LLANELLI TOWN ESTATE
(Regislratioti Nuniber 2172501
TRUSTEIES, ANNUAL REI PORT FOR YEAR ENDING 31. MARCH 2024
Trustees
The Tiuslees of the Registered Cl)arity known as Llanclli Town Estate coinprise the twenty two
elected Couiicillois (foi. tlie tiiiie being) of Llanelli Town Coiineil.
Officei's
The Chaii'man of the Trustccs is The Town Mdyoi. (for the IiiTie beiiig) of Llanelli Town Council,
and the SecLetaiy to the T￿SteeS is The Town Clei'lc {foL' the time being) of Llanelli Town Council.
Statutory Authoi'ity
An Jnclosui'e Awaiyl, dated 24, Octoba., 1810 whicli provides (intcr alia) foi. iiicoille to be applied
'in iinproving the Town and Port of Llanelli.
Investmeiit Portfolio
HSBC Private Banking, HSBC UK plc, 8 Cork Street, Londoii, WIS 3LJ act as pi'ofesslonal
advisers and bi'okci"s I￿alIagIng the IrLveslmcnl Portfolio of the Towii Estate, which repL'eseiits
accumulated income fi'oill salc of lands, fi-echold E'evei'sionary intei'ests, etc. The inai'ket valiie of
the Portfolio at the 31° March 2024 amounted lo £2,811,188.
Iilcome
Income lo the CE￿ritY is derived fi'oni tlie followiiig sources, viz=_
(a)
(b)
(c)
(d)
Sales of freehold i-evei'sÉorkary inlcrests.
Dividend income from investinent poi'ifolio.
Ground i'cntals froin leaseliold propeities.
Allotment gaidens at Lower Ti'ostlE Road.
Expenditure
Heads of expendi￿re includc'.-
Legal Professioi)al Fees of the Estate.
InN'estinent Portfolio managcment fees.
(a)
(b)

Pj'operty
The pi'opei'ty compi-ising Ilic Llanelli Town Estate as of 3 ISL Mai'cli 2024 is as follows.'-
(a)
Nine leasehold inlercsts, viz'.-
Addi'ess
Annual Gi'ound Rent
No. 12 Comish Place
No. 13 CoinishPla¢e
No. 14 Coi'nish Plaee
No. 20 CorLiish Place
9 Glandafen Road
3 Havelock Sii'eet
No. l 0 14avelock Sti'eel
No. 13 Ropewalk Road
No. 80 Ropewalk Road
16.00
13.00
4.00
4.00
8.50
15.00
1.34
I,iio.00
14.00
(b)
During Ilie yeai., the fi'eehold of I l Ropewalk Road waq sold to Ilie leaseliolder with
£29,450 consequently I'eceived illto the Ti'ust. In addilioii the Tnisl agi'eed to Ii'ansfei.
ownei'sliip of the Land al Trinity Road, Llanelli, (known as Biyn Yai'd Einvii'oninental
Scheme) aJ)d the allolinent gai'dens at Lower TToslre Road to Llanelli Town Council.
Gi'aiits
A graiil of £75,000 was Inade to Llanelli Town Council diii'ins the accounting period.
Aifon Davies,
Secretai.
to The TrustLes
Milly￿7￿L￿￿Elhl0Mj EsIa4e-T￿l4￿sA￿￿￿iftq￿rt2Q24.th

Llanelli Town Estate
Trustees, Re
ort and Financial Statements
for the
ear ended 31st March 2024

Llanelll Town Estate
Ind8X
for the
ar ended 31st March 2024
Page Nolsl.
Indgpend&nt Examlnorfs Report
Ganeral Infomalion
Report of the Trust¢es
Statement of Trustees, Responsibililes
Slalement ol Financial Activities
Balance Sheet
7109
Notes to thg Financial Slalemenls

