**REGISTERED CHARITY NUMBER: 1166059**
## **Trustees' Report and**
**Unaudited Financial Statements for the Year Ended 31 December 2022**
**for**
## **Llantrisant Guildhall CIO**
Curtis Bowden & Thomas Limited Chartered Certified Accountants 9 Court Road Bridgend CF31 1BE
**Llantrisant Guildhall CIO**
## **Contents of the Financial Statements for the Year Ended 31 December 2022**
|||**Page**||
|---|---|---|---|
|**Trustees' Report**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**|6|to|7|
|**Notes to the Financial Statements**|8|to|14|
|**Detailed Statement of Financial Activities**|15|to|16|
**Llantrisant Guildhall CIO**
## **Trustees' Report**
## **for the Year Ended 31 December 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **Objectives and activities Public benefit**
The trustees have referred to the guidance of the Charity Commissioners, and consider that they have complied with their duty under section 17(5) of the Charities Act 2011. They consider that their activities are conducted for the public benefit through the provision and maintenance of the historic Guildhall, the advancement of public education on the history of the town, and the promotion of the Guildhall and the associated Castle Green as venues for the benefit of the residents of Llantrisant and the surrounding area.
1. The objects of the CIO are, for the public benefit:
(a) to establish and maintain a museum and/or art gallery for the benefit of the public;
(b) the provision and maintenance of the Llantrisant Guildhall ("Guildhall") for the benefit of the Freemen whose names are contained in the Freemen's roll maintained by The Llantrisant Town Trust;
(c) to advance the education of the public on the history of the town of Llantrisant and the surrounding area by providing activities and information at the Guildhall and the preservation of the said Guildhall;
(d) to promote for the benefit of the inhabitants of Llantrisant and the surrounding area the provision of the Guildhall for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants, provided this clause 3.1(c) does not conflict with clause 3.1(b) above; and (e) to the extent only that income of the CIO is not applied in furtherance of objects (a), (b), (c) and (d) above to use the same for and towards the purposes of The Llantrisant Town Trust
Page 1
**Llantrisant Guildhall CIO**
## **Trustees' Report**
## **for the Year Ended 31 December 2022**
## **Objectives and activities Continued**
## **Activities**
A full programme of events was maintained throughout the year, including 12 evening lectures on a variety of topics of local historic interest. There were six concerts with a wide variety of genres and performers, and regular seasonal events included easter Bonnet Making, an Easter Parade and Egg Hunt, and Afternoon Tea with the Easter Bunny, as well as Halloween and Christmas Events. In June, two events were held to celebrate the Queen's Platinum Jubilee, a Big Picnic on the Castle green, and an afternoon tea in the Guildhall: both were very well supported. The (now annual) Medieval Fayre took place at the beginning of September, with combat demonstrations by Lords and Lilies and the Cosmeston Archers.
The Guildhall was open to the public on three days each week ( Thursday to Saturday ), and a regular programme of Thursday morning clubs was held, including a book club, a creative writing class, crafting and oral history.
In addition, the Guildhall was used for a variety of private functions, including weddings, anniversary parties and naming ceremonies.
All this activity was very ably supported by a team of 30 volunteers, who are an indispensable asset to the CIO.
## **Management**
The day to day operations were planned, marketed and supervised by the employed Guildhall manager. Trustees met bi monthly to consider policy issues.
## **Financial Background**
Throughout 2022 the CIO was handicapped by the consequences of the Covid closures, and the rapid increase in prices caused by the war in Ukraine and then by the market reaction to the Truss government. This left the CIO facing not only the repayment of the "bounce back" loan, but also very significant energy price increases. Fortunately, the CIO was able to secure grant assistance to cover part of these cost increases. Financial Position
## **Financial review**
## **Financial position**
Income totalled £43,668 (2021 - £59,393)
Expenditure totalled £75,803 (2021 - £73,617)
This resulted in a deficit for the year of £32,135 (2021 - £14,224)
Total funds carried forward were £1,173,467 (2021 - £1,205,062), which includes £1,077,832 (2021 - £1,096,794) restricted fund and £95,635 (2021 - £108,808) unrestricted fund carried forward.
