**REGISTERED COMPANY NUMBER: 01344364 (England and Wales) REGISTERED CHARITY NUMBER: 507153**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for
The Bardsey Island Trust Limited
Gwyn Thomas and Co Limited 1 Thomas Buildings New Street Pwllheli Gwynedd LL53 5HH
The Bardsey Island Trust Limited
Contents of the Financial Statements for the Year Ended 31 December 2023
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|6|
|Independent Examiner's Report||7||
|Statement of Financial Activities||8||
|Balance Sheet|9|to|10|
|Notes to the Financial Statements|11|to|17|
|Detailed Statement of Financial Activities|18|to|19|
The Bardsey Island Trust Limited
## Report of the Trustees for the Year Ended 31 December 2023
The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report together with the financial statements of The Bardsey Island Trust Limited (the "Trust") 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 charity's vision is to be an exemplar of Welsh island life, that supports a vibrant island community, economy and healthy ecology. Its objectives to deliver this vision are as follows:
1. To support a community of residents engaged in rural enterprises.
2. To protect and enhance a range of characteristic habitats that support diverse and typical wildlife, which are maintained in favourable condition through appropriate management.
3. To honour, celebrate, explore and share the Welsh language, natural and living heritage, culture and spirituality of the island.
4. To ensure that the built landscape and infrastructure are sensitively maintained and developed whilst preserving the sense of place.
5. To minimise impact on the environment with responsible management and stewardship.
6. To provide an excellent visitor experience.
7. To encourage and enable people, and in particular the young people, of Wales to visit the island when access is possible.
8. To ensure funding for the Trust and generate alternative income streams, enabling the Trust to meet its objectives.
The Trust can only achieve these objectives through the generous support of members, benefactors and volunteers, whose significant contribution is gratefully acknowledged. The Trust would like to pay particular tribute to:
a) All those who gave generous donations in 2023, and to those who gave in their legacies to support the Trust's work.
b) To all volunteers who sit on the Trust's committees providing their expertise to support its aims as well as the many volunteers who give their time and energy volunteering on Enlli supporting the wardens in their work.
The Trust would also like to thank the Architectural Heritage Fund, Gwynedd Council's Area of Outstanding Natural Beauty programme and Natural Resources Wales for their support throughout 2023.
A particular thanks to the residents of Enlli as well as the staff and contractors who have delivered so much of the Trust's work during 2023.
Page 1
The Bardsey Island Trust Limited
for the Year Ended 31 December 2023
## Report of the Trustees
## **OBJECTIVES AND ACTIVITIES**
## **Public benefit**
The Trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning its future activities. The Trust continues to seek to maintain Enlli as a living community, visited, enjoyed and appreciated by as many people as possible, whilst protecting and preserving the designated nature conservation features and historical, archeological and religious sites.
## **Significant activities in 2023**
The Trust has continued to fulfil its objectives during 2023. The Trust's core business remains the provision of accommodation to paying guests while respecting the natural and living heritage, culture and spirituality of Enlli and, once again, holiday lettings were at a maximum.
The Trust's paying daily or weekly visitors contribute to the maintenance of rural enterprise on the island. Moreover, the Trust has continued to work with and support the other long-term residents of the island, as well as the regular boat service, in supporting these operations wherever possible.
During 2023, the Trust has entered into a long-term relationship with Natural Resources Wales by way of a section 16 Environment (Wales) Act agreement. A first step to implement the agreement was undertaken through the appointment of consultants charged with the preparation of a nature conservation management plan, due to be finalized in early 2025. Helped by Natural Resources Wales' funding, the Trust will thus be able to work to maintain a high level of nature conservation on Enlli.
Over the summer months, the Storws building was entirely renovated. This iconic building, which greets visitors on their arrival on Enlli, had become extremely dilapidated; its renovation was made possible due to funding provided by the Architectural Heritage Fund and the Area for Outstanding Natural Beauty. Further funding was also granted in the autumn by the National Heritage Lottery Fund. These monies will be used to create two part time jobs as well as further develop the Trust's activities on Enlli.
Spirituality remains important. The chaplaincy programme was again successful and bookings have already been taken for the 2024 season. Two retreats were organized during the year, good feedback was received from both and further are planned for 2024.
The Trust seeks to minimize the environmental impact of its activities. Unfortunately, the possibility of benefitting from Nova Innovation's tidal energy scheme in the Bardsey Sound was put on hold in early 2023. However, in playing its part, the Trust doubled the electrical output from its established solar array at Ty Bach to supply electricity to adjacent properties.
