Charlty number: 1165883
YMDDIRIEDOLAETH CLOUGH WILLIAMS-ELLIS FOUNDATION
TRUSTEE8' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
WR
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YMDDIRIEDOLAETH CLOUGH WILLIAMS4LU8 FOUNDATION
CONTENTS
Page
R•f•rence and admlnlstratlvg dotsll$ ofthe Charlty. Sts Trusto08 and •dvl80rn
TNst•es' roport
Indep•ndent audltorn. report on th• Ilnanclal •tatsments
Conso11dat￿ 8tsl•m•nt of flnanclal actlvltt•$
9-12
13
Con¥olldated balanc• ¥h••t
14
Charlty balanc• sheet
¢onsolldat•d 8tatemont ot cash flow$
15
16
Notes to tho flnan¢lal $tst•m•nts
17-35

YMDDIRIEDOLAETH CLOUGH ￿LLIAmS￿LLIs FOUNDATION
REFERENCE AND ADMIN18TRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADvisefts
FOR THE YEAR ENDED 5 APRIL 2025
Trustees
J C Wallace
M Angharad
D Iwan
I Huw8
R Garden
S Dolma
Jones
D Wynn&Flnch
Charlty r•gl$t•r•d numb•r
1165883
Prlnclpal offl
Unil 10. Sl Giles Business Park, Pool Ro8d, Newtown, P¢)wp. SY16 3AJ
Inve$tm•nt p¢yrtfollo manag•rs
Evelyn P8rtnern , 45 Gresham Strèèt. London. EC2V 78G
Ind•p•ndent audltors
WR Pathers, Belmont Housa, Shrewsbury 8u5in8ss Park. Shrewsbury, Shropshirg, SY2 6LG
Bankor¥
AMC Bank, AMC House. Chantry Street. Andover. Hampshirg. SP10 1DE
HS8C. 62 High Street, Porthmadog, Gwynedd, LL49 9LN
Lloyds 8anking Group, 28 Regent Sireel. Wroxham, cl￿d, LL11 1SE
Sollcltors
Fsrrèr & Co. 66 Lincolns Inn Flelds. London, WC2 3LH,
Excello Law, One City Place. Queens Road. Chgster, CHI 38a
Managlng Agents
8alfours LLP, New Windsor House. Oxon Business Park, Shrewsbury, Shrop8hire, SY3 5HJ
Page 1

YMDDIRIEDOLAETH CLOUGH WILLIAMS-ELLIS FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The Trustees present their annual report together with the 8udiled financial slalemen15 of the Charity for the year
6 April 2024 10 5 April 2025.
The Charity is a Charitable Incorporated Organisalion ICIOI and conslilut8d in accordance wlh Part 51 of the
Charities Act 2011, the Charitable Incorporated Organisations (Generall Regulations 2012. the Charities Act
2011 (Charitable Incorporated Organisationsl IConslilulions} Regulations 2012 and the Charitable Incorporated
Organisations Ilnsolvency and Dissolution) Regulations 2012.
Oblectlves and actlvltles
a. Pollcles and objgclivas
The objects of the Charitable Incorporated Organisation ICIOI are as folJows-.
1. To contribute towards or for the benefit OT furtherance of such charitsbl8 institutions or charitable purpos8s in
such manner and lif more than one) in such shares as the Trustees shall in their absolute discration from time to
lime datarmine and in particular bul wilhoul prejudice to the generality ol the for8going lo or towards or for all or
any of the charitable purposes set out in Clause 2 below.
2. In North Wa￿s, and especially in Snowdonia and Gwynedd Inclu¢Jing in particular the Portmgirion peninsula
al Minfford Penrhyndeudraelh and the Brondanw Parc and Croesor Esiate at Llanfrolhen Gwyngdd (Areal, for
the benefit of the public generally and especially the inhabilanls of the Area..
2.1 to promote the preservation of lands of beauty or historic, ecological or olhei scientific interest and
generally lo protect preserve and improve the natural aspect. character, environment. biodiversity and amenities
of the Area-,
2.2 to promote responsible public access to the countrysidè, th8 provision of routes and ways thgrefore and the
pres8tvalion of footpaths, commons and waste lands.,
2.3 to promote the preservation and rghabililalion of gardens and designed lanéscapes which are of national,
historic or artistic intsresl and public access lo and 8njoymenl of such gardens and landscapes..
2.4 to promote the preservation and resloration of buildings which arg of national, historic, archileclural or
art15tic interest and public access to and enjoyment of such buildings and lo augment the amenities of such
buildings and their built and natural surfoundings.,
2.5 to promote th& conservation of the rural landscape (including the preservation and restoration of stiuclures
and sites which form part of that landscape and are of historic 8rchile¢tural or artistic interest or amenity value),
the conseNation of flora and fauna, sustsinable m8thods of agriculture, forestry and Dther ènterprises which
support such consetvation, and research into the same and the publication of the useful results.. and
2.6 to promote study and education particularty In fields of relevance lo the Area such as local history, Welsh
culture, ecology and Ihtr geological, biological and kindred sci8ncos and research into the same and the
publication of the useful results.
In selling objeclivtrs and planning for aclivib'es, the Trustees have given due consideration to general guidance
publishèd by the Charity Comrnission relating lo public benefit, including the guidance 'Public bonefit.. running a
charity IP821'.
Page 2

YMDDIRIEDOLAETH CLOUGH WILLIAMS*LLIS FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Objectlves and actlvities Icontinuod}
b. Strat•gios lor achlèvlng obJ•¢tlvos
The Charty achleves ils objectNe$ principally through direct preserv8tlon and conservaUon works on its Oslales
in North Wales. Its activities include=
Protecting and preserving the natural aspect and character of the land and rural landscape.,
Maintsining public roule5 and foolpalhs for the benefit of member5 of the public interested in hiking, climbing
and generally enjoying the outdoors.,
Conserving natural woodlands. streams and wilderness and protecting their ecology and the environment for
enjoyment by the public, including future generations.,
Prolecling, maintaining and managing the Grade 1 listed garden al Plas Brondanw, Llanfrothen, keeping il
open lo the public and developing associated public 8menilies',
PreseNing and maintaining buildings on the Charity's estates including houses and agrictjllural stmdures of
historic or architectural interest which contribute lo the character and beauty of the countryside.,
Protecting and maintaining (through a lanancy contract) th8 Italianale village of Portmeirion in Gwynedd
including its listed buildings and gardens for enjoymgnl by the public..
From ts'me lo tlme maklng donations for chaTitable purposes and lo other charftles le.g. Campaign for the
Protection of Rural Wales ICPRWI. local village school in Garreg, Llanfrothen, funding for study bursaries,
contribution lo local community councill.. and
From lime lo tsme assisting with funding lor study and research into matters of ￿leVanCe lo the area including
local history, ecology and environment.
The Charity also advances its objects through ils letting policies for agricultural land and houses which aim to..
Promote sustainable agriculluTe, forestry and allied aclivilies.,
Safeguard the buildings by keeping them occupied and in good r9pair',
Se8k t8nants k88n to make a contribution to the community and wlh skills gnabling them lo support the
Charity's aims in the area.,
Relain people lincluding young people) in the area.. and
Maintain the linguistsc pattern.
The Charity offers a private Eslale Rent Rebate Scheme lo those who are in employment and either just fail io
qualify for governm¢nt housing benefit. or do just qualify bul al such a low level that the amount received 15 of
little help. This is administered by the Local Authortty and the Charivs Managing Agents.
Achievements and perforniance
a. Koy perfomiance Indlcators
The Charity considers the followng lo b8 Ils kay m8asuros of p8rfomiance'.
Financial
Income generation from investment properties and share portfolio
Income generation from trading activities
Managem&nl of cash and overheads
Nel movement in funds
Non-Financial
R8siclents'al and fam occupancy
Fuifilmenl of charitable objectives
Page 3

