2024-04-05-accounts

Docusign Envelope ID: F8B17A46-80A5-45BE-A0E4-A4ED7A1BD0AB

TRUSTEES OF THE LLYSDINAM TRUST ANNUAL REPORT OF THE ACTIVITIES OF THE TRUSTEES FOR THE YEAR ENDED 5[TH] APRIL 2024

1. Charity Name : The Llysdinam Trust 2. Registration Number : 255528 3. Charity’s Registered Address : Druslyn House

De la Beche Street

Swansea SA1 3HH

1. Names of the Trustees : Mary Julia Elster Norman Oliver Tyler Lady Carolyn Venables Llewelyn

5. Description Of The Charity :

The charity was set up by Trust Deed dated 1[st] March 1968 the Settlor being Brigadier Sir C.M.D. Venables Llewelyn Bart. M.V.O. The Settlor required the Trustees to stand possessed of the Trust Fund Upon Trust to pay, or apply, the annual income thereof and with power to pay or apply all or any of the capital thereof from time to time respectively to such Charities or for such Charitable purposes as the Trustees in their absolute discretion, without being liable to account for the exercise of the same shall from time to time think fit. The Settlor expressed the hope that the Trustees would in the execution of the Trust and the exercise of power vested in them give preference to charities and Charitable purposes specified in the schedule attached to the Deed. The schedule states:

• A. The advancement of education in the natural sciences and in particular in Botany and Biology.

• B. The advancement (so far as legally charitable) of Horticulture, Agriculture and silviculture.

• C. The advancement of the Christian religion in Wales and in particular by support of the Church of Wales.

• D. The relief of poverty in Wales and particularly in the parishes of Llysdinam Llanfihangel-Bryn-Pabuan and Llanafan Fawr in the County of Brecon and the Parish of Llanyre in the county of Radnor.

1

Docusign Envelope ID: F8B17A46-80A5-45BE-A0E4-A4ED7A1BD0AB

6. Charity’s Activities and Achievements in the Year Ended 5[th] April 2024:

Commitments to the maintenance of heritage property continues to be challenging out of rental income yet consideration is being given to upgrade the trust’s residential real estate property portfolio with the goal to provide modern accommodation that meets current regulatory standards.

Increased yields from financial investments have proved an essential contribution to the diversity of the Trust’s asset base thereby enabling it to continue its support of a range of worthy local causes. The trust has continued its long-standing support for local arts initiatives. This financial year the trust has funded several projects including community theater productions, art exhibitions and music festivals. These projects have enriched the cultural landscape of the local community and provided opportunities for local artists to showcase their talents. Of exceptional note the Llysdinam Trust was called upon to make its first urgent contribution towards the Wyeside Arts Centre (charity number 505656) following withdrawal of significant funding from government grants. It has been confirmed by the board of trustees that such contribution saved that charitable organisation from winding up and is a particularly pleasing result.

In addition to supporting the arts, the Trust has contributed to various other causes. Grants have been provided to local schools for educational programs, support for environmental conservation projects and funding for health and wellness initiatives. These efforts have had a positive impact on the well-being of the local community. An increased contribution from volunteers who enjoy the health benefits of working in the Llysdinam Gardens has enabled the trust to raise its production of garden produce which is being sold fresh to local markets.

Planning matters continue to plague the trustees in that whilst there is enthusiasm from private enterprise to promote development projects, progress is often delayed or suppressed by regulatory process such that market opportunities are missed and developers withdraw. Contract documentation has however been progressed for the prospective Renewable Energy Battery Storage Facility reported last year on part of the Swansea Region real estate and is now going through the planning process and will be shortly determined. Should planning permission be granted this will completely change the financial dynamic for the Llysdinam trust and a welcome diversification to its real estate portfolio to ensure a stable and sustainable future..

On the topic of renewable energy, the trustees are looking forward to realising their plans to reducing Carbon Footprint by introducing electric powered tools to the Llysdinam Gardens. A local solar installation is nearing completion and a green energy supply will be available as a result through a private wire arrangement. It should be noted that all of the land incorporated in Llysdinam Gardens is managed in accordance with best environmental practice.

