REGISTERED COMPANY NUMBER: 03955918 (England and Wales) REGISTERED CHARITY NUMBER: 1080667 Report of the Trustees and Financlal Statements for the Year Ended 31 March 2024 for Ymddirledolaeth Cadwraeth Adeiladau CadivgaD BuildiDg Preservallon Trust Ashmole & Co Chartered Certified Accountsnts alld Stattitory Auditors Manchesler House Grosvenor Hill Cardigan Ceredigion SA43 IHY Ashmole & Co.
YmddiriedolAeth Cadwraeth Adeiladau Cadwgan Building PreservatAon Trust Contents of the Fln3ncial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Report of the Independent Audltors 8 to 10 Statement ol Flnancial Actlvities Balanee Sheet 12 to 14 C4sh Flow Statement 15 Notss to the Cash Flow Statement 16 Notes to the FinantiAI Statements 17 to 26 Detailed Statement ol Financial Activities 27 to 28
Ymddiriedolaetb Cadwraeth Adeiladau CadwgAn Buildlng Preservadon Trust Report of the Trustees for the Year Ended 31 March 2024 The Trustees who are also Directors of the charity for the pwposes of the Companies A¢t 2006, present their report Thryth the financial statements of the charity for the year ended 31 March 2024. The Trustees have adoptcd the provisions of Accounting and Reporting by Charities.. Statcmenl of RccommeThded Practicc applicable to charities prcparing thcir accoullts in accoTdance with the Financial Reporting Staudard applicable in the UK and Republic of Ireland (FRS 102) (effeclive l January 2019)- OBJFCTtVES AND ACTIVITIES Objectives aims Our Charity's PUTposes as set out in the cornpany's memorandum of association are to.. - Preserve for the benefit of the people of Cardigan Town and of the Nation, the bistorical, archit¢cMral and constructional heritage that may exist in and around Cardigan Town in buildings (including any buildings as defmed in section 336 of the Town and County Planning Acl 1990) of particular beauty. historical or con51rn¢tional interest. Significant getivities The focus of the Trust's work is the restoration and preservation of Cardigan Castle for th¢ benefit of the people of Cardigan Town and of the Nation. Cardigan Castle is a Scheduled Monument of immense import8n¢e in Welsh heritage and Culre 3S the site of what has been regarded as the first Eisteddfod where a Bard was Chaired in 1176. Through its 900-year history the site has taken on a number of dilTerent roles and its evolution continues to this day. Cardigall Castle has been restored to att excellent standard thanks to the enthusiasm and commitment of the local community and tremendous support from external funders. The quality of this work was Tecognised not only by the Castle willniThg Channel 4's Rcstoration of the Year Award against 27 other strong ¢(mtenders, but also by the Welsh Government Minister for Culbjre, Tourism and Sport's description of Cardigan Casde as a shining example of a living Castle tILat had functions relevant to modern society. The Trustcrs and staff aTe working to ensuTC that Cardigan Castle can bc lully sustainable, generating sufficicnt revenues to provide a strong heritage and educational expcricnce while also tnaintaining the fabric of thc heritagc asset. Cardigan Castle is attracting visitors from a wide geographic area and. as well as informing these visttors about tbe history and the heritagc olthe area, this influx has had a significant positive impact on Cardigan businesses and the local economy. Visitors are able to stsy within the walls of this historic sile to cclcbrate, to learn, to do business and to dinc. Ai the sarne time. a largc number of local residents and schoolchildren are taking advantagc of tbe site's ¢ultUTal. educational. ieGreational and entertainment events. The wide rang¢ of activities taking place within th¢ walls delivers an ever-wid¢r exposure of the Castle's remarkable story. Public benefit The Trustees have reviewed the Charity'5 impact on the people of Ceredigion having regard to tbe Charity Commission guidance on public benefit and believe that nmintaining and preserving this historic mollumenL as well as educating the public, is to the public benefit. Page I
Ymddiriedolaeth Cadiyrxeth Adeiladau Cadwgan Building Preservation Trust Report of the Trn5teeg for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE Charitabl¢ activities Education Cardigan Castle IS a responsibility to facilitate learning, specifically regarding the history of the Castle, its occupants and Cardigan's ovrn rich bislory. A series of learning resources have been developed for Key Stages 1, 2 & 3 and these can be used either in the elassroom or at the Castle. Herltage 2023124 has becn a year of transition for the Castle wilh a new incoming Director. There was a brief period b¢een the outgoing and incoming Director being in post which was most ably handled by scnior Castle staff. As we move toward the tenth anniversary of the Castle's opening to the public. an ongoing process of repair and rejuvcnation of the slte, its attraciions, and thc displays within Castlc Green House is in process. Visitor Dumbers showcd a small decrease in 2023124. it is thought as a direct result of the cost-of-living crisis. Ncw pemanent altrdctsons are planned. and the website is beillg updated Following the successful application to the SPF 'Cynnal y Cardi Grant, schcme. Three ncw websites are being built, including one for the Cadwgan TrSt, and one for the 'Castle Ci)IlectioD'. Both sU51teS will sit within a ncw casier to navigate and more mobile phonc friendly main 'Cardigan Castle, website. This main site will includ¢ search engine optimisation, a custorner relationship manag¢ment system and an ecomm¢r¢¢ platfomi which will develop an online shop and ticketing provision. The 'Cadwgall sile, will include r¢l¢vant Trust materials such as the memorandum and mission statement alongside profiles of Trusfres, and will be the natural home for the annual accounts, reports and minutes. It will also include the latest news of any strategic developments. The 'Castle collection, will over time be populated with the rich history of images and items which Éhe Castle houses and holds, and the ongoing process of digitisation is already underway under the guidance of Castle historian Glen Johnson and his team of ready volunteers. This will Cap[¢ the Castle's history in an accessible way offering a greater experience to those who come to the site pre or post their visil. Th¢ flow of visitors to th¢ area who are tourists continues, and the Castle's Heritage accommodation has Continued to perfoTm well with a healthy occupancy Tate. The Castle's East wing has during this period become dual purpose as a bed and breakfast option which has been popular offering the four heritage rooms separately on a single night occupancy