Charity registration number- 1161027
Audrey Tyler Trust
Annual Report and Financial Statements
for the Year Ended 31 March 2024

Audrey Tyler Trust
Contents
Trustees, Report
I to3
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to ihe Financial Slatemenls
7t0 12

Audrey Tyler Trust
Trustees, Report
The trustees present the annual report together with the flnancial statements of the charity for the year ended 31
March 2024.
Objectives and activiti¢5
Objecls aiid aipnf
The Charity's objectives and aims are lo promole ihe benefit of the inhabitants of the town of Brecon without
distinclion sex or of political or religious or other opinions by Ihe advancement of education and the provision
of facilities in the interest of social welfare for recrcation and leisure time occupation (with particular r¢fer¢nc¢
to music and dramalic art) with the object of improving
the conditions of life for the said inhabitants.
Public beiiefil
The trustees confirni that they have complied wilh the requirements of section 17 of the Charities Act 201 I to
have due regard lo the public benefii guidance published by Ihe Charity Commission for England and Wales.
Granl maklngpollcief
The Trust aim5 to distribute an amount of £30,000 to £40,000 annually, in a maximum allocaiion of £7,500 each
to individuals* groups OT societies who meet Ihc criteria of the Trusts aims and objectiv¢s.
Organisations interesied in applying need to submit an application to the Trust.
Aehlevements and performanee
During ihe year under review lh¢ chariiable trust made several distributions as follow5.,
Brecon Story - £ 1,000
- Br￿On Jazz- £2,000
- Brecon Town - £2,750
- TRJ Morgan - £1,000
Brecon High School - £5,000
tjrecon Golf Club - £7,000
Brecon Scout Group- £850
Tolal Granls - £19,600
Fininclal review
Prlnclpalfiiiidlng.iources
The principal funding sources are Rental and Investmenl income. The Trusts investment portfolio is currently
managed by Charles Stanley & Co. Limited.
Page I

Audrey Tyler Trust
Trustees, Report
Reference and Administrallve Details
Charity Registration Number.,
161027
Principal Office:
27, Llandennis Ave
Cyncoed
Cardiff
CF23 6JE
Independent Examiner:
HSJ Accountan15 Limited
Severn House
Hazell Drive
Nepwort
NP108FY
Solicitors:
Hugh James
Two Central Square
Cardiff
CFIO IFS
Bankers:
Charles Stanley & Co Ltd
718 Park Plar¢
Cardiff
CF103DP
Trustees and offieers
The tNstee5 and officers serving during the year and since the year end were as follow5.,
Trustees:
Mr A Elston
Mr J Pearn
Structureg governance and management
Nalure ofgovernlng documenl
The Trust is a registered charity, number 1161027, and is constituted under a deed of trust dated l Oth January
1975. The Trnst was ¢stablished on the death of Miss Audrey 'fyler in 2013. The Trust does not a¢tiv¢ly
fundraise and seeks lo continue Ihe charitable work desired by the donor through the careful stewardship of it5
existing resources.
Page 2