Mary J Elster Senior Trustee, Llysdinam Trust

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Charity No. 255528 THE LLYSDINAM TRUST TRUST ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024

THE LLYSDINAM TRUST TRUST INFORMATION Trust¢e$ '. Mrs.M.J.Elsler Mr.N.O.Tyler Lady C.Venables Llewelyn Managing Agents '. Messrs. Rees Richards & Partners Chartered SuN&yors, Land & EstateAgents Drusfyn House De la Beche Street Swansea SA13HH Bankers '. Barclays Bank plc 262 Oxford Street Swansea Solicrtors '. Morgan La Roche Bay House Phoenix Way Swansea SA7 9YT Accountants '. Butterfield Morgan ￿mited Chartered Accountants Druslyn House De la Bethe Street Swansea SA1 3HJ

THE LLYSDINAM TRUST CONTENTS Pag• AccoLrntsnls' report Profft and loss account Balance sheet Notes to thè a¢counts

THE LLYSDINAM TRUST CHARTERED ACCOUNTANTS, REPORT TO THE TRUSTEES ON THE UNAUDITEDACCOUNTS I report on the ac¢ounl$ of the Trust for the year ended S April 2024 which are set out on pages 2 to 6. Respectlve responsibilities of tr￿le￿ and examlner rhè eharlty's trustees are respon8ibl¢ for th• preparallon ofthe accourrt¥. The charity's trustees cOns￿er that an audit 15 not required for Ihis year under sectK)n 144121 of the Charifr'es Act 2011 Ilhe 2011 Act) and that an independent ex8min8tion is needed. It is my ￿SpOnsIbl11ty to.. examine the accounts under Secti￿ 145 of the 2011 Act lo follow the pro￿du￿S laid down in the General Directions given by the Charity Commission under seob'on 14515llbl of the 2011 Act. and to state whether particular matters have come lo ny attention. B¥si$ ol independerrt examiners. Tèport My examination w8s carried out in aco)rdance with the G¥ngral Dlrections given by the Charty Commission. An examinabon indu(Jes a review of the ac£ounting records kept by the charity and a comparison of the accounts presented with those reo)rds. It al30 indudes consideration of any unusual rtems or disclosures in the ￿0￿nts, and seeking explanatlolls from you as tw$lees ¢oneerning any such matters. The procedures undertakgn do not provide all the evidence that would be ￿quired in gn audit and, consequently. no opinion is gwen as to whether the accounts pre8ent a'true and tsirvie and the report is limited to those matters set out in the stateff￿nt below. Independent oxamin•rs' statemerrt In connection wilh my eXa￿nat￿ln. no matter h88 come lo rry *tents"on '. (?} which gNes me reasonable cause lo bglvava th8t, in any Material ￿spect, the wUire￿￿nts'. to keep accounting records in accordance with section 130 of th8 2011 Act., and to prepare accounts which accord wrth the accounting records and comply with the accounts.ng requirements of the2011 A¢t have not been met, or 121 lo which. in my opinion, attention should be drawn in order to onablo a proper understanding of the accounts lo be reached. R Wookny FCCA Butterfeld Morgan Limil¢d Chartered Ae&)untant$ Drustyn House De la Bed)e Stregt Swan3ea Dated ". ..2024 Pagol-

