Reglstered number: 2881599
Charity number: 1034890
Oriel
Davies
Gallery
ORIEL DAVIES GALLERY
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Partners
Protecting your future.

ORIEL DAVIES GALLERY
IA Company Limited by Guarantee)
CONTENTS
Page
Reference and Adminlstratlve Detalls of th8 Charltable company. Its Trustees and
Advls8rs
Trustees, Report
Indopendent Examlnerfs Report
10-11
Statement of Flnanclal Actlvltles
12
Balance Sheet
13-14
Statsment of Cash Flows
15
Notes to the Flnanclal Statements
16-33

ORIEL DAVIES GALLERY
(A Company Llmlted by Guaranteo)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 MARCH 2026
Trust888
M Brown
J Burt (appointed 24 June 20251
S Cotton
A Hitchcox (appointed 21 May 2024)
S Robertson
T Simpson
S Vicary
D Webb (appointed 24 September 2024)
Company reglstsred
number
2881599
Charlty reglstered
number
1034890
Reglstered offlce
The Park
NeW(own
Powys
SY16 2NZ
Chlef executlve officer
Steffan Jones-Hughes
Accountsnts
WR Partners
Chartered Accountants
Hafren House
5 St Giles Business Park
Ne￿own
Powys
SY16 3AJ
Page 1

ORIEL DAVIES GALLERY
(A Company Limited by Guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the charitable company for the
year from 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees, report and
directors, report under company law. The Trustees confirm that the Annual Report and financial statements of
the charitable company comply with the current statutory requirements, the requirements of the charitable
company's governing document and the provisions of the Staternent of Recommended Practice (SORP)
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charitable company qualifies as small under section 382 of the Companies Act 2006. the Strategic
Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Executlve Summary
The Oriel Davies Trust is a well-established arts organisation with sufficient revenues and reserves to fulfill its
medium-temi goals. We work closely with our diverse local communities and celebrate our bilingual culture,
providing inclusive access to art and creativity. Our approach is socially responsible and entrepreneurial within a
charitable context.
At the end of 2024125 our draft Reserves (figure in our bank) was £451,825 1 £304,164 in free reserves (prior
year £418,428 1 £340,146 in free reserves). Efficiencies have continued to be found and applied across the
organisation, helping to create a more sustainable and resilient business model reflecting the vision of the
director and trustees.
We remain an accredited Living Wage Employer with salaries decreasing from £202,058 in 202312024 to
£199,378 in 202412025, coming in under budget by £22,442 mainly down to the cafe and shop being closed due
to the capital project. In addition, no new permanent contracts were issued in this year.
Highlights of our programme included our work with the Sensory Impairment Unit of Powys County Council which
led to a presentation at the Deaf Blind UK conference, Tutti Frutti LGBTQIA+ workshops for young people,
filmworks by Tom Cardew and Paul R Jones, Becoming Lichen with Simon Whitehead, and Bamboo by No Fit
State Circus.
These exhibitions and projects were well received, showcasing diverse and inclusive artists. The gallery itself
was closed from eady September with many of our activities moving offsite- resulting in the inevitable decrease
in visitor numbers (of 34.66 % based on the same period in 202312024). We are confident that we can build on
Ihese figures as a result of the capital investment and our new relationship with the national collections as a
partner in CELF, The national contemporary art gallery of Wales.
Visitor Numbers 202412025.. 21,365 (previous year 51,598)
Visitor figures.
Visitor fi
ures
201912020
202012021
202112022
202212023
202312024
202412025
26,289
21,365
Page 2

ORIEL DAVIES GALLERY
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The gallery continues to work with a wide range of partners including The Arts Council of Wales, Powys County
Council, Newtown Town Council. Open Newtown and multiple community groups. We continued to maintain
existing partnerships with Open Newtown, Montgomeryshire Wildlife Trust, and Cultivate, a cooperative, run by
volunteers and employees who are dedicated to supporting a resilient local food economy. The National Museum
in Cardiff, The National Library in Aberystyh, Welsh Government, Newtown Town Council, Robert Owen
Museum, Oriel Myrddin, DAC (Disability Arts Cymru).
New partnerships were developed, with local regional and national partners including the CELF ne￿Ork of
galleries, Powys Teaching Health Board. Cyfie Cymru, engage and ARMA, Wales Arts International and these
partnerships have relevance for specific projects but also future relationships.
The gallery is still in post covid recovery, our retail and cafe income were both significantly down due to capital
work. We should see a return in 202512026.
Objectlves and activities
a. Policles and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running
charity (PB2)'.
Orlel Davles Gallery's Mlsslon:
Oriel Davies connects people with contemporary art and culture in Mid Wales providing opportunities to
experience National and International artists working within a Welsh context in a stimulating, engaging, inclusive
and welcoming environment.
Context:
We are one of the leading galleries in Wales and the principal Contemporary visual arts venue for the Mid Wales
and Welsh Borders region. We are a meeting place for individuals and communities.
Key Prlorltles:
Embracing diverse communities and promoting equalities as the foundation of a clear commitment to reach
and engage more widely and deeply
Providing generosity of access to art and culture
Unlocking hidden talent
Becoming entrepreneurial in spirit, strengthening our capability and resilience, enabling creative talent to
thrive, working more efficiently, and collaborating more imaginatively with like-minded partners across Wales
and beyond
Page 3

