COMPANY REGISTRATION NUMBER.- 039q8116
CHARITY REGISTRATION NUMBER.. 1115229
Tir Coed
Company Limited by Guarantee
Unaudited Financial Statements
31 October 2023
PJE ACCOUNTANTS & ADVISORS
Chartered accountants
23 CoSlege Steet
Lampeter
SA48 7DY

Tlr Coed
Company Llmited by Guarantee
Flnanclal Statements
Year ended 31 Oclober 2023
Page
Trustees, annual report (incorporallng Ihe dlreclor's report}
Independent examiner's report to the trustees
statement of financial activities (including income and
expenditure acGount)
statement of financlal poslllon
10
11
statement of cash flows
13
Notes to Ihe financial statements
14

Tlr Coed
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng the Dlrector's Report)
Year ended 31 October 2023
Tho trustees, who arè also Iho dlreclor8 for Ihg purposes ol company law. presont th¢lr report and thè
naudltEd flnanclal stalements ol the Ghailty for the year Ended 31 Octobei 2023.
Reference and administrativ8 d8tai15
Reglstered charlty name
Tir Coed
Charity reglstratlon nurnbor
If15229
Company reglslratlon number 03918116
Principal oflica and regi5t8r8d Unit 6G
offl¢e
Science Park
C8fn Lla
Llanbadarn Fawr
Aberystwylh
SY23 3AH
The truslees
L Sharland- Deputy Chalrperson
(Jolnt Chalr from 25110120231
A L Prylherch- D8puly Chairp8rson
lJolnl Chair from 25110120231
AWells- ChaiFp8rson
R L15ter
T Binding
K M GBMmill
M E Evan5
S A Glnley
H L Wllcox Brooke
G H Evans
R D Thomas
Resign8d 25 Octobei 20231
(Reslgned 25 O¢lob8r 20231
(Resigned g January 2023}
(Appointed 11 July 20231
(Appolnled 7 June 20231
Company secretary
Helen G81hln - Co-CEOIH8ad of Flnance
Ind6p&ndent •xamln8r
Heidi Hughes ACCA
23 College Steel
L8mpetèr
SA48 7DY

Tir Coed
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Roport)
Year ended 31 October 2023
stru¢ture. governance and marhagement
Governlng Dtscumant
Tir Coed is a company limited by gu8rante8. Incorporated on the 2nd ol February. 2000. Tlr Coed
was reg15teied 8s a charity on the 11th ol July. 2006. In the event of the Company being wound up
members are required to ¢ontribule an arnount nol exceeding £10.
R8cru5trn8nt and Appolntment of TrustO•S
The dlrectors ol the company are also Charity Trustees for Ihe purpos&s ol charily law and under the
companys Articles are known as"Trustee5 New Trustees are Appolnted by the Board ol Trustees on
the basis of Iheii skills and experlence in relatlon to the ¢harily's objectives. These appoinlm8nts are
ratified by memb8rs al Ihe AGM. The Board has the power lo appoint addltional Trustees as It
considers fil lo do so. Under the requ1remenls of the Memorandum and Articles of Association on8
Ihlrd ol the members ol the Trustees are required lo retire in rotation at ev8ry AGM.
Due to the nature of the chaTIIy's work - promotlng the provlslon of woodland-relaled 183rning and
wellbeing aclivitles and facilllies In Ihe interests ol health and social w8lfar8. for the education of
individual8 in rural Wa188
Truste8s have b8en sought from a bioad rangè of organlsallons.
representing the lllnd-based, health and social sectors, in order to bring a variety ol oxpertise to th
lable.
In the event of a partlcular sklll being losl due to retlremenls, individuals ar9 approached lo offer
Ihemsglves lor ele¢lion lo th8 Board of Trustees. In this way the professional needs of the
organisation and the chaiilable oblecls are achleved.
Trustee's Induc¢lon and Tralnlng
New Trustees are glven the followlng inloimallon..
Memorandum & Ariic188 of Associ8tion of Tlr Coed..
CC3 Responsibilities of Gharlly Trustees:
Mlnutes ol previous AGM.,
Minutes of previous Tru5tees' tneellngs",
Latest progress reporis, Including financlal reports.,
Tru$te8 indu¢lion pack
Agre8ment to volunteei at least 12 hours lo the charity quarterly
Rlsk Managemen¢
The malor risks lo whSch the ¢harily is exposed, as identif18d by th8 Trustees. are being con5ideied
and a RSsk Register has b88n established to mitig818 against Ihose risks. Internal Gonlrol rlsks a
minimi5ed by Ihe Itnplementallon ol procedures for authorisalion of all transactions and projects.
Procedures are In place to ensure compliance wilh health and safety of staff, volunteers and members
of the public.
Organlsatlonal Structure
The Board of Trustees has 6-12 members who meet on a 3-monthly basis. or at mor8 Irequ8nt
Intervals as deemed ne¢8ssary. At presenl the Board has 7 rnernber5 from a variety ol prolesslonal
backgrounds r818vant to the work of the ¢harlly.
Staff

Tir Coed
Company Llmited by Guarantee
Trustees. Annual Report {Incorporating the Director's Report) (G¢￿11￿t￿
Year ended 31 October 2023
Over the ¢our88 ol th8 ygar. Tlr Cogd ernployed 42 individuals in 30 organlsailonal roles, all 8xcept
one part-time.. a CO-CEO leatn. Heads ol ComtnunlGallon5 & Development, Finan¢e and Opèralions,
an A¢creditalion and Learning ManageT, a Trainin9 and Accredllalion Coordln8lor, 8 x Pro19￿county
Coordinator8, 8 VoluDte8r Coordinator. a Finance Coordinator. a Markeling and Admln Officer, 4 x
Prolecvcounly Mentors, A Ilull tlmel Rank Time lo Shlne Intem, 9 x Aclivily Leaders and a number of
Short-term carpentry traittges who unéertook Iralneeships in Elan Valley. Senior staff metnbers have
iespoTrsiblllty for the day-to-day runnlng of Tlr Coed. as well as the monltoring of a11 grant slreams, in
¢onsultalion with and und8r lh8 sup8rvision of Iho Chairperson. Th8 Chief Executive Otrieers are
fosporTrsiblc for the line management of Tir Coed's project and d8partTnenlal lead5, who In turn Ilne
manage staff, as well as ensurlng Ihal the team continues lo d8velop ils skills and working practices in
lin9 wllh good pracll¢8.
Tru5teps and lunders are sent quarterly piogres5 reports. in thg foim ol new51ollors, vla e-mall.
Trustees exl¥nd their gratitude to all tho staff for the%r energy and cornmitment and for developing a
strong t8atn 61hos whlch has enabled graal progress to be made In lulfilllng the obleclives of fir Coed.
Llne management meetings are tarried out at 3-rnonlh tnlerv81s. QT more frgqil8nlly if rooulrgd, wilh
full perfoTmance reviews held annually.
ObjgCtIV85 and actlvltl85
Tir Coed has referred lo the guidance contalned th8 Ch81ily Corntnlssion's geneial guidance on
public b8nefit whèn Fevi6Mng our aims and ot4ectlves and In plannlng our future aclivltles. In
particular. the Truslees consider how planned activities wlll contribute lo lh8 aim8 and objo¢bves Ihey
have s81.
ThB Chaiiws 0bJ'ec15 are the advancempnt ol Bdu¢alltsn In woodland-related $k￿l$- and to develop,
promole and encourdge th8 provision of woodland-rela18d facllili@s, in the IntBresls of heBllh Bnd
SOCi81 weware. for thB education and recreallon of IndI￿dual5 rural Wales whn have need of such
facilitles by reason of their youth, age, menlal or physi¢al disabllity, financlal h8rdshlp or social
clrcum81gnce5. With the object of improving Iheir conditions of lrfe.

