Chjrty rqistr*ion number.. 217013 The Chardon Trust (Llandudno Museum) Annual Rcwrtand Financial Stat¢m for the Ye4r Ended 31 Mareth 2024 The Chardon Trust (Lknndudno Museum) Contents {CODtlllued) Reference knd Administrative Detai18 TDJstrc5' Rc 2toO Inde￿NIent Examinett$ Rewt 8tatyn•)t of Financial A¢tiviti&4 8t09 BalarKe Shrct io Not¢5 to thc Fina￿la1 Stat¢m4>)ts Ilto23 The Chardon Trust (LlandudDO Museum) Referen¢¢ and Administrative Detsilj Trusteeg Mr P C EvaA% JP Dr S Jarnes Mrs J RPhillips Mr H Pri(c]wd Mrs M Olivet Mr W Whewejl iDr MaDagement l Ludenlip M$ D L￿￿sttr, maTW Tea CbArlty Regi$￿00* Nothb¢r 217013 Principal OJTI 17-19 Gl left his IK>use and its COTrteTrts to the people of Llandudno for their learning at¥J enjoymeni. LIandUth￿ mu￿￿[￿,5 rni55ion 15 to.. "Pre5ervc the ChaT(bn BequesL lo collect objects on the history of Llandudno and sWrow￿lTrg 8re4 and efftttively rnana8e our reFA)urcts 80 that we ean Pro￿ develop and sh&re ￿lI¢¢ho￿ for th¢ benefit and enjoymeni of a wide ranR¢ of visitors now into th¢ futu￿.. (hjr vision is that Llandudno Mweum will.. 'Continue ty enrich the lives of all our visi¢or3 and ￿ c¢l¢brat¢ and CaT¢ for LI￿￿￿0,$ ri¢h past and vibrnttt ptesent by mthng our Coll￿10￿3, s¢rvi¢es and buildtiy av8ilabl¢ to everyone for ¢njoyJncnt. IcAming and iD5piratioTL' 'P051tion our visitor5 and at the h￿rt of everything ￿ do atMI en5urc that the Mu8eum and tts coll¢¢Aions ranain ￿levan¢ innovative and inspiri￿." 'Be responsive to evolving public ex￿¢￿til)￿ th¢ rnpidty Ghangllig ¢nvwonDKtrt 8T¥J thE em¢rging national piGtur for m￿￿e￿n3. The initial collection has been cnlar8cd with items from the Llandutho I,icld Club wlltttion and items of earty LIa￿Ath, including archacological items. Rom￿) 8rtefacts and tknse from the Mostyn dev¢lopn¢rtt& enablittB US to d¢A￿￿$¢￿te th¢ town's history. PaÈe 2 The Chardon Trust (Llandudno Musellm) Trus¢ew' Report (continued) ObJeL*ve$. stral¢gl¥s dndadlvl truste¢s have set a number of Sts8tegl￿ and obj￿iveS and or¢ in the pm¢¢ss of pr¢p8rit)g a fiv¢ year fonvard plan with the overall aitn of putting museum on a sound finan¢iat f(K)ting. TOW•￿$ the end there be¢n som¢ internal ￿&trI￿￿n& and stsffin8 h&$ bttn reduced to onc employcc. Emphasis has F*¢n put on inerea5ing f￿￿8]1 d thL$ È5 beillg a¢hieveJ by in¢rea8ed m8rketing ¢fYort3 with a widespread us¢ of ￿¢18] medi& to publicise the exten%ive pro8rarnme of tettvitles the musewn offern, Th¢se Snclude regular ga]lery talks and guid￿ wa]k5 hi8hli8htin8 thc hcrita8c It￿ bio diversity of tk swrounding are& Dwing the r￿t quartw of 2024 this has brought aE*)ut a ple4sirtg in¢r¢ase in r¢v¢nw gU￿rat￿l by these activiti&% thTh)ugh the &dmission of ticket Sales and the M￿￿rn,5 retsil $knp. Th¢ musewn's educsllion rwm is well used by outside IM)dies which irKlude Blind vetera￿ ComTry CO￿ect for Learning Diffi¢ulu¢& LlaJk1ri11o Colk8¢. Comvy Adult Le4nking Wales Conwy Council Creating Learning Centrc. Sclyjols in Comvy CO￿Lty Lk*rough aThJ cO￿ty Llornugh have also used tlwe *a¢ilitie8 and h8ve enjoya inter￿lye tours of the mweu During the year tlrre h&vc b¢ent¢mpornry ¢xhibitiOll$ whi¢h hav¢ be¢rt w¢ll supp)rteAI. In ihe fijwre the trust¢es' l¢80] advisor will be completing the wioding up of the Ch2rdon Thjsl 2nd the sctti up of a Community Interest