OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

Agoriad Cyf

Trustees Report

For the period ended 31st March 2024

The trustees present their report and accounts for the period 1st April 2023 to 31st March 2024.

Company Information

The names of the trustees who have acted during the period, the address of the registered office and the names and addresses of the Solicitors and Auditors of the Company are listed at the end of this report.

Structure Governance and Management

Agoriad is a registered charity and is also registered as a company limited by Guarantee. It is governed by a board of trustees who are appointed annually at the AGM. The period of office is for a year before re appointment becomes necessary. The board meets formally at least 4 times a year. The day-to-day management of the company is delegated to the Chief executive. Who within his job description has limits of authority stated. Clear protocols exist for decision making at both strategic and operational levels. Board approval is needed for any expenditure items above £3000 and any cheques for over £250 must have a board member signature as well as that of the Chief Executive. Board members are recruited through advertising and through circulation of opportunities within our networks.

Recruitment of new board members continues to be a challenge.

Trustees are given access to any relevant training offered by the local Community Voluntary Councils. Induction of trustees consists of relevant training, meetings with staff, and other board members and with the company accountant. Trustees will be given copies of all necessary company documentation, handbooks and business plans for discussion with Chief Executive and Board members.

Agoriad holds membership of a wide variety of bodies and organisations that are relevant to our aims. These include the WCVA, Social Firms Wales, and the CVC’s Medrwn Mon and Mantell Gwynedd. In addition, we have extensive network contacts with disability specific groups, local councils, DWP, Job Centre Plus and Welsh Assembly Government bodies.

Risk management is regularly reviewed and as well as board and staff input, contributions are sought from outside organisations who have specific skills e.g., chartered accountants’ employment law and H&S specialists and Agoriad’s Insurance companies..

Constitution, Objectives and Policies:

The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association.

The company’s objects and principal activities remain that of seeking to provide a service to disabled and disadvantaged client’s that is geared towards helping them into employment or vocational training.

It is our policy that:

· The services we offer will be flexible and responsive to meet the varied needs of the clients and stakeholders associated with our business.

· The service will be capable of responding to take maximum advantage of any political, environmental, and economic circumstances that impact upon gaining employment and training opportunities for our client groups.

· Agoriad will seek to maximise any opportunities that could be used to advance the employability of disabled people. These will include any relevant schemes through DWP, Jobcentre Plus, Welsh Government, and vocational training courses in further education, work experience or vocational training in any other setting. Agoriad will also seek to develop collaborative working opportunities with Health Boards FSB, Local colleges and mainstream training providers.

The roles of the Department of Work and Pensions and the Welsh Government in the provision of training opportunities will be fully recognised and utilised as having good impact at local level and appropriate action will be taken to ensure that the needs of people with a disability or at disadvantage are met in an appropriate way, commensurate to need and outcomes beyond training.

Agoriad will pursue a strategy of business development that is based on staff capability. This will be underpinned by offering all staff appropriate training and development opportunities.

Agoriad will take steps to ensure that every referral to its service will be assessed initially to establish the appropriateness and needs of the individual. Any referral not accepted will be notified as such, and explanation given as to the nature of the rejection. Individuals accepted will undergo a more detailed assessment to determine strengths and needs and to ascertain individual aspirations and requirements.

In-Depth Vocational Assessments and Vocational Action Plans will be prepared for each individual and agreed prior to the commencement of any action. In-Depth

Vocational Assessments and Vocational Action Plans will be regarded as under ownership of the individual and accessed by other agencies only with the expressed permission of that individual.

Agoriad will develop marketing strategies to identify employers and employment opportunities commensurate with individual need and further to enlist the support of employers by overcoming prejudice and ignorance of the needs of people with disabilities.

Agoriad will attempt to ensure that individuals are not placed into an employment situation unless the conditions are correct. We will also attempt to ensure that any support, financial or human that is required will be in place at the commencement of the employment, training or any other circumstance.

Agoriad will ensure that where individuals are denied the right of access to employment situations because their support or finance requirements are greater than the resources available, all such denials will be brought to the attention of the funding authority responsible, and attempt made to have the individual requirements met.

There have been no material changes to our policies since we last reported our activities apart from any adaptation to ensure compliance with any new or introduced legal requirements.

Developments, Activities and Achievements:

The trustees consider that the performance of staff delivering a service to disabled and disadvantaged clients to be both successful and delivered in a professional manner.