YMDDIRIEDOLAETH CLOUGH WILLIAMSELLIS FOUNDATION
TRUSTEES. REPORT ICONTINUED}
FOR THE YEAR ENDED S APRIL 2025
Achlevements and perfoman¢e Icontlnuod}
b. Roview of actlvltles
In meellng ils public benefit requirements, the Charity has continued to maintain and improve ils prope￿eS and
public amenities within the Estatg during the year. Examples ol the type of work undertaken are..
. Refurbishment of Pendomen lo include new wndows, new bathroom, wiring and r9-de￿rat10n
. Re-pointing of Parc Ne￿dd
Commencement of re-roofing Plas Brondanw Bams
Continuation of numerous works al Parc, lo in¢lude pointing. inlemal re-pla51ering, substantial external
groundworks and wiring. New hardwood windows.
Clearance of undergrowth and brarnble in Pla5 Brondanw outer garden
Significant expenditure incurred on dearing storm blown trees
Substantial repairs at Tan y Bryn
Repl8¢emenl windows at 1 Danw Deg
Extemal re4Jecoration of various properties
The Tmslegs have complied with the duty in section 17 of the Charities Act 2011 to have regard to revised
public benefit guidance published by the Charity Commission.
¢. Inv•stm•nt policy and performane•
Investments are included al their market value at 5 April 2025. The investment powers ol the Trustees are
limited lo those available under Charity legislation.
Th8 Charitls properties are ltst at rènts sèt by Professional Agents based on open market rents, bul adjusted to
take into account the Trustees. charitable objectives and the strategies and activities for achiaving these
objectives as set out abDVe.
The Charity retains a professional investment manager, Evelyn Partngrs, lo manage ils share portfolio in
accordance with the Charity's investment policy.
Pagg 4

YMDDIRIEDOLAETH CLOUGH WILLIAMS&LLIS FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED S APRIL 2025
Financial review
a. Golng ¢on¢orn
Notwithstanding a challenging operating 8nvironmgnt, after making approprialo enquiries, the Trusteos have a
reasonable expectation that thg Charity and Group has adequate resources to continue in operational gxislence
for the foreseeablg futuie. For this reason they continue lo adopt the going concem basi5 in preparing the
financial slalemenls. Further details regarding the adoption of the going concern basis can be found in the
Accounting Policies.
During the year th8 Trustees drew down £150.000 from the share portfolio lo aid cash flow. Howevef, al their
AGM in July 2025 their nominated brokers Evelyn and Partners advised that the combined value of the Trustegs,
share portfolio remained at £3m. The value of the portfolio 5UPPOrts the going concem position.
b. Reservo5 pollcy
The Trustees. policy is that year on year the routine maintenancg and other 8xpenses of the Charity, together
with loan repayments, should be borne out of income. The Trustees, objective is that the Unrestricted Income
fund shoijld b6 maintained at a positive balance, bul with no set minimum. Al 5 April 2025 the total free Teserve5
of the Charity was a deficit of £509,923 {2024'. deficit of £443.2321. The reserves policy and curfenl free reserves
position is sel against the context of managing the reluin on the investment portfolio. The Trustees have taken
the informed decision to retaln the current fundinglliqfjjidity balance.
Stru¢tur•, govgrnance and management
a. Constitution
The Charity is register8d as a charitable Company limtted by guarantee and has a registered charlty numb&r
1165883. 11 was sel up and is conslilul8d under a Trust Deed dated 4 March 2016 and commencad operations
on 13 Apri12016.
b. M•thod$ of app¢lntment or election of Trustees
The management of the Charty is the responsibility of the Trustees who are elected and Cowopled under the
terrns of the Charitls Constitution.
c. Poll¢l•$ adopted for thè induction and training of Trusteos
Each Trustee is given a copy of the Charity's Constitution, a copy of Tha Diractory of Social Change publication
'The Effective Tiustee" and the latest Annual Report. All new Trustees are also given a lour of the Charitys
estsle and briefed by thè chair of the Trustees. Advantage is also taken of the specific training provided by th8
CharTly's Auditors.
Page 5

YMDDIRIEDOLAETH CLOUGH WILLIAMSELLIS FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
Structur01 govemancè and management Icontlnuodl
d. Organlsational structure and doclsion making
The Charity holds a minimum of three Trustge meetings a year to overseg the management of the Charity. Th8
Charity has three sulF¢ommittees of the Board of Trustees, as follows..
A Finance Sub<ommittee which oversees the Charivs finances including the investm8nl portfolio managed by
Evelyn Partneis. The Trustees on this sutKommittee are..
M Jones
J C Wallace
D Wynne-Finch Ichairmanl
A Garden Sub-committee which oversees the rnanagement of the Grdde I listed garden al Plas Brondanw,
Gwynadd. The Trustees on this sub-committee are..
M Angharad
S Dolma
R Garden
J C Wallace
A Communications Sub-commiltee which aids and guides publicity and communications with the outside worfd
on behalf of the Foundation. The Trustees on this sub-ctsmmittee are..
R Garden
S Dolma
M Jones
The day to day running of the Charity is delegated lo the Managing Agents. Messrs Balfours LLP who are in
gular contact with the chair of the Trustees and other Trustees as appropriate.
o. Relalgd party relatlonshlps
A lenanl of the Charity, Portmeirion Limited, has certain Directors who ar8 also Trustees of the Charfly. The
Charills dealings with Portmeirion Limited are on an am's length basis. Another tenant of the Charity,
Ymddiriedolaelh Susan Williams-Ellis Foundation, has a common Trustee with the Charity. A summary of the
related party transactions is set out in note 26 to th8 financial ststemenls.
f. Rl8k managgm8nt
The Trustees have assessed the major risks lo which the Group and the Charity are exposed, in particular those
related lo th8 operations and fin8n¢es of the Group and the Charty, and are satisfied that systems and
procedures are in place to mitigate exposure lo the major risks. A risk Matrix is consider8d by the Trustees al
their AGM each year.
The major risks lo the organisation arg considered lo be as follows..
Deterioration of charitable buildings. Our Land Agents oversee a programme of maintenance and repair.,
Reduction in tenancy occupations leading lo a reduction in rental in¢ome which supports the Chariws
activities. Our Land A9enls manage our investment propety Portfolio. ensuring tenants are appropriately ¢atered
for and properties maintsined and upgraded to meet prevailing stsndards.,
Fall in capital value of and income from Sha￿ portfolio. Our investment managers ensure the share portfolio is
diversified and actively managed to limit overall risk,. and
Reduction in public benefit due to loss of public routes and footpaths and deterioration of natural woodlands
and streams. Our Land Agents overseè the prgservalion and maintenance of public paths and the woodlands
and streams.
Page 6

