REGISTERED COMPANY NUMBER= 07605068 (England and Wales)
REGISTERED CHARITY NUMBER: 1145230
Wales Federation of Youn
Farmers Clubs
Re
rt of the Trustees and
Audited Financial Statements
for the Year Ended 31st March 2025
Ashmole & Co (Statutory Auditor)
Chartered Certified Accountants & Registered
Auditors
9 Broad Street
Llandovery
Carmarthenshire
SA20 OAR

Wales Federation of Youn
Farmers Club5
Contents of the Financial Statements
for the Year Ended 31st March 2025
Page
Report of the Trustees
I to 10
Report of the Independent Auditors
11 to 14
Statement of Financial Activities
IS to 16
Balance Sheet
17 to 18
Cash Flow Statement
19
Notes to the Cash Flow Statement
20
Notes to the Financial Statements
21 to 40
Detailed Statement of Financial Activities
41 to 42

Wales Federation of Youn
Farmers Club5
Re
isteied nuniber: 07605068
Re
ort of the Trustees
for the Year Ended 31st March 2025
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 31st March 2025. 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 IFRS 1021 (effective I13nu3ry 20191.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the company as described in the Memorandijm and Articles of Association are to advance
the education and personal development of young members of the public. whilst providing and promoting
the provision of facilities for recreation and other leisure time occupations. through both the mediums of
Welsh and English.
The objectives for 2024 - 2025 were:
l. To advance the education and personal development of young members of the public at large in
agriculture, rural life and affairs, international understandin& home crafts, the environment and related
subjects.. and
2. In the interests of the social welfare of such members. to provide and promote the provision of facilities
for recreation and other leisure time occupations, being facilities which will improve their spiritual and
mental capacities. health and well-being, raise awareness. self-reliance and individual responsibility so that
they may develop as individuals into full citizens.
3. To promote its activities through ihe mediums of Welsh and English and to ensure those activities
enhance the members, understanding and knowledge of Welsh Rtjral Life. Welsh Culture and the Welsh
Language, along with providing an understanding of other cultures.
Public benefit
The trustees confirm that they have complted with their duty in sertion 17151 of the 2011 Charities Act
with regard to the Charity Commission's general guidance on publi¢ benefit when revièwirhg the Charity's
objeciives and in planning of future activities.
Page I

Wales Federation of Youn
Farmers Clubs
Re
istered number= 07605068
Re
rt of the Trustees
for the Year Ended 31st March 2025
STRATEGIC REPORT
Achievements and performance
Wales YFC delivered on its objectives for 2024- 2025. most notably by the following.
l. Delivery of and support for the various meetings of the Wales YFC Board of Trustees. to conduct the
business of the organisation.
2. Delivery of and support for at least three meetings of each of the Federations sub committees, namely.
Council
Competitions,
- Youth Forum.
Rural Affairs,
International.
Personnel and Rerrhuneration. and
Event5 and Marketing.
3. Delivery and 5UPPOrt of the Wale5 YFC Staff Association meetings and the support to regional staff via
the Wales YFC Staff Conference.
4. Delivery of a bilingual competitions programme offering over 100 opportunities for young people to
advance their education and personal development.
S. An increased social media presence in support of improved communications within the membership and
wider supporter network.
6. Supporting the development of the Welsh language within the organisation. by working closely with the
Welsh Government's Welsh language division irb their aim to reach a million Welsh speakers by 2050.
7. Representation at external meetings relevant to the development of the YFC in Wales. These have
included: NFU Cymru, FUW, Welsh Government, W3le5 Farm Safely Partnership and CWVYS.
8. Di$5emination of information to County Federations and YFC clubs relevant to furthering the objects of
the organisztion.
9. RepTesentstion of the Federation at Rural Youth Europe meetings and events.
10. Contribution to the future development of the youth Service in Wales through an active involvement in
the work of CWVYS.
11. SupportinE the development of the organisation's staff team through a programme of training and
supervision.
12. The continued development of the Wales YFC website.
13. The continued delivery of the Wales YFC lamb irhitiative. in conjunttion with Dunbia and Sainsbury's.
14. Collaborative work with the Federations sponsors. enabling the delivery of opportunities to members
of the organi5ation.
Page 2

Wales Federation of Youn Farmers Clubs
Re
istered number- 07605068
Re
rt of the TfU5tees
for the Year Ended 31st Marth 2025
15. Delivery of an international travel programme that offers individual and group travel opportunities to
YFC members across Wales.
16. Partnership development with organisations such as DPJ FoundatK>n. FCN. Tir Dewi and the Samaritans.
Financial review
Financial position
Total closing funds as at 31 March 2025 were £707.082 12024.. 516.1751. A surplus of £190,907 is mainlv
attributable to income of £163,151 received during the financial year from the funds of T M Meredith
Legacy.
Restricted funds at the year end were £262,14912024= £218,967). Restricted funds comprise mainly of the
balance remaining in respect of the T M Meredith Legacy which is being reduced each year in 15ne with
amortization of the head lease of the office, together with the balance of any grants unspent as at the year
end.
Unrestricted funds at the year end were £444,93312024.. £297,208). Included within unrestricted reserves
is a designated balance of £99,637 relating to Buy a Brick campaign. This balance has been designated to
cover the cost of refurbishing the Wales YFC Centre. A detailed breakdown can be found in note 19.
Principal funding sources
The charity did not undertake any fundraising artivities during the reporting period. DLtring this reporting
period the Charity ha5 been funded from 3 number of sources-
Funding to promote and develop the use of the Welsh language is provided by the Welsh Government.
This grant is regarded as a iestricted fund.
Membership levy. 50% of the membership levy from the ten County Federations affiliated to NFYFC is
paid to Wales YFC and 100% of the membership levy is paid by the two County Federations affiliated
directly to Wales.
- The Federation's sponsorship programme
Funding provided by Welsh Government from the Strategic Voluntary Youth Work Grant. This grant is
regarded as a restricted fund.
Donations provided from the NFU Charitable Trust to be used to further and develop our programmes of
works.
Investment policy and objectives
The trustees, investment powers are governed by the Memorandum and Aittcle5 of Association. The
trustees have decided upon a policy of investing money in low-risk bank accounts with the highest possible
return of interest. The trustees continue to monitor growth and performance of the investments.
Page 3

