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 2025
FOR
PEAK- ART IN THE BLACK MOUNTAINS LTD
(A COMPANY LIMITED BY GUARANTEE)
Xeinadin South Wales and West Limited
Court House
Court Road
Bridgend
CF31 1BE

PEAK- ART IN THE BLACK MOUNTAINS LTD
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Report of the Trustees
1 to 15
Independent Examiner's Report
16
Statement of Financial Activities
17
Balance Sheet
18 to 19
Notes to the Financial Statements
20 to 30

PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with
the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
(effective 1 January 2019>.

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
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
advancing 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.
About Peak Cymru
Peak Cymru was founded thirty years ago in the Black Mountains as an experimental creative space for children and
Young People. It has evolved into an organisation which supports Young People 114-30 years}, artists and
intergenerational rural communities in Southeast Wales. We believe that artists build worlds-imagining and shaping
new ways to live -and that young people are at the forefront of change, needing support and allyship as they do the
work of the future.
We work across the Southeast Wales region including the Black Mountains, the Welsh Borders and Vale of Usk,
celebrating the unique qualities of this region through creative programmes which connect people and place. Through
young people's development programmes, collaborative research, artist residencies and commissions we celebrate the
radical rural imagination and support our collaborators to dream wildly.
Vision
A thriving Waleslworld for all species where creative practice is celebrated and valued as part of everyday life.
Mission
We create lime, space and resources for Young People, artists, curators, multi-disciplinary practitioners and
intergenerational communities to make, experiment and collaborate. We support diverse practices, materials and
knowledge systems, rooted in our rural context, exploring ways to live now.
Strategic Aims
Work with, and for, Young People
Be a good neighbour
Support artist, curator + cross-disciplinary research
Root global conversations in the local
Celebrate the unique qualities and ecologies of our region
Build fields + be a catalyst for change
Act ecological
Where we work
Peak works with individuals and communities across the county boundaries of Powys, Monmouthshire, Torfaen,
Blaenau-Gwent and Merthyr Tydfil, wrapping around the length of the river Usk. Our region encompasses agricultural,
rural and 'post-induslrial' communities with location-specific challenges such as.. sparse populations and poor rural
infrastructure, inequality and associated health impacts, ageing populations and everyday experiences of climate
change in the natural landscape.
Yr Hen Ysgol (The Old School) near the small town of Crug Hywel in Bannau Brycheiniog (Brecon Beacons National
Park). The site has a large and airy studio, kiln facilities, a community kitchen, Peak's offices and (currently in
development) a community garden. Diverse community groups use our spaces, from a wellbeing pottery group to an
intergenerational craft group.

PEAK - ART IN THE BLACK MOUNTAINS LTD {REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
Gorsaf Drenau'r Fenni (Abergavenny Train Station) the last stop on the trainline in and out of Wales on the busy Welsh
Marches line {100,000 annual passenger journeys from Abergavenny}. We have a reading room and studio space on
Platfform 2 (direction Cardiff Central) and are developing artist studio spaces in the main station building. We have an
active and growing partnership with Transport for Wales, working with their sustainability and climate team.
Ein tirlun gwledig (Our rural landscape) where the complexities of geology, history, colonialisation, language and
culture, ground our work with partners and collaborators.
Work with and for Young People
A through-line from the founding of Peak, Young People are our key collaborators. Each year we work deeply with 60
Young People, hold an active regional rne￿ork of 150 Young People and create paid opportunities for 60+ artists and
creative practitioners. We work beyond time limited projects, and our annual Young People's programmes are entry
points into a growing ecosystem of follow-on opportunities and entry-level paid creative roles for Young People.
We seek to address the lack of creative opportunities for Young People in Southeast Wales, especially those facing
intersecting barriers, exacerbated by the challenges of living rurally.
We work to shift and increase Young People's power and voice through co-design and evaluation practices that are
underpinned by structures of support and care.
We intend to increase social and cultural visibility for rurally-based Young People.
We aim to change sector practice and 'build fields, through peer exchange and dialogue, working towards a more
diverse sector through practicing models of co-leadership and co-design.
How we work
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 People, offering paid bursaries for time, 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. Peak aims to support positive change for
Young People, artists and intergenerational rural communities in Southeast Wales, amplifying the lived experiences
and creative practices of those furthest from power.
We embrace Cymraeg across our programme, communications and practices with a long-term vision to embrace
multilingual ways of working.
We're committed to building income generation that is sustainable and holistically aligned with our mission and values,
from ethical future-facing sources.
Key Programme Strands
Peak Peers is an intensive programme for Young People 18-30 and explores crealive, land and environmental
practices through cross-disciplinary work with a range of practitioners working in the fields of art, climate, land justice,
ecology and activism.
Rural Stiwdio is a creative programme for Young People 14-18 which explores ideas of what art can be, do, or make
possible, connecting with themes of nature, technology and place.
At Platfform 2, Abergavenny Train Station we facilitate varied ways of supporting the voices and ideas of artists,
curators and Young People, whether through workshops, talks, residencies, artist commissions or studio space.
At the Old School in Crickhowell, we're continuing to work with Young People and intergenerational groups to imagine a
future community garden.
Pegwn is Peak's Cymraeg I multi-lingual programme. Comprising of talks, publications, workshops and residencies, it's
a platform for artists, curators and writers to explore themes of language, translation, and creative practice.
Charitable Activities