Company whi¢h Iwll be a key ￿merSto￿t in the mus¢￿,$ fonvard progr¢ssion. The ￿lbItion And &sso¢ioted a¢¢IVi￿ Amplemented during the period.. -BxhibItio￿ Seouts- 23rd septe￿￿tr 2023 to 4th NovanbBT 2023 -Joy of S]llall Thin8s- 14th November 2023 to i ith May 2024 Fundrn¥sin¥ di5cIos4 The principal ￿urCeS of income forthe Tru* ￿¢.. . Th¥ itKx)m¢ 8¢nera￿l by charges levied for a(bnission . Income frotn rnusewn led a¢iiviti&8 such sc]KJol external tslE$ by Tnth8 * lietail ￿leS from the museum thop . Donations l￿d sponsorship . Anwal grants frorn Llatjdudno Town Council and Conwy cO￿ty Bor0￿ c0￿clI • Ontroff grants for $pe¢ifi¢ proj￿¢8 benefv ￿tiVitIeS to fijrther public P￿t are *en to be direLMty linkcd and statcd wtthin the S[￿lfie￿￿ activitie5 forthe period. Tr trust￿ wnfinn th&1 they hav¢ wmplieAI with th¢ r¢quIr¢M¢t￿ of sertlon 17 of th¢ Chariti¢s Art 2011 to l•ve due regard to the public benefrt BuidatKe published by the Charity Comrni&%ion for EngiatKi ar￿ Wale& Useofvolmmieers In th¢ r¢po¢ the Museum ¢xpr¢sse8 its 8rgtitsth towards i(8 volunt¢¢rs forth¢ir $upptytthrou8lK>ut th¢ y¢ar. Stttial reco￿]tion is given to tl¥)5e wlKty h¢lF¢d 5UPFQrt the mu5cum through a ￿riod of rcstructurin8. AdditionNIIy> tt is highlighpd thal the TnL8le&8 themselves are vohmteers who contribute their time aThl expertise to the museum on an on8Oit)g basis. Pa8e 3 The Chardon Trust (Llandudno Museum) Trn#tee3' Report {eolltinued) FiNan¢i*l r¢viÈw Po&ey Tr Tru5tecs continue to mOni￿r the Mus¢um's fimds and th¢ir p)licy to hold r£%rvcs to cover six mortths on80ing ¢ore Museum COSLI The Ch￿￿ty h&8 suffici￿1 res￿V¢S at y¢8y ¢￿1 {UDrerri¢t¢d res¢rv¢s of £1.604.493) to s¢ni¢¢ the onwgolng requirements for foreseeable futur Golng concern The tru$t¢e5 hBve, ai date of approving th￿ financial st&temO a req￿nable eX[￿￿tIOn that th¢ Charity h85 adeq￿1¢ r￿UrceS to Contin￿ in operational exist¢n¢¢ for the foreseeable fimjrtt Th￿8 they continu¢ to adL)pt the goin8 wnrem bA5is ol. accounting in preparing these firwi¢ial statemet￿. li is th¢ inteniion of the Tn]ste¢ to rnov¢ the &4ets and activities of ilk Charity into & ChaTttybl¢ Inw)orated OrgaTJisatsoTL. Strudure> gov¢rnAnu DMna8emeJtt Schetno datrd 1210411988 as Smended on 27A)9r2011. The charitable obje¢tiv¢s ￿ 8et by the Sch¢me are.. to esrablish AtKI maintsin a mwum for the exhibition to the public a) of a wll¢dion of fine art and applied arts and Grafts w as to projnote tth(ation in art and apprcciNtion art and bl of eollccti0Th8 of artefacts and natural exhibits 80 Is tr> advatKe education in the historyp naturnl history, gcogrnphy economy of Llandtho aDd its eviron It 1$ ￿ be expected that chan8G8 occur ITh the ¢omFM)sition Of the Board particujarty in relation to local &utknrity represcntation aftu local ¢1#ii¢)ns occur. The proc￿ work5 well in relation to 5urh thng&8. Other apry)irttrnetits are atw well managed as tl* Board will dis¢uss a r*w Tnkn's 8kli Is addkn the Boards role. The cl*rfty hAS a ￿l1¢Y aryt prrttdure for the itKiwtion of Trust¢￿ &TyJ vvlunt¢rr& trainin8 is provided as and whcn rcquired Arronxememtsfor$ettlrtg key maNt7gem•uperstsnndraJMffter Employ￿ rwnuts¢ration is sd by the tr￿￿te¢S at Trustce rncetings. The ¢h8rity i5 independent and sol¢ly mwJa8ed by its TnL8tce& the museum managcr 15 fcspoTJsible