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$trntlv• Dets116 Tru8tees' Report 2 to 3 Independ•nt Examlnetrs Report Ststsment of Vlnanclal Actlvltl•8 Balance Sheet tss to the Pln•nd•l Stat*n￿t• 7 to 11 Detalled Statsment of pIn￿¢1•¢ Actlvltl•6 12 LAUGHARNE CIXPORATION LANDS REFERENCE AND ADMINISTRaTIVE DEfAfLS FOR THE YEAR ENDED SO SEPTEMBER 2024 TRUSTEES Anth)ny James ( Portreeve I Chalrman) Jeffrey Downes { Foreman ) Adarn Lewls Paul LewL4 Peter Hlll Wlll Edwards Davld Rees Adr]an Coate5 Adam Fox Kenneth Watts Uoyd Morrts Andrew Edwards Huw Eynon Davld Roberts Davld Hewlett Kevln Mclntosh Derek John Justln John Lloyd Pugh Davld Grffflths Ian Waters Jeffrey Stephenson PRINCIPAL ADDRESS Laugharne Corporatlon Hall Laugharne Camiarthen$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 $tatsments of the charfty for the year ended 30 September 2024. TRUSTEES The Trustees have served throughout the year. Appolntment of trustees Is gO¥ern￿ by the rules of the orlglnal charter of 1297 whlch have more recently been establlshed by a s¢hem• agreed under the Charftles Act 1993 Orn 27 May 2003. LE13AL sfATUS Laughame Cerporatknn Lands became a rtg15tered dmrlty (218121) on 26 Septernber 1963. By agreement wth the Charlty Commlsslon the powers of the tharlty were establlshed by a scheme agreed under the Charftles Act 1993 on 27 May 2003. OBJEcrivEs The objectlves of the Corporatlon are:. {1} The rellef of poverty, old age, dlsablement antl slckness among the Inhabltants. 12) The advancement of educatlon among the Inhabltsnts. {3) The provlslon and support In the Interests of soclal wetfare, of fadllUes ftir the Inhabltants, wlth the objert of Improvlng thelr condltlon of Ilfe. (4) The provlslon of publlc amenltles af a charftable nature for the benefit of the Inhabltsnts. (5) The preservatlon and conseryayon of bulldlngs and land that Is of rch￿ectura1, hlstorfcal, sdentlftc or educatlonal merlt, or, on the Case of land, 1$ 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'C￿L 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 pos￿70n 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$lon undw Sertion 145(5){b) of the Art. Independent examlnerfs statement I have completed my examlnatlon. I conltrn) that no materlal matters have come to my attenuon In connertion wlth the examlnatlon glvlng m• cause to belleve that In any matertal respect: accounung records were not kept In respert of the Trust as requlred by Sertlon 130 of the Art; or the accounts do not accord wlth those re¢ords; or the accounts do not comply wlth the appllcable requlrements con¢•rnlng the fomi and content of accounts set out In the Charf(les (Accounts and Reports) Regulatk*ns 2008 other than any requlrement that the accounts gwe a true and falr v5ew whlch Is not a matter consldered as part of an Independert examlnatlon. I have no concern$ 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 UTrT￿rt 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&.. 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 H￿rEs TO THE FINANCIAL sfATEMENTS- contlnued POR THE YeAR ENDED 30 SEPTEMBeR 2024 INVE￿MENT 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 Septen*er 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 Re￿Ure0$ expended Moveff*nt 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, h￿uded 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