basis. This is in addition to being available at other times as a large single multi occupancy Selfterillg unit for larger groups of people and families. IA)cal comrnunity involvement with Cardigan Castlc continues. including event5 that catered for wide interests and all agc groups. An increase in the provision of Welsb language Theatre by 'Mewn Cymeriad, has seen growth in thc attending audicnces during the period. ALiendance has steadily increascd from initial productions to laier perfoTmances of a Lloyd George portrait piece to a capacity audience for the recent porLrayal of Kate,, clwting thc life of novelist Dr Kate Robcrts. These one person shows are a perfect fil for the Casile which deliver important cultural injections from history. During tbe period a bilingual show on Llcwelyn Fawr was also well receivcd and appreciated by an enthusiastic audience of children. Crcative West Wales and the Mid Waics Tourism group held evcnts at the Casde whicb brought ID Potential new stakcholders. Numerous local groups continue to inhabit the Castle, using it as a base for their meetings, iDcluding Welsh Language classcs for a vaticly of fluency levels starting with beginners, th¢ Archiving Group, Dyfed Family History Society and the local Welsh language pocty writing group, led by CeTi Wyn Jones. The Castle continues to expand links with heritage alld cultural organisations in Wales. The resear¢h room and its te8m ol volunie¢rs continues to go from strength to strength. Glen Johnson has recently delivered four engaging talk5 which serve as a mcans to record the continued development of the site and its fumre facing p05itioning. Page 2
Ymddiriedolaeth Cadwraeth Adeiladau Cadwgan Buildlng PTeservatfioD Tru8t Report of the Trustees for the Ye#r Ended 31 Mareh 2024 Castle tOUTS remain popular with a bigh level of appreciation. During the period we welcomed groups from America to the Castle from the crnise ships who dock at EIShgllard. Growing this potential international audience will be a target dwing the next two years when the condLtit of the new Castle website will play an important 8UPPOrting role. Language & Culture The ongoing parthcrship with Aberystwyth Univcrsily continucs to place Cardi¥an Castle ai the forefront of Welsh languagc cducation courses for adults_ During the ycar the Castle workcd with 'Ccied' Ccredigion's agency fui the promotion of the Welsh languagc alongsidc a llumber of local schools to rc5urrect the popular St. David's Day parade. Scveral hwidred pupils paraded dDwtL tbe lown's high .strcct culminating in a musical perfonnance at the Castle watchcd by a grand thrnout of the pupils, parents. This is now planned as a regular occurrence in the calendar. Financial constraints irnpacted on the 2024 sunmler cvcnts prograllttne, which the Castle hosted by itself. This cDtsiled a great deal ol work by the Castle staff with the continued help of dedicated voluntccrs. Theatr Felinfach succcssfully PTovided the ticketing servi¢e, and all marketing materials at)d the campaign was created from within the Caglle team. A most successful partnership was created with th¢ Ceredigion Music Service department to stage the Castle Proms" which saw professional artists welcome metnbers of the Youth Choir and Orch¢stra to shaTe the stage. Substantial sponsorship was attracted from Coco & Cwtsh and Cware ac Olew Trefigin to supplem¢nt the in¢ome streams for staging these perforn)ances. It is good to report that the surnmer events were enjoyed by several thousand concertgoers, as well as being commercially successful. The Castle and Theatr Mwldan worked su¢¢essfully together With Illyria and No Fit State Circus to provide popular outdoor shows. As one of the venues for the Other Voices festival held in Octtjber, the Castle Pavilion was used to host the Welsb Governrnenvs official reception for recently appointed First Minister Eluned Morgan and the Irish Ambassador. During the year successthl book launches for independent publishers w¢re also held at the Castle. In December the Castle worked in partnership with Small World Theatr¢ and Wired Wood Ltd to be the final destination for Cardigan's Annual Lantern Parade, which saw several hundred of the local community of all ages enteTing the Castle grounds, illurninated by their lanterns mdde in the workshops preccding the event and larger puppet creations from the company. This is a magical cxperiell¢e which again promenades through the town's main street with the Castle providing the pcrlect backdrop as the climax for the evei)iiig. Local Cornmunity The Castle's role within the local community saw many interactions and sharing of facilitie5 during the year. GThyl FawT Aberteifi held its proclaJn&tion event at the Casile to launch the week'5 fcstivities and a memorablc annual Icclure was given by Ccri Wyn Joncs highlighting his 'CaTdigan'. The iwo Talwrn evcnts for both young and older poets were also held in the Pavilion. The Royal British Legion held thcir commemoration of the D-Day landings in Brioude Gardens and the Castle displayed thcir Flag at th¢ Castle's cntrance to mark the event. During the year the Castle worked alongside the Town Council to effectively promote community evellls and National days by projecting agreed sp¢cific logos onto th¢ Castle wall from thc riversid¢ at the rclevant times of year. The Council also made use of the Castle's meeting rooms and conference facilities. Another client for the meeting rooms is Plaid Cymru wheTe both the AM, Blin Jones, and MP, Ben Lake hold regular clinics f(Trr the public. Page 3
YmddiriedolAeth C4dTrvraeth Adeiladau Cadwgan Building Preservatlon Trust Report of th¢ Trnstees for the Year Ended 31 March 2024 The Research RoonL continues to provide both the local community and thos¢ visitors from afar whose families lived in the area ill the past, with an invaluable service. with a sieady flow of new requests from the public. These volunteers are welcoming, inclusive and very knowledgeable in their efforts to diwlge and expand on the detailed and specific history requested by the public. We are indebted to the slaunch and ¢ontinued support of the Castle Volunteers. We are grateful to those who volunteer at events, enhancing visitors, expcticnce and understanding of thc site. The gardening tean] of volulltcets under staff guidanLe continuc5 lo develop the grDunds, vegctable garden and green house, not oThly providing an omni changing year-round visual altraction, but growing a wonderful supply of produce thal reaches the tablcs ol 1176, the Castle's onsite restauranl. With thc recent decisions by many financial organisations to reconfigure their bankll presence in towns and cities. Barclays and Lloyds banks, whosc