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← Ystalyfera Development Trust

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 02958170 (England and Wales) REGISTERED CHARITY NUMBER: 1058649

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

YSTALYFERA DEVELOPMENT TRUST

Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

YSTALYFERA DEVELOPMENT TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 14
Detailed Statement of Financial Activities 15 to 16

YSTALYFERA DEVELOPMENT TRUST

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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The company is a non-profit making organisation whose objectives are to promote the economic and social regeneration of the community of Ystalyfera in the Swansea Valley. When planning the activities for the year, the directors have considered the Commission's guidance on public benefit. The company was formed as a vehicle in which to further the objectives of a partnership of local authority and public bodies which was set up to regenerate the town centre of Ystalyfera. The partnership was successful in obtaining substantial funding to acquire and refurbish properties which were then transferred to the company as a means of endowing the community with these assets.

The charity is also promoting and assisting all organisations, clubs and entities by providing facilities and accommodation. The charity also manages the finance of numerous clubs on their behalf. Finally the charity continues its objectives of regeneration within the area, as well as the development and letting of properties.

ACHIEVEMENTS AND PERFORMANCE

Achievement and Performance

The company’s main source of funding during the year comprised of grants and letting of property for commercial and residential purposes. We also have a charity shop and café, the profits of which will fund the activities of the Trust. The directors consider that the company’s financial position at the balance sheet date was satisfactory. Core funding for 2025/2026, comprising grants from local authority (Community Regeneration Fund) has been obtained.

FINANCIAL REVIEW

Investment and Other Powers

The directors have the power to expend the funds of the company in such manner as they consider being beneficial for the achievement of the company’s objects. They are also empowered to invest such part of the funds as they see fit in the furtherance of the objects of the company.

Reserves policy

Ystalyfera Development Trust aims to build up reserves in future years to enable it to continue and expand the services they currently provide and develop new projects in the future. This policy will be reviewed annually or when significant changes occur within the organisation.

FUTURE PLANS

The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The organisation is a charitable company limited by guarantee, incorporated on 12th August 1994 and registered as a charity on 15th October 1996. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.The Memorandum of Association was updated on 12th March 2009.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purpose of charity law. The rules regarding the number of directors and their appointment, reappointment and removal are contained in the Articles of Association to which reference should be made.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

02958170 (England and Wales)

Registered Charity number

1058649

Registered office

22 Commercial Street Ystalyfera Swansea West Glamorgan SA9 2HR

Page 1

YSTALYFERA DEVELOPMENT TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Trustees

R Davies Councillor M Gladdish Teacher Ms A Christie Director Ms R C Makin Retired Ms J Manser-Thomas Civil Servant I Hawkins Retired P H Brandon Retired Mrs G Payne Retired School Teacher (appointed 16.4.24)

Independent Examiner

Alison Vickers Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Solicitors

Beor, Wilson & Lloyd Calvert House Calvert Terrace Swansea SA1 6AP

Bankers

Lloyds TSB Bank plc 113 HIgh Street Gorseinon Swansea SA4 4BR

REPORTING ACCOUNTANTS

Alison Vickers has indicated that she is willing to be re-appointed at the forthcoming Annual General Meeting.

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:

........................................................................ R Davies - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YSTALYFERA DEVELOPMENT TRUST

Independent examiner's report to the trustees of Ystalyfera Development Trust ('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 law) you are responsible for the preparation of the accounts in accordance with the requirements of 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(5) (b) of the 2011 Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. 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

  3. 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 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Alison Vickers

Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Date: .............................................

Page 3

YSTALYFERA DEVELOPMENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
44,895
Charitable activities
5
Promote economic and social regeneration of the
community
44,345
Other trading activities
3
44,505
Investment income
4
230
Total
133,975
EXPENDITURE ON
Charitable activities
6
Promote economic and social regeneration of the
community
114,662
NET INCOME/(EXPENDITURE)
19,313
Transfers between funds
17
3,513
Other recognised gains/(losses)
Gains on revaluation of fixed assets
-
Net movement in funds
22,826
RECONCILIATION OF FUNDS
Total funds brought forward
811,593
TOTAL FUNDS CARRIED FORWARD
834,419		 Restricted
funds
£
20,000
-
-
-
20,000
7,736
12,264
(3,513)
-
8,751
76,841
85,592		 2025
Total
funds
£
64,895
44,345
44,505
230
153,975
122,398
31,577
-
-
31,577
888,434
920,011		 2024
Total
funds
£
35,000
33,351
43,936
207
112,494
138,341
(25,847)
-
240,293
214,446
673,988
888,434