ORIEL DAVIES GALLERY
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Objectlves and activities (contlnued
b. Key Organlsational Objectlves In 202412025
Creativily
Ambltlon.. Deliver a distinctive, diverse, and inclusive visual art program.
Focus.. Work wilh artists to develop their practice and gain recognition.
Goal.. Achieve national and international significance.
Widening Engagement
Commitment.. Work with the wdest possible audience.
Accessibility.. Overcome barriers to access and make the space welcoming and inclusive.
Community Role.. Actively participate in local events and support community activities.
Welsh Language
Promotion.. Use, celebrate. and promote the Welsh language.
Opportunitles.. Increase opportunities for Welsh language artists and events.
Climate Justice
Recognition.. Acknowledge the climate emergency and its impacts.
Sustainability.. Reduce resource consumption and promote environmental awareness.
Nurturing Talent
Support.. Nurture and support staff and volunteers.
Development.. Foster a culture of learning and personal development.
Volunteer Program.. Develop an active volunteer program and new membership opportunities.
Transformation
Collaboratlon.. Partner with visual arts organizations for maximum impact.
Transparency.. Increase transparency, accountability, and inclusivity in decision-making.
Flnancial Growth.. Increase earned income and reduce dependence on single funding sources.
Achlevements and performance
a. Achlevements and Performance 2024125
Key Actlvltles and Achievements
Capital Investment
This year saw an investment of £1,038,774 of Welsh Government funding to improve and upgrade the
facilities at Oriel Davies. The funding was announced in December 2023 and there has been a very short
window in which development can take place. The contractors complete by mid-march 2025, enabling us
to present an evolving exhibition of photographs from late March which will run until August 2025. A new
gallery space has been created, a new accessible toilet and kitchenette to Servi￿ events in gallery 2, the
roof has been replaced, and security systems have all been upgraded. New air handling units and lighting
have been installed. This inveslment has allowed us to work with our landlords MCRA to upgrade inside
and out.
Once complete we will begin a 10-year partnership with the National Museum and National Library to bring
important contemporary and modern art from the national collections to share with our audiences.
Page 4

ORIEL DAVIES GALLERY
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achlevements and performance {contlnued)
Capltal Works and Expanslon: We successfully completed major capital works to join the CELF national
contemporary art gallery programme. This expansion has not only enhanced our physical space but also
our capacity to host a wider range of exhibitions and events, allowing us to reach and engage more
visitors from 2025 onwards.
Enhanced Collaboratlons.. We have increased our loan opportunities from prestigious institutions like the
National Library of Wales and the National Museum. This builds on ourthree-year partnership with The
National Gallery in London, and the world's biggest art prize Artes Mundi (2023), and Disability Arts Cymru
(2021-2024). These collaborations have enriched our contemporary exhibitions and provided our visitors
with access to a broader spectrum of art and culture.
Visitors
As a result of the investment, we undertook Consultation Station in the gallery prior to closing for the
capital work. This exhibition enabled us to showcase what the future plans of Oriel Davies are and
provided an opportunity for input from our visitors. This has given us a significant amount of data which we
can use to improve our offer to our audiences.
We continuously seek feedback from our visitors to ensure our programming meets their needs and
reflects their diverse backgrounds. Positive testimonials highlight the welcoming atmosphere and the
impact of our inclusive approach on visilors, wellbeing.
Gallery Shop and Cafe
The shop and cafe have been significantly affected by the closure for capital works.
Equality, Diversity, and Inclusion
At Oriel Davies, our commitment to equality, diversity, and inclusion (EDI) is integral to our mission and
programming. We strive to create an environment where everyone feels welcome, valued, and
represented. Here's how we deliver against our EDI objectives through our programming and activities..
Incluslve Programmlng.. Our exhibitions and workshops are designed to be accessible and engaging for
diverse audiences. We feature a wide range of artists, including those from underrepresented groups,
ensuring that our programming reflects the diversity of our community. Initiatives like Criw Celf and the
New Routes Internship Programme support young people facing barriers to careers in the arts, promoting
diversity within the sector.
Community Engagement.. We actively engage with local and refugee communities through projects like
River Songs and River Friends, c(>produced with Artes Mundi and Sevem Rivers Trust. These projects
foster cultural exchange and mutual understanding, creating a shared space for diverse voices.
Accessibility.. Our gallery is designed to be accessible, with level aC￿sS throughout and infomiation
available in multiple formats and languages. We offer guided tours and workshops for visually impaired
visitors and host family days with Syrian and Afghani families. Our staff undergo sensory loss awareness
training to better accommodate visitors with sensory impairments.
Wellbeing and Incluslvlty.. Programs like Croeso Cynnes focus on community wellbeing, incorporating
music, dance, and consultation sessions to foster a sense of belonging. We also develop workshops for
visually impaired communities and provide visual impairment information sessions to promote empathy
and understanding.
Through these efforts, Oriel Davies demonstrates a strong commitment to EDI, ensuring that our gallery is
a place where everyone can connect with contemporary art and culture.
Impactfvl Community Engagement
Crlw Celf and New Routes Internshlp Programme.. Our initiatives like Criw Celf and the New Routes
Internship Programme have been instrumental in nurturrng young talent and promoting diversity within the
arts. By providing residencies and internships. we support young people facing barriers to careers in the
arts, fostering a new generation of creatives.
Page 5

