GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
(A company limited by guarantee)
FINANCIAL REPORT and STATEMENTS FOR THE YEAR ENDED 31st AUGUST 2025
COMPANY NUMBER : 3102665
REGISTERED CHARITY NUMBER : 1097614
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN ANNUAL REPORT FOR THE YEAR ENDED 31st AUGUST 2025
| Contents | Page | |
|---|---|---|
| Legal and administrative information | 1 | |
| Trustees’ Report | 2 | – 3 |
| Independent Examiner’s Report | 4 | |
| Statement of Financial Actions | 5 | |
| Balance Sheet | 6 | |
| Cash Flow Statement | 7 | |
| Notes on the Financial Statements | 8 – 17 |
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
LEGAL AND ADMINISTRATIVE INFORMATION
Constitution
Gwasanaeth Cerdd Ysgolion Gwynedd a Môn is a company limited by guarantee and was registered as a charity on 20 May 2003. The company is governed by its articles and memorandum of association. Company number: 3102665. Charity number: 1097614. On 10 July 2025 the charity’s name was changed from Gwasanaeth Ysgolion William Mathias Cyf to Gwasanaeth Cerdd Ysgolion Gwynedd a Môn.
Directors and Trustees
The directors of the charitable company ('the charity'), are also the trustees of the charity. Throughout this report they are referred to as the trustees. Excluding the first Annual Meeting one third of the Board members are to resign in their rotation annually. These members have the right to be re-elected to the Board.
Company structure
The company is managed by a Board of Trustees who are responsible for making the main decisions of the company. The company is served by the Creative Director, Mr Tudur Eames who is responsible for running the company day to day.
| Main office | Uned 21-23 |
|---|---|
| Galeri | |
| Caernarfon | |
| Gwynedd | |
| LL55 1SQ | |
| Bank | HSBC Bank |
| 24 Castle Square | |
| Caernarfon | |
| Gwynedd | |
| LL55 2NB | |
| Solicitors | Darwin Gray LLP, |
| Helmont House, | |
| Churchill Way, | |
| Caerdydd. | |
| CF10 2HE | |
| Independent Examiner | W J Matthews & Son |
| 11-15 Bridge Street | |
| Caernarfon | |
| Gwynedd | |
| LL55 1AB |
1
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN TRUSTEES’ REPORT FOR THE YEAR ENDED 31st AUGUST 2025
The trustees present their report and the audited accounts for the year ended 31st August 2025. Legal and administrative information is included on page 1 and forms part of this report. The accounts comply with the company's articles, the Charities Act 2011, the Companies Act 2006 and also the Statement of Approved Practices "Accounting and Reporting by Charities" in accordance with FRS102 Financial Reporting Standard applicable in the UK and the Republic of Ireland.
Main activities
The main activities of Gwasanaeth Ysgolion William Mathias are to promote and encourage the provision of expressive arts activities in Wales.
The Trustees and their interest in the comopany
The trustees during the year were:
Deilwen Hughes (Chair) Sion Elwyn Hughes Dewi Owen Jones (Resigned 24/10/2025) Wiliam Roger Jones (Resigned 24/10/2025) Alun Llwyd Sion Glyn Pritchard (Resigned 21/10/2025) Idris Morris Jones Elain Wyn Thomas Dr Catrin Elis Williams Tudur Eames Jones (Appointed 11/06/2025)
As the company is limited by guarantee the trustees are not interested in any shares in the company.
Objectives in the Public Interest
The company is a charity and exists for the public benefit as follows:
-
To promote and encourage the provision of Musical activity in Wales (henceforth known as 'The Area'), particularly by promoting the Arts including music related to dance, drama, poetry, television and film.
-
Carry out, for the benefit of the community in the area, organise and provide musical education for children, young people and adults.
-
To provide a center of music and artistic excellence for those who wish to teach, learn, practice, perform and compose in the Area.
-
Establish and maintain a network and/or agency to enable children in the Area to receive Music education in their own schools, and provide opportunities for holding a wide range of musical activities in the Area, in conjunction with other schools and authorities.
The trustees are of the opinion that the objectives for the year have been achieved by continuing to prepare a music service in the Area and expanding the numbers that benefit from the service. The trustees' intention for the future is to continue offering a musical service in the Area.
