REGISTERED COMPANY NiIMBER: 04191325 (England and Wales)
REGISTERED CHAiirrY NUMBER: 1092026
-'1'1- £ILkJ LLÉTJ
Report of the Trustees and
Unaudited Finanefial Statements
for the Year Ended 31 Mareh 2025
for
Cardigr4n Building Preservation Trust
Ashmole & Co
Manchester House
Grosvenor Hill
Cardigan
Ceredigion
SA43 IHY
Ashmole & Co.

Cardigan Building Preservation Trust
Contents of the Finaneial Statements
for the Year Ended 31 March 2025
Page
Report of the Trustees
Independent Examlner's Report
Statement of Financial Activities
Balance Sheet
Cash Flow Statement
Notes to th¢ Cash Flow Ststement
Notes to the Financial Statements
8 to 14
Detalled Stalement of Flnancial Activities
15
AshmolÈ & Co.

Cardfigan Bulldlng Preservation Trust
Report of the Trustees
for the Year Ended 31 March 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with
the financial statements of the charity for the year ended 31 March 2025. The In￿teeS have adopted the provisions of
Accounting and Reporting by Charitie5.' Statement of Recommended Prdctice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective l January 2019).
OBJECTIVES AND ACTIVITIES
Objectfives and alms
The objects of the Charity are the preservation of buildings of historical or architectural merit for the public benefit in the
Cardigan area.
L¥4TEREST IIY GuILD￿L
The Guildhall in Cardigan is listed by CADW (Grade 2•) and O￿llp1¢S a pmminent position in the Centre of the town.
Ceredigion Council granted the Trust a 99-yeaT lease over the Guildhall in July 2007. The cu￿ent annual rent is £4,000.
An underlease for a similar period was granted on 26 August 2009 to Menter Aberteifi Cff, The annual rent receivable
under this lease is £5,000 plus VAT. The Trust remains responsible for external work on the building and on the
courtyard.
USE OF GUILDHALL
tÈtting of the gallery and the three principal meeting rooms to Community gmups and otber bodies is undertaken by the
Trusts sub-lessee, Menter Aberteifi Cff., with whom the Trustees work closely.
CARDIGAN MARKET HALL
Cardigan Market Hall, built at the sanle time as the Guildhall and attached to it, is also a listed Grade 2* bui]ding. On 3
December 2020 the Ceredigion County Council granted the Tn￿t a 99-year lease over the Market Hall and the adjacent
public toilet block for a peppercom rent. Under the ternis of the lease the Council retains responsibility for the
maintenance of the Market Hall's external walls and some ]najor Aten￿ which the T￿￿t installed, namely the lift and the
main water and heating boiler.
The Market Hall bas not been in a good state of repair and since 2014 the Trnstees have been wOrkll￿ to restore and
rnodernise tbe building to modern standards and to raise the finance to do so. This work Was divided divided into two
phases. Phase I consisted of demolishing the loilet block and erecting the structure of an ac¢ess block on the site. Phase
2 as to Testore and modernise the Market Hall itself, including renewal of the roof, and to fit out the access blocK in
particular with a lift giving access from Greenfield Square car-park to both floors of the Market Hall and so to
Cardigan's n￿1n shopping street.
The building was handed back to the Tn￿t by its building ¢ontrnctor early in the financial year and shortly afterwards
became close to IOOO/o occupied by nwket sthll-holders. In January the building was fonnally reopened by Ja}￿e
Bryant, a senior Welsh Government Minister, in the presence of Ceredigion Councillors and officials together with
representstives of our various other funders, the Trust's professional team and market stall-holdeTS.
Since the end of the fmancial year, principally with the aid of a grant from the National Lottery Heritage Fun(L the Trust
has sought to bring home to people the building's history and that of Cardigan and its markets through the ages. Exhibits
include illustrated time-lines on the walls of both fl(K)rs, strategAcally pla¢ed high quality reproductions of old market
photographs, a detailed plan of the town in the Middle Ages, a display about the building's architect drawing attention to
other local buildings which he deS1￿¢d and lastly a bilingual audio facility.
For this initial settling-in period day to day management of the market has been in the hands of Menter Aberteifi on
behalf of the Tn￿L The total cost of the scheme is ultimately over £3m.
STIL4TEGIC REPORT
Finaneial position
The results for the year and the financial position of the Trnst are presented in the financial statements.
Going concern
The trustees consider it appropriate to prepare these Financial Statements under the going concern basis.
Page I
Ashmole & Co.

