhead atyard Ltd has donated ndS so we can coniinue to offer many of the activities for fre¢ which offsets the financial pressures on parent& Page 2
Strategic Report for the Year Ended 31 March 2025 Financial review It has been a biisy and lough )'ear having to prograinme and operate around the building works. Nonetheless, despite feiv¢r revenue earning activities, we have iiianaged to r¢¢over some of our Reserves wl)icl) had been depleted by oiir expenditure on en¢rJo sailing me&8ures, increased ener prices and oÉh¢r cosls. Our rev¢nii¢ grants income is stali¢. bul this does not alleviate the invtdious effecl of IJ)tlalion ivhi¢h means that in real terms we ivere probably S/ wors¢ off from even 5 years ago. Therefore, we did well, despit¢ those headwinds, to increas¢ oiir Unrestricted Reserve to £25,670, Ivith our total r¢serve an impressive £4:076,837 due to the Neivbuild. The Space tor 21 st C¢nliiry C.realive W¢ll-b¢in2 Newbuild Cost has risen to £5,768,402: and Ucl)eldr¢ has raised £5,918,402 for t]iis capital exp¢ndiWre. Work is anlicipated to be completed by l April 2026. Uclieldre continues lo research other aweiilies of fiinding, both lor reveniie and capital, a]tholI comp¢tition for all trust grants is becoming in¢r¢asinglv intense and difficuli wilh many inundated with requ¢sts for wst-of-living support. Also, ¢v¢n on hoine groiind, our bid to Cyindeithas Eliis¢nnol Ynvs Mon for fiiiiding for carrying on with our coininunitv Creu Heuliven project was unsuccessful! Ucheldre has produced a revised Business Plan ll,hich shows that the enhanced fa¢ilili¢s will greatly improve its long-lem) suslainabilily. The Holyhead LUF wide-ranging investment aims lo r¢v¢rs¢ ih¢ depressed state of the Town by increasing the number of visitors and trying to offset the ¢conomic uncertainty. ¢xa¢erbat¢d with conlinuing effects of Brexil and the can¢ellation of larg¢-srale proj¢¢ls. Hoivever, the recent r¢vived possibilitv of Ws'lfa Nellydd along with other businesses on the old Anglesev Aluininum site might b(M)st the ¢conomy of the Island. U¢h¢ldre is keeping its ¢xpenditur¢ linder carefiil review. The c4)re fill]ding provided by Anglesev County Couiicil (ACC) and Arts Council of Wales (ACW) remains vilal lo Ucheldr¢, althou01 we still need to raise over 6/0 of our income from other sources. U¢heldr¢ being retained as one of ACW'S Arts Porrfolio Wales venues ivas i'eTh' important for our stability. and as a good marker of the confidence ACW has in us which hopefully will encourage other fiJnd¢rs. Poliry on reserves Due to the large grants received for the DevelopmenL our overall Reserve has incr&gsed substantially as the accounting rules require this to be shown as an increase in our assets as we are building new facililies. These assets will be deprlated over the next 20 years. The und¢rtying operaling Costs r¢fl¢¢t¢d in th¢ Unr¢stri¢t¢d R¢serv¢ is not so robust. The Trustees, aspiration to reserves equaling lo at least 3 monihs of the Charity's exp¢nditw¢ was last achieved in 2008 but is no longer regiilarly wssible. The TnLSt¢es have long accepted £IOK as a realistic historica] average given the difficulty. d¢spit¢ varioiis fund-raising initiatives, to support even its current activiti¢s. Ucheldre's Business Plan &spir¢s lo have more robusl reserves. Investhienlpoli(y and objeedves Under the Memorandum and Articles of AssociatiOJL the Charity has ihe Wer lo make any investment which th¢ Trustees see fit. In September 2017 the Trustees updated the Cenlre's Articles to bring its governan¢e in lin¢ with current good practice. Any cash held for the short-lerm is placed in an int¢resl-bearing a¢¢ount. Page 3
Strategic Report for the Year Ended 31 March 2025 Plans for fulure perlod5 Adivitiesplllnnedio achiei'e aims Ucheldre ivill be 35 years old iii 2026. it will be a vear of celebration. The highlight will be Ihe conipletion of the Neivbuild to make it fit for purpose for the next 35 years. The firbt full year post-completion will be tlie development of the programine Lrtilising all the new spaces and gelling the KilLhcn working well. We plan the usua] wid¢ range of evenls and activities with a mix of professional and amaleur productions. 14oM'ever, the exlent of the proOnMe will depend upon our fundin& The progran]m¢ will be constrained during the remaining construction phase as we work around handing over spac¢ for building work. It ts unlikely we ivill have all spaces fvlly operational until autumn 2026. As a reminder ihe projecL Space for 2 1st Centt]ry' Creative Well-being, w'ill incliide a.. Besp)ke Dance Studio wliich can also be used as a'mindfulnesslwell-being" Studio spa¢e allowing for work-shops and classes in more intimate and suitable surroundings than the Main Hall, which woiild be freed to hold more perfoniiances and screenings. * Visual arts and crafts workshop space for practical ivorkshop activity that focuses on cliildren, schools. and adiili activity groups, and leads onto an ouidoor garden workspace. * New main entrance wilh improved circulation {in¢luding opening-up the Uoheldre Kitchen) and providing better public toilets, and changing room& witl) enhan¢ed disabled facilities. including