REGISTERED CHARITY NUMBER: 217764
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 September 2024
for
Nefyn Town Trust
Griffith, Williams & Co Chartered Accountants 36 Stryd Fawr Pwllheli Gwynedd LL53 5RT
Nefyn Town Trust
Contents of the Financial Statements for the Year Ended 30 September 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 13 |
| Detailed Statement of Financial Activities | 14 |
Nefyn Town Trust
Report of the Trustees
for the Year Ended 30 September 2024
The trustees present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Trust was established by and its operations governed by the Charity Commission, Scheme Number B/40753, dated 4[th] March 1890; the purpose being to maintain and manage, and to apply the income derived from land and property remaining as a permanent endowment following the dissolution of the Nefyn Corporation (1890). Under power given in the Charities Act 1993 a new scheme was introduced on 26[th] September 2006 known as the Nefyn Town Trust (217764).
Related parties
Due to the nature of the charity's operations and the composition of the board of trustees it is inevitable that transactions will take place with organisations in which a member may have an interest. All transactions involving organisations in which a trustee may have an interest are conducted at arm’s length. The charity has a policy that all trustees must declare an interest if a related party transaction occurs.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
217764
Principal address
Gwalia Bach Stryd Moreia Nefyn Gwynedd LL53 6HG
Trustees
J G Thomas M R Jones B Jones G Williams W J Trenholme J A Jones
Independent Examiner
Griffith, Williams & Co Chartered Accountants 36 Stryd Fawr Pwllheli Gwynedd LL53 5RT
Bankers
HSBC Bank plc 48 High Street Pwllheli Gwynedd LL53 5SE
Page 1
Nefyn Town Trust
Report of the Trustees (Cont’d)
for the Year Ended 30 September 2024
The Trust employs a clerk / secretary, Ffion Jones, on a part time basis. Mrs. Jones has adapted to the work and does it very well.
During the last twelve months, we continued conducting face to face meetings and we were able to deal with matters by phone as required and that worked well.
The list of properties in the Trust’s name is as follows,
26 houses (leased)
-
1 small house (used as Trust office)
-
6 garages (converted from old cottages – leased)
-
2 Store rooms (converted from old cottages – leased)
-
1 land area (site of the old Madryn Hall)
2 land areas (1 at Cefn y Maes and the other by the old St Mary’s Church now known as the Maritime Museum)
The Trust is responsible for the old town well of St Mary’s Church which is situated in the centre of the town and the watch tower located at Tower Hill, both these structures are registered as grade two listed buildings, numbered 19922 and 4372 respectively, and are therefore subject to governmental regulations.
On commencement of the scheme all lands and buildings were vested in the Official Trustee of Charity Lands.
The Trust’s responsibilities can be summarised as:–
Defraying the cost of repair and maintenance, insurance and all other charges in respect of the trust properties, when all the above costs and obligations have been met, to give and support and assistance to other organisations operating for the benefit of the public within the community of Nefyn.
Review of activities and progress
Repairs and maintenance
There was very little major repairs and maintenance required during the year. All the houses were occupied, apart from one that became vacant during the year.
The site at Madryn Hall has now become a new car park and we are debating how to charge for parking so as to recover the costs of the development. The car park site looks good and is very tidy.
Finances
The current financial position can be seen in the Statement of Financial Activities for the year ended 30[th] September 2024 which indicates the current healthy and sound state of the finances.
Other
During the year the Trust was awarded a grant from the Welsh Government under the Perthyn scheme, administered by Cwmpas (formely the Wales Co–operative Centre), to further the provision of community led housing. The initial grant was provided for the preliminary costs involved in the acquisition of adjoining Trust property with a view to developing further affordable housing units.
Approved by order of the board of trustees on 31 July 2025 and signed on its behalf by:
........................................................................... J G Thomas – Chairman & Trustee
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Ymddiriedolaeth Drefol Nefyn
Adroddiad yr Ymddiriedolwyr
am y flwyddyn yn diweddu Medi 30[ain] 2024
Mae Ymddiriedolaeth Drefol Nefyn yn elusen gofrestredig heb ei ymgorffori rhif 217764. Cyfeiriad swyddfa’r Ymddiriedolaeth yw – Gwalia Bach, Stryd Moreia, Nefyn, Pwllheli, Gwynedd LL53 6HG.
