SAM CYMDEITHAS ELUSENNOL YNYS MON ADRODDIAD BLYNYDDOL i Hydref 2022 - 30 Medi 2023 ANNUAL REPORT i October 2022 - 30 September 2023 cyrnd￿1has EIu5ennol Ynys Mon Cale of Isle of Anglesey County Council Council Offices LLANGEFNI Ynys Mon LL77 7TW Cymdwthas Elusennol Ynys M¢in Care of Isle of Anglesey County Counul Council offices LLANGEFNI Ynys Mon LL77 7TW Regisler•J Charity Number 1174536 GALA MINI Twst Oeed The Isle of Anglesey Charitable Twst (Regislwed Charity No i(￿0818) was forn￿1 on 5 June 1990 and the Trust deed of thal date specifies the duues. power5 and condib.ons undw which Ihe Trust L% requiied to operate Tl* assets ol the Isle ol AThJlesey Charrtable Trust were transferred to Cymdethas Elusennol Ynys Mon on i ct10￿ 2019 (Registered Chanty No 11745361 The Trustees for the year endiThJ 30 09 2023 were as foUow& Name C* Edward Jo (Chairl Elw Jo AppJnled Trustee 30 Sepleml)ef 2022 Det(•rah Chafer App>nted Tfustee 30 September 2022 Ann To)ze Apwinted Trustee 30 September 2022 Dr Lowri Hughes Winled Trustee 30 Septemiw 2022 Trefor fven Appointed Trustee 30 Septernter 2022 Trefor Lloyd Hughes Eltxted Trustee 26 July 2022 Non Oafydd Elected Trusiee 26 July z022 Dafydd Roberts Elected Trustee 26 July 2022 Newue Evans Elected Trustee 26 July 2022 Jackn"e L￿15 Elected Trustee 26 July 2022 Gary Prjlthard Elected Tfustee 26 July 2022 Date of Intment ApFanted Trusiee 30 SepltNnl)ef 2022 Tern 3 years 3 years 3 years 3 years 3 years 3 years 3 years 3 years 3 years 3 years 3 year5 3 year5 Officers ch￿ Executsve Acting Treasuier Mrs CeLyn Menai Edwards Mr Marc Jones Ad¥1sry5 The of CIO during the we Auditor and Accountsnts Messfs WJ Matthews & Son Chartered Accountants 11 - 15 Bridge Streel Caernarfon LL55 th8 Investment Marogers SBC Prrvate Bank IUIO Limited 78 Jan￿'S Slreei London Swth LJ8 consuitsrw coop LLP 37 Cardiff Road nas Powys CF64 4DH Geldards LLP 4 Capitsl Ouarter TyrKJall Street Cardiff CFIO 4BZ The trustees present th•r report and financial ststements for CynKl•thas Elusennol Ynys Mon Ihe year ended September 30 2023 The financial 5tstements have been prerkired in accordance with accounb'ng wiicie5 and comply Vhth the Charitses Act 2011 and Accounbng ar￿ Rep)rtsng by Charibes Statement of Recommenced Practice appiKable to Charities prepaiing Ihwr financol staternents In accordance with the Financial Reportsng StarKlard appb'cable In the UK and RepubiK of Ireland IFRS 1021 GOVEANAN STRucfuR AND MANAGEMENT cyrnd￿thaS ELusennol Ynys Mon was registered as a CharitalAe Incorporated Organisatson I'CIO'I on 06 September 2017 (registered charity number 11745361 On oi Iktober 2019. the CIO rec￿Ved the assets and undertakings ol a predecessor chafltable trusL "The Isle ol Anglesey Charilable Trust" arKI commenced ts charitable ￿￿VIbeS fTom thal date The Iste of Anglesey Chafitsble Trust was eStab￿shed by the Isle of Angle5ey Borough CounciL a foTerunner oftheC(yJnty CounciL lo administer investments purchased from monies re￿Ved from Shell (UK) Limited when the company ceased to operate an QI Terminal on Angtesey The monies from Shell IUIQ Limited were received under a wivale Act of Paftsamenl - The Anglesey Marine Terminal Acl 1972. which placed a duty on ihe cour￿¢1 to 'use the rr￿)n￿S solely in the interest of the Island of Anglesey or its Inha￿"1ants. The same objects of the onginal trust deed apply to the CIO io this day The onginal trustees of the CIO heid ex-offKiO posiljons. automatically assuming their roles UF)on being eLecte(J as local councillors of Isle of AThJlesey County CounciL Recconising a l¥k of divwsty arKI Folenbal risks regardiThJ cOnf￿Cts of inlefest. Trustees unanimously agreed on 27 January 2022 to adopl a meM1￿rShiP governance structufe alm￿￿ at safeguarding the fund for future gWat￿n$ The new consbtutjon came Into effecl on 24 May 2022 The CIO Trjw operates under a two.tw g0vemar￿e syslem a Membership and a TnJstee Board. The Trustee Board compnses indiwduais selected for th*r r•)ssession ol the skilLs, attn'bules. and knowledge necessary lo ensure Ihe CIO continues to fulfill its charitsble obiectsves Six Trustees are elecled from within U)e Membefship (Elected Trusleesl. while the rwnaining