FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH 2025 FOR THE PERCY DAVIES INSTITIJTION Vaughan l Bennell, Accomnlant 47 Oakfield Drive Crickhowell Powys NP8 JDR THE PERCY DAVIES INSTITUTION (Reg.Charity No 505360) Tru5tees' Annual Report for the year ending 31" March 2025 Principal Address: Queen Coffee TavenL Beaufort Street Crickhowell Trustees who managed the charity during the period Ivere:. Mrs A.Charnberlain (Co-opted) Mr P Evans (Crickhowell Town Council) Mr K Miles ((Co-opted) Mr H Morgans (Co-opted) Cllr Mrs A Jeremiah (Crickhowell Town Council) (Treasurer) Rev.Rana Khan (Ex-officio) Ms E Wigz¢ll (Chair) Mr F Ady (Co-opted) Secretary: Mrs S Jeremiah Advisors: Accountant: Vaughan Bennett. Crickhowell Structure? governance and management The charity was set up under a codicil to the will of Mrs Percy Davies, dated June 1900. The charity IS constituted under a trust. Trustees are co-opted on to the Board with the exception of Crickhowell Town Council appointees and the incumbent of the Parish Church of Crickhow¢ll. Objects of the Charity To provide financial aid for the gFood and benefit of the inhabitants in the town of Crickhowell. Activities The maintenance of the proFrrty known as 'Queen's Coffee Tavern, and the receipt of rental income. The receipt of investment income from a stocks and shares portfolio managed by Rowan Dartington, brokers. The disbursement of grants (in accordance with the Coth'cil of Mrs Percy Davies, s will) to organisations whose activities benefit the town of Crickhowell. Achievements during the year St The Charity paid seven grants to local organisations in the 12 months to 31 March 2025. This is an improvement on the previous year when only three g>rants were rnade. With the uncertainty over the renewal of the lease with Red Cross It has still been considered prudent to retain most funds until the outcorne of negotiations are finalised. The value of the Investment tx)rtfolio appreciated by £6,728 on the previous year. The portfolio has increased in value by 1.79 % and it was agreed to maintain the current risk strategy for the present. Mrs Sarah Jeremiah continues to act as secretary for the Trust. Signed on behalf of the charity's trustees Chairnian June 2025 INDEPEIYDENT EXAMINER'S REPORT TO THE TRUSTKES OF THE PERCY DAVIES INSTITUTION I report on the accounts of the Percy Davies Institution for the year ended 31 March 2025, which are set out on the following pages. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 201 I (the 201 l Act) and that an independent examination is needed. It is my resw)nsibility to: Examine the accounts (under section 145 of the 201 l Act). To follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and To state whether particular matters have c4)me to my attention. Basis of independent examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts,and seekinbi explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is gyiven as to whether the accounts present a 'true and fair view and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention.. which gives me reasonable cause to believe that in any material the requirements to keep accounting records in accordance with section 130 of the 201 J Act. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 201 l Act. have not been met. or 2. to which in my opinion, attention should k drawn in order to enable a proper understanding of the accounts to be reached. Vaug an lan B¢nnctt, Accountant 47 Oakficld Drive Crickhowell powys NP8 IDR June 2025 PERCY DAVIES INSTITUTION Balance Sheet as at 31st March 2025 2025 2024 FIXED ASSETS Tangible Assets Freehold Property - Queen Coffee Tavern 220,000 Share Portfolio Cal Rowan Dartington 382,314 37.5,SIIC) 602,314 CURRENT ASSETS Funds at Rowan Dartington Prepayments Current Account 35 day Deposit Account 8,556 240 23.945 26,943 8,619 24(1 44,2611 59,684 Cr¢ditors:amounts falling due within one year Accrwals and Rent Received in Advance Rent Refundable (Not¢ 7) 4,749 1,700 ,7111) 6,449 2,720 Net Current Assets 53,235 50,391) NET ASSETS £655,549 £645,C)85 FUNDS OF THE CHARITY Restricted Incom¢ Funds £655,549 £64.S,1)84 Signed by two trnstees on behalf of all the trustees Approved on 19th June 2025 PERCY DAVTES INSTITUTION Statement of Financial Activites for the Year Ended 31st March 2025 Note 2025 2024 Incoming Resources Incoming resources from generating funds:_ Investment Income 8.519 7,844 Income resources from cbaritable activities 17.700 17,7n(I Total Incoming Resources £26,219 £2S,S44 Resources Expended Costs of Generating Funds Investment Management Costs 6,036 Charitsble Expenditure 12.180 2,3(I8 Governance Costs 1,634 9.$11 Total Resources Expended £19,850 £l),[174 Net Incoming resources before other recognised gainsl(losses) 6,369 11Tr,471) Profitl(Loss) on valuation of investment assets 3,195 911,8(p I Net Movement in Funds 9,564 37,331 Total Funds brought fonvard 645,985 1Tr1)8,()54 Total Funds Carried Forward £655,549 £645,98 PERCY DAVIES INSTITUTION NOTES TO THE FINANCIAL STATEMENTS Year Ended 31st March 2025 2025 2(124 Inve5tmenl Incojne Dep051t Account tnterest Received Dividends 444 8,075 .844 £8519 £;,844 Ineome ￿sOurCeS from tharitvdble aetivities Red Cross Rent Receivable 17,7(K) Investment Management Costs Investment Costs- Rowan Dartington Propety Management . M4 4,606 .430 4.J16 1.440 £6.036 ChAritAble Expenditu Donations:. Crickhowell Parish Ha]1 Crickhowell Resource & Information Centre Friends & Family of c.rick CP School Llangattock Community Hall LlagattrKk Community W(x)dlands Llan8attock Litter Pickers Market Ha]1 Trust Crickhowell Players (Pantomime) Totally iAxally 750 430 4,000 1,500 () .494 4.000 274 1,000 £12.180 £2J68 Governance Costs se¢￿tarIa1 Honararium Att￿dAnce Allowance Accountancy Web Site Management Room Hire Postage & Statsonery Subscriptions 300 75 300 775 48 Joo 31111 22 36 Jl) £1,634 £9q Gainsl(L4sses) on Revaluation of investments held by Rowan Dartington £3,195 £20,861 At the year