YMDDIRIEDOLAETH CLOUGH WILLIAMS-ELLIS FOUNDATION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 5 APRIL 2025
Plans for future p•riods
a. Futuro dovolopments
In maeling ils public benefit requir8m8nts, th8 Charity has continued lo maintain and Smprove the proparbes
within the Estste for the future. Al present the key developments for the future are..
Refurbishment of Garreg Fawr. if funds allow
Completion of repairs lo Parc
Drainage repairs al mo6￿￿ Banc
New w*ndows al The Lodge
Continued external re-de¢oralion of vanous properties
Rebuilding building al Garreg Wen following storm damage
Corrmence negotiations for a new lease of the Blaen Cwm hydro scheme when the current lease ends in
2026
Trustees. respon$lbllltlo$ statement
The Trustees (who are also directors of Ymddiriedolaeth Clough Williams-Ellis Foundation for the purposes of
company lawl are responsible for preparing the Trustees, roport and the financial statements in accordance with
applicable law and United Kingdom Acwunting Standar¢Js Iunited Kingdom Generally Accepted Accounting
Practicèl.
Company law requires the TTUStees to prepare financial slalemenls for each financial year. Under company law
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
Vigw of the slate ol affairs of the Charity and of the incoming resources and applicaliori of resources, including
the incoffle and expenditure, of the Charity for that period. In praparing th8se financial statements, the Trustees
are required lo..
' select sultsble accounting poliues and then apply them consistenly-,
' observo the methods and principles in the Charities SORP.,
' make judgments and accounting eslimales that aro reasonable and prudent..
stale whether applicable UK Accounting Stsndards have been followed, subject to any material departures
disclosed and explained in the financial slatemenls.,
prepare the financial stslements on the going concern basis unless il is inappropriate lo presume that the
Charity will Continue in operation.
The Trustees are responsible for kgeping adequate accounting records that are sufficient to show and explain
th8 Charity's transactions and diselose with reasonable accuracy at any lime the financial p05111on of the Charity
and enable them lo ensure that the finanaal statements comply with the Charities Act 2011. They are also
responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the pievention
and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity ol the Charity and financial infomiation included
on the Charitys website. Legislation in the United Kingdom governing the preparation and dissemination of
15nancial slalèments may differ frorn legislation in otherjurisdictions.
Page 7

YMDDIRIEDOLAETH CLOUGH WILLIAMS£LLIS FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED S APRIL 2025
Dlsclosure of Infonnatlon to audltorn
Each of th¢ p•rson8 who are Tru8te88 at the time whon this Trusleas, report is approvad has confirmed that..
so far as that Trustee is aware, ther8 is no relevant audll Infomiation of which the Charfvs auditor5 aro
nawaré, and
that Trustee has tsken all the steps that ought to have been tsken as a Tfuslee in order to be aware of
any relevant audit information and to eslabll8h that the Charivs audltors ar8 aware of that infomlatlon.
Approved by order of the members of the board of Trustees and slgned on their bèhalf by. }
Dale..
0511212025
Pago 8

YMDDIRIEDOLAETH CLOUGH WILLIAMS*LLIS FOUNDATION
INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF YMDDIRIEDOLAETH CLOUGH WILLIAMS-
ELLIS FOUNDATION
Opinion
We have audited the financial slalemenls of Ymddiriedolaeth Clough Williams-Ellis Foundation (the 'parenl
charityl and its subsidiarses Ilho 'group'l for the year ended 5 April 2025 which comprise the Consolidated
slalemenl of financial activities, the Consolidated balance sheet. the Charity balance she&t. Ihe Consolidated
slalemenl of cash flows and the related notes, including a summary of significant accounting policie5. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Finan¢ial Reporting Stsndard 102 'The Financial Rèporting Standard applicable
in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
The financial slalemenls have been propared in accordance with Accounting and Reporting by Charities
preparing their a¢¢ounls in accordance with the Flnan¢ial Reporting Standards appllcable in the UK and Republic
of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Stalernenl of Recommended
Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for ihe accounts lo provide a true and fair view in accordance with the Generally
Accepted Accounting Practice effective for reporting periods beginning on or after l January 201 S.
In our opinion the financial statements..
give 8 true and fair view of the state of the Group's and of the parent charity's affairs as 815 April 2025
and of the Group's incoming resourcas and application of rèsourc88, including its income and expenditure
for the year then ended.,
have been properly prepared in accordance wth United Kingdom Generally Accgpted A￿oUnting
Practice., and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance with the ethical
requirements that are relevant lo our audit of tho financial slalements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions rolatlng to going Concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the flnanclal slalemenl8 Is approprl81e.
Based on the work we have performed, we have not identified any material uncertainties relating lo events or
conditions that. individually or colleclivgly. may cast significant doubl on the Group's or the parent charity's ability
lo continue as a going concern for a period of al least twelve months from when the financial stalements are
aulhorised fo¥ issue.
Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the
relevant socts'ons of this report.
Page 9

YMDDIRIEDOLAETH CLOUGH WILLIAMS*LLIS FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMDDIRIEDOLAETH CLOUGH WILLSAMS-
ELLIS FOUNDATION ICONTINUED}
Other informatlon
The other information comprises Ihe information included in the Annual report other than the ffinancial statements
and our Auditors, report Ihereon. The Truslees are rosponsible for the other informalion contained within the
Annual rtsport. OLJr opinion on the financial ststemenls does not cover the other Infonralion and, except lo th8
exlenl otherwise explicitly slated in OLJr report, we do not express any fomi of assurance conclusion Ihereon. Our
responsibility is lo read the other infofmalion and, in doing so, consider whether the other infornialion is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears lo be malgrially misstaled. If we identify such material in¢onsistencies or appar8nt material
misslatemenls, we are required lo d818miine whether this givgs rise lo a material misslat8m8nl in the linanaal
slalemenls Ihemselv8s. If, based on thg work we have performed, wo ¢onclude that there is a materia1
misstatemgnt of this other inforrnalion, we arg rgquir8d to report that fact.
We have nothing to ￿port in this regard.
Matters on which we are required to rfrport by &xcgptlon
We have nothing lo report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 rèquirès us to report lo you if, in our opinion..
the informats'on given in the Trustees. report is Inconsistgnl in any material respect with the financial
51atemenls', or
the parenl Charity has not kept sufficient accounting records., or
the parenl Charity financial statements are not in agreement with the accounting records and returns.. or
we have not fecaived all Ihe information and explanations we rgquira for our audit.
Respon$lbllltlos of trustses
As explained more lully in the Tnjstees. responsibilities stslement, the Trustees are responsible for the
preparation of the financial slalernenls which give a Iruo and fair view, and for such internal colllrol as th9
Trustees determine is necessary to enable the preparation ol financial statements that are fre8 from material
misslaternenl, whether due lo fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent
¢haritls ability lo continue as a going ¢on¢em. disclosing, as applicable, matters related lo going con¢em and
using the going con￿rn basis of accounllng unless the Trustees either intend lo liquidate the Group or the
parent charrty or lo cease operations, or have no realistic alternativ8 but to do so.
Pagg 10

