REGISTERED CHARITY NUMBER: 1166059
Trustees' Report and
Unaudited Financial Statements
for the Year Ended 31 December 2023
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 2023
| 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 2023
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 2023. 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 2023
Objectives and activities Continued
Activities
The year commenced with a major new initiative, in which a new tearoom was installed in what was previously known as the Archer's Hall on the ground floor of the Guildhall. The layout of "Gwyneth's "managed to retain both the museum exhibits and the interactive children's games in the room, while providing seating for about 28 people. The initiative is operated entirely by volunteers and has provided a significant boost to the income of the Guildhall. Food hygiene training was provided to volunteers, and the establishment was awarded a 5-star hygiene assessment by the local authority.
Volunteer training was carried out in a number of other areas, including fire safety, safeguarding and risk assessment. Ongoing maintenance of the building, including cleaning and painting was carried out by volunteers. Volunteer social activities included a visit to Parliament.
A significant problem with the foul drainage from the building within the neighboring property was eventually rectified by Welsh Water. Because this work failed to meet the timetable standards set by the company, the CIO was awarded compensation of £500.
The year saw a growing number of wedding bookings, including that of the Guildhall manager, Dean Powell. These also provided a good source of income.
A number of teachers from local primary schools were shown the facilities of the building, with an emphasis on educational opportunities, and these resulted in the booking of school workshops. It was good to see the recovery in the education programme, following the barren period during the Covid pandemic.
The Guildhall continued to receive donated items towards its nascent museum function, and by May 2023, there were over 1200 items on the accession register. Work continued on the documentation needed to achieve recognised museum status, which will eventually give the Guildhall access to additional sources of funding.
The events programme continued successfully with a series of lectures, the Big Picnic, open air theatre and opera, and the medieval weekend, as well as child-oriented events at Easter and Christmas. Most of these were profitable.
The Guildhall suffered a major blow in August 2023 with the unexpected death of Dean Powell, the Guildhall manager, thus triggering the most serious risk identified in the CIO's risk register. Services were maintained with very considerable difficulty with the help of volunteers, especially Trustee Cathy Davies, and the year concluded with a successful recruitment process for the manager's post.
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 review Financial position
Income totalled £80,259 (2022 - £43,668)
Expenditure totalled £84,245 (2022 - £75,803)
This resulted in a deficit for the year of £3,986 (2022- £32,135)
Total funds carried forward were £1,169,481 (2022 - £1,173,467), which includes restricted funds of £1,049,233 (2022 - £1,077,832) and unrestricted funds of £120,248 (2022 - £95,635) 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.
Page 2
Llantrisant Guildhall CIO
Trustees' Report
for the Year Ended 31 December 2023
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)
Registered Charity number
1166059 Registered office Llantrisant Guildhall George Street Llantrisant CF72 8EE Trustees M J Hooker T W Grother D R Gwilt S C Fudge S Lamb J C Beattie C J Davies A D Thompson A Cowan D A Myles
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 24 October 2024 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 2023.