a Changing Space, and disabled performers, friendly ¢¢$S platforni to the stage. * Revamped garden area including creation of a community gardeii and making a green space including a grassed roof to the new extension with beehives. * New servtry la relocation of the Ucheldr¢ Kitchen. * Revamped Receptio Box Office and Shop areas. * New Green Rooni with improved back-stage facilities, and repairs to the existing building including the Main Hall's exlerior wall to prevent waler ingress, and repair of tli¢ damaged rendering. * New sound system and screen for the cinen * Selethion of energy saving measures including LED lighting. air source pump for underfloor heatin& new boilers. and PV panels on the flat r(K>f with EV points in carpark. Ucheldre conlinues to play a very imwrtant role in the Anglesey Arts Fonun, IK)Sting the Seemor Film Festival and facilitating the East¢r Open Siudtos. The 2024 one saw 59 locations open ih¢ir doors with around 75 artisls taking part. Ucheldre remains a member of the Anglesey Attractions Association &s an accrediled Quality Visitor Attraction. ACW wntinues to be extrem¢lv supportive, and we remain extremely thankful to ACC for ils continuing support, wiihout which we would not be able to provide the fa¢ililies we do. However, the arts se¢tor is still very mu¢h in recovery. mode and faces many financial headwinds. Life remains difficult! Finally, we pay tribute to the in¢r¢dible deternjination and forbearance of the Staff who have soldiered on in the most iiihospitable conditions. Indeed, our audiences, visitors and Friends have also been v¢ry stoic and shown fortitude in ihe everchanging la]idscape ora building site. We ILqV¢ been encouraged by their iinslinling support, and praise, for the Project as Ihey wait in delightful anticipation of the remarkable facilities to ci)Ine. The slralegic reporl ivas approved bv the trustees of the charity on 17 December 2025 and signed on its behalf b},: Page 4
Strategie Report for the Year Ended 31 March 2025 LPar Mr A L Roberts Trust¢¢ Page 5
Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together ivith the rinancial sthtements and auditors, report ofihe charitable company for the year ended 31 MaKh 2025. Trustees Mr A Darroch Ms S Moffat MrsHXi Mr A L Roberts Ms K S Thomas Ms S A Williams Dr D Roberls (Resigned l NovembeT 2024) Mrs B Francis (Resigned 9 January 2025) Objectives and gctivilies Public benef The provision of a community arts centre open lo a]l. The trustees confirm that they have complied with the requirements of scction 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Cotnmission for England and Wales. Strn¢¢ur¢ governance management Naiure ofgoverning document Ibe company's governing documents are ils Mcmorandujn and ArtiLlcs of Association. Financial instrnments Objedlves andpollele5 The charity's activities exN)sc it to a number of financial risks including credit risl cash flow risk and liquidity risk. The charity does not use derivative financial instruments. Credit r&%k The charity's principal financial assets are bank balances and rash. trade and other Tc1Vable& The charity has no signifi¢ant wncenlralion of credit risk. Statement of trustees, responsibilities Page 6
Trustees, Report The tnist¢¢s (who are also the directors of Ucheldre Centre for the purposes of company law") are responsibl¢ for preparing the tnjstees, report and tlic financial statenienls in ac¢ordance i¥ith applicable law and United Kingdoin Accounting Standards Iunited Kii)gdom Generallv Ar¢¢pted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trnstees to prepare finanLial statements for each financial year. Under companv law the IrustLYs musl not approve the financial slatem¥nts unlcss Ihcy arc satistied that the), give a tTUC and fair vieiw of the statc of affairs of the charitable companv and of thL incoming rllrces and applicalion of rcsourccs. including ils incomc dnd cxpcnditure, ol- the charitable company fi)r that pcriod. In preparing these finanvial s#atcTncnts, the truslccs rcquircd to.. select suitable accounting policies apply them consistently. obscrvc Ihc Incthods and principles in the C.harilies SORP- make judgeinents and cstivnales that are reasoDable and prudent; state whether applicable accounting standards, comprising FRS 102 have been followed. subject to any material departures disclosed and explained in ihe financial slatements- and prepare the financial statements on the going nCern basis unles5 It is inappropriate to presume that the haritable company will continue in business. The trustees are r¢sponsible for keeping proper accounting records thal Can disclose with reasonable accuracy ai any lime the finawial w>sition of the cliarilable companv and enable them lo ensure that the fiiiancial staten)ents cotnply wilh ihe Coinpanies Act 2006. Thcv are aiso responsible for safeguarding the assds of the charitsbl¢ company and hence for tsking reasonable steps for the prevention and detection of frid and other irregularities. The trustees are responsible for tjie niaintenance and InteilY of the corporate and financial inforn)alion inLluded on the charitable Comp]Y,S ivebsite. LegIsl10n governing the preparation and dissemination of financial slatemenls may differ from legisl10 in other jwisdictions. Discltssure of information to auditor Each trstee h&s taken step5 that th¢y ought to have taken as a trustee in ordcr to Tnakc thcmsclvcs awarc of any rclcvant audit inforn)ation and io esiablish that thc charity's auditor is aware of infoTmalion. Thc trustccs nfinn that there is no relevanl inforn]alion that thcy know of and of which they know thc auditor is unawarc. Th¢ annual r¢port was approved by the truslees of the charity on 17 December 2025 and signed on its behalf by: Mr A L Roberts Trustee Page 7
