Penrhyn New Hall Limited, Tnjstees. Annual Report year ended 31 March 2024 Trustees, Annual Report - Penrhyn New Hall Limited For the period starting 1 April 2023 and ending 31 March 2024 Charity registration number. 260371 Company number: 00958549 REPORT OF THE MANAGEMENT COMMIThEE The Management Committee are pkased to presenl their combined Trustees, Annual and Iwmpany law complianll director's report for the year ending 31 March 2024. The ieport comprises". A report by the Mana9ement Committee {Direclor's Rew)rt)- page 3 2. The Council of ManagerrnYS perfOrnn report- page 4 3. Independent Examinèrfs report- page 5 4. Statement of financial a¢tNities {nlrkatin9 an income and expenditure account)- page 6 5. Balance Sheet- page 7 6. Notes lo the financial slalerrEnts- pages 8- 12 Structure, Governance and Management The organi5alion is a Gharilable company limited by gLEarantee. incorporated on 11 July 1969 and subsequently registered as a chanty on 14 January 1970. The company was estsblished under a Memorandum of Assouakn"on which established the objects and powers of the charitable company ano is govemed under rts Articles of Association Un¢Jer those artieles the members of the Management Committee (being the trustees, and also directors under company lawl are limited to seven in number and are elected on an annual basis al the Annual General Meeting of the company. Recruitment and Training of Trustees As sel out in the Articles of Asscriation the ManageN*nt Coryunittee may from time to time and at any lime appoint a member OF the charity to Ihe Management Committee. esther to fill a vacancy or by of addition to the Counal, provided that the preribed maximum is not exceeded. Any member so appointe(I shall ietain Ote onty until the next Annual General Meeling but shall then tk eligible for election. Prospects"ve Iruslees nomialty attend Council meetings lo nwt their future fellow Iru51ee5. They are briefed on their legal obligations under charity and company law and the content of the Memrandum and Articles of Association. Reference and Adminlstratlve Inforniation Members of the Manag•ment Commlttee on the date the veport was approved: Mrs A Stanhope - Chair Mf J M Q Stanhope Ms E A Stanhope Mr F N C Ranson Mr C C Cater Mrs J C Humphreys Secretary Mr J M Q Stanhope
Penrhyn New Hall Limited. Trustees, Annual Report year ended 31 March 2024 Reglstered Offi¢e and Operation Addres8 Penrhyn New Hall. Hartsville Avenue. Penrhyn Bay. Llandudno. Accountants Breeze & Co (Llandudnoi Ltd., 9 Lloyd StreeL Llandu(Jno. Bankers N8tion81 Westminster pl¢., 62 Mostyn Street, Llandudno. Soll¢btors Farrer & Co., 66 Llncoln's Inn Fleld. London. Objectives and Activltse$ Penrhyn New Hall Ltd is a chantable company e8tsblish8d for the promotion of temperance {in tho wider meaning$} for the Inhabitants of Penrhyn Bay ano Llandudno. Thesè objectives are achieved Ihrough the medium of a oynrnun centre providing facilrties for the use of local Inhabilanls lo loll¢)w recreational and leisure tim8 c¢cupations in the interest of social welfare with the obje¢l ol improving the conditions of life for the persons for whom they are intended. When planning activit. the Tfuslees gNe regard to the Charity Commission's 9dance on publi¢ benefit. Flnanclal revlew The Management Commrttee Ih8nk the Chair of Trusteas for her oveNiew of financial actNilies and flnanclal posllion al the end of the year. We have Included her warate report as part ol this document. Règerves pollcy The management committee have established a p)licy thai stimulates sustained growih in the structure of total lunds held by the charity. The over-riding obiectrve is to ensLtre Ihat tho Charlty is able lo continue in operkn'on in the long lerm. Funds are unfesln.cted subject to cashflow needs and all expenditure above £5,000 must be agreed by a majority of the management comrnittee. Investment pollcy The management eommittéÈ has consKlered the most appropriale policy for investing fijnds and have decided that a programme of dNor¥ifi¢*ion shoukj be established in the lutyre with the vi¢w to inGreasing the capital value ol the InvesthRnl portfolh? currenuy held by lh8 company. Risk rgview The mana9emenl (tjmmittee has conducted Its own revlew of the ror risks lo whlch th8 ¢h8rtty 15 exposed and systems have been established lo mitigate those fisks. The development of systems and procedures lo ensure the consislent quality of dolivery lor all opetalional aspects of the company has proved sU$s1u1. These systems and procedurgs are reviewed periodically lo ensura that they still meat th8 nèèds of the Charity.
