OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Llenyddiaeth Cymru - Literature Wales

2025-03-31-accounts

Registered Company no. 07779153 (Wales and England) Registered Charity no. 1146560

Report of the Trustees and

Audited Financial Statements for the Year Ended 31 March 2025 for Llenyddiaeth Cymru | Literature Wales (a Company Limited by Guarantee)

HSJ Audit, Business and Tax Advisors Severn House Hazell Drive Newport NP10 8FY

Table of Contents

Table of Contents
Page
Trustees’ Report
1. Introducton 3
2. Charitable Purpose 5
2.1 Strategic Report 5
3. Actvity Strand I, Writer Development 7
4. Actvity Strand II, Partcipaton 9
5. Actvity Strand III, Wales’ Literary Culture 10
6. Foundaton Stone: The Welsh Language 12
7. Inspiring Communites Fund 13
8. Tŷ Newydd Programme 15
9. Sector Facilitaton 15
10. Operatons 15
11. Governance 17
12. Reference and Administratve Details 18
13. Report of the Independent Auditors 19
14. Statement of Financial Actvites 23
15. Balance Sheet 25
16. Statement of Cash Flows 26
17. Notes to the Financial Statements 27

2

Trustees Report for the year ended 31 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 31 March 2025. The Trustees have adopted the provisions of accounting and reporting for 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) effective 1 January 2019.

1. INTRODUCTION

We are proud to present this overview of our activities for the year 2024-25 in this Annual Report. This year has been one of consolidation. Whilst a new reality of public sector funding cuts took hold across the sector, we have diversified our income and focused on our core projects, ensuring that we are achieving our vision of empowering, improving, and brightening lives through literature even more effectively.

Collaboration and working in partnership has become crucial in these uncertain times and we’re proud of the new national and international links made this year. For example, we signed an MOU with our long term partners, Books Council of Wales, and worked with them to provide funding for Wales Book of the Year shortlisted writers to hold events in communities across the country. We were also pleased to extend our collaboration with Hay Festival Global, where we hosted a bilingual public event to celebrate Wales Book of the Year, alongside working once again on the vital Writers @ Work scheme. We also made progress on our aim to take Welsh literature global by building a partnership with EUNIC London and their 27-member cultural institutes from across Europe. We’re excited to be hosting a residency in May 2025 where writers of European minority languages will collaborate with Welsh writers at Tŷ Newydd. For us, these kinds of projects are crucial for promoting not only Welsh writers and writing, but also Welsh values across the world.

Another project which shares Welsh culture beyond our borders was Cerdd Tafod Arall | Music from Another Tongue where our National Poet of Wales, Hanan Issa, challenged herself and six other poets to learn about and use cynghanedd in their work. As a Welsh learner, Hanan is passionate about bridging the divide between Welsh-language and English-language writing communities and for this project engaged experts Mererid Hopwood and Eurig Salisbury to share this ‘sophisticated system of sound patterning’ more widely.

Widening access to literary activity is a core tenet of our programmes. With this in mind, this year we piloted Sgwadiau ‘Sgwennu | Writing Squads in Maesteg and Conwy, an extra-curricular writing programme for young people aged 13-16. Its aim is to help young people develop their writing skills, and to establish a community of young writers where new friendships, well-being and ambition will be nurtured. The teenagers took part in school holiday writing sessions led by renowned local authors, and we topped the year off with a residential course at Tŷ Newydd led by Manon Steffan Ros. Building on the successes of this pilot, we hope to roll out these opportunities to more young people in underserved areas of the country in the coming years.

Alongside these exciting projects and partnerships, we continued to ensure effective governance for the charity. Through the year we recruited five new trustees, who bring considerable experience in diverse fields to our Board. Our financial resilience has also improved, with less reliance on funds from public sources. All arts charities are facing huge financial and political challenges at the moment, but our team are proud to be bucking the trend, with an 11% increase in income from a wide variety of sources. We were also able to contribute to the Senedd Culture Committees’ ‘Decade of Cuts’ report which included a successful call for a reversal of cuts to Arts Council Wales for 25/26, and so we’re excited for the year ahead.

3

Consistency of public funding for the arts allows a solid foundation for Llenyddiaeth Cymru | Literature Wales, and the rest of the sector, to use our energy to innovate and support a ‘Wales of Vibrant Culture and Language’ (Goal of the Future Generations Act 2015). We have an excellent staff team and we look forward to being able to show in the next annual report how we’ve expanded programmes, like those outlined in this report, and achieved a deeper impact in communities across Wales.

4

2. CHARITABLE PURPOSE

Wales and worldwide, the promotion of arts, heritage and culture, in particular the literature of Wales in all its forms and languages, including, but not exclusively, by:

The Strategic Report below outlines the ways in which Literature Wales has delivered its charitable purpose during the year.

2.1 STRATEGIC REPORT

Our vision is a Wales where literature empowers, improves and brightens lives.

Literature Wales’s activity is informed by research, allowing us to reach the people who need us most with projects that truly meet their needs. Our rigorous evaluation and stakeholder engagement supports a culture of continuous learning and improvement in our sector and help us to target our own support ever more effectively.

We have identified three strategic priorities , through which we aim to create change in society through literature:

We deliver these priorities through our three strands of activity, which is how we create a vibrant literary society:

5

Foundation Stones

Our advocacy for the Welsh language and for the diverse literary culture of Wales are the foundation stones upon which we have built these priorities and activity strands, all of which align with the goals of the Wellbeing of Future Generations (Wales) Act 2015:

A more equal Wales; A healthier Wales; A resilient Wales; A Wales of cohesive communities; A prosperous Wales; A globally responsible Wales; A Wales of vibrant culture and thriving Welsh language

We recognise that as Wales’ national company for the development of literature, we have a responsibility to demonstrate the highest standards of operational governance, and to demonstrate our values in all the work we deliver and support.

2.2 OUR IMPACT IN NUMBERS

Workshops and participatory activity delivered or funded by Literature Wales attracted 17,517 attendances during 2024/25, of which 5,157 were children and young people

Our Bardd Plant Cymru and Children’s Laureate Wales delivered 92 workshop sessions with 2,402 attendances

Literature Wales delivered or funded 272 talks and Q&As, receiving 11,845 attendances in 2024/25

81 emerging writers from under-represented backgrounds attended 6 strategic courses at Tŷ Newydd National Writing Centre

An additional 42 open courses at Tŷ Newydd (7 Welsh language/ 9 Bilingual / 26 English language) were 781 attended by participants

online resources included 505 people who accessed our Resources for Writers , 4,176 who viewed our Writers of Wales Directory , and 53,600 who engaged with our Land of Legends project

13 of our supported writers accessed our free of charge intensive Welsh language learner courses , delivered in partnership with Canolfan Dysgu Cymraeg Genedlaethol and Nant Gwrtheyrn

Our Inspiring Communities Fund provided grants totalling £41,133 which supported 300 writers to participate in 403 individual events reaching an audience of 14,097 people across Wales