Agoriad position regarding its funding is as follows:

· SLA funding and spot purchase arrangements which derives from Local Authorities. This has remained stable since the ending of Covid restrictions, although greatly reduced from historical levels

There has been delays in procurement for a variety of projects and contracts as demand for services must be contextualised in uncertain economic conditions.

· The effect on trading income has yet to be understood and trends identified.in addition there has been cost increase across all our businesses that have impacted on our trading activities to contribute to Agoriad’s mission.

Agoriad’s activities are available to clients through either the medium of Welsh or English.

Late payments have presented cash flow issues to Agoriad on a regular basis and are a concern to Board and staff.

Future Developments:

We have continually reviewed our strategy. Strategies for small indigenous third sector organisations such as Agoriad to develop the ability and willingness to form collaborative arrangements to compete, share resources and enable economies of scale and critical mass have progressed. We commenced delivery of a Welsh Government pilot regarding Supported Shared Apprenticeships and Pathway 4 supported Internships through working for local colleges. Procurement practices again have again impacted strongly on our desire to be sustainable. In respect of risk analysis there are several factors that have caused and continue to cause concern to the trustees. These include:

· There are ongoing significant risks for Agoriad as well as the third sector generally being presented in the procurement practices of central and local government. This situation is being compounded by the general economic downturn and the continuing uncertainty post Brexit.

· With such a reliance on public sector opportunities the rate the public sector divests these opportunities and their approach to collaborative working is raising business planning and sustainability questions. Despite many attempts Agoriad and similar third sector organisations are finding it difficult to establish collaborative arrangements with the public sector.

During the last year Agoriad has continued the process of developing and consolidating its social enterprises and Social Firm activities. Agoriad continues to seek Collaborative working opportunities pan Wales regarding business and project development work. Agoriad trading has secured a commercial opportunity with the National Trust and the Outward-Bound trust which gives a more secure trading foothold.

The working relationship with Betsi Cadwallader Health Board continues to develop.

Staff Changes

The have been no significant staff changes during the year. The Board is now down to 2. Agoriad has advertised and continues to look for new Board members.

Subsidiary Companies

· Antur Dyffryn Ogwen

The company acquired Antur Dyffryn Ogwen Cyf in March 2006. This company is a registered charity and provides work experience to people with learning disabilities by running a café from the premises, which it owns in Bethesda, due Gwynedd. Arrangements are being made by Agoriad to dissolve this charity as it is not operational and transfer the assets to Agoriad Cyf the parent charity.

The company generated a surplus of £1,359 for the year from rental income and had reserves £81,044 as at the 31[st] March 2024.

· Dwr Cerist

Dwr Cerist was incorporated in March 2009 as a vehicle to undertake the trading activity of the water bottling plant acquired on a 5-year lease in January 2009. The lease arrangement now is on an annual basis.

The company generated a profit for the year of £5,893 (2023 Loss £8.877)

· Agoriad Trading Cyf

Agoriad Trading Cyf was incorporated on the 27th of June 2011 as a trading subsidiary to run the new Work programme contract. It also runs a café in the Snowdonia National Park.

The company suffered a loss for the year of £11,444 (2023 loss £12,703)

· Mon Social Enterprises Ltd

Mon Social Enterprises Ltd was incorporated on the 9th January 2012 to develop social enterprises on Anglesey. The company commenced trading in April 2013. It runs Caffi Parc at the Breakwater Country Park Holyhead on Anglesey.

The company suffered a loss for the year of £17,760 (2023 Loss £4,823)

Financial Review

Agoriad Cyf generated a deficit for the year of £12,550 (2023 deficit £39,638)

The group generated a deficit for the year of £34,502 (2023 deficit £64,273)

Reserves Policy

Agoriad has a reserves policy that recognises and makes provision for the following situations:

Statutory Information

Charity Commission No: 1010165

Registered No: 2700109

Registered Offices: Agoriad Cyf, Porth Penrhyn, Bangor, Gwynedd, LL57 4HN

Chief Executive: Mr A Beechey

Names of Members of the Board of Trustees 2019/2020

Mr David Austin

Mr Michael Barlow

The Company Accountants are:

A. Hughes, Jones and Dyson

Capel Moreia

South Penrallt

Caernarfon

Gwynedd

This report was approved by the Trustees on the 23[rd] December 2024 and signed on their behalf by

D Austen

Board Member

AGORIAD CYFYNGEDIG.

