**CHARITY REGISTRATION NUMBER: 1204038** 

## **North Wales Mountain Rescue Association Unaudited Financial Statements** 

## **31 December 2025** 

## **BRUCE ROBERTS & CO LIMITED** 

Chartered Accountants and Business Advisors Unit 10, Edison Court Ellice Way Wrexham Technology Park Wrexham LL13 7YT 



## **North Wales Mountain Rescue Association** 

## **Financial Statements** 

## **Year ended 31 December 2025** 

||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**6**|
|Statement of financial activities|**7**|
|Statement of financial position|**8**|
|Notes to the financial statements|**9**|





## **North Wales Mountain Rescue Association** 

## **Trustees' Annual Report** 

## **Year ended 31 December 2025** 

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2025. 

## **Reference and administrative details** 

**Registered charity name** North Wales Mountain Rescue Association **Charity registration number** 1204038 **Principal office** Bryn Poeth Capel Curig Betws-Y-Coed LL24 0EU **The trustees** A Harbach G Brailsford (Appointed 24 April 2025) A Allcock (Appointed 24 April 2025) G Jones C Griffiths P Frost M Waters T Radford (Resigned 24 April 2025) **Independent examiner** Bruce Roberts FCA Unit 10, Edison Court Ellice Way Wrexham Technology Park Wrexham LL13 7YT 

## **Structure, governance and management** 

North Wales Mountain Rescue Association is a Charitable Incorporated Organisation governed by its constitution dated 20 July 2023 as amended 24 April 2025. 

The trustees who served during the year were: 

A Harbach G Jones M Waters P Frost C Griffiths T Radford Retired (24th April 2025) G Brailsford Appointed 24 April 2025) A Allcock Appointed 24 April 2025) 

Trustees are appointed by election at the AGM 

**1** 



## **North Wales Mountain Rescue Association** 

**Trustees' Annual Report** _**(continued)**_ 

**Year ended 31 December 2025** 

## **Objectives and activities** 

The charity's objects are : 

(1) To support members in relieving the suffering and distress amongst persons in difficulties in inhospitable terrain. 

(2) To provide a command-and-control function to coordinate emergency responses from member organisations. 

(3) To provide members of a management team to coordinate search and rescue incidents, and to assist in the provision of personnel as required. 

(4) To assist in the provision of training to achieve the above objects. 

(5) To represent North Wales charitable Search and Rescue Teams when working with regional, national, international, and governmental bodies. 

(6) To take a strategic lead in the provision of Search and Rescue services in North Wales, assisting charitable organisations in line with these objects. 

The Association comprises the volunteer organisations involved in Emergency Response in difficult access locations in the North Wales area, including six mountain rescue teams, one lowland rescue team, a cave rescue team, and a search dog team. Other organisations and partners may hold associate membership, and these are currently North Wales Police and the Royal Air Force Mountain Rescue Service. 

It holds regular general meetings when matters relevant to all the organisations involved in search and rescue are discussed. It provides training on specialist topics and encourages the standardisation of training levels and standards throughout the region. 

It supports the smaller teams both financially and administratively to ensure they are not disadvantaged. It also acts as the conduit for distributing grants to the region. 

The Association provides the lead in delivering effective rescue services across the whole of North Wales, linking the various organisations to maintain the highest service standards for those who need our help. 

It provides a link between the national body, Mountain Rescue England and Wales (MREW), and the teams, ensuring the flow of information in both directions and promoting best practices. 

The association can make grants to members to assist them with purchases when this is beyond the financial capabilities of the teams themselves. 

## **Public benefit** 

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake, and are satisfied that the activities as described within the report meet the public benefit requirements, thereby complying with the duty in section 4 of the Charities Act 2006 to have regard to the guidance provided by the Charity Commission. 

**2** 



## **North Wales Mountain Rescue Association** 

**Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **Achievements and performance** 

Mountain rescue in the United Kingdom is made up of volunteers who give their time freely to rescue people in difficulties. They undertake training to allow them to perform rescues to a professional and safe standard. The members of the executive committee also volunteer their time to manage the day-to-day running of the Charity. 