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees have considered the Charity Commission's guidance on public benefit and how our activity meets the aims
and objectives of our organisation..
Peak's programmes create opportunities to build friendships, creative skills and to community. in a region with sparse
cultural infrastructure.
We use collaboiative and accessible approaches including group walks, community meals, workshops and inclusive
social spaces to foster experirnentation, imagination, collaboration, dialogue and hope at a time of social division,
inequality and climate instability.
Our work is grounded in the unique places and landscapes of the region, yet we exchange knowledge and build
nelworks with organisations in Ireland, Scotland and Europe who share the same belief in the vitality of rurally-based
practices and perspectives at a time of intersecting crises. We believe that the solutions to some of the most urgent
questions of our time can be found in the people and places of rural Wales.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
Overview
2024-25 was a significant year for Peak Cymru..
The inaugural year of a three-year funding award from Paul Hamlyn Foundation allowed the organisation to appoint a
co-director for Young People and to expand the leadership to a three-person co-director model - alongside resources to
create paid enlry-level creative roles for Young People and undertake deeper, long-term evaluation to understand the
impact of ils programmes.
Two concurrent tranches of Shared Prosperity Funding enabled us to begin the transformation of Peak's Old School
site and implement the pilot phase of a community garden and project, 'Our Plot,, hosting an intergenerational
gardening group and co-design activities with artist Sahra Hersi and Young People from Peak's ne￿ork.
Shared Prosperity Funding (Making a Difference in Powysl and support from Ashley Family Foundation enabled Peak
to significantly expand its work with Young People aged 14-18 years, developing previous programme strand 'Open
S￿idIO, into 'PlaylGround' and engaging 23 YP from Powys and Monmouthshire. Spatial designer Sahra Hersi led a trio
of workshops in collage, model-making and community consultation, laying the groundwork for the community garden
design process. Locally based creative and horticultural practitioners led further workshops across the six-month in
foraging, drawing with natural dyes, soillcomposting and pottery.
A second tranche of SPF funding (Powys Arts Transition and Resilience Grant) enabled us to employ a pilot
'Alternative Economies Manager, freelance role Isee 'Organisational Activity'l, The grant also enabled us to employ a
Curator for Young People, creating a much-needed opportunity for an early career curatorial role in Wales.
We expanded our annual keystone programme for 18-30 year olds, 'Peak Peers,, supported by ACW Create funding.
The 2024 edition hosted eleven Young People from Southeast Wales participating in eight days of intense activity with
onlributions from Right to Roam, Manon Awst, Beverley Bennett and Jannat Ahmed Isee 'Artistic Programme
Highlights, below].

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Artistic Programme Highlights
A selection of programme highlights which Peak delivered in 2024125 to meet its objects aTrd support Young People,
artists and rural communities.
"Artists.
Future Wales Fellowship
Peak continued to support the Future Wales Fellowship working in partnership with the Arts Council of Wales, Natural
Resources Wales, the Elan Valley Trust and National Trust. The Fellowship supported eight Wales-based artists to
develop research exploring the complex relationship bel￿een humans, nature, place and climate. Peak's role as lead
arts partner focused on devising and supporting three collective research residencies hosted at partner's sites,
alongside individual curatorial and research support. The first residential was held at Stackpole Estate in February
2024, a further residential in the Elan Valley in June 2024 and the final residency returned to Stackpole Estate in early
2025. Shaped by the fellows, the final residential included sharing from each artist in the form of poetry, music, talks,
movement workshops and discussions. Creative bilingual live translation was successful in creating a fluid sharing
experience. Guests invited to contribute to the residentials included Rachel Solnick, Dylan Huw, Jén Angharad and
Jenny Peevers.
Platfform 2 Commissions, Y Fenni Station
Supported by ACW Create funding we were able to offer three commissions to young artists at Abergavenny Train
Station, using the windows of Peak's spaces on Platfform 2. The first was a direct invitation to Ffion Williams
(participant, Platfform Haf 2022>, aligning with Ffion's billboard commission at Llantarnam Grange in Cwmbran, the
second was recruited via a call out to Peak's Young People's rne￿Ork and awarded to Mariana Zentella (participant,
Peak Peers 2023). A third commission, funded by Paul Hamlyn Foundation, was recruited through open call and will be
awarded in early 2025-26.
The programme invited artists to undertake the full arc of a commission supported by curator Cerian Hedd, who also
gained valuable experience in their first curatorial role. Each commission included a dedicated launch event led by
young creative practitioners, commissioned writing responses (author Mike Parker and journalist Jude Rogers
responded to Ffion and Zeta's work) and professional documentation. Each young artist received an artist fee
according to Peak's Pay Policy, alongside travel, malerials and an access budget. We also supported ￿0 development
sessions aimed at regionally based young creatives.
This work has helped us gain a deep understanding of the challenges and opportunities of offering public commissions
to young artists and there has also been significant learning around structuring future open calls and follow-up support.
Reflection conversations with a trusted external evaluator will inform case studies to understand the impact for each
artist. This body of Platfform 2 commissions will form the basis of partnership development with Transport For Wales to
shape future opportunities for young artists and audiences at the station.
Pegwn
To celebrale the first phase of Pegwn (2020-24), initiated by writer and author Dylan Huw, Peak published 'Ymagor'
the first in a multilingual publication series. The contributions from writers Toyosi Adenuga, Renée Eshel and Morgan
Owen are rooted in Peak's Platfform 2 site and were generated from a residency and Welsh language writing
commissions in 2023. 'Ymagor' was printed by Biscuit Press and is stocked at Book Space Cardiff and Broadleaf
Books, Abergavenny. In February 2025, Peak hosted an event at Book Space Cardiff. featuring readings from each of
the contributors and discussion with co-editor Dylan Huw.
Artist Support
Alongside programme activity, Peak staff regularly supported Wales-based artists through paid studio visits, mentoring
conversations and supporting fundraising applications. We're delighted that artist George H.Wale continues to work
from the small studio, the former school office, at Peak's Old School site.