Bu’r bobl a enwir isod yn ymddiriedolwyr yn ystod y deuddeg mis:-
J G Thomas M R Jones B Jones G Williams W J Trenholme J A Jones
Talodd yr Ymddiriedolaeth Ffion Jones fel clerc / ysgrifennydd ar delerau rhan amser. Mae Mrs. Jones wedi addasu i’r gwaith ac yn ei wneud yn dda iawn.
Yn ystod y flwyddyn parhawyd gyda’r drefn o gyfarfod wyneb yn wyneb ynghyd ag ymdrin â materion dros y ffôn yn ôl yr angen a bu hyn weithio yn dda.
Sefydlwyd yr Ymddiriedolaeth ym 1890 a rheolwyd ei gweithgareddau gan gynllun Comisiwn yr Elusennau rhif B/40753 yn ddyddiedig Mawrth 4[ydd] 1890. Pwrpas yr Ymddiriedolaeth oedd cynnal a chadw a defnyddio incwm o’r adeiladau a thiroedd fel gwaddol i’r dyfodol yn dilyn diddymu Corfforaeth Nefyn ym1890. O dan y pŵer a roddwyd yn Neddf Elusennau 1993 cyflwynwyd cynllun newydd ar y 26[ain] o Fedi 2006 i’w adnabod fel Ymddiriedolaeth Drefol Nefyn (217764).
Rhestrir y canlynol fel eiddo i’r Ymddiriedolaeth:–
26 o dai (ar osod)
1 tŷ bychan (defnyddir fel swyddfa’r Ymddiriedolaeth)
6 modurdy (wedi’u haddasu o hen fythynnod – ar osod)
2 stordy (wedi’u haddasu o hen fythynnod – ar osod)
1 darn o dir (lleoliad yr hen Neuadd Madryn)
2 ddarn o dir (un ar y Maes, y llall yn faes parcio ger Eglwys Santes Fair a’i adnabyddir yn awr fel yr Amgueddfa Forwrol)
Mae’r Ymddiriedolaeth hefyd yn gyfrifol am Hen Ffynnon y Santes Fair a leolir yng nghanol y dref a’r Hen Dŵr a leolir yng Nghefn Tŵr. Mae’r ddau adeilad yn awr wedi’u cofrestru fel adeiladau cofrestredig Graddfa 2, rhif 19922 a 4372 yn ôl eu trefn, ac felly yn atebol i reoliadau llywodraethol.
Ar ddechrau’r cynllun cofrestrwyd yr holl adeiladau a thiroedd gan yr Ymddiriedolwr Swyddogol o Diroedd Elusennol.
Gellir cofnodi dyletswyddau’r Ymddiriedolaeth fel a ganlyn:–
Talu’r costau cynnal a chadw, yswiriant ac unrhyw gostau eraill parthed eiddo’r Ymddiriedolaeth. Wedi sicrhau talu’r costau a’r rhwymedigaethau uchod, i gefnogi a chynorthwyo sefydliadau eraill sydd yn gweithredu er budd y cyhoedd o fewn cymuned Nefyn.
Page 3
Ymddiriedolaeth Drefol Nefyn
Adroddiad yr Ymddiriedolwyr am y flwyddyn yn diweddu Medi 30[ain] 2024
Adolygiad o’r Gweithgareddau a Datblygiadau
Cynnal a chadw – Ychydig iawn o gostau neilltuol cynnal a chadw oedd ei angen yn ystod y flwyddyn. Mae’r oll o’r tai yn awr wedi eu gosod heblaw am un ddaeth yn wag yn ystod y flwyddyn. Mae safle’r hen Neuadd Madryn yn awr yn faes parcio newydd ac yr ydym yn trafod sut i godi tâl am barcio fel bo modd adennill costau’r datblygiad. Mae safle’r maes parcio yn edrych yn daclus iawn ac yn edrych yn dda.
