## **REPORT OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
Phase 1 of the works - the refurbishment of the Offices- was substantially completed and works commenced on the cafe and heritage area.
Negotiations for the letting of the whole of the Offices to various potential users was commenced and preferred tenants identified.
The overall vision of the Trustees to transform the shed into a hub for cultural, heritage, community and enterprise activities remains and substantial progress has been made to achieve that objective.
As part of Phase 1, 8 Cyfle apprentices were part of the redevelopment of the Office Block with 12 individuals taking part in a pre-apprenticeship work experience scheme delivered by Cyfle as part of the South-West Wales on-site hub work experience program. This is in addition to accommodating a further 50 jobs within the building and construction industry. There was a total of 17 traineeships which lead to individuals going onto either further learning or achieving a paid employment role at the end of their apprenticeship.
There are four key delivery partners who share the vision of the Trust and like the Llanelli Railway Goods Shed Trust are passionate about community regeneration. Each has a proven track record of working with local people and delivering capacity building initiatives with a focus on upskilling people.
Each of these partnerships will provide the Trust with revenue income streams to support the sustainability of the facility in the long term. They are: CYCA Cyfle University of Wales Trinity St David 9including their Coleg Sir Gar campus at Pwll) and IndyCube
Phase 1 has created two jobs based at the Trust: one on a 6-month contract via Kickstart and the other - the Centre Coordinator - on an 18month contract. Both individuals have taken part on ongoing professional development and achieved accredited learning recognition.
The Centre Coordinator supports the Trust in ensuring the smooth transition from construction to operational phase.
Various discussions took place regarding the scope and funding opportunities for the next phase of the project and the Trust is committed to delivering this phase as soon as possible.
**REGISTERED COMPANY NUMBER: 07583629 (England and Wales) REGISTERED CHARITY NUMBER: 1141801**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**FOR**
## **LLANELLI RAILWAY GOODS SHED TRUST**
Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
**LLANELLI RAILWAY GOODS SHED TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Cash Flow Statement**||6||
|**Notes to the Cash Flow Statement**||7||
|**Notes to the Financial Statements**|8|to|15|
|**Detailed Statement of Financial Activities**||16||
**LLANELLI RAILWAY GOODS SHED TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Significant activities and future plans**
Phase 1 of the works - the refurbishment of the Offices- was substantially completed and works commenced on the cafe and heritage area.
Negotiations for the letting of the whole of the Offices to various potential users has commenced and preferred tenants identified.
The overall vision of the Trustees to transform the shed into a hub for cultural, heritage, community and enterprise activities remains, and substantial progress has been made to achieve that objective.
As part of Phase 1, 8 Cyfle apprentices were part of the redevelopment of the Office Block with twelve individuals taking part in a pre-apprenticeship work experience scheme delivered by Cyfle as part of the South-West Wales on-site hub work experience program. This is in addition to accommodating a further fifty jobs within the building and construction industry. There was a total of seventeen traineeships which lead to individuals going onto either further learning or achieving a paid employment role at the end of their apprenticeship.
There are four key delivery partners who share the vision of the Trust and like the Llanelli Railway Goods Shed Trust are enthusiastic about community regeneration. Each has a proven history of collaborating with local people and delivering capacity building initiatives with a focus on upskilling people.
Each of these partnerships will provide the Trust with revenue income streams to support the sustainability of the facility in the long term.
They are: CYCA Cyfle University of Wales Trinity St David (including their Coleg Sir Gar campus at Pwll) and IndyCube
Phase 1 has created two jobs based at the Trust: one on a 6-month contract via Kickstart and the other - the Centre Coordinator - on an 18-month contract. Both individuals have taken part on ongoing professional development and achieved accredited learning recognition.
The Centre Coordinator supports the Trust in ensuring the smooth transition from construction to operational phase.
Various discussions took place regarding the scope and funding opportunities for the next phase of the project and the Trust is committed to delivering this phase as soon as possible.
## **FINANCIAL REVIEW**
## **Financial Position**
During the financial year the charity reported a surplus of £617,344 (2021 surplus £215,770). This was as a result of receiving grants towards the renovation of the railway goods shed.
