The Plynlimon Trust CIO
Accounts for the Year Ended 31 December 2024
Charity No. 1175337
Apple Accountants 7A Harrow Road Hereford HR4 0EH
## The Plynlimon Trust CIO
## Index
- 1 General Information
- 2 Constitution and Objects
- 3 Trustee’s Annual Report
- 4 Independent Examiners Report
- 5 Statement of Financial Activities
- 6 Balance Sheet
- 7 to 10 Notes to the Accounts
## **The Plynlimon Trust CIO General Information**
Charity Trustees: Patricia Hales Lin Mathias Administering Office: Units 21-23 Foley Trading Estate Hereford HR1 2SF Independent Examiner: D A Berkeley CIMA Apple Accountants Hereford HR4 0EH Bankers: Nat West Bank Broad St Hereford Solicitors: Messrs Harrison Clark Rickerbys 29 Broad Street Hereford HR4 9AR
1
## **THE PLYNLIMON TRUST CIO 2024**
## **CIO registered on 24 October 2017**
## **Charitable objects**
THE OBJECTS OF THE CIO ARE TO FURTHER SUCH PURPOSES WHICH MAY BE CHARITABLE ACCORDING TO THE LAW OF ENGLAND AND WALES AS THE TRUSTEES SEE FIT THROUGH GRANTS, BIDS AND FUNDING FOR THE BENEFIT OF THE PUBLIC IN THE COUNTIES OF HEREFORDSHIRE AND WORCESTERSHIRE.
The charity operates several Community Transport schemes, one in Herefordshire and one in Malvern, Worcestershire along with an Alternative Provision Training Centre named Horizon Training for young people in Hereford.
The Board of Trustees has a duty to undertake discussion and make recommendations on constitutional and strategic issues all within the context of its mission.
The Board of Trustees are conscious of the unpredictability of its public sources of funding.
Income to the Charity comes from a variety of sources: donations, grants for specific projects, contracts through Herefordshire Council and WCC for schools’ transport, private training courses, and Dial a Ride income.
The securing of income for support and service development in the local area and the charity as a whole is always at the forefront in the thinking of Trustees. When applying for funds the Trustees have to ensure compliance in both the terms and conditions of the grant maker and The Plynlimon Trust CIO. The income generation strategy reflects the aims of our mission and the priority objectives.
The Trustees have considered carefully the Charity Commission's guidance on public benefit. The provision of the facilities as described provides a benefit to all in the local community and further afield.
2
## **CHAIR OF TRUSTEES REPORT:**
## **Patricia Hales**
The Plynlimon Trust CIO registered charity number 1175337 began operation on 1 January 2024.
All staff were TUPE’d over from The Plynlimon Trust 700748 to the new CIO.
The re-structure and downsizing of the charity proved to be a positive move.
Horizon Training became an Alternative Provision Provider dealing mainly with Herefordshire secondary schools, it has continued to make sound progress throughout the year.
Though challenges continue, the organisation has shown that it is innovative, solution-focused, and flexible enough to rise to them.
The ongoing need for funds for new minibuses for the Dial a Ride fleet is a constant battle.
The Board is mindful of the state of our aging fleet of Mini-buses and we are constantly looking for grants which will support the Dial a Ride service.
2024 saw another rise in fuel, utilities, rent and the increase in minimum wage increased our expenditure.
As ever, none of this would have been possible without the commitment and energy of our staff. We’re truly grateful and it gives us great confidence that we can continue, together, to make a real difference.
.
Patricia Hales
CHAIRMAN
3
The Plynlimon Trust INDEPENDENT EXAMINER’S REPORT TO
THE TRUSTEES OF THE Plynlimon Trust
UNDER SECTION 144 OF THE 2011 CHARITIES ACT
I report on the accounts of the Association for the year ended 31 December 2024, which are set Out on Pages 7 to 10.
RESPECTIVE RESPONSIBILITIES OF TRUSTEE AND EXAMINER
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees Consider that an audit is not required for the year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- Examine the accounts under section 145 of the 2011 Act;
- To follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- To state whether particular matters have come to my attention.
