COMPANY REGISTRATION NUMBER: 03469982 CHARITY REGISTRATION NUMBER: 1082013
Menai Bridge Community Heritage Trust Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2024
DRAFT ACCOUNTS
PARKER O'REGAN TANN & CO
Chartered Certified Accountants Bangor Business Centre 2 Farrar Road Bangor Gwynedd LL57 1LJ
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 20 |
| Notes to the detailed statement of financial activities | 22 |
Draft Accounts
09:10 on 2 December 2024
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
Registered charity name
Menai Bridge Community Heritage Trust Limited
Charity registration number 1082013 Company registration number 03469982 Principal office and registered Canolfan Thomas Telford office Mona Road Menai Bridge Anglesey LL59 5EA
The trustees
David Hall (Resigned 31 October 2023) John Cole Gareth Jones Kerry Evans Benjamin Poulton Aaron Osborne-Taylor (Resigned 3 January 2024) Jennifer Porter Jamie Roberts (Appointed 31 May 2023) Company secretary Fiona Warburton Independent examiner Buddug Ritchie FCCA
Structure, governance and management
Menai Bridge Community Heritage Trust Limited is a charitable company limited by guarantee, incorporated on 24 November 1997 and registered as a charity on 14 August 2000. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Trustees are recruited as and when necessary to maintain the boards' strength and range of expertise and experience. Suitable candidates are usually invited from among the Trust's existing volunteers cohort or established supporters.
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Objectives and activities
The Trust's charitable purposes are three-fold and it is able to raise funds to pursue them
-
Advancement of education
-
Advancement of heritage
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Preservation of historic buildings
The aims and objectives, set out in the Forward Plan, focus on the interpretation of the historical, architectural and constructional heritage of bridges and buildings in and around Menai Bridge and relate them to the social, economic and environmental history of the Menai Strait and surrounding area.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Draft Accounts
09:10 on 2 December 2024
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Achievements and performance
Since its foundation in 1997, the Trust has received considerable support through the years from many skilled and dedicated volunteers and Trustees. They successfully raised the funds to buy the Old School, now known as Canolfan Thomas Telford Centre, to create a base for the advancement of education and heritage, which celebrates, interprets and disseminates knowledge about the innovative bridge building achievements on the Menai Strait and their impact on the surroundings. The enterprise has resulted in a whole variety of community events, the provision of regular local education workshops and a fully accredited Bridges Museum open for six months of the year and for special events.
Coming out of the post-Covid period and reflecting on changes to the Board of Trustees and a reducing volunteer base, the Trust has reviewed its Forward Plan to focus on securing a sustainable future. The planned relocation to Prince's Pier was deemed to be no longer financially viable, and the Trust is seeking a mutually agreed termination of the partnership agreement with Menter Môn. The Trust was awarded a small grant from the Federation of Museums Wales to develop refreshed interpretation and building enhancements for the existing site, which is expected to help to inform the longer-term activities of the Trust. The Queen's death and funeral meant the country came to a halt for month of September 2022.
Donations and income
The Trust continues to receive regular income from hall hire to local community groups and for organisations' special events, and has received a number of small one-off donations including sponsorship from Spencer Group, who are maintaining the Menai Bridge, and Cadarn Consulting. Sponsorship was received from Mott MacDonald, Ymgynghoriaeth Gwynedd Consultancy (YGC), UK Highways Limited and Equitix, and Cadarn Consulting to produce a further series of Children's books featuring the Lions of Britannia Bridge to be released in Summer 2023. Book One (2020) of Lions of Britannia Bridge increased sales and distribution through the Welsh Books Council and the Library service, with profits being returned to the Trust. A grant was received from Medrwn Môn in Summer 2022 for "Summer of Fun" events. Trustees continue to seek new sources of regular income and donations, and note that income will need to increase longer term to reflect increases in fixed operating costs.
Activities and Volunteer Achievements
In June 2022, a memorial plaque to Bob Daimond, was jointly unveiled with the Institute of Civil Engineers and Chartered Institution of Highways and Transportation, followed by a reception led by the President of the Institute of Civil Engineers. Bob was one of the founders of the Trust and Museum, and his contribution was immense. Bob remains sorely missed.
