2025-03-31-accounts

Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Charity registration number: 1152853

Tŷ Cerdd - Music Centre Wales

Annual Report and Financial Statements for the Year Ended 31 March 2025

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HSJ Audit Limited Auditor Severn House Hazell Drive Newport NP10 8FY

Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Contents

Trustees' Report	1 to 11
Independent Examiner’s Report	12 to 13
Statement of Financial Activities	14
Balance Sheet	15
Cash Flow Statement	16
Notes to the Financial Statements	17 to 26

Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Trustees’ Report

The trustees present the annual report together with the financial statements and auditors' report of the charity for the year ended 31 March 2025.

OBJECTIVES AND ACTIVITIES

Tŷ Cerdd’s mission:

To support artists, communities and audiences to create, perform and participate in the music of Wales.

And our vision:

We envisage a Wales in which music-creators of all genres and backgrounds are enabled to make music and develop careers; in which a diversity of people and communities can engage in and enjoy Welsh music.

If you’re making music in Wales, it’s Welsh music!

We deliver this mission and vision through a range of activities with composers / music-creators and collaboration with organisations and communities. We served the whole of Wales and increasingly work from our homes (which take in south-east and west Wales), and our base in Wales Millennium Centre, which hosts a recording studio and a library of music for hire, alongside an archive collection.

We engage with international audiences and sectors, not only through our record label and publishing imprint, but also through artist-development initiatives with partners, and through our place in a range of international networks.

We deliver Lottery funding on behalf of Arts Council of Wales.

Our current goals as a charity are:

• Providing greater equality of opportunity for artists and communities

• Sustaining & developing excellence

• Ensuring a fit and agile organisation, able to deliver work for stakeholders and with partners

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Public benefit

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous twelve months. The review looks at the success of each key activity and the benefits. The review also helps us ensure our aims, objectives and activities remained focused on our stated objectives. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities thus ensuring that it continues in its purpose.

Grant making policies

Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specific service or output.

Grants payable without performance conditions are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

ACHIEVEMENTS AND PERFORMANCE

2024-25 at Tŷ Cerdd saw a wide range of activity – from development work with music-creators and artists and sector support, to distribution of funding, and delivery of research and priorities for our funders and partners. Our motto “if you’re making music in Wales, it’s Welsh music” underpinned the entire programme of work.

The year saw an important move forward for the CoDI (Composer Development Initiative) programme with the appointment of Freya Dooley as Artist Development Manager. Freya is an award-winning artist and sound designer whose practice encompasses sound, writing, moving-image and performance. Freya’s new role sees her driving the development of CoDI, and taking oversight and responsibility for ensuring its delivery, in collaboration with team members, artists and partners.

The CoDI (Composer Development Initiative) programme remains central to Tŷ Cerdd’s strategic commitment to nurturing Welsh music and supporting the development of music-creators across Wales. Through an evolving and responsive framework, CoDI continually builds on previous successes to address barriers to participation and progression, targeting specific communities, genres, and demographics. This iterative approach ensures that opportunities for artistic growth are inclusive, relevant, and impactful. In 2024-25 with continued support from Arts Council Wales, PRS Foundation (through their UK-wide Talent Development Programme) and Jerwood Foundation, CoDI included:

• Pathway to the Orchestra – The culmination of this potent pathway for music creators who have not received formal training, being mentored by Lynne Plowman to write for a quartet of orchestral instruments. Participating artists: Gwen Siôn, Heledd C Evans, Małgola Gulczyńska, Sam Finn Jones, and Tom Elstob.

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

• Ffidil Plws – Development pathway for six music-creators writing for violin and electronics. Participants were mentored by composer Angharad Davies and violinist Darragh Morgan. Participating artists: Delyth Maiya Field, Joseph Graydon, Joshua Lascar, Natalie Roe, Richard McReynolds and Sara Evelyn.

