REGISTERED CHAIUTY IYUMBEIL. 1167244 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR TYWI GATEWAY TRUST Xeinadin Audit Limited Statytory Auditor8 and Charted knrountant 24 Lammas Street SA313AL
TYWI GATEWAY TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trllsteej Report of the Independent Audltori 7 to 10 Statement of Flnanclal A¢dvltlei 11 BAlan¢e SIet 12 Note4 to the FI1¢11 Statements 13 to 23
TYWI GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The tru8tees pre8ent their rert with the financial statements of the charity for the year ended 31 March 2025. The tteeS have adopted the provi8ion8 of Accounting and Ryrting by Charitie. Statement of R0nelld¢d Practice applicable lo ¢11tieS prepari their accounts in accordance vrith thc Fin1 R¢porting Standard applicable An the UK and R4)ublic of Ireland (FRS 102) (efftctive l January 2019). OBJECTIVES AND ACTIVTTIES Objectlves and alm• The Tywi Gateway Trust 18 au indep¢tht Clwitable Incorporated Organisation (Registered Chlty Numb¢r 1167244) and waj ¢3labli8hgd in May 2016 to promote for the benefit of the public at the Bi8hop'8 Park and its cultural Setting in Abergwiji the coll8ervatio protectio improvement and understanding of the built Bnd naturnl envirrnents. This report cover6 th¢ 12 month perAod endiD8 31 March 2025. Throughout the Pttlod and in proparation of thi6 report the truBtee8 have paid due gard to public benefit guidance published by the Cltsritieg COMns1on in compliance with thetr duty in Section 17 of the Chariti¢8 Act 2011. Page I
Ty GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR EM)ED 31 MARCH 2025 AClttEVEMENTS AND PERFORLItANCE Charltable actfvltie8 The principal activities of the Tnt h&ve been the man* and maintenance of Parc yr Esgob ( Bi8hop's Park) and the development pbase of the walled garden restorntion project a8 SUPPOrted by the Nation ttery Heritsge Fund. l L£gal i88ues None 2 Tru8tee8 2.1 There wa8 I change to rnernbep of the Board during the reportin8 year, with the religtion of Joseph A&in in July 2024. 2.2 Board Mting8 were held in ApriL July. August and November 2024 and January 2025. with detailed minutes Torded in the minu1¢ book Additionally. meetitigs of th¢ Board's four SUBroupS (Ri8K MaTk¢tin8, Governance and Funding & Finance) were held durAng the reportti)g year. 2.3 The following TN8tee8 Served a8 officers iti 2024-25: Betsan Caldwell (Chair), Neil Caldwell (Treasurer) and Ann Dorjett {Secretsry). 3 Staff 3.1 Tina MuTphy cotitinu a8 Tnt Mwer with executive rt8ponsibility for th¢ park and 8arden8, worlang 4 days a week and wisted by Sarah Dobgon a8 plt Administrator. 3.2. Blue Barn¢8.Thoma8 continued a8 Frr Head Gardener. 3.3. knise Austin continued in her role a8 Wed garden pn)iect ller oveTreeing th¢ NLHF fimded development pha8e of projsxt and 8ubmi68ion of the full delivery plthae application in November 2024. 3.4 Tore8o Walter8 Anne May continued to job.shr the rok of Con)nllty Engagement Officer for the walled garden projecL a68i8ting Loui8e WAth the NLHF delivery phase bid. 3.5 Yvonne L# continued as trainer on the horticultttral Employability programme fiuthd through the Shared ProsperAty Fund via Carnwtbfflthirc County Council. 3.6 During the period January.March 2025. thcre was a temporary reduclion in the walled gard¢n t£am's number of worlans day& This was due to the ending of NLHF developnient pha0¢ fimding and prior to the outsome of the delivery phase bid being aDllounced. 3.7. Ill addition to stsff, vohmteers An many difftrent roles have conrtinued to play a ¢nla1 1¢ in th¢ work of the Tywi Gateway Tt. These ]lUde gardening, reception, history Meatch. historical costumes and oth¢r8, Gontributing valuabk time to the nMnwent and maintejjawe of the park and supportiDg activities and events. Staff worked with a total of 91 individual volunteers contributed 1955 hours of voluDteer time as part of the walled garden project development pb&ge in 24125. 4 Voluntee 4.1 Following the award of the pr¢8tsgious Kings Award for Voiuttteering Services (KAVS) in autumn 2023. Sarah Edwards vi8ited the park on 13 August 2024 in her role &8 Inrd Lieutenant to present th award at a celebratory lunch for volunt[. Page 2
