**NORTH WALES SCIENCE (A company limited by guarantee)**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
**Charity No: 1102959 Company No: 04657911**
## **North Wales Science**
## **Contents:**
|Trustees, directors, officers and advisers|1|
|---|---|
|Report of the Trustees|2 - 4|
|Statement of Trustees' responsibilities|5|
|Independent auditor's report to the members of North Wales Science Limited|6 - 7|
|Statement of financial activities|8|
|Statement of financial position|9|
|Statement of cash flow|10|
|Notes to the financial statements|11 - 21|
## **North Wales Science**
## **Trustees, directors, officers and advisors**
The directors of the charitable company for the purpose of charitable law are its trustees and throughout this report are collectively referred to as the Trustees.
The trustees who were in office during the year and up to the date of signing the financial statements were:
Mr Jasbir Singh Dhesi (resigned 25 June 2025) Mrs Lynda Powell (resigned 28 February 2025) Mrs Leah Maltby Mr Nigel Jones Mr Liam Wynne (resigned 27 March 2025) Mr Nigel Williams Professor Anne Nortcliffe Mr Howard Jones (appointed 25 June 2025)
## **Secretary**
Mrs Emma Forfar (appointed 25 June 2025)
## **Principal and Registered Office**
Plas Coch Campus Mold Road Wrexham LL11 2AW
## **Independent Auditor**
HaysMac LLP Chartered Accountants 10 Queen Street Place London EC4R 1AG
## **Bankers**
Barclays Bank plc Bolton Wellsprings Leicester LE87 2BB
1
## **North Wales Science**
## **Report of the Trustees for the year ended 31 July 2025**
The Trustees, who are also directors of the company for the purpose of the Companies Act, present their annual report and the audited financial statements for the year ended 31st July 2025. The information with respect to trustees, directors, officers and advisors set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association, applicable Accounting Standards in the United Kingdom and the Statement of Recommended Practice (SORP) “Charities SORP (FRS102)” issued in 2015, the Companies Act 2006 and the Charities Act 2011.
The Trustees have had regard to Charity Commission guidance on public benefit in section 17 of the Charities Act 2011. The Trustees consider that public benefit is achieved through the charity's objectives and activities, on which further detail is provided on page 3.
The constitutional provisions for appointing trustees are set out in the company’s Articles of Association. The University Governing Body, as the parent company, has the power to put forward an independent member of their governing body for consideration and approval by the Board. Trustees periodically consider the composition of the Board of Directors and have the power to seek and invite new trustees to join the Board. Trustees thus appointed are then subject to the constitutional provisions relating to retirement and re-election of Directors.
The Company Secretary maintains an “Information for Directors” file which is issued to all trustees. This includes information about the company and its objectives and operations, and about the responsibilities of company directors and charity trustees. Each new trustee is personally briefed by the Chair of the company’s Board.
The company’s Board of Directors (the Board of trustees) is responsible for the strategic management of the company and its compliance with statutory obligations. A Management Group is responsible for the day-to-day running of the science discovery centre which the company operates. The Management group comprises of the Centre's Operations Manager, Education Manager and other senior staff. A report on that group’s work is presented to each meeting of the Board by the Operations Manager.
The company is wholly owned by Wrexham University and operates from a dedicated premises as a science discovery centre providing science exhibits and educational programmes to schools and the public.
Whilst there is no intention to make and accumulate reserves, the charity is financed on a defrayed expenditure basis, when reserves are made from trading activities they are carried forward and used to purchase revenue items and equipment to further the charities aims.
The policy for holding reserves requires a minimum of three months working capital balances to be held in order to provide financial cover for any funding gap that may occur between the end of the funding year, March and the end of employment contracts, June, in any one year.
When setting pay and remuneration of the charity's key personnel, the remuneration committee considers benchmark salary data from the Charity sector.
## **Status and administration**
The charity is a charitable company limited by guarantee, incorporated on 5th February 2003 (04657911) and registered with the Charity Commissioners as a charity on 31st March 2004 (1102959).
## **Accounting Period**
The period of this report is 1st August 2024 to 31st July 2025.
2
## **North Wales Science**
## **Report of the Trustees for the year ended 31 July 2025 (Continued)**
## **Objectives and Activities**
The company’s objectives are:
1. To promote the advancement of education and learning to all that may benefit, of science and technology and in particular (without limiting the generality of the foregoing) to do so by maintaining and carrying on an exhibition to explore various scientific concepts and to encourage an awareness amongst the public of the significance of science and technology in society;
2. To promote public understanding of science and technology through the delivery of educational programmes, science festivals and other such activities as the Company may deem necessary.
The company’s principal business activity is the operation of the science discovery centre Xplore!. Its aims are to:
- generate interest, enjoyment, curiosity and excitement in and about science and technology;
- make more people more comfortable in engaging with science;
- stimulate people to study science and related subjects;
- make people aware of the contribution of science to social and economic developments;
- foster debate about science issues;
- encourage the application of science in the economy.
