RII GIST4 D COMPANY NUMBEI R: 02803324 (Engl*nd and Wales) REGISTERED CHARITY f4uMBER: 1130052 rt ofthe tees and itsd Fili cial Statements foi. the Ygar Ei)d 31 Marth2 for Ashmol¢ & Co. Chartere41 Ceitified Ac¢ouJitants The Old Soliool The Quay Carmarth6n Caniiarthenshire SA313LN
lait Con nts of the Finalla1 Stat for the Year Bnded 31 en 20 Report of the Trusl¢es I to 3 Indepe1ent Examiner's Report Statement of Finanknlal Activities Balanc¢ Sheet 6 to 7 Notes to the Financial Stat¢mBnts 8 to 12 Dethiled Sts¢ement of Financial Activities J3 to 14
laith C f edi ort of the T tres h 2025 Th¢ trust¢e5 who are also dii'ectois of the charity for the piirposes of the Compani¢s Act 2006> pr¢sent their repoit with the financial staten)¢iit8 of the clwity for the year ]ded 31 Maich 2025. The trustees have adopted ihe provisions Df AGcounting and Reporting by Charities: Statement of ReGommended PraGtice upplicabje to charities preparing their 8ccoui)ts in acrordaiice with the Financial Rcportillg Standard RppIAoable in tlie UK and Republic of Ireland (FRS 102) (eff¢ctiv¢ l January 2019). OBJECTIVES AND ACTIV[4 S Objeetlvt8 umd #lnys Thc. Charity's principaI alm is to pmmote, direct and reseaTGh into rnatters relevant to the Welsh language in Wale4 in addition to regional and niinority languages, to prornote and ¢xtend edu¢ational activiti¢s, training and development projeots within Wels11 society and beyond, ii) conne¢tioii with the Wclsh language )d regioijal )d minority languagcs, to promote and extend public oduration in lai)guage schemes, bilti)guaIism and niultilingualism, Publie benefit Thc Charity provides & benefit to the public by giving advice, 8SSlStance and services on every siibject i'¢I¢vEt to the promotioii and use of regional )d minority languag¢s. The trustees have considered the guidelines given by the Charity Commission on public benefit. ACHIEVEMENTS AND PERFORMANCE Charitable activfitie8 A roview of succcss and perforniances of the cliarity was given by the chairman and njanoging directoi. at th¢ anniial meeting. In bTi¢f tho Oh'lty IMS b¢ell able to fulfil its role fully this year and IS taken on & numljer of new full time membeTS of staff to d¢liv¢r its projects and have moved all the staff ov¢r to the local authorities pe110n sohetne. FINANCIAL REVtEW Invegtment policy and objectiv The Int¢¢$' iiivosEment powcrs ai'g LFoveriied by ttie Memorai)dum and Articles of Assoclation. The trnstees have policy of keepifkg any illfmi¢& by WY4y of liquid assets in 8hort-lerm. high interest, easily accessible deposit accounts. The trustees are of th¢ opinion tbat th¢ Charlty doe5 not havc enough res¢rv¥s to ronsidgi. investing in any other ways at pr¢seirt. Reserves polley Th¢ tnts¢¢es hc1ve estHblAshed a policy wher¢by gener&1 funds whlch fire not invested or committ¢d to fixed assets should r¢prasent between 3 and 6 months of B¢n¢ial expenditure, averdging between £30.000 and £60,000 in reserve funds. At this levol, tlie trwgteES f¢lt th¢ charity woiild be able to opei'&te in the event of a sub5tantiAI shortage of income. The wmpany did not achieve the et this y¢ar and liad -£40,81 I bLbind th¢ffl. The year ended 31 MaTch 2025 is the eighth fu]1 of year of trading after a substantial irstrncthring programme, which is to keep a tight IK>ld on ov¢rheads, keep a low nwnbei. of fuil time staff &nLI using freelance consultants to coniplete pi'ojects. The Company genei'ated a deficAt of £168.705 in tbe year aftéi. taking out tlie defined beiiefit pension costs .The fil)(al ststenients are prep&r¢d oil the assumptioii that tbe fj1141.ity will carry on as a going coiioern. Funds In delleit Tlir Gharity's results are reported in the S'tatement of Flnancial Adiviti¢s on page 8. The net