Llanelli Town Estste Trustees. Re ort and Financial Statements for the ear ended 31st March 2025
Llanelll Town Estate Inde)E rthè gar end•d 31st Mareh 2025 Page Nols}. Independent Examinerfs Report General Inlom)ation Reporl of the Tfuslees Statement of Tru5tees' Rtsponsibilites Statemènt ol Financial Activities Balanc& Sheet 7t09 Notes to the Financh?I Statements
Indopendont Exarninoes Roport to the Tru$t•¢$ of Th• LlaMIII Town E#tsto I report ¢)n the accounts of the Trust for the year ended 31st March 2025, whkh are set out ¢)n paggs 1to9. Respective rosponsibilltlè$ of the TNsle•$ and the Examiner As Ihe Charitys trustees you afe responsible fof the preparab'on of Ihe accounts,. you consider that the audit requirements of section 43121 of the Chalritres Act 1993 Ithe Act syoes not apply. It is my r8sponsibility io state, on (he basis ol pro¢e#ures specified in th8 Gan8ral Directions given by the chty commiss)nerS under section 4317llbl of Ihe Ait, whether any paA%¢ular matters hav8 come to my attention. Basb5 01 Ind8p•nd•nt •xamln•rn report My examination was carrod out Sn accordance with th8 Ggn8ral DirectK)ns givon by the Charity Comrnissbners. An examination includes a review ol the a¢counts"ng record$ kept by the charity and comparison of Ihe accounts pseIed wilh those records. It also includes considerath"or of any unusual item$ or disclosures in Ihe accounts. and seeking explanations from you as Iru5tees concerning any such malt8rs. The procedures und8rtaken do not wovide all Ihe tsvitYen¢e thal would be required in an audrt. and eorE5equenUy I do nol express an opinion on tha wew given by the aeLOUnts. Independent •xamlnr$ $taltM*nt In connectK)n with my examination, no matter has come to my attentsoTr". 111 bvhlch gives m8 rèasonable cause to belleve that In any material respect lh¢ r8qulrem8nts al to keep a¢countlng re¢ords in 8¢cord8n¢e with section 41 of th8 Act., and bl to prepar8 accounts which accord wilh the accounbng records and to complywth th8 accounting requirements of the A¢t have not been met.. or 12110 1¢h. in my opinion, attention 5hwld be dwn in order to enable a proper understanding ol the accounts to be reathed. Derek R Kemp DCK Accounb'ng Sc4utions Ltd Unit 1, Uffeott Fafm Uffcott. Swlndon, Wllis SN4 9N8 Date.. 6th June 2025
Llanelli Town E5tote Gen•ral Infor for the ar ended 31st kl h202 Charlty Registration Number 217250 Registered Llanelli Town Council The Okl Vicarage Town Hall Square SA15 3DD Trustees Llanelli Town Council Signatory lor the Trust Any Two Managernent Comlnittee Llanelli Town Council Indepelldellt Examiners Oerek R Kemp DCK A¢ctsunbng Solutions Ltd Unil 1, Uflcolt Farm Uffcott. Swindon, Wllts SN4 9NB 8ankers HSBC
Re rt of the Trustee for the ear en 1$ h202 Tha Trustèos prtrsont tholr Report and FinanrAal Statements of the charity for the year eHded 31 March 2025. Con The charity is govemed by 8 d6finrtive Trust Deed, namety an Inclosure Award d8ted 241h October 1810. Th8 Trust is registered as a charity under number 217250. F the general beneltt ol the port and town of Llan811i The ra5t5 forthe year arts set out in the Statement of Financi81 Activities on pa98 5. TrusteeB Membevs ol Uanelli Town COU11 Dated.. Tru$t•• Truto0 l/iizr
Llanelli Town Estat ststement of Trusteè'¥ Re for the ear ended 31st Mar¢h UrK18r the Chari'es Acl 1993, the Trustees are quired lo= Keep prop8r accounting records which disdose reasonable accuracy at any timo the finanual position of the char¢ty. Prepare financial statements for each financial year wfiich give a Irue and lair view of the slate of the charills affairs ar¥J of It5 $¢Jru$ or defi¢il for the year and comply with the fegulations made by th8 Sretary ol Stste. In PTepar4ng those financ1 statemen1$. the trusl88s ar8 r8quired to.. select suitable acmuntiry pdiri85 and Ihen apply them ¢onsistenly make judgennts and estimates that are reasonab and prudent sl818 whether applica18 accounting standards hav8 been followad, subject to any matenal departures disdosed and exalned in Ihe financial slalemenls an¢J whether the finanu81 statements have been PrePad in a¢¢ordaACÈ wlh Ihe Staterftent of Recomrnended Pra¢tiee. Accounting by Charities, issued by Ihe Charity CoTnTn155I0n. prere th& financtal st8lements on Ihe goSng conc4rn basis unless it is appropTi81e to pre5umo that Iho charity will ¢onlinue in operation. The Truslees are also responsible saleguarding the assets of the charity hor for taking aSonable steps fot the prevenb"M and detection of fraud and other iFregularilies.
