REGISTERED COMPANY NUMBER: 02228346 (England and Wales) REGISTERED CHARITY NUMBER: 1072035 Tqdd4fflTrM MLILrfLI Ptyfter I Iivlttvotino G()nfidenLO REPORT OF THE TRUSTEES AND AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR TYDDYN MON wjilliomsdenton
TYDDYN MON CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR EF4DED 31 MARCH 2024 Page Report of the Trustees i to io Report of the Independent Auditors 11 to 14 Consolidated Statement of Financial Aetivities 15 Group Consolidated Balance Sheet 16 Charitable Company B212nce Sheet 17 Consolidated Cash Flow Statement 18 Notes to the Consolidated Cash Flow Statement 19 Notes to the Consolidated Finanelal Statements 20 to 31
TYDDYF4 MON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trust¢¢s who are also directors of the cbarity for the purpos¢s of th¢ Companies Act 2006, present their report with the financial statement5 of the charity for the year end¢d 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of R¢¢omm¢nd¢d Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (eff¢etiv¢ l January 2019). OBJECTIVES AND ACTIVITIES Objeetives and aims Tyddyn Mon charity has a long history of deliv¢ring high quality services to individuals with a learning disability and supporting them to shape their own lives. Th¢ Charitable Company's objects and principal activiti¢s are to: To promote and assist the g¢n¢ral r¢li¢f of all people with a learning disability by providing and a5SlSting in the ntitirhinibp£ gnA r'niplniinif'nt fi)r .lD],. }11 Ith knl .prpillfS Hisribililv witb
TYDDYN MON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Slgnlflcant activities l. Day and work opportunities eentre- Tyddyn M6n farm The Day and work opportunities service is based at Tyddyn Mon Fann wbich is also the central office for th¢ Charitable Company. Funding for the project is primarily provided by Ynys Mon County Council and incom¢ r¢ceiv¢d from trading activities at Tyddyn Mon farni. A person centred and flexible service is provided and attendees receiv¢ support to develop new skills, build confldence alld reach their petsonal goals. There is strong evidence from our quality assurance processes that the day and work oppormnities service provided by Tyddyn Mon is highly valued by the people who attend, and that attendance improves their quality of life. In March 2024, 33 people were attending the day and work opportunities service witb an average daily attendance of 22. This rnrted an increase of 2 in daily attendance Compared to the previous year. As of March 31, 2024, the farni ernployed nin¢ staff memb¢TS, both 1] and part-tim¢, and administrative support was provided by the central team. Training, work experience and activiti¢s ar¢ provided in th¢ following ar¢as; - Hospitality and Catering - Perforniing Arts - Agricultur¢ and Animal care - Sports. Ex¢r¢ise and W¢llb¢ing activities - Ev¢nts - Arts. Crafts and Pottery - Woodwork - Textile Recyclillg - Cookery Life Skills - Merchandise design and Production The creative cabin at TYdd Mon farni has been refurbished duritig the year, and equipment has been purchas¢d to produce merchandise for events and on commission. The cabin now serves as the base for mercbandise production. In December 2023, the charity remrned to the local church in Amlwch for the Christmas Concert. Families, carers, staff, p¢opl¢ r¢¢¢iving support, trustees, and men]bers of the Community were invited to attend. The event featured p¢rforman¢¢s by individuals SUPPOrted by tbe charity. along with the college choir. One of the farn] attendee5 was appointed artist in residence and PTodu¢¢d artwork for m¢rchandise and promotional materials for the folk festival. Satellite technology was installed al Tyddyn M6n fann, where it has traditionally been difficult to g¢t cost-¢ffe¢tive internet due to the location and lack of mobile phone signal. This opens up the possibility of implementing mor¢ cloud- based systems, On¢ of th¢ individuals 5UPPOrted by the charity has made significant progress in his aspiration to become a DJ, thanks to a g¢n¢rous donation for DJ equipment. He has received training from a professional DJ and has begun bosting discos for Tyddyn Mon, which has helped boost his confidence and skills, paving the way for potential tUre employment or s¢lf-employm¢nt. Additionally, h¢ continues to lead weekly Zoom sessions for groups, witb participants attending from various locations across Anglesey. He is also employed by the company to deliver and d¢v¢lop th¢s¢ s¢8sions. A number of enterprises are also based P4t the work opportunities service at TYdd Mon farn] including: Tft Crempog Tg Cr¢mpog is managed and nm by staff and people attending the day and work opportunities service at Tyddyn Mon fann. People can achieve a range of outcomes ld gain valuabl¢ work ¢xp¢ri¢nce in T* Crempog, which reopened fully for the Holiday season in 2023. It has be¢n op¢n to th¢ public thr¢¢ days a w¢¢k during p¢ak periods and to groups at other times. It is also used as a training location for face-to-fa¢¢ training. Page 2
TYDDYN MON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJEcfivES AND ACTIVITIES Textlle Recycling The t¢xtil¢ recycling service operates in partnership with Anglesey council and offers a good range of outcomes for people to achieve. The service collects and recycles an avmg¢ of four tonnes of textiles each week across Anglesey. People xttcnding the day and WOTk opportunities service can collect textAl¢s donat¢d by local residents in the community and sort the t¢xtil¢s for recycling. The charity also collaboratcs with some schools on Anglesey, funding textiles collected from recyclillg bins at these sites, which g¢ll¢rat¢s income for school projects. The nation81 tt]le recycling mark¢t is currently facing a CTiSiS, charact¢riscd by d¢¢lining demand and reduced income peT tonne. This situation will bc closely monitored throughout ihe coming year. Ty Hendy Farmhouse Th¢ farn]house is available for rent to VASlting groups and famili¢s throughout the year. It is conveniently located within walking dislance of Lligwy Bcach on the island of Anglesey. The rental income contributes additional rcvenuc for the charity. while also providing work-bas¢d a¢tiviti¢s and social internctions for individuals attcnding thc farni. Additionally. the facilitics at Tyddyn Mon Farni can be utilised by visiting groups and farnilies. Howcver, the holiday rental income bas decreased this fmancial y¢ar, du¢ lo mor¢ p¢ople choosing to take holidays overseas and the increase in th¢ number of holiday prop¢rties available. Folk on the Farm Festival Th¢ annual Folk on the Farn) F¢stival held at Tyddyn Mon farni has developed over the years, with people from all ov¢r the UK attending and perfomiing. Th¢ f¢stival offers work experience opportunilies for adults with learning disabililies, and many people and their support workers, carers, and families a150 attend the festival. The music group at the farni again opened the main stage on th¢ first ev¢ning with a perforniance of their popular songs. They have also been perforniing at con)munity ¢v¢nts througbout the year. The festival in July 2023 f¢stival was well attended and featured a fantastic musical lineup. The people supported by the charity creat¢d merchandise to sell at a stall, and some of the individuals w¢ support volunt¢¢red at ihe event. Their roles Included working in the ticket office, stewarding, assisting in Tl Crempog, s¢tting up marqu¢¢s, and helping with refuse collection and clean up after the event. For the first tim¢. ti¢k¢ts were sold online, allowing for real-time monitoring of sales. Th¢ minibus, previously pur¢hased from the Folk on th¢ Farni festival profits, is used regularly to transport people to and from the farni. The festival profits hav¢ also funded the purchase of a defibrillator for the fami for use by individuals, staff, visitors and volunteers. The pro¢¢¢ds from the 2022 festival funded an all-terrain electric assASt wheelchair, allowing everyone to access all areas of the farni. This wheelchair is also availabl¢ for charity beneficiaries to use when vislting local attractions. It has been used frequelltly throughout lh¢ year. 2. Supported Living Service Throughout the Yr, the charity supported 24 adults with a l¢arning disability across Anglesey, some living witb others and some alone. At the end of March 2024, 50 full, part-timc, r¢li¢f front-line staff worked in the service, supported by a registered manager and deputy manager. Curyll. Llandegfan- 3 tenants Moreton Rd. Holyhead- 3 tcnanls Bryngwn - 2 tenants Llys Watling - I tcn8nt Valley - I tenant Meirionfa - 5 t¢nants Glan Ynys - 3 tenants Elenfa - 6 tenants The charity also owns a house called Helidon, which was historically used to run a supported living service. The tenants living in Helidon were supported to move into single-occupancy properties, and the property remains empty. The trustees need to reach a decision on th¢ use of Helidon in the future. Page 3
