Con]pany resistralion number.. 01378599
Charity registration number.. 507842
Mostyn Gallery Limited
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2024
G Hickerton
Aston Hughes & Co Chartered A¢couDtantS
Selby Tow¢rs
29 Princes Drive
Colwyn Bay
North Wal¢s
LL29 8PE

Mostyn Gallery Limited
Contents
Refe￿nce and Admin￿trative Details
Str&t¢gi¢ Report
Trustees, Report
3to8
Independent Examiner's Report
Statern¢nt of Financial Activities
Ioto 11
Balance Sh¢et
12
Statetnent of C&sh Flows
13
Notes to the Financial Stat￿¢Thts
14to30

Mostyn Gallery Limited
Reference and Administrative Details
Trustees
Mr J C Salisbury. ChpAirman
Mr A CTamerotti. Gallcry Director (resigned 31 Dec¢mber 2023)
Mr E Willian
Ms V Griffith8
Mrs H Weaver (Tesigned 31 Dccember 2023)
Mr D Lloyd
Mrs M Hawkins
MrA Bertola
Ms C Harding (appointed 31 December 2023)
Charlty Reglstratlon Number
507842
Company RegistrAtton Number
01378599
The charity is incorporated in England and Wales.
Oriel Mostyn
12 Vautsn Street
Llandudno
Ci)nwy
LL30 IAB
Reglstered Offlee
Independent Examiner
G Hickerton
Aston Hugh&s & Co Cl)artered Accountants
Selby Towers
29 Princes Drive
North Walcs
LL29 ¥PE
Solicitors:
Gamlins
31-37 Russell Road
Rhyl
LL18 3DB
Banker$
National Westmin8ter Bank Pl
250 Bishopsgate
LoDdon
BC2 4AA
Page I

Mostyn Gallery Limited
Strategic Report for the Year Ended 31 March 2024
The trustees, who are directors for the purposes of company law. present their strat¢gi¢ report for the year ended
31 Marcll 2024, in compliance with s414C of the Companies Act 2006.
Financixl review
Policy on peserves
Thc Tn￿tCCS. RcscTYCS Policy statcs that having given due consideration to the operdtional wofile of the
ch2rity. Gallery Couucil has decided that it is appropriale to hold a reserve that would allow tbe charity to
dis¢harge its liabilities and close its operation in an orderly fashion should it be unable to continue its activities.
The Tn￿teeS established that this would rcprcbcnt holding a rcserve equivalent to 3 rnonths, operational
cxpcnditurc plus thc r¢dundancy costs of all staff members. This figure has bcen calculatcd to bc £140,noo.
F,stablishing thi8 reserve is th¢ key basis of the programme Schedule that has been adopted by the Gallery
Council. The Gallery continues toward ¢stablishin8 this level of which is not yet mel.
The total funds held by charity at the end of the reporting p¢riod w￿¢ £2.790.281 (2023, £2.821.697).
This includ¢s restri¢t¢d fllnds of £82,877 (2023, £0).
The totsl fijnds that Gan only b¢ realised by disposing of fixed assets weff £2.790,281 (2023, £2.821.697).
The total fr¢¢ r¢s¢rves held by the ch&Tity at the end of the reportillg period w¢re £0 (2023, £0).
Plans for futhre perAod8
The Trustees have agreed a progran)me ￿hedUle that consolidates the excellent work done over the past four
years in temts of fmaneial controls and stabillty. This will be cornplement¢d by a ¢ono¢rt¢d ¢ffort to incr¢ase
Mostyn's capability in terms of attracting corporate and individu818iving.
Key risks dnd uncer¢dinrfes
The most significant risk Mostyn faces is fillther cuts to the COTe fur￿l￿g received from ACW (Arts Council of
Wales). the context of a wider eL'oIiomiL downturn and continucd cost of living crisis.
Having already experienced initial cuts in this financial year, Mostyn sought to stabilise ovet*ead costs, to
ensure that all externally fi￿ded projects contrlbute towards the orgaDisation's core costs. and strategically
rcview all potential commcrcial OpportL￿1tleS to de-risk the funding uncertainties movillg forward.
The Trustee8 have assessed the major risks to which the cllaritable company is ¢xpos¢d. and are satisfied that
systems are itL place to miti8ate exposure to those major risks.
The Trustees ar¢ ill agreement that Mostyn Gally Limit¢d is able to conlinue as a going concern for at least the
next 12 months.
The strategic report was approved by the tru5t¢¢s of th¢ d]arity on 19 December 2024 and signed on its behalf
by:
MrJCSali
Truste
Page 2

