Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 Charity number: 1205167 CASTELL HOWELL FOODS CHARITABLE FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION CONTENTS Page Reference and Administrative Details of the Charity. its Trustees and Advisers Trustees. Report Trustees. Responslbllltles Statement Independent Examiner's Report ststement of Flnanclal Aetlvltles Balance Sheet Notes to the Flnanclal Statements 9-14
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION REFERENCE ANO ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 OCTOBER 2024 Trustees Gethin T Thomas, Chair Edward Morgan, Trustee Gayle Budden, Trustee James Nigel Owen Williams. Trustee Ffion Haf Moseley, Trustee Charity registered number 1205167 Principal office Castell Howell Foods Limited Cross Hands Food Park SA14 6SX Accountants MHA Chartered Accountants MHA House Charter Court Swansea Enterprise Park Swansea SA7 gFS Page 1
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE PERIOD ENDED 31 OCTOBER 2024 The trustees present their report with the financial statements of the charity for the year ended 31 October 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims Public benefit In Complian with their duly under section 17151 of the Charities Act 2011, the Trustees have had due regard to the gLJidance published by the Charity Commission regarding public benefit and they and the Charity are ever mindful of the legal requirement that its purposes, i.e. its objects, musl be for the public benefit pursuant to the Act, so that the public, whether local, national or inlernab.onal benefit generally. The Foundation's charitable objectives are for public benefit to promote following.. Relief of poverty and improvement of life conditions for disadvantaged individuals. Environmental preservation and sustainability. - Advanment of sustainable food systems and diets. Education on healthy eating. Preservation of Welsh culture and heritage. The Foundation achieves these objectives through the grants it awards to the community. Achievements and Perfomiance In its first year, the Foundation received a £250,000 donation from Castell Howell Foods Limited. enabling it to begin fulfilling its mission. The Foundation used these funds lo help support the following charities during the year.. Clwb Rygbi Ddraig Goch Gaiman Faith in Families Charity The Dean & Chapter of Brecon Cathedral Invictus Charity Noah's Ark Children's Charity Swansea Bay Foundation ABC of Opera Limited The Foundation also granted a number Supply Chain Development Grants during the year. During the year the Foundation made a surplLJS of £161,400 and held Ljnrestricted reserves of £161,400 al the year end. The Foundation does not have any formal reserves policy and will hold funds to support ils mission. Structure? governance and management Castell Howell Charitable Foods Foundation is a registered charity, controlled by its governing document and is constituted as a charitable incorporated organisalion. Methods of appointment or election of Trustees The management of the charity is the responsibility of the Trustees, who are elected under the terms of the governing document. Page 2
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE PERIOD ENDED 31 OCTOBER 2024 Induction and training of Trustees Trustees r1ve training and induction as required, depending upon their background and their roles as Iruslees in other charities. Skill shortages of the board are kept under regular review. Risk management The Iruslees have identified and reviewed the risks to which the charity is exposed and have implemented appropriate systems and controls to manage those risks. The main risk facing the charity is the sourcing of funds., at present the charity is reliant upon a single donor, who is also considered a related paty of the charity. The Iruslees do not expect a reduction in support from the main donor in the foreseeable future. As the main expenditure of the charity are grants, which are at the discretion of the trustees, the trustees consider that the charity is a going concern. Approved by order of the members of the board of Trustees and signed on their behalf by.. James Nigel Owen Williams Dale.. June 19, 2025 Page 3
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE PERIOD ENDED 31 OCTOBER 2024 The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢pted Accounting Practi}. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the stale of affairs of the Charity and of ils incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements. the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent,. stale whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financial stalemenls., prepare the financial slalements on the going concern basis unless il is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy at 8ny time the financial position of the Charity and enable them to ensure that the fi'nancial slalemenls comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on its behalf by.. W Wi0)5 James Nlgel Owen Wllllams Dale.. June 19. 2025 Page 4
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 OCTOBER 2024 Independent Examinerfs Report to the Trustees of CASTELL HOWELL FOODS CHARITABLE FOUNDATION I'the Charity.) report to the charity Trustees on my examination of the accounts of the Charity for the period ended 31 October 2024. Responslbllltles and Basls of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Ael 2011 {'Ihe 2011 Acl'l. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515}Ibl of the 2011 Act. Independent Examiner's Statement Your attention is drawn lo the fact that the Charity has prepared the accounts in accordance with 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 IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the exlanl regulations bul has been withdrawn. I have completed my examination. I confimi that no matters have come lo my allenlion in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records,. or the accounts do not comply wth the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf 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 lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed= Dated.. 19 June 2025 Rachel DoWe ACA DChA MHA Chartered Accountsnts MHA House Charter Court Swansea Enterprise Park Swansea SA7 9FS MHA is the trading name of MHA Audit SeNices LLP, a limited liability partnership in England and Wales (registered number OC4555421 Page 5
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 OCTOBER 2024 Unrestricted funds 2024 Total funds 2024 Note Income from: Donations and legacies 250,000 250,000 Total income 250,000 250,000 Expenditure on: Charitable activities 88,600 88,600 Total expenditure 88,600 88,600 Net movement In funds 161,400 161,400 Reconclllatlon of funds.. Nel movement in funds 161,400 161,400 Total funds carried fonNard 161,400 161,400 The Ststemenl of Financial Activities includes all gains and losses recognised in the period. The notes on pages g 10 14 form part of these financial statements. Page 6
