YMDDIRIEDOLAETH ADDOLDAI CYMRU WELSH RELIGIOUS BUILDINGS TRUST (A company limited by guarantee) Company Number: 3870343 Registered Charity Number: 1084030 Report and Financial Statements, including Unaudited Accounts st Year Ending 31 March 2024
Contents Page Chalrfs and Treasurerfs Foreword Reference and Administrative Infonnation Trustees. Report &11 Independent Examinerfs Report 12 Statement of Flnancial Aclivities 13 Balance Sheet 14 Notes 1&21
Chair's Foreword Addoldai Cymru's core mission, of taking into care a selection of the most exceptional Nonconformlst chapels that have become redundant, grows Increaslngly vital due to the growing number of chapel closures. The Trust acquired The Pales Meeting House, Llandegley during this financlal year and are delightsd to have such an iconic historical site in our care. Negotiations continued for tha acquisition of Capel John Hughes, Pontrobert and Capel Salem. Cefncymerau. We are very mindful that our expandlng portfollo of hlghly valued bulldlngs wlll requlre Increased flnanclal resources to maintain, manage and promote, and that must be a priorty for us. On behalf of fellow trustses, I would Ilke to express our gratltude to our stsff for thelr work, a8 well as to our contractors. archttects and volunteers for thelr contribution towards protecting a small but slgnlficant part of Wales, Nonconfomii8t herltage. Gorallt D. Nash Acting Chair
Reference and Administrative Inforniation Dlrectors and trustees 2023-24 The directors of the charitsble company (the charity) are Its trustees for the purpose of charity law. Robert Scourfield - Chair Gerallt D. Nash - Vice Chair Neil Sumner-Treasurer Sue Cole (Resigned February 2024) Elaine Davey Jonathan Jones D. Huw Owen Key management personnel: Trust Manager Administrative Officer Christine Moore Tanya Jenkins Reglstered Office Capel Salem. Stryd PictonlPicton Street, Nantyfyllon, Maesteg, CF34 OHH Charity reglstratlon number 1084030 Company registration number 3870343 Accountants W J Matthews & Son, 11-15 Y Bont Brldd, Caemarfon, Gwynedd LL55 1AB. Bankers HSBC, 24 Y Maes, Caernarfon, Gwynedd, LL55 2NB.
Ymddlrfedolaeth Addoldal Cymru Welsh Religious Buildings Trust Trustees. Report for the porfod 1 Aprfl 2023 to 31 March 2024 The Trustees are pleased to present their annual Dlrectors, report together with the financial statements of the charity for the year erKling 31 March 2024, which are also intended to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011. the Companies Act 2006. the Memorandum and Artides of Association. and Accounting and Reporting by Charities: ststement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102). Structure Governance and Management The Trust is a charitable company limfted by guarantee and was set up on 2 November 1999. It is govemed by a Memorandum and Articles of Association. which was last amended on 18 December 2006. The Memorandum and Artides of Association provides for a minimum of 3 and a maxlmum of 11 Trustees. The Trust currenty has 6 Tntstees. When a requirement for new Trustees has arisen, these have been identified and appointed by the remaining Trustees. Amongst the Trustees, there is a significant amount of experience wtth regard to building conservation and construction, property managemen( education. and history, as well as those who are aclively involved within various denominations in Wales. In the event of a parti([ar area of expertise or knowledge being lost due to retirements, or that the Tt feels needs to be strengthened, individuals are approached and invited to become Trustees. The Trust regularfy reviews its Board membership and. rf necessary, will seek to recruit additional Trustees. Potentlal Trustees wlll have already been made familiar with the practical work of the charty, having been invited to attend Trustees, meetings prior to a fonnal invitation to become Trustees. The Trust Manager also provides copies of the Trusfs Memorandum and Artides of Association as well as other relevant dOGu[T and additional material, so that they can familiarise themselves with the Trust and the context within which it operates. The Chair and the Trust Manager will meet irKlividual Trustees for further explanation of roles and of the sector rf required. Govemanca and intemal control The Directors of the company are also charity Trustees for the purposes of charty law and under the companys Artides are known as members of the Board of Trustees. Under the requirements of the mn0randUrn and Articles ofAssoGiation, the members of the Board of Trustees are elected to serve for a period of three years after which they must be re4lected at the next Annual General Meeting. The Board of Trustees comprised 7 trustses from April 2023 and 6 trustees from February 2024 until the end of the period covered by this reporL The Board of Trustees met the times in 202>24, on 5 April 2023, 19 Juty 2023 and 1 February 2024. Board Meetings were held at the Trusfs office at Salem, wlth some Trustees being present in person, arKI others being present online. The Trust is equipped with a high standard of audiNisual equipment at its Salem office to effectively facilitate such blended meetings. The Trust agreed with Cadw, as main funder and sponsor, a set of Airns and Targets for the year.
