REGISTERED COMPANY NUMBER: 02692770 {England and Wales)
REGISTERED CHARITY NUMBER: 1011599
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
PEAK - ART IN THE BLACK MOUNTAINS LTD
(A COMPANY LIMITED BY GUARANTEE)
Graham Paul Limited
Court House
Court Road
Bridgend
CF311BE

PEAK - ART IN THE BLACK MOUNTAINS LTD
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Report of the Trustees
1 to 13
Independent Examinerfs Report
14
Statement of Financial Activities
15
Balance Sheet
16
Notes to the Financlal Statements
17 to 27

PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their
report with th8 financial statements of Ihe charity for the year ended 31 March 2024. Th8 trustees have
adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) {8ffective 1 January 2019).

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
Objectives and aims
Objects
Peak Art in the Black Mountains (operating as 'Peak' and 'Peak Cymru,) was established as a charity in 1992
under the name 'Arts Alive,. Our charitable objects are:
to benefit the communities of Wales (without distinction of sex or of political, religious, or other opinions) by
advancins education and providing facilities in the interests of social welfare for recreation and leisure-time
occupation with the object of improving the conditions of life.,
- to advance education and promote appreciation and involvement in the arts.
What we do
Peak Cymru was founded thirty years ago as an experimental creative spaca for children. It has evolved into
an organisation which collaborates with Young Peop18 (14-25 years), Artists and Intersenerational
Communities at our two sites in Southeast Wales - Platfform 2 at Abergavenny Train Station and The Old
School, Crickhowell - and from rural locations such as mountains, c8ves and canals. We work across the
Southeast Wales region including the Black Mountains, the Welsh Borders and Vale of Usk as well as
developing national and Intemational partnerships.
We celebrat8 the uniqu8 quallties of our region through programm8s whSch connect people and place. We
prioritlse cr05s-disciplinary ways of working, connecting our collaborators with diverse practitioners Including
eGologists, geologists. musicians, wrlters, gardeners and designers.
We offer time, space and resources, foregrounded in contemporary vlsual arts practices, for those lacking
cultural opportunities and facing additional barriers of mental ill-health, neurodivergence, 8nd low income.
We prioritise divérsity and Inclusion, working with different materials. practices and knowledg8 Systams,
exploring ways to live now and the cre8liv8 potential of living and working in rural contexts.
Strategic Aims
Work with, and for, Young People
Be a good neighbour
Support artist. curator + cross-disciplinary r8search
Root global conversations in the local
Celebrate the unique qualitie5 and ecologies of our region
Build f ield5 + be a catalyst for change
- Act ecological
Howwedoft
-we prioritise creating well-paid, supported and flexible working conditions for staff, artists, Young People
and collaborators we work with. We transfer resources directly to the Young Peopl8. offering paid bursaries
for tim8, travel and materials.
-We're committed to actively ensuring equity, access and diversity in our programme and organisational
structures. supporting people with diverse backgrounds, lived experiences and identities. We prioritise
climate justice for all species.
-we embrace Cymraeg across our programme, communications 2nd practlC8S With a lono-term vision to
embrace multilingual ways of working.
-We're committed to building income generation that is sustainable and holistically allgned with our mission
and values, from ethical future-facing sources.

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Why we do it
Wa believe:
artists build worlds and imagine and manifest n8w ways to live
- Young Peop18 are at the forefront of change; thay need support. solidarity and empowemient to do thé work
of the future
multiple ways of thinking, communicatlng, making and being ar& needed in a wotld where all sp8CieS thrive
Where we work
We work with individuals and communities across the county boundaries of Powys, Monmouthshire, Torfaen,
Blaena￿GWent and Merthyr Tydfil, wrapping around the length of Ihe river Usk, from:
Yr Hen Ysgol {The Old School) near the small town of Crug H￿1 in the 8recon Be8cons N8tional Park.
The site has a large and airy studio. kiln facilities, a community kitchen, Peak's offices and (currently in
development), a community garden. Preparing and sharing food together is valued by staff, partners and
collaborators, and is considered integral to hosting across our programmes.
Gorsaf Dr8nau'r Fenni (Abergavenny Train St8tlon) the last stop on the trainline into and out of Wales in the
town of Ab8rgavenny, on the busy Welsh Marches line (100,000 annual passenger joumeys from
Abergavenny). We have a reading room and studio space on Platfform 2 (direction Cardiff Centrall and are
d8veloping artist studlo spaces in the main station building in partnership with Transport for Wales.
Eln tirlun gwledig (Our rural landscape) where the complexilies of its geology, history. archaeology, ecology
and economy is the grounding for our work with partners and collaborators. A talk, a workshop, or a walk
might take us uphill onto the Iron Age hillfort of Crug 14ywel amongst kites, buzzards and wild horses, or
downhill to the rlver Usk or along the Monmouthshire & Br8con Canal.
Who we work with
Artists
Peak works wllh artists. Curators and cr88tive practitioners at 811 stages of career, especially those al the
beginning of developing their practi￿. We work with them in community settings., their work is responsive to
the distinctive context of bilingual, rural Wales at a time of ecological crisls. Peak, and the wider arts sector,
has a duty to ensure fair payment for artistlc 8xpertise, administration, meetings. ras8arch and production.
and to provide opportunities for training, clear organisational structures and support for access, health and
wellbeing.
Young People
'Nearly a quarter of young people are telling us that they will n8ver recover from the emotlonal impact of the
past two yaars, highlighting increasing feelings of anxiety. burn out and stress as negatively impacting their
wellbeing." (Johnathan Townsend. Chiaf Executive, The Prince's Trust).
The Prince's Trust Natwest Youth Index 2022 reflects the stark reality of how the pandemic has affected
Young People's m8ntal health knith 48 % experiencing a mental health problem. as well as havlng a negative
impact on their relationships and feelings about the future. These effects are amplified in the rural contexts in
which we work. Powys is the largest county in Wales and the most sparsely populated, with the highest
out-migration of 15-25 year olds (ONS Census 20211. Specific rural challenges faced by Young People
include social isolation, lack of access to seNices such as public transport, higher education and libraries,
unreliable broadband and mobile connectivity. P82k cannot 'gap fill, for this lack of support. however young
people tell us that our creative and inclusive social spaces offer acceptsnGe, friendship and open creative
outputs and have a positive impact on Young People's wellbeing. skills and careers development. The
intersecting forces of covid, the climate crisis and economic precarity underscore that Peak's creative
programme needs to 'Work with, and for, Young People,.

PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 026927701
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Rural Communities
Peak works with intergeneralional rural communities in the counlies of Powys (the Most sparsely populated
county in Wales), Monmouthshire and 'post- induslrial, Heads of the Valleys where over 50'k of land use is
non-urt)an. Research by the Joseph Rowntree Foundation has highlighted the high levels of deprivation in
rural areas, where people typically need to spend 10-20Yo more on everyday living than those in urban areas.
The biggest differ8nce is Ihe lack of access to public servicas and transport. social isolation, unaffordabl&
housing and unreliable digital connectivity. Peak is committed to making its sites opan, accessible and
welcoming spaces for intergeneralional communities. th8 development of a community garden at Yr Hen
Ysgol will enhance the site as an everyday Tesource for residents and neighbours.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees have considered th8 Charity Commission's guidance on public benefit and how our aclivity
meets the aims and objectives we have set for our artistic programme and for our organisation.
Overview
202&24 was a significant year for Peak Cymru as Chief Executive, Justine Wheatley, retired 8ft8r many
years of successfully leading the organisation. Towards Peak's new sirategic aims (Strategic Pl8n rewritten in
January 2023). Peak transitioned to a t￿leadershiP model. lad by Melissa Appleton ICo-Director Strategy
and Programme) and Louise Hobson {Co-Director Operations and Programme).
Arts Council Wales, Investment Review procesg awarded Peak Cymru inv8Stmenl funding of £76,811 per
annum (8 3Q/o reduction on Peak's previous agreement). Other notable funding awards included: multi-annual
support from Paul Hamlyn Foundation (2023-26), supporting a new Co-Director for Young People and paid
Young People's development roles., Strategic Priority Funding, 'Powys Making a Difference Fund, (2023-24)
managed by Powys Association of Voluntary Organisations (PAVO) to develop the first stage of a new
communty gardan at Peak's Old School site.
Towards its strategic aim of worklng with, and for, Young People, P8ak embedded programme strands
for Young People. Open Stiwdio (14-18 years) and Peak Peers 118-30 years), th8 latter supported by an
openly-recruited Peak Peers Curator, Ellen Wilson, wilh significant experi8nce in Youth Work.
Peak continued to support Wales, U.K. and Ireland-based artists and cur8lors through artist residencies at
Platfform 2, Peak's space at Abergavenny Train Station and as delivery partner on the Future Wales
Fellowship programme12023-251 and Jerwood Curatorial Accelerator programme (2023).
A new Community Coordinator role, underlaken by Polly Huntgr, transform8d Peak's Old School site,
embedding community partnerships and activity, increasing incomes from community hlres and initiating the
first stage of a new community garden.

PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Artistlc Programme Hlghlights
Young People
In 2023-24, Peak conlinued to embed its Young People's work across t￿0 strands Open Stiwdio (14-18
years) and Peak Peers (18-30 years). In November 2023 Peak was awarded Paul Hamlyn Funding lo create
Peak's first ever leadership role dedicated to Young People and funds to support p8id development roles for
YP and Youth Governance work. Recruitment for Co-Director: Young People & Programme was launched
early in 2024, with an appointment made in the next financial year. Applications and selected cohcrts across
Peak's YP programmes exceaded diversity targets across socio-aconomic factors, Global Majority identity
and disabilty. Strengthened by partnership working and establishing repeat progrsmmes across years.
Peak Peers (18-30 years)
Peak Pe8rs is Peak Cymru's keystone programme and central in refocusslng the organisation's work wlth
and for Young People. It is a developmeni programme invitlng Young People lo explore questions of climate
change. land rights, biodiversily and creativity rooted in the Black Mountains. The inaugural programm8
(developed from pilot Platfform H8f in 20221 took place across long weekends in October 2023 with a
group of 11 Young People, An open call attracted 37 applications including 600k of applicants from lower
socioeconomic backgrounds. 27'k who identify as disabled and 110/0 Wlth Global Majority identities. The
sélection panel induded two Young People who had previously tsk8n part in Peak programmes; selection
W8s carefully monitored to raflect tha same diversity in the cohort as demonstrated in applications. Every
participant r8ceived a bursary to cover their travel and expenses.
In part one, participants explored the deep time of the Usk Valley and learnt from agricultural practices and
intergenerational land stewarding projects. The programme included.. a walk with geologist Alan Bowring.
creative writing with poet Ta￿Or Edmonds: a visit to 'The Penpont Project., an intergenerational land
stewarding project near Brecon: exploring ideas of 'Water as Kin. with ecologist Fin Jordao., learning about
methodologies from organic farming with artist Phoebe Davies and farmer Polly Davies of Slade Fami
Organics,. watching artist Ma￿8 Arsanios, film, Who is Afraid of Ideology IV.. Reverse Shot., and exploring
relationships to land and place with Sophie Mak-shram. In part two, participants explored speculatlV8
storytelllng as a way to shift humen relationshlps with a planet in climate crisis. They created their own
wealher ststion with Open Weather, learning how to decode transmissions from satellites- vlsited the
L18ngattock E5carpmenl with artist Rebecca Jagoe, to think about language, animacy and time., met viith
Right to Roam campaigner and writer Jon Moses to discuss land ownership and access., and drew th8
programme to a Glose by hosting a day of Ihe dead celebration, led by one of the Peak Peers.
Most Signlficant Change evaluation activity (a new evaluation methodology for Peak) was undertaken in
November 2023 with external evaluator Jenny Peevers. The group reported significant changes including:
increased confidence in one's own cr8ative processes- expanded and shifting perspectives about relationship
to land: being moved and in awe of naturelfeeling more connected to the land and Ihe univ8rse' a safe space
to express oneself as a radical act in a capitslist society., and empowered to h8ve access lo different and
axpansive knowledges.
Opon Stiwdlo (1&18 years)
In July 2023 Peak hosted Open Stiwdio, a development from Criw Celf (2014-2020), an intensive
'masterclass' craative programme led by Peak as a oommission from Powys County Council and Arts
Council Wales. Over four days, a group of eight Young People from Monmouthshire and South Powys
worked with guest artists. writers and filmmakers. The programme included.. creating stories, maps and tools
lo imagin8 100 years into the futur8 With writer and artist Radha Patel,. pattern cutting and clothes making
with costume designer and artlst George H. Wale. filmm8king and editing with photographer and filmmaker
Zillah Bowes., sound and oral histories with sound artist Heledd C Evans.