Financial Information
Total income from the schools increased to £750,574 (2024: £718,419) during the year, with core income and education maintenance grants rising to £95,048 (2024: £78,770). Income from other grants, bank interest, dividends and other sources fell to £202,812 (2024: £258,128), resulting in total income for the year of £1,048,434 (2024: £1,055,317).
Operating costs increased during the year as the company’s activities continued to expand following the lockdown periods. Despite the challenging economic environment and the ongoing war in Ukraine, the value of the investment portfolio saw a modest increase, rising from £379,830 to £403,589 by the year end. In line with the statutory accounts, the year shows net expenditure of £13,325, compared with net income of £25,833 in the previous year. The Board considers the company to remain in a sound financial position, with sufficient resources to meet its obligations and to respond to any financial challenges that may arise in the future.
2
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN TRUSTEES’ REPORT FOR THE YEAR ENDED 31st AUGUST 2025 (Contineud)
Induction and training of Trustees
The trustees have received training on their roles and responsibilities.
Strategy, reserve fund policy and investments
Following the recognition of net expenditure of £13,325 for the year, the charity’s unrestricted fund at 31 August 2025 stands at £652,826, compared with £666,151 in 2024. Of this amount, £135,000 has been designated to a specific fund to cover potential redundancy costs, together with six months’ operating costs should the service cease. The Board considers this level of reserves to be appropriate and proportionate to the operational risks faced by the charity. Maintaining a robust reserves position enables Gwasanaeth Cerdd Ysgolion Gwynedd a Môn to continue delivering a high‑quality service and to pursue its strategy of expanding orchestral opportunities within the area.
Following the trustees’ decision in 2011, the Common Fund for Income was reinvested in an HSBC Global Asset Management portfolio managed by HSBC. The Board recognises that the level of risk associated with this investment is higher than previously, but considers the strategy appropriate given the potential for increased income and gradual growth in the value of the investment over time. For the year ended 31 August 2025, dividend income increased to £8,996 (2024: £8,620), while gains on revaluation and disposal of investments fell to £18,626 compared with £29,530 in the previous year.
In addition to reviewing the investment policy, the Charity has also reviewed the way in which the service is delivered, taking appropriate steps to manage operating costs in line with its financial responsibilities and risk strategy.
Risk Review
Systems have been established to reduce exposure to major hazards. Procedures are in place to reduce internal risk by implementing appropriate authorisation processes to ensure consistency in the quality of provision for all operational aspects of the charity. The procedures are reviewed from time to time.
Responsibilities of the Trustees
The trustees are responsible for preparing the annual report and financial statements in accordance with applicable law and UK GAAP. The trustees have a specified responsibility for preparing reports for the members and for the company's assets. The trustees are required to submit, for each period, financial statements complying with the provisions in the Companies Act 2006 which apply to small companies, regarding the circumstances of the company at the end of the accounting period, and the profit or loss for that period. When preparing the financial statements, suitable accounting policies must be used and consistently formulated, with reference to reasonable and prudent judgments and estimates. Applicable accounting standards were used and the accounts were prepared on a going concern basis. The trustees are responsible for ensuring that arrangements have been made to maintain adequate accounting records, to protect the company's assets, and to ensure that provision is made to prevent and discover fraud and other irregularities.
Listed on page 2 are the members of the company who served during the year and up to the date of the report, namely trustees for the purpose of company law and trustees for the purpose of charitable law.
The directors' report was prepared in accordance with the special provisions that apply to small companies in accordance with the small companies regime.
Approved on behalf of the Trustees on 15th April 2026 and signed by:
............................................................................ Deilwen Hughes (Trustee)
3
INDEPENDENT EXAMINER'S REPORT TO TRUSTEES GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
I report to the charity's trustees on my examination of the accounts of the company on pages 5 - 15 for the year ended 31 August 2025.
Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors for the purpose of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act')
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011, ('the ‘2011 Act'). In carrying out my examination I have followed the instructions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's report
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
(1) that accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
(2) the accounts do not accord with those accounting records; or
(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give 'a true and fair view which is not a matter considered as part of an independent examination; or
(4) the accounts have not been prepared in accordance with the methods 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.
