LLEWELLYN ALMSHOUSES
FINANCIAL STATEMENTS
FOR THE PERIOD I APRIL 2023 TO 31 MARCH 2024

ew 11 nAI *ho ses Financial tatemen
Yea
1 Ivlarch
ONTENTS
Page
Legal & Administrative Information
Report of the Trustees
Independent Examinerf5 Report
Statement of Comprehensive Income
Statement of Financial Position
Statement of Changes in Reserves
Statement of Cash Flow
Notes to the Accounts
10-20
Notes not forming part of the Financial Statements=_
Detailed income and expenditure account
21

Trustees:
Councillor A Lodwig Ichalrmanl
Councillor W Carpenter
Councillor T. Bowen
Canon David Lewis
Canon Lynda Newman
The trustees delegate the day-to-day management of the property to Tai Tarian Limited.
Charity No:
218821
Address of Charity".
Leonard Street,
Neath.
IAdmini5tered by Tai Tarian Limited)
Independent Examiner:
WBV Limited
Ch3rtered Accountsnts
Ststutory Auditors
Woodfield House
Castle Walk
Neath
SAII 3LN
8ankers".
Lloyds Bank PIC
Neath

le ell n mshouses In ncial Stateme
enoe
Mar h O
The Trustees present their report together wlth the financial statements of the tharity for the period
l April 2023 to 31 March 2024.
STRucfuRE, GOVERNANCE AND MANAGEME
Governsng Document
Llewellyn Almshouses was established under a deed dated 24 December 1897. It was registered with
the Charity Commission on 10 September 1974.
The activities of the Llewellyn Almshouses are controlled by a Board of Trustees. The Board meet on
a regular basls to ensure the smooth running of the orllanisation. Deusions regarding the
management of the Llewellyn Almshouses are made by the Trustees.
OBJECTIVES AND ACTIVITIES
Llewellyn Almshouses is a non-profit making organisation engaged in the provlslon of social housing
at their premises in Leonard Street, Neath.
The primary objettive of the organisation is to provide housing for single women and widows over the
age of 45 years.
ACHIEVEMENTS AND PERFORMANCE
Total income for the period was £59,25912023.. £49,235>. The surplus for the year was £5,83912023:
£1,992) before the revaluation of investments. After the revaluatlon the surplus was £8A9412023:
Deficit £1,569).
The accumulated free reserves at the end of the year amounted to E90.20612023.. £83,289) and
designated reserves amounted to £84,979 12023.. £83,402). In 2024 occupancy leve15 were slightly
higher than 2023. The loss of rentsl incorne a5 a result of voids in the period was £6,690 12023:
£6,994).
PRINCIPAL RISKS AND UN￿ftTAINTIES
The main risk faced by Llewellyn Almshouses relates to the age of the building from which it operates
and the need to maintain the standard of accommodation provided.
The trustees have undertaken a rigorous programme of updating and improvement over recent years
and ensure that regular inspections of the premises are carried out. A programme of routine and
yclical maintenance is maintained.
Such action reduces the risk of significant unforeseen work and expenditure from arising.

PUBUC BENEFIT
The trustees have given due reBard to public benefit and consider that each of the actlvitles that the
charity is engaged in helps promote the aims of the charity in respert of improving the condtrtlons of
life of the tenant5 of Llewellyn Almshouses.
FINA14CIAL REVIEW
It is the policy of the Llewellyn Almshou5e5 to maintain unrestricted funds, which are its free reserves.
The Trustees have designated part of its re5enies and earmarked them for a particular purpose such
as extraordinary repairs and cyclical maintenance. SLsch designated reserves are part of unrestritted
reseNes.
Where funds are received that have specific restrictions attached to their use they are treated as
restrirted reserves and are not free reserves.
Further explanation is given in the accounting policies on pages 10-13.
ACCOUNTING PERIOD
The financial statements have been prepared for the 12-month period ended 31 March 2024. The
comparable figures as of 31 March 2023 a150 refled a 12-month period.
POST BAiANCE SHEET EVENTS
There have been no events since the flnancial year-end that have had a slgniflcant effect on the
financial position.
RESPONSIBILITIES OF THE TRUSTEES
The Trustees are responsible for preparing the report and financial statements in accordance wlth
applicable law and regulations.
The Trustees are required to prepare financial statements for each financial year which give a true and
fair vlew of the position of the re8lStered social13ndlord and of the surplus or deficit of the registered
social landlord for that period. In preparing those financial statements they are required to:
select suitable accounting policies 3nd then apply them conslstently:
makejudgements and estimates that are reasonable and prudent-
state whether applicable accounting standards have been followed. subject to any material
departures disclosed ond explained in the financial statement5: and
prepare the financial Statements on a going concern basis unless It Is Inappropriate to
presume that the registered social landlord will ¢ontlnue in business.