YMDDIRIEDOLAgfH CLOUGH WILLIAMS-ELLIS FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMDDIRIEDOLAETH CLOUGH WILLIAMS-
ELLIS FOUNDATION (CONTINUED)
Auditors. rè$pon$ibilitie$ for the audit of the financial statements
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect Ihereunder.
Our obj&¢bves are lo obtain reasonable assurance about whether the financial statements a5 a whole are free
from material misslalemenl, whether due lo fraud or error. and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high 18V81 of assLJran¢e, bul is not a guaranleg that an audit condiJct8d in
accordance with ISAS {UKI wlll always delecl a material misstatement when il exists. Misstatements can arlsg
from fraud or error and aTe considered material if. ir*dividually or in the aggregate. they could reasonably be
expected to ir)fluencg Ihg 9conomic decisions of users lak8n on the basis of these financial slalemenls.
Irregularib'•s, including fraud, a￿ instances of nonryc0mpllan￿ with laws and regulation5. We design procedures
in line ¥Mlh our responsibilities, outlined above. lo delecl material misslalemenls in respect of irregularities.
including fraud. The extent lo which our procedures are capable of del&¢ting irregularities. including fraud is
detailed below..
We reviewed the susceplibilily of thè Charilrfs financial slaternenls to material mi5slatemènl and identified the
principal risks, implementing a series of testing procedures to provide us with sufficient comfort lo issue our
opinion.
. We r8Vi8w8d the Charitys regulatory environment lo ensur8 we could conclude that il had acted in accordance
with th8 framework ￿levant to the chaTlty and ils environment and identify any instances of non<ompliance.
We also assessed the Charitys internal control pro¢8dures to onsure we could appropriately scrulinise these
controls and establish whether our understanding of the control envlronment was sufficl8nt to supplement our
additional tgsting procedures.
The engagetnenl team consi51ed of a team that Ihg engagement partner beligves is equipped with the relevant
level of technical and chanty awargness lo carry out our wort to the required standard.
Because of the inherent limitab'ons of an audit. there is a risk that we wll not delecl all irregularities, including
those leading lo a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial slalemenls, as we will be less likely lo become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misr&presgntation.
A further description of our rgsponsibllilles for the audll of the flnanclal slalements Is located on the Flnancial
ReF)Orting Council's websf(e al.. www.frc.o
.ukJaudilorsres
onsibililies. This description fornis part of our
Auditors, report.
Page 11

YMDDIRIEDOLAETH CLOUGH WILLIAM8*LLIS FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF YMDDIRIEDOLAETH CLOUGH WILLIAMS.
ELLIS FOUNDATION (CONTINUED)
Uso of our rnport
This report is made 801ely lo the charws trusts95. as a body, in accordance with Part 4 of the CharkSes
(Accounts and Report$l Regulations 2008. Our aydil work has been undertaken so that we might slate lo the
tharitys trnslees those matters w9 ar9 required to slate to them in an Auditors, report and for no other purpose.
To the fullest extent pemiilled by law, we do not accept or assume responsibility lo anyone other Ihan th¢ chadty
and its Iru8198s, as a body, for our audit work, for this report, or for the oplnlons we have fomi8d.
WRPa
ors
Chartered Accountsnt8
Statulory Audllors
Belmont House
Shrewsbury Buslness Park
Shrewsbury
Shropshiro
SY2 6LG
Dale..
WR Pathers are ellglble to acl as auditors in tams of secllon 1212 of the Compan168 Act 2006.
Page 12

YMDDIRIEDOLAETH CLOUGH WILLIAMS4LLIS FOUNDATION
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2025
Unrestricted Endowmont
funds
funds
2025
2025
Total
fund$
2025
Total
funds
2024
Note
Income and endowmènts from:
Donations and legacies
Charitable activities
36,625
563,887
191.387
68,808
112,879
36.625
563.887
191,387
68,808
112,879
36,225
595,951
385,235
104,390
329,410
other trading activities
Investments
Other income
Total incomo and 8ndowmgnt$
973,586
973,586
1,451,211
Expènditure on:
Charitable acts'vities
1.028,718
1.028,718
1,017,036
Total expondlture
1,028,718
1,028,718
1,07 7.036
Net {exp8nditur8}lincom8 bafore not
losses on investm8nts
{55,132)
1243,761)
155,1321
1243.7611
434, 175
(338,004)
Nel losses on investments
Net (expenditurellincom•
Transfers between funds
1298,8931
{155,0491
1298,893)
96,171
20
135.049
Net movement In funds bèfor• other
re¢ogni5ed gainsl{losses}
{453,9421
155,049
(298,893)
96.171
other recognlsod galnslllosses):
Gains on revaluallon of fixed assets
250,000
250,000
1,355,000
Net movem•nt in fund$
1453,9421
405,049
148.8931
7,451, 177
Rgcon¢lllatlon Of funds-
Total fund5 brought forward
Net movement in funds
3,808,671
1453.9421
17.854,512
405.049
21.663,183
148,8931
20,212,012
1,451, 171
Total funds carried forward
3,354,729
18,259,561
21,614,290
21.663, 183
The Consolidated Statemgnl of Finanaal Aclivi1185 include5 all gain5 and1055es recognised in the year.
The notes on pages 17 10 35 form part of these financial statements.
Page 13

YMDDIRIEDOLAETH CLOUGH WILLIAMS*LLIS FOUNDATION
CONSOLIDATED BALANCE SHEET
FOR THE YEAR ENDED 5 APRIL 2025
202S
2024
Nole
Flxed ass•t8
Tangible assets
Investments
Investment propgty
1.184,602
2,680.050
20.708,8SO
1.258,533
2,993,370
20,458,850
15
14
24.573,502
24,710,753
Current assets
Stocks
Debtors
Cash al bank and in hand
16
17
9,991
185,394
8.155
6,685
130,508
6.493
203,540
143.686
Current Ilabllltles
Creditors.. amounts falling due wilhln one
year
18
1839,7871
(749,530)
Not curronl IlabSlltles
1636,247)
(605,844)
Total assets less currant Ilabllltles
23.937.255
24, 104,909
Creditors= amounts falling due after more
than one yeai
19
12,322,965)
(2,441, 126J
Total not assèts
21,614,290
21,663,783
Charity fund$
Endowment funds
Unrestricted funds
20
20
18,259,561
3.354,729
17,854.512
3,808,671
Total fund$
21,614,290
27,663,783
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.
Dale..
0511212025
The notes on pages 17 10 35 form part of these financial statements.
Paga 14

