Charity registratlon number 1120504 Company reglstratlon number 06294984 (England and Wales) POWYSLAND CLUB, CLWB POWYSLAND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 POWYSLAND CLUB, CLWB POWYSLAND LEGAL AND ADMINISTRATIVE INFORMATION Trustsos DWHall D L Peale R L Brown Rchurth P Barton Mrs D Wocdhouse D Stephenson IAr William Brilnell Mr John Davies Mrs Nia Griffiths LL Cd. Glyn j(￿S Miss Mary Okjham Mr OaYKI Peate Ms Catherine Richards Mr Robert Silvestei Ms Margaret Stacey Mr Cc4in Stratford Mr Philip Williams Mr NthrAas Howells Mr Geoffrey Lanagan Mr John Payne Mr Emyr Williams Mr Dewi Roberts Charty nurnber 1120504 Company number c￿294984 Prlnelpal addrèss Triangle House un￿ Street WelshpMy)I PowyE UK SY217PG Registered office Triangl8 House UnhyÈ Street WelshF¥J Powys UK SY217PG Accountants Ca(Iwalladw & Co LLP Eagle House 25 Sevem Street WetshFK Pows SY21 7AD POWYSLAND CLUB. CLWB POWYSLAND CONTENTS Pag8 Trustees reFMNt Accountants, report Statement ol finanaal aclivit*s 68lance sheet Notes to thè fina￿A￿l Ststements 7-14 POWYSLAND CLUB, CLWB POWYSLAND TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The tNstees presenl theii report and aCt￿Ints fcff the year ended 31 December 2023. The a¢(X)Un￿ have been prepared in a￿)rd8n￿ wilh Ihe a￿unts"n9 poli￿8￿ set out in note 1 to tl* 8¢ix)unts and cornply with the Companies Act 2(X)6 and "A(xwnting and Resx)rb"ng by Charil'es.. Statement of Recotnmended Practice applicaNe to charities preparing their acc¥)unls in accordance the Finanaal Reporting Standard applicable in the UK and ReKxJbJi¢ of IrdarKI {FRS 1021 (effective 1 January 20151. Objective5 and activities The eslablishmenl of a library lor the benefit ol the general Put￿]C (such library to be locatèd within the tx)rough of WelshpLX)11 and the provisKJn for ￿Search and education. of books. maps, plans. pictures, dra￿n9$ a)d engravings, and inforniation in mathine readable form ￿ carried by olher eJe¢tronic means or other non-paper medi8. The provisK)n of land arKI premises for the use of Ihe trusl in the conneciion with all or any of Is charitable actiwtios from time lo time. publ￿ benefit The trustees have paid due regard lo guidan￿ by ihe ChaTrty Commiss*)n in dec#JiThJ what actiwties the charity Sh￿k1 undertak8. Achlevements and perfom)ance S￿nIfiCan1 èctivitAèS and achi8V8m8nls aga￿$t obiectNes The board met on four occasions during 2023 and hekl its AGM ￿ 6th May 2023 vA)en officerfs reports were pr8s8n18d and a summary of Ihe acT￿nts for 2022 were wesented ar￿ approv•J. Talks were held by Edward Parry on thg Iravels of the bcal arfist Rev. John Parker {died 18601 arN1 by Sarah Thuisfield on Tu(k)r W(xnen'5 dress in April 2023. Two exctjrsic￿s wele held during the year by the excuisK)n5 organiser Mary Oldham. On8 to Rhug Ch•el and thè Rhu9 Estate on 17th Aijgust. and another a tcwjr of medieval Shrewstxjry on 17th July 2023. On 2nd Detsmber the dub (￿ganISed a visil to Cwrt Plas yn Dre in Newtown. originalty bjilt in Dolgellau with alleged connections to (Xyain Glynthvr bul derThYished aThY reerected in NeWl￿¥n in 1865. A talk on the building was given by ils uJrrenl ownerTirn Chilion. The Library wntinue(I to be open for nTh)mings e&h ￿￿k and 8 library ￿￿mIltee has been workng on creats.ng a digitsl library catalogue and reviewirMJ Ihe library Fdioes on the a(4uisition and retention of library material. Due to the personal circumsiances ol Ihe editor. lh8 publication of 'Montgoffewhire cdlect￿S. issue number 111 was ddayed until 2024. Flnaneial r•vi•w Reserrfes poli 11 is the policy ol the Club thal unrestricted funds which have not been des¥Jnated lor a specific use should be maintained al a level equivalent to betw8en three and six month's expenditu￿. The trustees wnsider that reserves at this level wtll ensu￿ that, in Ihe event ol a ￿nIficant drop in fttnding, they wll be ablè lo Contin￿ the Club's eurrent actwities while conshYerath)n i8 given lo ways in vthich addtbonal fiJvKls rnay be raise(S. This level of reserves has been maintained throughout the year. ai()rrisks The Iruslees have assesseil the major risks to Ihe Charity is exp)s&J, and arè satisfied that systems are bn place to miligale exposu￿ to the major