REGISTERED CHARITY NUMBER: 250069
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for
The Llantrisant Town Trust
Curtis Bowden & Thomas Limited Chartered Certified Accountants 9 Court Road Bridgend CF31 1BE
The Llantrisant Town Trust
Contents of the Financial Statements for the Year Ended 31 December 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
The Llantrisant Town Trust
Report of the Trustees for the Year Ended 31 December 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities
Objectives and aims
The objective of the Trust is to manage commons and grazing rights for the Freeman of Llantrisant.
Admission of women to the Freemen's Roll
A special meeting of freemen in 2022 resolved to admit women to the freemen's roll for the first time since 1346. The change to the constitution of the trust was approved by the Charity Commission early in 2023, and at the Court Leet on 9th June, 100 new freemen were admitted, including 77 women.
Registration of ownership of the commons
New documentation was signed by all trustees and submitted to the Land Registry by the trust's solicitor. At the time of purchase, registration of title was not compulsory, and was not carried out, but trustees decided to rectify this. At the time of writing in July 2024, the Land Registry has still not completed the registration process.
Healthy Hillsides - Graig
The trust participated in a programme led by the fire service to manage the spread of bracken on the Graig in an attempt to reduce fire risk. This was consistent with the wish of trustees to promote grazing on the Graig, and was supported by Natural Resources Wales ( NRW ). The programme also included the chemical suppression of knotweed along the road boundary of the Graig. Vegetation clearance along footpaths was carried out by the local authority.
Management of Cymdda Common
This included the removal of willow by contractors employed by NRW, and topping of some areas of grazing. There was a fire in dry molinia grassland in the south east corner of the common that was attended by the fire service. The cattle stocking rates were in accordance with the agreement between the trust and NRW. Discussion commenced with NRW about the provision of cattle collars to facilitate fenceless grazing. A new pound was established on the western edge of Castellau Road, outside the SSSI boundary. Consent was granted for statutory operations by British Telecom and Welsh Water which resulted in minor compensation payments to the trust. Easement documentation produced by Welsh Water was challenged. Attempts to re-establish marsh fritillary butterflies were undertaken by INCC, involving the translocation of pupae raised offsite.
Land off Castellau Road
This area of about seven acres was donated to the trust the previous year. Management tasks completed included the topping of scrub vegetation on the part of the site intended for future grazing, and the seeding of this area with rhos pasture hay obtained from Pencoed College. Charitable funding was obtained to produce a management plan, and initial discussions held with the local wildlife trust to progress this.
Beating the Bounds
Initial planning for the event to be held in 2024 commenced with meetings with the police and local authority.
Page 1
The Llantrisant Town Trust
Report of the Trustees
for the Year Ended 31 December 2023
Financial review
Reserves policy
Unrestricted funds income amounted to £19,127. The main sources of income are from Freemen enrollment fees £10,100.
Unrestricted Grant income received from National Resources Wales of £21,680 to support the maintenance of the common. This includes an annual payment of £8,000 relating to 5 year project with Natural Resources Wales.
Restricted fund income this year amounted to £12,475. This relates to two projects, Defence Against Mining For Common Improvement and New land Maintenance. No expenditure had been incurred on this project up to 31st December 2023.
This year £115 of Bank interest was accrued in the saving account.
Expenditure amounted to £25,014 and therefore the net result for the year was an excess of receipts over payments of £28,458.
Reserves brought forward amounted to £123,023 meaning reserves carried forward amount to £151,481.
Future plans
The Trust will continue to further improve Llantrisant Common.
Structure, governance and management Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Reference and administrative details
Registered Charity number
250069
Principal address
The Guildhall Castle Green George Street Llantrisant CF72 8EE
Trustees
M J Hooker D Nicholas D T John J M Dickason H E Rees (resigned 6.1.23) K D Powell (deceased 5.8.23) G Rees G Alexander D Powell (resigned 4.9.23) R Hunt T W Grother C W Grother E Townsend Jones D John (appointed 6.11.23)
Independent Examiner
Curtis Bowden & Thomas Limited Chartered Certified Accountants 9 Court Road Bridgend CF31 1BE
Page 2
The Llantrisant Town Trust
Report of the Trustees for the Year Ended 31 December 2023
Approved by order of the board of trustees on 25 October 2024 and signed on its behalf by:
T W Grother - Trustee
Page 3
Independent Examiner's Report to the Trustees of The Llantrisant Town Trust
Independent examiner's report to the trustees of The Llantrisant Town Trust
I report to the charity trustees on my examination of the accounts of The Llantrisant Town Trust (the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
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 respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts 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 matters 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 reached.