Lle ell Almsh se Fn c I
Ypa
tements
POPT
The Trustees are responsible for keeping proper accounting record5 which di5c105e with rea50n3ble
accuracy at any time the financial wsition of the registered social landlord to enable it to ensure that
the financial statements comply with the Trust Deed. The Housing and Regeneration Act 2008 and The
Accounting Requirements for Registered Social Landlords General Determination IWales12015. They
are also re5pon5ible for safeguarding the assets of the registered social Sandlord and hence for tsklng
reasonable steps for the prevention and detection of fraud and other irregularities.
FOR AND ON BEHALF OF THE TRUSTEES
Counclllor A Lodwlg
CHAIRMAN
Date: ....-.

I report to the charity trustees on my examination of the accounts of Uewellyn Almshouses for the
yearended 31 March 2024 which are set out on page5 6 to 20.
Responslblllties and basis of report
As the chariW5 trustees you are responsible for the preparation of the accounts In accordance with
the requirements of the Charities Act 20111.the Act'l.
I report in respect of my examination of the chariws accounts carried out under sectlon 145 of the
Act and in carrying out my examination I have followed all the applicable Direttions given by the
Charity Commission under sertion 14515)Ibl of the Act.
Independent ex*minerfs ststement
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 respett:
accounting records were not kept in respect of the charity as required by section 130 of the
Act: or
2. the accounts do not accord with those records: or
3. the accounts do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charitie5 IAccounts 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 rnatters 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 r
ached,
Rowe
A ACA IA director ofj
WBV Limtted
ICAEW
Chartered Accountants
Woodfield House
Castle Walk
Neath
SAII 3LN
Date:

I w lyn
ouse Finaici l tste e s
TEMENT O OMPREH
IN OME
2024
2023
Note
Turnover
55,073
4S,239
Operating expenditure
153,4231 147,2431
110041
Operating surplus I Ideficitl
1,650
Interest receivable and other Income
4.186
3,996
Movement in fair values of investments
2,658
13,5611
Surplus I (Deficlt) before taxatlon
8.494
11.5691
Taxation
Surplus I IDÈficlt) for thè year
8.494
{1.$691
The results relate wholly to continuing activities of the entity-
The income and expenditure account was approved by the Trustees on:
Signed on behalf of the Trustees
..Trustee/Chalrman
Cllr A L¢)dwlg
.Trustee
Cllr Tim Bowen

2024
2023
Note
Housing propertSes
Less SHG
232,253
234,527
1221.1531 1221.1531
Plant Equlprnent
ii.ith)
13374
Current assets
Debtors
io
2,776
116.333
71.545
190,654
4,137
113,545
5D.019
167,701
IrNestments
li
Cash and cash eqwvalents
Creditor5'. anbjunts fallin8 due wthin one year
12
121.7711
19.5861
Net current assets
I68￿
158.115
Total a55et5 less ¢urrent liabilitles
175.983
171A89
Net a4ets
179.983
171A89
Cèpiial and reseThes
Exchequer Contributions and EndowN*nt Fund
IncoryE and Expenditure ReseThfe
De518riated ReseTh￿s
Total capital and r@sÈr¥es
4,798
83,289
83,402
14
90.2(16
13
84,979
179,983
171A89
These financial statements were approved and authorised for issue by the Trustees on:
Signed on behalf of the Trustees:.

ellyn m houses i ai cial
Y a ene4
OF H N ESI R SERV
Income &
Expendltur•
Designated Endowrnent
Res&r¥*s
Fund
2024
At begtnnirg of year
83,289
83,402
4.798
17L489 173,058
Surplus / (Deficit) forthe year
8.494
8A94
115691
TBnsfers betsveen Rseryes
11,5771
1,577
At 31 March 2024
).206
84.979
179.983 17L489
Further detail on the reserve movement5 can be seen in the notes to the accounts.