Wales Federation of Youn
Farmers Clubs
Re
istered number: 07605068
Re ort of the Trustees
for the Year Ended 31st March 2025
STRATEGIC REPORT
Financial review
Reserves policy
The Board of Trustees has established a policy whereby the unrestricted funds not committed or invested
in tangible fixed asset5, i.e. the free reserves, held by the orgarhisation Should equate to the equivalent of
between three and six months resources expended which directly relates to the running of the annual
programme of activities. Based on the current years expenditure this equates to between £144.976 and
£289,952. At this level the trustees feel that they would be able to continue the cuirent activities of the
organisation in the event of a significant drop in income.
The Trustees are mindful that the present level of free reserves falls within the target. At present the free
reserves amount to £283,421 and the trustees, aim is to increase the reserves through exploring
investment and the implementation of a new fund4ng strategy.
The policy is reviewed on an annual basis by the board of trustees.
Restricted reserves
Restricted reserves are funds, not yet expended, provided for a specific purpose stipulated by the donor or
funder, and cannot be used for the general purpose of Charity. Such fund5 do not imply that there has been
an under spend but may result from a variety of circumstances, including timing differences. In certain
circurnstances the Charity may choose to contribute funds which are otherwise unrestrrcted. tow3rd5
projects which are primarily financed from restricted funds.
Page 4

Wales Federation of Youn
Farmers Clubs
Re
istered number: 07605068
Re
ort of the Trustees
for the Year Ended 31st March 2025
STRATEGIC REPORT
Future Developments
l. Wales YFC will continue to ensure the objectives of the organisation are met in line with the wishes of
the membership, through consultation and debate through the Council ol members and its network of sub
committees.
2. The newly appointed board of trustees manages the organi5ation to indude the strategic direction of the
Federation.
3. Wales YFC will continue to develop its partr)ership work in all areas of influence for the organisation.
4. The organisation will continue to review and develop innovative competitions and opportunities for rural
young people who choose to be part of the YFC.
5. Work will be undertaken to strengthen the organi5ations links with Welsh Government, ensuring that
the voice of rural young people is heard at 3 national level, with particular focus on the area of youth work,
agriculture and Welsh language. With further consultation happening with regards to the sustainable
Farming scheme.
6. Development of the organisations support of the Welsh Language and the development of a strategy to
support the Welsh Governments target of one million Welsh speakers by 2050.
7. New funding streams will be considered and developed. whilst continuing to ensure that the current
streams ale maintained.
8. The development of new links with other rural youth organisation 3cr05s Europe and the world.
9. Policies will continue to be reviewed with operational plans put into place for each section of work.
10. NFU Charitable Trust ha5 committed to support the Rural Affairs programme through the conference
and study tour as well committing support for the international programme and other programmes of
work.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Governing do¢ument
The charity is controlled by its governing document. a Memorandum and Articles of association and is
constituted as a company limited by guarantee registered in England and Wales. as defined by the
Companies Act 2006.
Wales YFC is a charitable company limited by guarantee incorporated on 14 April 2011 and registered as 3
Charity on 23 December 2011. The company was established under a Memorandum of association which
established the objects and powers of the charitable company and is governed by the Articles of
association. These Memorandum and Articles of association were adopted by special resolution on the 21
September 2024. In the event of the company being wound up. the members are required to Contribute an
amount not exceeding £10.
Page 5

Wales Federation of Youn Farmers Clubs
Re
istered number: 07605068
ort of the Trustees
for the Year Ended 31st March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of Trustees
The directors of the company are also charity trustees for the purpose of Charity Law and under the
Company s Articles and are known as the Board of Trustees. Under the requirements of the Memorandum
and Articles of Association. the Board is elected every year at the first Council meeting. The Board of
Trustees consists of up to 11 representatives all elected by the Q>uncil annually. A chair, the Chair of
Council and Vice chair of Council, the retiring chair of Council, 3 independent members of non YFC age, and
four membe¥s of YFC age.
Organisational structure
The Board of Trustees meets at least three times a year and is responsible for the strategic dirertion and
policy of the charitable company. The Board reports to the Council which is made up of 3 YFC Members per
tounty and co-opted member5. There are five subcommittees responsible for their respective areas of
work. A staff team supports the Board, Council and subcommittee5 Ill the delivery of the organisation's
objects.
The Chief Executive Officer for the year ended 31 March 2025 was Mared Rand lones.
The Council Chair for the year ended 31 March 2025 was Dewi Davies.
The Chair of the Soard of Trustees for the ye3r ended 31 March 2025 was Stephen Hughson.
Trustee indu¢tion & training
All members of the Board receive a pack of information at first appointment that includes all relevant
company documents and guidance from the Charity Commission on the responsibilities of trustees I
directors. Trustees were signposted to training opportunities and regular information related to charity and
company changes of law and updates are shared.
Pay and remuneration
The charity Is committed to ensuring that salaries are in line with the Living Wage Foundation's
recommended rate of pay.
Annual pay reviews and increases are delegated to the board of trustees.
Risk management
The Tiustees have a duty to identify and review thè risks to which ihe charity is exposed and to ensLJre
appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees have conducted their own review of the major risks to which the Charity is exposed, and
systems have been established to mitigate those risks. These procedures are reviewed periodically to
ensure they still tneet the needs of the Charitv.
In the event that future grants ère not forthcoming ther) there is a risk that the charity may cease
operations. The Trustees will be taking further steps in the coming yea¥ to secure the future of the charitv.
The Trustees. having reviewed the charily and its systems, have concluded that thi5 constitute5 the main
risk to the charity.
Page 6

Wales Federation of Youn
Farmers Clubs
Re istered number: 07605068
Re
ort of the Trustees
for the Year Ended 31st March 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07605068 IEngland and Wales)
Registered Charity number
1145230
Registered office
Wales YFC Centre
Llanelwedd
Builth Wells
LD2 3NJ
Page 7

Wales Federation of Youn
Farmers Clubs
Re
istered number= 07605068
Re
ort of the Trustees
for the Year Ended 31st Marth 2025
Trustees
Dewi Davie5
Niall Evans
Hilary lones
Rhys Richards
Aled Thomas
Angharad Thomas
Dominic Hampson-Smith13ppointed 30.10.2024
Stephen Hughson (appointed 30.10.20241
Alun Jones (appointed 30.10.20241
Kathryn Jones (appointed 30.10.20241
Huw Rowlands (appointed 30.10.20241
Laura Bowyer Iresigned 08.05.20241
Hafina Cordiner (resigned 30.10.20241
Katie Davies (resigned 30.10.20241
Sioned Davies Ire5igned 30.10.20241
Delun Evans (resigned 30.10.20241
Hefin Evans (resigned 30.10.20241
Sion Evans Iresigned 30.10.20241
Ella Harries Iresigned 30.10.20241
Will Hughes (resigned 30.10.20241
Elin Calan Jones Ire5igned 29.10.20241
Caryl Haf lones (resigned 30.10.20241
Dafydd Jones Iresigned 30.10.20241
Dan Jones (resigned 30.10.20241
Iw3fb Meirion Jones (resigned 30.10.20241
Jayne lones (resigned 30.10.20241
Tomos Lewis Iresigned 30.10.20241
Kate Eleri Miles (resigned 30.10.20241
Catrin Medi Owen Iresigned 30.10.20241
Amy Phillips (resigned 30.10.20241
Hedd Pugh Iresigned 30.10.20241
Aled Thoma5 (resigned 30.10.20241
Alun Thomas (resigned 30.10.20241
Gwen Thomas (resigned 30.10.20241
Meinir Tomos Parry Iresigned 30.10.20241
Kate Thoma5 (resigned 30.10.20241
Caitlin Harley (resigned 30.10.20241
Caryl lones Iresigrhed 30.10.20241
Gethin Lewis Ire5igned 30.10.20241
Ryan Watkins (resigned 30.10.20241
Sian Healey (resigned 30.10.2024}
Sarah Lewis (resigned 30.10.20241
Mared Evans (resigned 30.10.20241
Angharad Davies (resigned 30.10.20241
Aled lones Iresigned 30.10.20241
Iw3rn Parry Iresigned 30.10.20241
Sioned Wyn lones (resigned 30.10.20241
Iw3n Harper (resigned 30.10.20241
Page 8

