REGZSTEReD CHARrrY NUMBERI 218121 TRUSTEES. REPORT AND UNAUDrreD PINANCIAL sfATEMENrs POR THE YEAR ENDED 30 SEPTeMBER 2024 FOR LAUGHARNe CORPORATION LANDS Uewelyrl Davles Chartered Accountants Yelverton House st John Street Whtdarld Camarthenshlre SA34 OAW
LAUGHARME CORPORATlOt4 LANDS CONTeNTS OF THE FINANCXAL STATEMENTS POR THe YEAR ENDED 30 SEPTEMBER 2024 Pag• Referen and Admlnl$trntlv• Dets116 Tru8tees' Report 2 to 3 Independ•nt Examlnetrs Report Ststsment of Vlnanclal Actlvltl•8 Balance Sheet tss to the Pln•nd•l Stat*nt• 7 to 11 Detalled Statsment of pIn¢1•¢ Actlvltl•6 12
LAUGHARNE CIXPORATION LANDS REFERENCE AND ADMINISTRaTIVE DEfAfLS FOR THE YEAR ENDED SO SEPTEMBER 2024 TRUSTEES Anth)ny James ( Portreeve I Chalrman) Jeffrey Downes { Foreman ) Adarn Lewls Paul LewL4 Peter Hlll Wlll Edwards Davld Rees Adr]an Coate5 Adam Fox Kenneth Watts Uoyd Morrts Andrew Edwards Huw Eynon Davld Roberts Davld Hewlett Kevln Mclntosh Derek John Justln John Lloyd Pugh Davld Grffflths Ian Waters Jeffrey Stephenson PRINCIPAL ADDRESS Laugharne Corporatlon Hall Laugharne Camiarthen$hlre SA33 4SA REGISTERED CHARITY NUMBER 218121 INDEPENDeNT mIN1ft Llewelyn Davles Chartered Accountants Yelverton House st John Street Whltland Carmarthenshlre SA34 OAW BANKERS Barclays Bank He Carmarthen 8rnnch
LAUGHARNE CORPORATZON LANDS TRUSTIES. REPORT POR THE YEAR ENDeD 30 SEPTEMBER 2024 The trustees have pleasure In presentlng thelr rewrt and the unaudttsd Ilnandal $tatsments of the charfty for the year ended 30 September 2024. TRUSTEES The Trustees have served throughout the year. Appolntment of trustees Is gO¥ern by the rules of the orlglnal charter of 1297 whlch have more recently been establlshed by a s¢hem• agreed under the Charftles Act 1993 Orn 27 May 2003. LE13AL sfATUS Laughame Cerporatknn Lands became a rtg15tered dmrlty (218121) on 26 Septernber 1963. By agreement wth the Charlty Commlsslon the powers of the tharlty were establlshed by a scheme agreed under the Charftles Act 1993 on 27 May 2003. OBJEcrivEs The objectlves of the Corporatlon are:. {1} The rellef of poverty, old age, dlsablement antl slckness among the Inhabltants. 12) The advancement of educatlon among the Inhabltsnts. {3) The provlslon and support In the Interests of soclal wetfare, of fadllUes ftir the Inhabltants, wlth the objert of Improvlng thelr condltlon of Ilfe. (4) The provlslon of publlc amenltles af a charftable nature for the benefit of the Inhabltsnts. (5) The preservatlon and conseryayon of bulldlngs and land that Is of rchectura1, hlstorfcal, sdentlftc or educatlonal merlt, or, on the Case of land, 1$ of outstandlng natural beauty, for the beneflt of the Inhabltants, (6) Suth other charltable purposes wlthSn Laughame or for the general benefit of the Inhabltants as the Grand Jury of the Court Le•t and the Court Baron of Laughame Corpor•tlon from Vm• to llme thlnks fit. ORGANISATION The Buryesses Qf Laughame elert a Portreeve to preslde over the Grand Jury t¢ admlnlster the affalts of the Corporatlon. The Grand Jury conslsts of hyenty one Jurymen. The Portreeve and the Jurymen are the trustees of the Corporatlon. A recorder Is appolnted to ass]st the Portreeve In the admlnlstratlon of the Corporatlon. PIl¥Ah'CL CONTROLS AND DEveLOPMeNTS The Grnnd Jury meet twlce a month, fomal mlnutes belng kept by the Recorder. For many years the Corporatlon has charged very law rents and Some of the leases were consldered to be perpetually renewable. Wlthln recent years the Corporath)n Sollcltors and the Char]ty Commlssk*ners have established the legal pos70n regardlng Corporntlon lease$. L845eholders galned the opportunlty under the Leasehold Reforni Act to acqulre the freehold of the leasehold property. The reserve5 of the Corporatlon are Inve5te(I In a Charfty Bank ac£ount, the Jurymen have Instituted process to revlew the Investment and management of reserves and Ilmlt each Investment to the ¢urrent GoveTnrnent Compensauon level of £ 85,000. From 2009110 onwards the Jurymen have declded to acqulre sultable freehold propertles In Laughame. To date, seven propertles have been acqulred at a totsl cost of £955,766 and have been revalued to £1,550,000 {2023 £1.550,000) In actordance wlth UK GAAP and are Induded as Flxed A55ets. FINANCIAL REVXEW There was a surplus of £32.435 {2023 - £13.876) In the year.