six. irKluding Ihe Chair. are apw'nted thiotsgh an open. transparent. arKI pubbc rKruitment prcKess IApwinled Trusleesl Memlwshlp ol the chanty Is open io anyone who wishes to further its objectives. with individuals Interested In supportsng the chanty's misS￿n in¥Ated lo become members Members p￿Y a pivotal role In the CIO'S govefnènce by electing and appointing Trustees. scrutsnizing Annual Reports. and ensunng the cOnstitut￿n remains relevant and effecbve They convene with the Trustee Board annually to luifil ihese resp0nsits￿t￿ Members can vole on resoiutsons at a general meetsng or on vmtten resolutsons Any new trustee is fuuy ￿lered ￿ the history of the CIO. and ts objectsves and plans. as weiL as the management and QFerabonal processes The trustee5 are encouraged to attend any courses which they feel are reLevant lo the development ol thwr role. and to keep up to date on any change5 In legislation The trustees arKI stsff keep thar skiii requirements under rewew and subscribe to chafty law and guKlance Each Trustee is apF*Jnle(I for a tem of three years A record of the ehafity trustees for the year ending 30 Septemter 2023 Is outhned on page 2 The day-to4ay managemenl of ihe CIO continues to be delegated to the current Chief Execubve. Mrs CeLyn Menai Edwards. who was appointed In September 2021 Mr Marc Jones. S￿lI0n 151 Officer of the Isle of Anglesey County Council lulfils the role of Acting Treasurer for the CIO With his significant Involvemenl as Treasurer duiing the administration of the original lsie of Anglesey Chantsble Trust and the subsequenl 35sel transfer to Ihe current CIO. Mr Jones bnngs Invaluable experience to the positjon Considering the ongoing g0Vema￿e. administrative. and managemenl changes within the chanly. Twstees agreed to retain the servTh of Mr Jones as Athng Treasurer. The responsiblibes of the Chief Execuiwe and the Actsng Treasurer will undergo pericKIic Teview to ensure they remain aligned with the evolving needs of ihe CIO The trustees are ulbmately reswnsible for the ￿[￿les. aCtI￿￿e5 af￿ assets of the charty. Full m*tsngs a￿ heid at least three times a year lo remew strategy. grant appwtions. grant- and owau performance ofthe Cio. The CIO has three sububbc of Ireland IFQS1021 (effective i January 20191 - (Charilies SORP IFRS10211. Ihe Financial ReportiThJ Slandard applicable In the UK and Repubit of Ireland IFRS1021 and ihe Charrty's d*J and appbcable law CyrTththas Elthennoi Yrys Mi?n meets the FRS)02 definit￿ of pubiK Interest entity Assets arKI Iwbiuties are recorde(I In Ihe accounts at historical cosL unless have been reststed In accordance wth a relevant accounbrwJ pobcy Grnnts Payabte are recognised In the accounts when ihe auocab.on has been appioved by Cyrndeithas Elusennol Ynys Mtin. and the n￿esSary corvjrtions that enable the furKling are confirmed Investment In¢om• Is Includgj In the accounts. for short lemi deposits and balances - on a daily accrual basis. ror equity - when st¢xks are declared ex-dividend. for rents- in the yeai lo which It related. lor wuectrye furKls a￿1 Incomeon a re￿pts basis. The ¢ydInaryeLeM￿t ol stocks rKwved In ofca5h dwideTrJ is treated as income of the fund {¢h) Expendlturn Expendrture is induded on an aecruats basi£ Costs have tseen attributed to luncbonal categor￿$ In the Stslemenl ol Financial Actsvibes Costs of generatsrvJ funds comprise tIK)se costs direclly attributsble lo Improving. prolecling and marketsng Investment pro￿rtY and the costs ol managing the Investment p)rtfolJo and Taigng investment Income CharitsbLe ex[￿liture comFxises grants to volun13ry and local organisatK)ns and contributKJns to pubbc serv￿eS It ha5 atso Includèj direct expenditure on an historic building and land in Cym(Jwihas Elusennoi Ynys Mons ownefship These are tharged In Ihe year In wh￿tt the decision Is made to offer the grant Where organisauons have been given an IndKatton ol granis payable In a future year. they are noted as Indicative bul not èccrued In the accounts Managemwt aTrJ admin15tratJon comprise paymwts to third Pa￿e5 relatiThJ to the admin15tratw of Cymdeths ELusennol Ynys Mix) Idl Investm•nts The investments of cYMd￿lhaS Elusennol Ynys