2024
2023
Note
Net cash generated from operatlng actlvities
16
17.470
5,186
Cash Ilow trom Inve5tlng acti¥ltles
Interest received
50
Dividends received
3.946
11241
Purchase of investments
11301
Net Cash Ilow from investlng artivities
4,056
3.872
Net increase in cash and cash equivalent5
21.526
9,058
Cash and cash equivalents at beglnnlrE of year
50.019
40.961
Cash and cash equivalents at 31 March 2024
71,545
50.019
Cash and cash equivalents conslsts of:_
Cash at bank and in hand
71,545
71.545
50,019
50.019
Cash and ¢ash equNalents at 31 M*r¢h 2024

I welyi
Financial Sta ement
OTES
HE
SUMMARY OF SIGNIFICANT PRINCIPAL ACCOUNTIt4G POLICIES
General Informatlon and Basls of Pre
ratlon
Llewellyn Almshouses is a private reg15tered provider of social housing in the United Kingdom. The
address of the registered office is given in the information on page l of these financial statements.
The nature of its activities is explained in the Trustees Report on page 2.
Llewellyn Almshouses ¢onstitutes a public benefit entity as deflned by FRS 102.
The flnanclal statements have been prepared In accordance wlth appllcable accountlng stsndards.
including Financial Reporting Standard 102. The Financial Reporting Standard Applicable in the UK and
Republic of Ireland IFRS 1021, the Statement of Recommended Practice for Social Housing provider5
2018 and with the Accounting Requirements for Registered Soclal Landlords General Determination
(Wales) 2015. The financial statements are also prepared under the requirements of the HousinE and
Regeneration Art 2008. The financial statements have been prepared on a going concern basis under
the historical cost convention. modified to include certain items at fair value. The financial statements
are prepared in sterlin& which is the functional currency of the Llewellyn Almshouses and rounded to
the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all year5 presented unless othenvise Stated.
Llewellyn Almshou5e5 adopted the SORP in the current year.
Social Housin
Grant
SHG
SHG receNed as a grant towards revenue expenditure is matched against that expenditure by being
included in turnover in the income and expenditure account. The related expenditure is included
under operating costs. SHG is retognlsed in the same period as the re￿ated expenditure provided the
conditions for its receipt have been satisfied and there is reasonable 355urance that the grant will be
received.
Where SHG is received as a contribution towards the capital costs of a scheme and the properties are
included at historical cost, the total grant receivable is deducted from the cost of housing properties.
SHG can be recycled under certain condltlons. if a property Is sold, or if another relevant event takes
place. In these cases, the SHG can be used for projects approved by the Housing Corporation. SHG to
be recycled is credited to the Recycled Capitsl Grant Fund/Disposal Proceeds Fund within creditors.
When any SHG to be recycled or repaid is less than the SHG relating to the disposal, the difference is
treated a5 abated SHG. Abated SHG is treated 35 a component of the surplu5 Qr deficit on disposal.
SHG received and not matched by development expenditure or relevant expenditure in the income
and expenditure account is included in current liabilities. The amount of SHG in advance is calculated
by reference to the aggregate of all schemes in the SHG funded development programme.
-io-