ORIEL DAVIES GALLERY
(A Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Achlevements and performance (continued)
Croeso Cynnes Wellbelng Programme.. This programme, which includes music, dance, and community
consultation, has had a profound impact on the mental and emotional wellbeing of our community
members. It has fostered a sense of belonging and connection, demonstrating our commitment lo
comrnunity wellbeing.
Inclusive and Innovative Approaches
Sensory Impaim)ent Unit and Famlly Days.. We have developed workshops specifically for visually
impaired communities and hosted family days with Syrian and Afghani families. These inclusive programs
ensure that art is accessible to everyone, regardless of their sensory abilities or cultural background.
Sensory Loss Awareness Training.. Our staff undergo sensory loss awareness training to better
understand and accommodate visitors with sensory impairments. This training ensures that ourteam is
equipped to provide an inclusive experience for all visitors.
Impactful Storytelling and Exhibitions
Thought-Provoklng Exhibitions.. Our exhibitions have been praised for their thought-provoking content
and community engagement. These exhibitions tell power￿1 stories that resonate deeply with our visitors,
creating a meaningful connection.
Posltlve Visitor Feedback-. We have received positive feedback and testimonials from visitors who have
praised the welcoming atmosphere and the impact of our art on their wellbeing. This feedback highlights
the effectiveness of our approach and the positive impact we have on our community.
Creating a Welcoming Environment
Accessible Gallery Space.. Our gallery space is designed to be open and accessible, with level access
throughout and information available in multiple formats and languages. We also offer virtual tours and
guided services to ensure that everyone can enjoy our exhibitions.
Professional Development- We invest in the professional development of our leam, including training in
sensory impairment awareness and Welsh language. This ensures that our staff are well-equipped to
provide an inclusive and welcoming experience for all visitors.
Unique Projects and Overall Impact
Standout Projects.. Projects like "Rlver Songs" and "Workshops for Wellness" align with our mission
to connect art with community wellbeing. These projects, along wilh our overall approach to inclusivity and
innovation, make us unique and the best at what we do.
Exhibitions at Oriel Davies received a total of 51,958 visits. an increase of 8,611 on the previous year. The
exhibitions were Well-re￿IVed by our audiences.
Fundralslng
Funds raised for the exhibitions and the learning programmes in 202412025 include..
Arts Council of Wales CELF Capital Grant..
£874,430
Arts Council of Wales Club Crefft
£8,991
Arts Council of Wales Urdd Eisteddfod
£9,359
Arts Council of Wales Creative Practise
£1,245
other grants..
Ashley Family Foundation
PCC Raising Aspirations I Creative Workshops
CELF Artist Commissioning
Alexandra Reinhardt Memorial Award
£5,000
£2,000
£14,000
£5,000
Page 6

ORIEL DAVIES GALLERY
(A Company Limited by Guarantsel
TRUSTEES, REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Financial review
a. Going concern
After making approprrate enquiries, the Trustees have a reasonable expectstion that the charitable company has
adequate resources to continue in operational existence for the foreseeable future. For this reason, they
continue to adopt the going concern basis in preparing the financial statements.
b. Reserves policy
The ODG Rese￿eS Policy was reviewed and approved by the Board of Trustees on the 27th February 2023. At
the end of year, our free reserves were £304,164 12024.. £340,146). The minimum reserves figure currently
stands at £220,000. The trust will review its Reserves Policy in 202512026. The organisation is in a stable
position, having secured multi-year funding from ACW 2024-2027, and having undergone a phase of
development in the Winter of 202412025. Some £56k of reserves were needed to complete capital works. The
lease is secure until 2052.
c. Principal rlsks and uncertainties
The capital project was Welsh Government initiative funded through the Arts Council of Wales. The dispersed
model for a National Contemporary Art Gallery will provide increased access lo the national collection and bring
contemporary art closer to communities through a ne￿Ork of nine galleries already established across Wales.
More of Wale5' collections will also be provided through the Celf ar y Cyd website. Be￿een 2017 and 2023,
expenditure on the various elements of this programme totalled £1.76m, with £1.36m being capital expenditure.
The updated grant award provides a further £6.3m to support the project through to its completion in March
2025.
The project, funded by Welsh Govemment invested £1,038,774 towards upgrading facilities, security, climate
control, electrics, lighting and roof at Oriel Davies. The project commits us to working in partnership until 2034,
however a risk is that the Govemment doesn't continue to support the project. All partners are working towards
renegotiating an Operational Model and finding ways to ensure that the project is adequately funded moving
forward.
https'.Ilww.gov.waleslwritten-statement-development-national-contemporary-art-gallery-wales
https'.Ilwww.gov.waleslwritten-statement-update-about-national-contemporary-art-gallery-national-football-
museum-and
d. Prlnclpal funding
Principal Funding Sources.. Arts Council of Wales; Trusts and Foundations.
As one of ACW'S Clients within the Arts Portfolio Wales since 2016- the organisation received annual revenue of
£221,450.
Regular arts funding from Powys County Council was discontinued. The organisation reprofiled its work with the
local authority and now provides services to departments within the council on an earned income basis.
The organisation is very grateful for the commitment and support of its principal funders, Arts Council of Wales.
Public funding has and continues to be under great pressure and Arts Council of Wales continues to ensure that
the impact of this pressure on their clients has been kept as low as possible.
Page 7

