Y FELIN DDWR CHARITABLE TRUST TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 CHARtTY COMMISSION NO 1054567
Y FELIN DDWR CHAIUTABLE TRUST TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR YEAR ENDED 301.11 JUNE 2024 CONTENTS PAGE Ti'ustees <tnd thcii. A(Ivisoi's Ti'ustees Report 2&3 Trustees Declaration Independent Exaininei's StateinLnt Revenue ALLount Net Assets Sialeinent Notes to ihe Financial Stateiiient
Y FELIN DDWR CHARITABLE TRUST TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENED 301.11 JUNE 2024 TRUSTEES: R K Chui'Lh C Stephen BANKERS., Bai'Llays Bciiik PIC Ciiy ol. Cai'cli I'l. Bl'anch Cai'(lif'l' Gi'()up ol. Bl'anches Ci¢ I'dif'fcFI I SCJ SOLICITOR,, R K CliurLh Mill BuildiiigFS Pai'kinill Sw(InsLa SA3 2EH INDEPENDENT EXAMINER: Gai'eth Tliomas )() CJlll)11 Park Rd Neaih
Y FELIN DDWR CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 30111 JUNE 2024 The Tiust¥e% al-e pleased to pi'esent iheir annual repoi-l and financial slateInent t"oi' the year ended 30 June 2024. I. GENERAL INFORMATION Y Felin Ddwr Chai'itable Trust was established by a Deed on the 27 Noveinber 1995, and was entei'ed into the Cenli'al RegiistLI' of. Chai'ities on the 12 Api'il 1996. The puryose ol. the Chai'ity is to un(leitake the i'estoi'alic)n ancl peimianenl l)re8ei'vation for ihL benel it ot. tlie public enerally c)t' ThL' Mill (It Y Felin Ddwr, Pai'kinill, GowLI' anLI to pi'()niole the eduLalic)n of. Ihe publiL cib()ut the histoi'y ol" Y Fclin Dclwi., il 12 ' C.LntUly Wdtei. i)owerecl Loi'n niill, tOgFether wilh tliL I'ui-al ¥i'at"I woi'k%li(Ips Lslabl isliL'cl on tlie Mill sitL. 2. FINANCIAL REVIEW AND REPORT ON PUBLIC BENEFIT The Luri'ent year Lontiiiued thL' I'LLovei'y froni tlIL impact of ihe Covid 19 PandemiL with the M 111 sitc (IblL' tc) b¥ ()i)L'n thi-c)ugyhout tliL yLal'. Dui'iiigy Il]L' Luri'ent aLLounting year, the Cliai-ity has L()nlinued the tti%k i)f' tl)L ui)keLI) ol. IhL" Wi)tLI'ini11 cin(I Ihe pi'c)In()li()n ol. LcluLati()niil and othLI' visits t() Y FL'lin Ddwi.. WIILII PC)s%iblL', Tlie Ti'iist ha% c()iitinuLcl 114 pc)liLy of. sLeking visitoi's Iroin the PLibli¢ al lai'gJL ¢iiid Ii'i)In Icifg7L'le(l %LLlc)1's ancl si)L'Lial inl¥i'L',%t gFI'c)ups. The Ti'u%teL's h<ive usLcl tlie inc()Iiie I'L'LeivL(I li'oIn vi.4ilc)1'S iincl cloii(Ilic)ns lowai'ds IIIL LO%t ol. arrdng?ing and promotin& gFI'OUP an(1 L'duLati()nal visits and pi'e8LivingF IIIL buildingy and sti'uLlure ()t' Y FLlin Dclwr, DuI'ing ihL ye(Il' tuithei. w()rk was dc)nL on the pi'eservalion of tlie Mill Building, inLlucling pl(Int and Ina¥hineiy in thL' Mill and woi'ksh(Ip%. A vai'iety of. Li'ati w()I'ksliops wei'L held in ilie Mill Buildiii&ys lor clilli'r¢iil gii'oups ol. visitors. The Ti'ubt <ilso pi-oinote(l %ubsidiscd vi.