Company Registration Number 03663661 Registered Charity Number 1073317 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) REPORT AND ACCOUNTS For the year ending 31 March 2025 *AEFZPPSM* 2411112025 COMPANIES MOUSE A11 #152 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Community Arts Rhayader And District Charity registration number 1073317 Company registration number 03663661 Registered office Unit 2 East Street, Rhayader, Powys. LD6 SER Trustees For the purposes of the Companies Act 2006, the Board of Trustees is the Board of Directors of the charitable company and is referred to as the Trustees throughout this report. The Trustees of Community Arts Rhayader And District (CARAD) during the period and to the date of signing this report are as follows.. Ms C Allan (Chair) MslKBass Ms H Corbett Mr P Cox MBE MsHMCurry Ms M Elster Ms T L Mitchell Mrs J Worgan Appointed 14 August 2025 Resigned 1 July 2024 Resigned 5 January 2025 Independent Examiner Pete O'Hara FCA, Chartered Accountant, 26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AF COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 The Trustees, who are also Directors for the purposes of company law. present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Documents CARAD is a charitable company limited by guarantee, incorporated on 6 November 1998 and registered as a charity on 14 January 1999. The charity is controlled by its governing document, its Memorandum & Articles of Association. and constitutes a limited company, lirnited by guarantee, as defined by the Companies Act. The Directors of Ihe company are also Trustees of the charity. Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Articles of Association. There are no restrictions in the governing document on the operation of the charity other than those imposed by general charity law. Charitable Purpose The Objects of the charity are to promote the benefit of the inhabitants of mid-wales without distinction of sex, sexual orientation, race or political, religious or other opinions by associating together the said inhabitants and the Local Authorities, voluntary and other organisations in common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupations with the object of improving the conditions of life for the said inhabitants. Structure and Governance The charity currently has a Board of six non-executive Trustees. The Board meets a minimum offour times per year. The Board receives written reports and agendas which are circulated in advance of meetings from the Director. The Board has an annual calendar to ensure essential business is discussed and reviewed in a timely basis. Ongoing governance of the charity is maintained through regular meetings with the Director. We have had two resignations from the Board in 2024125 and all Trustees have contributed to the running of CARAD. We have held regular Board meetings and communicated via phone and email if any decisions needed to be made or information shared between meetings. The Chair would like to thank fellow Trustees for their support and especially lo thank Krysia Bass as Co Director, Tess Mitchell and Jose Worgan for their work on the displays and collections and Peter Cox for their long hours of hard work and support over the year. We would like to thank our Museum Mentor, Carol l+Vhittaker (who also attends Board meetings) for her considerable expertise and advice over the year. Recruitment and Appointment of Board of Trustees Trustees are elected to the Board based on discussions and recommendations offered by Trustees and outside advisors to the charity, as well as through a range of advertising channels. COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT (CONTINUED> Trustee Induction and Training New Trustees are inducted by the Chair of the Board and Director and are provided with a range of resources to support their understanding of CARAD'S activities. The balance of the Board is reviewed on an annual basis with reference to current skills on the board and the operational needs of the charity. Trustee training is delivered either through external advisors or charity members of staff. Staffing We wish to thank all our staff for the dedication they put into their work and their willingness to work flexibly to respond to often unexpected demands or events. In particular: Michelle Thomas has been our Finance Officer, who has kept the books balanced and ensured that funding is correctly allocated. She has produced financial forecasts and Ccilculations to support various funding bids. Elaine Lewis has been our excellent cleaner over the year. Rosie Slay was seconded to us from Elan Links for six months and then employed until she went on maternity leave in September 2024. She enabled the organisation's admin to run smoothly, particularly facilitating the recruitment and contracts for SPF staff and website developers, IT support, some funding support and preparation for opening Timescape. Shared Prosperity Funded staff employed on short term contacts in Autumn 2025.. Emmeline Thrower - Museum and Front of House, Cat Nunn - Fundraising and Development, Daniel Jones - Arts Development, Wyn Roberts - Marketing, new website