David Chidley, W J Matthews & Son, Chartered Accountants, 11-15 Bridge Street, Caernarfon, LL55 1AB.
Date: 15th April 2026
4
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN STATEMENT OF FINANCIAL OPERATIONS (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31st AUGUST 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Income | |||
| Charitable Activities | |||
| School income | 750,574 | 718,419 | |
| Concerts and other income | 40,010 | 49,546 | |
| Voluntary income | |||
| Core income - Gwynedd | 40,063 | 9,550 | |
| Education maintenance grants | 54,985 | 69,220 | |
| Other income | 5 | 151,932 | 198,379 |
| Investments | |||
| Bank interest | 1,874 | 1,583 | |
| Portfolio income | 8,996 | 8,620 | |
| __ | __ | ||
| Total | 1,048,434 | 1,055,317 | |
| Expenditure on: | |||
| Charitable activities | 6 | 1,080,385 | 1,059,014 |
| __ | __ | ||
| Net income / (Expenditure) for the year | (31,951) | (3,697) | |
| Other gains and losses | |||
| Gains / (Losses) on investnents | 10 | 18,626 | 29,530 |
| __ | _ | ||
| Net Movement in funds | (13,325) | 25,833 | |
| Balance at 1st September 2024 | 666,151 | 640,318 | |
| __ | __ | ||
| Balans at 31st August 2025 | 15 | £652,826 | £666,151 |
| ======= | ======= |
The results above are all derived from ongoing activities.
5
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
BALANCE SHEET
31st AUGUST 2025
| 2025 | 2025 | 2024 | 2024 | ||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Tangible assets | 9 | 11,885 | 24,073 | ||
| Investments | 10 | 403,589 | 379,830 | ||
| _ | _ | ||||
| 415,474 | 403,903 | ||||
| Current Assets | |||||
| Debtors | 12 | 52,124 | 26,141 | ||
| Cash at bank and in hand | 206,375 | 250,070 | |||
| _ | _ | ||||
| 258,499 | 276,211 | ||||
| Creditors: | |||||
| Amount payable within a year | 13 | (21,147) | (13,963) | ||
| _ | _ | ||||
| Current assets less current liabilities | 237,352 | 262,248 | |||
| _ | _ | ||||
| Net Assets | £652,826 | £666,151 | |||
| ======= | ======= | ||||
| Funds | |||||
| Unlimited Fund | 17 | £652,826 | £666,151 | ||
| ======= | ======= |
For the year ending 31 August 2025, the company was entitled to be exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ Responsibilities:
• 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;
• 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The financial statements were approved on 15th April 2026 and signed on behalf of the Trustees:
................................................. Deilwen Hughes (Trustee)
6
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
CASH FLOW STATEMENT
| FOR THE YEAR ENDED 31st AUGUST 2025 | FOR THE YEAR ENDED 31st AUGUST 2025 | FOR THE YEAR ENDED 31st AUGUST 2025 | |
|---|---|---|---|
| Notes | 2025 | 2024 | |
| £ | £ | ||
| Net cash flow from operating activities | 16 | (49,433) | 7,382 |
| _ | _ | ||
| Net cash flow from investment activities | |||
| Interest received | 1,874 | 1,583 | |
| Dividend income | 8,996 | 8,620 | |
| Sale of investments | 185,404 | 124,670 | |
| Investment cost | (188,577) | (130,711) | |
| _ | _ | ||
| Money used to invest | 7,697 | 4,162 | |
| _ | _ | ||
| Increase/(Decrease) in cash and cash equivalents |
(41,736) | 11,544 | |
| Cash and cash equivalents at 1 September 2024 | 257,493 | 245,949 | |
| __ | __ | ||
| Cash and cash equivalents at31 Awst 2025 | £215,757 | 257,493 | |
| ======= | ======= |
7
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS FOR THE YEAR to 31st AUGUST 2025
1. General information
The company was registered in Wales as a private company limited by guarantee. The company's registered address is Unit 21-23 Galeri, Victoria Dock, Caernarfon, Gwynedd, LL55 1SQ.
