CHARITY REGISTRATION NUMBER: 216659 Rhayader Market Hall and Smithfield Trust Unaudited Financial Statements 31 March 2024 PJE ACCOUNTANTS & ADVISORS Chartered accountants 23 College Steet Lampeter SA48 7DY Rhayader Market Hall and Smithfield Trust Financial Statements Year ended 31 March 2024 Page Trustees, annual report Independent examiner's report lo the trLtstees Stalement of financial activities Slatement of financial position Notes to the financial statements Rhayader Market Hall and Smithfield Trust Trustees. Annual Report Year ended 31 March 2024 The trustees present their report and the unaudited financial slalements of the chaiity for the year ended 31 March 2024. Reference and adn]inistrative detalls Registered charity name Rhayader Market Hall and Smilhfield Trust Charily registratlon number 216659 Principal office Llwyncwtla Rhayader Powys LD6 5NT The trustees Brian Rees Sheree Lewis David Owen Evans F.R.l.C.S l)wain Pugh Clare Evans Christian Walton Rogei Lewis Robert Lewis Robert Lewis Georg& Wozencraft Angela Davis Rhys Thomas Clive Hamer David Davies (Resigned 29 January 2024) {Resigned 29 January 20241 (Appointed 29 January 2024) IResi9ned 29 January 20241 Company secretary Sian Davies Accountants PJE A¢counlanls & Advisors Chartered acGounlanls 23 College Steel Lampeler SA48 7DY Structure, governance and management The governing documents of the charity are the Schemes of 27 August 1909 and 30 May 1922. Objectives and actlvltiès The objects of the charity are "lo benefit the public by providing and maintaining, subject lo and in conformity with, the provisions of Ihe scheme of 1909. 3 market pla￿ lor Ihe use of persons allending the fails and weekly m8rkels held in the ancient borough of Rh8yader and a Convenient place for the reception of callle brought for a sale at the said fairs" Rhayader Market Hall and Smithfield Trust Truste8s' Annual Report (contlnuedj Year ended 31 March 2024 Achieveinents and performance The Trust has continued lo maintain and enh8nce the market place lacilily during the year under review. Financial revlew The lolal incomin9 resoLtrces of the Trust during the year lo 31 March 2024 were £41,369 {2023 £42.9911. Direct charitable éxpendllure amounted lo £19,151 12022123 £11,548). The nel income for the year lo 31 Maich 2024 was £22,21812023 - £31,443). The Rental income for the Market Hall and Bankhouse was steady with near full occupancy throughout Ihe year. The ren131 income for the year was £21,315 {2023 £21,305). Welshpool Livestock were lenanl of the market throughout the year, generating rental income for the year was £18.00012023 - £18,000). Truslèès. responslbllltiès statèment The trtjslees are responsible for preparing the Iruslees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿1. The law applicable lo ¢ha¥ilies in England and Wales requires the charity Iruslees lo prepare linancial slalernenls for e8¢h year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of reSoUr￿s, ol the ¢harily for that period. In preparing Ihese financial slalements, the Iruslees are required lo.. select suilable accounling policies and then apply them consislenlly,. observe the methods and principles in the applicable Charities SORP,, make judgmenls and accounting eslimales that are reasonable and prudent., slate whether applicable UK A¢¢ounling Standards have been followed, subject lo any materi81 departures dlsclosed and explained in the linanGial stalemenls., prepare the financial slalemenls on Ihe going concern basis unless il is inappropriate to presume that the chaKily will conlinue in business. The Irlrslees are responsible for keeping adequale accounting records that are sufficient to show and explain the charily's Iransaclions and disclose with ieasonable accuracy al any lime the financial position of the Charity and enable them lo ensure Ihal the financial slalemenls comply with the Charities Act 2011, the applicablè Charities (Accounls and Reports) Regulations, and the piovisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevenlion and deleclion of fraud and other irregularities. Rhayader Market Hall and Smithfield Trust Trustees. Annual Report (conlrnu6£1) Year ended 31 March 2024 The Iruslees. annual report was appToved on 17th Febwary 2025 and signed on behalf of the board of Ifuslee5 kby.. Christian Walton Trustee Sian Davies Charity Se¢relary Rhayader Market Hall and Smithfield Trust Independent Examinar's Report to the Trustees of Rhayader Market Hall and Smlthfield Trust Year ended 31 March 2024 I report lo the Iruslees on my examination of the financial slalements of Rhayader Market Hall and Smilhfield Trust I'the Charity'l for the year ended 31 March 2024. Responsibilitie5 and basls of report As