developers - Hoffi. Emmeline Thrower did Front of House and volunteer support. She also did voluntary work with the organisation over winter. We have employed session workers to run workshops and outreach events and to do some maintenance work. We would particularly like to thank Rob Hill, Jane Mason and Gemma Jones as regular session staff. Reserves Pollcy The Trustees have reviewed Ihe charity's needs for reserves in line with the guidance issued by the Charity Commission, having reviewed the risks facing the organisation, seeking to maintain a level of reserves which enables the charity to operate effectively with financial stability and the means to fulfil its charitable purpose. The Trustees aim to hold a level of Unrestricted Reserves which enables the charity to have sufficient working capital to continue to operate and also reflects the risks associated with shortfalls in funding, especially withdrawal of support from existing funders. If alternative sources of funding were not forthcorning, then this amount would provide the means for CARAD to settle any outstanding contracts and close Ihe company in an orderly manner. We have reviewed these costs in relation to statutory redundancy pay and the liabilities for our building. We have calculated these as £10.000 for statutory redundancy costs and staff notice periods, plus a further £15,000 to £20,000 for the building-related costs, insurance and services. Therefore, the Trustees anticipate the Unrestricted Reserves needed to fulfil these criteria as £10.000 as a minimum, and the target level of Unrestricted Reserves to be in the range of £25,000 to £30,000. COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED) Reserves Policy (Cont.) The charity's total Unrestricted Reseries at 31 March 2025 are £41,475 (2024.. £60,716). Free Reserves, defined as non-designated Unrestricled Reserves minus the value of Unrestricted Tangible Fixed Assets (£27,682), are therefore £13,793 and hence fall below the target range. The Trustees aim, through their budgeting processes. to restore Free Reserves to within the target range within 3 years. The Board regularly reviews the level of reserves that are required to ensure that they are adequate to fulfil our continuing obligations and to allow the organisation to fulfil its charitable purpose. Grant Maklng Policy The charity does not currently engage in grant-making activity. The Contribution of Volunteers The day-to-day running of the organisation has been done by two Trustees, Catherine Allan and Krysia Bass, acting as pro bono co-Directors. Trustee Peter Cox has continued the logistical work needed to deal with, move and sort project materials and Timescape artefacts, as well as supporting volunteers. The work of getting Timescape Rhayader l Amserwedd Rhaeadr Gwy ready for opening took a lot of work and energy which took a certain toll on our wellbeing. I would like to thank Trustees and volunteers for the amount of work they put in to achieve this. We have been very well supported by other volunteers. In 2024125, we had 57 volunteers delivering 5,200+ hours of voluntary work and expertise, doing tasks such as.. Administration, fundraising, management Community liaison, volunteer support Timescape's collections managernent Logistical support re moving objects and managing storage and materials Timescape displays - content research and collaboration, painting and display creation Translation support, digital support Outreach activity including logistics and public engagement, stewarding, delivering and supporting activities and workshops, attending meetings, advocacy Digital activities stewarding and front of house in Timescape Rhayader Gardening We have been fortunate in attracting new, younger volunteers to help us. COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED) The ContributSon of Volunteers IConL) Our work builds community cohesion, environmental awareness and strives to achieve social justice. Our projects offer support to help the health, wellbeing and improve the skills of individuals and where appropriate, their employability and this would not be possible without our volunteers. However vital a role our volunteers play in the organization, we are fundraising to be able to employ paid staff. The organisation is reliant on two full-time Trustees in particular, both of whom have found the process of redesigning and redeveloping the museum into Timescape Rhayader physically and mentally challenging. This makes CARAD vulnerable should one or both become unable to continue in post. OBJECTIVES AND ACTIVITIES Public Benefit The Trustees understand and have discussed the implications of the provisions of the Charities Act 2006. which state that all charities must demonstrate that they are established for public benefit, and have had due regard to the public benefit guidan￿ issued by the Charity Commission. The Trustees believe that the charity meets both of the key principles. Principle 1 There must be an identifiable benefit, or benefits Learning and participation are at the heart of CARAD. The organisation carries oul in-house workshops and activities and an outreach programme for schools and community