REGISTERED CIIARrrY NUMBER: 1157627 REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION Xeinadin Audit Limited Ststutory Auditors and Chartered Accountants 24 Lammas Street CannarthenshiTe SA313AL
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Report of the IndependeDt Auditors Statement of Ffinancial Activities io Ba1Ce Sheet Notes to the FinAnelal StslemeDts 12 to 17
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Th¢ trustees present their report with ihe financial statements of ihe Charity for the year ended 31 March 2024. The tn]stees have adopted the proiisions of Accounting and Rwrting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts in ardance with the Financial Rep)rting Standanl applicable in the LfK and Republ1¢ of Ireland (FRS 102) (effedivc l January 2019). OWECTIVES AND ACTIVITIES Objectives and aims The objectives of ihe Williams Brown Hill CIO are for the public benefit, such purposes which are exclusively ¢haritsbl¢ according to th¢ law in England and Wales, as the charity and Trustets in their absolute discretion shall d¢terniine from time to time. The objective of the Williams Brown Hill Charitable Incorporated Organisation is to provide funds io worthy causes priMllY in Wales. The objectives and aims ar¢ to support and assist other charities by way of financial donations and non-registered bodies including individuals and organisations, again for worthy purposes including> It not limited to, educatio personal development and for LSeS which will assist the uCatIon, personal and so¢ial advancement of the wider community. The chwity attracts applications from the local and wider community and upon review of the applications generally quarterly? th¢ TThstees will Teview the applications on their merits and decide on the Icvel of donation to be graniel if A review of finances shows that despile the charity having distributed over £1,100,000 since its formatio the investments held by the charity were still over £1 million out of the £1.8 rnillion originally invested. IWhil* the TSte¢S appre¢iate Éhat thetr is of course the issue of inflation the fmancial posltion is in line with the charity's policy on reserves as set out below. Publi¢ benefit The Trnstees ¢onfJrn) that they have complied with the duty in Section 17(5) of the Charities Ac 2011 to have due regard to public benefit guidance published by the Charity ConunlOn. Significant actives that were undertak¢n during the year danonstrate public benefit and are set out in the following pages. Page I
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ORIECTIVES AIYD ACTIVITIES Significant activities and a¢hievemeDts Durfftng the period 1st April 2023 to the 31 st of March 2024 the charity received 47 applications. The Te¢S w¢r¢ mindful as lo the sums to be distributed the charity has a se¢ ¢apital sum and its on]y inc¢The will be from investments, the ¢harity does not undertake any fundrnising. The Trustees therefore We mindfil of the necassity to make limit donations during the first few years in order to allow an opportunity for the investments to settle and income to be earned. The strength of the market has however allowed Éhe Trnstees to make substantial donations during this P10d. During th¢ peTiod 29 donations have been made to charitie5 and other organisations amounting lo £71.120. These gifts are broken dovm as follows. l. Clwb Pe1drO Cwmamman- This is an application by the club for financial support to undertake improvonents of th¢ ground and partT¢ular fencing. This is parti¢ularly busy club which do&s a lot of WO for the commwiity. Award made £3,000. 2. Dlnefwr group RDA- This is an application for a modest sum to help buy helmets for dTiV¢. Award made £320. disabled so that they can 3. The 3H Foundation- This is an applicatioj) by the foundation to assist disabled children going on holiday. Award made £400. 4. St Cadog's ¢hurch- This is an application by the Church for meeting the cost maintenance and in particular graved. This is Mrwilliams home thur¢h and close to his heart. Award made £2,400. 5. Ammanford RFC- AppliClOn for improvement w0S at the ground particularly floodlighls. This is a worthwhile cause due to the number of people that utilise the ground and is supported by the club. They have not however pul their costings for the work and if they do so and provide proof of funds then the charity would award £13,500. Award made £l3.500 6. This is an application by Louise Davies on behalf of Macmillan. They are undertaking the mighty Hike to Taisc money. Award mad¢ £1,500. 