Robert Lloyd
Curtis Bowden & Thomas Limited Chartered Certified Accountants 9 Court Road Bridgend CF31 1BE
25 October 2024
Page 4
The Llantrisant Town Trust
Statement of Financial Activities
for the Year Ended 31 December 2023
| Unrestricted fund Notes £ Income and endowments from Charitable activities general 75 Charitable Activities 21,680 Other trading activities 2 19,127 Investment income 3 115 Total 40,997 Expenditure on Charitable activities general 25,014 NET INCOME 15,983 Reconciliation of funds Total funds brought forward 122,546 Total funds carried forward 138,529 |
Restricted funds £ - 12,475 - - 12,475 - 12,475 477 12,952 |
31.12.23 31.12.22 Total Total funds funds £ £ 75 - 34,155 7,200 19,127 5,550 115 7 53,472 12,757 25,014 11,266 28,458 1,491 123,023 121,532 151,481 123,023 |
31.12.23 31.12.22 Total Total funds funds £ £ 75 - 34,155 7,200 19,127 5,550 115 7 53,472 12,757 25,014 11,266 28,458 1,491 123,023 121,532 151,481 123,023 |
|---|---|---|---|
| 12,757 | |||
| 11,266 | |||
| 1,491 121,532 |
|||
| 123,023 |
The notes form part of these financial statements
Page 5
The Llantrisant Town Trust
Balance Sheet
31 December 2023
| Unrestricted fund Notes £ Fixed assets Tangible assets 6 102,789 Current assets Debtors 7 1,045 Cash at bank 35,776 36,821 Creditors Amounts falling due within one year 8 (1,081) Net current assets 35,740 Total assets less current liabilities 138,529 NET ASSETS 138,529 Funds 9 Unrestricted funds Restricted funds Total funds |
Restricted funds £ - - 12,952 12,952 - 12,952 12,952 12,952 |
31.12.23 Total funds £ 102,789 1,045 48,728 49,773 (1,081) 48,692 151,481 151,481 138,529 12,952 151,481 |
31.12.22 Total funds £ 102,789 1,045 27,181 28,226 (7,992) 20,234 123,023 123,023 122,546 477 123,023 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 25 October 2024 and were signed on its behalf by:
T W Grother - Trustee
The notes form part of these financial statements
Page 6
The Llantrisant Town Trust
Notes to the Financial Statements
for the Year Ended 31 December 2023
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | - No depreciation charge |
|---|---|
| Loving Cup | - No depreciation charge |
| Fixtures, fittings and Equipment | - 25% on cost |
| 650th Anniversary Medal | - No depreciation charge |
| Silver Mace | - No depreciation charge |
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. Other trading activities
| Other trading activities | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Freemen's enrolment fees | 10,100 | 2,580 |
| Wayleaves | 1,976 | 440 |
| Grazing fees | 446 | - |
| Miscellaneous income | 140 | 150 |
| Social events & activities | 6,465 | 2,380 |
| 19,127 | 5,550 |
continued...
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The Llantrisant Town Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
3. Investment income
| Investment income | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Deposit account interest | 115 | 7 |
4. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
5. Comparatives for the statement of financial activities
| Unrestricted fund £ Income and endowments from Charitable activities Charitable Activities 7,200 Other trading activities 5,550 Investment income 7 Total 12,757 Expenditure on Charitable activities general 6,343 NET INCOME/(EXPENDITURE) 6,414 Reconciliation of funds Total funds brought forward 116,132 Total funds carried forward 122,546 |
Restricted funds £ - - - - 4,923 (4,923) 5,400 477 |
Total funds £ 7,200 5,550 7 |
|---|---|---|
| 12,757 | ||
| 11,266 | ||
| 1,491 121,532 |
||
| 123,023 |
continued...
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The Llantrisant Town Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
6. Tangible fixed assets
| Freehold property £ Cost At 1 January 2023 and 31 December 2023 6,000 Depreciation At 1 January 2023 and 31 December 2023 - Net book value At 31 December 2023 6,000 At 31 December 2022 6,000 650th Anniversary Medal £ Cost At 1 January 2023 and 31 December 2023 89 Depreciation At 1 January 2023 and 31 December 2023 - Net book value At 31 December 2023 89 At 31 December 2022 89 7. Debtors: amounts falling due within one year Prepayments |
Loving Cup £ 16,700 - 16,700 16,700 Silver Mace £ 80,000 - 80,000 80,000 31.12.23 £ 1,045 |
Fixtures, fittings and Equipment £ 4,937 4,937 - - Totals £ 107,726 4,937 102,789 102,789 31.12.22 £ 1,045 |
|---|---|---|
continued...