Audrey Tyler Trust
Trustee5' Report
Statement of Trustees, Responsibilities
The Iruslees are responsible for preparing the Iruslees, report and ihe financial statements in accordance with the
Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Aceounling Practice) and
applicable law and regulations.
The law applicable to charities requires the truslees to prepare financial statements for each financial year which
giv¢ a true and fair view of ihe state of affairs of Ihe charity and of the incoming resources and application of
resou￿¢3 of the charity for that period. In preparing these financial statements, the Iru5te¢s are required io.,
select suitable accounting policies and ihen apply them consislenily.
observe the methods and principles in the Charities SORP.
make judgements and eslimales that are reasonable and prudent.
state whether applicable aecounling standards have been followed, subject to any material departures
disclosed and explained in the financial statements. and
prepare the financial slalements on ihe goins concern basis unless it is inappropriate to presume that th¢
charity will continue in business.
The tru3t¢es are rcsponsible for keeping proper accounting records thai disclose with reasonable accuracy at any
time the finan¢ial position of the charity and enable them to ensure that the financial statemenls comply with Ihe
Charities Aci 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the
onslitution. The trustees are a150 responsible for safeguarding the assets of ihe eharity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on 5 December 2024 and signed on ils behalf by..
Mr J Pearn
Trustee
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Audrey Tyler Trust
Independent Examiner's Report to the trustees of Audrey Tyler Trust
I report io the trustees on my examination of the accounts of Audrey Tyler Trust for the year ended 31 March
2024.
Responsibilities and basi5 of report
As the charity truslees of Audrey Tyler Trust you are responsible for the preparation of ihe accounts in
accordance with the requirements of the Charities Acl 2011 ('Ihe Act,).
I report in respect of my examinaiion of the Audrey Tyler Trusvs accounts ¢arried out under section 145 of the
201 l A¢1 and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145{5Xb) of the Act.
Independent exY4miner's statement
I have complctcd my examination. I confirrn that no material matters have come to my attention in Connection
with the examination giving me cause to believe that in any material respect:
accounting records were not kepi in respect of Audrey Tyler Trust a5 required by section 130 of the Act- or
2. the accounts do no¢ accord with those records" or
3. the ac¢ounls do not comply with the accounting requirements eoneerning the forni and contenl of a¢¢ounls
set out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the
accoun15 give a 'true and fair view which is not a matter considered as part of an inde￿ndent
examination.
I have no concerns and have come acros5 no other matlers in conDe¢tion with the examination 10 which attention
should be drawn in this report in order to enable a proper underslandins of the accounts to be reached.
Mr Andrew Hill
FCCA ACA DChA BFP
Severn House
Hazell Drive
Nepwort
NPIO 8FY
5 December 2024
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Audrey Tyler Trust
Statement of Financial Activities for the Year Ended 31 March 2024
Unrestrleted
rundx
Total
2024
Note
Income and Endowments from:
Other trading activities
Inveslmenl income
23.760
17.852
23,760
17.852
Total income
41,612
41,612
Expendllure on:
Charitable activities
(40.845)
(40.845)
Total expendilure
GainsAosses on investment assets
(40,845)
27,261
(40,845)
27,261
Net income
28,028
28,028
Nel movement in funds
28,028
28,028
Reconelliation of funds
Total ￿ndS broughi forward
,180,336
1,180,336
Total funds carried forward
12
1,208,364
Unrestricted
fund5
1,208.364
Total
2023
Note
Income and Endowments frorn:
Oiher trading activities
Investment income
28,954
22,113
28,954
22,113
Total income
51,067
51,067
Exptndlture on:
Charitable activities
(39,597)
(39,597)
Tot81 expenditure
Gains.Ilosses on investment assets
(39,597)
{80,295)
(39,597)
(80,295)
Net expenditure
Nel movement in funds
(68,825
(68,825
(68,825)
(68,825)
Reconciliation of funds
Total funds brought forward
,249,161
1,249,161
Total funds carried forward
12
,180,336
1,180,336
All of the charity's activilies derive from continuing operations during the alx)v¢ Iwo periods.
The funds breakdown for 2023 is shown in note 12.
The notes on pages 7 10 12 fonn an integral part of these financial slalem¢nts,
Page 5

Audrey Tyler Trust
{Registration Dumber: 1161027)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assels
Investments
,213,262
,178,248
Current assets
Cash at bank and in hand
10
82
5,087
Credltors: Amounts fAlllng due within one ye*r
4,980
2,999)
Net current (I18bllitiesya￿e1s
(4,898)
2,088
Net assets
1.208,364
1,180,336
Funds of the charily:
Unrestrleted income funds
Unrestricted funds
1,208,364
1,180,336
Total funds
12
1,208,364
1.180,336
The financial statements on pages S to 12 were approved by the trustees, and auihorised for issue on 5
December 2024 and signed on iheir behalf by:
MrJPe
Trustee
The notes on pages 7 to 12 fomi an integral part of these financial statements.
Page 6