7. Capcl Bethlehem- This is an application for cost of rwairing the Ileating system of £7,000. Thc trustees do have some concem of the liability of the chapel however il is the help of the Community. Award made £3,500. 8. Llandeilo pride- This is an application by a new organisation for a wide event in Llandeilo, Award made £600. 9. Llandovery Youth and Community CeDlre -This is a worthwhile organisation which the chlty has previously supported. They represent for ning the Llandovery are& Award made £1,000. 10. Capel Bethlehem - This is an application by the chapel for a new organ. The tru5teas did raise concern as to the long-lerni viability of the Chapel however Ihey are only seeking m(Kl&qt amount and it felt therefore worthwhile to SUprt the Chapel for the work it doe5 in the wmmunity. Award made £400. I l. Tycro&s Evangelistic Hall - They are seeking aj) award of £3,000 to undertake work on their roof. The Injstees whereas to the use of the hall for the wider, Award made £1.500 12. YsowCn Community Centre - They are raising fvn¢ts for a new minibus. The community is a VI part of the community up in Ystrndowen and the minibus is integral in this regard. Upon review the financ thry alray have, an award of £9,000 was made subject to match funding. Award mad¢ £9.000. Page 2
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBcTIVEs APID AcfiiqTIES 13. Llandeilo Festival of Music - This is an organisation that the charity has previously supported. They are an annual music festival in Llandeilo which is an important part of the community in Llandeilo bringing a lot of rev¢nue to the town. Award made £l,l)00. 14. Burry Port Bowls Club - This is an application by the Club for an aerntor and hedge ttimming machine and arc seeking £3.000. The Bowls club is a great assistance to pcople in the Burry Port, particularly rnore elderly an important social point for the area. Award made £1,000. 15. Mudiad Meiihrin ct Henri- This is an application for just over £7.000 in relation to running the Meitl)rin. Thc Meithrin is a worthwhile organisation which a8SiSts young parents through the medium of W¢lslL The Tnte¢S had some concern as to th¢ payment of salaries. Award made £1,000. 16. Llwyfan Lland¢ilo - This is a n¢w venture to help bring the community together and give TOSC to children and adults alÈke in putting on pantornimes and plays. They are tying to be self-funding but need &ssAs¢ance to gct off the ground. Award made £500. 17. Crugybar Village Hail - This is work that the community used to undertake to make the hall safer and more user fri¢ndty for users. They are seeking £7,638. Award made £2,000. 18. Shadows Dcpre5sion Support GrouTr This is a support group that does good work assisting those suffering from mental health issues and are seeking just over £3,000 however it is unclear how the figures have been cal¢ulated. Award made £1,000. 19. Brynamman Public Hall & In#ithte - This is a volunteer njn organisatioffj the public hall in Brynanan. The public hall is extremely busy and hub of the community. They are in dwerately need of a new boiler and heating system. They have undertsken funding work themselves and as such this 15 Worthwhile. Award mad¢ £4,500. 20. Trimsaran Village FoTum - This is an application by the community fonjm to undertake work on a park and improv¢ lighting. They are seeking alrnost £19.000. Whilst this is a worthwhile cause, and the park would ben¢fit the village we felt like greater work could be done by the community to fundraise and of Course our charity has limite{1 resource& Award made £1,000. 21. Clwb Rygbi Pontiets LTD- This is an application for £20,IX)O out of £43.000 for new lights at the Club. It appears they are seeking fvnding from various grants but are only committing a small arnount of money themselves out of their reserves. The rugby club is a hub of the commwiity and important to the community and therefore should be supported, however it was felt a bit of work thould be done by the club. Award made £2.000. 22. Carway & District Welfare Association - This is an application for £20,000 out of £212,000 in relation to a play area Again, the organisation is doing a lot of work fimdraising and there is a quelOn as to whether again they should be fundraising. Award made £1,000. 23. Llandovery Trinning Association This is an application by the Twinning Association to hdp with costs of the Twimiing celebrdlions. This is an important cultural event for the tow and they were seeking match ndIng of £5,000. Award made £251)0. 24. DPJ Foundation - This 18 an application By Asl)mole & Co to assist in Telation to their fundraising for the DPJ Foundation which is a charity wbich assists the agri¢ulturai community. This would have been something close to Mr Williams, heart. Award made £3.000. Page 3