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
"Young People.
PlaylGround
During summer and autumn 2024 8 group of locally based Young People {14-181 met once a month to imagine a new
community garden for Yr Hen Ysgol and learn new creative and horticultural skills. The programme was funded by
Ashley Family Foundation with support from PHF and SPF for staff roles. PlaylGround is a development of Peak's
Open Stiwdio and Criw Celf programmes for 14-18 year olds.
Artist and spatial designer, Sahra Hersi led the process, encouraging the YP to develop design skills across three key
workshops.. understanding the site, first ideas development, model making and community consultation. Complimenting
these workshops. practitioners in creative and sustainable fields led workshops in foraging (Adele Nozedar), drawing
with natural inks (Jordan Sallisl, composting and soil health (Hay! We Got Wormsl), pottery (Lucy Dickson> and textiles
(Ophelia Dos Santos), culminating in a sharing event with Young People and families in autumn 2024.
Twenty-three young people from the local area attended workshops, with fourteen from South Powys, and the others in
bordering area of Monmouthshire and Blaenau Gwent. A third of the Young People identified that they faced barriers to
accessing youth arts programmes. Key outreach partners for the project included Brecon Youth Club and Credu Young
Carers.
Peak Peers
'1 used to think of nature as a place of recharge and now I think of it as a place of resistance... I feel more energised by
nature and building alternatives, especially in terms of community and ways of existing, I want to carry this perspective
beyond this programme.,
K, 2024 Peak Peers Participant
Peak's keystone annual programme for Young People {18 - 30 yrs) took place in Autumn 2024. Exploring themes of
land, belonging and activism, the programme sits at the intersection of our work with artists, Young People and rural
communities and evolves each year, shaped by Young People, artists and creative practitioners involved. The
programme included creative workshops, walks and talks with artists, scientists and activists, responding to key local
sites including 'The Perched Bog, on Mynydd LIanga￿g and Kilpeck Church. Contributors included.. writer and Lucent
Dreaming editor Jannat Ahmed., artists Manon Awst, George Hampton Wale and Beverley Bennet,. YP Dan Williams
12023 Peak Peers participanll, Jon Moses and Nadia Sheikh of Right to Roam.
Peak Peers is recruited by open call, underpinned by engagement partnerships with youth, education and social justice
organisations. We received 29 applications., the seleclion panel included Young People who participated in Peak
Peers 2023. Of the 11 Young People successfully recruited.. 500/9 are from lower socioleconomic backgrounds, 25 %
have a Global Majority identity.41 % live with a disability, 25./0 are Welsh speakers., 80/0 are young carers. Participants
live and work within an hour of Peak's sites and their backgrounds and interests range from land rights to play therapy
and sustainable transport.
We evaluate Peak Peers with the Most Significant Change model, the whole cohort working with researcher Jenny
Peevers during a bespoke reflection day. Young People tell us that Peak Peers creatively develops their relationship
with nature,. develops their artistic confidence-, encourages risk taking,. and highlights the importance of a peer ne￿Ork
to the development of their own creative practice.

PEAK - ART IN THE BLACK MOUNTAINS LTD IREGISTERED NUMBER". 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Peak Peers at Abergavenny Food Festival
Peak's Young People's neI￿Ork was invited to participate in the Local & Vocal Stage at Abergavenny Food Festival in
September 2024. A small group from Peak Peers 2023 curated, hosted and documented the event, supported by
Young People's Curator Cerian Hedd. The group hosted a 45-minute slot at the festival with a panel discussion made
up of Young People connected to food system in Wales.. Katherine Langton (Langtons Farm co-founder},' Ellen Smith
(member of Young Farmers and the Penpont project land stewardl,. and Rowan Harris (a solar punk and Ancient
Cultures Student from Abergavenny). The group also commissioned poet Taylor Edmonds to create a spoken word
poem, drawing on a survey they devised about Young People's relationship to food systems.
Usk Mapplng l Aboundlng wlth Flsh '
During 2024-25 Peak worked in partnership with Action for Conservation￿he Penpont Project and the wider 'Usk
Catchment Partnership, (hosted by Bannau Brycheiniog National Park Authority) to embark on a project to map the
community stories of the River Usk. Bringing Young People together with ecologists, farmers and community members
to steer and enact a nature recovery plan, the project drew on eco-cultural mapping techniques developed by the Gaia
Foundation to consider the history, present and future of the river Usk and its communities. The map toured to Hay
Festival (featured by Robert Macfarlane), Abergavenny Pride, Brecon County Show and regional youth clubs and
galleries. An exhibition and film launch in November 2025 at Newport's Riverfront will catalyse future activity around
Usk Mouth and the Severn Estuary.
'Community'
Our Plot I Community Garden at YHY
Guided by our strategic aim 'to act ecologically,, Peak worked in collaboration with Young People and our local
intergenerational community to begin to transform the Old School former into a dynamic community garden.
In early 2024, Young People who had participated in previous Peak programmes (Peak PeerslP12tfform Hafj met local
growers, activists and cultural workers to develop a set of principles for the future garden, drawing on regenerative
ethics of permaculture.. Earth Care, People Care and Fair Share. Our Plot Principles included.. be a place to grow things
we love-, be allowed to be imperfect,. be an artist studio., be a place to cook delicious food together,. create a community.,
question why the hands are all white, be Collaborative., be a garden for now and for the not yet; create space for nature.,
be a collaborator., bring the intention to be present., not have any clocks.
Across the summer of 2024 and guided by these principles, a further group of Young People continued to imagine a
new life for the playground through a series of workshops. 'PlaylGround' led by Sahra Hersi focused on understanding
the site, hosting community consultation and shaping a garden design brief. Weaving in and out of this activity, Young
People experimented with print making, growing, natural dying, composting, ceramics and foraging. PlaylGround
participants found that through the lens of the garden, they could come together to learn new things, eat together, feel a
sense of improved wellbeing and connection to the site and each other.
The garden site also hosted intergenerational community 'Our Plot, activity ihrough a series of free workshops for local
adults to learn new skills in growing and making towards a group harvest lunch. Led by gardener and eco-therapist
Eileen Williams-sweet and a diverse group of creative practitionefs, the group were able to form relationships around
shared activities and continue to meet beyond the funded activity as a self-organised group.
Community Hires

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Community hires continue to activate Peak's Old School site and include Pottery for Wellbeing (with Brecon & District
MIND), Crafter's Café (hosted by the Fathom Trust) and community pilates and Tai Chi. Crickhowell Garden Society
and several artist collectives and grassroots organisations hired the Old School for special events and projects.