LAUGHARNE CORPORATION LANDS TRusfEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 RESERVES POUCY The Gefieral Reserves at 30 Septerthr 2024 were £1,080,989 (2023 - £1,048.554) The Revaluation Reswvt at 30 September 2024 was £594,234 (2023 £594,234) taklng the totsl reserve5 to £1.675.223 (2023 - £1,642,788) at the balance sheet dats. RESPONSIBILfiiis OF THE TRUSTEES To compw wlth the duty In Sectk*n 4 of the Charftles Act 2011. To pay due regard to publlc benellt gUIdan by the Commlsslon. To make donatlons to local organlsatlons such as the church, sthools and a tholr. to support a. hall whl¢h holds varlous events throughout the year. To as$lst sports dubs and sportlng actlvltles, and the commlttee responslble for the upkeep of the thlidren's playlng fleld. In addltlon to the donatlons, money has also been spent on a Slte of Specfflc Sdenufic Interest on Corporatlon land, wlth asslstsnce from the Country51de Councll for Wales. STRucfuRE, GOVIRNANCE AND MANAGEMENT Governlng document The charlty Is controlled by Its governlng d¢xumenL a deed of trust and constiwtes an unlncorporat•d charfty. Approved by order of the board of tnjstees on ... by: and slgned on Its behalf e$ - Trustee
INDEPENDEKf MINER's REPORT TO THE TRusfEES OF LAUGHARNE CORPORATION LAt4DS Independent ex8mlnerf$ réport to the trustees of LaughaTne Corporatlon Lands I report to the charlty trustees on my examlnatlon of the accounts of Laugharne Corporatlon Lands (the Tnjst) for the year ended 30 September 2024. Responslbllltles and basls of report As the charlty trustees of the Trust you are responslble for the preparatlon of the atcounts tn accordance th the requlrements of the CPhirltl•s Art 2011 (Ihe Act,). I report In respect of my examlnatlon of the TrusV5 accounts carrled out under Secuon 145 of the Act and In carylng out my examlnatlon I have followed all appllcable Dlrectfons glven by the Chartty Cornmls$lon undw Sertion 145(5){b) of the Art. Independent examlnerfs statement I have completed my examlnatlon. I conltrn) that no materlal matters have come to my attenuon In connertion wlth the examlnatlon glvlng m• cause to belleve that In any matertal respect: accounung records were not kept In respert of the Trust as requlred by Sertlon 130 of the Art; or the accounts do not accord wlth those re¢ords; or the accounts do not comply wlth the appllcable requlrements con¢•rnlng the fomi and content of accounts set out In the Charf(les (Accounts and Reports) Regulatkns 2008 other than any requlrement that the accounts gwe a true and falr v5ew whlch Is not a matter consldered as part of an Independert examlnatlon. I have no concern$ and have come across no other matters In connectlon the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understsndlng of the accounts to be reathed. Nf C R John ACA FCCA Ll•welyn Davles Chartered Accountants Yelverton House st John Street Whltland Carmarthenshlre SA34 OAW Oate: ..... v..J.1.xx2.S................