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770}
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Artists
Bella Milroy Rèsldencyj In partnership with Arcadecampfa
In July 2023 Peak hosted Bella Milroy at Abergavenny Train Ststion jointly prograrnmed with Arcadecampfa.
Bella Milroy is an artist and wriler who works responsively through mediums of sculpture. drawing,
photography, text, writing, gardening and curating. Sh8 makes work about rnaking work (and being disabled)
and not being able to make work land being disabled). This process-based practice is fundamental to her as
disabled artist. She is continually motivated by concepts of public and private spaces and where the sick
andlor disabled body exists within them, themes which emerge throughout much of her work. Yellow Back
Books, a reading room and artist book shop project hosted Arcad8Campfa. hosted a con-current pop-up at
the staiion.
Toyosi Adenuga, Pegwn Artist Residency
Toyosi Adenuga spent a week in Abergav8nny in October 2023, selected through an Op8n Call process for
Peak's first Pegwn artist residency. Reflecting on the residency. Toyosi said. I've been curious about the
diasporic future of Yoruba and to what ext8nt knowledge of its language and culture is affected by
connections to particular spatial environments. Baing in dialogue with Pégwn's enquiry was room tc revisit
and also questionlchallenge certain ideas I had about the relationship belween home and land...The
residency was a reminder that my Yoruba identity exists within my Ire)memory, Its ways of knowing are
flexible and embodied within my being. Before the residency, I hadn't realised to what extent this was
embedded within my praclice and I'm discovering thal there's so much more., To close the residency. Toyosi
hosted a18nguage reclamation workshop, hosling a walk from Platfform 2 to the River Usk.
Sean Edwards
Following on from Sean Edwards, recent exhibition, FOR WHAT WE HAVE (part of The Common Guild's
'Anywhere in the Universe,, project centring the public library), Peak hosted S88n at Platfform 2, October
December 2023. In FOR WHAT WE HAVE, Sean made a series of small-scal8 sculptur8s designed, like
books, to b8 held In Ihe hand and clos8 to the body, ané to sit on the shelves of a Ilbrary. Considering the
library catalogue as a site for sculpture, each work was assigned a unique shelf mark and entered into the
Ilbrary sysiem. Through his residenGy with Peak, Sean continued researching the library as a space Imbued
with a subtle and enduring political consciousness. On Thursday 7th December, Sean Edwards was in
conversation with writer Jude Rodgers.
David Cleary
In February 2024 Peak hosted curator David Cleary at our Platfiorm 2 reading room, for a curatorial
residency supported by Jemood Arts. This residency followed on from Peak's participation as a host
organisation in Jerwood's Curatorial Ac￿leratOr Programme. David Claary is based in Ncrth Wales and his
curatorial practice seeks to improve access to cultural and natural spaces. During hi5 residency, David
undertook research towards the development of Conveyor - a nomadic arts initiative and curatorial platform
which seeks to support artislic collaboration with people and place in North Wales. David's research included
conversations wilh curators to consider entangled practices in relatlon to queemess, disability and
working-class cultures.
Future Wales Fellowshlp
In November 2023 Peak was selected via an open call to be the 8rts partner for the Future Wales Fellowship
programme 2024125, a partnership betW8en ACW, Natural Resources Wales, The Elan Valley Trust and
National Trust. The Fellowship supports eight Wales-based artists to develop research exploring the complex
relationship between humans. living species, place and clirnale. It aims to cultivate the relationship between
the arts and Ihe natural environment, as part of a shar8d commilment to improv8 the environmental and
cultural well-being of Wales. Peak's role is to develop and hosting a development programme combining
curatorial dialogu8, mentoring and support- including three resldential visits with gu8St practitioners basad at
partner sites. The first resldential took place in February 2024 at th8 Stackpole Estate. Pembrokeshire.

PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Jerwood Curatorlal A￿elerator (JCA)
JCA was a development programme, led by Jerwood Arts, for working-class early-career curators, combining
mentoring. online learning and tWOThday visits to seven visual arts organisations across the UK. Peak hosted
the group in May 2023 as one of the programme partners. We set out to share the processes, practices and
ways of working we support at Peak and hosted visits to several local landscapes and ecological siles.
Contributors included Kandace Siobhan Walker, Owen Griffiths, Alan Bowring and Penny Hallas. Further
information: httPS:Iljerwoodartsarchive.orglprogrammefJerwood-curatorial-acceleratorl
Interyenerational Rural Communities
Cultural Partnershlps
Peak partnered with Abergavenny Food Festival and The Angel Bakery for 2023's Abergavenny Community
Feast, held in Abergavenny Market Hall. Peak commissioned artist and gardener Gwenllian Spink to respond
to the Feast's theme of 'The Kitchen Garden,, with whom w8 previously collaborataé on last yearfs Pegwn
and Platfform Haf programmes. Gwenllian Spink responded ta the brief by looking to oral histories of folk
rernedies embodied in Welsh-speakins communities and produced an artist's edition of 350 works for the
fest tables.
Partnershlps and Communlty Resources at The Old School
Pottery for Wellbeing, a provislon delivered in partnership with Brecon & Dlstrict Mind continued at the Old
School,. th8 new Community Coordinator role, undertaken by Polly Hunter, d8veloped new community hires
and partnerships including Crafter's Café with Fathom Trust, an accessible weekly craft-based group based
at the Old School.
Our Plot
Peak was awarded funding through the Powys Sh8red Prosperity Grant Fund Scheme in Oclober 2023,
enabling the first phase in our plan to develop the Old School yard into a community gardenlaccessible green
space. In early 2024. we worked with Peek Peers alumni <18-3Q years) and invited guests to establish
series of pemiaculture principle for the sit8 and programme which will act as a framework for work with
differ8nt groups across 2024-25. Planning was undertaken for Our Plot, a new residents drop-in gardening
and creative group, anchored around a new community garden at the Old School and PlaylGround, a new
programme for Young People114-18 years) offering design, horticultural and creatlV8 activities and shaping
the future development of the garden.

PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Organlsational Activity
Intemal Context
Co-Leadership Model
During 2023-24, the Peak team transitioned to a C￿leaderShip model following the resignation of Executive
Director Justine Wheatley after 144 years in the role working towards greater diversity in the leadership
team. In Summer 2023 Melissa Appleton transitioned from her role as Director of Programme to CowDirector
(strategy and programme) and Louise Hobson from Deputy Director to Co-Director {operations and
programme)- In late 2023. Peak received confirmation of Paul Hamlyn Foundation and Art Fund funding.
underpinning a third Co-Director role for Young People and Programme. Recruitment planning was
undartaken in late 2023 and a widely shared open call launched in early 2024 for Co-Director IYP and
Programme).
Governance
Peak undertook a review of the Board and a recruitment process In 2022-23, recruiting three new Boarcl
members. These Board members bedded-in in 2023-24. Through this process Peak strengthened skills and
experience within its leadership and management, and new Board Mambers actively engaged in recruitment,
programmes and training as and wh8r8 appropriat8. Abby Poulson stepped down as a member of the Board
at the AGM in November 2023.
-Further recruitment is planned for 2024-26 with two new locally-based trust88S Wlth wide experience in food
systems, sustalnability and business approached at the end of 2Q23-24 being appoinled at Peak's AGM,
October 2024.
-Further diversity-focused board recTUitment is planned from 2025126. acknowledging the need to further
expand the breadth of lived experiencas engaged in future decision making.
-Paul Hamlyn Foundation support will enable development of Peak's YP governance in 2024125, underpinned
by the incoming Co-Dir8Ctor (Young People & Programrne).
Communlty Coordlnator Role
A new role of Community Coordinator (recruited In May 2023) strengthened snd initiated new community
partnerships (including Mind, Credu, The Fathom Trust ané local wellbeing providers), expanded
ntergeneralional community use for wellbeing whilst increasing earned income from hires, and planned
community garden pilot project and associated creative programme at Peak's Old School sit8 for the benefit
of local people, acting as a hub for future trans-dlsciplinary and cross-border programming.
S¢¢tor Contributlon
-Louise Hobson was selected to take part in a-n Curator Bursaries.. Exploring Northern Ireland 2024.
Designed to encourage UK-wide exchange and collaboration, a-n Curator Bursaries.. Exploring Northem
Ireland 2024 will connect curatots with artists and colleagues in Belfast and DerrylLondondery, opening
opportunities for18arning and exchang8.
-melissa Appleton, Loulse Hobson and Justine Wheatley attended the opening of Liverpool Biennale 2023.
meeting artist-led ané rurally-based organisations at this key regional event.
-melissa Appleton undertook de Appel's Guralorial Rese8rch Fellowship 2023124, a legacy of the Curatorial
Programme 2022 and was part of the selection committee that selected John Akomfrah for the British
Pavilion. L8 Biennale di Venezia 2024.
External Context
Cost-of-livlng Pressures
Cost-of-living increases centinue to impact P8ak staff and collaborators wilh daily rural living costs averaging
20°/o higher than urban communities. To help address this, Peak implem8nt8d practical measuros including a
6% employed staff pay increase. 25'k freelance day rate rate increase and increased Young People's
bursaries across programmes.

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THETRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Young People's Mental Health & Climate Anxlety
Young People conlinu8 ta experience profound impacts as a legacy of the pandemic, reinforced by
deepening climate anxiety. A high percentage of programm8 applicants disclosed social anxiety and mentsl
health conditions. shaping decisions around programme structures. partnerships, contenl 8nd governance.
Our evaluation indicates that Peak's programmas have positlV8 impact as friendly. supportive and inclusive
spaces, in communities with limited work, education and cultural opportunities and often without statutory
youth provision.
Transport for Wales (fFW) Partnership - spaces at Gorsaf Y Fenni (Abergavenny Traln Station)
Complex external relationships between Nebmork Rall ané TFW have continued to preven progress on
realising affordable station-based studio spaces at Y Fenni Train Station but we￿8 Plvoted to provision al our
Old School site and are exploring other options for accessible, sust8in8ble rural studio Spa￿ options. We
continue to advocate for future studio provision at Abergavenny station through our positive ongoing
relationships with TFW leadership and local staff. A new passenger lift. opening in early 2025, will unlock
future potential,
FINANCIAL REVIEW
Financlal position
In 2023124 Peak received £279,143 of statutory funding and incom8 from trusts and foundations. This
includes multi-annual funders.. £120,156 from Arts Council of Wales (including £76,811 investment funding
2023-27),. £60,000 from Paul Hamlyn Foundalion {2023-27)', £30,000 core funding from Esmée Falrbairn
Foundation (2022-24),. £22,500 from ArtFund12023-25)- and further project-based grants from Ashley Famlly
Foundation. National Lottery Awards for All and Powys Associatlon of Voluntary Organisations. Peak
receiv8d further income from partnershiplhost contracts including the 'Future Wales Fellowship,, 'Jerwood
Curatorial Accelerator Programme, and Disability Arts Cymru's 'Cr8ativity is Mistakes, and income from hire
of Peak's spaces increased dramatically due to the new Community Coordinator Rol8 to oversee hires and
altemative income generation.
Total incoming resources recognised in the year ended 31 March 2024 wer8 £305.022 (2023: £260,467). Of
thls, £279,143 (2023.. £245,135) derived from cor8 grants and income for specific projects of which £128,987
{2023: £126,010) is shown in the Statement of Financial Activities as Restricted Funds. Incom8 of £14,755
(2023: £11.152) was earned from running commissioned projects. Rental income from lettings during the
year was £8.133 {2023'. £2,895). There was a defirAt on unreslricted funds of £300 (2023.. £17,303 surplus) in
the period.
Pricing Pollcy
Our pricing policy reflects Peak's values and aims to enable those wlth least access to participate in the arts.
During the year under review. all activities, events and publications were offered for free. Bursaries were
available lor Young People to support access and travel costs.
Volunte6rs
Peak continues to rely on the generosity and skills of volunteers and support from Partner organisations
which in 2023-24 included Transport for Wales, Brecon & District MIND. Powys County Council and Bannau
Brycheiniog Naticnal Park Aulhority.
Reserves pollcy
Th8 Board has examined the major stralegic business and operational risks to which the charity is exposed
and determined Ihe charity's requirement for reserves in the light of these risks. The Board aims lo maintain
an unrestricted funds reserve level of approximalely £35,000, representing over threa months. running costs.
Tha fr8e reserves of the charity al the year-end were £91,779 {2023: £89,495). Monitoring will continue on a
quarterly basis to consider the extent lo which activities and expenditure might be curtailed, should a situation
arise where funds were no longer available.

PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
FUTURE PLANS
Work with, and for, Young People
-In Quarter 4 of 2022-23 Peak leadership rewrote Peak's strategic plan around seven strategic aims, aligned
with Wales, Wellbeing of Fulure Generations Act. These includeé 'Work with, and for, YoLJng People,, looking
ahead to 3 10-year vision that the organisalion is st8ered by Young People.
-In 2023-24, we underpinned this key strategic aim by successfully fundraising to support a CowDirector
dedicated to Young People and launched a racruitment process in Q4 of 2023-24. In 2024-25, this new rola
will be embedded with a focus on.. developing Peak's key programme strands for Young People, facilitating a
pilot phase for Youth Voice and Governance mechanisms and craating Peak's Youlh People's Strategic Plan.
-A dedicated Young CuratorlProducer will be supporteé by Paul Hamlyn Foundation funding in 2023-24.
providing vitally-needed arts development and curatorial roles in Southeast Wales.
-After increasing the upper age limit of Peak's Young People's work to 30 years be￿een 2020-23 la decision
made in dialogue with key funders recognising th8 impact of the covid pand8mic), Peak's Young People's
programmes will relurn to an upper age limit of 25 years to allow for development of 25 years+ programmes
for artists.
Organisational Structure & Co-Leadership Model
-Peak is committed to realising a flatter-organisational modal to ensure greater diversity in its organisational
and leadership structure. Underpinned by successful fundraising from Paul Ham1￿ Foundation and ArtFund
in 2023-24. Ihe Co-Dir8Ctor for Young People role was appointeé in Q4 of 2023-24 and will commence the
role in Q12024-25.
-Fundraising was undertaken in 2023-24 to continue and enhance the Community Coordinalor role which has
had a positive impact on Peak's work during the 6-month pilot phase,. we anticipate further increases in
earned income, strengthened community partnerships and the further activation of Peak's Old Schocl site as
a result of continuing this role.
Peak Sites as Community Resources
-Building on the impact Of the Community Coordinator role. Strategic Priority Funding will klckstart the first
phase of Peak's community garden at the Old School. working with Young People, artists and
Intergenerational residents and partners towards the realisatian of 8 bicdiverse and thriving spaces. The
community garden will be used as practical lens and learning tool for developing Peak's Environmental Plan.
Equalltles & Welsh Languaga work
-Peak sets and monitors targets to widen the diversity of board, slaff and collaborators through our Strategic
Equalities Action Plan and our Anli-Racism plan (reviewed annually) and through 8dopiing 8 Co-Leadership
model and an ecosyst8m of paid opportunities for Young People.
-w8 will continue to embr8ce the creative potential of bilingual working practices across Cymraeg and
English via our Cynllun laith Gymraeg I Welsh Language Plan. To embed the voices of artists into our
programme, Peak continues to support a Welsh Language programme 'Pegwn', supporting Welsh-speaking
artlsts, writers and activists. In 2024-25 P8ak will host an intensive Pegwn residency for elght Wales-based
artists and creative practitioners exploring language in their work. this will also creale an opportunity for an
inlernational curator to design the programme
STRUCTURE, GOVERNANCE AND MANAGEMENT
Gov8rnlng document
Paak - Art in the Black Mountsins Ltd is 8 company limited by guarantee governed by its Memorandum and
Articles of Association inGorporated on 2 March 1992 and registered as a charity with Ihe Charity
Commission on 3 June 1992. Each board mémber agrees to contribute an amount not exceeding £1 in the
8vent of Ihe charity winding up.
-10-

PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity constitutlon
The Directors of the Company are also charity trustees for Ihe purposes of charity law. Under the compantys
Arlicjes, the Trustee Directors are known as members of the Board. Peak's Board has a maximum
membership of eleven who are appointed by the company in gener81 meeting.They serve for an initial period
of five years, which may be extended by a further ￿0-year temi. The Board may co-opt not more than four
individuals nead not b8 members of tha Company and may speak but not vct8 at Board meetings.
Co-opted Members retire at the next Annual General Meeting but may be COwOPted again by the newly
elected Board.
R&cruftment and appolntmont of new trustees
The Board audits th8 skills and contributions of ils trustees. It identifies and recruits new trusteés openly
through public advertisement to fill any skill gaps or vacancies that arise. Applications from potential trustees
are reviewed by the Board and new Board members are appointed at the AGM. Addilional Board rnembers
may be 8ppointed to the Board during the year to fill casual vacanci8S, Wlth the agreement of the trustees.
Organisatlonal structurn
The Board meets four limes a year and is responsible for the strategic direction and policy of Peak. Day to
day running of Peak is delegated to Peak's stsff team. In 2023124 CowDirectors, M81issa Appleton (Strategy
and Programme) and Louise Hobson (Operations and Programme) led the company and reported to the
Board.
A collaborative approach to Peak's strategic and creative direction was supported throughout th8 year by
freelance staff. Ellen Wilson (Peak Peers Curator) and Polly Hunter (Community Coordinator) and
Associates Owen Griffiths, D￿an Huw, Esyllt Lewis and Sophie Mak-schram. Financa officer Hannah
Griffiths continued to provide financial 8UPPOrt alongside a pool of tslented and experienced fr8elanc8
practitioners, who are contracted to work on projects and commlssions.
Key managoment remuneration
The Trust88 Directors consider that the key management personnel, who are responsible for directing,
controlling, runnlng and operating Peak on a day-to-day basis, comprise the Board of Trustees and the
senior management team. Trustees gave thelr lime freely éuring the year under review, receiving no
remuneration for their services.
Peak's leadership team salaries are reviewed annually, and 8ny pay rises are determined following annual
appraisal. Peak offers at least 'real living wage, rales to everyone it works with and has accreditstion from the
Living Wage Foundation. Peak publishes a Pay Policy. including Young People's Pay Policy, on its websile
which also sets a ratio betW88n the highest and lowest paid in tha organisation and reviews freelance pay
rates annually.
Related partles
None of our trustee5 receive remuneration or other benefit from their work with the charity and no related
party transactions were reported in Ihe year.

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER= 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
Peak, in common with all charities, faces a level of risk across its activities. Risk assessment is embedded
within the organisation, including th& building of contingencies intc budgets. and all our activities are
rigorously risk assassed. In accordance with good practice guidelines from the Charity Ccmmission. the
trustees identify, assess and monitor operational risks in the following areas: personnel, venue. finance,
extemal and compliance risks.
The trustees, risk management strategy involves..
quarterly rlsk reviews embedded into operation reports
annual internal control review. in line with Charity Commission ouid81ines
tha establishmant of policies. systems and procedures to mitigate any identified risks arising from annual
review
management accountlng systems which id8ntify and manage our key financial risks
standing items on board meeting agendas including safeguarding updales and reporting
The trustees also recognise that Peak, in common with all arts organisations, faces (and embraces) artistic
risk in relation to its artistlc programming, partlcularly in a rural 8rea where the cultural offer is limited and
0ft8n traditional. It therefore monitors artistic risks in relation to the repulation of the organisation and the
artist by invesling in careful researGh, discussion with partners and funders. consultation with artists and dear
public communication.
REFERENCE ANO ADMINISTRATIVE DETAILS
Registered Company number
02692770 (England and W81es)
Registered Charity numbor
1011599
Registered office
The Old School
8r8con Road
Crickhowell
Powys
NP8 1DG
Trustee8
S M Allen (Chairl
J H Allen
MCNLord
L A Shipp
A K Poulson (resigned 1,12.23)
M J Hinkin
Dr C R Ellis-Jones
Independent Examiner
Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE
-12-

PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBEFL. 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
This report has been prepared In accordance with the special provislons of Part 15 of the Companies Act
2006 relating to small comp8nies.
Approved ty order of Ihe boaffl of Irustees on ....
and signed on tts behaK by:
iGi(airj- Trustee
S M Allen