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Staff team
The Peak team continued to embed a three-person co-director structure, with Co-director for YP, Ellen Wilson,
commencing the role in May 2024, after a public recruitment process. The role is funded by Paul Hamlyn Foundation
for a three-year period, with further support from ArtFund.
From June 2024, co-director for operations, Louise Hobson, took maternity leave and experienced arts manager Elen
Roberts was appointed via a public recruitment process for a l￿e1Ve-M0nth cover role.
The Peak team was expanded with freelance and development roles, made possible by Paul Hamlyn Foundation
funding. Cerian Hedd, a young curatorlproducer with experience convening youth and community neI￿OrkS, undertook
a ￿e1Ve-mOnth Curator for Young People's role, focusing on commissions for young artists at Y Fenni station.
Development roles, intended to provide vital entry-level paid creative roles, were undertaken by Young People from
Peak's ne￿Ork and supported Peak Peers, PlaylGround and Our Plot programmes.
Hannah Griffiths, Peak's freelance bookkeeper, left her role in April 2024., after seeking recommendations from
professional accountancy bodies, we appointed senior finance manager and expert bookkeeper Janet Thomas Izyra
Finance) to work with Peak on a freelance basis, supporting the organisation's core financial operations.
Shared Prosperity Funding enabled us to appoint Polly Hunter in a pilot one-year freelance role of Alternative
Economies Manager to explore alternative income streams for the organisation, deepen community and strategic
partnerships and embed sustainability across the organisation.
Professional expertise in employment law, H.R., translation and design continues to be undertaken by a valued group
of freelance designers and professionals including Cathy Buckmaster, Mark El-Khatib, Lesley Rossiter and nico
(translation services).
Governance
Co-leadership Model
Drawing on sector-leading research such as Clare Antrobus, 2023 report, Co-leadership.. an opportunity for the UK
Cultural Sector to increase leadership diversity and impact, Peak was able to implement a three-person co-direclor
team, underpinned by a multi-year Paul Hamlyn Foundation grant. In May 2024, Ellen Wilson took up her role as
Co-director for Young People, joining Melissa Appleton Co-director for Strategy and Louise Hobson Co-director for
Operations. The opportunity to bed in this co-leadership team was limited due to Louise Hobson undertaking maternity
leave in June 2024 but the team remains committed to developing the model on her return in Summer 2025.
Board of Trustees
New appointments were made at Peak's AGM in October 2024, following a review of skills and experience that
identified a gap in local policyldevelopment and related sectors such as sustainability and food systems.
New trustees included.. Sarah Dickens (Chief Communications Adviser to the First Minister of Wales and her
Ministers)-, Chloe Masefield (Liberal Democrat Councillor, local business owner and sustainable food partnership
coordinator) and co-opted advisor, Sian Phillips (former Peak Chair and Chair of the Board of Governors, King Henry
Vlll School, Abergavenny}. Chloe Masefield stood down in February 2025 due to workload and external commitments.
Planning commenced for a recruitment drive for Chair and further trustees in 2024-25, with Chair Stephanie Allen
nearing her maximum term in Autumn 2025.
Youth Governance
Young People are Peak's central collaborators, and as an organisation we're actively committed to realising models of
youth-led decision making.
In early 2025 we invited YP from across Peak programmes to reflect on their experiences of decision-making within
Peak and to explore ideas for future youlh governance. We used youth participation models (ArnsteinlHart's Ladder of
ParticipatiOn￿he Lundy Model) to reflect on how Young People view their decision making at Peak and created a
banner with textile artist Menna Buss to map key values and processes.
In March 2025 we invited four YoLrng People to our staff and board away day at Newport Wetlands, to reflect on the
ways in which our formal governance structures could be expanded to better include the voices of YP.

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Across this work, Young People tell us that they are interested in ways to self-organise in their communities and to
participate in intergenerational learning. They are interested in creative approaches to decision-making, rather than
formal structures (such as a youth advisory board) which risk being siloed away from the governance of the
organisation. They also urged Peak to imagine youth voice not just as a way of shaping Peak's internal decisions, but
also a way of engaging with wider social action and change, within our local and regional communities.
This learning continues to shape Peak's approach for future ways of working. We are now embedding youth
participation practices in policy developmenl, recruitment, evaluation, programme planning, board governance and
communications and working towards creating decision making forums which connect Young People with staff,
trustees, partners and rural communities.
Alternative Economies Research
Two tranches of SPF funding in 2024-25 enabled Peak to pilot an 'Alternative Economies Manager, role. Alongside
supporting the Co-Directors in strategic planning, programme delivery and evaluation, the role focussed on the
following key areas to deepen the environmental, social and economic resilience of Peak..
Income generation.. growing income through community hires,. scoping individual giving and ethical business
sponsorship- exploring alternative fundraising opportunities and strategies.
Developing and supporting intergenerational and cross-sector community partnerships both regionally and nationally
to expand the impact of Peak's work and increase the knowledge base of the organisation.
Understanding the current environmental impact of Peak's sites,. scoping measures for energy use reduction.,
developing an environmental action plan.
Leading on the transformation of the Old School's former playground into a community garden at Peak's Crickhowell
site.
Leading on research into affordable artist housing in rural contexts, after dialogue with YP, artists and collaboraiors
identified this as the key barrier to being able to live and work in the region. A research partnership with LJMU was
undertaken to identify key areas of policy, community housing models and the potential role of an arts organisation in
developing housing,. the work has also begun to grow a community of practice with organisations and collectives in the
U.K., working with creative practices to influence local change.
Policies, Procedures, Training & Research
Annual staff and board Safeguarding Training was undertaken in Autumn 2024, hosted by Artswork., Ellen Wilson,
Co-director for YP was confirmed as Safeguarding Lead and Melissa Appleton as Deputy Safeguarding Lead.
Fuller Maternity Leave, Paternity Leave, Adoption Leave and Shared Parental Leave were developed and adopted.
Staff and board undertook a review of policy review processes and timescales, with support from co-opted advisor
Sian Phillips. It was decided that all policies would be reviewed in 3-year cycles with exception of Safeguarding and Pay
Policy which are reviewed annually. This is to ensure that policy work is more manageable for the small team.
Working with finance consultant Janet Thomas, Peak's financial procedures were reviewed and strengthened and
responding to a growing staff team, Graham Paul Ixeinadin was contracted to undertake payroll services.
Strategic Partnerships
Catalysed by the appointment of Cco-director for Young People, Peak re-established partnerships with local youth
organisations and clubs, education settings and specialist support groups including Credu {young carers), Mind, Child
and Adolescent Mental Heallh Services (CAMS) and LGBTQiA+ groups. Across 2024-25, we hosted tailored visits and
workshops with these groups towards Young People participating in Peak's key YP programmes.. Peak Peers and
Rural S￿idIO. Peak also initiated and strengthened relationships with cross-sector organisations and collectives in
Wales and U.K. including.. The Penpont Project, Action for Conservation, Right to Roam, Local Motion Carmarthen,
Liverpool John Moores University, Bannau Brycheiniog National Park Authority, Powys & Monmouthshire Councils,
Transport for Wales and Abergavenny Food Festival.
-10-