WILLIAMS BROWN HILL CHAIUTABLE INCORPORATED ORGANISATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ORJECTIVES AND ACTIVITIES 25. Dawnswyr Penthyd - This is an application by the club for just over £9,000 to assist with costhmffj clogs and venue hire. This organisation has previously receiv £4,000 in June 2022. The organisation does a lot of good work in the Community parti¢ularly with young people. Award made £2.000. 26. Cantorion Llandeilo Singers - This is an application in order to assist with the costs of setting up a concert to raise fimds in this case for Alzheimer's society. This is an organisation that has received four previous grants from the charity lolalling aln)ost £19,0(10. Award made £1,000. 27. POntyeS Welfare Association - This is an application for general rnodificion improvement lo the hall which is a busy local hall with numerous users and would beneftt the community. Award made £2,000. 28. Box of Fists - This is an application for a boxing club in Uandeilo which is seeknng to proNide activities for young people in the town and are a worthM41ile cause. Award made £5,000. 29. An)nwrford AFC - This is an application by the football club to undertake the works at the propety to improve facilities atthe ground. Award made £3.500. Summa ' of th achievements of the chari tbrou Pl¢ sec the main activities section above. The charity has distnlyuted the sum of £71,120 acro a broad spectnlln of the community assisting both the young and the elderly the disabled and abled bodied. Whilst there has been a concentlon on loc&1 causes such as Iwal stKJrts club's national organisations have also benefit1. FINANCIAL REVIEW Reserve5 po]i¢y The charity relies upon the capital sum received from the estate of the l¢ Mr J J Williams to rdise income from investments. Ivhile the Trns¢e¢s have the power to distribute some or all of the capital, the current view of the Trustees is that as much of the capitsl should be retained as PolbIt in order that the charity may donate &s much money as possible for a lengthy pttiod of time in order to create a lasting Icgacy. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Williams Bromqthill is Tegistered &$ a Charitable In¢orpornted Owisalion (CIO). The charlty is governed by a Constithtion dated 27 June 2014. R¢cniltment fdDd YdPPOiDtment of new trustees The trnstees have regard to the skill& knowle41ge and experience nthled for the effective administration of the CIO when s¢lecting individuals for appointment 18 charity trustee. Tnle¢S have been selected and appointed to ensure that the board has medical. research & development and d1g and ergonomics skills, all of wl)ich are considered to be vital to enable the CIO io achieve its charitable objectives. Risk manggement The trtceS have a thity to i<knttfy and review the risks to whi¢h the Chlty is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The key risk to the charity is the downturn of the econorny Teducing the value of the investments hdd in shaTCS. The shares are held in low to MluM risk investments wilh an aim to mlMise returns whilst minimising risk. REFERENCE AIYD ADMINISTRATIVE DETAILS Registered Charfty number 1157627 Page 4
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGlSATIoN REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 IIqARCH 2024 Principal addr¢58 LIy5 Cemien Solicitors 52 College Road CaTsnaensh1[c SA18 3AG Trustee% MrHTRees Mr H O Davies Mr5 S L Howell Auditors Xeinadin Audit Limited Statytory Auditors and Cbartered Accow)lants 24 Lammas Street Cam)arthen Carni8rth¢nshire SA313AL STATEMENf OF TRUSTEES, RF.SPONSIBILIT The t]ust¢ES ore responsible for preparing thc Report of the Trustees and the financiEI statements in with applicable law Jnd Unit<d Kingdom Aceow)ting Standards (United Kingdom Gen¢Tally Accepted AccoTWting Prgetieol The Iaw applicable to charities ill England Ind Wale5. the Chwities Act 2011, Charity (Accounts aTrJ Reports) Re8ul4tions 