%il.s lo tlIL sitL by s()Li(Illy cxLILI(le(I gJi'oups by olli'ringi i-edu¥L'd oi. fi'ee entI'y Lliai'gycb. Visil()i' nuinbei's have nol I'etui'iied t() l)I'L' P¢indeiiiiL IL vLls a,% the Cenli'e di)Ls nol of"tL'r tlie saine levcl of aLtivitiLs. ThL' l()ss ol. visit(Ii' incuiiie i-cvenue lias not bL"Lii ds gFI'e<il as the pi'evious yeai., As WLII <iS Vlsltoi. inL()Iiie the Tru%1 was f()ItuniilL to I'eLLivL' d()n(Iticins to assist with day to day costs as well as gFI'ants li'om Welsh Govei'ninent ot" £7870 uiidLI' IhLii' Events initiative ancl £4844 fi'oin the Levelling Up Fund undei. tlIL Rui'iil AnLhoi' .sLhcine set UE) by Swansea City Council. The Tivst also benefited li'oin Ill<ltLh¢d donations received ti'oin ilie Bigi Give oi'gani%iltic)n. Payinents ol. Lo<in intcrest and capilal were Iiiade on a loan Irom the DevelopinLnt Bank ot. Wales. The Trustees confirm that iliL'y have relen'ed io the Charity Cominission'8 guidanLe on public ben¢lit when i'eviewing the Ti'ust's aims and objcLtive% in pl(Inning t"ului'e aLtivities' and setting policy foi- thc future year. The Chai'iiy has made its facilities available for some other charilable and local gyroups during th¢ yeai.. The TiS(S mi8sicin is to pi'esLrve and intcrpret to the widest possible audience the histoiy and hei-itagTre ot. Y Felin Ddwi. and to enrich the visilors expei-ience with deinonstrations, talks, events and innov<itive eduLational pi-ogyi'dmmes. New cratt experience8 were pro)Inotcd dui'in& the yeai., including tlie Gower Good Fc)cid Project with gFI'ant funding li'oni WL'lsh CJovLmment and the Gowei" Loal" Project to focus on Inakinby floui- to pI'oduLe the hisloriL CJOWel' Loat-Inade foi'tn a mixtui-e ot. wheal and Barley.
Repairs wei'e indde to the Mill and equipment to enhance its tlour making process, and opei-ation ol.the othei. historic machineiy. The Ti'ustees review the activities ol. Ihe Chai'ity agyainst its aims on an ongJoingF basis and are satftqliecl ihat all &lCtivities continue Ici be rclatLd to ihese goals so fai. as iliey wct'e ablL during the I'ecovery from the Pandeinic The Trust has also woi'ked with othei. l()Liil orgianisalions to pi'oinote t"uAlher use of. the facilities at the Centre and to L'duLdte ihe Public in ilie use of I'Lnewable enei'gy. Woi'ksliops have been held loi. visils oi'gsc1nised by othei. SOLicil glroups and Li'allwi)I'kci's basecl al the CL'ntre. The Centi'e lias contiiiuecl tc) supp()rt the cl¢vLlc)i)ment of a C()Ininuniiy Sc)lar P<irk ()n land in Dunvant used foi. il% lai-liiing, loi'csliy and aiiiiii<il iiilLI'csl% iind (Il Ihe yeai. end a gyi'ant was beinsy ai'i'angFed with Ynni Cyiiiru to develop a sincii1 local enLI'gy systL'in ai ilie Farin. 3. EXPENDITURE INCURRED The niain operatingF cos18 Ill. IIIL Cliai'ity dui'iiigi the yeai. hclVL' I'L'latLd io thL m<inagNeiiiLnl of the sitc, ()rby¢ini%ingF (incl adiiiinistralic)n ol. e(ILIL211ic)n<il <inLI oihei. bYI'OUI) Vl4lt8, ancl IliL Ill<iinlL'nanLe ol. the Mill Bui Idingis. SoiiiL ExpinsL' li£15 cilso bL'Ln inLui'I'c'd in pi-()InotinLY and adv¢rti%ingy the Mill and in pi'i)vidingi SLI-viLes t() %Llic)ol% aiid c)Iliei' g)I'()UP.