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Financial position
In 2024125 Peak received £248,120 of statutory funding and income from trusts and foundations. This included
£134,156 from Arts Council of Wales (including £76,811 annual investment funding 2023-271,. and Shared Prosperity
Funding via Powys County Council £113,464. Peak received further income from partnershiplhost contracts including
the 'Future Wales Fellowship, and income from hire of Peak's spaces.
Total incoming resources recognised in the year ended 31 March 2025 were £288,715 {2024'. £305,022). Of this,
£248,120 {2024. £279,143) derived from core grants and project funding, of which £163.90912023.' £128,987) is shown
in the Statement of Financial Activities as Restricted Funds. Income of £15,000 12024.. £14,755) was earned from
running commissioned projects. Rental income from lettings during the year was £12,109 {2024.. £8,133). There was a
surplus on unrestricted funds of £9,640 (2023.. £2,284) in the period.
Pricing Policy
Our pricing policy reflects Peak's values and aims to enable those with least access to participate in the arts. During the
year under review, all activities, events and publications were offered for free. Bursaries were available for Young
People to support access and travel costs.
Volunteers
Peak continues to rely on the generosity and skills of volunteers and support from partner organisations which in
2024-25 included Transport for Wales, Brecon & District MIND, Powys County Council, Bannau Brycheiniog National
Park Authority, CREDU Young Carers, Youth Organisations and local residents.
Reserves policy
The Board has examined the major strategic business and operational risks to which the charity is exposed and
determined the charity's requirement for reserves in the light of these risks. The Board aims to maintain an unrestricted
funds reserve level of approximately £35,000, representing over three months, running costs. The free reserves of the
charity at the year-end were £93,601 (2024.. £91,779). Monitoring will continue on a quarterly basis to consider the
extent to 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 2025
FUTURE PLANS
In 2025-25 and beyond, Peak will continue to strive for a vision of a thriving Waleslworld for all species where creative
practice is celebrated and valued as part of everyday life.
Organisational Work & Impact
In the upcoming year Peak staff and board will prioritise key organisational and strategic work, to further Peak's impact
for Young People, artists and rural communities - supported by Paul Hamlyn Foundation. Co-director for operations and
programme, Louise Hobson will return from maternity leave in summer 2025, and the organisation will embark on
training to underpin the co-director model, supported by Align, a consultancy for progressive movements. This work will
also review and further articulate Peak's vision, mission and aims, building on the 2023 Strategic Plan, and develop the
organisation's inaugural Theory of Change model in dialogue with a ne￿Ork of Peak collaborators and Young People.
In parallel to this work, we'll be considering how we communicate with, and ethically hold data about, cur collaborators.,
we'll be working with web developer and consultant Carl Morris to implement a database and tailor our communication
with key collaborators.
We'll continue to understand both the short and long-term impact of our work by using 'Most Significant Change,
processes and other evalualionlreflection tools including 1-1 conversations with YP and artists across our long-term
relationships with them. We'll link to the newly developed Theory of Change to further understand impact.
Governance
In 2025-26, Peak will say goodbye to Stephanie Allen who will have reached her maximum term as Peak Cymru's
Chair. The board will be focused on recruiting a new chair and additional trustees by Peak's AGM in November 2025 as
part of our long-term commitment to representing a diversity of backgrounds, identities and lived experiences on Peak's
board.
We will build on vital feedback gathered over the last year (see 'Organisational Activity.. Youth Governance,) to imagine
youth voice not just as a way of shaping Peak's internal decisions, bul also as a way of engaging wider social action
and change. Annual gatherings will bring together staff, trustees, Young People and collaborators to engage in key
organisational questions and decisions
and long-term research areas such as the Usk Mapping project create
frameworks for Young People to influence local change.
Young People's Programmes
Rural Stiwdio (formerly PlaylGround}.' Funded by Ashley Family Foundation, this programme will increase creative
opportunities for young people aged 14-18 living in the rural communities of South Powys and North Monmouthshire
through ambitious artist-led workshops at Peak's Old School site offering experiential, collaborative learning with
professional living artists from andlor living in Wales. Twenly-five Young People will engage deeply with the programme
with a further seventy-five engaged in advocacy and 'taster' creative sessions through partners.
Peak Peers. Peak Peers is an ambitious openly recruited annual arts programme for ￿e1ve Young People aged 18-25
living in Southeast Wales
exploring rural landscapes, belonging and climate .justice with cross-disciplinary
contributors. Developed and curated with Young People and partners, we're building on learning and momentum from
three previous iterations (2022-24) and for the next iterations will grow engagement partners in Torfaen,
Blaenau-Gwent and Newport. Peak Peers 2025-27 is funded by ACW Create.
The Living Usk.. Building on 2024-25 Usk Mapping activity, The Living Usk is a place-based project developed with and
for rurally-based Young People who live around Usk and Gavenny rivers, delivered with key regional partners including
Action for Conservation and Blaenau-Gwent, Torfaen, Powys and Monmouthshire youth services. It will offer creative
enquiry, ecological learning, skills development and hopefulness at a time of climate crisis and supports Young People
to take collective action for climate and nature emergencies. Esmée Fairbairn Foundation project funding has been
confirmed via Action For Conservation,. further funding is to be confirmed.
Yr Hen Ysgol Community Garden
-12-