We paid £221,356 in fees and expenses to 196 freelance writers who delivered activity for Literature Wales during the year

8 writers received through the Wales Book of the Year Awards . An additional £6,047 was distributed to shortlisted writers through funding for 27 events

14 writers received bursaries to support their participation in our strategic course, Representing Wales

6

3. ACTIVITY STRAND I, WRITER DEVELOPMENT

Objective: To develop and support a skilled and visionary workforce in the literary sector, by providing opportunities, increasing potential, and championing employment practices

3.1 PROJECT IN FOCUS: SPEAK BACK

Strategic Priority: Representation & Equality

Speak Back supported the development of 14 poets and spoken word artists to develop their craft through a five-day, free-of-charge residential course. It was aimed at under-represented artists who were interested in themes of identity, the climate emergency and climate justice, and social justice within the context of Wales. Taylor Edmonds and Kandace Siobhan Walker tutored the week, with Hollie McNish joining as a guest speaker. The artists spent a morning with industry experts: Daljit Nagra, Vannessa Kisuule and Rhian Edwards before recording professional videos of their performances.

The arts can be a powerful vehicle for change, and spoken word is increasingly gaining the recognition it deserves. In 2022, the artform was recognised by the Grammys with the introduction of a new Award for Best Spoken Word Poetry Album, and in 2023, The Forward Prize introduced a new category for a performance of a poem. But it matters whose voices are heard within this powerful genre and this was our reason for introducing this new course.

Feedback from Participants

At the start of the course, when asked about their confidence to embed climate and nature themes in their work, they reported an average confidence of 54%. After the course, confidence grew to 74%.

“ I have several new works in progress, some themed on identity and others ... focussing on nature and climate effects on a specific location that I am familiar with. Also, I feel more confident about performing these poems to bring them to a wider audience, and about submitting to publication”

“I came away with several starts of new poems, 2 new finished poems and a few in progress, mainly inspired by night walking on the beach and along the river. There is a link between ideas of rematriating the land and expression in the poems”

“My poetry tended to steer away from nature themes, but the workshops opened my eyes to how to better weave a sense of climate emergency inside the themes I'm most comfortable writing. I appreciate how to link climate to the every day, connecting to the reader's every day and bring relatable bite-size reflections on climate, rather than attempting too broad a stroke for a single poem.”

Project partners : Speak Back was delivered with delegated Lottery funding by the Arts Council of Wales and with grant funding from the Foyle Foundation and the Rhys Davies Trust.

7

3.2 PROJECT IN FOCUS: REPRESENTING WALES

Strategic Priority: Representation & Equality

Representing Wales is a twelve-month writer development programme which sits at the heart of our Strategic Programme. It supports a cohort of fourteen writers annually and comprises workshops, masterclasses, writing rooms, mentoring, industry talks and other opportunities. The 2024/25 programme was made possible with delegated Lottery funding through the Arts Council of Wales and grant funding from the Foyle Foundation. It was aimed at writers from under-represented backgrounds, selection was through open call out, with a panel made up of external independent panel members.

The is no charge to participate, and each writer receives a financial award of £3,300 which includes a travel bursary. The award supports them to take time out to write, attend the training sessions, travel to talks and make submissions to competitions. A bespoke 3-year aftercare programme is provided to support each writer’s ongoing development. Since its inception in 2020, 53 writers have participated in Representing Wales with alumni going on to establish thriving careers, for example:

Feedback from Representing Wales Alumni

“ Every single small key detail you could think of - [Representing Wales] has elaborated on everything. And I’ve gone from going I want to be a writer to now […] I understand how to be a writer ”

“ Before starting Representing Wales I didn’t think that writing could be my career. I thought writing was my hobby and now I’m finishing Representing Wales as a full-time freelance writer ”

Project partners : Representing Wales 2024/25 was funded through delegated Lottery funding by the Arts Council of Wales and with grant funding from the Foyle Foundation.

8

4. ACTIVITY STRAND II, PARTICIPATION

Objective: To enable more people in Wales to discover the joys of actively participating in literature, inspiring communities and increasing access to our work.

4.1 PROJECT IN FOCUS: LLÊN MEWN LLE | LIT IN PLACE

Strategic Priorities: Climate Emergency; Representation & Equality; Health & Well-being

Llên mewn Lle | Lit in Place supports creative writing facilitators to design and deliver a project in their local community with a focus on well-being and the environment, and reaching those with least access to the arts. It is run in partnership with WWF Cymru and during 2024/25 two projects have been supported:

Outputs:

Impact :

Feedback

Casia Wiliam describes the Diosg project: “We use writing and literature as a way of getting closer to nature and the environment in our sessions; taking a creative opportunity to explore what nature and the local community mean to us. We look at different styles of writing, look at the work of different writers, hear from local experts and go out to enjoy nature around us in the sessions. A great group attend the sessions and we really benefit from coming together to enjoy, learn and write.”

“Jyst isho dweud diolch am heddiw. Roedd hi'n braf cael cwmni cynnesgalon a bod allan yn chwarae yn y coed, oedd. Ond mwy na hynny, dwi mor falch mod i wedi llwyddo rhoi geiriau ar bapur. Mor anhygoel o hapus am hyn, diolch ti!”

9

“Just wanted to say thank you for today. It was good to have heartwarming company and to be outside playing in the woods. But more than that, I’m so glad to have succeeded in putting words on paper. So unbelievably happy about this, thank you!” (Diosg participant)

“It [the workshop] has made me think more about animals.” (St David’s Primary School pupil)

“Many grateful thank for this wonderful opportunity. We are incredibly grateful and are going to use Nicola's books and the work the pupils have created as a stimulus for our topic on climate change next term.” (Class teacher, St David’s)

“I’d love to do this kind of workshop again. I love the way it is more than just explanations and exercises.” (St David’s community workshop)

“A wonderful workshop giving a new perspective on writing and looking at the natural world in a detailed and thoughtful / mindful way.” (St David’s community workshop)

Project partners : Lit in Place 2024/25 was funded by the Arts Council of Wales, WWF Cymru, WWF Wholescape, Cyngor Gwynedd, the UK Government. It was delivered in partnership with WWF Cymru, Partneriaeth Ogwen, GwyrddNi and EcoDewi.

5. ACTIVITY STRAND III, WALES’ LITERARY CULTURE

Objective: To celebrate the diverse range of contemporary writers and the literary heritage of Wales with the world by creating a platform for a literature which is more relevant and accessible to a wider audience.

5.1 Project in focus: National Poet of Wales, Children’s Laureate Wales, Bardd Plant Cymru Strategic priorities: Representation & Equality, Health and Well-being, Climate Emergency

This was Hanan Issa’s third year as the National Poet for Wales . Her role sees her taking poetry to new audiences, celebrating Wales’s rich literary culture, and encouraging others to use their creative voice to inspire positive change. Among her commissions during this period was ‘The Trees Treasure What We Have Lost’, written for the Covid 19 Memorial Woodland on the Erddig Estate, and ‘Homes That Float’, in response to the climate emergency and the increased flooding experienced by communities across Wales during this period including Pontypridd.