The company’s objectives in the year ended 31st July 2025 have been to:
- Maintain, in collaboration with Wrexham University, the premises, exhibits and other equipment, and staffing complement necessary to operate the science discovery centre and education programmes.
- Build audiences and enable access for under-served and under-represented communities.
- Ensure the continuation of sponsorship and external grant funding from the Welsh Government and other bodies to underpin financial viability.
- Work towards achieving accreditation and sector-specific quality marks
The company’s strategy for achieving its objectives has been based on:
- Market segmentation enabling focused promotional campaigns in respect of recreational and educational visitors;
- Particular attention to feedback from visitors and educational organisations to enable provision of products and services to meet needs and expectations;
- The development of meaningful links with organisations in the public, private and voluntary sectors;
- A pricing policy sensitive to market demand;
- A flexible staffing structure matching provision with demand.
The costs of the company’s operations are met by admission charges, sponsorship and grant aid. The company does not invest funds.
## **Financial Review**
Net incoming resources of £313,450 have been recorded for the year of operation (2023/24 £640,758). The decrease since the prior year is due to the receipt of the Shared Prosperity Grant capital grant in 2023/24 which is recorded when received in line with the Charities Statement of Recommended Practice. Income and expenditure has been monitored closely throughout the year via regular board reporting.
The company's longer-term policy on reserves is to generate and sustain a reserve equivalent to three months normal expenditure - this is approximately £193,000 for 2025. At the 31 July 2025 total reserves were £3,164,939.
The company presents its financial statements split by restricted funds and unrestricted funds. Unrestricted funds are defined as funds where there are no restrictions on how the funds can be spent - for example entrance fee income and café income. Restricted funds are defined as funds where there are stipulations on how the funds can be spent or rules on when the funds need to be spent by - for example the Inspiring Science Fund and other grant agreements.
The parent organisation has committed to provide financial support to the company to enable it to continue to trade and meet its liabilities as they fall due for a period of not less than twelve months from the date that the financial statements are signed. Taking this support and the future prospects of the company into account, the Trustees consider it appropriate to prepare these financial statements on a going concern basis. The Trustees have considered the ability of the parent company to provide financial support if required.
3
## **North Wales Science**
## **Report of the Trustees for the year ended 31 July 2025 (Continued)**
## **Achievements and Performance**
Xplore! Science Discovery Centre has achieved its first full year of operation at its intended full operating model.
A total of 33,086 visitors (2023/24: 36,031) were recorded in the year to 31st July 2025, including 5,524 (2023/24: 6,651) attending in school groups. These figures represent visitor numbers to the centre itself.
In addition to visits to the centre, 24,518 visitors (2023/24: 27,765) took part in Xplore!’s outreach programme. This figure includes 1,248 (2023/24: 1,116) engagements through the Xplore! Nature forest school site, 10,504 (2023/24: 10,648) community outreach deliveries and 12,766 (2023/24: 16,001) through Xplore!’s schools-based programme.
School groups from Foundation Phase to Key Stage 4 have benefited from the provision of a programme of 44 different shows, workshops, and activities during the year. Leisure visitors were offered a variety of shows and demonstrations in addition to access to the interactive exhibition.
## **Plans for future periods**
It is the Charity's intention to continue to use its funds in broadly the same manner with the objective of increasing its market penetration and development to increase visitor numbers. Budget and targets have been drawn in line with the operation of the centre and close monitoring of expenditure will deliver the centre within budget over the next financial year.
The science centre in the heart of Wrexham city centre will continue to be a catalyst for regeneration, promoting community engagement and wider social change. An enhanced programme of community outreach activities, co-created by the audiences they aim to engage, will continue to grow and reach out to historically under-served and under-represented communities in spaces familiar to them, breaking down barriers to STEAM (Science, Technology, Engineering, Arts and Maths) engagement for these groups.
In September 2023, Xplore! announced that it had been successful in securing funding of £1.574m from the UK Government's Shared Prosperity Fund. These funds have allowed allow Xplore! to build for the future and become more sustainable by carrying out redevelopment work on its city centre building with the aim of improving energy efficiency and reducing Xplore!’s carbon footprint with the installation of solar panels and improvements to the roof. The activities were completed by 31 December 2024 and funds have been claimed in arrears at 3 monthly intervals.
## **Auditors and disclosure of information to auditors**
So far as the trustees are aware, there is no relevant audit information (that is, information needed by the company auditor in connection with preparing their report) of which the company's auditors are unaware; and they have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish the company's auditors are aware of that information.
HaysMac LLP is eligible to act, and has been appointed as auditor by the company.