YMDDIRIEDOLAETH CLOUGH WILLIAMS-ELLIS FOUNDATION
CHARITY STATEMENT OF FINANCIAL POSITION
FOR THE YEAR ENDED S APRIL 2025
2025
2024
No
Flxed assets
Tangible assets
Investments
Investment property
13
1.184,602
2,680,060
20.708,850
1,258,533
2,993,380
20,458,850
14
24.573,512
24, 110,763
Curr¢nt assets
Stocks
Debtors
18
17
9,991
164,271
6,685
97,005
52
Cash at bank and in hand
174,262
103. 742
Current Ilabllltlos
Creditors.. 8mounls falling due wthin ono
ar
18
1812,1861
{f09,596)
Not Currènt Ilab115tles
1637.9241
(605.854)
Total asset$1oss Current Ilabllltle8
23.935,588
24. 104,909
Creditors.. amounts falling due after more
than one year
19
12.321,2981
(2,441, 726)
Totsl not assets
21,614,290
21,663, 183
Charlty funds
Endowment lunds
Unrestricted funds
20
20
18.104.512
3,509,778
17,854,512
3.808,671
Total funds
21,614,290
21.663, 183
The financial stslements were approved and aulhorised lor issue by the Trustees and signed on their behalf by.
05112ft025
Dale..
The notes on pages 17 10 35 form part of these financial siatemenls.
Page15

YMDDIRIEDOLAETH CLOUGH WILLIAMS*LLIS FOUNDATION
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED S APRIL 2025
2025
2024
Nots
Ca$h flows from operatlng a¢tIV￿al
Net ￿sh used in operating activities
{207,3101
(51.793)
Cash flows from Inve•tlng •¢tlvlt105
Dlvldends and intoffjsts from Investments
Ronts from Investments
Purchase of tangible fixed assets
Movement on Inveslmgnts
66,178
2.630
101.793
2,597
(29.393)
2.539,640
313.320
Not cash provldod by Invostlng actlvltl•8
382,128
2.614,637
Cash flows from flnanclng actFvltlo5
Repayments of borrowng
(145,049) (2,696,282)
N•t eash us•d In flnanclng actlvltl•s
{145,0491 12,696,282)
Chang• In cash and cash •qulval•nts In the year
Cash and cash equfvalenls at the beginning ol th6 year
29.769
11333381
{275.7321 (142.294)
Cash and cash •qulval•nt# at th• •nd of the yoar
23
1245,9631 1275, 732)
The notes on pages 17 10 35 fomi part of these financial statements
Page 18

YMDDIRIEDOLAETH CLOUGPI WILLIAMS-ELLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
General Infomiatlon
Yrnddiriedolaeth Clough Williams-Ellis Foundation is a ¢hariiable in¢orporaled organisalion, domiciled in
the UK and has a registered office al Unil 10, St Giles Business Park, Pool Road. Newiown. Powys, SY16
3AJ.
A¢¢ountlng pollcles
2.1 Basls of preparation of financial statements
The financial slalemenls have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalemenl of Recomtnended Practice applicable lo ¢hariligS
preparing their accounts in accordance with the second edition Financial Reporting Standard
applicabl8 in thè UK and Republic of Irgland IFRS 1021 (Octobèr 20191, the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Ymddiriedolaeth Clough Williams-Ellis Foundab'on meets the definition of a public ben8fi18nllty under
FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless
olherwse slated in the relevant accounting policy.
Ymddiriedola6lh Clough Williams-Ellis Foundatson meets the definition of a public benefi't entity under
FRS 102. Assets and liabilili&s are initially recognised al historical cosl or transaction value unless
olherwse slated in the relevant accounting policy.
The Consolidated stalemenl of financial a¢livilies ISOFAI and Consolidated balance sheet
consolidate the financial statements of the Charity and its subsidiary undertaking. The r8suIts of the
subsidiary are consolidated on a line by line basis.
2.2 Status of the Charlty
The Charity is a charitable incorporated organisalion I'CIO'I sel up under ils constitution dated 4
ar¢h 2016 and registered with the Charity Commission. If the CIO is wound up, the members of the
CIO (being Ihe Trusleesl have no liability to contribute lo its assets and no personal responsibility for
sellling its debts or liabilities.
2.3 Fund a¢countlng
General funds ar8 unr8slricl8d funds which are available for use at the discretion of the Trustees in
furthorance of the general objectives of the Charity and which have not baBn designated for other
purposes.
2.4 Expendable Endowment Fund
The expendable endowment fund was Greated when the predecessor Charty was set up on 20 May
1985. The income generated by Ihe assets wilhin the endowment fund can be used for the general
charitable PLFrposes of the Charity. The costs associated with administerin9 and protecting the
endowrnenl fund, which are incurred direcuy in connection with the generation of rentsl income, are
allocated against tha unrestricted fund, in accordance with the SORP IFRS 1021.
Pag8 17

YMDDIRIEDOLAETH CLOUGH WILLIAms￿LLIs FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 202S
Accounting policie5 {contlnu8dl
2.5 Going concern
After making enquires, the Trustees have a reasonable expect8tion that the Charity has adequate
resources to continue in operational existence for the foreseeable future. The Charity therefore
continues to adopt the going con¢em basis in prepafing ils financial stalemenl5.
2.6 Incomg
All income is recognised once the Charrty has entillemenl to the income. il is probable Ihal th9
income will be received and the amount of income receivable can be measured reliably.
For legacies, enb'llement is taken as the eadi8r of the date on which either." the Charity is aware that
probate has been granted. the eslale has been finalised and nob'ficalion ha5 been made by the
execulorlsl lo the Trust that a dislribution will be made, or when a distribution is received from the
estate. Receipt of a legacy, in whole or in part. is only considered probable when the amount can be
measured reliably and the Charity has been notified of the executor's intention to make a dislribulion.
Where leg8¢ies have been notified lo the Charity. or the Charity is aware of the granting of probate.
and the criteria for income recognition have not been rnel. then the legacy is treated as 8 contingent
asset and disclosed if rnalerial.
Grants are included in the Consolidatad slalemenl of finan¢i81 activities on a receivablè basis. The
balance of income received for specific purposes bul not expended during the period is shown in Ihe
relevant funds Dn the Balan￿ sheet. Where incom8 is ¥eceived in advanc8 of entillemenl of receipt,
ils recognition is deferred and included in credllors as deferred income. Where entitlem8nl occurs
before income is received, the In￿Me is accrued.
Donated services or facilities are recognised when the Charity ha5 Control over the item, any
conditions asso¢ialed with th8 donated item have been met, the receipt of economic benefit from the
use of the Charity of the item is probable and that economic benefit can be measured reliably. In
accordan￿ with the Charities SORP IFRS 1021, the general volunteer lime of the Friends is nol
recognised and refer to the Trustees. report for more information about their contribution.
On receipt, donated professional seryices and faclllli8s are rawgnised on the basis of the value of
the gift lo the Charity which is the amount il wouSd have been willing to pay lo obtain seNices or
facilities of equivalent economic benefll on the open market,. a corresponding amount is then
recognised in expenditure in the pgriod of receipt.
Income tax recoverable in relation lo donations received under Grft Aid or deeds of covenant is
recogni5ed at the lime of the donation.
IncL)me lax fecoverable in relation lo investment income is recognised al the time the investment
income is receivable.
Pag& 18