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:
-
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
-
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
-
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
24 October 2024
Page 4
Llantrisant Guildhall CIO
Statement of Financial Activities
for the Year Ended 31 December 2023
| 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) Transfers between funds 14 Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted fund £ 25,740 54,519 80,259 19,531 43,272 2,480 65,283 14,976 9,637 24,613 95,635 120,248 |
Restricted fund £ - - - - - 18,962 18,962 (18,962) (9,637) (28,599) 1,077,832 1,049,233 |
31.12.23 Total funds £ 25,740 54,519 80,259 19,531 43,272 21,442 84,245 (3,986) - (3,986) 1,173,467 1,169,481 |
31.12.22 Total funds £ 13,581 30,087 43,668 13,368 41,056 21,379 75,803 (32,135) - (32,135) 1,205,602 1,173,467 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 5
Llantrisant Guildhall CIO
Balance Sheet
31 December 2023
| Notes Fixed assets Tangible assets 8 Current assets Stocks 9 Debtors 10 Cash at bank and in hand 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 £ 119,613 8,555 5,365 25,973 39,893 (9,853) 30,040 149,653 (29,405) 120,248 |
Restricted fund £ 1,049,233 - - - - - - 1,049,233 - 1,049,233 |
31.12.23 Total funds £ 1,168,846 8,555 5,365 25,973 39,893 (9,853) 30,040 1,198,886 (29,405) 1,169,481 120,248 1,049,233 1,169,481 |
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 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 2023
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 24 October 2024 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 2023
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 2023
2. Other trading activities
| Other trading activities | |||
|---|---|---|---|
| 31.12.23 | 31.12.22 | ||
| £ | £ | ||
| Fundraising events | 17,978 | 17,271 | |
| Shop income | 10,763 | 6,586 | |
| Hire of hall | 1,534 | 1,676 | |
| Weddings | 8,119 | 4,554 | |
| Tearooms | 16,125 | - | |
| 54,519 | 30,087 | ||
| Income from charitable activities | |||
| 31.12.23 | 31.12.22 | ||
| Activity | £ | £ | |
| Donations and appeals | Charitable activities | 4,634 | 6,581 |
| Grants | Charitable activities | 21,106 | 7,000 |
| 25,740 | 13,581 | ||
| Net income/(expenditure) | |||
| Net income/(expenditure) is | stated after charging/(crediting): | ||
| 31.12.23 | 31.12.22 | ||
| £ | £ | ||
| Depreciation - owned assets | 21,442 | 21,379 |
3. Income from charitable activities
4. Net income/(expenditure)
5. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
6. Staff costs
The average monthly number of employees during the year was as follows:
| 31.12.23 | 31.12.22 | |
|---|---|---|
| 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 2023
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 8. Tangible fixed assets Cost At 1 January 2023 Additions At 31 December 2023 Depreciation At 1 January 2023 Charge for year At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 |
Unrestricted fund £ 13,581 30,087 43,668 13,368 41,056 2,417 56,841 (13,173) 108,808 95,635 Freehold property £ 1,144,860 - 1,144,860 - - - 1,144,860 1,144,860 |
Restricted fund £ - - - - - 18,962 18,962 (18,962) 1,096,794 1,077,832 Fixtures and fittings £ 106,893 636 107,529 62,101 21,442 83,543 23,986 44,792 |
Total funds £ 13,581 30,087 43,668 13,368 41,056 21,379 75,803 (32,135) 1,205,602 1,173,467 Totals £ 1,251,753 636 1,252,389 62,101 21,442 83,543 1,168,846 1,189,652 |
|||
|---|---|---|---|---|---|---|
continued...
Page 10
Llantrisant Guildhall CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 9. | Stocks | ||
|---|---|---|---|
| 31.12.23 | 31.12.22 | ||
| £ | £ | ||
| Stocks | 8,555 | 8,080 | |
| 10. | Debtors: amounts falling due within one year | ||
| 31.12.23 | 31.12.22 | ||
| £ | £ | ||
| Llantrisant Town Trust | - | 125 | |
| Prepayments and accrued income | 5,365 | 12,357 | |
| 5,365 | 12,482 | ||
| 11. | Creditors: amounts falling due within one year | ||
| 31.12.23 | 31.12.22 | ||
| £ | £ | ||
| Bank loans and overdrafts (see note 13) | 5,428 | 4,717 | |
| Social security and other taxes | - | 120 | |
| Other creditors | 348 | 2,781 | |
| Accrued expenses | 4,077 | 1,552 | |
| 9,853 | 9,170 | ||
| 12. | Creditors: amounts falling due after more than one year | ||
| 31.12.23 | 31.12.22 | ||
| £ | £ | ||
| Bank loans (see note 13) | 29,405 | 37,628 | |
| 13. | Loans | ||
| An analysis of the maturity of loans is given below: | |||
| 31.12.23 | 31.12.22 | ||
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Bank loans | 5,428 | 4,717 | |
| Amounts falling between one and two years: | |||
| Bank loans - 1-2 years | 10,856 | 9,722 | |
| Amounts falling due between two and five years: | |||
| Bank loans - 2-5 years | 18,549 | 27,906 |
continued...