TYWI GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 4.2 In additio the park re1Ve4 one of the 350 native saplmg8 from the Tree of Trees sculptsre erected outside Bwkingham Palace to celebrate the Queen'8 Platinum Jubilee. The LA)rd Lieutenant returned to Parc yr E8gob on 28 November to attend the tree planting ceremony in th¢ Qompany of volunteer8 and tsu8tee8. 5 The Tywi GatewayProj¢ct 5.1 Due to 8¢veral Capital challeD8e& progress continued slowly towards Gonv¢rting tho lod inlo fy holiday cottagc. When eventually open for letting8, thi8 WAll be a 8i8nifiGant part of the tn& Incon 8eneratioll drive. 5.2. The Pa was aWad VAQAS (Visitor Attraction Quality A88urance Scheme) certifration by Cr0¢80 CfvwVi8it Wales in March 2025, 5.3 Star8 KitcheDJCegin Stacey Continued to develop a8 a succe88fid café and de8titiation opIll8 7 day8 a week from 9-5 daily. The busine88 operates on a le&9ed basis with the trust and fflnploy8 218taff. 6 Partnership, Comiectsw and Funding 6.1. The Joint Workng Group with carn1th County Council (CCC) and Muse met tce in May and July 2024. 6.2 The Shared Pm8perity Fund . Sustainable Communities match fimdiD8 project to support the trust in WOTknng toward8 th¢ walled garden delivery 8tag¢ bid ended iti De¢ber 2024. 6.3 Th¢ filling from the Shared Pr08PaYty Fund for the I1¢tUr trainin8 prngramme eAMled in Delr 2024. 6.4 The funding application to NLHF for the delivery pha8e of the wall¢d gwden proiect, together with the bid to The Pilgrim Tru8t for one of the contiibution8 to n]at¢h fundin8. were both appn)ved in March 2025. FL¥Ai¥CIAL REVIEW Flnanclal posldon At 31 March 2025 th¢ ¢harity had totsl reeerve8 of £1,460,287 of which £1,386,816 were re8tri¢t¢d includin8 £1,312,883 of re81TIct fixed a88et8. The charity had free Therrfe8 of £36.591. PrAndpal fundlDg ioure The NLHF awarded the Gharity an initial grant of £1,274,3Crf) in order to cary oul the Charitys objectives. The TrLlSt 8 also awarded £3(Kl.(M)O by the Local Authority. Thege grants were recognised in the year ended 31 March 2019. In the year ended 31 March 2025 the cbarlty wa8 awarded £114279 from NLIIF- Developrnent phase, £95.921 from Ihe S])ared Prowity Con)munities Fun¢ £47,093 from the Shared Pr08perity EnJployAbility Fund and £19.982 from Award8 for A Page 3
Ty GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTUR GOVERNANCE AIYD MAIYAGKMENT Governillg doeument The charity is controlled by its governing d(unllE a con8tithlio Alld con8tituts8 an incory)mt&l cl)arity which is limited by guarantee. Membcrsbip of thc Trust All member8 of the Tt. the TruBtees. voluntarily contnbute tILeir unpaid tinic and cxperti8e to the charitsbl¢ objects of the Trn8t. The extent of thi8 wntribution is not refiected in the Tn8 fianCi statell1 but the TDJSt 18 heavily dependent upon the 80rrfices and expertise provided by its member8 8erviti8 as ttU8tee8. a8 well a8 volunteers engaged in gardening 8nd other activiti¢8, Re¢tuitmcnt and Appointment of TTU8te¢s All trustees are DMDb¥ of the board. App]ication8 for trustee8knp are sought by advertisement and per80nal rontact. One tbird of Tn retire by rotstion a¢ every onnual gener tIng a8 required by the con8titution and 8ervc for a maximum of three 3.year tem. Key Management Remuneratlon Key maTh1geAllent CO918t6 of the Charity8 manager T1 Murphy. Her 8a]ary ba8 been agreed by the truste¢¥ and sel at rate deemed appropiiatc for the role. Thi8 is reviewed awiually in Au8USt in linc v4ith CPIH inllation figures i&4ued by the Office of Nati¢)nal Statistics. Conlllet of IntereBt Th¢ Tn¢ bas a Tn1¢¢& Confiict of Int¢re8t policy. All trustee8 ¢ompl¢te an annual re8iSter of intere8t and &¢lare any Ghan8es at the be8inDill8 of each board m¢eting. Related Parties There were no relatrd partie8 iti the period of th18 report. R18k Management The Trustee8 have a88e88ed the m&jor ri8k8 to wbich the TN8t is cuffently ¢xpo8ed. in particular those relating to it8 fiDaa¢eB and its opwations (IlUding Healtll & Safety) and they arc satisfied that 8yStems are in place to nltor. reduce and ffjitigat¢ tbe T8 exposure to Such ri8k8. They are also satisfied that a robu8t pmcedure 18 in place for identsfying and evaluating tbe ri8k8 &88ociated with the development of the site, with the Ri8k Register updated as required by th¢ TN8¢8 Rigk Management sub-wp wtiich 18 chaired by one of the Trustee8. Health and $8fety The Tst has a Health and Safety Policy and 8upporting dO¢utatiO It is the Tru8tee8' duty to declare any 8eriou8 incidents that may pose a threat to the TTrc,8 beneficiario 8erYi¢e8, assets or reputation. The TTUStCe8 declare that no 8uch incidents were reported during this reporting period. REFEREIYCE AYL D ADmIsTRAT1VE DETAILS Regtstered Charlty lluniber 1167244 PrlndpAI addresj The Old Bishop'8 Palace AbergMIi SA3121G Page 4