Sefyllfa Ariannol – Gwelir y sefyllfa ariannol yn y datganiad ariannol am y flwyddyn hyd at 30[ain ] Medi 2024, sydd hefyd yn dynodi iechyd a chadernid sefyllfa ariannol yr Ymddiriedolaeth.
Arall – Yn ystod y flwyddyn derbyniwyd grant cynllun Perthyn, a weinyddir gan Cwmpas (Canolfan Gyd–weithredol Cymru gynt) er mwyn enhangu darpariaeth tai cymunedol. Darparwyd y grant cychwynol ar gyfer costau rhagarweiniol prynu eiddo ar ffin eiddo’r Ymddiriedolaeth gyda’r bwriad o ddatblygu undeau Tai Fforddiadwy pellach.
Cymeradwywyd dan orchmyniad bwrdd yr ymddiriedolwyr ar 31[ain] Gorffennaf 2025 ac arwyddwyd ar ei ran gan:
……………………………
J G Thomas – Cadeirydd ac Ymddiriedolwr
Page 4
Independent Examiner's Report to the Trustees of Nefyn Town Trust
Independent examiner's report to the trustees of Nefyn Town Trust
I report to the charity trustees on my examination of the accounts of Nefyn Town Trust (the Trust) for the year ended 30 September 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair 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 to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
P. O. Horwood
Griffith, Williams & Co Chartered Accountants 36 Stryd Fawr Pwllheli Gwynedd LL53 5RT
Date: 21[st] July 2025
Page 5
Nefyn Town Trust
Statement of Financial Activities for the Year Ended 30 September 2024
| 30.9.24 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Management and Administration of the Charity 12,200 Other trading activities 2 135,520 Investment income 3 716 Total 148,436 EXPENDITURE ON Charitable activities Direct Charitable Expenditure 42,081 Management and Administration of the Charity 30,441 Total 72,522 Net gains on investments 15,247 NET INCOME 91,161 RECONCILIATION OF FUNDS Total funds brought forward 412,546 TOTAL FUNDS CARRIED FORWARD 503,707 |
30.9.23 Total funds £ - 124,694 672 125,366 54,148 17,181 71,329 3,576 57,613 354,933 412,546 |
|---|---|
The notes form part of these financial statements
Page 6
Nefyn Town Trust
| Balance Sheet 30 September 2024 30.9.24 Unrestricted funds Notes £ FIXED ASSETS Investments 7 159,474 CURRENT ASSETS Cash at bank and in hand 348,033 CREDITORS Amounts falling due within one year 8 (3,800) NET CURRENT ASSETS 344,233 TOTAL ASSETS LESS CURRENT LIABILITIES 503,707 NET ASSETS 503,707 FUNDS 9 Unrestricted funds 503,707 TOTAL FUNDS 503,707 |
30.9.23 Total funds £ 144,227 269,699 (1,380) 268,319 412,546 412,546 412,546 412,546 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J G Thomas - Trustee
The notes form part of these financial statements
Page 7
Nefyn Town Trust
Notes to the Financial Statements
for the Year Ended 30 September 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 25% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Rental income | 135,520 | 124,694 |
continued...
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Nefyn Town Trust
Notes to the Financial Statements - continued
for the Year Ended 30 September 2024
3.
INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Bank interest received | 76 | 37 |
| Investment Fund income | 640 | 635 |
| 716 | 672 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Other trading activities | 124,694 |
| Investment income | 672 |
| Total | 125,366 |
| EXPENDITURE ON | |
| Charitable activities | |
| Direct Charitable Expenditure | 54,148 |
| Management and Administration of the | |
| Charity | 17,181 |
| Total | 71,329 |
| Net gains on investments | 3,576 |
| NET INCOME | 57,613 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 354,933 |
| TOTAL FUNDS CARRIED FORWARD | 412,546 |
continued...