Cardlgan Building Preservalion Trust
Report of the Trustees
for the Year Ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trnst, and constitutes a limi*d company, limited by
gLiarantee, as defined by the Companies Act 2006.
Cardigan Building Preservation Trnst is a company incorporated in March 2001 and limited by guarantee. It is registered
as a charity with the Charity Conmiission and is governed by its Memordndum and Articles of AssociatioL None of its
officeTS holds any financial interest in the company.
REFERENCE AND ADMLYISTRATIVE DETAILS
Registered Company number
04191325 (England and Wales)
Registered Charity number
1092026
Registered office
Guildhall
CARDIGAN
Ceredigion
SA43 IJL
Trustees
M Davies
R Evans
J Orbach
D Owen
Mrs L Sheen
H Williants - Treasurer
Mrs A F Stokoe
Company Secretary
Mrs L Sheen
Independent Examiner
Ab"hmole & Co
Manchester House
Grosvenor Hill
Cardigan
Ceredigion
SA43 IHY
Report of the trustee ,
orporating a strategic report. approved by order of the board of trustees, as the company
directors. on ......... . .... .. . ...
. and signed on the board's behalf by:
H Williams - Treasurer - Trustee
Page 2
AshnK>le & Co.

Independent Examiner's Report to the Truslees of
Cardigan Bufilding Preservation Trust
Independent examiner's report to the trustees of Cardigan Building Preservatfion Trust {'the Company,)
I report lo the charity trustees on my examination of the accounts of thc Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charitys trustees of the Company (and also its directors for the pU￿oseS of company law) you are responsibl¢ for
the prepardtion of the accounts in accordance with the requirements of the Companies Act 2006 Cthe 2006 ACVI.
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act
and are eligil)le for independent examination, I report in respect of my examination of your charitys accounts as carried
out under Section 145 of the Charities Act 2011 ('the 201 l A¢t'). In canylng out my examination I have followed the
Directions given by the Charity Con]mission under Section 145{5) (b) of the 2011 Act.
Independent examiner's statement
I have Completed my examination. I confmn that no matters have come to my atfrntion in connection with the
examination giving me cause to believe:
accounting re¢or&s were not kept in respect of the Company as requtred by Section 386 of the 2006 Act. or
the a¢¢ounts do not accord with those records; or
the accounts do not Comply the accounting requirejnents 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
amination. or
the accounts have not been prepared in accordance with the methods and principles of the Statrment of
Recornmended Practice for accounting and rq)orting by charities (applicable to charities preparing their a¢¢ounts
in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come a¢ross no other matters in connection with the examinalion to which attention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
/izaf
Karl Wil
Ashmole & Co
Manchester House
Grosvenor Hill
Cardigan
Ceredigion
SA43 IHY
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Ashmole & Co.

Cardigan Building Preservation Trust
Statement of Fin¥dneial Activities
for the Year Ended 31 March 2025
31.3.25
Total
fimds
31.3.24
Tothl
funds
Unrestricted
fund
Restricted
fund
Notes
II¥COME AND ENDOWMENTS FROM
Charitable actiTrryties
Build]ng preservation
5,000
167,070
172,070
778,386
Other inwm¢
5,013
5,013
5,014
Totsl
10,013
167,070
177,083
783,400
EXPENDTTURE ON
Charfitable activities
Building preservation
5,141
5,141
4,858
Othtt
83,186
83,186
6,049
TotAI
5,141
83.186
88,327
10,907
NET INCOME
4,872
83,884
88,756
772,493
RECONCILIATION OF FUNDS
Total funds brought fonvard
6,334
3,989,931
3,996,265
3223,772
TOTAL FUNDS CARRIED FORWARD
11,206
4,073,815
4,085.021
3,996,265
The notes fornj part of these financial ststements
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Ashmole & Co.