Penrhyn New Hall Lirniled, Trustees. Annual Report year ended 31 Match 2024 Statement of Responslbllltle8 of the Management Commlttea Company law requires the Management Commrttee lo prepare financial ststements for each financial year which give a true and fair view of Ihe state of the affairs of the charitable company and of the Incomlng resources and appitsoon ol fasources, InYalng me Income an¢J expenditure, or charitable Gompany for that penod. In preparing lISe financial slaten*nts the Managoment Cornmitt8e arè Tequired to.. Select suitable accounting policies and then appty them consistenlty,. Observe the methods and principles in the Charities SORP: Make judgements and estsmales that are reasonable and prudent stste whether applicable UK Accounting Standards and statements of recommended practi have been followed. subject to any material departures di8cIo8ed and explained in the financial slalements., and Prepare the financol statements on the going concem basis unless it is inappropriate to presume that the company will tonlinue in operabon. The members of the Management Comnmttee are reSp)nsIb for keeping proper accounting records which di10$8 with reasonable acGuraGy al any the finanal posillon of the charitable company and lo enable them to ensure that the financbal statements compty wrth the Companies Act 2006. They are also rgsponsible for safeguarding tho assets of the company and for taking reasonable steps for the pr8ventlon and delecM)n of fraud and other Irregularities. In 80 lar as the Trustees are aware.. Thgrg is no relovanl Snlomitititin of whh the charity's independent examiner is unaware., and The Trustees have taken all steps that they ought lo have taken to make Ihemselves awa of any relevant infomwtlon and to establish that the independent éxaminer is aware of that infonmation. This report has been prepar8d in a¢cordan¢e with the Statement of Récomm8ndgd Pra¢lice- Accounting and Reportrng by Charitias and in accordance with the special provisions ol Part 15 of the Companies Act 2008 applieablg lo companies subj1 to the small companies regime. Members of the charitablg company guarantee to contribute 8n amount not exceeding £1 to th assets of the charitable company In the event of winding up. The total number of guarantees at 31 March 2024 was 717 in 2023). 2024. J M Q Stsnhope Secretary
Penrhyn New Hall Limited. Trustees, Annual Report yeaf ended 31 March 2024 The Council of Management's Performance Report The past 1ve ftM)nths at Penthyn New Hall have followe(I the usual pattern. Our fegulai'userf groups- The Bridge Club, Yoga, Young Persons Dancè and Performing Arts and Theatre groups continije to make full use of our facility and the Ttusl ts rn0 grateftjl br this patronage. We a aayS glad lo altFact and retain new clients and we are delighled Bangor University classes to promote Welsh Leaming. have proved very successful and were continued into the Summer and beyond. The Penrhyn New Hall Bowling Club, now rebranded as a memberfs 'soctal b¢Ing club. with a simplified structure of Chair, Captain and Secrelary proved to be a SucsS and due to the hard work of it's enthusiastic membership has prospered this year. The fvture looking much brighter and the Trust looks foar[l lo conts"nuing to work with the new sel up. TRUSTEES: The year saw no changes to our Trustee team. who Wofk quieuy and efficiently in the background and are there lo supplement the work of our Chairperson, when Called upon for advice. TURNING to tho ACCOUNTS: Rental income saw a welcome increase of £3.465 due in part to revised hire charyes and addition sales, which produced an uplift of arounty 33% on the previous yearfs turnover. The overall operating Irading deficit being £15.