groups. CARAD is developing a programme of learning activities and events specifically designed for children and young people, including formal, informal and family focussed workshops. Principle 2 - Benefit must be to the public, or a section of the public CAFIAD'S work is available to all members of the public. Our participant backgrounds range from local to refugee families, families in crisis or with difficult circumstances, neurodiverse participants of all ages, participants with a range of and complex ombination of mental and physical health issues and those with fewer resources than many in this already resource-poor community as well as local residents and those visiting from other areas of Wales. UK or abroad. COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 OBJECTIVES AND ACTIVITIES Risk Management The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces as part of its annual business planning process and confirm that systems have been established to mitigate these risks. CARAD has a risk management strategy in place which comprises.. an annual review of the strategic risks the charity may face via the business plan the establishment of systems and procedures to mitigate those risks identified the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are in place. The Trustees consider the key risks facing the charity at this time and the mitigating actions taken to be as follows.. Vulnerability to the loss of key team members, particularly in respect of reliance upon two Trustees to manage CAFIAD on a full-time basis Fundraising strategy lo target funding to support the appointment of paid staff to manage the day-to-day running of CARAD Failure to secure adequate funding income (from trusts and foundations, eamed income, individual giving and the impact of any shortfall on liquidity of the charity).. Fundraising strategy regularly reviewed by Trustees and amended where appropriate. Regular review of reserves policy along with financial forecasts, cash flow management and review of operational business plan. Navigating the challenges arising from the current economic climate. maximising income generation, fund raising and donations, minimising expenditure at a time of uncertainty. Regular financial monitoring, flexibility and adaptability adapted as keystone principles within our business plan. Trustees also manage the general financial risks arising by ensuring that.. Prudent budgets have been set for the next financial year The charity maintains a prudent, low-cost operating base Regular management accounts are provided, showing performance against budget Contingency plans are in place should income levels appear unlikely to reach targets Reserves policies have been adopted which provide an appropriate amount of uncommitted reserves which will enable the charity to meet its liabilities. COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 ACHIEvE￿IENTs AND PERFORMANCE Summary of main achlevements of the charity during the year The Museum: Timescape Rhayaderl Amserwedd Rhaeadr Gwy, We used the winter closure to continue work on the displays, interpretation and visitor flow, ready for our full opening on 4 April 2024. We have been worked with around 57 volunteers this year. This includes the number of volunteers for Front of House work which has increased by 36./0 to 15 since the placement of the Co Ordinator, Emmeline Thrower. Timescape Rhayader has had visitors from Queensland and Perth AUS, Netherlands, Colorado and Arizona USA, as well as Wales and across the UK. Relationships are being built with organisations who bring tourists into the area. 40 % of our visitors have been from the local area We again decided to charge a fee for opening with children 1 p, accompanying carers free and a 'Pay What You Can, day once a month. We also held free event weeks with some extended opening for Rhayader Carnival week in July and the Dragon and Museums Festival during the autumn half term. We have provided several tours for visitors outside of opening hours. We have worked with the local school to provide information to support teaching elements of the curriculum from our museum collections and information. We have had excellent verbal feedback from visitors and top appreciation scores. We had a presence at the Elan Archaeology Festival. We have continued to accept relevant item donations from the community into the collections, some of which were timely in informing the telling of a particular story. We have taken advice from our Museum Mentor Carol INhittaker. As a continuation of the Welsh Government 'Decolonising the Collections, initiative, we undertook a Collections Review and altered our interpretation accordingly to better reflect the learning from the process. We have answered many queries from local people and visitors where we could and redirected those questions to local people where we weren't able to answer them ourselves. We have continued to work on our archives and documentation despite the recent challenging storage space reorganisation. Community and visitor consultation is ongoing to determine what our community and visitors would like CARAD to do and what the perceived needs that we mighl meet