Independent Auditor's Report to the Members of Ucheldre Centre Opinio We have audited the financial statements of Ucheldre Centre (the 'charity') for the year ended 31 MaTch 2025, which ¢omprise the Statement of Financial Activities, Ba]ance Sheet, Siatement of Cash Flows, and Notes to the Ftnancial Stalemenls: including a sujnmary of significa])t accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Pra¢lice). In our opinion the financial statemcnts.. give a true and lair vicw ot the stale of ihe charit) s alyairs as ai 31 March 2025 and ot its incoming resources and applicalion of rcsourccs, including its inLI)mc and expenditure, for thc ycdr thcn ended. havc bccn prOrIY prepdrcd in accordance with Uniled Kingdoin Gcnerally Acceptrd Accounllng Practice- and have been preparcd in accordance wilh Ihe rwuircments of the Companies ALI 20U6. B45is for opinion We wnduLt¢d our aiidit in accordancc with Intcrnational Siandards on Auditiiig OJK) (JSAs (UK)} applicable law. Our responsibilities under ihosc Stdards arc turther described in thc auditor responbibilitics for the audil of the fina]Icial stat¢m¢nts section of our roport. We are indepcndcnl of th¢ charity in accordce with ihe ethical rcquir¢menls that are relcvant to our audii of the financial statements in the UK, including the FRC"'s Ethical StandarLt and ive have fulfill¢d our other ethica] responsibililies in accordancc ivith these requirements. W¢ b¢lityve Ihal the audtt evidence we hai'¢ obtained is sufficient and appropriate to provide a basis for our opinion. Con¢lu$ions relating to going concern In audiling the financial statements. we have concluded that the trSte¢S use of the going concern basis of acwunling in the preparation of the financial statements is appropriale. Based on the work we have perfonned, we hav¢ nol identified any material uncertainties relating to ¢vents or conditions that. indii'idually or collectively, may cast s1¥mifi&t doubt on the ¢harity's ability to continue as a going concern for a period of at least tsvelve monihs from when ihe original financial statements were authorised for issue. Our responsibilities and the res)nSIbilItIeS of ihe trustees with respect to going concern are d¢s¢ribed in the relevant sections of this rewrt. Other iDforniAtIo The tn]stees rcsponsible for the other Anfornmtion. The other inforniation comprises the inbrniation included in the annual rcport, othcr than the financial slatcments and ow audilor's rcport thcreon. Our opinion oil the tinancia] statements docs not covcr the other infomation and, cxcept to the extent othcThs'isc cxplicitly staled in our rcwrL we do not expre any lorrn of assurance conclusion ihcTCOn. In conncction with our audil of thc fmancial slatemenls, our rcspoT]sibility is to read thc uthcr inforniation and, in doing so, consider whether thc othcr intom]ation 18 malerially inLonsistcnt with th¢ finanLial statements or our knowlcdge obtained in the al1t or othcrnisc ap2rS to bc mdterially misstated. If wc idcntifv such meTial inconsislencies or apparcnt material misslatcmcnts, we are required to detcrmine whether Ihcrc is a material misstatemenl in thc fu)an¢ial siatemenls OT a matcrial misstalement of the othcr intorniation. Jr, based on the work we have performed. we ¢onclude that there is a material misstatement of this other inforn)alion, we ar¢ required to rcwrl thai fact. We hav¢ noihing to report in this regard. Page 8
Independent Auditor's Report to the Members of Ucheldre Centre Opinion on other matter prescribed by the Companies Aet 2006 In our opinion, based on Ilie work Lindertaken in Ih¢ wurse of the audit: the inforn)ation given in the Strategic Rewrt and Trustees, Report for the financial year for ivhich the financial statements are prepared is consistent with the financial statements. and the Strategic Rqx)rt and Trustees, Report have been prepar in accordance ivith applicable legal reqiiirements. Malters on w,hich we #re required to report b), ex¢¢p¢ion In the lighi of i)ur knowlcd¥c dnd undtirstdnding of thc charity and it8 enwironmeiil obtiined in thc course of thc audit, M'e have nol idenlificd Inalcridl misstatcmcnts in thc Strategic Repori and ihe Trusl¢cs' Rcport. W¢ havc nothing to rcFX)rt in rpect of the following matters where thc CompaT]ics Act 2006 requir&s u8 to report lo you if, in our opinion= adequate accounling COrdS have not been kept, or returns adequate for our audit have not been received from branches not visiied by us. OT the financial slalemenls are nol in agyeement with the accounting records and r¢lurns' OT certain disclosures