d¢ficit or surplus from ordiiwy 8btivitie5, bBfore 10s5es a¢cordiiig io insurance statistitis on the pension sohemc, ghows a deficAt of £137,705. This is aft¢r a loss on the p¢n8ion of £3,000 (2024 loss of £5,000). The trustees take the view that the PEiision schenie liabilities have been appropriately allowed for and are nfIdent that the deficit will be wiped out over the IoiJB i¢rm. FUTURE PLANS In bTiet]y, ieslrncturing the statTIng plan by rediicing tbe number of employ¢d staff and establish a core team of consultants. The now struLtui'e will allow the company to continue to maintain and grow its capacity to carry oirt projeots wliile keeping coi)trol of its ¢osts. Tlie company will prioritize growth, througli wini)ii)g new projects. STRUCTURE, GOVERNANCE AND MANAGEMENr Governing doLument The charity is a company limited by gu817nte¢ wAthout sbares as defjned by lh¢ Companies Act 2006. li was incorporatgd on 25th Mar¢h 1993 and beoan]¢ a r¢gistered Charity on the 9th Jiine 2009. Page I
rtof forth¢Y Ended31 M r 2025 STRucfuRE, COVKRNANCK AND MANACEMKNT Recruitment and appointment of new trusltes Members of the board of trustees (who Éur also directots of the ohai'ity for th¢ pwpose of ¢ompany'5 legislation) who served dllriiig tlie year and on thg date of the report and noted Above. A tLile¢ is appointed by tlie members in ttii annual e¢tiThg or by the Irustees when tt p05t becomes vacant. There must be at least three trustees biit thei'e is no rnaximum. Organisationlstrllcre A meeting of the board is held every quarter. The trustees l)av¢ appointed an administrative director to man¥Trge the charity's day-to-day activities. The bo8JYI members guarp411te¢ to contribute a maxin)um of £1 to conipaiiy's &9sets shoLild the ¢OJllpany be wound up. Inductlon And training of new trusteos When tiew trustees al'e appointed, they aye provided with information oil Élieir dutie5 and responsibilities. Tl)is iAoludes training iii coimpany procedures and poliLie5 including an asscssm¢iit of their training nc6115. The ChilY has a poliry or off¢ring specific trainirtg to ¢very tNsl¢e on hi5 or her role and responsibilities. REFIREI NCC AND ADMINISTIiATIVE DETAII Registered Company number 02803324 (Englmnd and Wal¢s> Registered Charlty number 1130052 Registered office Ui)eil 3 Parc Busnes Aberarad Cast¢ll Newydd Bmly Sir GE SA38 9DB Trttstses G loan D R Davies S Wiltiams A L Jones E tKwis S F,av¢s CM Tomos S M Tonios Compxby Secretary K E Jones Jndependent Ex8mlner Ashmol¢ & Co. Chartered Certified Acwunlants The Old School The Quay Camianlien Carmarthenshire SA3 I JLN JIAnktrs NaÉwest 4 Heol Fawr Aberteifi C¢r¢digion SA43 INW PAg¢ 2
ort of the Trustees r the Year Ended 31 h2 25 Approved by ol'der of the board of truste¢s on .......... and sigt)ed on its behalf by: GI. G Ioan- Trustee Page 3
lftde 6nd¢nt Examinerfs Re laith C to ti ¢ Ti'u e¢ ndependeJJt exjminer's report to tlie trustec5 of liith Cyfyngedig ('the Compllny,) I port to the cliarity trustees on my examiiiation of the aGLounts of the COpanY for the year ended 31 Marcli 2025. Re$pongibilitiw bllsis of report As the Gharity's trustees of the Ctsnipany (and also its dii'¢¢iors fK)i the prSeS of compaiiy law} you are respoiisible for the Prep.atiOn of the account5 in &ccoi'danLe with the rGquir¢ments of the Companies A¢t 2006 ('th¢ 2006 Act,). Having %Llisfied myself that the accounts of th6 Company (ve not required io bts audited uiider Part 16 of th¢ 2006 Act and are eligibl¢ for indcpelld¢nt' ¢xamination, I teport 1¢spt of my examination of your Lharitys ac¢ounts as carried out under Seb*ion 145 of the Charities Act 2011 ('the 201 I AGV), In carrying out rlly examination I have followed the Directions given by the Charity Commission