are. Our Outdoor Space We have continued to maintain our outdoor space with the active help of volunteers. COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE (CONTINUED) Summary of main achievements of the charity during the year (Cont.) The Welsh Museum Festival including Dragon Festival 2025 We ran a number of activities during our Autumn Dragon Festival which includes the national Museum Festival. We were fortunate in being able to employ someone to engage businesses and promote the Festival. The festival proved to be a successful piece of local networking and business engagement work, resulting in 38 businesses getting involved (local through to Welsh Water and Powys CC) selling themed goods or providing activities. We were also delighted to be part of the town's most successful 'shop trail, to date, with 29 businesses taking part and hiding coloured and cut-out paper dragons in their windows for children to find (the dragons were coloured in, cut out and named by the children of Rhayader Church of Wales Primary School). We ran nine events across the week including 'Cuttlefish Casting with CARAD,, a workshop staged as part of the Powys CC 'Autmn Adventure Weekend, at the Elan Valley Visitor Centre. This was fully booked within 3 days of going live. In Timescape, as well as opening extra days, additional family-friendly activities were run and we increased our visitor count by 3680/0. We also hosted a special networking event called 'TimeScape for Tourism,, inviting local accommodation providers and other business who welcome visitors to the area as well as civic leaders to see Timescape Rhayader, with a view to them recommending us as a visitor attraction to their guests. In tems of social media 'Dragon Festival, related coverage, during festival week we published 23 posts reaching 17698 people, and achieved 2208 pieces of engagement. The Dragon Festival was heavily advertised across our social media channels (predominantly Facebook), the CARAD website, Rhayader website, local business networks, via Welsh Museum Festival website and social media channel, flyers, and much 'word of mouth,. Rhayader Carnlval This year, we planned to have an aerial display on our trailer but torrential rain meant we had to cancel our contribution. Landed Festival We attended Landed Festival and supported Celf in their willow lantem making workshop and participated in the procession. We also had an installation reusing our gigante puppets as giant's DJS. Numeracy workshops We held a number of numeracy workshops using crafts as practical examples and although these were not well attended, those who came found great benefit. COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE (CONTINUED) Summary of main achievements of the charity during the year IConL) Shared Prosperity Fund (SPF) This was a short-term fund which allowed us to employ staff in various roles to support volunteer managers Outcomes.. Museum site manager and front of house volunteer Co-ordinator.. This role allowed us to open Timescape for three days a week and supported and Irained volunteers to do various museum and grounds related work. This member of staff was reemployed in the next financial year. Arts and Heritage development Co-ordinator.. They began the work of reinvigorating our arts offer which had taken a smaller part of CARAD'S focus due to the development of Timescape Rhayader. Additionally, they made contact with other arts organisations to promote co working and promotion. They also drove the production of the Mid Wales Heritage Hunt map which featured 13 other heritage providers across mid Wales and which will we hope allow us to jointly promote projects and share publicity. Both the Heritage and Arts networks established will need active management going forward to benefit Ihe area. They also oversaw the final developmenl of the new website. Fundraiser.. We have been able to achieve larger funding applications which gave us funding for a range of projects, notably the ability to keep on the Museum and volunteer Co- ordinator, do repairs to the buildings and develop the grounds as well as funding to run projects over the coming year. They also moved the organisation over to cloud based working via SharePoint, which was challenging but ultimately useful. Marketing.. We were able to promote the organisation and physically arrange for the design and production of the Mid Wales Heritage Hunt map and promotional materials as well as a marketing strategy. Website.. Our new website was developed by Hoffi. SPF facilitated various initiatives and group partnership meetings with Climate Change workshops run by Julie's Bicycle. Theatre We hosted Mewn Cymeriad's performance of '1 am Lloyd George, by Manon Steffan Ros with an inspirational performance by Llion Williams. A Lost Harp l A Delyn Golledig community play anniversary reunion and exhibition was held to mark the 301h anniversary of the play which led to the setting up of CARAD. It was a great success and uplifting to reminisce and meet people who had moved away, but is sadly likely to be the last of the 5 yearly reunions. 