Independent Exam5nels Roport to the
Trustees of The Llan811i Town Estst
I rewrt on Ihe accounts ol the Trust for the year ended 31 sl Ma￿h 2024. which are sel out on pages
1109.
RespÈctlve responslbilltles of the Trustees and the Examlner
As the charity's Iruslees you ar& responsible for Iho pr&paration of the ac¢aunts; you consider th21
the audit requir8menls of section 43121 of the Chaiiilies Ad 1993 Ith8 Act does not apply. It is my
responsibility to state, on thè basis Df procedures spe¢ifi8d in the Gener81 Dlre¢lions given by the
Charily Commission8rs under section 4317llbl of the Act, whether 3ny p2riicul8r matters have Come
lo my attention.
Basis of independ¢nl exarniners report
My examination WAS ca¥ried out in accordance with the Gen6ral Dlreclions givan by lh8 Chsri(y
Commissioners. An examination includes a revisw of th8 accounting records kept by the chaitly 2nd
a comparison of the accounls presented with those recDrds. It also includes consideration of any
unusual ilerns or di5cltrsures in the accounts, and seeking explanations from you as Iru$tÈÉs
concerning any such mallers. The procedures undertaken do not providé all the 6vkJence that would
be required in an audit. and ¢tsnsequently I do not express an opinion on the view given by the
accounts.
Inde￿ndent examiners statement
In connection with my examination, no matter has ¢ome to my 8tt8ntion."
111 which giv85 me reasonable Cause to believe that in any material respect the requirem8nts
al lo keep accounting records In a¢cordanc& with section 41 of the Act., and
bl lo prep2re accounts which accord with the aGGounling records and to complywith the
8ccounling requlremenls ol the Act
have not been met., or
121 to which, in my opinion, allention 5hLNJld be draw￿ in order to Énable 2 proper understanding of
the aGcounts lo be reached.
￿￿￿k R Kemp
DCK Accountinq Solutions Ltd
Unit 1, Uffcoll Farm
Uffcott, Swndon, Wilts
SN4 9N8
Date: fjth June 2024

nelli Town Estate
General Information
for tha
ear ettded 31st MarGh 2024
Charity Registration Number
217250
Regist8red Office
Llanelli Town Councll
The Old Vic8rage
Town Hall Square
SA15 30D
Trustées
Llanelli Town Coundl
Signatory lor the Trust
Any Two
Managam6nt Commillee
Uanelli Town Counul
Independent Exarniners
Derek R Kemp
DCK Accounting Solutlons Lld
Unit 1, UlfMtt Farm
Uffcoll, Swindon. WlSls
SN4 9NB
Banke15
HSBC

Llanelll Town Estate
Re
ort of the Trustee
for the
ear ended 31st Mareh 2024
The Tfuslees present IhÈlr Report and Financial Stalernents of the ¢hsrily lor the year end81131 March 2024.
Constltutlon
Th8 charily 18 gov8med by a dofinilive Trust Deed. namely an Inclosur8 Award dated 24th October 1810.
The Trust is ￿gIStered as 8 chari¢y under number 217250.
Ob
ectlve5 and Actlvltles
For tha gon8ral ben2fil of the pari and tDWn of Llanelli
Results
Thè r8sult8 lor th8 year are set in the Slaternent of FinanGlal A¢tivilies on page 5.
Tw$tees
m￿berS of LlanellS Town Council
Dat8d..
lo /l /£4-
Trustee
Tru5te8

