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← Seren Ffestiniog Cyf.

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 03596581 (Wales) REGISTERED CHARITY NUMBER: 1108461

Report of the Trustees and

Financial Statements for the Year Ended 31st March 2025

for

Seren Ffestiniog Cyf Trading as Grwp Seren

Seren Ffestiniog Cyf Trading as Grwp Seren

Contents of the Financial Statements for the Year Ended 31st March 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 7
Report of the Independent Auditors 8 to 10
Primary Consolidated Schedules
-
Statement of Financial Activities
11
-
Balance Sheet		 12
-
Cash Flow Statement		 13
-
Notes to the Cash Flow Statement		 14
Primary Charity Statements
-
Statement of Financial Activities
15
-
Balance Sheet		 16
-
Cash Flow Statement		 17
-
Notes to the Cash Flow Statement		 18
Notes to the Financial Statements 16 to 36

Seren Ffestiniog Cyf Trading as Grwp Seren

Reference and Administrative Details for the Year Ended 31st March 2025

TRUSTEES A L Ellis
E J Lewis
Mrs M A Williams
Ms R E Morgan
W A Evans
M Jones
COMPANY SECRETARY
REGISTERED OFFICE Unit 2 Llwyngell
Blaenau Ffestiniog
Gwynedd
LL41 3NE
REGISTERED COMPANY 03596581 (Wales)
NUMBER
REGISTERED CHARITY 1108461
NUMBER
AUDITORS A.Hughes-Jones, Dyson & Co.
Statutory Auditor
Chartered Accountants
Capel Moreia
South Penrallt
Caernarfon
Gwynedd
LL55 1NS
BANKERS HSBC PLC
62 Stryd Fawr
Porthmadog
Gwynedd
LL49 9LN

Page 1

Seren Ffestiniog Cyf Trading as Grwp Seren

Report of the Trustees for the Year Ended 31st 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 31st March 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES Objectives and aims

Serene Ffestiniog Cyf

The company's objectives are:

To promote such general charitable purposes for the benefit of people with learning and other difficulties in Gwynedd and the surrounding area as the trustees see fit from time to time including, but not limited to the foregoing by: providing relief from financial hardship and/or economic disadvantage, advancing education and relieving unemployment; and in particular providing opportunities for the aforementioned persons to participate fully in the life of their community in ways which address and alleviate social and economic disadvantage; and to develop their capacity and skills in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.

Gwesty Seren

Gwesty Seren, a three-star hotel, was established in 2015. It offers respite care under an accessible-holiday model, open both to people with mobility needs and to general visitors to the area. We run our weekly club from this location and hold a range of community events during the year for our individuals and their families.

Through all our activities, we currently support around 70 individuals and are very proud to employ four individuals on competitive salaries as part of our staff team, representing 5% of the workforce with a total of 17 % of all employees identifying as disabled under the Equality Act definition.

Significant activities

Seren Cyf is a charity based in Blaenau Ffestiniog that provides care and support services, including supported-living schemes for adults with complex needs such as autism, epilepsy, Down’s syndrome, cerebral palsy and learning difficulties, mainly within the Gwynedd area.

The charity was founded in 1996 by a visionary individual together with key managers who realised a dream to develop a holistic service to improve the lives of clients and strengthen the local community.

Over the years, continued investment has allowed us to expand our provision, and Seren now offers domiciliary and respite care as well as enrichment activities that also provide employment opportunities for clients within our Day Care services. The company’s ethos remains centred on improving the local community — a principle at the heart of our most recent initiatives.

Our Day Care provision includes a local shop known as Harods, selling a variety of new items from clothing to home goods; a furniture centre offering both new and second-hand items; clothing-collection and recycling projects; Cymorth Seren, which provides a sales, rental and maintenance service for mobility equipment; Caffi Seren at the Glaslyn Leisure Centre, Porthmadog; and also Gerddi ‘Stiniog Gardens’ in Llan Ffestiniog.

As part of our investment, Gwesty Seren, a three-star hotel, was established in 2015. It offers respite care under an accessible-holiday model, open both to people with mobility needs and to general visitors to the area. We run our weekly club from this location and hold a range of community events during the year for our individuals and their families.

We have exciting ideas for further development, though realising them will depend on securing grant investment — projects we would then be able to sustain independently.

Through all our activities, we currently support around 70 individuals and are very proud to employ four individuals on competitive salaries as part of our staff team — representing 5% of the workforce — with a total of 17 % of all employees identifying as disabled under the Equality Act definition.

Public benefit

The trustees confirm that they have complied with their duty as laid in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidelines published by the Charity Commission. Through the implementation of the above mentioned objectives and aims, we respond to the needs of our service users as well as the wider community.

Page 2

Seren Ffestiniog Cyf Trading as Grwp Seren

Report of the Trustees for the Year Ended 31st March 2025

STRATEGIC REPORT

Achievements and performance Charitable activities

GRANTS Grants are a vital part of funding improvements to Seren’s services. During 2024/25, Seren received the following grants:

-Boccia Equipment Actif North Wales

-Boccia Referee Training - Disability Sports Wales

-Partial support for developing the Gwesty Seren Website - Cyngor Gwynedd Recharge Scheme

-Secure bike storage and garden furniture - Welsh Government

-Removal of invasive species, construction of a lookout hide and pond, and path improvements - Eryri National Park -Training Gwaith Gwynedd

-Specialist Care Course - remainder of previous year’s grant application - PACT North Wales Police

-Equipment for the Sensory Room - National Lottery, Engie, and Adra

-Variety of sports equipment and tandem bicycle - SPF Byw’n Iach

-Beehive and specialist clothing - Transport for Wales Conwy Valley and North Wales Coast

-Energy Efficiency Report for Gwesty Seren - WCVA

SERVICES

The year began on a very positive note as we received our Care Inspectorate Wales (CIW) report, which rated us as Excellent across all their measures - Wellbeing, Care and Support, and Leadership and Management. Everyone at Seren was extremely proud of this outcome, as it placed us among the best providers in all of Wales.