2008 and the provisions of the trnst deed requtyes IFAe trustees to prepare fillancial for each fmancial year which &ve a tse and fair view of the state of affait3 of the charity and of the incoming and application of r¢gources, includin8 the Tncome and expendirur¢, of the chartty for that pertod. In.PfeNry those fJnan¢ial statements, the truste¢8 are required to select suitsble acrT)Unting policies and then apply them con6iSt¢ntly' observe th¢ rnethods aud prit]ciple5 in the Charity SORP. o)akeJudE¢ments and estimat¢s that are re&qonable and pruden¢ prepa the finallcial statemcnts on the Boing concern b&8is unless it is Rnappropriate 10 presum¢ ihal th¢ dwity will contsuuc In businEss. The responsible for keeping proper ac¢ountiDg CordS which disclose with reasonabl¢ a¢curary 4 any time the fitwicial position of tbe charity and to enablc them to ¢nsure that the financial statements comply with ChaTities Act 2011, the Chatity (Aecounts Report5) Regulations 2008 and the provisions of the Irust deed. Thcy are aLso resporlsible for 8afeguardirJ8 the &%se15 of ihe chaTSry and hence for tsking reasonable steps for the prevtion and detection of fiaud and other ]rrearities. ILUS.. and signed on its bchalf by.. Page 5
REPORT OF THE INDEPENDENf AUDITORS TO THE TRUSTEES OF WILLIAMS BROWN HILL CHARfTABLE INCORPORATED ORGANISATION Oplnlon We have audited the financial stalements of Williams Brown Hill Charitable Incornied Organisation (the 'chaTity') for the year ended 31 March 2024 which comprise the Ststemen¢ of Financial Activities, the Balance Sheet and notes lo the financial statements, including a summary of Si11ficant accounting poli¢i¢s. The financial rq)orting framework that has been applied in their preparntion is applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Genernlly Accepted Accounting Practice). tn our opinion the financial stalements: give a true and fair view of the state of the charity's affairs &s at 31 March 2024 and of its incoming raUrCeS and application of resour¢¢4 for the year then elld,. have been properly prepared in cordanCe with unit Kingdom Generally Accepted Accounting Practice. and have been wepaTed in accordance with the requirements of the ChaTiti¢g Act 2011. Basis for opinion We conducted our audil in aOrdance with International Standards on Auditing (UK) (ISAS IUK)) and applicable law. Our responsibilities under those standards are furthv described in the Auditors, resTK)nsibilities for the audit of the fmancial slalements section of our Twrt. W¢ are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the fmancial statemenis in the UK including the FRC'S Ethical Stondarl and we have fulfilled our other ethical r•)nsibilities in accordance with these ruireMents. We believe that the audit evidence we have obtaine41 is sufficient and appropTiate to provide a basis for our opinion. CoDduslons rd8tlng to going concern In auditing the financial Statemen we have con¢lud¢d 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 perfomed, we bave nol identifled any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the chatitys ability to Continue as a going concern for a p10d of at least twelve months from when the fmancial statements ar¢ auihorised for issue. Our responsibiliti and the Tesponsibilities of the In]stees with respect to going concern are described in the relevant sections of this rq)ort. Other Information The trustees ar¢ rwonsible for th¢ other infornMtion. The other infomjation comprises the infornlation included in the Annual Report, other than the financial statements and ourReport of the Independent Auditots themn, Our opinion on the fmancial statements does not cover the oth¢T inforniation and, except to the extent otherwise explicitly stated An our rq)ort, we do not expr¢&s any forni of assurance conclusion then. In connection with our audil of the financial staiements, our responsibility is to read the othcr infotmation and. in doing so, ¢onsider whether the other InforntiOn is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially miss)j. If we identify such material inconsistencies or apparent rnaterial missxatements we are required to detemiine whether this give5 rise to a material misstalement in the financial statements themselves. If, based on ihe work we have forme1 we conclude that th is a material mi&st*ement of this other inforniation, we are required to Teport that fact. We have nothing to repN)rt in ihis regard. Matters on which Jve are required to report by exeeption We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 28 requires us to report to you if, in our OPiDiOn: the inforn]ation given in the Report of the Tnlstees is inconslstent in any material respect with the financial statements or suificient accounting records have not been kq)t' OT the fJnan¢ial statements are not in awent with th¢ accounting records and returns" or we have not received all the infonnation and explanations we requi for our audit. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION Re5ponsJl)ilities of tru5te¢$ As explained n)ore fully IA the Statement of Truste£s' Responsibilitie4 the trustees are responsible foT the preparntion of the financial statements which give a trne and fair view, and for such internal control &$ the trnstees detennine is necessary to enable the preparntion of financia] statements that are free from nMterial mi5Statement, whether due to fraud or eOr. In prepaTing the fiT]ancial statements, the trn5tees are responsible for assessing the Charity ability to continue &s a going Conce disclosing, as applicable, matters related to going con¢¢rn and using th¢ going concern b&sis of accounling unless the trustees either intend to liquidate the charity OT to operations. or hav¢ no realistic alternative but to do Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION Our responsiTrllides for the audit of tbe finanelal statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and rq)ort in accordance with the Act and relevant regulations made or having effect ibereunder. Our objectives are to obtsin rc&8onable &ssurance about whether the financial statements as a whole arc frtt from Matla1 mi&statemenL whether due to fraud or e0T, and to a Kq of the IndLwendeni Auditors that includes our opinion. Reasonable assurdnce is a hi¥h levd of assllrdnc4 but is not a guarantcc that an audit conducted in a¢¢ordance with ISAS (UK) wilE always detect a mateTial 1$tatement when it exists. Misstatcments Can arlse from fraud or crrnT and are considered materia] if, individually or in the aggrege, they could reasonably be expectcd to infiuence the economic decisions of users taken on the basis of these financial statcments. Th¢ cxtent to which our pmc£dures are capable of dctccting irregularitie4 including fraud is detailed below: Extent to which the audit Tryas considered capable of detecting irregul4rities, including fraud We identify and assess the risks of material mi8statcment of the financial ststements, whether due to fraud or ern)r, and then design and perfonn audit procedures responsive to thos¢ risk& including obtaining audit evidence that is sufficient and appropriale to prolide a basis for our opinion. Idelltlf)rfng and wsessing potential rlsks related to irregularities In identifying and assessing risks of material mikatement in respect of irrylarities, including frdud and non-compliance with laws and regulations, wc Considered the following: the nature of the industry and tor, control environment and business perforn]anc¢ ilOIng the d&sign of the Charity's remuneration policies and performan¢¢ target4 results of our enquirles of management about their identification and assessment of the risks of ]egUlaTitIeS any matters we identifi¢d having obtained and reviewed the Chatity's documentation of their poli¢ies and proeedures relating to: identifying. evaluating and complying with laws and regulations and whether they were of any instances of noncompli dettIng and responding to the risks of fraud and whether they have knowledge of any actual, susp¢¢4 or alleged fraud. the internal controls established to mitigate risks of fraud or non<ompliance with laws and regulations. the matters discussed among the audit engagement team regarding how and where fraud might occur in the flnancial statements and any potential indicators of fraud. As a r£sult of thcsc procedure4 we considered the opportLmiti&8 and incentives that may extst within the organisation for fraud and identified th¢ greatest potential for frdud in Tclation lo revenue recognition. tn common with all audits under ISAS (UK). we are also required to perforn) specific procedures to to the risk of management OveId We also obtained an understanding of the legaI and regulatory frameworks that thc Charity operates I fijcusing on provisions of those laws and regulations that had a direct effect on the