Cardigan Building Preservation Trnst
Balance Sheet
31 Mareh 2025
31.3.25
Total
funds
31.3.24
Totsl
funds
Unrestricted
fund
Restricted
fund
Notes
FIXED ASSETS
Tangible assets
4,076,096
4,076,096
4,058,160
CURRENT ASSETS
Debtors
Cash at bank
5,105
6,101
59.656
8,517
64,761
14,618
56.175
22,663
11,206
68,173
79,379
78,838
CREDITORS
Amounts falling due within one year
io
(70,454)
(70,454}
{140,733}
ET CURRENT ASSETS
11,206
(2,281)
8,925
(61.895}
TOTAL ASSETS LESS CURRENT
LIABILITIES
11,206
4,073,815
4,085,021
3,996,265
NET ASSETS
11,206
4,073,815
4,085,021
3,996,265
FUNDS
Unreslricted fimds
Restricted fijnds
li
11,206
4,073,815
6,334
3,989,931
TOTAL FUNDS
4,085,021
3,996,265
The chaTitable ¢ompany is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 March 2025.
The members have not required the company to obtain an audit of its financial ststements for the year ended
31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charitable Company keeps a¢¢ounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing fmancial statements which give a true and fair view of the state of affairs of the charitable company as
at the end of each financial year and of its sU￿]uS or deficit for each financial year in accordance with the
requirements of Seclions 394 and 395 and which othenvise comply with the requirements of the Companies Act
2006 relating to fmancial statements, so far as applicable to the clwitable company.
(b)
The finan
Iq
tements were approved by the Board of Tn￿tee8 and authorised for issue
, and were signed on its behalf by:
H Williams - Tre&surer- Trust¢¢
The notes forni part of these financial statements
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Ashmole & Co.

Cardigan Bulldlng Preservation Trust
Cash Floiv Statement
for the Year Ended 31 March 2025
31.3.25
31.3.24
Notes
Cash flows from operating activities
Cash generated from operations
Inierest paid
93.077
716,545
(6,049)
Net cash provided by operating a¢tivities
93,077
710,496
Cash t]ows from investlng aetlvltfies
Purchase of tan￿7)le fixed assets
(101,122)
(759,806)
Net cash used in investing activities
(101,122)
(759,806)
Change in cash and cash equivalents in
the reporting period
Cash and ¢ash equivalents at the
beginning of the reporting period
{8,045)
(49,310)
22,663
71,973
Cash and cash equfivalents at the end of
the reporting period
14,618
22,663
The notes forni part of these financial statements
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Ashmole & ¢0.

Cardigan Building Preservation Trust
Notes to the Casb Flow Statement
for the Year Ended 31 March 2025
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.3.25
31.3.24
Net ineome for the reporting period (as per the Statement of Financial
Aetivfities)
Adjustments for:
Depreciation charges
Interest paid
(In¢rease)/decrease in debtors
Decrease in creditors
88,756
772,493
83,186
6,049
267,483
(329,480)
(8,586)
(70,279)
Net cash provided by operatfions
93,077
716,545
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4,24
Cash flow
At 31.3.25
Iyet cash
Cash ai bank
22,663
(8,045)
14,618
22,663
(8,045)
14.618
Total
22,663
(8,045)
14,618
The notes forn part of these financial statements
Page 7
Ashmole & Co.