Tir Coed
Company Llmlted by Guarantee
Trustees. Annual R¢port Iln¢orporatlng the Director's Report) {tontlnutd)
Year ended 31 October 2023
Achlav¢mpnt5 and porforman¢è
2023 was a Iranslormalivg year for Tir C08d. marked by a Ih8tne of r88ili8nce, innovation and Impact.
Reflecllng on the year, the narfallve unlolds as one ol growih, suc¢ess and a dedi¢aled ¢ommilm8nt
to embedding learning in to the heart ol our operations. The seeds of our efforts have blossotned into
thriving landscape of accomplishment5 spann1ng four counties as we rolled out our AnTlr projecl
across Carmarthenshire, Ceredigion, Pembrokeshir& and Powys. Tho Ihome of growih not only
defines our traje¢lory bul also shap&s our ViSK)n to me8l the 8volving social and 8nvironmental needs
of the present and future as we conllnue to connect people wilh land and woods In a meaningful and
purposeful way.
Acioss all of our projects this year. we have deliVe￿d 930 sesslons for learnlng and wellbein9 and
have engaged with 2,188 Indlvldual$ In 20,511 hours of actlvity. We hav8 connected rnore people
with a wid8r rang8 of gre8n spaces and I8aTning opptsrtunlilas than Over before.
77Vo ol Iralnees galned accredllallon
80Y4 01 Iralnees mentored progressed onlo employment. self-ernployment. training or volunteeTing
Learnlng Impact5
A lolal 01521 individuals allendgd cours8s and gained a Tlr Coed certificate and of those 105
achieved accredilalion via Agored Cytnru. The majority ol tralnees used electroni¢ tablets lo document
evldence ol their learning in our digital workbooks. Trainees expressed a sense of pride in thelr
rnp18t8d workbooks, aclively taking ownership ol thelr learnlng and reflectin9 on theSr
8ccomp1ishments. T¥alnees have developed skills and gaingd knowledge whilg parti¢ipatin9 in over
14,373 hour$ of learning.
Wellbelng
We delivered 198 wallb8ing s8ssions to 1,667 people who enjoyed 6,138 hours eng8ging wilh nature
and trying their hand al somelhlng new. We also dellvered a range ol interesting and innovative
actlvilies, such as foresl bathing. whittling workshops, willow weaving, tr8e planting, making home5 foT
w¢ldlif8, Outdoor cooking. foraging. forest advenluie. outdoor carpentry. ecological surveys and
orchard skllls.
Green Space Improvement
Throughout our ouldooi loeatlons, a total of 55 slru¢tvres were built, encompassing a mix of
subslanllal and supplementary inslallalions aimed at improving facilitie5 and acces5ibilily. These
included rebullding a roun(Shouse and conslru¢ling seating benches, pi¢nic tables. $hav8 horsfys, pole
lathes and raised beds. Additionally, we managed 14 acres of land and woodland for the benefit of
wildli18 and people. rnaintained or established 170 meters of pathways and planted 3.315 trees.
More Informatlon and lestlmonlals from pat11cSpanls Can b8 found in our di9ital Imp8Ct R8POrt
hltpsJladobe.ly14f7bpZP
11 AnTlr Project
With substantial support Irom Natur81 Rasource5 Wales INRWI fundlng, we suc￿$$fullY dellvered the
first full year ol our AnTir Projecl in Pembrokeshire and Carmarth8nshir8 INRW South West Walesl as
well as in C8r&digion and Powys INRW Mid Wales) this yeai. The AnTlr project represents an
expansion beyond our woodland-focused acllvlty to Include wider land-based a¢livity that includes
setling up siles lor food growing. using reg8r18raliv8 pracllces and technlques, dellverlng hortloullural
course5 and engaglng wSth a more diverse audlence to enhance gre8n Spaces for the b8nefil of
wildlife and the community. Our project pul a slrong focus on the wellbelng benefits of spendlng Ilme
in and connecting with nature. We collAborated with communllies to enhance their resilion¢e, ollering