Her project ‘Cerdd Tafod Arall – Music of Another Tongue’ culminated in the publication of an online album of nine new poems written in creative response to the strict-metre tradition of the cynghanedd, and the project featured on the American podcast ‘Poetry off the Shelf’, presented by the Poetry Foundation. The poets (in addition to Hanan) involved in the project were: Gabrielle Bates from Birmingham, Alabama; Mererid Hopwood, Grug Muse, clare e. potter and Eurig Salisbury from Wales; Nick Makoha, who was born in Uganda and is now based in London; Irish poet Ciara Ní É, and Welsh Pakistani writer Hammad Rind.

As Children’s Laureate Wales , Alex travelled across Wales leading workshops and readings aimed at encouraging children and young people to explore the magic and playfulness of language as readers and writers. His projects have focused on reaching young people who have less access to creative writing and reading events. These have included his ‘Green and Carefree Walking Tour’ which saw him walk upwardws of 60 miles through the Bannau Brycheiniog visiting rural primary schools along the way. He led workshops for blind and partially sighted young people with the charity UCAN in Cardiff, culminating in the young people creating their own new audiobooks. Inspired by his grandmother’s work as a foster carer Alex also worked

10

with the charity Voices From Care, delivering a poetry and animation project with a group of care experienced young people.

As Bardd Plant Cymru Nia Morais continues to focus her work around demonstrating how the Welsh language belongs to everyone. Project highlights include the creation and delivery of resources based on ekphrastic poetry to seven primary schools across Wales, in connection with Celf ar y Cyd and the Welsh Charter. Nia also worked with Credu Cymru - a charity that offers opportunities to young carers. Nia visited two schools and facilitated workshops on identity and well-being. Inspired by her feelings of frustration at the situation in Gaza, Nia collaborated with Theatr Cymru to lead a series of online workshops with young people from across Wales and to forge links with Ashtar Theatre in Palestine. This project culminated in a collaborative poem in three languages: Welsh, English, and Arabic. Nia worked with the LGTBQ+ community in connection with the Urdd, drawing on their voices to create a poem which was then used to create a piece of beach art, celebrating the LGTBQ+ community.

The Laureates Programme 2024/25 was funded by : Arts Council of Wales, Books Council of Wales, Boshier Hinton Foundation, Darkley Trust, S4C, Ulverscroft Foundation, Yr Urdd, Welsh Government.

5.2 Project in focus: Wales Book of the Year 2024 Strategic priority: Representation & Equality

The Wales Book of the Year Awards celebrate outstanding literary talent from Wales across many genres and in both English and Welsh. The Awards play a vital role in launching careers, raising profiles and driving sales. In addition to the media attention surrounding the Awards, funding from the Books Council enabled winning and shortlisted authors to arrange events across Wales which further raised the profile of their books.

We received a total of 198 submissions (123 English / 75 Welsh) for the 2024 award, which were judged by an independent panel of eight judges (four in each language). The panels agreed on a Shortlist of three books for each category (Fiction, Poetry, Creative Non-Fiction, Children & Young People), i.e. 24 books in total across both languages. This Shortlist was announced live on BBC Radio Wales and BBC Radio Cymru. The Awards attracted considerable media attention including 37 articles, editorial and interviews on radio, in print and online.

The public were able to vote for their favourite books in the independently run People’s Choice Award and the Welsh language equivalent, Barn y Bobl. The 2024 Awards Ceremony took place on 4 July at Galeri Caernarfon and was attended by 200 guests including authors and representatives from across the literary and publishing industries. The Awards were also live streamed. Sarn Helen by Tom Bullough won the Overall Award in the English language, while Sut i Ddofi Corryn by Mari George won in the Welsh language.

WBOTY 2024 sponsors, partners and funders : AM; Arts Council of Wales; The Books Council of Wales; BBC Cymru Wales; Brecon Carreg; Bute Energy; Cardiff University School of English, Communication and Philosophy; Cwmni Da; Cwrw Llŷn; Golwg360; Hay Festival Global; Nation.Cymru; Penderyn; Rhys Davies Trust.

11

6. FOUNDATION STONE: THE WELSH LANGUAGE

Strategic Priority: Representation & Equality

Objective: Our advocacy for the Welsh language and for the diverse and vibrant culture of Wales are the foundation stones upon which all our priorities and activity strands are built.

During 2024/2025 we delivered a wide range of Welsh-language projects aimed at encouraging a thriving Welsh language literary scene. Nia Morais’s work as Bardd Plant Cymru is described above, as is the Welsh language Wales Book of the Year Awards. Many of the emerging writers participating in our Strategic Programme were also able to take advantage of the free Welsh language tuition we offered in partnership with Nant Gwrtheyrn. Additional activity included:

Pencerdd

Pencerdd supports Welsh language poets to develop their skills in the ancient craft of cynganeddu and the programme is run in partnership with Barddas. The aim is to develop poets who are new to the tradition and to nurture new voices and perspectives within the cynganeddu tradition in Wales, raising the profile of the canu caeth scene. The cohort started with a week-long residential course under the tutelage of Ceri Wyn Jones and Mererid Hopwood before being paired with a Mentor to continue their literary journey with oneto-one mentoring sessions over the following year.

Ffrindiau Bardd Plant Cymru (Friends of the Bardd Plant)

This project took six authors, including Nia Morais, into 36 schools across Wales to lead Welsh language creative writing and reading workshops. The poets were Gwennan Evans, Sioned Erin Hughes, Natalie Jones, Mari Lovgreen, Nia Morais and Rebecca Wilson. Mali Williams, teacher and educational consultant, led a training session before the workshops, focusing on the ways that creative writing activities can support literacy skills for primary school pupils. The writers also benefited from a session led by former Children’s Laureate Wales Eloise Williams, as well as training in safeguarding and sharing of other best practice

resources.

Pupils’ Feedback:

“I feel happy, I’ve enjoyed every part of today, thank you”

“I really enjoyed writing the story and I hope we can do this again”

“I thought the workshop was going to be boring but I loved it”

“Reading the story was like going on holiday in my head”

Teachers’ Feedback:

“Following the workshops, some of the pupils found books by the writer and they chose to read these during their reading sessions”

“The workshop’s content and presentation were outstanding. The children absolutely loved it and there was a lot of laughter. Thank you for such a positive experience which has inspired the children to want to write creatively.”

Project funding: Delegated Lottery funding through the Arts Council of Wales, Welsh Government.

