REGIsfERED CHARrrY NUMBER: 218121 TRUSTEES. REPORT AND UNAUOThED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 FOR LAUGHARNE CORPORATION LANDS Llewelyn Davies Chartered Accountants Yelverton House St John Street Whltland Carmarthenshlre SA34 OAW
LAUGHARNE CORPORATION LANDS REFERENCE AND ADMINISTRATtVE DEfAILS FOR THE YEAR ENDED 30 SEPTEMBER 2025 TRUSTEES Anthony James { Portreeve / Chairman} Jeffrey Downes ( Foreman ) Wayne Watklns Gavln John Kelth John Matthew Twyman Mohamed Malgamarfe Cllve Roberts Ben Uoyd Tom Lloyd Mark Stephenson Ashley Rlchards Carl Smith Robert Richards Wayne Makepeace Steven Allsop Chrlstopher Rees John Pearce Uoyd Pugh Matthew Howells Patrlck Brace Ken Hlckson PRINCIPAL ADDRESS Laugharne Corporation Town Hall Laughame Camiarthenshlre SA33 4SA REGIsfERED CHARrrY NUMBER 218121 INDEpENDEr EXAMINER UeY4elyn Davles Chartered Accountants Yelverton House St John Street Whitland Carmarthenshlre SA34 OAW BANKERS Barclays Bank PIC Cam)arthen Branch
LAUGHARNE CORPORATION IANDS TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The trustees have pleasure In presentlng thelr report and the unaudited financial statements of the chaty for the year ended 30 September 2025. TRUSTEES The Trustees have served throughout the year. Appolntment of trustees Is governed by the rules of the orlglnal charter of 1297 whlch have more recently been establlshed by a scheme agreed under the Charities Act 1993 on 27 May 2003. LEGAL STATUS Laughame Corporation Lands became a reglstered chartiy 12181211 on 26 September 1963. By agreement with the Charlty Commlsslon the powers of the charfty were established by a scheme agreed under the Charltles Act 1993 on 27 May 2003. OBJEcfIvES The objertives of the Corporatlon a:_ 11) The relief of povertyi old age, dlsablement and slckness among the inhabitants. {2) The advancement of education among the Inhabltants. (3) The pmvlsion and support, In the Interests of soclal welfare, of facllltles for the Inhabitants, wlth the object of improvlng thelr conditlon of life. {41 The provision of publ1¢ amenltles of a charltable nature for the benefit of the Inhabltants. {5) The preservation and tonservation of bLFlldlngs and land that Is of archltertvral, hlstodcal, sclentlflc or educatlonal merft, or, on the case of land, Is of outstanding natural beauty, for the benefit of the Inhabltants. 161 Such other charltable purposes wtthln Laugharne or for the general benefft of the inhabitants ès the Grand Jury of the Court Leet and the Court Baron of Laughame Corporatlon from tlme to tlme thlnks flt. ORGANISATXON The Burge55es of Laughame elect a Portreeve to preslde over the Grand Jury to administer the affairs of the Corporation. The Grand Jury conslsts of twenty one Jurymen. The Portreeve and the Jurymen are the trustees of the Corporatlon. A recorder Is appolnted to asslst the Portreeve In the aiiminlstratlon of the Corporatlon. FINANCIAL CONTROLS AND DEVELOPMENTS The Grand jury meet twlce a month, fomal mlnutes being kept by the Recorder. For many years the Corporation has charged very low rents and some of the leases were consldered to be peetUallY renewable. Withln recent years the Corporatlon Solicitors and the Charity Commissloners have established the legal position regarding Corporatlon leases. Leaseholders gained the opportunity under the Leasehold Refom) Art to acqulre the freehold of the leasehold property. The reseNes of the Corporation are invested in a Charity Bank account, the Jurymen have Instttuted process to review the Investsnent and management of reseNes and Ilmlt each Investment to the current Government Compensation level of £ 85,000. From 2009110 onwards the Jurymen have declded to acquire suitable freehold propertles In Laugharne. To date, seven propertles have been acqulred at a total cost of £955,766 arsd have been revaluetl to £1,550,000 (2024 - £1,550,000) In accordance wlth UK GAAP and are Included as Flxed Assets. FINANCIAL REVIEW The was a surplus of £29,14512024 - £32,435) In the year.
