THF. CENIARTH FOIINI)ATION
REPORT AND FINANCIAL STATEIMENTS
Year F.nded
30th SEPTEMBER 2024

THE CENIARTH FOUNDATION
CONTENTS
Page
Trustees Annual Report
Independent Examiner's Report
Statement of Financial Activities
BAlance Sheet
Notes to the Financial Statements
7-11

TIIE CENIARTH FOUNDATION
TRUSTEES ANNUAL REPORT
for the Year Ended .30th Se
tember 2024
The tnJsie¢s prcsent their re￿rt and the financial statements of the charity AOT th¢ year endcd 30th
September 2024.
REFERENCE AND ADMINlSiTRATIVE INFORMATION
Charity Iyame
'rhe Ceniarth 14oundation
Charity Registratton Number
IlJ2.313
Correspondcnee and Operntional Address
Ccniarth, Uwchvgarreg, Machynlleth, Powys. SY20 8RR
Trllqt
Ihe tn￿tteS who served the charity during the year and subsequently are as follows .
Ms D S Isenberg
Mr G A Neichin
Aeeountants
Major and Evan4 Bull House, 15 Penrallt Street, MachJlllletK PowJ"s. SY20 8AG
Bankers
I riodos BanL Deanery Road. Bristol. BS15AS
Solicitors
Thomsnn Snell & Passmore, 3 Lon8dale Gardens, 'lunbridge Wells, Kent. "IN I I NX

THE CENIARTH FOUNDATION
TRUSTEES ANNUAL REPORT
for the Year EndL,d 30th .Se
tember 2024
ettrtinxed
Structurery governance and management
The charity is a trust creatcd by a Charitable Tn￿l Deed on 5th May 2005.
The trusl deed provides for a minimum of two and a rnaximum of six trnstees.
The trusle¢s annually review the risks that the chirity taces.
Objeetives and activities for the public benefit
The objects of the Trust are :_
the reliet of poverty, sickness, distress and suffering ITR any part of the world.
the advancemenL of public cducation about the nature causes and effects of poverty. sickncss,
distress and suffering and the problems of economic and sotyial development in the 'l'hird World
and An partiLular the problems and social (￿d economic injustices arising from national and
international trading practices.
tht general benetit ofthe public in the counties of .Powys and Ceredigi(pn, and
suLh other charitable purpo.ses as the Trustees may in their absolute discretion decide.
In cxercising their powers the tn￿te¢S have complied with their duty to have due regard to the
guidance on public benefit published by the Charity Conunission.
Financial R¢view
The Trust is entirely rel1¢￿t on income and invcstnient returns from its endowment and I￿S been
abl¢ to continue its charitable activities through grant making Io <ippropriate organisations. Pull
delails are shown in the ,%tatement of Financial Activities.
"I'he majorit! of the Foundation's endowment is invested in a well-diversified porttolio of public
equitics, tixed income and alternative assets and a large proportion is held in simple. intercst bearing
bank accounts.
The trustees have agrecd that Ihe Foundation's endowment should be invested in a manner thal is
aligned wÈth its mission and values 8lld will make every effort to avoid investtnents that are counter
to this intent.

THE CENIARTH FOUNDATION
TRUSTEES ANNUAL REPORT
for the Year Ended 30th Se
tember 2024
Trustees, re$ponsibilities JD relation to the financial statements
"Ile law applicable to charities in England and Wales requircs thc trustcc(8) to prepare
financial statements for c￿h financial year which gTiV¢ a true and fair view of the charity's
financial activities during ihe ye&ir and (y.f ils financial position at the end lif the year. In
preparing Fu]ancial 8tatements giving a true and fair view, the trustees should t"ollow best
practice and:
.8elect suitable accounting policies and then apply them consistcntly"
makc judgernents and estimates that are rcasonable and prudcnt;
stste whether applicable accounting slandari£8 and statemeiits of reconunended
practiLe have been followed. subject to ally departures disclosed and explained in
Ihe fmancial statcments. and.
pr¢pare ihe financial statements on the going concern basis unless it is inapprnpriate to
pre8ume Ihat the ch￿lty wilj continu¢ in operatio
'I'he trust¢¢s are responsible for keeping proper accounting records which disclo.%e with reasonable
accuracy the financial position of the charity and which enablc them to asLertain the firmncial
ysition of the clwity and which enable thcm to ensure that the financial statenients comply with
the Chariiies Act 2011, the Charity (Accounts and Reports) R¢gulations 2008 and thc provisions of
the trust deed. The trust¢¢s are rcsponsible for safeguarding the assets of the charity and hence for
taking reasonabl¢ steps for the prevention and detection of fraud and other irregularitiL'%.
Approved by the trustees on . . . .
14 July 2025
. and signed on their behalf by".
Mr G A Ncicknn
Truste¢