Tlr Coed
Company Limited by Guarantee
Trustees. Annual Report {In¢orporatlng the Dlroctor's Roport) (conllnuddl
Year ended 31 October 2023
Irainino cours8s aimed at honlng the skllls and employabllity ol local people. Thls strategic approach
alms to brlng local people closer lo employm8nl opporlunilies that ¢onlribule m98ningfully to the rural
economy.
We have listened and responded to our community about offerino a wider rangg of land-ba5ed
Courses. With a clear n8ed and detnand lor food growno 8nd Tegeneralive land management
practices. we rolled out our own Sustainable Horticulture course ac¢rediled by Agored Cymru al18V81
2. lollowlng suceesslul pllols over the past 2 yoars. Deliverin9 this 20-week wurse across 811 four
¢OUT)lies lor the first lim8 enab18d us to 5ueeessfully engage with a b¥oader range ol partlcipants (han
ever before.
Working on partner communlty growing sltes. we helped to develop both the consetrvatlon and soclal
values of thelr gardens by Improvlng areas lor biodiversily, installin9 ponds, creating wildlow8r ar88s.
constructlng acoesslble seating, palhways and additional rai88d beds.
Tir Coed is thankful to the followlng funders who granted funds for AnTir Year 1.. Natural Rgsourc8s
Wales- Soulh West Wales
Natural Resourc8s Wal8s- Mid Wa185
291h May 1961 Charitable Trust
Ashley Family Foundation
Carm8rthenshiie Fund
- CAVO
CLA Charitabl8 Trust
Dewl Davies Fund
- Dwr Cymru
G0511ng FoLFndatlon
Hedley Foundatlon
- PAVS
Rank Foundation
Royal Countryside Fund
Sleele Charitable Trusl
Wesleyarn Fund
- Woodroff8 Bornton Foundation
21 Elan Llnks Project D•c•mb•r 2017-2023
Elan Links wa5 a £3 million Landscape Partntrishlp Project between Elan Valley Trust, Dwr Cymru,
CARAD and Tir Coed aiming lo safeguard the unique and special heritage of the Elan V811ey whlle
increasing enjoyment, 8du¢ation, training and recreational oppoilunities for the benefit ol all.
Extended by one year to December 2023 due lo the Covid-19 pandemic, Tir C08d has now deliv8r8d
the majority of its activity for th8 project that b8gaTr in November 2017.
Over the course ol slx year5 Tir Coed ha5 delivered..
11 x 24-day training courses Ihat had a positive irnpact on 86 people'5 Ilves.- 100 bespoke activity
8es510nS to 1.378 harder-lo-reach individuals frotn the local Community. enabllng people to spend lime
outdoors, engage with the area and its natural heritage and gain a nEW appreclalion of thls special
landscape.
Imainly pre-CoMd-191 Delivered ietieat packages to enable 335 people from harder lo
ach groups from the Birmingham area lo connect with the Elan Valley. bre8klng down barriers to
getting into the outd0015. Specifically supporting groups ol people who May not normally visit the
counlry51de but who have links to Elan Valley Ihrough the supply of their w8ter. we provided
lile-changing and life-8nhancing opportunities for people to spend Ilme In nature. 40 nlghts and 52
days weTe spent in the Elan Valley by 23 different groups.

Tlr Coed
Company Limited by Guarantee
Trustees. Annual Report Ilncorporatlng the Dlre¢tor's Report) fconllnued)
Year ended 31 October 2023
Tir Coed warmly welcomed Herilage Lottery Fund funding through the Elan Llnks projgct. which was
match-lunded by the Elan Va118y Trust.
31 Enhanclng P8mbrok•shlre
A grant from the 'EnhancirJg P8mbrok8shire' lund in P8mbroke5hire allowed us to offer a new
programme of eng2gement and training activilies In the county. Beginning in sprin9 2023, we
dellvered a range ol short oourses, volunteering days and bespoke activity session5 to engage local
people and improve the well-being of our cotnTnunity, offsetting the negative impucts of second home
ownership in the county. Engaglng wllh local and young people. we provided them wilh relevant skills
aHd tiainlng ltsr local lobs. rosponding to need in PgmbrokeshI￿ for creating $8lf-suslained and vibianl
cornmunilies.
To dale we have delivgred 7 x 1-week courses. 9 days of volunteering and 7 x bespoke actlvlly
Sgssions, gngaging with 422 local people.
Tlr Coed gralelully recognises the funding rec8ived via Th8 Enhancing P8mbrok8shlre Grant, whlch
forms part ol Pembroke8hir8 County Council 5 regener8tion progr8tnme.
41 Pryd Cerediglon
Tir Coed worked in partn8r8hip with Penparcau Communlty Hub to dellver & food. growing, learning
and volunteering project. Our Volunteer Co-ordinator led efforts to enhance the Hub's community
garden, bringing the community together and gD¢ouraging peop18 to volunteer outdoors to create
green spa¢9$ lor everyone 10 8TijOy.
The local communlly has been key lo the success of this PTOj8Ct, with volktnt8er8 lending thelr hunds
for varied tasks throughout the local area. Including grounds, maintenance at a local care home for
resldenls wlth dementia. whlch contributed lo Ihem being awarded a Gr8en Flag.
Tir Coed acknow18dg&s the lundlng from the Natlonal Lollery Communlty Fund's Awards for All that
enabled this PTojecl to happen.
51 Prlmary Purpose Tradlng
Thls year we have conllnued to reach b8yond our funded WOTk by delivering activity through our
primary purpose Ir8ding to organi5alions, eommunlly oroups and schools. This expansion has allowed
us to share our passltsn and expertise with a wider audience. creale lasting and tneanlnglul
conn8clions and secure grealgr financial su5tainabillly lor Tlr Coed.
61 Wls• Woods Walos: Tlr Coed's soelal •nt•rprlse
Al lh8 2015 AGM the decislon w88 m8de by Ihe board of Trustees to make ihe company dorrnanl.
Th15 remains the cas8.

Tir Coed
Company Llmlted by Guarantee
Trustees. Annual Report {Incorporatlng the Dlrector's Report) (coJ)Ilnu
Year ended 31 October 2023
Flnanclal r&vl6w
Th8 charity's funds hav8 all been 8ppli8d in accordance with its obj8ctlV8s. The charity'5 8ss6ts are all
belng malntained in the furlheran¢e ol these objectives.
Reserves Policy
Thè TruslEes have considered the requirements ol the SORP In vlew of a reserves policy. A Reseryes
Fund has beett established. which equates to the lolal core cost of Tir Coed over three mcnlhs, as
well as the cost ol admlnislerlng a Members, Voluntary Llquidation. The requirements lor the Reserves
Fund based on projected costs is £48,000
Unreslrlcted cash reserves at the end ol Oclober, 2023 stand at £165,306
The Tir Coed Reserves Policy is r8V18wed half y9aTly al th8 Board ol Trusl888 meetittg.
Prlnclpal Fundlng Sourc•s
Fr()m 1st ol Nov8mb8r 2022. Tir Coed b8gan delivering th8 AnTir prol8Ct wlth multlple fundlng
streams, as Ilsled above. They form a restricted ¢ash-flow where money is restricted lo those
purposes approved by the funding organisations. Thg Charity's 5imiled unr88lricted fund5 Include
int8rest.
Invostm•nt Pollcy and Oblectlves
Under the mernor8ndurn and artlcles ol association. the charily has the power to make any
Investments which the Tiuslees see fit. Aside from relaining a prudent aMo￿nI in r888rv8s each year.
the charity's funds are 811 Spent in the short term. There are no funds avallable for long lerm
Investment.
Small company provlslons
Thls report has been prepared In accordance wilh the provlsions applicable lo companies gnti11gd to
th8 srnall compani88 8x8mplion.
The Iruslees, annual report was approv8d on
Iruslges by..
and sign8d on b8haif of the board of
ke
Anna L. Pryiherch IAug
0, 2024 11.'59 GMT+ll
A L Pryih8Tch- Joint Chairp8r8Oll
Trustee
Dale.. 30 August 2024