10 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 ACHIEVtf4iENTS AND PERFORMANCE (CONTINUED) Summary of main achievements of the Charity during the year (ConL) Warm Spaces or Crafternoons We were able to continue our warm space initiative, renamed Crafternoons. We have been able to run weekly afternoon drop ins offering 18 different crafts, each of which had a craft workshop teacher, a paid support worker to meet and offer support or additional information to participants and a volunteer support person who was also very good at chatting and welcoming people. We again found that the group was very successful in helping people to form strong bonds, reduGe isolation, feel safe and share difficult life experiences. This sharing proved to be very healing especially for those suffering from poor mental health. We have for example those with PTSD, trauma from multiple bereavements and abuse. We have participants with physical disabilities from mobility problems, recovery from surgery or who are older and lonely or who don't know many people in the area. They have all bonded into an accepting and supportive group of around 20 regular attendees. We are fortunate as we can offer a progression from participation to volunteering to enable people to find thoiir p12ce in the community and make new friendship networks. In particular, as with last year, one participant ended up running one of the workshops to introduce people to her craft skill. She is now selling her work In the shop. Several others helped us over the winter before volunteering over the summer as front of house and one became the Dragon Trail leaflet designer. Activities were still free to reduce any sligma of needing to be publicly supported. We offered refreshments and snacks. The sessions were so successful that our main volunteer sponsored an extra 4 sessions over the summer. These were also well attended. They were run by volunteers but with a paid support staff member. New Audiences and Participants We have a very diverse volunteer and participant base (for this area) and that is reflected in those we work with. Our participant backgrounds range from local individuals and families, families in crisis or with difficult circumstances, neurodiverse participants of all ages, participants with a range of and complex combination of mental and physical health issues and those with fewer resources than many in this community. Essentially, we cater largely for people who are not in paid employment in the day for a variety of reasons. These have always come through our doors, but their number is a great deal more since Covid. For this reason, we make every effort to offer free activities and a welcoming and safe space. Partnerships We have worked in formal but largely informal partnerships with local arts organisations, heritage, local businesses, town initiatives. including former partners in HLF Elan Links, and fellow Shared Prosperity Fund recipients. COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 ACHILvifiiENTS AND PERFORMANCE (CONTINUED) Summary of main achievements of the charlty during the year (ConL) Online Networking and Training We have attended many online meetings where initiatives to get organisations to work together and form supportive networks have been commissioned by local and national government to try to counteract the funding shortfalls and promote co working. Most folded when the facilitators. roles 8nded. We have attended training and workshops on.. Digital upgrading and website running Using Al Safeguarding to extend and update the number of volunteers and staff doing fomial training. Three trustees were DBS-certificated and the policy updated. Volunteer management and engagement Fundraising and bid writing, including sessions with a mentor Engaging children and families in museums Climate resilience and understanding environmental impacts Fundraising Social media training Research initiative re the effects of tree cover in the Elan Valley Strategy and forviard planning Writing a Forward Plan Digital Engagement Overall, a new website means that our digital activity has improved, and we have a good presence with a diverse range and ages of people and good feedback from comments. Posts about local heritage and folklore are popular, followed by those on upcoming events. Advocacy One of our roles is advocacy at national level, either online or in person, something which is vital given the reduction in public service funding and access to arts or heritage in the area. To this end, we have attended various national and local, largely online meetings. We had the front cover and wrote an AIM (Association of Independent Museums) Bulletin article upon the reopening of Timescape focussing on the resources needed to be able to provide our services. 