TYWI GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Truitees Mr P Adcr Mr G Bevan Mr8 B Caldwell Dr N Caldwell Mrs A Dor8ctt Mr E Kitshen MTS A Loughran Mr H Michael Cllr S Hugh Mr N Robwts Mr W James MrPapLI appointed July 2025 appointed July 2025 appointed November 2025 appointed November 202J Key 8taff T Murphy MaDa8er (re8igned November 2025) Alldltori Xeinadin Audit Llmitsd Statutory Auditor8 and Chartered Ac¢ounknt8 24 Lamma8 Street SA313AL STATEMENT OF TRUSTEES, RESPONSIBILITIES The tN8tee8 are Te8pon811)le for preparing the Report of the TruJtee8 and the fmanclal statements in accordance with app]icable law and United Kingdom Accounlin8 Standard8 (United Kingdom Genfflally Accepted Accounting Practice). Charity law requiTh the tru8t¢eJ to prepe financial Statements for eacb financial year. Under that law, the trustse9 have elected to prepare the financial Statements in accordanrx with United Kingdom Generally Accepted Accounting Practice (Unitd Kingdom Accounting Standards and appli¢abIe law). Under charity law the trustee8 mU8t not appro the financial Statements unle86 they are 8ati8fied that they give a tTr and fair view of the State of affairs of the charity and of the incon]ing and application of re80urces, including the incom¢ and ¢xp¢nditUTV. of tho thaTity for that period. In preparing those financial 8tat¢nwnts, th¢ tru8teey are required 8elect suitsble accounting poli¢ie8 and then apply th¢m con8i8tentlyJ ob8erve the znethods and principles in the Charities SORP. make judgement8 and estillte8 that are reasonable and pruden(" pryarc th¢ fiDanci81 stst¢m¢nts on the going concern b15 unless it 18 inappropriate to preju that the dwity will ntinue in busine88. The lntee8 are responsible for keeping proper accounting re¢ord8 which di8o108e with reasonable accuracy at any tin the financial position of thc cknity and to enabk them to eJure that the financial 8tatemth Comply the CIwAties Act 2011 The Charity (AG¢i)wtt8 and Reports) Regulations 2008. They are a180 Te8ponsible ftjr safeguarding the a8sets of the ¢l]arity and bence for tsking rwonabk sty for the prevention and detection of fraud and other imgularities. Page 5
Ty GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Approved by order of the boa of trustees oll ,...i.l...-.A.i.,.QoU>... and signal on its behajf by. MT8 B Caldwell- Tntstee Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TYWI GATEWAY TRUST Opinion We have audid tlle fillla1 statenMIts of Tywi Gateway Trust (the 'cJ)arity) for the year ended 31 March 2025 whicb comprise the Ststement of Financial Actsvities, the Balance Sheet and notes to the fiDancial statements. includmg a 8unm]ary of Significant accounting policies. The financial reporting framework that has been applied in their prqyaration 18 applicabk law and UJJited Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting PraGtiGe). In our opinion the financial 8tatements." givc a truc and fair vicw of thc Btate of the chatity8 affair8 as at 31 March 2025 and of its in¢omin8 resource8 and application of resources. for the year then ende4. have betn properly prepared in accordance with United Kingdom Generally Accepted Accountin8 Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. Bas18 for oplnlon We conducted our audit in accordance with Interi)ational Standard8 on Auditing (UK) (tSKg IUK)) and applicable law. Our respOn1]itie8 under tISe standarth are fiwther de8GribeAI in the Auditors, respon8ibilitie8 for the audit of the fUwl&l 8taternej Bection of ow report. We are independent of tILe charity in accordance WAth tbe ethical requirements that are relevant to our audit of the fjnancial statement8 in the UK, including the FRC'8 Ethical staThdA and we have fulfilled ow other ethiml respon7)I11tie8 in accordance with the8e r¢quirenith. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a ba818 for our opinioTL concluonI relathig to golng ¢on¢ern In auditing the financial stateDwits, have conGluded that the truse8' Use of the going Goncern basi8 of accountjng in the preparation of the financial 8tstements 18 appropriate. B&8ed on the work we have perfonlled, we have not identified Any matsrial uncertainties relating to events or oondition8 thal individually or collectively> may ca8t 81gnificant doubt on the clwAty8 ability to Contin a8 a going concern for a period of at least twelve month8 from when the financial 8tstements are authorieed for i88ue. Our re8ponBibilitie8 and the respo]bIlitie of the trustee8 with r¢8P¢¢t to 8oin8 concern are de8cribed in the relevant sections of tbis report. Other Informadon The tru8tees are respon811>le for the other iDformatioL The other inforntiOll Compri8 the infornv4tion included in the Annual Report, other tban the fjnancial 8tstements and our Rert of the Independent Auditors thereon. Our opinion on the financial 8tstements doe8 not rover the other infornjation and. except to the extent otherwlse explicitly 8tated in our repo¢ we do not expre88 any forni of 868urance conclusion In conntiOn with ow audit of the