TIDY MON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIvrriES Extensive preparation work is completed before new p¢opl¢ b¢gin to re¢¢ive a s¢rvi¢K in support¢d living to ensure they receive the right care and support from the start. Each person is giv¢n th¢ individual support th¢y n¢¢d to contribute as rnuch as they can to decisions about the care and support they n¢¢d. Support plans and outcom¢s ar¢ co-produ¢ed with the people receiving suppor( their representstives and other professionals and peopl¢'s wish¢s and aspirations are the central point of all care planning discussions. Wh¢r¢ possible, people are involved in iecruiting their staff supporL and feedba¢k on the support received is sought from th¢ p¢rson and their representatives through various means using different communication methods. The R¢sponsibl¢ Individual also seeks feedback from people living in the houses during visits to supported living houses. Staff support p¢opl¢ in developing their interests and skills and taking part in activilies that matter to them. During the year. staff hav¢ supported p¢opl¢ to trav¢1 and stay with relatives who liv¢ out of the area and attend family evenls. Several individuals were assisted in hosting their birthday parties at local v¢nu¢s with fri¢nds. A wide range of activities, hobbies, and interests are enjoyed, including.. - Overseas, national and local holidays - Trips to tourist attractions - Attending local and national sports matches - Music concerts other events - Team sports and exercise - Volunteering - Arts & Crafts Wellbeing activities and events Staff at the charity undertake a re¢ognised h¢alth and so¢ial ¢ar¢ qualification alongsid¢ mandatory and specialist training relevant to the Tole. Training priorities ar¢ d¢tennin¢d by S¢TViC¢ objectiv¢s. th¢ n¢¢ds of those being supported, feedback received, the required skill mix, and both local and national legislation. Recrnitment for the supported living service has been challenging throughout the year, a situation ihat refltS broader issues WAthin the social care sector nationally. To address this, the company has a "Refer a Friend. scheme that encourages existing staff to recommend their friends for vacancies within the company. The company is also working with a recruilmeni fm to support the recruitment process. The supported living service was inspected in June 2023, and the company was very pleased to receive an excellent r¢port. Public benefit The trustees have paid du¢ regard to th¢ Charity Commission's guidance on public b¢n¢fit ID d¢ciding the activities undertaken by Tyddyn Mon during the year. The trustees are Satisfi that th¢ inforn)ation provid¢d in the report and accounts meets the public benefit ieportiDg requirements. Volullteers Tyddyn M6n has a volunt¢¢ring sch¢m¢ al th¢ training ¢entre on the farni. People of all ages volunteer and help out around th¢ farn) and also at ¢v¢nts such as th¢ Folk on the Farni festival. We also re¢Nit volunteers with specific skills to enhance the range of oul¢omes availabl¢ to adults with a l¢arning disability. Pag¢ 4
TYDDYIY MON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charitsble Activities - How our activities deliver publie benefits Our main activities and b¢n¢ficiaries are described below. All our charitable activities focus on the provision of care and support, training and wellbeing opportunities for adults Wlth learning disabilities and the work is undertaken lo further our charitable purposes for the public benefit. Fornied in 1988, Tyddyn M6n is a long-¢stsblish¢d community-based learning disability charity based in Wales. The Charitable Company provid¢s p¢rson centred day and work opportunities and care and support for people in support¢d living properties. Tyddyn Mon activities have developed signifjcantly during the past 35 years and th¢ Charitable Company currently has a turnover of £2.5 million per annum and at the end of the financial year, employed a total of 64 11 and part-time p¢opl¢ and op¢rate5 a diverse range of profit-making services and environmentsl proje¢ts that incorporate at th¢ir core equality and social inclusion. Most of our inc0C comes from service-level agreements. Howev¢r. we r¢cognis¢ the need to diversify our income sources. This strategy aims to reduce the risks associated with relying on a singl¢ incom¢ str¢am, rais¢ r4war¢ness of our charitable organisation and it5 activities, and create more opportunities for individuals wÈth learning disabilities to engage in meaning1 work. To achieve this, we have developed community-ba$¢d ¢nten8¢S that not i)nly provide opportuniti¢s for our charity beneficiaries but also offer a social benefit to th¢ wider community. Througb its trading company, the charity currently runs the textile recycling ¢ontra¢t across Anglesey and manages a holiday let property. The charity operates a popular pancake house called T* Crempog and hosts an annual fo]k festival at the charity fatm, attracting artists and visitOTS from across th¢ UK. All social enterprises provide valuable work experience and trainin& enabling participants to achieve a variety of outcom¢s. Individuals at the farni are always available to infom visilors about the fann's activities and assist th¢ public in engaging in pottery and wood-burning projects. New or planned activities are chosen in consullation with thos¢ re]ving support, ensuring they provide quality training opportunities and promote personal d¢v¢lopment, while also generating iticome for the cbarity. Individuals supported by Tyddyn Mon gain valuable experienc¢ in various work environm¢nts and hav¢ important rol¢s in teams wilhin our ¢ommunity-b&sed social enterprises. They have access lo training opportunities and participate in wellbeing activities that PTomot¢ p¢rsonal growth and development. These exp¢ri¢n¢es allow them to learn new skills, showcase th¢ir achi¢vements, and shape their tUres. All the houses are situated in residential areas and the peopl¢ w¢ support ar¢ valued members of their local community, frequenting bars and restaurants, shopping and so¢ialising. Some people also volunteer at community organisations, local charity shops and at Tyddyn M6n ¢v¢nts and activities. All are supported to live as independently as possible and to achievc their personal goals and outcomes. l. Access to the services Our Charitable obj¢cts and funding currently limit the services we provide to adults with a l¢arning disability. 2. Who used and benefited from the Service The training and day opportunities project is based at Tyddyn Mon fams which also s¢rv¢s as th¢ main offL¢¢ for th¢ Charitable Company. Throughout the y¢ar. 33 individuals accessed the day and work oppormnities service at the farni. Additionally, the supported living and floating support services sUPPOrted 24 people. The charity also offers volunteering and work-bas¢d ¢xp¢riences for others in the community, including those with disabilities, retired people, those returning to the workforc¢, ¢oll¢g¢, university students and school children. in addition to those we directly support, as well as their families and carers. 3. Equal Opportunitie5 We are Committed to promoting equality of opportunities at our ¢barity and we value diversity. Social inclusion is a key fows in all aspects of our work. FIIYAINCIAL REVIEW Flnanelal performance Total incoming r¢souTces for the year was £2.544,475 compar¢d to £2.433,724 in 2023, an increase of £l10,751.Total resour¢¢s expended was £2,442,991 compared lo £2,310,968 in 2023, an incr¢as¢ of £132,023. The nel income for th¢ y¢ar was £1 01,484. Pag¢ 5