for thc day to day operation& Rbkml￿cRemdi1 Tr TTU5t¢¢5 hay¢ u duty to Ad¢tttify aAd review th¢ rSsk$ to which the ¢haTity is ¢xpo8¢d atld lo ensLfC appropriate >ntroL4 are in place to provide rcasonthlc ￿￿anCe against fraud and ¢Tror. A full risk L88e5sment has been ￿rrIed out and is monitorul monthly. P￿¢4 Yhe Chardon Trp8t (Llgndydno Myseum) Trnstees, Report (continued) The atmual r¢wrt wa5 wrovcd by the trustres of the charity Dn I I S¢ptrtnb¢r 2024 and sig￿￿1 on its khaifby. Mr P C Evans JP JQI Mrs J R Philltps Truste Page S The Ch8rdon Trnst ILiADdudno Mu8euJn) TTWt¢es' Report (eottlillued) Statement of Trntt¢es' Re8￿￿91b1]Itkl The Iru5t¢es ar¢ r¢5ponsible for preparing the trusws. reJx)rt and the financial statements in aiwrdatjce with th¢ United Kirjgdom A¢o)unting StsndaTds {Unitcd KIng￿rn G¢n¢rai]y A¢￿t￿l Accountin8 Practice) and appliGllble law and regulatio Th¢ law 44)licable to charities reqll￿￿ tru*¢es lo prepare fJnatt¢ia] ststunents for e#dJ fil￿18] year whi give a true a￿j fair ￿l¢W of the State of &ffairs of tk charity and of the incoming r&y)urces and applifjotion of resources of the charity for that p¢rio& In prepari￿ these flnancial 5tatemcnts, thr 8r¢ required to.. s¢kct suitable accounting y)li¢ies a￿1 then apply them consislendy. ol￿¢r¥¢ the method5 and prirKiplu ID the Chariti¢5 SORP. ake judgemetts and cstimate5 are rcas)nknl¢ And pr￿1¢￿￿ stat¢ w￿th¢T applicable accounting stsnd8Td5 havc be￿ foll0K￿ wbj*t ty any Materi￿ departure5 dis¢lose41 d oRplaincd in the finan¢ial 4&tem￿. and prepare the fing￿la1 5rat¢tn¢nts on the goin8 concem basis it is i￿pprOprI￿te to presum¢ that the charity will continue in bu5ines& 'llJt tnjstees are r￿￿b]e for kccping propff aeU C¢￿ and have come acr055 othw m4ttry5 in ¢ottt)ectiw with the examinalion lo which attcntio n in this rew>rt in OTderlo ajable a proptt un(krstsThJing ofthe ￿0￿nts to be r￿h¢￿ BS¢ACA dent Exatnin H￿S Ltd Selby TowcT5 29 Princes Drive COIN￿ Bay North w￿e$ LL29 8PE I I September 2024 PaF7 The Chardon Trust (Uandudno Museum) Statement of Flnanclal Aethiities for the Yeydr Ended 31 Mareh 2024 Unre¥tri¢¢41 l*nd8 R￿tricted futsdg Total 2024 Note lacome aDd Endowmtnts frw: tk)nations and legdCiCS Ci]ariMble ¥cuvÉties Other trAdIng￿tiVitieS 302 23.5(M) 30,969 534 302 27,252 30.969 534 3.752 Total ttKx>me 55,305 3,752 59.057 Expenditure on: Raising fimds ch4r1￿ble aciLVlties 4.243 109,392 4243 1110,Q55 663 Total expenditure Gait)$110$8es on inytstment &wrs (105,149) 977 {6631 {105,812) 977 Net {txrthdithJre)littome 148,867) 2.114 3,089 12,114 (45.778) Net llLOve￿¢nt in fut {46,753) 975 145.778) Reconciliation of fynd5 Totsl fiJk13 brouO)t foTwaTd 1.651,246 1.651,246 1,605,468 Totsl fijnds carricd fonvard 21 1,604,493 975 The not¢$ on 11 ￿ 23 forni an inte8ral part of thesc finanGial ststanents. Page 8 The Ch8rdoR Trusl (Llandudno Museum) S￿ten￿￿t of Fin¥n¢ial Activities for the Year Ended 31 Marcb 2024 {rnlllinued) Re5tTided nd8 Total 2023 funds Not• ltteome And Endovlments froDb: Do￿tionS and legaries Ch&ritsble &ctiviti¢s Other tr*Jing activities Inve5tmcnt income 14,692 66,172 25,184 242 14.692 80276 25,184 242 14.104 Total anwrnc 106,290 14,104 120J94 Expenditure on: ChÈritAbl¢ a¢tswiti¢s (104.779) 141.385) (146,164) Tota] ¢xp¢nditUTC GainsqosK8 on inv¢5tment a5sEts {104,779) 4.523 {41.385) 114&164) 4.523 Net incomeJ(expenditurel Net nh)vement in fimds 27,281 21,24 034 (27281) (212471 RetDnciliation of fund8 Totsl brought fonvard .645.212 27281 1,672,493 Total funds caffied fotTrvard 21 1,651246 1.651,240 Tr ty)tes on page$ 11 kn 23 #ll int¢￿1 p9rtof sthtonent& Pp8¢ 9 The CbardoD Trnst (Llandudno Museum) (RegistrntioD Dumber. 