## BASIS OF INDEPENDENT EXAMINER’S REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes areview of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no matter has come to my attention:
(1)Which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2)to which, in my opinion, attention should be drawn in order to enablea proper understanding of the accounts to be reached.
NAME OF EXAMINER: _David Berkeley_ Mr David Berkeley ACMA DATE: 17 October 2025 ADDRESS: Apple Accountants, 7A Harrow Road, Hereford HR4 0EH RELEVANT QUALIFICATIONS: Chartered Management Accountant (ACMA) PROFESSIONAL BODY: Chartered Institute of Management Accountants
4
## **The Plynlimon Trust CIO Statement of Financial Activities Year Ended 31 December 2024**
|Note
**Incoming Resources**
Donations and similar incoming
resources
2
Other Grants
Other Trading Activities
Investment Income
3
**Total Incoming Resources**
**Resources Expended**
Charitable Activities
5
Governance Costs
6
**Total Resources Expended**
**Net Surplus / (Expenditure for Year)**
**Total Funds Brought Forward**
**Total Funds Carried Forward**|Unrestricted
Funds
£
85,355
0
409,874
232
**495,461**
427,963
6,512
**434,475**
60,986
0
**60,986**|Restricted
Funds
£
0
0
0
0
**0**
0
0
**0**
0
0
**0**|2024
£
85,355
0
409,874
232
**495,461**
427,963
6,512
**434,475**
60,986
0
**60,986**
Total Funds|
|---|---|---|---|
The notes on pages 7 to 10 form part of these financial statements
5
## **The Plynlimon Trust CIO Balance Sheet Year Ended 31 December 2024**
|Note
**Fixed Assets**
Tangible Assets
9
**Current Assets**
Debtors
10
Cash at Bank
Creditors: Amounts Falling
11
due within one year
**Net Current Liabilities**
**Total Assets Less Current Liabilities**
**Net Assets**
**Creditors:**Amounts falling due
12
after more than one year
**Capital and Reserves**
Unrestricted Income Funds
Restricted Income funds|£
£
139,755
139,755
31,163
50,709
81,872
(141,175)
(59,303)
80,452
80,452
(19,466)
60,986
60,986
0
60,986
2024|£
£
139,755
139,755
31,163
50,709
81,872
(141,175)
(59,303)
80,452
80,452
(19,466)
60,986
60,986
0
60,986
2024|
|---|---|---|
|||80,452|
|||80,452|
|||(19,466)|
|||60,986|
|||60,986
0|
|||60,986|
6
## **The Plynlimon Trust CIO Notes to the Financial Statements Year Ended 31 December 2024**
## 1. **Principal Accounting Policies Basis of Accounting**
These accounts have been prepared under the historical cost convention, and in accordance with the applicable accounting standards and the Charities SORP (Statement of Recommended Practice 2015: "Accounting and Reporting by Charities (FRS102)".
## **Depreciation**
Depreciation on tangible fixed assets is charged so as to write off their full cost or valuation, less estimated residual values, over their expected useful lives at the following rates:
|Motor Vehicles|-|25% of written down value per annum|
|---|---|---|
|Fixtures and Fittings|-|10% of cost per annum|
|Fixtures and Fittings|-|20% of cost per annum|
|Computer Equipment|-|33% of cost per annum|
Freehold property has never been depreciated. The carrying value of the land at Huntsham and the Chapters Bookshop was revalued in a earlier year. The Trustees consider these values to be approximate to recoverable amounts.
## **Revaluation**
A policy of revaluation has been adopted with regards to freehold property. Unrealised gains and losses arise upon revaluation. Other realised gains and losses are recognised when the corresponding asset value is recovered.
## **Funds**
Unrestricted income funds represent the funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the charity. The accounts include all transactions for which the charity is responsible in law.
## **Stocks**
Stocks are stated at the lower of cost and net realisable value.