detern]inatson of material amounts and disclosures in the financial statements. The kcy laws and regulations we consided in this context included the Charitics Act 2011. In addition, wc considered provisions of other laws and regulations that do not havc a direct effect on the financial statements but compliance with which may b¢ ndamental to the Chariws ability to opeTate or to avoid a material ty. These included compliance with Health and Safety Icgislatioffj Employment lelatiOn and Data protection laws (including Genernl Data ProtectiOT] Rcgulation (GDPR)). Audit response to risks identified As a result of perforniing the abovc, we identified revenue reco]1110n a k¢y audit matter relate4J to the potential risk of frau Our procedures to respond to risks identified included the following.. reviewing the financia] statement di%losures and testing to supporting documentstion to &esS compliance with Provisions of relevant laws and wlations d¢scribed as having a direct effect on ihe fJnan¢ial statement Carrying out walknhrougK transaction testing or proof in totsl on all material income and expenditure streams. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION enquiring of management conceTning actu and potentia] litigation and claims. performing analytical procedures to idenlify any unusual or unexpected relationships that may indicate risks of material misstatcment due to fraud,. ding minutes of meetings of those charged with governance and the senior management team,. In addressing the risk of fraud through management oveJTide of control4 tesling the appropTialeness ofjournal entsies and other adjustments. assessing whether th¢ judgements made in making accounting estimates are indicative of a potential bi4 and evaluating ihe business rntionale of any signifi¢anl transactions that are unusual or outside the nornial course of businw. We also communicated relevant identified law4 regulation& and potential fizud risks to all engagement team members and remained alert to any indicalions of fi7ud OT noncompliance with laws and regulations throllghout the audit. A further description of our responsibilities for tbe audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditoTsresponsibilities. This description fornls part of our Report of the Independent Auditors. Use of our report This report is made solely to the tharity's trnstees a trf)dy, iT] ac¢4)rdance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the charitys trnstees those matters w¢ are required to state to them in an auditors, rq)ort and for no other purpose. To the fullest extent pemlitted by law, we do not ac¢ept or assume responsibility to anyone other Ilwi the charity and the charity'5 t¢$ as a body, for our audit work, for this repo¢ or for the opinions we have fonned. Xeinadin Audit Limited Statutory Auditors and Chartered Accounlants 24 Lammas Stre Camiarthen Cam)arthenshire SA313AL Page 9
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGAYL ISATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 Unrestricted nd 31.3,23 Totsl fvnds Notes INCOME AI¥D ENDOWMENTS FROM Donations and legacies io Investment incorne 11,180 10,230 Total 11,180 10,240 EXPENDITURE OIY Raising fimds 6,358 6,801 Charitable aetirftles GTant making 113,867 92,548 Totsl 120,225 99,349 Nd gainsloosses) on investments 67,210 (68,887) ET INCOMEIIEXPENDTfiJRE) (41,835) (157,996) RECONCILIATION OF FUNDS Totsl funds brought forward 1,108,417 1,266,413 TOTAL FUNDS CARRIED FORWARD 1,066,582 1,108,417 The notas forni part of these financial statements Page 10
wtLLtAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION BALANCE SHEET 31 MARCH 2024 31.3.24 U]¢StriCted fund 31.3.23 Totsl funds Notes CURRENT ASSEIS Investments Cash at bank 1,087,135 2,188 ,I15,104 9,759 1.089,323 ,124,863 CREDITORS Amoullts falling due within one year io (22,741) (16.446) NET CtJRRENT ASSETS 1,066,582 1.108,417 TOTAL ASSETS LESS CURREP4T LIABILITIES 1,066,582 1,108,417 NET ASSETS 1,066.582 1,10&417 Unrestricted fid$ 1,066,582 1.108,417 TOTAL FUNDS 1,066,582 1,108,417 Th¢ financial Sratements were approved by the Board of TTUStVe5 and &uihorised frtr issue on SQ/.oJ./.2o.2S....,... .. andw¢r¢ Signed on its behalf by: Da%'ies- Tn1¢¢ Mrs S L Howell- Trutee Mr H T Rees. TNstee The not¢s fonn part ofthcse financial ststements Pagell