## **Reserves policy**
The charity intends to retain surpluses in order to finance additional activities and to leave a working capital element to maintain the charities facilities and to cover future running costs to ensure continuity.
## **Structure, governance and management**
## **Governing document**
Llantrisant Guildhall CIO is registered as a charitable incorporated organisation. Trustees met several times during the year.
## **Reference and administrative details**
## **Registered Company number**
(England and Wales)
Page 2
**Llantrisant Guildhall CIO**
## **Trustees' Report**
## **for the Year Ended 31 December 2022**
**Registered Charity number** 1166059
## **Registered office**
1 The Mews Church Street Llantrisant CF72 8SP
## **Trustees**
M J Hooker T W Grother D R Gwilt S C Fudge S Lamb J C Beattie C J Davies J Barton (resigned 15.11.22) A D Thompson A Cowan D A Myles (appointed 15.11.22)
## **Independent Examiner**
Robert Lloyd Curtis Bowden & Thomas Limited Chartered Certified Accountants 9 Court Road Bridgend CF31 1BE
Approved by order of the board of trustees on 25 October 2023 and signed on its behalf by:
M J Hooker - Trustee
Page 3
**Independent Examiner's Report to the Trustees of Llantrisant Guildhall CIO**
## **Independent examiner's report to the trustees of Llantrisant Guildhall CIO ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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 understanding of the accounts to be reached.
Robert Lloyd
Curtis Bowden & Thomas Limited Chartered Certified Accountants 9 Court Road Bridgend CF31 1BE
25 October 2023
Page 4
**Llantrisant Guildhall CIO**
## **Statement of Financial Activities**
## **for the Year Ended 31 December 2022**
|Notes
**Income and endowments from**
**Charitable activities**
3
Charitable activities
Other trading activities
2
**Total**
**Expenditure on**
Raising funds
**Charitable activities**
Charitable activities
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|Unrestricted
fund
£
13,581
30,087
43,668
13,368
41,056
2,417
56,841
(13,173)
108,808
95,635|Restricted
fund
£
-
-
-
-
-
18,962
18,962
(18,962)
1,096,794
1,077,832|31.12.22
Total
funds
£
13,581
30,087
43,668
13,368
41,056
21,379
75,803
(32,135)
1,205,602
1,173,467|31.12.21
Total
funds
£
44,535
14,858
59,393
9,188
43,337
21,092
73,617
(14,224)
1,219,826
1,205,602|
|---|---|---|---|---|
The notes form part of these financial statements
Page 5
## **Llantrisant Guildhall CIO**
## **Balance Sheet 31 December 2022**
|Notes
**Fixed assets**
Tangible assets
8
**Current assets**
Stocks
9
Debtors
10
Cash at bank
**Creditors**
Amounts falling due within one year
11
**Net current assets**
**Total assets less current liabilities**
**Creditors**
Amounts falling due after more than one year
12
**NET ASSETS**
**Funds**
14
Unrestricted funds
Restricted funds
**Total funds**|Unrestricted
fund
£
121,457
8,080
2,845
10,051
20,976
(9,170)
11,806
133,263
(37,628)
95,635|Restricted
fund
£
1,068,195
-
9,637
-
9,637
-
9,637
1,077,832
-
1,077,832|31.12.22
Total
funds
£
1,189,652
8,080
12,482
10,051
30,613
(9,170)
21,443
1,211,095
(37,628)
1,173,467
95,635
1,077,832
1,173,467|31.12.21
Total
funds
£
1,209,597
8,080
9,762
29,430
47,272
(8,921)
38,351
1,247,948
(42,346)
1,205,602
108,808
1,096,794
1,205,602|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
**Llantrisant Guildhall CIO**
## **Balance Sheet - continued 31 December 2022**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 25 October 2023 and were signed on its behalf by:
M J Hooker - Trustee
The notes form part of these financial statements
Page 7
**Llantrisant Guildhall CIO**
## **Notes to the Financial Statements**
## **for the Year Ended 31 December 2022**
## **1. Accounting policies**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
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.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - No depreciation charge Fixtures and fittings - 20% on cost