THE LLYSDINAM TRUST DETAILED TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrostricted Endowmont Funds Funds Total Funds 2024 Total Fund¥ 2023 Note• INCOMING RESOURCES Rents and ground rents Profil I (Lossl on granting of leas•$ Investment income Other income Revaluats'on gain 103,554 103.554 12.567 107,460 10.013 68,274 31,490 79,760 9,290 12,567 107,460 10.013 221,027 12,567 233,594 188.814 RESOURCES EXPENDEO Direct charitable expenditure- Donatsons and grants Other expenditure". Management and administration Repairs and property upkaep Rates and insurance Wages Estate management anfj other fees Stockbrokers fees Accountancy and taxation fees Rent, rates. ub'litr'es and Sundry expenses I Profit) ILos$ on disposal of listed investments Depreciation 18) 69.658 69,656 52,774 65,985 6,218 41,013 46,925 13,997 2,520 8,072 18,669 2,410 65,985 6,218 41,013 46,925 13,997 2,520 8,072 18.669 2,410 71,407 5,705 46.064 40,640 17,750 2,400 5,6$2 117,1761 2,019 TOTAL EXPENDITURE 278,063 278,063 227,24S NET INCOMINGIIOUTGOINGI RESOURCES BEFORE TRANSFERS 157.0361 12.587 144,4691 138,4311 Gross trans￿r9 belw••n funds 12.567 112.5671 TOTAL FUNDS BROUGHT FORWARD 181.6901 5,281.036 5,199.346 5,237,777 TOTAL FUNDS CARRIED FORWARD {126.1591 5,281.036 5,154.877 5,199,346 Pa982-

THE LLYSDINAM TRUST BALANCE SHEET ASAT5APRIL 2024 2024 2023 Notes Flxed assets Tangible assets Investments 1,809,913 2,033,010 1,874,778 2.042.935 3,842,923 3,917,713 Current assets Trade debtors Prepayments Cash at bank an¢J in hand 35,906 3.927 1,339.566 22,485 4,880 1,327.313 1,379,399 1.354.678 Current liabiliti Creditors and accrued Charges 67,445 73,045 Net curront o$¥•ts 1,311,954 1.281,633 Total assets 1tr88 ¢urr•nt liabilities 5,154,877 5.199.346 ENDOWMENT FUNDS UNRESTRICTED INCOME FUNOS 5,281,036 1126,1591 15,281,038} 181,6901 5,154.877 5,199,346 The A¢¢ounts set out on pages 2 10 6 We￿ approved by the Tru$t¢g$ } Trustees -Page3-

THE LLYSDINAM TRUST BALANCE SHEET ASAT 5APRIL 2024 ACCOUNTING POLICIES In preparing thé 8cwunts the following accounting poliaes have been complièd wth.. al The acLxiunts have been pr$pared on the historic cost convention with the &xception that properties are valued at market value on 31 August 2(Y22. The 8ccounts arè in ac￿rdaTh￿ wlh applrcable accounting standards and the Ch8ritEsAct 2011. bl Investment inwme is recorded when re¢eivable. cl Expendrture is induded in the accounts On an accruals basis. dl The endowrnent of the charty 1$ expendable gndowment. The infJ)me arising from Ihe expendable endowment is unrestricted. el Dep￿Ciall0n is pmvided on tan9ible f￿ed asset$ al the follo¥Mng ratss.. Improvements- 10Y4 on the reducing balance Garden Equipment- 10 10 on tho reducing ba18n¢e MtsloT Vehicle- 25% on the reducing balanca TANGIBLE FIXED ASSETS Investment Properties Garden Equipment Molo Vehicle Improvements Tot81 Cost or valuation As at 06.04.23 Additrons l Revaluation Disposals 1,867,671 24.108 23,857 7,200 5,994 1,915,628 7.200 169,6551 169,8551 As at 05.04.24 1,792,016 24.106 31,057 5,994 1,853.173 Depreeiation As at 06.04.23 Charge for the year 17.532 657 19.853 1.121 3,465 632 40,850 2.410 As 8t 05.04.24 18.189 20,974 4.097 43,260 Net 8ook Values As at 05.04.24 1.792,016 5,917 10,083 1,897 1.809.913 As at 06.04.23 f,861.671 6.574 4,004 2,529 1.874.778 Investment properties werè r￿alued on 31stAugust 2022 by Rees Richards & Partners, Chartered Surveyors, on open mathei value basis in accordance wlth the guidelines issed by the Royal Instilute of Chartered Surveyors. -Page4-