12 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 ACHIEVEWIENTS AND PERFORMANCE (CONTINUED) Summary of main achievements of the charity during the year IConL) Community Classes and Conferences We have hosted.. Pilates, Yoga, various exercise classes, Line Dancing, adult and children's aerial skills. Sessions for Mind on Bereavement support, New Mother's Group, and 'Get back active, sessions. Four sessions by a Doula for pregnant and new mothers Several talks about the natural world and local heritage Rhayader By Nature and Timescape Archaeology talks Radnorshire Wildlife Trust soil sampling workshops Music nights with local musicians Energy advocacy and referral National Resources Wales conference ,qrts Connection community workshop A home education group's weekly meetings Private hire events, AGMS and conferences We also attended a 'What Next, careers day for people with additional needs and disabilities to highlight the opportunities in the sector and of volunteering if employment was too challenging an option. Funding At the start of this financial year, we were still impacted by the legacy.of Covid and lockdowns. Our usual income streams were lost and have still not fully recovered. We have worked hard to keep up with the day-to-day management of the organisation and increase the number and delivery of its projects. We have been greatly helped by Welsh Government funding which has allowed us still to deliver our charitable aims. The funding outlook is challenging and looks likely lo remain so for some time. Funders We would like to very much thank the funders mentioned later in this report for investing in our work and for the support they have given us. Without them, we would not be able to deliver the benefits to our community that CARAD'S project work brings. Financial Review The out-turn for the year is an unrestricted deficit of £19,241 (2024.. Deficit £21,688. The deficit will be deducted from Unrestricted Reserves, leaving a balance on Unrestricted Funds at 31 March 2025 of £41,475. 13 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 FUTURE PLANS We will continue to be advocates for Rhayader and District to local and national government and to update and review our Fo￿ard Plan. This is an area which, because of its rural locality, scattered population and the lack of media coverage of events, is often invisible when it comes to services, transport and cultural support. The unique voice of rural mid Wales, which has so much to offer Wales as a nation, is rarely heard nationally. This invisibility conceals the hidden poverty, isolation, abuse and ill health that many live with. It also leads to a feeling of disempowerment and disenfranchisement. Our cultural and community engagement work brings significant funding and other benefit inlo the area via partnership projects which would not happen without our participation. It allows people to access arts and heritage experiences and also knowledge which would be missing from the area. More specifically we want to develop". Our education offer to schools and to home schooled children. Our young people's engagement program and projects Develop our outdoor space - particularly to run family heritage and craft events and to engage ALNI SEND and NEET projects. We do have a challenge in that we have to remove a large ash tree with ash die back as well as smaller trees with rot in danger of falling. Our focus is increasingly on how climate change will affect our community, how they can be included in decisions made and understand the choices they will be asked to make. We want to continue to incorporate this in all our upcoming programmes. We would like to continue to develop partnerships with mid Wales arts and heritage providers to enable joint marketing and projects, advocacy for our sector and to increase the positive economic and wellbeing effects of the cultural sector. We are planning to continue to develop our arts programs and projects after focusing on the redevelopment of Timescape Rhayader. We need to recruit staff and new Trustees to safeguard the future of the organisation. We also need to offer new and updated training to all staff and volunteers on safeguarding. We would like to go back to a wider program of outreach work. We also need to recruit more volunteers to provide Front of House and invigilation cover for Timescape Rhayader to maintain and possibly increase our opening times. We would also like to develop our winter volunteering programme in Timescape to add interest and fill gaps in our displays. 14 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT For the year ended 31 March 2025 RESPONSIBILITIES or THE TRUSTEES The Trustees (who are also the Directors of CARAD for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the Trustees are required to: select SLlltable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgments and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will Gontinue in operation. The Truste.es are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Trustees Catherine Allan Chairtrrustee Company Registration Number 03663661 19 November 2025 INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF COMMUNITY ARTS RHAYADER AND DISTRICT FOR THE YEAR ENDED 31 MARCH 2025 I hereby report to the Trustees of CARAD (Charity Registration Number 1073317) on my examination of the accounts for the year ended 31 March 2025 set out on pages 17 to 30. Responsibilities and Bdsis of Report As the charity's Trustees (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 Examlner'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.. 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 3. 