The notes form part of these financial statements

Page 4

YSTALYFERA DEVELOPMENT TRUST

BALANCE SHEET 31 MARCH 2025

Notes
FIXED ASSETS
Tangible assets
13
Investment property
14
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
201,809
408,912
610,721
5,840
224,754
230,594
(6,896)
223,698
834,419
834,419		 Restricted
funds
£
13,009
67,994
81,003
-
4,589
4,589
-
4,589
85,592
85,592		 2025
Total
funds
£
214,818
476,906
691,724
5,840
229,343
235,183
(6,896)
228,287
920,011
920,011
834,419
85,592
920,011		 2024
Total
funds
£
202,886
480,000
682,886
1,251
219,378
220,629
(15,081)
205,548
888,434
888,434
811,593
76,841
888,434

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

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:

............................................. R Davies - Trustee

............................................. J Manser-Thomas - Trustee

The notes form part of these financial statements

Page 5

YSTALYFERA DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. 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 (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', 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, as modified by the revaluation of certain assets.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Revenue grants are credited to the income and expenditure account during the period of expenditure. Capital grants are credited to the SOFA in restricted reserves and the depreciation on the assets to which they relate is charged to the Income and Expenditure account as restricted expenditure.

The value of goods for sale in the shops operated by the Charitable Company is recognised at the point of sale, as this is the earliest point at which it is practical to recognise such income.

Donations and similar incoming resources are recognised when they are received. Where a refundable income is received in respect of a specified event or project, the income is deferred until completion of that event or project.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office Equipment & Fittings 15% Straight Line Leasehold Property Improvements 2% Straight Line Motor Vehicles 20% Straight Line

Assets below £100 are not capitalised, but included within expenses. The Trustees do not believe any assets are impaired and do not carry out impairment reviews.

Investment Properties

FRS 102, requires investment properties to be accounted for using the fair value accounting rules, therefore:

a) revaluation differences are reflected in the profit and loss account; and b) the fact that no depreciation is charged is no longer a breach of the Companies Act.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Investment property was re-valued by Dawson in December 2023 and is shown at this valuation cost in the Financial Statements.

Page 6

continued...

YSTALYFERA DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

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 the general objectives of the charity and which have not been designated for other purposes.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes falling in future time periods.

Restricted funds are funds subject to specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Pensions

The pension costs charged in the accounts represent the contributions payable by the charity during the year in accordance with accounting requirements. The company is paying in to a defined contribution scheme.

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over lease term.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including 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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash at bank

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing 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.

Creditors

Short term creditors are measured at transaction price.

Provision for liabilities

Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Functional and Presentation Currency

The company's functional and presentation currency is pounds sterling.

Going Concern

The company continues to adopt the going concern basis in preparing its financial statements.

Page 7

continued...

YSTALYFERA DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

2. DONATIONS AND LEGACIES
2025 2024
£ £
Grants 64,895 35,000
Grants received, included in the above, are as follows:
2025 2024
£ £
CRF Funding 40,000 35,000
Co-Op Community Fund 500 -
Warm Spaces Funding 4,395 -
Community car 20,000 -
64,895 35,000
3. OTHER TRADING ACTIVITIES
2025 2024
£ £
Fundraising events 461 1,237
Shop income 44,044 42,699
44,505 43,936
4. INVESTMENT INCOME
2025 2024
£ £
Interest receivable - trading 230 207
5. INCOME FROM CHARITABLE ACTIVITIES
2025 2024
Activity £ £
Promote economic and social regeneration
Room Hire of the community 7,934 6,494
Promote economic and social regeneration
Trust Services of the community 3,003 2,881
Promote economic and social regeneration
Rental Income of the community 27,815 21,639
Promote economic and social regeneration
Sundry Income of the community 1,596 73
Promote economic and social regeneration
Community car income of the community 3,997 2,264
44,345 33,351
6. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 7) Totals
£ £ £
Promote economic and social
regeneration of the community 114,180 8,218 122,398

Page 8

continued...

YSTALYFERA DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

7. SUPPORT COSTS

SUPPORT COSTS
Support
Management costs Totals
£ £ £
Promote economic and social regeneration
of the community 4,500 3,718 8,218
OTHER
2025 2024
£ £
Support costs 8,218 9,297
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2025 2024
£ £
Depreciation - owned assets 4,500 1,594

8.

9. NET INCOME/(EXPENDITURE)

10. 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.

11. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Administration and Management
No employees received emoluments in excess of £60,000.		 2025
£
49,166
2,918
52,084
2025
2		 2024
£
45,295
2,641
47,936
2024
2

No remuneration was paid to directors, and no expenses were reimbursed. No employee earned more than £60,000 during the year.