ORIEL DAVIES GALLERY
(A Company Llmited by Guarant881
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management
a. Constitution and governance
Oriel Davies Gallery is a company limited by guarantee as defined by the Companies Act 2006. It is a registered
charity. The company was established in 1993 under a Memorandum of Association, which established the
objecls and powers of the charitable Company and is governed under the Articles of Association.
The trustees meel at least 4 limes a year and are responsible for the management and strategic leadership of
the charity and ensuring that the charity devotes all its resources and assets towards meeting ils objectives. The
Trustees of Oriel Davies Gallery are fully aware of their responsibilities and exercise reasonable skill and care in
the governance of the Trust. Trustees are liable for the sum of £1 should the Trust cease to be solvent due to no
fault of the Trustees and they have govemed the Trust showing due care and prudence.
As a public service and building open to the public, the Charily has Public Liability Insurance.
b. Methods of appolntment or election of Trustees
Oriel Davies Gallery trustees are recruited according to the skills required as identified by The Board. A broad
and diverse recruitment process is adopted and governance training is given regularly to members via
professional bodies. A skills audit is undertaken annually to ensure the organisation has the breadth of skill
needed to govem the organisation.
c. Pollcles adopted for the Inductlon and training of Trustees
The charily has a policy and procedure for the induction of volunteers and trustees. When necessary, the
company provides training for Trustees to maintain appropriate knowledge of their role and responsibility as
trustees under Company Law and Charity Commission guidelines. Trustees are currently invited to an initial
meeting and then a support system is in place from existing Trustees.
d. Organlsational structure and decision-maklng policies
All decisions on policy and strategy are made by the Board ofTrustees and recorded in the minutes of the Board
meetings. Day to day responsibility for the management of the charity is delegated to the Gallery Director,
Steffan Jones-Hughes. Individual Trustees take particular interest in aspects of the business relating to their
skills and expertise and provide mentorship and support in relation to these.
e. Arrangements for setting key management personnel remuneration
The Director of the Gallery is an Employee of the Board. The salary of the Director is agreed by the Board of
Trustees who make the appointment. Expenses incurred by the Director are monitored by the Chair of Board of
Trustees. All other Trustees are unpaid except for expenses incurred directly on the charitls behalf.
f. Major rlsks and management of those rlsks
The trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that
system5 are in place to mitigate exposure lo those major risks.
Page 8

ORIEL DAVIES GALLERY
IA Company Llmlted by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Plans forfuture periods
Key Objectives for 202412025
Evaluate the environmental impact of our work
Create and sustain collaboration with diverse artists, makers and communities through Exhibition,
Engagement and Outreach programmes
Widen and deepen engagement wth audiences though Learning Programmes
Contribute to individual and social health and wellbeing by.. creating social and cultural connections., building
creative and social capital and confidence., providing a safe space and a supportive, creative environment for
disadvantaged and overlooked individuals and communities
Promote the use of and access to the Welsh language throughout the organisation and its activities
(including HR, governance, communications) and report on our Welsh Language Plan
Continue the Process of ODG Board Development
Increase earned income from ODG café and retail, on site and online including venue hire.
Statement of Trustees, responslbilities
The Trustees (who are also the directors of the charitable company for the purposes of company lawl are
responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law
and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of
the state of affairs of the charitable company and of its incoming resources and application of resources,
including its income and expenditure, for that period. In preparing these financial statements, the Trustees are
required to=
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that are reasonable and prudent-,
state whether applicable UK Accounting Standards IFRS 102) have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of
the charitable company and enable them to ensure that the financial statements comply with the Companies Act
2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Appr
r of the members of the board of Trustees and signed on their behalf by..
MBro
(Acting Chair of Trustees)
Date..
A£
IG
Page 9

ORIEL DAVIES GALLERY
{A Company Llmited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Independent Examinerfs Report to the Trustees of Orlel Davies Gallery I'the charitable
company'}
I report to Ihe charity Trustees on my examination of the accounts of the charitable company for the year ended
31 March 2025.
The charitable company has received a dispensation from audit dated 14 August 2025 fromthe Charity
Commission.
Responsibllltles and Basis of Report
As the Trustees of the charitable company (and its directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006
I'the 2006 Act,).
Having satisfied myself that the accounts of the charitable 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 the
charitable company's accounts 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{5llbl of the 2011 Act.
Page 10

