&AN CYMDEITHAS ELUSENNOL YNYS MON ADRODDIAD BLYNYDDOL i Hydref 2023 - 30 Medi 2024 )[ è'i?Ibp ANNUAL REPORT i October 2023 - 30 September 2024 Cymdeithas Elu*nnol Ynys Mon Care of: IsLe of Anglesey County Council Council Offices LLANGEFNI Ynys Mon LL77 7PW Cymdeithas Elusennol Ynys Mon Care of. Isle of Anglesey County Council Council Offices LLANGEFNI Ynys Mon LL77 7TW Registered Charity Number. 1174536 Trust Deed The Isle of Anglesey Charitable Trust (Registered Charity No. 1000818) was fonned on 5 June 1990 and the Trust deed of that date specifies the duties. powers and conditions under which the Trust is required to operate. The assets of the Isle of AngLesey Charitable Trust were transferred to Cymdeithas ELusennol Ynys Mon on i October 2019 (Registered Charity No. 1174536). The Trust&s for the year ending 30. 09. 2024 were as foLIows'. Trustees Name Dr Edward Jones (Chair) ELen Jones Appointed Trust￿ 30 September 2022 Deborah Chafer Appointed TNstee 30 September 2022 Ann Tooze Appointed Trustee 30 September 2022 Dr Lowri Hughes Appointed Trust￿ 30 September 2022 Trefor Owen Appointed Trustee 30 September 2022 Trefor LLoyd Hughes Elected Trust 26 July 2022 Non Dafydd Elected Trust 26 July 2022 Dafydd Roberts Elected Tnjst 26 July 2022 Neville Evans Elected Trust 26 July 2022 Jackie Lewis Elected Trust 26 July 2022 Gary Pritchard Elected Trustee 26 July 2022 Date of intment Appointed Trustee 30 September 2022 Term 3 years 3 years 3 years 3 years 3 years 3 years 3 years 3 years 3 years 3 years 3 years 3 years Chief Execub've Acting Treasurer Mrs Celyn Menai Edwards Mr Marc Jones Advisors The advisers of the CIO during the period we￿. Auditors: Messrs WJ. Matthews & Son Chartered Accountants li - ￿ Bridge Str￿t Caemarfon LL55 Accountants.. Sab"sburys Uxbridge Square Menai Bridge AngLesey LL59 5WY Investment Managers.. HSBC Private Bank (UK) Limited 78 James's Street London Swth LJB Govemance: consuttancy.coop LLP 37 Cardiff Road Dinas Powys CF64 4DH LegaL Geldards LLP 4 Capitsl Iljarter Tyndall Street Cardiff CFIO 4BZ RE The t￿st￿ present their report and financial statements for Cymdeithas Elusennol Ynys Mon for the year ended September 30 2024. The financial statements have b*n prepared in accordance with accounting policies and comply with the Charities Act 20ll and Accounting and Rep)rting by Charities Statement of Recommenced Practice applicabLe to Charities preparing their financiaL ststements in accordance with the FinanciaL Reports'ng Standard applicabLe in the UK and RepubLic of Ireland (FRS 102). GOVERNANC sTrucruR AND MANAGEMENT Cymdeithas Elusennol Ynys Mon was registered as a Charitable Incorporated Organisation (CIO) on 6 September 2017 (Charity Number. ll74536). On i October 2019, the CIO formaLly assumed the assets and undertakings of its predecessor. the Isle of Anglesey CharitabLe Trust. and commenced its charitable activits.es The original Trust had b￿n established by the former IsLe of AngLe￿Y Borough Council to manage funds received from ShelL (UK) Ltd following the closure of its marine OIL terminaL in accordance with the Anglesey Marine Terminal Act 1972. That Act placed a duty on the Council to "use the monies solely in the interest of the Island of Anglesey or its inhabitants.. The CIO continues to operate under the same charitable objects set out in the original trust deed. When the CIO was first constEtuted. all Trustees served in an ex-officio capacity. automatically assuming their roles by virtue of being elected members of the Isle of Anglesey County CounciL However. recognising the govemance risks of this modeL-incLuding ts"mited independence, lack of diversity. and potentiaL Con￿"cts of Interest-Trust￿S unanimously agreed in January 2022 to adopt a revised. membership-based govemance structure. A new constitution came into effect on 24 May 2022. The CIO now operates under a two-tier g0Veman￿ model comprising a Membership and a Board of Trust￿5. The Trust￿ Board consists of individuals selected for their skills. experience. and commitment to the charity's objectives. It incLudes six Elected TrUSt￿S (nominated and elected from within the Membership) and six Appointed TrUSt￿S (recruited via open public competition, including the Chair). The Membership is responsible for electing Trustees, scruts'nising Annual Reports, and ensuring the constitution remains