Audrey Tyler Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
l Attountlng polieies
Statement of compllance
The financial statements have been prepared in aeeordance with the second edition of the Charities Statement of
Recommended Practice issued in October 2019. the Financial Reporting Standard applicable in ihe United
Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The financial statement5 of the ¢harity, which is a public benefit entity under FRS 102, have been prepared in
accordance with Ihe Charilies SORP (FRS 102) 'Acrounting and Reportingby Charilie5.' Sialement of
Recommended Practice applicable lo charities preparing Iheir accounts in accordance with Ihe Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 'The Financial Reporting Siandard applicable in Ihe UK and Republic of
Ireland, and the Charilies Act 2011, The financial statements have been prepared under ihe hislorical cost
onvenlion, with the exception of investmenls which are included at market value, as modified by the
revaluation of certain assets.
Exemption from preparlng a cash flow slat¢m¢nt
The charity Opted to early adopi Bulletin I published on 2 February 2016 and have therefore not included a cash
flow statement in these financial statements.
Going eoneern
The trusl¢es consider that ihere are no material uncertainties about the charity's ability to continue as a going
¢on¢ern.
Income and endowments
All income is recognised in the Statement of Firtancial Activities once the charity has eniiilement to the funds, it
is probable that ihe inrome will be received and the amount can be measured reliably
liiveslmeuf Income
Interesl on funds held on deposil is includ¢d when receivable and the amount can be measured reliably by the
charity. this is nornially upon nolificalion of the int¢rest paid or payable by the bank.
Expenditure
Liabilities are recognised as expendtture as soon as there is a legal or construclive obligation commilling the
charity 10 ihal. expenditure, it is probable thal a Iransfer of economic benefits will be required in selllemenl and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where cosis cannol be directly
atlribuled to particular headings Ih¢y hav¢ b¢¢n allocated (o a¢tivilies on a basis consistent wilh th¢ us¢ of
resources.
Granl Lypeiidiiur
Grants ofT¢r¢d subj¢rl lo ¢onditions which have not been mel at the year end date are noted as a commitment
but nol accrued as expendilure.
Page 7

Audrey Tyler Trust
Notes to the Finaneial Statements for the Year Ended 31 March 2024
Governance costs
These include the costs attribuiable to the charity's complianc¢ with Constilutional and statutory requirements.
including audit, strategic management and trustees's meetings and reimbursed expenses,
Taxation
The charity is exempt from tax on 115 charitable activities.
Investment propertles
Investment property is carried at fair value, derived from ihe current market prices for Comparable real estate
deterniined annually by external valuers. The valuers use observable markei prices. adjusted if necessary for any
difference in the nature, location or condition of the 5p¢¢ific asset. Changes in fair value are recognised in profit
or loss.
Fixed 8$set Investments
Fixed asset inveslmenls, other than programme related investments, are included at market value at the balance
sheet date. Realised gains and losses on investments ar¢ calculated as the difference between sales proceeds and
their market value al th¢ start of the year. or their subsequent cosl, and are charged or credited to the Statement
of Financial Aclivities in the period of disposal.
Unrealised gains and losses represeni ihe movement in markei values during the year and are credited or
Charged lo the Sialement of Financial Aclivilies based on the market value at the year end.
Cash and cash equlvalenls
Cash and cash equivalents comprise cash on hand and call deposits, and oiher short-temi highly liquid
investmenls thai are readily convertible 10 a known amount of cash and are subject to an insignificant risk of
change in value.
Fund Structure
Unrestricted funds Can be used in accordance with the ¢harilable objeclive5 at the discretion of the trustees.
Restricted funds can only be used for particular re$tricled purposes within the obJ￿ts of th¢ ¢harity. Reslriclions
arise when specified by Ihe donor or when funds are raised for particular restricted purpos¢5.
Further explanation of the nature and purpose of each fund is included in the notes to th¢
financial statements
2 Incom¢ from other trading aetiyllles
Unrestrlcted
funds
General
Total
funds
Total
2023
Property rental income
23,760
23,760
28,954
23.760
23,760
28.954
Page 8