of trustees reinuneration spe¢ifi¢d bv law are not made. or w¢ have not received all the information and explaiialions we requir¢ for our audit. Rtspomsibilities of trustees As explained more fully in the Siateinent of ]steC$, responsibilities (set out on page 6 and 7), the trustee8 are reswnsible for the preparatioii of the financia] statements and for being salisfied that they give a true at]d fair iiiew, and for su¢h inlerna] control as the trustees determine is nece8S8ry to enable the preparalion of financial sLementS that are free from maleria] misstalemenL whether due lo fraud or emyr. In prcparing the financial statements, Ihe trustees are responsible for assessing the charity's ability to continue as a going concLm, disclosin& as applicable. matters related to guiT]g u)nLcrn and using the going con¢em basis of aLLounting Lmlcss thc trustees either intend io liquidate the charily ur io opcrations, or have no realtstic altcrnativc but to do so. Auditor responsibilitie5 for the audit of the finAn¢ial statements Our objectives are to obtain reasonable assurancc knut whcthcr tho financial statements as a wholc are free from material misslalement. whether duc to fraud or uror, and to issu¢ an auditor's rert ihat includes our opinion. Reasonable &88urance is a high level of assuranc¢, but is not a giiarantce that an audit conducted in accordance with JSAS (UK) will always deteci a material misstatement ivhen it exists. Misstatements can arise froni fraud or error and are considered material if, individually or iii the aggregate, they could r¢asonably be expected to influence the e¢onomi¢ decisions of users taken on the basis of these financial stat¢m¢nts. The extent to which our procedures are ¢apable of delecling irregularities, including fraud is detailed below: Pag¢ 9
Independent Auditor's Report to the Members of Ucheldre Centre We consider¢d the nature of the charity's induslry and control environment and rei'iewed policies and pro¢edures relating to fraud and compliance with laws and regulations. We also enquired with manageinent about their identification and assessment of the risk of irregularities. We communicated amongst the audit team areas t]t may exist within the organisation for fraud or non•complian¢e with laws and regulations. Where we considcrcd the risks identified may have a material elTect on thc fiiiaiicia] 8talem¥nts ur opcrations of. the ¢lidrity* audit procedures were carricd out. To address the risks idetrtified we discuyscd ttCr3 iyith key manag¢mcnt ]d rcviewed documenlalion whcrc available. In ¢oinmon with dll aiidits uiider ISA'S (UK) 14'c arc also required lo pcrforn] spccific procedures to rcspond to the risk of fraud and crror throu] managemenl OVCTridc of controls and in responyc wc incorporated t¢.qling of journal entri iviihin the main accoiinting qs'stein and the manual cntries made in the clicnt financia] reporting s>'51cm. A further description of our respnnsibilities is availabl¢ on ihe Financi&l Reporting Council's ivebsitc at: www.frs.org.uk/auditorsresponsibilities. This description forins part of our auditor's report. Use of our report This report is made 501ely to the charitable company's Iruslees. as a body, in accordan¢¢ with Chapter 3 of Part 16 of the Cijmpanies Act 2006. Our audii work has been undertaken so ihal we might state to th¢ charity s trustees those matlers we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pern)itted by law, we do not accept or assume reswnsibilily to anyone other than the Charitable company and its trustees as a bthJy> for our audit work, for this reporL or for the opinions we have fornie Andrcw Lrastnus Bsc FCA (Scnior Statutory Auditor) For and on bchalf of Aslon Hughes & Co, Statutory Auditor Selby Towers 29 Princes Drive Colwyn Bay LL29 8PE 17 D¢c¢mber 2025 Page 10
Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expendltur.e Account and Statement of Total Recognised Gains and Losses) Total 2025 Totsl 2024 Unrestricted Restricted Nots Income and Endowments from: Donations and legacies Charitable a¢tivities Investment income 260,384 94,408 4.762 2,622.114 2,882.498 94,408 4,762 ,665,884 79,348 2,811 Total Inme 359,554 2.622.114 2,981,668 1,748,043 Expenditure on: Charitable activities (329.849) (18,708) (348,557) (346.412) Total Expenditure (329,849) {18.708) (348.557) (346,412) Nct incomc 29.705 2,603,406 2,633,111 1,401,631 Net movement in funds 29,705 2.603,406 2.633,111 1.401.631 Reconciliation of funds Total funds brought fonvard (4,035) 1.473,431 1,469,396 67,765 Toiaj fimds carried forward 18 25,670 4,076,837 4,102,507 1,469,396 All of the charity s activities deTive from ¢ontinuing operations during the atx)ve Iwo periods. Ihe funds br¢akdown for 2024 is shown in note 18. The notes on pages 14 to 26 forn] an integral part of th¢sc finan¢ial ststements. Pagell