traditional publtc facing bank provision within the town having closcd, were welcoffjcd as new Clients bascd ITh Ty Cadwgan. Both banks offcr hub services to their customcrs from the Casde's confcrcnce rooms. Hywel Dda Healih Board continues lo enjoy the excellent classroom facilities in Tl Cadwgan offering a variety of courses for palients from the ar. Thes¢ aTC just three rther ways in which the Castle enables the continued provision of important services in Cardigan. As a wedding venue the Castle offers both the local and wider community the perfect setting to get married. This year eight couples celebrated their unions at the Castle. A successful wedding fair was held in May 2024 in partnership with the Castle's resident caterers, Holdens CatCTing, along with several indepcndent providers of b¢spoke wedding services to showcase the Castle's offeTS. Holden's Catering is a key ingredient to events and conferences hosted by external ¢lients at the Castle. The standard of their cuisine and service is much appreciated by event organisers and attendees, One of the highlights of the calendar is thc annual ChrisInS Fair. The 2023 event reached out to 46 individual crafters, makers and stsllholders which was the most populated event yet. This was also reflected in the footf1 with 1200 visitors attending during the day, the m&jority being from the local community, In September 2024, the Castle was delighted to work with Cardigan's own Sarah Jam¢s MBE to bring Craft Festival Wales to the site. This thTee41ay festival of displays, workshops and some ninety iDdividual craft makers selling their wares was a Eat success. It attracted over 3,500 people throu the Castle gates and the footfall benefited the whole to1 and bodes well for establishing this festival as the largest of its kind in Wales. The year of ehange hlls led to the review of some of the Trust's slructures and, as noted in the AGM documentation, the re-introduetion of a small fee for membership of Cadwgan Trust. To avoid Gonthsion. Castle Members will be renamed as Friends of the Castle,, lo differcnliate them from Cadwgan Trust Members. We would invite all Cadwgan Members to become Fricnds of thc Castle and vice vcrsa. NAcL REvw Financial position Rcvcnues in 2023124 were £494.844 against £504,223 in the previous ycar. Revenues dccreased by £9,379 {1.90/D . Expenditure is shown in the accounts as £541,126 down £3.303 or 0.6101 against last yetrs £544.429 rellectlng the Castle Directors, haid work in controlling costs. ExpendiTe includes a non-cash bookkeeping chargc of £59,888 to write down tbe value of thc Heritage Assets to zcrD at thc end of the 125-year lease from Ceredigion County Council (see note 15 to the accounts). Excluding this notional charge, ¢xp¢nses were £481,238 and net income was £13,606. These consolidated figures include the trnst's trading subsidiary. Cardigan Castle Entetprises Limited. which had a strong ye&r and will be in & position lo rnake a donation of £150,034 to the trust before the end of December 2024. Pagc 4
Ymddiriedolaeth Cadwraeth Adeiladay Cadwgan Building Preservatlon Trust Report of the Tru3te¢$ for the Year Ended 31 March 2024 FINANCIAL REVIEW Reserves policy The Trust has £8,276,143 of restricted reserves, largely reflccting the heavy investment in heritage assets. As described in tbe Financial Review, heritage assets of £7,395.363 will be written down to nil value by the end of the lease. Unrestricted reseeS io¢reased to £l,078,565 at 31 March 2024. The Trnstees CODsider unrestricted reserves to be at a satisfactory level in relation lo annual costs. FUTURE PLANNLYG Looking to the re. initial discussions with the National Eisteddfod exploring ways in which both bodies can work together in a mutually beneficial way, Plans are undernvay to provide exciting new attractions at the Castle with further development of the lower part of the site. As we enter the tenth year of operating as & public welcoming community venue, a timetable of redecoration and rejuvenation is underway to freshen the look, fe¢1 and content of the site. The Castle is working wiih Anr Cymru to install data captur¢ monitors to record the nurnbers and flow of visitors through the site. Over time tbis will enhance our understanding of the effectiveness of each attraction we offer to visitors to the Castle. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is conlrolled by ils governing document, a deed of trnst. and constiteS a limited company. limited by guarantee. as defined by the Companies Act 2006. The organisation is a Charitable company limiled by guarant¢¢. incorporated on 21 March 2000 and registered as a Charity on I l May 2000. The company was established under a Mernorandum of Association which established the objects and powers of the Charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The directors of the company are also Charity Trustees for the puwses of Charity law. Under the requirements of the Memorandum and Articles of A5$0ciation, the number nearest to one third of the elected Trusl¢¢s must be re-elected al each Annual General Meeting. In comrnon with very many other charities, the Trust has a trading subsidiary, Cardigan Castle Enterises Limited, that carries out the non-charitable activities on site. The financial accounts attached to this report consolidate the activities of this subsidiary, but Note 13 to the accounts sun)marises its perfonnance. During 2023124, Cardigan Castle Enterprises Limited made a profit of £150.034 and this amount will be donated lo the tt before the end of the calendar year in order to support its charitable aclivities Recruitment and appointmeDt of Dew trustees New Trustees are briefed on their legal obligations under charity and company law, th¢ Charity Commission Guidance on public benefit, content of the Memorandum and Articles of Association, the ¢ommitte¢ and de¢ision-making process, and the r¢¢ent financial perfonnan¢¢ of the ¢hariÉy. Risk management The Trustees maintain a risk register which is updated regularly. They also have a duty to identify and review ihe risks to which the Charity is exposed and to ensure appropriate controls ar¢ An place to provide reasonable assurance against fraud and error. Page 5
