**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:
1. accounting records were not kept in respect of the Trust 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 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...
Page 7
**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...
Page 8
**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...
Page 9
**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...
Page 10
**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...
Page 11
**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.
Page 12
**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
Page 13