. LAUGHARNE CIXPORATION LANDS ATEMeNT OF PINANCIAL AcfivzTfES FOR THE YEAR ENDED 30 SEPTEMBÉR 2024 2024 UTrTrt fvnds 2023 Totsl fiinds Notes INCOME AND ENDOWMENfs FRQM Donatlons and legacles 8.349 8.731 Other trading actlvEttes Investmt Income 1,124 62,496 729 62,516 Total 71.969 71,976 EXPENDITURE ON Ralslng funds 39,534 58,100 NEf INCOME 32,435 13,876 RECONCXUATION OF FUNDS Totsl funds brought forward 1,642,788 1,628,912 TOTAL PVNDS CARIUED PIXIWARD 1,675,223 1.642,788 The notes fonn part of these flnanclal statements
LAUGHARNÈ CORPOUTZON LANDS ALANCE SHEET 30 SEPTEMBER 2024 2024 Unrestrlrted funds 2023 Totsl funds PIXED ASSITS Investment property 1,550,000 1,550,000 CURRErir ASSETS 2,600 123,823 2,482 105,342 Cash at bank 126,423 107,824 CREDrroRS Amounts falllng due wlthln one year (1,200) (15,036) r4Er CURRENT ASSETS 125,223 92,788 TOTAL ASSETS LESS CURRII LIABXLrriES 1,67S,223 1,642,788 NET A5SErs 1,675,223 1,642,788 FUNDS Unrestrtrted funds: General fvnd Revaluatlon Reserve io 1,080,989 594,234 1,048.554 594,234 1,675,223 1,642,788 TOTAL FUNDS 1,675.223 1,642.788 The flnanclal statements were approved by the Board of Thjstees and authorfsed for Issue on A&..<sYth...4p.A&..,....... and vRre slgned on Its behalf by: ames - Trustee Tho notes fotTh part of these flnarKlal staterr*nts
.LAUGHARNE CORPORATION LANDS NOTES TO THE PINANCIAL sfA7EMErfrs FOR THE YEAR ENDED 30 SIPTEMBER 2024 ACCOUNTING POLZCIES Basls of preparlng the flnandal statements The flnandal statements of the charlty. whtch 15 a publlc benefit enuty under FRS 102, have been prepared In accordance wlth the Charttles SORP (FRS 102) 'Accountlng and Reportlng by Charftles: statement of Recommended Prartte applicable to ¢har]Ues preparlng thelr accounts In accordance wlth the FtnJn¢lal Reportlng Stsndard applicable In the UK and Republic of Ireland IFRS 102) (effectlve l January 2019)., Flnanclal Reportfng Standard 102 Thè Flnanclal Reportlng Stsndard appllcable In the UK and Republlc of Ireland, and the Charftles Act 2011. The financlal statements hav• •Th prepared under the hlstorlcal cost convenuon. Income All Income ts reeognlsed In the Ststement of Flnanclal ActlvJtJes once the charty has entltlement to the funds, It Is probable that the Income wlll be recelved and the amount can be measured rellably. Expendlture Uabillties a recognlsed as expendtture as soon as there Is a legal or tonstrucuve obllgatton commlttlng the chamty to that expendlture, It Is probable that a transfer of economlc benefft5 wlll be requlred in settlemert and the amount of the obllgatlon can be measured rellabty. Expendlture 15 accounted for on an accyuals basls and has been dasslned under headlngs that aggregate all cost related to the category. Where ¢ost$ cannot be dlre¢dy attrlbuted to partlcular headlngs they have been allocated to artlvltles on a basls conslstent the use of resources. Znvestment property Investment property Is shown at most recent valuatlon. Any aggregate surplus or defldt arfslng from change5 In falr value Is recogntsed In the Statement of Flnanclal Artlvltl•$. Taxatlon The charlty Is •x•mpt from t4x on Its ch•riabl* artlvltles. Pund accountlno Unre$eted funds can be used In accordan with the chartsble objecttves at the dlscretlon of the trustee5. Restrlcted funds can only be used for partlcular restrfrted purposes wlthln the objects ol the charfty. Restrl¢tlons arfse when spe¢lfled by the donor or when funds are ralsed for partlcular restrlcted purposes. Further explanatlon of the nature and purpos• of each fund 1$ Included In'the Notes to the flnanclal ststements. OTHER TRADING ACTIVrnES 2024 2023 Fundralslng events 1,124 729