- Compliance statement
The financial statements have been prepared to comply with the provisions of the Statement of Approved Practices "Accounting and Reporting by Charities" in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
Gwasanaeth Cerdd Ysgolion Gwynedd a Môn meets the FRS102 definition of a public interest entity. Assets and liabilities have been recorded in the accounts according to historical cost unless they have been restated in accordance with a relevant accounting policy.
3. Accounting policies
a) Prepare the accounts on a going concern basis
The trustees are of the opinion that there is no reason not to prepare the accounts on a going concern basis.
- b) Company status
The company is limited by guarantee. The company has no shares.
After the company has been wound up or dissolved, if any property at all remains after the payment of all its debts and obligations, it may not be distributed among the members of the company, but it will be given or transferred to some other organisation determined by the Management Committee of the Company at the time of its winding up, and which has similar objectives to those of the company and which will prohibit the distribution of its property among its members to at least the extent that the memorandum prohibits the company, and if and as long as this provision cannot be implemented, then to some charitable purpose in the field of musical education.
c) Funds Accounting
General funds are unrestricted funds which are ready to be used by the trustees to promote the general objectives of the charity and which have not been appointed for any other purpose. Specified funds are unrestricted funds that have been earmarked towards specific costs.
ch) Finance Resources
Funding resources are shown in the Statement of Financial Activities when the charity has a legal right to the income and the amount can be measured with reasonable precision.
d) Resources used
All expenditure is calculated on an accrual basis and is classified under headings that combine all the costs related to the heading. Where it is not possible to attribute costs directly to headings they have been allocated on a basis that is consistent with the use of the resources.
The cost of charitable activities are the costs relating to expenditure on the charity's objectives whether it is a direct cost or an auxiliary cost.
Governance costs are the costs incurred in connection with the administration of the charity and to comply with constitutional and legal requirements.
8
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS (Continued) FOR THE YEAR to 31st AUGUST 2025
dd) Investments
The company's investments have been valued according to the average market price at the close of the market on the balance sheet date, with the losses/gains as a result of the revaluation being shown in the Statement of Financial Activities.
e) Depreciation
Fixed assets with a cost of more than £500 are capitalised and included at cost including any ancillary costs of acquisition. The fixed interests are shown at cost less depreciation. Depreciation was calculated on the basis of writing off the cost of the benefits over their estimated life as follows:
Motors - four years (reducing balance)
Computer equipment - four years (straight line)
e) Pension costs
The company operates a defined contribution pension scheme. The pension costs are charged when they occur, at the expense of the statement of financial actions.
4. Turnover and profit
- The turnover and profit are all derived from providing music services to schools (excluding VAT). All of the turnover takes place within the United Kingdom.
5. Other income
| Other income | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Investment in Support of the National Music Plan: | ||
| Gwynedd | 120,341 | 136,907 |
| Môn | 22,863 | 51,472 |
| Other grants | 8,728 | 10,000 |
| _ | _ | |
| £151,932 | £198,379 | |
| ====== | ====== |