$08.00. for the peri¢)d. Carefvl Gonlrol across all aspecls the iterns comprising'expendiluie. which year on year follow a remarkabty similar pattern of cost, eftsure an OLslcome that produces no 'black holès.. The unknown factor being when repairs and renewals or ewntial maintenance items occur in the financial year and not bud9eted for. Fortunatety, our planned energy costs have been well contained through rkegob.ated supply contr8cts and the previous improvements rnade to heating an¢J lightt'ng sources in the Hall. It is quite obvious from the accounts. the degree to which our Investment Inco generated by our portfolio, continues lo act as the mainstay of our abilty to fund oyr trading deficit and minimise rental charges 10 oul patrons. This firsancial year rt Ptoduwj £19,587 of income. In order lo maintain this level of return on the ovefall sum invested. a careftjl balance hag lo be stnjck to maintain the % incrjme return of individual asset types. weighad aganst the risk factor of the type of investment and the potential for ¢aprtal gain, lo prot¢ and i¢Jealty 9row the overall portfolio value. Regular conversations with our Portfolio Manager take place to achieve this aim. In the financtal year 2023124. when making the calcukqtion for Profft l Loss on annual revaluation of the portfolio lan accounting rUireMNE1. a loss of £10.909.(KJ is shown. The overall deficit (Nel movement in funds) for Ihis financial year per the xcounts is £9,365.00 ngL Anne Stanhope Chair of T$t. Dat•d 2024.
Penrhyn New Hall Limited. Trustees. Annual Report year eThJed 31 March 2024 Independent Examiner's report on the accounts ReF)Ort to th8 trusteesldireclorsl memters ot. Penrhyn New Hall Limited Charity no.: 260371 Company no.: 00958549 On accounts for the year ended 31 March 2023 as set out on Daoes.. 6-12 Respectlve r08ponslbilttl of trustèes and examlner The Iruslees (who are also the directors of the Company for tho purposes of company lawl a responsible for the preparation of the a¢vn. The charity's truslees consider that an audit is not required for this year undet section 144 of the Charilies Act 2011 (the Charities Acll and that an independent examination is needed. It is my responsibility to_. examine the accounts urKler section 145 of the Charities Ac( lo follow Ihe procedures lald down In thè general Direcb"ons glvén by the Charty Commission lunder sectlon f4515llbl of the Charrties Act, and to State whethor partKular matters have GIMr to my attentn. 8asl8 ol Independent •xamlnef8 Statement My examinatson was carried out in accordance with gemral DirKtions given by ihe Charity Cornmission. An examination includes a review ol the accounting records kept by the Gharity and a comparison of the antS presented with Ihose records. 11 also includes consideration of any unusual items or disclosures in the accounts and seeking explanalions from the trustees concerning any suGh matters. The procedures undertaken do not provKle all the eVence that would be r$quired in an audit. and consequently no opinion is gNen as lo whether the accounts present a 'lfue and fair, vlew and the report 18 limited to Ih08e mattérs sel out in the Jtatem8nt b?bw. Indgp•ndgnt •xamlner'8 ststemont In connection with my examination. no matter has come to ry attention to indl¢ate th81'. aocounling records have not bfr8n kept in a¢wr(la with seGb'on 386 of ihe Companies Act 2006., thè accounts do not a¢¢ord with such record$'. where accounts are pPared on an accruals basis. whether they lall to mplY with relevant accounting requirements under wtion 396 of the Companies Act 2006. or are not (xjnsislenl with th• Choritieg SORP IFRS102) any matter which the examiner believes should be drwwn lo the attents'on of the ader to gain proper understanding of the acccHJnts. M D Evans FCA Breeze & Co Chartered AGGountants g Lloyd Street, Llandudno. Corwy LL30 2UU
