Company registration number: CE012283 Charity registration number: 1174762 Hamdden Caron Leisure IA company limited by share capitsll Annual Report and Financlal Statements for the Year Ended 5 Aprll 2025
Hamdden Caron Leisure Contents Reference and Administrative Details Trustees, Report 2to3 Statement of Trustees, Responsibilitie5 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financlal Statements 8t017
Hamdden Caron Leisure Reference and Administrative Details Trustees Mr Gene Malcolm Burns Davies Mr Nigel Francis Fletcher Mr John Jones Mr Rhydian James Wilson Prlncipal Office Hèmdden Caron Leisure Station Yard Station Road Tregaron Ceredigion SY25 6HX These financial Company Registration Number CE012283 Charity Registratlon Number 1174762 Independent Examiner PJ E Accountants and Advisors 23 College Street Lampeter Ceredi8ion SA48 7DY Accountants PJE Accountants and Advisors 23 College Street Lampeter Ceredigion 5A48 7DY Page I
Hamdden Caron Leisure Trustees, Report The trustees, who are directors for the purposes of company law. present the annual report together with the financial statements of the charitsble company for the year ended 5 April 2025. Objectives and artivities Public benefrt The artivities of the charity are those to promote for the benefit of the inhabitants of the Tregaron and surrounding area, the provision of facilities for recreation or other leisure time occupation of individuals and the public at13rge who have need of such facilities by rea50n of youth, elderly, infirmity and disablement, financial hardship or social exclusion and economic circumstances. or due to remoteness from the nearest leisure frdcilities in the county. The provision will be in the interests of improving health and general wellbeing of the community and inhabitants of Treg3ron and the surrounding area. The trustees confirm that they have complied with the requirements of sertion 17 of the Charities Att 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wale5. Financial instruments Objertives ond pollcies The charity's activitie5 expose it to a number of financial risks including credit risk, cash flow risk and Ilquldlty risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees. which provide written principles on the use of financial derivatives to manage these risks. The charity does not Use derivative financial Instruments for speculative purposes. Cash flow risk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchan8e rates nd interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and Ilabilities are held at fixed rate to ensure certainty of cash flows. Credit risk The charltys principal financial assets are bank balances and cash. trade and other receivables, and investments. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance Sheet are net of allowances for doubrful receivables. An allowance for impairment is made where there is an identif led loss event which, based on previous experience, is evidence of a reduttion in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk. with exposure spread over a large number of counterparties and customers. Liquidity risk I n order to maintain Ilquidity to ensure that sufficient funds are available for ongoin8 operations and future developments, the charity uses 3 mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Page 2
Hamdden Caron Leisure Trustees. Report The annual repc>rt was approved by the trustees of the charty on.................. - and signed on its behalf by: tcher (Oct 3, 2025 10:41:37 GMT*l) Mr Nigel Fletchef Trustee Page 3
Hamdden Caron Leisure Statement of Trustees, Responsibilities The trustees (who are also the directors of Hamdden Caron Leisure for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Prarticel and applicable law and regulations. Company law requires the trustees to prepare financial ststements for Èach financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements. the trustees are required to: select 5Ultable accounting policies and apply them consistently: obserne the methods and principles ID the Charities SORP: rnake judgements and estimates that are reasonable and prudent." state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unles5 it is inappropriate to presume that the charltable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure th3t the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
Hamdden Caron Leisure Independent Examiner's Report to the trustees of Hamdden Caron Leisure I report to the charity trustees on my examination of the accounts of ihe charity for the year ended 5 April 2025 which are set out on pages 6 to 17. Respertive responsibilities of trustees and examiner As the charity's trustees of Hamdden Caron Leisure land also tts directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companie5 Act 20061'the 2006 ACYI. Having satisfied myself that the accounts of Hamdden Caron Leisure are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charit¢s accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In tarrying out my examination I have followed the Direttions given by the Charity Commission under sertion 14515llbl of the 2011 Art. IndÈpendent examinerfs ststement I have completed my examination. I confirm that no matters have tome to my attention in connettion with the examination giving me cause to believe: l. accounting records were not kept in respett of Hamdden Caron Leisure as required by section 386 of the 2006 Act.. or 2. the accounts do not accord with those records; or 3. thÈ accounts do not comply with the accounting requirements of settion 396 of the 2006 Act other than ny requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination: or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prartice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021). I have no concerns and have come across no other matters in connertion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 23 College street Lampeter Ceredi8ion 5A48 7DY Date:.!% /.lo Page 5