Providing information to stakeholders and visitors is an important aspect of the Trust's operations. After much hard work Enlli was awarded "Dark Sky Sanctuary" status early in 2023, joining only 16 other sites worldwide
and being the first in Europe. Having achieved this status, the Trust will work to protect the Enlli dark skies and promote their importance, both locally and nationally, and enhance the island visitor experience. The Trust also took advantage of the Boduan Eisteddfod to promote its activities via a series of dedicated events, as well as the week-long presence of staff and trustees, at a stand highlighting its activities.
Finally, the Trust's 2023 Annual General Meeting was held on 20 May. Talks were given by Dianne Charles, Chair of the Bardsey Bird and Field Observatory, and Ben Porter of Ben Porter Photography on the history of the Observatory and the impact of light on seabirds' nocturnal flight patterns.
## **Future plans**
The Trust recognizes the enormous challenge of maintaining and improving its properties. In addition, the need to ensure that the island retains its unique Welsh, natural, cultural and spiritual character while permitting environmentally and economically sustainable development. To achieve these ends the Trust will seek additional funding as well as ensuring that its staffing levels permit development to continue.
Page 2
The Bardsey Island Trust Limited
## Report of the Trustees
## for the Year Ended 31 December 2023
## **FINANCIAL REVIEW**
## **Financial position**
During 2023 the Trust incurred an excess of expenditure over income due to its contribution to the Storws renovation, general repairs and maintenance as well as increased staffing costs. Grant income was received from a number of sources and used to fund the Storws as well as support the tenant farmer in his land management and conservation activities. Moreover, during the year, the Trust achieved revaluation gains on its investments due to an improved stock market performance. Finally, at 31 December 2023 the Trust was fortunate to have reasonable bank balances, collectible debtors and few liabilities.
## **Reserves policy**
The Trust's reserves policy is to hold sufficient unrestricted funds to meet day to day running costs for the year ahead as well as making allowance for the timing of the receipt of grant monies. Monetary details of the Trust's funds are shown in note 15.
## Unrestricted funds
These are funds not designated by the Trustees for any particular purpose.
a) General - represents net income from on-going operations;
b) Spirituality - represents income and expense related to spiritual activities
## Restricted funds
These are funds subject to restrictions imposed by the donor and a capital equipment reserve to cover the depreciation on major capital items and those grant aided:
a) Revaluation - unrealized gains on investments;
b) Carreg Mawr Murals - to cover restoration work on the Brenda Chamberlain murals and Carreg Fawr;
c) Funded Equipment - to cover the depreciation of grant aided assets. As the related assets were fully depreciated during the year, the remaining balance has been released.
d) Endowment - initial appeal funds plus realized gains on investments.
## **Investment policy and objectives**
Under the Memorandum and articles of association, the Trust has the power to invest broadly. A cautious and increasingly sustainable investment approach is taken. Investments other than a long-term bank deposit comprise a Quilter Multifunds Collective Investment Account in a range of corporate bonds and equity backed investments together with an Aviva investment portfolio .
Investments are made on a long-term basis to ensure future financial viability.
The Trust's financial advisor, Element FPM Ltd, provides financial advice as required.
## **Risk Management**
The Trust has established an organisational risk register which is reviewed by the Council on an annual basis .
In addition, Trustees consider health and safety issues at each Council meeting . Paths, tracks and stiles are regularly checked and maintained and there is a detailed review of all the buildings in the spring and autumn .
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Trust is constituted as a company limited by guarantee and is a registered charity. It is governed by its Memorandum of Association dated 24 November 1977; its current Articles of Association, setting out an updated constitution were adopted in 2019.
Members numbered 472 at 31 December 2023 (422 at 31 December 2022). Every member in the event of the Trust being wound up undertakes to contribute to any liabilities up to a maximum of £1.
Page 3
The Bardsey Island Trust Limited
for the Year Ended 31 December 2023
## Report of the Trustees
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
All members are invited to nominate new Trustees prior to the Annual General Meeting. Selective advertising of vacancies is also undertaken. Trustees are appointed for a period of four years and no person may serve more than eight consecutive years unless at each successive election thereafter they are nominated by twelve members or one per cent of membership, whichever is the greater, and 75% of fellow directors.
## **Organisational structure**
The Trust's affairs are managed by a Council comprising all Trustees which is scheduled to meet four times a year. Day to day management is ensured by an Executive Committee.
In addition, five Committees (comprising Trustees and volunteers) report to the Council as well as the Executive Committee: these are the Buildings; Culture,Heritage and Interpretation; Health and Safety; Scientific and Spirituality Committees.