financial Btstementy our respon8thility is to read the other inforn)ation and. in doing 80, consider whether the other infornMtion 18 m&tsially inconsistent with the fllwKial 8tatements or our knowledge obtsined in the audit or OtEWise appears to be materially mijststsd If we identify 8uch nyatsrial inconsistencies or apparent n)at¢rial mi88tatementy we are required tr) deterni1 whether thi8 gives rise to a nMterAal misstaternent in the financial 8tatemmts th¢llwlv¢g. If, ba8&1 on the work we have perfonrt we conclude that there 18 a material mi88tstement of this other lnfonnati0 we required to report that facL We have nothing to report in tbis regard. Matters OD whlch we are requlred to report by excepdon We have nothing to report in respcct of the following matters wherc the CharAties (Accounts Re} Regulations 2008 requitts u8 to report to you if, in our opinion: the informAtion given in the Report of the Trusteej, is inwn8ist¢nt ill ally material ffspect with the fu1&1 statements; or sufficient accounting records have not been kept. or . financi statements are not in agreematt with the accounting records and r¢twn4' or we have not reccivcd all tbc information and cxplanations we require for our audit. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TYWI GATEWAY TRUST Re8poDJibilitiu of trustee8 As explained filY in the Statenth of Tn]stees' RponsibIlItieS, thc Irustee8 are responsjble for the preparation of th¢ financial statements wbiclL ve a true 8lld fair view, and for intrynal c()ntrol as the tnwtees deterniine is nece8Wy to enable the preparation of fmancial statements that are free from m&t¢rial misststement. ether due to fraud In preparAng th¢ financial statements. the trnstee8 are res51ble for assessing the charitys ability to continue a8 a going oncern. disclosing, &8 appJicabl4 matters related to going coern and using the going concern blS of accounting unl¢88 the trustee8 eithw ititend to liquidatc the charity or to ce48e opera¢ion8, or have no realiBtic altcrnative but to do so. Page 8
REPORT OF THE INDEPEI¥DENT AUDITORS TO THE TRUSTEES OF Ty GATEWAY TRUST Our re8ponglbllitle8 for the Audit of the financlal statements We have been appoint&l &8 auditors under Section 144 of the Charities Act 2011 and report in cordanCe with the Act Our ob]tiVeS are to obtsin reasonable a88urance about whether the financtal statements a8 a vthole are fre¢ from matsriai misstatenL whether due to fraud or em)r. and to ig8ue a Report of the Independent Auditors that includes our opinion. Re48onable assurance 18 a lllgb level of assurance. but is not a gu8rantee that an audit conductsd in aOrde with ISA8 (UK) will alway8 detect a material mi88tatement when it exists. Mi88tatements ¢an ari8e from fraud or error 8nd are considered Material 1£ indivAdually or in the aggregate. tlw coum reasonably be expected ¢0 intlu¢ the economiG decision8 of u8er8 taken on the ba8is of the8e financlal 8tatem¢nts. The extellt to which our procedurc8 are capable of dets¢ting irre8ularAties, including fraud 18 detailed below. Extent to T¥hleh the 8ll4llt WA• ¢on•ldered capable of deteetlng Irre8ularitieitr Includlng frAud We identify and assesg the ri8k8 of material mi88ts1ernent of the fJnanGial 8tstement& whether due to fraud or error, and then design and p6rf0rn7 audit procedure8 respon8ive to tbo8e ri8k8, including obtalning audit evidence that 18 sufficient aad appropriate to provide a ba818 for our opinio Idendfylng and a58 potsntlal rl•kJ related to IrreglllarAtle8 identifying and a86e88iDg ri8k8 of Materi misstatenient in ryct of irr¢8u]arAtieB, includiD8 fraud and non.complian¢e with laws and regulations, we ¢onsldored the following: . the naimwe of tbe indv8ty and sector. control environment and bu8ine88 perfornwnc¢ inGludin8 the de8ign of the Charity5 rellwneration policie8 and peornllec targets: - re¥ults of our eDquirie8 of Managenlt about their own identtfication and &88essment of the ri8k3 of irregthitie8; . any matters we identified haviDg obtained and reviewed the Charity8 doCuntion of their policies and proGedure8 rejatillg to.. - Identify evaluating and complyin8 WAth Iftw8 alld re8u]ation8 and whether they were aware of any in8tance8 of non¢oDwliance; . detecting and responding to the ri8k8 of fraud and whetber they have knowledge of Any a¢tt]aL 8U8pected or alleged - the inten1 control8 eBtsblithed to mitigate risks of fraud or non<0mplian with laws and regulatio. . the matter8 di8CU88ed among the audit engagement team r¢gardiD8 how and thre fraud * occur in the fmancial statcments and any Potenti indicators of fraud. AB & result of these procedure8, we con8id¢red the opportunities and incentive8 that Iiiay exi8t wltbin the or88nisation for fitud and identified the teSt potential for fraud in relation to revenue recognitioTh In common with all audits und ISA8 (UK). we are also r¢quired to perforni 4)eGifiG prwdures to respond to the risk of ll8Ment override. We al80 obtained an uader8ta* of the legal azLd regulatory frameworf(s that tho Chwity operate8 ify focusin8 on provi8ion8 of th08e law8 and regulations tbat Iwd a direct effect on the deterion of material IUnts and disc108ures in the financial 8tatements. The key laws and regulatioll8 we considered in thi8 context included the Chw7tie8 Act 2011. In addition, we con8idered provision8 of other law8 and regulations that do not have a direct efftct on the finanoial 8tatements but Compliance with which may be fundanMtsI to the Clwity8 ability to operate or to avoid a material penalty. These included compliance with Health and Safety legi8latio4 Employment ie8i81atson and Data protection laws (in¢luding General Data Protection Regulation (GDPR)). Audlt respon to rlsks Idenlified As a re4ult of performi the above, we idcntified revenue reColt10n 88 a key audit matter relat tt) the poten¢ial risk of fraud. Our procedures to respond to risk8 identified included the following: . revieThillg th¢ financial statement di8closures 8nd tt8ting to 8upporting do¢untion to a88ess Complian with provisions of relevant laws and regulations drllbed a8 having a direct effeth on the financial ststenwnts. . Carrying out waJkthrougb. transaction testing or proof in total on all material income and expendith strean . enquiting of managernent concerning acts1 and potenti iiti8ation and claims; Pagc 9
REPORT OF THE INDEPENDENT AIJDITORS TO THE TRUSTEES OF TYWI GATEWAY TRUST . perfomiitig anal¢al procedu8 to identify any Unu Oru relationship8 that may indicate risks of marial misstatement due tr) fraud. . reading minutes of rnectings of those Gbar8ed with governallce and the 8enior management te . In addre88in8 the nsk of fraud througb maaagement ovfflride of controls. t&8lin8 the appropriatenes8 of jOWDal cntrics and other adjv8towts: a88e88ing whether the judgements made in maknn8 accouriw estin)ate8 are indicative of a potsntial bia8. and the business rationale of any significant tran8actions that are Ullusu or outside the normal course of b81A¢S8. We algo conu¢teA relevant identified lawj. regulation8, and pot¢ntial fraud ri8k8 to all engagement team men and rernai alert to any indication8 of fraud or DonMpliance WAth law8 and regulations throughout the audit. A description of our re8pOnbIlItie8 foT the audit of the fu)ancial statements 18 located on the Financial Reportin8 Council's website at www.frc.org.uklauditorsr¢8ponsibilities. This description forn part of our Report of the U8e of our report This report 18 made 801eJy ts the clwitrfg thtee8, as a body, iti a¢¢0[dae with Part 4 of the CharAties (Accounts and Report8) Regulations 2008. Our audit work h88 been undertaken 80 that w¢ might 8tate to the charitys trnstee8 th08e matteTh we are required to 8tste tr> them in an auditor8, report and for no other purpo3e. To the fieBt extent perniittcd by law, we do not Gept or a88ume responsibility to anyone other than the charity and the Gharity8 trustees a8 a body, for ow audit work for thi8 report. or for the Opinio we have fornwLL knJ. 4J,l a,kl Xeinadin Audit Limited Stattitory Auditor8 Charred Accountants 24 LaDll Street SA313AL Page 10
TYWI GATEWAY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 Total 31.324 Totsl Unrt8tricted Re8trACted Notes INCOME AND ENDOWMENTS FROM Donations and Icgaci 16.946 277,275 294,221 197,949 Other trading artivitie8 35,170 35,170 27,121 Total 52,116 277275 329391 225.070 EXPENDITURE ON Rai8ing funds 2,688 2,688 3,360 Cblrltsble aetlvld Project expenditure 135,907 209,316 345,223 318,250 Total 138,595 209,316 347,911 321,610 NET llYCOMFJ(EXPENDITURE) TranJfen between fulld8 (86,479) 48,498 67,959 (48,498) (18J20) (96,540) 13 Net moveDient In fundi (37,981) 19,401 (18J20) (96,540) RECONCILIATION OF FUNDS Totsl funds brought forward 148,165 1,330,642 1,478,807 1,575,347 TOTAL FUNDS CARRIED FORWARD 110,184 1.350,103 1,460,287 1,478.807 The notes form part of these fllmncial stat¢m¢nt8 Pagell
TYWI GATEWAY TRUST BALANCE SHEET 31 MARCH 2025 31.3.25 Total 31.3.24 Totsl Unrestricted Restricled Notes FIXED ASSETS Tangible a88ets io 36,880 1.312.883 1,349.763 1.279,032 CURRENT A&SETS DebtOT8 Cdi at bank and in band 11 12.614 66.759 12.614 110,074 104,614 126.383 43.315 79.373 43,315 122,688 230.997 CREDrroRS AmowLts falling du¢ witbin one year 12 (6,069) (6,095) {12,164) (31222) NET CURRENT ASSETS 73.304 37,220 110.524 199,775 TOTAL ASSETS LESS CURRENT LIABILITIES 110,184 1,350,103 1,460,287 1,478,807 NET ASSETS 110.184 1,350,103 1,460.287 1,478,807 FUNDS Unrestricted fund8 Restricted fund8 13 110,184 1,350,103 148,165 1,330,642 TOTAL FUNDS 1.460.287 1,478,807 Th¢ finwKial 8tstem¢nts were approved by the Board of Thth¢8 and authorised for x88ue on and were on its behalf by. Mr8 B cdWell . Tru8tee The notes form part of tIse fmancial 8¢a¢em¢nts Page 12