## **Risk management**
The Trustee is responsible for:
· Keeping complete and up to date accounting records which disclose with reasonable accuracy at any time the financial position of the funds held on trust, to enable it to ensure that the accounts comply with the requirements in the Charities Act 2011
· Establishing and monitoring a system of internal control
· Establishing arrangements for the prevention and detection of fraud and corruption.
Internal risks are minimised by the implementation of procedures and systems, which are designed to provide assurance against misstatement or loss and are reviewed periodically. They include:
- Delegation of authority and segregation of duties,
- Authorisation of all transactions and projects,
- Identification and management of risks
## **Principal Risks :**
- Fall in direct funding from Welsh Assembly Government
- Reduction in funding to main clients leading to reduction in fee income
- Increase in the cost of living for family visitors and the insecurity surrounding energy costs for businesses.
The Charity has a risk register which is regularly reviewed by the Board; the latest review formally in June 2025.
The Charity takes advantage of the small companies exemption.
4
## **North Wales Science**
## **Statement of Trustees' responsibilities in respect of the Trustees’ Annual Report and the financial statements**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income and expenditure for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
· assess the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
· state whether applicable UK Accounting Standards and the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements;
· assess the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
· use the going concern basis of accounting unless they either intend to liquidate the charitable company of to cease operations, or have no realistic alternative but to do so.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Signed by and on behalf of the Trustees:
Mrs Leah Maltby (Vice Chair) Date: 28 November 2025
5
## **North Wales Science**
## **Independent auditor’s report to the members of North Wales Science Limited**
## **Opinion**
We have audited the financial statements of North Wales Science Limited for the year ended 31 July 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flow and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 July 2025 and of the charitable company’s net movement in funds, including th
- income and expenditure, for the year then ended;
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees (which includes the strategic report and the directors’ report prepared for the purposes of company law) for th
- financial year for which the financial statements are prepared is consistent with the financial statements; and
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees (which incorporates the strategic report and the directors’ report).
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the charitable company; or
- the charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small
- companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.
## **Responsibilities of trustees for the financial statements**
As explained more fully in the trustees’ responsibilities statement set out on page 5 **,** the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
6
## **North Wales Science**
## **Independent auditor’s report to the members of North Wales Science Limited (Continued)**
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of noncompliance with laws and regulations related to charity and company law applicable in England and Wales,, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011, and consider other factors such as payroll tax and sales tax.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition, in particular income from donations and grants receivable and management override of controls. Audit procedures performed by the engagement team included:
- Inspecting correspondence with regulators and tax authorities;
- Agreeing opening balances to relevant supporting documentation;
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Evaluating management’s controls designed to prevent and detect irregularities;
- Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and
- Challenging assumptions and judgements made by management in their critical accounting estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
**Richard Weaver (Senior Statutory Auditor)**
**for and on behalf of HaysMac LLP, Statutory Auditor** Chartered Accountants 10 Queen Street Place London EC4R 1AG
Date :
7
|**Total Funds for the**|**year ended 31 July**|**2024**|**£**|60,505
95,907|576,795|178,332
250,679
554,961|**1,717,179**|98,542
188,156
544,894
407,214|**1,140,264**|**1,238,806**|162,385|**640,758**|-
640,758
2,210,731|**2,851,489**|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**Total Funds for the**|**year ended 31 July**
**Unrestricted funds**
**Restricted Funds**|**Unrestricted funds**
**Restricted funds**
**2025**
**Prior Year**
**Prior Year**|**£**
**£**
**£**
**£**
**£**|**Income from :**
Other trading activities
2
70,413
-
70,413
60,505
-
Donations
3
101,263
-
101,263
95,907
-|Other income
3
203,814
348,798
552,612
10,497
566,298|**Charitable activities:**
Grants receiveable
3
113,333
-
113,333
178,332
-
Provision of on-site educational services
3
221,037
3,520
224,557
225,930
24,749
Provision of off-site educational services
3
46,010
348,273
394,283
43,876
511,085|**Total**
**755,870**
**700,591**
**1,456,461**
**615,047**
**1,102,132**|**Expenditure on:**
Raising funds
4
104,321
-
104,321
98,542
-
**Charitable activities:**
Provision of on-site educational services
5
165,750
3,520
169,270
163,407
24,749
Provision of off-site educational services
5
62,198
348,274
410,472
33,808
511,085
Core Support
5
437,970
20,978
458,948
305,194
102,020|**Total Charitable activities**
**665,918**
**372,772**
**1,038,690**
**502,409**
**637,855**|**Total**
**770,239**
**372,772**
**1,143,011**
**600,951**
**637,855**|**Exceptional Item**
14
-
-
-
162,385
-|**Net (expenditure) / income**
