``` REGISTERED COMPANY NUMBER: 00496469 (England and Wales) REGISTERED CHARITY NUMBER: 219648 ``` ``` Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024 ``` ``` for ``` ``` Royal Cambrian Academy Of Art (A Company Limited by Guarantee) ``` ``` J V Banks Chartered Accountants Banks House Paradise Street Rhyl Denbighshire LL18 3LW ``` ``` Royal Cambrian Academy Of Art ``` ``` Contents of the Financial Statements for the Year Ended 31 December 2024 ``` ||`Page`| |---|---| |`Report of the Trustees`|`1 to 9`| |`Independent Examiner's Report`|`10`| |`Statement of Financial Activities`|`11`| |`Balance Sheet`|`12 to 13`| |`Notes to the Financial Statements`|`14 to 19`| |`Detailed Statement of Financial Activities`|`20 to 21`| ``` Royal Cambrian Academy Of Art ``` ``` for the Year Ended 31 December 2024 ``` ## `Report of the Trustees` ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their reportwiththefinancialstatementsofthecharityfortheyearended31December2024.Thetrustees have adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ``` Thanksareextendedto allRoyalCambrianAcademyCouncilmembersfortheirtimeandcontributionto the continuingsuccessoftheacademy.Councilhascontinuedreviewingourgovernanceprocedures, finances, andourbudgetingstrategy.Theofficestaffandeducationco-ordinatorarerecognisedformaintaining our roleasarespectedacademyandexhibitingvenueandformeetingtheday-to-daychallenges,often routine and mundane, with such enthusiasm and energy. ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and activities`** ``` The aims and objectives of the charity are: ``` ``` - to promote the arts of painting, printmaking, sculpture, architecture and other forms of arts in Wales ``` ``` -topromoteinformationonsubjectsrelatingtoartbylectures,discussions,correspondencewith public bodies and individuals or otherwise and by the provision of reference and other libraries ``` ``` -toprovideroomsandotherfacilitiesfortheholdingandconductingofexhibitions,classes,meetings and other such like matters ``` ``` - to encourage the study of arts and for that purpose award prizes and other rewards or distinctions. ``` ``` There has been no change to these during the year. ``` ``` ThemembersoftheCouncilhavepaiddueregardtoguidanceissuedbytheCharityCommissionon public benefit when reviewing the charity's aims and objectives and planning future activities. ``` ``` The following new members were accepted during 2024 Artists nominated under article 14 2023 ``` ``` Keith Bayliss Seren Bell Sarah Hopkins Sigrid Müller Mai Thomas ``` ``` Associate (ARCA) Members: Bruce Atkins Julie Davis Ronnie Drillsma James Guy Eccleston Nigel Glaze David Kereszteny Lewis Myles Laurence Mansfield Richard Monks Mike Murray Jane Ella Paice Judith Stroud Dorothy Williams ``` ``` Notification of deaths in 2024: Howard Coles (1935-2024) Claudia Williams (1933-2024) ``` ``` Page 1 ``` ``` Royal Cambrian Academy Of Art ``` ``` for the Year Ended 31 December 2024 ``` ## `Report of the Trustees` ## **`OBJECTIVES AND ACTIVITIES Events 2024`** ``` Our exhibition programme consisted of the following exhibitions: ``` ``` OPEN EXHIBITION 2024 6 January to 24 February 2024 ``` ``` IMAGING WALES: THEN AND NOW / LLUNIO CYMRU: DDOE A HEDDIW - DR CERI THOMAS RCA 2 March to 30 March 2024 ``` ``` MINI PRINT WALES 2024 2 March to 30 March 2024 ``` ``` RCA AT CHESTER CATHEDRAL 22 April to 15 May 2024 ``` ``` BEYOND THE LANDSCAPE - GRAHAM COX RCA 6 April to 25 May 2024 ``` ``` MONUMENTAL FORM - TWO APPROACHES BEN JOHNSON RCA / BARRY DAVIES RCA 6 April to 25 May 2024 ``` ``` MIND MINING - GILLY THOMAS RCA 1 June to 6 July 2024 ``` ``` NEW MEMBERS EXHIBITION 2024 1 June to 6 July 2024 141st ANNUAL SUMMER EXHIBITION 13 July to 7 September 2024 ``` ``` MEMORIALS - GLEN MORRIS RCA 14 September to 19 October 2024 ``` ``` DIVERSITY - THREE WAYS OF THINKING AND SEEING BEV BELL HUGHES RCA / CEFYN BURGESS RCA / PAUL CROFT RCA 14 September to 19 October 2024 ``` ``` DARK TO LIGHT - CURATED BY HEATHER EASTES