Depreciation has not been charged on Freehold Property, a Heritage Asset, as it is the opinion of the Trustees that the property has an indefinite life. The Trustees do not consider that the property has suffered any impairment at the balance sheet date.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
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. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 8
**Llantrisant Guildhall CIO**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
|**2.**|**Other trading activities**||||
|---|---|---|---|---|
||||31.12.22|31.12.21|
||||£|£|
||Fundraising events||17,271|6,458|
||Shop income||6,586|7,835|
||Hire of hall||1,676|565|
||Weddings||4,554|-|
||||30,087|14,858|
|**3.**|**Income from charitable activities**||||
||||31.12.22|31.12.21|
|||Activity|£|£|
||Donations and appeals|Charitable activities|6,581|7,243|
||Grants|Charitable activities|7,000|37,292|
||||13,581|44,535|
|**4.**|**Net income/(expenditure)**||||
||Net income/(expenditure) is|stated after charging/(crediting):|||
||||31.12.22|31.12.21|
||||£|£|
||Depreciation - owned assets||21,379|21,092|
## **5. Trustees' remuneration and benefits**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **6. Staff costs**
The average monthly number of employees during the year was as follows:
||31.12.22|31.12.21|
|---|---|---|
|Management|1|1|
No employees received emoluments in excess of £60,000.
continued...
Page 9
**Llantrisant Guildhall CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **7. Comparatives for the statement of financial activities**
|**Income and endowments from**
**Charitable activities**
Charitable activities
Other trading activities
**Total**
**Expenditure on**
Raising funds
**Charitable activities**
Charitable activities
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|Unrestricted
fund
£
40,695
14,858
55,553
9,188
39,497
2,130
50,815
4,738
104,070
108,808|Restricted
fund
£
3,840
-
3,840
-
3,840
18,962
22,802
(18,962)
1,115,756
1,096,794|Total
funds
£
44,535
14,858
59,393
9,188
43,337
21,092
73,617
(14,224)
1,219,826
1,205,602|
|---|---|---|---|
continued...
Page 10
**Llantrisant Guildhall CIO**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **8. Tangible fixed assets**
|**Cost**
At 1 January 2022
Additions
At 31 December 2022
**Depreciation**
At 1 January 2022
Charge for year
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021
**9.**
**Stocks**
Stocks
**10.**
**Debtors: amounts falling due within one year**
Llantrisant Town Trust
Prepayments and accrued income|Freehold
property
£
1,144,860
-
1,144,860
-
-
-
1,144,860
1,144,860|Fixtures
and
fittings
£
105,459
1,434
106,893
40,722
21,379
62,101
44,792
64,737
31.12.22
£
8,080
31.12.22
£
125
12,357
12,482|Totals
£
1,250,319
1,434|Totals
£
1,250,319
1,434|
|---|---|---|---|---|
||||1,251,753||
||||40,722
21,379||
||||62,101||
||||1,189,652||
||||1,209,597||
||||31.12.21
£
8,080
31.12.21
£
125
9,637
9,762||
|||||9,762|
continued...
Page 11
**Llantrisant Guildhall CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
|**11.**
**Creditors: amounts falling due within one year**
Bank loans and overdrafts (see note 13)
Social security and other taxes
Other creditors
Accrued expenses
**12.**
**Creditors: amounts falling due after more than one year**
Bank loans (see note 13)
**13.**
**Loans**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
**14.**
**Movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Guildhall Restoration
**TOTAL FUNDS**|At 1.1.22
£
108,808
1,096,794
1,205,602|31.12.22
£
4,717
120
2,781
1,552
9,170
31.12.22
£
37,628
31.12.22
£
4,717
9,722
27,906
Net
movement
in funds
£
(13,173)
(18,962)
(32,135)|31.12.21
£
4,623
271
2,647
1,380
8,921
31.12.21
£
42,346
31.12.21
£
4,623
9,529
32,817
At
31.12.22
£
95,635
1,077,832|
|---|---|---|---|
||||1,173,467|
continued...