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNfiNG POLICIES BASIS OF PREPARING THE FINAIYCIAL STATEMENTS The financia] statements of the charity, which is a public benefit enttty under FRS 102, have been prepared in accordance with the Charitic5 SORP (FRS 102) 'Accounting and Reporting by Charities.. Staiem¢nl of R¢comm¢nded Practice applicable to Charities preping their accounts in accordance with the Financial Rq)orting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting St8ndard 102 The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland, and the CIWIti Act 2011. The financial statemenis have been prepared under the histoticai cost onvention. FINANCIAL REPORTING STANDARD 102. REDUCED DISCLOSiJRE EXEMPTIONS The charity has taken advantage of the following disclosure exemption in preparing these finan¢ial statements as pem]itted by FRS 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flow& COME All in¢ome is recognised in the Statement of Financial Activities once the charity has entitl¢ment to the fund4 it is probable that the income will be Tettived and the amount can b¢ me&wred rdiably. EXPENDJTURE Liabilities are recognised as expenditure as soon as there is a legal or constNctive obligation committing the charity to that expenditure, it is Probable that a trdnsfer of onoMiC benefits will be rquired in settlement and the amount of the obligation can be measur¢d reliably. Expenditure is accounted for on an accruals basis and has betn classified under headings that aggregate au cost related to the category. Where costs cannot be directly attributed to Particular beadings they have been allocated to activities on a basis consistent with the use of lffecoverable VAT is charged against the exJThditure heading for which it was incurred. Grdnts offered subje¢t to ¢onditions which have nol been met at the year end date are noted ag a conllnitment but not accrued as expenditure. RAISJNG FUNDS The cost of rdising funds consists of investment managernent costs. CHARtTABLE ACTITrITIES Cost of charitable activiti includes grnnts mad4 governance costs and support costs. TAXATIOIY The charity is exempt from tsx on its clwitable activities. FUND AccoiJNfING u1wcstrict funds can be used in ac¢ordance with the chaTilablc otyectives at the discretion of the trnstee5. Restiicted funds can only be used for particular rleted purpo within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for partiw]ar restiicted pUoSe5. Further explallation of the natUTe and putpose of each fvnd is included in the notes to the financial statements. Page 12 continued...
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGIINISATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR EI¥DED 31 MARCH 2024 ACCOiiNTING POLICIES- continued CURRENT ASSET ImSTmEN[s Investments are a form of basic financia] instTument and are initially recognised at their transa¢tion value and subsequently measured at their fair value as * the balance sheet date Using the closing quoted market price. The Stalemcnt of Fijie1al Activities includes the nLX gains and losses arising on revaluation and disposals throughout the year. The Trust does not acquire put options, derivatives or other complex financial instnLments. IALIsED GAINS AND LOSSES All gains and losses are taken to the StatemeJ)t of Financial Activities as they arise. Realised gains and losses on investment are calculated as the difference between sale prweeds and their opening carying value or their purchase price if acquir subsequent to the first day of the financial year. Unreaiised gains 2nd losses are alculated &8 the difference brtween the fair value * the year end and thcir caTrying value. Realised and unrealised investrnent gains and losses ate combined in thc Statement of Financial Activities. INVESTME INCOME 31.3.24 31.323 tnveslrnent income 11.180 10,230 RAISING FUNDS INVESTMENT MANAGEMENT COSTS 31.324 31.3.23 Investsnent managernent cosls 6,358 6.801 GRANTS PAYABLE 31.3.24 31.3.23 Grant making 91,120 73,895 During the period endfyl 31 March 2024 the charity paid wts toialling £91,120 to institirtions and £nil io individuals. Detsils of these can be found in the Report of the Trustees. This includes a £20,000 payment included in last years Contingent liabilities and excludes any grants awarded in the year subje¢l to conditions whi¢h had not been met at the year end. These are shown Nrythin the ¢ontingent liability note. In the prior period grants tota]ling £75,895 were paid to instltutions and £nil were paid to individuals, Page 13 continued...