wider Section 145(5) (b) of the 201 l Act. itndependent Qxaminor's statement I hav¢ completed my examinatioll. I 1)rM thal Tho matters have conie to my attention in connection with tli¢ exanjination giving me Gae to believe: auwuntiDg e0rdS Vre not kept in iYspe¢t of the Compatiy as required by Sectioii 386 of the 2006 Atst or the awounts do not accoNI with those reGords' or the aceount5 do not wmply with the accountiiig i'gquiremciits of Section 396 of the 2006 otber than any requirement that the a¢wiwts give a true and fair view which is not a maller Gonsid¢red as part of an independent examinatioi)" or the aGcounts have not been pr¢pared aOrdanCe with the metbods and principles of th¢ Statement of Recoinmended Prnctice for acGountingY and rwrtiiig by GharitLeS (applicable to charities preparing their abcounts ii) ac¢ordaThce with the Financial Reporting Siandard applicable in the UK aiid Republi¢ of Ireland (FRS 102)). I l)ave no con¢erns &i)d have come 2cross iio oth¢r rnattei's xn connection with tlie exaniination to whiLI) attention sbould be drawn in this r¢poAt iIi ord¢r to en4blc a proper und'standing of the a¢counts to be reached. Carwyn Morgan Bsc FCCA Ashmole & Co. Chartered Certified Accountants Thg Old Scljool The Quay Carmarthei) Carlnarthenshire SA313LN Date: ... PagG 4
Statemen of Financi ActAvities e Year End 31 M'Ch 2025 31.3.25 Total rund8 31.3.24 Totsl fuiids Unrestricted fuiid Restricted fund Notes INCOME AiYD ENDOWMENTS FROM Corona Virn income and grants 29,660 29ffi60 ChAril'ible xdivil'ies Projects 190067 190,867 407.454 Inv¢5tment income 208 208 54 Total 220,735 22D,735 407,5D8 XPENDrruRK ON Rai8ing funds 1,629 ChArAtsble ac(ivllie5 Projects 358.440 358,440 368,840 358,440 358A40 370,469 NET tNCOMEI(II XPENDrruRE) Ol'her recognised gainsl(lusses) Actuarial gains oil defiiied b]efit scli¢iii¢s (137,705) (137,705) 37,039 27S,0011 275,IKIO 215,000 Npt movem*nt ltt funds 137,295 137295 252,039 RECONCILIATION of4 FUJYDS Total fujids brought forww'd 669,017 669,017 416,978 TOTAL FUNDS CARIUED FORWARD 806J12 806?12 669,017 The not¢s forni pait of th¢8e fiThancial statemei Page 5
ithc nce sIt arch 2025 31 31.3.25 TotDI fund 31.3.24 Total funds Unrestricted fuiid Restricted fund Not¢s FIXED ASSETS Tangible assets 478 478 1.601 CiTRREwf ASSETS Debtors Cash at banlc and in hand 42942 300 42,942 300 109.482 87,257 43,242 43,242 196,739 CREDITORS AnUllts fajling due within oJJe yvar (122,408) (L22,408) (108,323) NII T CURRENT ASSETW(LJABILITIES) (79,166) C19,166) 88,416 TOTAL ASSM LESS CURRENT LIABILITIES (78,688) (78,688) 90,017 PENSION AsS{T 885,11011 885,000 579.000 IYEIT ASSETS 806J12 806J12 669,OJ7 FUNDS Unrestricted funds 10 806,3J2 669,017 TOTAL ITUNDS 806,312 669,017 Th¢ charitable Gompany is entitled to exen)ption froThi audil undei. Section 477 of the Companies Act 2006 for the year ended 31 March 2025. Ttie members tsav¢ not required the company io obtsill fffj audit of its fittancial atat¢mGnts for the year ended 31 Mar¢h 2025 in accordanoe with Section 476 of ilie Companies Act 2006. Tli¢ triistees acknowledge their resw>iisibilities for (a) ensuring th&t the charitable conipany keq)s accountiiig rccords thai comply with Sections 386 387 of the Compani¢5 Act 2006 and pr¢paring ftAancAal statements whiLli give a true aiid fair view of the st&tr of affairs of Ihe ohAritsble company at the end of eaoh flivcIal year and of its surplus or deficit for each finaiitsial year in accordance with the rwuirem¢nts of S6¢tioiis 394 and 395 and which otherwise comply with the r¢quireihenls of the Companies Act 2006 relating to fLAancial statements, so far as appliLuble to the charitabl¢ cO(npany. (b) The iteS form part of these finaiicial statemgnts Paxe 6 continued...