12

7. INSPIRING COMMUNITIES FUND

Activity strands: Participation, Celebrating Wales’ Literary Culture

Strategic priorities: Representation & Equality, the Climate Emergency, Health & Wellbeing

The Inspiring Communities Fund enables local communities to organise, deliver and enjoy a variety of literary activities. It is made possible through delegated Lottery funding through the Arts Council of Wales, and with some additional funding from Literature Wales. Community groups, schools, libraries, festivals and other local organisations are invited to apply for funding of up to £2,000 which can support up to 75% of the fees paid to writers for literary events including talks, lectures, workshops and more.

ICF 2024/25 Overview

Projects supported included creative writing workshops for palliative cancer patients at Velindre Cancer Centre, Cardiff, creative writing workshops for refugees and asylum seekers, Welsh-language events delivered by literary societies, creative writing workshops in school and libraries across Wales, led by our Children’s Laureate Wales and Bardd Plant Cymru, and a range of writers.

Feedback

“The workshops were sensitively and carefully delivered by Taylor Edmunds. The 6 sessions provided palliative cancer patients the opportunity to express themselves and time to reflect on their diagnosis. Participants were given time to explore language, poetry and letter writing in a way they hadn’t previously and created a legacy of writing that can be passed onto their family members. The project was really powerful, and we are so grateful for Literature Wales’ support.”

Oriel Plas Glyn y Weddw, Pwllheli

"Sesiynau ysgrifennu creadigol i blant gyda Casia Wiliam wedi mynd yn wych, gyda'r plant wedi creu gwaith arbennig"

[“The creative writing sessions for children and Young people with Casia Wiliam were brilliant, and the children created exceptional work.”]

Ysgol Penmaes, Brecon (SEN School)

“The poetry workshop was engaging and inspiring to our learners. Alex [Wharton] was interactive and fun. Our pupils enjoyed his approach and have talked continuously about the experience. They would love him to come to school again!”

"We had a brilliant time on Saturday with Hanan Issa, National Poet of Wales, listening to and making dragon poems. A dragon in the clouds, a dragon in your bed, a dragon in your PS 64 … where does your dragon live?… just magic!"

13

["Cawsom amser gwych dydd Sadwrn gyda Hanan Issa, Bardd Cenedlaethol Cymru, yn creu a gwrando ar gerddi am ddreigiau. Draig yn y cymylau, draig yn eich gwely, draig yn eich PS 64 … ble mae eich draig chi yn byw? … hudolus!"]

8. TŶ NEWYDD PROGRAMME

In 2024/25 we welcomed 781 writers at every stage of their writing journey to our courses at Tŷ Newydd (578 in 2023/24). The programme included a range of themes and genres including a Writing the Climate course with Owen Sheers and Isabel Galleymore, an Editing and Submitting your Work course with Rhian Edwards and Zoe Brigley, and a fully subscribed Cynganeddu course with Mererid Hopwood and Ceri Wyn Jones. During the same year, Nant Writers’ Retreat Cottage was occupied for 75% of the year, welcoming 46 writers in total.

9. SECTOR FACILITATION

All staff at Literature Wales actively participate in consultation and support with our stakeholders, strengthening our understanding of the arts and cultural sector, sharing knowledge, and improving our processes. In 2024-25 staff logged over 650 hours of sector facilitation, with many more hours spent in an informal capacity. This has included:

10. OPERATIONS

10.1 Finance

At the end of 2024-25 Literature Wales remains in a stable financial position. We have continued the work of previous years to review and improve our processes to remain efficient and reduce costs where we are able. At the end of March 2025, although the Statement of Financial Activities show a loss for the year, this was a deliberate effort to reduce our unrestricted funds. During the next year we plan to further reduce our free reserves to our target level with increased expenditure where needed.

At 31 March 2025, our total funds carried forward at year end is £1,573,292. This is made up of restricted funds of £1,188,514, designated funds of £134,831 and unrestricted general funds of £249,947. Restricted funds include £1,175,000 Capital Development Fund for Tŷ Newydd Writing Centre, our headquarters and the location for our residential writing courses. The property comprises of a historic 15[th] century house, outbuildings and grounds. Of the £249,947 in our unrestricted general fund, £18,751 are tangible fixed assets, available free reserves stand at £231,196

14

10.2 RISK

responding to risk. Our Risk Register is a live document, which all senior leaders take responsibility for updating and discussing key risk topics fortnightly. Risks cover a range of areas, both internal and external, including governance, fundraising & financial, staffing, compliance, partnerships, and delivery model. This register is reviewed quarterly by trustees, and at the AGM in November 2024 trustees established a Risk Subgroup group to meet quarterly and facilitate further in-depth discussion between board and executive. All team members are trained and expected to manage risk appropriate to their level. For example, all project members assess and document project level risks in a centralised document.

10.3 FUNDRAISING

We are very grateful to all those who supported Literature Wales’s programme during 2024/25, especially given the ongoing challenges currently facing the sector caused by cuts to public funding and the ongoing cost of living crisis. As a registered charity our work would not be possible without the generosity of public funders, trusts and foundations, corporate partners and individual donors. Equally, fees received for our open courses and venue hire provide additional and vital income streams.

Fundraising Breakdown 2024/25

Public Funding:

Arts Council of Wales multi-year funding - £734,473 Arts Council of Wales project funding - £13,500 (Arts & Health) Delegated Lottery funding - £97,056 Welsh Government - £17,500

Other public funding - £14,414

Trusts and Foundations: £66,602 (from Amazon Literary Partnerships, Arts & Business Culture Step, Boshier Hinton Trust, Brechfa Windfarm Trust, Darkley Trust, Foyle Foundation, Garrick Charitable Trust, Francis Reckitt Arts Trust, Rhys Davies Trust, Ulverscroft Foundation, Urdd

Venue hire and merchandise: £32,724

Open courses and retreats: £244,004

Corporate support:

Donations from individuals : £3,528 including Gift Aid

15

11. GOVERNANCE, STRUCTURE & MANAGEMENT

Governing document

Literature Wales is a registered charity and a company limited by guarantee, incorporated on 19 September 2011 and registered as a charity on 23 March 2012. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association, which were updated in 2019/20.

Recruitment and appointment of new trustees

All new trustees are also appointed as non-executive Directors of the company following an open and transparent recruitment or nomination by a current Trustee as described in the Articles of Association. Trustees are appointed to strengthen the skills and experience represented by the Board of Directors. All new trustees receive an induction pack together with information regarding the roles and responsibilities of being a trustee, meetings with key personnel as well as training on charity governance.

Organisational structure

Literature Wales is led by the Board of non-executive Directors, who are also trustees of the organisation. The Board of Directors meets a minimum of four times a year and is responsible for the strategic direction of the organisation and overall financial planning. The Board delegates day-to-day running of the organisation to the executive team, led by the Executive Director and Artistic Director, who are supported by a Senior Leadership Team that meets regularly to discuss progress towards strategic aims and other targets.

The trustees confirm that in carrying out their duties during the 2024/25 year they have due regard to the Charity Commission guidance on public benefit.

