**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. Page 2 **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 - 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; - 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. Page 4 **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: 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 3. 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
15**2,059,405**
**-**
**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 Page 9 continued... **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: - 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. - legacy income is recognised when receipt is probable and entitlement is established. Page 11 continued... **Ymddiriedolaeth Susan Williams-Ellis Foundation** ## **Notes to the Financial Statements - continued for the Year Ended 5 April 2025** ## **2. ACCOUNTING POLICIES - continued** ## **Income** - 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. - 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: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - 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. - 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. Page 12 continued... **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. Page 13 continued... **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. Page 14 continued... **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| |---|---|---| Page 15 continued... **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**| |---|---|---| |||| Page 16 continued... **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| |---|---| Page 17 continued... **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| Page 18 continued... **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. Page 19 continued... **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. Page 20 continued... **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**| Page 21 continued... **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| |---|---|---|---|---| Page 22 continued... **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. Page 23 continued... **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. Page 24 **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| |---|---|---| This page does not form part of the statutory financial statements Page 25 **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| |---|---|---| This page does not form part of the statutory financial statements Page 26