217013) Balanee Sheet at 31 March 2024 2024 2023 Note Flxed aM¢ts T￿Ible a￿S Investsn¢nts 12 13 1,650.8 18,225 1,651,163 17,248 1.668.411 1,669,102 Current ass•ts Sto¢ks D¢btors Cash at bank and in hand 14 15 16 4,243 763 11.914 251 61,329 61,580 16,920 Cr¢ditors: Arnoullts fallitt% due within othe y￿r 17 (10,5541 8,745 r4¢t eurrent •ss¢ts 6.366 52,835 Totsl ￿$¢ts Iw eurrent Ilabllltio¥ 1.675,468 1,721,246 Creditors: Amounts f#lling dw¢ 4ftsr more than oDt year 18 70,000 (70.IKK) 1,651246 IYe¢ auets I.￿5.468 Fund5 of the ¢h*wlty: Re9trIct￿ funds Restricted fimds 21 975 IIDreJtrieted income f￿ndS 1.604.493 1.651.246 Tot•1 fundy 21 1,605,468 1.651,246 The firwKial statrments on pages 8 to 23 werr approved by th¢ In￿tt8, authorised for issue on i i Septemkr 2024 a￿181￿r￿d onth¢ir b¢half by: Mr P C EvaTJS JP Mrs J R Philllps Trustee Thc nthc8 on pa8¢5 1 I to 23 form an Inte￿&[ part o1th¢8e financial aatcmcnts. Pwlo The Chardon Trust ILlandlldDO Museum) Note4 to the Flnallclal Ststements for the Year EDded 31 M4reh 2024 l Ae¢ountlllg policies Ststement ofcompliaMt¢ Th6 financial S¢￿eMents hve been prepared &CL￿dIAte with th¢ So￿nd +xlition of th¢ Ch8rities Stat¢rncnt of Recollunended Prdctice issu￿ in O¢tober 2019, the Financial RerK)rtin8 Standard applicabi¢ ITr the UDittd Kingdom R¢public of Ireland IFRS 102) and the Chariii¢s Ac¢ 2011. Basi8 of preparation The Chardon Trt￿t (LI￿￿￿￿0 Mugeuml meet5 the der￿ltiOn of a publi¢ Ixn¢fit entity under FRS 102. Tr accowts Ifjnancial 5tatemcnis1 hllvr pJyr&4 under the historical cost ￿nvention with itcttJ5 reco￿13¢d &t cost or ITama¢tion va]u¢ utJ]e&8 otherwise stated in ts relevani norfs} io ¢heJe accounts. Golng ¢oneorn The tn]stee5 hav¢, at the date of approving ih¢s¢ fin8ncial statetnen(s, a re4wrMbl¢ ¢xpectytlon that the Charity ha5 adequate res)UTces to corrtinue ￿ 0￿rattOn&1 existcncc for the fore5ecabJe firtU￿ Ttxts they ry. Where costs CafXM)t ￿ diT¢rfly attributed to particular hcadings they have been gllocat¢d on a basis ¢onsisMt with the use of resource& Mryth c¢ntra] staff c05t$ 8110¢8ted on the b￿1$ of time s￿nt. and depreciation char8u ailwatul on th¢ FX)rtion of the a88et's ￿t. (Mher support eosis arc allocated based on th¢ spread of stsff c05t& Pa8cII The Chardon Trust ILIYdDdudno Museum) Notes to the Financial Statements for the Ye*r Ended 31 MAreh 2024 (contittued) These are costs incwred in attl￿ting volimtsry incom¢. th¢ mftnag¢m¢nt of inv¢sttnellts atxl thos¢ in¢urred in trading a¢tiviti¢S that raise fwMi& Charitsble &wditure eompri8es those CA)sts in¢uffed by the Chority irt the delivcry of Its activities and services for its trKtKficiati¢5. It includes tl¥t can b¢ 411ocated d]r¢￿Y to suth adiviti¢s and tl¥)8o of an indir¢ct Governance costs These include the Costs attributsble to the charity's complt8nce with col￿1t1￿10na[ and $t&tutrrty requiraTients, ]￿lUdIng audit, str¥t¢gi¢ mAna8¢m¢nt and m￿1￿9 m¢¢tings And r¢imtMused