COMPANY REGISTRATION NUMBER: 08070275 CHARtrY REGISTRATION NUMBER: 1148032 The Ffald-y-Brenin Trust Limited Company Limited by Guarantee Unaudited Financial Statements 31 December 2023 PRITCHARD & CO Chartered accountants Ffynnonddofn 74 High Street Fishguard Pembrokeshire SA65 9AU
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The Ffald-y-Brenln Trust Limited Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) Year ended 31 December 2023 The trustees, who aro also th8 directors for the purposes of cornpany law. present thelr report and the unaudited flnanclal statements of the chaiity for the year ended 31 December 2023. Rofgrnnca and admlnlstratlvo detsll• R•gl$t•r•d charlty nam• The Ff81&yrnIn Trusl Limited Charlty r•glstratlon number 1148032 Company reglstratlon numb•r 08070275 Prfnclp•l ofllca and re9lster•d Ffald Y Brenln offlco Pontfaen Fishguard Pembrokeshire SA65 9UA Wales Tho tru•tM• Mr C P Mould MrsPVSBell Mr R J Robarts Rev Canon S R Ball Mr D H Davies MsSWRee8 Ind•pond•nt •x•mln•r Ign Williams Chartered Certffied Accountant Ffynnonddofn 74 High Strael Fishguard Pgmbrokeshlrg SA65 9AU Structurn. govemanco and manag•m•nt The Ffald-Y-Brenin Trust Limited is govemed by its Memorandum and Artlcles of A8soclallon a8 incorporated under the Companies Act 2006 on 15 May 2012. 11 became a registered charity on 10 July 2012. The Trust is a company limited by guarantee and has no share capital. The liability of each member In the event of a windlng up is limited lo £10. 11 Is Intended thal the trustses wlll bg selected generalty by word of moulh, bawl on a ski115 audlt carried out by th8 remaining trustees lo secur8 th8 balanced expertise required for the efficient delivory of the trust objeth'ves. New trustees are provided wrth information about the working of the Ffald-Y-Brenin Trust, its hiskny and fulure plans. In addilion they are given information on recommended good waclice including the Charity Commission's publications 'Responsibililies of Charity Trustees" and 'Hallmarks of a Well-Run Charity..
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The Ffald-y-Brenin Trust Limlted Company Limited by Guarantee Independent Examinerfs Report to the Trustees of The Ffald-y4renln Trust Llmlted Year ended 31 December 2023 I report lo the trustees on my examinati of Ihe financial statemnts of The Ffald-y-Brenin Trust Llmited Ilhe chlty,) for the year ended 31 December 2023. R•sponslbllltl•* and bas1$ of report As the trustees of the MpanY (a1 $0 its directors for Ihe purposes of company lawl you are responsible for the preparation of the financial slatements in accordance with the requirements of the Companies Act 2006 I'the 2006 Act,). Having satisfied myself that thg accounts of Ihe company are not required lo be audlted undèr Part 16 of the 2006 Act and are eligible for Independgnl examlnalion. I report in rosp8cl of my examlnallon of the charity's accoLtnts as carried out under section 145 of the Charili8s Act 2011 {Ihe 2011 Act'l. In Carrying out my examln81ion I have followed the DireCnS gfvan by the Charity Commission under section 14515llbl of the 2011 Act. Ind•p•ndent •xamln•rfs itat•m•nt Since the charity's gross Income exceeded £250,000 your exomlner must be a member of a body listed in section 145 of Ihe 2011 Act. I confimi Ihal l am qualified lo undertake the exarninalion bocausè l am o member of the Association of Chartered Certlfied Accountant8, whlth is one of th6 Ilsl8d bodies. I have completed my examlnalion. I c(mfim that no mattern have eomg lo my attenli¢)n in connecdon wlth th6 examinallon giving m8 cause to believo.. accounllng records waro not kopl In rasp6ct of the charlty as requlred by $8cllon 386 of the 2006 A¢t.' or the financlal slalemenls do not 8yd wlth th056 reclyds; or the financial slatemenls do not comply wtth the acctyjnting requlrem6nts of secllon 396 of the 2006 Act other than any requirement that the accounts giv& a 'lriJg and falrf view which is not a matter considered as part of an independenl examination.. or the financlal 8tatsments have not b88n prepared in accordanc8 with the methods and winciples of tho Statement of Recc¥mm6nded Practice for accounllng and reporting by arllies applicable lo chartti8s kyeparing their accounts in accordanco Wth Ihg Flnanclal Reporting Standard applicabl8 in the UK and Republic of Ireland IFRS 1021.