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
Building on SPF funded activity in 2024-25 which established principles for the future Old School garden, further design
will be undertaken in Autumn 2025 by Abergavenny-based Garden designer Sarah Price, spatial designer Sahra Hersi
and Young People and local residents group 'Our Plot,. Fundraising will commence to realise the design in Winter 2026.
Supporting Artist, Curatorial Practice and Cross-Disciplinary Practice
Platfform 2- Young artist commissions at Platfform 2 will continue, the third artist will be selected via an open in Spring
2025. We'll continue to host groups and partners at the space including Aurora Collective who'll be using the site as a
base for a series of walks and workshops in Autumn 2025.
Future Wales Fellowship.. We'll continue to support the fellowship as arts partner, drawing the progfamme to a close
with the publication detailing the artist's journeys and programme impact.
Pegwn.. Peak's Cymraeg platform is a constantly evolving programme to imagine ways of thinking differently about
language futures in Wales. In 2025-26 it will grow in ambition, with the organisation hosting a residential programme for
ten artist, curators and cultural workers, in the Black Mountains in May 2025, drawing on learning from recent
programmes such as the Jerwood Curatorial Accelerator Programme, Future Wales Fellowship and the
cross-disciplinary approach we've developed in Peak Peers. Co-director for operations and programme {maternity
cover}, Elen Roberts is leading on the development of the programme with guest curator poet, composer and singer
Casi Wyn. Pegwn is funded by ACW Create.
Artist + Curator Research and Development. part of the above 'The Living Usk, research, a residency on the Gavenny
River, an artist commission at Platfform 2 and a Welsh language writing commission will reflect on climate justice and
river futures, offering development opportunities for artists and Rural Stiwdio YP. Funding lo be confirmed.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Peak Art in the Black Mountains Ltd is a company limited by guarantee governed by its Memorandum and Articles of
Association incorporated on 2 March 1992 and registered as a charity with the Charity Commission on 3 June 1992.
Each board member agrees to contribute an amount not exceeding £1 in the event of the charity winding up.
Charity constitution
The Directors of the Company are also charity trustees for the purposes of charity law. Under the company's Articles,
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 general meeting. They serve for an initial period of five years, which may be extended
by a further ￿0-year term. The Board may co-opt not more than four individuals who need not be members of the
Company and may speak but not vote at Board meetings. Co-opled Members retire at the next Annual General
Meeting but may be co-opted again by the newly elected Board.
Recruitment and appointment of new trustees
The Board audits the skills and contributions of its trustees. It identifies and recruits new trustees 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. Additional Board members may be appointed to the Board
during the year to fill casual vacancies, with the agreement of the trustees.

PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The Board meets four times a year and is responsible for the strategic direction and policy of Peak. Peak also hosts an
annual Board and Staff away day (linked to Q4 Board meeting) to explore strategic and research questions. Day to day
running of Peak is delegated to Peak's staff team. In 2024125, Co-Directors, Melissa Appleton (Strategy and
Programme,. Chief Executive), Ellen Wilson (Young People and Programmel and Elen Roberts (Maternity
CoverlllLouise Hobson (Operations and Programme) led the company and reported to the Board.
Further strategic direction and project support was undertaken by freelance staff members Polly Hunter {Alternative
Economies Manager) and Cerian Hedd (Young People's Curator). Senior finance manager and expert bookkeeper
Janet Thomas (Zyra Finance) continued to work with Peak on a freelance basis, supporting the organisation's core
financial operations. Peak is committed to increasing the agency of Youth voice in the organisation {see 'Youth
Governance, in 'Organisational Activity,).
Peak works with a pool of talented freelance artists and creative practitioners who contribute to programmes and
undertake projects., in 2024-25 we worked with over 50 practitioners in this capacity.
Key management remuneration
The Trustee Directors consider that the key management personnel, who are responsible for directing, controlling,
running and operating Peak on a day-to-day basis, comprise the Board of Trustees and the senior management team
of three co-directors. Trustees gave their time freely during the year under review, receiving no remuneration for their
services.
Peak's leadership team salaries are reviewed annually, and any pay rises are determined following annual appraisal.
Peak offers at least 'real living wage, rates to everyone it works with and has accreditation from the Living Wage
Foundation. Peak publishes a Pay Policy, including Young People's Pay Policy, on ils website which also sets a ratio
be￿een the highest and lowest paid in the organisation and reviews freelance pay rates annually.
Related parties
None of our trustees receive remuneration or other benefit from their work with the charity and no related paty
transactions were reported in the year.
Risk management
Peak, in common with all charities, faces a level of risk across its activities. Risk assessment is embedded within the
organisation, including the building of contingencies into budgets, and all our activities are rigorously risk assessed. In
accordance with good practice guidelines from the Charity Commission, the trustees identify, assess and monitor
operational risks in the following areas.. personnel, venue, finance, external and compliance risks.
The trustees, risk management strategy involves..
quarterly risk reviews embedded into operation reports
annual internal control review, in line with Charity Commission guidelines
the establishment of policies, systems and procedures to mitigate any identified risks arising from annual review
management accounting systems which identify and manage our key financial risks
standing items on board meeting agendas including safeguarding updates and reporting
The trustees also recognise that Peak, in common with all arts organisations, faces (and embraces) artistic risk in
relation to its artistic programming, particularly in a rural area where the cultural offer is limited and often traditional. It
therefore monitors artistic risks in relation to the reputation of the organisation and the artist by investing in careful
research, discussion with partners and funders, consultation with artists and clear public communication.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02692770 (England and Wales)
-14-

**PEAK - ART IN THE BLACK MOUNTAINS LTD** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 02692770 (England and Wales) 

**Registered Charity number** 1011599 

## **Registered office** 

The Old School Brecon Road Crickhowell Powys NP8 1DG 

## **Trustees** 

S M Allen (resigned 6.11.25) J H Allen M C N Lord L A Shipp (Chair) M J Hinkin (resigned 6.11.25) Dr C R Ellis-Jones (resigned 6.2.25) S Dickens (appointed 24.10.24) J Musker Turner (appointed 6.11.25) 

## **Independent Examiner** 

Xeinadin South Wales and West Limited Court House Court Road Bridgend CF31 1BE 

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

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 28 November 2025 

................................................................. L A Shipp (Chair) - Trustee 

-14- 



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 to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company lawl you are responsible
for the preparation of the accounts in accordance with the requirements ol the Companies Act 2006 {'the 2006 Act'}.
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act
and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried
out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the
Directions given by the Charity Commission under Section 145{51 (bl of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. l Can confirm
that l am qualified 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 attention in connection with the
examination giving me cause to believe..
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or
the accounts do not accord with those records., or
the accounts do not Comply with the accounting requirements of Section 396 of the 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 principles of the Slatement 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
IFRS 1021).
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 enable a proper understanding of the accounts to be reached.
J E Payne ACA
Xeinadin South Wales and West Limited
Court House
Court Road
Bridgend
CF31 1BE
28 November 2025
-16-