Penrhyn New Hall Limited Charity Number: 260371 Company Number: 00958549 Statement of financlal actlvities (including summary income and expondltufe account) for the year ended 31 March 2024 Total Unrestrlcted Fund• 2024 Total Unrestrlcted Funds 2023 Notes Income from: Charitable aclivilies.. Charges for hire of hall Rental of sweet bfl8r8 Donation Tol81 incom8 fmm ch8rtlabl8 ach'vltsès 13.995 2,691 10.530 2.604 16,686 13.134 Income from investments Istocks and shares) (Lossl on sale of Investments Islocks and shares) Interest received 19,587 -2,935 400 19.462 .200 164 Total In¢om• 32,560 ExpgndSture Charitablé •xpentJilur• Management and adminlgtr8tbn 28,298 3.896 29.702 2.806 Totil •xp•ndSturn 32,194 32.S08 Net Incomo for the yoar Not gains Ilossesl on investments Net Incomellexpendlture 52 -10,909 -9,365 -37.331 Net movement In fund8 -9,365 -37.331 Rèconciliation of fund$: Total funds brought lOard Total funds carrled forward 387,922 378.557 425,253 387 922
Penrhyn New Hall Llmlted Balance Sheet as at 31 March 2024 Notss 2024 2Q23 Flxed assets Tangible assets Investments Ttstsl fixed assets 16.613 346,802 363,415 17.666 342.234 359.900 Current assets Debtors and prepayments Cash at bank and in hand Total current assets 2,700 18,202 20.902 1,820 31,484 33.304 Credito Amounts falling due wihin one year Net current assets 5,610 5.132 15,292 28,172 Total assets less current Ilabilltie8 378.707 388,072 Crèditots Amounts falling due after more than one year Total net assets 150 378.557 150 387,922 Funds of the charty UreStrted fund5 378,557 387,922 The company was entW to exemption from audit under s477 of the Companies Act 20( relating lo small eompanies_ The members have not required the company to obtain an audrf( in aco)rdanee with section 476 of the Companie5 Act 2(KX8. The dire¢tors acknovAedge their responsibilltyes for MYIng with the requtrements of the Companies Act spect to accountln9 reGords and the PParatiOn of accounts. These accounts have been prepared tn accordance wth the provistons applicablè to small companies subject lo the small companies regime and in 2¢¢0rdance with FRS102 SORP. The Directors have approved these a(tounts and they are signed by *Jne director on behalf of all th¢ DireGtors 2024 Zblii A gtanhtspo '. SignabJre of director authenticating a¢counts b8ing sent to Companies Hous8 2024 Cccater: 281,, |2JLY
Penrhyn New Hall Limlted Notes to the accounts For the year ended 31 March 2024 Accountlng pollcies 1.1 Basis of preparatlon These accounts have been prepared LFnder the histori cost convention items recognised al cost or transaction value unless otherwise stated in the relevant rK)tels) lo these accounts. The accounts have been prepared in accordance with.. the Stslement of Recommended Prackn.. AjJnting and Rewtting by Charities preparFng their accounts in accordance with the Financial Repong Standard applble in the UK and Republic of Ireland IFRS 1021 issued on 16 Juty 2014. and with thè Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. and with the charities acl 2011. The ¢harty conslillrtes a public benefft entity as defined by FRS 102. 1.2 Income ReGognition of incomg These are Included in the Statement of FinancAal Activities ISoFA} when.. the charity becomes entitled to the resour(Es'. it is MO Ihall likely than not that Ihe trustees will recetve the resources.. the monetary value can be measured with sufficient reliath"lity. Offsetting There has been no offsetting of assets and liabdibes, or income and expenses. unless required or pemrtted by the FRS 102 SORP or FRS 102. Income from interest and dlvidends This is included in the accounts when re¢eFpt is probable and the amount receivable can be measurèd reliably. Invostmontgains and loss•s This includes any alISed or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments trj market value al the end of the year.
