REGISTERED COMPANY NUMBER: 09563225 (England and Wales) REGISTERED CHARITY NUMBER: 1177001
Strategic Report, Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 April 2022
for
Hafod Ceiri
Gwyn Thomas and Co Limited 1 Thomas Buildings New Street Pwllheli Gwynedd LL53 5HH
Hafod Ceiri
Contents of the Financial Statements for the Year Ended 30 April 2022
| Page | |||
|---|---|---|---|
| Strategic Report | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
Hafod Ceiri
Strategic Report for the Year Ended 30 April 2022
The principal activity of the charity in the year under review was to convert Capel Isa Llithfaen into a Heritage Center .
REVIEW OF BUSINESS
The trustees met every three months during the year and were updated regularly by the works committee who met on a monthly basis .
The aim is to adapt the building into a multi-purpose centre , including an interpretive centre for Tre Ceiri (the Iron Age Village on the mountain above the centre) , an auditorium , cafe ,work units , a small cinema and accommodation as well as a worship area .
Approved by order of the board of trustees on 16 March 2023 and signed on its behalf by:
Mrs L H James - Trustee
Page 1
Hafod Ceiri
Report of the Trustees for the Year Ended 30 April 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2022. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Public benefit
One of the main aims of the initiative is to broaden the cultural life of the area .
ACHIEVEMENT AND PERFORMANCE
Fundraising activities
The main fundraising activities are an exhibition of Llithfaen's local history , sponsored walks, entertainment evenings and other social events .
FINANCIAL REVIEW
Reserves policy
The trustees are satisfied that there are sufficient reserves held to meet the day to day working capital requirements of the charity .
Going concern
The trustees are satisfied that the charity will be able to generate sufficient income to meet its obligations as and when they fall due .
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document and constitutes a limited company , limited by guarantee , as defined by the Companies Act 2006 .
Organisational structure
The Board consists of seven Trustee Directors .
The Charity's trustees have overall responsibility for monitoring the project progress . They meet on a regular basis and are a team of professional people with local knowledge .
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
09563225 (England and Wales)
Registered Charity number
1177001
Registered office
Tabor Llithfaen Pwllheli Gwynedd LL53 6NL
Trustees
I R Edgar P D James Mrs L H James P L Jones A W Jones M J Parry Mrs A Roberts
Page 2
Hafod Ceiri
Report of the Trustees for the Year Ended 30 April 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Company Secretary
Mrs L H James
Independent Examiner
Gwyn Thomas and Co Limited 1 Thomas Buildings New Street Pwllheli Gwynedd LL53 5HH
Approved by order of the board of trustees on 22 February 2023 and signed on its behalf by:
Mrs L H James - Trustee
Page 3
Independent Examiner's Report to the Trustees of Hafod Ceiri
Independent examiner's report to the trustees of Hafod Ceiri ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection 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.
Gwyn Trewren Thomas Gwyn Thomas and Co Limited 1 Thomas Buildings New Street Pwllheli Gwynedd LL53 5HH
Date: .............................................
Page 4
Hafod Ceiri
Statement of Financial Activities
for the Year Ended 30 April 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 145,762 EXPENDITURE ON Raising funds 2 7,054 NET INCOME 138,708 RECONCILIATION OF FUNDS Total funds brought forward 147,954 TOTAL FUNDS CARRIED FORWARD 286,662 |
Restricted fund £ - - - - - |
30.4.22 Total funds £ 145,762 7,054 138,708 147,954 286,662 |
30.4.21 Total funds £ 59,774 |
|---|---|---|---|
| 2,121 57,653 90,301 |
|||
| 147,954 |
The notes form part of these financial statements
Page 5
Hafod Ceiri
Balance Sheet
30 April 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 6 275,592 CURRENT ASSETS Debtors 7 12,368 Cash at bank 19,302 31,670 CREDITORS Amounts falling due within one year 8 (20,600) NET CURRENT ASSETS 11,070 TOTAL ASSETS LESS CURRENT LIABILITIES 286,662 NET ASSETS 286,662 FUNDS 10 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
30.4.22 Total funds £ 275,592 12,368 19,302 31,670 (20,600) 11,070 286,662 286,662 286,662 286,662 |
30.4.21 Total funds £ 162,067 11,514 34,973 46,487 (60,600) (14,113) 147,954 147,954 147,954 147,954 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 22 February 2023 and were signed on its behalf by:
P D James - Trustee
The notes form part of these financial statements
Page 6
Hafod Ceiri
Notes to the Financial Statements for the Year Ended 30 April 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 30.4.22 | 30.4.21 | |
| £ | £ | |
| Support costs | 7,054 | 2,121 |
continued...