TYDDYIY MON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANcL REVIEW Principal funding sources Aside from the income generaled by our trading activities, the principal ndIng sources for the Charitable Company are currently by way of contract income from Ynys Mon County Council and the Ynys M6n Local Health Board. As a result of increasing ¢ODstraints on local authority expenditure. the Charitsble Company is to seek ndIng from a much broader group of agencies and to develop more SOCAal enterprises over time. Investment policy and obje¢tiv¢s Having considered th¢ options availabl¢, th¢ Board has d¢¢ided not to mak¢ any investments in the commercial markets. A review of inv¢stm¢nt polici¢s tak¢s pla¢¢ annually, Reserves policy Unrestricted funds are required. l. To provide fimds wbich can be designated to specific projtS to enable these projects to be undertaken at Short notice. 2. To cover administration and support costs without which the Charitable Company could not function. The trustees ¢onsider it to be prndent that unrestricted reserves should be sufficient to: l. Avoid the necessity of r¢alising fixed assets h¢ld for th¢ Charitabl¢ Company's us¢. 2. Cover between 3 and 6 months operating costs. 3. Provide designated funds for specific projects. The Board has examined the Charitable Company's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unreslricted fiJDds not committed or invested in tangible fix¢d assets held by the Charitable Company should be between 3 and 6 months of the expenditure. Budgeted expenditure for 2024125 is estinmted at £2.56m. Therefore, the target at the end of the current financial year is £639,340 (for 3 morAlhs operating costs} or £1.28m (for 6 months) available in free reserves. The reserves are needed to meet the working Capital requirements of the Charitable Company and the Board are confident that at this level they would be able to continue the Current activities of the Charitsble Compally ID the event of late payment frorn major funders or a significant drop in thDding D¢signat¢d funds ar¢ as follows: Redundancy payment contingency fund External faTm improvements Fund for unforeseen financial settlements Replacement vehicles General technology and phone upgrades Satellite internet installation across farni site 264.856 100.IM)O 142,000 10,000 6,000 6,000 528,856 Free reserves are represented by the generpAI nd included in unrestricted fijnds. The present level of reserves available to the Charitable Company would provide 25 weeks operating costs and meets the ttvstee's minimum target of 3 months op¢rating costs, Th¢ strafrgy is to continue to build r¢s¢ryes through plann operating surpluses to meet the targel months op¢rating Qosts. In th¢ short t¢m the Board hav¢ also CODsid¢r¢d th¢ ¢xtent to which existing activities and expenditure could be curtailed, should such circumstances arise. The level of reserves is monitored and r¢vi¢w¢d by th¢ trustees twice a year. The Board recognises that the free reserves are ¢llentlY at an optimal value, and a program of capital upgrades will be undertaken in due course. The Charitable Company's survival is largely dependent on funding from local authorities and government agencies. The financial stafrments have been prepared on the assumption that adequate funding will be available in the future and therefor¢ the trustees ¢onsid¢r it appropriat¢ to pr¢par¢ the financial stat¢m¢nts on a going ¢on¢¢rn basis. Page 6
TYDDYN MOIY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLANS The local authority is under significant financial pressure and will be undertaking a competitive re-tendering exercise in future and the Charitabl¢ Company will have to tender for all existing services. Considering this il is very difficult to plan for the with any d¢gr¢¢ of certainty. In recognisillg that thc majority of out income is generated from Service L¢v¢l Agreements and having identified that w¢ needed to continue to diversify our income base, not only to r¢duce the potential risks associaled with narrow income streams but also to raise awareness of our Charitable Company and its activities. and provide greater opportunities and outcom¢s for people with learning disabilities, we have developed community-based entcrpriscs that fulfjl the Charitabl¢ Company's needs but also provide Teal so¢iAI benefit for the wider community. The cost-of-living crisis has seen an increase in ellergy bills and food prices for charities, belleficiaTies, and staff. Charity staff sUPPOrt p¢ople in budgeting and preparing for thc in¢r¢as¢ in daily costs and look at ways of rcducing energy consumption in all settings. Future developm¢nts: - Expand thc Currenl satellite internet technology to other fami areas for events at the fami and connectivity for visitors. - Upgrad¢ the telephone system and communication across the fann site using tbe satellitc system. Continue to revi¢w and increase the delivery of work-based training and wellbeing activities for p¢opl¢ that US¢ OUT services following a review of people's vocational and p¢rsonal aspirations. Further develop th¢ skill set of the peopl¢ wishing to develop their DJ skills to run external dis¢os and ¢v¢nts. Encourag¢ more staff members to train as wellb¢ing champions to support staff wellbeing. Continue to tsk¢ advice and use specialist recruitment fiLTns to ass15t with recruitment to support¢d living. K¢¢p th¢ charity objects and governing do¢um¢nts under review to ensure they are fit for purpos¢ for th¢ futUT¢. - Develop a carbon reduction plan to manage and reduce our business-r¢lat¢d carbon emissions STRUCTURE, GOVERIYANCE AND MANAGEMENT Governing do¢ument The Charitable Company is controlled by its memorandum and articles of association and constitutes a company limited by guarantee, as defined by the Companies Act 21)06, and was incorporated on 9th March 1988 and registered as a charity on 19th March 1998. Any person ag¢d 18 or over shall be eligible to apply for membership of the Charitsble Company andlor to be a tn]stee. Such applications must be in writing and addressed to the Board at the Registered Office. No pcrson shall be registered as a member of tbe Charitable Company without the approval of the Board, who may dmit or refuse an application at th¢ir diswetion. A regjster of members of th¢ Charitable Company shall be kept by th¢ Chief Executive at the Registered Office and shall contain the name and addr¢ss and date of admission to th¢ Charitable Company of each member and shall, so far as is applicable, comply with the provisions of Sections 352 and 353 of the Act. All proc¢theS shall be governed by and comply with the provisions of the Chaiitable Company's m¢morandum and articles of association. The charity Objects and Governing documents will vI¢w¢d to ensure they are fit for purpose for the fiiture. Recruitment and appointment of new trustees The directors of thc Charitable Company are also charity trust¢¢s for the purposes of charity law. Thc articlcs of association refer to these directOTsltruslees as "m¢mb¢rs of the Board.. For the pUOseS of this report and to avoid any onfusion they shall be called "trustees" and whcu acting tog¢th¢r as the board they shall be called th¢ "Board" Thc nature of the Charitable Company's work is witb adults who have a leaming disability and the needs of this group are approprial¢ly r¢flected through thc diversity of the Board. The board havc a broad mix of skills and in 2021 a skills audil of the trustees was completed by an ¢xternal provider to identify any skills gaps in the CUTrent board and to ensure trustees are recruited with the necessary 5ki11s and experience to strengthen the board, lead the charity and guide its futur¢ planning. Page 7
TYDDYN MON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure Th¢ Charitable Company has a BDaTd which meets on average every two months aT]d 15 responsible for the strat¢gic diT¢¢tion and policy of the Charitable Company. At the end of March 2024, the Board has seven members from a variety of professional bY4ckgrounds relevant to the work of the Charitable Company. The Chief Executive and Company S¢cretary also Slts on the Board but bas no voting rights. A scheme of delegation is in place and day to day r¢sponsibility for the provision of the services rests with the Chief Executive and the Housing Manager. The Chief Executive is responsible for overseeing the management and development of the supported living and day and work opportunities services and reviewing and improving the quality of the services. The Housing Manager has responsibility for the day-towday operational management of the supported living seryi¢es including leading and managing a service which meets the needs of people, safeguarding and promoting wellbeing, supervision of the staff team and also ensuring that the team Continue to develop their skills and working pra¢ti¢es in lin¢ with good practice and l¢gislation. Th¢ Farni team lead¢r has r¢sponsibility for the day-to-day operational management of the day and work opportunities