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS Governance costs Finance Totsls Grnnl making 15 210 22,522 22.747 AUDITORSI REMUNERATION 31.3.24 31.3.23 Fees payable to the charity's auditors for th¢ audit of the charitys fitwicial statements Auditors, rernuneration for Lon audit work 1,070 1,630 1,015 1.564 TRUSTEES, REMUNERATION AND BENEFITS Thcrc were no ttvstees, remunerdtion or other benefits for the year ended 31 March 2024 nor foT the year ended 31 March 2023. TRUSTELS, EXPENSES There were no trust, expenses paid for the year ended 31 March 2024 nor for the year endeil 31 March 2023. COMPARATIVES FOR THE STATEMEKf OF FINAIYCIAL ACTIVTfIES Unrestricted nd INCOME AND ENDOWMENTS FROM Donations and leg7¢$ io Investment income 10,230 Totsl 10,240 EENDTTuRE ON Raislng funds 6,801 Charitsbk actiTrities Grant nkIng 92,548 Total 99J49 Net gainsl(losses) on investments (68,887) NET INCOMEI(EXPENDITURE) (157,996) RECONCILIATION OF FUNDS Total ndS bTought forward 1,266,413 Page14 continued...
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE STATEMKNT OF FINANCIAL ACTIVITIES- continued UnTestrieted fimd TOTAL FUNDS CARRIED FORWARD 1,108,417 CURRENf A&8ET INVESTMENTS 31.3.24 31.3.23 Listed investments 1,087,135 1,115,104 io. CREDITORS.. AMOUNTS FALLll¥G DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade Creditors Other Creditors 210 22,531 16.446 21741 16,446 11. MOVEMENT LY FUNDS Nct movement in funds At 31.3.24 At 1.4.23 Unrestricted funds G¢n¢rnl fund I,108,417 (41,835) 1,066,582 TOTAL FUNDS 1,108,417 {41,835) 1.066582 Net movement in funds, included in the above ate follows: Incoming resources ReSoUeS expended Gains and losses Movement in fimds UDrestrieted funds General fund 11,180 {120225) 67210 (41,835) TOTAL FUNDS 11,180 (120,225) 67210 (41,835) Page 15 continued...
WILLIAMS BROWN HILL CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ii. MOVEMEwf IN FUNDS- ¢ontinued ComparathTes for movement In funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fvnd 1,266,413 (157,996) 1,108,417 TOTAL FUNDS 1,266,413 {157,996} 1,108,417 Compardtive net movement in funds, in¢lud&l in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestrl¢ted funds General fund 10240 {99,349) (68,887) (157,996) TOTAL FUNDS 10240 <99,349) (68.887) (157,996) 12. CONfiNGENT LIABILITIES The following org8nisations have been award grants contingent on them raising the additional funds required: Grant recipients 2024 2023 Conditions Amman United Cacrbryn Welfare Association YIE 31.3.22 y 31.3.23 20,000 Subject to proof of match funding 9,0(Kl SUbJt to proof of funds to proce 9,0(K) Th¢ organisations had not met these conditions at the year enl as such the grants are recognised as a contingent liability and not included within expendiNre in th¢ year. Page 16 continued...
WILLIAMS BROWN HILL CHAIUTABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 13. RELATED PARTYDJSCLOSURES Entiti¢% of which the entity has control, joint control or significant intluence: The trustees are all parthers in Llys Cennen. No amounts were due at the year end {2023: £NIL}. F¢¢5 and accrned fees of £19,831 were charge4J by Llys Cennen during the year (2023 . £13,882}. Page 17