**(14,369)**
**327,819**
**313,450**
**176,481**
**464,277**|Transfer between funds
457,782
(457,782)
-
(360,619)
360,619
**Net movement in funds**
443,413
(129,963)
313,450
(184,138)
824,896
**Reconciliation of funds:**
**Total funds brought forward**
(248,878)
3,100,367
2,851,489
(64,740)
2,275,471|**Total funds carried forward**
**194,535**
**2,970,404**
**3,164,939**
**(248,878)**
**3,100,367**|The statement incorporates the Income and Expenditure account.|All recognised gains and losses have been included in the Statement of Financial Activities and the amounts included are derived from the continuing activities of North Wales Science.|
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## **North Wales Science**
## **Statement of Cash Flow as at 31 July 2025**
**----- Start of picture text -----**
Restated
2025 2024
£'000 £'000
Cash flow from operating activities
Surplus for the year 313,450 640,758
Adjustment for non-cash items
Depreciation 182,404 99,915
(Increase)/Decrease in stock 145 1,694
(Increase)/Decrease in debtors < 1 Yr 498,005 (448,458)
Increase/(Decrease) in creditors < 1 Yr (403,691) 349,795
Adjustment for investing or financing activities
Capital grant income (564,193) (564,193)
Net cash inflow from operating activities 26,120 79,512
Cash flows from investing activities
Capital grants receipts 564,193 564,193
Payments made to acquire fixed assets (355,329) (713,711)
Net cash inflow/(outflow) from investing activities 208,864 (149,518)
Cash flows from financing activities
- -
Net cash outflow from financing activities
Increase/(Decrease) in cash and cash equivalents in the year 234,984 (70,006)
Cash and cash equivalents at beginning of the year 75,258 145,265
Cash and cash equivalents as at 31 July 310,242 75,258
**----- End of picture text -----**
10
## **North Wales Science**
## **Notes to the financial statements for the year ended 31 July 2025**
## **1 Principal accounting policies**
## **Basis of preparation**
The financial statements are prepared in accordance with the historical cost convention.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK (FRS 102) and the Companies Act 2006.
The accounts include a prior year adjustment to correct the accounting treatment of grant income which had previously been deferred and released over the live of assets acquired with the funding. The grants are now accounted for as income once income recognition criteria are met in line with the Charity SORP. The impact of this adjustment is disclosed in note 16.
The financial statements have been prepared on a going concern basis which the Trustees consider to be appropriate for the following reasons.
The principal activity of the charitable company is the operation of the science discovery centre Xplore!! as part of the group headed by Wrexham University, the ultimate parent company. The charitable company’s cash flows are therefore dependent on the continuation, volume, and pricing of those operations. The parent company's principal purposes and activities are to provide higher and further education and to carry out research and to publish the results.
The charitable company meets its day to day working capital requirements from operational cash flows and an intercompany loan (Note 11) with the parent company Wrexham University.
The trustees have performed a going concern assessment which indicates that, in reasonably possible downsides, the charitable company will require additional funds through funding from its ultimate parent company, Wrexham University, to meet its liabilities as they fall due during the 12 month period from the date of approval of these financial statements, the going concern assessment period.
Wrexham University has indicated its intention to continue to make available such funds as are needed by the charitable company, and that it does not intend to seek repayment of the amounts currently due to the group, which at 31 July 2025 amounted to £410k during the going concern assessment period.The balance relates to cash which has been outlayed on capital and revenue works relating to the Shared Prosperity Fund grant as funding can only be claimed in arrears after the costs have been incurred. This causes additional pressure on the charity's cashflow but the University has been in the position to support this until the grant period ends. Claims are made on a quarterly basis at which point the intercompany loan is repaid. As with any charitable company placing reliance on other group entities for financial support, the trustees acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Consequently, the Trustees are confident that the charitable company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and consequently have prepared the financial statements on a going concern basis.
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. There are no material uncertainties affecting the current year's accounts.
Wrexham University is the parent company of the smallest and largest group of undertakings to consolidate these financial statements at 31 July 2025. The financial statements for Wrexham University are available for scrutiny at Plas Coch Campus, Mold Road, Wrexham, LL11 2AW.
## **Donations, legacies and gifts in kind**
Wherever possible, gifts in kind are valued at a reasonable estimate of their value to the charity.
## **Fees and similar income**
Voluntary income including donations, gifts and grants that provide core funding or are of a general nature are recognised when there is entitlement, certainty of receipt and they can be measured sufficiently reliably.
Income from entrance fees is recognised as earned. Income from the sale of goods or services is credited to the Statement of Financial Activities when the goods or services are supplied to the external customers or the terms of the contract have been satisfied. A debtor is recognised when there is unconditional right to receive future economic benefit from past events. In line with this policy, when courses are delivered across the financial year end, income relating to the future period is deferred to recognise a deferred income creditor. Any remaining debtor balance continues to be recorded in debtors.