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 viev4' which is not a matter considered as part of an independent examination., or 4. the accounts have not been prepared In accordance with the methods or 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 (FRS102))- 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. Pete O'Hara, FCA, Chartered Accountant Fellow of the Institute of Chartered Accountants In England & Wales 26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AH 19 November 2025 16 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Note Unrestricted Restricted Funds Funds Total 2025 Total 2024 Income Income from Investments 40 40 33 Income from Grants, Donations & Legacies 1,145 131,734 132,879 53,053 Income from Charitable Activities 13,018 13,018 10,061 Total Income 14,203 131.734 145.937 63,147 Expenditure Expenditure on Charitable Activities 33,444 114,792 148,236 99,205 Total Expenditure 33,444 114,792 148,236 99,205 Net Incomel(Expenditure) (19,241) 16,942 (2,299) (36,058) Balance brought forward at 1 April 60,716 363,828 424,544 460,602 Balance carried forward at 31 March £41,475 £380,770 £422,245 £424,544 The notes on pages 19 to 30 form part of the financial statements. All of the activities of the company are classed as continuing. The Slatement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. 17 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITIONIBALANCE SHEET AS A T31 MARCH 2025 2025 2024 Notes Fixed Assets Tangible Fixed Assets 393,064 417,182 Current Assets Stocks Debtors Cash At Bank & In Hand 4,453 1,483 33,133 39,069 5,240 5,248 5.814 16.302 10 Creditors - Amounts Falling Due Within 1 Year (9,888) (8,940) Net Current Assetsl(Liabilities) 29,180 7,362 Total Net Assets 13 £422 245 £424 $44 Represented by: Unrestricted Reserves 14 41,475 60,716 Restricted Reserves 14 380,770 363,828 £422 245 £424 $44 The notes on pages 19 to 30 form part of the financial statements. The Trustees are satisfied that for the year ended 31 March 2025 the charity was entitled to exemption under section 477(2) of the Companies Act 2006. The Trustees also confirm that the Members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006 The Trustees acknowledge their responsibilities for,. (i} ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and (li) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393. and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity These financial statements were approved and signed by a Member of the Board of Trustees on 19 November 2025. Catherine Allan Trustee Company Registration Number 03663661 18 COMMUNITY ARTS RHAYADER AND DISTRICT {A COMP NY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting Policies Basis of Accounting These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland. {'FRS 102.), and with the Companies Act 2006 and the Statement of Recommended Practice (Charities SORP FRS 102) "Accounting and Reporting by Charities" and the Charities Act ?011. The financial statements have been prepared on the hisiorical cost basis, modified to include certain financial instruments at fair value. Aavantage has been taken of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a statement of cashflows. The financial statements are prepared in sterling, which is the functional currency of the charity. Taxatlon Status CARAD is a Charity registered under the 1960 Charities Act and is accorded exemption from liability to taxation on its income under S505 Income and Corporation Taxes Act 1988. Going Concern There are no material uncertainlies about the charity's ability to continue. Income All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income Is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.. Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity. are recognised when the charity becomes unconditionally entitled to the grant. Investment income is included when receivable. Income from charitable trading activity is accounted for when earned. other income is accounted for when receivable. 19 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting Policies (Continued) Operating Leases The charity classifies the lease of certain types of equipment as operating leases as the title to the equipment remains with the lessor. Rental charges are charged against income on a straight-line basis over the period of the lease. Tanglble Fixed Assets and Depreciation Deprecialion is provided on any fixed assets at rates calculated to write off the assets over their remaining useful lives as follows.. Equipment Fixtures & Fittings Plant & Machinery Freehold Property 25010 Straight line on cost 20 % straight line on cost 100/0 slraight line on cost 2.5C/+o Straight line on cost A full year's depreciation charge is applied in the year of acquisition and no charge is made in the year of disposal. Impalrment of Fixed Assets review for indicators of impairment is carried oui at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Flnancial Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised al the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost where there is a material adjustment. Fund Accounting Unrestricted funds are available for use at the