ait Balance Slieet- arch 2025 inue Thgse financial statem¢nts have been prepared iii accordan¢¢ with tlie provisio8 applicable to charitsble companies subject to the sinau ¢ompani¢s regiine. The fiiMnGial statements were approved by the Board of Triistees and authorised for issue and were sigiicd on its belialf by: on G loan- Trustee The notes form part of thes6 fLnancial statements Page 7
laith Notes to the Finw)ci fort Year E ded 3 tements TArcb 2025 ACCOUNTINC POLICIES Bpsis of preparlng the fmgneial statemonts Th¢ fin4ncial stateinents of the charitable company, Ivhiknh is ll piiblic bonefit entity under FRS 102, have been propared in aGGord&n¢e with the Cliarities SORP {FRS' 102) 'AG¢ounting and Reportiftbi by Charities: Statement of Recon)mended Pr¢1Ctice applicable to charities preparing their Aecounts in l01'dan(C with the Fitythii¢ial Reporting Starjdard appliGable in the UK atld Republi¢ of Ir#land (FRS 102) (eff¢otive l Jalluary 2019),, Fiiiw]Gial Reportiiig Staiidard 102 The Financial K¢porting St&ndard appli¢able u) the UK and Republic of Ir¢land' and the Companies Act 2006. The financial statements hNve been prepared under the histoi'i¢al cost onvention. ri InanclAI reporting stsDdard 102- roduLYd dr10sre exempl'ions The charit4bl¢ compwiy has taken advantage of th¢ following disclosure ex¢rnptiollS in preparing these fjnanGial statemei)ts. &s pei'mitted by FRS 102 'Tlie Financial Reporlihg Standard applicable iii thL UK ld Kcpublic of STelalld': the tequirenients of Section 7 StaÉement of Cash Flows. the requirement of parwHpth 3.17(d)' the requir¢meiits of pardLiraphs 11.42. 11.44, 11.45, L1.47, 11.48(aXiii}, 11.48{a)(iv), 11.48(b) ]d 11.48(c)' tbe requirenients of p&r8gr2phs 12.26, 12,27, 1229{a). 12.29(b) and 12.29A' th¢ requirement of parngraph 33.7. Income All income is recognised in th¢ Stst¢ment of Financial Activities onGe the charity has ¢ntitlement to the funds, it is probable that the income will be received and the amount can be measured lIablY. Exi)endlture Liabilities al'e rognised as expeLiditure as soon as there is a legui or constrLicliv¢ obligatioii committitsg the charity to that exp¢nditure, it is pi'obable that a trnnsf¢r of economic nefItS will bo I'equired in 3ettlem¢nt and d)e amount of the obligation oan b¢ measured reliably. Expendityre is a¢coiuit¢d ftir oil an accruals basis and has been Classified iindei. headings that &ggr¢gate all cost related to the category. Where costs cannot be dir¢¢tly attriblllcd to particular Iieadings tliey ha beeii alloGated to activities on a basis ¢onsiskn?t with the use of resources. Tangible fixed Assets D¢pre¢iation is provided at the following anniwj rates in order to write off each asset over its estimated useful lif¢. Fixtures and fittlngs Computer gquipm¢At 200/0 on cost 33Yo on Gost Tax*tion Th¢ chw'ity is exempt from coipoi%tlOLI tax on its ¢haritable activities. lind #ccounling Unrestricted fjjnds can be usd in ac¢ordance witli th¢ charltable objective5 at the discretion of th¢ tru5t¢es. Restrictsd funds can only be used for particulw regtricted purposes within the obje¢ls of thr charlty. R¢stricliorts arise when specified by the donor or wh¢n furnds are r8i5ed for patiGular restricted PUfpDses. Further ¢xplanatioi) of the nature and purpose of ¢aoli fLwd is included in the IlOt¢s to the fiiian¢ial Statements. Hlre purchAse And leasing eommltments Rentals paid under op¢Tating leases are ch&rged to the Statement of Financial A¢tivitffies on a straight line basis over tlie period of the lease. Page 8 continu¢d...