service including leading and managing a service which meels the needs of people, safeguarding and promoting wellbeing, overseeing farni and garden projects, supervision of the stsff t¢am and ¢nsuTing that the team continue to develop their skills and working practices in line with good practice and legislation. Induetfion and tralnlng of new trustees New trustees are invited to visit all the charity projects and supported living houses. The board also undertake training together facilitated by an external charity trainer. A handbook for trustees is available contsining inforniation on the charlty and relevant charity commission infornMtion. The Board have adopted The Charity Governan¢¢ Cod¢" and ar¢ working towards th¢ 5¢v¢n principl¢s. Key management remuneration Trust¢¢s giv¢ th¢ir tim¢ frcely and ar¢ not paid for th¢ir Tole as tn]ste¢s. The remuneration of paid staff is Set by reference to norn)s in the voluntary sector. Related parties Due to the nature of the Charitable Cornpany's operations and the composition of the Board, it is inevAtable that transactions by the Charitable Cornpany may involve an organisation(s) in which a trustee may have an interest. The Charitable Company has a policy that all trustees musi declare an interest and be absent from any discussions of a transaction in which he may have a different interest from those of the CIwAtable Company. Delails of any related paty transactions, including tNst¢¢ r¢mun¢ration, benefits and ¢Xn5¢S are disclosed in the notes to the a¢llnts. The Charitable Cornpany has a wholly owned tradirAg subsidiary TYdd Mon Trnding Ltd, (Company number 07654129). Risk management The Board has conducted a review of the majoT risks to which the Charitable Company is exposed. The risk register is regularly reviewed and updated. Where appropriate, systems or pro¢¢dures have b¢en established to mitigate the risks that the Charitabl¢ Company faces. Int¢rnal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure that staff, volunteers, clients and visitors at all centres of operation comply with health and safety requirements. The Charitable Company's Quality Assurartce process ensures & consistent quality of delivery for all operational aspects of the company. These prncedures are periodically reviewed to ensure that they continue to meet the needs of the Charitable Company. The Charitable Company AS also subject to inspections by Care Inspectorate Wales and the Local Authority service reviews. Page 8
TYDDYN MON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 02228346 (England and Wales) Registered Charity number 1072035 Registered office Hendy Brynrefail Dulas Amlwch Angl¢s¢y LL70 9PQ Trustees Mrs Christine MacKay Mr John Graham Peers Webster Ms Tracy Ann Davies Dr Enllna Roberts {Vice chair) Dr Michael lan Hawk¢s (Chair) Ms Louise Faith Bunnan (r¢signed 24.5.24) Mr Ronald Julian Gareth Carter (appointed 8.9.23) Key Management personnel Dr Mi¢h¢ll¢ Fr¢eman - Chief Executive Officer Mrs Tracy Davi¢s - Housing Manager Company Secretary Dr Michelle Freeman Auditors Williams Denton Cyf Chartered Certified Accountants Statutory Auditors Glaslyn Ffordd y Parc Parc Menai Bangor Gwynedd LL57 4FE STA TEMEIYT OF TRUSTEES, RESPONSIBILITIES The trustees {who ar¢ also th¢ directors of Tyddyn Mon for th¢ purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accountxng Standards (United Kingdom G¢n¢rally A¢c¢pted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Slandard applicabl¢ in the UK and Republi¢ of Ireland" Page 9
TYDDYN MON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 IKARCH 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued Company law requires the trnstees to prepare financial slaten]ents foT each fin&n¢ial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and applicatxon of resources, including the income and expenditure, of the charitable con]pany for that perlod. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. obs¢rv¢ the methods and principl¢s in th¢ Clwity SORF. mak¢ judg¢m¢nts and estimates that ar¢ r¢asonabl¢ and pwd¢nt' pr¢par¢ th¢ financial statements on th¢ going concern basis unless it is inappropriate to presume that the charitable ompany will continu¢ in busincss. Th¢ tn]st¢¢s ar¢ r¢spon5ibl¢ for k¢¢ping prop¢r accounting r¢¢ords whith dis¢los¢ with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the fll]ancial statements comply with the Companies Act 2006. They are also Tespon5ible for safeguarding the &s5ets of the chaTitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other ]egUlaritieS. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as th¢ trust¢¢s are aware. th¢r¢ is no relevant inforniation (as defined by S¢ction 418 of the Companies Act 2006) of which th¢ charitabl¢ company's auditors ar¢ Unaware, and ¢a¢h trnst¢¢ has tak¢n all the steps thal they oughi to have taken as a trust¢¢ in ord¢r to make th¢rn awar¢ of any audit inforniation and to ¢stablish that the charitable company's auditors are aware of that inf0mtiOn. AUDITORS The auditors, Williams Denton Cyf, will be proposed for re-appoinljnent at the forthcoming Annual General Meeting. This report has been prepared irt accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 11 Approved by order of the board of trnstees on ................ Ii.L.l.................... and SAgned on its behalf by: Dr Michael lan Hawkes (eiiairj - Trustee Pag¢ 10
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TYDDYN MON Opinlon We have audited the funCIal statements of Tyddyn Mon (thc 'parent charitable company) and its subsidiary (the group) for the year cnd¢d 31 March 2024 which comprise the Statement of Financial Activities, the Balance SheeL the Cash Flow Stat¢m¢nt and notes to the financial statements. including a SUMM of significanl accounting policies. The financial reporting framework that has been applied in th¢ir preparation is applicable law and United Kingdom AccouT]tIDg Standards (United Kingdom Generally A¢cept¢d Arxounting Practice), including Financial Rq)orting Standard 102 The Financial Reporting Standard applicablc in the UK and Republic of Ireland,. In our opinion the financial stat¢ments: givc tt tru¢ and fair view of the stale of the gwup's and parent charitsble company's affait3 as at 31 March 2024 and of its incoming resources and application of resources. inclllding its incon]e aDd expenditUTC, for th¢ y¢ar th¢n ended. hav¢ bc¢n properly prepared in accordancc with United Kingdom Generally Accepted Accounting Practic¢, includiug Financial Reporting Standd 102 The Financial Reporting Stsndard applicabl¢ in th¢ UK and Rq)ublic of Ir¢land" and havc bccn pr¢pared in accordance with the requirem¢nts of th¢ Companies Act 2006. Basis for opinion We Conducted our audit in accordan¢¢ with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our r¢sponsibilities under those standards ar¢ furth¢r d¢scribed in the Auditors, responsibiliti¢s for th¢ audit of th¢ fmancial stal¢m¢nts section of our reporL We are ind¢p¢ndent of th¢ group and parent charitable company in accordanc¢ with the ethical requirements that are relevant to our audit of the fmancial statements ITJ the UK, including th¢ FRC'S Ethical Standard. and we hav¢ fulfilled our othcr ethical responsibilities in accordance with these requir¢m¢nts. We believe that th¢ audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial stat¢m¢nts, w¢ have concluded that th¢ tStees, use of the going concern basis of accounting in the preparation of th¢ financial statements is appropriate. Based on the work w¢ have perfornied, we have not identified any material uncertainties relating to events or conditions that, individually or coll¢ctively, may cast significant doubt on th¢ group and parent charitsble company's ability to continue as & going concern for a period of at least tw¢lv¢ njonihs from when the financial statements are authorised for issue. Our r¢sponsibilities and the responsibilities of the trustees with respect to going ¢on¢ern are described in the relevant sections of this report. Other informatlon The trustees are responsible for the other inforniation. The other InforntiOn comprises the inforniation included in the Annual Report, other than th¢ financial statemcnts and OUT R¢port of the Independent Auditors thereon. Our opinion on th¢ financial statements docs not cover the other infonnation and, except to the extent oth¢rwis¢ explicitly stat¢d in our report, we do not express any forn] of assurance conclusion thereon. In ¢onnection with our audit of th¢ financial statements, our responsibility is to T¢ad th¢ other inforn]ation and. in doing so, consider whether the other infom]ation is materially inconsistcnl with the fmancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstst¢ments, we are required to deterniine whether this gives rise to a material mi5Statement in the fmancial statcmcnts themselves. If, based on the work w¢ have perfornie(L we conclude that there is a material misststement of this other inforniation, we are requir¢d to report that fact. We havc nothing io report in this regard. Opinion$ on other matter5 prescribed by the Companies Act 2006 our opinion. based on the work und¢rtaken in the ¢ours¢ of the audit: the infornlation given in the Report of the Trnslees for the financlal year for which the financial stat¢m¢nts ar prepared is consistcnt with Ibe financial stat¢m¢nts' and th¢ Report of the Trust¢¢s has been prepared An accordance with applicable legal requirernents. Page 11