Ymddirledolaeth Addoldal Cymru Welsh Religious Bulldlngs Trust Trustees, Report for the perlod 1 Aprll 2023 to 31 March 2024 (contlnued) Directing and controlling the Trust is the responslbility of the Board of Trustees (the Trusfs directors). They, and the Trust Manager, run and operate the Trust on a day-to4ay basis. All Truslees give of their time voluntarily and no Trustees received remuneration during the year. Details of Trustees, expenses and related party transactions are appended In a note to the accounts. Pay pollcy ft>r staff The pay of the staff Is revlewed annually and In 2023-24 was Increased in accordance wtth natlonally agreed local authority pay scale8. Rlsk Management Trustees have prepared a Rlsk Register. They are satlsfied that th8 major rfsks to whlch the charlty18 exposed have been reviewed and that systems have been estsbllshed to mltlgate those rlsks. The Tru8tee8 are aware of the substantlal Ilabllities that they lace. Volunteorn Local volunteer Input Is a key part of project development and supporters, group8 ar8 encouraged In relatlon to each bulldlng acqulred. The Trusf8 Facebook groups for each of the chapa18 contlnue to be an effeth8 way of engaglng wlth communities and sharlng Informatlon. The volunteerlng Input of the Trustee8 continues to be substsntlal. In addttion, Davld Glennerster, who wa8 the Trusvs Treasurer belween 1999 and 2013, currently 8UPPOrts the Trust a8 a volunteer, by provlding financlal advice to our staff and by attendlng 8oard meeting8. staff During the year Christine Moore has continued in her role of Trust Manager and Tanya Jenkins has contlnued in her role of Admlnlstrative Officer. The blended working from homelworking at the office approach which was established at the end of the Covid 19 Pandemic, continued In 202>2024. Objectives and Alms The Trust is a body whlch has been establlshed for charltable purposes only, and the Trustees belleve that the description that best fits the Trusfs purposes in section 2(2) of Part 1 of the Charltles Act 2006 is paragraph (0 Ihe advancement of the arts, culture, heritage or science.. The Act further specifies that it must also be for publlc benefft If It Is to fulfil its charltable purpose. The Trustees have consldered the Charity Commission's guidance on publlc benefft, includlng the document 'Public Benefit: Runnlng a Charity, (PB2) when reviewing the Trusys aims and objectives and in plannlng its activities. In normal clrcumstances all of the Trusvs chapels are available for the public to visit whenever there is no ongoing building work, and any member of the public can contact the Trusfs office for the contad details of the relevant keyholders. In 2023 - 2024, the Trust purchased keysafes for Installation at a number of its chapels to facilitate public access and hopes to continue with this policy in the future.
Ymddlrfedolaeth Addoldai Cymru Welsh Religious Buildlngs Trust Trustees, Report for the period 1 April 2023 to 31 March 2024 (continued) The Trust has been set up to address some of the serious problems fracing Wales, rich inheritance of religious buildings. The charitys objectives as fonnally set out in the company's Memorandum of Association are: "The promotion and adVanrnent of the religious and associated heritage of Wales, or that which is associated with Wales, for the benefft and education of the people of Wales and the public generalty, and in particular but without limitation to the generalty of the foregoing: to secure the conservation. repair and maintenance of tha15, churches, meeting houses or other religious buildings and their associated buildings and environments sltuated in Wales. other than those consecrated to the use of the Church in Wales, together wfth thelr contents, burial grounds and curtllages, where the bulldings are of religious interesL or of particular beauty or historical, architectural or constructional interest; to promote and encourage the preservation and appreciation of chapels, churches. meeting houses or other religious buildings, other than those consecrated to the use of the chUh in Wales, together with their associated buildings, environments, contsnts, burial grounds and curtilages where such buiklings are of religious interest or of particular beauty or historical, architedural or constructional intere< primarily situated in Wales. or that are associated with Wales, whether the buildings are being used for their original purpose or no( and to advise on their conservation." The Trust aims to promote and advan the religious heritage of Wales by: acquiring, as an owner of last resor( a limited number of redundant religious buildings of signfficance and ensuring their conservation to the highest standards providing advice and information to those owning or responsible for chapels and other historic religious buildings, and to other interested parties. The Trusfs remit covers bulldings of all denominations and faiths, except for the Church in Wales, which has its own scheme in Pla with The Friends of Friendless Churches and Cadw. Review of activities and future developments A summary of the work of the Trust In 2023r24 Is set out below. Impact of COVID-19 on the Trust The year 2023-24 saw the expenditure of the ffinal sums from the three Covid Relief Fund grants. The grants. which totalled £220.550. enabled the Trust to und*ke urgent maintenance work on all but one of its buildings.