We saw further growth within our Care provision, particularly in Domiciliary Care, as we gained a couple of new houses in our area and supported one of our individuals to move. Our staffing profile is now well balanced for the needs of the organisation, with the vast majority of staff working within Care, as would be expected. We aim to maintain 110% staffing levels in Care to ensure full cover during holidays, sickness, and other absences.

Our Employability Service at Caffi Seren, located in Glaslyn Leisure Centre, Porthmadog, continues to go from strength to strength. We now employ three individuals there as members of Seren’s staff, with two of them currently working towards an NVQ qualification as part of their role.

The café remains a continuing success story - we welcome familiar faces each week as loyal customers. We also host a monthly Boccia group and, once again this year, had the honour of hosting their Christmas event. We have developed a strong business relationship providing external catering for events organised by Byw’n Iach and other departments of the local Council, depending on the size of the orders, through either the Café or the Hotel.

We continue to collaborate with Coleg Meirion-Dwyfor to provide training in various areas, including work skills and independent living, as well as creative, performing and therapeutic skills. Cooking and gardening classes remain particularly popular among our participants. As part of our Cylch yr Efail Day Service, these activities are offered alongside wellbeing and personal-development sessions, which are also highly valued.

We also arrange educational courses, and several individuals have achieved recognised qualifications in areas such as First Aid, Portable Appliance Testing (PAT), Health and Safety, and Food Hygiene.

Through Harods, where furniture, household goods, and clothing (both new and second-hand) are sold, we offer work experience opportunities that teach customer service skills, how to handle enquiries, take payments, and answer phone calls. We employ one individual who assists with delivering and collecting furniture, and we have seen tremendous improvement in their skills since starting this role.

As the Cymorth Seren name and service have become more well-known, the project has grown significantly. The maintenance and testing work keeps the team busy, while the equipment is sold from our Harods location. This remains a community-focused service, and the equipment-hire element works especially well in partnership with the Hotel, allowing us to meet the needs of visitors staying there or of customers requiring temporary adaptations — for example, following surgery. We continue to build the business, which includes carrying out PAT and LOLER testing for local businesses and residential homes that use lifting and handling equipment, as well as sales through Harods.

As part of this service, we were delighted to secure a contract with the Council to hire and maintain wheelchairs across our area.

Our Creu department offers further opportunities for production — including printing designs on clothing and other items, as well as making bath and body products. Our products are available online and at specialist fairs, particularly around Christmas time. This year, we exhibited at Portmeirion, Glynllifon, Caernarfon Airport, Llan Ffestiniog, and at Hafod Lon and Pendalar schools.

Page 3

Seren Ffestiniog Cyf Trading as Grwp Seren

Report of the Trustees for the Year Ended 31st March 2025

The Gardens now supply plants, vegetables, eggs, and firewood, with plans to expand the range over time. Following the addition of a beehive, we expect the bees to become fully established before we begin extracting honey for sale, ensuring this is done sustainably and without harming the colony.

The opportunities for our individuals to socialise with customers, learn new and transferable skills, and contribute to the work are invaluable.

The standard of the Gardens has continued to rise following the 'Prosiect Pum Mil' investment. This year we constructed a wildlife pond and a 'Cwt Sbecian' (Observation Hide), designed for observing wildlife. It was built using timber from a Larch tree that had fallen nearby, cut into live-edge planks about five metres away. We also cleared the equivalent of 25 box van loads of invasive species - mainly rhododendrons and Japanese knotweed - and developed meandering footpaths between the Hotel and the Gardens.

We successfully tendered for a Town Council contract to maintain public green spaces, creating valuable new opportunities for our individuals. Over time, we hope to employ more individuals in formal posts as the Gardens become increasingly cost-effective.

We were extremely proud to win the CLAS Award for 'Community-Managed Green Space' from Social Farms and Gardens this year. We have several developmental ideas in progress, including efforts to make the Gardens as selfsustaining as possible through environmental and green-energy methods.

Our staff continue to work towards achieving the sales and performance targets that have been set to ensure our businesses remain viable. The intention is to reinvest profits into the business side and enable the charity to grow further.

We have seen growth in the number of individuals we support across our day-care, domiciliary, and respite Services. The pattern among staff remains mixed with both men and women seeking part-time work across a range of ages. This healthy mix creates a diverse, balanced team that reflects wider society and offers enriching opportunities for our individuals.

Staff training continues to be a major investment to ensure we deliver the best service possible. Once again, this year, Seren staff have received training above the minimum standards set by Social Care Wales. Following a successful grant application, we invested in more specialised training, including courses in Prince2, Microsoft packages, skills development, IOSH, NEBOSH, and WAMITAB. Two members of staff were supported to complete a beekeeping course, enabling them to share knowledge with individuals who have shown an interest in learning more. Another staff member was supported to train as a Yoga instructor for people with special needs, recognising how much our individuals enjoy their weekly yoga sessions.

We continue to hold Individual and Parent Forums to gather feedback and ensure our services meet the needs of our clients. These sessions are vital, as they help us plan how individuals wish to spend their time - such as trips and activities. Seren individuals took part in a 'Strictly Come Dancing' event which was a huge success, and of course, the Pantomime remains an annual favourite for both staff and individuals alike, as does the Christmas Lunch, another much-anticipated highlight of the year.