THE LLYSDINAM TRUST BALANCE SHEET AS AT 5APRIL 2024 (Continuedl INVESTMENTS 2024 2023 General 80,000'A' Shares of 25p each in Penllergaer Eststes Limrted Shares acquired via Stockbrokers 20.000 20,000 2,013,010 2,022.935 2,033,010 2.042,935 The market value of the shares are valued by Brewn Dolphin Stockbrokers at £2,204,￿)3, as at the Balan Sheet date.12023". £2,151,182). OEBTORS 2024 2023 Renlal incorTE dèbtors 35,9C 22,485 CREDITORS 2024 2023 Accruals 67.445 73,045 ENDOWMENT FUNOS This is an expendable endowmentfund. There are no reslricb'ons on the caprtal or in¢ome of this Trust. TAXATION The trust is a wistered charity and accordingty is exenwl from taxation on its iwme and gains whert they are applied for charitable purp08es. -P89e5-

THE LLYSDINAM TRUST BALANCE SHEET AS AT 5 APRIL 2024 Icontinuedl DONATIONS 2024 2023 Shye Arts Centre Ltdl CARAD Montgomeryshire YoLrth Theatre National Gardens Scheme Shakespeare Link Wales AirAmbulance XL Walès. Swansea Helping the homeless Wales Hay & Brecon Refuge Sanctuary Llandrindod Wells Foodbank Call￿r Research Dementia Friendty Swansea Newbridge 8￿j Project- Last year cheque uncashed Arts Connectk)n LEAF Newbridge on Baptist Chur¢h NGS Powys South Ryader by Nature Newbridgé on We CIVVSthool 30,000 3,000 2.000 3,0(X) 2,000 7,600 3,000 5,226 1,000 10,000 5.000 3.000 6,081 1.000 10.000 3.000 1.760 2,948 2.000 3,000 13,0001 3,OCM) 1,000 1,000 1,485 350 10.000 10.000 69,856 52,774 EMPLOYEE REMUNERATION Total remuneration for the year ai..-unted to £41.013 (2023 .' t46,0641. The average number of paid staff for the year was 1.12023.. 11 10 TRUSTEES REMUNERATION AND EXPENSES No remuneration direcuy or indirectly out of the lunds of the charity was paid or payabltt for the year to any trusteè or to any person or persons known lo be connecled with artry of them. No reimbur3enpnt ol expenses has been made or is due to be made to any ol the trustse$ in respect of the year. -Page6-

Charity No. 255528 THE LLYSDINAM TRUST TRUST ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024

THE LLYSDINAM TRUST TRUST INFORMATION Trust¢e$ '. Mrs.M.J.Elsler Mr.N.O.Tyler Lady C.Venables Llewelyn Managing Agents '. Messrs. Rees Richards & Partners Chartered SuN&yors, Land & EstateAgents Drusfyn House De la Beche Street Swansea SA13HH Bankers '. Barclays Bank plc 262 Oxford Street Swansea Solicrtors '. Morgan La Roche Bay House Phoenix Way Swansea SA7 9YT Accountants '. Butterfield Morgan ￿mited Chartered Accountants Druslyn House De la Bethe Street Swansea SA1 3HJ

THE LLYSDINAM TRUST CONTENTS Pag• AccoLrntsnls' report Profft and loss account Balance sheet Notes to thè a¢counts