Llanèlli Town Estate
tement ofTru8tee's Re8
on$lblllties
for the
ear ended 31st March 2024
Under the Charlties Act 1993. Ihe Trustees are requir8d tts..
Keep proper accounting r8cord8 Kthich d15close with reasonable a￿Ur2¢Y at any lim8 the financial
posltion of the charity.
Prepare finan¢ial statements for each financial year which give a Irue and lair vlew of the stal8 of th8
charity's affairs and of ils surplus or dBficit for the year and ￿mplY with the regulations made by the
Secretary of Stale.
In prèparing those finan¢dal stat￿ntS, th8 Irus188$ a￿ requlred to..
select suitable acLwnting policies and th8n apply them coftsislently
make judgements and &slimates that are r8asonabl& and prudent
stale whether applicable accounting standards have been followed, subject lo any material departures
di5clos8d and explained in th8 financlal slalements and whslher th8 IlnanrAal sl£lemenis have b8en
prepared in accordance with Ihe Stalemenl of R8commended Practlee, ACC￿nting by Charitles, issued
by the Charity Commission.
prepare the financ#al statements on the going concem basi5 unl885 11 is appropria18 to presume thai the
charity will continue in ope1811(￿.
The Truslees are also responsible for safeguarding th8 2ssel$ of the charity and h¢n¢8 lor tsklng re£sonaUe steps
for the prevention and detection of fraud and olher irregularities.

Llanelll Town Estate
Statèment of Flnanclal Activitias
for the
ear ended 31st March 2024
Incomln
Resources
Restricted Unrestricted
Funds
Funds
Total
Funds
2023
Investment Income
Inveslmenl G8insllLoss&sl
Movempnt on Investments
Freehold Sales
8ank Interest Received
Other Inc(wtte
62.681
62,681
119,2291
1178.7771
29,450
794
3,228
52,541
123,4041
1140,6721
119,2291
1178,7771
29.450
794
3,228
615
651
1198,006
96.153
101.853
1110,269
Resources Used
Direct Charitable Expenditure
Movement on Inv8stmenl
17,Q71
78,687
95,758
177,840
17,071
78,687
95,758
177,840
Net Incornin
Re50urce5
1215,Q771
17.466
1197.6111 1288,1091
other Recognised Gains & Losses
178.7Tt
178,777
140,672
Net Movement in Fund5
136,3(K)I
17,466
118,8341 1147.4371
alancss at 1stApril
2,474,986
114,537
2,589,523
2.736.960
Balan￿$ at 31 sl M8rch
2,438,686
132,003
2.570,689
2.589,523

L.lanelll Town Estate
Balance Sheet
as at 31st March 2024
2024
2023
otè
FIx8d As88ts
2.788.271
2,515,798
Current Asset$
LoThJ Teim Loans
Debtors & Prepayments
Cash at 8ank General Fijnd
C8sh 81 Yank Reslfjcl8d Fund
11,938
127,841
10,979
123.284
28,759
150.757
152,043
Credltors
Amounts falling due wilhin one
year
850
16,766
Net Current Assets
149,907
145.277
2,938.178
2,661,075
Restricted Funds
C8Pital Reserve Aceounl
Unrealised GainsllLDssesl
2,438,687
367.488
2,806,175
2,474.987
71,552
2,546.539
Unrestricted Funds
RÈvenue A¢eount
132,003
114,537
2.938,178
2,661,076
These financial slalemenls wer8 approved by the Trusté88 on
uslee
Truste8