Ymddiriedolaeth Addoldai Cymru Welsh Rellglous Buildings Trust Trustees. Report for the perlod 1 Aprll 2023 to 31 March 2024 (contlnued) Bulldings for Acqulsition Following the completion of its dlscussion with the Soclety of Frlends, the Trust acqulred the historic Pales Meeting House and Cottage at Llandegley, Powys in Juty 2023. The Trust's intention is to seek funding to renovate the cottage, which can then be let on caretaking basis. In addition to a historic burial ground, the Pales also includes a small camp slte, whlch, It is hoped, can contlnue to be let on a commerclal basls generatlng a small amount of revenue for The Trust. Dlscusslons are also ongolng wlth Trustees of the John Hughes Memorlal Chapel, Pontrobert, Powys regarding the acqulsitlon of the chapel and Its related bulldings. Slmilar discusslons are continulng wlth chapel representatlv88 and the Baptlst Unlon of Wales regarding Salem Chapel, Cefncymerau, Gwynedd. Other acquisltlons were consldered durlng thls perlod, namely Capel Mawr, Denbigh and Zlon (Baptlst) Chapel, Newtown. For varlety of reasons, neither were acqulred. The Trust was also approached durlng thls year by representatlves from Salem Chapel, Fforddlas in Conwy. Followlng a slte vlsit, It wa8 declded to defer a declslon on acqulsltlon until the chapel had fomially decided to close. The Trust contlnues to remaln Informed about redundant rellglous buildlngs Potentlally suttable for acqulsition and conservatlon, however, due to th8 accelerating rate of redundancy, and the nature, number and age profile of congregatlons carlng for bulldlngs, thls will mean that an Increaslng number of Iconlc bulldlngs In the Welsh rellglou8 bulldlngs envlronment will become redundant In the short to medlum term. The Trusf s remit Is to conserve examples of redundant non-church In Wales places of worshlp of exceptional architectural andlor hlstoric interest. Freehold ownershlp and management of even a Small number of bulldlngs is burdensome and a Ilabllty for trustees, and acqulsltlon of new buildings tovdate continues to be a reactlve process but guided by the productlon of our "Signfficant Chapels. list. Uslng rlgorous crlterla, trustees have Identlfied those buildings whlch they conslder to be of exceptlonal archltectural andlor historic interest. The Trust has acqulred bulldlngs at less than market value, under Its ststus as a prescrlbed charlty under the Redundant Churches and Other Religious BuildingsAct 1969, (as amended In Schedule 5 of the Charitles Act 1992). Whenever a declslon is made to proceed wlth transfer on such tsrms, the Trust Is very grateful to the respective dlsposing Trustees for their CO*operation. As the Trust becomes aware of posslble candidate buildings, they are scrutinised by the Bulldlngs Sub-committee and considered alongside the principles of the Trusfs recently developed Acquisition Pro Fomia. Where potsntially suitable, visits are arranged to Inspect the buildings and athiice is sought from the Trusfs Archlteclural Advlsers, who are three of the current Trustees. Once acqulred, buildings are to be repaired, conseTV8d and managed by the Trust and wherever possible made avallable for community use. Buildings that have been acquired by the Trust are generally in poor condition, requiring maintenance and emergency repairs to prevent further deterloration. In recent years, there has been a greater emphasis placed on increasing the communlty engagement aspect at each building, developing the long-term future of buildings acquired in conjunction with the local community.
Ymddlrledolaeth Addoldai Cymru Welsh Rellglous Buildings Trust Trustees, Report for the perlod 1 Aprfl 2023 to 31 March 2024 (contlnued) This aspect of the T5 work continued to develop in 2023. The Trust vrds represented at the National Eisteddfod in Boduan In 2023, and is grateful to the Royal Commission on the Ancient and Historical Monuments of Wales for hosting a table and a small display about the Trusfs work The annual lecture In conjunction Capel wa8 delivered this year by Trust staff member, Dr Tanya Jenkins. Following on from the Trusys successful Communty Engagement event In March 2023, the Trust held a very welkattended co*umed Sunday Service at tha end of August at Caebach. Llandrindod, as part of the town's annual WictOTian Festival. The Intentlon Is for thls to now become an integral part of th8 Festival tlmetable. Penlel hosted a HaN8St SeNice of ThanksgNing and a number of funerals during the year. Plans to hold further events at the chapel for Christmas unfortunatety had to be postponed, due to a floodlng Incklent at the chapel In eaty December. Other Chrlstma8 Events held In 2023 Induded a Wlnter Wonderland Show at Belll Du and a Christmas Carol Service at Caebach. Hen Dg Cwrdd hosted an event to ralse fvnds for the Rhondda Cynon Taf Elsteddfod to be held at Pontyprldd In 2024. agaln In December. Thls event included muslcians from Cefn Cribwr and Uantrlsant local folk groups and a surprfse visit from the Mari Lwyd. The Mari Lwyd appeared again at a Hen Galan (Old New Year) event at The Pales- agaln accompanied by local folk musicians. All these events were very welkattended arKI the Trustees are grateful to the volunteers who assisted with the arrangements. Actlvo Projects Hen DP Cwrdd (Unitarian). Trecynon. Aberdare. Rhondda Cynon Taf (Grade11) The year 2023 - 2024 saw the complellon of the work to the front elevatlon of the chapel. The 20th century hard cement render, whlch had caused issues with dry rot as a result of molsture Ingress, was removed and the front elevatlon restored to a pre-1910 design, based on surviving photographic evidence. The architect was Alwyn H Jones Penseirf Ltd. and the contractor was David A Siggery Ltd. In late 2023, the Trust was delighted to report that it had been awarded a grant of £248.343 by the National Lottery Heritsge Fund. The grant Is to be spllt Into Iwo parts, the first for project work relating to the chapel and ts significant contrlbutlon to the Eisteddfod tradltion In Wales to colncide wlth Rhondda Cynon Tars hosting of the National Eisteddfod in August 2024, and capital works to include the provlsion of a kitchenette and WC to enable the building to be utilised more widety by the local communlty. Both parts of the proied are scheduled to commence in late Spring 2024. Penlel (Presbyterian Church of Wales), Tremadog, Gwynedd (Grade l) The chapel was flooded in early December 2023 when a higlFlevel watertank burst. Although significant water damage was sustained, the Incldent was fortuitously discovered at an earfy stage, ensuring that no major structural damage occurred. The Original Roofing Company were continuing their restoration work at Peniel as part of the remaining CRF-funded work3 - and the additlonal costs were able to be absorbed by the ongoing restoration.