9
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS (Continued) FOR THE YEAR to 31st AUGUST 2025
6. Total resources used
| Basis | Basis | Activities | Schools | Govenment | 2025 | 2024 | |
|---|---|---|---|---|---|---|---|
| Distribution | £ | £ | £ | £ | £ | ||
| Cost which have been | |||||||
| allocated directly to activities | |||||||
| Tutors’ costs | U | 51,479 | 685,347 | - |
736,826 | 731,241 |
|
| General activities costs | U | 113,720 | - | - | 113,720 | 129,293 |
|
| ______ | ______ | ______ | __ | _ | |||
| 165,199 | 685,347 | - | 850,546 | 860,534 | |||
| Distributed support costs | |||||||
| between activities | |||||||
| Administrative salary | D | 74,195 | 24,732 | - |
98,927 | 92,558 |
|
| Employer pension cost | D | 4,201 | 1,400 | - |
5,601 | 5,309 |
|
| Travelling costs and the | |||||||
| running of a van | D | 8,111 | 2,704 | - |
10,815 | 8,017 |
|
| Staff training | D | 2,704 | 901 | - | 3,605 | 5,573 |
|
| Insurance | D | 1,975 | 659 | - |
2,634 | 2,269 |
|
| Post, paper and telephone | D | 5,740 | 1,913 | - |
7,653 | 6,016 |
|
| Computer costs | D | 2,795 | 932 | - |
3,727 | 3,087 |
|
| Internet costs | D | - | - | - | - | 980 | |
| Legal costs | D | 7,650 | 2,550 | - |
10,200 | - | |
| Marketing and PR | D | 1,139 | 380 | - |
1,519 | - | |
| Staff Handbook | D | - | - | - | - | 862 | |
| Accountancy | D | 2,617 | 872 | 1,875 |
5,364 | 3,966 |
|
| Consultancy support | D | 2,713 | 905 | - |
3,618 | - |
|
| Investment managers | D | 2,897 | 966 | - |
3,863 | 3,776 |
|
| Bank charges | D | 49 | 16 | - |
65 | 75 |
|
| Rent | D | 11,702 | 3,900 | - |
15,602 | 15,126 |
|
| Sundry costs and cleaning | D | - | - | - | - | 1,046 | |
| Care and repair of instruments | D | 3,026 | 1,008 | - |
4,034 | 2,260 |
|
| Monitoring cost | D | 3,870 | 1,290 | - |
5,160 | - |
|
| Development cost | D | 1,887 | 629 | - |
2,516 | 16,562 |
|
| Schools tour | D | 18,526 | 6,176 | - | 24,702 | 13,058 |
|
| Pupils’ report | D | 1,991 | 664 | - |
2,655 | 2,088 |
|
| Business support | D | 3,847 | 1,282 | - |
5,129 | 1,437 |
|
| Depreciation | D | 9,140 | 3,047 | - |
12,187 | 13,504 |
|
| DBS | D | 172 | 57 | - |
229 | 898 |
|
| Companies House | U | - | - | 34 | 34 | 13 | |
| ______ | ______ | _ | _ | ______ | |||
| Total cost of assisting | 170,947 | 56,983 | 1,909 |
229,839 | 198,480 |
||
| Total | £336,146 | £742,330 | £1,909 |
£1,080,385 | £1,059,014 | ||
| ====== | ====== | ====== | ======= | ======= |
The above costs are classified as follows: direct cost (U), based on use (D).
10
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS (Continued) FOR THE YEAR to 31st AUGUST 2025
| 7. | Staff costs | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Salaries | 88,199 | 88,569 | |
| National Insurance | 5,127 | 3,989 | |
| Pension | 5,601 | 5,309 | |
| _ | _ | ||
| £98,927 | £97,867 | ||
| ======= | ======= |
On average, there were 2 (2024 – 2) staff employed during the year. No member of staff earned over £60,000 a year (2024 - none). The charity's key management personnel include the trustees and the Manager. During the year the cost of the charity's key management personnel employees was £59,312 (2024 - £56,219).
8. N et operating expenditure
| Net operating expenditure | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| The net operating expenditure is arrived at after raising: | ||
| Recognition of the independent examiner: | ||
| Accounting and others | 5,364 | 3,966 |
| Employer’s pension | 5,601 | 5,309 |
| ====== | ====== |
During the year, £2,565 was paid (2024 - £-) to one Trustee for work carried out on behalf of the Charity.
During the year, the Charity’s General Manager was appointed as a trustee on 11 June 2025. In accordance with the charity’s governing document, the General Manager continued to receive remuneration for their operational duties in their role as Manager. No remuneration was paid in respect of their role as a trustee.