Hamdden Caron Leisure Statement of Financial Artivities for the Year Ended 5 April 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2025 Note Income and Endowmentsfrom". Donations and legacies Charitable activities Other Income 28,743 28,743 Total income 28,743 28,743 Expendlture on: Raising funds Charitable activltles 119,9111 116.9231 119,911} 116,923 Total expenditure 136,8341 136,8341 Net income 18.0911 18,091 Reconclllation of funds Total funds brought forward 73,666 73,666 Total funds carried forward 65,575 65,575 Unrèstricted funds Total Z024 Income and Endowments from: Donations and legacies Charitable activttie5 Other income 21.626 21,626 Total income 21,626 21,626 Expenditure on: Raising funds Charitable 3Ctivities 18,785) 112.9891 18.7851 112,989 Total expenditure 121,7741 121.774 Total funds brought forward 73,814 73,814 Total funds carried forward 73.666 73,666 All of the charity's artivities derive from continuing operations during the above two periods. Page 6
Hamdden Caron Leisure (Registration number: CE012283) Balance Sheet as at 5 April 2025 2025 2024 Note Fixed assets Tangible assets 6.311 7.890 Current assets Stocks 25 25 Prepayrnents Cash at bank and in hand 1,535 57.704 59,264 1,399 64,352 65,776 Creditors: Amounts f3111ng due within one year io Net current a55ets 59,264 65,776 Net assets 65,575 73,666 Funds of the charity: Unrestricted income funds Unrestricted funds 65,575 73,666 Total fund5 65,575 73,666 For the financial year ending S April 2025 the charity was entitled to exemption from audit under sertlon 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The member5 have not required the chartty to obtsin an audit of its accounts for the year in question in zccordance with section 476,. and The directors acknowledge their responsibilities for complying with the requirements of the Att with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companie5 subject to the small companies, regime. The financial statements on pages 6 to 17 were approved by the trustees and authori5ed for issue on and signed on their behalf by- t.c.h£r.l.Q.c.t.3, 2025 10:41:37 GMT+l) Mr Nigel Fletcher Trustee Page 7
Hamdden Caron Leisure Notes to the Financial Statements forthe Year Ended 5 April 202S I Charity status The charity is limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute on amount not exceeding £1 towards the assets of the charity in the event of liouidation. The address of its registered office is: Hamdden Caron Leisure Station Yard Station Road Tregaron Ceredigion SY25 6HX 2 Accounting policies Summary of significant accounting poll¢ies and key accounting estirnates The prlncip31 accounting policies applied in the preparation of these financial statements are set out below. These pol icies have been conslstently applied to all the years presented. unless otherwise ststed. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charltles: Statement of Recommended Prattice app5i¢able to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 21K16 and Charities Act 2011. Basis of preparation Hamdden Caron Leisure meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical Cost or transaction value unless otherwise ststed in the relevant accountlng poIiLy notes. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Exemption from preparing a c35h flow statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included cash flow statement in these financial ststements. Page 8
Hamdden Caron Leisure Notes to the Financial Statements for the Year Ended 5 April 2025 Income and endowments All income is recognised once the charity ha5 entitlement to the income. it is probable that the income will be received. and the amount of the income receivable Cdn be measured reliably. Deferred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which. it h35 been rèceived. Such income is only deferred when: The donor specifies that the grant or donation must only be used in future accounting periods,. or The donor has imposed conditions which must be met before the charity has unconditional entitlement. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headin85, they have been allocated on a basis consistent with the use of re50urce5, Wlth central staff Costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the assevs use. Other 5UPPOrt costs are allocated based on the spread of staff costs. Roisingfunds These are costs incurred in attracting voluntary income, the management of inveslments and those incurred in tr3din8 activities that raise funds. Choritable artivities Charltèble expenditure comprises those costs incurred by the charity in the delivery of its activitles and SeiCe$ for its beneficiaries. It includes both costs that can be allocated dirertly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central funaions and have been allocated to activty cost categories on è basis consistent with the use of resources, for example, allocating property costs by floor area5, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charivs compliance with constitutional and statutory requirements, including audit. strategic management and trustees, meetings and reimbursed expenses. Taxation The charity is considered to pass the tests set out in Parngraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respert of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Settion 256 of the Taxation of Chargeable Gains Att 1992, to the extent that such income or gains are applied exclusively to charttable purposes. Page 9