## **Revenue grants receivable**
Grants receivable are credited to the statement of financial activities in the year in which they are receivable once relevant conditions of project delivery have been met.
Grants receivable from the Welsh Assembly Government relate to the delivery of activates for primary school age learners, the support engagement of secondary school pupils and increase levels of 'scientific literacy', provision of support and CPD for teachers, promotion of gender equality and encourage girls in the uptake of STEM subjects and targeting of disadvantaged groups.
## **Governmental Capital Grants**
Non-recurrent grants received in respect of the acquisition or construction of fixed assets are recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
11
## **North Wales Science**
## **Notes to the financial statements for the year ended 31 July 2025 (continued)**
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. **Support costs** Support costs comprise the costs of maintenance and the cost of employment of all support staff. **Management and administration costs** Management and administration costs include expenditure on administration of the charitable company and compliance with constitutional and statutory requirements, and an appropriate apportionment of indirect costs, together with the cost of employment of all administration and operational staff. **Governance costs** Governance costs include direct expenditure on external audit services relating to the company's statutory requirements. **Pension costs** The company offers employees' membership of a group stakeholder pension policy administered by Standard Life. **Intangible Fixed Assets** The cost of intangible fixed assets included in the balance sheet is amortised on a straight line basis over its remaining useful economic life to the company as follows: Where parts of a fixed asset have different useful lives, they are accounted for as separate items of fixed assets. Software 5 Years **Tangible Fixed Assets** The cost of tangible fixed assets included in the balance sheet is depreciated on a straight line basis over its remaining useful economic life to the company as follows: Where parts of a fixed asset have different useful lives, they are accounted for as separate items of fixed assets. Buildings 50 Years Equipment 5 Years Where assets are acquired with the aid of specific government grants they are capitalised and depreciated as above. The related grants are credited to a deferred capital grant account and are released to the income and expenditure account over the expected useful economic life of the related asset on a basis consistent with the depreciation policy. Fixtures, fittings and equipment costing less than £10,000 per individual item or group of related items is written off to the income and expenditure account in the period of acquisition. All other fixtures, fittings and equipment is capitalised at cost. **Stock** Stock is stated at the lower of their cost and net realisable value. **Cash and cash equivalents** Cash flows comprise increases or decreases in cash. Cash includes cash in hand, cash at bank and deposits repayable on demand. Deposits are repayable on demand if they are in practice available within 24 hours without penalty. No other investments, however liquid, are included as cash. Liquid resources comprise sums on short-term deposit with recognised banks. They exclude any such assets held as endowment assets. **Financial instruments** The Charity holds only basic financial instruments (trade debtors/creditors, cash etc) and does not recognise any embedded derivatives. The Charity has no loans in place and recognises no other financial instruments which may include embedded derivative. It also holds no forward foreign currency contracts. **Key estimates and uncertainties** Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. Any directly associated deferred capital grant will also be reassessed in line with the asset review.
## **Recognition of liabilities**
Liabilities are recognised when an obligation arises to transfer economic benefits as a result of past transactions or events.
## **Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees/Directors in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the directors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
12
**----- Start of picture text -----**
2024 £ 60,505 60,505 2024 £ 576,795 576,795 2024 £ 95,907 178,332 2024 £ 77,567 173,111 250,679 2024 £ 130,319 424,642 554,961 805,639 805,639
Restricted funds £ - - Restricted funds £ 566,298 566,298 Restricted funds £ - - Restricted funds £ 15,905 8,845 24,749 Restricted funds £ 108,428 402,657 511,085 535,834 535,834