The unrestricted reserves at 31 March 202 were £8,161 (2021 £1,078) and restricted reserves were £831,652 (2021 £221,391).
## **Reserves policy**
The board has examined the charity's requirements for reserves in respect of the main risks to the organisation and aims to build up reserves in future years to enable it to continue and expand.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
**LLANELLI RAILWAY GOODS SHED TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
The directors of the company are also charity trustees for the purposes of charity law, and in the organisation's Memorandum and Articles are known as the Board.
Elections for the Board take place at the Annual General Meeting.
Members are elected to serve for a period of three years, after which term they are eligible to seek re-election. We aim to ensure that our Board is both representative of the people and communities with whom we work, and has the necessary combined skills and experience to effectively govern the organisation.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
07583629 (England and Wales)
**Registered Charity number** 1141801
## **Registered office**
24 Harries Avenue Llanelli Carmarthenshire SA15 3LF
## **Trustees**
A M Doe N R Griffith G G Parker Rev J E Phillips Y Rodgers R W Roper C F Watson
## **Independent Examiner**
Alison Vickers Institute of Chartered Accountants in England and Wales Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
Approved by order of the board of trustees on 31 January 2023 and signed on its behalf by:
R W Roper - Trustee
Page 2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LLANELLI RAILWAY GOODS SHED TRUST**
## **Independent examiner's report to the trustees of Llanelli Railway Goods Shed Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Alison Vickers Institute of Chartered Accountants in England and Wales Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
31 January 2023
Page 3
## **LLANELLI RAILWAY GOODS SHED TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
5,616
**Charitable activities**
Charitable
-
Other trading activities
4
1,892
**Total**
7,508
**EXPENDITURE ON**
**Charitable activities**
6
Charitable
425
**NET INCOME**
7,083
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
1,078
**TOTAL FUNDS CARRIED FORWARD**
8,161|Restricted
funds
£
-
614,242
-
614,242
3,981
610,261
221,391
831,652|2022
Total
funds
£
5,616
614,242
1,892
621,750
4,406
617,344
222,469
839,813|2021
Total
funds
£
395
243,333
383|
|---|---|---|---|
||||244,111|
||||28,341
215,770
6,699|
||||222,469|
The notes form part of these financial statements
Page 4
## **LLANELLI RAILWAY GOODS SHED TRUST**
## **BALANCE SHEET 31 MARCH 2022**
|Notes
**FIXED ASSETS**
Heritage assets
11
**CURRENT ASSETS**
Debtors
12
Cash at bank
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
15
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
-
-
8,161
8,161
-
8,161
8,161
8,161|Restricted
funds
£
847,151
33,500
21,405
54,905
(70,404)
(15,499)
831,652
831,652|2022
Total
funds
£
847,151
33,500
29,566
63,066
(70,404)
(7,338)
839,813
839,813
8,161
831,652
839,813|2021
Total
funds
£
1
1,112
223,356
224,468
(2,000)
222,468
222,469
222,469
1,078
221,391|
|---|---|---|---|---|
|||||222,469|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 31 January 2023 and were signed on its behalf by:
R W Roper - Trustee
The notes form part of these financial statements
Page 5
## **LLANELLI RAILWAY GOODS SHED TRUST**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022**
|||2022|2021|
|---|---|---|---|
||Notes|£|£|
|**Cash flows from operating activities**||||
|Cash generated from operations|1|653,360|218,658|
|Net cash provided by operating activities||653,360|218,658|
|**Cash flows from investing activities**||||
|Purchase of heritage assets||(847,150)|(1)|
|Net cash used in investing activities||(847,150)|(1)|
|||||
|**Change in cash and cash equivalents in**||||
|**the reporting period**||(193,790)|218,657|
|**Cash and cash equivalents at the**||||
|**beginning of the reporting period**||223,356|4,699|
|**Cash and cash equivalents at the end of**||||
|**the reporting period**||29,566|223,356|
The notes form part of these financial statements
Page 6
## **LLANELLI RAILWAY GOODS SHED TRUST**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING**|**ACTIVITIES**||
|---|---|---|---|---|
||||2022|2021|
||||£|£|
||**Net income for the reporting period (as per the Statement of Financial**||||
||**Activities)**||617,344|215,770|
||**Adjustments for:**||||
||(Increase)/decrease in debtors||(32,388)|888|
||Increase in creditors||68,404|2,000|
||**Net cash provided by operations**||653,360|218,658|
|2.|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|||At 1.4.21|Cash flow|At 31.3.22|
|||£|£|£|
||**Net cash**||||
||Cash at bank|223,356|(193,790)|29,566|
|||223,356|(193,790)|29,566|
||**Total**|223,356|(193,790)|29,566|
The notes form part of these financial statements
Page 7
**LLANELLI RAILWAY GOODS SHED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. STATUTORY INFORMATION**
Llanelli Railway Goods Shed Trust is a charitable company, limited by guarantee, registered in England and Wales. The charity's registered number and registered office address can be found on the Reference and Administrative Details page.