We continue to focus on improving our systems and policies, ensuring everything we operate is bilingual and compliant with our Welsh Language Commitment (Cynnig Cymraeg).

We have improved our staff benefits, upgrading our Healthshield coverage to Level 2, and have introduced both a Cycle to Work scheme and a Computer Purchase Plan through the workplace.

These initiatives form part of our broader Health and Wellbeing Strategy, developed in partnership with Cwmni Bro to support the overall wellbeing of our workforce. As part of this, we offered wellbeing training and appointed a Wellbeing Champion through RCS, with quarterly development sessions. We also made better use of the BreatheHR system, now featuring company announcements and a •'kudos'• space to recognise outstanding staff contributions. We believe these developments have contributed to the continued increase in staff completing surveys this year.

Seren was nominated and won the Employer of the Year category, sponsored by Coleg Cymraeg Cenedlaethol through Grwp Llandrillo-Menai, for our support of bilingual staff. We also received a Prestige Award for ''•Non-Profit Organisation of the Year- Disability''• for the second consecutive year. Each award means a great deal to us, as they show that others recognise our hard work and dedication as a team.

We continue progressing towards being fully bilingual in every aspect of our work, internal, administrative, and publicfacing. Our ongoing improvements have helped us maintain our ISO 9001 quality certification once again this year.

The Hotel continues to provide numerous opportunities, offering work experience in hospitality and catering for our individuals. This includes both front- and back-of-house tasks such as cooking, serving food, reception work, and cleaning bedrooms, en suite bathrooms, and public areas.

Page 4

Seren Ffestiniog Cyf Trading as Grwp Seren

Report of the Trustees for the Year Ended 31st March 2025

Gwesty Seren reached the final round of the ''Go Visit Wales'' and ''Diversity and Inclusion'' awards for accessibility - and this was achieved before our latest investments, so we are optimistic for further success in future competitions. We recruited a new Hotel Manager during the year, who now coordinates the running of the Hotel alongside the daycare provision there.

Towards the end of the financial year, we focused on renovating all the bedrooms, particularly those on the first floor. We used the same colour scheme throughout for consistency, and the feedback has been overwhelmingly positive. Our aim is to ensure that the Hotel offers the same level of luxury in every room while providing accessible holidays for people with mobility needs and supporting individuals with learning or physical disabilities.

We provided respite care in the form of holidays for several individuals with learning and/or physical disabilities during the year. Feedback has been excellent, as these opportunities and experiences are truly unique.

Financial review

Reserves policy

It is the view of the trustees that sufficient reserves should be maintained to enable Seren Ffestiniog Cyf's charitable activities to continue for at least 6 months even if all income streams should suddenly end.This would in our view provide sufficient time for those who rely on our services to find replacement support services should a worse case scenario occur. The trustees therefore consider £1,000,000 to be an appropriate level of reserves to cover it's expenditure for 6 months.

Future plans

We would like to continue to grow our domiciliary provision in our area - Dwyfor and Meirionydd Areas - should opportunities arise and also our day care provision. We have identified an increase in complex and challenging behaviours which we will need to strategically plan for - coming through education at the moment, these needs will become apparent in a few years as pupils become Adults needing support and we must be ready for this.

Long term strategic plans have been drawn up which include our current areas of provision as well as having identified new possibilities, taking into consideration external factors within the Care industry. During late 2025, we consulted internally with the Management Team, Board Members and also internal staff. The aim during 2026 is to consult externally and to seek funding to realise our areas of major investment.

However, we also recognise the importance of identifying new opportunities as they arise and to adapting to meet unexpected challenges.

2026 is an important year for Seren, representing 30 years since we started offering a provision for Adults with a Learning/Physical Disability. We hope to recognise this milestone with regular celebrations throughout the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The board remained unchanged during this financial year, and it was decided to retain the current number of members for the time being due to their in-depth understanding of the background and current financial challenges with a review in the future should the current levels prove to be too challenging to manage Board decisions effectively.

Page 5

Seren Ffestiniog Cyf Trading as Grwp Seren

Report of the Trustees for the Year Ended 31st March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure

Chief Executive Officer -

Angela Middleton-Jones, appointed on 29/06/22. Angela has worked in the public, private and educational sectors for over 30 years, specialising in HR Management and holds a CIPD professional qualification and membership, together with a NEBOSH qualification in Health and Safety. Angela is listed as Company Secretary and Director for Williams a Williams Cyf and is also a newly appointed as a Board Director for Cymunedoli Cyf

Care Manager -

Aled Williams, appointed on 05/07/21. Aled comes with 30 years of experience in all aspects of Care, mainly but not exclusively in Learning Disability. His initial care experience came from the shop floor and included a period of time as an NVQ Lecturer/Assessor. He progressed into management roles for the Elderly and Dementia Residential and Nursing homes as well as managing community homes for individuals with mental health/learning disabilities and serious challenging behaviours before joining Seren.

Finance Manager -

Guto Evens, appointed on 09/05/22. Guto is professionally qualified and has an experienced background in a privately owned Accountancy Firm of 11 years prior to joining Seren. He brought with him added value to the field of financial accounting and budgeting from the private sector and introduced an in-depth understanding of working accounts which improved day to day business efficiency.

Sales, Business and Marketing Manager -

Sioned Lewis, appointed on 06/01/14. With a degree in Business and Marketing, and having previously worked in the majority of outlets within Seren, this newly developed role has allowed Sioned to bring her previous experience together with her academic background to develop the retail opportunities and enhance trading income.