PEAK- ART IN THE BLACK MOUNTAINS LTD
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025
2025
Total
funds
2024
Total
funds
Unrestricted
funds
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
Commissions and consultancy
Charitable Activities
15,000
163,909
15,000
248,120
14,755
279,143
84,211
Other trading activities
Investment income
Other income
12,106
2,640
12,107
2,640
8,133
2,367
624
Total
98,957
178,910
277,867
305,022
EXPENDITURE ON
Raising funds
4,500
4,500
4,500
Charitable activities
Charitable Activities
100,592
213,738
314,330
213,458
Total
100,592
218,238
318,830
217,958
NET INCOMEI(EXPENDITURE)
Transfers between'funds
(1,6351
6,040
{39,328}
(6,0401
(40,963)
87,064
16
Net movement in funds
4,405
{45,368)
(40,963)
87,064
RECONCILIATION OF FUNDS
Total funds brought forward
89,195
110,523
199,718
112,654
TOTAL FUNDS CARRIED FORWARD
93,600
65,155
158,755
199,718
The notes form part of these financial statements
-17-

**PEAK - ART IN THE BLACK MOUNTAINS LTD** 

## **BALANCE SHEET 31 MARCH 2025** 

|Unrestricted<br>Restricted<br>funds<br>funds<br>Notes<br>£<br>£<br>**CURRENT ASSETS**<br>Debtors<br>14<br>4,136<br>-<br>Cash in hand<br>180,974<br>65,155<br>185,110<br>65,155<br>**CREDITORS**<br>Amounts falling due within one year<br>15<br>(91,510)<br>-<br>**NET CURRENT ASSETS**<br>93,600<br>65,155<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>93,600<br>65,155<br>**NET ASSETS**<br>93,600<br>65,155<br>**FUNDS**<br>16<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|2025<br>Total<br>funds<br>£<br>4,136<br>246,129<br>250,265<br>(91,510)<br>158,755<br>158,755<br>158,755<br>93,600<br>65,155<br>158,755|2024<br>Total<br>funds<br>£<br>12,248<br>212,571<br>224,819<br>(25,101)<br>199,718<br>199,718<br>199,718<br>89,195<br>110,523<br>199,718|
|---|---|---|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006  for the year ended 31 March 2025. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and  387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 28 November 

2025 

............................................. L A Shipp (Chair) - Trustee 

The notes form part of these financial statements 

-17- 



PEAK - ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CHARITY INFORMATION
Peak - Art in the Black Mountains Ltd is a private company limited by guarantee incorporated in England and
Wales. The registered office is The Old School, Brecon Road, Crickhowell, Powys NP8 1DG, United Kingdom.
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP IFRS 1021 'Accounling 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 IFRS 102) (effective 1 January 20191,,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
At the time of approving the financial statements, the trustees have a reasonable expectation Ihat the charity
has adequate resources to continue in operational existence for the foreseeable fLJture. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of
the donation, unless performance conditions require deferral of the 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 the extent that the charity has
provided the specified goods or services as entitlement to the grant only occurs when the performance related
conditions are met.
Unrestricted grants are recognised when received.
Income from rental is invoiced and recognised in the period to which the rental was provided.
Income from classes is recognised when the class is attended.
Income from fundraising events is recognised when the income is received.
Bank interest is included is in the accounts when receipt is probable and the amount receivable can be
measured reliably.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is
probable that settlement will be required and the amount of the obligation can be measured reliably.
Costs of raising funds comprise the costs in relation to generating income such as fundraising activities and
primarily relates to costs associated with the art auction.
-20-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES - continued
Expenditure
Expenditure on charitable activities includes all costs relating to the furtherance of the charity's objectives as
stated in the trustees report and their associated support costs.
Support costs have been allocated be￿een governance costs and other support. Governance costs comprise
all costs involving public accountability of the charity and its compliance with regulation and good practice.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Designated funds are those which have been set aside at the discretion of the trustees for specific purposes.
The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the financial statements.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the
charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which
they relate.
Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine 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 to determine the extent of the impairment loss (if any).
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, bank overdrafts. Bank overdrafts are shown within
borrowings in current liabilities.
Financial Instruments
The 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 recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial instruments and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set 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.
-21-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES - continued
Basic financial assets
Basic financial assets, which include debtors and cash bank balances, are initially measure at transaction price
including transaction transaction costs and are subsequently carried at amortised cost using the effective
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 assets classified as
receivable within one year are not amortised.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or
are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of
ownership to another entity, or if some significant risks and reward of ownership are retained but control of the
asset has transferred to another paty that is able to sell the asset in its entirety to an unrelated third party.
Baslc flnanclal liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement
constitutes a financial transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are
not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction
price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to
terminate the employment of an employee or to provide termination benefits.
Retlrement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Rental charges are charged on 2 Straight line basis over the term of the lease.
-22-
continued...

PEAK - ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates
and assumptions about the carrying 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 estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
OTHER TRADING ACTIVITIES
2025
2024
Rental from hires
12,107
8,133
INVESTMENT INCOME
2025
2024
Deposit account interest
2,640
2,367
INCOME FROM CHARITABLE ACTIVITIES
2025
2024
Activity
Commissions & consultancy Commissions and consultancy
Commissions & consultancy Charitable Activities
Grants
Charitable Activities
15,000
500
247,620
14,755
279,143
263,120
293,898
Grants received, included in the above, are as follows..
2025
2024
Arts Council of Wales
Esmee Fairbairn Foundation
National Lottery Awards for all Wales
Art Fund
Ashley Family Foundation
DAC
Powys Association of Voluntary Organisations
Paul Hamlyn Foundation
Powys County Council (SPF 2)
134,156
120,156
30,000
19,000
22,500
10,000
2,500
14,987
60,000
33,766
79,698
247,620
279,143
-23-
continued...