Mostyn Gallery Limited
Trustses, Report
The tn￿te¢s. who dir¢ctors for the purposes of company law, present the annual report together with the
financial stat¢meDts and ind¢p¢ndent examiners rq)ort of the charitable company for the year ended 31 March
2024.
Objeetives gnd a¢tivities
Objects and aims
ostyn is a public art gallery and & not-for-proflt organisation in Llandudno. North Wales, with a Pro￿amme of
contemporary art exbibitions on & par with those in major global art centres.
Mostyn Gallery Lirnitcd produces a r￿8¢ of cr¢ative activities for its visitQTS to enjoy &t Mostyn or at home.
Thes¢ are inspir¢d by the exhibition pro￿￿Me. Mostyn also works With schools, colleges, universities) youth,
community and special need8 groups.
Th¢ Gallery shop s¢lls a wide range of jewellery, cernmics, prints, glassw￿¢, books. magazines and cards,
supportin8 th¢ work of over 400 independeni artists and makers.
Values
Support excellence: sRLow the best iDternational wntemporary art. and the best work by regional artist&
craftspeople alld makers.
. Captivat¢ and fas¢inat¢.' encouraging dlscussion and reflection on how and why ¢ontemporary art is relevant to
¢v¢ryone's lives.
. Champion illclusivity: be welcoming, accessible and providing space for all voices.
• Collaborate.. share Mostyn and the value of contemporary art beyond the building by working in partllership
with others in the local ¢onununitie8.
. Act with In*grity'. pron]ote sustainable and ethical working practices and creative i)pportunities for others.
. AdVo￿te.. a¢tively sUPPOrt the Welsh language and the Welsh culturat sector.
Vision
To produce outstanding and internationally significant ¢ont¢mporary art exhibitions that aim to represent
diverse persp¢ctives on colllemporary lif¢.
. To engage. inspire and excite audiences, through ambitious exhibitions. learning and digital progrnmmes.
To provide a s&fe. inGlusiv¢. accessible and welcoming envtronment to share ¢ont¢mporary art and open
dialogue with everyone.
. To p&ssionately support and promote the Welsh lallguag¢ as a modern language of creativity and innovation.
To nu￿re and promote Welsh and Wales based artists and creativ¢ practition¢rs, nationally and
int¢rnationally.
To be a resilient, diverse and sustainable organisation that contributes towards th¢ cultyTal. social.
environrnental and economic fabric of Wales.
During this financial year, Mosryn Gallery Limited has maintained its position as the leading visual arts
organisation in Wales incr¢asin8 the rea¢h. ambition and reco￿lt10n of ity artistic programme as well as its
impart on th¢ local ¢onJmunity.
Page 3

Mostyn Gallery Limited
Trustses, Report
Objeelives, sltategies and activilie5
Audience nmmbeps
In 2023124 59.686 OT]-Sit¢ visitq were received and 31,151 website unique visits, reaching 429,343 overall online
users. 73.321 online users were actively engaged through various social media ¢batmels.
£395,004 was received as part of OUT allnual portfolio funding from the Arts Council of Wales (ACW) to deliver
OUT core exhibition activitie8, and a further £289.542 was rnised from other charities. trusts and funds to support
public engagement activities.
A 20/0 Cut to annual funding frozn ACW this year meant that Mostyn Gallery was more reliant on these other
fi]ndrai8iog activitie8. however a sigllificant capital investment of over £250.000 frL)m thc Sennedd. as 8 pariner
in th¢ NationAI Contemporary Art Gallery of Walcs project, and the provision of resource and revenue funding
from a parth¢rship with the National Gallery, London, along with improved sal¢s from th¢ Gallery Shop. have
m¢ant tbat the fman¢ial position has remained positive.
Exhibi¢ions
Rosemarie Castoro.. Trap A Zoid (off site)
Rosemarle Castoro.. Carving Space
Ffocws #l
Artes Mundi 10.. Taloi Havini
Rooted in Wales
Syfrdanol
Diane Dal-pra.. Dissolutions
Orcn Pinbassi". Falsc Ala
The Great Outdoors
Soft Tou¢h and Fluffy Delights
Stsfan Briiggemann: Not BlacL Not Whit¢. Sil￿r
iwostyn Gallery Lirnited has worked in partnership with organisationB Such as IKT (IKT Congress 2023). Artes
Mundi (AMIO), The National Gall¢ry, London (The Triumph of Art). and Amgueddfa Cymrn (the National
Contemporary Art Gallery of Wales) to deliver some of the exhibitions that hav¢ taken place during the year.
Page 4