discretion ofthe trustees in furtherance of the purposes of the charity. Designated funds are unrestricted funds earmarked by the trustees for specific purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor. 20 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting Policies (Continued) Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Judgements and Key Sources of Estimation Uncertainty The preparalion ofthe financial statements requires management to make judgements, estimates and assumptions thal affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no significant judgements or estimation uncertainty included within the financial slatements. Penslons CARAD contributes to a defined contribution pension scheme. Further details can be found in Note 9. For the defined contribution scheme, the amounl charged to the Statement of Financial Activilies in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the Balance Sheet. Legal Status The charity is a company limited by guarantee and has no share capital. The liability of each member in Ihe event of winding up is limited to £1. The company law members of the charity are the members of its Board of Trustees. Income from Investments Unrestricted Restricted Funds Funds 2025 2024 Interest Receivable 40 £40 40 £40 33 £33 The 2024 total of £33 was wholly attributable to Unrestricted Funds. 21 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 nLome from Grants, Donations & Legacies Unrestricted Restricted Funds Funds 2025 2024 Ashley Family Foundation Community Foundation in Wales (CFW) CFW- Powys Welsh Church Act - Crafternoons Children In Need Elan Links FMAG - Wild Escapes FMAG - Celtic Rainforestlclimate Rave FMAG - Museums Festival Group for Education in Museums Llysdinam I'rust Marian Gwyn National Lottery Awards For All Oakdale 'frust PAVO - Numeracy PAVO Loneliness & Isolation Fund Postcode Community Trust Rhayader Town Council UK Shared Prosperity Fund - Capital UK Shared Prosperty Fund - Revenue Welsh Government Welsh Water &lan Trust - Hearth & Home Welsh Water &lan Trust- Timescape 1,500 4,930 1,500 4,930 4,930 4,550 5,000 5,000 5,585 2,314 892 500 500 1,246 3,000 1,498 19,535 5,000 1,500 1,498 19,535 5,000 1,500 5,000 2,500 24,000 24,000 500 1,300 66,071 500 1,000 1,300 66,071 6,000 1,000 soo 130,834 131,334 51,292 Donations 645 900 1,545 1,761 £1,145 £131,734 £132,879 £53.053 Of the 2024 total of £53,053, £5,761 was attributable to Unrestricted Funds and £47,292 to Restricted Funds. 22 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Inco￿le from Charitable Activities Unrestricted Restricted Funds Funds 2025 2024 Theatre, Museum & Studio Income Sales Entrance Fees Project Income 9,210 1,937 1,871 9,210 1,937 1,871 8.479 1,182 400 £13,018 £10.061 £13,018 The 2024 total of £10,061 was wholly attributable to Unrestricted Funds. Expenditure on Charltable Activitles Unrestricted Restricted Funds Funds Total 2025 Totsl 2024 ProductionlProject Costs WorkshoplProject Costs Salaries & On Costs - Delivery Purchases & Studio Materials 1,230 54,459 22,905 340 77,704 55,689 22,905 1,633 80,227 14,642 4,130 2,523 19,921 Support Costs Rent & Rates and Premises Costs Depreciation & Amortisation Salaries & On Costs - Support Other Support Costs 14,917 2,399 2,272 9,413 29,001 7,081 22,999 4,816 21,998 25,398 7,088 20,788 25,754 21,903 37.088 66,089 77,364 Governance Costs Accountancyllndependent Examination 1.920 1,920 1,920 1,920 1,920 1,920 £33,444 £114.792 £148,236 £99,205 Of the 2024 total of £99,205. £37,543 was attributable to Unrestricted Funds and £61.662 to Restricted Funds. 23 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Net Incomel(Expenditure) 2025 2024 Net incomel{expenditure) is stated after chargingl(crediting): Independent Examiner's Fees- Current year Depreciation of owned Fixed Assets 1,920 25,398 1,920 25,754 Staff Costs & Trustees, Remuneration 2025 2024 Gross Salary Costs Redundancy Costs Employer's National Insurance Employer's Pension Contributions 29,703 25,483 271 290 £29,993 279 £26.033 No employee received remuneration of more than £60,000 during the year (2024 - Nil). The charity defines Key Management Personnel as the Trustees. No remuneration was paid by the charity during the year to Key Management Personnel. {2024. £Nil). The average number of staff employed during the year, calculated as full-time equivalents, was as follows.. 2025 2024 No Artistic Production and Support Pension benefits are provided through a Group Personal Pension Scheme, which is a defined Contribution scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. In the year to 31 March 2025 CARAD made an employerfs contribution of 3% of pensionable pay, provided that the employee makes a minimum contribution of 5,/0. .1 hese amounts are paid over to the scheme on a monthly basis. No contributions were outstanding at 31 March 2025 (2024.. £53>. No remuneration has been paid to any TrusteeslDirectors in the year {2024'. £Nil>. No reimbursement has been made of any Travel and Subsistence expenses to Trustees in respect of their work on behalf of the charity (2024.. £Nil). 24 COMMUNITY ARTS RHAYADER AND DISTRICT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 T