REGISTERED CHARITY NUMBER: 1158239
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2025
for
Ymddiriedolaeth Susan Williams-Ellis Foundation
Ymddiriedolaeth Susan Williams-Ellis Foundation
Contents of the Financial Statements for the Year Ended 5 April 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 to 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 24 |
| Detailed Statement of Financial Activities | 25 to 26 |
Ymddiriedolaeth Susan Williams-Ellis Foundation
Report of the Trustees
for the Year Ended 5 April 2025
The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. 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
To establish and maintain an Archive, Museum and Gallery
The aim is to establish and maintain an Archive, Museum and Gallery for the benefit of the public by exhibiting art and other works by Susan Williams-Ellis, Clough Williams-Ellis and their family in accordance with the wishes of the Trustees to ensure entry for the public to study and be inspired by the work.
To promote Art & Culture
To promote art including visual art, design, literature, performing arts, music, dance, theatre, sculpture, painting, film, concerts, festivals, fairs, eisteddfodau and crafts and craftsmanship.
The Advancement of Education
To advance the education of the public in the subject of arts and crafts, literature and performance arts in such ways as the Charity's Trustees think fit to include offering scholarships, maintenance allowances or grants tenable at any university, college or institution of higher or further education and awarding scholarships, maintenance, allowances or grants to enable those engaged in such education to experience bursary, placement and residential at the Foundation premises for the purpose of carrying out their chosen field of education in literature, arts, painting, design, sculpture, music, performance and other recognised art form as the Charity Trustees think fit.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
Once again 2024-25 was a busy year for the charity, with a number of exhibitions & events taking place. A full breakdown of the main charitable activities is available on the website - https://www.plasbrondanw.org.
FINANCIAL REVIEW
Financial position
Net deficit for the year, including the revaluation of the investment portfolio, was £145,877 (2024: net surplus of £113,441). The investments contributed a net revaluation loss of £109,644 in the year (2024: net gain of £127,336).
Page 1
Ymddiriedolaeth Susan Williams-Ellis Foundation
Report of the Trustees
for the Year Ended 5 April 2025
FINANCIAL REVIEW
Principal Funding Sources and Investment Policy
The main source of funding are dividends from the share portfolio. The share portfolio is managed by a company of professional investment advisors. The investments are in numerous leading shares in order to spread risk. The fixed part of the portfolio is invested in Portmeirion Group PLC shares. It has been noted that investments in tobacco companies and arms manufacturers are not allowed.
Reserves policy
The charity aims to keep approximately £50,000 in the current bank account and that it is intended that dividend income from investments will pay for running costs and salaries.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Ymddiriedolaeth Susan Williams-Ellis Foundation is a charity with Charitable Incorporated Organisation (CIO) status and was founded to maintain and display the work of Susan Williams-Ellis and Clough Williams-Ellis and to promote creativity. The governing document of the charity is the constitution dated 14 August 2014. The registered office of the CIO is located in Wales. The Board of Management consists of four Trustees, one Secretary and one Manager/Curator.
The trustees are responsible for the strategic direction of the charity with the day-to-day running decisions delegated to the curator. The remuneration of key staff is set by the trustees. Every trustee must be appointed for a term of three years by a resolution passed at a meeting of the charity's trustees. On first appointment of new trustees the charity trustees will make available a copy of the constitution and a copy of the latest Trustees Annual Report and statements of accounts. The trustees confirm that they have had regard to the Charity Commission's guidance on public benefit.
The current trustees are the children of the late Susan Williams-Ellis.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Report of the Trustees
for the Year Ended 5 April 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Secretary Ian Roberts
Curator Seren Dolma
Principal office Porth y Castell Minffordd Penrhyndeudraeth Gwynedd LL48 6EN
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1158239
Principal address Plas Brondanw Llanfrothen Penrhyndeudraeth Gwynedd LL48 6SW
Trustees
M Angharad BSc, MA S Cwper R Llywelyn BA C A Cooper-Willis
Independent Examiner
Emyr Rice Roberts BA FCA Emyr Mortimer Cyf 32 Y Maes Caernarfon Gwynedd LL55 2NN
Page 3
Ymddiriedolaeth Susan Williams-Ellis Foundation
Report of the Trustees
for the Year Ended 5 April 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Solicitors
Gamlins LLP 103 High Street Porthmadog Gwynedd LL49 9EY
Investment advisers
Quilter Cheviot 5 St. Paul's Square Liverpool L3 9SJ
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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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 which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. They 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.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Report of the Trustees
for the Year Ended 5 April 2025
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
....................................................... C A Cooper-Willis - Trustee
Page 5
Independent Examiner's Report to the Trustees of Ymddiriedolaeth Susan Williams-Ellis
Foundation
Independent examiner's report to the trustees of Ymddiriedolaeth Susan Williams-Ellis Foundation
I report to the charity trustees on my examination of the accounts of Ymddiriedolaeth Susan Williams-Ellis Foundation (the Trust) for the year ended 5 April 2025.