8. Tangible Fixed Assets
| Tangible Fixed Assets | ||||
|---|---|---|---|---|
| Musical | Motor | Office | ||
| Instruments | Vehicles | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1st September 2024 and | ||||
| at 31st August 2025 | £3,795 | £28,772 | £46,126 | £78,693 |
| ===== | ====== | ===== | ====== | |
| Depreciation | ||||
| At 1st September 2024 | 3,795 | 12,925 | 37,901 | 54,621 |
| Cost for the year | - | 3,962 | 8,225 | 12,187 |
| ______ | _____ | ______ | ______ | |
| At 31st August 2025 | £3,795 | £16,887 | £46,126 | £66,808 |
| ===== | ===== | ===== | ====== | |
| Net book value | ||||
| At 31st August 2025 | £- | £11,885 | £- | £11,885 |
| ===== | ===== | ===== | ====== | |
| At 1st September 2024 | £- | £15,847 | £8,226 | £24,073 |
| ===== | ===== | ===== | ====== |
The fixed assets are used directly to promote the charity's objectives
11
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS (Continued) FOR THE YEAR to 31st AUGUST 2025
10. Investments
| Investments | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| HSBC Investment Portfolio | £403,589 | £379,830 |
| ======= | ======= |
The investments are shown according to their market value. The corresponding historical value on 31 August 2025 is as follows:
| Historical | Market | ||
|---|---|---|---|
| Cost | Value | Difference | |
| £ | £ | £ | |
| HSBC Portfolio Investments | 368,360 | 394,207 | 25,847 |
| Cash at bank | 9,382 | 9,382 | - |
| _ | _ | _ | |
| £377,742 | £403,589 | £25,847 | |
| ====== | ====== | ====== | |
| Historical | |||
| Cost | |||
| HSBC Managed Portfolio | £ | ||
| Cost at 1st September 2024 | 366,228 | ||
| Income on the sale of investments | 185,404 | ||
| Cost of investments sold | (179,023) | ||
| Dividend income and interest | 8,996 | ||
| Investment Managers’ costs | (3,863) | ||
| _ | |||
| Cost at 31st August 2025 | £377,742 | ||
| ====== |
At 31st August 2025 the HSBC Managed Portfolio included the following:
| Market | Market | |
|---|---|---|
| Value | Value (£) | |
| 2025 | 2024 | |
| Fixed Interest Investments – United Kingdom | 7,210 | - |
| Fixed Interest Investments – Foreign | 128,086 | 148,141 |
| Equity – United Kingdom | 4,714 | 2,162 |
| Ecwiti – Foreign | 233,938 | 214,069 |
| Other | 20,259 | 8,035 |
| _ | _ | |
| Value of HSBC Managed Portfolio at 31st August 2025 | £394,207 | £372,407 |
| ====== | ======= |
12
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS (Continued) FOR THE YEAR to 31st AUGUST 2025
10. Investments continued.....
Earnings/(Losses) on revaluation and sale of investments
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Income on the sale of investments | 185,404 | 124,670 |
| Less cost of investments sold | (179,023) | (124,319) |
| _ | _ | |
| Profit / (Loss) on the sale of investments | 6,381 | 351 |
| Profit / (Loss) on the re-valuation of the HSBC Portfolio | 12,245 | 29,179 |
| _ | _ | |
| Net Profit /(Losses) for the year | £18,626 | £29,530 |
| ====== | ====== |
11. Tax on profits from ordinary activities
On the 20th May 2003 the company was registered as a Charity and from this period onwards the company is not subject to corporation tax.
12. Debtors – due within one year
| Debtors – due within one year | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Commercial debtors | 29,480 | 3,386 |
| Other debtors | 16,331 | 18,316 |
| Advance payments | 6,313 | 4,439 |
| _ | _ | |
| £52,124 | £26,141 | |
| ====== | ====== | |
| Creditors – amounts payable within a year | ||
| 2025 | 2024 | |
| £ | £ | |
| Other taxes and social security | 1,683 | 1,754 |
| Accumulations | 11,314 | 10,684 |
| Other creditors | 8,150 | 1,525 |
| _ | _ | |
| £21,147 | £13,963 | |
| ====== | ======= |
13. Creditors – amounts payable within a year
13
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS (Continued) FOR THE YEAR to 31st AUGUST 2025
14. Pension Scheme
The company operates a defined contribution pension scheme. The plan's assets are held separately from those of the company, in an independently administered fund. The increase for pension costs represents the contributions payable by the company to the fund, namely £5,601 (2024 - £5,309). At the end of the year £5,789 (2024 - £10,684) was owed to the scheme. On 31 August 2025 2 members of staff had joined the pension scheme (2024 – 2).
