2020-12-31-accounts

REGISTERED CHARITY NUMBER: 1157626

PEMBROKE TOWN WALLS TRUST

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Llewelyn Davies Chartered Accountants 50 Queen Street Pembroke Dock Pembrokeshire SA72 6JE

PEMBROKE TOWN WALLS TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

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Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 11
Detailed Statement of Financial Activities 12
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PEMBROKE TOWN WALLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

The charity's objectives are:

To maintain, restore and preserve the historic perimeter and burgage plot walls, towers and lime kiln of Pembroke Town by working in partnership with a wide range of partners and stakeholders. To promote an understanding of and access to this precious heritage. Further aims include realising the potential of this nationally important historic site to contribute to the social and economic benefit of our local community through local skills development; develop sustainable tourism and realise a sense of place.

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PEMBROKE TOWN WALLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Early in 2020 the Trust was progressing well with developing its plans for the restoration of the north walls, beginning with the gun platform. Funding had been secured from Pembrokeshire County Council's Enhancing Pembrokeshire Grant, and a grant had been approved by Cad subject to our going out to tender to appoint a contractor. With their agreement, an expression of interest had been submitted to the National Lottery Fund for Heritage for a development grant of up to £250,000.

Seven construction students at Pembrokeshire College had completed a short one-term course in heritage stone masonry run by the Typw Centre, funded by PTWT. We were looking forward to being able to provide them with work experience with the contractor working on the gun platform.

Regrettably the National Lowdown due to the Covin 19 pandemic in March caused the cancellation of the AGM and halted the delivery of the north walls project and our ability to provide work experience for the students.

In April an application was submitted to the WCVA Third Sector Resilience Fund for £7,000 of funding to help us continue our activities through the Lowdown. A grant of £5,250 was approved in June, together with an interest free loan of £1,750. This was a great help to us continuing with our work and covering our overheads while maintaining sufficient reserves. We were unable to raise funds through the usual events but in December established a Pledge a Stone scheme for funding to continue the work on the gun platform in 2021.

Dorian Phillips & Co. was selected as the Stonemasonry Contractor as an outcome of the tender process and work eventually commenced in September on the gun platform to repair a major and dangerous crack, following the approval of a test patch by Cadw. Through contact with Cyfle, an organisation that obtains placements for apprentices and work experience for students, a student from Monkton was taken on for work experience and then as an apprentice by a contractor. The front gable wall of the gun platform was completed by the end of the year despite dreadful weather and Covid 19 interrupting progress.

Further work was done on developing the project plan to lease walls and land from the owners and communication with owners continues. Trustees met online and, when possible, onsite with Angela Burns MS for Carmarthen West and South Pembrokeshire; Cllr Aaron Carey County Councillor for Pembroke St Mary South and Matt Pyart, the Historic Building Conservation Officer with Pembrokeshire County Council. All gave their approval and support for our work and plans.

Three trustees recruited in 2019 all resigned for various understandable personal reasons over the year. The National Lottery Fund for Heritage rejected an expression of interest on the grounds that they could not fund privately owned property.

The Heritage Forum, an outcome of the successful Pilot Project, became more extensive than just Pembroke and so was handed to PLANED, a county wide organisation, to manage and is now running well as the Pembrokeshire Heritage Forum.

A new website was completed ready to launch in the New Year. The contract was awarded to a graduate of the Tanyard Youth Club Postcards and Podcasts Project mentored by the PTWT. The young lady decided to set-up in business as a Web Developer because of her experience in the Project.

FINANCIAL REVIEW

Reserves policy

It is the policy of the trustees to maintain unrestricted funds, which are the operational free reserves of the charity, at a level that provides sufficient funds to cover management and administration and to support occasional unforeseen items of expenditure.

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PEMBROKE TOWN WALLS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

FUTURE PLANS

The Trust is continuing to develop its plans to work with owners to lease their boundary walls and up to 10m of land inside their walls to enable us to secure funding as a leaseholder.

The Trust plans to secure funding to run a pilot scheme with six owners that can be used to encourage all owners to work with us in the future.

Pembrokeshire Built Heritage Community Interest Company has been set up with four Directors to manage activities on the walls and buildings going forward.

In 2021 we will establish a Community Benefit Scheme to complete the basis of an effective and sustainable charitable structure.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is a charitable incorporated organisation and is controlled by its incorporation documents.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1157626

Principal address

Foundry House Orange Way Pembroke Pembrokeshire SA71 4DR

Trustees

Mr M Bell Mrs E H J Gossage Mr P M Thomas Mr H Rudge Mrs D M J Bush (appointed 31/3/2020)

Independent Examiner

Kenneth John Randall Llewelyn Davies Chartered Accountants 50 Queen Street Pembroke Dock Pembrokeshire SA72 6JE

Approved by order of the board of trustees on 5 May 2021 and signed on its behalf by:

Mr H Rudge - Trustee

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PEMBROKE TOWN WALLS TRUST

Independent examiner's report to the trustees of Pembroke Town Walls Trust

I report to the charity trustees on my examination of the accounts of Pembroke Town Walls Trust (the Trust) for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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 the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

2. the accounts do not comply with the applicable 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.