exp¢ns¢& T*x*thn The Gharity is GOll5Ldercd to pass ¢e5ts out in Paragraph I Schdule 6 of the Finance Act 2010 and thercfor¢ it meets the definTtion of a charitable company for corpotation tax puT￿SeS. Accordingly. charity is ￿tentIallY ¢x¢mp¢ from ¢AxAiion in respe¢¢ of inwme or C￿1￿1 gains received wi¢hin categories wvered by Chapter 3 P8rt 11 of thr CoTP)ration Tax Act 2010 or S¢￿10n 256 of the Taxation of Chargeable Gains Act 1992, to th¢ ¢xt¢nt th swb income or gains are applied exclusively to charitable purposes. Tangible ags¢ts Individu41 fix¢d Jr¢ initially record￿ * ¢osL less aDy bithequ¢n¢ accthnulated deFrec1￿1on and sub8¢quent 8¢LXunUl￿d impiimient losse& D¢pretlAtloD imortlutlo Depreciation is provided on tsngible f]xed ￿sets 80 &8 to Write off the cost or valuation. 1¢5$ any ¢%timated residual valu< oV¢rthe￿ ¢xpeG¢¢d u5¢fui ¢ronomir ]if¢ as follows.. Land aT¥J BwldiD8s not depreciated Fixrures and firrings d¢pre¢iat¢d ai 20% 1￿c1ng ba]ance Fixed asmt Investmenti Fixed asset inveth)en￿ otherthan programme related inve51rncnts, are induded at markct value at the ba]atac£ 5h¢et date. iiealised gains and los$¢s otj invests)J¢nts ar¢ cal¢ulated &8 the differ¢Jv between sales proceeds and their marka va]u¢ 81 the sthtt of the year. or their subsequent ws¢ and are charged or ¢r¥jIt￿ to the StOt¢m¢ni of Fknanrial kntivitics in the p¢riod of displ￿[. U[￿talISed gaiTL8 and 1055e5 represent the movement in rnarktt value5 during the year and are crediied or rharged Statement of Finaftcl￿ Activities on the market Val￿ at the year end. Page 12 The ChardoD Trust (Llandudno Museum) Notes to the Financial Statements for the Year Ended 31 MArch 2024 (contiDved) Stock Stock is vaiu¢d at the lower of ¢os¢ 8ThJ estim4t&l selling price1￿% o)sts to complete and sell, After duc T¢￿d for obsolete and slow rnoving stocL& Cost is det¢Tmined u5itLg the fLrsi.in, fltst￿ut (FIFO}. Trgde debtors Trade d¢btyrs are arnOW￿ duc from (wtotncr5 for mrrthwJdis¢ ￿ld or Servi￿ prrform¢d in the ordin8ry c4>ursc of busin￿$. Trade dcbtOT5 initKally at the trwjsadioii price. They are subwtsenily me&4Jred at amortiscd c05t using the effective interest metkn¢£ wovision for impalmwiL A provislDn for the Impoirment of trade debtors is ¢stsblish&l when there is objecitve eVIde￿e that the charity wlll Th)t be able to eollect all a0￿unts due according io the origi1￿l t¢￿S of tk K(zivabl¢5. ca￿ alld equlvAl•nts Cash And ¢4sh equival¢nts comprise c&th on hand and ¢￿11 de[￿St￿, and other short-tern) highly liquid itkVe5tm¢nts that are readlly conv¢rtibk to a known at￿￿11 of ¢ash aThl Are subjett to att ittsi8nificaJrt risk of change in value. Trade ertdiknrs Creditors are obligations to pay for 8ood5 or scrvicc5 have acquired in thc ordinary course of ix]siness frLTrm swpli¢rs. A¢cou]xts paytthle are c]8SSAfied 85 cwrent ]iabilities if the does not have an un￿nditx>nal TighL at thc eDd of thc r¢portsn8 ￿ri{￿l ￿ d¢ftr sdtlement of the creditor for at least twelve months after the reportin8 date. If thcre is an unconditional right to defer 5¢tt1cmcnt for Jt lehst tw¢lve months aft¢r the rwrting dak. they are preEent¢d ￿ ￿￿-current liabilitie& LiabilitiW W¢ te¢ogni$¢d Initi￿[Y at th¢ trAn9thn price and ￿bSequent]Y measur¢d at amortiqaq L¥TrSt UBing the ¢ff¢ctive inter¢$t rtthd. BorrowinKJ Intere￿-bearing knrrowitw arc inttiatly rctordd at fa￿ valuc. net of transaction o)sts. It*trest.bcaring bom)win8S are Subseq￿tlY raTri￿1 at wbortis¢d (x)st. with th¢ difFtt¢tK¢ bets¥e¢n the proce&4s. n¢tof transaction costs. and the amowlt due on rthption king re￿￿]5￿ as & chhrgG to thr Slatcmfflt of FinAncia] Activitsr5 ovrr th¢ pwiod of th¢ r¢l¢v4nt knrrowin& Interest expense 15 re￿￿]Sed on thr basil of dyrdi￿ int¢rest mettK)d 1$ induded in int¢resi payable and simtlar charges. Borrowin￿ aT¢ ¢lwified ￿ current liabilities Lmless Ihe charity h&8 an utKottdtliot)al ri8ht to defer settltrnent of thc liability forat leAst twelv¢ months after the re￿rtIng date. Fund strwcture UnrestTic*d income funds art 8errta] filnds that are av&ilable for we at thc tr￿te¢S di8cTetion in furt1￿[￿ of the Obj¢¢tiV￿ of the Ghartty. R¢stric*d itlcome fwlds ar¢ those d(wtrd for in a p4rti¢ul8r ar¢a or for spwifir purpD%5, th¢ th¢ of whid) is restricted to that area Orpu￿Se. Page 13 The Chardon Trnst (Llandudtto Mllsellm) Notes lo tbe Finan¢i41 Ststements for the Year Ended 31 March 2024 (continued) Fitt*rtti#l initrume*ts Financial assets and fJnan¢iaJ liabilities are rwised when the charity tt0)M￿ a party to contr￿al provisio￿ of thc instrum¢nL FinaNia] liabiliiies and equity instrum¢tts are C]￿lfied according to the substance of the contractual arrangem¢ntS entrrcd into. An equity instrument is any contrarf evidetYAs a residual int¢rest in th¢ of the chaTity after dethI￿ing all of its liabilitie8. All financial &8scts and liabilities are initially me&wfftd at transaetion pri¢e (including trans&aion costs), ¢xcept for tIKJse financial &￿tS cla￿lfIed ¥ &t fair value through profit or loss. whicb Hre initially tneasured At fair value (which i5 TLorrtLally th¢ ¢ransac￿ ptice excluding tra￿lOn costs). unless the arrdngement constiDJtes N fin￿ring transaction. If an arrttngement CO￿￿￿￿￿¢$ a financing transactio￿. the finan¢iAI a88¢t or fmancial liability 15 M￿￿red at the pr¢s¢nt v8lu¢ of the fv¢ur¢ [￿)￿llents d]￿Unted ￿ a tnarket ratr of intrrest for a simllar debi Instrut￿n￿ Financial and liabilities are ortly offset in the sthtemeffj of knttial positK*n whwL 8nd only wh¢n tI￿e exists a1¢8a]ly enfor¢eabl¢ right to set off the reco￿l￿d amounts at¥J the charity intends ¢ithe4 ￿ sett]e a ]*t bL8i4 or to re￿ist the asset 8nd settle the liability simultsncowly. Fina￿la] &￿eLS are derecogni5ed when and only whcD a) th¢ contracts￿1 rights to th¢ c&th flows from tk fmattial ass¢t expir¢ (pr settled b) the charity transkn to aTh)thcr paty substantially all of the ri5k% r¢wths of ownership of thc finanria] *sseL or ¢) th¢ charity. d¢spi* haviog r¢tained sorn4 but not au. si8n1f￿anI rfskg and rewards of owncrslup) has trat￿ft￿ ci>ntrol of the &￿et to anothcr party. Fin8n¢iai liabiliti¢s ue derecognised only when the obligatitsn *e¢ifLe41 Èn the c¢)ntract ts dI￿hArge￿ ￿￿elled or ¢xpir#. Page 14 The Chardon Trust (Uandudno Museum) Not¢s to th¢ Financial Statements for the Year Ended 31 March 2024 (continued) 2 In¢om¢ from don•tiotti xttd leye UnrtJtrl¢¢e fundj G¢D¢r41 Total 2024 Totsl 2023 Dona¢ions and Iwcie5' Donatio￿ from individuD]s 302 302 14.692 302 302 14,692 3 Income from chAritsble #rtivilits Uryre51ricted fund5 General Restrleted funds Totsl 2024 To*81 2023 MuKuTll collcdi(w