Ymddiriedolaeth Cadwraeth Adelladau Cadwgan Bullding Preservation Trust Report of the Trustees foT the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Management Membership of the Trust is open to anyone who supports the Trusvs objectives and aims. Applications for membership are wel¢omed at any time and are considered at each Trnstees, meeting. Membership takes effect froro the date of approval by the Trustees. All Tnle¢S give their tkme voluntsrily and receive no pecuniary or other benefits from th¢ Charity. REFERENCE AND ADMINISTIUTIVE DETAILS Reglstered Company number 03955918 (Not specifie(VOther) Registered Charity number 1080667 Reglstered office Cardigan Castle Green Street CARDIGAN Ceredigion SA43 IJA Trustees EN Davie5 JC Davies AM Reed CS Hewitt K Taylor JS Jenkins Auditors Ashmole & Co MaThcbester House Grosvenor Hill Cardigan Ceredigion SA43 IHY Solicitors Agri Advisor Legal LLP, Cartretle, Bridge Street, Newcastle Emlyn SA38 9DX Page 6
Ymddirledol*eth Cadwraelh Adeiladau Cadwgan Bulldlng Pre5erv&tlon Trust Report of the Trustees for the Year Ended 31 March 2024 REFERENCE AND ADMINtSTRATIVE DETAILS Banker5 Barclays Bank plc 32 High Strect Cardigan Ceredigion SA43 IHH STA TEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees (who are also th¢ Directors of Cadwgan Building Preservation Trust for the PUTposes of company law) are responsible for prcparing the Report of the TTUSt¢cs and the financial ststements in accordance with applicabl¢ law and United Kingdom Ac¢ounÉing Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires Ihe tSte¢S to prepare financial statements for each financial year which give a trne and fair view of the state of affairs of th¢ Charitable company and of th¢ incoming resourc¢s and application of resources, including the income and expenditure, of the charitable company for that perkod. In preparing those fuwicial statements, the Trustees are rquired to.. select suitable accounting policies and then apply them consistently- observe the meihods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concem basis unle&s it is inappropriate to presume that the charitable compally will continue in business. Thc Trustees are responsible foi keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of thL Charitable compally and to cnable thcm to cnsure that the financial tatcents comply with the Companies Act 2006. 'fhey arc aliso responsible for safeguarding the asscts. of the Charitable company and hence for tthing reasonable steps for the prevention and detection of fraud and other iffegularities. In so far as thc trnstees are awarc". there is no relevant audit inforniation of which th¢ Charitsble company's auditors are unaware" and the trustees have taken all steps that they ought to have taken to make themselves awar¢ of any relevant audit infomtIOn and to establish that the auditors are aware of that infonnation. AUDITORS The auditors. Ashrnole & Co, will be proposed for re-appointment ai the forthcoming Annual General Meeting. Approved by order of the Board of Trusle¢s on .... . and signed on its behalf by.. Trustee EN Davies - Trnstee Page 7
Report of the Independent Audltors to the Trustees of Ymddirledolaeth Cxdwraeth Adelladau Cadwgan Building Preservation Trust Opinion We have audited the financial statements of Cadwgan Building Preservation Trust (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Ba1ce Sheet. the C&8h Flow St&teD]ent and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has b¢¢n applied in their preparation is applicable law and United Kingdom Ac¢ounting Standards Iunited Kingdom Generally Accepted Accounting PractiG¢). ID our opinion the fmanciai statemenls: give a true and fair view of th¢ state of the ¢haritable rompany's affairs as at 31 March 2024 and of its incoming resources and application of TesourG¢s, including its income and expendityre, for the y¢8r then ended. have been properly prepared in accordan¢e with Unitcd Kingdom Generally Accepted Accounting Practice" and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We CODducted our audit in accordance with Intcrnational Standards oll Auditing (UK) {ISAs {UK)) and applicable law. Our responsibilities under those standards are fillther described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and thc provisions availabl¢ for small entitics, in the ¢ircumstan¢es set out in note 21 to the fillan¢ial statements, and we have fulfilled our other ethical responsibilities in accordance with these requlrements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the tNste¢s' use of the going concem basis of accounting in the preparalion of the financial statements is appropriate. Based on thc work we have perfornied, we have not identified any material uncertainties relating to events or conditions that, individually or colle¢tively, May cast significant doubt on the charitable company's ability to continue as a going concern for a p¢riod of at least twelve months from when the finmcial statements are authorised for issue. Our rcsponsibilities and the responsibilTties of the trnstees with respect to going concem are described in the relevant sections of this report. Other information The trustees are responsible for the other inforn]ation, The other infomiation comprise5 the infornlation included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon, Our opinion on the financial stalements does noi cover the other inforniation and, except to the extent othenvise explicitly stated in our report, we do not express any fonn of assuran¢¢ conclusion thereon. In coi)nection with our audit of the financial slatements, our responsibility is to read the other infonnation and, in doing so, consider whether the other infonnation is nuterially inconsistent wilh th¢ financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsisten¢ies or apparent materia rnisstatements, we are required to d¢t¢rn]ine whether thi5 gives rise to a material misstatemenl in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other infornmlion. we are required lo report that fact. We have Dothing to report in this regard. Matters OD Ivhfich we thre required to report by exception We have nothing to report in respect of the following matters where the Charities {Ac¢ounts and Reports) Regulations 2008 requires us lo report to you if, in our opinion.. the InfornOn given in the R¢port of the TTUStees is inconsistent in any material respect with the financial ststements- or the charitable cornpany has not kept adequatc accounting records. or the finan¢ial statements are not in agreement with the accounting records and returns. or we hav¢ not received all the infornthtion and explanations we require for our audit. Page 8
