**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 2024
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 2024
|||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 2024
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 18 November 2024 and signed on its behalf by:
Mrs A Roberts - Trustee
Page 1
Hafod Ceiri
## Report of the Trustees for the Year Ended 30 April 2024
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 2024. 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**
Canolfan Hafod Ceiri Llithfaen Pwllheli Gwynedd LL53 6PA
## **Trustees**
I R Edgar P D James Mrs L H James P L Jones A W Jones (resigned 1.11.23) M J Parry Mrs A Roberts
Page 2
Hafod Ceiri
Report of the Trustees for the Year Ended 30 April 2024
## **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 18 November 2024 and signed on its behalf by:
Mrs A Roberts - 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 2024.
## **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:
1. 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
3. 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
4. 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
18 November 2024
Page 4
Hafod Ceiri
## Statement of Financial Activities
## for the Year Ended 30 April 2024
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
54,978
**EXPENDITURE ON**
Raising funds
2
13,789
**NET INCOME**
41,189
**RECONCILIATION OF FUNDS**
Total funds brought forward
424,075
**TOTAL FUNDS CARRIED FORWARD**
465,264|Restricted
fund
£
-
-
-
-
-|30.4.24
Total
funds
£
54,978
13,789
41,189
424,075
465,264|30.4.23
Total
funds
£
150,036|
|---|---|---|---|
||||12,623|
||||137,413
286,662|
||||424,075|
The notes form part of these financial statements
Page 5
Hafod Ceiri
## Balance Sheet
## 30 April 2024
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
6
440,624
**CURRENT ASSETS**
Debtors
7
196
Cash at bank
45,294
45,490
**CREDITORS**
Amounts falling due within one year
8
(20,850)
**NET CURRENT ASSETS**
24,640
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
465,264
**NET ASSETS**
465,264
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-|30.4.24
Total
funds
£
440,624
196
45,294
45,490
(20,850)
24,640
465,264
465,264
465,264
465,264|30.4.23
Total
funds
£
388,998
137
55,660
55,797
(20,720)
35,077
424,075
424,075
424,075
424,075|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 18 November 2024 and were signed on its behalf by:
A Roberts - Trustee
The notes form part of these financial statements
Page 6
Hafod Ceiri
Notes to the Financial Statements for the Year Ended 30 April 2024
## **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**|||
|---|---|---|
||30.4.24|30.4.23|
||£|£|
|Support costs|9,014|10,672|
continued...
Page 7
Hafod Ceiri
Notes to the Financial Statements - continued for the Year Ended 30 April 2024
## **3. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||30.4.24|30.4.23|
|---|---|---|
||£|£|
|Other operating leases|100|100|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
150,036
**EXPENDITURE ON**
Raising funds
12,623
**NET INCOME**
137,413
**RECONCILIATION OF FUNDS**
Total funds brought forward
286,662
**TOTAL FUNDS CARRIED FORWARD**
424,075
**TANGIBLE FIXED ASSETS**
**COST**
At 1 May 2023
Additions
At 30 April 2024
**NET BOOK VALUE**
At 30 April 2024
At 30 April 2023|Restricted
Total
fund
funds
£
£
-
150,036
-
12,623
-
137,413
-
286,662
-
424,075
Assets
under
construction
£
388,998
51,626
440,624
440,624
388,998|Total
funds
£
150,036|
|---|---|---|
|||12,623|
|||137,413
286,662|
|||424,075|
## **6. TANGIBLE FIXED ASSETS**
continued...
Page 8
Hafod Ceiri
|Notes to the Financial Statements-continued
for the Year Ended 30 April 2024
**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 1.5.23
£
**Unrestricted funds**
General fund
(2,699)
Capital Grants Fund
426,774
424,075
**TOTAL FUNDS**
424,075
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
6,299
Capital Grants Fund
48,679
54,978
**TOTAL FUNDS**
54,978|30.4.24
30.4.23
£
£
196
137
30.4.24
30.4.23
£
£
20,000
20,000
850
720
20,850
20,720
30.4.24
30.4.23
£
£
20,000
20,000
Net
movement
At
in funds
30.4.24
£
£
(7,490)
(10,189)
48,679
475,453
41,189
465,264
41,189
465,264
Resources
Movement
expended
in funds
£
£
(13,789)
(7,490)
-
48,679
(13,789)
41,189
(13,789)
41,189|
|---|---|
continued...
Page 9
Hafod Ceiri
Notes to the Financial Statements - continued for the Year Ended 30 April 2024
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.5.22
£
**Unrestricted funds**
General fund
5,857
Capital Grants Fund
280,805
286,662
**TOTAL FUNDS**
286,662
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
4,067
Capital Grants Fund
145,969
150,036
**TOTAL FUNDS**
150,036|Net
movement
At
in funds
30.4.23
£
£
(8,556)
(2,699)
145,969
426,774
137,413
424,075
137,413
424,075
Resources
Movement
expended
in funds
£
£
(12,623)
(8,556)
-
145,969
(12,623)
137,413
(12,623)
137,413|
|---|---|
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 1.5.22
£
5,857
280,805
286,662
286,662|Net
movement
in funds
£
(16,046)
194,648
178,602
178,602|At
30.4.24
£
(10,189)
475,453
465,264
465,264|
|---|---|---|---|
continued...
Page 10
Hafod Ceiri
Notes to the Financial Statements - continued for the Year Ended 30 April 2024
## **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:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|10,366|(26,412)|(16,046)|
|Capital Grants Fund|194,648|-|194,648|
||205,014|(26,412)|178,602|
|**TOTAL FUNDS**|205,014|(26,412)|178,602|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 April 2024.
## **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 2024
|Detailed Statement of Financial Activities
for the Year Ended 30 April 2024|||
|---|---|---|
||30.4.24|30.4.23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|1,674|2,317|
|Grants|53,304|147,719|
||54,978|150,036|
|**Total incoming resources**|54,978|150,036|
|**EXPENDITURE**|||
|**Other trading activities**|||
|Event costs|4,775|1,951|
|**Support costs**|||
|**Management**|||
|Rates and water|97|-|
|Light and heat|1,037|713|
|Telephone|254|-|
|Advertising|468|546|
|Repairs and renewals|1,749|-|
||3,605|1,259|
|**Finance**|||
|Other operating leases|100|100|
|Insurance|905|726|
|Bank charges|72|82|
||1,077|908|
|**Governance costs**|||
|Accountancy and legal fees|564|680|
|Professional fees|3,768|7,825|
||4,332|8,505|
|Total resources expended|13,789|12,623|
|**Net income**|41,189|137,413|
This page does not form part of the statutory financial statements
Page 12