Page 4
The Bardsey Island Trust Limited
for the Year Ended 31 December 2023
## Report of the Trustees
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
01344364 (England and Wales)
**Registered Charity number** 507153
## **Registered office**
The Port House Port Penrhyn Bangor Gwynedd LL57 4HN
## **Trustees**
R Gritten (resigned 8 March 2023) E Gruffydd (resigned 20 May 2023) H E Wilcox The Revd C R W Townsend J Hughes Jones E Parry (resigned 20 May 2023) S M Stacey (Chair) A Guile (resigned 20 May 2023) L Williams A J Tyne A E Jones D Morgan G P D Owen S Purdon
## **Company Secretary**
I Harris
## **Solicitors**
Carter Vincent LLP The Port House Port Penrhyn Bangor LL57 4HN
## **Financial Advisers**
Element FPM Ltd 24 Green Meadows Hawarden Flintshire CH5 3SL
Page 5
The Bardsey Island Trust Limited
for the Year Ended 31 December 2023
## Report of the Trustees
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The Trustees (who are also directors of The Bardsey Island Trust Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of The Bardsey Island Trust Limited and of the incoming resources and application of resources, including the income and expenditure for that period. In preparing these financial statements, the Trustees are required to:
a) select suitable accounting policies and apply them consistently;
b) observe the methods and principles in the Charities' Statement of Recommended Practice;
c) make judgments and estimates that are reasonable and prudent;
d) state whether applicable UK accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
e) prepare the accounts on a going concern basis unless it is inappropriate to presume that The Bardsey Island Trust Limited will continue in business.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of The Bardsey Island Trust Limited and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of The Bardsey Island Trust Limited and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the Trust Council on 18 May 2024 and signed on its behalf by:
S M Stacey - Trustee
Page 6
Independent Examiner's Report to the Trustees of The Bardsey Island Trust Limited
## **Independent examiner's report to the trustees of The Bardsey Island Trust Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Gwyn Trewren Thomas The Institute of Chartered Accountants in England and Wales
Gwyn Thomas and Co Limited 1 Thomas Buildings New Street Pwllheli Gwynedd LL53 5HH
10 June 2024
Page 7
The Bardsey Island Trust Limited
## Statement of Financial Activities for the Year Ended 31 December 2023
|Unrestricted
funds
Notes
£
**INCOME AND**
**ENDOWMENTS FROM**
Donations and legacies
2
205,361
**Charitable activities**
4
Access and accommodation
147,984
Investment income
3
3,139
Other income
-
**Total**
356,484
**EXPENDITURE ON**
**Charitable activities**
5
Access and accommodation
413,143
Net gains/(losses) on
investments
-
**NET**
**INCOME/(EXPENDITURE)**
(56,659)
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
258,293
**TOTAL FUNDS CARRIED**
**FORWARD**
201,634|Restricted
Endowment
funds
fund
£
£
-
-
-
-
-
-
-
-
-
-
8,054
-
20,694
-
12,640
-
91,664
241,200
104,304
241,200|31.12.23
31.12.22
Total
Total
funds
funds
£
£
205,361
85,865
147,984
137,602
3,139
526
-
3,750
356,484
227,743
421,197
164,145
20,694
(26,999)
(44,019)
36,599
591,157
554,558
547,138
591,157|
|---|---|---|
The notes form part of these financial statements
Page 8
The Bardsey Island Trust Limited
## Balance Sheet
## 31 December 2023
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
10
17,161
Investments
11
-
17,161
**CURRENT ASSETS**
Stocks
12
300
Debtors
13
86,381
Cash at bank
255,610
342,291
**CREDITORS**
Amounts falling due within one
year
14
(157,818)
**NET CURRENT ASSETS**
184,473
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
201,634
**NET ASSETS**
201,634
**FUNDS**
15
Unrestricted funds
Restricted funds
Endowment funds
**TOTAL FUNDS**|Restricted
Endowment
funds
fund
£
£
-
101,000
99,548
123,000
99,548
224,000
-
-
-
-
4,756
17,200
4,756
17,200
-
-
4,756
17,200
104,304
241,200
104,304
241,200|31.12.23
Total
funds
£
118,161
222,548
340,709
300
86,381
277,566
364,247
(157,818)
206,429
547,138
547,138
201,634
104,304
241,200
547,138|31.12.22
Total
funds
£
129,502
201,854
331,356
300
87,546
284,426
372,272
(112,471)
259,801
591,157
591,157
258,293
91,664
241,200
591,157|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 9
The Bardsey Island Trust Limited
## Balance Sheet - continued 31 December 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 May 2024 and were signed on its behalf by:
S M Stacey - Trustee
The notes form part of these financial statements
Page 10
The Bardsey Island Trust Limited
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 charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the Trust 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 Trust 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.