Ty GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STATUTORY INFORMATKOIY Tywi Gateway Ttust 18 a Charitable Inwrporated Organisation. The principal addre98 cun be found in the Report of the Tntstre8. The financial statements are presented in sterling (£). the charAtys fuJKtioDal currency, alld rounded to the neaSt The priticipal activiiMe8 and nalure of the charitys operations 18 to promote for the benefit of the public Parc yr E88oblBi8hop'8 Park and its cultural setting in Abewwli the Conser protection, in)prov¢ment and undffl3tanding of the build a] naturnl environments. The 8ignifA¢qnt accounting policie8 8m)Iled In the prepArntion of the8e fmaucial 8tstements are Aet out below. The8e policies have been applied consistently to all year8 unle&9 otherwA8e stated. ACCOUIYTING POLICIES BASIS OF PREPARllYG THE FllYANCIAL STATEMENTS The fmancial 8tatements of the charlty, wbich 16 a publi¢ benefit entity under FRS 102. have been prwed in aordanCe with the Charitie8 SORP (FRS 102) 'Accountmg and Reporti by Clwitie8: Statement of RecomnCd Practice applicable to chltieS preparAn8 their accounts in accordance with the Financial Repoiting Standard applicable in the UK Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 Tr Flnancial Reporting Standard applicable in tkn UK and Republic of Ireland, and the Charitie8 Act 2011. The financial statements have been prepared under the biBtoricai cost convention. There ale no nMterial ertaintse• about the charitys ability to continue, a8 8ucb the finall¢ial 8tatements have been prepared on the going ¢on¢¢m ba818. COME All income 18 rKosDi8ed in the Statenient of Flnanclal Activities once the charity ha8 entidement to the fillMI8. It 18 probable that the iticotiTr be received md the amount ean be nrA8ured reliably. Liabilities are recognised as exdItre a8 Boon a8 there is a legal or constructive obligation committing the cl)aTity to that expenditt]re. it i8 probable that a trhnsfer of economic benefits 11 be requlled in 8ettlwnent and the amount of the obligation can be no8red reliably. Expenditure 18 accounted for on an accnjals ba818 and ha8 b¢ell ¢lJ36ified unts hcadin88 that agEats all c08t related to the categL)ry. w1C c08ts c8nnot be directly attributrd to particular headiDg8 they have been allocated to activities on a ba818 ¢on818tent with the use of TANGIBLE FIXED ASSETS Deprcciatioll is providcd at the followiDg allnual ratcs in order to write off each a58et over it8 eiMated u8eful Long leasehold Plant and machinery Straight line ba8is over the lease terni 33.330/0 on cost and 150/0 on reducing balance TAXATIO The charity is exempt from tsx on its charltable activities. FtiThD ACCOUNTL¥G UnK8tricted fimd8 can be us¢d in a)rdance with the charAtabk objectives at the discretAon of the tsv8tses. Page 13
TYWI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS- eollthiued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES . eODthiued FUND ACCOUNTING Restricted funds can only be used for particul restsicted pU&¢j Witbin the objects of th¢ Ghllty. RestrAction8 arAse 8pecifieAI by the donor or when fiuLd8 are taigcd for particular re8tsiGted purpo8e8. Further exp]Aoation of the Atre and purp08e of each fund is inGhMled in the JK)te8 to the financial stateD)ents. HtRE PURCHASE AND LEASING COMMtTMENTS Rents18 paid under operating lea8cs are cbarEed to the StatenKnt of Financial Activitie8 on a 8trai8ht line ba818 over the period of the lease. PENSION COSTS AND OTHKR P0ST.RETIREm BEi¥EFITS The Ghatity operate8 a defined contribution pension scheme. Contribution8 payable to the charl& pension 8GhenK are Charg to the Statement of Financial A¢tivitie8 ill the period to which they relate. FllYANCIAL INSTRUMENTS Th¢ ¢harAty only ba8 fuwwial a88ets and financial liabilitie8 of a kind that qualify a8 basic fmancial instrunnts. B&9ic fin11 in8trument8 are initially recogni8ed at transaction value alld sub6equently mcasured at (heir 6¢trIenrt value. DONATIONS AND LEGACIES 31.3.25 31.3.24 Donation8 16,947 277,274 9,292 188,657 29422 I 197.949 Grants receivrf included in the abovc, are a8 followB'. 31.3.25 31.3.24 People's P08tcode Lottery Sharcd Prosperity Fund. Employability Fund WCVA National Lottery Heritage Fund - Development Pbase Shsred Prosperity Commwties Fund Stq)s to Su8taiDability Other grants 25,000 22.183 774 89,530 39,980 11,190 47.094 114,277 95.921 19982 277.274 188,657 Page 14 con¢inu¢d...