THE LLYSDINAM TRUST CHARTERED ACCOUNTANTS, REPORT TO THE TRUSTEES ON THE UNAUDITEDACCOUNTS I report on the ac¢ounl$ of the Trust for the year ended S April 2024 which are set out on pages 2 to 6. Respectlve responsibilities of tr￿le￿ and examlner rhè eharlty's trustees are respon8ibl¢ for th• preparallon ofthe accourrt¥. The charity's trustees cOns￿er that an audit 15 not required for Ihis year under sectK)n 144121 of the Charifr'es Act 2011 Ilhe 2011 Act) and that an independent ex8min8tion is needed. It is my ￿SpOnsIbl11ty to.. examine the accounts under Secti￿ 145 of the 2011 Act lo follow the pro￿du￿S laid down in the General Directions given by the Charity Commission under seob'on 14515llbl of the 2011 Act. and to state whether particular matters have come lo ny attention. B¥si$ ol independerrt examiners. Tèport My examination w8s carried out in aco)rdance with the G¥ngral Dlrections given by the Charty Commission. An examinabon indu(Jes a review of the ac£ounting records kept by the charity and a comparison of the accounts presented with those reo)rds. It al30 indudes consideration of any unusual rtems or disclosures in the ￿0￿nts, and seeking explanatlolls from you as tw$lees ¢oneerning any such matters. The procedures undertakgn do not provide all the evidence that would be ￿quired in gn audit and, consequently. no opinion is gwen as to whether the accounts pre8ent a'true and tsirvie and the report is limited to those matters set out in the stateff￿nt below. Independent oxamin•rs' statemerrt In connection wilh my eXa￿nat￿ln. no matter h88 come lo rry *tents"on '. (?} which gNes me reasonable cause lo bglvava th8t, in any Material ￿spect, the wUire￿￿nts'. to keep accounting records in accordance with section 130 of th8 2011 Act., and to prepare accounts which accord wrth the accounting records and comply with the accounts.ng requirements of the2011 A¢t have not been met, or 121 lo which. in my opinion, attention should be drawn in order to onablo a proper understanding of the accounts lo be reached. R Wookny FCCA Butterfeld Morgan Limil¢d Chartered Ae&)untant$ Drustyn House De la Bed)e Stregt Swan3ea Dated ". ..2024 Pagol-

THE LLYSDINAM TRUST DETAILED TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrostricted Endowmont Funds Funds Total Funds 2024 Total Fund¥ 2023 Note• INCOMING RESOURCES Rents and ground rents Profil I (Lossl on granting of leas•$ Investment income Other income Revaluats'on gain 103,554 103.554 12.567 107,460 10.013 68,274 31,490 79,760 9,290 12,567 107,460 10.013 221,027 12,567 233,594 188.814 RESOURCES EXPENDEO Direct charitable expenditure- Donatsons and grants Other expenditure". Management and administration Repairs and property upkaep Rates and insurance Wages Estate management anfj other fees Stockbrokers fees Accountancy and taxation fees Rent, rates. ub'litr'es and Sundry expenses I Profit) ILos$ on disposal of listed investments Depreciation 18) 69.658 69,656 52,774 65,985 6,218 41,013 46,925 13,997 2,520 8,072 18,669 2,410 65,985 6,218 41,013 46,925 13,997 2,520 8,072 18.669 2,410 71,407 5,705 46.064 40,640 17,750 2,400 5,6$2 117,1761 2,019 TOTAL EXPENDITURE 278,063 278,063 227,24S NET INCOMINGIIOUTGOINGI RESOURCES BEFORE TRANSFERS 157.0361 12.587 144,4691 138,4311 Gross trans￿r9 belw••n funds 12.567 112.5671 TOTAL FUNDS BROUGHT FORWARD 181.6901 5,281.036 5,199.346 5,237,777 TOTAL FUNDS CARRIED FORWARD {126.1591 5,281.036 5,154.877 5,199,346 Pa982-

THE LLYSDINAM TRUST BALANCE SHEET ASAT5APRIL 2024 2024 2023 Notes Flxed assets Tangible assets Investments 1,809,913 2,033,010 1,874,778 2.042.935 3,842,923 3,917,713 Current assets Trade debtors Prepayments Cash at bank an¢J in hand 35,906 3.927 1,339.566 22,485 4,880 1,327.313 1,379,399 1.354.678 Current liabiliti Creditors and accrued Charges 67,445 73,045 Net curront o$¥•ts 1,311,954 1.281,633 Total assets 1tr88 ¢urr•nt liabilities 5,154,877 5.199.346 ENDOWMENT FUNDS UNRESTRICTED INCOME FUNOS 5,281,036 1126,1591 15,281,038} 181,6901 5,154.877 5,199,346 The A¢¢ounts set out on pages 2 10 6 We￿ approved by the Tru$t¢g$ } Trustees -Page3-