Report of the Independent Auditors to the Trustees of Ymddiriedolaeth Cadwraeth Adelladau Cadwgan BuildiDE Preservailon Trust Responsibilities of trustees As explained more 1]Y in the Statement of Trustees, Responsibilities. the trustees (who are also the directors of the charitable company for the purposes of Company law) are responsible for the preparation of the financial statements and for being satisfied that they give a ttue and fair view. and for such internal control as the trustees detemiin¢ is necessary to enabl¢ the preparation of financial statements that are free frorn material misststemenl whether due to fraud OT error. In preparing the financial statements, the trnsfres are responsible for assessing the charitable company's ability to contlnue as a going concern, disclosing, as applicable. matter5 Telated to going concern and gIllg the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or to cease operations, or h&ve no realistic aitemative but to do so. Our responsibilities for the audit of the financir41 $tatement5 We have been appointed as auditors under Section 144 of the Charities Art 2011 and report in accordaD¢e with th¢ Act and relevant regulations rnade or having effect thereunder. Our objectives ar¢ to obtain reasonable assuranc¢ about whether the financial statements as & whole are free from material rnisstatemen¢ whether due to fraud or 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 detect a material misstatement when it exists. Misstatements can arise fron] fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users tsken on the basis of these financial statements. In identifying and &sses8ing risks of material misststernent in respect of iffegularities. including fraud and non-compliance with laws and regulations. we considered the following-. - nature of the cbarity and the se¢tor in which it operates. - the legal and regulatory framework in which the charity operates, and in particular those laws and regulations that dir¢ctly affect the fanCIal statements or have a fundarnental effe¢t on operations eg Charities Art 2011, health aThd safety legislation. - results of enquiries of management and those charged with governance any matters identified relating to the charity's policies and procedures for identifying, evaluating and complying with laws and regulations. and whether there were any known instances of non compliance. detecting and responding to the risks of fraud and whether there is any knowledge of actual, suspect¢d or alleged fraud. - the internal controls established to mitigate risks of fraud or non compliaD¢e with laws and regulatioDS. As a result of perfonning the above, w¢ did not identify any key audit matters related to potential risk of fraud or non compliance with laws and regulations. In addition to the above, our procedures in¢luded- reviewing th¢ financial statement disclosure5 and testing to supporting documelltation to assess compliance with relevant laws and regulations - enquires of management and those charged with governance concerning actual and potential litigation and Claims perforniiDg analytical procedures to identify any unusual or un¢xpect¢d relationships that may indicate risks of material misstatement due to fraud - review of minutes of committee meetings - written representations A further description of our Tegponsibilities for the audit of the financial statements 18 located on the Financial Reporting Council's website at www.fr¢.org.uklaudilorsresponstbilities. This d¢scription forn]s part of our Report of the Independent Auditors. Page 9
Report of the Independent Auditors to the Trusteey of Ymddlriedolaeth Ctddwraeth Adelladau Cadwgrdn Buildlng Preservatlon Trust Use of our report This report is made solcly to the chltable company's tnjstecs. as a body, in accord&nce with Patt 4 of the Charilics (Accounts and Reports) Regulation8 2008. Our audit work has been undertaken so that we might state to the charitable ompany's tnjstses those malters we are required to state to them in an auditors, report and for no other pury)0se. To the fullest extenl perniitted by law, we do not accept or assume responsibility to anyone other than the charitable cornpany and the charitable company's truslees as a body, for our audit work, for this r¢poQ or for the opinions we have fonned. Agk--IL Ashmole & Co Eligiblc lo act a5 an auditor in tern)s of Section 1212 of the Companies Act 2006 Manchester Housc Grosvenor Hill Cardigan Ceredigion SA43 IHY Date: ....... Page 10
Ymddiriedolaeth Cadwraeth Adeiladau Cadwgan Building Preservation Trust Statement of Financial Activities lor the YeAr Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total nds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 4,615 4.615 8.487 Charltable activities Ca5tlc Activities 99,146 99.146 83,811 Other trading activities Investment incom 388,377 2,706 388.377 2,706 411,814 Total 494,844 494 844 504,223 EXPENDITURE ON Raising funds 191,967 191,967 209.278 Charitable aetivfides Casde Activities 258,979 90,180 349.159 335.151 Total 450,946 541,126 544 429 NET INCOMEI(EXPENDITURE} 43,898 (90.180) (46,282) (40,206) RECONCILIATION OF FUNDS Total funds brought forward 1,034,667 8,366,323 9.400,990 9.441,196 TOTAL FUNDS CARIUED FORWARD 1.078,565 8,276 143 9.354,708 9,400,990 The notes forni part of these financial statements Pagell
Ymddiriedolaeth Cadwraeth Adeiladau Cadwgan Building Preservation Trust Balance Sheet- CoDsolidated 31 Mthreh 2024 31.3.24 Total nds 31.3.23 Totsl funds Unrestricted fund Restricted fund Notes FLYED ASSETS Tangible assets Heritage assets 14 15 22,018 1,294,657 7,395,363 1,316.675 7,395,363 1,339,746 7.455,251 22,018 8,690,020 ,712,038 8,794,997 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 16 17 16,902 62,644 1069,591 16,902 62,644 1069,591 12,638 50.509 1059 129 1,149.137 1,149.137 1.122,276 CREDITORS Amounts falling due within one year 18 (92,590) (413,877) (506,467) (516,283) NET CURRENT ASSETS 1056,547 413,877 642,670 605.993 TOTAL ASSETS LESS CURRENT LIABILITIES 1,078,565 8.276,143 9,354.708 9,400,990 NET ASSETS 1,078,565 8.276.143 9,354,708 9,400,990 FUNDS Unreslri¢ted ndS Restricted funds 19 1.078,565 8 276,143 1,034.667 8 366 323 TOTAL FUNDS 9 354,708 9.400 990 The notes forn] part of these financial statements Page 12 continued...
YmddJriedoAaeth C2dwraeth Adeiladau Cadivgan Building Preservation Trust Balance Sheet- Charity 31 March 2024 31.3.24 Total nds 31.3.23 Total fimds Unrcstricted fund Restricted fund Notes FIXED ASSETS TaDgible assets Heritage assets 14 15 22.018 1,294,657 7,395.363 1,316,675 7,395 363 1,339,746 7.455 251 22,018 8,690.020 8,712,038 8,794.997 CURRLNT ASSETS Stocks Dcbtors Cash at bank and in Iwid 17 34,606 423,559 34,606 423,559 389,573 472,087 458,165 458,165 861.660 CREDITORS Atnounts falling due within one year 18 (413,877) (413,877) (413,877) NET CURRENT ASSETS 458,165 413 877) TOTAL ASSETS LESS CURRFNT LIABILITIES 480.183 8,276,143 8.756,326 9.242,780 ET ASSETS 480,183 8.276.143 8.756,326 9.242.780 FUNDS Unrestricted fimd5 Restricted ndS 19 480,183 8,276,143 876,457 8.366,323 TOTAL FUNDS 8 756 326 9,242 7110 The notes fonn part of these financial statements Page l3 continued..