YMDDIRIEDOLAETH CLOUGH WILLIAMS&LLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
Accounting policies Icontinuodl
2.7 Expenditure
Expenditure is recognised once there is 8 leg81 or constructive obligation lo transfer economic benefit
lo a third party, il is probable that a transfer of economic benefits will be required in settlement and
the amount of Ihe obligalion Can be measured reliably. Expenditure is classified by activity. The costs
of each activity are rnade up of the lolal of direct cos15 and shared costs, including support cosls
involved in undertaking each activity. Oirecl costs atlribulable lo a single adivily are allocated dirèctly
lo that activity. Shared costs which contribute to more than one activity and support costs which are
not altrtbutable lo a single activity are apportioned be￿een thos8 activities on a basis consistent with
the use of rèsources. Central staff c051s are allocated on the basis of lime spent, and depreciation
charges allocated on the portion of the assgt's kjse.
Charitable a¢livilie5 and Governance costs are cos15 incurred on the Charity's operations, including
support costs and costs relating to the governance of the Charity apportioned lo charitable aclivilies.
2.8 Inter8$t rg¢glvablo
Interest on funds held on deposil is included when receivable and the amount can be measured
reliably by the Group,. this is normally upon nolifi¢ation of tha interest paid or payable by the institution
with whom the funds are deposited.
2.9 Tangible fixed assets and depreeiatlon
A review for impairment of a fixed ass81 is carried out if events or changes in circumstances indicate
that the carryng value of any fixed asset may not b8 recoverdble. Shortfalls between the carrying
value of fixed assets and thgir recoverable amounts are recognised as impairments. Impairrnenl
losses are recognised in the Statement of Financial Activibes incorporating the income and
expenditure account.
Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible
fixed ass8ts are measured al cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be
included in thè m8asur@m8nt of cost.
Deprecia￿On is not charged on freehold land. Depreciation is provided al rates calculated lo write off
the cost of fixed assets, less their eslimated residual value. over their expected useful lives.
Depreciation is provided on the following bases..
Plant and machingry
Fixtures and fittings
Hydro plant
20°k reducing balance
20'A reducing balance
5% reducing balance
2,10 Inv&stments
Fixed asset investmgnls arg a form of financial instrument and arg initially recognised at their
transaction cost and subsequently rlleasured al fair value al the Balance Sheet datg, unless tha value
cannot be measured reliably in which case it is measured al c051 less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on
investments, in the Slalemenl of Financial Aclivilies.
Page 19

YMDDIRIEDOLAETH CLOUGPI ￿LLIAMS-ELL1s FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
Accounting policies (continued}
2.11 Sto¢k$
Stocks are valued al Ihe lower of cost and nel realis8ble value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct Costs and an appropriate proportion of fixed
and vaiiable overhoads.
2.12 Dèbtors
Trade and other debtors are recognised al th8 s8111emènl amount after any trade discount off8r8d.
Prepayments are valued at tho amount prepaid nel of any trade discounts due.
2.13 Cash at bank and in hand
Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short malurily
ol three months or less from the d818 of acquisilion or opening of the deposit or similar acwunl.
2.14 Liabllitie$ and provlslons
Liabilities aré recognised when there is an obligation al the Balance Shaat date as a result of a past
event, it is probabl8 that a transfer of economic benefit will be required in settlement. and the amount
of the settlement can bè 8stimat8d reliably.
Liabilities are recognised al the amount that the Charity anticipates il wlll pay lo settle the debt or the
amounl it has received as advanced payThenls lor the goods or services il musl provide.
Provisions are measured at the best estimate of the amounts required to Settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, diswunled at the pre-tax discount rale that reflects the risks specific to the liability. The
unwindin9 of the discount is recognised in the Statement of Financial Activities a5 a finance cost.
2.15 Flnancial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basi¢ financial instruments are initially recognised at transaction value and subsequèntly
measured at their settlement value with the exception of bank k)ans which arè subsequently
measured at amortised cost using the effective Interest method.
2.16 Pen$lon$
The Group operate5 a defined contribution pension scheme and the pension charge represents the
alnounts payable by the Group lo the funé in respect of the year.
Page 20

YMDDIRIEDOLAETH CLOUGH WILLIAMSELLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
Critical accounting estimates and areas of judgment
Eslifftales and judgments are conlinualty evaluated and are based on historical experience and other
factors. including expecialions of fulure events Ihal are believed lo be reasonable under the
circumstances.
Critical accounting eskn'mates and assumptions..
The Charity makes eslimales and assumptions concerning the future. Where appropriate, professional
third parties are used lo assist in verifw'ng rnarkel valuations. The resuthng accounting estlmales and
assumptions will. by definition, seldom equal the relatad actual results, The estimates and assumptions
that have a slgnificanl risk of causing a matèrial adjuslmenl lo the carrying amounts of assets and
liabilities within the next financial year are addressed below..
Propety carryng value impairment piovisions - Investment prop8ty is carried at fair value, determined
annually and derived from current market rents and investment property market conditions.
Income from donatlons and legacies
Unre$trlctsd
lund$
2025
Total
funds
202S
Total
funds
2024
Donations
36,625
36.625
36,225
Total 2025
36,625
36.625
36,225
Income from charStable activities
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Rasidenlial
Commercial
Agricutturdl
281.060
233,925
48.902
281.060
233,925
48.902
265.009
263,756
67, 186
Total 2025
563,887
563.887
595.957
Page 21

YMDDIRIEDOLAETH CLOUGH WILLIAMS*LLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
Income from other tradlng actlvltles
Income from non charltabl• tradlng ¥Gtlvltl•i
Unr•¥trictsd
funds
2025
Total
fund8
2025
Total
funds
2024
Sales
H￿rts income
2,564
188.823
2,564
188,823
385.235
Total 2025
191.387
191.387
385,235
Total 2024
385,235
385.235
Inv•ytment Income
Unr•8trlctad
funds
2025
Total
funds
2025
Total
funds
2024
Rent- Wayleaves
Dividends received from listed Investments
2.630
66,178
2.597
101.793
66.178
Total 2025
68,808
68,808
104,390
Total 2024
104.390
104,390
Pag• 22

YMDDIRIEDOLAETH CLOUGH WILLIAMS*LLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YeAR ENDED 5 APRIL 2025
Othor In¢omlng rosources
Unrostrlctod
funds
2025
Total
funds
2025
Total
funds
2024
Plas gardens
Woodland income
Caffi Plas Brondanw
Capital benefft for ear￿ repayment
40,320
4.204
68,355
4(1.320
4,204
68,355
21, 186
6.005
51. 199
251,020
Total 2025
112,879
112,879
329.410
Total 2024
329.410
329,410
Anatysi# of Oxpendlture by actlvltles
A¢tlvltl•s
undortaken
dlractly
202S
Support
costs
2025
Tt)tal
funds
2023
Totel
funds
2024
Rgsidontial
Commercial
AgricU￿ra1
362,499
485.699
47,138
82.411
43,332
7,639
444.910
$29,031
54,777
425,139
539,416
52,481
T¢)tal 2025
895,336
133,382
1,028,718
1.017,036
Tot813024
885,456
131,580
1,017,036
Page 23