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 - matters of concern identified
I have completed my examination.
Except for the limitations noted hereunder, our report is unmodified.
During the course of my examination work it became apparent that the charity holds, and updates, additional collections, which have not been recorded on the balance sheet. Conversations with those charged with management concluded that information pertaining to the scale & worth of these assets, including details of any additions and/or disposals in the year, would not be available for the current assignment. The overall effect that these collections might have on the financial statements is therefore uncertain.
I confirm that no other matters have come to my attention that give me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Page 6
Independent Examiner's Report to the Trustees of Ymddiriedolaeth Susan Williams-Ellis Foundation
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Emyr Rice Roberts BA FCA The Institute of Chartered Accountants in England and Wales
Emyr Mortimer Cyf 32 Y Maes Caernarfon Gwynedd LL55 2NN
Date: .............................................
Page 7
Ymddiriedolaeth Susan Williams-Ellis Foundation
Statement of Financial Activities for the Year Ended 5 April 2025
| 5.4.25 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Charitable activities 4 Charitable activities 26,038 - 26,038 Investment income 3 52,767 - 52,767 Total 78,805 - 78,805 EXPENDITURE ON Raising funds 5 15,573 - 15,573 Charitable activities 6 Charitable activities 99,465 - 99,465 Total 115,038 - 115,038 Net gains/(losses) on investments (109,644) - (109,644) NET INCOME/(EXPENDITURE) (145,877) - (145,877) RECONCILIATION OF FUNDS Total funds brought forward 2,299,777 46,050 2,345,827 TOTAL FUNDS CARRIED FORWARD 2,153,900 46,050 2,199,950 |
5.4.24 Total funds £ 14,135 64,059 78,194 14,424 77,665 92,089 127,336 113,441 2,232,386 2,345,827 |
|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 8
Ymddiriedolaeth Susan Williams-Ellis Foundation
Balance Sheet
5 April 2025
| 5.4.25 Unrestricted Restricted Total fund fund funds Notes £ £ £ FIXED ASSETS Tangible assets 11 1,345 - 1,345 Heritage assets 12 - 46,050 46,050 Investments 13 73,108 - 73,108 74,453 46,050 120,503 CURRENT ASSETS Debtors 14 1,619 - 1,619 Investments 152,059,405 - 2,059,405 Cash at bank 27,238 - 27,238 2,088,262 - 2,088,262 CREDITORS Amounts falling due within one year 16 (8,815) - (8,815) NET CURRENT ASSETS 2,079,447 - 2,079,447 TOTAL ASSETS LESS CURRENT LIABILITIES 2,153,900 46,050 2,199,950 NET ASSETS 2,153,900 46,050 2,199,950 |
5.4.24 Total funds £ 1,793 46,050 98,364 146,207 1,257 2,184,864 14,948 2,201,069 (1,449) 2,199,620 2,345,827 2,345,827 |
|---|---|
The notes form part of these financial statements
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Balance Sheet - continued
| 5 April 2025 FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
2,153,900 46,050 2,199,950 |
2,299,777 46,050 2,345,827 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. C A Cooper-Willis - Trustee
The notes form part of these financial statements
Page 10
Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements
for the Year Ended 5 April 2025
1. GENERAL INFORMATION
The charity is registered in England and Wales and is a charitable incorporated organisation. The address of the principal office is Porth y Castell, Minffordd, Penrhyndeudraeth, Gwynedd, LL48 6EN.
2. 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
2. ACCOUNTING POLICIES - continued
Income
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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 particular heading. In particular:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Heritage assets
Heritage assets measured under the cost model are recognised initially recorded at acquisition cost and subsequently stated at cost less any accumulated depreciation and impairment losses.
Heritage assets measured under the revaluation model are recorded at fair value less any accumulated impairment losses.
Where information on the cost or value of an asset is not available and cannot be obtained at a cost which is commensurate with the benefits to users of the financial statements, the asset shall not be recognised in the statement of financial position.