2. **Donations and Similar Incoming Resources**
|Local Council Grants
General Donations and Gifts
Assets Donated|Unrestricted
Restricted
2024
2023
£
£
£
£
37,726
-
37,726
-
1,000
-
1,000
-
46,629
46,629|
|---|---|
||85,355
-
85,355
-|
7
## **The Plynlimon Trust CIO Notes to the Financial Statements Year Ended 31 December 2024**
## 3. **Investment Income**
Bank Deposit Interest
2024 £ 232
## 5. **Charitable Activities**
|||||
|---|---|---|---|
|**Charitable Activities**|Unrestricted|Restricted|2024|
|Costs of Activities for Charitable Objectives|£|£|£|
|Wages and Volunteer expenses|253,418||253,418|
|Purchases|4,139||4,139|
|Motor Running and Travel|39,715||39,715|
|Insurances|23,013||23,013|
|Professional Fees|3,013||3,013|
|Rent|40,627||40,627|
|Equipment Hire|479||479|
|Hire Purchase Interest|-||-|
|Bank Loan Interest|379||379|
|Sundry Expenses|1,352||1,352|
|Property Repairs and Maintenance|525||525|
|Equipment, Repairs and renewals|1,368||1,368|
|Computer Running and Maintenance|4,958||4,958|
|Training and Staff Costs|450||450|
|Subscriptions|1,581||1,581|
|Bank Charges|254||254|
|Light and Heat|6,259||6,259|
|Rates and Water|517||517|
|Cleaning|1,398||1,398|
|Advertising and Marketing|150||150|
|Depreciation|38,847||38,847|
|Telephone and Fax|2,977||2,977|
|Printing, Postage and Stationery|2,543||2,543|
||**427,963**|**-**|**427,963**|
8
## **The Plynlimon Trust CIO Notes to the Financial Statements Year Ended 31 December 2024**
## 6.
## 7.
## **Governance Costs**
|||
|---|---|
|**Governance Costs**|2024|
||£|
|Accountancy Fees|6,512|
|**Staff Costs and Numbers**||
|Staff Costs||
|Gross Salaries|241,806|
|Employer National Insurance Costs|8,405|
|Staff Numbers||
|The average number of full time/part-time employees for the year was:
Charitable Services
Administration
Volunteers|No.
17
3
1|
|---|---|
||21|
## 8.
## **Taxation**
The charity is exempt from taxation on its charitable activities.
## 9.
## **Tangible Fixed Assets**
|**Cost / Valuation**
As at 1 January 2024
Additions
Disposals
As at 31 December 2024
**Depreciation**
As at 1 January 2024
Charge for year
Disposals
As at 31 December 2024
**Net Book Values**
As at 31 December 2024|Motor
Fixtures &
Computer
Leashold
Total
Vehicles
Fittings
Equipment
ImprovementsFixed Asset
£
£
£
£
-
-
-
-
-
71,944
6,820
715
99,598
179,077
475
475|
|---|---|
||71,469
6,820
715
99,598
178,602|
||-
17,867
824
236
19,920
38,847
-
-
-
-|
||17,867
824
236
19,920
38,847|
|||
||53,602
5,996
479
79,678
139,755|
9
## **The Plynlimon Trust CIO Notes to the Financial Statements Year Ended 31 December 2024**
|10.
**Debtors**
Trade Debtors
11.
**Creditors: Amounts falling due within one year**
Trade Creditors
Accruals
Other Creditors
Hire Purchase
Other Taxes and Social Securities
12.
**Creditors: Amounts falling due after more than one year**
Hire Purchase
13.
**Movement in Funds**
Restricted
£
**As at 1 January 2024**
Incoming Resources
Outgoing Resources
**As at 31 December 2023**|2024
£
31,163|
|---|---|
||**31,163**|
||12,408
2,220
-
13,757
112,790|
||**141,175**|
||19,466|
||**19,466**|
||Unrestricted
£
495,461
(434,475)|
||**60,986**|
10