Mon have been valued al middle market price5 at the close of business at the balance sh￿l date. except collerbve Investments. wh¢h are valued al bid price Gains and Losses on disposaland revalual￿n of Investments are charggj or crediled to the Stsiemenl of Financkal Actiwt*s Idd) InV•stm￿t Propwty See note 7 to the J¢¢ounts (e Funds The nature arKI puwrw of each fund are expiaingj In note Preparntlon ofthe accounts on a golryj concern basls: The trustees are ofthe view that the charily has sufficienl lunds In resèrve and that Ihe charity Is a going concern INVESTMENT INCOME Atrnosl all the CIO s Income arises from the investments held by Investment Managws. r fees dewid on Investmenl perf0rrnan￿ and Income Is projected net ol fees The total irKome on investrwits for the current was £375.028. COST OF GENERATING FUNDS These are the costs of rnanaging the irwestmenl proFety and the Investment Managers. 30 S•pt•Trknr zoz2 Investment Managws. Fee 103.153 8300 107 122 103 153 REMUNERATION & RELATED PARTY TRANSACTIONS None of the trust￿S lor any persons connected with them) recwved any remuneration or benefits from the charity during the curient or prior year Trustee5 were rambursed a totsl ol £s4 65 (2022 - £0) for expenses incuffed in the course of Ihwr dubes during the year Expenses include costs incurred when visiting grant a￿￿￿nts as part ofthe trustees. g)vernance procedures. GRANTS 8eiow is tt*% direct chanlabLe exFeThJrture by cYm￿"tha$ Elusennol Ynys Mon 30 S•p2ozz Jo S•p 1025 lthof ArvJl•w CC- Cmei Ynys M 215.( 47.861 57.893 Volunw Ctrgoroot . VIlL49e Hall *urYMry Casts 464274 Mon -Urdd CEiard05p)salc4 Iu22.$441 ILS25276) .￿5081 Totsl fu￿15 brcxohl Iward i CttobH z021 TOtallU￿ carTled lorwanlan 30 22.Wi.022 747 IZ4 19847 M* 20.594 $14 statement of Trustees. R￿ponSIbIlItIeS The Truslees ale responsible lor preparing the Trvsiees RerM)rt and the financkil statements lft accordance with appbcable law and United lQ"ngdom Accounting Standards IUnite(l Trtingdom Generally Accepted Accounting Practice) The law appkncable to charrties In England ar￿ Wales requires the Trustees to prepare financial ststements for each financialyear. whKh give a true and fair viewof the charity and ol the Incoming resources and appkncation of resotsrces of the chanty for Ihat pericxl In preparing financial stalements. Ihe Trustees are required lo" la) select suitable accounting wkncies and then apply them consistently Ibl obseNe the methods and pnncipies in the Chanbes SORP. (¢1 make Judgernenis and e5bmate5 Ihal arè reasonablè and pnJdenL lehl state whether applicable accounting stsndards have followed. Subject to any departures disclosed and expLairEd In the financial slalemenis. and prepare the financial stalements on Ihe going concern basis. unless It Is inappropnale to assume that the charity will continue In business Id) The Trustees are resFonsible for keepng proper accounting records. which dtxlose. with reasonable accuracy al any bme. financol Wsil￿n ol the chaiity and enable them lo ensure that the financial staleynents comply with the Charitses Act 2011. the Charity IAccounts and Reports) Reguiatsons and the provisions ol the trust Oeed The Trustees are aLso responsible for safeguarding the assets of the charity and. herKe. for tsknng ieascffialAe steps for the prevention and detection of fraud and other Irregulanl Indyxlent aud1￿$ r•port to th• Trustees of Cymdelthas Elusonnol Ynys Mon Oplnk We have audited the financ￿1 stslemenis of Isle of Anglesey Charitable AssLxIai￿n for Ihe year ended 3oSeptember 2023 which comprise ol the Sialement ol Financial Activities. the Balance g)eel and noles lo the financial ststemenis. IrKludin9 signifunt accounting pob.cies The rinancial reporting ITamework that has been applied In Ihwr preparation Is appijcable law and United knngdom Accounb"ng Stan(laTds. If￿LudIng Financial Rep)rting Standard 102 The Financial Reporting Stsndard applicable In the UK atKI Reputsi￿ ol IrelaTrJ (United Kingdom Gwerally Accepted Accounting Praclicel In our opnion. Ihe finarf*l ststemenls" give a true and fair view of the sLite of the Chanty's affairs as at 30 September 2022. èfKI of its Incom1r￿ resources and