Hamdden Caron Leisure Notes to the Financial Statements for the Year Ended 5 April 2025 Tangible flxed assets Individu81 fixed assets costing £IOD.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and amortlsation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic lrfe as follows: Stock Stock is valued at the lower of cost and estlmated selling price less costs to complete and sell. after due regard for obsolete and slow-moving stocks. C05t is determined using the first-in. first-out {FIFOI. Cash and cash equivalents Cash and cash equivalents cornprise cash on hand and call deposits. and other short-term highly liquld investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from supplier5. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Interest-bearing borrowings are initially recorded at fair value. net of transaction costs. Interest-bearing borrowings 3re subsequently carried at 3mortised cost. with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest pay3blÈ and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of thÈ liability for at least twelve months after the reporting date. Page 10
Hamdden Caron Leisure Notes to the Financial Statements for the Year Ended 5 April 2025 Foreign exchange Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. The results of overseas operations are translated at the èverage rates of exchange during the period and their bèl3nce sheets at the rates rylin8 at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reporced in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriatel. Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for- 11 exchange differences on transattions entered into to hedge certain foreign currency risks (see abovel: 21 exchange differences arlsing on gains or 1055es on non-monetary items which are recogni5ed in other comprehensive income- and 31 in the case of the consolidated financial sratements, exchange differences on monetary items receivable from or payable to a forei8n operation for which settlement 15 neither planned nor likely to occur (therefore forrning part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity. Fund Structure Oesignated funds are unrestrirted funds set aside for specific purposes at the discretion of the trustees. Financial instruments Classrfication Financial assets and financial liabilities are recognised when the tharty becomes a party to the contrartual provisions of the instrument. Financial liabilities and equity instruments are cla55ified according to the substance of the contractual arrangements entered into. An equity instrument is any contrart that evidences 3 residual interest in the assets of the charity after dedutting all of Fts liabilities. Page 11
Hamdden Caron Leisure Notes to the Financial Statements for the Year Ended 5 April 2025 Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including transartion costs), except for those financial assets classified as at fair value through profit or loss. which are initially measured at fair value Iwhich is normally the transattion price excluding transaction costs). unless the arrangement constitutes a financing transartion. If an arrangement constitutes a financing trdnsaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for similar debt instrument. Financial assets and liabilities are only offset in the ststement of financial position when. and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financlal assets are derecognised when and only when al thè contractual rights to the tash flows from thè financial asset expire or are settled. bl the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset. or cl the charity, despite having retsined some, but not all, significant risks and rewards of ownership. has transferred control of the asset to another party. Fina ncial li3bllities are derecognised only when the obligation specified in the contract is dlscharged, cancelled or expires. Page 12
Hamdden Caron Leisure Notes to the Financial Statements for the Year Ended 5 April 2025 Debt instruments Debt instruments which meet the following conditions are subsequently measured at amortised cost Using the effective interest method= lal The contractual return to the holder is lil a fixed amount; lill a posttive fixed rate or a positive variable rate; or liiil a combination of a posltive or a negative fixed rate and a positive variable rate. Ibl The contrart may provide for repayments of the principal or the return to the holder Ibut not both) to be linked to a single relevant ob5eNable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged. Icl The contract may provide for a determinable variation of the return to the holder duriftg the life of the instrument, provided that lil the new rate satisfies condition lal and the variation 15 not contingent on future events other than 111 a change of a contrartual variable rate- 12} to protect the holder against credit deterioration of the issuer-131 changes in levies applied by a central bank or arising from changes in relevant taxation or law; or lil) the new rate is a market rate of interest and sat15fies condltion lal. Idl There is no contractual provision that could. by its terms, result in the holder losing the principal amount or any interesr attributable to the current period or prior periods. lel Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put It back to the issuer before maturity are not contingent on future events. other than to protect the holder against the credit deterioration of the Issuer or a change in control of the issuer, or to protect the holder or Issuer against changes in levies applied by a central bank or arising from changes in relèvant taxation or law. If) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provislons applicable during the extended term satisfy the conditions of paragraphs lal to Icl. Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above condition5 are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairnient. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost Iwhich may be nill less impairment. Investments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their frdir value is reliably measurable} are measured at fair value through profit or loss. Where fair value cannot be measured reliably. investments are measured at C05t less impairment. Investments in subsidiaries and associates are measured at Cost less impairmenL For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Page 13
Hamdden Caron Leisure Notes to the Financial Statements for the Year Ended 5 April 2025 Derivativefinancial instruments The charity use5 derivative financial instruments to redu exposure to foreign exchange risk and interest rate movernents. The charity does not hold or issue derivative financial instruments for speculative purposes. Derivatives are initially recognised at fair value at the date a derivative contrart is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting 8ain or loss is recognlsèd in statement of financial artivities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship. Fair value me£Fsurement The best evidence of fair value is a quoted price for 3n identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there ha5 not been a significant change in economic circumstance5 or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical 355et on their own are not a good estimate of fair value, the fair value is estimated by usin8 a valuation technique. 3 Income from donations and legacles Total 2025 Total 2024 Regular glvlng and capital donations (Designated) 4 Other Income Totsl 2025 Totsl 2024 Fees and supplies IDesignatedl Government Grants 28.743 21,626 Page 14
Hamdden Caron Leisure Notes to the Financial Statements for the Year Ended S April 2025 5 Expendtture on charitsble activities Total 2025 Total 2024 Allocated support cost5 (Designated) Governance costs (Designated) 1,579 1,972 15,344 16,923 11,017 12,989 £16,923 12024 - £12,989) of the above expenditure was attributable to unrestricted funds and £Nil 12024 £Nill to restricted funds. 6 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses orany other benefltsfrom the charity durlngthe year. 7 Taxatlon The charity is a registered charity and is therefore exempt from taxation. Page 15
Hamdden Caron Leisure Notes to the Financial Statements for the Year Ended 5 April 2025 8 Tangible fixed assets Furntture and equipment Total Cost As at 6 April 2024 Additions 24.533 24,533 At 5 April 2025 24,533 24,533 Depreciation As at 6 April 2024 Charge for the year 16,643 1,579 14,671 1,972 At 5April 2025 18,222 16,643 Net book value At 5 April 2025 6,311 7,890 9 Stock 2025 2024 Stocks 25 25 10 Creditor5: amounts falllng due within one year 2025 2024 Trade creditors Deferred income 11 Analysis of net assets between funds Unrestricted funds Designated Total funds Tangible fixed assets Current assets 6,311 59,264 7,890 65,776 Current liabiltties Total net assets 65,575 73.666 Page 16
Hamdden Caron Leisure Notes to the Financial Statements forthe Year Ended 5 April 2025 12 Analysis of net funds At 6 April 2024 Cash flow At 5 April 2025 Cash at bank and in hand 64.352 16,6481 16.6481 57,704 Net debt 64.352 57,704 Page 17
Hamdden Caron Leisure Detailed Statement of Financial Artivities for the Year Ended 5 April 2025 2025 Total 2024 Totsl Income and Endowments from: Don3tions and legacies lanalysed below) Charitable activities lanalysed below) Other income lanalysed below) 28,743 21,626 Total income 28.743 21,626 Expendlture on: Raising funds lanalysed below) Charitablè activities lanalysed below) {19,9111 116,9231 {8.7851 12,989 Total expenditure 36,8341 121,7741 Net income 18,0911 148 Reconclliatlon of funds Total funds brought forward 73,666 73.814 Total funds carried forward 65,575 73,666 Page 18
Hamdden Caron Leisure Detailed Statement of Financial Activities for the Year Ended 5 April 2025 2025 Total 2024 Total Donations ond legacies Sponsorship IDI, DLI 202S Totsl 2024 Total Charitable artivitles Grants receivable IDI, CAII 2025 Total 2024 Totsl Other Income Fees, supplies and Government Grants IDI, 011 28,743 28,743 21,626 21,626 2025 Total 2024 Total Rai5ingfvnds Opening Stock IDI, OAI) Direct costs IDI, OAII Closing stock IDI, OA1} Wages and salaries IDI, OAII 1251 (7,9151 25 1251 11,6781 25 {11,996 (19,9111 17.1071 18,7851 Page 19
Hamdden Caron Leisure Detailed Statement of Financial Artivities for the Year Ended 5 April 2025 2025 Totsl 2024 Totsl Charitable artlvities Depreciation of fixtures and fittings {DI. CAI) Water rates IDI, GOVI Light, heat and power IDI. GOV) Insurance IDI, GOVI Telephone and fax IDI, GOVI Repairs and renewals {Dl, GOVI 11,5791 13771 16,5471 11,9111 16351 15,8741 116,9231 11,9721 1200) 14,407} 12.2271 16091 13,5741 112,989 Page 20