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024

Company Number : 02700109 Registered Charity Number : 1010165

A Hughes-Jones, Dyson & Co Chartered Accountants Caernarfon

AGORIAD CYFYNGEDIG.

Contents Page
Trustees' Report 1
Statement of Trustees' Responsibilities 2
Auditors' Report 3 - 4
Income & Expenditure Account 5
Statement Of Financial Activities 6
Balance Sheet 7
Notes 8 - 13

1

AGORIAD CYFYNGEDIG.

Report of The Trustees For the Year Ended 31st March 2024

The trustees present their annual report on the affairs of the Group together with the Accounts and Auditors Report for the above period.

This report complies with the Companies Act 2006 and should be read in conjunction with the full Trustees' Annual Report compiled according to the Statement of Recommended Practice for Accounting by Charities.

Principal Activities

The principal activity of the company was to promote and facilitate through economic integration the needs of clients with disabilities in seeking employment and training opportunities and in ensuring support for the individual to achieve this.

Trustees

The trustees of the company during the year were:

Mr David Austin Mr Mick Barlow

Statement Of Disclosure Of Information To Auditors

So far as the trustees are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each trustee has taken all steps that they ought to have taken as trustees in order to make aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Public Benefit Statement

The Trustees confirm that they have complied with their duty under section 17(5) of the 2011 Charities Act. They have considered the public benefit guidelines published by the Charity Commission and believe they have followed it's guidance in this area. The activities undertaken by the Charity during the year in furtherance of it's charitable purpose are outlined in the full trustee's report, and the trustees are satisfied that such activities provide a public benefit.

Auditors

A. Hughes Jones Dyson & Co. have expressed their willingness to remain as auditors of the company.

The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

D Austen

By Order of the Board

23.12.2024

Date

2

AGORIAD CYFYNGEDIG.

Statement of the Trustees' Responsibilities

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the Trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial accounts comply with Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

D Austen

By Order of the Board - M Barlow

23.12.2024

Date

3

Report Of The Independent Auditors To The Members Of Agoriad Cyfyngedig.

Opinion

We have audited the financial statements of Agoriad Cyf (the ''Charity'') for the year ended 31st March 2024 which comprise the statement of financial activities, balance sheets and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard and the provisions available for small entities, in the circumstances set out in note 1 to the financial statements' and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide the basis of our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Annual Report.

4

Report Of The Independent Auditors To The Members Of Agoriad Cyfyngedig

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees' responsibilities statement set out on page 2, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditors responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatement can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have assessed that the risk to the financial statements of being susceptible to material misstatement is low. We believe audit work undertaken is sufficient to identify material misstatement The key Laws and regulations affecting the company's ability to trade relate to food hygiene standards, Social Care regulations and Charity Commission rules. We have not identified or been advised of actual or suspected fraud or instances of non compliance with key regulations. The experience of the audit team was deemed to be sufficient to identify fraud or errors in this engagement.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. The description forms part of our auditor's report.

Use of the Report

This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other that the Charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. The description forms part of our auditor's report.

B Hughes

Mr Brian Hughes (Senior Statutory Auditor) for and on behalf of A. Hughes-Jones, Dyson & Co. Statutory Auditors & Chartered Accountants Capel Moreia, South Penrallt, Caernarfon, Gwynedd, LL55 1NS

Date

23.12.2024

5

AGORIAD CYFYNGEDIG.

Consolidated Income and Expenditure Account For The Year Ended 31st March 2024

Notes
Turnover
Cost of Sales
Gross Profit
Other Operating Income
Other Operating Expenditure
Operating Profit
2
Interest Received
Interest Paid
Profit Before Tax
Deferred Tax
Profit for the Year
Reserves Brought Forward
Reserves Carried Forward		 2024
£
864,164
828,423
35,741
43,185
109,224
(30,298)
8
-
(30,290)
(4,212)
(34,502)
277,018
242,516		 2023
£
756,742
753,150
3,592
77,799
145,667
(64,276)
3
-
(64,273)
-
(64,273)
341,291
277,018

6

AGORIAD CYFYNGEDIG.