Ymddlrledolaeth Addoldai Cymru Welsh Rellgious Buildings Trust Trustees, Report for the parlod 1 April 2023 to 31 March 2024 (conllnued) Salem (Welsh Baptist), Nantyfyllon, Maesteg. (Grade Il") Local contractors carried out small general maintenance works at Salem In 2023 - 2024, Including cleaning and the dearing of overgrovth in the chapel grounds. Role as advlsory b¢)dy The Twsfs remtt also indudes, becoming an advisory body and a source of Infomiation to those owning or responsible for historic religious buildings In Waks. Although resources are scarce, staff have continued to provide some infomiation to those requesting help on fundlng Issues, with enqulrles having been received via emall arml the Trusfs websrte. The Trust 8UPPOrts the promotion and advancement of the religious and asso¢iat8d heritage of Wales, or that which is associated with Wales, for the benefft and education of the people of Wales and the public generally. 202>24 saw an increasing number of people approach the Trust digitally wlth enquiries relating to a range of historical and cultural topics, and those who wished to trace their family genealogies. Web31ts The Tfusfs blllngual webslte contlnues to be an Important part of Its communlcatlon wlth supporters and local communities. In 2023-24 It attracted 11,000 user sessions and 36,000 pagevlews. The website is managed by Orangeleaf Systems Ltd, digital heritage consultants. The Trusys maln Facebook page and Its Tknr account both have over 1.300 followers; the Board Is gratefvl to Dr Mellyr Powel for his engaging output whlch has boosted the Trusfs profile on both platfomis. The Trust atso has Facebook sub-groups for each of the chapels in its care, where local people are able to engage with trust representstives regarding trust events etc. Friends of the Trust The Trust has a natlonal Friends group. mwnbershlp of which stands at 86 (as of 31 March 2024). Llnks wlth other organlsatlons The Trust has malntained its links with several Ilke-minded OTganisatlons - the Friends of Friendless Churches, the Scottish Redundant Churches Trust and the Churches Conservation Trust- as well as with religious and other institutions In Wales and further afield. The Trust also has links wlth the Historic Rellglous Buildings Alliance and the National Churches TrusL The Trust has a good working relationshlp wlth Capel: the Chapels Heritage Society in Wales, and is gratsful for the role played by trustee D. Huw Owen. The Trust has an active working relationshlp with the Royal Commission on the Ancient and Historical Monuments of Wales, particularty in regard to the TnrS website and ongoing work in identifylng Wales, most significant chapels. The Trust is a member of the BrKlgend AssoGiation of Voluntary Organlsations (BAVO), the Heritage Trust Network and the Women's Archive.