Wales Federation of Youn
Farmeys Clubs
Re
istered number: 07605068
Re ort of the Trustees
tor the Year Ended 31st March 2025
Emily Morgan Iresigned 30.10.20241
Andrew joseph Iresigned 30.10.20241
Ifan Davies (resigned 30.10.20241
Tomos Griff iths (resigned 30.10.20241
Marc Grilfiths Iresigned 30.10.20241
Terrie Savage (resigned 30.10.20241
Bethan Jenkins Iresigned 30.10.20241
Sian Davies Iresigned 30.10.20241
Sally Griffiths (resigned 30.10.20241
Manon Rowlands (resigned 08.05.20241
Caryl Hughes (resigned 30.10.20241
lan Rickman Iresigned 30.10.20241
Elin Lewis Iresigned 30.10.20241
Aled Rhy5 lones (resigned 30.10.20241
Laura Morgan (resigned 29.10.20241
Ian Thomas Rickman Iresigned 30.10.20241
Company Secretary
Mrs C Powell
Auditors
Ashmole & Co1Statutory Auditorl
Chartered Certified Accountants & Registered
Auditors
9 Broad Street
Llandovery
Carmarthenshire
SA20 OAR
Bankers
Natwest
27 High Street
Brecon
Powys
L03 7LF
Solicitors
ICP Solicitors
Suite 9
9th Floor
Brunel House
Fit2alan Rts3d
Cardiff
CF24 OEB
P38e 9

Wales Federation of Youn
Farmers Clubs
Re
istered number: 07605068
Re
ort of the Trustees
for the Year Ended 31st March 2025
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees Iwho are also the directors of Wales Federation of Young Farmers Clubs for the purposes of
company lawl are responsible for preparing the Report of the Trustees and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally
Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each linancial year which give a true
and fair view of the state of affairs of the charitable company and of the incoming resources and
application of resources, including the income and expenditure. of the charitable company for that period.
In preparing those financial statements, the trustees are required to
select suitable accounting policies and then apply them consistently."
observe thè methods and principles in thè Charity SORP,.
make judgements and estimates that are reasonable and prudent,.
prepare the financial statements on the going concern basis unless it is inappropriate to p￿sume that the
charitable company will continue in business.
The trustees are responsible for keeping proper a¢¢ounting records which disclose with reasonable
accuracy at any time the financial position of the charitable company and io enable them to ensure that
the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding
the assets of the charitable company and hence for taking reasonable steps for the prevention and
detection of fraud and
other irregularities.
In so far as the trustees are aware:
there is no relevant audit information of which the charitable company's auditors are unaware,. and
the trustees have taken all steps that they ought to have taken to rnake themselves aware of any relevant
3udit information and to establish that the auditor$ are aware of that information.
AUDITORS
The auditors, Ashmole & Co (Statutory Auditorl. will be proposed for re-appointment at the forthcoming
Annual General Meeting.
Report of the trustees, incorporatin
company directors. on ...
astr
tegic r
ort. approved by order of the board of trustees, as the
and signed on the board's behalf by=
Mr sIIughsoo(Chairl -
rtjstee
Page 10

Re
rt of the Inde
endent Auditors to the Trustees of
Wale5 Federation of Youn
Farmers Clubs
Opinion
We have audited the financial statements of Wales Federation of Young Farmers Clubs (the 'charitable
company'l for the year ended 315t March 2025 which comprise the Statement of Financial Activities, the
Balance Sheet. the Cash Flow Statement and notes to the financial statements. including a summary of
significant accounting policies. The financial reporting framework that has been applied in their preparation
is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland,.
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31st March 2025 and of its
incoming resources and application of resources. including its income and expenditufe. for the year then
ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accountin
Practice, including Financi31 Reporting Standard 102 'The Financi31 Reporting Standard applicable in the
UK and Republic of Ireland,. and
have been prepared in accordance with the requirements of the Companies Art 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable 13w. Our responsibilities under those standards are further described in the Auditors,
responsibilities for the audit of the financial statement5 section of oui report. We are independent of the
¢h6ritable company in accordance with the ethical requirements that are relevant to our audit of the
financial statements in ihe UK. including the FRC'5 Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basi5 of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events
or conditions that. individually or collectively. may cast sigr)ificant doubt on the charitable company's
ability to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in
the relevant sections of this report.
Page 11

Re
ort of the Inde
endenl Auditors to theTrustees of
Wales Federation of Youn
Farmers Clubs
Other information
The trustees are responsible for the other information. The other inlormation comprises the information
included in the Annual Report. other than the financial statements and our Report of the Independent
Auditors thereon.
Our opinion on the financial statements does not cover the other infoimation and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with OLJr audit of the financial statements. our responsibility is to read the other information
and, in doing so. consider whether the other information is materially inconsistent with the financial
statements or our knowledge obtained in the audit or otherwise appears to be materially mi5Stated. If we
identify such material inconsistencies or apparent material misstatements, we are required to determine
whether this gives rise to a material misstatement in the financial statements themselves. If, based on the
work we have performed, we conclude thal there is a material misstatement of thi5 Other information, we
are required lo report that fact. We have nothing to report in this regard.
Matters on whi¢h we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion..
the information given in the Report of the Trustees is inconsistent in any material respect with the
financial statements.. or
the charitable company has not kept adequate accounting records. or
the financial statements are not in agreement with the accounting record5 and returns- or
we have not received all the information and explanations we require lor our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustee5' Responsibilities, the trustees Iwho are also the
directors of the charitable company for the purposes of company lawl are responsible for the preparation
of the financial statements and for being satisfied that they Eive a true and fair view. and for such internal
control as the trustees determine is necessary to enable the preparation of financial statements th31 are
free from materÉal mi$5tatement. whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable company's
ability to continue as a going concein. disclosin& as applicable. matters related to going concern and Using
the going concern basis of accounting unle55 the trustees either intend to liquidate the charitable companv
or to cease operations, or have no realistic alternative but to do so.
Page 12