• Tuag Opera – Six early-career music-creators and six early-career writers were selected to explore and create a moment of opera together in the Welsh-language with support and guidance from music director Iwan Teifion Davies, writer Gwyneth Glyn and Michael McCarthy of Music Theatre Wales. Participating music-creators: Andrew Cusworth, Eädy Crawford, Francesca Simmons, Lowri Mair Jones, Nathan James Dearden and Sarah Lianne Lewis. Participating writers: Anna Sherratt, Beca Davies, Gwenno Gwilym, Kayley Roberts, Siwan Llynor and Teifi Emerald.

• BŴM! – A partnership with Oxford Contemporary Music and Articulture, the second phase of this pathway continued for four early-career artists in making outdoor music and sound that responds to themes of climate crisis. Participating artists: Ella Roberts, Francesca Simmons, Gwen Siôn and Teifi Emerald.

• Bwthyn Sonig – Now a central plank of Tŷ Cerdd’s ongoing partnership approach to working with and enabling learning-disabled music-creators, in 2024-25 Bwthyn Sonig was run in partnership with Canolfan Gerdd William Mathias (Caernarfon), Two Rhythms (Cardiff), TAPE (Colwyn Bay). With lead artists Teifi Emerald, John Thomas, Elin Taylor, Henry Horrell and project leads Rosey Brown and Manon Gwynant. Activity included a new strand of inclusive club nights in held in WMC and Pontio, as well as regular participatory sessions

• Tlws y Cyfansoddwr – A reboot of the National Eisteddfod’s Tlws y Cerddor, this pathway culminated at the National Eisteddfod in Pontypridd in August 2024. Four composers worked with mentor John Rea and a quartet of musicians from Sinfonia Cymru. Participating artists: Nathan James Deaden, Lowri Mair Jones, Gwenno Morgan and Tomos Williams. Tlws Y Cyfansoddwr was awarded to Nathan James Dearden.

• Off-Grid – A network for experimental sound-artists and music-creators, this group continued participatory activity throughout the year, culminating in a workshop at the Bangor Music Festival in February focusing on using text in musical improvisation.

• Caffi Arbrofol – An offshoot from Off-Grid, this online meeting-place continued with discussions and artist talks, including a visit from avant-garde composer and performer Gwilly Edmondez in July 2024.

• Interact is a suite of activity within CoDI that delivers advice, networking and workshopping, and this year it included a Q&A / networking session at the Tŷ Cerdd Studio in which Gavin Higgins and Matthew Wood were interviewed by Deborah Keyser, around BBC National Orchestra of Wales’s Composition: Wales event. Music Industry 101 is the skills-sharing and training strand of Interact, and during this year, highlights were a session on “Setting up as a freelancer” run by Heledd C Evans, and “Self-releasing your music” by Matthew Whiteside.

The whole CoDI programme is run in line with the Sound and Music Fair Access Principles, a set of parameters and best-practice guidelines that support access and inclusion, and to which Tŷ Cerdd is a founding signatory organisation. At the end of 2024-25 we collaborated with Sound

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

and Music to convene a Fair Access Principles Conference in Birmingham, which brought together individuals and organisations working in artist development.

Alongside CoDI, and aligned with our priority to support development for artists who have experienced barriers (and under our ongoing priority around Race), we delivered the first Music and Race in Wales Showcase , in partnership with Black Lives in Music and TÂN Cerdd. 12 artists (some solos, some with bands, from a range of genres) performed in three showcase sessions, alongside keynotes and a panel discussion, held at Chapter (Cardiff) in October 2024.

We continued to support music-making across Wales through our Lottery funds , delegated from Arts Council of Wales, and split across three pots:

• Create – resourcing the creation of new work by music-creators of any genre

• Engage – funding a range of activity, from live performance and workshops to community collaborations

• Inspire – supporting the development of work with participants aged under 26

From leisure-time and community groups to professional work in a range of diverse settings, £155k was distributed in 116 awards to organisations (39 Create, 53 Engage, 24 Inspire). Demand for the fund continued to grow with requests totalling over £250k. We continued running Q&A sessions prior to the closing date for each round to promote the funds and support those who wish to make an application.

