Charity registration number 1183339 (England and Wales)
CYLCH CAE TOP CIO
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
CYLCH CAE TOP CIO
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | H Ombler-Williams |
|---|---|
| H Davies | |
| E Keily | |
| Charity number (England and Wales) | 1183339 |
| Independent examiner | Barrie Buels FCCA FCIE |
CYLCH CAE TOP CIO
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Statement of cash flows | 6 |
| Notes to the financial statements | 7 - 12 |
CYLCH CAE TOP CIO
TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2025
The trustees present their annual report and financial statements for the year ended 30 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "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
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
Cylch Meithrin Cae Top has continued to fulfil its charitable objectives by providing consistent, affordable Welshmedium childcare from 07:30 to 17:55, 48 weeks of the year. The provision remains in high demand, with strong occupancy levels maintained throughout the year and a waiting list in operation, demonstrating ongoing need and public benefit.
A key development during the year was the creation of a new on-site park, developed as a shared resource between the Cylch and the school’s Meithrin class. This has significantly enhanced outdoor play, physical development and wellbeing opportunities for children, supporting active engagement and inclusive practice.
The staffing structure experienced some natural transition, with a number of valued staff members moving on to new professional opportunities. The trustees are pleased to note that newly appointed staff have brought fresh skills, energy and enthusiasm, contributing positively to the continued high quality of the provision and ensuring appropriate capacity is maintained.
A significant milestone during the year was the Cylch’s acceptance onto Gwynedd Council’s list of recommended early years providers. This recognition enables improved access to professional development opportunities for staff, eligibility for targeted grant funding to support service development, and the potential for additional financial support for families, further strengthening accessibility and sustainability.
The Cylch continues to promote the Welsh language effectively within a nurturing, inclusive environment that meets the needs of a linguistically and culturally diverse community, in line with its charitable aims.
Looking ahead, the trustees have agreed a planned programme of capital investment over the next two years to maintain and enhance the suitability, safety and long-term sustainability of the premises. This will include improvements to internal furniture, toilets and flooring, alongside enhancements to outdoor provision such as biking facilities and additional outdoor storage. The programme will also prioritise safeguarding and security, with planned upgrades to access control systems and CCTV.
These planned investments are aligned with the charity’s Financial Review and Reserves Policy, and will be funded and phased in a manner that maintains appropriate reserve levels and cash flow resilience. The trustees will monitor expenditure closely to ensure that financial commitments remain affordable and proportionate, and that sufficient unrestricted reserves are retained to manage operational risk and maintain continuity of provision.
The trustees wish to acknowledge the stability and quality of the provision, the effective leadership and teamwork of the staff, and the strategic decisions taken during the year that continue to strengthen the Cylch’s long-term viability and public benefit.
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CYLCH CAE TOP CIO
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
Financial review
During the year the charity had income of £360,972 (2024 - £347,385), expenditure of £319,216 (2024 - £312,890) and a closing cash reserve of £86,776 (2024 - £42,606).
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between two and four month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
Structure, governance and management
The charity is a Charitable Incorporated Organisation.