The presentation currency of the financial statements is the Pound Sterling (£).
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Heritage assets**
Heritage assets are initially recognised at cost.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 8
continued...
**LLANELLI RAILWAY GOODS SHED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
|**3.**
**DONATIONS AND LEGACIES**
Donations
Members subscriptions
**4.**
**OTHER TRADING ACTIVITIES**
Fundraising events
Other Income
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Charitable
Grants received, included in the above, are as follows:
Railway Heritage Trust Grant
Carmarthenshire County Council
Llanelli Town Centre
Western Power Distribution
Garfield Weston Foundation
Postcode Lottery Grant
Pilgrim Trust Grant
Great Western Rail Grant
Rain Community Fund
Welsh Government
**6.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs
£
Charitable
1,810
**7.**
**SUPPORT COSTS**
Finance
£
Charitable
96|2022
£
5,551
65
5,616
2022
£
519
1,373
1,892
2022
£
614,242
2022
£
390,000
152,350
-
-
-
9,956
20,000
15,936
1,000
25,000
614,242
Support
costs (see
note 7)
£
2,596
Support
costs
£
2,500|2021
£
330
65
395
2021
£
383
-
383
2021
£
243,333|
|---|---|---|
|||2021
£
-
151,533
300
1,500
90,000
-
-
-
-
-|
|||243,333|
|||Totals
£
4,406
Totals
£
2,596|
Page 9
continued...
**LLANELLI RAILWAY GOODS SHED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **9.**
## **10.**
## **STAFF COSTS**
|Wages and salaries
The average monthly number of employees during the year was as follows:
Administration
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
395
**Charitable activities**
Charitable
300
Other trading activities
383
**Total**
1,078
**EXPENDITURE ON**
**Charitable activities**
Charitable
100
**NET INCOME**
978
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
100
**TOTAL FUNDS CARRIED FORWARD**
1,078|2022
£
1,481
1,481
2022
1
Restricted
funds
£
-
243,033
-
243,033
28,241
214,792
6,599
221,391|2021
£
-
-
2021
-
Total
funds
£
395
243,333
383|
|---|---|---|
|||244,111|
|||28,341
215,770
6,699|
|||222,469|
Page 10
continued...
**LLANELLI RAILWAY GOODS SHED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **11. HERITAGE ASSETS**
|**MARKET VALUE**
At 1 April 2021
Additions
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|Total
£
1
847,150|
|---|---|
||847,151|
||847,151|
||1|
The charity purchased the land and property at former Goods Shed from Network Rail in 2021 for £1. Expenditure incurred in its restoration has been capitalised in the year.
## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|2022
2021
£
£
VAT
33,500
1,112
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
2021
£
£
Other creditors
55,795
1
Accrued expenses
14,609
1,999
70,404
2,000
**SECURED DEBTS**
Carmarthenshire County Council holds a legal charge over the freehold property comprising the former Rail
Goods Shed and adjoining land as security for the payment and discharge of the Secured Obligations for a pe
ending ten years after the date of the final payment of funding.