The Gwral Reserves at 30 septtr 2025 were £l.110,134 (2024. £LOW).989) The Re¥aluatkfft ReseNe at 30 September 2025 was £594,234 (2024 - £gJ4.234} tskthg the totsl reserves tt £1704.368 (2024- £1.675,223) at the tsIan sheet dat To comply wlth the dity In Sedl)n 4 of the Charls Act 2011. To pay due reganl to beneftt guldance ty ts Comm15SityK To make daonS to local or94$atts sh a5 the thunh, XI15 WKI a d1r, to a h)11 whkh thlldren's playlng field. ..0%...... and SIgn on ts beha Mr
INDepENDENT EXAMXNER'S REPORT TO ThE TRUSTEES OF LAUGIIARME CORPORATXON LA14DS Xnd•p•ndent •xamlner'• rewt to the tNst••s of Laugharne COrakIn L••d• l port to the tharlty trustees on my examinaUon of the accounts of Laugharne corporaU Lands (the Trust) for the year ended 30 September 2025. Re$ponbIlItIeS b•sls of rnport As the charity trnste8s of the Twst Y are responslble for the preparRtlon of the acc(n In a¢cordan th the requlrements of the Charitles A( 2011 (' A¢t'}. I report In respect rf my examlnatk)n of the Tntsvs accwnts orrted out undw Secuon 145 rf the Act and In Lanyltvj out my examlnatlon I have folw¢d all appSlcable Dlrettlons glven by the Chadty Comrn15$1on under Section 145(5)(b) of the A(L I have completed my examlnatlon. I confirm that no matertal matteT5 have come to my attentb)n in connettion wlth the examlnaUon glvlng me cause to bebeve that In any materlal respert: accountlng records We not kept In respect of the TnLSt as required by Section 130 of the Art: or the accounts do not accord with tfv)5e rerords: or the accounts do rnt comply with the applicable requlrernerts concemlng the fomi and contert of ¢counts set out In the Charliles {A¢xounts and Report5) Regulatio 20D8 other than any requlrement that the a¢counts gfve a true and fair vthv whlch is not a matter consldered as part rf an IndepeThlent examirwtion. I have no (Orerr and have come acrw no other mèttws In conne(tk)n wlth the examlnatlon to which ottentknn should be drawn in thls report In cffder to enable a proper under5tandthw of the accounts to be reached. Mr C R John ACA FCCA Llewelyn Dav*s Chortered Accountants YeertOn House St John Street Whltland Cannarthenshlre SA34 OAW
LAUGHARNE CORPORATION LANDS STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 30 SEPTEMBER 2025 2025 Unrestricted funds 2024 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacles 8,402 8,349 other tradlng actlvltles Investment income 3,925 69,842 1,124 62,496 Total 82,169 71.969 EXPENDITURE ON RalsSng funds 53,024 39,534 NET INCOME 29,145 32,435 RECONCIUATION OF FUNDS Total funds brought forward 1,67S,223 1,642,788 TOTAL FUNDS CARRIED FORWARD 1,704,368 1,675,223 The notes frjm part of these financlal statements
LAUGHARNE CORPORATION LANDS BALANCE SHEET 30 SEPTEM8ER 2025 2025 Unrestdcted funds 2024 Total funds Notes FIXED ASSETS Investment property 1,550.000 1,550,000 CURRErfr ASSETS Debtor5 Cash at bank 1,709 154,699 2.600 123,823 IS6,408 126,423 CREDITORS Arnounts falling due wlthln one year (2,040} {1,2001 NET CURReN7 ASSETS 154,368 125,223 TOTAL ASSETS LESS CURRENT LIABIUTIES 1,704,368 1,675,223 NET ASSErs 1,704,368 1,675.223 FIJNDS Unrestricted funds., General fund Revaluation Reserve io 1,110,134 594,234 1,080,989 594,234 1,704.368 1,675,223 TOTAL FUNDS 1,704,368 1,675.223 The financial ststements were approved by the Board of Tyustees and authorised for issue on 4..4...fA..,.,,,.,. and were slgned on its behalf by.. mes - TNstee The notes form part of these financlal statements
LAUGHARNE CORPORATION L4NDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 ACCOUNTING POLICIES Basis of preparing the Ilnanclal stat8m•nts The financlal statements of the charity, which Is a publlc beneflt entlty under FRS 102, have been prePad in accordance with the Charltles SORP IFRS 102) 'Accounting and Reportlng by Charities.. Ststement of Recommended Prattl appllcable to charltles preparlng thelr accounts in accor(lance wlth the Flnanclal Reportlng Standard applicable in the UK and Republlc of Ireland {FRS 102) leffertive l January 20191,, Flnanclal Reportlng Standard 102 The Financial Reportlng standard applicable In the UK and Republic of [land, and the Charétleg Art 2011. The flnanclal
atements have been prepared under the hlstorfcal cost conventlon.