Tir Coed
Company Limlted by Guarantee
Independent Examlnar's Report to th6 Trustees of Tlr Coed
Year ènded 31 O¢tobgr 2023
I report to Ihe Irustees on my examination of the financial slalemenls ol Tlr Coed I'lhg charity'l for the
year endgd 31 O¢lob&r 2023.
Responslbllltles and basis of report
As the Iruslees of company {and 8180 ils directors for (h8 PUFposes of cornpany lawl you are
responslble for Ihè preparatlon of the finanelal statements in accordance with the requlremenls ol Ihe
Companies Act 20061.lho 2006 Aol'l.
Havlng sat15fied myself that Ihe accounts of Ihe company are not requlred to be audilecf under Part 16
of the 2006 A¢1 and are eligible for independgnt examination, 1 I8POrt in r&sp8cI of my 8xaminalion of
the Gharily's 8ccounls a5 carried out under Section 145 of the Cètaiilles Act 2011 I'lhe 2011 Act'}. In
cairying oul rny BxaTninatioTr I have followed thB Dlrections glven by the Charity Commlsslon under
section 14515llb} ol the 2011 Act.
Independent examiner's 5tatomènt
Slnce the charily's gross income exceeded £250.000 your 8xamin8T musl be a membèr ol a body
Ilslgd In se¢liDn 145 of the 2011 Acl. I confiitn Ihat l am qvaiified to Iindertaka the examinatlon
because l am a member of the Associalion of Chartered Certified Acwuntants IACCAI. which Is one
of the listed bodies.
I have completed my examlnalion. I confirm that no mallers havg ¢om8 to my att8ntion in connecfio
with tho examination giving m8 caus8 to b81i8V8=
aceountSNJ records werg not kepl in respecl of the Charity as roquir8d by section 386 01 the
2006 Acl., QT
the fInanC￿al stslemenls do nol acwrd with those re¢ord$', or
the financial 81alements do not comply with the accounting ie4uiretnEnls 015EGlion 398 01
the 2006 Act olher than any requirement thal the accounts give a 'lrue and fairf view which
is not a mattor con8id9r8d as part of an independent examlnation.. QT
the financi81 slatemenls have not been prepa¥ed in accordance wilh the molhods and
prlnciples ol thè Slalgmenl of Recommended Piaclice foT accounting and reportlng by
chariti8S applicable to eharitles preparing their accounis in accordance with the Financial
Reporting Slaiidard applicablÉ in the UK and Republic of Ir81and IFRS 1021.

Tir Coed
Company Limited by Guarantee
Indopgndgnt Examiner'5 Report to the Trustees of Tlr Coed i¢0nllnu4dJ
Year ended 31 October 2023
I h￿6 no concerns and havo com8 acr08s no other matters In eonn8Ction with the eKaminalion to
hlch altenllon should be drawn in t
s report in order lo enable a proper understandlng ol Ihe
ccount lo b
ach
es
dependent E
23 College Steet
Lampeler
SA48 7DY

Tir Coed
Company Lirnited by Guarantee
statement of Financial Activities
(including income and expenditure account)
Year ended 31 October 2023
2023
Restrlcled
funds Total funds Total lunds
2022
Unreslricted
fund5
Notè
Income and endowments
Donations and logacios
Charltabl¢ a¢livilles
other trading aclivit18S
Inv651menl Incomb
1,545
14,646
422
969
1,545
395.997
1,052
969
533
594,984
544
381,351
630
Total Incomè
17,582
381,981
399.563
596.115
Expendlture
Expenditure on ch&rllable acllvlties
Olh8r oxpendllure
Total 8XP8ndlture
9,10
12
40,384
451,436
491,820
555.915
586
40,384
451A36
491,820
556,501
Net lexp8nditurellincome and net
movèmènt in funds
122,8021
ie9,455}
(92.2571
39.614
R8conclllatlon of funds
Total funds brought ftsrward
Total funds carried forward
188.108
69,455
257.563
217.949
165,306
165.306
257.563
The stalement ol financial activilies includes all gains and losses Tecognised in the year.
All in¢omg and expondlture dorive from ¢onllnuing aclivilgs.
Tho notes Dn pagps 14 *0 25 forffl part of these Ilnan¢lal Statements.
10

Tir Coed
Company Limited by Guarantee
statement of Financial Posltlon
31 October 2023
2023
2022
Notè
Flxod a$s91$
Tangible fixed assets
16
16
Current as8&ts
Dèbtors
Cash at bank and In hand
17
97.368
83,580
180.948
101,878
180,544
282,422
Cr8dltors'. amount5 falllng dua wlthln onè yèar
Not current assets
18
15,802
165.146
165,306
165,306
25,019
257,403
257,563
257,563
Total ass&ts 18ss curr8nt Ilabllltles
Net a$$el$
FLFnds of tho chartfy
Reslricleij funds
Unr8slricted funds
69,455
188,108
257,563
165,306
165.306
Total charlty funds
20
For the year endlng 31 October 2023 the charity was entitled lo exempllon from audit under section
477 of th8 Cornp8nl8s Act 2006 T85aling to sm811 companles.
Dlre¢lors' responslblllll¢s'.
The members have not required the company lo obtairh an 8ud5101 its financlal 51at&mènts for Iha
year in question in accoTd&nce with secbon 476.,
Th8 directors acknowledg& thèir responsibilit18s for complyin9 wilh th8 requlTemenls of thè Act
with rè5p6cI to accounting records and the preparallon ol financlal slatements.
These financial statements have been prepared in accordance with thg provisions appllcable to
companies subject lo Ihe small coEnpanies' regime.
The stalement of financial position
continues on the following page.
The notqs on pages 14to 2S form part of those flnanclal 5tal8m•nt$.
11

Tir Coed
Company Llmlted by Guarantee
statement of Financial Position (eon11n￿$
31 October 2023
These financial slalements w8re approved by the board of trustees and authorlsed for Issue on
and are si9ned on behalf of th8 board by..
*Yha L.
Anna L. Prylherch (Aug
0, 2024 11..59 GMT+ii
A L Prytherch- Jolnt Chalfperson
Tws18e
Oate.. 30 August 2024
The noles on pag8¥ 14 to 25 form part ol these fln4n¢lal statem8fbfs.
12