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TYDDYIY MON Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and parent charitable company and its environm¢nt obtained in the course of the audit, we have not identified material misstatements in the Report of the TTUSt¢¢s. We have nothing to Teport in respect of the following matteTS where the Companies Act 2006 requires us to report to you if, in our opinion- adcquate accounting records have not been kept or returns adequate for our audit have not been received from branches not visitcd by us- or thc financial statcmcnts are not in agreemeTJt with the accounting records and retUrn5' or certain disclosures of trustees, remuneration specificd by law are not madc. or we have not received all the inforniation and explanations we require for our audit; or the trnstees were not entitled to lake advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responslbllltles of trustees As explained more llY in the Statement of Trustees, Responsibilities, the trnstees (wbo are also the directors of the charitable company for the purposes of company law) are responsible for the preparalion of the financial statements and for b¢ing satisfied that they give a ttue and fair view, and for sucb internal control as the trustees deterniine is necessary to ¢nabl¢ th¢ pr¢paration of fjnancial staten)ents that are free frojn material misststement, whether due to fraud or error. In preparing the fmancial ststements. the tStee5 are responsible for assessing the group and parcnt charitable ompany's ability to continu¢ as a going concern, disclosing. as applicable. matters related to going concern and using th¢ going conc¢rn basis of accounting unl¢ss the trustees ¢ith¢r intend to liquidate the group and parent charitable company or to ¢¢as¢ op¢rations, or hav¢ no realistic alternativ¢ but to do so. Page 12
REPORT OF THE INDEPEIYDENT AUDITORS TO THE MEMBERS OF TYDDYN MON Our responsibilities for the audffit of Ihe fmancial statements Our objectiv¢s ar¢ to obtain reasonable assurance about whether the fmat)cial stskmcnts as a whole are free from mat¢rial misststement. whether due to fraud OT error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always d¢t¢¢l a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. indivith]ally or in the aggt¢. th¢y could reasonably be expected to influence the economic decisions of uscrs takcn on ihe basis of these fulancial statenwits. The extent to which our procedures are capablc of detecting irregularilies, including fraud is detailed b¢low: Based on our und¢rstandiT]g of the group and parent charitable company and the environment in which it operates, we considered ihe risk of arts by the group and par¢nt ¢haritable company that were contrary to applicable laws and regulations. including frau4 and designed audit PTo¢¢dures in response to ihis risk. We focussed on laws and regulations which could give rise to a material misstat¢ment in the financial statements, including, but not limited to, Companies Act 2006 and Charities Acl 2011. Our tests included: - enquiring with management of any known or susp¢cted ]egUlar1tIe$, in¢luding fraud. evaluating the adequacy of internal controls designed to detect or prevent irregularities, including the risk of anag¢m¢nt override. - agr¢eing the amounts and disclosures in the ftnancial statements to und¢rlying supporting documentation. t¢sting journal entrie5 to identify unusual transactions- evaluating whether thcrc was evidence of management bTas on k¢y judgements and accounting estinMtes' - reading the minutes of mcctings of those charged witb governance.and - ¢nquiring of management as to actual or potential litigation and claims. There are ittherent lin)itstions in the audil proccdur¢s described above. The more removed that financial transactions are from th¢ laws and regulations, the less likely it is that we would become aware of non-complianc¢. Auditing standards also limit the audit procedures required to identify non-compliance with laws and r¢gulalions to enquiry of truslees and management. and th¢ inspection of Tcgulatory and legal correspondence, if any. Material misstatements that aris¢ due to fraud can be harder to detect than those resulting from errors. as fraud may involve delib¢rat¢ concealment or collusioll. A further description of our responsibilities for the audit of the financial statements is locat¢d on the Financial Reporting Council's website at www.frc.org.uk1auditorsrponSlb]I1t1cs. This d¢scription fonns part of our Report of the Independent Auditors. Page 13
REPORT OF THE INDEPENDENT AUDoRs TO THE MEMBERS OF TYDDYN MON Use of our report This report is made solely to the group and paTent charitsble company's members. a5 a body. in arKordanc¢ with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that w¢ might state to the group and parent charitable cornpany's membeTS those matters we are required lo state to them in an auditors, report and for no othcr PUTpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than thc group and parent charltable company and the group and parent chaTitable company's m¢mb¢TS as a body, for our audit worK for this report, or for the opinions we have forn]ed. Colin Bell (Senior Statstory Auditor) for and on bebalf of Williams Denton Cyf Chartered Certified Accountants Statutory Auditors Glaslyn Ffordd y Parc Parc M¢nai Bangor GwyD¢dd LL57 4FE Dat¢.. Page 14
TYDDYN MON CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AIY INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds R¢stri¢ted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1,877 1,877 3,490 Charltable activitles Supported Housing & Work Exp¢rience 2,377,894 2J77,894 2.301.924 Other trading activities Investm¢nt in¢om¢ 145,871 18 145,871 123.373 Total 2 544 475 2 544 475 2,433,724 EXPENDITURE ON Raising funds 81,320 81,320 72.945 Charitsble activities Supported Housing & Work Experience 2J61,671 2,361,671 2,238,023 Totsl 2 442 991 2 442 991 2,310.968 NET INCOME 101,484 101,484 122,756 RECONCILIATION OF FUNDS Total funds brought forward 2,663,806 2.252 2.666,058 2,543,302 TOTAL FUNDS CARIUED FORWARD 2 765 290 2,252 2,767,542 2,666,058 CONTINUING OPERATIONS All income and expenditur¢ has aris¢n from continuing activities. The notes forni part of these financial statem¢nts Pag¢ 15
TYDDYN MON GROUP CONSOLIDATED BALANCE SHEET 31 MARCH 21124 2024 Totsl fmnds 2023 Total nds Unrestiicted fimds Restricted funds Notes FIXED ASSETS Tangible assets Investment property 13 14 521J51 500,000 521,351 500,000 538,999 500.000 1,1121,351 1,021J51 1,038.999 CURRENT ASSETS Stocks Debtors Cash at bank 15 16 1,450 565.715 lJ89.720 1.450 565,715 lJ91,972 1,350 417.003 1.430289 2.252 1,956,885 2,252 1,959,137 1,848,642 CREDITORS Amounts falling du¢ within on¢ y¢ar 17 {192,403) {192,403) (200,704) NET CURRENT ASSETS 1,764,482 1,76A734 1,647,938 TOTAL ASSETS LESS CURRENT LIABILITIES 2,785,833 2,252 2,78&085 2,686,937 PROVISIONS FOR LIABILITIES 19 (20,543) (20,543) {20,879) NET ASSETS 2,765,290 2,252 2 767,542 2.666.058 FUNDS Unrestricted funds Restricted fijnds 20 2,765,290 2,252 2,663.806 2,252 TOTAL FUNDS 2,767,542 2,666,058 These financial statements have been prepared in accordance with the provisions applicable to Charitable companies subject to the small companies TegAme. The fin nc I ststements were approved by the Board of Trustees and authorised for issue on 'LCs"L . and were signed on its behalf by.. Dr Michael lan Hawkes (Chair) - Trnstee Moonald Julian Gareth Carter- Truste¢ The notes forni part of these financial statements Page 16 ¢onlinu¢d...