Ymddiriedolaeth Cadjyraeth AdeiladAu C4dwg2n Building Preservation Trust Balance Sheet- eontinued 31 March 2024 The charitable Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not deposited llutice, pursuant to Scction 476 of thc Companies Act 2006 Tequiring all audit of these financial statements. The trustees acknowledge their rcsponsibilities for (a) nsuring that the cbarilable cornpany keeps accounting records that comply with Sections 386 and 387 of the Companies Aot 2006 and preparing financial statements which give a trne and fair view of the state of affairs of the charitable company as at the end of each financial year and of its SULylus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companie5 Act 2006 relating to finanGial statements, so far as applicable to the charitable company. (b) These financial statements have been audiled under the requirements of Section 145 of the Charities Act 2011. These fman¢ial statements have been prepared in accordance with the provisions applicable to charitable componies subject to the srnall companies regime. 2L-)I:i*...... The financial statements were approved by the Board of Trustees and authorised for issue on ......... nd were signed on its behalf by.. Trust EN Davies - Trustee rnstee CS Hewitt- Tntee The notes forn] part of these financial statements Page 14
Ymddiriedolaetb Cadwraeth Adeiladau Cadwgan Building Preseryation Trust Cash Flow Statement or the Year Ended 31 March 2024 31.3.24 31.3.23 Notes Cash flows from operating actlvities Cash generated from operations Net ¢ash provided by operating activities Cash flows from finvesting Activities Purchase of tangible fixed assets Interest received (14,561) (19,729) Net Cash used in investing activities 11,855) 19.618) Change In cY4sh and cash equivaleDt$ in tbe reportlng period Cash and cash equivalents at the beginning of the reporting perlod 10,462 25,280 645.252 619,972 Casb and cash equivalents At the end of the reporting perkod 655.714 645 252 The notes forni part of these financial stalem¢nts Pag¢ 15
YmddArfiedol*eth Cadwraeth Adeiladau Cadwgan Bullding PreseryAtlon Trust Notes to the Cash Floiv Statement for the Year Ended 31 March 2024 RECONCtLIATION OF NET EXPENDITURE TO NLT CASH FLOW FROM OPERATING ACTivrriEs 31.3.24 31.3.23 Net expenditure for the reporting period (as per the Stydtement or Financial Ac¢ivities) Adjustments for: Depreciation charge5 Interest received {Increase}Ide¢rease in stocks Increase in debtors {Decrease)lincrease in creditors (46,282) {40,206) 97,519 (2,706) (4.264) (12,135) 9,815 99,633 (iii) {29,429) Net CY&5h provided by operAtioDS ANALYSIS OF CASH AND CASH EQUIVALENTS 31.3.24 31.3.23 Cash in hand Notice deposits Oe8S than 3 months) Overdrafis included in bank loans and overdTaft5 falling thie within on¢ year 5.432 1,064,159 413.877 3,317 1.055,812 413 877 Total Cash and Cash equivalents 655 714 645 252 AIYALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand Bank overdraft 1,059.129 413.877 10,462 1,069,591 413,877 645.252 10,462 655,714 Total 645 252 655,714 The notes form part of these financial statements Page 16
Ymddiriedolaetb Cadwraeth Adeiladau Cadivgan Bulldlng Preservation Trust Notes to the Financial Statements for the Year Ended 31 Mar¢h 2024 AccouNfiNG POLICIES Basis of preparing the financial statements The financial statements of thc Lharitable company. which is a public benefit cntity under FRS 102, hav¢ been prepared in accordance with the Charities SORP (fRS 102) 'Accounting and Reporting by Cbarities.. Ststement of Recommended PTaclice applicable to char(ties prepaTing iheir accounts in accordance with the Financial Reporting SLqndard applicable in the UK aDd Republic of Iicland (FRS 102) (effective l January 2019}'. Finuncial Reporting Standard 102 The Financial Rcporting Standard applicable in thL UK and Republic of Ireland, and the Companics Act 2006. Thc fmdllcial StateMt$ have been prcpared under the historical cost convention. Preparation uf eonsolidated financial statements CaTdigan C&8tle Enictprises Limited (a company limited by garant¢C with no share upital) is a wholly owned subsidiary of Cadwgan Building Preservation Trust. The consolidated accounts incorporate thc iesults of Cadwgan Building PTes¢rv&lion Trust (thc Charity) and its subsidiary Cardigan C&stle Enterprises Limited. No separate company Statemcnt of Financial Activities (SOTrA) bas been prepared for the ChaTity 115 permitted by the Companies Act 2006 and paragrapb 397 of the SORP. In¢om¢ All income is recognised in the Starement of FinaT]¢ial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount ¢an be measured reliably. Eipenditure Liabilities are recognised as expendire as soon as there is a legal or constructive obligation committlng the charity to that expenditur¢, it is probable that a transfer of economic benefits will be required in settlement and the amount of tbe obligation can be measured reliably. Expendittwe is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly artributsd to particular headings they have been allocated to activities on a basis consistent with the use of resources. Allocation #nd apportionment of costs Costs are allocated between direct charitAble and trading expendithre according to the nature of the cost. Tangible fjxed assets Depreciation is provided at the following annual rates tn order to wrifr off each asset over its estinted useful life. Frechold property PlallL and machinery Fixtures and fittings not provided 25 % on Icducing balance 25 /0 on cost and 25Q/o on reducing balance Herilage 8s8ets Heritage a5scL8 are ihe tangible a8sels of the Charity that are ofhistorical importance and are bcing held to advance the prLservatinn. consctvation and educational objcclives of thc Charity and thr()ugh publk¢ access conlribule lo the nation's culture and education. The castle and its grounds and all subsequent restoration and development expenditure in these assets are considered to bc heritage assets. In COrdanCe with the Ttust's accounting policy, the value of the original heritage asset acquired under the lease is not included within the financial statements as due to the historic and unique nature of the assets concerned, onventional approaches lack sufficient reliability to give a meaning1 value to the asset. Stocks Sto¢ks are valued at the lower of cost and net realisable valuc, after making due allowance for obsolete and slow rnoving iterns. Page 17 continued...