RCA & ALAN SALISBURY RCA 26 October to 16 November 2024 ``` ``` ANNUAL WINTER EXHIBITION 2024 23 November to 23 December 2024 ``` ## **`Education`** ``` The RoyalCambrianAcademy'sdeliveryof itsvaried,livelyandhigh-qualityprogrammeof education classes continuedtothrivein2024underthetwolearningco-ordinatorstothegallery.Theworkshop programme wasvariedandfeedbackexcellent.Lifedrawingclasseswereheldin thespring,summer,autumnand winter of2024andasalwayshavebeenwellreceived.AnopenConwysketchdaycommunityeventwas organised in August 2024. ``` ``` In2024,thegallerycontinuedtoworkcloselywithConwyConnect,ranlifedrawingcourses,andarange of workshopsonclayfigurebuilding,drawing,linocut,macramé,oilpainting,watercolourpainting,still life painting, portrait and self-portrait painting, and printmaking, and sculptural felting. ``` ``` TheRoyalCambrianAcademy'spartnersincludedConwyClassicalMusicFestival,ConwyConnect,Gwynt y Môr Community Fund and the Ulrike Michal for the Arts Foundation. ``` ``` Attheopeningofthe'ImagingWales:ThenandNow'exhibitioninMarch2024,CeriThomasdelivered a public,illustratedlectureon theimagingof WaleswithinthecontextDavidBellin themidtwentieth century and current Royal Cambrian Academy members. ``` ``` DuringtheSummerexhibitionof2024,andinconjunctionwiththe2024ConwyClassicalMusic Festival, Trystan Lewis delivered a public lecture in the gallery on Conwy's musical history. ``` ``` Page 2 ``` ``` Royal Cambrian Academy Of Art ``` ``` for the Year Ended 31 December 2024 ``` ## `Report of the Trustees` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Staffing`** ``` During the year up to December 2024 staff at the Royal Cambrian Academy were: ``` ``` Helen Thornton - gallery manager ``` ``` Tim Dickinson - digital technician and social media Jo-anna Duncalf - learning co-ordinator (job share) Francesca Colussi - learning co-ordinator (job share) (until 8 November 2024) Anya Bailey - gallery assistant (until 1 November 2024) Ian Jones - gallery assistant (until 1 March 2024) ``` ``` Wearegreatlyindebtedtoourvolunteerswhogivefreelytheirtimeandenergyinavarietyofwaysfor the gallery. Without their contribution the work of the Royal Cambrian Academy would be much diminished. ``` ## **`STRATEGIC REPORT`** ## **`Achievement and performance`** ## **`Charitable activities`** ``` The RoyalCambrianAcademycontinuesto play an activepart in the localcommunityand in the visualarts in Walesandbeyond.Theprogrammeofexhibitionsaimstoengagepeopleofalllevelsandagesinthearts. A largenumberofparticipantsinoureducationworkshops/sessionsareWelshspeaking.Weaim, where possible, for our workshop facilitators to be bilingual. ``` ``` Engagement with the local schools consisted of regular visits to the gallery to draw and make notes. ``` ## **`Financial review`** ## **`Financial position and reserves policy`** ``` Thecharitymaintainsareservespolicyandaimstomaintainunrestrictedfundsofcashequivalentto the currenttwomonthsrunningcosts.Duetothecurrentcostof livingcrisis,it hasbeenpossibleforthe gallery to maintain its reserves to the equivalent of four months running costs. ``` ``` Thetrusteesareawarethatgrantfundingisbecomingincreasinglydifficulttoobtain,coupledwithno core fundingfromtheArtCouncilofWales.Intheseadversetimes,thegalleryislookingatincomestreams that followa businessmodelratherthanrelyingongrantfunding.The trusteesdohaveconcernswiththerise in the costof livingandalsothe lackof salesfromoffthe wall.This is somethingthatthe trusteeswill continue to monitor and adapt where appropriate. ``` ``` Page 3 ``` ``` Royal Cambrian Academy Of Art ``` ``` for the Year Ended 31 December 2024 ``` ## `Report of the Trustees` ## **`STRATEGIC REPORT Financial review`** ## **`Going concern and future plans`** ``` Update since end of reporting period ``` ``` CharityCommissionSORP102,Section13,requirescounciltodiscloseanysignificanteventsortrends after the end of the 2024 reportingyear - especiallythosethatimpactnegativelyon the RoyalCambrian Academy's