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The Ffald-y-Brenin Trust Limited Company Limited by Guarantee Statement of Financlal Actlvltles (including Income and expendlture account) Year ended 31 Decombor 2023 2023 2022 UnrestrKled Restricted funds fvnds Total funds Total funds Incom• and endowrnonts Donations and legacios Charitable aclNilies Investment incom8 135.912 240.257 1,496 135,912 240,257 1.496 96.801 202.643 T¢)tal In¢om 377,665 377.665 300,090 Expondllure Expenditure on charitable activities Total expfrndlturn 374,989 1.260 376,249 337,940 374,989 1.260 376.249 337,940 N•t Incom•l(oxpondltur•) and n•t mov•m•nt In funds 2.676 11.2601 1.416 137,8501 Reconclllatlon of funds Total lunds brought loard Totsl funds C•ffl•d lornard 623,691 8.678 632,369 670,219 626.367 7.418 633,785 632.369 Tho slalfyment of flnanclal avleS Includes all galns and108sgs rowgnlsed In the year. All income and expenditure derive from continuing activities. Th• not•s on pa90$ 8 to 17 fo part of th•s• financlal ststemonts.
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The Ffald-y-Brenin Trust Limited Company Llmlted by Guarantee Statement of Flnanclal Posltlon fmnthwdj 31 December 2023 ese fJpJa clal statsmenls were approved by th8 trard of trustses a1 aulhorbsed for Issue on . aThJ are swJned on behaw of th6 board by". Mr C P Mould Trustse Th• not•9 on pa9 8 to 17 form part of these finanelal stat•m•nts.
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The Ffald-y-Brenin Trust Limited Company Limited by Guarantee Notes to the Flnanclal Statements Year ended 31 December 2023 A¢¢ountlng pollcles (condnrxd) Fund accountlng Unrestdctod fvnd$ are avall8bl8 for use at the d&crellon of the trustaes lo further any of the ch8rlV8 PUfPOS8S. DesvJnoled funds are unrestricted fund5 èamarted by the truste88 for partilar future project or commitment. Restricted funds ar8 subjected lo restrictions on their 8xpenditurg declared by the donor or through the tem)s of an appeal. arKI fall into one of sutKlasses.' restricted income funds or endowment funds. Incomlng ro•ourc All incomirvJ resourS arè Included in the statement of financial 8ctiMtios whan entluement has P85sed lo ¢he charty.. il 1$ probable that the economic benefits associated with th8 transacllon wlll flow lo the charity and the amount can be roli8bty measured. The following specific policies are applied to particular Calagorles of irbcomo.. In¢omo from donallon8 or grants 16 ro¢ogn188d wthen there Is evklgn¢a of entluemenl to the gfft, recelpt Is proba8 and rt8 amount can bg measured rellabty. legacy in¢om8 is recognlsed when recolpt i¥ Probab and enlluement 1$ g$lablish8d.
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The Ffald-y4renin Trust Limited Company Llmited by Guarantee Notes to the Flnanclal Statements Year ended 31 December 2023 A¢countlng pollclas (conthwdj Impairmont of lIx 4880ts (GonllTru•dJ For the purposes of impalmient testing. wthen It 18 not possible lo e51imale the recoverable amount of an individual asset. an estimate is made of the recoverablo amount of the cash-g8norating unil lo which tho asset bebngs. The ca8h-generating unit Is the smallest identifiablo group of assets that includes th8 asset and generates cash infi¢)w5 that larg8ly independent of the cash inllows from other assets or groups of assets. For impaSrm8nl lestlng of goo(k¥ill, the )0dlI1 acquirad in a busin8ss combinallon Is. from th8 acquisllion dale, allocated lo gach of the cashan8ratsng units that ara expected lo banefil from the synergies of th6 comblnatlon. ¥respto of wttelher other assets or Ilabllll8 of the charlty are assignod lo those unlts. stocks Stocks are measured at the lower of wst and eslimatod selling price108s costs lo complete and sell. Cost Includes all costs of purchase. costs of convers and other costs Incurred in bringing the stock to its present location and condition. Flnanclal In•trum•nts A Ilnancial asset or a financial Ilabillty Is recognlsod only when thè charfty becomes a party lo the conlraclual provlslons of the instrumanl. Baslc flnanckgl Instruments are In6Ualty reccon158d at the amount recalvable or payable Includlng any related trans8Gtion costs. Current assets and current liabilities are subsequently measurwj ot the e48h or other oonsid8ralion expècted lo be paSd or recelvgd and not discounlad. FlnancSal assets thal are measured 81 cost or amortiged cosl are reviewed for objective evldence of impairment at the end of gach reporting dale. If the is objective evidence of imp8irmenl. an Impairment loss is rec¢>ynised under the appropriate hèading In the statement of finoncial aclivilies in which the inilhgl gain w88 recognised. 11