Ymddiriedolaeth Cadwraeth Adelladau Cadwgan Building Preservation Trust Notes to the Financial Statements - continued for the Year Ended 31 Mirch 2024 ACcoING POLICIES - continued Taxation The ¢barity is exempt from corpor&tion tax on its charitable activities. FuDd aecollnting Unrestricted thnds can be used in accordance with the Charitable objectives at the discretion of the trustses. Restrirtcd funds can only be uscd for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for p}icUlar rcstticled purposes. Further explanation of the nature and purpose of cach fund is included in the notes to the financial statement5. Pension costs and other post-retirernent benefits The charitable company opeTates a defined contribution pension schern¢. Contributions payable to the charitsble company's pension schcme are charged io ihe Statement of Financial Activities in the period to which they rclate. DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations 4,615 8,487 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Shop income Room hiTe ReThtal income F.venls income 1176 incolnc A0mOdatiOn Othcr sales 25,204 37.614 9.000 16,936 40,440 255.877 3.306 24,804 51,843 9.000 42,953 41,673 237,459 388,377 411,814 ll¥lVESTMENT INCOME 31.3.24 31.3.23 Bank COUnt interest Page 18 continued...
Ymddiriedolaeth Cadwraetb Adeiladau CadTrYgan Building Preservation Trust Notes to the Financial Stalements - eontinued for the Year Ended 31 March 2024 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity Admissions Castl¢ Activities Educational tours and courses Castle Activities Ceredigion CC grant Cast]¢ Activitics 90,488 1.608 7.050 82,448 1,363 83,811 RAISING FUNDS Other trading activities 31.3.24 31.3.23 Purchases Staff costs Accommodation expenses EveDts expenses Licences and pcrniits Marketing and publicity Maintenance and other trading 15,723 40.333 78,259 24,680 2.192 7.212 19,183 45,618 74,308 32,899 896 7.764 28,610 191,967 209.278 CHARrrABLE ACTIVTTtES COSTS Support osts (see note 8) Direct Costs Totals Castl¢ Activities 340,951 349,159 SUPPOKT COSTS GovernanG¢ Costs Management Other Totals Castle Activities 238 237 97,519 340,951 Page 19 continued...
Ymddiriedolaeth C&dwraeth Adeiladau Cadwgan Buildlng Preservatlon Trust Notes to the Financial Staternents - continued for the Year Ended 31 March 2024 NET INCOME/(EXPENDITURE) Net incomel(exp¢nditure) is stafrd after chargingl(¢rediting): 31.3.24 31.3.23 Auditors, remuneration Auditors, remuneration for non audit work Depreciation- tangible Depreciation - beritage 2.802 2,393 37,632 59,888 2,580 2,200 39,262 60,371 io. TRUSTEES, REMUNERATION AND BENEFITS There were no tsus¢ees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. 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 salaries Social security costs 193,340 11.092 200,953 204 432 214 407 No employee received in ex¢¢ss of £60,000. Staff Categories The nurnber of staff employed by the charity durAng the year was as follows: MaThagen]ent Operational Finance 13 16 Page 20 continii¢d...
Ymddiriedolgeth Cadwraeth Adeiladau Cadwgan Bvllding Preservation Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 8,486 8,487 Charitable aetivities Castle Activities 83.811 83,811 Oth¢r trading activities Investment income 411,814 411,814 Total EXPENDITURE ON Raising funds 209,278 209,278 Charit*ble activities Castle Activities 240.451 94,700 335,151 Total 94,700 544,429 NET INCOMEI(EXPENDITURE) 54,493 (94,699) (40.206) RECONCILIATION OF FUNDS Total funds brought fonvard 980,173 8,461,023 9,441,196 TOTAL FUNDS CARRIED FORWARD 1,034,666 8 366,324 9 400,990 13. SUBSIDIARY COMPANY The charity has a wholly oMry)ed subsidiary Cardigan Castle Ent¢Tprises Ltd, a company limited by guarantee and incorporated in England and Wales. The ¢ompany carries out trading and comrner¢ial activity with tbe PUTpose of raising money for donation lo lh¢ charity. A summary of its fllwjcial Activity is given below: 31.03.24 31.03.23 Turnover Cost of sales Overhead 380.984 144,421 404,177 155,896 Nel (defi¢it)Isurplus before donation to the Charity 150034 163 028 Donation to the Chhrity 150,034 163,028 Page21 continued...
Ymddiriedolaeth Cadwraeth Adeiladau Cadwgan Buildin¥ Preservation TTUSt Notes to the Finan¢iYdl Slatements- continued for the Year Ended 31 Margh 2024 14. TANGIBLE FIXED ASSETS FixtUTe5 Freehold property Plant alld machinery rittings Totals COST At l April 2023 Additions 1,274,956 85,834 11.420 1,154.991 3.141 2,5 15.781 14.561 At 31 March 2024 1,274.956 97,254 1,158.132 2.530.342 DEPRECIATION Ai l April 2023 Charge for year 62,876 8,595 1.113.159 29,037 1,176.035 37,632 At 31 March 2024 71,471 1,142,196 1,213,667 NET BOOK VALUE At 31 March 2024 1.274,956 25.783 15.936 .316,675 At 31 March 2023 1,274,956 22.958 41,832 1,339,746 Included in cost or valuation of12nd and buildings is frcebold land of £1.274,956 (2023 £1.274.956) which is not dcpreciated. FTcchvld property cornpriscs Ty Cadwgan which was acquired by the charity in 2014-15 and also Ty Castell which was acquired by the charity in 2011-12 and improvements to thesc properties. No depreciation is bcing charged on these properties. a.8 th¢ trustees consider the expected residual values to be sufficicntly high to deem depreciation immaterial. Included in tsngible assets are fixtures and fittings held by the subsidiary company> Cardigan Castle Enterprise Ltd with a net book value of nil (2023 - nil) Page 22 continued...
Ymddirieilo19etb CAdwraeth Adeiladau Cadwgan Bulldlng Preservation Trust Noles to the Financial Statements- continued for the Year Ended 31 Mthrch 2024 15. HERITAGE ASSETS Total COST At l April 2023 Restoration work dotle in the year 8,009,008 At 31 March 2024 8,009,008 DEPRECIATION At l April 2023 Depreciation charge for the year 553,757 59.888 At 31 March 2024 613,645 NET BOOK VALUE At 31 March 2024 7,395.363 At 31 March 2023 7.455,251 The heritage assets consist of the costs of restoration works to the castle buildings and its grounds. Cardigan Castle and its grounds arc leased to Cadwgan Building Preservation Trust for 125 years effective from Febnjary 2013. The cost of the acquisition of the lease is nil. An open market valuation is impractical and onventional valuation techniques cannot be applied. Depreciation is provided to amortise the improvement expenditure over the tenn of the lease (125 years). 16. STOCKS 31.3.24 31.3.23 Stocks 16,902 12,638 Page 23 continued...