Page 12
**Llantrisant Guildhall CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **14. Movement in funds - continued**
Net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
43,668
**Restricted funds**
Guildhall Restoration
-
**TOTAL FUNDS**
43,668
**Comparatives for movement in funds**
At 1.1.21
£
**Unrestricted funds**
General fund
104,070
**Restricted funds**
Guildhall Restoration
1,115,756
**TOTAL FUNDS**
1,219,826
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
55,553
**Restricted funds**
Guildhall Restoration
3,840
**TOTAL FUNDS**
59,393|Resources
expended
£
(56,841)
(18,962)
(75,803)
Net
movement
in funds
£
4,738
(18,962)
(14,224)
Resources
expended
£
(50,815)
(22,802)
(73,617)|Movement
in funds
£
(13,173)
(18,962)
(32,135)
At
31.12.21
£
108,808
1,096,794
1,205,602
Movement
in funds
£
4,738
(18,962)
(14,224)|
|---|---|---|
continued...
Page 13
**Llantrisant Guildhall CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **14. Movement in funds - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Guildhall Restoration
**TOTAL FUNDS**|At 1.1.21
£
104,070
1,115,756
1,219,826|Net
movement
in funds
£
(8,435)
(37,924)
(46,359)|At
31.12.22
£
95,635
1,077,832|
|---|---|---|---|
||||1,173,467|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|99,221|(107,656)|(8,435)|
|**Restricted funds**||||
|Guildhall Restoration|3,840|(41,764)|(37,924)|
|**TOTAL FUNDS**|103,061|(149,420)|(46,359)|
## **15. Related party disclosures**
There were no related party transactions for the year ended 31 December 2022.
Page 14
**Llantrisant Guildhall CIO**
|**Income and endowments**
**Other trading activities**
Fundraising events
Shop income
Hire of hall
Weddings
**Charitable activities**
Donations and appeals
Grants
**Total incoming resources**
**Expenditure**
**Other trading activities**
Fundraising costs
Cost of goods for resale
**Charitable activities**
Wages
Pensions
Repairs and maintenance
Subscriptions
Legal and professional
Postage and stationery
Accountancy fees
Sundries
Marketing and advertising
Light and heat
Insurance
Computer costs
Loan interest and charges
Wedding licence
**Other**
Depreciation of tangible fixed assets|**Detailed Statement of Financial Activities**
**for the Year Ended 31 December 2022**
31.12.22
31.12.21
£
£
17,271
6,458
6,586
7,835
1,676
565
4,554
-
30,087
14,858
6,581
7,243
7,000
37,292
13,581
44,535
43,668
59,393
11,331
6,145
2,037
3,043
13,368
9,188
14,832
14,659
258
148
1,660
2,726
358
109
-
8,084
4,827
3,014
1,500
3,893
2,233
1,503
2,958
3,049
5,323
1,448
3,430
3,373
525
294
2,005
1,037
1,147
-
41,056
43,337
21,379
21,092|**Detailed Statement of Financial Activities**
**for the Year Ended 31 December 2022**
31.12.22
31.12.21
£
£
17,271
6,458
6,586
7,835
1,676
565
4,554
-
30,087
14,858
6,581
7,243
7,000
37,292
13,581
44,535
43,668
59,393
11,331
6,145
2,037
3,043
13,368
9,188
14,832
14,659
258
148
1,660
2,726
358
109
-
8,084
4,827
3,014
1,500
3,893
2,233
1,503
2,958
3,049
5,323
1,448
3,430
3,373
525
294
2,005
1,037
1,147
-
41,056
43,337
21,379
21,092|
|---|---|---|
||||
|||14,858
7,243
37,292|
|||44,535|
|||59,393
6,145
3,043|
|||9,188
14,659
148
2,726
109
8,084
3,014
3,893
1,503
3,049
1,448
3,373
294
1,037
-|
|||43,337
21,092|
This page does not form part of the statutory financial statements
Page 15
**Llantrisant Guildhall CIO**
|Total resources expended
**Net expenditure**|**Detailed Statement of Financial Activities**
**for the Year Ended 31 December 2022**
31.12.22
31.12.21
£
£
75,803
73,617
(32,135)
(14,224)|
|---|---|
|||
This page does not form part of the statutory financial statements
Page 16