Audrry Tyler Trust
Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024
3 Investment income
Unrestricted
funds
General
Total
2024
Total
2023
Income from dividend5'
Dividends receivable from other listed investments
17,852
17.852
22.113
4 Expenditure on chgrltable aetivities
Unrestricted
funds
General
Total
2024
Total
2023
Note
Charitabl acliviiies
Grant funding of activities
Governance cosls
10,863
19.600
10,382
10,863
19,6(K)
10,382
9,808
20,730
9,059
40,845
40,845
39,597
S Analysis of governance gnd support Costs
Governance costs
Unre5tri¢ted
funds
General
Total
2024
Tolal
2023
Independenl examiner fees
Examination of the financial slalements
Trustees remuneration and expenses
Legal fees
1,980
1,742
6,660
1,980
1,742
6,660
3.000
292
5,767
10,382
10,382
9,059
6 Trustee5 remuneration and expenses
During the year the charity made the following tran￿¢[lOnS with Iruste¢s'.
Mr A Elslon
£1,742 (2023: £292) of expenses were reimbursed io Mr A Elston during the year.
No ITusl¢e5, nor any persons connected with them, have received any remuneralion from ihe charity during the
year.
No Irustees have received any other benefits from the charity during the year.
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Audrey Tyler Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
7 Independent examiner's remuneratlon
2024
2023
Examination of th¢ financial statements
1,980
3,000
8 Taxatlon
The charity is a registered charity and is therefore exempt from taxalion.
9 Flxed 05S¢t investments
2024
2023
Investment properties
Other investments
580,001
633,261
,213,262
580,001
598,247
1,178,248
Investm¢nt propertles
Investment
propertleg
Cost or Valuatlon
At l April 2023
580,001
Provision
Al 31 March 2024
Net book value
At 31 March 2024
580.001
At 31 March 2023
There has been no valuation of inv¢stm¢nt property by an independent valuer.
580.001
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Audrey Tyler Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Other investments
Listed
inveslrn¢nts
Unlisted
investments
Total
Cost or Valuation
At l April 2023
Revaluation
Addition5
Disposals
559,170
27,261
76,956
(47,371)
38,077
597,247
27.261
65,224
142,180
(86,056) (133,427)
At 31 March 2024
616,016
17,245
633.261
Net book value
Al 31 March 2024
616,016
17,245
633,261
Al 31 March 2023
559,170
38.077
597,247
10 Cash and cash equivalents
2024
2023
Cash at bank
82
5,087
Creditors: amounts fglling due wlthln one year
2024
2023
Accruals
4,980
2,999
12 Funds
Other
recognised
gainsl(losses)
Bal*nee at
31 March
2024
Balanee at I
April 2023
Incoming
resource5
Resourcej
expended
Unrestricted funds
General
,180,336
41.612
(40,845)
27,261
1,208.364
Olher
recognised
gainsl(losses)
Balance al
31 March
2023
Bslanee al I
Aprll 2022
Incoming
resourcvs
Resoureex
expended
Unrestricted fund5
General
1.249,161
51,067
(39,597)
(80.295)
1,180,336
Pagell

Audrey Tyler Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
13 An8lysi$ of nel gssets between funds
Unrestricted
funds
General
Total funds at
31 March
2024
Fixed asset investments
Current assels
Current liabilities
,213,262
82
(4,980
.213,262
82
(4,980)
Total net assels
1.208,364
1,208,364
Unrestrieted
funds
General
Total funds at
31 March
2023
Fixed asset investments
Current assets
Current liabilities
,178,248
5,087
2,999
1,178,248
5,087
2,999
Total assets
,180,336
,180,336
Page 12

Audrey Tyler Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
Total
2024
Total
2023
Ollier Iradliig acllvllies
Rental income
23,760
28,954
23,760
28,954
Invesimeiii Ineopne
Income from lisied inves¢ments
17.852
22,113
17,852
22.113
Cliarilable acllvllles
Grants payable - individuals
Insurance
Repairs and maintenance
Management chargLbs payable
Advertising
Miscellaneous expenses
Accounlancy fee5
Legal and professional fees
(19,600)
(621)
(1.143)
(9,099)
(20,730)
(9,218)
(590)
(292)
(3,000)
(5,767)
(1,742)
(1,980)
(6,660
(40,845)
39,597
This page does not fomi part of the siaiutory financial statemenls.
Page 13