current and fit for purpose. Members m*t with the Trust Board annually to discharge these duties While Membership is currently limited to serving Isle of Anglesey County Councillors in an ex- officio capacity. this modeL is now under review. FolLowing updated guidance issued by the Charity Commission in August 2024 specifically addressing the role of local authorib'es in charity govemance and the need for political neutrality - the CIO has undertaken a further proactive review to assess and future-proof its govemance framework As part of this process. the CIO is committed to ensuring that its structure reflects current best practice, safeguards independence. and enables effects've. compli'ant oversight in Line with evolving regulatory expectations TrUSt￿S are appointed for an initial term of thr* years and may be reappointed for a second consecutive term. A fulL b'st of TrUSt￿S serving during the year ending 30 September 2024 IS provided on page 2. All new Tnjstees receive a comprehensive induction covering the history, objectives. and operations of the CIO and are encouraged to undertake ￿Le¥ant training. Trustees and staff regularty rewew the Board's colLective skiLlset and remain up to date through continuous engagement with charity law and regulatory developments The day-t(Fday operations of the CIO are delegated to the Chief Executive. Mrs CeLyn Menai Edwards, who was appointed in September 202L She is responsible for the effective deLivery of the charity's work in b.ne with the strategy set by the Board. and for managing the charity's operations. grant-making and partnerships. Financial oversight is supported by the Acting Treasurer, to ensure continuity and Complian￿ in financial govemance. Both roles are subject to regular review to ensure they remain appropriate and responsive to the charity's needs. Strategic oversight and ultimate responsibl￿"ty for the CIO'S pots'cies. activities. and a￿ts rest with the Trustee Board. TrUSt￿S meet fonnally at least three times a year to review strategic direction. assess performance. approve grant alLocations. and ensure aLL activits'es remain ab'gned with the CIO'S charitable objectives and Legal responsibilitE& To strengthen governan￿ and erkible more detailed scrutiny of key ar&as, the CIO operates thr standing Sub-committ￿S. Each sub-committ* consists of a mix of Elected and i• Appointed TrUSt￿s. reflecting a range of professional eXpe￿'Se and ts.ved experience. These sub- committees are: The Investments. Govemance and Risk Comm￿￿, which provides strategic oversight and assurance in ￿latIOn to investment management risk controls, regulatory compliance, and contractual arrangements. The People and Remuneration Committ*, which focuses on human resources matters. including staff welfare. pay policy. leadership deveLopmenL and the charity's broader obligations as an employer. The Communications. Public Engagement and Marketing Committ￿. which supports the development of the charty's pubLic profile and stakeholder engagement strategy, and ensures communications activity is ats'gned with the CIO'S mission and values. In addition to fonnal govemance structures. the Board may seek advi￿ from professional advisers and extemal speciab'sts as required. TrUSt￿S are supported by the Chief Executive in the administration of gr3nt-making, including the assessment of appts'cab'ons. preparation of recommendations. prc£essing of payments. arKI management of monitoring dats and financial records. PRIMARY RISKS AND MANAGEMEKr In line with the requirement for trust￿5 to undert*e a risk assessment exercise and report on the same in their annuaL report. the trust￿ consider the risks that the charity faces and re￿IeW the measures in place, or that need to be put in place. to deal with them. The trustees identified five main ar&3s where risks may fxcur. Govemance and Strategic Operations CompU'ance ILegaL or Regulatory) Financial Environmental and Reputatior Govemance and Strategic looks at the risk the CIO suffers from a Lack of direction. the skiLls and training of the trUst￿S. board confij'cts and the good use of its funds. Operations Looks at the risk inherent in the CIO'S activities including supporting unsuitable appeals from charities, continuity of staff. Lack of a disaster recovery policy. etc. Compliance (Legal or Regulatory> looks at the risk