Plant and machinery
- 20% on cost
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The Trust is exempt from corporation 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 Trust.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 Trustees' Report.
continued...
Page 11
The Bardsey Island Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
|**2.**
**DONATIONS AND LEGACIES**
Donations
Gift aid
Subscriptions
Fees for filming
Natural Resources Wales
Area of Outstanding Natural Beauty
Cyngor Gwynedd
Wales Council for Voluntary Action
Architectural Heritage
**3.**
**INVESTMENT INCOME**
Interest received
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Letting
Access and accommodation
Boat licence
Access and accommodation
Sale of Enlli merchandise
Access and accommodation
Rent of farm and other
properties
Access and accommodation
**5.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs
£
Access and accommodation
340,478|31.12.23
£
4,020
6,665
13,026
2,450
101,477
30,000
-
-
47,723
205,361
31.12.23
£
3,139
31.12.23
£
109,563
10,253
7,570
20,598
147,984
Support
costs (see
note 6)
£
80,719|31.12.22
£
2,983
-
16,673
4,600
-
-
12,254
49,355
-|
|---|---|---|
|||85,865|
|||31.12.22
£
526
31.12.22
£
99,094
10,526
7,193
20,789|
|||137,602|
|||Totals
£
421,197|
continued...
Page 12
The Bardsey Island Trust Limited
## Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **6. SUPPORT COSTS**
|Management
£
Access and accommodation
74,921
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Deficit on disposal of fixed assets|Governance
Finance
costs
Totals
£
£
£
4,798
1,000
80,719
31.12.23
31.12.22
£
£
6,498
6,708
11,487
-|Totals
£
80,719|
|---|---|---|
## **7. NET INCOME/(EXPENDITURE)**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There was no Trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
Travel expenses were paid to the following Trustees - S M Stacey £0 in 2023 (£63 in 2022 ) and S Purdon £538 in 2023 .
## **9. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||31.12.23|31.12.22|
|---|---|---|
|Charitable activity|4|3|
No employees received emoluments in excess of £60,000.
continued...
Page 13
The Bardsey Island Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
|**10.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2023
Additions
Disposals
At 31 December 2023
**DEPRECIATION**
At 1 January 2023
Charge for year
Eliminated on disposal
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
**11.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 January 2023
Revaluations
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
There were no investment assets outside the UK.
Cost or valuation at 31 December 2023 is represented by:|Freehold
property
£
101,000
-
-
101,000
-
-
-
-
101,000
101,000|Plant and
machinery
Totals
£
£
51,390
152,390
6,644
6,644
(19,998)
(19,998)
38,036
139,036
22,888
22,888
6,498
6,498
(8,511)
(8,511)
20,875
20,875
17,161
118,161
28,502
129,502
Listed
investments
£
201,854
20,694
222,548
222,548
201,854|
|---|---|---|
|||Listed|
|---|---|---|
|||investments|
|||£|
|Valuation in|2022|201,854|
|Valuation in|2023|20,694|
|||222,548|
continued...
Page 14
The Bardsey Island Trust Limited
## Notes to the Financial Statements - continued for the Year Ended 31 December 2023
|**12.**
**STOCKS**
Stocks
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
VAT
Other creditors
Accrued expenses
**15.**
**MOVEMENT IN FUNDS**
At 1.1.23
£
**Unrestricted funds**
General fund
250,084
Spirituality
8,209
258,293
**Restricted funds**
Revaluation
78,854
Carreg Fawr murals
5,156
Funded equipment
7,654
91,664
**Endowment funds**
Endowment
241,200
**TOTAL FUNDS**
591,157|31.12.23
£
300
31.12.23
£
84,537
1,844
86,381
31.12.23
£
13,215
6,611
113,959
24,033
157,818
Net
movement
in funds
£
(59,076)
2,417
(56,659)
20,694
(400)
(7,654)
12,640
-
(44,019)|31.12.22
£
300
31.12.22
£
85,745
1,801
87,546
31.12.22
£
167
5,630
94,770
11,904|
|---|---|---|
|||112,471|
|||At
31.12.23
£
191,008
10,626|
|||201,634
99,548
4,756
-|
|||104,304
241,200|
|||547,138|
Page 15
continued...