Penrhyn New Hall Limited Notes to the a¢counts For the year ended 31 March 2024 1.3 Expgndlturg and Ilabllltlos Liability r8cognition Liabilities are recognised where il ts MO likely than not that there is a al or constructive obligatio committing the charrty to pay out rE50urces and the amount of the oblKJab"on can be measured wth reasonable rtainty. Deferred income No material item of fJeferred ino)rne has been included in the accounts. Crèditors The charity has credilors which are measured al settlement amounts any trade diswLtnts. 1.4 Assets Tangible fixed assets for use by the Charlty These are capitalised and valued at cost rf they can be used for more than one year. Depreciation is provided at Ihe followirKJ rates in order lo vffite off the assets over their ests"maled Freehold land Freehold Iiuildings over 50 years FixtiJres and fflts'ng$ 15% per annum of net k value Investm¢nts Fixed asset investments in quoted shares. traded bonds and similar investrnènts arè valuèd inrtialty al cost and subsequentty at fair valLte {their matket valuel al the year end. The same treatrnenl is applied to unlisted investments unless fair value cannot be measured reliabty in which case it is measured al cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents wth a maturity dale of less than 1 year are Ireated as curreftl asset investrnenb. Debto Debtors (including trade debtors and loans receFvablel are measured on initial recOgnon at settlement amount after any trade discounts or amount advanced by the tharity. Subsequently, they are measured 8t the cash or other consideralh)n exted io te recewed.
Penrhyn New Hall Llmitèd Notes to the accounts For the year endèd 31 March 2024 2024 2023 Expenditure Nots8 2.1 Charitablè exponditur• Paid employees Water rates Light and heat Insurances Repairs and malntenance Garden maintenance Cleaning 20,250 18.283 154 1.808 2.904 5,780 2,112 2.871 2.397 175 127 28.298 83 29.702 2.2 Management and admlnlstrntlon Stationery and advertisin9 Accountancy Independent examinatn lee Legal eharges LIGeThS Filing fees 0*pCiall0n Bank Charges 17 570 570 50 269 13 1.192 125 570 570 1,503 187 13 1.053 3.898 Total •xp?ndlture 32,194 32,508 2.3 staff costs and numb•rn Wages and salaries SorAal Security costs staff pensk 19,842 18,018 408 20.250 265 18,283 This excludes the management committee who recelve no rernuneratn 2024 2023 no. The average numtér of persons wnployed durtng year was.. no. Administration Taxatlon The ch8ritable company is exempt from tsx on fts charitable incomè. 10
Penrhyn New Hall Limlted Notes to thè a¢counts For the year ended 31 March 2024 Tanglble flx•d assgts Freehold land Ftxturey and buildings and fittings Total Cost Al 1 April 2023 Additions At 31 March 2024 17.500 14.943 32,443 17,500 14 943 32,443 Depr¢¢latlon Al 1 April 2022 Charge for the year Al 31 March 2023 5,073 267 9,704 14.777 1,053 10.49) Net book value Al 31 March 2023 12,100 4,453 16,613 Al 31 March 2022 12.427 17,e66 Freehold land included abjve Is not depr8ciated 2024 2023 Investm•nt• Ll$tod Stocks •nd shar•s Fair value al the beginnlng of the pei*)d Additions lo investments during Ihe penod Disposals at carrying valuè Unrealised gain I loss on revaluation Market value of investments at 31 March 342,234 70,608 -55,131 -10,909 346,802 368.827 31,601 -20,200 -37,994 342,234 D•btov• Debtors Prepayments 1,250 1,450 2,700 400 1,420 1,820 Gredltorn: amounts fallina duo wlthln ong year Sundry credllors and acwed expenses 5.610 5.132 Creditor5: amounts falling du9 aftor on• year UnseCud interest free loans from dmdua 150 150 11
Penrhyn New Hall Limited Notes to the accounts For the year ended 31 March 2024 2024 2023 Movement in funds Tot31 funds at 1 April 2022 Deficivsurplus lor the year Total funds al 31 March 2023 387,922 -9,365 378,557 425.263 -37,331 387,922 I the net assets are dassilio¢1 as unrestricted. 12