the CIO suffers from a lack of compliance with legislation and reguLations appropriate to the activities. size and structure of the CIO'S size. It also looks at the effects of govemment policies and Complian￿ with Charity Commission directives. Financial risks include those arising as a result of poor budgetary control. inappropriate spending, poor accounts'ng. and inappropriate investment [￿>￿"CleS. etc. Environmental and Reputational Looks at possible damage to the CIO'S reputation, through association with unsuitsble charities. or wrth inappropriate activity. including conduct and timekn"ness. It also includes any risks associated with the charity's proFHty, incLuding land management plans and duty of care.-Icr The most significant ongoing risk continues to be the volatilty of investment income. which directly affects the charity's ability to make grant awards. TrUSt￿S benchma￿ investment perfomiance against comparable I￿oll0S and review the inNpstment strategy annually. They consider that, under current market condikn'ons. the existing investments are generating sufficient income to support the charity's future grant-making activity. ExtemaL professional advi*rs are retained to manage and monitor the fund with regular reporting to the Board. Governance-related risk remained a significant area of focus during the reporting year. Although Legal advice was received in October 2024. shortly after the financtal year-end, it foLlowed the Charity Commission's August 2024 guidance on po￿"tIcaL neutrats'ty and charity independence and is directly relevant to the Trust&s' ongoing approach to risk management The advice concLuded that the current composition of the Membership and Board - particularty the ex officio membership of alL IsLe of Anglesey County Councillors and ttr￿ resulting election of TrUSt￿S from within this group - gives rise to serious and recurring con￿'cts of loyalty. It also identified risks relating to effective decision-making. quorum, public confiden￿. and the independence of the charity. ALthough these risks do not retrospectively affect decisions made during the reporting year (ending 30 September 2024). the advice necessitates a foryward-looking response. The TrUSt￿S have accepted that elements of the current govemance model are no longer fit for purF)ose. A further govemance review is now Unde￿ay, with proposals for constitutional reform expected to be brought fO￿ard in July 202s These will include measures to reduce conflicts of interest. strengthen independent oversighL and ensure alignment with best practice. Having assessed the risks to which the charity is exposed - particuLarly those relating to investment performance and govemance - the Trust*s are satisfied that appropriate systems are in pLace to monitor and mitigate these risk& Robust controls exist over key financial processes. and investment management is delegated to professional advisers. ￿fjth perfornance regularly benchmar1urces for the year then ended. have b￿n property prepared in accordance with United ￿'ngdorn Generally Accepted Accounting Practice: and have b￿n prepared in accordan￿ with the requirements of the Charities Act 2011. Basis for opknion We conducted our audit in accordance with Intemational Standards on Auditing (UK) IISAS (UK)) and appLicable law. Our responsibiLtties underthose standards are further described in the Auditor's ResponsibiLities for the audit of the financiaL statements section of our report We are independent of the Charity. in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concem In auditing the financial statements. we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identtfied any material uncertainties reLating to events or conditions that. individually or coLlectiveLy. may cast significant doubt on the Charity s abiLity to continue as a going concem for a period of at Least ￿ months from when the finanaaL statements are authorised for issue. Our responsibilities. and the responsikn'lities of the Trustees. with respect to going concem are described in the relevant sections of this report Other Inf0M￿tIon The other informats'on comprises the information included in the annual report, incLuding the Trustees, report. other than the financial statements and our auditor's report thereon. The TrUSt￿S are responsible for the other information contained within the annual re￿rt. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise expts'citly ststed in our report, we do not express any form of assurance conclusion thereon. io Our responsibility is to read the other information and. in doing so. consider whether the other informatic>n is matEYiaUy inconsistent with the financial ststements or our knowledge obtained in the audit. or otherwise appears to be materially misstated. If we identfy such materiaL inconsistencies or apparent materia( misstatements. we are required to determine whether the is a materiaL misstatement in the finanaal statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other informab"on, we are required to report that fact We have nothing to report in this regard. Matters on whkh we are required to report by exc•ptlon In the light of the ￿￿wLedge and understanding of the Charity and its environment obtained in the course of the audit we have not identified rrklterial misstatements in the TrUSt￿s. report We have rK)thing to reF￿rt in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our O￿niOn. the information given in the Trust￿. report is inconsistent in ary material respect with the financiaL statements; or sufficient accounting records have not been kept" or the financiaL statements are not in agr￿rnent wrth the accounting records; or we have not received all the information and explanations we require for our audit Responslblutles of Trustees As explained more fully in the Trustees. responsibilities statement the TrUSt￿S are responsibLe for the preparation of the financFal statements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error. In preparing the financial statements. the TNstees are responsible for assessing the Charity's ability to continue as a going concem, disclosing. as applicable. matters related to going concern and using the going concem basis of accounting. unless the TNstees either intend to Liquidate the Charity or to cease operations, or have rK> reatistic altemative but to do so. Auditor's responsibiltties for the audit of the financial statements We have b￿n appointed as auditor under Section 144 of the Charities Act 2011 and report in accordance with the Act and reLevant reguLations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement whetfEr due to fraud or error, and to issue an auditor's report that includes opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audrt conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misststements can arise from fraud or error. and are considered material if, individually or in aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. IrreguLarities. incLuding fraud. are instances of rK>n-Comp[ian￿ with laws and regulations. We design procedures in line with our responsibilrties, outLined above. to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capabLe of detecting irregularities. incLuding fraud. is detailed below: The engage￿￿nt partner ensured that the joint engagement team had the appropriate competence. capabilities and skills to idenb'fy or acknowledge non-compkn'ance with appLicabLe Laws and reguLations: We identifEd the laws and regulations that apply to the charity through discussions with other trustees and senior officers. and from our commercial krK)wLedge and experience of the sector. We focused on specific ￿wS and regulations that we thought could have a significant direct impact on a chariws financial ststements or operations. incLuding LegisLab'on such as the Charities Act 2011. Laxation legisLition, data protection. anti-bribery, employment. environmentaL and heaLth and safety Legislation: We assessed compliance with the laws and regulations set out above by making management inquiries and examining Legal corresFX)ndence.' and Identified Laws and regulations were routinely communicated within the audit team and the team remained alert to non-compkn.ance throughout the audiL We assessed the Suscepts'bl￿.ty of the charitys financial statements to material misstatement. including gaining an understanding of how fraud may occur. by: Make inquiries from management about where they ttrKwght there was a tendency to fi3ud. their knowledge of genuinely suspected and alleged fraud: Consider the intemal controls in place to mits'gate the risks of fraud and non-complian with laws and regulations. In order to address the risk