Unrestricted funds £ 60,505 60,505 Unrestricted funds £ 10,497 10,497 Unrestricted funds £ 95,907 178,332 Unrestricted funds £ 61,663 164,267 225,930 Unrestricted funds £ 21,891 21,985 43,876 269,806 269,806
2025 £ 70,413 70,413 2025 £ 552,612 552,612 2025 £ 101,263 113,333 2025 £ 57,631 166,926 224,557 2025 £ 152,020 242,263 394,283 618,840 618,840
Restricted funds £ - - Restricted funds £ 348,798 348,798 Restricted funds £ - - Restricted funds £ - 3,520 3,520 Restricted funds £ 130,464 217,809 348,273 351,793 351,793
Unrestricted funds £ 70,413 70,413 Unrestricted funds £ 203,814 203,814 Unrestricted funds £ 101,263 113,333 Unrestricted funds £ 57,631 163,406 221,037 Unrestricted funds £ 21,556 24,454 46,010 267,047 267,047
Notes to the financial statements for the year ended 31 July 2025 (continued) 2 Other trading activities Shop and café 3 Other Income Other Charitable activities a) Income donations and legacies Donations Grants receivable Donations includes a gross figure of £101,263 (£95,907 in 23/24) which represents a donation of services in respect of support costs (estates costs, management, support and facilities) during the year. The costs are based on reasoned estimates of the market value if the services were obtained externally. b) Income from other charitable activities Provision of on-site educational services: Inreach Education Inreach Public Provision of off-site educational services: Outreach Education Outreach Public Total Total
**----- End of picture text -----**
**----- Start of picture text -----**
2024 £ 42,753 55,789 98,542 2024 £ 101,126 87,030 402,824 142,070 407,214 1,140,264 2024 £ 451,160 8,338 248,244 707,742
£ £ £
Restricted Shop and café - - - Support and governance costs 7,841 13,505 365,993 86,395 102,020 575,754 Restricted 352,080 - 223,675 575,754
£
Restricted
-
Staff costs 1,003 2,399 36,664 22,033 62,100
Unrestricted Shop and café £ 42,753 55,789 98,542 Support and governance costs £ 33,756 19,883 (10,896) (2,876) 92,121 131,987 Unrestricted £ 99,080 8,338 24,570 131,987
£
Unrestricted
Staff costs 58,526 51,243 11,063 36,517 213,073 370,422
2025 £ 41,032 63,289 104,321 2025 £ 90,777 78,494 229,152 181,319 458,947 1,038,689 2025 £ 503,702 11,025 84,632 599,359
£ £ £
Restricted Shop and café - - - Support and governance costs 2,875 - 186,571 115,593 11,399 316,438 323951.31 Restricted 248,338 - 68,102 316,440
Restricted
645 -
31,238 14,871 9,579 56,333
#REF!
Staff costs
Unrestricted Shop and café £ 41,032 63,289 104,321 Support and governance costs £ 27,103 18,295 (1,146) 5,409 233,258 282,919 0 Unrestricted £ 255,364 11,025 16,530 282,919
Unrestricted
60,154 60,199 12,489 45,446 204,711 382,999
#REF!
Staff costs
Notes to the financial statements for the year ended 31 July 2025 (continued) 4 Cost of raising funds Materials Staff costs Total cost of raising funds 5 Expenditure on charitable activities Provision of on-site educational services InReach - Public InReach - Education Provision of off-site educational services OutReach - Public OutReach - Education Core Support Total Core costs includes a gross figure of £101,263 (£95,907 in 23/24) which represents a donation of services in respect of support costs (estates costs, management, support and facilities) during the year. The costs are based on reasoned estimates of the market value if the services were obtained externally. Support and governance costs Office costs External Audit Professional & consultancy costs
**----- End of picture text -----**
|**Notes to the financial statements for the year ended 31 July 2025 (continued)**|**6 Employee information**
**2025**
**2024**|The average monthly number of persons (full time equivalent) employed by the charity during the year was:
Operational
19
19|**Unrestricted**
**Restricted**
**2025**
**Unrestricted**
**Restricted**
**2024**|**£**
**£**
**£**
**£**
**£**
**£**|**Staff costs**
Wages and salaries
427,019
53,460
480,479
393,687
60,233
453,920
Social security costs
20,345
2,374
22,719
25,479
1,638
27,117
Other pension costs
7,437
499
7,936
7,045
230
7,274|**454,801**
**56,333**
**511,134**
**426,211**
**62,100**
**488,311**|#REF!|No one employee received remuneration greater than £60,000 in the year.|**Directors /Trustees remuneration**|No directors/trustees received any remuneration or reimbursement of expenses during the year in relation to their qualifying services to the company.|**7 Taxation**|The charity is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading|activities carried on in furtherance of the charity's primary objectives if these profits and surpluses are applied solely for charitable purposes.|The charity is registered for VAT.|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
## **North Wales Science**
## **Notes to the financial statements for the year ended 31 July 2025 (continued)**
## **8 Intangible Assets**
|**Cost**
At 1 August 2024