risks. Structure, governance and management The Club was fomed as a company limited by guafanlee £4) 27th June 2007. POWYSLAND CLUB, CLWB POWYSLAND TRUSTEES REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, who are also the dir8Gtors for the puw of company law. aThJ who Served during the year and up to the date of signature of the financial stalements were= DWHall D L Peate R L Brown R Church P Barton Mrs D Wo(yJhwse D Stephenson Mr Williarn Brilnell Mr John Dawes Mrs Nia Griffiths Lt. Col. Glyn Jones Miss Mary Oldham Mr Davtd Peale Ms Catherine Richards Mr Robert Silvester Ms Margaret Stacey Mr Cdin Straffor(I Mr Philip Williams Mr Nicholas Howells Mr Geoffrey Lanagan r John Payne Mr Ernyr Williams Mr Dew Roberts R6cruitmenl and ap￿nIm&￿t oftru*ees The appointmant of new Dire¢iorsl Trustses Kg in arwrdan￿ with the M8fTKYandum and Artide ofAssouation of the Company. None of the truslees has any benef￿la1 Inte￿$[ in Ihe company. Al of the Irustees are members of the ctynpany aNI guarantee lo contribute £1 in the event of a wnding up. The Trustees reportW8S approved by the Boarrl ofTrustees. R Church Trustee Mr Emyr Williams Trustso 20 September 2024 POWYSLAND CLUB, CLWB POWYSLAND CHARTERED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF POWISLAND CLUB, CLWB POWYSLAND FOR THE YEAR ENDED 31 DECEMBER 2023 In order lo assist you to lulfil your duties under the Companies Acl 2(K6, we have prepared for your approval the nancial statements of Powysland Club, c￿ Powydand for Ihe year ended 31 D￿rnber 2023. which comprise th8 Statement ol finanual acts"vities and the rela1￿J note5 Irom the charity's accCUntir￿ recA)rds an(S from inlormation alld explanatic￿$ you have gNen us. As a praclising member fimi tsf the Instiiu¢e ol Chartered Aco)untants in England and Wales, we arè subject to its ethical and other professional requirements which are detailed al https.'I1￿￿.icaeW.COmIregu1at10n. This report is made to th8 charivs Irustees. as a Ixmly. tn aCc￿dan¢￿ wlh Ihe term5 of our engaJement letter. Our work has been undertaken solely to prepare lor your 8ppfoval th8 accounts of Powysland Club. Clwb Powysland and state those matters that w8 have agreed to state to Ihe chantys trustees. as a b(xty. in (his report in accx)rdancè with ICAEW Technical Release 07116 AAF as detsiled at ￿eW.com. To the fvllest extent pemitted by law. we do not a¢￿pl or assume resFongbfjity to anyone other than Powysland Club. c￿ Powwand and the charitls trustees as a twjdy. for our work or I￿ thi5 report. It is your duty to ensure Ihat PoWy￿and Club. CW) Powysland has kept adequate accounting records and to prepare Statutory finanaal statetnenls that gwe a ITue and lair VEW of Ihe assets. liabilities. f￿ancIal position and surplus ol Povrysland Club, C￿) Powysland. You c(x)sKl8r that PowyslarKI Club, CM) Powysland is exempl from the stalulory audit requirement for the year. and is not required lo obtain an independent exafflinerfs rewrt. We have not been instructed to carry oui arb audit or a review of the finanaal staiernents of Powy518nd Club. Clwb PoNYysland. For this ￿asOn. we have not verifieil the acoJracy or completeness of the accounting records or Informatic￿ and explanations yrAJ have given to us and we do not. therefore. express any opinion on the statutory financial statements. Cadwallader & Co LLP 20 September 2024 Chartered Accountants Eagle House 25 Sevem Street W8lshF Powys SY21 7AD POWYSLAND CLUB. CLWB POWYSLAND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrtrstrlcted Restricted nds funds Total 2023 Total 2022 Notes Charitable activlties Investrnents 12.732 18.899 12.732 18.899 6.227 14.915 Total in¢ome 31.631 31.631 21,142 Raising fuThJs Charitable acbvil 15,235 Total r•sources expended 9,908 15.235 Nel Igains)Ik)ssgs on investments 128.7351 128,7351 59.514 N?t movement Sn funds 50,458 50.458 153.6071 Fund balances at 1 January 2023 461.044 107,141 568.185 621.792 Fund balances at 31 December 2023 511,502 107.141 618.643 568.185 The statement ol financial actiwties also comF4ies with the requirements for an irKome awKI expenditure ac(xwnt under the Companies Act 2(￿. POWYSLAND CLUB, CLWB POWYSLAND BALANCE SHEET AS A T 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets 10 51.894 51,894 Currènt assets Deblors Investments Cash at bank and in hand 11 12 432.477 135,878 403.742 114,150 568.654 518.160 Crèditors.. amounts talllng due within one year 13 (1.0991 I1,(￿3) Net current assets 567,555 517,097 Total assets less currtnt liabilit￿S 619.449 568.991 Cr•ditors= amounts falllng due after more than one year 14 I￿) {8061 Net assets excluding pen$ion1Sablltty 618.643 568,185 Net assets 618.643 568.185 The funds of the Charity Restricted ino)me funds un￿strICted funds 15 107,141 511.502 107,141 461,044 618.643 568,185 The company is entiued to the exemplK)n from the audit r8quirement conts1r￿ in secb"c¥) 4T1 of the Compani85 Acl 2006. for the year ended 31 December 2023. The trusteès acknowledge their respon￿bilItieS for 8r6uriThJ that thè chaiity keeps aC{￿nting records whth o)mply with section 386 of the Act and for preparing finan(ial statements which give a true and fair view of th8 state ol affairs of the company as at the end of the f￿an￿al year and of tis ino)mirrfJ rèsources and appli¢*on ol resources, including its inwme and expenditu￿. fw the financi￿ year in a(X0rdan￿ wth the requirements of sections 394 and 395 and which otherwise comply with the requirernents of the Companies Act 2006 relating to finanaal statements, so far as applicablè to the company. The mèmbers have Th)t wuired the company to obtaFn an audit of its finar¥ial slaterr￿t$ for the year in question in accofdance with section 476. These financial statements hav& b86n in •xX)rda￿ wth provisic￿ts applicable to o)mpanies subj8et to the sm911 corrynies regime. POWYSLAND CLUB, CLWB POWYSLAND BALANCE SHEET (CONTINUED) AS A T 31 DECEMBER 2023 The finanoal State￿￿ntS were approved by the trustees ￿ 20 September 2tr24 R Church Trustet Mr Emyr Wdliams Trustee Company iegistrats.on n￿rn￿r (￿294984 IEThJland aml wa￿3) POWYSLAND CLUB, CLWB POWYSLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policles Charity information Powysland Club. Clwb Powysland is a private o)mpany limited by guarantee in(x)rporated in England and Wales. The registered office is Triangle House, un￿ Street. Welshpool. Powys. SY21 7PG, UK. 1.1 Accounting conventlon The financial statements have been prepared in ￿￿)rdance with the Charivs tgoverning documentl, the Companies Act 2(￿. FRS 102 7he Finanaal Reptxting Stsndard applicable in the UK and Republic of Ireland. I"FRS 102.1 and th8 Charities SORP 'Accounling and ReFKJrting by Charil+es". Staterngnt ol RecommeThJed Practice ap￿1(￿￿￿e to charities 5xeparing their ac(x)unts in accordance with the Financial Reportsro Stsndard a￿l¢a￿e in thé UK 8rKI Repuuic of Ireland (FRS 102)" leffeth.ve 1 January 20191. The Charty is a Public Benefit Enlity as defined by FRS 102. The financial statements a￿ prepared in sterfiThJ. which is the funcbonal ￿rre￿ of the Charity. Monetsry anKJunis in thèsè finanGial st8lements ale r￿jnded to Ihe nearest £. The finanaal statements have Ixen prepa￿ urNJeT the hislorical cost con¥entJon. The prinapal ae(x)unting icies adopted are sèt bèkmf. 1.2 Going concern At the time of approving the finanaal slatements. the I￿￿tee$ have a reasonable expectation that the Charily has adequate resources to (x)ntinue in operabonal e￿StenCe lor the loreseeatA8 future_ Thus the trustees cx)ntinue to adopt Ihe going con(*m basis of aox(miitNJ in prep8riTrJ Ihe fina￿la1 stat8rn8nts. 1.3 Charitable funds Unrestricted fuThJs are avalaile for use al the discretion of Ihe tru5tee5 in fur1héran￿ of their charitabl8 objecbves. Restricted funds are subjed to specific coThJitKJns by dorKJf5 or grantors as to how they may be usèd. The purposes and uses of the ￿stric{8d funds are sel (Mjt in the notes to the finanoal statements. Endowment funds are subjecl to $Kwtfic conditions by dorKJrs that Ihe capiid must be m8inlained by the Charity. 