In addition to their roles within the North Wales Mountain Rescue Association (NWMRA) and its member teams, several NWMRA executive members are also involved in national meetings with MREW. 

The members of the Charity have given over 38,000 person-hours of rescue time during the reporting period. The MREW member teams specifically were called out on 715 occasions. The busiest team in the England and Wales is Llanberis Mountain Rescue Team, a member of NWMRA. They were called out 357 times over the course of the year. 

As well as individual teams responding to incidents, we occasionally have incidents where a regional response is appropriate. In 2025 NWMRA was involved in planning for severe weather events such as named storms.  We also participated in a national pandemic preparedness exercise. 

It is essential that member teams are trained to allow them to carry out safe and effective search and rescue operations. The Charity has supported regional training that is more cost-effective than all members hosting their own duplicate training. It also gives members an opportunity to work together and get to know each other's skills before they are required to perform large and complex rescues together. 

NWMRA funded £15,367 of training, training equipment and associated costs in 2025. Training provided includes Technical Rope Rescue, Swiftwater Rescue, Remote Rescue Medical Technician, 4x4 Off Road Driving, Search Management and Fundraising. We have provided well over 100 training places, with trainers often providing their time without cost. 

Sadly the North Wales mountain rescue teams dealt with 23 fatalities in 2025. This, alongside some seriously injured casualties, can take a mental toll on our members. To help manage these issues NWMRA works with local counsellors to provide support for the mental wellbeing of our members. This important service saw NWMRA funding counselling for 5 clients at a cost of £730 in 2025. We anticipate demand for this new service may grow as it becomes better known amongst volunteers. 

NWMRA encourages member organisations to request support with projects that meet the objects of NWMRA but are too financially demanding for the members to fund on their own. The most significant project supported by NWMRA in 2025 was to provide South Snowdonia Search and Rescue Team with a safe method of getting drinking water at their remote rescue base. NWMRA provided a grant of £19,190.40 during 2025 for this project. 

Members of the NWMRA executive committee are involved in regular meetings with external agencies such as North Wales Police, The Local Search & Rescue Committee, The Local Resilience Forum, Mountain Training Cymru, Adventure Smart Wales, The National Park Authority, and the Welsh Government. 

NWMRA is pleased that Liz Saville Roberts MP for Dwyfor Meirionnydd took on a position on the All-Party Parliamentary Group (APPG) on Volunteer Rescue. This group has been successful in lobbying government to support volunteer mountain rescue teams through the exemption of Vehicle Excise Duty in the 2025 budget. 

A second series of SOS Extreme Rescues was broadcast in late summer. This series features all the 

**3** 



## **North Wales Mountain Rescue Association** 

**Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 December 2025** 

mountain rescue teams operating in the Snowdonia National Park. Feedback from members of the public and colleagues in other regions was extremely positive. The film crew also produced videos for NWMRA teams to use to raise awareness of what we do alongside important safety messaging. The videos can be seen at https:/ /nwmra.org/media 

We were pleased to hear that Iain Ashcroft, our operations officer, and his wife Becky Ashcroft who are both members of North East Wales Search and Rescue were awarded MBEs in the King's Birthday Honours list for their services to mountain rescue. 

## **Financial review** 

The majority of funds raised by the charity come from bequests, and donations made via Paypal, along with grants from the Paypal Charity grant system. 

During the reporting period significant income came from 

- North Wales Freemasons (£20,532) 

- Grant from Ogwen Valley Mountain Rescue Association (£12,000 over three years) for additional training of Mountain Rescue Volunteers in North Wales 

- Darlun TV (£2500) 

- Savings account interest (£7,184) 

- Welsh Government grant (£7,800)for medical equipment and training in 2025 

We are continuing to work with our colleagues in South Wales (SWSARA) to negotiate a grant from Welsh Government to be distributed among all members of NWMRA and SWSARA teams. 

In the year the charity received fund income for all sources, both restricted and unrestricted of £59,477 (2024 £244,448) and had expenditure that ampounted to £51,497 (2024 £45,170). It should be noted that last year's income included the passing over of funds held by the charity's predecessor charity, which were transferred to the new CIO upon creation. 