HR, H&S, Training and Quality Manager -

Joanne Farrington, appointed on 08/03/04 initially in Care at the shop floor, developing into Team Leader, she grew over time to take responsibility for all aspects of the corporate provision. Jo holds professional qualifications in HR having undertaken a CIPD course, as well as a NEBOSH qualification and is the longest serving member of the Management Team with an in-depth knowledge of staff and also the company's history.

Gwesty Seren Hotel Manager

Emma Hyde joined the Seren Group in June 2024 following a career in hospitality and retail. A local resident, she has managed a hotel, pub, and popular restaurant in Maentwrog, overseeing a team of staff before moving into retail. There, she was responsible for providing hot and cold snack services to customers and running a food shop promoting local Welsh produce, something which is very important to her. Under her management, the shop was proud to receive a Shop of Excellence Award.

Key management remuneration

The board consider its key management personnel for the charity to comprise of the trustees, the chief executive officer and the other department heads, as they are responsible for the day to day running of the charity. Total employment benefits, which include employer national insurance and pension contributions, of the key management personnel was £238,681 (2024 £214,953)

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Seren Ffestiniog Cyf for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 6

Seren Ffestiniog Cyf Trading as Grwp Seren

Report of the Trustees for the Year Ended 31st March 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

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 incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, A.Hughes-Jones, Dyson & Co., will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 10th December 2025 and signed on the board's behalf by:

W A Evans - Trustee

Page 7

Report of the Independent Auditors to the Members of Seren Ffestiniog Cyf

Opinion

We have audited the financial statements of Seren Ffestiniog Cyf (the 'charitable parent company') and its subsidiary as part of the consolidated group financial statements for the year ended 31st March 2025 which comprise consolidated and charity Statement of Financial Activities, the consolidated and charity Balance Sheet, the consolidated and charity Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice).

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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:

Page 8

Report of the Independent Auditors to the Members of Seren Ffestiniog Cyf

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and charitable parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the group and parent 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 group and 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.

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the group and parent charitable company and the industry in which it operates. We determined that the the key laws and regulations affecting the company are the Companies Act 2006, UK GAAP, Charities Act 2011 and social care regulations..

We identified that the the greatest audit risk in relation to fraud and error was in relation to revenue recognition. We have assessed that the the risk to the financial statements of being susceptible to material misstatement is low.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud may occur. Audit procedures performed by the engagement team included:

Assessing the design and implementation of management control to prevent and detect fraud; Identifying and testing manual journal entries, in particular entries posted to revenue; Assessing the extent of compliance with laws and regulations.

We made inquiries with management to understand whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. We corroborated the results of our enquiries to supporting documentation such as board minutes.

We have not identified or been advised of actual or suspected fraud or instances of non compliance with key regulations. The experience of the audit team was deemed to be sufficient to identify fraud or errors in this engagement.

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 Report of the Independent Auditors.

Page 9

Report of the Independent Auditors to the Members of Seren Ffestiniog Cyf

Use of our report

This report is made solely to the group and parent 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 auditors' 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.

Brian Hughes (Senior Statutory Auditor) for and on behalf of A.Hughes-Jones, Dyson & Co. Statutory Auditor Chartered Accountants Capel Moreia South Penrallt Caernarfon Gwynedd LL55 1NS

Date: .10[th] December 2025

Page 10

Seren Ffestiniog Cyf Trading as Grwp Seren

Consolidated Statement of Financial Activities

for the Year Ended 31st March 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Provision of care in the community
Gwesty Seren
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Provision of care in the community
Gwesty Seren
Other
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
21
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
4,842
2,490,774
-
145,096
5,527
(4,982)
2,641,257
113,582
2,250,030
-
35,237
2,398,849
242,408
(104,429)
137,979
814,918
952,897		 Restricted
fund
£
-
-
7,045
201,664
-
-
208,709
42,279
-
228,663
17,960
288,902
(80,193)
104,429
24,236
747,471
771,707		 31.3.25
Total
funds
£
4,842
2,490,774
7,045
346,760
5,527
(4,982)
2,849,966
155,861
2,250,030
228,663
53,197
2,687,751
162,215
-
162,215
1,562,389
1,724,604		 31.3.24
Total
funds
£
3,071
1,905,764
-
326,591
3,968
83,739
2,323,133
125,572
1,814,688
210,983
37,384
2,188,627
134,506
-
134,506
1,427,883
1,562,389

The notes form part of these financial statements

Page 11

Seren Ffestiniog Cyf Trading as Grwp Seren

Consolidated Balance Sheet 31st March 2025

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Stocks
15
Debtors
16
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
18
NET ASSETS
FUNDS
21
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
639,310
15,359
127,869
603,015
746,243
(243,850)
502,393
1,141,703
(188,806)
952,897		 Restricted
fund
£
954,170
2,347
15,089
14,845
32,281
(51,707)
(19,426)
934,744
(163,037)
771,707		 31.3.25
Total
funds
£
1,593,480
17,706
142,958
617,860
778,524
(295,557)
482,967
2,076,447
(351,843)
1,724,604
952,897
771,707
1,724,604		 31.3.24
Total
funds
£
1,556,056
21,294
191,963
413,510
626,767
(242,993)
383,774
1,939,830
(377,441)
1,562,389
814,918
747,471
1,562,389

The financial statements were approved by the Board of Trustees and authorised for issue on 10th December 2025 and were signed on its behalf by:

W A Evans - Trustee

The notes form part of these financial statements

Page 12

Seren Ffestiniog Cyf Trading as Grwp Seren

Consolidated Cash Flow Statement for the Year Ended 31st March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.3.25
£
351,257
(33,806)
317,451
(98,765)
3,162
5,527
(90,076)
(23,025)
(23,025)
204,350
413,510
617,860		 31.3.24
£
111,702
(35,775)
75,927
(29,224)
104,943
3,968
79,687
(15,674)
(15,674)
139,940
273,570
413,510

The notes form part of these financial statements

Page 13

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Consolidated Cash Flow Statement

for the Year Ended 31st March 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Loss/(profit) on disposal of fixed assets
Interest received
Interest paid
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by operations
2.
ANALYSIS OF CHANGES IN NET FUNDS		 31.3.25
£
162,215
53,197
4,982
(5,527)
33,806
3,588
50,454
48,542
351,257		 31.3.24
£
134,506
37,384
(83,739)
(3,968)
35,775
(4,191)
(27,838)
23,773
111,702
At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 413,510 204,350 617,860
413,510 204,350 617,860
Debt
Debts falling due within 1 year (18,393) (2,573) (20,966)
Debts falling due after 1 year (377,441) 25,598 (351,843)
(395,834) 23,025 (372,809)
Total 17,676 227,375 **245,051 **

The notes form part of these financial statements

Page 14

Seren Ffestiniog Cyf Trading as Grwp Seren

Charity Statement of Financial Activities for the Year Ended 31st March 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Provision of care in the community
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Provision of care in the community
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 31.3.25
Unrestricted
fund
£
4,842
2,490,774
145,096
5,527
3,018
2,649,257
113,582
2,328,030
35,237
2,476,849
172,408
1,237,577
1,409,985		 31.3.24
Total
funds
£
3,071
1,905,764
134,498
3,968
91,739
2,139,040
87,647
1,858,688
22,293
1,968,628
170,412
1,067,165
1,237,577

The notes form part of these financial statements

Page 15

Seren Ffestiniog Cyf Trading as Grwp Seren

Charity Balance Sheet 31st March 2025

Notes
FIXED ASSETS
Tangible assets
13
Investments
14
CURRENT ASSETS
Stocks
15
Debtors
16
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
18
NET ASSETS
FUNDS
21
Unrestricted funds
TOTAL FUNDS		 31.3.25
Unrestricted
fund
£
639,310
457,088
1,096,398
15,359
127,869
603,015
746,243
(243,850)
502,393
1,598,791
(188,806)
1,409,985
1,409,985
1,409,985		 31.3.24
Total
funds
£
604,219
422,659
1,026,878
18,948
168,798
410,201
597,947
(191,483)
406,464
1,433,342
(195,765)
1,237,577
1,237,577
1,237,577

The financial statements were approved by the Board of Trustees and authorised for issue on 10th December 2025 and were signed on its behalf by:

W A Evans - Trustee

Page 16

Seren Ffestiniog Cyf Trading as Grwp Seren

Charity Cash Flow Statement for the Year Ended 31st March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Investment in group company
Interest received
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.3.25
£
319,672
(16,169)
303,503
(78,472)
3,162
(34,429)
5,527
(104,212)
(6,477)
(6,477)
192,814
410,201
603,015		 31.3.24
£
111,392
(16,800)
94,592
(21,341)
104,943
(39,417)
3,968
48,153
(496)
(496)
142,249
267,952
410,201

Page 17

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Charity Cash Flow Statement for the Year Ended 31st March 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
31.3.25 31.3.24
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 172,408 170,412
Adjustments for:
Depreciation charges 35,237 22,293
Loss/(profit) on disposal of fixed assets 4,982 (83,739)
Interest received (5,527) (3,968)
Interest paid 16,169 16,800
Decrease/(increase) in stocks 3,589 (3,743)
Decrease/(increase) in debtors 40,929 (48,524)
Increase in creditors 51,885 41,861
Net cash provided by operations 319,672 111,392
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 410,201 192,814 603,015
410,201 192,814 603,015
Debt
Debts falling due within 1 year (1,996) (482) (2,478)
Debts falling due after 1 year (195,765) 6,959 (188,806)
(197,761) 6,477 (191,284)
Total 212,440 199,291 411,731

Page 18

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements for the Year Ended 31st March 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain consolidated information about Seren Ffestiniog Cyf and Gwesty Seren as of its incorporation on May 2012.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer 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 resources.

Charitable activities

Charitable activities are recognised on an accruals basis and include expenditure in relation to the charity's projects and both direct and support costs relating to these activities. Expenditure is summarised under functional headings on the direct cost basis.

Governance costs

Governance costs are recognised on an accruals basis and include those costs incurred in the governance of the charity and its assets and are primarily associated with meeting constitutional and statutory requirements but also include other costs where appropriate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Related party exemption

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Page 19

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

1. ACCOUNTING POLICIES - continued

Taxation

Seren Ffestiniog as a charitable company is exempt from corporation tax on income and gains within section 505 of the Taxes Act 1988 and section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable purposes.

Gwesty Seren is subject to corporation tax.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Legal status of the charitable company

The charitable company is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Bank account maintained under contract for the benefit of third parties

The charity has a contract to run the Noddfa and Hafan facilites. As part of the contract bank accounts are maintained by the company for each site. The monies therin are not owned by Seren Ffestiniog Cyf and the accounts are not included withing the financial statements. On the 31st March 2025 the balances held in the accounts were £5,063.91 and £1,508.62.

2. DONATIONS AND LEGACIES Group & Charity

3.