Re
ort of the Inde
endent Auditors to the Trustees of
Wale5 Federation of Youn
Farmers Clubs
Our rèsponslbillties for the audit of the finan¢ial statements
We have been appointed as auditors under Section 144 of the Charities Act 20113nd report in accordance
with the Act and relevant regulations made or having effect thereundei.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent
Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not 3
guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material wisstatement
when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and
non-compliance with laws and regulations, we considered the following=
nature of the charity and the sector in which it operates.
the legal and regulatory framework in which the charity operates. and in particular those laws and
regulations that directly affect the fEnancial statements or have a fundamental effect on operations eg
Charilies Act 2011. health and safety legislation.
results ol enquiries of management and those charged with governance
any matters identified relating to the charity's policies and procedures for identifying. evaluating and
complying with laws and regulations, and whether there were any known instances of non cO￿pIlance.
detecting and responding to the risks of fraud and whether there is any knowledge of actual, suspected or
alleged fraud.
the internal controls established to mitigate risks of fraud or non cornpllance with laws and regulations.
A5 a result of these procedures. we consider the most significant laws and regulations that have a direct
impact on the financial statements are SORP 102. and the Companies Act 2006. We performed audit
procedures to detect non-compliance which may have a material impact on the financial statements which
included reviewing financial statement disclosure5.
The audit engagement team identified the risk of management override of controls as an area where the
financial statements were m05t susceptible to material misstatement due to fraud. Audit procedures
performed included bLSt were not limited to evaluating the business rationale in relation to any significant,
unusual transactions and transactions entered into outside the normal course of business.
In addition to the above, our procedures included=
reviewing the financi31 slatement disclosures and testing to supporting documentation to assess
compliance with relevant laws and regulations
enquire5 of management and those charged with governance concerning actual and potential litigation
and claims
performing analytical procedures to identify any unusual or unexpected relationship5 that may indicate
risks of material mi55tatement due to fraud
review of minutes of committee meetings
written representations
A further description of our responsibililies for the audit of the financial statement5 is located on the
Financial Reporting Council's website at www.frc.orE.uk/auditorsresponsibilities. This description forms
part of our Report of the Independent Auditors.
Page 13

Re
ort of the Inde
endent Auditors to the fru5tees of
Wales Federation of Youn
Farmers Clubs
Use of our report
This report is made solely to the charitable company's trustees. as a body. in accordance with Part 4 of the
Charitie5 IAccounts and Reportsl Regulations 2008. Our audit work has been undertaken so that we might
state to the charitable comparTry's trustees those matters we are required to state to them in an auditors,
report and for no other puipose. To the fullest eytent permitted by law, we do not accept or assume
responsibility to anyone other than the charitable company and the charitable company's trustees as a
body, for our audit work, for this report, or for the opinions we have formed.
AshmolÈ & Co (Statutory Auditor)
Chartered Certified Accouritants & Registered
Auditors
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
9 Broad Street
Llandovery
Carmarthenshire
SA20 OAR
Date..
Page 14

Wales Federation of Youn
Famers Clubs
Statement of Finaftcial Artivtties
for the Year Ended 31st March 2025
31.3.25
Total
funds
31.3.24
Total
funds
Unrestricted Restricted
funds
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
47,006
163.151
210,157
43,614
Charitable activities
Grants and General Event5
AGM
International
Youth Forum
Sports Day
Rural Affairs
Royal Welsh Show
Spring Festival
Winter Fair
Public Speaking
Field Dav
Entertainment Feast
Eisteddfod
Larnb Marketing
94,529
3,890
90.011
859
85
21,630
647
258,230
352.759
3,890
90,011
859
85
21,630
647
346,992
2,060
116.166
4,625
25
34,289
2.969
673
330
20
1.982
11,706
12.694
3,907
725
30
2,550
26.047
9,524
4.199
725
30
2.550
26,047
9.524
4,199
Other trading activities
Investment income
43.136
4,561
43,136
4,561
56,366
3,734
Total
349,429
421.381
770.810
642.152
EXPENDITURE ON
Raising funds
8,913
10.086
18.999
37.542
Charitable activities
Grants and General Events
AGM
International
Youth Forum
Sports Dav
Rural Affair5
Training
Marketing
Royal Welsh Show
Spring Festival
Winter Fair
Public Speaking
Field Day
Entertainment Feast
Eisteddfod
Lamb Marketing
84,824
4,293
114,804
800
1.397
42,177
278
7,565
17,681
114
3,233
983
4,584
16,647
11.563
1,050
177,610
1,508
3,154
397
1.370
22,347
331
19,031
9,221
211
3,622
262.434
5,801
117.958
1,197
2.767
64,524
609
26.596
26,902
325
6,855
983
6,678
18,526
17.699
1,050
240.463
5,992
126.336
11,846
4.272
65,000
2,937
33,758
58,617
3.379
5,912
2,947
8,460
10,298
25.491
1,430
2.094
1.879
6.136
The notes form part of these financial statements
Page IS

Wales Federation of Youn
Farmers Club5
Statement of Financial Activitie5
for the Year Ended 31st March 2025
31.3.25
Total
funds
31.3.24
Total
funds
Unrestricted Restricted
funds
funds
Notes
Total
320,906
258,997
579,903
644.680
NET INCOMEIIEXPENDITUREI
Transfers between funds
28.523
119,202
162.384
1119,2021
190,907
12,5281
19
Net movement in funds
147.725
43.182
190,907
12.5281
RECONCILIATION OF FUNDS
Total funds brought forward
297,208
218.967
516,175
518,703
TOTAL FUNDS CARRIED FORWARD
444,933
262,149
707.082
516.175
The rhotes form part of these financial statements
Page 16

Wales Federation of Youn
Farmers Clubs
Re
istered number: 07605068
Balance Sheet
31st March 2025
31.3.25
Total
funds
31.3.24
Total
funds
Unrestricted Restricted
funds
funds
Notes
FIXED ASSETS
Tangible assets
15
14.288
72,493
86,781
91,499
CURRENT ASSETS
Stocks
Debtors
Cash at bank
16
17
7.025
76.350
378.518
7,025
104,393
598,982
2.464
103,964
406,351
28.043
220,464
461.893
248,507
710,400
512,779
CREDifoRS
Amounts falling due within one year
18
131,2481
158.8511
190,0991
188,1031
NET CURRENT ASSETS
430,645
189,656
620,301
424,676
TOTAL ASSETS LESS CURRENT LIABILITIES
444.933
262,149
707.082
516,175
NET ASSETS
444,933
262.149
707,082
516.175
FUNDS
Unrestricted funds
Restricted fund5
19
444.933
262.149
297,208
218.967
TOTAL FUNDS
707,082
516.175
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006
for the year ended 31st March 2025.
The members have not deposited notice, pursu3nt to Section 476 of the Companies Act 2006 requiring an
audit of these financial stalements.
The trustees acknowledge their responsibilities for
ensuring that the charitable company keeps accounting records that comply with Sections 386 and
387 of the Companies Act 2(K)6 and
preparing finarhcial 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 Acl 2006 relating to financial statements, so far as applicable to the
charitable company.
Ibl
The notes form part of these financial statements
Page 17
continued...