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Nefyn Town Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
6. TANGIBLE FIXED ASSETS
| 6. | TANGIBLE FIXED ASSETS | |
|---|---|---|
| Office | ||
| Equipment | ||
| £ | ||
| COST | ||
| At 1 October 2023 and 30 September 2024 | 105 | |
| DEPRECIATION | ||
| At 1 October 2023 and 30 September 2024 | 105 | |
| NET BOOK VALUE | ||
| At 30 September 2024 | - | |
| At 30 September 2023 | - | |
| 7. | FIXED ASSET INVESTMENTS | |
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 October 2023 | 144,227 | |
| Revaluations | 15,247 | |
| At 30 September 2024 | 159,474 | |
| NET BOOK VALUE | ||
| At 30 September 2024 | 159,474 | |
| At 30 September 2023 | 144,227 | |
| There were no investment assets outside the UK. | ||
| Cost or valuation at 30 September 2024 is represented by: | ||
| Listed | ||
| investments | ||
| £ | ||
| Valuation in 2024 | 159,474 |
continued...
Page 10
Nefyn Town Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 9. MOVEMENT IN FUNDS Unrestricted funds General fund Perthyn Grant fund TOTAL FUNDS Net movement in funds, included in the above are a Unrestricted funds General fund Perthyn Grant fund TOTAL FUNDS |
s follows: Incoming resources £ 136,236 12,200 148,436 148,436 |
At 1.10.23 £ 412,546 - 412,546 412,546 Resources expended £ (58,091) (14,431) (72,522) (72,522) |
30.9.24 30.9.23 £ £ 3,800 1,380 Net movement At in funds 30.9.24 £ £ 93,392 505,938 (2,231) (2,231) 91,161 503,707 91,161 503,707 Gains and Movement losses in funds £ £ 15,247 93,392 - (2,231) 15,247 91,161 15,247 91,161 |
|---|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.10.22 £ 354,933 354,933 |
Net movement in funds £ 57,613 57,613 |
At 30.9.23 £ 412,546 412,546 |
|---|---|---|---|
continued...
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Nefyn Town Trust
Notes to the Financial Statements - continued
for the Year Ended 30 September 2024
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 125,366 125,366 |
Resources expended £ (71,329) (71,329) |
Gains and Movement losses in funds £ £ 3,576 57,613 3,576 57,613 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Perthyn Grant fund TOTAL FUNDS |
At 1.10.22 £ 354,933 - 354,933 354,933 |
Net movement in funds £ 151,005 (2,231) 148,774 148,774 |
At 30.9.24 £ 505,938 (2,231) 503,707 503,707 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Perthyn Grant fund TOTAL FUNDS |
Incoming resources £ 261,602 12,200 273,802 273,802 |
Resources expended £ (129,420) (14,431) (143,851) (143,851) |
Gains and Movement losses in funds £ £ 18,823 151,005 - (2,231) 18,823 148,774 18,823 148,774 |
|---|---|---|---|
continued...
Page 12
Nefyn Town Trust
Notes to the Financial Statements - continued
for the Year Ended 30 September 2024
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2024.
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Nefyn Town Trust
Detailed Statement of Financial Activities for the Year Ended 30 September 2024
| Detailed Statement of Financial Activities for the Year Ended 30 September 2024 |
||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Rental income | 135,520 | 124,694 |
| Investment income | ||
| Bank interest received | 76 | 37 |
| Investment Fund income | 640 | 635 |
| 716 | 672 | |
| Charitable activities | ||
| Grants | 12,200 | - |
| Total incoming resources | 148,436 | 125,366 |
| EXPENDITURE | ||
| Charitable activities | ||
| Clerical wages and expenses | 7,120 | 6,240 |
| Rates and water | 76 | 75 |
| Insurance | 7,452 | 5,717 |
| Light and heat | 245 | 712 |
| Sundry expenses & room hire | 3,813 | 2,642 |
| Accountancy | 2,546 | 1,818 |
| Professional fees | 16,577 | 5,627 |
| Property maintenance & repairs | 31,629 | 47,374 |
| Donations | 3,000 | 1,057 |
| 72,458 | 71,262 | |
| Support costs | ||
| Finance | ||
| Bank charges | 64 | 67 |
| Total resources expended | 72,522 | 71,329 |
| Net income | 75,914 | 54,037 |
This page does not form part of the statutory financial statements
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