The Trust has delivered a number of bridge building workshop programmes for local Primary schools and continues to hold walks and talks on the History of the Menai Strait and Bridges. The sudden closure of Menai Bridge in late 2022 brought the history of the bridge and Museum into the spotlight, and generated renewed interest from the community. The Centre has been the hub for community engagement events relating to current plans for the Bridges, and hosted events throughout the year, including a spring and autumn lecture series on a variety of topics. The facilities continue to be hired for a broad range of community activities including Zumba; Kids Fitness; camera club; canoe club; gong bath; home education group and Unitarian group. The Centre was hired as avenue for a professional acting company to rehearse and perform Christmas Carol for the local community. We welcomed Michael Portillo to the Centre for a future episode of his Great British Railway Journeys BBC series.
Draft Accounts
09:10 on 2 December 2024
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Forward Look
Trustees continue to engage with stakeholders and supporters to assist with the implementation of the revised Forward Plan. Anniversary celebrations for Britannia Bridge in 2025 and Menai Bridge in 2026 will raise the profile of the Museum and create new opportunities to raise funding, and also attract new trustees and volunteers. The Trustees are focusing on organisational sustainability and organic growth and no major projects are intended to be pursued in the near future. The Trust will also continue to maintain its charitable purposes and objectives, and looks forward to renewing its Accreditation during 2024.
Financial review
At 31 March 2023 the Charity's unrestricted funds amounted to £16,105 surplus. The Trustees are aware that increases in fixed costs against a decline in grant income and donations requires careful management to ensure that current assets are sufficient to ensure continuation of the activities of the organisation.
Risk management
The Trustees are responsible for assessing the risks faced by the Trust and undertake a formal review of the charity's risk management process on a regular basis. This includes regular reviews of existing policies and procedures and creation and adoption of new ones e.g. GDPR.
Risk is managed under the headings of financial sustainability, the safety of employees, volunteers and users within the Centre and during outside activities as well as damage and theft of heritage assets. Through the risk management processes, the Trustees are satisfied that the major risks identified have been adequately mitigated. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Jennifer Porter Trustee
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Menai Bridge Community Heritage Trust Limited
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Menai Bridge Community Heritage Trust Limited ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Independent examiner's statement - matter of concern identified
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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Buddug Ritchie FCCA Independent Examiner Parker O'Regan Tann & Co Bangor Business Centre 2 Farrar Road Bangor Gwynedd LL57 1LJ
Draft Accounts
09:10 on 2 December 2024
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 5,956 | – | 5,956 | 7,762 |
| Other trading activities | 6 | 21,892 | – | 21,892 | 16,410 |
| Other income | 7 | 360 | – | 360 | 453 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total income | 28,208 | – | 28,208 | 24,625 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 8 | 12,629 | – | 12,629 | 10,504 |
| Expenditure on charitable activities | 9 | 17,636 | – | 17,636 | 25,869 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 30,265 | – | 30,265 | 36,373 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Net expenditure and net movement | in | ||||
| funds | (2,057) | – | (2,057) | (11,748) | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 16,105 | 286,176 | 302,281 | 314,029 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 14,048 | 286,176 | 300,224 | 302,281 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 18 form part of these financial statements.
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 14 | 292,437 | 292,514 | |
| Current assets | ||||
| Stocks | 4,604 | 3,854 | ||
| Debtors | 16 | 4,023 | 4,114 | |
| Cash at bank and in hand | 4,009 | 12,771 | ||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| 12,636 | 20,739 | |||
| Creditors: amounts falling due within one year | 17 | 4,849 | 10,972 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |||
| Net current assets | 7,787 | 9,767 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 300,224 | 302,281 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net assets | 300,224 | 302,281 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| Funds of the charity | ||||
| Restricted funds | 286,176 | 286,176 | ||
| Unrestricted funds | 14,048 | 16,105 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total charity funds | 21 | 300,224 ৶৶৶৶৶৶৶৶৶ |
302,281 ৶৶৶৶৶৶৶৶৶ |
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Jennifer Porter Trustee
The notes on pages 8 to 18 form part of these financial statements.
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Canolfan Thomas Telford, Mona Road, Menai Bridge, Anglesey, LL59 5EA.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. The entity is a small charity and as such, the exemption available under section 1 of FRS 102 with regard to presenting a Cash Flow Statement has been taken.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that 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.