Mostyn Gallery Llmlted
Trustees, Report
Ardsile Programme Events
Events led and delivered by Mostyn Gallery Lllnited during the reporting peTiod included:
Cbildren's workshops
Artist's talks
Exhibitloll tours with curators
Digital events such as symposia and webinars
Art professional development workshops
Graduate and under￿￿￿at¢ Fine Art study visits
H¢alth & Wellb¢ing group support
Family drop in art workshops
Disability Arts c￿ s¢ssion8
Rural artist rcsidcncics
Isdyfiant / Undergrowth events
Learning resource Packs
Public benefit
The trustees confm that they hav¢ complted with the requiremettts of seetion 4 of th¢ Charities Act 2011 to
have due regard to the public benefit guidance published by the Ch￿lty Conmiission for England and Wales.
Page 5

Mostyn Gallery Limited
Trustees, Report
Strueture, governanee and manag¢m¢nt
Namre ofgovernlng documext
Mostyn Gallery Limited is a company limited by guaTantee as d¢fm¢d by the Companies Act 2006. It is a
registered charity. The company was established in 1979 under a Memorandum of Associatio￿ which
established the obj¢¢ts and powers of the Llwitsble company and is goverrted under the Articles of Association.
Charity constifytion
The trustees n￿¢t three times a year and are responsible for the Managen￿nt strategic leadership of fhe
charity and ensuring that the charity devotes all of its Tcsoufcc5 and assets towards meeting IL8 objectives. All of
thc tNstccs arc n]crnbcrs of the company and 8uarAntccd to contribute £1 in the event of a winding up.
Recruitment and uppointmtftt of Éru.*Èees
Mostyrt Gallery Trustees are recruited according to the skills TequiTed as id¢ntified by the Trustees.
A skills audit bas been undertaken this year and it has been identified that n￿re Trustees m¢mbgTS r¢quir¢d
to meet the needs of the organisation after the most [￿ent Arts Council of Wales portfolio funding review
(April 2024). This will ensure that the orgaDisation has th¢ breadth of skills needed to keep it moving forwards.
A broad and diverse recruitment process will be adopted and governauce training will given regularly to
mernb￿ via profession￿ bodies.
Dectslon moklng
All decisions on policy and strategy are made by the Gallery Trustees and recorded in the Minut￿ of the
meetings. Day to day responsibility for the management of the Charity is d¢l¢gated to the Ga]lery Interim
Dircctor Clarc Harding. Individual Trusteeq tske particular interest in aspects of the business relating to their
ski118 and expertise and provide mentorship and support in relation to these.
Induction andtratning of trustse
Thc charity has a policy and procedure for the indllction of volunteers and trustees. When necessary. the
Company provides training in order for Trustees to maintain appropriate knowledge of their role and
responsibility as trustees under Company IAW and ￿lY Couullission guidelin¢s.
Arrangementsfor sethng key managem¢nlpersonnel remunera¢ion
The Intrrim Dire¢tOT of the Gallery (Clare Harding) is a Trust¢¢. The salary of the Dir¢ctQT is agreed by Gallery
Council who make the appointm¢nt. Expenses incurred by th¢ Director are monitored by the CELair of Gallery
Coun¢TI. All other Trustees are unpaid except for expenses incurred directly on tb¢ charity's behalf.
Page 6