(Registration numb¢r: 02621963) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible asscts 12 3,965,199 1.481,384 Current assets Stocks tlebtors Cash at bank and in hand 13 14 15 3,399 35,285 318,089 4.742 63,314 311,022 379,078 356.773 Credltors: AmoMDt5 falling due withln ont year Net eurrent assetsl(liabilities) Net assets 16 (219,465) (391.066) 137,308 (11,988) 4,102,507 1.469,396 Funds of the charity: Restricted ineome funds Restricted funds 4,076,837 1.473.431 Unrestricted income thnds Unrestricted funds 25.670 (4.035) Totgl funds 18 4,102,507 1,469.396 Th¢ financia] statements on pag¢s I I to 26 were approved by the trustees, and authorised for issue on 17 December 2025 and sIwd on their behalf by.. Mr A L Rob¢rts Truste The notes on pages 14 to 26 forni an integral part of thcse financial slatem¢nts. Page 12
Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Note Cash flows from operting gclivities Net &gsh income 2,633,111 1.401,631 Adjustments ¢0 cash flows from non-casb items Depreciation Investment income 9,435 (2,811 ,408,255 (4.762) 2,628,349 Working cpit*l adjustments Decrease in stocks Decrease/(increa8e) in debtors (Decreaseyincrease in creditors (Decr&9se}fincrease in deferred InMe 13 14 16 1,343 28.029 {95.288) 176.313 io (30.195) 274,471 44,979 Net cash flows from operating activities Cash flows from investing a¢¢ivities Inter¢st receivable and similar income Purcha8e of Lthgible fixed assets 2,486,120 1,697.520 4,762 2,483,815) 2,811 (1,461,384} 12 Net flows from investing activities Net increase in cash and cash equivalents 2,479,053) (1.458,573) 7.067 238,947 Cash and th equivalents at l April Cash and equivalents at 31 March 311.022 72,075 318,089 311.022 All of the cash flows are derived from continuing operations during the above two p¢riods. The nofrs on pages 14 to 26 forni an integral part of thes¢ financial statements. Page 13
Notes to the Financial Statements for tbe Year Ended 31 March 2025 I Chxrity status The charity is liinited bj, guarantee, incorporaled in Engla]id & Wales, and consequentlTr does noi have share capital. Ea¢h of ihe trustees is liable to contribute an aniounl not exceeding £1 towards the assets of the ¢harity in the event of liquidation. The address of its registered offic¢ is: Millbank Holyhead LL65 ITE Tliese finanGia] stateiyjents were aiithorised for issue by the trustees 011 17 December 2025. 2 A¢eoull¢ing policies Summary of significant accounting policies key actounting estimates The principa] accounting policies applied in the preparation of thes¢ financial statements are set out below. These policies hav¢ been consistently applied to all the years presenleil: unless otherwise sialed. Statement of compliance J'he financial ststements hai'e been prepared in accordance with Accounting and Reporting by Charities- Stateinent 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)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) and the Companies Act 2006. B#sis of preparation Ucheldre Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise stthed in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties about the charit> s ability to continue as a going concern nor any significant areas of uncertainty that affect thc carrying value of assets held by the charity. ltttome and endowm¢nt$ All incom¢ is recognised on¢¢ the ¥harity has eTktitl¢ment to the income, it is probable that the income will be received and th¢ amount of the incom¢ re¢eivable can be m¢aswed reliably. Dona¢ions legacies Donations ar¢ recognised ivhen ihe charity has been notified in ivriting of both the amount and settlement date. In the event that a donation 18 subje¢t to conditions that require a level of performanc¢ by the charity before the charity is entitled io ihe fvndg, the in¢ome is deferred and nol reco]Sed until either those conditions are fully met. or the fulfilment of those conditions is wholly wiihin the control of the charity and it is probable that these condilions will be lfilled in the rqx)rting period. Page 14
Notes to the Financial Statements for the Year Ended 31 March 2025 Gr¢m¢s receivable Granls are recognised when the charity has a]1 cntitlement to ihe fimds and any conditions linked lo the graiits Ive been m¢t. Where perforn)an¢e conditions are attached to t]ie grant and are vet to be met, Ihe income i.q recognised as a liability and included on the balance sheet as deferred iiicome to be rel¢as¢d. Delernedineome DefeTred income represents an)ouiits received for future periods and is released to iiicoming resourccs in the period for which, it has been received. Sucli income is onlv deferred when: Th¢ donor specifies that tlie grant or donatioi) must only be used in fiiture accounting periods. or - The donor has impobed conditions ii'hich Inust be mel before the charity has unconditional entitlement. Expenditure All &ipenditure is r¢¢ognis¢d on¢e Ihere is a legal or Lonstructive obligation to that expendilure, it is probable settlement is required and the amounl be measured reliably. All costs are allocated to the applicable ex[ndItre heading that aggregate similar costs to ihat Category. Where cosls &9nnot be directly attribirted to particular headings they have been allocated on a basis consistent with the use of resources, with central staff c4)sts allocated on Ihe basis of time spent, and deplatIon Charges allocated on the wrtion of the assel's use. Oih¢r support costs are allocated based on the spread of staff cosls. Cliorilable adiviiies Charitable ¢xpendiliw¢ comprises