INDEPENDEIYT EXAMINER'S REPORT TO THE TRUSTEES OF
THE CENIARTH FOUNDATION
for the Year Ended 30th Se
tember 2024
I report on the accounts ot'the trnst for the year ended 30th SeptembeT ?024, which are set out on pagcs
5t0 11.
Respective Responsibilities of Trustees and Examiner
'rhe charity's tnjstees are responsible for the preparation of the aL"counts. The chatiiy's truste¢s consider
tbat an audit is not required for this y¢ar under section 144{2) of thc Charities Act 2011 (the 201 l Acl) and
that an independent examination is needed.
It is my responsibility to .
cxamine th¢ accounts under scction 145 of the 2011 Act .
to follow the procedures laid down in the gencral Directions giien by the Charity Comrnission
under section 145(5)(b) of the 2011 Act ' and
to stale whether particular matters have comc to my attention.
Basis of Independent Examiner's Report
My cxamination was carried out in accordance with the general Dir¢Gtions given hy the Charity
Commission. An cxamination includes a review of the accouzTrting records kcpt by the charity and a
compari%on of the accounts presented with those record8. li also includes consideration of any un￿gua1
items or disclosure.8 in the accounts, and seeking explanations from you as trustees concerning any such
matters. 'I"he procedures undertaken do not provide all the evidence that would be required in an ￿dit
and consequently no opinion is given as to whether the accounts present a 'true and faiT view, and the
report is limited to tho.8e rnatters set out in the statement below.
Independent Examiner's Statement
In connection with my examination, no matter h&8 come to my attention '.
(l ) which givcs me reasonable causc to believe that in any material respect the requirenients ,
to keep accounting re￿rdS in accordance wtth section 130 of the 2011 ALt' and
to prepare accounts which accord with the accounting records and comply wlth the accountirfftg
requirements of the 201 l Act
have not been met ' or
(2) to which, in my opiniou attention should be drawn in order to enable a propcr underst(mdiiig of the
accounts be rcached.
R W Evans Bsc Econ(Hons). FCCA
Major and Evans,
Charter¢d CertÉfied Accountants,
Bull House,
15 Penrallt StreeL
Machynlleth,
P0￿YS.
Date .

THE CFNIARTH FOUNDATION
STATLMENT OF FINANCIAV. ACTIVITIF.S
for the Year Ended 30th Se
tember 2024
Unrestrietcd Endowment
funds
funds
Total
funds
2023
funds
2024
Notes
INCOME
Investmcnt income
67,080
67.080
44,094
TOTAL
67,080
67,080
44,094
F,XPENDTTURE
Charil<ible activities
()ther costs
112.000
1,152
1,152
1,152
TOTAL
1,152
1,152
113,152
NET INCOMEI(EXPENDITURE)
65,928
65,928
(69,058)
Transfers belwecn funds
Otber recognised gains #nd losses
Realised and unrealised gains/(losses)
on investment assets
705,640
705,640
307,596
Nef movemenl infynds
65,928
705,640
771,568
238,538
Keeoncili&tion of Fund.8
Total tunds brouLht forward
5,154,.5.56
5,154,556
4.916,018
Toralfunds earriedforward
65,928
5,860.196
5,926.124
5,154,556

TIIE CENIARTH FOUNDATION
BALANCE SHEET
as at 30th Se
tember 2024
2024
2023
Notes
FIXED ASSETS
Investments
4,275,808
3,550.791
CURRENT ASSFTS
Debtors
C&sh at bank
10
13,823
1,639,949
1,653,772
10,750
1,595.319
1,606.069
CREDITORS . Amounts falling due
Ivithin one year
11
3,456
2,304
NET CURRENT ASSETS
1,650.316
1,603.765
TOTAL NF.T ASSETS
5,926,124
5.154,556
REPRESE.NTFD BY .
Unregtricted liund
Endowment Funds
12
12
65,928
5,860,196
5,154,556
TOTAL CHARITY FUNDS
5,926,124
5,154,556
notes L)n pages 7 to I I fom) part ot. these financial stat¢ments.
14 July 2025
These r￿CIal statements were approved by the trustces on ...................
signed on their behalf by .
.and
Ms D S Isenbcrg
Trustee