the Iruslees of the charity you are responsible for the preparation ol the financial sl8lemenls in accordance with the ¥equiremenls of the Charities Act 2011 ('Ihe Acl'>. I report in respect of my examination of tha ¢h8rily's financial statements carried out under section 145 of the 2011 Act and iii cairying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examlner's statemènt I have completed my examination. I confirm that no material maller5 have come lo my allenlion in ¢onne¢lion with the examination 9iving me cause lo believe that in any material respe¢l'. accounting records were not kept in respect ol the charity as required by section 130 of the Act., or the financial slatemenls do not accord with those records., or the financial slatemenls do nol Comply with the applicable requirements concerning the form and conlenl of accounts sel out in the Charities IA¢¢ounls and Reports) Regulations 2008 other than any rèquirement that the accounts give a 'lrue and fair, view which is not a maller considered as part ol an independent examination. I have no ￿nCernS and have come across no other matters in connection with the examination to which 8llenlion should be drawn in this leport in order lo enable a proper understanding of the accounts lo be reached. Robert Giay FCA Independent Examiner 23 College Sleet Lampeler SA48 7DY 1 August 2024 Rhayader Market Hall and Smithfield Trust Statement of Financial Activities Year ended 31 Maych 2024 2024 Unreslricled funds Total funds Total funds 2023 Notè Income and endowments Investment in¢ome Other income 80 41,289 80 42.911 41.289 Total Income 41.369 41,369 42,991 Expenditure Expenditure on charitable a¢livilies Total expenditurè 19.151 19,151 19.151 11,548 11,548 19,151 Net Income and net movement in flrnds 22.218 22,218 31,443 Reconciliation of funds Total funds brought foward Total funds carrièd fonNard 699.192 721,410 699,192 667,749 721,410 699,192 The slalemenl of financial activities includes all gains and losses recognised in the year. All incom6 and expenditure derive from continuing aclivilies. Th6 notes on paues 7 to 15 form part of these flnanclal stal&ments. Rhayader Market Hall and Smithfield Trust Statement of Financial Position 31 March 2024 2024 2023 Noto FSxed assets Tangible fixed assets 12 599,103 543.950 Curr&nt assats Debtors Investments Cash al bank and in hand 6,790 200 120,759 1,681 200 161,208 14 127,749 163,089 Creditors.. amouiits falling due within one year Net current assets 15 4,109 123,640 5,181 157.908 Total assets lèss current liabllitles 722,743 701,858 Creditors.. amounts falling due after morfr than one year Net assèts 16 {1.3331 721,430 12,6661 699.192 Funds of the charity Unreslricled lunds 721,410 721,410 699.192 Total charlty funds 19 699.192 These tinancial slalemenls were approved by the board of Iruslees and aulhoiised for issue on 1 August 2024. and aye signed on behalf of the board by.. Christian Walton Trustee Clwe Hamer Trustee The notes on pag88 7 to IS forin part of these flnanclal statements. Rhayader Market Hall and Smithfield Trust Notes to the Financial Statements Year ended 31 March 2024 General Informatlorb The charity is a public benefit entity and a registered charity in England and Wales and is unincorpoialed. The addiess of the principal office is Llwyncmrtla Farm, Rhayader, Powys, LD6 5NT, Wales. Statemant of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reportin9 Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Pracliee applicable to charities PTeparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 Ichariltes SORP (FRS 10211 and the Charities Act 2011. Accounting pollcles Basis of preparatlon The financial slalemenls have been prepared on the historical cost basis. as modilied by the ravalualion of ￿rtain Iinancial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional ¢urrency ol the entity. Golng concern There are rK) material uncertainties about the charity's ability lo continuè. Judgements and key sources of estimatlon uncertainly The pieparalion of the financial statements requires managemènt lo make judgements, eslimales and assumptions Ihgl affe¢l the amounts reported. These eslimales and judgeinenls are continually reviewed and are based on experience and other factors, including expectations of future events that are believed lo be reasonable under the circumslances. Fund accounting Unreslricled funds are available for use al the discretion of Ihe Iruslees lo further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the Iruslees for particular future project or commitment. Resliicled funds are subjected lo reslriclions on their expenditure declared by the donor or Ihiou9h the terms of an appeal, and fall into one ol Iwo sub