ORIEL DAVIES GALLERY
{A Company Llmlted by Guarantee)
INDEPENDENT EXAMINER'S REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Independent Examlner's Statement
I have completed my examination. I confimi 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 charitsble 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 Statement of
Recommended Practice for accounting and reporting by charities lapplicable 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 olher 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.
This report is made solely to the charitable company's Trustees, as a body, in accordance with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the
charitable company's Trustees those matters l am required to state to them in an Independent Examiner's
Report and for no other purpose. To the ￿lIest extent permitted by law, I do not accept or assume responsibility
to anyone other than the charitable company and the charitable company's Trustees as a body, for my work or
for this report.
Signed..
Dated".
14 K)OvQ6vibt/ loi
S J Tweedle
Bsc FCA DChA
WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
Page11

ORIEL DAVIES GALLERY
IA Company Limlted by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted
funds
2025
Restricted
funds
2025
Total
funds
2025
Total
funds
2024
Note
Income from:
Donations, legacies and capital grants
Charitable activities
other trading activities
Investments
other income
1,173
226,904
25,377
3,893
51,404
874,430
49,596
875,603
276,499
25,377
3,893
51,404
167.118
296.837
68,003
6,059
46, 737
Total income
308,751
924,025
1,232,776
584, 754
Expenditure on:
Charitable activities
345,606
101,819
447,425
424,998
Total expenditure
345,606
101,819
447,425
424,998
Net (expendlture)lincome
Transfers be￿een funds
(36,8551
(2,1701
822,206
2,170
785,351
159, 756
18
Net movement In funds
(39,026)
824,376
785,351
159, 756
Reconciliation of funds:
Total funds brought forward
Net movement in funds
356,448
(39,0251
166,543
824,376
522,991
785,351
363, 235
159, 756
Total funds carrled fO￿ard
317,423
990,919
1,308,342
522,991
The notes on pages 16 to 33 form part of these financial statements.
Page 12

ORIEL DAVIES GALLERY
(A Company Llmlted by Guarantee)
REGISTERED NUMBER: 2881699
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Flxed assets
Tangible assets
Investments
13
14
977,914
159, 638
977,916
159, 639
Current ag88ts
Stocks
Debtors
Cash at bank and in hand
15
16
17.503
61.783
451.825
17,524
53,486
418,428
531,111
489,438
Current Ilabllltleg
Creditors.. amounts falling due within one
year
17
(200,684)
(126,086)
Net current assets
330,427
363,352
Total net assets
1,308.342
522, 991
Page 13

ORIEL DAVIES GALLERY
(A Company Llmited by Guarantee
REGISTERED NUMBER: 2881699
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
2025
2024
Note
Charity funds
Restricted funds
Unrestricted funds
18
990,919
317,423
166,543
356,448
18
Total funds
1,308,342
522,991
The charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial ststements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
slalem8nts were approved and authorised for issue by the Trustees and signed on their behalf by:
The fina
M Brown
Acting Chair of Trustees
Date..
28110/
Is
The notes on pages 16 to 33 form part of these financial statements.
Page 14

ORIEL DAVIES GALLERY
{A Company Llmltad by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Cash flows from operatlng actlvftles
Net cash used in operating activities
856,094
233, 732
Cash flows from Investlng actlvltles
Purchase of tangible fixed assets
(822.697)
(147,085)
Net cash used In Investlng actlvltla8
1822,697) (147,086)
Cash flows from flnanclng actlvltles
Net cash provlded by financlng actlvltles
Change In cash and cash equlvalents In the year
Cash and cash equivalents at the beginning of the year
33,397
86,647
418,428
331,781
Cash and cash equlvalents at the end of the year
451,825
418,428
The notes on pages 16 to 33 fomi part of these financial statements
Page 15

ORIEL DAVIES GALLERY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
General information
Oriel Davies Gallery is a company limited by guarantee in Wales. In the event of the charity being wound
up. the liability in respect of the guarantee is limited to £1 per member of the charity. The address of Ihe
registered office is given in the charity information on page 1 of these financial statements.
Accountlng policies
2.1 Basis of preparation of financlal statements
The financial ststements have been prepared in accordance with the Charities SORP {FRS 1021
Accounting and Reporting by Charities.. Statement of Recomrnended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (update effective 1 January 2019), the Financial Reporting
standard applicable in the UK and Republic of Ireland (FRS 102) and the Cornpanies Act 2006.
Oriel Davies Gallery meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy.
2.2 Golng concern
After making enquires, the Trustees have a reasonable expectation that the Charily has adequate
resources to continue in operational existence for the foreseeable future. The Charity therefore
continues to adopt the going concern basis in preparing its financia5 ststements.
2.3 Income
All income is recognised once the charitable company has entitlement lo the income, il is probable
that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to
measure this reliably, in which case the cost of the item to the donor should be used. The gain is
recognised as income from donations and a corresponding amount is included in the appropriate
fixed asset class and depreciated over the useful economic life in accordance with the charitable
company's accounting policies.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the seNice.
Page 16