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The Ffald-y4renin Trust Limited Company Llmlted by Guarantee Notes to the Flnancial Statements Year ended 31 December 2023 Charftablo a¢tlvltlos Unreslricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Contributions toward conferences and accommodation Bookshop sale8 206,030 34,227 206,030 34,227 171,3¢XI 31,343 171.300 31,343 240,257 240.257 202,643 202,643 In•tment Incom• Unrestricted Total Funds Unreslricled Tolal Funds Funds 2023 Funds 2022 Rent receivablo 1.496 1.496 Expendlturn on charltabl• a¢tl¥ltl•• ty fvnd typ• Unrestricted Funds Restricted Total Fund$ Funds 2023 Advancing th8 Christian Roligion 374,989 1,260 376,249 Unrestrlctsd Funds R8$lrictad Total Fund8 Funds 2022 Adv8nclng the Chrlsllan Rg11gicrf) 336.980 337,940 Expgndltur• on charltablt actlVftl by actlvlty typ• Activities undertakan Total funds direclly 2023 Total fund 2022 Adv8nclng the Chrlsllan Rellgion 376.249 376,249 337,940 10. N•t Incomollexpendlturel Net Incomellaxpendilur8) Is stat8d after charglngllcredltlngl: 2023 2022 Depredaon of tangible fixed assets 14,342 14.288 13
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The Ffald-y-Brenin Trust Limited Company Limited by Guarantee Not8s to the Flnanclal Statements {conthu Year ended 31 December 2023 14. Tanglblo flxed assets Freehold Fixiures and propety fittings Total Cost At 1 January 2023 Additions 530,056 51,689 4.050 581,745 4.050 At 31 D•¢emb•r 2023 530,056 55,739 585,79S D•prn¢latlon At 1 January 2023 Charge for the year At 31 De¢•mbor 2023 81,995 10.601 30,801 3,741 112,796 14,342 92,596 34.542 127,138 Carylng amount At 31 D•umb•r 2023 437.460 21.197 458,657 At 31 Decemb6r 2022 448,061 20.888 468.949 15. Stocks 2023 2022 Row malèrlals and consumables 6.852 5,285 16. D•bt¢r• 2023 2022 Prepaymgnls and aCcfLd income Other debtors 2.372 3.903 1,374 4,711 6.275 6,085 17. Cr•dllorn: amounts l•lllng due wlthln on• ar 2023 2022 Trade creditors Arnounls owed to group undertakings Accruals and deferred income Other creditors 4,098 2,712 200 678 6,787 2,717 743 7.688 10.247 15
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The Ffald-y-Brenin Trust Limited Company Limlted by Guarantee Notes to the Flnanclal Statements (wil Year ended 31 Decemb8r 2023 20. Analysls of net assets b•twèen funds Unrestricl&J Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assots Crgdilor81885 than 1 year Net as$•ts 458.657 175.398 (7,6881 626.367 458,657 182,816 17,6881 633.785 7,418 7,418 Ljnrostrthl Funds R851rict8d Total Funds Funds 2022 Tangible fixed assèts Current assets Credilorsrgss than 1 year Nel a88Ot$ 468.949 146,583 110.2471 605.285 468,949 155.261 110,2471 613,963 8,678 8,678 17
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The Ffald-y-Brenln Trust Limited Company Limited by Guarantee Detalled Statement of Flnancial Actlvlties Year endod 31 December 2023 2023 2022 Incom• and endowments Donatlons and legacles General donations Friends donations Gift aid tax claims Legacies 37.947 53,182 24.783 20,000 27.595 43,998 25,208 135,912 96.801 Charltablo actlYltl•• Contributions toward conferences and accommodallon 8ook5hop sales 206.030 34,227 171.300 31,343 240,257 202,643 Investmont Incorno Rent recglvab19 1.496 Total Incorn• 377,665 300.0 19
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The Ffald-y-Brenin Trust Limited Company Llmited by Guarantee Notes to the Detailed Statement of Flnanclal Activities Year ended 31 December 2023 2023 2022 Expendlture on charltablo acllvltlos Advanclng thg Chrfstlan Rgllglon Actlvltle$ undertaken directly Re-sale items Staff salaries aThJ wages Employels NIC Pension c0515 Rates and walor Light and heal Repaits and maintenance Insurance Travel Legal and profes8lon•l 168$ Telephone 15.738 231,123 15,869 3,680 613 25.047 3,001 4,386 S.181 723 2,599 15,559 209,473 9.654 3,45S 923 17,143 1,093 3.981 4,287 4,145 2,605 [ !] Depreciotion Postage Subscripllons Enthuse charges Sundry expens88 Outsourcing Cleaning and w881e disposal Catering and consumablés LHOP expen$8S Printing, stationery and advertising Bubldlng maSntenance Garden m8int8n*nce Bank chargos 14.342 2.589 3,584 2.051 3.222 2.614 1,084 11,623 14,288 2,407 2,300 1,890 745 13,165 1,001 8.874 801 4,687 9.686 3.388 2,390 9,529 12,025 2,274 3,352 376.249 337.940 ExpondSturo on charhabl• odlvltlej 376.249 337,940 21