PRINCIPAL ACCOUNTING POLICIES
covriNUED
Where major repairs are funded by grants. the grants are accounted for either in the balance sheet or
in the income and expenditure account depending on whether the major repalr Is a capital
arrangement or a revenue repair item respertively.
In certain circumstances, SHG may be repayable, and, in that event, Is a subordinated debt and Is
accounted for as soon as the liability arises within creditors.. amounts falling due within one year.
nment
an
Government grants, or grants from other government Ilke organisations are received in respect of
certain repair projects.
Governmentgrants received as a contribution to revenue expenditure are recognlsed In the statement
of comprehensive income on a systematic basis over the period in which the landlord recognlses the
related costs for which the grant 15 intended to compensate. The related expenditure is included
under administrative expenses. Grants are recognised in the same period as the related expenditure
provided the conditions for receipt have been satisfied and there is reasonable assuran￿ that the
grant will be received.
Works to Existin
H(wsin Pro
rtSes
Expenditure on housing properties which results in an enhancement of economic benefits of the asset
such as an increase in the net rental stream over the life of the property is capitali5ed.
Improvements to property that relate to assets that have a separately identifiable life to the property
concerned. are also capitalised but under a category separate from the property.
Any works which do not result in an enhantement of economic benefits of a property are charged to
the income and expenditure account. This includes expenditure incurred to ensure that the property
can maintain its existing level of net rental income.
-li-

Llewell n
ms
uses Financial Statemen s
Mar
OTS
TATE
PRINCIPAL ACCOUNTING POLICIES
CONTINUED
Tan
ible Fixed A55ets
Im rovements
The property improvements are stated at cost less grants received.
Tangible fixed assets lincluding social housing properties) are stated at CQ5t le55 accumulated
depreciation and accumulated impairment losses. Cost Includes costs directly attributable to making
the asset capable of operating as intended such as the cost of acquiring land and buildings,
developments Costs, interest charges on loan5 during the development period and expenditure on
Improvements. Expenditure on improvements will only be capitalised when it results in incremental
future benefits such as increasing rental income, reducing maintenance costs or resulting in a
significant extension of the useful economic life of the property.
PRINCIPAL ACCOUNTING POLICIES
CONTINUED)
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less
estimated residual value, of each asset on a systematic basis over its experted useful life as follows:
Land, property improvements Inet of grants)
Fixtures and fittings
4% on cost
IO% on cost
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding
transaction costs. Subsequentlyi they are measured at fair value through the statement of
comprehensive income if the shares are publicty traded or their fair value can otherwise be measured
reliably. Other investments are measured at cost less impairment.
Desi
nated Reserves
Designated reserves are part of unrestricted reseryes which have been earmarked by the Board for a
particular purpose. Suth designations may be reversed by future Board decisions. Expenditure cannot
be directly set against designated reserves but is taken through the income and expenditure account.
A transfer is then made from designated reserves as appropriate.
Future Re airs and Maintenan¢e
A reserve has been established to fund future cyclical repairs and maintenante being the Alm5hou5es'
Ilability to maintain its properties. The amount of the tontribution to this reserve is agreed by the
Trustees on an annual basis.
12-

PRINCIPAL ACCOUNTING POLICIES
CONTINUED
Extraordina
irs Reserve
In prior years a reserve was established to fund major repairs on the properties. The amount of the
contributions to the major repairs reserve is agreed by the Tru5tee5 on an annual basis.
Turnover
Turnover represents rental income receivable, net of void5.
Turnover 15 measured at the fair value of the consideration re￿iVed or receivable. The PDlicies
adopted for the recognition of turnover are as follows..
Turnover represents rental and service charges income receivable in the year net of rent and service
charge loses from void5 and revenue grants from the government (local authorities).
Pro
mana
edb
ents
Where Llewellyn Almshouses carries the financial risk on property managed by agents. all the income
and expenditure arising from the property is included in the statement of comprehensive income.
Where the agency carries the financial risk, the statement of comprehensive income includes onlythat
income and expenditure which relates solely to Llewellyn Almshouses.
RestTlcted Reserves
Restritted reserves are those reserves which are only expendable in accordance with the wishes of
the funder or regulatory body. Restrirted reserves include funds raised in response to a specific
appeal. Expenditure cannot be directly set against restricted reserves but IS taken through the income
and expenditure account. A transfer from restricted reserves is then made as appropriate.
Where a restricted resetve 15 represented by assets that are then re-valued, the revaluation element
Is added to the restricted reserve.
Endowment Fund
This was established on creatlon of the organisation. Income arising from the endowment funds is
treated as part of the organisations general funds and passes through the income and expenditure
account. with no adjustment made to the endowment fund.
13-