ORIEL DAVIES GALLERY
(A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies {contlnuedl
2.4 Exp8ndlture
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned be￿een those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charilable activities is incurred on directly undertaking the activities which further the
charitable company's objectives, as well as any associated support costs.
2.5 Government grants
Govemment grants relating to tangible fixed assets are treated as deferred income and released to
the Statement of Financial Activities upon the completion of the relevant performance-related
conditions. Other grants that are not subject to performance-related conditions are credited to the
statement of Financial Activities as the grant proceeds are received. Grants received prior to the
revenue recognition criteria being satisfied are recognised as a liability-
2.6 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charitable company,. this is normally upon notification of the interest paid or payable by
the institution with whom the funds are deposited.
2.7 Tanglble flxed assets and depreciatlon
Tangible fixed assets costing £400 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All cosls incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Assets in the course of construction are included at costs incurred to date. Depreciation on these
assets is not charged until they are brought into use.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives,
Depreciation is provided on the following bases..
Fixtures and fittings
Office equipment
250/0 reducing balance
25 % reducing balance
Page 17

ORIEL DAVIES GALLERY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting pollcies Icontinuedl
2.8 Investments
Fixed asset investments are a form of financial inslrument and are initially recognised at their
transaction Cost and subsequently measured at fair value at the Balance Sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on
investments, in the Statement of Financial Activities.
2.9 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks.
2.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three month5 or less from the date of acquisition or opening of the deposit or similar account.
2.12 Liabilltles and provlslons
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the
debt or the amount it has received as advanced payments for the goods or services it must provide.
2.13 Financial instruments
The charitable company only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value.
2.14 Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight
line basis over the lease term.
2.15 Penslons
The charitable company operates a defined contribution pension scheme and the pension charge
represents the amounts payable by the charitable company to the fund in respect of the year.
Page18

ORIEL DAVIES GALLERY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting pollcles (continued)
2.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the charitable company and which have not been designated
for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charitable company for particular purposes. The costs of
raising and administering such fund5 are charged against the specific fund. The aim and use of each
restricted fijnd is set out in the notes to the financial statements.
Investment income, gains and losse5 are allocated to the appropriate fund.
Income from donatlons, legacies and capital grants
Unrestricted
funds
2025
Restrlcted
funds
2025
Total
funds
2025
Total
funds
2024
Donations
National Contemporary Art Gallery for Wales
capital grant
1,173
1,173
2, 774
874,430
874,430
164,344
Total 2025
1,173
874,430
87S,603
167,118
Total 2024
2, 774
164, 344
167,118
The government grant from Arts Council Wales is restricted for capital improvements.
Page19

ORIEL DAVIES GALLERY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Income from charitable activities
Unrestricted Restricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Other income from charitable activities
Exhibitions and related income
5,454
221,450
9.000
40,595
14,454
262,045
27,364
269, 473
Total 2025
226,904
49,595
276,499
296,837
Total 2024
259, 027
37,810
296,837
Exhibitions and related income
Unrestricted
funds
2025
Restricted
funds
2025
Total
funds
2025
Total
funds
2024
Arts Council Wales Revenue Grant
Powys County Council - Criw Celf
Powys Revenue
ACW Create
Powys County Council Projects
Arts Council Wales other grants
Open Newtown
221,450
221,450
227, 128
14,475
4. 535
10,604
2,000
8,991
19,000
10,604
2,000
8,991
19,000
1,775
2,526
19,034
Total 2025
221,450
40,595
262,045
269. 473
Total 2024
231,663
37,810
269,473
The above table includes govemment grants from Arts Council Wales and Powys County Council.
Page 20

ORIEL DAVIES GALLERY
(A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Other Income from charltable actlvltles
Unrestrlcted Restrlcted
funds
funds
2025
2025
Total
funds
2025
Total
runds
2024
Sales of publications
Education work shop fees
Consultancy & other services
Venue hire fees
Event and ticket sales
Sales of work
Other earned income- ON I R0250 1 PCC
Projects
Grants - non exhibition related
391
1,273
1,354
829
391
1,273
1,354
829
79
3, 248
5,232
1,377
2,253
3,364
1,599
1,699
4,000
4,000
5,000
11,811
5,000
Totsl 2025
9,454
5,000
14,454
27,364
Tot812024
27,364
27,364
Income from other tradin9 actlvlties
Unrestrlcted
funds
2025
Total
funds
2025
Total
funds
2024
Cafe income
Shop and internet sales
12,584
12,793
12,584
12,793
36,258
31,745
25,377
25,377
68,003
Total 2024
68,003
68,OQ3
Page 21

ORIEL DAVIES GALLERY
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Investment income
Unrestricted
funds
2025
Total
funds
2026
Total
funds
2024
Investment incorne
3,893
3,893
6,059
Total 2025
3,893
3,893
6, 059
Total 2024
6,059
6, 059
Other Incoming resources
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Museum & Galleries Exhibition Tax Relief
51,404
51,404
46,737
Total 2024
46,737
46,737
Analysls of expendlture on charltsble activltles
Summary by fund type
Unrestricted Restrlcted
funds
funds
2025
2025
Total
2025
Total
2024
Exhibitions and related activities
Shop
Cafe
299,943
27,811
17,852
101,819
401,762
27,811
17,8S2
350, 793
29, 694
44,511
345,606
101,819
447,425
424,998
Total 2024
374, 757
50,247
424, 998
Page 22