of fraud through management bias and disregard of controLs, we: Perform analytical procedures to identify any unusual or unexpected relationships: Test accounting records for unusual transactions: Assessing whether Judgments and assumptions made in arriving at the accounting estimates indicate possible bias: Investigate the logic behind significant or unusual transath'on& In response to the risk of irreguLqrity and non-COmp￿an￿ with laws and regulab'ons. we designed procedures that included, but not ts'mited to: Agr￿ finanaal statement disclosures to basic supporting documents. Read the minutes of meetings of tho* charged with govemance: Inquire of management regarding actual and potential liti'gation and claims: Review correspondence with HM Revenue & Customs. relevant regulators and the charity's Legal advisers. There are inherent limitations in our audit procedures described above. The more laws and reguLations are removed from financial transactK>ns. the less likeLy it is that we wouLd become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with Laws and regulations to interrogate the trustees and other senior officers and to scrutinize regulatory and legal correspondence. if any. Material misstatements arising from fraud may be more drfficult to detect than those arising from an error as they may involve deliberate concealment or coLLusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting CounciL's webs'te at. I￿￿.frcOrg.ukIauth.t0rsreSr￿)nsibI￿"kn'esj. This description forms part of our auditorfs reporL Use of our report This rewrt is made solely to the Charity's TrUSt￿s. as a body, in accordance with Section w of the Chartties Act 20ll and the regulations made under Section w of that Act. Our audit work has b*n undertaken so that we might state to the T￿st￿S those matters we are required to state to them in an auditor's report and for no other purpose. To the fulLest extent permitted by Law. we do not accept or assume reswnsibility to anyone other than the Charity's Trustees as a body, for our audit work for this report. or for the opinions we have fonned. Ljtf/Y￿fiL￿W FA- WJ Matthews & Sc>n Statutory Auditor Chartered Accountsnts 11-￿ Bridge Str￿t Caemarfon Gwynedd LL55 Date. oc//of CYMDEITHAS NCIAL ACTIVITIES F NNO YNY THE YEAR END MBE 02 INCOMING RESOURCES Investment income 5835n 58M7S la711 530.743 Interest Total Incoml .282 Cost of generating funds Investment management costs al costs and Sutv 91095 20,6 728 91095 20.633 98.822 Totsi c¢>st of gornratlng funds 107J12 Not Incomlng rosou 42s832 Grants in furtherarte of the otyects Of the charty Isle of Anglesey CC - i>iei Ynys Miin Communty and voLuntsry organisaticwis Large grants and Sm31L grants Less aLL<￿t￿nS fc sooo 3a500 47.861 676,902 o) 532415 18. 10.000 542A 166.6261 8.oa) Total cost of grnnts arKI actmt 638.&0 148.oa) Governance costs Other e 72.634 Tr634 nses 748.785 8.oa) &04u67 8.oal 48.0 la8310) (64634> Hoidlng galns and loses Gains/llossesl ¢Jn revaluation and dISp￿L of investment assets 22 12662 2.325.555 1059J24 Total fijnds brcught forward 807,221 19.885Ao8 Total fvnds forward 22.210. 16z8 The comparative breakdown of prior year fund balances for the SOFA is given in Note 16. CYMDErrHAS ELUSENNOL YNYS MON BALANCE SHEEf AS AT 30 SEPTEMBER 2024 Note 2024 2023 Flxed Assets Investments 3.243.532 21,482,055 Current assets Debtors and accrued income Cash at bank Total current assets 82.930 43. 87 6.917 82.302 8.381 90.683 Uablutles: amounts due within one year Creditors ALlocations not defra Total liabilities io (32.279) (586.217) (618,4 (33.264) (846.845) (880,1 Net current assets / (Liabilities) 1491.579) (789.426) 22,7 20.6 2.62 Funds Unrestricted funds .' General re*r Capital Grants aLLocated from capital 12,13 540.990 24.400,730 (2.189,767) 807.221 22.856.997 (2.966.979) Total funds 22,7 20.6 2,62 ELUSENNOL YNYS MON SEPT MBER 02 Note 2023/24 2022/23 Cash fiows from operating actlvities Net cash provided (used in) operatlng activities (1.064.025) 11,7u.895) Cash fiows from Investlng actlvltles Dividends and interest from investments Proceeds from sale of investments Purchase of investments Net cash provided by (used in) investment activities 583.571 14.477,404 o) 532.954 13,110,019 6) 1.107.545 1,498,977 Change In cash and cash equlvalents In the reporting period Cash and cash equivalents at the beginning