Key Management Personnel

The Key Management Personnel of the organisation are Executive Director, Claire Furlong and Artistic Director, Leusa Llewelyn; Operations Manager and Company Secretary Alys Lewin; and Finance Manager, Emma Richards. Remuneration for the Key Management Personnel is set and approved annually by the Board of Trustees and follows the organisation’s banded salary structure.

16

12. REFERENCE AND ADMINISTRATIVE DETAILS

Charity name

Llenyddiaeth Cymru | Literature Wales

Charity registration number 1146560

Company registration number 07779153

Registered office

Tŷ Newydd Writing Centre Llanystumdwy, Cricieth Gwynedd, LL52 0LW

Trustees serving in the reporting period

C Charnell-White (Chair)

N Adam (appointed: 22 May 2024) C Austin (retired: 22 May 2024)

S Dimmick (Deputy Chair: from 19 August 2024)

C Dylan M Eckstein (appointed: 22 May 2024) R Harries

A Khan (appointed: 19 August 2024) O Hathway M Hassan R King J O'Shea (Deputy Chair: retired 22 May 2024) D Roberts (retired: 22 May 2024) O Taylor-Shaw (retired: 22 May 2024) C Thatcher (retired: 26 February 2025)

C F Williams (appointed: 22 May 2024)

M Willis (appointed: 14 November 2024)

Artistic Director Leusa Llewelyn Executive Director Claire Furlong Company Secretary Alys Lewin Principal Bankers CAF Bank 25 Kings Hill Avenue Kings Hill ME19 4JQ Auditors HSJ Audit, Business and Tax Advisors Severn House Hazell Drive Newport NP10 8FY

17

Statement of Trustees’ Responsibilities

The Trustees (who are also the Directors of Llenyddiaeth Cymru | Literature Wales for the purposes of Company Law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial 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:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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:

Alys Lewin Company Secretary

18

Llenyddiaeth Cymru / Literature Wales

Independent Auditor's Report to the Members of Llenyddiaeth Cymru / Literature Wales

Opinion

We have audited the financial statements of Llenyddiaeth Cymru / Literature Wales (the 'charity') for the year ended 31 March 2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, 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 United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s 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 basis 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 significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

19

Llenyddiaeth Cymru / Literature Wales

Independent Auditor's Report to the Members of Llenyddiaeth Cymru / Literature Wales

In connection with our 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 misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the (set out on page), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

20

Llenyddiaeth Cymru / Literature Wales

Independent Auditor's Report to the Members of Llenyddiaeth Cymru / Literature Wales

Auditor responsibilities for the audit of the financial statements

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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

21

Llenyddiaeth Cymru / Literature Wales

Independent Auditor's Report to the Members of Llenyddiaeth Cymru / Literature Wales

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

......................................

Mr Andrew Hill FCCA ACA DChA BFP (Senior Statutory Auditor) For and on behalf of HSJ Audit Limited, Statutory Auditor

Severn House Hazell Drive Newport South Wales NP10 8FY

28 August 2025

22

Llenyddiaeth Cymru / Literature Wales

Statement of Financial Activities for the Year Ended 31 March 2025

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Unrestricted
Total
funds
Restricted funds
2025
Note £
£
£
Income and Endowments from:
Donations and legacies
3		 21,516
-
21,516
Charitable activities
4		 1,054,511
159,473
1,213,984
Other trading activities
5		 32,725
-
32,725
Investment income
6		 2,023
-
2,023
Other income 210
-
210
Total income
1,110,985
159,473
1,270,458
Expenditure on:
Raising funds
7		 (35,394)
-
(35,394)
Charitable activities
8		 (1,075,391)
(199,976)
(1,275,367)
Total expenditure
(1,110,785)
(199,976)
(1,310,761)
Net income/(expenditure)
200
(40,503)
(40,303)
Net movement in funds
200
(40,503)
(40,303)
Reconciliation of funds
Total funds brought forward
384,578
1,229,017
1,613,595
Total funds carried forward
20
384,778
1,188,514
1,573,292

23

Llenyddiaeth Cymru / Literature Wales

Statement of Financial Activities for the Year Ended 31 March 2025

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Unrestricted
Total
funds
Restricted funds
2024
Note £
£
£
Income and Endowments from:
Donations and legacies
3		 2,618
-
2,618
Charitable activities
4		 1,006,211
92,790
1,099,001
Other trading activities
5		 35,368
1,064
36,432
Investment income
6		 2,156
-
2,156
Other income 335
-
335
Total income
1,046,688
93,854
1,140,542
Expenditure on:
Raising funds
7		 (30,926)
-
(30,926)
Charitable activities
8		 (1,116,184)
(95,122)
(1,211,306)
Total expenditure
(1,147,110)
(95,122)
(1,242,232)
Gains/losses on investment assets -
305,000
305,000
Net (expenditure)/income
(100,422)
303,732
203,310
Transfers between funds 19,128
(19,128)
-
Net movement in funds
(81,294)
284,604
203,310
Reconciliation of funds
Total funds brought forward
465,872
944,413
1,410,285
Total funds carried forward
20
384,578
1,229,017
1,613,595

All of the charity's activities derive from continuing operations during the above two periods.

The funds breakdown for 2024 is shown in note 20.

24

Llenyddiaeth Cymru / Literature Wales

(Registration number: 07779153) Balance Sheet as at 31 March 2025

2025 2024
Note £ £
Fixed assets
Tangible assets 15 1,193,751 1,191,708
Current assets
Stocks 16 974 754
Debtors 17 120,061 162,047
Cash at bank and in hand 18 635,177 615,480
756,212 778,281
Creditors: Amounts falling due within oneyear 19 (376,671) (356,394)
Net currentassets 379,541 421,887
Netassets 1,573,292 1,613,595
Funds of the charity:
Restricted income funds
Restricted funds 883,514 924,017
Revaluation reserve 305,000 305,000
Total restricted funds 1,188,514 1,229,017
Unrestricted income funds
Unrestricted funds 384,778 384,578
Total funds 20 1,573,292 1,613,595

The financial statements on pages 5 to 29 were approved by the trustees, and authorised for issue on 27 August 2025 and signed on their behalf by:

......................................... A Lewin Company secretary and trustee

25

Llenyddiaeth Cymru / Literature Wales

Statement of Cash Flows for the Year Ended 31 March 2025

2025
2024
Note £
£
Cash flows from operating activities
Net cash expenditure
(40,303)
(101,690)
Adjustments to cash flows from non-cash items
Depreciation
7		 4,955
5,432
Investment income
6		 (2,023)
(2,156)
Loss on disposal of tangible fixed assets -
383
(37,371)
(98,031)
Working capital adjustments
(Increase)/decrease in stocks
16		 (220)
595
Decrease/(increase) in debtors
17		 41,986
(25,469)
Decrease in creditors
19		 (12,236)
(56,507)
Increase in deferred income 32,513
43,460
Net cash flows from operatingactivities
24,672
(135,952)
Cash flows from investing activities
Interest receivable and similar income
6		 2,023
2,156
Purchase of tangible fixed assets
15		 (6,998)
(5,580)
Sale of tangible fixed assets -
659
Net cash flows from investingactivities
(4,975)
(2,765)
Net increase/(decrease) in cash and cash equivalents
19,697
(138,717)
Cash and cash equivalents at 1 April
615,480
754,197
Cash and cash equivalents at 31 March
635,177
615,480

All of the cash flows are derived from continuing operations during the above two periods.