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.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
2. ACCOUNTING POLICIES - continued
Fund accounting
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued
for the Year Ended 5 April 2025
2. ACCOUNTING POLICIES - continued
Financial instruments
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
3. INVESTMENT INCOME
| Investment income | 5.4.25 £ 52,767 |
5.4.24 £ 64,059 |
|---|---|---|
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Ymddiriedolaeth Susan Williams-Ellis Foundation
| Notes to the Financial Statements- continued for the Year Ended 5 April 2025 4. INCOME FROM CHARITABLE ACTIVITIES Activity Sale of services/goods Charitable activities 5. RAISING FUNDS Investment management costs Portfolio management 6. CHARITABLE ACTIVITIES COSTS Charitable activities 7. SUPPORT COSTS Charitable activities |
5.4.25 £ 26,038 5.4.25 £ 15,573 Support Direct costs (see Costs note 7) £ £ 93,984 5,481 Governance Finance costs £ £ 60 5,421 |
5.4.24 £ 14,135 5.4.24 £ 14,424 Totals £ 99,465 Totals £ 5,481 |
|---|---|---|
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued
for the Year Ended 5 April 2025
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
5.4.25 £ 34,931 1,846 714 37,491 |
5.4.24 £ 30,966 - 781 |
|---|---|---|
| 31,747 |
The average monthly number of employees during the year was as follows:
| Average number of employees No employees received emoluments in excess of £60,000. |
5.4.25 2 |
5.4.24 2 |
|---|---|---|
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities Investment income Total EXPENDITURE ON Raising funds |
Unrestricted Restricted Total fund fund funds £ £ £ 14,135 - 14,135 64,059 - 64,059 78,194 - 78,194 14,424 - 14,424 |
|---|---|
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued
for the Year Ended 5 April 2025
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | |
|---|---|---|---|---|
| continued | ||||
| Unrestricted | Restricted | Total |
||
| fund | fund | funds | ||
| £ | £ | £ | ||
| Charitable activities | ||||
| Charitable activities | 77,665 | - | 77,665 | |
| Total | 92,089 | - | 92,089 | |
| Net gains on investments | 127,336 | - | 127,336 | |
| NET INCOME | 113,441 | - | 113,441 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 2,186,336 | 46,050 | 2,232,386 | |
| TOTAL FUNDS CARRIED | ||||
| FORWARD | 2,299,777 | 46,050 | 2,345,827 |
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued
for the Year Ended 5 April 2025
| 11. TANGIBLE FIXED ASSETS COST At 6 April 2024 and 5 April 2025 DEPRECIATION At 6 April 2024 Charge for year At 5 April 2025 NET BOOK VALUE At 5 April 2025 At 5 April 2024 12. HERITAGE ASSETS MARKET VALUE At 6 April 2024 and 5 April 2025 NET BOOK VALUE At 5 April 2025 At 5 April 2024 |
Fixtures and fittings £ 5,345 3,552 448 4,000 1,345 1,793 Total £ 46,050 46,050 46,050 |
|---|---|
The heritage assets held relate to a collection of works of art by Susan Williams-Ellis and are valued at their insured amounts.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued
for the Year Ended 5 April 2025
| 13. FIXED ASSET INVESTMENTS MARKET VALUE At 6 April 2024 Revaluations At 5 April 2025 NET BOOK VALUE At 5 April 2025 At 5 April 2024 There were no investment assets outside the UK. Cost or valuation at 5 April 2025 is represented by: Valuation in 2022 Valuation in 2023 Valuation in 2024 Valuation in 2025 |
Shares in group undertaki £ 98,364 (25,256) 73,108 73,108 98,364 Shares in group undertaki £ 270,279 (103,016) (68,899) (25,256) 73,108 |
|---|---|
All investments shown above are held at valuation.