Wales Federation of Youn
Farmers Clubs
Re
istered number: 07605068
Balance Sheet- continued
31st March 2025
These financial statements h3ve been audited under the requirements ol Section 145 of the Charities Act
2011.
The financial statements were approved by the Board of Trustees and authorised for i55ue on
and were signed on its behalf by=
Mr D Davies- Trustee
Mr-&Hu hson (Chairl
Trustee
The notes form part of these financial statements
Page 18

Wales Federation of Youn Farmers Clubs
Cash Flow Statement
for the Year Ended 31st March 2025
31.3.25
31.3.24
Notes
Cash flows from operating activities
Cash generared from operations
Interest paid
188,261
1191)
114,0911
1381
Net cash provided by/lused inl operatirhg activities
188.070
114,1291
Cash Itows from investing activities
Purchase of tangible fixed assets
Interest received
12,7881
3.734
4.561
Net cash provided by investing activities
4.561
946
Change In ¢a5h and cash equivalents in
the reporting period
Cash and ¢ash equivalents at the
beginning of the reporting period
192,631
113,1831
406.351
419,534
Cash and cash equivalents at the end
of the reporting period
598,982
406,351
The notes form part of these financial statements
Page 19

Wales Federation of Youn
Farmers Clubs
Notes to the Cash Flow Statement
lor the Year Ended 31st March 2025
RECONCILIATION OF NET INCOMEI{EXPENDITUREI TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.3.25
31.3.24
Net incomel{expenditurel tor the reporting period las per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Increase in stocks
Increase in debtors
Increase in creditors
190,907
12,5281
4,718
14,5611
191
14.5611
14291
1.996
4,73S
13,7341
38
162,5661
49.963
Net cash provided byl{used in) operations
188.261
114.0911
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24
Cash flow
At 31.3.2S
Net cash
Cash at bank
41%,351
192,631
598,982
406,351
192,631
598,982
Total
406,351
192,631
598,982
The notes lorm part of these financial statements
Page 20

Wales Federation of Youn
Farmers Clubs
Note5 to the Financial Statements
for the Year Ended 31st March 2025
ACCOUNTING POLICIES
Basls of preparing the financial statement5
The financial statements of the charitable company. which is 3 public benefit entity under FRS 102,
have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting bv
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 IFRS
1021 leffective l January 20191,. 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.
Grant and service level agreement income are only recogni5ed in the Statement of Financial
Activities when the general income recognition criteria are met. In the ¢a5e of performance related
grants, income is only recognised to the extend that the charity has provided the specified goods
and services. Capital grants are recorded irh the Statement of Financial Activities in the yea¥ of
receipt.
Donations are accounted when received by the charity.
For legacies, entitlement is taken at the earlier of the date on which either. the charity is aware that
probate has been granted, the estate has been finalized and notifitation has been made by the
executor that a distribution will be made, or when a distribution is received form the estate. Receipt
of a legacy. in whole or in part. is only considered probable when the amount can be measured
reliably and the chaTlty has been notified of the executor's intention to make a distribution. Where
legacie5 have been notified of the charity. or the charity is aware of the granling of probate. and the
criteria for income recognition has not been met, then the legacy is treated 35 a contingent asset
and disclosed if material.
Investment income is recognised ht the time the investment income is receivable.
Turnover is recorded net of any applicable VAT.
Expenditvre
Liabilities are recognised as expenditure as soon as there is a leg31 or constrijctive obligation
committing the charity to thal expenditure, it is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured ieliably. Expenditure is
accounted for on an accrua15 basis and has been c135sified 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.
Allocation and apportionment of Costs
Support costs have been allocated to each activity based on a percentsge proportion of direct staff
time.
Page21
continued...

Wales Federation of Youn
Farmers Clubs
Note5 to the Financial Statements- continued
for the Year Ended 31st March 2025
ACCOUNTING POLICIES- continued
Intangible assets
Amortisation is provided at 33% per annum in order to write off each asset over its estimated useful
Tangible fixed assets
Depreciation is provided èt the following annual rates in order to write off each asset over its
estimated useful life.
Long leasehold
Improvements to Property
Promotional & Field Equipment
Fixtures & Fittings
Office & Computer Equipment
2% on cost and Over the period of the lease
Over the period of the lease
- 20% on cost
15% on cost
- 33.3% on cost and 15%on cost
The leasehold purchased during the year ended 31st March 2019 will be written off evenly over the
rernaining 33 years of the original 100 year lease term.
Generally the trustees do no capitalise any fixed assets below £lOO.
Sto¢ks
stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds carh be used in accordance with the charitable objectives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted purp95e5 Wlthin the objects of the charity.
Restrictions arise when specifie(J by the donor Of 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.
Voluntary help
The value of services provided by volunteers has not been incI￿led in the accounts.
Cash at bank in hand
Cash at bank 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 sirllilar account.
Debtors
Trbde and other debtors are recognised at the settlement amount due.
Page 22
continued..