Tlr Coed
Company Limited by Guarantee
statement of Cash Flows
Year ended 31 October 2023
2023
2022
Cash flows from opeTallng acllvitles
Nel lexpenditureyittcome
192.2571
39.614
Adjuslm8nls lor..
Other int8T8St r8C8ivab18 and slmllar In¢ome
Accrued expensesllincomol
19691
22,159
1541
{43.6981
Changgs In..
Trade and othei debtors
Trade and other ¢r8dilors
115,899}
19.9671
197.9331
5,496
122.9061
{21.5461
Cash generated Irom op8ralions
Interest recelved
989
54
Net cash used In operallng acllvllles
196,964}
{21,4921
Net decrease In cash and ca$h equSval8nls
Cash and cash equlvalents at bèginnlng of yoar
Cash and Cash èqulvalènts at end of year
196.9841
180,544
83,580
121.4921
202,036
180,544
The notes on pago¥ 14 to 25 form part of thoso Ilnanclal 8tatam8nts.
13

Tir Coed
Company Limited by Guarantee
Notes to the Financial Slatements
Year ended 31 October 2023
General informatlgn
The charity Is a public benefit entity &nd a prlvatè company Ilmlled by guarantee, reglslered In
England and Wales and a registeT8d charity in England and Wal88. Thè address of Ihe
regislered office Is Unlt 6G, Sclence Park. Cefn Llan. Llanbadarn Fawr, Abery$￿yIh. SY23 3AH.
stalement of complian¢e
Thèse flnanolal slalemenls have been prepared In compliance wilh FRS 102, 'Thg Flnan¢ial
Reportlng Standard applicablè in the UK and tha Republic of Ir81and', th8 St8t8ment of
Recomn18nd8d Pracllce 8ppll¢able lo charllles prepBrlng Iheir aceounls in accordan￿ with Ihe
Financial Repoiling Standard applicable In tht) UK a¢KI Republic Df Iraland IFRS 1021 (Charities
SORP IFRS 10211 and Ihe Companies Act 2006.
Accountlng poll¢las
Basls of preparatlon
Thè financlal slalements have been prepafed on the historlcal cost basis, as modifi8d by the
revalualion of ¢ertaln financial asset5 and liabllilie8 and iThVEslmenl piop£rties rneasuied al lair
value through income or expendlturè.
Thg financial statements aT8 prepared in sterlng, which is Ihe functional currèncy ol the entity.
Golng concern
Th8re 3re no malerial uncerta*nli8s about the charivs abtlity to conllnue.
Judgement5 and kèy sources of estlmatlon uncertalnty
Tho preparation of the financlal stalements requires m8n8g6ment lo make judgements,
6811mgtes Ènd assumptions Ihal affect the amounts reported. Tliese estimates and judgements
are continually revlewed and 2r& based on 8xp8rien¢8 and olh8r faciois. induding 8Xp8c1at￿n8
of future ev@nls thal are belleved lo be reasonable under the circumslartr¢es.
Fund accountlng
Unrestricted funds are avallabte lor use al the discrelron ol the Iruslge8 to further any of the
charills purposes. Reslricled funds are subjectod to restrictions on their expendlture declared by
the donor or through the tèims of an appeal. and fall Inlo one of two sub.classes-. restrlcted
Income funds or endowment lunds.
14

Tir Coed
Company Llmlted by Guarantee
Notes to the Flnanclal Statements
Year ended 31 October 2023
Accounting policles {contlnued)
lTrGomlng resourcgs
All incoThitF9 re50urce5 arB included Sn the statem6nl ol financial activilles when enlillemenl has
passed lo the Charity., il 18 probable that th8 economic benefits associated with Ihe transaction
will flow to the charily and the amount can be ¥ellably measured. The following specific policies
ale applied to partkular calegoiies ol income..
Incom8 Irom donatiQll5 or giants 15 Fecognised whEn Ihere Is evldence of enllllement to Ihe
gift, receipt Is PTobable and Ils amount can be measured reliably.
legacy Income Is recognlsed when re¢&ipt is wobable and gnlitlemenl is gstabllshed.
incom8 from donaled g(x)d5 is meBsured at the fair value ol the good5 unlE5S Ihls Ss
Impr8clic81 to measure rellably, In whl¢h case the value is derivecl from tho cost lo th8 donor
or the eslimaled resale v8lu8. Donated facilities and services are iecognised the
8ccounts whèn recolved 11 the value can be reliably measured. No amounls aTe included for
the contribution of g8neral volunlegrs.
income frorn contracts for Ihe Supply Of sewl¢es is rprngnised wtlh the d&livery of the
contraoled service. Thls is classified as unreslricled funds un19ss ther8 15 a conliactual
requiremenl for It to be spenl a p8rtKular purpose and ieturned11 tjnspènt. In whlch case
it tnay b8 Tegarded a5 reslrlcled.
RÈSOU￿8$ expÈnded
Exp6¥MlSlurè1g recognlsed on an accrual8 basis as a liabilily is inGurr8d. Exp8ndllurè indudas any
VAT which cannot t)8 lully recovered, and ￿ classified under heading5 of the siateTnenl of
financial acliviles to which il relales..
expenditure on Taising funds includes the ¢¢)818 ol all fundiBising aclivilies. events.
non-charitable If8ding actwilies. and the sale otdonated good5.
expenditure Dn ¢har51able Acllvllles Includes all costs Incurr8d by a Charity in undertaking
activities Ihal furth8r its charitable airns for benefil of it5 bEnefiGiaiies, InGluding those
support costs and costs relating lo Ihe governance of the charity apportioned lo charitsble
aGtlvittes.
othgr expendilvr8 IDclude5 all expendilure that is neithei related to ratslng funds for the
charity nor part of Ils expendllure on charitable acli%ili&s.
All costs are gllocated to 8xpenditure categories 18fl8Ctlng the use of the resource. Dlrecl costs
allributable lo a single aclivity are allocated directly to that a¢livlly. Shared costs ai8 apportioned
between IhÈ acllviliÈs IhÈy conl¥ibul& to Dn a rea8onabl8. jUStifiab5e ènd cornslstent basls.
Operatlng leases
Leas8 payments ai8 18cognis8d as an expens8 over the lease term on a straighl-line basis. The
8ggragate ben6fit ol lease incenlives is reco9nised as a reduction lo expenso ovcr tho loaso
tgrm. on a slraight-lin8 basi$.
15