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION BALANCE SHEET AS AT 31 OCTOBER 2024 2024 Note Current assets Cash al bank and in hand 170.000 170.000 Current liabilities Creditors.. amounts falling due within one year 18,600} Net current assets 161,400 Total assets less current liabilities 161,400 Net assets excluding pension asset 161,400 Total net assets 161,400 Charity funds Reslricled funds 10 Unreslricled funds 10 161,400 Total funds 161,400 Page 7
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION BALANCE SHEET ICONTINUEDI AS AT 31 OCTOBER 2024 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. James Nlgel Owen Wllllams Dale.. June 19, 2025 The notes on pages 9 10 14 form part of these financial statements. Page 8
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024 General information Castell Howell Foods Charitable Foundation is a charitsble company limited by guarantee and is gistered with the Charity Commission in England and Wales (Charity Registered Number.. 12051671. In the event of the Charity being wound up, the liability in respect of the guarantee is limited lo £1 per Member of the Charity. The address of the registered office is given in the Charity information on page 1 of these financial slalements. The nature of the Charills operations and principal activities are detailed in the Trustees. Report. The significant accounting policies applied in the preparation of these financial slalemenls are sel out below. These policies h8ve been consislenlly applied to all years presented unless olhetwise staled. Accountlng pollcles 2.1 Basis of preparation of financial statgmgnts The financial statements have been prepared in accordance with the Charities SORP {FRS 102} Accounting and Reporting by Charities.. Statement of Recommended Praetice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Castell Howell Foods Charitsble Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy. The financial statements are prepared in sterling which is the functional and presentational currency of the Foundation and are rounded lo the nearest pound. 2.2 Going concern IThe trustees ¢onsider that there are no material UnrtaIntieS about the Charity's ability to continue as a going concern and on that basis, the financial statements are prepared on a going ¢on¢ern basis. Page 9
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024 Accounting policies (continued) 2.3 Significant judgements and estimates In the application of the charills accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors which are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods. Provisions and contin encies Provisions are recognised when the Charity has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Othemise, material conlingenl liabilities are disclosed unless a transfer of economic benefits is considered remote. Conlingenl assets are only disclosed if an inflow of economic benefits is probable. 2.4 Income All income is recognised once the Charity has entitlement to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Other income is recognised in the period in which it is receivable and lo the exlenl the goods have been provided or on completion of the service. 2.5 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit lo a third party, il 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 lotsl of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs allribulable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support costs which are not allribulable lo a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central stsff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject lo Conditions which have not been met al the period end are noted as a commitment, bul not accrued as expenditure. 2.6 Charitable activities Costs of charitable activities include grants made and governance costs. Page 10
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024 Accounting policies (continued) 2.7 Governance costs Governance costs comprise all costs involving the public accountability of the charity and ils compliance with regulation and good practice. These costs included costs relating lo examination fees and legal fees. 2.8 Taxatlon The charity is exempt from lax on ils charitable aclivilies. Irrecoverable VAT is ch8rged against the expenditure heading for which il wss incurred. 2.9 Cash at bank and In hand Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short malurily of three months or less from the date of acquisition or opening of the deposit or similar account. 2.10 Llabllltles and provlslons Liabilities are recognised when there is an obligation al the Balance Sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay lo settle the debt or the amount il has received as advanced payments for the goods or seNices it must provide. Provisions are measured al the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.11 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 al transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.12 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Page 11
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024 Income from donations and legaeies Unrestricted funds 2024 Total funds 2024 Donations 250,000 250,000 Analysis of grants Grants to Institutions 2024 Total funds 2024 Grants 85,000 85,000 Grants paid 2024 Clwb Rygbi Ddraig Goch Gaiman Supply Chain grants Faith in Families 2,000 15,000 2,000 25,000 25,000 1,000 10,000 5,000 The Dean & Ch8Pter of Brecon Cathedral Invictus Noah's Ark Children's Charity Swansea Bay Foundation ABC of Opera Limited 85,000 Page 12
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024 Analysis of expenditure by activities Grant funding of actlvltles 2024 Support costs 2024 Total funds 2024 Direct costs 85,000 3,600 88,600 Independent examlner's remuneratlon 2024 Fees payable lo the Charills independent examiner for the independent examination of the Charitys annual accounts 3,600 Stsff costs The average number of persons employed by the Charity during the period was Nil. No employee received remuneration amounting to more than £60,000 in either year. Trustees. remuneration and expenses During the period, no Trustees received any remuneration or other benefits. During the period ended 31 October 2024, no Trustee expenses have been incurred. Page 13
Docusign Envelope ID.. 598C1E3990D244B>ABB&96307CD291 F9 CASTELL HOWELL FOODS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2024 Creditors- Amounts falling due within one year 2024 other creditors Accruals and deferred income 5,000 3,600 8,600 10. Statement of funds Statement of funds - current period Balance at 31 October 2024 Income Expenditure Unrestrleted funds General Funds 250.000 188,600) 161,400 11. Related party transactions During the year. the charity recieved donations from Castell Howell Foods Limited lotalling £250,000. Page 14