Page 9

continued...

YSTALYFERA DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
35,000
Charitable activities
Promote economic and social regeneration of
the community
33,351
Other trading activities
43,936
Investment income
207
Total
112,494
EXPENDITURE ON
Charitable activities
Promote economic and social regeneration of
the community
138,341
NET INCOME/(EXPENDITURE)
(25,847)
Transfers between funds
3,981
Other recognised gains/(losses)
Gains on revaluation of fixed assets
240,293
Net movement in funds
218,427
RECONCILIATION OF FUNDS
Total funds brought forward
593,166
TOTAL FUNDS CARRIED FORWARD
811,593
13.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
property
fittings
£
£
COST OR VALUATION
At 1 April 2024
200,000
46,189
Additions
-
171
At 31 March 2025
200,000
46,360
DEPRECIATION
At 1 April 2024
-
43,303
Charge for year
-
1,248
At 31 March 2025
-
44,551
NET BOOK VALUE
At 31 March 2025
200,000
1,809
At 31 March 2024
200,000
2,886		 Restricted
funds
£
-
-
-
-
-
-
-
(3,981)
-
(3,981)
80,822
76,841
Motor
vehicles
£
-
16,261
16,261
-
3,252
3,252
13,009
-		 Total
funds
£
35,000
33,351
43,936
207
112,494
138,341
(25,847)
-
240,293
214,446
673,988
888,434
Totals
£
246,189
16,432
262,621
43,303
4,500
47,803
214,818
202,886

Page 10

continued...

YSTALYFERA DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

13. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2025 is represented by:

Valuation in 2024
Cost
14.
INVESTMENT PROPERTY
FAIR VALUE
At 1 April 2024
and 31 March 2025
AMORTISATION
At 1 April 2024
Charge for year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Freehold
property
£
60,050
139,950
200,000		 Fixtures
and
fittings
£
46,360
-
46,360		 Motor
vehicles
£
16,261
-
16,261		 Totals
£
122,671
139,950
262,621
£
547,841
67,841
3,094
70,935
476,906
480,000

Investment property is shown at most recent valuation. Freehold investment properties was re-valued by Dawson in December 2023.

Fair value at 31 March 2025 is represented by:

Valuation in 2024
Cost		 £
160,650
387,191
547,841
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income		 2025
£
-
5,840
5,840		 2024
£
282
969
1,251

Page 11

continued...

YSTALYFERA DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Accrued expenses		 2025
£
1,989
489
4,418
6,896		 2024
£
3,279
8,302
3,500
15,081
17.
MOVEMENT IN FUNDS
At 1.4.24
£
Unrestricted funds
General fund
96,701
Designated Capital Fund
374,599
Future Running Cost Fund
50,000
Planned Maintenance Fund
50,000
Revaluation reserve
240,293
811,593
Restricted funds
NPTCBC-Community car scheme
8,847
Capital Restricted Fund
67,994
Community Car grant
-
76,841
TOTAL FUNDS
888,434
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
NPTCBC-Community car scheme
Community Car grant
TOTAL FUNDS		 Net
movement
in funds
£
19,313
-
-
-
-
19,313
(745)
-
13,009
12,264
31,577
Incoming
resources
£
133,975
-
20,000
20,000
153,975		 Transfers
between
At
funds
31.3.25
£
£
(8,840)
107,174
12,353
386,952
-
50,000
-
50,000
-
240,293
3,513
834,419
-
8,102
(3,513)
64,481
-
13,009
(3,513)
85,592
-
920,011
Resources
Movement
expended
in funds
£
£
(114,662)
19,313
(745)
(745)
(6,991)
13,009
(7,736)
12,264
(122,398)
31,577		 At
31.3.25
£
107,174
386,952
50,000
50,000
240,293
834,419
8,102
64,481
13,009
85,592
920,011
12,264
31,577

Page 12

continued...