of the re rtin eriod Cash and cash equivalents at the end of the re rtln 43.520 1232.918) I,ioi 284.01 4.621 i.ioi Approved by Y Gymdelthas on: _--------. Signed on behalf of Y Gymdeithas by: _ 16 NOTES TO THE FINANCIAL sfATEMENTS ACCOUNTING pouaES la) &isis of Accounting: The financial statements have been prepared in accordance with 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 (FRS102) (effective i January 2019) - (Charities SORP IFRS102)). the Financial Reporting Standard appb"cable in the UK and Repubts"c of Ireland (FRS102) and the Charity's deed and applicable law. Cymdeithas Elusennol Ynys Mon rn￿ts the FRS102 definition of pubtic interest entty. Assets and ￿'abIlitieS are recorded in the accounts at historical cost. unless they have b￿n restated in accordance with a relevant accounting F)0￿.cy. (b) Grants Payable are recognised in the accounts when the allocab'on has been approved by Cymdeithas Elusennol Ynys Mon. and the necessary conditions that enable the funding are conf1m￿d. Investment Income is included in the accounts.. for short term deposits and balances - on a daily accrual basis: for equity - when stocks are declared ex-dividend. for rents - in the year to which it related.. for collective funds and other income on a receipts basis. The ordinary element of stocks received in ts'eu of cash dividend is treated as income of the fund. (ch) Expenditure.. Expenditure is included on an accruals basis. Costs have b￿n attributed to functÉonal categories in the Statement of Financial Activities. Costs of generating funds comprise those costs directLy attributable to improving. protecting and marketing investment property and the costs of managing the investment portfo￿"0 and raising investment income. Charitable expenditure compri*s grants to voluntary and local organisations and contributions to pubtic servI￿s. It has also included direct expenditure on an historic building and land in Cymdeithas Elusennol Ynys Mon's ownership. The￿ are charged in the year in which the decision is made to offer the grant. Where organisations have been given an indicats'on of grants payable in a future year. they are noted as indicative txjt not accrued in the accounts. managerr￿nt and administration compri* payments to third parties relating to the administration of Cymdeithas ELusennoL Ynys Mon. (d) Investments.. The investments of Cymdeithas Elusennol Ynys Mon have been valued at middLe market prices at the close of business at the balance sh￿t date, except collective investments. which are valued at bid price. Gains and losses on disposal and revaluation of investments are charged or credited to the Statement of Firkancial Ath'ifjties 17 (dd) Investment Property: See note 7 to the accounts. (e) Funds.. The nature and purpose of each fund are explained in note 12. If) Preparatlon of the accounts on a golng concern basi& The trustees are of the vièw that the charity has sufficient funds in reserve and that the charity is a going concern. INVESTMENT INCOME Almost all the CIO'S income arises from the investments held by Investment Managers. Their f￿S depend on investment performance and income is projected net of f￿s. The totsl income on investments for the current period was £503.187. cosr OF GENERATING FUNDS . These are the costs of managing the investment property and the Investment Managers. Investment Managers. Fee L aL Costs and Surve 93.095 20.6 I￿.728 98.822 00 107.122 REMUNERATION & RELATED PARTY TRANSAcnoNS "None of the trUst￿S lor any persons connected with them) received any remuneration or benefits from the charity during 2023-2412022-23 - £54.65). Expenses incLude costs incurred when visiting grant appts'cants as part of the trUSt￿s, govemance procedures. GRANTS Below is the direct charrtable expenditure by Cymdeithas Elusennol Ynys Mon.. Islè of Angiesey CC- Oriel Ynys Mc)n I￿.000 322.500 . Communty artd SpKYts'ro Facili￿S and Otl*r Vcluntsry organ￿at 47.861 19 - VItEage Hati Running Costs - Anglesey Ytsjng Farmers - Urdd Gobaith Cymru - Digartref Cyf . Clwb Criced Porthathwy - Mencap Mon . Clwb Rygts Llangefni - GtanhwFa . Cynw Cymimed BryrvJw 30.000 48.000 30.000 48,000 56.