Wales Federation of Youn
Farmers aubs
Notes to the Financial Statements- continued
for the Year Ended 31st March 2025
ACCOUNTING POLICIES- ¢ontinued
Creditors and provisions
Creditors and provision 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. Cre(litors and provisions are normallv
recogni5ed at their settlement amount after allowing for any trade discounts due.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. B35ic finarhcial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised c05t using the effective interest method.
Going concern
The Trustee5 consider that there are no material uncertainties about the charity's ability to continue
as a going concern nor any significant areas of uncertainty that affect the carrying value of assets
held by the charity.
Pension costs and other p05t-retirement benefits
The charity operates a defined contribution pension scheme. Contiibution5 payable to the charity's
pension scheme are charged to the Statement of Financial Activities in the period to which thev
relate.
Income recognition- Re analysis of income
The analysi5 of income between 'Donations and legacies" and 'Charitable activities" have been
reviewed and updated based on the trustees. current interpreiation of the Charilies SORP IFRS 1021.
The trustees consider it appropriate to reanalyse the comparatives in line with the Current
interpretation to ensure clarity for the readers of the financial statements. There has been no
change to the total comparative income, therefore the trustees have not deemed it necess3ry to
resubmit the prior year accounts.
DONATIONS AND LEGACIES
31.3.25
31.3.24
Donaiions
General donations
NFU Charitable Trust
Legacies
T M Meredith Legacy
16,006
31.000
13.614
30,000
163,151
210,157
43,614
Page 23
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements- continued
for the Year Ended 31st March 2025
OTHER TRADING ACTIVITIES
31.3.25
31.3.24
Merchandise
Sponsorships
Meeting room
5,631
34.442
3,063
1,803
50.3L19
4,254
43,136
56,366
INVESTMENT INCOME
31.3.25
31.3.24
Deposit account interest
4,561
3,734
INCOME FROM CHARITABLE ACTIVITIES
31.3.25
31.3.24
Activity
Grants and General Events
Grants and General Events
Grants and General Events
Grants and Gerheral Events
Grants and General Events
AGM
International
Youth Forum
Sports Day
Rural Affairs
Royal Welsh Show
Spring Festival
Winter Fair
Public Speaking
Field Day
Entertainment Feast
Eisteddfod
Lamb Marketing
Income from events
Other in¢ome
Levies
Direct Affiliation
Grants
Income from events
Income from events
Income from events
Income from events
Income from events
Income f¥om events
Income from events
Income from event5
Income from events
Income from event5
Income from events
Income from events
Income from events
10,029
9,500
71,902
12,598
248,730
3.890
90,011
859
85
21.630
647
13,556
24,000
59,909
5.774
243,753
2,060
116,166
4,625
25
34,289
2,969
673
330
20
1,982
11,706
12,694
3,907
725
30
2.550
26,047
9.524
4,199
512,956
538,438
Grants received. included in the above, are as follows-
31.3.25
31.3.24
Strategic Voluntary Youth Work Organisation
Welsh Government - Development and Welsh Promotion
112,171
124.719
102.824
124,719
Carried forward
236,890
227.543
Page 24
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements- continued
for the Year Ended 31st March 2025
INCOME FROM CHARITABLE ACTIVITIES- continued
31.3.25
31.3.24
Brought forward
Lottery Awards for All
Book5 Council of Wales
Welsh Leacners Grant
Moondance Foundation
236,890
6,840
227,543
3.710
10,000
2.500
248,730
243,753
Included within Internation31 income for the year ended 31 March 2025 are the following amounts
relating to trips taking place post year end=
Patagonia
£36.000
Belfast
£3.530
Holland
£6.768
Barcelona
£5.446
Mystery Trip £6.106
RAISING FUNDS
31.3.25 31.3.24
Staff costs
Purchases stock and merchandise
Bad Debt
Support Costs Inote 91
13,114
5,617
9,838
8,185
9,021
10,498
268
18,999 37,542
Page 25
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements- continued
for the Year Ended 31st March 2025
CHARITABLE ACTIVITIES COSTS
Direct
C05t$1see
note 81
Support
costs (see
note 91
Totals
Grants and General Events
AGM
International
Youth Forum
Sports Day
Rural Affairs
80.819
5.S39
117.770
1,152
2.722
62,714
181.615
262
188
45
45
1,810
262,434
5,801
117,958
1,197
2,767
64.524
[ lil
Training
Marketing
Royal Welsh Show
Spring Festival
Winter Fair
Public Speaking
Field Day
Entertainment Feast
Eisteddfod
Lamb Marketing
564
25,663
25.890
225
6.749
983
6.469
18,481
17.213
1,050
45
933
1.012
100
106
609
26,596
26,902
325
6,855
983
6,678
18,526
17,699
1,050
209
45
486
374,003
186,901
560,904
DIRECT COSTS OF CHARITABLE ACTIVITIES
31.3.25
31.3.24
Staff costs
Payments to county federations
Travelling & accommodation
Translation costs
Charitable event costs
93,600
62.817
139.637
3,896
74.053
111,426
91.418
159,760
2.770
75,669
374.003
441,043
Included within International expenses for the year ended 31 March 2025 are the following amounts
relating to Irips taking place post year end:
Patagonia
£43,200
Belfast
£1,600
Holland
£5,897
Barcelona
£1.2(10
Mystery Trip £6.425
Page 26
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements- tontinued
for the Year Ended 31st March 2025
SUPPORT COSTS
Governance
costs
Management
Totals
Raising donations and legacies
Grant5 and General Events
AGM
International
Youth Forum
Sports Day
Rural Affairs
Training
Marketing
Royal Welsh Show
Spring Festival
Winter Fair
Field Day
Entertainment Feast
Eisteddfod
268
181,615
262
188
45
45
1.810
45
933
1,012
loo
106
209
45
486
157,325
262
24,290
45
45
1,810
45
933
1,012
l(M)
106
209
45
486
162.879
24.290
187,169
Activity
Management
Governance costs
Basis of allocation
% proportion of staff time
Management
Included in governance is £7,25012024.. £6.8501 for Auditor's remuneration.
10. INCOME/(EXPENDITUREI
Net incomellexpenditurel is stated after chargingllcreditingl-.
Auditors, remuneration
Depreciation- Owned assets
31.3.25
7,250
4,718
31.3.24
6,850
4.735
Page 27
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements - continued
for the Year Ended 31st March 2025
ii.
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees. remurheration or other benefits for the year ended 31 March 2025 nor for
the year ended 31 March 2024.
Trustees. expenses
The charity reimbursed E939.52 of expenses to two trustees in respect of travelling expenses and
out of pocket expenses ijuring the year enijed 31 March 202512024..£542.701.
12. STAFF COSTS
31.3.25
31.3.24
Wages and salaries
223,865
201,308
223,86S
201,308
The average monthly number of employees during the year was as follows=
31.3.25
31.3.24
Chief Executive
Administration
No employees received emoluments in exce55 of £60,000.
Employment costs
31.3.25
31.3.24
Wages and salarie5
Social security costs
Employer pension costs
206.239
13,339
4.287
186,159
11,262
3.887
223.865
201,308
There were no employees whose annual emoluments were £60.OIX) or more.
Page 28
continued...