Tŷ Cerdd Records remained our signature, label, while Sionci continued to evolve as its artist-led sibling, conceived to enable creative- and career-development for artists, cross-genre. Releases during the year were:

• Mental State (single and album) by Anarchy Wølf – created with the support of the Bwthyn Sonig programme and launched at the inclusive club night in Bangor. (Sionci)

• I’m not free until we’re all free by Oasis One World Choir, released on 10 November to mark Human Rights Day. (Sionci)

• Hiraeth by Adjua and Llygaid Cudd by Aisha Kigs – both stemming from our Affricerdd collaboration with the National Eisteddfod. (Sionci)

• Contrasts an EP of piano music by distinguished Welsh composer Brian Hughes (Tŷ Cerdd Records)

Outside recording work for release, Tŷ Cerdd’s Studio operation had a busy year, packed with variety – from intensive sessions supporting composers and recording the results of the CoDi pathways, to working with a range of clients on both studio and location recordings including Welsh National Opera, for whom we created Electronic Press Kits for their main productions. A particular highlight for the Studio during this year was working on the soundtrack to the BBC series Lost Boys and Fairies , written by Dafydd James and made in Wales.

Tŷ Cerdd Publications continued its regular partnership with the Urdd and National Eisteddfod, and published several more songs for their competitions including pieces from the Hughes and Son publishing catalogue by W S Gwynn Williams and D Afan Thomas. Also published were brand new instrumental and vocal pieces by several living Welsh composers – Claire Victoria Roberts, Ethnie Foulkes, Julia Plaut, and Rhian Samuel. Eminent Welsh composer Andrew Powell had re-structured and re-shaped Welsh folk-song arrangements made by Haydn

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

to fit their traditional Welsh lyrics, for which we published his voice/piano and voice/piano trio editions for the first time.

The Welsh Music Collection continued its usual activities of providing information, scores and resources to musicians. Some of these included: sourcing repertoire for a BBC National Chorus of Wales programme with Adrian Partington; and unearthing a previously unknown Dilys Elwyn -Edwards flute piece which resulted in a recording, and agreement with her estate to publish through Tŷ Cerdd. Discussions about utilising our archive as the basis for a funded PhD began with the Open University, and we continue our work with Hilary Tann’s estate about incorporating the composer’s music as a permanent offering.

Similar discussions continued at a broader scale with members of IAMIC (International Association of Music Information Centres) at their annual conference in November, and key contacts were made with similar archives around the world. These learnings informed some of our meeting with the National Library of Wales and John Metcalf, to determine the legacy of his own music through national archives.

A keystone of Tŷ Cerdd’s commitment to developing work in the Welsh-language is our relationship with the National Eisteddfod . In August 2024 in Pontypridd, we continued our regular partnership with the Royal Welsh College of Music and Drama through a range of Discover Welsh Music concerts on the Encore stage – works by Grace Williams, Meryn Burtch and William Mathias presented by Lleucu Pary (flute) and Zoë Smith (piano) and a celebration of Welsh song with Clara Greening (soprano) and Rhys Archer (tenor) and Zoë Smith (piano). AffriCerdd featured two new commissions by black artists Frances Bolley and Asha Jane, mentored by Eady Crawford to write their first songs in the Welsh language). Artists from the Bwthyn Sonig cohorts from North and South Wales came together to perform on the Encore stage. Three new works (by Lowri Mair Jones, Nathan James Dearden and Tomos Williams) created through the Tlws y Cyfansoddwr pathway were performed on the last evening in the Pafiliwn by a quartet from Sinfonia Cymru.

Tŷ Cerdd continued to play a pivotal role in Welsh representation on an international stage. Leading a number of Wales Arts International supported delegations, Tŷ Cerdd created opportunities and represented Welsh artists overseas at the following conferences:

• ISCM (International Society for Contemporary Music) – World New Music Days took place in Faroe Islands in June 2024, platforming Welsh composer Eloise Gynn – whose solo cello work Quitening was performed by internationally celebrated cellist Zoë Martlew.