LAVGHARNE CI)RPORATION LANDS NOTES TO THE pzf4ANCIAL STATEMENTS- t£•ntlnued FOR THE YEAR ENDED 30 SEPTEMBER 2024 ZNVESTMENT ZNCOMI 2024 2023 Legacy rents recelved Investments Interest Investment properttes rent 13,308 460 48,728 14,151 48,362 62,496 62,516 RAISING PUNDS Investment management costs 2024 2023 Rent collecyon Property repalryJ Support costs 2.917 11,571 25,046 2,750 9,829 45,521 39.534 58,100 TRUSTEES. REMUNERATION AND BENEFITS There were no tru5tses' reThNnefatk*n or other beneffts for the year ended 30 September 2024 nor for the year ended 30 September 2023. Trustees. expenM• Durfng the year £4,825 (2023 £4.625) was pald In respert of honorarfa and expenses ts the trustees and rncordor. COMPARaTIVeS •OR THE sfAT£MQNT OP FINANCIAL ACTThmEs Unrestrfcted funds INCOME AfiD ENDOWMEf4TS FROM Donaviolls arid ifjqa¢JÉ> 8.731 Other tradlng attlvltles Investment Income 729 62,516 Total 71.976 EXPENDITURE ON Ralslng fund5 58,100 IIET INCOME 13,876 RECONCILJATZON OF PUNDS Totsl fvnds brought forward 1,628,912 TOTAL PUNDS CARRIED FORWARD 1,642,788
LAUGHARNE CQRPORATION LANDS HrEs TO THE FINANCIAL sfATEMENTS- contlnued POR THE YeAR ENDED 30 SEPTEMBeR 2024 INVEMENT PROPERTY FAIR VALUE At i October 2023 Ind 30 Septernber 2024 1,550,000 NET BOOK VALUE At 30 September 2024 1,5SO,000 At 30 Septsmber 2023 1,550,000 Falr value at 30 Septener 2024 ts represented by: Valuatlon In 2018 Valuatlon In 2019 Valuatlan In 2020 Valuatlon In 2021 Valuatlon In 2022 Cost 35,600 49,884 104,125 286,344 118,281 955,766 1,550,000 DEBTORS: AMOUNTS FALLING DUE TKIN ONE YEAR 2024 2023 Trade debtsrs 2,600 2.482 CREDITORSI AMouKfs FALLING DUE WITHIN ONE YEAR 2024 2023 other credttors 1,200 15,036 10. MOVEMEKf IN FUNDS At 1.10.23 movermrt In funds 30.9.24 Unr¢rtrl¢t•d funds GeneToI fund Revaluatlon ReseNe 1,048,554 594,234 32.435 1.080,989 594,234 1,642,788 32,435 1,675,223 TOTAL FUNDS 1,642,788 32,435 1,675,223 Net movement In funds, Included In the above are as follows: Incomlng resources ReUre0$ expended Moveffnt In funds Unrestrlcted ndS Generdl fund 71,969 (39,534) 32,435 TOTAL PUNDS 71,969 (39,534) 32,435
LAUGHARNE CORPORATION LANDS NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnu•d FOR THE YEAR ENDED 30 SEPTEMBER 2024 10. MOVEMENT IN FUNDS * ntInUed comparat1v for n¢mOnt In fvnd• Net movemert In funds At 1.10.22 At 30.9.23 Unrestrfcted funds General fund Revaluatlon ReseNe 1,034,678 594,234 13,876 1,048,554 594,234 1,628,912 13,876 1,642.788 TOTAL PUNDS 1.628.912 13,876 1,642,788 Comparattve net movement In funds, huded In the above are as ft*ll0, Incomlng rnsources Resources expended Movement In funds Unrestrlcted funds General fund 71,976 (58,100) 13,876 71yfAL PUNDS 71,976 (58,100) 13.876 A curreftt year 12 rrthths and prlor year 12 months comblned posklon b as follow5: Not movement In fijnds At 30.9.24 1.10.22 Unre•trf<tsd funds General fiind Revaluatlon Reserve 1,034,678 594,234 46,311 I,OGO,989 594,234 1,628.912 46.311 1,675.223 TOTAL FUNDS 1,628.912 46,311 1,675,223 A ojrrent year 12 months and prfor year 12 months rnb1ned net wVernent In funds. Induded In the above are as follows: Incoming resources Resources expended Movem?nt In funds Unrestrfcted fund$ Generdl fund 143,945 (97,634) 46.311 TOTAL FUNDS 143,945 (97,634) 46,31L -io-
LAUGHARPa CORPORATION LANDS NOTes TO THe NANcL STATEMEfus- contlTrued POR THE YEAR E14DED 30 SEPTEMBER 2024 11. RELATED PARTY DZSCLOSURES There were no related party transacuons for the year ended 30 Septsmber 2024. 12. ULMATE COKfROLUNG PARTY The charity is controlled by the Trustees -li-