displays and e4hK&tional materials d¢v¢iopm¢nt 23.5 23,5(Kl 3.752 66.172 14.104 3.752 23.500 3,752 27252 80,276 4 Ineom¢ from oth•rtr&ding activiti UnTe5tric¢ Total 2023 Ceneral 2024 Events income,. Olh¢r e¥wEi$ income Prop¢rty income 30,539 430 30.539 430 25,184 30.969 30.969 25,184 5 Investment Totsl 2024 Total 2023 Genernl Interc51 rcccivable and similar in&)me' lrterest re¢¢ivabl¢ on bank d¢posits 534 534 242 PWIS Th¢ Chardon Trust {Llandudno Muyeum) Notes to the FiDAncial stateD￿nts for ¢h¢ Yelir Ended 31 March 2024 (continued) 6 E¥p¢Dditsr¢ ¢hAritsble Aetlvttle8 Unre5triL*ed Dds General Totsl 2024 Totsl 2023 fuRds Nots Museum development Exhibition and overhe 05ts st￿¢￿$ts 5,451 5,451 16,675 54,880 45,165 3,896 663 SS,543 45,165 3.896 67.900 38,924 2.665 663 110.055 146,164 7 AnatyJi• of iov¢rnxnee #rtd illpport costs Coverngllte eojts L'nreJtrirted ds Generxl TDtal 21124 Total 2023 Indepw￿¢nt examtner fees F.xamin&tion thf the fina￿la1 sts1￿]￿t$ Otherfees rAid to examinffs 550 3,346 3,896 550 3,346 3,896 550 2.115 2,665 Page 16 The Chardon Tn￿t Iuandudno Museum) Notes to the Finallci￿ Statements for the Year Ended 31 March 2024 (continued) 8 Tr•st¢e8 remub)•r4tlon and expenjej No trustee5. ￿)r any persorts COTULethd with them, ￿ve re¢eiveJJ ony r¢muneration from th¢ dthrity duriDB the year. No hv¢ r¢¢¢iv¢d any ￿]mb￿8¢d eXpen￿S or any other tr*nefiis from tIK charity during the year. 9 Stsff costs The oggregotr payroll w¢r¢ as follow$: 2024 2023 Stsff costs during tb¢ year w¢r¢: Wages and sa]ari¢s 45,165 5¥,924 Th¢ monthly average n￿ll￿r of persons linc1￿ling senior marwent / leaders]llP team) employcd by the GhaTity during the year expressed as full time eqUiv￿¢￿ts was as follows.. 2023 No CommuDiiy & Edu¢￿10￿ offi¢ No anployee received ¢tnolwD&]ts of n10￿ than £60,000 dwing th¢ yellT Th¢ Mus¢um manoger, ￿ th¢ hig]Kst Paid m¢mb¢r of staff, receiv¢d b￿¢fits tO￿lIng £2722512023- £30,000). 10 Independent examiner s remunerHtioD 21)24 2023 Ex8mknation of the finatKial ststements 550 550 Other fees to examl4er All £>th￿ smi¢es 3,346 2,115 P88¢ 17 The Chardon Trust (Llandudno Museum) Notes to the Financi8R Statements for the YeAr Ended 31 Marcb 2024 {eon¢inued) The charity is a registered c]wity and is therefore exempt from to￿lO[L 12 T•x8iblÈ fixed IAnd and blltldlngj Furniture and equlprnent Totsl Co$t At l April 2023 Additior 1.642,473 29,959 1.814 1.672,432 1.814 31 March 2024 ,642.473 31.773 1,674246 Dtpttelatlo At l April 2023 Charge for th¢ ye 21,269 2,1( 21269 2,1(M) Ai 31 March 2024 23,369 23,369 Net book value At 31 Marth 2024 1,642,473 8.404 1,650.877 At 31 March 2023 1,642,473 8.690 1.651,163 Re5trr¢tion on tttl¢ *nd pledged as seeuiyty Lat)d wjd buildiTV With & canying amount of £1,650.877 (2023- £1,651,163) h8$ the following r¢stri¢ti(Trn on title.. Char8es over the building ar¢ ]xld by The Welsh GovernrnenL Conwy Coutty Bomugh Coun¢il artd The National Lottery Herits8e Fund. Pgge 18 The Chanlon Trn81 ILlandudllo Muleum) Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 13 Fixed A55tt IDve5thÈAts 2023 18,225 17248 Othèr Invtstm•nt8 IA8ted Itwe8tmtnt8 Totsl C￿t orvaluatlon At l April 2023 Revaiudtion 17,248 977 17248 977 At 31 March 2024 18,225 18.225 N•t book value At 31 Mar¢h 2024 18,225 18,225 At 31 MoY¢h 2023 17,248 17,248 Pag¢ 