Consolidated Statement Of Financial Activities For The Year Ended 31st March 2024

Notes
Unrestricted
Funds
Income
£
Donations
-
Other Trading Activities
4
453,109
Investment Income - Bank Interest
8
Charitable Activities
3
454,240
Total Income
907,357
Expenditure
Raising Funds
5
504,104
Charitable Activities
6
433,543
Total Expenditure
937,647
Net Income
2
(30,290)
Deferred Tax Provision
16
(4,212)
Transfers Between Funds
-
Net Movement in funds
(34,502)
Balances brought forward
277,018
Balances Carried forward
242,516		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
Funds
2024
£
-
453,109
8
454,240
907,357
504,104
433,543
937,647
(30,290)
(4,212)
-
(34,502)
277,018
242,516		 Total
Funds
2023
£
25,000
325,499
3
484,042
834,544
386,981
511,836
898,817
(64,273)
-
-
(64,273)
341,291
277,018

There are no unrealised gains or losses which do not appear in the SOFA. All the above results are derived from continuing activities.

7

AGORIAD CYFYNGEDIG. (Company Number: 02700109)

Consolidated Balance Sheet As At 31st March 2024

Notes
Fixed Assets
Tangible Assets
9
Current Assets
Stock
Debtors
10
Cash at Bank and In Hand
Liabilities: amounts falling
due within one year
11
Net Current Assets
Total Assets Less Current
Liabilities
Creditors:amounts falling due
in more than one year
12
Net Assets
Funds
Unrestricted
17
Restricted		 £
£
227,614
227,614
23,428
146,007
21,370
190,805
(92,913)
97,892
325,506
(82,990)
242,516
242,516
-
242,516
2024		 £
£
246,713
246,713
18,772
125,377
106,396
250,545
(126,248)
124,297
371,010
(93,992)
277,018
277,018
-
277,018
2023		 £
£
246,713
246,713
18,772
125,377
106,396
250,545
(126,248)
124,297
371,010
(93,992)
277,018
277,018
-
277,018
2023
246,713
124,297
371,010
(93,992)
277,018
277,018
-
277,018

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

D Austen

Trustee -

23.12.2024 Date

8

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2024

1 Accounting Policies

Basis Of Accounting

These financial statements have been prepared in accordance with the provisions of Section 1A ''Small Entities'' Reporting Standard for Smaller Entities and in accordance with the Statement of Recommended Practice of the Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006 and in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities.

Basis Of Consolidation

The Group accounts consolidate the accounts of Agoriad Cyfyngedig and its subsidiary undertakings.

Turnover

Turnover represents net sales of goods and services excluding Value Added Tax.

Grants

Grants of a revenue nature are credited to the income and expenditure account in the period in which they are receivable. Grants received in advance are carried forward for matching with the appropriate expenditure.

Resources Expended

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

Resources expended on restricted funds relate to expenses incurred solely on the project together with overheads apportioned on the basis of beneficiary hours.

Tangible Fixed Assets

Tangible fixed assets are stated at cost.

Depreciation is provided at the following rates on the net book value before charging depreciation at the year end in order to write off their cost less their estimated residual values over their expected useful economic lives.

ful economic lives.
Leasehold Improvements over period of primary lease
Motor Vehicles 25%
Plant & Equipment 20%
Fixtures & Fittings 20%

Capital items below £100 are written off to expenditure in the year.

Pension Contributions

The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the Income and Expenditure account.

Leased Assets

Fixed assets acquired under finance leases are included in the balance sheet at cost less depreciation. Interest payable in each period is charged to the profit and loss account. Operating leases are charged to the profit and loss account as incurred.

Auditors

In common with many businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

is stated after charging:
Pension Contributions
Auditors' Remuneration
Depreciation on Tangible Fixed Assets
Operating Lease Charges		 2024
£
13,896
10,110
20,510
2,736		 2023
£
18,082
10,400
21,938
3,885

2 Net Incoming Resources for the year

9

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2024

3 Incoming Resources From Charitable Activities

Unrestricted
Funds
£
Gwynedd County Council Grants
39,169
Lottery Grant
26,695
Access to Work
98,911
Traineeship
16,151
SSA Cambrian Training
83,913
Jobsense Project
126,280
Pathways 4
50,309
SSA Employer Income
12,643
Other Income
169
454,240		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-		 Total
Funds
2024
£
39,169
26,695
98,911
16,151
83,913
126,280
50,309
12,643
169
454,240		 Total
Funds
2023
£
34,331
234,007
45,893
-
12,550
93,153
63,235
-
873
484,042