Donations
OTHER TRADING ACTIVITIES
Group
Shop income
Caffi Seren
Gwesty Seren
Other income		 31.3.25
£
4,842
31.3.25
£
88,475
56,621
200,664
1,000
346,760		 31.3.24
£
3,071
31.3.24
£
110,997
23,069
192,093
432
326,591

Page 20

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

4.
5.

6.		 OTHER TRADING ACTIVITIES
Charity
Shop income
Caffi Seren
Other income
INVESTMENT INCOME
Group & Charity
Deposit account interest
INCOME FROM CHARITABLE ACTIVITIES
Group
Activity
Care services
Provision of care in the community
Grants
Provision of care in the community
Supported Living services
Provision of care in the community
Capital grants
Provision of care in the community
Grants
Gwesty Seren
Charity
Activity
Care services
Provision of care in the community
Grants
Provision of care in the community
Supported Living services
Provision of care in the community
Capital grants
Provision of care in the community
RAISING FUNDS
Other trading activities
Group
Opening stock
Purchases
Closing stock
Staff costs
Bad debts
Rent
Other cafe costs		 31.3.25
£
88,475
56,621
-
145,096
31.3.25
£
5,527
31.3.25
£
2,439,492
21,282
-
30,000
7,045
2,497,819
31.3.25
£
2,439,492
21,282
-
30,000
2,490,774
31.3.25
£
21,294
106,493
(17,706)
41,060
2,912
1,500
308
155,861		 31.3.24
£
110,997
23,069
432
134,498
31.3.24
£
3,968
31.3.24
£
1,866,559
22,010
17,195
-
-
1,905,764
31.3.24
£
1,866,559
22,010
17,195
-
1,905,764
31.3.24
£
17,103
98,271
(21,294)
26,201
-
2,122
3,169
125,572

Page 21

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

7.
 Other trading activities
Charity
Opening stock
Purchases
Closing stock
Staff costs
Rent
Other cafe costs
CHARITABLE ACTIVITIES COSTS
Group
Provision of care in the community
Gwesty Seren
Charity
Provision of care in the community		 Direct
Costs
£
2,214,403
200,634
2,415,037
Direct
Costs
£
2,292,403		 31.3.25
£
18,948
67,125
(15,359)
41,060
1,500
308
113,582
Support
costs (see
note 8)
£
35,627
28,029
63,656
Support
costs (see
note 8)
£
35,627		 31.3.24
£
15,205
59,898
(18,948)
26,201
2,122
3,169
87,647
Totals
£
2,250,030
228,663
2,478,693
Totals
£
2,328,030

Page 22

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

8. SUPPORT COSTS Group

Management
£
Provision of care in the community
9,507
Gwesty Seren
2,843
12,350
Charity
Management
£
Provision of care in the community
9,507		 Governance
Finance
costs
£
£
20,920
5,200
21,286
3,900
42,206
9,100
Finance
costs
£
£
20,920
5,200		 Totals
£
35,627
28,029
63,656
Totals
£
35,627

9. NET INCOME/(EXPENDITURE) Group

Net income/(expenditure) is stated after charging/(crediting):

31.3.25 31.3.24
£ £
Auditors' remuneration 9,100 8,900
Depreciation - owned assets 53,197 37,384
Hire of plant and machinery - 4,218
(Deficit)/surplus on disposal of fixed assets 4,982 (83,739)
Charity
Net income/(expenditure) is stated after charging/(crediting):
31.3.25 31.3.24
£ £
Auditors' remuneration 5,200 5,000
Depreciation - owned assets 35,237 22,293
Hire of plant and machinery - 4,218
(Deficit)/surplus on disposal of fixed assets 4,982 (83,739)

10. TRUSTEES' REMUNERATION AND BENEFITS

Group & charity

There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.

11.
STAFF COSTS
Group
Wages and salaries
Social security costs
Other pension costs		 31.3.25
£
1,945,643
158,991
35,608
2,140,242		 31.3.24
£
1,551,187
124,735
29,382
1,705,304

continued...

Page 23

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

STAFF COSTS (continued) Group

The average monthly number of employees during the year was as follows:

Management
Other
Gwesty Management
Gwesty other
No employees received emoluments in excess of £60,000.
Charity
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management
Other		 31.3.25
5
64
1
4
74
31.3.25
£
1,843,747
156,217
33,949
2,033,913
31.3.25
5
64
69		 31.3.24
5
52
1
5
63
31.3.24
£
1,462,772
123,546
28,245
1,614,563
31.3.24
5
52
57

No employees received emoluments in excess of £60,000.

continued...

Page 24

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Group
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3,071
Charitable activities
Provision of care in the community
1,905,764
Other trading activities
134,498
Investment income
3,968
Other income
83,739
Total
2,131,040
EXPENDITURE ON
Raising funds
87,647
Charitable activities
Provision of care in the community
1,814,688
Gwesty Seren
-
Other
22,293
Total
1,924,628
NET INCOME/(EXPENDITURE)
206,412
Transfers between funds
(75,417)
Net movement in funds
130,995
RECONCILIATION OF FUNDS
Total funds brought forward
683,923
TOTAL FUNDS CARRIED FORWARD
814,918
Restricted
fund
£
-
-
192,093
-
-
192,093
37,925
-
210,983
15,091
263,999
(71,906)
75,417
3,511
743,960
747,471		 Total
funds
£
3,071
1,905,764
326,591
3,968
83,739
2,323,133
125,572
1,814,688
210,983
37,384
2,188,627
134,506
-
134,506
1,427,883
1,562,389

Page 25

continued...