% Lising iliL Mills Cli1S,ql'O()In t"a¢ilitics. Dui'ing ihe year aclcliti()nal woi'k tc)()k plaLL iniludingy L(Ipilal exp¢nclitur¢' on the Mill Buildingy and exliibils. ThL Ti'ubt has providLd adcliti()iial public bciiL'lit by allowing visit% to tlie Centi-e at rL'dLILed an(1 sub%idised i'atL's c)I' enli'y foi. b()Ih Ic)C£il vibitoi's and Lertain speLial c(IuL<lti()nal nL'L(I gyi'()ups. H istc)riL<il I'e-enii¢linLnt gyroups were al%() ollirL'd usc ol. thL taLililiLs cind wc)I'k%li()P% (It IliL' CLnlI'L, A lew EvL'nt% WLI'L Lil%() IILld on bL'hall' ol. c)Iher l()cal nol loi. i)I'c)lit gFI'C)Ul)s. TIIL Cliai-ily cil%() Lxpan(IL'd its Icll-iiiingy ()PLI'<ttion in Dunvanl with aildilioniil planlingi (in(1 Lreating) ()pp()IlunitiL'S 1()I' voluIitLLI'&* to wc)I'k c)n tIiL liin(l. 4. ACCUMLATIVE SLJRPLUS Dui'ingi tlie ye<ll' IhL Chai'ity has made a sui'plus of. iiiLome ov¥i' expenditure in the suin of. £7510.C)4 (2(123 £3(184.48). Tliis suin will be rclaine(l and used t()wai'ds buil(lingy ancl i'epair w()rks in IIIL iiext ¢icLounling y¢ai-, 5. BENEFITS PAID The Charity has made iio bcnelici(Il payments oi. (lonations to anyone in its Iinancial year, othei. Ihan Lollections for otlier charitiL's. The Cliai'ity also offei-s free or discounted u'nlry lo Ihe Mill Buildingy to selectcd I'LLipients in lieu of a charilable bequest. 6. ORGANISATION The Ti'ustees ai'¢ responsible for the sti'ategFiC dii'eLli()n and poliLy ot.tlie Chdrity and nieet on a reglular basis. Day tc) day operali()ns al'e Lai'l-ied out by staff and volunteers who rcpoi'l to th¢ Ti'ust¢es. The site is marketcd as The Gower Heritagye Centi'e. Man<ig?ement serviLes were provided by GHC (Management) Limited a conipany conli'olled by ihe Trustees and all services were chai'gjed at a Lominei'cial market rate. The solar pai'k projeLt takes plaLe on laiinland Lc)nti'ollcd by the Tiustces and all ti-ansaLlions in resi)ect ot" the scheme al'e at a commercial l'ate. Sc)Ine of ihe Events, larming and aLlivities held at tlie Centi'¢ arc cai'i-ied out by a separ(ite Ira(lingy COillEiany CJciwei- Hei'itage Ltd, which is conli-olled by the Tiustces and any pi'ufits al-e held foi. the beIielit ol. the Ti'ust. Sepat'ate accounts al'e pi'epared loi. Gower HeL-Itagye Ltd.
During the year the Trustees Lontinued io licencc out the Latering and oiher activities at the
Cenli'e as a Loncession t() sepai'ate and independenl It'<iclingJ LonLei'ns.
The Trustees al%() allow the Chai'it<ible Trusl to usc othei- l(Ind Lonti'olled by thein and adjacent
to the Centre foi- car parkinsi, workshops and fai'iiiiiigy at a Loininci'Lial rate.
7. TAXATION
The Charity is exeinpt fi'om taxalion.