Page 7
Hafod Ceiri
Notes to the Financial Statements - continued for the Year Ended 30 April 2022
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 30.4.22 | 30.4.21 | |
|---|---|---|
| £ | £ | |
| Other operating leases | 100 | 100 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2022 nor for the year ended 30 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2022 nor for the year ended 30 April 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 59,774 EXPENDITURE ON Raising funds 2,121 NET INCOME 57,653 RECONCILIATION OF FUNDS Total funds brought forward 90,301 TOTAL FUNDS CARRIED FORWARD 147,954 TANGIBLE FIXED ASSETS COST At 1 May 2021 Additions At 30 April 2022 NET BOOK VALUE At 30 April 2022 At 30 April 2021 |
Restricted Total fund funds £ £ - 59,774 - 2,121 - 57,653 - 90,301 - 147,954 Assets under construction £ 162,067 113,525 275,592 275,592 162,067 |
Total funds £ 59,774 |
|---|---|---|
| 2,121 57,653 90,301 |
||
| 147,954 |
6. TANGIBLE FIXED ASSETS
continued...
Page 8
Hafod Ceiri
| Notes to the Financial Statements-continued for the Year Ended 30 April 2022 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR VAT 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 9) Accrued expenses 9. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 10. MOVEMENT IN FUNDS At 1.5.21 £ Unrestricted funds General fund 9,688 Capital Grants Fund 138,266 147,954 TOTAL FUNDS 147,954 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 3,223 Capital Grants Fund 142,539 145,762 TOTAL FUNDS 145,762 |
30.4.22 30.4.21 £ £ 12,368 11,514 30.4.22 30.4.21 £ £ 20,000 60,000 600 600 20,600 60,600 30.4.22 30.4.21 £ £ 20,000 60,000 Net movement At in funds 30.4.22 £ £ (3,831) 5,857 142,539 280,805 138,708 286,662 138,708 286,662 Resources Movement expended in funds £ £ (7,054) (3,831) - 142,539 (7,054) 138,708 (7,054) 138,708 |
|---|---|
continued...
Page 9
Hafod Ceiri
Notes to the Financial Statements - continued for the Year Ended 30 April 2022
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.5.20 | in funds | 30.4.21 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 2,682 |
7,006 | 9,688 |
| Capital Grants Fund 87,619 |
50,647 | 138,266 |
| 90,301 | 57,653 | 147,954 |
| TOTAL FUNDS 90,301 |
57,653 | 147,954 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 9,127 |
(2,121) | 7,006 |
| Capital Grants Fund 50,647 |
- | 50,647 |
| 59,774 | (2,121) | 57,653 |
| TOTAL FUNDS 59,774 |
(2,121) | 57,653 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Capital Grants Fund TOTAL FUNDS |
At 1.5.20 £ 2,682 87,619 90,301 90,301 |
Net movement in funds £ 3,175 193,186 196,361 196,361 |
At 30.4.22 £ 5,857 280,805 |
|---|---|---|---|
| 286,662 | |||
| 286,662 |
continued...
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Hafod Ceiri
Notes to the Financial Statements - continued for the Year Ended 30 April 2022
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Capital Grants Fund TOTAL FUNDS |
Incoming resources £ 12,350 193,186 205,536 205,536 |
Resources Movement expended in funds £ £ (9,175) 3,175 - 193,186 (9,175) 196,361 (9,175) 196,361 |
|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2022.
12. LEASEHOLD PROPERTY
The company secured a 99 year lease of Capel Isa Llithfaen at a rent of £100 per annum on 10 February 2020 .
Page 11
Hafod Ceiri
Detailed Statement of Financial Activities
for the Year Ended 30 April 2022
| Detailed Statement of Financial Activities for the Year Ended 30 April 2022 |
||
|---|---|---|
| 30.4.22 | 30.4.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 3,223 | 2,727 |
| Grants | 142,539 | 57,047 |
| 145,762 | 59,774 | |
| Total incoming resources | 145,762 | 59,774 |
| EXPENDITURE | ||
| Support costs | ||
| Management | ||
| Light and heat | 631 | 191 |
| Postage and stationery | 701 | - |
| 1,332 | 191 | |
| Finance | ||
| Other operating leases | 100 | 100 |
| Insurance | 690 | 708 |
| Bank charges | 35 | (283) |
| 825 | 525 | |
| Governance costs | ||
| Accountancy and legal fees | 600 | 455 |
| Professional fees | 4,297 | 950 |
| 4,897 | 1,405 | |
| Total resources expended | 7,054 | 2,121 |
| Net income | 138,708 | 57,653 |
This page does not form part of the statutory financial statements
Page 12