Wales Federation of Youn
Fam)ers Clubs
Note5 to the Financial Statements- continued
for the Year Ended 31st March 2025
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted
funds
funds
Total
fund5
INCOME AND ENDOWMENTS FROM
Donations and legacies
43.613
43,614
Charitable activities
Grants and General Events
AGM
International
Youth Forum
Sports Dav
Rural Affairs
Royal Welsh Show
Spring Festival
Winter Fair
Public Speaking
Field Dav
Entertainment Feast
Eisteddfod
Lamb Marketing
103,239
2.060
116,166
4.625
25
34.289
2,969
673
330
20
1.982
11.706
12,694
3.907
243,753
346,992
2,060
116,166
4,625
25
34,289
2,969
673
330
20
1,982
11,706
12.694
3,907
other trading activities
Investment income
56.366
3,734
56,366
3,734
Total
398,398
243,754
642,152
EXPENDITURE ON
R35sing fLJnds
21,654
15.888
37.542
Charitable activities
Grants and General Events
AGM
International
Youth Forum
Sports Day
Rural Affairs
Training
Marketing
Royal Welsh Show
Spring Festival
Winter Fair
Public speaking
Field Dav
Entertainment Feast
Eisteddfod
Lamb Marketing
94,584
3,556
119,853
7,642
1,553
31,344
742
7,764
38,811
824
2,851
1.667
3,959
8,672
18.559
1,430
14S,879
2.436
6,483
4,204
2,719
33,656
2,195
25.994
19,806
2.555
3,061
1,280
4,501
1,626
6.932
240,463
5,992
126.336
11,846
4.272
65,000
2,937
33,758
58,617
3.379
5,912
2.947
8.460
10,298
25.491
1,430
Page 29
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial 5tatements- continued
for the Year Ended 31st March 2025
13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAI ACTIVITIES- continued
Unrestricted Restricted
funds
funds
Total
funds
Total
365,465
279.215
644.680
NET INCOMEIIEXPENDITUREI
32,933
135,4611
12,5281
RECONCILIATION OF FUNDS
Total funds brought forward
264.274
254,429
518,703
TOTAL FUNDS CARRIED FORWARD
297,207
218.968
516.175
14. INTANGIBLE FIXED ASSETS
Website
COST
At 1st April 2024 and 31st March 2025
19,690
AMORTISATION
At 1st April 2024 and 31st March 2025
19,690
NET BOOK VALUE
At 31st March 2025
At 31st March 2024
Page 30
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements- continued
for the Year Ended 31st March 2025
15.
TANGIBLE FIXED ASSETS
Improvements Promotiona
to
& field
equipment
Long
leasehold
property
COST
At 1st April 2024
Disposals
97,987
10.955
10.038
12,1751
At 31st March 2025
97,987
10.955
7,863
OEPRECIATION
At 1st April 2024
Charge for year
Eliminated on disposal
18,870
2.783
1,095
365
10,038
12,1751
At 3151 March 2025
21,653
1.460
7.863
BOOK VALUE
At 31st March 2025
76.334
9,495
At 31st March 2024
79.117
9,860
Fixtures
ar)d
fittings
Computer
equipment
Totals
COST
At 1st April 2024
Disposals
8, 105
{4281
30,509
14.7321
157,594
17.3351
At 31st March 2025
7.677
25,777
150,259
DEPRECIATION
At 1st April 2024
Charge for year
Eliminated orh dispos31
8,105
27,987
1,570
14.7321
66.095
4,718
17.3351
{4281
At 31st March 2025
7.677
24,825
63,478
NET BOOK VALUE
At 31st March 2025
952
86.781
Al 31st March 2024
2.522
91,499
Page 31
continued...

Wales Federation of Youn
Farmers Club5
Notes to the Finantial Statements- continued
for the Year Ended 31st March 2025
16. STOCKS
31.3.25
31.3.24
Stocks
7,025
2,464
17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONEYEAR
31.3.25
31.3.24
Trade debtors
Other debtors
VAT
Prepayments
69,084
28,043
2,961
4.305
69,339
28.043
3,223
3.359
104.393
103.964
18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
31.3.24
Trade creditors
Social security and other taxes
Sundry creditors
Pension fund
Accrued expenses
44.360
5,165
221
916
39.437
5,450
3,393
221
640
78,399
90.099
88.103
Page 32
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements- continued
for the Year Ended 31st March 2025
19. MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
between
fund5
At
31.3.25
At 1.4.24
Unrestricted funds
General Fund
Designated Building Modemisation
Fund
Designated IT Fund
Designated Membership Form Fund
Duke of Edinburgh Awards Scheme
Fund
Recruitment and Retention of
Membership Fund
Database Fund
Elwyn lone5
Training Fund
Buy a Brick Campaign
149.984
28,523
119,202
297.709
25.838
396
2,147
25.838
396
2.147
1.500
1.500
1.51)0
I,soo
3.037
13,168
3,037
13,168
99.637
99,637
297,208
28,523
119.202
444.933
Restricted funds
C T Evan5 - Welsh Drama Fund
Garfield Weston Foundation
T M Meredith Legacy
Wales Cultural Recovery Fund
Moondance Foundation
Lottery Community Fund
Books Council of Wales
Welsh Learners Grant
2,611
10.000
65,461
119.202
2,611
10,000
226,189
160,728
1119.2021
5,000
12,174
3.875
2,300
12.168
7,175
2.350
13,3(Ml)
150)
218,967
162,384
1119,2021
262,149
TOTAL FUNOS
516,175
I￿7,907
707,082
Page 33
continued...

Wales Federation of Youn
Farmer5 Clubs
Note5 to the Financial Statements - continued
for the Year Ended 31st March 2025
19. MOVEMENT IN FUNDS- continued
Net movement in funds. included in the above are as follows..
Incoming
resource5
ResoLrrces
expended
Movement
in funds
Unrestricted funds
General Fund
349,429
1320,9061
28,523
Restricted funds
Development & Welsh Promotion
T IV Meredith Legacv
Strategic Voluntary Youth Work
Organisation
Moondance Foundation
Lottery Community Fund
Summer of Fun
Books Council of Wales
Welsh Learners Grant
124.719
163,151
1124,7191
12,4231
160,728
112,171
5,0(K)
6.840
9,$00
1112.1711
5,000
16.8341
19,5001
13.3001
1501
13.3001
Iso)
421,381
1258,9971
162.384
TOTAL FUNDS
770,810
1579,9031
190,907
Page 34
continued...

Wales Federation of Youn
Farmers aubs
Notes to the Financial Statements- continued
for the Year Ended 31st March 2025
19.
MOVEMENT IN FUNDS-continued
Comparatives for movement in funds
Net
movement
in fund5
At
31.3.24
At 1.4.23
Unrestricted funds
General Fund
Designated Building Modernisation
Fund
Designated IT Fund
Designated Membership Form Fund
Duke of Edinburgh Awards Scheme
Fund
Recruitment and Retention of
Membership Fund
Database Fund
Elwyn lones
Training Fund
Bijy a Brick Campaign
117,050
32,934
149,984
25.838
396
2,147
25,838
396
2,147
1.5
I,soo
1.5
1,500
3.037
13,168
3,037
13.168
99.637
99,637
264.274
32.934
297,208
Restricted funds
Development & Welsh Promotion
C T Evans- Welsh Drama Fund
Powys Association of Voluntary
Organi5ation
Garfield Weslon Foundation
T M Meredith Legacy
Lottery Awards for All
Wales Cultural Recovery Fund
Lottery Community Fund
Books Council of Wales
Welsh Learners Grant
22.888
2,611
122,8881
2,611
127
iO.OOD
67.884
7,889
131.202
11,828
11271
10,000
65,461
12,4231
17,8891
112,0001
340
7.175
2,350
119,202
12.168
7,175
2.350
254,429
135,4621
218,967
TOTAL FUNDS
518.703
12.5281
516,175
Page 35
conlinued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements- continued
for the Year Ended 31st March 2025
19.
MOVEMENT IN FUNDS- continued
Comparative net movement in funds. included in the above are as lollow5-
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General Fund
398.398
1365,4641
32,934
Restricted funds
Development & Welsh Promotion
Powys Association of Voluntary
Organisation
T M Meredith Legacv
Lottery- Awards for All
Strategic Voluntary Youth Work
Organi$3tion
Wales Cultural Recovery Fund
Lottery Community Fund
Books Council of Wales
Welsh Learners Grant
124,720
1147.6081
122.8881
11271
12,4231
17.8891
1127}
12,423}
17.889}
102.824
1102,8241
112,0001
13.3701
12,8251
11501
112,0001
340
7,175
2,350
3.710
10,000
243.754
1279.2161
135,4621
TOTAL FUNDS
642,152
1644.6801
12.5281
Page 36
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements - continued
for the Year Ended 31st March 2025
19.
MOVEMENT IN FUNDS- Continued
A current year 12 months and prior year 12 months combined position is as follows=
Net
movernent
ID funds
Transfers
between
funds
At
31.3.25
At 1.4.23
Unrestricted funds
General Fund
Designated Building Modernisation
Fund
Oesignated IT Fund
Designated Membership Form Fund
Duke of Edinburgh Awards Scheme
Fund
Recruitment and Retention of
Membership Fund
Database Fund
Elwyn lones
Training Fund
Buy a Brick Campaign
117,050
61.457
119.202
297.709
25.838
396
2.147
25.838
396
2.147
1.51x1
1,500
1.500
1.500
3,037
13,168
3.037
13.168
99,637
99.637
264,274
61,457
119,202
444.933
Restricted funds
Development & Welsh Promotion
C T Evans- Welsh Drama Fund
Powys Association of Voluntary
Organisation
Garfield Weston Foundation
T M Meredith Legacy
Lottery- Awards for All
Wales Cultural Recovery Fund
Moondance Foundation
Lottery Community Fund
Books Council of Wales
Welsh Learners Grant
22,888
2.611
122,888)
2,611
127
10,000
67,884
7.889
131,202
1127)
10,000
226.189
158,305
17,8891
12,0001
1119,2021
11,828
346
3.875
2.300
12.174
3,875
2,300
254.429
126.922
1119,2021
262,149
TOTAL FUNDS
518,703
188.379
707,082
Page 37
continued...