26

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

1 Charity status

The charity is limited by guarantee, incorporated in, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Canolfan Ysgrifennu Tŷ Newydd Writing Centre Llenyddiaeth Cymru / Literature Wales Llanystumdwy Cricieth Gwynedd Wales LL52 0LW

These financial statements were authorised for issue by the trustees on 27 August 2025.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Llenyddiaeth Cymru / Literature Wales meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees 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.

27

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

Judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Income and endowments

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.

Donations and legacies

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Grants receivable

Grants receivable are treated in different ways dependent upon their purposes and the terms of the grant.

Grants receivable for specific purposes are treated as restricted funds so that any unused funds can be separately identified.

Grants receivable to facilitate the general running of the project i.e., where the directors/trustees can choose how the funds are expended, are treated as unrestricted funds.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Other trading activities

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

28

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

Expenditure

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.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises these costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.

Grant expenditure

There has been no offsetting of assets or liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Governance costs

Governance costs include those costs associated with meeting constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Taxation

As a charity, Llenyddiaeth Cymru / Literature Wales is entitled to the exemption from taxation in respect of income and capital gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects purposes only.

29

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The trustees have agreed to revalue the freehold land and buildings owned by the charity every 5 years from October 2019. Depreciation has not been charged on the freehold land and buildings because due to their expected realisable value at the end of 50 years the Trustees consider the value of the depreciation charge to be insignificant.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

----- Start of picture text -----
||| |---|---| |Asset class|Depreciation method and rate| |Freehold land and buildings|2% straight line| |Plant & machinery|10% and 20% reducing balances| |Fixtures & fittings|10% reducing balances|

----- End of picture text -----

Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Trade debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short- term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Trade creditors

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.

30

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

Fund structure

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds are unrestricted funds of the charity which have been set aside to fund particular future activities of the charity.

Restricted funds can only be used for particular 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.

Pensions and other post retirement obligations

The charity operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the charity. Contributions payable are charged to the profit and loss account in the year they are payable and are charged against unrestricted funds.

Financial instruments

Classification

Liabilities are recognised in the Statement of Financial Activities as they become payable.

Unrestricted funds Unrestricted funds Total Total
Designated General 2025 2024
£ £ £ £
Donations and legacies;
Donations 1,650 1,866 3,516 2,618
Corporate sponsorship 3,200 14,800 18,000 -
4,850 16,666 21,516 2,618
Unrestricted funds
Restricted
Total
Total
Designated
General
funds
2025
2024
£
£
£
£
£
Income from
activities -
244,429
-
244,429
176,476
Grants 24,874
782,388
159,473
972,055
922,525
24,874
1,026,817
159,473
1,216,484
1,099,001

31

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

Grants received, included in the above, are as follows:

Unrestricted funds Unrestricted funds Restricted Total Total
Designated General funds 2025 2024
£ £ £ £ £
Arts Council of
Wales 13,500 734,813 97,056 859,563 858,741
Welsh Assembly
Government - - 17,500 17,500 17,906
Bardd Plant Cymru - - 5,000 5,000 10,000
Amazon Literary
Partnerships - 10,000 - 10,000 -
WWF - UK - 14,000 - 14,000 -
NAWA - 8,500 - 8,500 -
Other 11,374 20,395 - 24,575 35,878
Arts & Culture Step - - 4,000 4,000 -
Boshier Hinton Trust - - 1,375 1,375 -
Brechfa Windfarm
Trust - - 3,010 3,010 -
Darkley Trust - - 2,650 2,650 -
Garrick Trust - - 2,000 2,000 -
Francis Reckitt Arts
Trust - - 900 900 -
Ulverscroft
Foundation - - 982 982 -
The Foyle
Foundation - - 25,000 25,000 -
24,874 787,708 159,473 972,055 922,525

5 Income from other trading activities

5
Income from other trading activities
Unrestricted
funds
Total
Total
General
funds
2024
£
£
£
Trading income;
Sale of books and merchandise 3,591
3,591
5,151
Hire of TyNewydd 29,134
29,134
31,281
32,725
32,725
36,432

32

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

6 Investment income

6
Investment income
Unrestricted
funds Total Total
General 2025 2024
£ £ £
Interest receivable and similar income;
Interest receivable on bank deposits 2,023 2,023 2,156

7 Expenditure on raising funds

Costs of trading activities a)

a)
Costs of trading activities
Unrestricted
funds
Total
Total
General
2025
2024
Note £
£
£
Fundraising trading costs;
Fundraising 23,038
23,038
15,904
TyNewydd operational costs 12,356
12,356
15,022
35,394
35,394
30,926

33

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

8 Expenditure on charitable activities

8
Expenditure on charitable activities
Unrestricted funds
Restricted
Total
Total
Designated
General
funds
2025
2024
Note £
£
£
£
£
Income from activities 31,468
390,458
55,710
477,636
515,391
Depreciation, amortisation and other similar costs -
4,557
-
4,557
5,432
Grant funding of activities -
93,956
-
93,956
80,777
Staff costs -
536,746
144,266
681,012
593,292
Governance costs
9		 -
18,206
-
18,206
16,414
31,468
1,043,923
199,976
1,275,367
1,211,306
Activity
undertaken
directly
2025
2024
£
£
£
Comms / online projects 768
768
14,732
Core projects 855,744
855,744
764,384
Mid-term pilots 206,238
206,238
97,613
Sector facilitation 1,947
1,947
72,681
Operational costs 93,951
93,951
159,273
1,158,648
1,158,648
1,108,683

In addition to the expenditure analysed above, there are also governance costs of £18,206 (2024 - £16,414) which relate directly to charitable activities. See note 9 for further details.

34

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

9

Governance costs

Governance costs
Unrestricted
funds
Total
Total
General
2025
2024
£
£
£
Audit fees
Audit of the financial statements 7,800
7,800
8,500
Othergovernance costs 10,406
10,406
7,914
18,206
18,206
16,414

35

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

10 Grant-making

Analysis of grants

Analysis of grants
Grants to institutions Grants to individuals
2025
2024		 2025
2024
£ £ £ £
Analysis
Grants to organisations 19,372 12,495 - -
Grants to individuals via organisations - - 47,935 45,683
Grants to individuals (bursaries) - - 26,649 22,599
19,372 12,495 74,584 68,282

11 Net incoming/outgoing resources

Net outgoing resources for the year include:

11
Net incoming/outgoing resources
Net outgoing resources for the year include:
2025 2024
£ £
Audit fees 7,800 8,500
Loss on disposal of tangible fixed assets - 383
Depreciation of fixed assets 4,557 5,432

12 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

There was 1 board member and committee members (2024: 1) who received fees totalling £400 (2024: £400).