Tir Coed
Company Limited by Guaranteè
Notes to the Financial Statements {¢ontlnued)
Year ended 31 October 2023
Accountlng pollc185 Icfrntlnu
Tanglble assats
Tangible a5s615 are initially recorded at cost. Ènd subsequenlly sl8ted al oost less any
a¢¢umulated depreclatlon and Impalrmenl losses. Any tanglble assets ¢ariied al revalued
amounts are rocorded al the fair valu9 81 Ihfj dalfj ol rov&lualion less any 8ubsequ8nl
accumulated depieciallon and sub5Equent aG¢umulaled ITnpairmenl1055es.
An incroaso irTr Iho Carrying amount ol an assct as a rosult of a Tovalualion, Is recognisod in olhoT
recognlsed galns and lossè8, unles5 It ￿VerSeS a charge for Impalrment that has previously been
rgcognised as gxpondilurg wilhin Ihg slalemenl of linancial activities. A decrease In the ¢afrying
amount of an as88t as a result of revaluation. is r8cognised in other recognised gains and losses,
excepl to which 11 offsets any fxevSous revaluallon galn, In whlch case the loss Is shown wllhln
other recognlsed gains and losses on the statement of financial 3Ctivlties.
Depreclatlon
Depreciation is calculated so as to write off the CO8t or valuation of an asset, less ils Tesidual
value, over the useful economk Ilfe of that assel as follows..
Plant and machlnery
Fixlure5 Bnd fittings
Equipment
25Yo 51raight line
25% 8tlBight line
25.10 Straight line
Impalymènt of flxed assets
A revigw for Indicators ol impairrngnt cariied out al 8ach reporting date. with Ihe r8coverable
arnount being estimated where such indicator5 exi51. Wheie the carrying value exceed5 the
recoverable amount. the asset Impaired accordlngly. Prior impairments a￿ also reviewed for
P05sibl& reveTsal al 8ach r8porting dalg.
For the purposes of Impairment testing, when 51 is not possible to esllmate the recoverable
arnounl of an individual ass8t. an 8slimat8 is mad8 of lh8 r8cov8r8b18 8moLint of th8
cash-genefaling unit to which the asset belongs. The cash-generaling unil Is Ihe smallest
Ident￿1*8￿1￿ group Of assets Ihal includes the asset and generates cash inflows that largaly
Indèpandenl ol the Cash Inflows from other *ssels or groups ol assets.
FOT impairmgnl lesling of goo(knill, the goodwill acquired In a buslne5$ combination Is. Irom the
acquisition date, allocated lo each of the cash-generating units that are expecled to benefil from
the synergies of the combination, Irrespeetlve of whether other assets or liabilities ol the charily
are asslgngd lo Ihosg unlts.
Flnancial ÉnstTument$
A financial asset 01 a financi81 liability is iecognised only when the charity becDrne8 8 patiy to the
contradual provlsions of the Inslrumenl.
Baslc financial inslrurnen15 are Initial￿ recogDis$d 8t Ihg amount recelv8bl& or payablè Includln
any relaled Iiansa¢lion Costs,
16

Tir Coed
Company Limlted by Guarantee
Notes to thè Flnanclal Statements (¢OnlhJufydJ
Year ended 31 October 2023
Accountlng polic195 Iconllntwd)
Flnanclal Instruments
Current 8ssets and current Ilabllities are subsequently measured al the cash or other
¢onslderallon expected lo be paid or received and not discounted.
D8bl itlslrumcnts ale subsBquenUy rne&5urad at amortlsed cost.
whe￿ Investments in Shares are p￿bliClY traded or Iheir fair valug ¢an olh8Trvise b8 m8asur8d
reliably, the investment is subsequently measured at lalr value wllh Changes In fair value
recog1115ed In InGoine And expenditure. All other such inveslmenb are subsequeiilly measured at
cost less impairm9nt.
other financlal Inglfuments, including derlvatives, are inillally iecognlsed at fair value, unless
payment for an asset is deferred beyond noirn81 business terms or financed at a Tate ol inteiest
th8t is not a market rate, In which easè the asset Is measured al Ihè presenl value ol the lulure
payments discounted at a market rale of Inlergst lor a 81milar debt inslrumenl.
other financtal Instrutnents ale subsequently tnea5ured al fair value, with any Changes
recogn15ed in the slalement ol financlal acllvllles, wSlh the ex¢eptEon of hedglng Inslrumenis In a
designated hedglng ielalionshlp.
Flnanclal assets that are measured at cosl or amortised Cost are reviewed for objeclive evldencg
of impairment at th8 8nd of each r8POrting date. If Ih8r8 55 objectiv8 8vid8nc8 of impairment, an
Impairment loss Is recognlsed under the appropriate heading in the slalernenl of financlal
activilies In which the inllial gain was recogni58d.
For all equily inslrutnent5 re9ardless 01 5ignifi¢ance, and olher Ilnancial assols that a
Indmdually SIgn￿lCan1, these &re assessed individually for impairment. Other financial assets are
ellher 858&s88d individu811y or grouped orh the basis of 5itllllaT ciedil 115k cha18Cteristics.
Any reversals ol impalrmenl are recognlsed Immedia18ty, to Ihe extent that th& reversal d08s not
result Ill 8 carrying amount of th8 financial assèt that exceed5 what the earrylng amount would
have been had the Smpalrment not prèvlously be8n recognised.
Llmited by guar4nte8
The liabllity ol the members is Ilmited. Every member of the charity undortakgs to contribu18 such
amount as tnay b8 18quir8d Inol 8xc88dinu £101 ltr the charity's assets if11 should be wound up
whlle he 01 she Is a memb6r or within one year after he or she ceases to be a membsr, for
paymenl ol the charily's debts and liablllll&s contrac18d befoie h8 OT she ceas88 to b8 a m8mb8r,
and of the ¢0s18. charges and expensés Of winding up, and for Ihe adluslmènt of the rlghts of Ihe
conlfibutors amon9 themselve5.
Don8tlon8 and legacles
UnTgStri¢18d Total Funds Unrestrict8d Total Funds
Funds
2023
Funds
2022
Donatlons
Donalions
1,545
1,545
533
533
17