Ymddiriedolaeth Addoldai Cymru Welsh Religlous Bulldlngs Trust Trustees, Report for the period 1 April 2023 to 31 March 2024 (continued) The Trust Is a member of Future for Religious Heritage, the European network for historic places of worship which aims to brirvJ together those who work to protect religious heritage across Europe. Staff or trustees have represented the Trust at virtual meetings of the Historic Places of Worship in Wales Forum and the Wdles Herftage Group. The Trust continues to respond to various government consultats'ons. Flnanclal Revlew The Trust has confjnued to develop ts actswbes and to buikl upon what tt has achieved to date. Fundlng Current fundlng arrangements wlth Cathy a on an annualty renewable basls, and the Trust has recelved cortrfunding from Cadw for the administration and development of the Trust durlng the year. The Trust, however, continues to operate wlth Insufflclent resources to develop Its projects In the most effective way, and to make the most efficient use of funds already granted. Cadw has also contlnued to contribute towards project overheads. in particular, fundlng the Insurance premlums and utlllty bllls at each bullding, until income stream8 been have Identlfied to enable them to become financially sustainable. The Trust received £500 during this year from what was probabty the most unusual means of Income generatlon to date, namely for the use of Camel Chapel to record a music album. The musician in question wanted a location that was totally devold of the sound of passlng traffic- and Carniel provlded the Ideal location. The Trust is also grateful to Its Frfends and wlvate donors generally and thelr generosity to the Trust, and whose contributions are augmented by the Gfft Aid daimed in respect of thelr donatlon8. The Trust received several notewtythy donations from IrKlivlduals during the years, notably £300 from Nell Sumner. £200 from Tom Lloyd and £100 from both David Glennerster and Roger Burrow. Contributions totslliig £439 were also received from people who had held family funerals at Peniel. The Trust held an appeal for The Pales over Christmas 2023, which raised over £2,000. The Trust was grateful for the generous contributions received, in particular those of John Cherry and Jill Willey. The Trust greaty appreciates all donations receNed. Current funds are stlll Insufftclent for all the Trusfs requirements. Its aGtivities therefore continue to be concentrated on the conseNation and management of fts buildings, rather than on any substantial advisory worK although the Trusfs website is a means of being able to provlde 8UPPOrt more widdy to those who seek IL
Ymddiriedolaeth Addoldal Cymru Welsh Rellgious Buildings Trust Trustees, Report for the period 1 Aprll 2023 to 31 March 2024 (continued Reserves pollcy As an organisation mainly funded by grants for work in hand. the Trust has not been able to build up reserves of any significance to date. The Trustees would like to be in Ihe position of being able to buikl up a modest amount as a reserve for UnfOren evalitIes. Future Plans The Board of Trustees monitors both the Trusfs day-to-day activities and its development plans on a regular basis in order to make the best use of its limited resources. The work of the Trust is based around four main areas of acbvity: Acquisition, Conservation, Participation & Interpretation. The Trustees prioritlse acbvrties accorrfing to need, and In line with the resources available. In doing so, the Trust will continue its work of seeking to Conserve an important etement of the history and tharac*er of Wales. Trustees. responsibilities in rolatlon to the financial statements Company and charitable law require the Trustees to prepare financial statements for each financial year which gNe a true and fair view of the stste of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing thos8 finandal statements. the Trustees have: selected suttable accounling policEs and then applied them consistenty made judgements and estimates that are reasonable and prudent stated whether applicable accounting standards have been folloEd prepared the financial statements on the going conGem basis. The Trustees have overall responsibilty for ensuring thatthe charity has appropriate systems of controls, ffinancial and otherwise. They are also responsible for keeping proper accounting records whith disclose with r&asonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements compty with the Companies Act 2006. They are also responsi for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and deteclion of fraud and other irregularities and to provide reasonable assurance that the charity is operating efficienty and effectively its assets are safeguarded against unauthorised use or disposition proper records are maintained and financial infomiation used within the charty or for publication is reliable the charity complies with relevant laws and regulations. The systems of intemal control are d&8igned to provide reasonable. but not absolute, assurance against material mis•Statement or loss. They indude: An annual budget approved by Trustees regular Consideration by the Trustees of financial results and varlanc8 from budgats delegation of authority Identlfication and management of risks. p.10
Ymddiriedolaoth Addoldai Cymru Welsh Religious Buildings Trust Trustsos, Report ft>r the perlod 1 April 2023 to 31 March 2024 (continued) Accountants The Trust is not required to have its accounts audited. An independent examiner's port has been prepared as the Trust's gross income is between £25,000 and £1 ,000,000 and the Trust's total assets (before liabilities) do not exceed £3.26m. No auditors have therefore been appointed. A resolution that WJ Matthews and Son will be re-appointed as independent examiners was passed at the Annual General Meeting held on 5 April 2023. // 2 02 5 This reportwas approved bythe Board ofTrustees on....................................... and signed on its behalf by: Gerallt Nash (Acting Chair) p.11
