REGISTERED COMPANY NUMBER: 11910951 (Wales) REGISTERED CHARITY NUMBER: 1194355
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2025
for
Melin Daron Cyf
Dunn & Ellis Cyf Chartered Accountants Adeilad St David's Building Stryd Lombard Street Porthmadog Gwynedd LL49 9AP
Melin Daron Cyf
Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 13 |
| Detailed Statement of Financial Activities | 14 |
Melin Daron Cyf
Report of the Trustees for the Year Ended 31 March 2025
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 31 March 2025. 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).
Our Vision
We are a charitable community-based organisation with a 99 year lease on the property, and are focused on restoring and developing Aberdaron's historic grade II water mill, which dates from 1252.
We plan to restore this important asset to our community for educational, tourism and heritage purposes.
Our vision is for school-children to grind locally grown corn into flour and bake bread in the adjacent Islyn Bakery on the same day, and for visitors to share this experience.
We are keen to work with other local heritage centres such as Plas Carmel, National Trust's Porth y Swnt and Plas yn Rhiw. We have also joined the Heritage Trust Network Society for the Preservation of Ancient Buildings and the Welsh Mills Society.
OBJECTIVES AND ACTIVITIES
Objectives and aims
Our Charitable Objective is to promote the conservation and preservation of Melin Daron into a working demonstration mill. This being so as to advance education by developing people’s individual capabilities, competencies, skills and understanding of the study and management of milling in the context of local Llyn history and culture and by operating a Museum and Lecture facility to display cultural, historic and scientific items of interest.
Significant activities
Despite the difficulties arising from covid restrictions, the work, to develop the Mill and push our vision for it forward, continued at a pace. Examples of the activities undertaken during the year are:
- Thanks to a grant from Gwynedd County Council Ardal o Harddwch Naturiol Eithriadol Llyn fund we have been able to instruct Jones & Williams to proceed with structural repairs to the stable gable end.
Public benefit
The trustees have complied with their duties as set out in Section 17(5) of the 2011 Charities Act to have due regard to the public benefit guidance published by the Charity Commission.
The intention is to restore Melin Daron to a working mill after many years of neglect to form the focal point of a community inspired development. Melin Daron is a Grade II listed building (CADW ref.19992), a substantial village corn-mill of vernacular type, and, despite the loss of the wheel, still retains its character as a rural industrial building.
A mill has been on this site since 1252, and it is thought that Melin Daron in its current from dates from 1860. In more recent times several grand plans have been proposed to re-develop the Mill and adjacent buildings but none came to fruition.
Our plans are simpler - to restore just the Mill building for educational, community and tourism benefits.
Melin Daron Cyf also has excellent support from the community for this project, and with this level of support, we are very positive that our more modest plans will bring success.
Page 1
Melin Daron Cyf
Report of the Trustees
for the Year Ended 31 March 2025
FINANCIAL REVIEW
Reserves policy
The charitable company's policy is to maintain an adequate reserve that will allow it to carry out its objective of renovating and restoring the mill, in line with its charitable objectives.
Once this first phase of the plan is complete, the aim will be to maintain sufficient reserves so as to allow it to carry on its day-to-day charitable activates, but at this early stage it is not possible to detail any set figures as to what an adequate reserve would be.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity is controlled by its governing documents, the articles & memorandum of association, and constitutes a charitable limited company, limited by guarantee, as defined by the Companies Act 2006.
Charity constitution
Melin Daron Cyf is a private charitable company limited by guarantee without share capital. It is registered at Companies House under the reference 11910951, and was formally registered at the Charity Commission on the 6th May 2021, under the registration number 1194355.
Recruitment and appointment of new trustees
Appointment of directors
The charity may by ordinary resolution:
-
appoint a person who is willing to act to be a director; and
-
determine the rotation in which any additional directors are to retire.
Directors
A director must be a natural person aged 16 years or older.
No one may be appointed a director if he or she would be disqualified from acting under the provisions of article 39.
Minimum number of directors
The minimum number of directors shall be four but (unless otherwise determined by ordinary resolution) shall not be subject to any maximum.
The first directors
The first directors shall be those persons notified to Companies House as the first directors of the charity.
Alternate Director
A director may not appoint an alternate director or anyone to act on his or her behalf at meetings of the directors.
Remuneration of directors
The directors must not be paid any remuneration unless it is authorised by article 7 of the governing document.
Related party transactions and trustees' expenses and remuneration
The trustees, in their capacity as such, give their time and expertise without any form of remuneration or other benefit in cash or kind and there were no expenses paid to the trustees in the year (2024: Nil).