Wales Federation of Youn
Farmers Club5
Notes to the Financial Statements - continued
for the Year Ended 31st March 2025
19.
MOVEMENT IN FUNDS- continued
A Current year 12 months and prior year 12 months tombined net movement in funds. included in
the above are 35 follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlcted fund5
General Fund
747,827
1686,3701
61,457
Restricted funds
Development & Welsh Promotion
Powys Association of Voluntary
Organi53tion
T M Meredith Legacy
Lottery- Awards for All
Strategic Voluntary Youth Work
Organisation
Wales Cultural Recovery Fund
Moondance Foundation
Lottery Community Fund
Summer of Fun
Books Council of Wales
We15h Learners Grant
249.439
1272.3271
122.8881
11271
14,8461
17,8891
11271
158,305
17,8891
163,151
214.995
1214.9951
112,0001
112,0001
5,000
346
5.000
10,550
9.500
iO,IXKJ
2.51KI
110,2041
19.5001
16,1251
12LNJI
3,875
2.300
665.135
1538.2131
126.922
TOTAL FUNDS
1.412.962
11.224.583)
188.379
Transfer of lunds:
MoveTnent in funds includes a transfer from restricted funds to unrestricted funds in respect of the
Wales Cultural Recovery Fund. The trustees are satisfied that the necessary approval has been
obtained to reallocate the funds to be used by the Charity for their general charitable activities.
Fund descriptions:
Designated Building Modernisation Fund This is an unrestricted destgnated fund to set aside
unrestricted fund5 for the modernisation of the buil(ling ir) fulure years.
Designated IT Fund - This is an unrestricted designated fund established to upgrade the IT system of
the Wales YFC Centre.
Designated Membership Form Fund
This is an unrestricted designated fund to set aside
unrestricted funds to design and prhnt membership forms for YFC County Federations.
Duke of Edinburgh Awards Fund - This is an urbrestricted designated fund to set aside unrestricted
funds to cover the subscription to (leliver Duke of Edinburgh throughout ihe YFC in Wale5.
Page 38
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements- continued
for the Year Ended 315t March 2025
19.
MOVEMENT IN FUNDS- continued
Recruitment and Retention of Membership Fund This is an unrestricted designated fund to set
aside unrestrirted funds to conduct initial research into the re£ruitment and retention of members,
in a bid to halt declining membership numbers wiihin the movement.
Designated Database Fund This fund has been set up to devefop 3 detailed membership database
lor county federations directly affiliated to the foundation.
Designated Training Fund this is an unrèstricted fund set aside to provide ongoing training to staff
and members.
Development & Welsh Promotion - This is a restricted fund which was set up in 2011 to amalgamate
the development and bi-lingual funds received from the Welsh Government.
C T Evans - Welsh Entertainment Sponsorship- This is restricted for the drama competition held
every three years. The winner receives all interest paid on the capital account.
Garfield Weston - Restricted funds received for the development of a Rural Hub for Enterprise and
Learning in the Wales YFC centre.
8uy a Bfick Campaign
Funds raised during the 'Buy a Brick. campaigTTr, together with voluntary
donations are designated to cover the cost of refurbishing the Wales YFC Centre.
T M Meredith Legacy This is a restricted fund left in the will of the late Mi T M Meredith of Radnor
which ha5 been used to purchase the head lease of the Wales YFC Centre.
The fund5 raisedldonated from the Buy a Brick and T M Meredith fund above exceeded the amount
that was due for the purchase of the head lease of the building. The purchase completed in January
2019 for £79,960. Management and Trustees have decided to use the remaining funds to cover the
cost of refurbishment and maintenance of the Centre.
Wale5 Cultural Recovery Fund This Welsh Government funding is to support with financial
assistance as a result of the Covid-19 outbreak.
SVYWO The Slrategic Voluntary Youth Work Organisation ISVYWOI Grant Scheme lor the SVYWOI
(formally National Voluntary Youth Organisation INVYOI Grant will provide Core funding to support
voluntary youth organi5ations, to provide and develop quality youth work opportunities for young
people in Wales aged 11 to 25_ This grant is restricted to waEe% of the Wales YFC staff.
Lottery Community Fund - This National Lottery funding is to fund the YFC Rural Hub project.
NFU Charitable Trust - donations received from The NFU Mutual Charitable Trust are to advance the
education of young people within rural areas.
Books Council of Wales- This grant supports the production of literary or cultural books. The funding
received through this grant scheme is restricted to 3 writing project which 15 currently ongoing with
the organisation.
Page 39
continued...

Wales Federation of Youn
Farmers Clubs
Notes to the Financial Statements- continued
for the Year Ended 315t March 2025
19.
MOVEMENT IN FUNDS- continued
Welsh Learners Grant - This grant scheme from Gwynedd Youth Service supports the development
of We15h Learners.
Moondance Foundation - The Moondance Foundation offers grant5 to organi53tions and causes that
provide transformational changes in communities in Wales. Wales YFC will be using the money to
complete media training and for Marketing materials and equipment. In preparation for the 90th
year celebrations.
20.
RELATED PARTY DISCIOSURES
There were no related party transartions for the yeaf ended 31st March 2025.
Page 40