111 Town Eslats t•men Iv ear end•d 31st Marth 025 Notes Re$trl¢t¢d Unr¢$trld•d Funds Funds Funds 2024 Investment IKome In¥8strn8nt GainsllLosstssl Movernenl on Investments Freehold Salgs Baak Ints$t ReceNgd Oth8r Income 66,447 66.447 130,098 64,562 10,006 2,653 62.681 119.2291 1178.7771 29,450 794 3.228 130.098 64.562 10.006 2,653 194.660 276,666 101,853 Direct Charitable Expertdit Movernent on Investment 22,550 2,437 24,987 95.758 Z2,550 2.437 24.987 95,758 Net Incomi R050 172,110 79,569 251.679 1197,6111 Other Re¢Tri$ed Gatns & Lo$8es 64.562 64.562 178.777 Not Movom•nt In Funds 107.548 79,569 187.117 118,8341 alances at 1st April 2.438,687 132.003 2.570.690 2,589.523 BalarKes at 31sl Mah 2,546,235 211,572 2.757.807 2.570.689
Llanelll Town Estate Balance Sheet at 31st Maich 2025 2025 2024 FIX d Assets 2.778,316 2.788.271 Current Assets Lon9 Temi Loans Oeblors & PrepayTThents Cash at Bank General Fund Cash at Bank Restricted Fund 12.045 206,630 64.716 11.938 127.841 10,9Y8 283,391 150.757 Credllor5 Amounts falling wthin one yèar 975 850 Nr*t Current As$ets 282.416 149,907 3,060,732 2.938.178 Restricted Fund5 Capilal Re5etve Account Unre81is8d GainsllLossesl 2.546,235 302.925 2.849.160 2.438,687 367,488 2,806,175 Dr Rev¢nue Account 211.572 132,3 3,060,732 2.938,178 These financial statements were approved by the Tru5tee5 on 1417iz¥ Tntste8 Trusiee
Llan•lll Town Estates Notos to tho A¢c unts for th• 4r 1 t Mayeh 2025 ou Accountlng cOnntIOn Thes8 Accounts have been wep4red the basi$ ot hi$tori¢ cost lÈxcept that inY8slment5 3re shown at market value) in aceordance with Accounting and Reporting by Charities- Statemeni ol ReGOtnrnended Pra¢ti¢ ISORP 20051. INCOMING RESOUR¢ES R¢¢tynlUc+n Of Incomlng R•source8 These ar0 induded in tho Statement of Financial Acti¥e$ ISOFAI when.. the charty becomes entitted lo the re50urces'. th8 Iruste&s afe virtualty certain they will receive the re$our¢e$', and thg monetary Yalu8 can bè Measur with sufficient ralk8kn1ty. Incomlng Rosourcol wllh Rg141od Expondltur• Wher8 incoming resour( have related expenditure Ihe Incoming resources and rola18d expendlture are rewted gf05S in the SOFA. In¥g$tmwt Incomo This is induded Sn the arlounts when reeei¥abl8. I¥1mnt G•lns •nd Los$•$ This includes any galn or loss on the $818 of Investments and any galn or loss fysulting from the ravarj of Investments to market valu8 at the year end. EXPENDITURE AND LIABILITIES Llablllty R•cognltlon LlabUltle$ are re¢ognised as sc¢)n as th8re is a *gal orcon5tru¢twe oblh)ation ¢ommftbng Ih8 charity to pay out resources. G•¥•mance Costs Indude the costs of preparabon and &x8mination ol statutoryaccounts and cost of any t1 advth to trustees on ooveman¢e or ¢wstitulional rnait8rs. ASSETS Inve8tmentg Investments quoted ¢)n a yetnised stock exchange are valued al Maet value at the year end.