those costs incurred by the charitTr' iii the deliverv of its activilies and services for its ben¢fi¢iaries. It incliides both costs that can be allocated direcily to siich a¢livilies and Ihose costs of an indirect nattire nece&8ary to sup]x)rt Ihem. Govern*nte costs These include ihe ci)sts attributable to the charity's compliance with constitutional at)d statutory requirements. including audiL strategic management and trustees me¢tings and reimbursed expenses. Government grants Governm¢nl grants are wognised based on the accrual model and are ffleasur at the fair value of the asset received or receivable. Granls are classified as relating either to revenue or to 8ss¢ls. Granls relating lo revenue are reeognised in incom¢ ov¢r th¢ period in which the related costs are recognis¢d. Granls relating lo assels are rewgnised over the ¢xpethed useful life of the asset. Where part of a gratlt relating to an asset is deferred, it is re¢ognised as defeed income. Taxation The ¢harit>' is considered to pass the tesls set out in Paragraph I Schedule 6 ofjthe Finance Act 2010 and tlierefore it meets ihe definition of a charitable conipany for UK corporation t&x purposes. A¢cordingl}', the charity is poteiitially exempt from taxation in respect of incoinc or capitsl gai¥]s received wiihin ¢al¢gories covered b), Chapter 3 Part I I of the CorrK)ration Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that siich income or gains are applied exclusively to charitable piirposes. Tangible fixed assets Individiial fixed assets costing £IO.000.00 or more are initially recorded at cost. Page 15
Notes to the Financial Statements for the Year Ended 31 Mareh 2025 Depreeiation and AmorSistion Depreciation is provided on tangible fix¢d assets so Is to writ off the cost or valuation once the assct is broil¢ into use, less any estimaled residual value: over their expected usefiil economic life as follows: A&set Class Land & buildings Furniture and cquipment l-,urniturc and equIent - audio and visua] cquipment Depreciation metbod and rate 5 /0 on cost 250/kn reducing balance 33.330/0 Straight line Stock Siock is valued ai Ihe loivcr ot cost and eslimatcd sclling price less cosls to complctc and %ell, aftcr duc rcgard for obsolctc and slow moving stocks. Cost is deiermincd using the tirst-in. firsl-out (fiFO). Trade dtbtors I"rad¢ debtors are amounts due from customer5 for m¢handise sold or services perforn)ed in the ordinary course of buslness. Trade debiors are recognis¢d iniliall), al the transaction price. They are subs¢quenily measiired a¢ amortised cost using the effective interest method, less provision for impaimenl. A provision for the impairnieiit of trade debtors is established H,hen there is objective evidence that the charity will not be able to colleth all amounts due acwrding lo the original ternis of t])e receivables. Cash aDd eash equivalents Cash and cash cquivalents comprise cush on hand and call dcposits, and other shorl-terni hI]Y liquid investments that are readily Lonvcrtible to a known amount oft.cash and are subj¥L to an insignificant risk of change in value. Trade ereditors Trade crcditors are obligatiOT]S to pay for goods or scrvices that have been acquired in the ordinary course of busine55 from sw)pliers. Accounts payable are classificd as current liabilitics if the charlty Ik)cs not have an condilional right, at the end of the rerting period. to defer scttlcmenl of ihe creditor for at least Iwelve months afi¢r Ihe reporting date. If there is an unconditional right to defer Kt¢lcm¢nt for at least twelve months after th¢ reporting date, they are presented as nonvCurn¢ liabilities. Trade creditors are rxognised initially at the Iransaction price and subsequenily m&gsured th amortised cost using the eifeclive interest meihod. Pag¢ 16
Notes to the Financial Statements for the Year Ended 31 March 2025 Foreign exchange Transactions in foreign currencies are recorded at the rat of exchange at the date of the transaction. Monetary assets and liabilities denominaied in foreign currencies ai the balance sheet date are reported al the rate8 of exchange prevailing at that date. The results of overseas operalions are translated at the ai'erage rates of exchange during Ihe period and their balance sh¥cts at thc ralcs ruling at the l)alanLc shcet datc. Exchang¢ diIferen¢cs arising on tTanslalion ol th< opcning net asscts and results oft- overseas operations arc reported in other Lornprchcnsive income and accumulatcd in eqiiity (attributed to non-Cl)nlrolling intcrcsts as appropriate). Othcr cxchange differences are rccogniscd in the Statemenl of Financial Activities in the period in which they arise ¢xccpt for.. l) exchange differences on tran8aclioT]s evrtered into lo hedge certain foreign Curren risks (see above); 2) ¢x¢hange differences arising on gains or losses on non-monctary items which are recognised in other compr¢h¢nsiv¢ in¢ome' and 3) in the ¢ of lh¢ consolidated financial slalemenls, exchange differences on nionetary ilems receivable from or payable lo a foreign operation for ivhich settl¢menl is neither planned nor likely lo occur (therefore forinino part of the T]et inv¢slm¢nt in ihe foreign