15. Operating leases
The company has the following implications arising from operating leases expiring as follows:-
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Within one year | 2,794 | - |
| Between two and five years | 4,954 | 8,500 |
| _ | _ | |
| Total | £7,748 | £8,500 |
| ====== | ====== |
16. Reconciling the operating profit with the net cash inflow from operating activities
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Symudiad net mewn cronfeydd | (13,325) | 25,833 | |
| Interest received | (1,874) | (1,583) | |
| Dividend | (8,996) | (8,620) | |
| Depreciation | 12,187 | 13,504 | |
| Losses/ (Gains) on investments | (18,626) | (29,530) | |
| (Increase)/Reduction in debtors | (25,983) | 7,205 | |
| Increase/(Reduction) in creditors | 7,184 | 573 | |
| __ | _ | ||
| Net cash flow of active activities | (£49,433) | £7,382 | |
| ======= | ======= | ||
| Funds | |||
| General | Designated |
||
| Fund | Fund |
Total | |
| £ | £ |
£ | |
| Balance on 1 September 2024 | 536,151 | 130,000 |
666,151 |
| Income for the year | 1,048,434 | - |
1,048,433 |
| Expenditure for the year | (1,080,385) | - |
(1,080,385) |
| Profit / (Loss) as a result of revaluation | 18,626 | - |
18,626 |
| Transfer | (5,000) | 5,000 |
- |
| _ | _ |
_ | |
| Balance on 31 August 2025 | £517,826 | £135,000 |
£652,826 |
| ======= | ======= |
======= |
17. Funds
14
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS (Continued) FOR THE YEAR to 31st AUGUST 2025
17. Funds continued....
Previous year
| General | Designated | ||
|---|---|---|---|
| Fund | Fund | Total | |
| £ | £ | £ | |
| Balance 1 September 2023 | 520,318 | 120,000 | 640,318 |
| Income for the year | 1,055,317 | - | 1,055,317 |
| Expenditure for the year | (1,059,014) | - | (1,059,014) |
| Profit / (Loss)as a result of revaluation | 29,530 | - | 29,530 |
| Transfer | (10,000) | 10,000 | - |
| _ | _ | _ | |
| Balance at 31 August 2024 | £536,151 | £130,000 | £666,151 |
| ======= | ======= | ======= |
General Fund
The general fund is available to subsidise musical activities such as competitions, performances, concerts and also residential courses. Funds will also be available to promote in-service training in accordance with statutory requirements.
Designated Fund
The designated fund has been established by the Trustees and is available to take care of redundancy costs together with running costs of the company for a period of six months should the service end.
18. Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| General | Designated | ||
| Fund | Fund | Total | |
| £ | £ | £ | |
| Tangible assets | 11,885 | - | 11,885 |
| Investments | 268,589 | 135,000 | 403,589 |
| Current assets | 258,499 | - | 258,499 |
| Creditors | (21,147) | - | (21,147) |
| _ | _ | _ | |
| Balance at 31 August 2025 | £517,826 | £135,000 | £652,826 |
| ======= | ======= | ======= |
- Transactions with related parties During the year there were transactions with Gwynedd Council and Anglesey Council, as follows:
| Gwynedd Council | Anglesey Council | |
|---|---|---|
| £ | £ | |
| Income | 747,795 | 177,362 |
| Due to the Company at 31 August 2025 | 37,487 | 300 |
| ======= | ======= |
15
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS (Continued) FOR THE YEAR to 31st AUGUST 2025
- Comparative figures for the previous year for the financial statements.
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Income | |||
| Charitable activities | |||
| Schools income | 718,419 | 705,591 | |
| Concerts and other income | 49,546 | 27,533 | |
| Voluntary income | |||
| Core income | 9,550 | 39,360 | |
| Education maintenance grants | 69,220 | 72,688 | |
| Grants income | 198,379 | 171,029 | |
| Investments | |||
| Bank interest | 1,583 | 576 | |
| Portfolio income | 8,620 | 7,810 | |
| __ | __ | ||
| Total | 1,055,317 | 1,024,587 | |
| Expenditure on: | |||
| Charitable activities | 1,059,014 | 984,075 | |
| __ | __ | ||
| __ | |||
| Net Income / (Expenditure) for the year | (3,697) | 40,512 | |
| Other gains and losses | |||
| Gains / (Losses) on investments | 9 | 29,530 | (7,209) |
| __ | _ | ||
| Net movement in reserves | 25,833 | 33,303 | |
| Balance at 1st September 2023 | 640,318 | 607,015 | |
| __ | __ | ||
| Balance at 31st August 2024 | 16 | £666,151 | £640,318 |
| ======= | ======= |
16
GWASANAETH CERDD YSGOLION GWYNEDD A MÔN
NOTES on the FINANCIAL STATEMENTS (Continued) FOR THE YEAR to 31st AUGUST 2025
- Comparative figures for the previous year for the financial statements continued......