Fund accounting
Unrestricted funds comprise accumulated surpluses and deficits on the general funds that are available for use at the discretion of the trustees in furtherance of the general objects of the charity and have not been designated for other purposes.
Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors.
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income 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, gifts and grants 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.
Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities where the value can be quantified. The value of services provided by volunteers has not been included.
Items donated for resale through the charity's shop are included as incoming resources within activities for generating funds when they are sold.
Incoming resources from grants are credited to government grants. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Incoming resources from the charity shop and other trading income is included in the year in which it is receivable.
Investment income is included in the year in which it is receivable.
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of raising funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource.
Tangible assets
All fixed assets are initially recorded at cost less accumulated depreciation. The cost for minor additions are not capitalised.
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
- 12% straight line
No depreciation has been provided on the land and freehold property. An assessment of the net realisable value of the property at historic cost has been undertaken. On the basis that the property will be well maintained and such repair cost will be charged to the income statement, it is the view of the trustees that the net realisable value equates to cost. On the basis of the above, no charge is necessary as it would be immaterial.
Since no depreciation is charged on freehold property this is not in accordance with the Companies Act 2006 and FRS 102.
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Heritage assets
a) Nature and scale of the collection
Menai Bridge Community Heritage Trust holds a collection of heritage assets that relate to the historical, environmental, architectural and constructional heritage of the Menai Strait and of the communities and buildings in and around the local area.
The Trust's heritage assets are held mainly at Canolfan Thomas Telford and records of the assets are available to view at the centre.
The collection consists of metal, wood and other artefacts, pictures, post cards and documents from, or relating to, the two Menai bridges, the Holyhead Road and the social and cultural heritage of the area. It also includes some audio material.
b) Policies on acquisitions, preservation, management and disposal
Acquisition
Acquisitions are primarily by donation or long term loan. However, on the rare occasion when a particularly important asset is available which meets the Trust's collection criteria and objectives, the trust may undertake to purchase the asset.
Preservation and management
The trust has a duty of care for the heritage assets and to make them available for the enjoyment and education of the public as far as possible, commensurate with their long term care and preservation.
Assets are collated, preserved and managed to the highest possible standards commensurate with the Accreditation status, and the catalogues are made available as widely as possible to facilitate all enquiries and requests for information, subject to appropriate security and data protection guidelines.
Disposal
The assets in the collection cannot generally be disposed by the trust. Therefore the trustees' power to de-accession from the collection whether by sale, exchange, or gift is limited and there is a strong legal presumption against this. Detail of the trust's Collection Policies (including disposal) can be obtained from Canolfan Thomas Telford in core documents.
c) Heritage assets not recognised on the balance sheet
The trust does not consider that accurate cost or valuation information can be obtained for the donated items. This is because of the diverse nature of the assets held and lack of comparable market values. These items are therefore not included on the statement of financial position.
However, values have been attributed to all items in the collection although in many cases this is a nominal value based on the cost or value of the materials used, or the estimated cost of, for example, making recordings. Where objects similar to collection items might be saleable on platforms such as eBay, that information may be used in making a valuation.
There have been very few heritage assets that have been purchased of material value. It is the
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
policy of the trust not to capitalise these assets. These are in effect inalienable, held in perpetuity, and are mostly irreplaceable.
Impairment of fixed assets
A review for indicators of impairment is carried out 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.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Menai Bridge Community Heritage Trust Limited is a company limited by guarantee and accordingly does not have share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.