19 The ChardoA TTh￿* ILlandudno MLqeum) Notes to tbe StAlements for the Year Ended 31 March 2024 (continued) 14 SttKks 4243 15 Debtors 21)24 2023 Trade deblors 763 251 16 C•sh and equivAlents 21n4 2023 C￿h at bank 11,914 61.329 17 Creditors: amoumts f•llini du¢ withiD year 21n4 2023 Tradccredttors Other waiion ard social security Oth¢r Creditors Accruals 3,935 392 3,777 2,45 3,275 2.034 1,989 1,447 10.554 8,745 18 Crnlitors: xmorllts fsllkng due After ODe year 2024 2D23 70,(X>O PaEe 20 The Chardon Trnst (Ll#ttdudno Museum) Note8 to the Fillancial Slalements for the Year Ended 31 March 2024 (continued) 19 ATh￿#ts of Met as•ets between fundg Unrestricted funds G¢ttÈrAI Tot*1 fundi ot 31 M4r¢h 2024 fun Tawble fix¢d ¥4ets 1,650,877 18.225 15,945 {10,554} {70,OOOJ 1,604,493 1,650.877 18.225 16,920 110,554) 170.( 1,605,468 Cwrent assets Cwrent liabiliti Creditors over l y¢8r 975 Tota] ]]¢t a￿ts 975 Unr¢$trl¢t¢ futtds Cerjernl TotAI funds *t 31 March 2D23 T4ngibl¢ r]X￿ awrs Fixed ￿et invcsin Currenl as8¢ts CUrr￿t liabilities Cr￿￿tOrS ovff l y 1.651,163 17.248 61,329 (8,7461 70.000 1,651,163 17248 61,329 18.746) 170.01 Totri n¢t a 1,650 994 1.650,994 211 Pen$ioD and other scheme5 Deffned contrlbution peftsion 8ehem¢ The ¢iwiry opera￿¥ a defind contribution PCTL8iOD bKh¢¥n¢. Th¢ p¢nsioJ] COSL char8e for the ye4r represents contributions payubl¢ by th¢ ch￿ty to the scheme and amounted to £1,56712023 - £1,478). Q>Trtributions ￿ty111n8 £2,195 {2023 - £1.8561 were payable to the scheme al the ¢nd of th¢ yew atsd are included in creditors. P4F21 The CbArdon Tn￿t (IJ4ndudno m￿Sell￿) Notss to the FinAn¢ial StAtements for tbe Year Ended 31 Mar¢h 2024 (continued) 21 Fllnd8 Unrértrltt*l funds Other r•EogDi8ed BAlane¢ at J Inco￿1￿8 Rosouree April 2023 r¢8ourct• eipellded 31 M*rch 2024 Tr#D$fer8 Uttttstrieted fuDds G¢rterol Ui]re5triGted In¢om¢ Fund 1,651,246 55.305 (105.149) 1114 977 1.604.493 Restrl¢ted fullds Wellbeing Survey Rail & GroLUKlwork Federation of m￿se￿￿8 124 975 Il241 975 2,654 {540) 12.114 Total rutritttd 3.753 (6641 12,114 975 Total funds 59,058 105 813 977 1,605,468 The srrtific purw5es fot whith the futlds are to be4pplird ar¢ follows.. FedeTrtion of Mus¢ums• Colleaion Care aThl Aceess Trainin8 and Volutjtrcrs. Rail snd Groundwork North Wales. Funds PTDleGts to rtyJu¢¢ so¢ial ix)iation and improve health and wellbethg in the lo￿1 ¢0Mm￿lty. There w&s a tr￿ftr of afixed asset Pu￿baSed itl the ￿rI4￿3 fiy]n th¢ ￿strithd trwr to the ww¢stricted ruer¥c of £1,814 as th¢ o)ndiiion of th¢ grdnt had been fijlly satisfied by the baJanc¢ sh¢¢t dat&'fhere was a fither trfinsfer of £300 in r4)taTL¢¢¢ion to iDt¢rnal room hire rtrchftrse arttd witb the providcr. Page 22 The Cbardon Trnst (Llandudno Museum) Notes to the Finan¢ial Ststements for the YeAr Ended 31 March 2024 (¢ontinued) Other reeogttl&ed ¥Ains1{10ssuI BAIAn¢e #t 31 March 2023 BAlaDte at I April 2022 Incorning resources R#our¢es expend unrestr1et￿ fy#ds Unrestricted ItKome F￿)d 1,645212 1062Y) (104.779) 4,523 1.651246 Re8tTlCted WCVA Headley Trust HLF Erne￿￿Y (w￿lD8 Feder8ttoD of MuseuTns Win8ats Grant LlandLMlno Tourism 8,289 10.754 6,738 7,719 {16,(N)8) (10,7541 (6,738) 12.680) 11.500) 3,705 2.680 1.500 3,705 Total Testrlcted fulld$ 27.281 Tot81 f¥Dds 1.672 493 120,394 146 164 4.523 1,651,246 P8ge 23