ORIEL DAVIES GALLERY
(A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysls of expenditure on charltable activities (continued)
Summary by fund type (continued)
Analysis of expendlture by activltles
Actlvlties
undertaken
directly
2025
Support
costs
2025
Total
funds
2025
Total
runds
2024
Exhibitions and related activities
Shop
Cafe
146,516
27,811
17,852
255,246
401,762
27,811
17,852
350, 793
29, 694
44,511
Total 2025
192,179
255,246
447,425
424,998
Total 2024
236, 761
188,237
424, 998
Analysis of dlrect costs
Exhlbltlon
costs
2025
Total
funds
2025
Total
funds
2024
Shop
2025
Cafe
2025
Staff costs
Exhibition Costs
Printing, p05tage, stationery &
marketing
Bank charges & interest
General expenses
Shop purchases
Bags, stationery and
consumables
Cafe costs
85,378
54,908
19,825
10,967
116,168
54,908
114,317
71,231
5,589
5,589
534
1,215
6,790
9,081
648
1,905
19,353
534
572
6,790
643
90
90
240
19,986
6,885
6,885
Total 2025
146,516
27,811
17,852
192,179
236, 761
Total 2024
162,556
29, 694
44,511
236, 761
Page 23

ORIEL DAVIES GALLERY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysls of expendlture by activities (contlnuedl
Analysls of dlrect costs (continued)
Analysls of support costs
Exhibitlon
costs
2025
Totsl
funds
2025
Total
funds
2024
staff costs
Depreciation
Water rates
Light and heat
Premises costs
Printing, postage & stationery
Rent
Insurance
Bank charges & interest
General expenses
Disallowable VAT
Governance costs
83,073
4,421
423
12,073
102,874
523
13,286
4,162
28
9,190
18,161
7,032
83,073
4,421
423
12,073
102,874
523
13,286
4,162
28
9,190
18,161
7,032
87,610
5, 699
900
10, 783
24. 161
311
13,286
4, 668
304
7, 635
26,969
5,91t
Total 202S
255,246
256,246
188,237
Total 2024
188,237
188,237
10.
Independent examiners. remuneration
2025
2024
Fees payable to the charitable company's independent examiner for the
independent examination of the charitable companYs annual accounts
Fees payable to the charitable company's independent examiner in respect
2,860
2, 625
All taxation advisory services not included above
All other services not included above
3,295
3, 080
180
Page 24

ORIEL DAVIES GALLERY
(A Company Llmlted by Guarantse
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11. Staff costs
2025
2024
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
176.503
13,343
9,395
181,807
11,798
8,322
199,241
201,927
The average number of persons employed by the charitable company during the year was as follows..
2025
No.
2024
No.
Administrative
10
10
No employee received remuneration amounting to more than £60,000 in either year.
The total remuneration and benefits received by key management personnel amounted to £69,979 (2024..
£67,609). Key management personnel comprise the Chief Executive Officer and Office Manager.
12.
Trustees. remuneratlon and expenses
During the year, no Trustees received any remunerats'on or other benefits (2024 - £NIL).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).
Page 25

ORIEL DAVIES GALLERY
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13. Tanglble fixed assets
Assets
Offlce
undèr
equlpment constructlon
Flxtures and
flttlngs
Total
Cost or valuatlon
At 1 April 2024
Additions
83,490
33,571
1,378
143,336
821,319
260.397
822,697
At 31 March 2025
83,490
34,949
964,656
1,083,094
Depreclatlon
At 1 April 2024
Charge for the year
83,203
72
17,566
4,349
100,759
4.421
At 31 March 2025
83,276
21,905
105,180
Net book value
At 31 March 2025
215
13,044
964,656
977,914
At 31 M8rch 2024
287
16,015
143,336
159, 638
Page 26

ORIEL DAVIES GALLERY
(A Company Limlted by Guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
14. Flxed asset Investments
Investments
In
subsldlary
companles
Cost or valuatlon
At 1 April 2024
At 31 March 2025
Prlnclpal sub8ldlario8
The following was a subsidiary undertaking of the charitable company..
Nama
Company
number
Holdlng
Relish NeW(own Ltd
08846659
100%
The subsidiary has remained dormant during the year with no financial activity.
15. Stocks
2025
2024
Finished goods and goods for resale
17,503
17,524
16. Debtors
2025
2024
Due wlthln one year
Trade debtors
Other debtors
Prepayments and accrued income
3,245
66,232
3.306
904
52,582
61,783
53,486
Page 27

ORIEL DAVIES GALLERY
IA Company Llmited by Guarantse
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17. Credltor8: Amounts falllng due wlthln one year
2026
2024
Trade creditors
other taxation and social security
Other creditors
Accruals and deferred income
157,900
3,004
470
39,310
119,024
2, 643
356
4,063
200,684
126,086
Page 28