TYDDYN MON CHARITABLE COMPANY BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Not¢s FIXED ASSETS Tangible assets Investments Investments Investment propety 13 503,800 503,800 516,449 14 14 500,000 soo,000 500,000 1.003.801 1,003101 1.016.450 CURRENT ASSETS Stocks D¢btors Cash at bank 15 16 lJ50 556,839 1,383.547 IJSO 556,839 1,38S799 1,250 419.629 1.415.483 2252 1,941,736 2,252 1,943,988 1,836,362 CREDrroRS Arnounts falling due within one year 17 (161,655) (161,655) {169,762) NET CURRENT ASSETS 1,780,081 1,782,333 1,666,61)0 TOTAL ASSETS LESS CURRENT LIABILITIES 2,783,882 2252 2,78134 2,683.050 PROVISIONS FOR LIABILITIES 19 (20,IMIO) (20,0110) (20.000) NET ASSETS 2,763.882 2,76A134 2,663.050 FUNDS Unrestricted fimds Restricted funds 20 2,763,882 2,252 2,660,798 2,252 TOTAL FUNDS 2 766 134 2 663 050 These financial stat¢m¢nts have been prepared in accordance with the provisions applicable to charitable Companies subject to thc small companies regim¢. The fina cial statemcnts w¢r¢ approved by the Board of Trnstees and authorised for issue on and w¢r¢ sign¢d on its b¢balf by.. Dr Michael Ian Ha (Chair) - Trustee ald Julian Gar¢th Cart¢r- Trustee The notes forni part of these financial statcments Page 17
TYDDYN MON CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from op¢rations 44,1)06) io,ooi Net ¢ash (us¢d in)/provided by operating activities 44.IMI6) io.ooi Cash flow$ from investing aetivities Purchase of tangible fixed assets Sal¢ of tangible fixed assets Int¢r¢st re¢¢ived (13,144) (9,699) 165 4,937 18033 Net cash provided byl{us¢d in} inv¢sting activities 5,689 4.597) Change In eash and eash equivalents ID the reportlng period Cash and eash equivalents at the beginning of the reporting perlod (38J17) 5,404 1430 289 1,424,885 Cash and eash equivalents at the end of tbe reportlng period lJ91972 1430 289 Th¢ notes fonn part of these financial statements Page 18
TYDDYN MON NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF IYET INCOME TO NET CASH FLOW FROM OPERATllYC ACTIVITIES 2024 2023 Net IDcom¢ for the reporting period (as per the Ststement of Financial Activities) Adjustments for: Depr¢¢iation ¢harges Loss on dispos&l of fixed assets Inter¢st received Increasel (Decrease) in defeed tax Incr¢as¢ in stocks Increase in d¢btors (Decrease)lincrease iti creditors 101,484 122,756 26,544 4,250 (18,833) (338) (ioo) {148,712) 8,301 28,723 320 (4,937) (264) (355) (189,222) 52,980 Iyet cash {used inyprovided by operations io,ooi AIYALYSIS OF CHAINGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at baDk 1,430,289 (38J17) lJ91,972 1,430,289 38J17) lJ91,972 Total 1,430 289 38J17) 1391972 The notes forni part of these financial statements Pag¢ 19
TYDDYIY MON NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTll¥G POLICIES Basis of preparing the financiv41 statements The financial stat¢m¢nts of the group and parent Charitable company, which is a public benefit entity under FRS 102, hav¢ b¢¢n pr¢par¢d in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Stat¢m¢nt of R¢commended Practice applicable to clwlties preparing their accounts in accordance with the Finanrial R¢porting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019),, Financial Reporting Standard 102 The Financial R¢porting Standard applicable in ihe UK and Republic of Ircland, and the Companies Act 2006. Th¢ financial statcments have been prepared under the historical cost convention, a5 modified by the revaluation of c¢rtain ass¢ts. Preparation of financial statements on a going coneern basi5 The group and parent charitable company's survival is larg¢ly dep¢nd¢nt on funding from local auihorities and gov¢rnm¢nt agencies. The financial statements have been prepared on the assumption that ad¢quat¢ funding will be availabl¢ in th¢ and therefore the trustggs consider it appTOPTiate to prepar¢ th¢ financial statem¢nts on a going con¢¢rn basis. Ineonhe Income from grants, contracts and fees: including capital grants and other income, is recognised once the charity has entitlement to the income, it is probable that the in¢om¢ will b¢ received and the amount of income re1vable can be measured reliably except for: When it is specified that income from grant5 and contracts received by the ¢baritabl¢ company are to be used ID fure periods, then the income is deferred until that period. When conditions are imposed which have to be thlfilled before the charitable company becomes entitl¢d to us¢ such income, the income is deferred and not included itt incoming resources until the pre-conditions for us¢ hav¢ b¢¢n met. Wh¢n sp¢cified, income including capital grants, is for a particular restricted purpose, which does not amount to pre-conditions regarding entitl¢m¢nt, this incom¢ is included in incoming resources of restrACted filljds when receivable. Donations are recogmi5ed when the charity has been notifi¢d in writing of both the amount and settlemeftit date. In the event that a donation is subject to conditions that r¢quir¢ a l¢v¢l of perfonnance before the charAty is entiiled to the fimds, the income is defeTred and not recognis¢d until those conditions aT¢ m¢t. Interest on ndS held on deposAt or loans provided is included when receivable and the arnount can b¢ measured reliably by the charAty,' this is nornially upon notification of the interest paid or payable. Turnover in the trading subsidiary represents net invoiced sales of goods and services excluding VAT. Expenditure Liabilities are recognised as exp¢nditt]r¢ a5 soon as there is a legal or Constrnctive obligation committing the parent charitable company to that ¢xp¢nditw¢, it is probable that a transfer of economic benefits will be required in Settlement and the amount of the obligation can b¢ m¢asur¢d r¢liably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggr¢gat¢ all Cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activiti¢s on a basis ¢onsistent with th¢ use of resources. Alloeation and apportionment of Costs Certain expenditure is directly attributabl¢ to specifi¢ activities and has been included in those cost ¢at¢gori¢s. Certain other costs, which are attributabl¢ to mor¢ than one activity, are apportioned acros5 Cost categories on the basAS of an estimate of the proportion of time spent by stsff on those activiti¢s or estimated usage. Page 20 continued...
TYDDYN MON NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - tODtinued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - contlnued Tangible fixed assets D¢preciation is provided at the following rat¢s in order to write off the cost of each a5S¢t ov¢r its ¢stimated uscful life.. Land & property Offices Fquipnrnt - Parent Equipnrnt - Subsidiary FIureS & fittings - Subsidiary Motor v¢hi¢l¢s Conyuter equip]rrnt - Parent 1.50/0 on reducing ba]ances - Ovcr 25 years - 25/0 on dUcing balance 180/0 on reducing balance 18/0 on reducing balancc - 250/0 on reducing balance - 25•/0 Strnight line Tangible fixed assets for use by the gTOUP and parent ¢haritabl¢ company are stated at cost or in cases where fixed assets have be¢n donated at valuation at the time of acquisition, Icss depTeciation. The cost of minor additions are not capitalis¢d. Investments Investment property is shown at most recent valuation. Any aggr¢gate sUlUS or deficit arising from changes in market value is recognised in the staiemenl of fmancial activities. The property is reviewed for impairnjent each year by the trnstees. Invcstments in the subsidiary company arc stat£d in th¢ accounts of the parent company at cost. Stocks Stocks are valued at the lower of cost and n¢t r¢alisable value, after making du¢ allowance for obsolete and slow moving it¢m5. Taxation The parent charitable company is ex¢mpt from coryoration tsx on its charitabl¢ a¢tivities. The trading subsidiary is liabl¢ to corporation tax. Deferred TAX Deferred tax is r¢cognised in respect of all timing differences that have originated but not reversed at ihe balance shcct date. Timing differences aris¢ from the inclusion of incom¢ and expenses in tax assessments in periods differ¢nt from those in which they are recognised in fLnancial stat¢m¢nts. Deferred tax is m¢asur¢d using tax ral¢s and laws that hav¢ been enacted or substanliv¢ly ¢nacted by the year end and that are ¢xp¢ct¢d to apply to the reversal of th¢ timing difference. Unrelieved tax losses and oth¢r dcferred tax assets are recognised only to th¢ extent that it is probable that they will be recovered against the r¢v¢rsal of deferred tax liabiliti¢s or oth¢r future taxable profits. Fund a¢countinE U[eStricted fvllds can be us¢d in accordance with the Charitable objectives at the discretion of the trustees. Designated funds ar¢ unrestricted funds eArniark¢d by the trustees for a particulaT PUry)ose. Page 21 continu¢d...