Total resources used
| Total resources used | |||||||
|---|---|---|---|---|---|---|---|
| Basis | Activities | Schools | Government | 2024 |
2023 | ||
| Distribution | £ | £ | £ | £ | £ | ||
| Costs which have been | |||||||
| allocated directly to activities | |||||||
| Tutors’ costs | U | 41,809 | 689,432 | - | 731,241 | 686,701 | |
| Cost of various activities | U | 129,293 | - | - | 129,293 | 102,521 | |
| ______ | ______ | ______ | __ | _ | |||
| 171,102 | 689,432 | - | 860,534 | 789,222 | |||
| Distributed support costs | |||||||
| between activities | |||||||
| Administrative salary | D | 30,853 | 61,705 | - | 92,558 | 78,519 | |
| Employer pension cost | D | 1,770 | 3,539 | - | 5,309 | 4,314 | |
| Travelling costs and the | |||||||
| running of a van | D | 2,672 | 5,345 | - | 8,017 | 4,638 | |
| Staff training | D | 1,858 | 3,715 | - | 5,573 | 1,510 | |
| Insurance | D | 756 | 1,513 | - | 2,269 | 2,092 | |
| Post, paper and telephone | D | 2,005 | 4,011 | - | 6,016 | 5,839 | |
| Computer costs | D | 1,029 | 2,058 | - | 3,087 | 3,556 | |
| Internet costs | D | 327 | 653 | - | 980 | 1,011 | |
| Tribunal costs | D | - | - | - | - | 295 | |
| Legal costs | D | - | - | - | - | 1,652 | |
| Marketing and PR | D | - | - | - | - | 5,564 | |
| Bas Data Cost | D | - | - | - | - | 8,309 | |
| Staff Handbook | D | 287 | 575 | - | 862 | 144 | |
| Accountancy | D | 855 | 1,711 | 1,400 | 3,966 | 3,900 | |
| Administrative support | D | - | - | - | 750 | 750 | |
| Investment Managers | D | 1,259 | 2,517 | - | 3,776 | 3,931 | |
| Bank charges | D | 25 | 50 | - | 75 | 67 | |
| Rent | D | 5,042 | 10,084 | - | 15,126 | 16,319 | |
| Sundry costs and cleaning | D | 349 | 697 | - | 1,046 | 722 | |
| Care and repair of instruments | D | 753 | 1,507 | - | 2,260 | 2,737 | |
| Monitoring costs | D | - | - | - | - | 8,195 | |
| Development costs | D | 5,521 | 11,041 | - | 16,562 | 3,234 | |
| School Trip | D | 4,353 | 8,705 | - | 13,058 | 19,389 | |
| COVID costs | D | - | - | - | - | 43 | |
| Pupils’ report | D | 696 | 1,392 | - | 2,088 | 2,314 | |
| Business Support | D | 479 | 958 | - | 1,437 | - | |
| Depreciation | D | 4,501 | 9,003 | - | 13,504 | 15,264 | |
| DBS | D | 299 | 599 | - | 898 | 532 | |
| Companies House | U | - | - | 13 | 13 | 13 | |
| ______ | ______ | _ | _ | ______ | |||
| Total cost of assisting | 65,689 | 131,378 | 1,413 | 198,480 | 194,853 | ||
| Total | £234,107 | £823,494 | £1,413 £1,059,014 | £984,075 | |||
| ====== | ====== | ====== | ====== | ====== |
The above costs are classified as follows: direct cost (U), based on use (D).
17