YMDDIRIEDOLAETPI CLOUGH WILLIAMS£LLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
Analysis of expendlture by actlvltlgs Icontlnuedl
Analysls of dlr•¢t costs
Totsl
funds
2025
Total
funds
2024
Residontial Commerclal Agricultural
2025
2025
2025
Stsff costs
Depreciation
Repair5 and maintenance
Fams & woodlands works
Plas Gardens
Utilities less reimbursements
Insurance le55 reimbursements
Rent rebates
Management fees and
expenses
Professional fee5
67,283
31.620
146,369
11,062
39,884
3,031
25,780
67,283
73,931
342.223
25,864
39.884
7.086
60,279
8,294
60,553
80,458
305,584
23,863
42,255
10,461
39.573
17,6T6
36.736
170,050
12.852
5,575
25,804
1,950
3,521
29,953
4,119
534
4,546
627
37,980
15.416
1.463
32,689
13,269
5,763
2.339
76,432
31,024
1,463
2S,$48
50,409
85.616
78,297
35.263
Bad debts
Caffi Plas Brondanw expenses
Non recoverable input tax
Hydro expenses
25.548
33.381
52.550
105,542
50,409
85,616
Total 2025
362,499
485,699
47,138
895,336
885.456
Total 2024
346,304
494,516
44,576
885.456
Page 24

YMDDIRIEDOLAETH CLOUGH wILLIAmS￿LLIs FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED SAPRIL 2025
Analysis of gxpendlturo by actlvitles Icontinugdl
Analyyiy of support costs
Total
funds
2025
Total
funds
2024
Rosid•ntial Cornmercial Agri¢ultural
2025
2025
2025
Bank charges and overdraft
inl8resl
Mortgage interest
Governan￿ costs
2,031
48.311
32,069
1.748
41,$84
308
4,087
97,226
32,069
4,335
100.505
26,740
7,331
Totsl 2025
82,411
43.332
7,639
133,382
131.580
Totsl 2024
78.835
44,840
7,905
131,580
10. Net IncomellExpenditure)
This is ststed after ¢harging'.
2025
2024
Depreryalion of tangible fixed assets..
- owned by the Charity
Audilors, remuneration audit
Auditors, remuneration - other services
73,931
19.000
6,205
80,458
17,400
5.755
99,136
103,613
11. Staff Costs
Group
2025
Group
2024
Charity
2025
Ch8ri1y
2024
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
63,574
3,238
59,061
972
63,574
3,238
59,061
972
471
520
471
520
67.283
60,553
67,283
60,553
Pagg 25

YMDDIRIEDOLAETH CLOUGH WILLIAMS*LL18 FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
11. Staff colts Icontlnued
The average number of p8r50ns employed by the Chartty durlng the year was as follows..
Group
2025
No.
Group
2024
Maintenanco & Caffi Pla$ Brondanw staff
No employ88 re¢elved remun8rat6on 8mountlng lo more than £60,000 in eith•r y•ar.
12. Trustee¥. remuneradon and expenses
During the year. no Trustees received any ￿m￿neratIOn or other beneffils {2024- £NIL).
During the yaar ended 5 Aprll 2025. expenses lotalling f2,621 were reimbursed or paid directy to 2
Truslg8$ (2024 - £3,514 to 2 Trnsteesj. These related to Truste8 meetings expenges claimed by
Truslees in the yoor.
Paga 26

YMDDIRIEDOLAETH CLOUGPI wILLIAMS￿LLIs FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
13. Tanglble fixgd assets
Group and Charity
Plant and Flxturgs and
machlnery
flttlngs
Hydro plant
Total
Cost or valuatlon
Al 6 April 2024
373,069
1,412
1,653,818
2,028,299
At 5 April 2025
373.069
1.412
1,653.818
2.028,299
Depreciation
Al 6 April 2024
Charge for the year
294,144
3,946
738
474,884
69,951
769,766
73,931
Al 5 April 2025
298,090
772
544.835
843,697
Net book valuo
At 5 April 2025
74,979
1,108,983
1.184,602
At 5 Apnl 2024
78,925
674
1.178,934
1.258,533
The Trustees own certain heritage assets in the form of chattels induding original drawings by Sir Clough
Williams-Ellis. These items were left to the Trustees as part of the residue of Sir Clough Williams-Ellis'
estate. In th8 Trustees, opinion, the expense of calculating these chattels would be disproportionate lo
the b8nefit and they ar8 disclosed at a nominal value of £1.
Page 27

YMDDIRIEDOLAETH CLOUGH WILLIAMS4LLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
14. Investment property
Group and Charlty
Freohold
Investment
property
Valuatlon
At 6 April 2024
Surplus on revaluatson
20,458,850
250,000
At 5 April 2025
20,708,850
The 2025 valuations were made by Balfours LLP Chartered Surveyors. on an open market value for
existing use basis.
15. Flxed asset Investments
Listsd
Unlistad
Invostments investmonts
T¢tal
Group
Cost or valuation
Al 6 April 2024
Addth'ons
2.993.270
385,212
1491.9031
1211,5481
4.919
100
2.993,370
38S,212
1491,9031
211,5481
4,919
Disposals
Revaluations
Share of profiVlloss}
At 5 April 2025
2.679,950
100
2,680,050
Not book value
Al 5 April 2025
2.679.950
100
2.680,050
Al 5 April 2024
2.993,270
lOQ
2,993,370
All the fixed asset investments are held in the UK.
Valuatlon
Thè listed investments are revalued to th8 current mafkel value per tho listed price per share.
Page 28

YMDDIRIEDOLAETH CLOUGH WILLIAMS£LLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
15. Fixed asset Invg$tm9nts l¢ontlnuedl
Investments
in subsidiary
Listed
Unlisted
Companles Inve8tm•nts Investmgnts
Total
Charlty
Cost or valuation
At 6 April 2024
Additions
Disposals
Rgvalualions
Share of PfofiV{lossl
10
2,993,270
385,212
1491,903}
{211.548)
4,919
100
2,993,380
385,212
{491,9031
{211,5481
4,919
Al 5 April 202S
10
2,679,950
100
2,680.060
Net book valu•
Al 5 April 2025
10
2,679.950
100
2,680,060
At 5 April 2024
2,993,270
too
2,993,380
Prlnclpal $ubsldlaTIg$
The following was a subsidiary undertaking of the Charity..
Name
Company
number
Reglstered office or prfnclpal Holding
place of buslness
ArbbJr Cwe Cyr
10535291
10 St Giles Business Park, Pool
Road, Newtown, Powys, SY16
3AJ.
100Y.
The financial results of the subsldiary for the year were..
Name
Incom
Expendlture
Net assets
Anlur Cwe Cyr
191,387
(191,387)
10
Page 29

YMODIRIEDOLAETH CLOUGH WILLIAMS-ELLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
16. Stocks
Group
2025
Group
2024
Charlty
2025
Charity
2024
Raw materfals and consumables
9,991
6,685
9,991
6,685
17. Debtors
Group
2025
Group
2024
Charlty
2025
Charity
2024
Due within on¢ yoar
Trade debtors
144,297
41,097
102.776
2T,732
134,399
29,872
90,705
6.300
Oth8r debtors
185,394
730.508
164,271
97,005
18. Crgdltors: Amounts falling due within one y•ar
Group
2025
Group
2024
Charity
2025
Charity
2024
Bank ovgrdrafts and loans
Trade creditors
Amounts owed to group undertakings
Other creditors
390,442
172,001
444,837
54, 765
380,442
151,870
10,291
52,368
217,215
423, 170
37,045
29,637
40,601
119,143
52,368
224,976
40,591
209,337
Accruals 8nd deferred income
839,787
149,530
812,186
109.596
The bank have secured tha following security, legal charges on the property known as Garreg Hylldrem
Llanfrolhen Penrhyndeudraeth, Tan y Bryn Croesor Penrhyndeudraelh, Bryn Croesor Penrhyndesjdraelh.
Lgnd lying to the north wesl of Garth y Foel Cro&sor Penrhyndeudraoth and land Iwng lo the south wesl of
Gate House Llanfrothen Penrhyntjeudraeth.
The bank also have securgd charges over the mortgages for Portmeirion Village and part of the
Brondanw Estate.
Pag8 30