Additions
Transfers
Disposals
**At 31 July 2025**
**Amortisation**
At 1 August 2024
Charge for the year
Transfers
Disposals
**At 31 July 2025**
**Net book value**
**At 31 July 2025**
**At 31 July 2024**|**Unrestricted**
**Software**
**£**
-
-
-
-
**-**
-
-
-
-
**-**
**-**
**-**|**Restricted**
**Software**
**£**
-
24,791
-
**24,791**
-
6,611
-
-
**6,611**
**18,180**
**-**|**Total**
**£**
-
-
24,791
-
**24,791**
-
6,611
-
-
**6,611**
**18,180**
**-**|
|---|---|---|---|
Annual Report and Financial Statements
||**Total**|||||**£**||3,272,162|355,329|(24,792)|-|3,602,699||(427,749)
(175,793)
-|(603,542)|**2,999,157**|**2,844,413**|**Total**||**£**|2,558,451
713,711
-
-|3,272,162||(327,834)
(99,915)
-|(427,749)|**2,844,413**|**2,230,617**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||**Equipment**|||||**£**||320,589|123,600|-|-|444,189||(256,238)
(77,818)
-|(334,056)|**110,133**|**64,351**|**Equipment**||**£**|320,589
-
-
-|320,589||(201,080)
(55,158)
-|(256,238)|**64,351**|**119,509**|
|**Restricted**|**Land and**||**Buildings**|||**£**||2,237,862|225,449|688,919|-|3,152,230||(171,511)
(97,975)
-|(269,486)|**2,882,744**|**2,066,351**|**Land and**
**Restricted**|**Buildings**
**£**||2,237,862
-
-
-|2,237,862||(126,754)
(44,757)
-|(171,511)|**2,066,351**|**2,111,108**|
||**Assets in the**||**Course of**||**Construction**|**£**||713,711|6,280|(713,711)|-|6,280||-
-
-|-|**6,280**|**713,711**|**Assets in the**|**Course of**|**Construction**
**£**|-
713,711
-
-|713,711||-
-
-|-|**713,711**|**-**|
||**Equipment**|||||**£**||-|-|-|-|-||-
-
-|-|**-**|**-**|**Equipment**||**£**|-
-
-
-|-||-
-
-|-|**-**|**-**|
|**9 Fixed Assets - Year Ending 31 July 2025**
**Unrestricted**|**Assets in the**
**Land and**||**Course of**
**Buildings**||**Construction**|**£**
**£**|**Cost**|At 01 August 2024
-
-|Additions for the year
-
-|Transfers from AIC
-|Disposals
-
-|At 31 July 2025
-
-|**Accumulated Depreciation**
At 01 August 2024
-
-
Charge for the year
-
-
Disposals
-
-||At 31 July 2025
-
-|**Net book value**
**At 31 July 2025**
**-**
**-**|**At 01 August 2024**
**-**
**-**|**9 Fixed Assets - Year Ending 31 July 2024**
**Assets in the**
**Land and**
**Unrestricted**|**Course of**
**Construction**
**Buildings**
**£**
**£**||**Cost**
At 01 August 2023
-
-
Additions for the year
-
-
Transfers from AIC
-
Disposals
-
-|At 31 July 2024
-
-|**Accumulated Depreciation**
At 01 August 2023
-
-
Charge for the year
-
-
Disposals
-
-||At 31 July 2024
-
-|**Net book value**
**At 31 July 2024**
**-**
**-**|**At 01 August 2023**
**-**
**-**|
|**Notes to the financial statements for the year ended 31 July 2025 (continued)**|**10 Stocks and work in progress**
**Unrestricted**
**Restricted**
**2025**
**Unrestricted**
**Restricted**
**2024**|**£**
**£**
**£**
**£**
**£**
**£**||Goods for resale
16,171
-
**16,171**
16,316
**16,316**|The value of stock is not materially different to its replacement cost.
**11 Debtors**
**Unrestricted**
**Restricted**
**2025**
**Unrestricted**
**Restricted**
**2024**
**£**
**£**
**£**
**£**
**£**
**£**||Trade debtors
37,699
2,552
40,251
49,255
18,207
67,462|Bad debt provision
(768)
-
(768)
(4,092)
(142)
(4,234)|Other debtors
16,914
20,096
37,010
14,740
504,827
519,567|Amount owed by parent company
738
-
738
-
-
-|Prepayments and accrued income
13,043
-
13,043
5,484
-
5,484||67,626
22,648
**90,274**
65,387
522,892
**588,279**|**12 Creditors: amounts falling due within one year**
**Unrestricted**
**Restricted**
**2025**
**Unrestricted**
**Restricted**
**2024**
**£**
**£**
**£**
**£**
**£**
**£**||Trade creditors
35,520
51,532
87,052
19,795
50,567
70,362|Taxation and social security costs
27,251
20,508
47,759
15,018
8,236
23,254|Amount owed to parent company*
-
-
-
409,637
-
409,637|Accruals and deferred income**
32,782
99,301
132,083
49,061
117,837
166,898|Holiday pay accrual
2,191
-
2,191
2,625
-
2,625||97,744
171,341
**269,085**
496,136
176,640
**672,776**||*An amount of £nil was forgiven by the parent company Wrexham University during 23/24 (2024: £162,385).|**Deferred income represents income received but not earned as of the year end. Deferred income primarily consists of project and grant income paid in advance prior to performance|obligations being met.|£73,918 of deferred income was carried forward from the prior year ending 31 July 2024 with £62,069 of that balance released in the current financial year ending 31 July 2025 against 7|projects. The remainder of £11,849 was also released against bookings.|£102,613 of income against projects and bookings was deferred in the current financial year ending 31 July 2025.|The balance of deferred income at 31 July 2025 was £102,613 against 12 projects and bookings.. This is split between restricted funds (£96,386) and unrestricted funds (£6,228).|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
**----- Start of picture text -----**
£ 194,535 2,970,404 3,164,939