laith C to the Fin ial Statemelltg- continued Endd 31 March 2025 ACCOUNTJNG POLICILS- ¢ontinued Pension Cost5 And other post-retfirement b¢n¢flts The ohai'itable Mpally operntes a defined contribution p¢nsion scheme. Contributions payable to the charitable comyartvs pension scheme are charged to the Finan¢iAI Activities in ihe period to Mdiicli they i'elat¢, INV.ESfMENT INCOME 31.3.25 31.3.24 Deposit account Irtterest 208 54 NEI T INCOMEI(KXPENDITURE) Net inwmeJ(eXpIditure) 19 5tat¢d after chaiEinBI(cr¢ditiiig): 31.3.25 31.3.24 Auditors, r¢n)w)er&tion Oth¢r assurance serviceg Depreoiation - owii¢d agset8 Travelling 1,000 2,207 1.123 6,582 ,000 1,965 2,119 5,692 TRUSTEES, RKMUNERATION AND BENEFfTS Therv were no trustees, remuneration or other benefits for the year ejided 31 March 2025 nor for th¢ ycar cnded 31 March 2024. Trustee5' expensey Tliere werc no trustees, expenses paid for the year ended 31 March 2025 nor for the yeai. elided 31 March 2024, srAFF cosrs The ave17g¢ monthly number of employces during the year was as follows.. 31J.25 31.3.24 Project Support No rmployees re¢¢ived emolum¢nls in exbess of £60,000. Page 9 ¢ontinued..
ithc tes o fti for ¢Y¢ Fina r Ende Ic h202 ANG[BL 17IXlI D ASSIC]3 Fixtiires thd filtings Compiiler equipnient Totals cosr At l April 2024 and 31 March 2025 51,191 54,593 105,784 DEPRECIATION At l April 2024 Charge ftir year 51,191 52992 1,123 104,183 1,123 At 31 Ptarch 2025 51,191 54,115 105,306 NII T BOOK VALUE At 31 2025 478 478 At 31 March 2024 1.601 DEnRS. AMOUTrITS FALLINC DUE WITHIN ONLI YEI AR 31.3.25 31.3.24 Trade debtors 42,942 109,482 CREDITORS: AMOUNTb' FALLING DUE WITHIN ONLI YKAR 31.3.25 31.3.24 Bank loan8 and ov¢rdrnfts (see note 9) OtlieL loans (see note 9} Trade crixlitors Social security aThd other taxes VAT Other creditors ArGrll¢d expenses 41,106 20,737 26,313 lQ,182 16,858 &2A2 2,000 30,730 23,687 5,447 41,817 4,642 10(io 122,408 108,323 LOANS An analysis of the maturity of loans is given below. 31.3.25 3l.3.24 Amounts falliiig due within oiie year on demat)d: Bank overdrafts Other loans Loans due within 2-5 years 41,106 10,817 9,920 9,749 20,981 61,843 30,73Q Page 10 continued,..