8. AUDIT
The Charity has received incoiiie and donations ol. £1521)35.57 (2023 £138.306.91) in its
linancial year and h<iS appoiiiled an Indepen(lent Ex
INDEPENDENT EXAMINERS REPORT The Chai'ity's Ti'ustees considei. that an audit nc)t requiI'ed loi. this ye(Ir under section 144 of the C.hai'ities Act 2011 (the Act}, and that an indepeiidenl examiniltion As needed. It is my i'csponsibility tc): ExaIninL thL (ILLoiints uncler section 145 01. the Act. To t"ollow th¢ pi'()LLclurLS laicl down in Ilie Genei'al Directions given by the Chai'ity Commissi()n (uiidLI' seLtic)n 145(5)(b) ol" Ilie ALt,), and To stale whethei. i)ailiculai' Inatlei'8 Iiave coine l() Iiiy attention. My exaiiiinalion was Lan'ied oiil in accoi'dance with the CJeiici'al Dii'eLtions gFiven by ihe Chai'ity Comini.%sionLI's. An exaiiiiniltion inLlucles a i'L'viLw ol. Ihe aLLountingF I'ecords kept by th¢ Cliarity and a Loinpui-isc)n of" tIIL' ¢lLL()unts pi-L'senl¥(I willi Ih(Ise i'eLClI'ds. It also iiicludes consi(IL'I'alion ()I' any un115ual ileins ()I' disLlosui'es in ilie aLLount8, an(1 seekiiigl cxplanations tr()ni IhL Ti'ustcLs LonLei-niiigy any 8uLII 111(Itlei-s. TIIL. pi'()cL'(Iui'L% unclLI-tcikL'n clo not pi'()vi(IL all tlic LvidLiice Iliul wc)Lilcl bL' I'L'(iuirud in an auclit, (In(1 c()n%LquL'nily no c)pini()n 18 byivLn as lo whL'thL'I' IhL (ILLC)Linl% pi-LsLnl a 'li'ue an(1 fail viL'w Liiicl the I'L'p(11l 18 liinitLcl i() th()s¥ in¢lttLI'S set oul in ihe Stalement below. In L()nnLction wilh my exaiiiinati()n, no maller has LomL' lo iny altenti()n. which gvivcts InL I'ca.sonablc C¢lLlSL Ic) beliLvL th¢il in any malei'ial i'LspeLt ihe rLqUlI'LllIL'nts lo keLp dLL()uiilingy reL()I'Ll% in aLLOI'danLe with s¢Lti()11 130 c)I' IhL' ALt; and i() prep(Ire (ILLC)unts wliiLh ac¢()rd with tliL <iLL(iuiilingi r¥'L()i'clb iin(l io Lomply with Ilie ilCL()unli iigy I'LqU ii'LinLnls ()I' the Ait liavL IlC)t beLn IiiL't' {)]- to whicli, in my (Ipinion, attcnlion sliould be di'awn in oi'dei- to enable a pi'opei. undei'standinbl ol. tliL accounts to be reaLhL'd, SigFned.......................................................................Dale.... .2025 Cjai'eth Thomas 99 Gnc)11 Park Roa(1 Neaih
Y FELIN DDWR CHARITABLE TRUST REVENUE ACCOUNT JUNE 2024 Year to dale Yeai. to date 2024 2023 Recei Noles U.estriCted Visiloi. Incoine ( l ) Rcsti-icted Donalions Bank Interest Gi'ants Total income 12837C).35 11822.()6 18,()6 12714.60 152l)3S.57 136303.79 2000.00 3.12 0.00 138306.91 Inents Genei'al Expens¢s EleLtriLity/CJas Pl<ini RLpaii' Cosl Purcliases TLIL'plionL'IPc)sl£igie/lT A(Iiiiin iincl wagyL Losts BuildingF RLpair SLlI()ol, gFI'OUP Visit Co%ts Guided Toui., w()i'ksliop Costs Advertisingp Costs B(Ink Chai'gFes,& inlei'est Sialioneiy and printin Pi'i)peiiy Rates and i'ents Cleanin Insui'dnce Pi-otessional Fees Aniinal cal-e Lo.sls Previous year adjuslment (2) ().uu 8()0(i.(10 250(1,00 8828.05 2.34(i.(i(I 3()2C)(1.72 -35553.72 i o I cj{i.{)() )588.84 1555.()(I 1601.7(1 2000.00 7150.uo 8768.00 4300.00 ()110.00 4C)58.60 0.00 100.00 7345.17 1500.00 7885 C)0 15()1).i)i) 32122,00 36259.C)C) 27(1(l.(111 10983,00 2610.00 1()82.17 2450.80 10200.00 10348.00 2200.00 300.00 4135.40 0.00 (3) (2) Gross Expendilui'e Net Surplus 145424.63 7510.94 134622.43 3684.48