operation), i¥hi¢h are recognised tn othcr comprehensive income and rewrted under equity. Fund structure UnTcslricted income fimds arc general funds th arc available for use the trustee's discretion in furtherance of the obje¢tives uf Ihc LhaTit)'. Restricted inLome funds UTC those donated for use in u purtiLU1 ar or for specifiu PUTPOSC4 thc use of which is rcstricted to ihal area or purposc. Financial instruments Classificqlion Financial assets and financial liabilities are recognised when the charity becomes a paty lo the contractual provisions of the instrument. Financtal liabilities ar equity instruments are classifjed according to the substance of the ContraVal arrangements entered into. An eqiiity instnjment is any contract that evidences a residual interest in the assets of the charitv after deducting all of its liabilities. Page 17
Notes to the Financial Statements for the Year Ended 31 March 2025 Recognilion alldmeasurenienl All financial &ssets and liabilities are initially measured al transaction price (including transaction costs), except for those financial assets classified as at fair value through profil or loss which are iniliall>' measured at fair value (which is normally the transaction priLe cxcluding transaclion costs), unlcss the aTrangem¢nt iunstilutes a tinancing transaclion. If arrangement constituics u financing transaction, the fInclaI asset ar financial li1b1]itY is incasured at the prescnt valuc of the tuture payments discounted at a market rai¥ of intcrcst for a similar debi instruJncnl. Financial assets and liabilitics are only offset in th¢ stat¢ment of financi pK)sition when. and only when thcrc exists a legally enforceablc right to t off the r¢cugnisod amounts and the charity intends either to settle on a T]et basis, or to r¢ali% Ihe asset and settle the liability simultsiieously. Financial assets are derec0]Sed when and only when a) the wntraclual rights to the ¢ash tlows from the financial asset expire or are settled, b) th¢ ¢harity transfers to another part}, substantially all of Ihe risks and rewards of ONerShIp of the fiiia]icial asseL or c) the charity,: despite having relained some, but not a]I, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharge(L ¢an¢elled or expires. Fair value measurement The best evid¢ncc of fair value is a qu()ted price for an identical &&set in an active market. When quoled prices are unavailable, Ihe pric¢ of a ren1 transaction for an identi1 asset proi'ides eviden¢¢ of fair va]ue as long as there has not been a signifi¢ant change in economic ¢ir¢iimslances or a significant lapse of lime since the transaction look place. If the market is tKIt aclive and recent transactions of an identical assct on their own are not a good estiinate of fair value, the fair valu¢ is estimated by using a valuation lechnique. Page 18
Notes to the Financial Statements for tbe Year Ended 31 March 2025 3 Income from donatlons And legacies Unrestricted funds General Restritted funds Tolal funds Donations and legacies" Donations from individuals Grants, in¢luding capilal grants. Government grants Grants from other charities 63,583 63.583 22,355 174.446 2,622.114 2.6M.469 174,446 Total for 2025 260,384 2.622,114 2,882,498 Total for 2024 137.556 1.528,328 1,665,884 4 IDeome from charitable activities Unrestricted fund5 General Total funds Shop sales Other comtni&8ion Centre hire Events inc4)me Catering Other goods 496 1,475 20,035 54.094 15,612 2.696 496 1,475 20,035 54,094 15.612 2,696 Total for 2025 94,408 94,408 Total for 2024 79.348 79,348 S Investment Ineomt Unrestricted funds GeDeral Total funds Interest receivable and similar inwm¢; Int¢r¢st r¢¢eivable on bank detK)Sits Total for 2025 4,762 4,762 4,762 4.762 Total for 2024 2.811 2.811 Page 19
Notes to the Financial Ststements for the Year EDded 31 Marcb 2025 6 Expellditure oll ebaritable activities Unrestricted funds General Restrieted funds Total funds Note Publicity c()sts Purch&8es F.vent costs Event costs Renl wer rates LighL heat and power Insurance Repairs and maintenance Telephone and f&K OtTice expenses Printin& postage and slationery CleaJJing Management chargcs payablc L¥gal and professional fees Bank ¢harges Staff costs Governance costs 6.440 6.362 6,440 6,362 18,708 77,139 18,708 77.139 1.697 33,168 4.564 11,122 2.076 352 2.532 60J 32,977 6.530 4,740 135,044 4,51M) 1,697 33.168 4,564 11,122 2,076 352 2,532 601 32,977 6,530 4,740 135,044 4,51M> Totsl for 2015 329,849 18.708 348,557 Total for 2024 282.081 64,331 346,412 In addition to th¢ penditUre analyscd abov¢. there are also gov¢rnaTW costs of £4,500 (2024 - £5.1)00) which r¢lat¢ directly to charitable activiti¢$. See nole 7 for further ddails. Page 20
Notes to the Financial Statements for the Year Ended 31 March 2025 7 Anglysis of governanee and support eosts Govtrn*nce costs Unrestrirttd funds General Total funds Audit fees Audit of the financial statements 4,5(X) 4,500 Total for 2025 4,5 4.5no Total for 2024 5,0(KJ 5,000 8 Trustees remuneration and expenses No trustees have received any reimbursed expenses OT any other benefits from the charity during the year. 9 Staff costs 1knc aggrcgatc payroll ¢osts were as follows: 2025 2024 Staff costs during the ytar were: Wages and salaries P¢nsion StS 133,588 1,456 131,859 1.566 135,044 133,425 The montbly average number of persons (including senior management I leadership team) employed by the clwity duriT]g the year expressed as fvll time equivalents was as follows." 202S Iyo 2024 Admin and support 13 13 No employee received emolum¢nls of more than £60,000 during the year. 10 Auditors, remuneratlon 2025 2024 Audit of the financial statements 4.500 5,0 Page 21