TYDDYN MON NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - contlnued FOR THE YEAR EIYDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Fund accounting Restricted funds can only be us¢d for particular r¢stricted purposes wiihin the objects of the parent Charitable company. Restrictions arise when sp¢cifi¢d by the donor or when fidS are raised for particular restricled purposes. Furth¢r Cxplanation of the nature and PUTpose of each fund is in¢lud¢d in th¢ notes to the fu1¢la1 staten]ents. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Ststement of Financial Activities on a straight ]ine basis over the pcriod of the lease. Pension costs alld otber post-retirement benefits The parent charitsble company operates a defined contribution pension schem¢. Contributions payable to the parent charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Consolidation The financial ststements consolidate the results of the charitable company and its wholly owned subsidiary Tyddyn Mon Trading Limited on a line-by-line basis. A separate StP¢tement of Financial Activities and Income and Expenditur¢ ArKount for the Charitable company has not been presented because the charitable ¢ompany has taken advantag¢ of th¢ ¢x¢mption afforded by section 408 of the Companies Act 2006. Related Parties Duc to the nature of the charitys operations and th¢ Composition of the board of trustees it is inevitable that trnnsactions will take place with organisations in which a member may have an interest. All transactions involving organisations in which a tsustee may have an int¢r¢st ar¢ conducted at ami's length. The parent charitablc company has a policy that all trust¢¢s must declar¢ an int¢r¢st if a related paty transaction occurs. DONATIOIYS AND LEGACIES 2024 2023 Donalions 3,490 OTHER TIL4DING ACTIVITIES 2024 2023 Trading subsidiary activities 145 871 123,373 Page 22 continued...
TYDDYN MON NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT INCOME 2024 2023 Deposit account inlerest 4,937 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Supported Housing & Work Exp¢ri¢nce Supported Housing & Work Experience Supported Housing & Work Experience Supported Housing & Work Experienc¢ Supported Housing & Work Experience Supported Housing & Work Exp¢ri¢nc¢ Supported Housing & Work Experience Ynys Mon CC Residents - DSS Rcsidents - Own Farni produc¢ & Subsidies Grants Sundry rec¢ipts Out of county day provision 1,¥45,055 505,931 6,523 475 1,712,777 459,039 6,891 645 99,190 5,364 18,018 2,816 17,094 2,377,894 2 301.924 Grants re¢¢ived, included in the above, are as follows: 2024 2023 ICF LD Grant Social Care Financial Recognition S¢h¢m¢ (YMCC) Kickstart {DWP) Ynys Mon County Council 537 80,687 11,974 5,992 99,190 RAISING FUNDS Other trading aetivities 2024 2023 Trading subsidiary Costs 81J20 72,945 Page 23 continued...
TYDDYN MON NOTES TO THE COIYSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS Support costs (sc¢ note 8) Dir¢¢t Costs Totals Supported Housing & Work Experience 2,225,731 135 940 2,361,671 SUPPORT COSTS Governan¢e costs Manag¢m¢nt Totals Supported Housing & Work Experience 121,iNIO 135 940 NET INCOMEI(EXPEIWITURE) Net income/(expenditur¢) is stat¢d aft¢r chargingJ(crediting): 2024 2023 Auditors, remuneration Auditors, remuneration for non audit work DePrLatIon - owned assets Other op¢raling leases Deficit on disposal of fixed assets 6,170 11,636 26,542 48,134 847 5,880 10,512 28,723 45,588 320 io. TRUSTEES, REMUNEIL4TION AND BENEFJTS 2024 2023 Truslees, salaries Trustees, social security Trustees, pensions paid 51,271 4565 55,731 5,488 62,517 Th¢ trustees Mr J.G.P. Webster and Ms T.A. Davies are paid remuneration in r¢lation to th¢ work that tliey undertake for the Charitable Company as a support worker and housing manager. They are not paid for their posts as trustees. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. ii. STAFF COSTS 31.3.24 31.3.23 Wages and salarics Social security costs Other pension costs 1,465,070 1,384,933 122,618 118,025 31,108 29,461 1618,796 1.532 419 Page 24 continued...
T)DY MON IYOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - tontinued FOR THE YEAR ENDED 31 MARCH 2024 11. STAFF COSTS- continued The average monthly number of employees during the year was a5 follows: 2024 2023 Chi¢f Executive Officer Housing Manager Administration Charitable activities 66 60 70 64 No ¢mployees received emoluments in excess of £60,000. The charity considers its key manag¢ment personnel compris¢ th¢ Chi¢f Executive Officer and the Housing Manager. Total emoluments, including employer pension Contributions. of th¢ key rnanagement personnel were £89,488 (2023 - £88,550) The charity operates a defined Contribution pension scheme for its employecs and the charity made pension contributions for 70 (2023 - 64) staff members. 12. COMPARATIVES FOR THE STA TEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 3,490 3,490 Charitable activities Supported Housing & Work Experi¢n¢¢ 2,301.924 2,301,924 Other trading activities Investment incom¢ 123,373 4,936 123,373 4,937 Total 2 433.724 2,433,724 EXPENDITURE ON Raising funds 72.945 72.945 Charitable actlvitles Supported Housing & Work Experience 2.236,879 1,143 2,238,023 Total 2,309,824 1,143 2,310,968 NET INCOMEI(EXPENDITURE} 123,899 (1,143) 122,756 RECONCILIATION OF FUNDS Total ThdS brought forward 2,539,907 3,395 2,543,302 TOTAL FUNDS CARRIED FORWARD 2,663,806 2,666,058 Page 25 ¢ontinu¢d...
TYDDYN MON NOTES TO THE CONSOLIDATED FINANCIAL STA TEMENTS - eonlfinued FOR THE YEAR ENDED 31 MARCH 2024 13. TANGIBLE FIXED ASSETS Group Land & propety Offices Equipment COST At l April 2023 Additions Disposals 539,344 94,375 182,309 2,874 At 31 March 2024 539,344 153 458 DEPRECIATION At l April 2023 Charge for year Eliminated on dAsposal 111,437 6,418 34,887 3,775 162,526 4903 At 31 March 2024 117,855 38,662 139.642 NET BOOK VALUE At 31 March 2024 421489 55,713 13,816 At 31 March 2023 427,907 59,488 Fixtures and fittings Motor vehicles Computer equipment Totals COST At l AprAI 2023 Additions Disposals 37,431 2,775 61,649 17,444 7,495 824 932552 13,144 32 899) At 31 March 2024 39.856 912 797 DEPRECIATION At l April 2023 Charge for year Eliminatcd on disposal 25,834 2O87 244 46,287 3,841 12,582 5,018 393,553 26,542 28,649 At 31 March 2024 16,982 391,446 NET BOOK VALUE At 31 March 2024 11,679 521 At 31 March 2023 11,597 538,999 The Trusle¢s ar¢ of the opinion that the nel book value of the freehold properties includ¢d in the accowits is fair and there hav¢ b¢¢n no impairnients lo the properties as at 31 March 2024. The company also owns a number of artworks fimdedldonated by the Arts Council of Wales and th¢ Environmental Development fund of Ynys Mon County Council. Page 26 continued...