Llewellyn A ms ouses Ina cal
Yea
?0
OTS O
STATEMENTS
2. TURNOVER, OPERATING COSTS AND OPERATING SURPLUS
INCOME AND EXPENOThURE FROM SOCIAL HOUSING LErriNGS
2024
2023
Income
Rents receivable
55,073
45,239
55P73
45,239
Turnover from soclal housing lettings
55P73
45,239
Expendlture
Management C05t5
15,613
14,660
Other costs
15366
14,225
Maintenance costs
19,953
16,061
L055es from bad debts
217
23
Depreciation and amrtisation
2,274
2,274
Operatlng ¢ost$ on $oclal housln8 lettin8S
53,423
47.243
Operatlng Surplus l {Deflcltl on soclal houslng lettlngs
1,650
Rent loss due to voids (Mew￿randUrn note)
16,65X)1 16,994)
14-

3. INTEREST RECEIVABLE AND OTHER INCOME
2024
2023
Dividend5 ￿CeIvable from Investments
4,046
3,946
Bank and short term deposit interest receivable
140
50
4.186
3,996
4. OPERAMNG SURPLU51 IDEFiaT)
2024
2023
Operatlng surplus / (deficit) for the year is slated after charging:
Depreciation and amortisation of fixed as5etS
Independent examiners remuneration (inclusive of VATI
Independent examination fee
2,274
2,274
1,2CK)
13301
5. TRUSTEES EMOLUMENTS
The a550ciation is controlled by a voluntarycommittee of management who received no remuneration
durinB this period.12024: NIL)
6. EMPLOYEES
2024
2023
Number
Number
Care/Domestic Stsff
Staff Costs:_
Wage5 and Salaries
7. TAXATION
No provision has been made in the accounts for UK Corporation Tax as the a5SOCiation is exempt
from taxation under S505 of the Income and Corporation Taxes Act 1988.
15-

ouses
Stateme s
ar
FlblA C14L STA
& TANGIBIE FIXED ASSETS
Pioperty
Improvements Equlpment
Total
Cost
At beginning of year
284,807
11.324
296,131
At 31 March 2024
284,807
11,324
296,131
Depreciation
At beginning of year
Charged durlng the year
At 31 March 2024
150,2801
12,2741
152.5541
111,3241 161.604)
12.2741
111.324) 163,8781
Net book value
At 31 March 2024
232.253
232,253
234,527
At 31 March 2023
234,527
9. soaAL HOUSlhlG GRANT
2024
2023
Balance brought forward
Received in the year
Balance carried forward
221.153
221,153
Z21,153
221J53
10. DEBTORS
2024
2013
Amounis due wlthin one year
Arrears of rent and service charges
Less.. prow'sion for bad and thubtFul debts
1,818
14301
1.388
1.012
12121
800
Sundry Debtor5
Prepayments
1,844
$43
1.493
2.776
4,137
16-

11. INVESTMENTS
2024
2023
At be8inninR of year
Reinvestment of accumulation dividends
113,545
130
116.982
124
Revaulation in year
At 31 March 2024
2,658
13,5611
114545
116,333
The historical cost of investments above is as fdlows-_
At l April 2023 and 31 Marth 2024
76￿67
76.436
The investments are managed by Blackrock Investment Management ar￿ are held in Blackrock Charities
UK EoLsity Fund and Blackrock Chaiities UK Bond Fund.
Inocme received from the Investmenst in the period was as follows:
2024
2023
Dividends and Interest
3,946
Itwestments a￿ included at fair value wlth the surplusldeficit reflected through the Ststement of
Comprehen5Fve Incomè.
12. CREDITORS
2024
2023
Amountsdue wlthin oneyear
Trade Creditots
1.070
20,701
21.771
463
Accruals
9,123
9,586
17-