The Charity's funds are stored in several bank accounts. The Trustees take steps to ensure all accounts are kept below £120,000 to provide protection if a financial institution goes out of business. The Trustees aim to achieve competitive rates of interest on their accounts. Whilst the interest on the accounts is low, the investment risk is also low, which fits with the Trustees' view of risk. 

It is the charity's policy that unrestricted funds that have not been designated for a specific use should be maintained at a level equivalent to two years' 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. At the same time, consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. 

**4** 



## **North Wales Mountain Rescue Association** 

**Trustees' Annual Report** _**(continued)**_ 

## **Year ended 31 December 2025** 

The Trustees also designated £80,000 as a reserved fund to deal with an unforeseen issue, such as a member team losing a vehicle or suffering a fire at their base. 

In the coming year all members of mountain rescue teams in England and Wales will be required to undergo DBS checks. This will have a financial impact on teams, and the Trustees are reserving £4,500 to assist members with this expenditure. 

From 2026 the insurance for vehicles which has previously been financed by MREW will be reduced to a maximum of 2 vehicles per team. From 2027 no vehicles will be financially covered by MREW. MREW will also not be paying for stretcher services as of January 2026. This is likely to have a significant impact on some of the teams in the region. The Trustees are reserving £25,000 to assist members with these expenditures. 

The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. 

The trustees' annual report was approved on 23[rd] April 2026 and signed on behalf of the board of trustees by: 

A Harbach Trustee 

**5** 



# **North Wales Mountain Rescue Association** 

## **Independent Examiner's Report to the Trustees of North Wales Mountain Rescue Association** 

## **Year ended 31 December 2025** 

I report to the trustees on my examination of the financial statements of North Wales Mountain Rescue Association ('the charity') for the year ended 31 December 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 (‘the Act’). 

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 

2. the financial statements do not accord with those records; or 

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 

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. 

Bruce Roberts FCA Independent Examiner 

Unit 10, Edison Court Ellice Way Wrexham Technology Park Wrexham LL13 7YT 

6[th] May 2026 

**6** 



## **North Wales Mountain Rescue Association** 

## **Statement of Financial Activities** 

## **Year ended 31 December 2025** 

||||**2025**||2024|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|40,393|12,000|52,393|234,258|
|Charitable activities|**5**|–|–|–|3,155|
|Investment income|**6**|7,184|–|7,184|7,035|
|||----------------------------|----------------------------|----------------------------|--------------------------------|
|**Total income**||47,577|12,000|59,577|244,448|
|||============================|============================|============================|================================|
|**Expenditure**||||||
|Expenditure on charitable activities|**7,8**|50,581|916|51,497|45,170|
|||----------------------------|----------------------------|----------------------------|--------------------------------|
|**Total expenditure**||50,581|916|51,497|45,170|
|||============================|============================|============================|================================|
|||----------------------------|----------------------------|----------------------------|--------------------------------|
|**Net income and net movement in**|**funds**|(3,004)|11,084|8,080|199,278|
|||============================|============================|============================|================================|
|**Reconciliation of funds**||||||
|Total funds brought forward||199,278|–|199,278|–|
|||--------------------------------|----------------------------|--------------------------------|--------------------------------|
|**Total funds carried forward**||196,274|11,084|207,358|199,278|
|||================================|============================|================================|================================|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 9 to 15 form part of these financial statements.** 

**7** 



## **North Wales Mountain Rescue Association** 

## **Statement of Financial Position** 

## **31 December 2025** 

|||**2025**|2024|
|---|---|---|---|
||**Note**|**£**|£|
|**Current assets**||||
|Debtors|**12**|2,025|–|
|Cash at bank and in hand||209,138|199,861|
|||--------------------------------|--------------------------------|
|||211,163|199,861|
|**Creditors: amounts falling due within one year**|**13**|3,805|583|
|||--------------------------------|--------------------------------|
|**Net current assets**||207,358|199,278|
|||--------------------------------|--------------------------------|
|**Total assets less current liabilities**||207,358|199,278|
|||--------------------------------|--------------------------------|
|**Net assets**||207,358|199,278|
|||================================|================================|
|**Funds of the charity**||||
|Restricted funds||11,084|–|
|Unrestricted funds||196,274|199,278|
|||--------------------------------|--------------------------------|
|**Total charity funds**|**14**|207,358<br>================================|199,278<br>================================|