Kenneth John Randall Llewelyn Davies Chartered Accountants 50 Queen Street Pembroke Dock Pembrokeshire SA72 6JE

5 May 2021

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PEMBROKE TOWN WALLS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 639 - Charitable activities 4 Pembroke Town Walls 5,250 7,409 Other trading activities 3 - - Total 5,889 7,409 EXPENDITURE ON Raising funds - - Charitable activities 5 Pembroke Town Walls 2,800 10,537 Total 2,800 10,537 NET INCOME/(EXPENDITURE) 3,089 (3,128) RECONCILIATION OF FUNDS Total funds brought forward 5,951 8,807 TOTAL FUNDS CARRIED FORWARD 9,040 5,679	2020 Total funds £ 639 12,659 - 13,298 - 13,337 13,337 (39) 14,758 14,719	2019 Total funds £ 2,924 23,397 1,602 27,923 332 72,485 72,817 (44,894) 59,652 14,758

The notes form part of these financial statements

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PEMBROKE TOWN WALLS TRUST

BALANCE SHEET 31 DECEMBER 2020

Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Debtors 8 35 - Cash at bank 11,355 5,679 11,390 5,679 CREDITORS Amounts falling due within one year 9 (2,350) - NET CURRENT ASSETS 9,040 5,679 TOTAL ASSETS LESS CURRENT LIABILITIES 9,040 5,679 NET ASSETS 9,040 5,679 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS	2020 Total funds £ 35 17,034 17,069 (2,350) 14,719 14,719 14,719 9,040 5,679 14,719	2019 Total funds £ - 15,358 15,358 (600) 14,758 14,758 14,758 5,951 8,807 14,758

The financial statements were approved by the Board of Trustees and authorised for issue on 5 May 2021 and were signed on its behalf by:

Mr H Rudge - Trustee

The notes form part of these financial statements

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PEMBROKE TOWN WALLS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

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

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES

Donations Subscriptions 3. OTHER TRADING ACTIVITIES Fundraising events	2020 £ 60 579 639 2020 £ -	2019 £ 1,983 941 2,924 2019 £ 1,602

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PEMBROKE TOWN WALLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

4. INCOME FROM CHARITABLE ACTIVITIES

Activity Grants Pembroke Town Walls Grants received, included in the above, are as follows: National Lottery Fund for Heritage Welsh Government Pembrokeshire County Council P & H Thomas fund 5. CHARITABLE ACTIVITIES COSTS Direct Costs £ Pembroke Town Walls 12,630	2020 £ 12,659 2020 £ - 5,250 7,409 - 12,659 Support costs £ 707	2019 £ 23,397 2019 £ 13,514 4,883 - 5,000 23,397 Totals £ 13,337

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,924 - Charitable activities Pembroke Town Walls - 23,397 Other trading activities 1,602 - Total 4,526 23,397 EXPENDITURE ON Raising funds 332 - Charitable activities Pembroke Town Walls 3,275 69,210 Total 3,607 69,210 NET INCOME/(EXPENDITURE) 919 (45,813)	Total funds £ 2,924 23,397 1,602 27,923 332 72,485 72,817 (44,894)

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PEMBROKE TOWN WALLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

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7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund fund funds
£ £ £
RECONCILIATION OF FUNDS
Total funds brought forward 5,032 54,620 59,652
TOTAL FUNDS CARRIED FORWARD 5,951 8,807 14,758
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Other debtors 35 -
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Other creditors 2,350 600
10. LOANS
An analysis of the maturity of loans is given below:
2020 2019
£ £
Amounts falling due within one year on demand:
Other loans 1,750 -
11. MOVEMENT IN FUNDS
Net
movement At
At 1.1.20 in funds 31.12.20
£ £ £
Unrestricted funds
General fund 5,951 3,089 9,040
Restricted funds
Pembroke Town Walls 8,807 (3,128) 5,679
TOTAL FUNDS 14,758 (39) 14,719
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PEMBROKE TOWN WALLS TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming resources £ Unrestricted funds General fund 5,889 Restricted funds Pembroke Town Walls 7,409	Resources expended £ (2,800) (10,537)	Movement in funds £ 3,089 (3,128)
TOTAL FUNDS 13,298	(13,337)	(39)
Comparatives for movement in funds At 1.1.19 £ Unrestricted funds General fund 5,032 Restricted funds Pembroke Town Walls 54,620	Net movement in funds £ 919 (45,813)	At 31.12.19 £ 5,951 8,807
TOTAL FUNDS 59,652	(44,894)	14,758

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Pembroke Town Walls	Incoming Resources resources expended £ £ 4,526 (3,607) 23,397 (69,210)	Movement in funds £ 919 (45,813)
TOTAL FUNDS	27,923 (72,817)	(44,894)

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PEMBROKE TOWN WALLS TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Restricted funds Pembroke Town Walls TOTAL FUNDS	Net movement At At 1.1.19 in funds 31.12.20 £ £ £ 5,032 4,008 9,040 54,620 (48,941) 5,679 59,652 (44,933) 14,719

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Pembroke Town Walls	Incoming Resources resources expended £ £ 10,415 (6,407) 30,806 (79,747)	Movement in funds £ 4,008 (48,941)
TOTAL FUNDS	41,221 (86,154)	(44,933)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

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PEMBROKE TOWN WALLS TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

INCOME AND ENDOWMENTS Donations and legacies Donations Subscriptions Other trading activities Fundraising events Charitable activities Grants Total incoming resources EXPENDITURE Other trading activities Fundraising expenditure Charitable activities Insurance Office costs and overheads Miscellaneous expenses Subscriptions Architect Contractor services Training Repairs and renewals Support costs Finance Bank charges Governance costs Accountancy fees Professional fees Total resources expended Net expenditure	2020 £ 60 579 639 - 12,659 13,298 - 756 2,008 56 30 - 9,723 - 57 12,630 72 600 35 635 13,337 (39)	2019 £ 1,983 941 2,924 1,602 23,397 27,923 332 1,221 1,317 143 42 25,932 31,140 12,000 11 71,806 79 600 - 600 72,817 (44,894)

This page does not form part of the statutory financial statements

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