msh uses
ar
I rj I Sta emen
O ESTOTH I ANC
13. DESIGNATED RESERVES
Extraovdlnary
Repalr
Fund
clkal
Malntenance
Fund
2024
2023
2024
Balance brought l(¥ward
40.241
43,161
88,767
9,400
98,167
Trdnsfer from revenue reserve
5,150
45,391
8,000
51,161
,150
96,55Z
Transfer to revenue reseNe re expenditure
n the year
12.8501
18.7231
{11.5731
114.7651
ealance carried forward
42.541
42.438
84.979
83A02
TRANSFER TO REVENUE RESERVE
Extraordlnary
Repair
Fund
Cycllcal
Maintenance
Fund
2024
Repair expenditure incurred on project
General repairs
2,850
8.723
11573
2.850
8,723
11,573
Transfer from designated funds
2.850
8.723
I1￿73
18-

14. INCOME AND EXPENorruRE RESERVE
Incom• &
Expendlture
Investment
Revaluatlon
2024
2023
Note
At beginning of year
Surplus I (Deficit) for year
Revaluation of investments
46,182
37,106
83.289
5,837
2.658
11.5771
90,206
79,493
1,992
13,5611
5,365
5,837
2,658
Transfers to designated reseNes
At 31 March 2024
15
11,5771
50042
39,764
3,289
15. NET TRANSFER TO DESIGNATED RESERVES
2024
2023
Transfer from designated reserves re expendituie ift the year
Transfer to desiBnated reswes
Transfer from deslgnated reserves
11,573
14,765
19,4CQI
{13.150)
(1.577)
5,365
-19-

Llewell n Almshou es Fina cial Statements
ea
Marcb 20
STATEMENTS
16. RECONatlA7ION OF OPERATING SURPLUS I IDEFiaTI TO CASH FLOW FROM OPERATING Acnvm£s
2024
zozy
sU￿lUs / (Deficit) for period before rewdIuati￿ of investmènts
5,837
1.992
Interest received
11401
14,0461
2.274
Dividend5 received
13,9461
2,274
Dep￿ciatIon of trnglble fixed assets
Surplus on disposal of investrnents
Ilncreaselldecrease in debtors
Increaselldecreasel in creditor5
1,361
12,184
11541
5,070
Net cash flow from operating aitivities
17.470
5.186
17. UNITS IN MANAGEMENT
The total number of general needs units managed by the Almshouses as o* 31 March 2024 was 10.
All the units are managed on behalf of Llewellyn Almshouse5 by Tai Tarian Limited.
18. RELATED PARfiTRANSACTIONS
The collection of rent from tenants of Llewellyn Almshouses is overseen by officers of Tai Tarian
Limited. Further, the day-to-day administration of the organisation is similarly managed and a charge
of £15.613 was levied in the year by Tai Tarian Limited for these services.
19. CONTROL RELATIONSHIP5
The organisation is controlled by its trustees.
-20-

PROPERTY REVENUE ACCOUNT
2024
2023
Income
Rents rec¢lvable
55,073
45.239
Grant recelved
55.073
45.239
Expendlture
Repairs and M3inteiiance
Heatirg and Lightin8
InsurarKe
19,953
9,047
1,112
1.413
2,219
15,613
49J57
16,061
9,718
1.025
1,714
1,770
14.660
Council Tax
Water Rate5
Mana8ement Charges
Surplus for year transferred to Incorne and Eypendfture Account
5,716
291
GENEAAL INCOME AND EXpEND￿uRE ACCOUNT
2024
2023
(Mher thcome
Oeposit Account
Other Investment inctsme
140
50
3.946
Surplus on sale of Investments
4,186
3J96
C¢ynmunity Alarm Sevvlee
Professional Fees
140
140
Bank Charges
Subcriptions
Accountancy Fee
Losses from Bad Debts
232
189
1,2(K>
217
13301
23
Dep￿cla￿On
Other
2.274
2.274
1296
us forthe year
1,700
SuWkTrs trdnsferred from PrO￿rtY Revenue AccouTrts
5.716
291
Surplu5 for the year betsre investment revaluatlon
5*39
1,992
This pa8e does not form part of the flnancial statements
21-