Independent axaminerfs report to the Trustses of Ymddiriedolaoth Addoldai Cymru Welsh Religious Buildings Trust I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2024 set out on pages 13 to 21. Responsibilltles and basis of report As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act ('th8 2006 Acr). Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (the '2011 Act.). In carrying out my examination I have follovRd the Directions given by the Charity Commisslon under section 145 {5)(b) of the 2011 Act. Independent examlnerfs report I have completed my examinats'on. I confirm that no matters have come to my attention In connection with the examination giving me cause to believe: acwunting records were not kept in respect of the company as required by section 386 of the 2006 ACL or the accounts do not accord with those accounting records; or the accounts do not comply with the accounting requirements of sectlon 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 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters In connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Mr David Chidley W. J. Matthews & Son Chartered Accountants ICAEW 11-15 Bridge street Caernarfon LL65 1AB Dated: 2Trfo& /k)* p.12
Ymddiriedolaeth Addoldai Cyrnru Welsh Religious Bulldlngs Trust Statement of Flnancial Activities Ilncorporating an Income and Expenditure Account) for the year ended 31 March 2024 Unrestrlcted Restricted Funds Funds Total 2024 Tatsl 2023 Notes Inoome Donations and grants 83,031 5,030 88,061 95,277 Income from charftable activities." Donations and grants 28,567 26,567 56,264 Other Income 1,182 1,182 3,445 Total Income 84,213 31,597 115,810 154,986 Expendlturn.. Charitable Activties 723,764 9,831 733,595 163,990 rotal Expendlture 723,784 9,831 733,595 183,990 Net Income I lexpendlture) (639,551) 21,786 (617,785) (9,004) Transfers between funds 1,249,858 (1,249,858) Fund 8alan¢•s at 1 Aprll 2023 95,381 1,256,511 1,351,892 1,360,896 Fund Balana•s at 31 Marah 2024 705.688 28.419 734.107 1.351,892 The rteS on page8 15 to 21 form part of th&8e accounts. p.13
Ymddlrledolaeth Addoldai Cymru Welsh Rellglous Buildings Tnt (Company number 3870343) Balance Sheet at 31 March 2024 2024 2023 FIXED A88ET8 Heritage Assets 699,256 1.276.104 CURREKf AS8ET8 Debtors and Prepayments Cash at Bank 10 9.684 27.880 51.375 27.507 37,564 78,882 CREDITORS: Arnounts falling due within one year (2,713) <3,094) Net Current Ass•ts 34.851 75.788 NET A88ET8 734,107 1,351,892 FUNDS Unrestricted Funds Restricted Funds 12 12 705,688 95.381 28,419 1,256,511 734.107 1,351,892 In the directors, oplnlon tt)e company was entitled under secJon 477(1) of the Companles Act 2008 to exemption from the audit of its accounts for the year ended 31 March 2024. No member of the company has deposited a notlce under Section 476 requiring an 8udlt of these accounts. The directors are responsibk8 for ensuring that the company keeps proper accounUng records which comply with Section 386 of the Companies Act 2006 and for preparing accounts whlch glve a true and fair view of the state of affairs of the company as at the end of each financial year and of Its profit or loss for each year in accordance with the requirements of Section 394 and Sectlon 395 of the Companles Act 2008, and whtch otherwise comply with the requirements of that Act relatlng to accounts, so far as applicable to the company. The accounts are prepared In accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). Gerallt Nash (Acting Chair) Date: 25 202 5 The notes on pages 15 k) 21 fomi part of these accounts. p.14
Ymddlrledolaeth Addoldal Cymru Welsh Religlous Buildings Trust
Notes to the Accounts for the year ended 31 ma 2024
Accountlng Pollcies
The principal accounting policies adopted. judgements and key sources of estimation
uncertainty in the preparatlon of the financial statements are as follchvs:
8asls of preparntion
The financial stst8ments have beèn prepared in accordan( with Accounting and Reporting
by Charities: Ststement of Recommended Practice applicab to charities preparing their
accounts in accordan with the Financial Reporting Standard applicable in the UK and
Republlc of Ireland (FRS102) 4harities SORP (FRS102)), the Financial Rq)orting Standard
applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.
Ymddlrledolaeth Addoklai Cymru Welsh RelvJious Buildings Twst meets the definition of a
public benefrt entity under FRS102. Assets and liabilities are inittalty recognised at historic cost
or transaction value unless otherwise stsed in the relevant accounting policy note.
Preparation of the accounts on a golng concern basls
The trustees consider that there are no significanl uncertainties in respect of the charitable
¢ompany'8 abilty to continue a8 a going concern.
Income recognltlon poll¢l
Incoming resources are includ•d In the statement of financial actMlie6 when the charlty is
antitled to the income, any perfonnance conditions attached to the items of Income hav6 be8n
met or are fully within the control of the charity, there is sufficient certainty that receipt of the
Income is considered probable and the income can be measured reliably. Income is deferred
If the perf0mnCe related conditions have not been met or rf the income is earmarf<ed for
futurn period8.
Grants, where entitleThnt 18 nol conditional on the delivery of a specific perf0mnCe by the
charty. are recognised when the charity becomes unconditionally entitted to the grant. Income
is deferred where the conditions for entitlement to the income have not been met or where the
Income has been given specfficalty for a future Perd.
Incomlng resources from grants, where related to performance and speclfic dellverables, aro
accounted for as the charity eams the right to consideration by its perfomiance.
Fund accountlng
Unrestricted funds are available ts use by the trustees to promote the general object8 of the
charty at the discretion of the trustees. Restricted funds are funds that can only be used for
particular restricted purpose8 within the objects of the charity. Restrictions arise when specified
by the donor or when funds are raised for a particular trIcted purpose.