ISCM is an important network for Wales and Tŷ Cerdd, and during this year we also ran a call for scores for the ’25 event (to be held in Portugal in May 2025) and submitted a Welsh shortlist of six works to the Portuguese jury.

• Classical:NEXT , Berlin May 2024 – Tŷ Cerdd led a Welsh delegation to this global networking and exchange hub event. Dedicated to classical and art music, the event included an interactive conference, project pitches, showcase concerts, expo, and networking. Individuals awarded bursaries to attend were Nathan James Dearden, Robert Fokkens, Osian Gwynn, Leona Jones, Richard McReynolds, Michael Rafferty and Gwen Siôn.

• IAMIC (International Association of Music Centres) – November 2024, in Vienna, Tŷ Cerdd’s director, Deborah Keyser, and Publishing and Research Manager, Ethan Davies, attended the annual conference and general assembly of IAMIC , an international network of organisations that promote, document and signpost the music of their country or region

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

in a diversity of musical genres. The network is an important resource for shared learning and dissemination of best practice, and Tŷ Cerdd is an active member.

• As part of the ongoing partnership with Wales Arts International, Tŷ Cerdd worked (in partnership with Trac Cymru) to deliver the Welsh presence and delegation at WOMEX in Manchester in October 2024. A connected, and expansive, development programme was run to complement the presence, with development support for young and mid-career professionals, as well as a delegate-bursary programme. Tŷ Cerdd’s director also sat on the Horizons selection panel, working with England, Ireland/Northern Ireland and Scotland to programme a stage of artists representing each of the five nations.

Following the closure of the Vale of Glamorgan Festival after 55 years, the charity’s remaining funds were passed to Tŷ Cerdd in order to administer the distribution of grants for composer-led work. The successful applications will complete their work in April 2025 to December 2026:

• A collective of leading Welsh musicians working in acoustic, electro-acoustic and live electronic performance will present their own short sets. Featuring Rob Fokkens, Richard McReynolds, Angharad Davies, Ashley John Long, Lyndon Owen and Gwen Siôn, with newCELF and the School of Music at Cardiff University.

• Composer Claire Victoria Roberts will write a climate-responsive sextet, and Oasis One World Choir will create a new song, both to sit at the heart of a performance event by Sinfonia Cymru to mark World Environment Day 2025.

• Cameron Biles-Liddell will write a new harp concerto for North Wales International Music Festival, to be performed and broadcast by harpist Alis Huws and BBC National Orchestra of Wales.

• Storïau Cymry : this digital cantata comprising eight individual life stories reflecting the diversity of local histories around Wales will be collected and curated by composer Nathan James Dearden and creative producer Ruth Evans.

• Composer Richard Baker will write a new piece for leading contemporary performers GBSR duo (piano & percussion) – to be performed in a programme including the Welsh premiere of Angharad Davies’s new work for the duo.

• Composer Sarah Lianne Lewis will work with harpsichordist Despina Homatidou and project lead Janet Oates, bringing their initiative The Harpsichord Across Time and Borders to Wales.

In the summer of 2024, Arts Council of Wales commissioned a review of Traditional Music in Wales , and Tŷ Cerdd was contracted as project manager of the research project (in partnership with Trac Cymru), working to Angharad Wynne as Comisiynydd. The research took in a survey of the traditional music community (which attracted a higher than anticipated response) as well as in-person consultation events and one-to-one interviews. A report was submitted to ACW in spring 2025, with a resulting action plan put into place during 2025/26.

Throughout the year, a group of the staff team were engaged in Creating Transformation , an organisational development programme delivered by consultancy People Make it Work, for a ten-strong cohort of organisations from across England and Wales. Running across 18 months,

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

the programme explored the full range of structural and priority areas, including governance, recruitment, engagement, wellbeing, climate emergency and organisational culture.

Tŷ Cerdd’s Board of trustees continued to provide governance and invaluable support to the staff team through quarterly board meetings and monthly Board Shorts. The Board continued to look at ways to develop the trustees appointed in 2022-23 and how Tŷ Cerdd could make best use of their skills and expertise.