Tir Coed
Company Limited by Guarantee
Notes to the Financial Statements (contlnuedj
Year ended 31 October 2023
Charltablo acllvitl85
Unreslrlcled
Funds
Re8lrioled Total FundB
Funds
2023
Brechla Forest Wesl Community Fund
Leaf Proj8cI
Elan Links Project
AnTlr Fawr
AnTir Pllot
Klckstart
Rank Timg lo Shine Bursary
Dysgu Digidol
Llechl Glo
Genoral Primary PurposB Fundlng
Enhanclng Pembrokeshire
PRYD
Calalyst Cymw
85,388
244,951
25,571
85,388
244,951
25,571
380
14.266
380
14.266
18,772
5,619
1,050
395,997
18,772
5.61g
1,050
381.351
14.846
Unreslricl8d
Fund5
Rgstricled Tolal Fund5
Funds
2022
Brechfa Forest Wost Community Fund
Leaf Prol8Ct
Elan Links Project
AnTir Fawr
AnTir Pilot
Kickstart
Rank Time lo Shin8 8ursAry
Dysgu Digldol
Llechi Glo
General Prirnary PurpD5e Fundng
Enhancing Pembrokgshire
PRYD
Catalyst Cymv
1,325
221,775
123,390
32,167
114,652
6,523
23,051
566
1,325
221,775
123,390
32,167
114.652
6,523
23,051
566
11,512
60.023
11.512
59,143
880
70.655
524,329
594.984
othertradlng acflvltles
UN88lri¢ted
Funds
Rgslrided Total Funds
Funds
2023
Reimbursed cost and misc incom8
422
630
1.052
18

Tir Coed
Company Llmlted by Guarantee
Notes to the Flnancial Statements
Year ended 31 October 2023
Other tradlng actlvltle8 (tollllnuodl
Unr881rict8d
Funds
Reslriolèd Total Funds
Fvnds
2022
Reimbursed cost and mlsc income
525
19
544
Inve8tm¢nl in¢ome
Unrestricled Total Funds Unreslrlcted Total Funds
Funds
2023
Funds
2022
Bank interest iecelvablts
969
54
Expenditure on charitable actSvltles by fund type
Unrestricted
Funds
Reslflcted Total Fund5
Funds
2023
Charllable Aclivlty
Support Costs
40,384
383,160
68,276
423,543
68.277
40.384
451.436
491.820
Unreslrtcted
Funds
Restilctgd Total Funds
Funds
2022
Charllable A¢tivlty
Support Costs
36,247
517.568
2.100
482.689
73.226
36,247
519,668
555.915
10. Expanditur• on charitablo activltles by actlvlty type
Acllvilles
under12ken
directly Support costs
fotRI funds
2023
Total fund
2022
Charitable Adlvlty
Gov8rnaT)¢8 Costs
423,543
58.646
9.631
482,189
9,631
550,639
5.276
423,543
68,277
491,820
555,915
19

Tir Coed
Company Limlted by Guarantee
Notes to the Flnancial Statoments l¢ohlthutdJ
Year ended 31 October 2023
11. Analy515 015UPPOrt C05t8
Analysis ol
support costs
Total 2023 Tolal 2022
staff costs
Governance costs
58.646
2.850
61.496
58.646
2.850
61,496
67.950
8,577
76,527
12. Other expendlture
Restrlcted Total Funds
Funds
2023
Restrlcted Total Funds
Funds
2022
Grants iepald
588
586
13. Independent 8x8mln8tlon fees
2023
2022
Fees pay8bte lo the ind2pendenl examiner for..
Independent exarnln8lion of the financial slalements
2.850
2,100
14. Staff cosis
The total staff costs and employee benefits for the reportSng period are analysed as follows..
2023
2022
Wages and salaries
370,509
438.301
The average head count of omp￿DY&&s during the yaar was 3012022.. 291. The average number
of full-tSme equlvalenl employees during tha year is analysed as follows=
2023
No.
2022
Numbgr ol staff
29
No 8mploy8e rec81v8d etnploy8& b8nefit8 of rnDf8 Ihan £60,000 durlng the year12022'. NIII.
15. Trustee remuneratlon and expÈnsoB
The charily Ituslee5 weie ntst pald 01 recelved any other benefÈts irom employmènt wlth the TNst
or Its subsidiary in Ihe year lo 31 October 2023 (October 2022.. NILI.
Mo èxpenses were reimbursed lo trustees during the year lo 31 October 2023 {Oclober 22.. NIL)
20

Tir Coed
Company Limlted by Guarantee
Notes to the Financial Statements (tontitjue
Year ended 31 October 2023
16. Tanglble flxed assets
Plant and Fixtures 8nd
machinery
Equlpment
Total
Cost
At 1 November 2022 and
31 October 2023
7.248
5,191
25,441
37,880
Depreciatlon
At 1 November 2022 and
31 October 2023
7.088
5,191
25,441
37,720
Carrying amount
At 31 October 2023
160
160
At 31 Oclober 2022
160
160
Tlr Coed Slt¢s of Opgratlon and Land Manag•d und•r L•ase
Tlr Coed has access agreements In place for slles used across Its lour eounties ol operatlon.
During th8 projÈcl y8ar Nov8mb8r 2022 to October 2023 we had agreements to use the lollowSng
sit&5'.
In Carmarthenshire we have an agreemgnl that allows us lo carry oul sensitive woodland
managernenl and undertake &clivity al site5 in Mynydd Mawi Woodland Park. Tumble. which
comprises 73 acres of mixed woodland and grassland on former colliery land owned by
Carmarthenshire Council. We also have access agreements in place for engagement and
learning acllvily and the usè ol work5htsp spaces at Keepers. In 8reohfa Fortsst. owned by
Natural Resources Wales and Yr Ardd Community Garden in Llandysul.
In Ceredlglon we have a long standlng agreement (o carry oul sensllive woodland managemen(
and use ol th& sile for activity al C09d Tyllwyd, Llanlarian, mixed woodland of 53 acres owned by
N8tural Resource5 Wale5. A rnore recent bul simllar a9reement exis15 al Llanlna Woods, New
Quay, a 50-acre woodland sitg owned by Dwr Cymru. AdditSonally, we have an agregmenl to use
half an aera of p8Sture owned by a local farmer that has been converted by Tir Coed into an
open acces5 ¢ommunlty garden for leaching purposes.
Pembrok8shir8 has Iwo main sites.. Scolton Woods, Haverfordw8sI, is a 10-acr8 mix8d woodland
sile, owned privalley. lor whlch we have a long standlng agreemenl to carry oul sensitive
woodland management and use sites lor activity and courses,. Cilrath Acre Communlty Garden,
Narb8rth, is located on a 12-8cre privat81y owned farm. Tir Coed has developed th8 gard8n and
used11 for learnlng and wellbelng actlvily.
In Powys wo work across a range of woodland sit8s within th8 70 square mi18s of land that is
owned by Dwr Cymw and leased ¢olmanaged by Elan Valley Trust, both project parlners In the
El8n Valley Links prolecl.
We have conslru¢led a range of Ilmber framed woodland 8lru¢lur8$ in many ol the slles,
including compost100s and olh8r us8ful ir>stall8tions thal irnprove public acc8SS.
21