future prospects - and to report on action being taken to secure future financial stability. ``` ``` Towardstheendof2024thecharitybegandevelopinganewdevelopmentplantomitigateshrinking grant income,identifynewrevenueopportunitiesandputtheRoyalCambrianAcademyonapathwayto greater financial stability. ``` ``` Unfortunatelythecharityexperiencedmountingdifficultiesas2025unfolded.Inparticular,the summer exhibitionresultedindisappointinglylowsalesandthereforelittleadditionalincome.Ongoingstaff and othercostsmeanttheRoyalCambrianAcademy'sfinancialreservecontinuedtodwindle.To avoid insolvency, the Council decided to make all staff redundant and to close the gallery on 24 August 2025. However,theRoyalCambrianAcademyasaninstitutionanditsgalleryweresavedfrompermanent closure and a newlyconstitutedCouncilwas electedat an extraordinarygeneralmeetingheld on 23 September 2025. The new Councilhas formallymet twicesinceits electionand its stronglymotivatedmembershave been busy intheleaduptotheAGMinAberystwython13December2025.Itisnowworkingtoresurrectthe Royal CambrianAcademyas a stronger,more effectiveorganisationas it moves towardsthe 150thanniversaryof its founding in 2031. ``` ``` A generous£10,000grantfromConwyTownCouncilhasstavedoffa shorttermfinancialcrisis.With other donations,theRoyalCambrianAcademy'sbankbalanceis£18,000incredit(inlateNovember2025) after the necessary ongoing, reduced running costs are taken into account. ``` ``` Actions already in progress or planned in the short term include: ``` ``` -Securingtheservicesoftwoofourformerstaffmembersonatemporarypart-timebasistorestore and improveadministrationandcommunicationsfunctionsduringtheRoyalCambrianAcademy's transitional recovery phase. ``` ``` - Identification of opportunities to keep trimming gallery running costs. ``` ``` -Anonline2025ArtAuctionfrom3to18December2025,comprisingmanygenerouslycontributed pieces by former and current members and other donors, facilitated by the art auctioneers Rogers Jones. ``` ``` -TheeffectiveeffortsoftheRoyalCambrianAcademy'svolunteerstomakethatauctionand other forthcomingeventsasuccess.Aphasedre-openingofthegalleryduring2026withanewexhibition and ``` ``` events programme is envisaged. ``` ``` - Restarting work to prepare and consult on a medium term Royal Cambrian Academy development plan. ThiswillincludeafocusonthegalleryandimprovingtheRoyalCambrianAcademy'sincome,for example through:- ``` ``` Identification of new grant opportunities and capacity building to make compelling applications ``` ``` - New ways to configure and use the gallery building that can generate more income, e.g. from room hire ``` ``` - Identifying potential for sponsorships and new partnerships with other organisations for mutual benefit ``` ``` - Expansion and strategic development of the Royal Cambrian Academy's volunteer provision ``` ``` -Reappraisalofhowthegalleryshopoperates,membershipsubscriptionsandthefeasibilityof selective exhibition charges ``` ``` - Review and strategic development of its online (website and social media) provision ``` ``` Withtheseactionsunderway,theCounciloftrusteesisconfidentthattheRoyalCambrianAcademycan be reinvigorated, deliver better on its mission and move towards a more secure financial footing. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT Structure, governance and management`** ``` TheRoyalCambrianAcademyofArtisacharitableorganisationwithlimitedcompanystatus.Its principal activitiesaretheprovisionofartexhibitions,functionsandlecturesconnectedwithartandallied subjects. The companyis limitedby guarantee,not havinga sharecapital,is a registeredcharityand is governedby the Memorandum and Articles of the company. ``` ``` Page 4 ``` ``` Royal Cambrian Academy Of Art ``` ``` for the Year Ended 31 December 2024 ``` ## `Report of the Trustees` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Recruitment and appointment of trustees`** ``` Noneofthemembersofthecouncilhasanybeneficialinterestinthecompany.Allthemembersof the council