Cardigan Building Preservation Trust
Notes to the Financial Statements
for the Year Ended 31 March 2025
ACCOUNTING POLICIES
Basis of preparlng the flnancial stvdtements
The financial statements of the charitable company, wbich is a public benefit ¢ntity under FRS 102, have be¢n
prepard in acrordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement
of Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),.
Financial Reporting Slandard 102 'The Financial Reporting Standard applicablc in the UK and Republic of
Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention.
Income
All income is recognised in the Stafrmen¢ of Financial Activities once the charity has entitlement to the funds, it
is probable that the income will be received and the amount cau b¢ measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation wnunitling the
charity to that expenditure, it is probable that a trdnsfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure 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
attributed to particular headings they have been allocated to activities on a basis consistent with the use of
reSoU￿es.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to ￿TIte off each asset over its estimated useful
lift.
Property
Fixtures and fittings
Computer equipment
20/0 on cost
at varying rates on cost
25/0 on cost
Taxatio
The charity is exempt from corporation lax on its Charitable adivities.
Fund accounting
Unrestricted funds can be used in a¢Gordance with the ¢haritable objectives at the discretion of the twstees.
Restricted fi￿d$ can only be used for particular restricted PUTposes within the objects of the charity. Restrictions
arise when specifled by the donor or when fi]nds are raised for partI￿lar restricted purposes.
Further explanation of the nature and putpose of each fund is included in the notes to the fu￿ncial ststements.
Pag¢ 8
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Ashmde a co.

Cardigan Building Preservatlon Trllst
Iyotes to the Financial Statements - continued
for the Year Ended 31 Mareh 2025
INCOME FROM CHARITABLE ACTlVffIKS
31.3.25
31.3.24
Activity
Building preservation
maldW￿ Williams
Ch&ritable Trust
5,000
Building preservalion
Heritage Lottery Fund
41,823
142,992
Building preservation
Ceredigion CC towards MH
Project
55,544
195,049
Building preservation
Rural Development Grant
15,510
Building preservation
Transfornling Tovrns Grdnt
{strategic)
28,274
Building preservation
Coastal Communities Grant
27,139
134,010
Building preservation
Cadw Grant
10,000
Building preservation
Building For Future Grant
252,551
Building preservation
Cynnal Y Cardi
42,564
172,070
778,386
CHAIUTABLE ACTIVITIES COSTS
Support
costs (see
note 4)
Direct
Costs
Totals
Building preservation
4,493
648
5,141
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Cardigan Building Preservation Trust
Notes to the Finaneial Statements - contlnued
for the Year Ended 31 March 2025
SUPPORT COSTS
Governance
costs
Management
Totals
Building PreSen￿lI0n
98
550
648
NET INCOMEI(EXPENDITURE)
Net in¢ome/(expenditure) is stated after charginpJ(crediting):
31.3.25
31.3.24
Depreciation- owned assets
83,186
TRUSTEES, REMUNEIL4TION AND BENEFrrs
There were no trustees, Temuneralion or other benefits for the year ended 31 March 2025 nor for the year ended
31 Mar¢h 2024.
Trustees expenses
There were no trustees, expens&4 paid for the year ended 31 Mar¢h 2025 nor for the year ended 31 March 2024.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIvrrKES
Unrestricted
fLuJd
Restricted
nd
Totsl
funds
INCOME AND ENDOWMENTS FROM
Charitable a¢tlvities
Building p￿serVatIon
778,386
778,386
Other in¢ome
5.014
5,014
Total
5,014
778,386
783,400
EXPENDITURE ON
Charitable activities
Building preservation
4,858
4,858
Oiher
6,049
6,049
Total
4,858
6,049
10,907
NET INCOME
156
772,337
772,493
RECONCILIATION OF FUM)S
Total fimds brought forward
6,178
3,217,594
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Ashmde & C