1.4 Income In¢orne is ￿cognISed when the Charity is legally entitlèd to it after any perfornar￿e ￿dI￿OnS have be8n met, the amounts can be measured reliabty. and it is probable that irKome wll be receNed. Cash donations are reccxjnised on receipL Other donalions arè re￿nised once thè charity has been notthed of th8 donatx>n, unless performance wnditions require deferrAI of the amounl. Income tax recoverable in relal¥Jn to (k)nations received uThJer GtftAKI (x de&Js of o)venanl is reC￿3[￿Sed at the time ol d{￿atiOn. Legacies are recognised on ￿lpt IK otheMse rf Ihe Charity has tmn nolified of an impending distribution. the amount 15 kn(ywn, and re￿Ipl is eX￿￿ed. If Ihe amcmjnt is not known. the legacy is tr&8ted as a contingent asset. POWYSLAND CLUB, CLWB POWYSLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policies IContlnu¢dl 1.5 ExpenditLTrre Expendi(¢Jre is re¢ogni58(l Or￿ there is a legal or constructive oblvJation lo transfer e(x)nomic benefit to a third party, it is probable that a trar6fer of econom￿ benefiis will be reouireil in setuement, and the amoL+nt of the oblwJalion can be measuted reli8bty. Experxlrture is dassrfied by acttvity. The (x)sts of each athity are made up of the totsl of dIr￿t (x)sts and Sha￿ costs, including suptmyt cthis involvèd in undertakn.ng eath activity. Direct costs attributat4e to 8 single activity are alk)caled diredy to Ihat actNity. Shared o)sts which contribjle to more than one aclsvity and support costs which are not attributable to a single activity are apporlioned behveen those acb'vilEs on a b8SiS consistent wlh the usg of resources. Central staff costs arè allwated on the basis of time spent. and deprecAation d)arge$ are albcated on the Fwxts"on of the asset's use. Expenditvre 15 a(wunted for on an acrwals basis and ha$ been dassified urK18r headiThJs that aggregate all costs lo the calegory. costs c8nnot be directty attribuled lo pa￿(￿J18r headings ihey have been all￿at8d to activities on a bas¢s consistent ￿th Ihe use of resources. 1.6 Tanglble ftxed assets Tangl￿e fixed assèts are inilialty measured at (Tht and subsequenty measured at cost or vajuation. nèt of depreciabon and any impairrnent k)sses. Dep￿at￿n is recognis8d so as to wriie off the cost or valuation of assets less Iheir ￿s￿lua1 values over their useful14ve$ on the lolkthing bases.. Fixtures and fittings The gain or loss arising on the disposal of an assei is delem)ined as the difference belween the sale proceeils and the c8rw.ng value ofthe asset. aThJ i8 recognised in the slatement offinancaal aclivibes. 1.7 Impainnent of fixed assets At each reporting end date, th8 Charity wews the carrwng amounts of its tangl￿e assets to determine whether there is any indicalK)n that those assets have suffered an impairmenl loss. If any such indcalion exists, the recoverable amunl of the asset is estimaied in ordèr lo determine extent of the impairment loss lil any). 1.8 Cash and cash equi¥alents Cash and cash equivalents irrjude cash in hand. de[K￿lS hekl al call banks. other slK)rt-temi liquid investments with original maturib.es of three Th￿nthS less. and bank overdrafts. Bank overdrafts are shryèm within borrowngs in CL*rrenl liabilit*s. 1.9 Financial instruments The Charity has elected to apply Ihè provisior6 of sects.on 11 'Basic Financ¢al Inslrurn¢nts' and Section 12 'other Financial Instruments Issues. of FRS 102 lo all of ils financial instnjments. Finanual instwm8nls a￿ recc¥Jni5ed in the Charivs baL4n￿ sheet when thè Charity 1)ecomes party to the eontraclual provisions of the instrument Financsal assets and Ikibilities are offsel. Ihe net arTh)unts p￿sentEd in the financial statetnents. when there is a legally enfor￿ble nght to sel off the recognised amounts and Ihere is an intention to settle on a net basis or to ￿lIse th8 asset and seluè the li8bility simulian8ousIy. POWYSLAND CLUB, CLWB POWYSLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policlgs (Continued) Basic financlal ass•ls Finanoal asseis classified as other finanoal assets arè stsled at fair value with any gains or bsses arising on reme8surernent rec￿niSed in profit or loss. The net gain or h)ss recognised in iirofit or loss indudes any diwid￿d ￿ intarést 8amÈd on t1￿ finaroal asset. Other financlal assets Finan￿81 assets with fixed or detemiinable payments and fixed mabjrty dates that the Charity has th8 Posltive intent and ability to hold to malurily are dassified as held to malurity investmènts. Held to maturity inv8Strnents are rneasured at amOrtis￿ ￿st LLsing the effectNe interest methcmj less any impaimient, with revenue rec