Expendlturg
Expenditure is recognised once there alggal or
Ymddlrledolaeth Addoldal Cymru Welsh Religious Buildings Trust Notes to the accounts for the year ended 31 March 2024 Accountlng PoliGles Support costs Support costs are those functions that assist the work of the charty but do not directly undertake charitable activities. Support costs include costs of admlnlstratlon, finance, personnel, payroll and govemance costs whlch supports the tharitable programmes. Capltal Expendlture Capital assets wlth a cost which exceeds £1.000 are capltali6ed In the aunts. Herltage assets are shown at cost. DeprecIatI Is provided on fixed assets at the following rates: Office equipment over 4 year8 on a stralght-llne b8318 Depreciatlon Is not provided on fréehold propertles as it Is the policy of the trust to maintaln them to a high standard so that their residual value is not less than their cost. Herltsge Assets The aGquisition c08t and ren¢Mtion c08t of chape18 are stated at Cost le88 any impaimient. Penslon costs The cost of providlng penslon and related benefits is charged to the SOFA over the employee's servlce Ilves. The charlty makes defined contribution pension payment8. Debtorn Trade and other debtors are recognlsed at Ihe settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepald after taklng account of any trade discounts due. Cash at bank and In hand Cash at bank and cash In hand Includes cash and short tem hlghly Ilquid investments with a short maturity of three month8 or les8 from the date of ar*qUiSition or openlng of the deposlt or simllar account. Credltors and provl8lon8 Creditors and provisions are recognlsed where the charity has a present obllgatlon resuming from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provistons are nomially recogni3ed at thelr settlement amount after allowlng for any trade discounts. Flnanclal Instruments The charity only has financlal assets and financlal Ilabillties of a kind that qualfy as a baslc financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently Measured at their settlement value. Legal status of the Charlty The company is limlted by guarantee registered in Wales. If upon the winding up of the company, th remalns after the satisfaction of all debts and liabilities, any propety whatsoever the same shall not be paid to or distributed among the members of the company, but shall be given to some other charitable institution having similar objects to the company. As members will not receive any surplus from the company, a Reconclliatton of Members, Funds is not required. p.16
Ymddlrledolaeth Addoldai Cymru Welsh Rellglous Bulldlngs Trust Notes to the accounts for the year ended 31 March 2024 Unrestrlcted Restrlcted Funds Funds Totsl 2024 Total 2023 Income from donatlons and grdnts Cadw Revenue Grant Donations RCAHMW grant Llnited Refonned Church Grant 77,322 5,709 77.322 6.795 1.000 2,944 2.944 80,924 13,353 1,000 83,031 5,030 88,061 95,277 Income from charltsble actlvltlos Donatlons and grants Unrestrlcted Rtrict•d Funds Funds Totsl 2024 Total 2023 Cadw Capital Grants Listed Places of Worshlp VAT Grant Scheme Funds transfer from South Marchers Area Quakers Meeling 36.834 19,430 9,414 17.153 9,414 17,153 26,567 26,567 56.264 Analysls of •xpondltur• on charltable actlvltles Con8eNatlon Projects Total 2024 Total 2023 Wages Working from home costs Travel and Subsistence Reltgious buildings malntenance Insurance Impaimient of heritage assets G0Veman costs Support costs 49,812 49,812 44,797 180 1.714 86.240 12,938 2.462 69,882 15,267 576,661 2,405 17.106 2.462 69,882 15,267 576,661 2,405 17.106 1,804 16.317 733,595 733,59S 163,990 Expenditure on charitable actlvftles In the year Was £733.595 (2023 - £163.990). Of this expendituw £723.764 {2023 - £142,989) was unrestricted and £9,831 (2023 - £21,001) was restricted. p.17
Ymddiriedolaeth Addoldal Cymru Welsh Religious Bulldlngs Trust Notes to the accounts for the year endad 31 March 2024 Analysls of governance and support costs Inftialty. the charitable Company #lentifies Ihe costs of its support functions. 