Charity registration number.. 1161027 AUDREY TYLER TRUST TRUSTEES, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 HSJ Accountants Ltd Sevem House Hazell Drive Newport NPIO 8FY Audrey Tyler Trust Contents Page Trustees, Report Independent Examiner's Report Statement of Financial Activities Statement of Financial Position Notes to the Financial Ststements 7-11 The following pages do not fomi part of the statutory accounts= Detailed Statement of Financial Artivities 12 Audrey Tyler Trust Trustees, Report For The Year Ended 31 March 2025 The trustees present their report and the financial statements for the year ended 31 March 2025. Objective5 and Activities Aims and Objectives The Charity's objectives and aims a￿ to promote the benefit of the inhabitants of the town of Brecon without distinction sex or of political or religious or other opinions by the advancement of education and the provision of facilities in the interest of social welfare for recreation and leisure tirne occupation (with particular reference to music and dramatic art) with the object of improving the conditions of life for the said inhabitants. Public Benefit The trustees confimi that they have complied with the requ1￿ments of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit. Grant making policies The Trust aims to distribute an amount of £30,000 to £40,000 ar)nually, in a maximum allocation of £7,500 each to individuals, groups or societies who meet the criteria of the Trusts aims and objettives. Organisations interested in applying need to submit an application to the Trust. Achievements and Performance Main Achievements The grants distributed by the charity in the (￿r￿nt and p￿vIOuS year a￿ detsiled in note 6 to the financial ststements. Financial Review Principal funding sources The principal funding sources are Rental and Investment income. The Trusts investment portfolio is currently managed by Charles Stsnley & Co. Limited. Structure, Governance and Management Nature of governing document The Trust is a registered charity, number 1161027, and is constituted under a deed of trust dated 10th January 1975. The Trust was established on the death of Miss Audrey Tyler in 2013. The Trust does not actively fundraise and seeks to continue the charitsble work desired by the donor through the Ca￿ful stewardship of its existing ￿SourCes. Page I Audrey Tyler Trust Trustees, Report (continued) For The Year Ended 31 March 2025 Reference and Administrative Detsils Trustees Mr J Pearn Mr A Elston Charity Number 1161027 Principal Address 27, LLandennis Ave Cyncoed Cardiff CF23 6JE Independent Examiner Andrew Hill FCCA ACA DChA BFP HSJ Accountants Ltd Severn House Hazell Drive Newport NPIO 8FY Bankers Chades Stanley & Co Ltd 718 Park Place Cardiff Solicitors Hugh James Two Central Square Cardiff Page 2 Audrey Tyler Trust Trustees, Report (continued) For The Year Ended 31 March 2025 statement of Trustees. Responsibilities The trustees are responsible for preparing the Trustees, Report and the financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial ststements the trustees are required to- select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charity SORP: make judgments and accounting estitnates that are reasonable and prudent,. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytirne the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for tsking wsonable steps for the prevention and detection of fraud and other irregularities. The truste￿ are responsible for the maintenance and integrity of the corporzte and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The trustees. report was approved by the board of trustees and signed on its behalf by: Mr J Peam Trustee 4 December 2025 Page 3 Audrey Tyler Trust Independent Examiner's Report to the Trustees of Audrey Tyler Trust For The Year Ended 31 March 2025 I report to the trustees on my examination of the accounts of Audrey Tyler Trust (the Trust} for the year ended 31 March 2025. Responsibilities and Basis of Report As the charity trustees of the Trust you are responsible for the prepardtion of the accounts in accordance with the requirements of the Charities Act 2011 (-the Actl. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145{5)Ib) of the Act. Independent Examiner's Statement I have completed my examination. I confirm that no material matters have come to my attention in connertion with the examination giving me cause to believe that in any wnaterial respect- l. accounting records were not kept in respert of the Trust as required by section 130 of the Art; or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements conceming the fonn and contents of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Andrew Hill FCCA ACA DChA BFP 31 December 2025 Severn House Hazell Drive Newport NPIO 8FY Page 4 Audrey Tyler Trust Statement of Financial Activities For The Year Ended 31 March 2025 2025 2024 Unrestricted Unrestrirted funds funds Notes INCOME AND ENDOWMENTS FROM: Other trading activities Investments 46,558 14,035 23,760 17,852 60,593 41,612 EXPENDITURE ON: Raising fund5 Charitable activities.. Grant funding of activities (25,360) (21,245) (39,078) (19,600) (64,438) 140,845) NET {EXPENDITURE}/INCOME BEFORE INVESTMENT (LOSSES)/GAINS Net gains on investments {3,845) 4,083 767 27,261 NET {EXPENDThURE)/INCOME 238 28,028 NET MOVEMENT IN FUNDS 238 28,028 RECONCILIATION OF FUNDS: Total funds brought fO￿ard 1,208,364 1,180,336 TOTAL FUNDS CARRIED FORWARD 12 1,208,602 1,208,364 The notes on pages 7 to 11 form part of these financial statements. Page 5 Audrey Tyler Trust Statement of Financial Position As At 31 March 2025 2025 2024 Unrestricted funds Total funds Notes FIXED ASSETS Investment Properties Investments 580,001 626,669 580,001 633,261 io 1,206,670 1,213,262 CURRENT ASSETS Cash at bank and in hand 5,425 82 5,425 82 Creditors: Amounts Falling Due Within One Year li (3,493) (4,980) NET CURRENT ASSETS (LIABILITIES) 1,932 14,898) TOTAL ASSETS LESS CURRENT LIABILITIES 1,208,602 1,208,364 NET ASSETS 1,208,602 1,208,364 FUNDS OF THE CHARITY Unrestricted Funds 1,208,602 1,208,364 TOTAL FUNDS 12 1,208,602 1,208,364 On behalf of the board Mr J Peam Trustee 4 December 2025 The notes on pages 7 to 11 form part of these financial statements. Page 6 Audrey Tyler Trust Notes to the Financial Statements For The Year Ended 31 March 2025 i. ststement of Compliance The financial statements 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) (effettive l January 2019)" Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Art 2011. 2. Accounting Policies 2. 1. Basis of Preparation of Financial Ststements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) 'Accounting and Reportingby Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Art 2011. The financial statements have been prepared under the historical cost convention, with the exception of investtnents which are included at market value, as modified by the revaluation of certain assets. 2.2. Going Concern Disclosure The trustees have identified material uncertsinties ￿lated to events or conditions that may cast significant doubt about the charity's ability to continue as a going concern, however. the going concem basis remains appropriate. This 15 due to the fact that post year end the charity has converted to a Charitable Incorporated Organisation (CIO), named AUd￿Y Tyler Foundation (Charity Number= 1214777). This being the case, whilst the current Trust will cease to operate, all funds and activities will transfer to the new CIO ensuring continuity of the charity and its. objectives. 2.3. Incoming Resources All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably Investment Income Interest on funds held on deposit is included when receivable and the amount can be measured ￿liablY by the charity- this is normally upon notification of the interest paid or payable by the bank. 2.4. Resources Expended Liabilities are recognised as expenditure as sooTr as there 15 a legal or constructive obligation corntnitting 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 ￿lated to the category. whe￿ costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grant Expenditure Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirernents, including audit, strategic management and tnjstees's meetings and reimbursed expenses. 2.5. Investment Properties All investment pmperties are carried at fair value determined annually and derived fmm the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the ststement of financial attivities. Page 7 Audrey Tyler Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 2.6. Investments Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calojlated as the difference between sales proceeds and their market value at the start of the year, or their subsequent Cost, and a￿ charged or ¢￿dited to the Statement of Financial Artivities in the period of disposal. Unrealised gains and losses represent the movemer)t in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. 2.7. Cash and Cash Equivalents Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. 2.8. Taxation The charity is exempt from tax as all its income is charitable and applied for charitable purposes. 2.9. Fund strurture Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrittions arise when specified by the donor or when funds are raised for particular restritted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements 2. 