Notes to the Financial Statements for the Year Ended 31 March 2025 I l Taxation The charity is a registered charity and is therore exempt from taxation. 12 TAngible fixèd assets Lqnd and buildings Furniture equipment Total Cost At l April 2024 Additions 1,496,681 2.483,815 79,626 1,576.307 2.483,815 At 31 March 2025 3.980.496 79,626 4,060,122 D¢pr¢ciatio At l April 2024 15.297 79,626 94,923 At 31 Marth 2025 15297 79,626 94.923 Net book value Ai 31 March 2025 3.965,199 3,965.199 At 3 l March 2024 1,481,384 1,481.384 13 Stock 2025 2024 Stocks 3.399 4,742 Page 22
Notes to the Financial Statements for the Year Ended 31 March 2025 14 Debtors 2025 2024 Trade debtors Prepayments VAT recoverable Other debtors 4,364 1,144 26,582 3,195 3,893 960 20,646 37,815 35,285 63.314 15 Cash and casb equivalents 2025 2024 Cash on hand Cash at bank 1,388 316,701 1,779 309,243 318,089 311,022 16 Creditors: amounts falling due within one year 2025 2024 Trade credttors Other taxalion and social security Other creditors Accruals Deferred income 205,784 4.330 273,022 1,878 9,350 39,852 76,313 391.066 219,465 Page 23
Notes to the Financial Statements for tbe Year Ended 31 March 2025 17 Commitments Capital commitments At the balance sheet date, the charity had committed to significant capita] expenditure in relation to the Ucheldre Arts C¢ntre expansion and the ¢r¢ation of Space for 21st Century Creative Well-being project. The total commilm¢nts in respect of this work are £5.29m, with £3.95m of these costs being incU¢d up to 31 March 2025. The lotal amount contracted for but not provided in the financial statements w&% £1,340,000 (2024- £3,830,000). 18 Funds Balanct at I April 2024 Incoming resources Resourees expended Balanet *t 31 March 2025 Unrestrtcted funds General Unrestricted fund (4.035) 359,554 (329.849) 25.670 Restricted funds Islc of Anglesey County Council Lcvclling Up Fund ACW IA)ttery - D¢velopment of Centre Cr¢ating Sunshine Isle of Anglesey County Council - Transforniing Towns Place Welth Government - Space for 21 Century Wellbeing Welsh Government 1.142,793 2,077,833 3,220,626 318,591 12,048 194,282 512.873 (6,660) (18.708) 49,999 49,999 280,666 19.334 280,666 19,334 Totgl restricted funds .473,432 2,622,114 (18,708) 4,076,838 Total funds 1,469,397 2.981.668 348,557) 4,102.508 Balance It I April 2023 Resources expended Balance at 3] March 2024 resources Unrestri¢t¢d funds General Unrestricted fund 58,331 219,715 (282,082) (4,036) Pag¢ 24
Notes to the Financial Statements for the Year Ended 31 Ivlarch 2025 Bxlanet at I April 2023 Incoming resources Resources expended Bal*nte #t 31 Mareh 2024 Restrltted Filming - visuauaudio equipment Isle of Anglcscy County Council l£velling Up Fund ACW Lotiery - Development of Cenlre Creating Sunshine 9,434 (9,434) 1,142,793 1.142.793 318,591 66,945 318.591 12,048 (54,897) Tolal restritted funds 9,434 1,528,329 164,3311 ,473,432 Totsl ndS 67.765 1,748,044 (346,413) 1,469.396 Rcstrictcd capital grants from Isle 0[Ane5cY County Council, Arts Council Wal&s. and the Welsh Governmcnt for Thc Ucheldre Centre expansion and thc crcation of Spacc for 21st Century Creative Well-being project w¢ rec¢ived in the CUTrenl yvar and previous year. At the balaTEce sheet date this work is still ongoin The cating Sunshine grant enables the Centre to provide events frce of charge for the benefit of the public. Further fi]nding has been secured in the year to 31 March 2026 in relation to this project. Page 25
Notss to the Financial Statements for the Year Ended 31 Mareh 2025 19 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2025 Restricte41 funds Tangible fixed assets Currcnt assets Lrrent liabilitie 20,000 27.221 (21,552) 25,669 3,945,199 329,552 (197,913) 4,076,838 3,965,199 356.773 (219.465) Total nct asscts 4,102.507 Unrestricted funds General Total funds at 31 March 2024 Restricted funds Tangible red assets Current assets Current liabilities 20,000 290,717 1314,753) 1,461.384 88,361 176,313) 1,473,432 1,481,384 379,078 (391.0661 Total net assets (4,036) 1,469,396 20 Analysis of net funds At l April 2024 At31 March 2025 Cash at bank and in hand 311.022 311.022 Net debt 311.022 At l April 2023 311.022 At31 March 2024 C&8h at bank and in hand 311,022 311,022 Nel debt 311,022 311.022 21 Related party trallsactions During the year the ¢harity made the following related party transactions: M Gould (M Gould is ihe secretary of the charity.) During the period management fees totalling £32,977 were charged to the charity (2024.. £33,000) An unrestricted donation of £60,000 was received by the charity during the year from the related party. At the balance sheet date the amount due tolfrorn lo M Gould wa8 £Nil (2024- £24,170). Page 26