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
PEAK- ART IN THE BLACK MOUNTAINS LTD
Independent examinerfs report to the trustees of Peak Art in the Black Mountains Ltd ('the
Company.)
I report lo the charity trustees on my examination of the accounts of the Company for the year ended
31 March 2024.
Responsibilities and basis of rèport
As the charity's trustees of the Company (and also lis directors for Ihe purposes of company lawl you are
responsible for tha preparation of the accounts in accordance with the requirements of the Companies Act
20061'th8 2006 Act,).
Having satisfied myself that the accounts of the Company are not requir8d to be audited under Part 16 of the
2006 Act and are eligible for independént 8xamination, I report in respect of my examination of your charitys
accounts as carried out under Section 145 of the Charities Act 2011 I'lhe 2011 Act,). In carrying out my
examination I have followed the Directions given by the Charity Commission under Section 14515) Ib) of the
2011 Act.
Independent 8xamlnerfs statement
Since your charitys gross income exceeded £250,000 your examiner must be a member of a listed body. I
can confirm that l am qualifi8d to undertake the examination because l am a member of the Institute of
Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my 8ttentlon In connection with the
examination giving me cause to b8li8ve'.
accounting records were not kept in respect of the Cornpany as required by Section 386 of the 2006
the accounts do not accord with those records: or
the accounts do not comply with the accounting requirements of Seclion 396 of tha 2006 Act other
than any requirement that the accounts give a true and fair view which is not a matter considered as
part of an independent examination., or
the accounts have not been prepared in accordance with the methods and prlnciples of the Statement
of Recommended Practice for accounting and reporting by charities (applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to anab18 8 proper undarstanding of the accounts to be
reached.
J E Payne ACA
Graham Paul Limited
Court House
Court Road
Bridgend
CF311BE
6 December 2024
-14-

PEAK - ART IN THE BLACK MOUNTAINS LTD
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restrict8d
funds
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
385
Charitable activitles
Commissions and consultancy
Charitable Activities
4,755
150,156
10.000
128,987
14,755
279,143
11,152
245,135
Other trading activities
Investment income
other income
8,133
2.367
624
8.133
2,367
624
2,895
900
Total
166,035
138.987
305,022
260,467
EXPENDITURE ON
Raising funds
4,500
4,500
4,243
Charltable actlv6tles
Charitable Activities
161,835
51,623
213,458
229.825
Total
186,335
51,623
217,958
234,068
NET INCOMEI(EXPENDITURE
1300)
87,364
87.064
26,399
RECONCILIATION OF FUNDS
Total funds brought forward
89,495
23,159
112,654
86,255
TOTAL FUNDS CARRIED FORWARD
89,195
110,523
199,718
112,654
The notes form part of these financial ststements
-15-

PEAK- ARTIN THE BLACK MOUNTAINS LTD (REGISTERED NUM8EII. 02692Tro)
BALANCE SHEEr
31 MARCH 2024
2024
Total
funds
2023
T(Aal
funds
Unrestricted Restricted
funds
funds
Notes
CURRENT ASSETS
Debtors
Cash in hand
16
12,248
102,048
12,248
212.571
22.537
102,040
110.523
114.296
110,523
224,819
124,577
CREDITORS
Amounts falling due wthln year
17
(25,101)
(25.101 }
(11,923)
NEf CURRENT ASSETS
89,195
110,523
199.718
112,654
TOTAL ASSETS LESS CURRENT
LIABILMES
89,195
110,523
199,718
112,654
NEf ASSErs
89,195
110,523
199,718
112,654
FUNDS
Vnrestrlcted funds
Restricted funds
18
89,195
110,523
89.495
23,159
TOTAL FUNDS
199,718
112.654
The charftable company is entltted lo axemption from audlt under Sedlon 477 of ihe CompanSeg Act 2006 for
Ihe year ended 31 March 2024.
Th8 members have not required the company to Lthin an audit of ils financial ststhents for the year ended
31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The Injstees a¢*nowledg8 thelr responsibilrlies for
{a)
ensuring that the ch8ritalle company keeps accountlng rewrds that comply with SectSons 386 and
387 of the Companies Act 2006 and
preparing financial slatements which glve a true and fair vithv of the stale of affairs of the chafilable
company as at the end of each financlal year and of its surplus or deficit for each financ481 year in
accThdance with the requlrements of Sedlons 394 and 395 and which otheTY•ise comply with ihe
requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the
chajltabk company.
These financlal slalements have been prepared in aC￿rdan￿ wilh the provislons applicable to ¢harilable
mpanies subject to Ihe small companies regim8.
The financtal statements were approved by Ihe Board of Trustees and 8uthorised for issue on
and were signed on its behalf by:
(b)
Thp. nnlpq Inm) nArt nf IhpqA finanp,iAI *PAtAmp.nl<

PEAK - ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CHARITY INFORMATION
Peak - Art in the Black Mountains Lid is a private company limitod by guarantee incorpor8ted in
England and W818s. The registered office is The Olé School, Brecon Road, Crickhowell, Powys NP8
1 DG, United Kingdom.
ACCOUNTING POLICIES
Basis of preparing th• flnancial statements
The financial statements of the charitable company, which is a public b8nefit entity under FRS 102.
have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial R8POrting Standard applicable in the UK and Republic of Ireland (FRS
102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland. and Ihe Companies Act 2006. The financial statements
have been prepared under the historical cost convention.
The financlal statements are prepared in sterling, which is the functional currency of the charity.
Monetary amounts in th8se financial statements are rounded to the nearest £.
At the time of approving th8 financial statements, the trustees have a reasonable exp8Ctation that the
charity has adequate resources to continue in operational existence for the foreseeable future. Thus
the trustees continue to adopt the going conc8rn basls of accounting in preparing the financial
statements.
Income
Income is recognlsed when the charity is legally entitled to it aftar any performance conditions have
been met, the amounts can be measured reliably, and it is probable that income will b8 receivad.
Cash donations ar8 recognised on receipt. Other donatlons are recognised once the charity has ba8n
notified of the donation, unless performance conditlons require deferral of th8 amount. Income tax
recoverable in relation to donations received under gift Aid or deeds of covenant is recognised at the
time of the donation.
In the case of performance related grants, income must only be recognised to Ihe extent that the
charity has provided the specified goods or services as 8nlitlement to the grant only occur8 when the
performance related conditions are met.
Unrestrictsd grants ar8 r8cognised wh8n recelved.
Income from rental is invoiced and recognised in th8 period lo which the rentsl was provided,
Income from classes is recognised when the class is attended.
Income from fundraising events is recognis8d when the Income is reGeived.
Bank interest is induded is in the accounts whén receipt is probable and the amount receivable can b8
measured reliably.
Expenditure
Expenditure is recognised once there is a legal or conslruclive obligation to make a payment to a third
party. it is probable that settlement will be required and the amounl of th8 obligation can be measured
reliably.
Costs of raislng funds comprise Ihe costs in relalion to generating incorne such as fundraising
activities and primarily relates to costs associated with the art auction.
-17-
continued...