Financial review

Policy on reserves

As at 31 March 2025 the charity was reporting total reserves of £271,897 (2024: £255,364). Of this balance £122,004 (2024: £95,502) related to general unrestricted reserves and £149,893 (2024: £159,862) related to restricted reserves.

Of the unrestricted reserves a balance £107,699 (2024: £79,374) related to free reserves which are readily available to the Trustees.

It is the policy of the charity to hold sufficient reserves to meet all immediate liabilities and costs associated with any known future commitments. The level at which this balance is set is reviewed periodically by the trustees to ensure reflective of the charity’s current position.

Investment policy and objectives

Any surplus cash balances held are deposited within interest bearing accounts.

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

PLANS FOR FUTURE PERIODS

Following the outcome of the Arts Council of Wales’s increased investment in Tŷ Cerdd, artist-development become further embedded into the programme of work, alongside a range of other activities.

Plans for 2025-2026 include:

• The development of our CoDI artist-development programme, with activity including a pathway to writing for community choir and a reprise of Pathway to the Orchestra.

• Further development of Bwthyn Sonig – moving forward the work enabling learning-disabled music creators in North and South Wales (with Canolfan Gerdd William Mathias, Touch Trust and TAPE).

• Continuing to develop Interact with the Off-Grid network and Music Industry 101 skills sharing & training sessions

• Medal y Cyfansoddwr – bringing this pathway with the National Eisteddfod (started in 23/24) to Wrexham in 2025

• Affricerdd – developing this strand of positive action (in partnership with the National Eisteddfod)

We will continue to grow the Sionci label as a development platform for artists and the work of the CoDI programme.

Advancement of our Lottery schemes, ensuring representation on panels and outreach to communities.

We will develop our publishing catalogue, continuing to work with living composers, bring heritage work back into print and unearth unpublished music. And we will move forward the discussion with Wales-wide libraries and archives about working together to catalogue signpost Welsh music collaboratively.

The furtherance of our international work under #WelshMusicAbroad, including through the ISCM and IAMIC networks, and the delivery of the Wales presence at both Classical:NEXT in Berlin and WOMEX in Manchester, in partnership with Wales Arts International.

Collaborating with NAC in Canada and the National Eisteddfod in Wales (plus other international partners) to support a visit of artists to Banff and Calgary as part of the Global Women and Non-Binary Producers’ Network.

Working with Arts Council of Wales to deliver activity around their Traditional Music action plan.

Continued dialogue and planning with WMC over the development of Makers’ Spaces and office location.

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Nature of governing document

The charity is controlled by its constitution being a constitution of a Charitable Incorporated Organisation (CIO).

Recruitment and appointment of trustees

As set out in the Constitution, the Chairman and Vice Chairman are elected by, and the Director and treasurer appointed by, the trustees.

Induction and training of trustees

All new trustees undergo an induction programme, which includes:

• an induction pack that is given to new trustees (and to re-elected trustees), which includes policy and procedures such as declaration of interest, confidentiality, policies and means of assistance for member societies

• any other training which may be required from time to time.

Relationships with related parties

Arts Council of Wales

The Charity receives funding from the Arts Council of Wales, one of whose officers attends meetings of the Board, and regularly liaises with the Director. The Arts Council of Wales provided revenue grant funding to Tŷ Cerdd - Music Centre Wales this financial year in the sum of £292,500 (2023: £209,877).

Organisational structure

Tŷ Cerdd’s board of trustees meets quarterly, with frequent Board Shorts between main meetings (monthly, where possible). All trustees are required to declare conflicts of interest annually and to absent themselves from the meeting in the case of a personal conflict. Trustees are appointed for an initial term of three years and can be re-elected at Annual General Meetings (or other specially convened meetings) for two subsequent terms of three years.