**MOVEMENT IN FUNDS**
Net
movement
At
At 1.4.21
in funds
31.3.22
£
£
£
**Unrestricted funds**
General fund
1,078
7,083
8,161
**Restricted funds**
Llanelli Town Council - Remembrance Day
Events
399
-
399
Railway Heritage Trust Grant
-
390,000
390,000
Garfield Weston Foundation
70,992
-
70,992
Carmarthenshire County Council - Targeted
Regeneration Investment programme
150,000
148,369
298,369
Welsh Water Rain Community Fund
-
1,000
1,000
Postcode Community Trust
-
9,956
9,956
Pilgrim Trust Grant
-
20,000
20,000
Great Western Limited
-
15,936
15,936
Welsh Government
-
25,000
25,000
221,391
610,261
831,652
**TOTAL FUNDS**
222,469
617,344
839,813|2022
2021
£
£
VAT
33,500
1,112
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
2021
£
£
Other creditors
55,795
1
Accrued expenses
14,609
1,999
70,404
2,000
**SECURED DEBTS**
Carmarthenshire County Council holds a legal charge over the freehold property comprising the former Rail
Goods Shed and adjoining land as security for the payment and discharge of the Secured Obligations for a pe
ending ten years after the date of the final payment of funding.
**MOVEMENT IN FUNDS**
Net
movement
At
At 1.4.21
in funds
31.3.22
£
£
£
**Unrestricted funds**
General fund
1,078
7,083
8,161
**Restricted funds**
Llanelli Town Council - Remembrance Day
Events
399
-
399
Railway Heritage Trust Grant
-
390,000
390,000
Garfield Weston Foundation
70,992
-
70,992
Carmarthenshire County Council - Targeted
Regeneration Investment programme
150,000
148,369
298,369
Welsh Water Rain Community Fund
-
1,000
1,000
Postcode Community Trust
-
9,956
9,956
Pilgrim Trust Grant
-
20,000
20,000
Great Western Limited
-
15,936
15,936
Welsh Government
-
25,000
25,000
221,391
610,261
831,652
**TOTAL FUNDS**
222,469
617,344
839,813||2021
£
1,112|
|---|---|---|---|
||||2021
£
1
1,999|
||||2,000|
||831,652|||
||839,813|||
## **13.**
## **14. SECURED DEBTS**
Carmarthenshire County Council holds a legal charge over the freehold property comprising the former Railway Goods Shed and adjoining land as security for the payment and discharge of the Secured Obligations for a period ending ten years after the date of the final payment of funding.
## **15. MOVEMENT IN FUNDS**
Page 11
continued...
**LLANELLI RAILWAY GOODS SHED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **15. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Carmartheshire County Council
Railway Heritage Trust Grant
Carmarthenshire County Council - Targeted
Regeneration Investment programme
Welsh Water Rain Community Fund
Postcode Community Trust
Pilgrim Trust Grant
Great Western Limited
Welsh Government
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Llanelli Town Council - Remembrance Day
Events
Heritage Lottery fund
Garfield Weston Foundation
Carmarthenshire County Council - Targeted
Regeneration Investment programme
**TOTAL FUNDS**|Incoming
resources
£
7,508
2,350
390,000
150,000
1,000
9,956
20,000
15,936
25,000
614,242
621,750
At 1.4.20
£
100
399
6,200
-
-
6,599
6,699|Resources
Movement
expended
in funds
£
£
(425)
7,083
(2,350)
-
-
390,000
(1,631)
148,369
-
1,000
-
9,956
-
20,000
-
15,936
-
25,000
(3,981)
610,261
(4,406)
617,344
Net
movement
At
in funds
31.3.21
£
£
978
1,078
-
399
(6,200)
-
70,992
70,992
150,000
150,000
214,792
221,391
215,770
222,469|Resources
Movement
expended
in funds
£
£
(425)
7,083
(2,350)
-
-
390,000
(1,631)
148,369
-
1,000
-
9,956
-
20,000
-
15,936
-
25,000
(3,981)
610,261
(4,406)
617,344
Net
movement
At
in funds
31.3.21
£
£
978
1,078
-
399
(6,200)
-
70,992
70,992
150,000
150,000
214,792
221,391
215,770
222,469|
|---|---|---|---|
||||610,261|
||||617,344|
||||At
31.3.21
£
1,078
399
-
70,992
150,000|
||||221,391|
||||222,469|
Page 12
continued...