Y FELIN DDWR CHARITABLE TRUST NET ASSET STATEMENT AND BALANCE SHEET FOR THE YEAR ENDED 30111 JUNE 2024 Notes Yeai. tci date Year to date 2023 2024 Mill BuildingTS Mill Plant & MdLhineiy Fixlui'es and Fitting)s (4) 233?84.74 73288.94 40068.47 230284.74 73?88.94 40068.47 346642.15 343642.15 Cui'i'ent As%Lts Debtor8 ALLount Baiik <iiid Cash Sic)Lks (5) 6499.96 346.40 4572.14 4()6.40 (6) )846.36 5()()8.54 CurrL'ni LiiibililiL's Ti'ade Credit()1'8 C¢ipilal DoIi¢Jlions HLf Gi'anl Solar Array Project 0.00 71143 2.(14 45000.00 .l.Q41.,J.I 0.00 76432.04 45000.00 51641.11 (7) Total Lurrent Liabilities 173073.15 173073.15 Net Cuen1 Lidbilitics (166226.79) (168004.61) Bank Loan 17348.34 20081.46 Total Assetb less liabilities 163067.02 155556.08 Financed by Accumulative Fund Suiylus/Loss ALcount Pi-evious yeai. adjusliiient 155556.08 7510.94 151871.60 3684.48 nil Approved by tho Tiustees on 2025 CHURCH
Y FELIN DDWR CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30111 JUNE 2024 ACCOUNTING POLICIES The FinanLial Staleinents have been prepared in aLL()I'dance with thL Lui'i'Lnt Charities Stateinent ()f Recoiiimeiide(I Pi-£lLtiLL and ihL Cli(11-itiLS (ALLountS iind RL'porls) RegFulalic)n.s appliLable to cliai'iliL.8 Pl'Lpai-ing tlieir aLL()unls in aLLOI-danc¢ with tlie Financial RL'poi'tin St¢indard toi. Sniallei. Entities. The account has beLll pi'L'pai"ed on a reLeipis and payment ba.8is and .%ummarise the transaLlions of. tli¢ Chai'ity and ilie assets and 8liort term l i(Ibi l ilies at ihe yLai' end. I. RECEIPTS These represent ilie gFross ainounl8 recLived uncl acLI'uLd li'()In unresli'iLILd dc)nations and visitoi. incoiiiL. 2. GENERAL EXPENSES Thcsc I'clcltc to day to (l<ly gTLnci'al Qosls in pi'oviding gyuided t()ui'4 an(1 classes to visiting sLliool byi'oupS (Ind other LLluLali()iial vi.sits. 3. BUILDINCI REPAIRS This relatL's l() ¢xp¥nsL's inLui'i'L(l in the upkLL'p and Inainteniince ot. tlie Mill Building, woi'kh()ps, exhibits and Coltagie at Y Felin Ddwi.. 4. FIXED ASSETS These al'e valued at aLquisition Losts plus any capiliil iinpL'ovein¢nts or adjuslments. 5. DEBTORS This I'epi'Lsents visitoi. income due but not yet received al the yeai. end. 6. STOC.KS This relates to ilie net ccist of. stocks ot" pi-omolional br()Lhurcs and items held dt the year end. 7. CAPITAL DONATIONS This I'epresents donations receivecl specifically foi- the puiyoses of restc)i-ingF the buildingy fabi'ic ol.the Mill Buildin&.