The Bardsey Island Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **15. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Spirituality
**Restricted funds**
Revaluation
Carreg Fawr murals
Funded equipment
**TOTAL FUNDS**|Incoming
resources
£
354,067
2,417
356,484
-
-
-
-
356,484|Resources
expended
£
(413,143)
-
(413,143)
-
(400)
(7,654)
(8,054)
(421,197)|Gains and
Movement
losses
in funds
£
£
-
(59,076)
-
2,417
-
(56,659)
20,694
20,694
-
(400)
-
(7,654)
20,694
12,640
20,694
(44,019)|Gains and
Movement
losses
in funds
£
£
-
(59,076)
-
2,417
-
(56,659)
20,694
20,694
-
(400)
-
(7,654)
20,694
12,640
20,694
(44,019)|
|---|---|---|---|---|
|||||(56,659)
20,694
(400)
(7,654)|
|||||12,640|
|||||(44,019)|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Spirituality
**Restricted funds**
Revaluation
Carreg Fawr murals
Funded equipment
**Endowment funds**
Endowment
**TOTAL FUNDS**|At 1.1.22
£
185,325
8,553
193,878
105,853
5,156
8,471
119,480
241,200
554,558|Net
movement
in funds
£
64,759
(344)
64,415
(26,999)
-
(817)
(27,816)
-
36,599|At
31.12.22
£
250,084
8,209|
|---|---|---|---|
||||258,293
78,854
5,156
7,654|
||||91,664
241,200|
||||591,157|
Page 16
continued...
The Bardsey Island Trust Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **15. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Spirituality
**Restricted funds**
Revaluation
Funded equipment
**TOTAL FUNDS**|Incoming
resources
£
227,665
78
227,743
-
-
-
227,743|Resources
expended
£
(162,906)
(422)
(163,328)
-
(817)
(817)
(164,145)|Gains and
Movement
losses
in funds
£
£
-
64,759
-
(344)
-
64,415
(26,999)
(26,999)
-
(817)
(26,999)
(27,816)
(26,999)
36,599|
|---|---|---|---|
## **16. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023 .
Page 17
The Bardsey Island Trust Limited
## Detailed Statement of Financial Activities for the Year Ended 31 December 2023
|Detailed Statement of Financial Activities
for the Year Ended 31 December 2023|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|4,020|2,983|
|Gift aid|6,665|-|
|Subscriptions|13,026|16,673|
|Fees for filming|2,450|4,600|
|Natural Resources Wales|101,477|-|
|Area of Outstanding Natural Beauty|30,000|-|
|Cyngor Gwynedd|-|12,254|
|Wales Council for Voluntary Action|-|49,355|
|Architectural Heritage|47,723|-|
||205,361|85,865|
|**Investment income**|||
|Interest received|3,139|526|
|**Charitable activities**|||
|Letting|109,563|99,094|
|Boat licence|10,253|10,526|
|Sale of Enlli merchandise|7,570|7,193|
|Rent of farm and other properties|20,598|20,789|
||147,984|137,602|
|**Other income**|||
|Consultancy fees|-|3,750|
|**Total incoming resources**|356,484|227,743|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|72,522|48,659|
|Council tax|1,756|1,685|
|Insurance|16,288|14,789|
|Farm land management|82,964|-|
|Publications|7,897|4,894|
|Advertising|-|735|
|Sundries|972|5|
|Boat transport|7,853|7,359|
|Rubbish removal|-|1,039|
|Direct cost of letting|19,133|15,535|
|Maintenance|108,657|25,170|
|Tractor and equipment costs|-|2,205|
|Cost of Enlli merchandise|4,451|2,598|
|Depreciation|6,498|6,709|
|Deficit on sale of tangible fixed assets|11,487|-|
||340,478|131,382|
This page does not form part of the statutory financial statements
Page 18
The Bardsey Island Trust Limited
## Detailed Statement of Financial Activities for the Year Ended 31 December 2023
|Detailed Statement of Financial Activities
for the Year Ended 31 December 2023|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|**Support costs**|||
|**Management**|||
|Office administration|16,780|14,712|
|Professional fees|56,225|12,753|
|Meetings and translation|1,916|815|
||74,921|28,280|
|**Finance**|||
|Postage and stationery|1,978|779|
|Bank charges|2,012|1,665|
|General office expenses|808|1,039|
||4,798|3,483|
|**Governance costs**|||
|Accountancy and legal fees|1,000|1,000|
|Total resources expended|421,197|164,145|
|**Net (expenditure)/income**|(64,713)|63,598|
This page does not form part of the statutory financial statements
Page 19