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees

Claire Foster Christina Macaulay Gareth Churchill Gillian Green Giselle Dugdale Harriet Wybor (co-chair) Litang Shao Klaudia Zawadka Niamh O’Donnell Rachel Ford-Evans (co-chair) Steph Power (retired 10/12/2024) Tumi Williams

Staff

Deborah Keyser, Director Abby Charles, Head of Finance and Administration Ethan Davies, Publishing & Research Officer Freya Dooley, Artist Development Manager James Clarke, Recording Studio Manager & Producer Laila Khan, Administrative Assistant Matthew Thistlewood, Head of Content

Principal Office

The Wales Millennium Centre Bute Place Cardiff CF10 5AL

Charity Registration Number

1152853

Bankers

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HSBC, Cardiff

Auditor

HSJ Audit Limited Auditor Severn House, Hazell Drive, Newport NP10 8FY

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 10 December 2025 and signed on its behalf by:

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

Harriet Wybor

Co-chair

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Independent Examiner's Report to the trustees of Tŷ Cerdd - Music Centre Wales

I report to the trustees on my examination of the accounts of Ty Cerdd - Music Centre Wales for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustees of Ty Cerdd - Music Centre Wales you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Ty Cerdd - Music Centre Wales's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since Tŷ Cerdd - Music Centre Wales's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of Tŷ Cerdd - Music Centre Wales as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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

HSJ Accountants Limited

Severn House

Hazell Drive

Newport NP10 8FY

Date: 10 December 2025

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Tŷ Cerdd - Music Centre Wales

Statement of Financial Activities for the Year Ended 31 March 2025

Unrestricted funds Restricted funds Total 2025	Unrestricted funds Restricted funds Total 2025
Note £ £ £
Income and Endowments from:
Donations and legacies 27,169 - 27,169
Charitable activities 330,315 347,576 677,891
Other income 4,136 - 4,136
Total income 361,620 347,576 709,196
Expenditure on:
Charitable activities (338,694) (349,255) (687,949)
Total expenditure (338,694) (349,255) (687,949)
Net income/(expenditure) 22,926 (1,679) 21,247
Gross transfers between funds (80) 80 -
Net movement in funds 22,846 (1,599) 21,247
Reconciliation of funds
Total funds brought forward 95,501 159,863 255,364
Total funds carried forward 15 118,347 158,264 276,611
Unrestricted funds Restricted funds Total 2024
Note £ £ £
Income and Endowments from:
Charitable activities	262,450 292,100 554,550
Other income	1,432 - 1,432
Total income
	263,882 292,100 555,982
Expenditure on:
Charitable activities	(290,385) (282,130) (572,515)
Total expenditure
	(290,385) (282,130) (572,515)
Net(expenditure)/income
	(26,503) 9,970 (16,533)
Net movement in funds
	(26,503) 9,970 (16,533)
Reconciliation of funds
Total funds brought forward
	122,004 149,893 271,897
Total funds carried forward 15
	95,501 159,863 255,364

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 15.

The notes on pages 17 to 26 form an integral part of these financial statements.

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Tŷ Cerdd - Music Centre Wales

(Registration number: 1152853) Balance Sheet as at 31 March 2025

		2025	2024
	Note	£	£
Fixed assets
Tangible assets	9	28,523	35,280
Current assets
Stocks	10	20,604	21,285
Debtors	11	50,971	52,132
Cash at bank and in hand	12	275,318	235,233
		346,893	308,650
Creditors: Amounts fallingdue within oneyear	13	(98,805)	(88,566)
Net currentassets		248,088	220,084
Netassets		276,611	255,364
Funds of the charity:
Restricted income funds
Restricted funds	15	158,264	159,863
Unrestricted income funds
Unrestricted funds		118,347	95,501
Total funds	15	276,611	255,364

The financial statements on pages 14 to 24 were approved by the trustees, and authorised for issue on 10 December 2025. and signed on their behalf by:

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

Harriet Wybor Co-chair

The notes on pages 17 to 24 form an integral part of these financial statements. Page 15

Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Tŷ Cerdd - Music Centre Wales