$44 50,000 23.100 20,000 .000 50.000 52,040 28.832 37.958 - Cymdeithas Gemau Ynys- Ynys Mon - Cyngor Cymuned Penmynydd a Star - Cyngor Cymuned LtanKlan - HAWFC -￿dDaMOn . knglesey Agitultwal SCK 100.000 49950 i86,￿7 23 2￿,827 41 657415 1,047262 Allocatlons Forgone Grants aLlocated but not claimed within the eligibility period are written off and funds retumed to the general and capital fund for future allocations. Community OrganTrsations Village Halls COVID-19 e Grants 7.402 203 1.000 8.021 66,626 27,646 27.233 1.171 GOVERNANCE Cymdeithas ELusennoL Ynys Mon's govemance expenses represent f￿S to other bodies for speciaList seNices. travel and subsistence costs, as well as salary costs of the Chief .Executive Officer and Treasurerfs F￿. Detsils of the markigement and administrative expenses are.. Auditor's f& - for audit ServI￿S EMpLOy￿ benefits MisceLlaneous 5.400 62.169 ,06 4.605 35.094 44A INVESTMENT PROPERTY During 1995. the Isle of Anglesey Borough Council transferred two parcels of ￿nd at Rhosgoch and Amlwch Port to the Trust. at an estimated market value of £550.000. The Land was part of the final settLernent by SheLL (UK) Limited (S￿ Trustee's Report) and subject to the same conditions as the original monies. Part of the land at AmLwch Port was sold in 1995/96 and the remaining land at Rhosgoch was sold in 2015/16. The remaining Land at Amlwch Port has nil value. being estimated market value. and is designated as a heritsge asseL It constitutes one side of the harbour, which dates to the 18th century. and includes the Mona MilL built in the early nineteenth century. The tand is used as an amenity by the pUb￿"C and the CIO has agreed to public access to the MILL and is considering proposals to fulfil its conseniation and pre￿rVatIon objectives in respect of this land. This valuation was undertaken by the Isle of Anglesey Council's Valuer as on 30 September 2022. The Valuer is a Member of the Royal Insts'tute of Chartered SuNeyors (MRICS) and is an employ￿ of the IsLe of Anglesey County CounciL The CIO has no other Heritage Assets. nor does it have a policy to actively acquire any further such assets. INVEsfMENTS The investments shown in the balan￿ sh*t can be broken down as: 23¢:., Equity - UK Global Equity Fixed Interest Altematives 3.188,853 11.5g6.914 6.￿gA05 2.277.823 2,747.885 163.926 5,555,495 1.972.028 Cash 42.721 2&482,0 ,24 Investments are held through investment managers in the name of nOMin￿s.and all holdings are readily realisable. Further details on the type of non-cash investments ut1￿"sed within the period that are more than 4% of the value of the investments within the period are shown in the tsble below.. HSBC GIF Global Co rate Bond (fixed income. GBP) HSBC GIF Global Govemment (fixed income. GBP) 11.17Y. Invested cash includes small amounts of foreign currenw. ALL investments are shown at market value. The corresponding historical values at 30 September 2024 are as follows: £000 2,842 10.042 6.351 2.072 2L307 £000 3,189 11.597 6.￿9 2.278 21193 Equity- UK Equty - Global Fixed Interest Altematives 347 1.555 (222) 206 1,886 va £000 Brought forward Adjust operdng balarte Sales and redemptions Purchases arxj rights issues Gains / (losses) in ear 21.195 2L439 I￿.504) 952 (￿770) IL952 1.572 23193 2&307 734 ReaLtsed gains / (losses) are calculated as the total difference be￿een the sales income and historical cost The total gains / (Losses) on investments is the totaL of realised gains / (losses) from sale of holdings net of any adjustments to historical cost. plus unrealtsed gains / (Losses). DEBTORS AND ACCRUED INCOME Accrued Investment Income 82.930 82, 82,302 82. 02 io. CREDITORS AND ACCRUALS 2024 30 2023 Investrnent Mana other ement F 23,229 9.050 32379 24.556 8,708 33,264 ALLOCATIONS NOT DEFRAYED These are grants awarded in previous years uthich have not yet been claimed by the benefictaries. Grants not claimed within four years are normally de-committed. and this is reflected in this figure. The CIO'S large grants support schemes for which payments can be drawn down by the project sponsors over a period of years FUNDS Cash in any fund not required for short term liquidity. is temporarity invested with the Investment Managers. The Capital Fund is expendable endowment of the CIO. It is made up of the Land and monies re￿iVed by the IsLe of AngLesey Borough CounciL from SheLL (UKJ Limited when the company ceased to operate an Oil TerminaL on AngLesey. and transferred to the Trust in 1990 and 1995. together with the capital growth on those sums. From