4 Activities To Generate Funds

Unrestricted
Funds
£
Antur Dyffryn Ogwen Sales
5,560
Dwr Cerist Water Sales
13,808
Mon Social Enterprises Cafe Sales
89,892
Agoriad Trading Sales
343,849
453,109		 Restricted
Funds
£
-
-
-
-
-		 Total
Funds
2024
£
5,560
13,808
89,892
343,849
453,109		 Total
Funds
2023
£
8,740
16,150
85,061
215,548
325,499
5
Costs To Generate Funds
Unrestricted
Funds
£
Dwr Cerist Cost of Sales
12,272
Dwr Cerist Overheads
32,364
Agoriad Trading Cost of Sales
293,298
Agoriad Trading Overheads
59,328
Mon Social Enterprises Cost of Sales
77,823
Mon Social Enterprises Overheads
29,019
504,104		 Restricted
Funds
£
-
-
-
-
-
-
-		 Total
Funds
2024
£
12,272
32,364
293,298
59,328
77,823
29,019
504,104		 Total
Funds
2023
£
13,738
32,457
195,852
55,806
55,082
34,046
386,981

10

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2024

6

Charitable Activities
Unrestricted
Funds
£
Salaries & Wages
350,273
Redundancy Costs
-
Staff Pension Scheme
11,842
Staff Health Plan
1,575
Training Costs
1,736
Travelling & Motor Expenses
18,931
Client Expenses
1,367
Lottery Expenses
2,292
Equipment Leasing
2,736
Subscriptions
3,832
Telephone Charges
6,332
Heat & Light
2,920
Rent & Rates
880
Office Costs
1,066
Repairs & Renewals
413
Insurances
9,754
Computer & IT Costs
6,273
Sundry Expenses
1,712
Bank Charges
1,316
Legal & Professional Fees
2,568
Auditors Remuneration
3,720
Depreciation
2,005
433,543		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
Funds
2024
£
350,273
-
11,842
1,575
1,736
18,931
1,367
2,292
2,736
3,832
6,332
2,920
880
1,066
413
9,754
6,273
1,712
1,316
2,568
3,720
2,005
433,543		 Total
Funds
2023
£
347,063
37,904
17,076
1,497
-
26,565
1,040
19,667
3,885
2,168
3,722
3,804
2,656
4,071
1,446
11,496
4,814
3,886
1,406
10,740
4,440
2,490
511,836

11

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2024

8

Staff Costs
Wages and Salaries
Social Security Costs		 2024
£
528,518
29,624
558,142		 2023
£
446,036
35,161
481,197

The average number of employees was 31 (2023 28).

None of the Charity's employees received emoluments over £60,000 in the current or preceding year.

9

Tangible Fixed Assets - Group

Cost
At beginning of year
Additions
Disposals
At end of year
Depreciation
At beginning of year
Charge for year
Eliminated on disposal
At end of year
Net Book Value
At 31st March 2024
At 31st March 2023		 Freehold
Property
£
90,000
-
-
90,000
-
-
-
-
90,000
90,000		 Freehold
Improv'ts
£
11,688
-
-
11,688
10,345
202
-
10,547
1,141
1,343		 Leasehold
Improv'ts
£
258,575
-
-
258,575
134,607
13,609
-
148,216
110,359
123,968		 Plant &
Machinery
£
240,343
1,411
-
241,754
214,918
4,479
-
219,397
22,357
25,425		 Fixtures &
Fittings
£
74,152
-
-
74,152
71,739
1,329
-
73,068
1,084
2,413		 Motor
Vehicles
£
10,300
-
-
10,300
6,736
891
-
7,627
2,673
3,564		 Total
£
685,058
1,411
-
686,469
438,345
20,510
-
458,855
227,614
246,713

Freehold properties were re-valued on 28th March 1994 on the basis of their open market freehold values. The figures on a historical cost basis are;

1 Victoria Place £75,827 2 Victoria Place £41,221

12

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2024

10
Debtors - Group
Grants Due To Be Received
Trade Debtors
Other Debtors
Deferred Tax
Prepayments
11
Liabilities - Group:
Amounts falling due within 1 year
Creditors & Accruals
12
Creditors - Group:
amounts falling due in more than 1 year
Deferred Income		 2024
£
42,406
8,032
4,752
88,317
2,500
146,007
2024
£
92,913
92,913
2024
£
82,990
82,990		 2023
£
24,096
3,005
3,247
92,529
2,500
125,377
2023
£
126,248
126,248
2023
£
93,992
93,992

13 Statutory Information

Agoriad Cyfyngedig is a company limited by guarantee and does not have any share capital. The Company is registered in England & Wales company number 02700109. The registered office is 2 Victoria Place, Bethesda, Bangor, Gwynedd, LL57 3AG.