Ll Ib Town Esta Notes to tha Finanelal tat•m•nt$ for the ear ended 31$t Mar¢h Rostrict UMrÈstrieted Fund8 Funds Total FuDd$ 2024 Othor Incon78 Rental & Other Income 82.006 82,006 82,006 82.006 96,153 96.153 Olrect Charitable Ex endit Repalrs and Mainlenance PTofe5s¢onal Fees MiSlIan¢03 Expenditure Portfolio Managemènt Fees Grant to Town Council Grant to clear loan SC 2,325 112 2,325 112 22,550 3.159 528 17,071 75,000 22,550 22.S50 2,437 24,987 95.758 Invèstments 2025 2024 Cosl at 1st April 2,420,783 2,444,247 N&t rnovernent in the year 54.608 -23.464 Carrwng amount al 31 $1 March 2,475,391 2.420.783 Portfolio Valu8tion al 31st MaT¢ £2.778.316 £2.788.271 F*$ for ExamFnation of the Accounts 2025 2024 Independent exarninors fees for repotti on the accounts other fees paY lo th& examiner 700 1,110 600 708 1.810 1.308 Staff Costs The charity had no empknyees diJr¢ng Ihe year Tangible Fixed Ass•ts Th8 charity had no tangiNe fixed assets D•btors and prepaymgnt5 Amounts fallln wilhln one due ar 2024 2025 Trade Debtor5 Long Term Loans ppaYmentS and Accru8d Income 12,045 11.938 12,045 11.938
elll Town E8tate8 es to tho Flnanelal Stat•m•nts •nd St ors and Accrua15 Arnounts fallin wlthln one 2025 due ear 2024 Trade Creditors Other Creditors A¢¢ruals Llanelli Town CouncikBalance ol Funding 975 850 975 850 2025 2024 ital R858rYe Acc As at 1st Apnl SurplusllDeliatl lor tho Year As at 31$l March A¢Jd.'UnrealSsed GainllLossl unt 2,438,687 107,548 2,546,235 302,925 2,474,987 -36.300 2,438,687 367,488 Total Fund at 31 Mafc 2.849.160 2,806.175 nreBtrlcted Fund 2025 2024 Revenue Account AS at 1st April SurpluslloefI for the year 232.009 79.569 214,543 17.466 As at 31 March 311.578 232,009 12 al sls of et5 etwoen Fund$ Restrl¢tgd Fund$ Revenue Fund Total 2024 Fund Balances at 31st March 2022 Represent by'.- Invtstmenls- cost Investments- unre81i$ed gainllk)ss Long Term Loans Debtor5 Cash al Bank Cre(itor5 2,475,391 302,925 2.475,391 302,925 2.420,783 367,488 64,716 0.00 206.630 19751 271.346 19751 138.819 18501 2,843,032 205,655 3.048.687 2.926.240
LLANELLI TOWIN ESTATE IRegÈstration Number 2172501 ST TRUSTEES, ANNUAL REPORT FOR YEAR ENDING 31 MARCH 2025 Trustees The Trustees of the Registered Charity known &s Llanelli Town Estate comprise the twenty two eleeted CoLÉncillors (for the time being) of Llanelli Town Council. OtTicers The Chairnian of the Trustees is The Town Mayor (for the time being) of Llanelli Town Council. and the Secretary to the Trustees is The Town Clerk (for the time being) of Llanelli Town Council. Statutory Authorlty An Iiiclosure Award, dated 24, October, 1810 which provides (inter alia) for income to be applied "in improving the Town and Port of Llanelli." Investment Portfolio HSBC Private Banking, HSBC UK plc, 8 Cork Street, London, WIS 3LJ acl as professional adviseTs and brokers managing the Investment Portfolio of the Town Eslale, which represents accumulated income from sale of lands. freehold reversionary interests. etc. The market value of the Portfolio at the 31, March 2025 amountcd to £2,855,078. Ineome Income to the Charity is derived from th¢ following sources, viz'.- Sales of freehold reversionAry illteresis. Dividend incom¢ from investment portfolio. Ground rentals from leasehold properties. Allotment garden5 at Lower Trostre Road. (a) Ib} (c) (d) Expendfiture Heads of expenditure illclude'.- (a) (b) Legal Professional Fees of Ihe Eslale. Investment Portfolio management fees.
Property Thc property compri8inbr Ihc Llanclli Town Esiatc as of. 31 ' Mar¢h 2025 is as follows.'- {a) Ninc Icaschold intcrcsts. viz-_ Address Annu¥l Ground Renl No. 12 C.oniish Place No. 13 Corni81i Place No. 14 Cornish Place No. 20 Cornisli Placc No. 9 GlandafLn Road No. l O Havelolk Strcet No. 13 Ropewalk Road 16.00 1.3.00 4.00 4.00 8.50 1.34 1,1 10.00 (b} DLbringi thc ycar, lh¢ frechold of 80 Ropcwalk Road was sold to Ihc lcascholdcr with £4.896 coiiscquLnily rcccivcd into thty Trust. During the year, Il?c frecliold of 3 Ilavelock Sireet was sold io the leaseli()Ider willi L5,110 con8eqULYltly rcccivcd into thc Trust. (cl It was not i)ec&ssary lo make a grant Ic) Lldnelli Town Council during ihe acLiiuiiling period. Arfon r)avies. Secret to 'l'hc Trustees