Cardigan Building Preservation Trust
Notes to the Financial Statements - conllnlled
for the Year Ended 31 March 2025
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
fimd
Totsl
funds
TOTAL FUNDS CARRIED FORWARD
6,334
3,989,931
3,996,265
TANGIBLE FIXED ASSETS
Fixtures
Computer
equipment
Propety
fittings
Totals
COST
At l April 2024
iidditions
4,058,160
101,122
28,015
646
4,086,821
101,122
At 31 March 2025
4,159282
28,015
646
4,187,943
DEPRECIATION
At l April 2024
Charge for year
28,015
646
28,661
83,186
83,186
At 31 Mar¢h 2025
83,186
28,015
646
111,847
IYET BOOK VALUE
At 31 March 2025
4,076,096
4,076.096
At 31 March 2024
4,058,160
4,058,160
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
31.3.24
Other debtors
64,761
56,175
io.
CREDITORS: AMOUNTS FALLING DUE WITUIN ONE YEAR
31.3.25
31.3.24
Other cr¢ditor8
Accrned expenses
69,454
1,000
139,733
1,000
70,454
140,733
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Cardigan Building Preservation Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2025
ii.
MOVEMENT IN FLryDS
Net
movement
in funds
At
31.3.25
Ai 1.4.24
Unrestricted funds
General fund
6,334
4,872
11,206
Restricted funds
Restricted
3,989,931
83,884
4,073,815
TOTAL FUNDS
3,996,265
88,756
4,085,021
Net movement in ￿nds, included in the above are as follows:
Incoming
resource5
Resources
expended
Movement
in funds
Unrestrieted funds
General fund
10.013
(5,141)
4,872
Restricted funds
Restricted
167.070
(83,186)
83,884
TOTAL FUNDS
177,083
(88,327)
88,756
Comparatives for movement in funds
Net
movement
in fimds
At
31.3.24
At 1.4.23
Unrestrieted funds
Gener81 fund
6,178
156
6,334
Restricted funds
Restricted
3,217,594
772,337
3,989,931
TOTAL FUNDS
3223,772
772,493
3,996,265
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Cardigan Building Preservation Trust
Notes to the Finaneial Statements - continued
for the Year Ended 31 March 2025
11.
MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestrieted funds
General fund
5,014
(4,858)
156
Restricted fund5
Restricted
778,386
(6,049}
772,337
TOTAL FUNDS
783,400
(10,907)
772,493
A ¢urrent year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
31.3.25
At 1.4.23
Unrestricted funds
General fimd
6,178
5,028
11,206
Restrlcted funds
Restricted
3,217,594
856,221
4,073,815
TOTAL FUNDS
3,223,772
861,249
4,085,021
A cu￿ent year 12 months and prior year 12 months combined net movement in fi]nds, included in the above are
as follows:
Incoming
resources
Resources
expended
Movement
in fimds
Unrestrieted funds
General fund
15,027
(9,999)
5.028
Restricted funds
Restricted
945,456
(89,235)
856,221
TOTAL FUNDS
960,483
(99,234)
861,249
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Cardlgan Bulldlng Preservation Trust
Notes to the Financial Statements - eontlnued
for the Year Ended 31 March 2025
12.
RELATED PARTY DISCLOSURES
There were no related paty tra￿aCtionS for the year end¢d 31 March 2025.
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Ashmole & Co.

Cardlgan Building Preservation Trust
Detalled Statement of Financial Activilies
for the Year Ended 31 March 2025
31.3.25
31.3.24
INCOME AND ENDOWMENTS
Charitable acti￿lIeS
Maldv/yn Williams Charitable TTUSt
Heritage Lottery Fund
Ceredigion CC towards MH PrOj￿t
Rural Development Grant
Transfomiing Towns Grant (strategic)
Coastal Communities Grant
Cadw Grant
Building For Future Grant
cYnn￿ Y Cardi
5,000
41,823
55,544
142,992
195,049
15,510
28,274
134,010
10,000
252,551
27,139
42,564
172,070
778,386
Other ineome
Rent
Miscellaneous income
5,000
13
5,000
14
5,013
5,014
Totf41 incoming resources
177,083
783,400
EXPEIYDrruRE
Charitable aetivities
Insurdnce
Sundries
Rents payable
480
13
4,000
13
4,000
4,493
4,013
Other
Depreciation of long leasehold
Bank loan interest
83,186
6.049
83,186
6,049
Support costs
Management
Sundries
98
195
Governance ¢o$ts
Accountancy fees
550
650
Total resources expended
88,327
10.907
Net income
88,756
772,493
This page does not forn] part of the statutory financial statements
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Ashmole & Co.