**LLANELLI RAILWAY GOODS SHED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **15. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
1,078
**Restricted funds**
Heritage Lottery fund
-
Carmarthenshire County Council - Welsh
Church fund
1,533
Western Power Distribution - In This
Together - Community Matters fund
1,500
Garfield Weston Foundation
90,000
Carmarthenshire County Council - Targeted
Regeneration Investment programme
150,000
243,033
**TOTAL FUNDS**
244,111
A current year 12 months and prior year 12 months combined position is as follows:
At 1.4.20
£
**Unrestricted funds**
General fund
100
**Restricted funds**
Llanelli Town Council - Remembrance Day
Events
399
Heritage Lottery fund
6,200
Railway Heritage Trust Grant
-
Garfield Weston Foundation
-
Carmarthenshire County Council - Targeted
Regeneration Investment programme
-
Welsh Water Rain Community Fund
-
Postcode Community Trust
-
Pilgrim Trust Grant
-
Great Western Limited
-
Welsh Government
-
6,599
**TOTAL FUNDS**
6,699|Resources
Movement
expended
in funds
£
£
(100)
978
(6,200)
(6,200)
(1,533)
-
(1,500)
-
(19,008)
70,992
-
150,000
(28,241)
214,792
(28,341)
215,770
Net
movement
At
in funds
31.3.22
£
£
8,061
8,161
-
399
(6,200)
-
390,000
390,000
70,992
70,992
298,369
298,369
1,000
1,000
9,956
9,956
20,000
20,000
15,936
15,936
25,000
25,000
825,053
831,652
833,114
839,813|
|---|---|
Page 13
continued...
**LLANELLI RAILWAY GOODS SHED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **15. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Carmartheshire County Council
Heritage Lottery fund
Railway Heritage Trust Grant
Carmarthenshire County Council - Welsh
Church fund
Western Power Distribution - In This
Together - Community Matters fund
Garfield Weston Foundation
Carmarthenshire County Council - Targeted
Regeneration Investment programme
Welsh Water Rain Community Fund
Postcode Community Trust
Pilgrim Trust Grant
Great Western Limited
Welsh Government
**TOTAL FUNDS**|Incoming
resources
£
8,586
2,350
-
390,000
1,533
1,500
90,000
300,000
1,000
9,956
20,000
15,936
25,000
857,275
865,861|Resources
Movement
expended
in funds
£
£
(525)
8,061
(2,350)
-
(6,200)
(6,200)
-
390,000
(1,533)
-
(1,500)
-
(19,008)
70,992
(1,631)
298,369
-
1,000
-
9,956
-
20,000
-
15,936
-
25,000
(32,222)
825,053
(32,747)
833,114|
|---|---|---|
The following funds are restricted towards the costs for the restoration of Llanelli Railway Goods Shed.
Railway Heritage Trust Carmarthenshire County Council Garfield Weston Foundation Welsh Water Rain Community Fund Postcode Community Trust Pilgrim Trust Grant Great Western Limited Welsh Government
The Llanelli Town Council grant covered the costs of the Remembrance Day events at the Llanelli Railway Goods Shed.
The Heritage Lottery grant financed the production of a new local heritage booklet in the prior year.
## **16.**
|**CAPITAL COMMITMENTS**||||
|---|---|---|---|
||2022||2021|
||£||£|
|Contracted but not provided for in the financial statements||-|768,025|
Page 14
continued...
**LLANELLI RAILWAY GOODS SHED TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **17. RELATED PARTY DISCLOSURES**
During the year, an interest free loan of £20,000 was given by Mr R Roper (trustee) to the charity. This was repaid in full before the year end.
Trustees donations in the year amounted to £3,280. These donations were received without conditions.
Page 15
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LLANELLI RAILWAY GOODS SHED TRUST**
## **Independent examiner's report to the trustees of Llanelli Railway Goods Shed Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Alison Vickers Institute of Chartered Accountants in England and Wales Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
31 January 2023
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