Financial assets held at fair value
All financial assets are measured at fair value, being the market value of the listed investments as at the year end.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
| 14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 5.4.25 | 5.4.24 | |||
| £ | £ | |||
| Prepayments | 1,619 | 1,257 | ||
| 15. | CURRENT ASSET INVESTMENTS | |||
| 5.4.25 | 5.4.24 | |||
| £ | £ | |||
| Listed investments | 2,059,405 | 2,184,864 | ||
| 16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|||
| 5.4.25 | 5.4.24 | |||
| £ | £ | |||
| Trade creditors | 7,316 | - | ||
| Taxation and social security | - | 22 | ||
| Other creditors | 1,499 | 1,427 | ||
| 8,815 | 1,449 | |||
| 17. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movementAt | ||||
| At 6.4.24 | in funds |
5.4.25 |
||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 2,299,777 | (145,877) | 2,153,900 | |
| Restricted funds | ||||
| Restricted fund | 46,050 | - | 46,050 | |
| TOTAL FUNDS | 2,345,827 | **(145,877) ** | 2,199,950 |
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued
for the Year Ended 5 April 2025
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 78,805 78,805 |
Resources expended £ (115,038) **(115,038) ** |
Gains and losses £ (109,644) **(109,644) ** |
Movement in funds £ (145,877) **(145,877) ** |
|---|---|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Net movementAt At 6.4.23 in funds 5.4.24 £ £ £ 2,186,336 113,441 2,299,777 46,050 - 46,050 2,232,386 113,441 2,345,827 |
|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 78,194 78,194 |
Resources expended £ (92,089) (92,089) |
Gains and losses £ 127,336 127,336 |
Movement in funds £ 113,441 113,441 |
|---|---|---|---|---|
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
17. MOVEMENT IN FUNDS - continued
Unrestricted funds
The general fund is available, at the discretion of the trustees, for use in the furtherance the charity's objectives.
Restricted funds
The heritage assets fund includes artwork donated to the charity at valuation.
Transfers
During the year to the 2025-year end, there were no transfers between the funds (2024: Nil).
18. EMPLOYEE BENEFIT OBLIGATIONS
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £714 (2024: £781).
19. RELATED PARTY DISCLOSURES
2025:
Three of the trustees, R Llywelyn, M Angharad & A Cooper-Willis, are also directors of Portmeirion Ltd. During the year, the charity purchases revenue related computing goods, valued at £2,561, from Portmeirion Ltd.
The Clough Williams Ellis Foundation owns the Brondanw Estate, and as such the charity paid £14,941 in rent, £1,256 in insurance, £3,974 in heating, and£690 for additional signage on the Estate. £7,316 was owed to the Brondanw Estate at the end of the year.
Ian Roberts, the charity's bookkeeper, is also a director of Portmeirion Ltd and is employed therein as the Finance Manager. Mr Roberts received remuneration of £3,600 for the provision of bookkeeping services.
2024:
Three of the trustees, R Llywelyn, M Angharad & A Cooper-Willis, are also directors of Portmeirion Ltd. During the year, the charity purchases revenue related computing goods, valued at £642, from Portmeirion Ltd.
The Clough Williams Ellis Foundation owns the Brondanw Estate, and as such the charity paid £15,079 in rent and £500 for heating.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Notes to the Financial Statements - continued
for the Year Ended 5 April 2025
19. RELATED PARTY DISCLOSURES - continued
Ian Roberts, the charity's bookkeeper, is also a director of Portmeirion Ltd and is employed therein as the Finance Manager. Mr Roberts received remuneration of £3,600 for the provision of bookkeeping services.
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Detailed Statement of Financial Activities for the Year Ended 5 April 2025
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS Investment income Investment income 52,767 - Charitable activities Sale of services/goods 26,038 - Total incoming resources 78,805 - EXPENDITURE Investment management costs Portfolio management 15,573 - Charitable activities Wages 34,931 - Social security 1,846 - Pensions 714 - Other operating leases 14,941 - Rates and water - - Insurance 2,574 - Light and heat 9,712 - Telephone 2,677 - Advertising 767 - Staff expenses 1,716 - Repairs and renewals 1,136 - Direct costs 18,277 - Freelance & support costs 4,245 - Fixtures and fittings 448 - 93,984 - |
5.4.25 Total funds £ 52,767 26,038 78,805 15,573 34,931 1,846 714 14,941 - 2,574 9,712 2,677 767 1,716 1,136 18,277 4,245 448 93,984 |
5.4.24 Total funds £ 64,059 14,135 78,194 14,424 30,966 - 781 15,079 415 1,203 500 2,502 - 2,270 192 18,198 - 598 72,704 |
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Ymddiriedolaeth Susan Williams-Ellis Foundation
Detailed Statement of Financial Activities for the Year Ended 5 April 2025
| Unrestricted Restricted funds funds £ £ Support costs Finance Bank charges 60 - Governance costs Accountancy and legal fees 1,821 - Bookkeeping 3,600 - 5,421 - Total resources expended 115,038 - Net (expenditure)/income before gains and losses (36,233) - Realised recognised gains and losses Realised gains/(losses) on fixed asset investments 39,909 - Net income 3,676 - |
5.4.25 Total funds £ 60 1,821 3,600 5,421 115,038 (36,233) 39,909 3,676 |
5.4.24 Total funds £ 93 1,268 3,600 4,868 92,089 (13,895) 127,336 113,441 |
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This page does not form part of the statutory financial statements
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