THE LLYSDINAM TRUST BALANCE SHEET ASAT 5APRIL 2024 ACCOUNTING POLICIES In preparing thé 8cwunts the following accounting poliaes have been complièd wth.. al The acLxiunts have been pr$pared on the historic cost convention with the &xception that properties are valued at market value on 31 August 2(Y22. The 8ccounts arè in ac￿rdaTh￿ wlh applrcable accounting standards and the Ch8ritEsAct 2011. bl Investment inwme is recorded when re¢eivable. cl Expendrture is induded in the accounts On an accruals basis. dl The endowrnent of the charty 1$ expendable gndowment. The infJ)me arising from Ihe expendable endowment is unrestricted. el Dep￿Ciall0n is pmvided on tan9ible f￿ed asset$ al the follo¥Mng ratss.. Improvements- 10Y4 on the reducing balance Garden Equipment- 10 10 on tho reducing ba18n¢e MtsloT Vehicle- 25% on the reducing balanca TANGIBLE FIXED ASSETS Investment Properties Garden Equipment Molo Vehicle Improvements Tot81 Cost or valuation As at 06.04.23 Additrons l Revaluation Disposals 1,867,671 24.108 23,857 7,200 5,994 1,915,628 7.200 169,6551 169,8551 As at 05.04.24 1,792,016 24.106 31,057 5,994 1,853.173 Depreeiation As at 06.04.23 Charge for the year 17.532 657 19.853 1.121 3,465 632 40,850 2.410 As 8t 05.04.24 18.189 20,974 4.097 43,260 Net 8ook Values As at 05.04.24 1.792,016 5,917 10,083 1,897 1.809.913 As at 06.04.23 f,861.671 6.574 4,004 2,529 1.874.778 Investment properties werè r￿alued on 31stAugust 2022 by Rees Richards & Partners, Chartered Surveyors, on open mathei value basis in accordance wlth the guidelines issed by the Royal Instilute of Chartered Surveyors. -Page4-

THE LLYSDINAM TRUST BALANCE SHEET AS AT 5APRIL 2024 (Continuedl INVESTMENTS 2024 2023 General 80,000'A' Shares of 25p each in Penllergaer Eststes Limrted Shares acquired via Stockbrokers 20.000 20,000 2,013,010 2,022.935 2,033,010 2.042,935 The market value of the shares are valued by Brewn Dolphin Stockbrokers at £2,204,￿)3, as at the Balan Sheet date.12023". £2,151,182). OEBTORS 2024 2023 Renlal incorTE dèbtors 35,9C 22,485 CREDITORS 2024 2023 Accruals 67.445 73,045 ENDOWMENT FUNOS This is an expendable endowmentfund. There are no reslricb'ons on the caprtal or in¢ome of this Trust. TAXATION The trust is a wistered charity and accordingty is exenwl from taxation on its iwme and gains whert they are applied for charitable purp08es. -P89e5-

THE LLYSDINAM TRUST BALANCE SHEET AS AT 5 APRIL 2024 Icontinuedl DONATIONS 2024 2023 Shye Arts Centre Ltdl CARAD Montgomeryshire YoLrth Theatre National Gardens Scheme Shakespeare Link Wales AirAmbulance XL Walès. Swansea Helping the homeless Wales Hay & Brecon Refuge Sanctuary Llandrindod Wells Foodbank Call￿r Research Dementia Friendty Swansea Newbridge 8￿j Project- Last year cheque uncashed Arts Connectk)n LEAF Newbridge on Baptist Chur¢h NGS Powys South Ryader by Nature Newbridgé on We CIVVSthool 30,000 3,000 2.000 3,0(X) 2,000 7,600 3,000 5,226 1,000 10,000 5.000 3.000 6,081 1.000 10.000 3.000 1.760 2,948 2.000 3,000 13,0001 3,OCM) 1,000 1,000 1,485 350 10.000 10.000 69,856 52,774 EMPLOYEE REMUNERATION Total remuneration for the year ai..-unted to £41.013 (2023 .' t46,0641. The average number of paid staff for the year was 1.12023.. 11 10 TRUSTEES REMUNERATION AND EXPENSES No remuneration direcuy or indirectly out of the lunds of the charity was paid or payabltt for the year to any trusteè or to any person or persons known lo be connecled with artry of them. No reimbur3enpnt ol expenses has been made or is due to be made to any ol the trustse$ in respect of the year. -Page6-