TYWI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS - conthiued FOR THE YEAR ENDED 31 MARCH 2025 OTHER TRADINGACThVITILS 31.3.25 31.3.24 Fundraisin8 events Venue hire Cafe hi Vegetable 8ak8 117 1,973 27.058 6.022 889 2,152 20269 3J53 458 35,170 27,121 SUPPORT COSTS Governance ¢osts Management TotalB Project expenditure 52,028 5J55 57,383 AUDITORS, REMUNERATIOIY 31.3.25 31.3.24 Fees payable to the chaTAty8 auditor8 for the audit of tlLe cbarity$ fillla1 ststements Other non-audit 8etvi¢e8 5,355 4.750 3,500 TRUSTEESI REMIJNERATION AND BENEFITS There were tru8tee6' remurntion or Oth bfitS for the year ended 31 March 2025 nor for the year end¢d 31 Mar¢h 2024. TRUSTEES, EXPENSES There were no Intee8, expen8eB paid for the year en1 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS 31.3.25 31.3.24 Wages and sa]arie8 Social secwity costs Other pen8ion costs 142.295 6,500 6.293 132.738 5.796 5.337 155,088 143,871 Page 15
TYWI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEARENDED 31 MARCH 2025 STAFF COSTS- ¢onthiued The average nKJnthfy number of ellyloyee8 during the year wa8 ai follows: 31.3.25 31.3.24 MaDager Project Staff No employee8 received emoluments in ex¢e8s of £60,000. The totsl reinimOll benefits pd to key njanarnt p¢r80nn¢l during the year were £34,177 (2024: £35,572) COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unre8tri¢tsd Re8tri¢ted Toial llYCOME AND ENDOWMENTS FROM Dollatio and k8acie8 35,065 162,884 197,949 Other tradiD8 tiVItieS 27,121 27,121 Totsl 62,186 162,884 225,070 EXPENDITURE ON R]ng fundB 3,360 3J60 Charltable actlvltl Project expeDditur¢ 80235 238,015 318250 Total 83.595 238,015 321,610 IYET ThICOMEI(EXPENDITURE) TranJfeTh between fundi {21,409) 27,248 (75,131) (27,248) (96,540) Net movenwit th fun 5.839 (102.379) (96,540) RECONCILIATIOiY OF FiJNDS 142324 1,433,023 1,575347 TOTAL FUNDS CARRIED FORWARD 148.163 1?30.644 1,478,807 Page 16
Ty GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 io. TANGIBLE FIXED ASSETS L4)ng Plant and kasehold machinery Tota]s COST At l Apnl 2024 Additions 1,422.578 123,161 45249 1.467,827 123.161 At 31 March 2025 1.545.739 45249 I J90,988 DEPRECIATION At l April 2024 Charg¢ for ycar 154,977 51,526 33.818 904 188,795 52,430 At 31 March 2025 206,503 34,722 241225 NET BOOK VALUE At 31 Marcb 2025 1,339,236 10,527 1,349,763 At 31 March 2024 1.267.601 11,431 1,279,032 11. DEBTORS: AMOUNTS FALLING DUE WtTHllY ONE YEAR 31.3.25 31.3.24 Trade debtor8 Grant debtor VAT 9,917 5,914 87,886 9,613 1,201 2.299 398 12.614 104.614 12. CREDrroRS: AMOUNTS FALLING DUE THIN ONE YEAR 31.3.25 31.3.24 TThde creditor8 1998 2,972 1.157 27.093 10,166 12,164 31,222 Page 17
TYWI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 13. Net between At 31.3.25 At 1.4.24 Unre8trleted fun 148,165 (86,479) 48.498 110,184 Rejtrlctsd fund• NatioJ)al Lottery Heritage Fund Natiojjal Lottery Heritage Capital 36,713 (36,713) 736,724 (30,823) 705,901 307.641 82,570 (11,672) (3.103) 295,969 79,467 ENRaW Capital fund Rural Development Prograrnll Fund Capital fimd HSBC UK Fund SPF Employability Fund Steps To Su8tainabilty National Lottery Herltage Fund. Dev¢lopment Pha8¢ Shared Prosperity Con)tnunitie8 Fund Shared PrnBperity Community Fund . Capital NatiODd Lottery development Pha8e . Capital expenditure Awards for All 100.696 9,510 2,465 3,912 (3,828) (7,521) (1,019) (2,288) 96,868 1,989 (1.446) 15,388 17,012 7,844 28,114 41,856 72,802 (49,700) (100.916) 1,212 (3,276) 97,002 94,938 13,241 (1,387) 18,218 27.887 39.741 18.218 I J30,642 67,959 (48.498) 1,350,103 TOTAL FUNDS 1.478.807 (18,520) 1,460,287 Page 18
TYWI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 13. MOVEMEI¥T n¥ FUNDS . conthiued Net movement in funds, Inclu in the above are as follows: Incon]in8 Rwurce8 m0venllt Unrestrlcted fund• General fimd 52,116 (138,595) (86,479) Restrlcted fun National Lottw Heritage Fund Capital (30.823) (30.823) Carmartknshire County CounGiI C8pitsI fimd ENRaW Capital fimd Rural Developnwit Pro8ramme Fund Capital fund HSBC UK Fund SPF Employability Fund Steps To Sustainabilty National ery Heritsge Fund. I)evelopment Phase Shared Pr06p¢rity Con]murritie8 Fund Shared Pr08perity Commurrity Fund. Capital NatiOll Lottery dev¢lopm¢nt PhaK . CapAtal expenditwe Award8 for All (11.672) (3,103) (11,672) (3.103) (3,828) (7,52 l) (48,112) (2,288) (3,828) (7J21) (1.019) {2288) 47.093 114279 95921 (72,423) (23,119) 41,856 72.802 (3.276) (3,276) (1,387) (1.764) (1.387) 18218 19,982 277,275 (209,316) 67,959 TOTAL FUNDS 329.391 {347,911) (18,520) Page 19 continued...