THE CENIARTH FOUNDATION
NOTES TO THE FINANC'IAL STATEMENTS
for the Year Ended 31hh Se
tember 2024
I. Accounting Policies
In preparinLY the accounts the following accounting policies have been complied with:
a) I"he accounts have been prepared under the historical cost convention, with items recognised
at cost ur transaction valu¢ unless otherwise ststed in the ielevant notes, and in aLcordance witb
FRS 102, 'The Financial Reporting Standard applicabl¢ in the UK and the RepublAC of Ir¢land',
the Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK amd Republic of Ireland
(FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
The Trust meets the definition oI'a public benefit elltity under fRS 102.
b) The accounts are prepared in sterling, which is the functional currency of the entity.
c) Ther¢ are no n]aierial uncertainties aboui the charity's ability to continue.
d} InvcstLnent income is recorded whcn reccivable.
e) Expendxture on grants is recorded once the Trust has mad¢ an unconditional commitment to
pay the grant and this is communicated to the beneficiary or the grant has been paid, whichever
is Lhe earlier. The TTUSt has not made any grant commitments of more than one year.
Other expenditur¢ is included in the accounts on an accruals basis. Irrecoverable VAT is
chargyed to the SOFA as incurred.
g) Assets, liabilities, revenues and costs expressed in foreign currencies are translated into
sterling at rate% of exchange ruling on the date on which tran%actions othur excepi for
monetary assets and liabilities whkch are translated at the rate ruling at the balance
sheet date. Differences arising on the translation of such items are dealt with in the SOFA.
h) Investments held as fixed assets are stated at market value at the balance %heet date. The
statement of fmtmcial activities include% the net gaiTLS and losses arising on revaluations and
disposals throughout the year.
i) The endowinent of the charity is expendable cndowment. The trust deed allows this fund
to bc spent as income or retained as capital at the trustees. discretion. Thc incomc
aribing from the cxpcndable endowment is unrestricted.

THE CENIARTH FOUNDATION
NOTES TO THE FINANCIAL SI'ATEMENT4)
for the Year Ended 30th Se
tember 2024
2. Taxation
The "I'rust is a registered charity and accordingly is cxempt from tsxation on its income and
gains where they ar¢ applied for charAtable pulposes.
3. Investment Intome has arisen as follows .
2024
2023
Interest on cash deposits
Invcstrnciit income distributions
47,703
19,377
30,785
13,309
67,080
44,094
4. Related Party Transactions
None of the trustees were paid any remuneration or expenses by the charity during the yeaT
(2023 none).
5. Staff Co.$t8 and .F'moluments
No salaries or wages have been paid to e￿plOyces, includingy Ihe trustees during the year
(2023 none).

THE CENIARTH FOUNDATION
NOTF,S TO THE FINANCJAL STATEMENTS
for the Year Lnded 30th Se
tcmber 2024
6. Charitable Activities
The charity undertakes its charitsble activiti¢s through grant m¢iking3 and awarded granLs to
the followillg organisations ill furtherance of its" charitdble aL'tivities .
2024
Purple Shoots
Traidcraft Exchange
Advice Mid Wales
i 00,000
12,000
112,000
7. Other Costs
2023
Accountsncy
Bank Charg¢s
1,152
1,15?
1,1)?
1,152
8. Transfers between Funds
Fund8 from the expendable endowment have been transferred to cover the shorilall on the
unrestricted fund.

THE CEI¥IARTII FOUNDATIO
NOTES TO THE FINANCIAI. STATEMENT,
for the Year Ended 30th Se
temb r 2024
9. Fixed asset Investmcnts
Moi'ement in fixed asset investments
21124
2023
Market value brought forward at 1st October 2023
Add = distributions accumulated
Le5b . net profiV(loss) on revaluation
3,550,791
19,377
705,640
3,229,886
13,309
307,596
Market value at 30th Septembcr 2024
4,27i,808
3,550,791
Investments at market value comprised ..
Cost
2024
2023
unitslshares
• 5,340 Generation TM Global
F,quity A shares
521,557 Threadneedle UK Social Bond
Fund Institutional Gross
Accumulation
886,354
3,562,369
2,895,714
600,000
713,439
655,077
1,486,354
4,275,808
3,550,791
Cost
2024
2023
+ 'l'his investment is denominated in
US Dollars
,500,000
4,772,077
J,532,596
10. Debtors
2024
2023
Accrued bank deposit interest
13,823
10,750
io-

THE CENIARTH FOUNDATION
NOTES TO THK FINANCIAL STATEMEIYTS
for the Year Ended 30th S¢
tember 2024
I l. Creditors .' amounts falling due within one year
2024
2023
Accruals
3,456
12. An21ysi8 of Fund Assets and .Liabilities
Unrestricted Endowment
funds
funds
Total
F ixed assets
Current as8ets
Current liabilities
4,275,808
1,587,844
(3.456)
4,275,808
1,653,772
(3,456)
65,928
Total
65,928
5,860,196
5,926,124
The unrestricted funds of the charity may be applied for any charitable Purpose at the discretion ot
the tNstees.
The expendable endowment <￿d addition% thereto are to be invebt¢d and the inc'ome used for any
charitable purpose at the discretion of the trustees. The expendable endowment rnay al80 be 8pent
at the absolute discretion of the trustees.