10. Exemption from preparing a cash flow statement The charity opted to earfy adopt Bulletin I published on 2 February 2016 and therefore not included a cash flow statement in these financial ststements 3. Income from Other Trading Activities 2025 2024 Unrestricted Unrestricted funds funds Property rental income 46,558 23,760 4. Investment Income 2025 2024 Unrestricted Unrestricted funds funds Interest from investments 14,035 17,852 Page 8 Audrey Tyler Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 5. Analysis of Expenditure 2025 Grant funding of Support activities costs (see note 6) (see note 7) Total Raising funds Grant funding of artivities 25,360 25,360 39,078 39,078 39,078 25,360 64,438 2024 Grant funding of Support activities costs (see note 6) (see note 7) Totsl Raising funds Grant funding of artivities 21,245 21,245 19,600 19,600 19,600 21,245 40,845 6. Grants Payable 2025 2024 Grants to Grants to Institutions Institutions Grant funding of artivities 39,078 19,600 Grants paid to institutlOn5. includeil above. are as follows.. 2025 2024 Brecon Story Brecon jazz 1,000 2,000 2,750 1,000 5,000 7,000 850 Brecon Town Morgan Brecon High School Brecon Golf Club Brecon Scout Group Brecon Athletic Club Brecon Town Band Grant 7,500 4,400 1,000 2,000 1,900 2,000 4,000 2,528 7,500 Cantorian Brecon Wornen's History Group 8recon Buzz CIO Brecon Pride Friends of St Mary's Church Brecon Mountsin Rescue Brecon Young Farmers ..CONTINUED Page 9 Audrey Tyler Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 Brecon Town Council 1,000 5,000 250 Duke of Edinburgh Brecon Festival Ballet 39,078 19,600 7. Support Costs 2025 Raising funds p￿mISeS expenses General administration Governance costs 6,650 10,526 8,184 25,360 2024 Raising funds p￿mISeS expenses General administration Governance costs 1,142 9,721 10,382 21,245 Independent Examiner's Remuneration 2025 2024 Independent examination of the financial statements 1,577 1,980 9. Investment Property 2025 Fair Value As at l April 2024 and 31 March 2025 580,001 10. Investments Cash & Cash Equivalents Listed Totsl Cost or Valuation As at l April 2024 Additions Disposals Revaluations 17,245 90,178 (103,287) 616,016 91,408 (88,974) 4,083 633,261 181,586 (192,261) 4,083 As at 31 March 2025 4,136 622,533 626,669 .CONTINUED Page 10 Audrey Tyler Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 Provision at l April 2024 As at 31 March 2025 Net Book Value As at 31 March 2025 4.136 622,533 626,669 As at l April 2024 17,245 616,016 633,261 11. Creditors: Amounts Falling Due Within One Year 2025 2024 Accruals and deferred incorne 3,493 4,980 12. Movement in Funds As at l April 2024 Asat31 Expenditure March 2025 Income Unrestricted funds General: General unrestrirted fund 1,208.364 60,593 (60,355) 1,208,602 Total funds 1,208,364 60,593 (60,355) 1,208,602 As at l April 2023 Asat31 Expenditure March 2024 Income Unrestricted funds General: General unrestricted fund 1,180.336 41,612 (13,584) 1,208,364 Total funds 1,180,336 41,612 (13,584) 1,208,364 13. Transactions with Trustees None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year. During the year the expenses reimbursed to the trnstees or paid directly to third parties were as follows: 2025 2024 Other Expenses 1,514 1,742 Number of trustees reimbursed for expenses during the year was l (2024: 1) 14. Related Party Disclosures There have been no related party transactions in the reporting period that require disclosure, except for those disclosed in the Transactions with Trustees note. Page 11 Audrey Tyler Trust Detailed Statement of Financial Activities For The Year Ended 31 March 2025 2025 2024 Total funds Total funds INCOME AND ENDOWMENTS FROM: other trading activities Property rentsl income 46,558 23,760 46,558 23,760 Investments Income from listed investments 14,035 17,852 14,035 17,852 60,593 41,612 EXPENDITURE ON: Raising funds Repairs and maintenance Computer software, consumables and maintenance Insurance (6,650) 1500) {577) (9,449) (1,514) (1,577) (5,093) (1,142) {622) 19,099) 11,742) 11,980) 16,660) Management fees Trustees. expenses Independent examiner's fees Legal fees (25,360) (21,245) Charitable Activities: Grant funding of activities Grants to institutions (39,078) (19,600) (39,078) 119,600) (64,438) 140,845) NET (EXPENDITURE)/INCOME BEFORE INVESTMENT (LOSSES)/GAINS Net gains on investments 13,845) 767 Fair value surplus on revaluation of investments 4,083 27,261 4,083 27,261 NET INCOME 238 28,028 Page 12 Virtual Cabinet Portal Digital Signatures Digital Signature Verification You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the following secure web page: hltps'.Ilwww.virtualcabinetportal.comNerifySignedDocument Signature Dates and Times All dates and limes shown in the signatures below are expressed in CLwJrdinated Universal Time {UTCI. which is generally equivalent to GMT. You can find out more about UTC at the following web page= http.'/lwww.virtualcabinetportal.coM￿hatlSuTC Signature 1 Signed by James Peam using authentication code PjUzbzlqZE9RMF41 at IP address 104.30.164.237, on 2025112104 15:11:39 Z. James Pearn's e-mail address is: James.Peam@hughjames.com.