Travel expenses totalling £1,077 (2024: £627) were reimbursed to 8 board members (2024: 3 board members) during the financial year.

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

36

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

13 Staff costs

The aggregate payroll costs were as follows:

13
Staff costs
The aggregate payroll costs were as follows:
2025
2024
£
£
Staff costs during the year were:
Wages and salaries 592,738
523,645
Social security costs 58,454
47,561
Pension costs 29,820
22,086
681,012
593,292

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

during the year expressed as full time equivalents was as follows:
2025
2024
No
No
Average number of employees 18
18
The number of employees whose emoluments fell within the following bands was:
2025
2024
No
No
£60,001 - £70,000 1
1

The total employee benefits of the key management personnel of the charity were £186,490 (2024 - £188,952).

37

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

14 Taxation

The charity is a registered charity and is therefore exempt from taxation.

15 Tangible fixed assets

15
Tangible fixed assets
Land and
Furniture and
buildings
equipment
Total
£
£
£
Cost
At 1 April 2024 2,524,446
61,598
2,586,044
Additions -
6,998
6,998
At 31 March 2025
2,524,446
68,596
2,593,042
Depreciation
At 1 April 2024 1,349,446
44,890
1,394,336
Charge for theyear -
4,955
4,955
At 31 March 2025
1,349,446
49,845
1,399,291
Net book value
At 31 March 2025
1,175,000
18,751
1,193,751
At 31 March 2024
1,175,000
16,708
1,191,708

38

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

Revaluation

The fair value of the company's Land and buildings was revalued on 12 August 2024 by North Wales Surveyors, an independent valuer.

Arts Council of Wales has a legal charge over the properties held within fixed assets. These properties are Tŷ Newydd and Nant and Hafodty, Cricieth, Gwynedd.

Had this class of asset been measured on a historical cost basis, their carrying amount would have been £870,000 (2024 - £870,000).

16 Stock

16
Stock
2025 2024
£ £
Stocks 974 754
17
Debtors
2025 2024
£ £
Trade debtors 97,468 145,347
Prepayments 14,811 16,700
Accrued income 7,197 -
Other debtors 585 -
120,061 162,047

18 Cash and cash equivalents

18
Cash and cash equivalents
2025
2024
£
£
Cash on hand 48
-
Cash at bank 635,129
615,480
635,177
615,480

39

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

19
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors 145,529
124,402
Other creditors 5,177
48,014
Accruals 36,006
26,532
Deferred income 189,959
157,446
376,671
356,394
2025
2024
£
£
Deferred income at 1 April 2024 157,446
113,986
Resources deferred in the period 215,709
169,313
Amounts released frompreviousperiods (157,446)
(125,853)
Deferred income at year end
215,709
157,446

40

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

20
Funds
Balance at 1 April
Incoming
Resources
Balance at 31
2024
resources
expended
March 2025
£
£
£
£
Unrestricted funds
General
General fund 248,003
1,081,261
(1,079,317)
249,947
Designated
Glyn Jones Bequest 55,263
1,830
(3,694)
53,399
John Tripp Fund 2,290
-
(2,290)
-
Ty Newydd Bursaries 2,538
-
(1,000)
1,538
Legacy Fund 21,030
-
(4,530)
16,500
Pilot Activity Fund 17,500
-
(2,500)
15,000
Representing Wales - Aftercare 1,474
-
(1,474)
-
Ty Newydd Capital Reserve 20,000
-
-
20,000
National Poet 6,000
-
(5,000)
1,000
Rhys Davies Trust 9,480
-
(9,480)
-
Lit in Place 1,000
8,894
(1,000)
8,894
Unwell Women -
13,500
(500)
13,000
Squads -
3,200
-
3,200
Pencerdd -
2,300
-
2,300
136,575
29,724
(31,468)
134,831
Total unrestricted funds
384,578
1,110,985
(1,110,785)
384,778

41

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

Balance at 1 April
Incoming
Resources
Balance at 31
2024
resources
expended
March 2025
£
£
£
£
Restricted funds
Bardd Plant Cymru 3,560
10,000
(7,183)
6,377
Llen Pawb / Lit Reach 1,754
-
(1,754)
-
Rhys Davies Trust 3,684
-
(3,684)
-
Roald Dahl 100 3,000
-
-
3,000
Capital Development Fund 1,175,000
-
-
1,175,000
Jan Mark Bursary 2,435
-
(2,435)
-
Literature & Health 2,090
-
(2,090)
-
Representing Wales (Lottery) 37,494
70,000
(103,357)
4,137
Dychmyga Dyfodol -
4,000
(4,000)
-
CLW -
5,007
(5,007)
-
Yr Ardd -
3,010
(3,010)
-
Llyfrau Lliwgar -
2,000
(2,000)
-
Rickett Bursaries -
900
(900)
-
Inspiring Communities -
27,056
(27,056)
-
Ffrindua Bardd Plant -
12,500
(12,500)
-
The Foyle Foundation -
25,000
(25,000)
-
Total restricted funds
1,229,017
159,473
(199,976)
1,188,514
Total funds
1,613,595
1,270,458
(1,310,761)
1,573,292

42

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

Balance at 1 April
Incoming
Resources
Other recognised
Balance at 31
2023
resources
expended
Transfers
gains/(losses)
March 2024
£
£
£
£
£
£
Unrestricted funds
General
General fund 260,676
1,046,688
(1,144,060)
84,699
-
248,003
Designated
Glyn Jones Bequest 67,973
-
-
(12,710)
-
55,263
John Tripp Fund 4,580
-
-
(2,290)
-
2,290
Ty Newydd Bursaries 2,538
-
-
-
-
2,538
Legacy Fund 21,030
-
-
-
-
21,030
Pilot Activity Fund 25,000
-
-
(7,500)
-
17,500
Representing Wales - Aftercare 3,214
-
(1,740)
-
-
1,474
Ty Newydd Buildings 42,071
-
-
(42,071)
-
-
Ty Newydd Capital Reserve 20,000
-
-
-
-
20,000
BOTY Consultation 5,000
-
-
(5,000)
-
-
Somali Dance 1,000
-
-
(1,000)
-
-
National Poet 2,000
-
-
4,000
-
6,000
Rhys Davies Trust 9,480
-
-
-
-
9,480
Cymru Ni 1,310
-
(1,310)
-
-
-
Lit in Place -
-
-
1,000
-
1,000
205,196
-
(3,050)
(65,571)
-
136,575
Total unrestricted funds
465,872
1,046,688
(1,147,110)
19,128
-
384,578