11 then identifws those costs which relate to the govemance function GenerdlGovernance Support function Totsl 2024 Total 2023 Heat. Light and Utilit Rates Committee Meetlngs and AGM Printing. Postsge and Stationery 355 Advertising 5.058 Telephono 732 Repairs, Renal$ & C¢)mputer Costs 772 Subscriptlons 190 Accountsncy Legal and professional Companies Hou88 fee Bank charges General expen8e8 Depreclatlon of office equipment 7,819 158 7.819 158 1,107 355 5,058 732 772 190 1,298 723 163 7.113 1.107 471 753 5.806 587 200 1,333 1.298 723 163 13 114 143 621 305 765 305 765 17.106 2.405 19,511 18,121 Anaty818 of staff costs. truste• romuneratlon and exp•nses, and th• cost of key management por8onno1 2024 2023 staff salaries Perksion Payments 45,283 4,529 40,725 4,072 £49,812 £44,797 Two indivmauals were employed in the year {2023- 2). £1,110 of pension liabilities existed at the year-end (2023 - £347). No empk)yee had empbyee beneffts in excess of £60,000 a year (2023- £60,000). The key managent personnel of the charity comprise the Trustees and management team. The total employee beneffts of the key managemenl personnel of the dwrity were £49,812 (2023 - £44.797). No trustees received any remuneratKm during the year (2023 - Nil). No chadty trustee received payment for professional or other services supplied to the charity (2023 - £Nil). Out of pocket expenses were reimbursed to trustees as follcws 2024 Number 2024 2023 Number 2023 Committee Meetings and AGM £1,533 £610 p.18
Ymddlrledolaeth Addoldai Cymru Welsh Religious Buildings Trust Notes to the accounts for the year ended 31 March 2024 Corporatlon Tax Ymddifiedolaeth Addoidai Cymru Welsh Religious Buitdings Trust being a registered charity is exempt from Corporation Ta Tangible Fixed Assets Hwitage Offlce Builth"ngs Equipment At 1 April 2023 Additions 1.275.161 5.273 579 At 31 March 2024 1.275.161 5,852 DepcIatiOn At 1 April 2023 Charge for the year Impaim*nt 4.331 765 576.661 At 31 March 2024 576.661 5,096 Net Bcok Value At 31 March 2024 698,500 756 At 31 March 2023 1.275,161 942 Summary anatysis of heritsge asset transactlon 2024 2023 2021 2020 Purchases Donations 36,167 153,993 2,880 66,015 Total Addit#)ns 36.167 153.993 66,015 Charge for Impalmnt Disposals Proceeds from disposals 576.661 During the yearthe trustees rerfsewed the carying amount of each heritage assets. comparing them with the average market value. The VIeW eondudad that he average ffArket vatue was less than ts carying affK)unt and therefore an inwairment of £576,661 has been recognised. 10. Debtors 2023 Grants due Prepayments 200 51.375 51,375 p.19
Ymddiriedolaeth Addoldai Cymru Welsh Rellgious Buildings Trust Notes to the Accounts for the year ended 31 March 2024 11. Creditors: Amounts falling due within one year 2024 2023 Accruals Deferred income 2,713 2.094 1,000 2,713 3,094 12. Statem•nt of Funds 1 Aprll 2023 IncomeExpendftureTransfers 31 March 2024 Core funds Restricted Funds.. Libanus Chapel Hen Dfr Cwrdd Beili Du Fund Bethania Chapel Yr Hen Gapel Peniel Chapel Ainon Camiel Salem Caebach The Pales RCAHMW grant 95.381 84.213 723.764 1,249,858 705,688 192,e67 199.543 184.232 265,147 197,629 184.647 (192,667) (206.688) (184,232) (265.147) {197,629) 362 (184,647) 2,270 120 (18.848) 7,145 362 2.270 120 18,848 13.798 3,119 17.581 1.000 4.281 1.798 1.000 12,636 15,783 1.351,892 115,810 733,595 734,107 1 Aprll 2022 IncomeExpendltureTransfern 31 March 2023 Core funds Restricted Funds." Libanus Chap Hen D9 Cwrdd Beili Du Fund Bethania Chapel Yr Hen Gapel Peniel Chapel Ainon Carniel Caebach RCAHMW grant 150.836 87,534 142,989 95,381 192,138 181,917 183,160 258,651 197.629 183.487 529 17,626 1,072 6,496 192,667 199,543 184,232 265.147 197,629 184,647 1.160 10.633 18,848 10,088 1.000 10,633 18.848 13,798 13,078 9.368 1,000 1.360.896 154.986 163.990 1,351,892 p.20
Ymddlriedolaeth Addoldai Cymru Welsh Religious Bulldlngs Trust Notes to the Accounts for the year ended 31 ma 2024 Fund balances at 31 March 2024 are represented by: Core Funds Project Fund Total Fixed Assets Current Assets Current Liabilities 699.256 9.146 (2.713) 699.256 37.564 (2.713) 28.418 705.689 28,418 734.107 Postyear end fundlng The Trust does not enter into contracts for repairs until all the necessary fijnding has been raised. Funds are eIr received prior to commencement of any rk, or, more usually. fomal funding offer letters or funding contracts are reived. with the adual funds to be drawn down periodically as work is campleted and invoices received. Such funding can spread over more than one year. and liabilities that arise during ¢Me year met by post year erKI receipt of funds. 13. Capltal Commftments At the year end, the charitable company had commftments under capital contracts amounting to £Nil (2023- £42,871). Prlor year fund breakdown Total 2023 Total 2022 Notes Funds Funds Income Donations and grants 84.089 11.188 95.277 297,735 Donations and grants 56,264 56.264 145.338 other incorne 3,445 1,397 Total Income £87,534 £67.452 £154,986 £444,470 Expendlture." Project Development Costs 142,989 21.001 163,990 189,420 Total Expenditure £142.989 £21,001 £163.990 £189.420 Net Income and net movement In funds for the year (55.455) 46,451 (9,004) 255.050 Fund Balances at 1 Aprfl 2022 150,836 1,210,C60 1,360.896 1,105,846 Fund Balances at 31 March 2023 £95.381 £1.256.511 £1.351.892 £1.360,896 p.21