are members of the company and guarantee to contribute £1 in the event of winding up. ``` ``` Trusteescomefromvariousbackgroundswithavarietyofskillsandnewlyappointedtrusteesundergo an inductionto the objectives,scopeandpoliciesof the charityanda skillsanalysisto assesstheirstrengths and weaknesstoestablishifanyfurthertrainingisrequired.Allnewtrusteesareprovidedwith Charity Commission guidelines in relation to their responsibilities in respect of the operation of the organisation. Trustees do not receive any benefits. ``` ## **`Organisational structure`** ``` Thebusinessofthecharityismanagedbythetrusteeswhogivedirectiontothegallery manager. Appointmentsaremadeat annualgeneralmeetingsin accordancewiththe MemorandumandArticlesof the charity.Trusteesareresponsiblefordevelopingthecharity'spolicystructureandensuringthatthecharity is managedeffectively.Theaimistosecurethewelfareofthecharitythusenablingtheworktocontinue in future. ``` ``` Theboardmetninetimesduring2024.Additionalmeetingsmaybeconvenedshouldtheneedarise. The trusteesmayappointoneormoresub-committeesinaccordancewiththeMemorandumandArticlesof the company. ``` ## **`Areas of risk to the organisation`** ``` Thetrusteesanticipatethatthemajorriskisthelackofsalesandavailablecoregrantfunding.With the addedpost-Covidchallengesbeingfeltbymanyculturalorganisations,thisisaveryworryingtimefor the RoyalCambrianAcademy.Tomitigaterisk,thecharityensuresthatfundsarespentinaccordancewith the guidancegivenand,whenapplicable,reportsaresubmittedtoexternalfunders,detailing developments during the specified period. ``` ``` Toeliminatethisrisk,severalapplicationsforfundingweremadeduring2023/24toseekstabilityfor the organisation.However,thetrusteesaremindfulthatthecurrentfundingpotsbeingmadeavailable are gettingconsiderablysmalleryear on year,with increasingnumbersof organisationschasingthe funding from thesepots.InordertostabiliseandprotecttheAcademy,intheautumnof2024,thetrusteesappliedto the Arts Council of Wales for a major Jobs Protection and Resilience grant of £70k but without success. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Registered Company number`** ``` 00496469 (England and Wales) ``` ## **`Registered Charity number`** ``` 219648 ``` ## **`Registered office`** ``` The Royal Cambrian Academy Crown Lane Conwy LL32 8AN ``` ## **`Trustees`** ``` J Yates (appointed 21.8.25) (resigned 5.10.24) Ms A Lewis (resigned 2.3.25) Dr C Thomas (appointed 21.8.25) (resigned 2.3.25) Ms J Ostle (resigned 5.10.24) Ms E Stanley (resigned 21.8.25) Ms S Nugent (resigned 2.3.25) Ms J R Bugler (resigned 21.8.25) Ms L Barker (resigned 12.12.24) S H Evans (appointed 25.6.24) (resigned 21.8.25) Dr L G Morgan (resigned 14.1.25) O Nowakowski (appointed 25.6.24) (resigned 12.12.24) B Atkins (appointed 2.3.25) Ms H Eastes (appointed 5.10.24) (resigned 21.8.25) ``` ``` Page 5 ``` ``` Royal Cambrian Academy Of Art ``` ``` for the Year Ended 31 December 2024 ``` ## `Report of the Trustees` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Independent Examiner`** ``` J V Banks Chartered Accountants Banks House Paradise Street Rhyl Denbighshire LL18 3LW ``` ## **`FUNDS HELD AS CUSTODIAN FOR OTHERS`** ``` There are no funds held as a custodian trustee on behalf of others to be reported. ``` ``` Page 6 ``` ``` Royal Cambrian Academy Of Art ``` ## `Report of the Trustees` ``` for the Year Ended 31 December 2024 ``` ## **`ACADEMICIANS 2024`** ``` Alan Palmer Alan Salisbury Alec Shepley Andrew Smith Ann Bridges Ann Lewis Ann Mumford Ann Catrin Evans Audrey Hind Austin Cole Barry Davies Barry Morris Ben Johnson Beverley Bell-Hughes Bob Shires Bronwyn Williams Ellis Catrin Williams Cefyn Burgess Ceri Thomas Charlotte Baxter Chloe Holt Christine Kowal Post Colin See-Paynton Daisy Wyn Griffith Daniel Yeomans David Barron David Bower David Brightmore David Jones David Lloyd Griffith David Mortimer Jones David Williams Ellis David Woodford Deanne Doddington Mizen Diana Heeks Diane Lawrenson Eleri Mills (underpaid) Elaine Preece Stanley Elfyn Jones Eluned Tudor Grant Emrys Parry Flora McLachlan Gareth Griffith Gareth Nash Gareth Hugh Davies George Drought Gerald Dewsbury Gerda Roper Gerry Ball Gilly Thomas Glenn Morris Graham Cox Graham Hembrough Harry Holland Harry Robertson Heather Eastes Howard Coles Ian Roberts Ian Williams ``` ``` Page 7 ``` ``` Royal Cambrian Academy Of Art ``` ## `Report of the Trustees` ## `for the Year Ended 31 December 2024` ``` Ivor Davies Iwan Gwyn Parry Jan Gardner Jeremy Yates Jess Bugler John Baum John Hedley John Smout Joy Ravenscroft/Ostle Julia Jones Karina Rosanne Barrett Keith Andrew Keith Bayliss Keith Breeden Kim Atkinson Lesley Barker Louise Morgan Louise Schrempft Lynne Cartlidge Maggie Humphry Mai Thomas Malcolm Brookes Malcolm Edwards Malcolm Ryan Mary Griffiths Matthew Wood Meri Wells Mick Brown Mike Knowles Mo Vyse Noelle Griffiths Ondre Nowakowski Patricia McParlin Paul Croft Paul Joyner Pea Restall Peter Edwards Peter Holloway Peter Welford Phillipa Jacobs Richard Gant Rob Piercy Robert Newell Ruth Thomas Sally Matthews Sally Moore Sarah Lees Seren Bell Shani Rhys James Sigrid Müller Siwan Gillick Sonja Benskin-Mesher Stephen Page Stephen West Susan Gathercole Susan Liggett Vivienne Williams Wendy Mayer Wil Rowlands ``` ``` Page 8 ``` ``` Royal Cambrian Academy Of Art ``` ## `Report of the Trustees` ## `for the Year Ended 31 December 2024` ## `[Note regarding senior members:` ``` No recordof Ivor Davies(b. 1935),KeithGardner(b. 1933 and d. February2025), Mary LloydJones(b. 1934) and Iola Spafford (b. 1930) as having paid their 2024 subscription fees.] ``` ``` [Note regarding members who have underpaid: Harry Holland, Eleri Mills and Rob Piercy.] ``` ``` LIST OF ASSOCIATE (ARCA) ACADEMICIANS 2024: ``` ``` Andy Dobbie Bruce Atkins Carys Ella Wilson David Kereszteny Lewis Debbie Baxter Dilys Jackson Dorothy Williams Glen Farrelly James Guy Eccleston Jane Ella Paice Jenny Ford Judith Stroud Julie Davis Lisa Carter Grist Meinir Mathias Michelle Woodward Mike Murray Myles Laurence Mansfield Nesta Eluned Nichola Hope Nigel Glaze Nigel Morris Richard Monks Peter Moore Ronnie Drillsma Sarah Hopkins Simon Goss Susan Cantrill Williams Valerie James ``` ``` Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees,as the company directors, on 13 December 2025 and signed on the board's behalf by: ``` ``` Dr C Thomas - Trustee ``` ``` Page 9 ``` ``` Independent Examiner's Report to the Trustees of ``` ## `Royal Cambrian Academy Of Art` ## **`Independent examiner's report to the trustees of Royal Cambrian Academy Of Art ('the Company')`** ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended 31 December 2024. ``` ## **`Responsibilities and basis of report`** ``` Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act 2006 ('the 2006 Act'). ``` ``` Havingsatisfiedmyselfthattheaccountsof theCompanyarenotrequiredtobe auditedunderPart16 of the 2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your charity'saccountsascarriedoutunderSection145oftheCharitiesAct2011('the2011Act').Incarrying out myexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionunderSection145(5)(b) of the 2011 Act. ``` ## **`Independent examiner's statement`** ``` Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnection with the examination giving me cause to believe: ``` `1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or` `2. the accounts do not accord with those records; or` `3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or` `4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be reached. ``` ``` C E Davies ``` ``` J V Banks Chartered Accountants Banks House Paradise Street Rhyl Denbighshire LL18 3LW ``` ``` 13 December 2025 ``` ``` Page 10 ``` ``` Royal Cambrian Academy Of Art ``` ## `Statement of Financial Activities` ## `for the Year Ended 31 December 2024` |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
**`Charitable activities`**
`Charitable activities`
`Other trading activities`
`2`