Llanelli Town Estates
Notes to the Accounts
for tha
ar ended 31st March 2024
Accountsn Policles
Accounting Convtrntitsn
Th8se Account5 have been prepared on the basis of histor￿ cosi lexcept ihat investm8nts are
shown al markel v8lvel in accordanGe wth A¢¢ounling and Reporting by Charities- Slalem8nt
of Recommended Practice ISORP 20051.
INCOMING RESOURCES
Re¢ognltlon of Incomlng Rosourc8S
These are Included in IhÈ Ststém8n( of Flnancial Acliviti&s ISOFAI when-
the charity becorne5 enlilkd to IhÈ rÈsourc8s'.
the trustees are virtually Gertaln Iheywll receive the ￿sourCes,, and
th8 monetary value can be measurtrd with sufficient reliability.
Incornlng Resourctr8 wilh Related ExpendlturÈ
Wh8re in￿MIng resour￿$ have r8lated expenditure Ihe incorning resources ard related
expenditure are reported gross in the SOFA.
Invèstment Income
Thks is ineluded in the 2ccounts when r8ceivable.
Investment Gains and Loss88
ThK8 includes any gain or loss the sa18 of inv8Sttnenls and any gain or lo&s resulting from Ihè
revaluin9 of inveslmBnls lo market value al Ihe year end.
EXPENDITURE AND LIABILITIES
Liabillty Retognltlon
Liabilities are recognised as soon as there 15 a legal or ¢onstructiV8 obligation commill£ng th8
¢harity10 pay oul resourc&8.
Governance Costs
Indud8 the cost5 of prSp2raI￿ and eyamlnallon ol statutory accounts and Cost of any legal
advic8 to Irust£88 on goverllance or ¢onslilulional Mallers.
ASSETS
Investments
Investment5 oiioied on a r8cognls8d stock exchangE are valu&d st market Value at the yaar
end.

Llanèlll Town Estate
Notes to the Flnan¢lal Statements
for the
ear ended 31$1 March 2024
Restri¢ted Unrestrlcted
Funds
Funds
Totsl
Funds
2023
other Income
R8nt81 & Other Incom&
96,153
96.153
98,153
96,153
53,807
53,807
DFrect Charltable Ex
enditure
Repairs and Maint&nance
Professional FeÈs
Miscellaneou5 Exp8n4Yiture
Porifolio Manciqemenl Fees
Gr£nt lo Town Couwl
Grant lo Clear loan SC
3,159
528
3,159
528
17,071
75,000
3,844
165
24,027
120,000
29,804
17,071
75,000
17.071
78.687
95,758
177.840
nvtstments
2024
2023
Cosl al 1st April
2,444,247
2,435.452
Net movern8nl in the year
-23,464
8,795
Carrying amount at 31st March
2,420,783
2,444,247
Portfolio valUat￿n al 3181 March
£2.788,271 £2,515,799
Fees for Examination of the Accounts
2024
2023
Independent examinors fees lor reporting on the aCco￿nIS
oth8r fees paid lo the examiner
600
708
550
914
1,308
1,464
Staff Gosts
The tha￿tY had no empl¢s￿e$ durit)g th& yaar
Tangible Fixed Assets
Thp charity had no tangible fixed assets
D&btors and p￿payMentS
Arnounts falling due
within one
ear
2024
2023
Trade Debtors
Long Term Loans
Prapaymenls and Aecru8d Inwne

Llanelli Town Estates
Notes to the Fi
Statements
for the
ear endÈd 31st March 2024
¢redltors and Accwals
Amounts fallin
wlthin one
2024
due
ear
2023
Trade Credtlors
Olher Creditors
Accruals
L18nelli Town counci1-Bala￿C8 of Funding
850
6.766
850
6,766
10
Restrl¢ted Funds
2024
2023
ital Reserve Account
As al 1st April
SurplusllDeficill for the Year
A5 al 31st March
Add..Unr8alisèd GainllL0551
2,474,987
-36,300
2,438,687
367,488
2.522,417
47.430
2,474,987
71,552
Total Fund at 31 March
2.806,175
2,546.529
Unrestricted Funds
2024
2Q23
Rev8nue Account
As at 1st April
SurplusllDalicitl for the year
214.543
17,466
227,230
112,6871
As at 31 March
232,009
214,543
12
Anal sls of Assets Belw8en Funds
Restricted
Funds
Revenue
Fund
Total
2023
Fund Balances al 31st March 20Z2
Represented by'.-
Investments- Cosl
Invebtmenls unrealised gainlllo851
Lang Term Loans
Debtors
Cash al Bank
Credilors
2,420,783
367,488
2,420,783
367,488
2,444,247
71,552
10.979
0.00
127,841
18501
138,819
18501
152.044
16,7661
2,799,249
126,991 2,926.240
2,661,077