14 Subsidiary Undertakings

Agoriad Cyf acquired a subsidiary undertaking Antur Dyffryn Ogwen Cyf on the 14th March 2006. The company is engaged in the provision of day care aimed at providing training for individuals with learning difficulties in general life skills whilst encouraging integration, socially and commercially, with the local community. These objectives are met by running a café to provide a working environment for the students.

On the 19th March 2009 the company acquired 100% of the share capital of Dwr Cerist Cyf a company incorporated to undertake the trading activity of the mineral water bottling business acquired in January 2009.

A further subsidiary, Agoriad Trading was incorrporated on 27th June 2011.The main activity of the company is to deliver the Government's Work Programme. The objective of which is to find employment for young people. The Company also operates a café at Pen Y Pass in the Snowdonia National Park.

In January 2012, Mon Social Enterprises Ltd was incorporated. Agoriad Cyfyngedig owns 100% of the shares. The company was set up to run the existing Llys Llywelyn cafe operation as well as to undertake a new cafe venture located in Holyhead's Breakwater Country Park.

13

AGORIAD CYFYNGEDIG.

Notes To Consolidated The Accounts For The Year Ended 31st March 2024

15 Taxation

Agoriad Cyfyngedig's charitable activities fall within the exemptions afforded by section 505 of the Income Corporation Taxes Act 1988. There is no Tax liability arising in the trading subsidiaries due to losses incurred in Dwr Cerist Cyf and Mon Social Enterprises Ltd and all profits generated in Agoriad Trading Cyf being donated to the charitable parent comapny, Agoriad Cyfyngedig.

16 Deferred Tax

A provision for deferred tax was included in respect of losses incurred in three of the subsidiary companies

Losses

Balance B/Fwd
Provision released
Balance C/Fwd		 £
92,529
(4,212)
88,317

17 Analysis Of Net Assets Between Funds

Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Current liabilities
Creditors due after more than 1 year		 Restricted
Funds
£
227,614
23,428
146,007
21,370
(92,913)
(82,990)
242,516		 Unrestricted
Funds
£
-
-
-
-
-
-
-		 Total
2024
£
227,614
23,428
146,007
21,370
(92,913)
(82,990)
242,516		 Total
2023
£
246,713
18,772
125,377
106,396
(126,248)
(93,992)
277,018

During the year, no travel expenses were paid to any trustees. (2023 £Nil)

18 Trustee Remuneration And Expenses

Rèport Of The IndependentAuditors To The Members OfAgoriad Cyfyngedig. Opinion We have audited the financial statements ofAgoriad Cyf (Ihe"Charill'} for the year ended 31st March 2024 which comprise the slatemenl of financial activities, balance sheets and noles to the financlal statemenls. including a summary of significant accounting policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (Uniled Kingdom Generally Accepted Accounting Practice). In our opinion, the financial slalements: give a true and fair view of the slate of the Charit￿S affairs as at 31 st March 2024 and of its income and expenditure for the year then ended., have been properly pr8pared in accordance with Uniled Kingdom Generally Accepted Accoundng Practice: have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with Inlernalional Standards on Auditing (UK) (ISAS (UK)) and applicable law, Our responsibilities under those standards are further described in the Auditorfs respon5ibililies for the audit of the financial statements seclion of our report. We are independent of the Charity in accordance with the ethical requirements Ihal are relevant to our audit of the financial slalements in the UK. including the FRC'S Ethical Slandard and the provislons available for small entlties, in the circumstances set out in note I to the financial statements, and we have fulfilled our other ethical responslbililies in accordance with these requirements. We believe Ihal the audit evidence we have obtained is sufficient and approprlale to provide the ba519 of our opinion. Conclu5i0ns relating to going concern In auditing the financial slalements, we have concluded that the Iru$tees' use of the going concern basls of accounllng In the preparation of the financial statements is appropriate. Based on the work we have performed. we have not idenlified any material uncertainties relating to events or conditions that, individually or Collectively, may cast signlficanl doubt on the compan¥s ability to continue as a going concern for a period of al least ￿e1ve months from when the financial slalement$ are authorised for issue. Our responsibilities and the responsibilities of the di￿torS with respect to going concem are described in the relevant sections of this report. other information The Iruslees are responsible for Ihe other information. The other information comprises the information included in the annual report other than the financial statements and our auditorfs report Ihereon. Our opinion on the financial statement8 does not cover the other information and, except lo the extent otherwise explicitly Staled in our report, we do not express any form of assurance conclusion thereon. In Connection with our audit of Ihe financial statements, our responsibility is to read the olher information and in doing so, consider whether the other information is materially inconsistenl with the financial ststements or our knowledge obtained in the audit or olhemise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether there is a material misslatement in the financial slalemenls or a material misstatement of the other information. If, based on the work we have performed. we wnclude thal there is a material misslatement of Ihis olher information. we are required lo report that facl. We have nothing to ￿pOrt in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the Gourse of Ihe audit.. the information given in Ihe trustee's report (Incoiporating the slrategic ￿pOrt and the directors. report) for the financial year for which the financial statements are piepared is consistent with the financial slalements.. and thè trustees, rèport lincorporaling the strategic report and the direclo¢s report) have been prepared in accordance with applicable legal requifemenls. Matters on which we are requlred to report by exceptlon In the light of the knowledge and understanding of Ihe Charity and its environment obtained in the course of the audit. we have not identified material misstatements in the Truslees. Annual Report.