The trustees who served during the year and up to the date of signature of the financial statements were: H Ombler-Williams
H Davies
E Keily
Recruitment and appointment of trustees
New trustees are appointed by the existing Board following interview and completion of appropriate due diligence procedures.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
H Ombler-Williams
Trustee
6 February 2026
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CYLCH CAE TOP CIO
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CYLCH CAE TOP CIO
I report to the trustees on my examination of the financial statements of Cylch Cae Top CIO (the charity) for the year ended 30 April 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies and a member of the Association of Charity Independent Examiners, which is also one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Barrie Buels FCCA FCIE
Crestmere Limited Chartered Certified Accountants
Dated: 6 February 2026
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CYLCH CAE TOP CIO
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Charitable activities | 3 | 360,972 | 347,385 |
| Total income | 360,972 | 347,385 | |
| Expenditure on: | |||
| Charitable activities | 4 | 319,216 | 312,890 |
| Total expenditure | 319,216 | 312,890 | |
| Net income and movement in funds | 41,756 | 34,495 | |
| Reconciliation of funds: | |||
| Fund balances at 1 May 2024 | 36,016 | 1,521 | |
| Fund balances at 30 April 2025 | 77,772 | 36,016 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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CYLCH CAE TOP CIO
BALANCE SHEET
AS AT 30 APRIL 2025
| Notes Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets The funds of the charity Unrestricted funds 11 |
2025 £ 150 86,776 86,926 (9,154) |
£ 77,772 77,772 77,772 |
2024 £ - 42,606 42,606 (6,590) |
£ 36,016 |
|---|---|---|---|---|
| 36,016 | ||||
| 36,016 |
The financial statements were approved by the trustees on 6 February 2026
H Davies Trustee
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CYLCH CAE TOP CIO
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2025
| 2025 Notes £ Cash flows from operating activities Cash generated from/(absorbed by) operations 13 Net cash generated from investing activities Net cash generated from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2024 £ £ £ 44,170 (16,240) - - - - 44,170 (16,240) 42,606 58,846 86,776 42,606 |
|---|---|
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CYLCH CAE TOP CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1 Accounting policies
Charity information
Cylch Meithrin Cae Top is a Charitable Incorporated Organisation (CIO) which provides early years education facilities through the medium of the Welsh language. The CIO operates under the guidance of Mudiad Ysgolion Meithrin, a registered charity (England & Wales 1022320).
Formed on 9th May 2019, Cylch Meithrin Cae Top CIO replaced a previous venture registered with the Care Inspectorate Wales and operated by Ysgol Cae Top;
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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CYLCH CAE TOP CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
1 Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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CYLCH CAE TOP CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Children's fees | 198,441 | 219,925 |
| Grants | 162,531 | 127,460 |
| 360,972 | 347,385 |
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CYLCH CAE TOP CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
4 Expenditure on charitable activities
| Direct costs Staff costs Food and drink costs Materials and resources Training and sundry expenses Accountancy and Independent Examination Analysis by fund Unrestricted funds |
2025 £ 269,608 46,210 1,112 1,326 960 319,216 319,216 |
2024 £ 268,710 39,796 2,764 660 960 |
|---|---|---|
| 312,890 | ||
| 312,890 |
The charity operates from premises owned by Ysgol Cae Top. From time to time the trustees elect to make a payment to the school to offset the additional costs for premises usage and utilities in hosting the Cylch. These payments are voluntary and non-contractual. During the year no such payments were made.
5 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
6 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Other pension costs |
2025 Number 10 2025 £ 255,211 14,397 269,608 |
2024 Number 10 |
|---|---|---|
| 2024 £ 255,462 13,248 |
||
| 268,710 |
There were no employees whose annual remuneration was more than £60,000.
7 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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CYLCH CAE TOP CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
| 8 Debtors Amounts falling due within one year: Other debtors 9 Creditors: amounts falling due within one year Accruals and deferred income 10 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2025 £ 150 2025 £ 9,154 2025 £ 14,397 |
2024 £ - |
|---|---|---|
| 2024 £ 6,590 |
||
| 2024 £ 13,248 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 May 2024 Incoming resources Resources expended At £ £ £ General funds 36,016 360,972 (319,216) Previous year: At 1 May 2023 Incoming resources Resources expended At £ £ £ General funds 1,521 347,385 (312,890) |
30 April 2025 £ 77,772 |
|---|---|
| 30 April 2024 £ 36,016 |
12 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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CYLCH CAE TOP CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
| 13 Cash generated from/(absorbed by) operations Surplus for the year Movements in working capital: (Increase) in debtors Increase/(decrease) in creditors Cash generated from/(absorbed by) operations 14 Analysis of changes in net funds |
2025 2024 £ £ 41,756 34,495 (150) - 2,564 (50,735) 44,170 (16,240) |
|---|---|
The charity had no material debt during the year.
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