PEAK - ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
OTHER INCOME
2025
2024
Other Income
624
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 91
Support
costs (see
note 101
Totals
Charitable Activities
292,805
21,525
314,330
DIRECT COSTS OF CHARITABLE ACTIVITIES
2025
2024
Staff costs
Light and heat
Telephone
Postage and stationery
Sundries
Projecl Costs
Rent & insurance
Travel
Maintenance & general building costs
Professional fees
Core activity costs
Staff Training
Translation costs
Venue Costs
IT Costs
Rates
118,494
2,408
1,416
1,513
785
141,728
2,244
256
8,136
4,077
497
3,410
3,766
101
3,624
350
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
292,805
199,674
-24-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
10.
SUPPORT COSTS
Management
Finance
Totals
Charitable Activities
20,838
687
21,525
11.
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year
ended 31 March 2024.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended
31 March 2024.
12.
EMPLOYEES & STAFF COSTS
2025
2024
Wages and salaries
Social security costs
Other pension costs
104,807
11,339
2,348
77,735
2,793
1,160
118,494
81,688
The average monthly number of employees during the year was as follows..
2025
2024
Management & administration
No employees received emoluments in excess of £60,000.
The key management personnel as detailed in the trustees report received remuneration consisting of gross
salary, employers national insurance contributions and employers pension contributions totalling £76,934. 12024
£63,448)
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
Restricted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Charitable activities
Commissions and consultancy
Charitable Activities
4,755
150,156
10,000
128,987
14,755
279,143
Other trading activities
Investment income
Other income
8,133
2,367
624
8,133
2,367
624
Total
166,035
138,987
305,022
-25-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
Total
funds
EXPENDITURE ON
Raising funds
4,500
4,500
Charitable activities
Charitable Activities
161,835
51,623
213,458
Total
166,335
51,623
217,958
NET INCOMEI{EXPENDITURE)
(300)
87,364
87,064
RECONCILIATION OF FUNDS
Total funds brought forward
89,495
23,159
112,654
TOTAL FUNDS CARRIED FORWARD
89,195
110,523
199,718
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade debtors
Prepayments and accrued income
3,250
886
3,216
9,032
4,136
12,248
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
3,630
2,034
83,263
2,583
8,894
1,610
8,047
6,550
91,510
25,101
-26-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
16.
MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
between
funds
At
31.3.25
At 1.4.24
Unrestricted funds
General fund
89,195
(1,635)
6,040
93,600
Restricted funds
ArtFund
National Lottery Awards for All Wales
Mental Health Pottery Groups
Paul Hamlyn Foundation
Ashley Family Foundation
Powys Association of Voluntary
Organisalions (SPF 1)
Arts Council of Wales.. Future Wales
Fellowship
Arts Council Wales.. Create
Powys County Council (SPF 2)
ACW Resilience fund
22,500
18,921
1,159
56,778
8,581
{11,3231
(7,810)
11,177
11,111
728
17,364
963
(431)
(39,414)
17,6181
3,455
{3,455)
2,584
7,275
21,052
(4,862}
{83)
{7,100)
2,759
21,052
4,863
83
110,523
{39,3281
(6,040)
65,155
TOTAL FUNDS
199,718
(40,963>
158,755
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
98,957
(100,592)
(1,6351
Restricted funds
ArtFund
National Lottery Awards for All Wales
Paul Hamlyn Foundation
Ashley Family Foundation
Powys Association of Voluntary
Organisations (SPF 1)
Arts Council of Wales.. Future Wales
Fellowship
Arts Council Wales.. Create
Powys County Council {SPF 2)
ACW Resilience fund
(11,323)
17,810)
{39,414}
(7,617)
(11,323)
(7,810>
(39,414)
{7,618}
(1)
33,767
{30,312)
3,455
14,998
50,445
79,701
(7,723}
(29,393)
(84,563}
{83)
7,275
21,052
14,862)
(83)
178,910
(218,238)
(39,328)
TOTAL FUNDS
277,867
(318,830}
(40,gS3)
-27-
continued...

PEAK-ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
16.
MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
movement
in funds
At
31.3.24
At 1.4.23
Unrestricted funds
General fund
89,495
(300)
89,195
Restricted funds
ArtFund
National Lottery Awards for All Wales
Arts Council of Wales - Casgleb
Colwinston Charitable Foundation
Menlal Health Pottery Groups
Paul Hamlyn Foundation
Ashley Family Foundation
Arts Council of Wales.. Future Wales
Fellowship
22,500
18,921
112,000)
(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
Comparative net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
166,035
(166,335}
(3001
Restricted funds
ArtFund
Nalional Lottery Awards for All Wales
Arts Council of Wales - Casgleb
Colwinston Charitable Foundation
Paul Hamlyn Foundation
Ashley Family Foundation
DAC
Powys Association of Voluntary
Organisations {SPF 1)
Arts Council of Wales.. Future Wales
Fellowship
22,500
19,000
22,500
18,921
{12,0001
{10,0001
56,778
8,581
(79)
112,000)
{10,000}
(3,2221
(1,4191
12,500)
60,000
10,000
2,500
14,987
114,987)
10,000
(7,416)
2,584
138,987
(51,6231
87,364
TOTAL FUNDS
305,022
(217,958)
87,064
-28-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
16.
MOVEMENT IN FUNDS - continued
Art Fund funding contribution towards 'Co-director Young People & Programme role, (2-year funding award
2023-25}
National Lottery Awards for All Wales
Peak's Old School site.
funding the initial development stages of a community garden at
Mental Health Pottery - funds donated for materials for mental health pottery sessions hosted in partnership
with Brecon & District MIND.
Paul Hamlyn Foundation funding of 'Co-director Young People & Programme, role, paid development roles
for Young People and data and evaluation work {3-funding award 2023-261.
Ashley Family Foundation
funding of practitioner fees and materials for Rural Stiwdio 2024-25 (Peak's
creative studio programme for 14-18 year olds).
Powys Association of Voluntary Organisations (SPF I) tranche of SPF funding to support pilot stages of
community garden and staff roles.
Arts Council of Wales, Future Wales Fellowship - contract to deliver FWF as arts partner.
ACW Create - project funding to deliver Peak Peers 2024, Pegwn activity and Platfform 2 Commissions.
Powys County Council ISPF 21 tranche of SPF funding to support 'alternative economies research, and
strengthening financial and environmental sustainability of the organisation.
ACW Resilience Fund - 'Jobs and Resilience Fund, grant to underpin staff roles and core operations.
EMPLOYEE BENEFIT OBLIGATIONS
17.
Defined contribution schemes
The charity operates a defined contribution pension scheme for all qualifying employee. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect contribution schemes was £2,34712024.. £1,160). There were amounts
oulstanding of £Nil12024.£Nil) at the year end.
-29-
continued...

PEAK- ART IN THE BLACK MOUNTAINS LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
18.
RELATED PARTY DISCLOSURES
There were no related paty transactions for the year ended 31 March 2025.
-30-