These financial statements were approved by the board of trustees and authorised for issue on 23[rd] April 2026, and are signed on behalf of the board by: 

M Waters Trustee 

**The notes on pages 9 to 15 form part of these financial statements.** 

**8** 



## **North Wales Mountain Rescue Association** 

## **Notes to the Financial Statements** 

## **Year ended 31 December 2025** 

## **1. General information** 

The charity is a Public Benefit Entity as defined by FRS 102 and is a Charitable Incorporated Organisation, governed by its constitution and registered in England and Wales. The address of the principal office is Bryn Poeth, Capel Curig, Betws-y-Coed, LL24 0EU. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue. 

## **Disclosure exemptions** 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. 

## **Judgements and key sources of estimation uncertainty** 

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. 

**9** 



## **North Wales Mountain Rescue Association** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **3. Accounting policies** _**(continued)**_ 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 

## **Incoming resources** 

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- legacy income is recognised when receipt is probable and entitlement is established. 

- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. 

- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 

**10** 



## **North Wales Mountain Rescue Association** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **3. Accounting policies** _**(continued)**_ 

## **Resources expended** 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: 

- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. 

- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **4. Donations and legacies** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2025**|
||£|£|**£**|
|**Donations**||||
|Donations and legacies|32,593|–|32,593|
|**Grants**||||
|Grant Income|7,800|12,000|19,800|
|**Other donations and legacies**||||
|Transfer from previous entity|–|–|–|
||----------------------------|----------------------------|----------------------------|
||40,393|12,000|52,393|
||============================|============================|============================|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2024|
||£|£|£|
|**Donations**||||
|Donations and legacies|86,065|–|86,065|
|**Grants**||||
|Grant Income|7,800|–|7,800|



**11** 



## **North Wales Mountain Rescue Association** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **4. Donations and legacies** _**(continued)**_ 

||||Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|---|
||||Funds|Funds|2024|
||||£|£|£|
||**Other donations and legacies**|||||
||Transfer from previous entity||140,393|–|140,393|
||||--------------------------------|--------------|--------------------------------|
||||234,258|–|234,258|
||||================================|==============|================================|
|**5.**|**Charitable activities**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2025**|Funds|2024|
|||£|**£**|£|£|
||Other charitable income|–|–|3,155|3,155|
|||==============|==============|=======================|=======================|
|**6.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2025**|Funds|2024|
|||£|**£**|£|£|
||Bank interest receivable|7,184|7,184|7,035|7,035|
|||=======================|=======================|=======================|=======================|
|**7.**|**Expenditure on charitable activities by fund type**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2025**|
||||£|£|**£**|
||Expenditure on charitable activities (all Funds)||50,581|916|51,497|
||||============================|==============|============================|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2024|
||||£|£|£|
||Expenditure on charitable activities (all Funds)||45,170|–|45,170|
||||============================|==============|============================|



**12** 



## **North Wales Mountain Rescue Association** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **8. Expenditure on charitable activities by activity type** 

A further breakdown of costs is as below 

||Unrestricted|Restricted|||
|---|---|---|---|---|
||2025|2025|Total 2025|2024|
||**£**|**£**|**£**|£|
|Sundry costs|147|–|147|52|
|Digital radio network costs|894|–|894|2,090|
|Non operational training|1,891|–|1,891|–|
|Accountancy and independent|||||
|examination|960|–|960|350|
|Office costs|1,262|–|1,262|907|
|Bank charges|126|–|126|111|
|Training costs|14,452|916|15,368|9,369|
|Other charitable activity costs|–|–|–|6,620|
|Grants to member teams|30,119|–|30,119|25,671|
|Counselling|730|–|730|–|
||----------------------------|--------------|----------------------------|----------------------------|
|Totals|50,581|916|51,497|45,170|
||============================|==============|============================|============================|
|**Independent examination fees**|||||
||||**2025**|2024|
||||**£**|£|
|Fees payable to the independent|examiner for:||||
|Independent examination of the financial statements|||900<br>==============|420<br>==============|



## **9. Independent examination fees** 

## **10. Staff costs** 

The average head count of employees during the year was Nil (2024: Nil). 