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 2
Melin Daron Cyf
Report of the Trustees
for the Year Ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Liability of members
The liability of the members is limited to a sum not exceeding £10, being the amount that each member undertakes to contribute to the assets of the charity in the event of its being wound up while he, she or it is a member or within one year after he, she or it ceases to be a member, for:
-
payment of the charity's debts and liabilities incurred before he, she or it ceases to be a member;
-
payment of the costs, charges and expenses of winding up; and
-
adjustment of the rights of the contributories among themselves.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
11910951 (Wales)
Registered Charity number
1194355
Registered office
Bryn Gwynt Anelog Aberdaron Pwllheli Gwynedd LL53 8BT
Trustees
Mr S M Bull Operation Manager Mr G Roberts Archaeologist and Engineer Mr G Jones Baker Director Mr S S Jones Cheese Manufactrer Mrs J L G Jones Banker
Company Secretary
Mrs G Jones
Independent Examiner
Mr Iorwerth Ll. Williams Dunn & Ellis Cyf Chartered Accountants Adeilad St David's Building Stryd Lombard Street Porthmadog Gwynedd LL49 9AP
Bankers
Natwest Bank 34 High Street Pwllheli Gwynedd LL53 5SD
Page 3
Melin Daron Cyf
Report of the Trustees
for the Year Ended 31 March 2025
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mrs G Jones - Secretary
Page 4
Independent Examiner's Report to the Trustees of Melin Daron Cyf
Independent examiner's report to the trustees of Melin Daron Cyf ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
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
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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
-
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.
Mr Iorwerth Ll. Williams
Dunn & Ellis Cyf Chartered Accountants Adeilad St David's Building Stryd Lombard Street Porthmadog Gwynedd LL49 9AP
Date: .............................................
Page 5
Melin Daron Cyf
Statement of Financial Activities for the Year Ended 31 March 2025
| 31.3.25 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 752 Charitable activities Melin Daron general fund 203,793 Total 204,545 EXPENDITURE ON Charitable activities Melin Daron general fund 3,966 Governance & depreciation - Total 3,966 NET INCOME/(EXPENDITURE) 200,579 RECONCILIATION OF FUNDS Total funds brought forward 76,728 TOTAL FUNDS CARRIED FORWARD 277,307 |
31.3.24 Total funds £ 6,894 12,100 18,994 20,945 (1,375) 19,570 (576) 77,304 76,728 |
|---|---|
The notes form part of these financial statements
Page 6
Melin Daron Cyf
Balance Sheet
31 March 2025
| 31.3.25 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 274,225 CURRENT ASSETS Debtors 7 8,195 Cash at bank 4,758 12,953 CREDITORS Amounts falling due within one year 8 (9,871) NET CURRENT ASSETS 3,082 TOTAL ASSETS LESS CURRENT LIABILITIES 277,307 NET ASSETS 277,307 FUNDS 9 Unrestricted funds 277,307 TOTAL FUNDS 277,307 |
31.3.24 Total funds £ 69,750 419 12,194 12,613 (5,635) 6,978 76,728 76,728 76,728 76,728 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.
The notes form part of these financial statements
continued...
Page 7
Melin Daron Cyf
Balance Sheet - continued
31 March 2025
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 ............................................. and were signed on its behalf by: ............................................. Mr G Jones - Trustee ............................................. Mr R Milnes - Trustee ............................................. Mr S M Bull - Trustee ............................................. Mrs J Milnes - Trustee ............................................. Mr G Roberts - Trustee
The notes form part of these financial statements
Page 8
Melin Daron Cyf
Notes to the Financial Statements for the Year Ended 31 March 2025
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.
The trustees state that there are no material uncertainties surrounding the charity's ability to continue as a going concern. Consequently, these financial statements have been prepared on the basis that the charity is able to carry on its activities as a going concern for at least the twelve months following the approval of these statements and have adopted the accruals model for recording their income and expenditure.
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.
Tangible fixed assets
Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Lease of the land and buildings
Forming part of Y Felin, Aberdaron, under title number CYM646524, is leased over a 99 year term and commenced on 19 June 2019. The lease was acquired at no initial outlay and is amortised over the length of the lease term.
Improvements to the leased land & buildings
Once renovations are completed, the cost will be depreciated on a straight line basis over the remaining term of the lease. Until that point, the renovation costs incurred will not be depreciated as there is no deemed value in use.
Plant & machinery etc
Depreciated on a writhing down basis at a rate of 20% per annum.