Report Of The Indepèndent Auditors To The Members Of Agoriad Cyfyngedig We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion- adequate accounting records have nol been kepl or retums adequate for our audit have not been received from branches not visited by us- the financial statements are not in agreement with Ihe accounting records and returns., certain dls¢losures of trustee, remuneration specified by law are not made., or we have not obtained all the information and explanations necessary for Ihe purpose of our audlt. the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemption from the ￿quIrernent to prepare a Strategic Report or in preparing Ihe Report of the Directors. Responsibilities of the trustees As explained more fully in the trustees, responsibilities statement set out on page 2, the trustees are responsible for the preparation of the financial statements and for being satisfied Ihal they give a true and fair view, and for such internal control as they determlne is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financlal statements, Ihe trustees are responsible for assessing the Charity's abllity lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unle55 the trustees either intend to liquidate the Charity or lo cease operations, or have no realistic alternative bul to do so. Audltors responslbllities ftir the audlt of the financlal statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from malerial misslatemenl, whelh8r due to fraud or error, and to issue an auditorf5 report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misslatemenl when it exists. Misslatement can arise from fraud or error and are considered material if, Individually or in the aggregate. they could reasonably be expecled to influence the economlc declslons of users taken on the basls ol Ihese financial statements. Th8 extent lo whlch our procedutss are Capable of dele¢ling irregularities, including fraud is detailed below: We have assessed that the risk to Ihe financial statements of being susceptible to material misslatemenl is low. We believe audit work undertaken is sufficient lo identify material misstatement The key Laws and regulations affecting the com pany's abilily to trade relate lo food hygiene standards, Social Care regulations and Charily Commission rules. We have not identified or been advised of actual or suspected fraud or instances of non compliance with key regulations. The experience of Ihe audlt team was deemed to be sufficient to identify fraud or errors in this engagemenl. A further descripiion of our responsibilities for the audit of the financial slatemenls Is located on the Financial Reportlng Council's website at W￿V.frC.Qr9.Ukl8udltQr$re$pOD$lblliIle$. The description forms part of our auditors report. Use of tho Report This report is made solely to the Charitls members. as a body. in accordance WTlh Chapter 3 of Part 16 of Ihe Companies A¢1 2006. Our audit work has been undertaken so that we mighl slate to the Charity's members those matters we are required to Stale lo them in an auditorfs report and for no other purpose. To the fullest extent pemitted by law. we do not accept or assume responsibility lo anyone other that the Charitvs members as a body, for our audil work, for this report. or for the opinions we have formed. A further d&$¢ription of our responsibilities for the audit of the financial slalements is located on the Financial Reporting Coun¢il's website at www.frc.org.uklauditorsresponsibilities. The description forms part of our auditorfs report. 8 Hughos Mr Brlan Hughe51Senior Statutory Auditor) for and on behalf ofA. Hughesdones, Dyson & Co. Statutory Auditors & Chartered Accountants Capel Morela, South PenrallL Caernarfon, Gwynedd, LL55 1NS Dafr 23.12.2024