TYWI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 13. MOVEMENT lly FUNDS. ¢ontlnued Comparatlve8 for movement In funds Net Transfer8 At 31,3.24 At 1.4.23 in funds fimds UJwe8ttdcted fuJM 142.324 (21,407) 27.248 148,165 Restrleted fwidl National HOrI8¢ Fund National Lottery H¢ritage Fwld Capital 110,405 (70.384) (3,308) 36.713 764.211 21,742 (30,795) 3.308 (21.742) 736,724 Carmarthen8bire County Council Capital 308.289 86227 (12,487) (3,103) 11.839 (554) 307,641 82.570 ENRaW Capital fimd Rural Dev¢lopment Prograrnme Fund Capital fiwd NLHF . 15 Minute Heritage Fund Third Se¢tor Re8ilienrA Fund HSBC UK Fund SPF Employabijity Fund Sty To Su8tainabilty National Lottery Heritage Fund. Developnmt Pha8e Slw¢d Prosperity Comnwwtie8 Fund Sbared Progperity ComtnuDityFund- Capital N41ional Lottery development Pba8e . Capital expenditure 107,245 1,003 5,911 27,990 (6,549) I,696 (1.003) (5,911) (11,229) 2,465 10,721 (7251) 9,510 2,465 3,912 (6.809) 22,435 30262 (14,591) (2,148) 7,844 28,114 {72) 1284 1212 (486) 13.727 13241 1,433,023 (75.133) (27.248) 1,330,642 TOTAL FUNDS 1,575.347 (96,540) 1.478,807 Page 20
TYWI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR EI¥DED 31 MARCH 2025 13. MOVEMENT IN FUNDS . contlnlled Comparntive net movement in fjJnd6, included in the above are a8 follow8: resources Unregtrlcted fun General fund 62.186 (83,593) (21,407) Re8trActed fund• N&tionBI Lottery Heritsge Fund Nation LL)ttery Heritage Fund Capital (70.384) (70,384) (30,795) (30,795) (12,487) (3.103) (12,487) (3,103) ETr]RaW Capital fund Rural Developttlt Programnke Fund C&pitsl fund Third Sector Re8iIieJC Fund HSBC UK Fulld SPF Employability Fund Steps To Su8tsinabilty National L4)ttery Heritase Fund. Development Ph&ge Shared Pro¥perity Communitie8 Fund Shared Prosperity Conunwty Fund. Capital National development Phase. Capital expenditure (6,549) {5,911) (11,229) (19,718) (469) (6,549) (5,911) (11,229) 2,465 10,721 22,183 11,190 89,531 39,980 (67,096) (9,718) 22,435 30262 (72) (72) (486) (486) 162,884 (238,017) (75,133) TOTAL FUNDS 225.070 (321.610) (96,540) National Lottery Heritsge Fd . 'fhe National Lottery Heritsgc Fund haa awarded thiB grant for the the project including consetvjtion works, acce68 improvements, new capAtal works. Na¢loJ1 IA)ttery Heritsge Fund capital fund . This fund coll8ists of assets purchased u8ing National Lottery Heritage Fund 8rant income, on which re4trAction8 slill exxst. County Council grant into, on vthich re8triction8 Still exi8L ENRaW Capitsl fulld- Thi8 fimd ¢onsi8ts of a88ets purchased using Ef4RaW w incon, on which restrActions still exist. Rural Development Fund Capital fund . This fimd consists of assets purc1ed using RDCF grant incorn. on which Trstrictions still exisL HSBC UK Fund. Funding received towards access InrOVeMents including path resUrftng and the purchase of an all-terrain mobility 8¢00ter. Page 21
TYWI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 13. MOVEMENT IIY FUNDS . conthiued Sha1 Prosperity Employability fiu . the fimd8 were received to onloY an additional skilled and qualificd horticulttwal train¢r/gardener. wwk with the TnLqV8 illg Officer. from O¢lob¢r 2023 to December 2024, to 8UPPOrt horticultural voluntecring opportunitics forpeople with a rhnge of abilities and 8kill8. Stq>8 to Sustainability 18 fundin8 awarded to help 8UPPOrt the organi8ation to reduce caTbon emissions and adapt to ¢lillwt¢ ¢haD8e by developing skill4 changing behaviour and promoiing wider Sustaible d¢v¢lopment. 4LHF . D0velopnllt Phase . This 18 to 8UPPOrt the development and re8torntion of the Walled Garden to bring the garden to a Safe 8pace for visitors to use. Shar¢d ProsperAty Commut)itie8 Fund . This is to SuPrt the development and tt8toration of the Walled Garden to bring the garden to a Safe 8pace which will increa8e phy3iral ond intellecthal a¢ce&8ibility to the walled sarden brin8in8 new vi8itorn to Bi8hop's PaTk Award8 for All. This 18 fiwding to 8UPPOrt the Natures Nurture ProjecL TRANSFERS BETWEEN FUNDS A transfer of £15 J88 wa8 made fmm the general fimd to the Step8 to Su8tsinability fimd in re8pect of additional ¢08ts relaw to this projert, A traD8fer of £21,813 was made from the NLHF Development Phase fimd to the General fimd in respect of addition ¢08ts a880¢iat¢d with thi8 project. A transfer of £97.002 wa8 rnade from the Shared Pr08perity contintt¢S Fund to the General fimd in respect of fixed a88ets purclwed where rcstrA¢tions still exist. A transfer of £27.887 was made from th National LAJtt¢ry Heritage Fund -Development Pha8e to the NLHF Development Pha8e Capital fid in respeGt of fixed assets purekned on vA]ich re8tri¢tion8 81ill exist. A tran8fer of £1,446 was made from the SPF Employability to the geml fimd in respect of expenditur¢ a&80CiAted with this project. A transfer of £3,914 wa8 made from the Shared Pr08perity Commuthes Fund to the general fund in r&8PCGt of exprnditure a680¢iated WAth tbis project.. A tran8f¢r of £36,713 wa8 made from the National Lottery Herithge Fund to the general fuJMI in respect of oxpendith a88ociated with this proj¢Gt.. Page 22 continued...
TYWI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2025 14. EMPLOYEE BENEFIT OBLIGATIONS The charAty pays into a defined contribution pension scheme tor its employe¢8. The p¢n8ion cost charge reprts contributions paid by the cl)arity to the fimd and anullted to £6.292 (2024: £5J36). At the year end 31 March 2025 £Nil (2024: £1.157) of pension contributions remained outstanth8. 15. RELATED PARTY DISCLOSURES Th¢r¢ were no relatsd party tran8Action8 for the year ended 31 March 2025. 16. ULTIMATE CONTROLLING PARTY tinwte ¢oJitrol is exaGi8ed by th¢ Board of Trust¢¢8. 17. LIABILITY OF MEMBERS Each memberfs liability 18 limited to £5 on winding up of the Trust. Page 23