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.
continued...
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Melin Daron Cyf
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
1. ACCOUNTING POLICIES - continued
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. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.3.25 | 31.3.24 | ||
|---|---|---|---|
| £ | £ | ||
| Other operating leases | 1 | - |
3. INDEPENDENT EXAMINERS' REMUNERATION
The independent examiner's remuneration constituted an examination fee of £945 (2023: £Nil) with an additional £620 (2024: £565) for accountancy and other non-examination services.
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 6,894 |
| Charitable activities | |
| Melin Daron general fund | 12,100 |
| Total | 18,994 |
| EXPENDITURE ON | |
| Charitable activities | |
| Melin Daron general fund | 20,945 |
| Governance & depreciation | (1,375) |
| Total | 19,570 |
| NET INCOME/(EXPENDITURE) | (576) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 77,304 |
continued...
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Melin Daron Cyf
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|---|
| Unrestricted | |||||
| fund | |||||
| £ | |||||
| TOTAL FUNDS CARRIED FORWARD | 76,728 | ||||
| 6. | TANGIBLE FIXED ASSETS | ||||
| Improvements | |||||
| to | |||||
| property | |||||
| £ | |||||
| COST | |||||
| At 1 April 2024 | 69,750 | ||||
| Additions | 204,475 | ||||
| At 31 March 2025 | 274,225 | ||||
| NET BOOK VALUE | |||||
| At 31 March 2025 | 274,225 | ||||
| At 31 March 2024 | 69,750 | ||||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.25 | 31.3.24 | ||||
| £ | £ | ||||
| VAT | 8,106 | 330 | |||
| Prepayments | 89 | 89 | |||
| 8,195 | 419 | ||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.25 | 31.3.24 | ||||
| £ | £ | ||||
| Trade creditors | 8,306 | 5,070 | |||
| Accrued expenses | 1,565 | 565 | |||
| 9,871 | 5,635 | ||||
| 9. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.4.24 | in funds | 31.3.25 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 76,728 | 200,579 | 277,307 | ||
| TOTAL FUNDS | 76,728 | 200,579 | 277,307 |
continued...
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Melin Daron Cyf
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 204,545 TOTAL FUNDS 204,545 Comparatives for movement in funds At 1.4.23 £ Unrestricted funds General fund 77,304 TOTAL FUNDS 77,304 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 18,994 TOTAL FUNDS 18,994 A current year 12 months and prior year 12 months combined position is as follows: At 1.4.23 £ Unrestricted funds General fund 77,304 TOTAL FUNDS 77,304 |
Resources Movement expended in funds £ £ (3,966) 200,579 (3,966) 200,579 Net movement At in funds 31.3.24 £ £ (576) 76,728 (576) 76,728 Resources Movement expended in funds £ £ (19,570) (576) (19,570) (576) Net movement At in funds 31.3.25 £ £ 200,003 277,307 200,003 277,307 |
|---|---|
continued...
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Melin Daron Cyf
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
9. 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 TOTAL FUNDS |
Incoming resources £ 223,539 223,539 |
Resources Movement expended in funds £ £ (23,536) 200,003 (23,536) 200,003 |
|---|---|---|
10. RELATED PARTY DISCLOSURES
The land & buildings forming part of Y Felin, Aberdaron, under title number CYM646524, is leased to the Charitable Company by a trustee, Mr G Jones, and his wife, at a rate that is considered to be below the market rate.
No donation was made to Melin Daron Cyf during the year to March 2025 (2024: £Nil) , through the company that they own.
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Melin Daron Cyf
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
| Detailed Statement of Financial Activities for the Year Ended 31 March 2025 |
||
|---|---|---|
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 752 | 894 |
| Donated services and facilities | - | 6,000 |
| 752 | 6,894 | |
| Charitable activities | ||
| Specific purpose grants | 203,793 | 12,100 |
| Total incoming resources | 204,545 | 18,994 |
| EXPENDITURE | ||
| Charitable activities | ||
| Other operating leases | 1 | - |
| Advertising | 17 | 321 |
| Subscriptions & memberships | 160 | 130 |
| Repairs & renewals | - | 65 |
| Professional costs | 2,223 | 18,489 |
| 2,401 | 19,005 | |
| Support costs | ||
| Governance costs | ||
| Examiner's remuneration | 945 | - |
| Accountancy fees | 620 | 565 |
| 1,565 | 565 | |
| Total resources expended | 3,966 | 19,570 |
| Net income/(expenditure) | 200,579 | (576) |
This page does not form part of the statutory financial statements
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