Intome All Income Is recognlsed In the Statement of Flnancial Actlvltles once the charlty has entitlement to the funds, it is probable that the Income will be received and the amount can be measured rellably. Exp•nditurn iiabllitles are recognlsed as expendlture as soon as there Is a le9al or constructlve obllgatlon commlttlng the charity to that expenditure, It Is probable that a transfer of economic benefits will be qUIred In settlement and the amount of the obligation can be meaSUd rellably. Expenditure Is accounted for on an accnjals basls and has been classlfled under headlngs that aggregate all ost related to the category. Where costs cannot be dlrectly attrlbuted to partlcular headlngs they have been allocated to actlvltles on a basls consistent with the use of resource5. Investment property Investment property is shown at most recent valuation. Any aggregate surplus or defic arfslng from changes in fair value Is recognlsed In the Statement of Flnanclal Artlvltles. Taxation The charlty Is exempt from tax on Its charttable actlvltles. Fund accounting Unrestrirted hjnds can be used In accordance wlth the charltable objertlves at the dlscretlon of the trustees. Restrlcted funds can only be used for particular restrlrted purposes wlthln the objects of the charity. Restrictions arise when speclfled by the donor or when fijnds are raised for partiwlar restrfcted purposes. Further explanatlon of the nature and purpose of eath fund Is Induded In the notes to the financial statements. OTHER TRAOING AcrIvrrIES 2025 2024 Fundraising events 3,925 1,124
LAUGHARNE CORPORATION LANDS NOTES TO THE FINANCIAL STATEMENTS- Contlnued FOR THE YEAR ENDED 30 SEPTEMBER 2025 INVESTMENT INCOME 2025 2024 Legacy rents recelved Investments Interest Inve5trnent properties rent 21,084 2,504 46,254 13,308 460 48,728 69,842 62,496 RAISING FUNDS Investment management costs 2025 2024 Rent collection Propety repalrs Support costs 3,789 19.453 29,782 2,917 11,571 25,046 53,024 39,534 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remuneratlon or other beneffts for the year ended 30 September 2025 nor for the year ended 30 September 2024. Tru5tee$' expenses Durlng the year £4,475 (2024 - £4,825) wa5 pald In respect of honorarla and expenses to the trustees and recorder. COMPARATIVES FOR THE sfATEMENf OF FINANCIAL ACTIvrrIES Unrestrlrted fijnds INCOME AND ENDOWMENTS FROM Donations and legacles 8,349 other trading actlvlties Investment Income 1,124 62.496 Tot•1 71,969 EXPENDITURE ON Raising funds 39,534 NET INCOMe 32,435 RECONCIUATION OF FUNDS Total hjnds brought forward 1,642,788 TOTAL FUNDS CARRIED FORWARD 1,675.223
LAVGHARNE CORPORATION LANDS NOTES TO THE FENANCXAL STATEMENTS- ¢antlnued FOR THE YEAR ENDED 30 SEPTEMBER 2025 INVESTMENT PROPERTY FAIR VALUE At l October 2024 and 30 September 2025 1,550,000 14Ef BOOK VALUE At 30 Septernber 2025 1,550,000 At 30 September 2024 1,550,000 Fair value at 30 September 2025 Is represented by: Valuation in 2018 Valuatlon In 2019 Valuatlon 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 FALUNG DUE wrrHIN ONE YEAR 2025 2024 Trade debtors 1.709 2,600 CREDThORS: AMOVNTS FALLING DUE WtrHIN ONE YEAR 2025 2024 other creditors 2,040 1,200 10. MOVEMENT IN FUNDS Net movement in funds At 1.10.24 At 30.9.25 Unr•strlcted fund* General fund Revaluation Reserve 1,080,989 594,234 29,145 1,110,134 594,234 1,675,223 29,145 1,704,368 TOTAL FUNDS 1,675,223 29,145 1,704,368
LAUGHARNE CORPORATION LANDS NOTES TO THE FXNANCIAL STATEMENTS- nt1Th8d FOR THE YEAR ENDED 30 SEPTEMBER 2025 10. MOVEMENT IN FUNDS - ¢ontlnued Net movement in funds, Included In the above are as follows,. Incoming resource5 Resources expended Movement In funds Unrestrlrted funds General fijnd 82,169 (53,024) 29, 145 TOTAL FUNDS 82,169 (53,024) 29,145 Comparatlves for movement in fvnd$ Net movement In funds At 1.10.23 At 30.9.24 UDrestrirtéd funds General nd Revaluatlon ReSee 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 Comparatlve net movement in n$. included In the above are as follows: Incomlng resources Resources expended Movement in fvnds Unrestricted funds General fund 71,969 (39.534) 32,435 TOTAL FUNDS 71,969 139,5341 32,435 A ojrrent year 12 months and prlor year 12 rnonths combined positlon Is as follows: Net movement In funds At 1.10.23 At 30.9.25 Unr•stricted fund$ General fund Revaluation Reserve 1,048,554 594,234 61,580 1,110.134 594,234 1.642,788 61,580 1,704,368 TOTAL FUNDS 1,642,788 61,580 1,704,368 -io-
LAUGHARNE CORPORATION LANDS NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 SEPTEMBER 2025 10. MOVEMENT IN FUNDS- ¢ontlnuad A current year 12 month5 and prlor year 12 months comblned net movement In funds, included In the above are as follows.. Incoming resourees Resources expended Movement In funds Untestrl¢tèd funds General fvnd 154,138 (92,558) 61,580 TOTAL FUNDS 154,138 {92,558) 61,580 11. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 30 September 2025. 12. ULTIMATE CONTROLLING PARTY The charity is controlled by the Twstees -li-