applthtKJn of resouices lor the year then ende(J. have been properly prepared in accordance with United Kingdom Generally Accepted Accounbng Pracbce and have been prepared in accordance with the requIrerr￿n¢s of the Charities Act 2011 8a51s for opinlon We conducted our audil In accordance with Inlwnètional Standards on Avoiling IUIQ IISAS IUK)) nd appbcable law Our respons4bililies undw those stsndards are further described In the Auditors Resp)nsibibtses for Ihe audit ol the financ￿1 statements secbon of our report We are independent of the Charily. In accoidance with the ethical requirements that are relevant lo our audit of the financial ststements in the UK includirKJ the FRC s Ethul Standard. and we have 2( fulfilled our other elhKal responsibiljties in aCCordar￿e wilh these requirements We betseve that ihe audit eVHIer￿e we have obtained Is Suff￿lent arKI appropnate to WOVKle a basis for our opinion In auditsry the financol slalemenls. we have concluded that the Trustees. use of the going concem basis of accounting In the pfeparalion ol the financial statements Is appropriate Based on the work we have perfoTmèJ. we have not idwbf*d any material uncertainties reLaling to eNEnts or corKlitsons IhaL Indiv*Jtsally or coLlecbveiy. may casl sionificanl doubl on the Chanty's abl￿tY to continue as a going concem for a peric*J ol at leasi ￿ months from when the financial siatements are authorised f¢y Issue C*Jr reswnsibilit*s. and the resFonsibibl*s ol the Trustees. with resFeCt to g￿ng concern are thscnbed In the relevant seclions ofthis Tepori other infornwt￿ comprises Ihe Infowmatjon i￿l￿d￿j In the annual feport. including the Trustees report. other than Ihe financial slalements and otjr audjlor s repy)rt Ihereon The Trustees are responsible for the other Inlom)alK)n contained within the annual rewrt Our opinion on the financ￿[ statements does not cow the other Information and. except to the exlenl othewse expkitly stated In our repcffi. we do not express any fom ol assurance conclusion Ihereon ¢)Jr reswnsibility Is to lead the other Infornat￿n and. in doing so. consider whether the other Inlormatson Is materially Incongsient wlh Ihe financial slalements or our knowledge obtain￿ in the audiL ￿ otFww15e appeafs lo te materially misstated 11 we ￿entsfy such material InconsistefK*S or apparenl malerial missialements. we are requtred to determine whelher there Is a material misyalemenl In the financial stalements themselves If. based on Ihe work we have FerfoTm&J. we conclude that there s a matenal missialement ol this other Informats'on. we are required to reFort Ihat lacl We have nothing to rewrt in this Tegard. Matters on whkh we ar• requ11￿ to report by exc•ptlon In the ioht of ihe knowledge and understsnding of the Charity and its enwronmenl obtained in the c¢)urse ol Ihe audit we have not Klenlified matenal rnisslatements In the Trustees report We have nothing to rerx)rt In resm of the followtng matters in rel3tJ¢M to which the Chanbes Act 2011 requires us lo rewrt to you If. In our opinion Ihe Informats.(￿ gwen in Ihe Trustees report is i￿Onsiste￿l in any material resFxt with the rinancial stslements or sufficient accounting records have not been kept or the financial statements are Th)t in agreement wilh the accounting records. or we have not reraved aLI the 1nf0miat￿1 a￿1 expianatsons we require oui audit Rosponslbllltbes of Trustees As explained more fully In the Trustees. respon51biirties stalemenl. the Trust￿ are responsible for the preparation of ihe financial sL3lemenis and for ￿ng satisfi￿1 that they gwè a Irue and fair view. and such Intemal control a5 the Trustees detemine Is necessary to enable the prep3ralion ol financ￿[ statements thèl are Iree from materkil misstalemenL whether due to fraud or error In preparing the fInar￿la1 statements. the Trustees are responsible for assessing the Charity"s ability to continue as a going concem. disclosing. as applicable. mallers related to going concern and tssing the goin9 concern basis of accounting. unless the Trustees either Intend to bquidate the Charity or lo ￿ase operations. or have no iealislic allÈrnalive bul lo do so. Audltor's re5ponslbSlltb•s fvr tho)udli