Iaith N tes to the Fiiiaiicia thé Year Bnded 3 ents - continued March 2025 MOVEMEIYT IN FUNDS N¢t rnovenien¢ in funds At 31.3.25 Al 1.4.24 tjnrestricted fund8 Geiieral fuiid 669,017 137,295 806012 TOTAL FUNDS 669,017 137A9S 806,312 Net movement in funds, Arjcliided in the 41bov¢ are hs follows: Inwming r¢sources Resources expended G1n5 and 05ses Movement in fwids Unrestricted funds General fund 220,735 (358,44 275,ObO 137,295 TOTAL FUNDS 220,735 1358,440) 275,000 137295 Comp8ratiY¢S for moven)en¢ Sn fullds Net movement in funds At 31.3.24 At 1,4,23 Ullrestrieted fund5 Geiieral fund 416,978 252,039 669,017 TOTAL FUNDS 4L6,978 252,039 669.017 Comparative net movemeot in funds, included in the above are as follows.. Incoming Re50wres expeiided Gains arjd losse8 Movement in funds Vni'estrlcted thnds Cvgneral fund 407,503 (370,469) 215,000 252,039 TOTAL FUNDS 407,508 (370,469) 215,000 251039 Pagell Continued...
otss to tl)e fin for eye Ic al Sta ¢inei) 31 March 2025 nu io. MOVEMENT IN WUNDS- contiThued A oiwrenl y¢ar 12 tnonths aNd pi'lOT ye4Y 12 rnontbs wmbined position is as follows: Net movement in funds At 31.3.25 At A,4.23 Unrestrlcled funds Gelleral fund 416,978 J89,334 806,312 TOTAL FUNDS 416,978 389,334 806J12 A current year 12 months and prior year 12 months Lombined n¥t rnovetneiit in funds, included An the above are as follows.. Resourcgs exp¢nd¢d Gaiiis and losses Movenient in fui)ds rOUrce Unrestyicled funds Genernl fund 628,243 {728.909) 490,000 389,334 TOTAL FUNDS 628,243 (728,909) 490,1)00 389,334 CMPLOYEE BEIYEFFf OBLIGATIONS 31,3.25 31.3.24 Mtrket value of the assets Preseiit vale of the liabllities (2,181,000) 3,066.00 (2,405,000) 2,948,000 Surplus in the peiision schvm RELATKD PARTY DISCLOSUk]LS There were no r¢lated pw trwiwtions for the yw ended 31 Mh 2025. 885,000 579,000 112. Page 12
Detaile tatemeDt of e Year Endd 31 inaiici l Activitie5 2025 31.3.25 31.3.24 INCOME AND ENDOWMEI NTS Corona VITUS income and grants 29,660 tnvestment income Deposit account interest 54 208 Charlknble activities Edii¢ation and training Research Con5ultan¢y 59,574 71,621 59,672 84,282 182,402 140,770 190,867 407,454 Total ineorning YesourccB 220,735 407,508 XPENDITURE Other trAding activiti Bad debts 1,629 Charilabl¢ Aetlvities Wages Social security Pls1¢)S Travellin Development and res¢arch fees 215,817 17,565 41,635 6,582 39,946 208,956 16.701 42,897 5,692 53,584 321,545 327.830 Support costs Maua%ement Wages Social security Pensions Rat¢s and watsr Insurnicr LAghl and heat T¢lephone Postage and stationery Suiidries Hire of rooLllS Rep&iis and i'eiiewals Subsrriptions Incom¢ PTOt¢¢tion fte Donatioi]s Con]put¢r maint¢nanGe Carried forward 22,280 1,819 6,328 4,987 1,881 2,12A 504 2,406 2,018 1,487 136 227 2,D45 70 9,472 57,781 20.295 1,149 4,010 5,121 2.016 J,925 482 2898 1.316 650 150 1,224 1,908 50 9,154 51,948 This page does not form part ofthe statutory financial statcm¢nts Pag¢ J3
lai Detailed S t me It of fin for the Year Ended 31 ar vi Les 25 31.3.25 31.3.24 Management Brought forward Computer equipm¢nt Expected r¢tum on peiisioii scheme a5s¢ts Intsrest on pension schem¢ liabilities 57,781 1,123 (146,000) IJ 8,000 51,948 2,118 (129,000) 111,000 30,904 36,066 nAnce Baiik Charges 2,129 1,090 Govern4nee cost5 Auditors, r¢tnunoration Auditor5, remuneration for non audit work Bank loan interest 1,000 2,207 655 1,000 1,965 889 3,862 3,854 Total resources expended 358,440 370,469 Net (expenditui'e)Ilncome (137,705) 37,039 This page does not form part of the statutory financial statements Pag¢ 14