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Charity
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Provision of care in the community
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Provision of care in the community
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
3,071
1,905,764
134,498
3,968
91,739
2,139,040
87,647
1,858,688
22,293
1,968,628
170,412
1,067,165
1,237,577

Page 26

continued...

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

13. TANGIBLE FIXED ASSETS Group

COST
At 1st April 2024
Additions
Disposals
At 31st March 2025
DEPRECIATION
At 1st April 2024
Charge for year
Eliminated on disposal
At 31st March 2025
NET BOOK VALUE
At 31st March 2025
At 31st March 2024
COST
At 1st April 2024
Additions
Disposals
At 31st March 2025
DEPRECIATION
At 1st April 2024
Charge for year
Eliminated on disposal
At 31st March 2025
NET BOOK VALUE
At 31st March 2025
At 31st March 2024		 Fixtures
and
fittings
£
60,438
21,505
-
81,943
48,371
6,714
-
55,085
26,858
12,067		 Freehold
property
£
1,001,893
-
-
1,001,893
285,482
10,791
-
296,273
705,620
716,411
Motor
vehicles
£
70,008
38,245
(34,490)
73,763
48,611
12,832
(26,346)
35,097
38,666
21,397		 Improvements
to
property
£
905,142
-
-
905,142
127,804
8,935
-
136,739
768,403
777,338
Computer
equipment
£
48,151
2,646
-
50,797
40,039
2,505
-
42,544
8,253
8,112		 Plant and
machinery
£
71,170
36,369
-
107,539
50,439
11,420
-
61,859
45,680
20,731
Totals
£
2,156,802
98,765
(34,490)
2,221,077
600,746
53,197
(26,346)
627,597
1,593,480
1,556,056

continued...

Page 27

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

13. TANGIBLE FIXED ASSETS (continued) Charity

COST
At 1st April 2024
Additions
Disposals
At 31st March 2025
DEPRECIATION
At 1st April 2024
Charge for year
Eliminated on disposal
At 31st March 2025
NET BOOK VALUE
At 31st March 2025
At 31st March 2024
COST
At 1st April 2024
Additions
Disposals
At 31st March 2025
DEPRECIATION
At 1st April 2024
Charge for year
Eliminated on disposal
At 31st March 2025
NET BOOK VALUE
At 31st March 2025
At 31st March 2024		 Fixtures
and
fittings
£
20,289
5,100
-
25,389
20,248
1,028
-
21,276
4,113
41		 Improvements
Freehold
to
Plant and
property
property
machinery
£
£
£
765,448
102,676
58,780
-
-
32,481
-
-
-
765,448
102,676
91,261
264,066
38,327
45,305
9,159
1,430
9,191
-
-
-
273,225
39,757
54,496
492,223
62,919
36,765
501,382
64,349
13,475
Motor
Computer
vehicles
equipment
Totals
£
£
£
67,925
28,852
1,043,970
38,245
2,646
78,472
(34,490)
-
(34,490)
71,680
31,498
1,087,952
47,381
24,424
439,751
12,661
1,768
35,237
(26,346)
-
(26,346)
33,696
26,192
448,642
37,984
5,306
639,310
20,544
4,428
604,219

continued...

Page 28

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

14. FIXED ASSET INVESTMENTS
Charity
Loans
At 1st April 2024
New in year
At 31st March 2025		 31.3.25
31.3.24
£
£
457,088
422,659
Loans to
group
undertakings
£
422,659
34,429
457,088

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Gwesty Seren

Registered office: Unit 2 Llwyngell Industrial Estate, Blaenau Ffestiniog, Gwynedd, LL41 3NE Nature of business: Hotel

Aggregate capital and reserves
Loss for the year		 31.3.25
£
(333,873)
(6,922)		 31.3.24
£
(326,951)
(26,582)

The investment is held as a programme related investment for it's surplus funds, one which has been agreed by the board to advance the objectives of the charity through the support of the aligned services offered by its subsidiary.

15. STOCKS Group

31.3.25
31.3.24
£
£
Stocks
2,347
2,346
Harrods stock
9,933
14,635
Other trading stock
5,426
4,313
17,706
21,294
Charity
31.3.25
31.3.24
£
£
Harrods stock
9,933
14,635
Other trading stock
5,426
4,313
15,359
18,948

continued...

Page 29

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

16.


17.


18.

 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
31.3.25
£
Trade debtors
122,201
Other debtors
5,045
VAT
1,449
Prepayments
14,263
142,958
Charity
31.3.25
£
Trade debtors
113,606
Other debtors
-
Prepayments
14,263
127,869
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
31.3.25
£
Bank loans and overdrafts (see note 18)
20,966
Trade creditors
74,961
Social security and other taxes
42,918
VAT
3,937
Other creditors
143,680
Accruals and deferred income
-
Accrued expenses
9,095
295,557
Charity
31.3.25
£
Bank loans and overdrafts (see note 19)
2,478
Trade creditors
57,331
Social security and other taxes
41,343
VAT
3,937
Other creditors
137,065
Accrued expenses
1,696
243,850
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group
31.3.25
£
Bank loans (see note 19)
351,843
Charity
31.3.25
£
Bank loans (see note 19)
188,806		 31.3.24
£
158,989
11,888
-
21,086
191,963
31.3.24
£
141,705
11,888
15,205
168,798
31.3.24
£
18,393
34,619
43,815
6,807
119,629
2,000
17,730
242,993
31.3.24
£
1,996
24,710
40,467
5,487
114,022
4,801
191,483
31.3.24
£
377,441
31.3.24
£
195,765

continued...

Page 30

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

19.
20.