Page 11
Llantrisant Guildhall CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
14. Movement in funds
| Unrestricted funds General fund Restricted funds Guildhall Restoration TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Restricted funds Guildhall Restoration TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Guildhall Restoration TOTAL FUNDS |
At 1.1.23 £ 95,635 1,077,832 1,173,467 as follows: |
Net movement in funds £ 14,976 (18,962) (3,986) Incoming resources £ 80,259 - 80,259 At 1.1.22 £ 108,808 1,096,794 1,205,602 |
Transfers between funds £ 9,637 (9,637) - Resources expended £ (65,283) (18,962) (84,245) Net movement in funds £ (13,173) (18,962) (32,135) |
At 31.12.23 £ 120,248 1,049,233 1,169,481 Movement in funds £ 14,976 (18,962) (3,986) At 31.12.22 £ 95,635 1,077,832 1,173,467 |
|---|---|---|---|---|
continued...
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Llantrisant Guildhall CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
14. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 43,668 | (56,841) | (13,173) |
| Restricted funds | |||
| Guildhall Restoration | - | (18,962) | (18,962) |
| TOTAL FUNDS | 43,668 | (75,803) | (32,135) |
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 1.1.22 £ 108,808 1,096,794 1,205,602 |
Net movement in funds £ 1,803 (37,924) (36,121) |
Transfers between funds £ 9,637 (9,637) - |
At 31.12.23 £ 120,248 1,049,233 |
|---|---|---|---|---|
| 1,169,481 |
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 | 123,927 | (122,124) | 1,803 |
| Restricted funds | |||
| Guildhall Restoration | - | (37,924) | (37,924) |
| TOTAL FUNDS | 123,927 | (160,048) | (36,121) |
continued...
Page 13
Llantrisant Guildhall CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
15. Related party disclosures
There were no related party transactions for the year ended 31 December 2023.
Page 14
Llantrisant Guildhall CIO
| Income and endowments Other trading activities Fundraising events Shop income Hire of hall Weddings Tearooms Charitable activities Donations and appeals Grants Total incoming resources Expenditure Other trading activities Fundraising costs Cost of goods for resale Weddings costs Tearoom expenses Charitable activities Wages Pensions Repairs and maintenance Subscriptions Professional & consultancy Postage and stationery Accountancy fees Sundries Marketing and advertising Light and heat Insurance Computer costs Loan interest and charges Wedding licence Training Water rates |
Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 £ £ 17,978 17,271 10,763 6,586 1,534 1,676 8,119 4,554 16,125 - 54,519 30,087 4,634 6,581 21,106 7,000 25,740 13,581 80,259 43,668 8,072 11,331 433 2,037 1,000 - 10,026 - 19,531 13,368 10,890 14,832 172 258 2,675 1,660 415 358 5,050 - 2,420 4,827 3,540 1,500 2,837 2,233 2,007 2,958 8,977 5,323 3,534 3,430 740 525 603 2,005 - 1,147 90 - (678) - 43,272 41,056 |
Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 £ £ 17,978 17,271 10,763 6,586 1,534 1,676 8,119 4,554 16,125 - 54,519 30,087 4,634 6,581 21,106 7,000 25,740 13,581 80,259 43,668 8,072 11,331 433 2,037 1,000 - 10,026 - 19,531 13,368 10,890 14,832 172 258 2,675 1,660 415 358 5,050 - 2,420 4,827 3,540 1,500 2,837 2,233 2,007 2,958 8,977 5,323 3,534 3,430 740 525 603 2,005 - 1,147 90 - (678) - 43,272 41,056 |
|---|---|---|
| 30,087 6,581 7,000 |
||
| 13,581 | ||
| 43,668 11,331 2,037 - - |
||
| 13,368 14,832 258 1,660 358 - 4,827 1,500 2,233 2,958 5,323 3,430 525 2,005 1,147 - - |
||
| 41,056 |
This page does not form part of the statutory financial statements
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Llantrisant Guildhall CIO
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| 31.12.23 | 31.12.22 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Other | ||
| Depreciation of tangible fixed assets | 21,442 | 21,379 |
| Total resources expended | 84,245 | 75,803 |
| Net expenditure | (3,986) | (32,135) |
This page does not form part of the statutory financial statements
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