time to time. capital may be released to fund specific projects by a majority of two thirds of the membership of Cymdeithas Elusennol Ynys Mon. The movements on the CapitaL Fund relate to gains and losses on the investments. the performance element of the Investment Managers. f￿ and any costs of improving. protecting or marketing the land as shown in the staterr￿nt of Financial Activities. -The balance on the General Reserve is the accumulated surpluses and deficits from previous years which the CIO is free to use in accordance with the charitable objects. Income from the investments. and all costs not charged to the capital fund in the year. relate to the unrestricted GeneraL Reserve as shown in the Statement of Financial Activities. The allocations made from the CIO'S annual grants programme also relate to this reseNe. ANALYSIS OF MOVEMENTS BEfwEEN FUNDS b/fwd investments General Resetve Capital Fund Grants Allocated 807.220 22.856.937 (2,9n,5891 20,692.628 596282 (862.5￿) 540.990 24.400,730 (2,189,767) 22,751.953 L543,733 48,02 (814A9 733.801 T33.801 596282 733 ANALYSIS OF GAIN / QOSS) ON REVALUATIONS AND DISPOSALS OF INVEsfMEKf ASSErs 2024 20Z3 Realj'sed gain / (loss) on the sale of fixed asset 733.801 677.426 Unreatised gain / (Loss) on rewaluatK)n L543.733 36.323 Reab'sed arKI unrealised gain / (loss) on the value of investments 2.277.534 713,749 Net incomi resouros Net movement of funds (218.210) 2,059, Is RECONCIUATION OF NEf MOVEMENTS IN FUNDS TO NEf CASH FLOW FROM OPERATING ACTIVITIES 30 Medl 2024 30 Medi 2023 Net movement in funds for the repo￿.ng period 2.059.324 Adjustment for. Dividends and interest from investments Unrealj'sed and reali'sed gains on disposaLs (Increase> / decrease in debtors Increase / (decrease) in creditors Net cash provided by (used In) tin (5g6.28 (532,g54) (T33.80 (628) (261.6ty In3749) (3,275) 1580,03 467,000 16. PRIOR YEAR FUND BREAKDOWN IMDErrHAS ELUSENNOL YNYS MON STATEMENT OF FINANCIAL AcrivrriES FOR THE YEAR ENDED 30 SEFrfEMBER 2023 ToLqi INCOMING RESOURCES Investment income Diwdends and ￿ed interest income 530.743 530,743 2311 Interest . Cost of generating funds Investment management costs Legal costs 98.822 107.122 Net Incomlng resources aValab￿ for ', charltabie appucatlon 42s832 Grants in furtherance of thè objects of the charity Isle of AngLew CW CcLmciL. Oriel Ynys Mon Communty and voluntary organisatK)ns iArge grants and Small grants £Less ailocab'ons forg 676.W2 ILln) 675.731 154.880) 315.4 Goveman 44A92 365.736 675.731 &04&467 (4T2.858) 1675.7Y) (1.48&89) (675.7￿) I6￿635} Gains/llossesl on rwdiuatK)n ar)d dsp)sal of investment assets 713.749 n1749 98,14 Total funds brought fonward i October 2022 Total funds carrled forward on 30 September 2023 807.220 statement of Tntstees. Responslbllitles The Trustees are responsibLe for preparing the Trust*s Report and the financial statements in accordance with applicable law and United lfjngdom Accounting Standards (United Kingdom GeneratLy Accepted Accounting Practice). The Law applicable to charities in Engtand and Wales requires the Trustees to prepare financial ststements for each financiaL year. which give a true and fair view of the charity and of the incoming resources and appts'cation of resources of the charity for that period. In preparing financial statements, the Trustees are required to: (a) select suitsble accounting policies and then apply them consistently; observe the methods and principLes in the Charities SORP.. make judgements and estimates that are reasonabLe and prudenL' (ch) state whether applicable accounting standards have b*n followed. subject to any departures disclosed and explained in the financial statements.. and prepare the financial statements on the going concem basis. unless it is inappropriate to assume that the charity will continue in t)usines& (d) The Trustees are responsible for keeping proper acciwnting records. which disclose. with reasonable accuracy at any tirre. the financial po&'tion of the charity and enable them to ensure that the financial statements comply with the Charities Act 201L Charity (Accounts and Reports) Regulats'ons and the provisions of the trust deed. The TrUSt￿S are atso responsible for safeguarding the assets of the charity and. hence. for takn'ng reasonable steps for the prevention and detection of fraud and other irregularities.