Ymddiriedolaeth Cadwraeth Adeilad2U Cadwgan BuildiDg Pre5¢rvalion Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 31.3.24 31.3.23 Group 31,021 19,559 Group 23,659 14,618 Charity Charity Trade debtors Oth¢r debtotE VAT Prepayments Cardigan Castle Enteryirises 19,559 14,618 12.064 12,232 12,064 12,232 2,983 362,723 62,&44 50,509 34,606 389,573 18. CREDITORS: AMOUNTS FALLING DUE WITHif4 ONE YEAR 31.3.24 31.3.23 31.3.24 31.3.23 Group Group 41,324 45,100 46.175 52,488 5.090 4,818 413.877 413,877 Charity Charity Other Creditors Accrued expenses VAT Bank 413,877 413,877 506,466 516.283 413,877 413,877 19. MOVEMENT IN FUNDS Net movement in fvnds At 31.3.24 At 1.4.23 Unrestricted funds General fund 1.034,667 43,898 1,078,565 Restrieted (unds Restricted 8,366.323 {90.180) 8,276,143 TOTAL FUNDS 9.400,990 46.282) 9 354 708 Page 24 continued...
Ymddiriedolaeth Cadwraeth Adeiladau Cadwgan Buildiug Preservation Trust Notes to the Financial Staternentx - eontinued for th¢ Year Ended 31 March 2024 19. MOVEMEI¥4T IN FUNDS- contfinlled Net movement in flds, included in the above are as follows: Incoming resources Resources expended Movement in fidS Unre5trieted funds General fund 494,844 (450.946) 43,898 Restricted funds Re5trRcted (90,180) (90,180) TOTAL FUNDS 494,844 541 126) 46.282 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestrlcted funds General fund 980,173 54,494 1.034,667 R¢stricted funds RestriLted 8.461,023 (94.700) 8,366.323 TOTAL FUNDS 9,441196 40.206 9,400 990 Comparative net movement in nds, included in th¢ above are as follow5: Incoming iesources Resources expended Movernent in funds Unrestricled funds General fund 504,222 (449,728) 54,494 Restricted funds Restricted (94,701) (94,700) TOTAL FU24DS 504.223 544,429) Page 25 ontinued..
Ymddiriedolaeth Cadwraeth Adeiladau Cadwgan Building Preservation Trust Notes to the Financial Statement5 - continued for the Year Ended 31 March 2024 19. MOVEMEP4T IN FUNDS - continlled A current year 12 months and prior year 12 TnoThths combined position is follows.. Net movemenl in ftmds At 31.3.24 At 1.4.22 Unrestricted funds General fimd 980.173 98,392 1,078,565 Restritted funds Restricted 8,461,023 (184.880) 8,276,143 TOTAL FUNDS 9,441,196 86,488 9.354,708 A ¢urrent year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Uurestricted funds General fund 999,066 (900,674) 98,392 Restricted funds Restricted (184,881) (184,880) TOTAL FUNDS 999 067 (1085 555} 20. RELATED PARTY DISCLOSURES There were no relatcd paty transactions for the year ended 31 March 2024. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES 21. In Gommon with many other businesses of our size and nature we use our &uditOTS to prepare and submit retun to the tsx authorities and assist with the preparation of the fllmncial statements. 22. cOG CONCERN These financial statements are PT¢pared on thc going concern basis. Page 26 continued..
Ymddiriedolaeth Cadwraeth Adeilada Cadwgan Building Preservatlon Trusl Detail¢d Statement Df Financial Activities for the Year Ended 31 Mydrch 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and legacies Donations 4.615 8,487 Other trading activities Shop income Room hiTe Rental incoTne EvLtS income 1176 incotnc Accomrnodation Othcr sales 25,204 37,614 9,000 16,936 40.440 255,877 3.306 24.804 51,843 9,000 42,953 41.673 237.459 4.082 388.377 411,814 Investhient iDcome Bank account interest 2,706 iii Charfitable 4¢tivitles Admissions Educational tours and courses Cer¢digion CC bTant 90,488 1,608 7,050 82,448 1.363 Total intomlng resour¢es 494,844 504,223 EXPENDITURE Other tradlng activities Purchascs Wages Social security & Pension cost Accomrnodation expenses Evenis expenscs Licences and perniits Marketing and publicity Maintenancc and other trading 15,723 38.676 1.657 78.259 24,680 2.192 7,212 19.183 43,894 1.724 74,308 32,899 896 7.764 28.610 191.967 209,278 Charitable &ctivltles Professional fees Carried forward 1,792 1.792 2,222 2,222 This page does not forni part of the StatOry financial glatemcnts Page 27
Ymddiriedolaeth CadwrY4eth Adeiladau Cgdwgan Building PTes¢rvation Trust Detailed Statement of Financial Activttics for the Year Ended 31 March 2024 31.3.24 31.3.23 Charitable actlvities Brought forward Repairs and renewals Gardening expenses 1,792 1,807 2,222 1,341 1,385 8,208 4,948 Support costs Managemellt Wages Social Sccurity & P¢nsion C05t Rates and water Insurance Light and heat Office Costs Cleaning and waste disposal Staff recruith]ent and training Travel and subsistence Bank charges Legal and professional costs Credit card Charges 154,664 9,434 5,471 10,311 40,672 8,195 2,064 1,326 1,622 686 1,275 157,059 11,730 5,115 9,594 23,133 8,659 2,180 250 1,479 677 1.485 238,237 225,790 Other Deprcciatiun of tangible assets Depreciation of heritagc assets 37,631 59,888 39,262 60.371 97,519 99,633 Governanee costs Audilors. remuneration Auditors, remuneration for non audil work 2,802 2,580 2.200 5,195 Total resources expended 541 126 544,429 Net expenditure 46,282 +cadw { 111 I)11.)¥ This page does not forn] part of the statutory financial statements Pagc 28