YSTALYFERA DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Designated Capital Fund
Warm Space Fund
Future Running Cost Fund
Planned Maintenance Fund
Revaluation reserve
Restricted funds
NPTCBC-Community car scheme
Capital Restricted Fund
TOTAL FUNDS		 At 1.4.23
£
116,309
375,657
1,200
50,000
50,000
-
593,166
9,315
71,507
80,822
673,988		 Net
movement
in funds
£
(24,647)
-
(1,200)
-
-
240,293
214,446
-
-
-
214,446		 Transfers
between
funds
£
5,039
(1,058)
-
-
-
-
3,981
(468)
(3,513)
(3,981)
-		 At
31.3.24
£
96,701
374,599
-
50,000
50,000
240,293
811,593
8,847
67,994
76,841
888,434

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
CRF Funding
Warm Space Fund
Revaluation reserve
TOTAL FUNDS		 Incoming
resources
£
77,494
35,000
-
-
112,494
112,494		 Resources
expended
£
(102,141)
(35,000)
(1,200)
-
(138,341)
(138,341)		 Gains and
Movement
losses
in funds
£
£
-
(24,647)
-
-
-
(1,200)
240,293
240,293
240,293
214,446
240,293
214,446		 Gains and
Movement
losses
in funds
£
£
-
(24,647)
-
-
-
(1,200)
240,293
240,293
240,293
214,446
240,293
214,446
214,446
214,446

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated Capital Fund
Warm Space Fund
Future Running Cost Fund
Planned Maintenance Fund
Revaluation reserve
Restricted funds
NPTCBC-Community car scheme
Capital Restricted Fund
Community Car grant
TOTAL FUNDS		 At 1.4.23
£
116,309
375,657
1,200
50,000
50,000
-
593,166
9,315
71,507
-
80,822
673,988		 Net
movement
in funds
£
(5,334)
-
(1,200)
-
-
240,293
233,759
(745)
-
13,009
12,264
246,023		 Transfers
between
funds
£
(3,801)
11,295
-
-
-
-
7,494
(468)
(7,026)
-
(7,494)
-		 At
31.3.25
£
107,174
386,952
-
50,000
50,000
240,293
834,419
8,102
64,481
13,009
85,592
920,011

Page 13

continued...

YSTALYFERA DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
CRF Funding
Warm Space Fund
Revaluation reserve
Restricted funds
NPTCBC-Community car scheme
Community Car grant
TOTAL FUNDS		 Incoming
resources
£
211,469
35,000
-
-
246,469
-
20,000
20,000
266,469		 Resources
expended
£
(216,803)
(35,000)
(1,200)
-
(253,003)
(745)
(6,991)
(7,736)
(260,739)		 Gains and
Movement
losses
in funds
£
£
-
(5,334)
-
-
-
(1,200)
240,293
240,293
240,293
233,759
-
(745)
-
13,009
-
12,264
240,293
246,023

The Designated Capital Funds represents the balance of the fixed assets funded out of accumulated surpluses.

The Running Cost Fund represents six months of future running costs for the charity.

The Planned Maintenance Fund is for future repairs needed on the properties.

The Revaluation Reserve represents the balance of revaluation of a freehold property held for investment purposes.

The Capital Restricted Funds represents capital grants received in respect of the extension of the property and furniture grants received in respect of office equipment.

18. EMPLOYEE BENEFIT OBLIGATIONS

The company operates a defined contribution pension scheme. Pension costs charged during the year amounted to £2,918. (2024 - £2,641).

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

Page 14

YSTALYFERA DEVELOPMENT TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

INCOME AND ENDOWMENTS
Donations and legacies
Grants
Other trading activities
Fundraising events
Shop income
Investment income
Interest receivable - trading
Charitable activities
Room Hire
Trust Services
Rental Income
Sundry Income
Community car income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Pensions
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Training
Teacher & tutor costs
Cleaning
Repairs, renewal & maintenance
Buffet and refreshments
Purchases for social events
Subscription and membership
Photocopier leasing
Computer expense & maintenance
Charity shop costs
Donation
Community Car
Roof replacement costs
Grant repaid
Long leasehold
Depreciation of fixtures
Motor vehicles
Support costs
Management
Wages		 2025
£
64,895
461
44,044
44,505
230
7,934
3,003
27,815
1,596
3,997
44,345
153,975
44,666
2,918
184
4,052
5,394
835
350
2,422
242
710
2,705
19,832
-
796
253
662
108
16,223
1,280
2,953
-
1
3,094
1,248
3,252
114,180
4,500		 2024
£
35,000
1,237
42,699
43,936
207
6,494
2,881
21,639
73
2,264
33,351
112,494
40,745
2,641
289
5,469
7,465
794
964
884
730
830
2,540
19,678
56
1,135
330
526
158
19,681
430
2,061
16,950
-
3,094
1,594
-
129,044
4,550

This page does not form part of the statutory financial statements

Page 15

YSTALYFERA DEVELOPMENT TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
£ £
Management
Support costs
Accountancy fees 3,254 2,947
Professional fees 464 1,800
3,718 4,747
Total resources expended 122,398 138,341
Net income/(expenditure) 31,577 (25,847)

This page does not form part of the statutory financial statements

Page 16