ORIEL DAVIES GALLERY
{A Company Llmlted by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
18.
Statement of funds
Statement of funds - current year
Balance at
31 March
2025
Balance at 1
April 2024
Transfers
inlout
Income Expendlture
Unrestricted funds
General Funds
356,448
308,751
1345,606)
(2,170)
317,423
Restricted funds
PCC Collaborating for Change
PCC projects
Open Newtown
Hidden Young Lives l Raising
Aspirations
Club Crefft
Engage - New Routes
Urdd Eistedfodd - ACW
Ashley Family Foundation
ACW Art Workshops -
Newtown High School
Arts Council Wales - National
Contemporary Art Gallery for
Wales
Amgueddfa Cymru - CELF
Artist Commission 1
Amgueddfa Cymru - CELF
Artist Commission 2
NCAGW- Artist Commission
Grant
Alexandra Reinhardl Memorial
Award
1,000
(1,000)
283
1,916
283
11,916)
1,000
8,991
(2,0221
(183)
11,300)
(9,359)
(2,1121
1,022
8,808
1,300
9,359
5,000
2,888
1,245
(345)
900
164,344
874,430
(65,467)
(8,652)
964,655
4,000
(798)
3.202
2,000
(500)
1,500
12,000
116,5701
8,500
3,930
5,000
(247)
4,753
166,543
924,025
(101,819
2,170
990.919
Total of funds
522,991
1,232,776
(447,425)
1,308,342
Material Restricted funds comprise of..
Arts Council Wales Capital grant - Capitsl Investment Grant for the dispersed model of the Welsh
Government's National Contemporary Art Gallery.
Page 29

ORIEL DAVIES GALLERY
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 MARCH 2026
18. Statement of funds (contlnuedl
Statsment of funds - prfor year
B8lanGe 81
31 March
2024
Ba18nce at
1 April 2023
Income Expenditure
Unrestrlcted funds
General Funds
348. 605
382,600
(374, 757)
356,448
Restrlcted funds
PCC Criw Celf
PCC projects
Open Nevrtown
Diverse Voices
Hidden Young Lives l Raising Aspirations
ACW Art Workshops - Newtown High School
Arts Council Wales - National Contemporary
Art Gallery for Wales
Arts Coucil Wales - other grant
4,641
14,475
1,775
19,034
(19,116)
(1,492)
(17.118)
(4,452)
(537)
(5,000)
283
1,916
4,452
537
164,344
2, 526
164,344
(2,526)
14,630
202. 154
(50,241)
166,543
Totsl of funds
363,235
584, 754
(424, 998)
522,991
Page 30

ORIEL DAVIES GALLERY
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
19. Analysis of net assets between funds
Anatysis of net assets betsyeen funds - current year
Unrestrictad Restrfcted
funds
funds
2025
2025
Total
funds
2025
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
13,259
964,655
977,914
504,847
(200,684)
26,264
631,111
(200,884)
Total
317,423
990,919
1.308,342
Analys18 of net assets betweon funds - prfor year
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investrnents
Current assets
Creditors due within one year
16,302
143,336
159,638
466.231
(126,086)
23,207
489,438
(126,086)
Total
356,448
166,543
522,991
Page 31

ORIEL DAVIES GALLERY
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
20.
Reconcillatlon of net movement in funds to net cash flow from operatlng actlvltles
2025
2024
Net income for the year (as per Statement of Financial Activities)
785,351
159, 756
Adjustments for:
Depreciation charges
Decreasel(increase) in stocks
Increase in debtors
Increase in creditors
4,421
21
{8,297)
74,598
5,699
(3, 633)
{35,438J
107,348
Net cash provided by operating actlvlt18S
856,094
233, 732
21. Analysls of cash and cash equivalents
2025
2024
Cash in hand
451,825
418,428
Total cash and cash equlvalents
451,825
418,428
22. Analysls of changes In net debt
At 1 April
2024 Cash flows
At 31 March
2025
Cash at bank and in hand
418,428
33,397
451,825
418,428
33,397
451,825
23.
Penslon commltments
The Charity operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Charity in an independantly administered fund. The pension cost charge
represents contributions payable by the Charity to the fund and amounted to £9,395 (2024.. £8,332).
Contributions totalling £470 (2024= £356) were payable to the fund at the balance sheet dale.
Page 32

ORIEL DAVIES GALLERY
(A Company Llmlted by Guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Oporallng leasa commltments
At 31 March 2025 the charitable company had commitments to make future minimum lease P8yTnents
under non-cancellable operating leases as follows..
2025
2024
Not later than 1 year
1, 192
26. Related party transactions
During the year, the Company purchased IT services at the cost of £1,624 (2024.. 1,3521 from View
Creative Agency, a company of which S Cotton is a director. Incuded within this total is the amount of
£360 (2024.. £200) that was due at the year end and is included in accruals.
The spouse and daughter of the Chief Executive Officer have received the total of £7,953 for a
combination of running workshops, providing hospitalty and working in various other roles (2024-
£6,986).
Page 33