PEAK. ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES - continued
Expenditure
Expenditure on charitsble activities includes all costs relating to the furtherance of th8 charitys
objective5 as stated in the Irust8es report and their associated support costs.
Support costs have been allocated ba￿een govemance cosls and other support. Govemance costs
comprise all costs involving public accounlability of the charity and its compliance with regulation and
good practice.
Tangible flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at Cost or valuation,
net of depreciation end any impairment losses.
Depreciation is recognised so as to wrlte off the cost or valuation of assets less thelr residual values
over their useful lives on Ihe following bases:
Plant and equipment
20V/o Straight line
The gain or loss arlslng on the disposal of an asset is determined as the difference be￿een the sale
proceeds and the carrying value of the assel and Is recagni5ed in the slalement of fin8nci81 activities.
Taxatlon
The Gharity is exempt from corporation tax on Its charitable activities.
Fund accounting
Unrestricted funds are av8ilable for use at the discretion of the trustees in furtherance of their
charitable objeGtives.
Designat8d funds are those which have been set aside at the discretion of Ihe trustees for speclfic
purposes. The purpos8s and uses of the designated funds are set out in the notes to the financial
stat8ments.
Restricted funds ar8 subject to specific conditions by donors as to how they may be used. The
purposes and uses of the restricted funds ar8 set out in the notes to the financial statemants.
Furthar explanation of the nature end purpose of each fund is included in the not8S to the financial
statements.
Pension costs and olher post-retlrement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to
th8 charitable ccmpany's pension scheme ar8 charged to the Ststemenl of Financlal Activities in the
period to which they relate.
Impaimient of fixed assets
At each reporting end date, Ihe charity reviews the carrying amounts of its tangible assets to
detennine whether there is any indication that those assets have suffered an impairment loss. If any
such indication exists, the recoverable amount of the asset is estimated in order lo determine the
ext8nt of Ihe impaimient loss (if any)-
Cash and cash equlvalents
Cash and cash equivalents indude cash in hand, deposits held at call wilh banks, other short-term
liquid Investmenls with original maturities of three months or less, bank overdrafts. Bank overdrafts
are shown within borrowings in current liabilities.
Flnancial Instruments
-18-
continued...

PEAK - ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES- continued
Th8 charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section
12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial Instruments are r8cognised in the charIt￿S balance sheet when the charity b8comes party to
the contractual provisions of the instrument.
Financial instruments and liabilities are offset, with the net amounts presented in the financial
statements, when Ihere is a legally enforc8able right to sét off the recognised amounts and there is an
intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Baslc financial assets
Basic financial assets, which include debtors and cash bank b818nces, are initlally measure at
transaction price including transaction transaction costs and are subsequently carried at amortised
cost using the effectiv8 interest method unless the arrangement constitutes a financing transaction,
where the transaction is measured at the present value of the future receipts discounted at a market
rate of Interest. Financial 8SS8ts classified as receivable within one year ara not amortised.
Derecognition of financlal assets
Financial assets are derecognised only when the contractual rlghts to the cash flows from the asset
expire or are settled, or when th8 charity transf8rs the financial asset and substantially all th8 risks and
rewards of cwnership to another entity, or if some significant risks and r8ward of ownership are
retained but control of the asset has transferred to another party that is able to sell the asset in its
entirety to an unrelated third party.
Basic financlal liabilities
Basic financial liabilities, including creditors are initially recognisad at transactlon price unless the
arrangement Gonstitules a financial trans8Ction, where the debt Instrument is measured at the present
value of the future payments discounted at a market rale of inter8St. Financial liabilitles classifled as
payable within one year are not amortiS8d.
Debt instruments are subsequently carried at 8mortised cost, using the effectSve interest rale method.
Trade creditors are obligalions to pay for goods or servlces that have been acquir8d in th8 ordinary
course of operations from suppllers. Amounts payable are dassified as current liabilities if payment is
due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are
recognlsed initially at transaction price and subsequently measured at amortised cost using the
effectiv8 interest method.
Derecognltlon of financlal Ilabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are
discharged or cancelled.
Employeo benefEt8
The cost of any unus8d holiday enlitlement Is recognised in Ihe period in ￿lch the employee's
services are raceived.
Termination benefits 8r8 recognised immediately as an expens8 when the charity is demonstrably
committed to terminate the employment of an employee or lo provide termlnation benefits.
Retlrement ben8flts
Payments lo defined conlrlbution retirement benefit schemes are charged as an expense as they fall
due.
Leases
Rental charges are charged on a straight line basis over Ihe term of the lease.
-19-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2024
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the charitvs accounting policies, the trustees 8re required to make judgements,
estimates and assumptions about the carrwng amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
eslimates.
The estimates and underlying assumption5 are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in th8 period in which the estimate is revised where the revision
affects only that period, or in the period of the revision and future p8riods wher& the revision affects
both currènt and future periods.
DONATIONS AND LEGACIES
2024
2023
Donations
385
OTHER TRADING ACTMTIES
2024
2023
Renlal from hires
8,133
2,895
INVESTMENT INCOME
2024
2023
Deposlt account interest
2,367
900
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Activity
Commissions &
consultancy
Gran18
Commissions and consullancy
Charftsble Activities
14,755
279.143
11,152
245,135
293.898
256.287
Grants rec8ived, included in the above, are as follows:
2024
2023
Crlw Celf
Arts Council of Wal8S
Esmee Fairbairn Foundation
National Lottery Awards for all Wales
Powys County Council
Art Fund
Colwinslon Charitable Trust
Ashley Family Foundation
DAC
29,550
168,085
36,000
120,156
30,000
19,000
1,000
500
10,000
22,500
10,000
2,500
Carried fO￿ard
204,156
245.135
-20-
continued...