43

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

Balance at 1 April
Incoming
Resources
Other recognised
Balance at 31
2023
resources
expended
Transfers
gains/(losses)
March 2024
£
£
£
£
£
£
Restricted
Bardd Plant Cymru 2,913
17,354
(16,707)
-
-
3,560
Dylan Day 662
-
-
(662)
-
-
Llen Pawb / Lit Reach 1,754
-
-
-
-
1,754
Rhys Davies Trust 3,684
-
-
-
-
3,684
Roald Dahl 100 6,000
-
-
(3,000)
-
3,000
Weird & Wonderful Wales 1,142
-
-
(1,142)
-
-
Capital Development Fund 870,000
-
-
-
305,000
1,175,000
Jan Mark Bursary 5,870
-
-
(3,435)
-
2,435
Judi Thwaite Bursary 500
-
-
(500)
-
-
Literature & Health 5,458
-
-
(3,368)
-
2,090
Bridging the Gap (MIND) 4,021
-
-
(4,021)
-
-
RepresentingWales (Lottery) 42,409
76,500
(78,415)
(3,000)
-
37,494
Total restricted funds
944,413
93,854
(95,122)
(19,128)
305,000
1,229,017
Total funds
1,410,285
1,140,542
(1,242,232)
-
305,000
1,613,595

44

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

The specific purposes for which the funds are to be applied are as follows:

Literature Reach is a programme which provides opportunities for literature to benefit the health and wellbeing of the most disadvantaged and vulnerable individuals in our communities. It is funded by Arts Council Wales and the participating Local Authorities.

Literature and Health includes various grants received for promoting health and wellbeing through literature.

Rhys Davies Trust - Literature Wales received a grant from The Rhys Davies Trust for various activities including community workshops in South Wales.

Bardd Plant Cymru - Literature Wales receives annual funding from Welsh Government andS4C towards this project, which is the Welsh-language Children's Poet Laureate.

Capital Development Fund - funded the purchase and substantial improvement works on the freehold properties. The value of the properties reflected in the accounts reflect the market value. The Arts Council of Wales (ACW) has a legal charge over the properties until April 2031. Should the charity sell or change its use of the properties the charity would be required to repay ACW's original investment of £1,010,192.

Jan Mark Bursary offers bursaries towards the costs of attending a course at Tŷ Newydd to applicants meeting the specified criteria.

Judi Thwaite Bursary offers bursaries towards the costs of attending a course at Tŷ Newydd to applicants meeting the specified criteria.

Roald Dahl 100 funding was provided for specific projects surrounding the Roald Dahl centenary. The remaining balance is to be spend on supporting legacy activities with young people across Wales.

Representing Wales - a 12 month professional writer development programme for writers of colour launched in 2020-21 funded by the Lottery through the Arts Council of Wales. The programme aims to support a cohort of 12 writers in developing their professional career as a writer.

Ffrindiau Bardd Plant - creative writing workshops in Welsh schools funded by Welsh Government Education, Culture and Welsh Language Group. Foyle foundation – funding across a number of strategic projects

CLW – Additional project funding for the Children’s Laureate of Wales, which includes a creative writing and audiobook project for partially sighted or blind young people, and a walking tour in Bannau Brycheinniog National Park visiting local schools.

Inspiring Communities Fund – a scheme offering financial support to organisations holding literature events throughout Wales Llyfrau Lliwgar – a creative writing retreat for LGBTQ+ writers at Tŷ Newydd Writing Centre

Yr Ardd – a creative writing project in partnership with Yr Ardd Community Garden, Llandysul Dychmyga Dyfodol / Imagine a Future – a creative project for secondary school pupils in Powys

Rickett Bursaries – bursaries to allow writers from low income backgrounds to attend Tŷ Newydd courses

45

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

The income funds of the charity include the following funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Glyn Jones Bequest - A legacy was bequeathed to Literature Wales with the purpose of supporting new writers and creating a meeting place for writers. This fund is allocated to developments at the Glyn Jones Centre in the Wales Millennium Centre;

John Tripp Fund - A reserve set aside to assist writer development.

Tŷ Newydd Bursaries - A reserve set aside to assist writer development.

Representing Wales - Aftercare - A designated fund created to support the 2021 cohort of Representing Wales once the programme comes to an end. Rhys Davies Trust - Funding received from the Rhys Davies Trust for the development of emerging writers.

Tŷ Newydd Buildings - in order to ring-fence funds to respond to unforeseen repairs or maintenance costs as well as large scale conservation or renovation work at Tŷ Newydd. This is not for ongoing or planned maintenance or repair work, or for work which may be covered by an insurance claim.

Tŷ Newydd Capital Development - Combined with the Capital Development Reserve (Restricted Fund), Directors aim to hold sufficient funds to meet the requirements to repay the ACW grant awarded to develop Tŷ Newydd in 2005, should it default on any of the conditions of the Legal Charge or Grant Agreement. This agreement comes to an end on 3 April 2031, after which any funds remaining will be transferred to General Unrestricted Reserves.

Pilot Activity Fund - to allow LW to pilot new activity and partnership in a low risk manner. Directors have created a new fund which will allow staff to pursue new opportunities and continue to extend the organisation's reach.

Legacy Fund - to allow LW to extend activity or support partner organisations in taking ownership of projects.

Somali Dance - Contribution to Somali Dance project in partnership with NDCW.

BOTY Consultation - funds ringfenced for consultation on Book of the Year, originally planned for early 2022 but postponed until new CEO in post.

Cymru Ni - A training programme for black writers to deliver workshops that explore our modern Wales, helping learners become 'ethical and informed citizens of Wales and the world' and helping schools implement the recommendations of the Cynefin report.

46

Llenyddiaeth Cymru / Literature Wales

Notes to the Financial Statements for the Year Ended 31 March 2025

21 Analysis of net assets between funds

Total funds at 31
Unrestricted funds Restricted March
General Designated funds 2025
£ £ £ £
Tangible fixed assets 18,751 - 1,175,000 1,193,751
Current assets 607,867 134,831 13,514 756,212
Current liabilities (376,671) - - (376,671)
Total net assets 249,947 134,831 1,188,514 1,573,292
Total funds at 31
Unrestricted funds Restricted March
General Designated funds 2024
£ £ £ £
Tangible fixed assets 16,708 - 1,175,000 1,191,708
Current assets 587,689 136,575 54,017 778,281
Current liabilities (356,394) - - (356,394)
Total net assets 248,003 136,575 1,229,017 1,613,595
Tot al net assets
248,003		 136,575 1,229,017 1,613,595
22 Analysis of net funds
Financing cash
At 1 April 2024 flows At 31 March 2025
£ £ £
Cash at bank and in hand 615,480 19,697 635,177
Net debt 615,480 19,697 635,177
Financing cash
At 1 April 2023 flows At 31 March 2024
£ £ £
Cash at bank and in hand 754,197 (138,717) 615,480
Net debt 754,197 (138,717) 615,480

47