`Investment income`
`3`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`Charitable activities`
**`Total`**
**`NET INCOME/(EXPENDITURE)`**
**`Transfers between funds`**
`11`
**`Net movement in funds`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`4,001`
`34,803`
`49,714`
`197`
`88,715`
`9,553`
`117,038`
`126,591`
`(37,876)`
`1,085`
`(36,791)`
`40,357`
`3,566`|`Restricted`
`funds`
`£`
`64,762`
`-`
`-`
`-`
`64,762`
`-`
`60,112`
`60,112`
`4,650`
`(1,085)`
`3,565`
`1,085`
`4,650`|`31.12.24`
`Total`
`funds`
`£`
`68,763`
`34,803`
`49,714`
`197`
`153,477`
`9,553`
`177,150`
`186,703`
`(33,226)`
`-`
`(33,226)`
`41,442`
`8,216`|`31.12.23`
`Total`
`funds`
`£`
`21,040`
`23,226`
`53,702`
`976`
`98,944`
`8,560`
`127,902`
`136,462`
`(37,518)`
`-`
`(37,518)`
`78,960`
`41,442`| |---|---|---|---|---| ``` The notes form part of these financial statements ``` ``` Page 11 ``` ``` Royal Cambrian Academy Of Art ``` ## `Balance Sheet` ## `31 December 2024` |`Unrestricted`
`funds`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`7`
`3,472`
**`CURRENT ASSETS`**
`Stocks`
`8`
`100`
`Debtors`
`9`
`-`
`Cash at bank and in hand`
`6,949`
`7,049`
**`CREDITORS`**
`Amounts falling due within one year`
`10`
`(6,955)`
**`NET CURRENT ASSETS`**
`94`
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
`3,566`
**`NET ASSETS`**
`3,566`
**`FUNDS`**
`11`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Restricted`
`funds`
`£`
`-`
`-`
`-`
`4,650`
`4,650`
`-`
`4,650`
`4,650`
`4,650`|`31.12.24`
`Total`
`funds`
`£`
`3,472`
`100`
`-`
`11,599`
`11,699`
`(6,955)`
`4,744`
`8,216`
`8,216`
`3,566`
`4,650`
`8,216`|`31.12.23`
`Total`
`funds`
`£`
`4,084`
`500`
`4,823`
`36,465`
`41,788`
`(4,430)`
`37,358`
`41,442`
`41,442`
`40,357`
`1,085`
`41,442`| |---|---|---|---| ``` The charitablecompanyis entitledto exemptionfrom auditunderSection477 of the CompaniesAct 2006 for the year ended 31 December 2024. ``` ``` The membershave notrequiredthe companyto obtainan auditof its financialstatementsforthe year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. ``` ``` The trustees acknowledge their responsibilities for ``` - `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and` - `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.` ``` The notes form part of these financial statements ``` ``` continued... ``` ``` Page 12 ``` ``` Royal Cambrian Academy Of Art ``` ## `Balance Sheet - continued 31 December 2024` ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 13 December 2025 and were signed on its behalf by: ``` ``` C Thomas - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 13 ``` ``` Royal Cambrian Academy Of Art ``` ``` Notes to the Financial Statements for the Year Ended 31 December 2024 ``` ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102, havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS 102)(effective1 January2019)',FinancialReportingStandard102'TheFinancialReporting Standard applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements have been prepared under the historical cost convention. ``` ## **`Income`** ``` All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost relatedto the category.Where costscannotbe directlyattributedto particularheadingsthey have been allocated to activities on a basis consistent with the use of resources. ``` ## **`Tangible fixed assets`** ``` Depreciationis providedat the followingannualratesin orderto write off each assetover its estimated useful life. ``` ``` Fixtures and fittings- 15% on reducing balance Computer equipment- 15% on reducing balance ``` ## **`Stocks`** ``` Stocksare valuedat the lowerof costandnetrealisablevalue,aftermakingdue allowancefor obsolete and slow moving items. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted purposes. ``` ``` TherestrictedfundisforworkshopsfundedbyGwyntyMorandTheUlrikeFoundationforand on behalf of DAC /Conwy Connect, providing a safe space for adults with learning disability. ``` ``` During the year Conwy Borough Council provided restricted funds for lift and central heating repairs. ``` ## **`Hire purchase and leasing commitments`** ``` RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesona straight line basis over the period of the lease. ``` ## **`Pension costs and other post-retirement benefits`** ``` The charitablecompanyoperatesa definedcontributionpensionscheme.Contributionspayableto the charitablecompany'spensionschemeare chargedto the Statementof FinancialActivitiesin the period to which they relate. ``` ``` continued... ``` ``` Page 14 ``` ``` Royal Cambrian Academy Of Art ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2024 ``` ## **`2. OTHER TRADING ACTIVITIES`** |`Commission on art sales`
`Books, catalogues, cards, posters, prints and craft`
`Sundry shop sales and room hire`
`Exhibition fees`
**`INVESTMENT INCOME`**
`Deposit account interest`
**`NET INCOME/(EXPENDITURE)`**
`Net income/(expenditure) is stated after charging/(crediting):`
`Depreciation - owned assets`
`Other operating leases`|`31.12.24`
`£`
`24,455`
`16,312`
`600`
`8,347`
`49,714`
`31.12.24`
`£`
`197`
`31.12.24`
`£`
`612`
`100`|`31.12.23`
`£`
`17,610`
`21,006`
`1,971`
`13,115`| |---|---|---| |||`53,702`| |||`31.12.23`
`£`
`976`
`31.12.23`
`£`
`721`
`100`| ## **`3. INVESTMENT INCOME`** ## **`4. NET INCOME/(EXPENDITURE)`** ## **`5. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2024nor for the year ended 31 December 2023. ``` ## **`Trustees' expenses`** ``` There were no trustees expenses paid during the year ended 31 December 2024 or 31 December 2023. ``` ## **`6. STAFF COSTS`** ``` The average monthly number of employees during the year was as follows: ``` ||`31.12.24`|`31.12.23`| |---|---|---| |`Governance and education`|`5`|`6`| ``` No employees received emoluments in excess of £60,000. ``` ``` continued... ``` ``` Page 15 ``` ``` Royal Cambrian Academy Of Art ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2024 ``` ## **`7. TANGIBLE FIXED ASSETS`** |`Improvements`
`Fixtures`
`to`
`and`
`property`
`fittings`
`£`
`£`
**`COST`**
`At 1 January 2024 and`
`31 December 2024`
`490,566`
`21,095`
**`DEPRECIATION`**
`At 1 January 2024`
`490,566`
`19,600`
`Charge for year`
`-`
`224`
`At 31 December 2024`
`490,566`
`19,824`
**`NET BOOK VALUE`**
`At 31 December 2024`
`-`
`1,271`
`At 31 December 2023`
`-`
`1,495`
**`8.`**
**`STOCKS`**
`Stocks`
**`9.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Tax and social security`
`Prepayments and accrued income`
**`10.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Other creditors`
`Accrued expenses`|`Computer`
`equipment`
`£`
`22,570`
`19,981`
`388`
`20,369`
`2,201`
`2,589`
`31.12.24`
`£`
`100`
`31.12.24`
`£`
`-`
`-`
`-`
`31.12.24`
`£`
`4,407`
`196`
`2,352`
`6,955`|`Totals`
`£`
`534,231`|`Totals`
`£`
`534,231`| |---|---|---|---| |||`530,147`
`612`|| |||`530,759`|| |||`3,472`|| |||`4,084`|| |||`31.12.23`
`£`
`500`
`31.12.23`
`£`
`3,738`
`1,085`
`4,823`
`31.12.23`
`£`
`-`
`302`
`4,128`
`4,430`|| ||||`4,430`| ``` continued... ``` ``` Page 16 ``` ``` Royal Cambrian Academy Of Art ``` ## `Notes to the Financial Statements - continued for the Year Ended 31 December 2024` ## **`11. MOVEMENT IN FUNDS`** |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Gwynt Y Mor - Conwy Connect`
`The Ulrike Michal Foundation for the`
`Arts`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above a`
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Gwynt Y Mor - Conwy Connect`
`The Ulrike Michal Foundation for the`
`Arts`
`Conwy Borough Council`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`The Ulrike Michal Foundation for the`
`Arts`
**`TOTAL FUNDS`**|`At 1.1.24`
`£`
`40,357`
`-`
`1,085`
`1,085`
`41,442`
`re as follows:`
`At 1.1.23`
`£`
`78,960`
`-`
`78,960`||`Net`
`movement`
`in funds`
`£`
`(37,876)`
`4,650`
`-`
`4,650`
`(33,226)`
`Incoming`
`resources`
`£`
`88,715`
`9,000`
`3,000`
`52,762`
`64,762`
`153,477`
`Net`
`movement`
`in funds`
`£`
`(37,518)`
`-`