Draft Accounts
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Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 3,090 | 3,090 | 3,023 | 3,023 | |
| Gifts | |||||
| Gift aid | 7 | 7 | 253 | 253 | |
| Grants | |||||
| Grants receivable | 2,859 | 2,859 | 4,486 | 4,486 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 5,956 | 5,956 | 7,762 | 7,762 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Exhibition income | 933 | 933 | 1,338 | 1,338 | |
| Shop income | 2,176 | 2,176 | 1,354 | 1,354 | |
| Hire of hall | 10,233 | 10,233 | 7,768 | 7,768 | |
| St George's Pier Gatehouse sublet | 3,000 | 3,000 | 2,500 | 2,500 | |
| Contribution towards children's book | 5,550 | 5,550 | 3,450 | 3,450 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 21,892 | 21,892 | 16,410 | 16,410 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 7. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Other income | 360 | 360 | 453 | 453 | |
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ||
| 8. | Costs of other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Shop costs | 937 | 937 | 21 | 21 | |
| Canolfon Thomas Telford costs | 6,242 | 6,242 | 6,270 | 6,270 | |
| Exhibition and event costs | – | – | 663 | 663 | |
| Children's book costs | 5,450 | 5,450 | 3,550 | 3,550 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 12,629 | 12,629 | 10,504 | 10,504 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
Draft Accounts
09:10 on 2 December 2024
- 14 -
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
9. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Support costs | 17,636 | 17,636 | 25,869 | 25,869 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 10. | Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 77 | 99 | |||
| ৶৶৶৶ | ৶৶৶৶ | ||||
| 11. | Independent examination fees | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial | statements | 1,518 | 1,300 | ||
| Other financial services | 807 | 588 | |||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||||
| 2,325 | 1,888 | ||||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
Wages and salaries
| 2024 | 2023 |
|---|---|
| £ | £ |
| 9,712 | 9,765 |
The average head count of employees during the year was 2 (2023: 2). The average number of full-time equivalent employees during the year was 0.5 (2023: 0.5).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
13. Trustee remuneration and expenses
No trustee received remuneration during the year. No trustee received reimbursement costs.
Draft Accounts
09:10 on 2 December 2024
- 15 -
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
14. Tangible fixed assets
| Land and | |||
|---|---|---|---|
| buildings | Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 April 2023 and 31 March 2024 | 292,118 | 24,314 | 316,432 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Depreciation | |||
| At 1 April 2023 | – | 23,918 | 23,918 |
| Charge for the year | – | 77 | 77 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| At 31 March 2024 | – | 23,995 | 23,995 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Carrying amount | |||
| At 31 March 2024 | 292,118 | 319 | 292,437 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| At 31 March 2023 | 292,118 | 396 | 292,514 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
15. Heritage assets
Heritage assets five year summary - assets not included in the statement of financial position
Apr 19 - Mar 20 Donations £459.00 Purchases £0 Total £459.00
Apr 20 - Mar 21 Donations £123.50 Purchases £0 Total £123.50
Apr 21 - Mar 22 Donations £489.00 Purchases £0 Total £489.00
Apr 22 - Mar 23 Donations £0 Purchases £0 Total £0
Apr 23 - Mar 24 Donations £0 Purchases £0 Total £0
Because of the diverse nature of the assets held and lack of comparable market values these items have therefore not been included in the statement of financial position.
However, values have been attributed to all items in the collection although in many cases this is a nominal value based on the cost or value of the materials used, or the estimated cost of, for example, making recordings. Where objects similar to collection items might be saleable on platforms such as eBay, that information may be used in making a valuation.
16. Debtors
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 4,023 | 3,772 |
| Other debtors | – | 342 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 4,023 | 4,114 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
Draft Accounts
09:10 on 2 December 2024
- 16 -
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
17. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 313 | 3,633 |
| Accruals and deferred income | 4,532 | 7,149 |
| Other creditors | 4 | 190 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 4,849 | 10,972 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Deferred income | ||
| 2024 | 2023 | |
| £ | £ | |
| At 1 April 2023 | 5,553 | 29 |
| Amount released to income | (8,409) | (7,936) |
| Amount deferred in year | 5,713 | 13,460 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| At 31 March 2024 | 2,857 | 5,553 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
18. Deferred income
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £32 (2023: £36).
20. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Recognised in creditors: | ||
| Deferred government grants due within one year | 2,857 ৶৶৶৶৶৶৶ |
3 ৶৶৶৶ |
21. Analysis of charitable funds
Unrestricted funds
| At | |||||
|---|---|---|---|---|---|
| At | 31 | March 202 | |||
| 1 | April 2023 | Income | Expenditure | 4 | |
| £ | £ | £ | £ | ||
| General funds | 16,105 | 28,208 | (30,265) | 14,048 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| At | |||||
| At | 31 | March 202 | |||
| 1 | April 2022 | Income | Expenditure | 3 | |
| £ | £ | £ | £ | ||
| General funds | 27,853 ৶৶৶৶৶৶৶৶ |
24,625 ৶৶৶৶৶৶৶৶ |
(36,373) ৶৶৶৶৶৶৶৶ |
16,105 ৶৶৶৶৶৶৶৶ |
Draft Accounts
09:10 on 2 December 2024
- 17 -
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
21. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 March 202 | ||||
| 1 | April 2023 | Income | Expenditure | 4 | |
| £ | £ | £ | £ | ||
| Restricted Fund | 286,176 | – | – | 286,176 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| At | |||||
| At | 31 March 202 | ||||
| 1 | April 2022 | Income | Expenditure | 3 | |
| £ | £ | £ | £ | ||
| Restricted Fund | 286,176 | – | – | 286,176 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
There has been no movement on restricted funds during the year ended 31 March 2024.
22. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 319 | 292,118 | 292,437 |
| Current assets | 12,636 | – | 12,636 |
| Creditors less than 1 year | (4,849) | – | (4,849) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net assets | 8,106 | 292,118 | 300,224 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 396 | 292,118 | 292,514 |
| Current assets | 20,739 | – | 20,739 |
| Creditors less than 1 year | (10,972) | – | (10,972) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net assets | 10,163 | 292,118 | 302,281 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
Draft Accounts
09:10 on 2 December 2024
- 18 -
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Management Information
Year ended 31 March 2024
The following pages do not form part of the financial statements.
Draft Accounts
09:10 on 2 December 2024
- 19 -
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 3,090 | 3,023 |
| Gift aid | 7 | 253 |
| Grants receivable | 2,859 | 4,486 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 5,956 | 7,762 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Other trading activities | ||
| Exhibition income | 933 | 1,338 |
| Shop income | 2,176 | 1,354 |
| Hire of hall | 10,233 | 7,768 |
| St George's Pier Gatehouse sublet | 3,000 | 2,500 |
| Contribution towards children's book | 5,550 | 3,450 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 21,892 | 16,410 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Other income | ||
| Other income | 360 | 453 |
| ৄৄৄৄ | ৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Total income | 28,208 | 24,625 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Expenditure | ||
| Costs of other trading activities | ||
| Opening stock | 3,854 | 3,875 |
| Purchases | 1,687 | – |
| Closing stock | 4,604 | 3,854 |
| Other office costs | 6,242 | 6,270 |
| Special event cost | 5,450 | 4,213 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 12,629 | 10,504 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Expenditure on charitable activities | ||
| Wages and salaries | 9,712 | 9,765 |
| Pension costs | 32 | 36 |
| Other establishment | 2,507 | 4,342 |
| Legal and professional fees | 3,463 | 10,694 |
| Depreciation | 74 | 99 |
| Other office costs | 700 | 933 |
| Prince's Pier contribution | 1,148 | – |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 17,636 | 25,869 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Total expenditure | 30,265 ৶৶৶৶৶৶৶৶ |
36,373 ৶৶৶৶৶৶৶৶ |
Draft Accounts
09:10 on 2 December 2024
- 20 -
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 March 2024
Net expenditure
2024 2023 £ £ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ (2,057) (11,748) ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Draft Accounts
09:10 on 2 December 2024
- 21 -
Menai Bridge Community Heritage Trust Limited
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Costs of other trading activities | ||
| Shop costs | ||
| Shop costs opening stock | 3,854 | 3,875 |
| Shop costs purchases | 1,687 | – |
| Shop costs closing stock | (4,604) | (3,854) |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 937 | 21 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Canolfon Thomas Telford costs | ||
| Canolfan Thomas Telford costs | 6,242 | 6,270 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| Exhibition and event costs | ||
| Exhibition and event costs | – | 663 |
| ৄৄৄৄ | ৄৄৄৄ | |
| Children's book costs | ||
| Children's book costs | 5,450 | 3,550 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Costs of other trading activities | 12,629 | 10,504 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| Expenditure on charitable activities | ||
| Governance costs | ||
| Wages and salaries | 9,712 | 9,765 |
| Employer pension | 32 | 36 |
| Other establishment costs | 2,507 | 4,342 |
| Accountancy fees | 2,325 | 1,888 |
| Professional fees | 1,138 | 8,806 |
| Depreciation | 74 | 99 |
| Other office costs | 700 | 933 |
| Prince's Pier contribution | 1,148 | – |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 17,636 | 25,869 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Expenditure on charitable activities | 17,636 ৶৶৶৶৶৶৶৶ |
25,869 ৶৶৶৶৶৶৶৶ |
Draft Accounts
09:10 on 2 December 2024
- 22 -