 LOANS
Group
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 years by instalments
Charity
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank Loan
Amounts falling between one and two years:
Bank loans – 1-2 years
Amounts falling due between two and five years:
Bank loans 2-5 years
Amounts falling due in more than 5 years
Repayable by instalments
Bank loans more than 5 years






SECURED DEBTS
Group
The following secured debts are included within creditors:
Bank loans
Charity
The following secured debts are included within creditors:
Bank loans		 31.3.25
31.3.24
£
£
20,966
18,393
22,835
20,169
81,464
72,974
247,544
284,298
31.3.25
£
2,478
2,662
9,236
176,908
31.3.24
£
1,996
2,145
7,440
186,180
31.3.25
31.3.24
£
£
372,809
395,834
31.3.25
31.3.24
£
£
191,284
197,761

continued...

Page 31

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

20. SECURED DEBTS -continued

HSBC Bank PLC

Legal mortgage over the freehold property known as land and buildings lying to the north of Dorvil street, Blaenau Ffestiniog-HM Land Registry title WA567730

Unity Trust Bank PLC

Legal mortgage over the freehold property known as 17 Church street, Blaenau Ffestiniog, LL41 3HB - HM Land Registry Title number WA629517

Legal mortgage over the freehold property known as Units 1 & 2 Llwyngell Enterprise Park, Blaenau Ffestiniog, LL41 3HT - HM Land Registry Title number CYM378420.

21. MOVEMENT IN FUNDS Group

Unrestricted funds
General fund
Restricted funds
Gwesty Seren
TOTAL FUNDS
Net movement in funds, included in the above ar
Unrestricted funds
General fund
Restricted funds
Gwesty Seren
TOTAL FUNDS		 At 1.4.24
£
814,918
747,471
1,562,389
e as follows:		 Net
movement
in funds
£
242,408
(80,193)
162,215
Incoming
resources
£
2,641,257
208,709
2,849,966		 Transfers
between
funds
£
(104,429)
104,429
-
Resources
expended
£
(2,398,849)
(288,902)
(2,687,751)		 At
31.3.25
£
952,897
771,707
1,724,604
Movement
in funds
£
242,408
(80,193)
162,215

continued...

Page 32

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

21. MOVEMENT IN FUNDS -continued Group

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Gwesty Seren
TOTAL FUNDS		 At 1.4.23
£
683,923
743,960
1,427,883		 Net
movement
in funds
£
206,412
(71,906)
134,506		 Transfers
between
funds
£
(75,417)
75,417
-		 At
31.3.24
£
814,918
747,471
1,562,389

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Gwesty Seren
TOTAL FUNDS		 Incoming
resources
£
2,131,040
192,093
2,323,133		 Resources
expended
£
(1,924,628)
(263,999)
(2,188,627)		 Movement
in funds
£
206,412
(71,906)
134,506

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Gwesty Seren
TOTAL FUNDS		 At 1.4.23
£
683,923
743,960
1,427,883		 Net
movement
in funds
£
448,820
(152,099)
296,721		 Transfers
between
funds
£
(179,846)
179,846
-		 At
31.3.25
£
952,897
771,707
1,724,604

continued...

Page 33

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

21. MOVEMENT IN FUNDS - continued

Group

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Gwesty Seren
TOTAL FUNDS
Charity
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
4,772,297
400,802
5,173,099
At 1.4.24
£
1,237,577
1,237,577
Incoming
resources
£
2,649,257
2,649,257
At 1.4.23
£
1,067,165
1,067,165		 Resources
expended
£
(4,323,477)
(552,901)
(4,876,378)
Net
movement
in funds
£
172,408
172,408
Resources
expended
£
(2,476,849)
(2,476,849)
Net
movement
in funds
£
170,412
170,412		 Movement
in funds
£
448,820
(152,099)
296,721
At
31.3.25
£
1,409,985
1,409,985
Movement
in funds
£
172,408
172,408
At
31.3.24
£
1,237,577
1,237,577

continued...

Page 34

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

21. MOVEMENT IN FUNDS - continued Charity

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
2,139,040
2,139,040		 Resources
expended
£
(1,968,628)
(1,968,628)		 Movement
in funds
£
170,412
170,412

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.23
£
1,067,165
1,067,165		 Net
movement
in funds
£
342,820
342,820		 At
31.3.25
£
1,409,985
1,409,985

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
4,788,297
4,788,297		 Resources
expended
£
(4,445,477)
(4,445,477)		 Movement
in funds
£
342,820
342,820

22. RELATED PARTY DISCLOSURES

Williams & Williams Cyf

Angela Middleton-Jones the chief executive officer is a director and company secretary for a business which is owned by her husband. Seren Cyf makes use of the company's services on normal commercial terms.The total paid to the company in the year ended 31st march 2025 was £1,284 (2024 £1,780)

Page 35

continued...

Seren Ffestiniog Cyf Trading as Grwp Seren

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

23. POST BALANCE SHEET EVENTS

New Contracts

The company has been awarded a direct award contract to provide care for an individual requiring emergency placement. Seren also successfully secured a tender for a new supported living scheme late 2024 which was due to commence in early 2025. However there were significant delays with property snagging lists. Seren finally received the keys to the property late November 2025 with a view to finally welcoming the new tenants in January 2026.

During 2025, one of our supported living arrangement contracts came to an end having identified that this provision no longer remained viable for the individual who required a different level of care.

In the meantime, we have successfully secured a tender for another supported living scheme late 2025 and also hope to commence this arrangement in early 2026. The scheme will provide supported living care for three individuals over a minimum period of three years, with an optional extension of an additional two years

This page does not form part of the statutory financial statements

Page 36