of the financlal stst•ments We have been appointed as audrtor under Seclion 144 of the Charilies Act 2011 and report in accordan￿ with Ihe Act and relevant reguLatsons made or having effect Ihereunder r objectsves are to obtain reasonable a$surar￿e about whether the financial statements as a wIK)Le are free from matenal misstsiemenL whether due to fraud or error. and lo Issue an auditor s report that Incluoes our OFMnion Reasonable èssurance Is a high level of assurance. bul Is not a guafanlee that an au%Yrt conducted In acCOrda￿e wih ISAS IUK) will always detect a malerial misslalemenl when Il eyists Misststements can arise Irom fraud or error. and are consKlered matenal if. indniidually or In aggre9ale. ￿￿Y could reasonably be expected to Influence Ihe economic decisions of users taken on the basis of Ihese financial Staterr￿ts. Irr•Juiantses. 1r￿lUdI￿j fraud are Instances of nOn<0m￿lance with laws and regulations We design procedures in with Ouf respOn￿bIll￿es. oulbn&l above lo detect material misststemwts In respeth ol Irregtsiaritse5. Inciu(Jing fraud The e￿eft1 to which our procedures are capable ofdetectsng irregulanbes. irKltsdirKJ fraud. is detailgj below The engagement partner ensured that Ihejoinl engagement team had the appropri8te competence. Capa￿￿tses and skills to Identsfy or acknowledge r￿￿-coMp￿ance with appbcable laws and reguiabons We Klentified the Liws and reguLitsons that apply lo the company ihrough discussions with olhw directors and managws. and Irorn our cormwcsal knowledge and experience ol the sector We focused on specrfic laws and reguialioTrs that we thoughl could have a significant direct Impact on a company's finarKial statements or operabons. Including legislatson such as the Companies Act 2006. ￿xa￿on legisla1￿n. daL3 proteclion. ants-bribery. employment enwronmentsl health and safety legisla1￿n We assessed compliance with the taws and regulations sel out above by making management Inquiries and examining legal correspondence and Iden￿ried laws and regulations were roubnely communicat￿￿ within the audit team and the leam remainecl alert to non-coM￿ance thTouglvJut ihe audit We assessed the susceplitNlity ol the company'5 finawal ststements lo material misststemenL Including gaining an understBrKJing ol how fraud may (tcur. by. Make inquines from management abwl whwe tfv thought there was a tendency to fraud. th￿1 knowledge of genuinely su5￿cted and alleged fraud. Consider the inlemal controls in place to mitigate the nsks of fraud and non-compbance th laws and regulal In ￿der to a*Jress the risk of fraud through Managern￿l bias and disregard ol controls. we Perf¢)rm analytral wcredures to #Jentsfy any unusuèi or unexpected reiats'onships. Test accounling records for unusual transactions Assessing whelheriudgments and assumpbons made in amwng at Ihe accounbng esbmales Indicate p)ssible bias. Investigate the lo9￿ behind S￿rtIficant or unusual Iransaciths. In re5p)nse to the nsk ol Irregulanty and non-ctynplonce with laws and regulatsons. we de51gned procedures Ihat Induded. but nol ljmited Agree financsal sialement disclosures to basic supportin9 documents, Read the minutes of meetings of those charged wilh govemance. Inquire of management regaiding actual and potential ljligabon and claims. Review corTesporKlence with HM Revenue & Custom5. relevant regulators and the company's legal adwsers There are Inherent bmrtatThis In our audit procedures descriw above The more laws and regULAt￿nS are removed from financial transacbons ihe Less tskeiy il is Ihal we would become aware of nonYy. In accordance with *tion M4 of the Charibes Act 2011 and the regulations made under Secbon 154 of that Ad Our audit work has been undertaken 50 that we might st3le lo the Trustees those malteTS we are required lo siale lo them In an auditor s report and for no other purpose To the lullesl extent Permitt￿ by law. we clo not accepl or assume responsibbty to anyone other than the Charily s Trustee5 a5 a bcxdy. for our audit work. for this rery)rt. or for the wntsis we have fomied W J Matthew5 a'i Fab Archwiiiwr Statudoi CYfri￿r Slartredlg 11-￿ Y Bont Brldd Caernarfon Gwynedd LL55 th8 Date.. 19.07. 2024 -P