Tir Coed
Company Llmlted by Guarantee
Notès to tho Flnanclal Slatoments (¢¢)nllnu•dJ
Yearended 31 October 2023
Ir. Debtors
2023
2022
Trade debtors
P18paymenls a￿d acciuod income
20,257
77,111
97,368
3.358
98.520
101,878
18. Cr•dltors'. amounts falling duè wlthln one year
2023
2022
Trade cred11ors
Acciuals deferred Inc￿)&
Other crédltors
1,755
14.047
288
23,943
788
15.802
25,019
19. Deferred Incom8
2023
2022
At I Nov8mbeT 2022
11.797
21.843
20. Anoly$ls of ¢h#rltabl# funds
Unrestrl¢ted funds
At
l November
2022
At
31 October
2023
come
Exp8nditur8
General funds
188.108
17,582
{40,3841
165,306
1 November
2021
31 Oetobor
2022
Income
Expendilijre
General (unds
152,588
71,767
136,2471
168,108
22

Tlr Coed
Company Limited by Guarantee
Notes to the Financial Statements {¢onthiuedJ
Year ended 31 October 2023
20. Analysi8 of charllJbl• funds (COAtlnuB
Rèstri¢t8d funds
Al
l November 2
022
At
31 Octobor 2
023
Income Expendllure
Leaf Project
AnTir
Dysgu Digldol
Rank Tlme to Shlne
WWW 8qulpm9nl $810
Other
Kickslart
Calalysl CyTnru
Pryd Ceredlyion
Enhancing P8nibrokeshlre
13.991
32,525
46
9.592
13.100
201
86.021
270.519
162,5401
1361,3661
37.472
158,3221
46
9,592
13.100
201
1.050
5.619
18,772
381.981
{1,0501
15,6191
120,8611
1451.4361
12,0891
69.455
At
1 November 2
021
At
51 October 20
22
Incom9 Expendilure
Leaf Project
AnTlr
Dysgu Digidol
Rank Time lo Shin8
WWW equlpment sale
other
Klckslart
Calalysl Cymru
Pryd Ceredigio
Enhancing Pembrokeshlr6
37,485
1.098
3,737
9.740
13.100
201
347.389
146.819
566
23,05fj
1370,8831
1115,3921
14,2571
123,1991
13,991
32,525
46
9,592
13.100
201
6.523
{6.5231
65.36fj
524,348
1520,2541
69.455
23

Tlr Coed
Company Limited by Guarantee
Notes to the Flnan¢lal Statements
Year ended 31 October 2023
20. Analysls of charltablo funds (coNJtlnued)
Leaf Project
The LEAF project spans Mld and Wesl W&les. creallng opportuniles for groups and Indlvlduals
Its a¢￿$$ bespoke welkbeing woodland aclivitles. tralnlng, mentorlng. work placements and to
support fledgling woodland enterpr15es.
AnTlr
A d9velopmenl ol th8 LEAF project to support and enable disadvanlag8d p80ple in Mid and West
Wales lo take practlcal steps to improve theSr health and welfare outcome5 through land-based
IrainSng, whlle benefitlng local communities, habllats and speoles and developing ¢apaclly lor
food production.
Dysgu Dl9ldol
A pilot project to test bilingual digili5ed learning in the outdoor environmanl. The alm Is to create
dlgital workbDoks and resources lor two exlstirsg woodland courses and convert course learning
lo a di9ital formal.
Kickstart
The Kickslart Scheme provid8s funding to ere8t8 new jobs for 16 10 24 year olds on Univ8r881
Credit who ar8 at risk of long term unemploymenl.
Rank Tlme to Shlne
A y88r-long R8S8arch & Community Le8der Inl8rn wilh a focus on th8 d8V81opment of the AnTlr
project. including coordinating new research into ouldoor employment opportunities and
d8v81oping accr8dited courses.
VIWW 8qulpm•nt sale
Proce8d$ of salg of Wisewoods Wa18S 8quipm8nt to b8 SP8rit with th8 8gr88rn8nt of the orfgin81
donor.
Enhanclng Pembs
A Petnbrokeshire County Councll scheme to offsel the negative Impact ol second home
ownershlp. Tlr Coed dellvered outdoor sessions io engage people in nature, outdoor volunteering
attd learlling to improve w811b8ing and skills whlle Improving corntnunlly spaees and blodlverslty.
PRYD
Working in partn8rship with Hwb Penparcaulcommunlty Forum Pryd is a food, orowing, learnlng
and voluntèering project to engage local people In growing, preparing or sharing food land
sloriesl and volunteerlng to support and develop local growing projects.
Catalyst Cyfflru
Having receSved coachlng durlng the Catalyst Cymru.. Resilient H8rilage proje¢l 2019 - 2021, Tlr
Coed sllccesslully applied for a community grant lor oiganlzallonal developtnent. The grant
allowed lor the engagernenl ol IT speclallsts to make improvements lo the accessibilily of Ihg
websi18 and th8 purchas8 01 a virtual conference 5ysletn.

Tir Coed
Company Limited by GuaTantee
Notes to the Flnanclal Slat8ment5 (conllnugd)
Year ended 31 Octob9r 2023
21. Analysls of net assets bètween funds
UnTestri¢ied
Funds
Reslri¢ted Tolal Funds
Funds
2023
Tangible fLxed a55ets
Curr6nt assets
Ciedilors108S than 1 ygaT
Net assets
160
85,090
160
180.948
{15,802}
165.306
95,858
115.6021
80.056
e5,250
un￿striCted
Funds
Restrlcted Total Funds
Funds
2022
Tangible fixed 85set5
Current assets
Credilois le85 than 1 yeai
Net asset8
160
187,948
160
282,422
125.0191
257,563
94.474
125,0191
69,455
188,108
22. Analysls of changes In net debt
At
Al 1 Nov 2022 Cash liows 31 Oct 2023
Cash at bÈnk and Sn hand
361,088
198,9641
264,124
23. Oporatlng l•asg commltments
The lotat future mlnlmum lease payments under non-cancellable operatinglgases ar8 as ftsllows=
2023
2022
Not later than l yèar
2.585
24. Related partles
Tho charlty Irust888 wsre not pald or received any ulher b6nbflts from amployrnènt wllh lh6 Trust
or Sts bubsldlary In the year lo 31 O¢lober 2023 IO¢lobgr 2022.. £NIL}. The amount relmbursgd io
Irustees during the year Its 31 Ocltsbet 2023 was £243 Ioolober 2022.. £5251.
25