No employee received employee benefits of more than £60,000 during the year (2024: Nil). 

## **11. Trustee remuneration and expenses** 

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees 

## **12. Debtors** 

Prepayments and accrued income 

**2025** 2024 **£** £ – 2,025 ======================= ============== 

**13** 



## **North Wales Mountain Rescue Association** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **13. Creditors: amounts falling due within one year** 

||**2025**|2024|
|---|---|---|
||**£**|£|
|Trade creditors|2,905|163|
|Accruals and deferred income|900|420|
||-----------------------|--------------|
||3,805|583|
||=======================|==============|



## **14. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**|||||||
|---|---|---|---|---|---|---|
|||At||||**At**|
||1 January|20||||**31 Decembe**|
|||25|Income|Expenditure|Transfers|**r 2025**|
||£||£|£|£|£|
|General funds|119,278||47,577|(50,581)|(29,500)|86,774|
|Unforeseen Events|||||||
|designated Fund|80,000||–|–|–|80,000|
|DBS check designated|||||||
|fund||–|–|–|4,500|4,500|
|Insurance and stretcher|||||||
|services designated|||||||
|fund||–|–|–|25,000|25,000|
||--------------------------------||----------------------------|----------------------------|----------------------------|--------------------------------|
||199,278||47,577|(50,581)|–|196,274|
||================================||============================|============================|============================|================================|
|||At||||At|
||1 January|20||||31 December|
|||24|Income|Expenditure|Transfers|2024|
||£||£|£|£|£|
|General funds||–|244,448|(45,170)|(80,000)|119,278|
|Unforeseen Events|||||||
|designated Fund||–|–|–|80,000|80,000|
|DBS check designated|||||||
|fund||–|–|–|–|–|
|Insurance and stretcher|||||||
|services designated|||||||
|fund||–|–|–|–|–|
||--------------||--------------------------------|----------------------------|----------------------------|--------------------------------|
|||–|244,448|(45,170)|–|199,278|
||==============||================================|============================|============================|================================|



**14** 



## **North Wales Mountain Rescue Association** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 December 2025** 

## **14. Analysis of charitable funds** _**(continued)**_ 

## **Restricted funds** 

||**Restricted funds**||||||
|---|---|---|---|---|---|---|
|||||||**At**|
|||At||||**31 December**|
|||1 January 2025|Income|Expenditure|Transfers|**2025**|
|||£|£|£|£|£|
||Ogwen Valley MRT||||||
||training fund|–|12,000|(916)|–|11,084|
|||==============|============================|==============|==============|============================|
|||||||At|
|||At||||31 December|
|||1 January 2024|Income|Expenditure|Transfers|2024|
|||£|£|£|£|£|
||Ogwen Valley MRT||||||
||training fund|–|–|–|–|–|
|||==============|==============|==============|==============|==============|
|**15.**|**Analysis of net assets between funds**||||||
|||||Unrestricted|Restricted|<br>**Total Funds**|
|||||Funds|Funds|**2025**|
|||||£|£|**£**|
||Current assets|||200,079|11,084|211,163|
||Creditors less than 1 year|||(3,805)|–|(3,805)|
|||||--------------------------------|----------------------------|--------------------------------|
||**Net assets**|||196,274|11,084|207,358|
|||||================================|============================|================================|
|||||Unrestricted|Restricted|<br>Total Funds|
|||||Funds|Funds|2024|
|||||£|£|£|
||Current assets|||199,861|–|199,861|
||Creditors less than 1 year|||(583)|–|(583)|
|||||--------------------------------|--------------|--------------------------------|
||**Net assets**|||199,278|–|199,278|
|||||================================|==============|================================|



**15**