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The Llantrisant Town Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 8. Creditors: amounts falling due within one year Trade creditors Other creditors 9. Movement in funds Unrestricted funds General fund Restricted funds NRW Project Defence against mining for common improvement New Land Maintenance Project TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Defence against mining for common improvement New Land Maintenance Project TOTAL FUNDS |
At 1.1.23 £ 122,546 477 - - 477 123,023 Incoming resources £ 40,997 11,475 1,000 12,475 53,472 |
31.12.23 31.12.22 £ £ 1 7,032 1,080 960 1,081 7,992 Net movement At in funds 31.12.23 £ £ 15,983 138,529 - 477 11,475 11,475 1,000 1,000 12,475 12,952 28,458 151,481 Resources Movement expended in funds £ £ (25,014) 15,983 - 11,475 - 1,000 - 12,475 (25,014) 28,458 |
|---|---|---|
continued...
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The Llantrisant Town Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
9. Movement in funds - continued
Comparatives for movement in funds
| At 1.1.22 £ Unrestricted funds General fund 116,132 Restricted funds NRW Project 5,400 TOTAL FUNDS 121,532 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 12,757 Restricted funds NRW Project - TOTAL FUNDS 12,757 A current year 12 months and prior year 12 months combined position is as follows: |
Net movement At in funds 31.12.22 £ £ 6,414 122,546 (4,923) 477 1,491 123,023 Resources Movement expended in funds £ £ (6,343) 6,414 (4,923) (4,923) (11,266) 1,491 |
At 31.12.22 £ 122,546 477 |
At 31.12.22 £ 122,546 477 |
|---|---|---|---|
| 123,023 | |||
| 1,491 | |||
| Unrestricted funds General fund Restricted funds NRW Project Defence against mining for common improvement New Land Maintenance Project TOTAL FUNDS |
At 1.1.22 £ 116,132 5,400 - - 5,400 121,532 |
Net movement in funds £ 22,397 (4,923) 11,475 1,000 7,552 29,949 |
At 31.12.23 £ 138,529 477 11,475 1,000 |
|---|---|---|---|
| 12,952 | |||
| 151,481 |
continued...
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The Llantrisant Town Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
9. Movement in funds - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 53,754 | (31,357) | 22,397 |
| Restricted funds | |||
| NRW Project | - | (4,923) | (4,923) |
| Defence against mining for common | |||
| improvement | 11,475 | - | 11,475 |
| New Land Maintenance Project | 1,000 | - | 1,000 |
| 12,475 | (4,923) | 7,552 | |
| TOTAL FUNDS | 66,229 | (36,280) | 29,949 |
10. Related party disclosures
There were no related party transactions for the year ended 31 December 2023.
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The Llantrisant Town Trust
| Income and endowments Other trading activities Freemen's enrolment fees Wayleaves Grazing fees Miscellaneous income Social events & activities Investment income Deposit account interest Charitable activities Donations and Appeals Grants Total incoming resources Expenditure Charitable activities Insurance Subscriptions Freeman expenses Computer costs and website Accountancy fees General Repairs Social events & activities Legal fees Total resources expended Net income |
Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 £ £ 10,100 2,580 1,976 440 446 - 140 150 6,465 2,380 19,127 5,550 115 7 75 - 34,155 7,200 34,230 7,200 53,472 12,757 829 1,343 45 45 762 1,139 167 89 1,200 1,200 14,730 4,923 6,650 2,527 631 - 25,014 11,266 25,014 11,266 28,458 1,491 |
Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 £ £ 10,100 2,580 1,976 440 446 - 140 150 6,465 2,380 19,127 5,550 115 7 75 - 34,155 7,200 34,230 7,200 53,472 12,757 829 1,343 45 45 762 1,139 167 89 1,200 1,200 14,730 4,923 6,650 2,527 631 - 25,014 11,266 25,014 11,266 28,458 1,491 |
|---|---|---|
| 5,550 7 - 7,200 |
||
| 7,200 | ||
| 12,757 1,343 45 1,139 89 1,200 4,923 2,527 - |
||
| 11,266 | ||
| 11,266 | ||
| 1,491 |
This page does not form part of the statutory financial statements
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