YMDDIRFEDOLAETH CLOUGH WILLIAM84LLI8 FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
19. Credltors: Amounts falllng du• aftor moro than ono yoar
Group
2025
Gmup
2024
Charlty
2025
Ch8rtty
2024
Bank loans
2.322.965
2.441,726
2.321,298
2,441,726
The aggregate amount of Ilabllilles payable or repayable wholty or in part more than five years after the
reporting dats 18:
Group
2025
Group
2024
Charlty
2025
Charity
2024
Repayable by instalments
1.833.598
2,441,726
1.833.598
2,441,726
1,833,598
2.441,726
1,833,598
2.441.726
The above loans are mortgages Sgcured on the investment properties and interest is charge al the rates
of 2.98Yo and 3.13% per annum. In addition, the Ch8rity is also liable for repayments of other loans
seoJred with a fixed and floating charge over the Charitys a$¥els. interest is charged at 2.5% per annum.
Pagè 31

YMDDIRIEDOLAETH CLOUGH WILLIAMS-ELLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
20. Statement of funds
Statemont of funds - currant year
Balance at 6
April 2Q24
Transfers
inlout
Gainsl
Balance at 5
ILo$sesl Aprll 2025
Income
Exp•ndltur•
Unre5trlct•d
fund5
General Funds
3,808.671
973.586 11,028,718> (155,0491 (243.761) 3,354,729
Endowment
funds
Endowment
Funds
17,854.512
155.049
250,000 18.259.$61
Total of funds
21,663.183
973,586
11,028.7181
6,239 21.614,290
Stat¢mgnt of funds - prior year
Balance al
6 Apnl 2023
Transfers
in/out
Gains/
8alancg 81
(Lossgs) 5 April 2024
Income Expenditure
Unre$trl¢t•d
funds
General Funds
6,414,525
1,451,29 1
f1,017,036) {2, 702,025)
(338,0(MJ
3.808,671
Endowm•nt
funds
Endowment
Funds
13,797,487
2, 702,025
1,355,0(70 17.854,572
Total of funds
20,212,012
1.451,211 (t,017,036?
1,016,996 21,663. 183
Page 32

YMDDIRIEDOLAETH CLOUGH wILLIAmS￿LLIs FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
21. Analysis of nel assets behveen funds
Analysis of net assets betwgen fund$ - current year
Unrèstrlcted Endowmont
fvnd$
fund$
2025
2025
Total
funds
2025
Tanglbl8 fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within ong year
Creditors du8 in more than one yeaT
1,184,802
2,680,050
1,184,602
2,6BO,0S0
20.708,850 20,708,850
203,540
203.540
1713.463} 1126,3241 1839.7871
12.322,965} 12,322.9651
Total
3,354,729 18,259,561 21,614,290
Analy$l$ of net assets between funds - prlor year
UnrestriGted Endowment
fvnds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Fixed asset inve51rnenls
Investment property
Currenl assets
Creditors due within one year
Creditors due in morg than one year
1.258.533
2.993.370
Y.258,533
2,993.370
20.458,850 20,458,850
143,686
(762,612) (749,530J
(2,441,726) (2,44t, T26)
143,686
(586,918)
Total
3,808,677 17,854,512 21,663, 183
Page 33

YMDDIRIEDOLAETH CLOUGH WILLIAMS-ELLIS FOUNDATIOM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
22. Reconclllatlon of net movement In funds to not cash flow from opgratlng activitles
Group
2025
Group
2024
Nel in¢ome]expendilure for the year las per Slalernenl of Financial
Acliviliesl
1298,8931
96,171
Adjustments for:
Deprgcialion charges
Dividends and interests from investments
Rents from investments
Decreasellincreasel in stocks
Increase in debtors
Increasellde¢rease} in creditors
73.931
166.1781
12,6301
13.3061
154,8861
144,652
80.458
(107,793)
(2,597)
3,306
(12,232J
(IY5,106J
Net cash uséd In operatlng activitles
1207,310}
(51, 793)
23. Analysls of cash and cash equlvalonts
Group
2025
Gmup
2024
Cash in hand
Overdraft factlity repayable on demand
8,155
1254,118)
6,493
(282,225)
Toial cash and cash oqulvalants
1245,9631
(275, 732)
Analysls of Changes In ngt dobt
At 6 Aprll
2024
At 5 Aprll
2025
Cash flows
Cash al bank and in hand
Bank overdrafts and loans repayable on demand
Debt due after 1 year
6,493
1444,837)
12,441,726)
1,662
54,395
118,761
8,155
1390.4421
12,322.9651
12,880,070}
174,818 12,705,252>
Page 34

YMDDIRIEDOLAETH CLOUGH WILLIAMS-ELLIS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2025
25.
Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of Ihe Charity in an independently administered fund. The pension cost charge
represents contributions payable by the Charity lo the fund and amounted to £471 12024.. £5201.
26. Related party transactlons
The following Trustees are also directors ol Portmgirion Limited..
JC Wallace
M Angharad
R Garden
Portmeirion Limited, is a lenanl of property owned by the Charity for which rent was payable of £225.260
12024.. £201,492). The nel balance oulslanding at tho year-end is £92,540 12024.. £56.3151. The rent
payable by Portmeirion Limited is $¢1 al a markel value, determined by independent chartered surveyors.
Portmeirion Limited also provides certain meeting facilities to the Trustees for a charge al rnarkel value.
M Angharad, Tnjstee is also a director of Portmèirion Shops Limit8cI, a tenant of propety own8d by the
Charity for which rent was payable of £1.32112024.' £1,321). The net balance OLrtstanding 81 the year end
is £39612024= £3961.
M Angharad, Trustee is also a Trustee of Ymddiriedolaeth Susan Williams-E15is Foundation, a tenant of
the property owned by the Charity for which rent was payable of £14,92812024.. £14,9281 per annum. The
net balance outstanding al the year-end Is £9,17212024-. £4.6221.
R. LI￿elyn is connected to the Charity by virtue of being the brolher of Trustee M Angharad. The Charity
received rental income lo the amount £9,90012024'. £9,900) from R. Llywelyn. The rent payable by R.
Llywelyn is set at a market value determined by independent chartered surveyors in accordance with
lease approved by the Charty Commission. The net balance outstanding at the yoar-end is £Nil12024'.
£Nill.
Included within the insurance pollcy for the Chartty are some properties which are owned by Trustees of
the Charity. The cost of the insurance is fully repaid by the Trustees back lo the Charity.
Page 35