At 31/07/2025
£ 457,782 (457,782) -
Transfer
Between Funds
£ (14,369) 327,819 313,450 £ (14,369) 327,819 313,450
Funds
in Funds
Net Movement Movement in
£ (248,878) 3,100,367 2,851,489 £ (770,239) (372,772) (1,143,011)
2024/2025 Resources Expended
At 31/07/2024
£ (360,619) 360,619 - £ 755,870 700,591 1,456,461
Transfer Incoming Resources
Between Funds
£ 176,481 464,277 640,758 £ 176,481 464,277 640,758
Funds Funds
Movement in
Net Movement in
£ (64,740) 2,275,471 2,210,732 2023/2024 £ (600,951) (637,855) (1,238,806)
At 01/08/2023 Resources Expended
Incoming Resources £ 777,432 1,102,132 1,879,564
The total amount guaranteed as at 31st July 2025 was £2. 14 Movement of Funds Unrestricted Funds Restricted Funds Total Funds All funds are held to further the Charity's principle activities of the operation of the science discovery centre Xplore! The majority of restricted funds held relate to grant funded projects the largest being the Inspiring Science Fund which was a grant awarded by the Wellcome Trust in 2019. The purpose of the grant was to create an exciting STEM experience sat the ‘Heart of the Community’ of North Wales and North West England, by bringing positive socio- economic change to people and their communities through innovative, solution focused, co-created STEM engagement. The main restriction on these funds relates to the Minimum Approved Usage Period. This is the minimum period for which the property occupied by Xplore! must be used as per the funding agreement (8 years from completion date). Note that in 2024/25 £nil (2024: £162,385) of the inter-entity loan was forgiven by the parent Wrexham University. In 2023/24 this was included in the Unrestricted Incoming Resource figure of £777,432 in the net movement of funds below. Net movement in funds, included in the above are as follows: Unrestricted Funds Restricted Funds Total Funds
**----- End of picture text -----**
## **North Wales Science**
## **Notes to the financial statements for the year ended 31 July 2025 (continued)**
|**15 Net Assets**
Non-Current Assets
Net Current Liabilities
Non-Current Liabilities
**Balances at 31 July 2025**
Non-Current Assets
Net Current Liabilities
Non-Current Liabilities
**Balances at 31 July 2024**|**Unrestricted**
**Restricted**
**Total**
**£**
**£**
**£**
-
3,017,337
3,017,337
199,909
(52,307)
147,602
-
-
-|
|---|---|
||**199,909**
**2,965,030**
**3,164,939**
**Unrestricted**
**Restricted**
**Total**
**£**
**£**
**£**
-
2,844,413
2,844,413
(398,398)
405,474
7,076
-
-
-|
||**(398,398)**
**3,249,887**
**2,851,489**|
20
## **North Wales Science**
**Notes to the financial statements for the year ended 31 July 2025 (continued)**
## **16 Related party transactions**
North Wales Science's parent company is Wrexham University and the trading between these parties in this period is as below:
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|Sales to Wrexham University :|5,500|32,053|
|Purchases from Wrexham University :|-|-|
|Donated Services from Wrexham University|101,263|95,907|
|Exceptional Items - Loan Forgiveness|-|-|
Due to the nature of the North Wales Science's operations and the composition of the Board of Governors being drawn from local public and private sector organisations, transactions may take place with organisations in which a member of the Board of Governors may have an interest. No Board member has received any remuneration/waived payments from the group during the year (2024 - none).
All transactions involving organisations in which a member of the Board, their closely related family members or dependants may have an interest are conducted at arm's length and in accordance with the parent company's financial regulations and normal procurement procedures. All members of the Board of Governors and senior post-holders are required annually to declare any interests and disclose all related party transactions, where appropriate.
Included within the financial statements are the following transactions with related parties :
||||**Income**|**Expenditure**|**Balance**|
|---|---|---|---|---|---|
|**Organisation**|**Individual**|**Position**|**£'000**|**£'000**|**£'000**|
|Wrexham University|Lynda Powell|Director|5.5|0.0|0.0|
|Wrexham County Borough Council|Nigel Williams|Councillor|5.8|0.3|0.0|
|Ysgol Clywedog|Professor Anne|Governor|(0.3)|0.0|0.0|
||Nortcliffe|||||
Wrexham University is the ultimate parent and the only entity to consolidate North Wales Science financial statements. The financial statements of Wrexham University are available for scrutiny at Plas Coch Campus, Mold Road, Wrexham, LL11 2AW.
## **17 Capital Commitments**
|Capital Commitments|**2025**
**£'000**
652
**652**|**2024**
**£'000**
-
**-**|
|---|---|---|
21