TYDDYN MON NOTES TO THE CONSOLIDATED FINANCIAL STA TEMENTS - tontinued FOR THE YEAR ENDED 31 MARCH 2024 13. TANGIBLE FIXED ASSETS Charit*ble Company Lalld & prop¢ty Offices Equipment COST At l April 2023 Additions Disposals 539,344 94,375 132,105 2,402 9,52 At 31 March 2024 539 344 124 980 DEPRECIATION At l April 2023 Charge for year Eliminated on disposal 111,437 6,418 34,886 3.775 120,429 3.359 8.886) At 31 March 2024 117 855 38,661 J14,902 NET BOOK VALUE At 31 March 2024 421,489 At 31 March 2023 427,907 59.489 Motor vehicles Computer equiprn¢nt Totals COST Al l April 2023 Additions Disposals 45,654 17,444 7,495 828,922 9,897 IOJSI) At 31 March 2024 DEPRECIATION At l April 2023 Charge for year Eliminated on dTsposal 33,139 3,129 12,582 5.018 3J2,473 21.699 04 At 31 March 2024 36,268 16,982 324,668 NE'I. BOOK VALUE At 31 March 2024 9,386 503 800 At 31 March 2023 12,515 4.862 516.449 The Trust¢¢s ar¢ of the opinion that the net book value of tbe fr¢ehold properties included in the accounts is fair and th¢r¢ have been no impaiments to th¢ prop¢rti¢s as at 31 March 2024. Th¢ company also owns a number of artworks fundedldonated by the Arts Council of Wales and the Environmental Development fund of Ynys Mon County Council. Page 27 continu¢d...
TYDDYN MON NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 MARCH 2024 14. INVESTMENT PROPERTY Group COST OR FAIR VALUE At l April 2023 and 31 March 2024 500 000 NET BOOK VALUE At 31 March 2024 500 000 At 31 Mah 2023 500,000 The investment propety was valued at market value on 12 October 2022 by Richard Thomas MRICS of Dafydd Hardy Chartered Surveyors who are independenl of ihe charity. Fair value at 31 March 2024 is represented by: Valuation in 2017 Valuation in 2022 Cosl (108,296) 201b,000 408 296 500,000 FIXED ASSET INVESTMENTS Charitable compally At cost 31.3.23 31.3.22 IOOO/o ordinary share capital of Tyddyn Mon Trading Limited Tyddyn Mon Trading Ltd is registered in England and Wal¢s 15. STOCKS (koup Ch2rlt4ile conyany 31J24 31.3.23 31J24 31.3.23 Stock lJ50 lJ50 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group CharltalAe comwry 31J24 31.323 31J.24 31.3.23 Debtors AnuntS owed by group undertaknngs Other debtors Prepaynrnts 513J69 370.654 504997 3,600 IlJ13 3662(I1 8,1 IlJ13 41,033 565 715 37,703 417,W3 36,623 419,629 556,839 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Charltailt comnY 31J24 31.3.23 31.324 31.3.23 Creditors VAT Accruajs and defetred incon 2,627 4,408 185 68 192 403 27.518 4,552 168.634 2W,704 2,627 27,518 159,028 161.655 142244 169.762 Page 28 ¢ontinu¢d...
TYDDYN MON NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 18. LEASING AGREEMENTS Group aDd ¢haritable comp*ny Minimum l¢as¢ payments undeT non-cancellable operating leases fall du¢ as follows: 2024 2023 Within one year B¢tw¢¢n on¢ and five years 56,088 4,105 50.963 1,674 60,193 52,637 19. PROVISIONS FOR LIABILITIES (koup CbarltslAe comwiy 31.3.24 31.3.23 31J24 31.3.23 1st Charge on Property and Covenant to repay Loan from Ynys Mon County Council Defetred taxprovision 20.000 543 20,(K)O 879 20,879 20,000 20.(X)O 20 20,000 20,(KM) Ynys Mon County Council provided Tyddyn Mon with a loan of £20.000 iowards to the purchase of the Farni at Hendy on th¢ condition that if the Fami was sold the £20.000 would b¢ r¢payabl¢. 20. MOVEMENT IN FUNDS Group Net movement in funds Transfers bctw¢en funds At 31.3.24 At 1.4.23 Unrestricted funds General fund D¢5ignated fund Fixed Asset reserve 1,135,528 511,829 1,016,449 124,030 (26,924) 17,027 9,897 1,232,634 528,856 1003,800 (22,546) 2,663,806 101,484 2,765390 Restricted funds Mcdnvn Mon 2,252 2,252 TOTAL FUNDS 2 666 058 2 767 542 Net movement in funds, included in the above are as follows: Incoming resources Resources ¢xpended Movement in funds Unrestricted funds General fund Fix¢d Asset reserve 2,544,473 {2,420,443) (22 546 124,030 44,473 (2 442 991 101484 TOTAL FUNDS 2 544 455 2,442,991 101,484 Pag¢ 29 continued...
TYDDYN MON NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - eontlnued FOR THE YEAR ENDED 31 MARCH 21124 20. MOVEMENT IN FUNDS - continued Comparatives for movement ID funds Group Net movement in funds Transfers between funds Ai 31.3.23 At 1.4.22 Unrestricted funds Gcn¢ral fimd Designated fijnd Fixed Asset reserve 1,011,494 471,050 1,057,363 151,962 {50,479) 40,779 9,700 1,112,977 511,829 1,039,000 28,063) 2,539.907 123,899 2,663,806 Restricted funds Medrwn Mon 3,395 (1,143) 2,252 TOTAL FUNDS 2,543,302 122,756 2.666 058 Comparative net movement in fund4 included in the above are as follows: Incoming r¢sourccs Resources expended Movement in fimds Unrestrl¢ted funds General fvnd Fixed Asset reserve 2,433,723 (2,281,761) (28,063 151,962 (28,063) 2,433,723 (2,309,824) 123,899 Restricted funds Medrwn Mon (1,144) (1,143) TOTAL FUNDS 2 433.724 2,310,968) 122,756 MOVEMENT IN FUNDS Charltable company Net movement in funds Transfers between fLmds At 31.3.24 At 1.4.23 Unrestrieted funds General fund Deslgnated fund Fiyed Asset reserve 1,131520 511,829 I,OIA449 125,630 (26,924) 17,027 9,897 1,231,226 528,856 1,1)03 800 22,546) 2,660,798 103,084 2,763,882 Restricted fund Medrwn Mon 2,252 2,252 TOTAL FUNDS 2,663,050 103,084 2,766,134 Page 30 continued...
TYDDYN Mor NOTES TO THE CONSOLIDATED FINANCIAL STA TEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 20. MOVEMENT IN FUNDS - continued Charitable eompany Net movement in funds, included in the above are as follows: Incoming r¢sources R¢sourc¢s expended Mov¢ment in funds Unre$tri¢ted funds General fimd Fix¢d Asset reserve 2,464,753 (2,339,123) 125,630 22,546) 2 464 753 2 361671 TOTAL FUNDS 2,464,753 61,671} 103 084 Pur ose of desi nated funds r•nJh t. t•A lilrnt& Thpsp iiril 23. TAXATION No tax charges have arisen in the year. 24. GOING CONCERN The Trustees consider it appropriate to prepare the financial statements on a going conc¢rn basis. Page 31