Cash Flow Statement for the Year Ended 31 March 2025

2025 2024	2025 2024
Note £ £
Cash flows from operating activities
Net cash income/(expenditure)
	21,247 (16,533)
Adjustments to cash flows from non-cash items
Depreciation	2,478 4,473
	23,725 (12,060)
Working capital adjustments
Decrease/(increase) in stocks 10	681 (7,846)
Decrease in debtors 11	1,161 14,994
Increase in creditors 13	14,518 26,395
Net cash flows from operatingactivities
	40,085 21,483
Net increase in cash and cash equivalents
	40,085 21,483
Cash and cash equivalents at 1 April
	235,233 213,750
Cash and cash equivalents at 31 March
	275,318 235,233

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

The notes on pages 17 to 26 form an integral part of these financial statements. Page 16

Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Tŷ Cerdd - Music Centre Wales

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

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Tŷ Cerdd - Music Centre Wales meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those 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.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Intangible assets

Intangible assets represent recording costs in relation to online content and are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised over their estimated useful economic lives.

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.

Amortisation

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

Asset class	Amortisation method and rate
Recording costs	5 years straight line

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:

Library publications - 10% straight line Musical instruments - 25 years straight line Studio and office equipment - 20% straight line

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the weighted average method.

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2 Income from donations and legacies

2 Income from donations and legacies
	Unrestricted
	funds Total
	General 2025
	£ £
Donations and legacies;
Donations from individuals	19 19
Grants, including capital grants;
Grants from other charities	27,150 27,150
	27,169 27,169

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Tŷ Cerdd - Music Centre Wales

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

3 Income from charitable activities

	Unrestricted
	funds Restricted Total Total
	General funds 2025 2024
	£ £ £ £
Library hire charges	890 - 890 989
Recording and publishing
operations	29,126 - 29,126 38,252
Arts Council of Wales
Revenue Grant	292,500 - 292,500 209,877
Arts Council of Wales Lottery
Grant	7,800 148,200 156,000 156,000
CoDI Project	- 84,935 84,935 108,795
Tapestri	- - - 7,369
International Events	- 34,461 34,461 33,268
Womex	- 49,980 49,980 -
Trad Music Review	- 30,000 30,000 -
	330,316 347,576 677,892 554,550

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

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

Tŷ Cerdd - Music Centre Wales

4 Analysis of governance and support costs

Support costs allocated to charitable activities

Basis of	Premises costs including Total Total
	Staff costs depreciation 2025 2024
allocation	£ £ £ £
Development of Welsh Percentage
Music time spent	48,112 15,499 63,611 54,803

==> picture [213 x 39] intentionally omitted <==

Governance costs

Governance costs
	Unrestricted
	funds Total Total
	General 2025 2024
	£ £ £
Audit fees
Audit of the financial statements	- - 4,385
Other fees paid to auditors	- - 1,297
Independent examiner fees
Examination of the financial statements	2,334 2,334 -
Legal fees	194 194 852
	2,528 2,528 6,534

5. Trustees remuneration and expenses

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

Steph Power

£Nil (2024: £297) of expenses were reimbursed to Steph Power during the year.

Klaudia Angelika Zwadaka

£Nil (2024: £212) of expenses were reimbursed to Klaudia Angelika Zwadaka during the year. No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any other benefits from the charity during the year.

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Tŷ Cerdd - Music Centre Wales

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

6 Staff costs

The aggregate payroll costs were as follows:

	2025 2024
	£ £
Staff costs during the year were:
Wages and salaries	183,604 163,282
Social security costs	17,868 15,781
Pension costs	39,098 35,163
	240,570 214,226

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:

	2025 2024
	No No
Development of Welsh Music	5 5
Administration and support	2 2
	7 7

No employee received emoluments of more than £60,000 during the year

7 Independent examiner's remuneration

2025 £

Examination of the financial statements

2,334

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Tŷ Cerdd - Music Centre Wales