`(37,518)`|| |---|---|---|---|---| |||||| |||||| |||||| ``` continued... ``` ``` Page 17 ``` ``` Royal Cambrian Academy Of Art ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2024 ``` ## **`11. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Gwynt Y Mor - Conwy Connect`
`The Ulrike Michal Foundation for the`
`Arts`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`90,159`
`5,700`
`3,085`
`8,785`
`98,944`|`Resources`
`expended`
`£`
`(127,677)`
`(5,700)`
`(3,085)`
`(8,785)`
`(136,462)`|`Movement`
`in funds`
`£`
`(37,518)`
`-`
`-`
`-`
`(37,518)`| |---|---|---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Gwynt Y Mor - Conwy Connect`
**`TOTAL FUNDS`**|`At 1.1.23`
`£`
`78,960`
`-`
`78,960`|`Net`
`movement`
`in funds`
`£`
`(75,394)`
`4,650`
`(70,744)`|`Transfers`
`between`
`funds`
`£`
`-`
`-`
`-`|`At`
`31.12.24`
`£`
`3,566`
`4,650`| |---|---|---|---|---| |||||`8,216`| ``` A currentyear12 monthsandprioryear12 monthscombinednetmovementin funds,includedin the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Gwynt Y Mor - Conwy Connect`
`The Ulrike Michal Foundation for the`
`Arts`
`Conwy Borough Council`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`178,874`
`14,700`
`6,085`
`52,762`
`73,547`
`252,421`|`Resources`
`expended`
`£`
`(254,268)`
`(10,050)`
`(6,085)`
`(52,762)`
`(68,897)`
`(323,165)`|`Movement`
`in funds`
`£`
`(75,394)`
`4,650`
`-`
`-`
`4,650`
`(70,744)`| |---|---|---|---| ``` continued... ``` ``` Page 18 ``` ``` Royal Cambrian Academy Of Art ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2024 ``` ## **`12. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 December 2024. ``` ``` Page 19 ``` ``` Royal Cambrian Academy Of Art ``` ``` Detailed Statement of Financial Activities for the Year Ended 31 December 2024 ``` |**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations and gifts`
`Grants receivable; CCBC, Town Council`
`Grant receivable; Gwynt y Mor`
`Ulrike Michal Foundation`
`Conwy B C`
**`Other trading activities`**
`Commission on art sales`
`Books, catalogues, cards, posters, prints and`
`craft`
`Sundry shop sales and room hire`
`Exhibition fees`
**`Investment income`**
`Deposit account interest`
**`Charitable activities`**
`Education/art classes`
`Members` fees and Members applications`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Other trading activities`**
`Opening stock`
`Fundraising trading costs - purchases`
`Closing stock`
**`Charitable activities`**
`Office costs/education outgoings`
`Prizes`
`Exhibition costs and printing`
**`Support costs`**
**`Management`**
`Staff costs`
`Carried forward`|`31.12.24`
`£`
`2,801`
`1,200`
`9,000`
`3,000`
`52,762`
`68,763`
`24,455`
`16,312`
`600`
`8,347`
`49,714`
`197`
`16,265`
`18,538`
`34,803`
`153,477`
`500`
`9,153`
`(100)`
`9,553`
`15,031`
`1,000`
`2,370`
`18,401`
`77,386`
`77,386`|`31.12.23`
`£`
`4,755`
`7,500`
`5,700`
`3,085`
`-`
`21,040`
`17,610`
`21,006`
`1,971`
`13,115`
`53,702`
`976`
`10,121`
`13,105`
`23,226`
`98,944`
`500`
`8,560`
`(500)`
`8,560`
`16,869`
`1,000`
`1,046`
`18,915`
`80,616`
`80,616`| |---|---|---| ``` This page does not form part of the statutory financial statements ``` ``` Page 20 ``` ``` Royal Cambrian Academy Of Art ``` ## `Detailed Statement of Financial Activities for the Year Ended 31 December 2024` |**`Management`**
`Brought forward`
`Pensions`
`Rent`
`Rates and water`
`Insurance`
`Light and heat`
`Telephone`
`Stationery, printing & postage`
`Advertising`
`Sundries`
`Repairs and maintenance`
`Professional fees`
`Accountancy fees`
`Bank charges and other charges`
`Depreciation of tangible and heritage assets`
`Total resources expended`
**`Net expenditure`**|`31.12.24`
`£`
`77,386`
`826`
`100`
`667`
`3,907`
`8,260`
`1,818`
`2,876`
`349`
`296`
`55,564`
`2,208`
`2,352`
`1,528`
`612`
`158,749`
`186,703`
`(33,226)`|`31.12.23`
`£`
`80,616`
`515`
`100`
`604`
`3,421`
`4,631`
`1,760`
`3,323`
`1,366`
`300`
`4,824`
`2,318`
`2,256`
`2,232`
`721`
`108,987`
`136,462`
`(37,518)`| |---|---|---| ``` This page does not form part of the statutory financial statements ``` ``` Page 21 ```