PEAK - ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
INCOME FROM CHARITABLE ACTIVITIES - continued
2024
2023
Brought fO￿ard
Powys Association of Voluntary Organisations
Paul Hamlyn Foundation
204.156
14,987
60.000
245,135
279,143
245,135
OTHER INCOME
2024
2023
Other Income
624
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 10)
Support
costs (see
note11)
Totals
Charitsble Activities
199,674
13,784
213,458
10.
DIRECT COSTS OF CHARITABLE ACTIVITIES
2024
2023
Staff costs
Light and heat
Telephone
Postage and stationery
Sundri8S
Project costs
Rent & insurance
Travel
Maintenanc8 & general building costs
Professional fees
Core acllvity costs
staff Training
Translation costs
Venue Costs
IT Costs
Rates
81,688
2,658
993
1,774
2,790
90,504
2,201
862
6,625
488
2,255
530
1,347
708
3,937
314
90,928
3,016
976
767
903
92,840
1,665
313
6,598
8,159
1,915
359
93
254
7,711
388
199,674
216,885
-21-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 MARCH 2024
11. SUPPORT COSTS
Management
Finance
Totals
Charitable Aclivities
13,508
276
13,784
12. NET INCOMEIIEXPENDITURE)
Net incomel(expenditur8) is stat8d after charging1(￿editing).
2024
2023
DefiGIt on disposal of fixed assets
3,040
13. TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for th8 year anded 31 March 2024 nor for Ihe
year anded 31 March 2023,
Trustees, expenses
There were no trust888' expenses paid for the year ended 31 March 2024 nor for the year ended
31 March 2023.
14. EMPLOYEES & STAFF COSTS
2024
2023
Wages and salarles
Social security Gosts
Other pension costa
77,735
2,793
1,160
86,421
2,392
2,115
81,688
90,928
The average rncnthly numb8r of employees durlng the year was as follows:
2024
2023
Management & administration
No employ8es received emoluments in excess of £60,000.
The key management personnel as detsiled in the Iruslees report received remuneration consisting of
gross salary. employers nalional insurance contributions and employers pension contribulions tot811ing
£63,448. (2023 £36,446).
-22-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
15.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
Restricled
funds
Totsl
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
385
385
Charitable activities
Commissions and consultancy
Charitable Aclivitl8S
1,162
119,125
9,990
126,010
11.152
245,135
Other trading activities
Investment Income
2,895
900
2,895
900
Total
124,467
136,000
260,467
EXPENDITURE ON
Raising funds
4,243
4,243
Charltable actlvltSes
Charitable Activilies
101,762
128,063
229,825
Toial
106.005
128,063
234,068
NET INCOME
Transfers between funds
18,462
(1,159)
7,937
1,159
26,399
Net movement in funds
17,303
9,096
26,399
RECONCILIATION OF FUNDS
Total funds brought fO￿ard
72,192
14,063
86,255
TOTAL FUNDS CARRIED FORWARD
89,495
23,159
112,654
16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade d8btors
Prepayments and accrued Income
3,216
9,032
21,086
1,451
12,248
22,537
-23-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2024
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Tr8de creditors
Social security and other taxes
Olh8r cr8ditors
Accrued expenses
8,894
1,610
8,047
6,550
4,062
2.867
394
4,600
25,101
11,923
18. MOVEMENT IN FUNDS
Net
movement
In funds
At
31.3.24
At 1.4.23
Unregtrfcted funds
General fund
89,495
(300)
89.195
Restrided funds
Art Fund
National Lottery Awards for All Wales
Arts Council of Wales- Casgleb
Colwinston Charitable Foundation
M8ntal Health Pottery Groups
Paul Hamlyn Foundation
Ashley Family Foundation
Arts Council of Wales Futur8 Wal8S
Fellowshlp
22,500
18,921
(12,000)
(10,000)
22,500
18,921
12,000
10,000
1,159
1,159
56,778
8.581
56,778
8,581
2,584
2,584
23,159
87,364
110,523
TOTAL FUNDS
112,654
87,064
199,718
-24-
continued...

PEAK - ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
18.
MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows-
Incoming
resources
Resources
expand8d
Movemant
in funds
Unrestrlcted funds
General fund
166,035
(166,335)
(300)
Restricted funds
Art Fund
National Lottery Awards for All Wal88
Arts Council ofWales- Casgleb
Colwinston Charitable Foundation
Paul Hamlyn Foundation
Ashley Family Foundation
DAC
Powys Association of Vcluntsry
Organisations
Arts Council of Wales Future Wales
Fellowship
22,500
19,000
22,500
18,921
(12,000)
(10,000)
56,778
8,581
179)
(12,000)
(10,000)
(3,222)
(1,419)
{2,500)
60,000
10,000
2,500
14.987
(14.987)
10,000
(7,416)
2,584
138,987
(51,623)
87,364
TOTAL FUNDS
305,022
1217,9581
87,064
Comparatlves for movement in funds
Net
movement
in funds
Transfers
between
funds
At
31.3.23
At 1.4.22
Unrastrlcted funds
General fund
Fixed Asset Fund
69,152
3,040
18,462
1.881
{3,040)
89.495
72,192
18,462
(1,159)
89,495
Restrlcted funds
Scops Arts Trust
Arts Council of Wales- Covld
Recovery 2
Arts Council of Wales - Covid
Recovery 3
Arts Council of Wales - Casgleb
Powys County Council - Criw Celf 2023
Colwinston Charitsble Foundation
Mental Health Pottery Groups
4,627
(4,627)
1,525
(1,525)
2,909
5,002
<2,909)
(5,002)
12.000
10,000
12,000
10,000
1,159
1,159
14,063
7,937
1,159
23,159
TOTAL FUNDS
86.255
26,399
112,654
-25-
continued..

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - eontlnued
FOR THE YEAR ENDED 31 MARCH 2024
18.
MOVEMENT IN FUNDS - contlnued
Comparative net movement in funds, induded in Ihe above are as follows:
Incoming
resources
Resources
expended
Movemant
in funds
Unrestrlded funds
General fund
124.467
(106,005)
18,462
Rastrlcted funds
Scops Arts Trust
Arts Council of Wales- Covid
R8covery 2
Arts Council of Wales- Covid
R6cov8ry 3
Arts Council of Wales - Casglab
Jonathan Ruff8r Award
Awards for All - Pottery
Powys County Council - Criw Celf 2022
Powys County Council - Crlw Celf 2023
Colwinston Charitable Foundation
{4,627)
14,627)
1,268
(2,793)
11,525}
12,909)
(89,694)
{500)
(9,990)
(15,075)
(2,475)
12,909)
15,002)
84,692
500
9,990
15,075
14,475
10,000
12,000
10,000
136,000
(128,063)
7,937
TOTAL FUNDS
260.467
1234,068)
26,399
Art Fund - funding contribution towards 'Co4irector Young People & Programme role, {2 year funding
aw£rd).
National Lottery Awards for All Wales - fundlng tha Inltlal stages of developlng a community garden
at Peak's Old School site.
Arts Council of Wales - Casgleb - supporting collaborative research with young people and artists.
Colwlnston Charitable Trust was received to fund art programmes for young people aged 18-30
years.
Mental Health Pottery these represent funds donated towards mental health pottery activities
(MIND Groups).
Paul Hamlyn Foundatlon
funding of 'Co-director Young People & Programme, role, paid
development roles for Young People and data and evaluation work (3 funding award).
Ashley Family Foundatlon
funding of practitionar fees and materials for PlaylGround 2023-24,
Peak's creative studio programme for 14-18 y8ar olds.
Arts Councll of Wales - Future Wales Fellowship - contract to 5UPPOrt the Future Wales Fellowship
as arts partner {18 month programme).
-26-
ccntinued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2024
19.
EMPLOYEE BENEFIT OBLIGATIONS
Defined contribution schemes
The charity operates a defined contribution pension scheme for all qualifying employee. The assets of
lh8 schema are held sep2rat8ly from those of the charity in an independently administered fund.
The charge to profit or loss in respect contribution schemes was £1,160 (2023: £2,115). There wera
amounts outstanding of £Nil (2023:£Nil) at the year end.
20. RELATED PARTY DISCLOSURES
There were no related p8ty transactions for the year ended 31 March 2024.
-27-