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

8 Taxation

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

8 Taxation The charity is a registered charity and is therefore exempt from taxation.	8 Taxation The charity is a registered charity and is therefore exempt from taxation.
9 Tangible fixed assets
Furniture and equipment Other tangible fixed asset Total
£ £ £
Cost
At 1 April 2024 62,203 31,920 94,123
At 31 March 2025 62,203 31,920 94,123
Depreciation
At 1 April 2024 50,354 12,768 63,122
Charge for theyear 1,201 1,277 2,478
At 31 March 2025 51,555 14,045 65,600
Net book value
At 31 March 2025 10,648 17,875 28,523
At 31 March 2024 11,849 19,152 31,001
10 Stock
	2025 2024
	£ £
Stocks	20,604 21,285
11 Debtors
	2025 2024
	£ £
Trade debtors	1,622 1,396
Prepayments	47,949 49,336
Other debtors	1,400 1,400
	50,971 52,132
12 Cash and cash equivalents
	2025 2024
	£ £
Cash at bank
	265,854 235,233

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Tŷ Cerdd - Music Centre Wales

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

13 Creditors: amounts falling due within one year

13 Creditors: amounts falling due within one year
	2025		2024
	£		£
Bank overdrafts		9,464	-
Trade creditors		76,577	77,576
Other creditors		1,804	3,687
Accruals		10,960	7,303
		98,805	88,566

14 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

follows:
	2025 2024
	£ £
Land and buildings
Within one year	18,688 17,764

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

15 Funds

15 Funds
	Balance at 1 Incoming Resources Balance at 31
	April 2024 resources expended Transfers March 2025
	£ £ £ £ £
Unrestricted funds
General
General Fund	95,501 361,620 (338,694) (60,080) 58,347
Designated
Tech improvement fund	- - - 20,000 20,000
Future development
fund	- - - 40,000 40,000
	- - - 60,000 60,000
Total unrestricted funds
	95,501 361,620 (338,694) (80) 118,347
Restricted funds
Grand piano	17,077 - (1,277) - 15,800
CoDi Project	72,473 84,935 (90,262) - 67,146
Lottery	43,947 148,200 (145,835) - 46,312
International Events
(ISCM, IAMIC, WOMEX)	7,051 84,441 (63,909) - 27,583
Arts Active Trust	1,423 - - - 1,423
Tapestri	13,215 - (13,215) - -
Showcase Scotland	4,677 - (4,757) 80 -
Trad Music	- 30,000 (30,000) - -
Total restricted funds
	159,863 347,576 (349,255) 80 158,264
Total funds
	255,364 709,196 (687,949) - 276,611

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Tŷ Cerdd - Music Centre Wales Annual Report for the Year Ended 31 March 2025

Ty Cerdd - Music Centre Wales

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

	Balance at 1 April 2023 Incoming resources Resources expended Balance at 31 March 2024
	£ £ £ £
Unrestricted funds
General
General Fund	122,004 263,882 (290,385) 95,501
Restricted
Grand piano	17,077 - - 17,077
CoDi Project	45,364 107,295 (80,186) 72,473
Lottery	41,190 148,200 (145,443) 43,947
International Events (ISCM,
IAMIC, WOMEX)	3,373 29,236 (25,558) 7,051
Arts Active Trust	1,423 - - 1,423
Tapestri	19,322 7,369 (13,476) 13,215
Showcase Scotland	22,144 - (17,467) 4,677
Total restricted funds	149,893 292,100 (282,130) 159,863
Total funds	271,897 555,982 (572,515) 255,364

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

The Grand piano fund represents the gift of a grand piano to Ty Cerdd.

The Tech improvement fund is held to replace and renew the IT infrastructure of the charity.

The Future development fund is held for investment in the growth of the charity including future feasibility studies.

As at 31 March 2025 the charity have elected to transfer £60,000 of free reserves to the above named designated funds. Further details of these funds is noted above.

16 Analysis of net assets between funds

	Total funds at
	Unrestricted funds Restricted 31 March
	General Designated funds 2025
	£ £ £ £
Tangible fixed assets	10,648 - 17,875 28,523
Current assets	137,040 60,000 140,389 337,429
Current liabilities	(89,341) - - (89,341)
Total net assets
	58,347 60,000 158,264 276,611

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