Mostyn Gallery Limited
Trustees, Report
M4jop rlsks dnd maAagement ofthose Agks
The nwst signifiwl risk Mostyn faces is furtber cuts to the core fimding received from ACW (Arts Council of
Wales). in the context of a wider economic downturn and ¢ontinu¢d cost of living crisis.
Having already experienced initial in this financial year, Mostyn sougbt to stabi]is¢ ov¢rh¢ad wsts, to
et)sure that all externally funded projects contribute towards the organisation's ¢or¢ ¢osts. aJ)d strategically
review all potential comnLerciAI opportunities to de-risk th¢ funding uncertainties moving fonvard.
Th¢ Tnjstees bave assessed the major risks to which the charitsble compatty is expose(L and are satisfied that
systems are in place to mitigate exposure to those major risks.
The TNstee8 are in agreement tELAt Mostyn Gtlllery Limited is abl¢ to cooliaue as a going concern for at least the
Dext 12 months.
Pa8e 7

Mostyn Gallery Limitsd
Trustees, Report
Statement of trus¢ees' responsibilities
The trustees (who are also the directors of Mostyn Gallery Limited for the purposes of company law) are
responsiblc for preparing the trustees, report and the fllwicial statements in a¢cordats¢¢ with appliLablc law and
United Kingdom Accounting Standards (United Kingdom Gcncrally Accepted Accounting Practice). including
FRS 102 "Th¢ FTnancial Rcporting Standard appltcable in the UK and Republic of Ireland"
Company law requires the I￿Ste¢S lo prepare fllHncial statements for each fjnyncial ycar. Under company law
the trustees must not approve the financial slatcmcnts unlcss thcy are satisfied that they give a true a￿d fair view
of thc statc of affairs of the charitable company and of tbe incotning resources and application of resource
including its iTJCOTne and expenditure, of tbe charitsble cornpany for that period. In preparing th¢se fin4ucial
statements, the ttustees are required to:
select suitablc accow]ting policies and apply them consi5tently-
obs¢rve the methods and principles in the Charities SORP.
make judgements ar￿ eStIll￿teS that are Teasonable and prudent;
state whether applicable aG¢oullting standards, comprising FRS 102 have been followed, subject to any
material deparmres disclosed and explained in the f]nancial statements,. and
pr¢par¢ th¢ financial ststements on the going concern basis unless it is inappropriate to ￿eSume that the
chaTit&bl¢ company will continue in business.
Th¢ tsustees are responsible for keeping proper accounting records that can (lisclose with reasonable a￿uraCY at
any time tbe fillancial position of the ch&rilable company and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for Safeg￿dIllg the assets of ibe charitable
company and hence for tsking reasonable steps for the PT¢vention and detection of fraud and oth¢r irregulaTities.
The trustees are responsible for the maintenan¢¢ and integrity of the cory)or&ie and financial information
included on the charitable company's wcbsits. Legislation governing the preparation and dissemination of
financial statements may differ frotn legislation in other jurisdictions.
Disclosure of information to independent examiner
Each t￿$¢¢¢ has taken stq)s that they ought to have taken as a Irustee in OTdcT to n]ake themselves aware of any
relevant IDformation and to establish that thc charity's independent examiner is aware of tbat Inforn￿tiOll. The
trustees confirm that thcrc is no relevant informAtinn that they kr]ow of and of which they know the independent
examiner is Unaw￿￿.
The annual report was approved by the trustees of thr charity on 19 D￿enther 2024 and signed on its behalf by:
MrJCS
Trus
Page 8

Mostyn Gallery Limited
Independent Examiner's Report to the trustees of Mostyn Gallery Limited ('the
Company,)
I report to the clwity tn￿teeS on my examination of the accounts of the Company for the year ended 31 March
2024.
Ruponsibilities and basis of report
As the charity's t￿￿tee5 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 examinatio￿ 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 Comm￿S1on und¢r s¢rtion 145(5)(b) of the
2011 Act.
Independent examiner's stalement
Since the Company's gross income exceeded £250.000 your examiner must be a member of a body listed in
tion 145 of th¢ 201 l Act. I confirni that I am qualifi¢d to und¢nake the examination because l am a member
of ICAEW, which is one of the list¢d bodies.
I have completed my examination. I confmn that no matters have come to my attention in connection with the
examination giving me cause to believe:
l. a¢¢ounting records were not kept in r¢spe¢t of most)￿ Gallery Limited as r¢quired by section 386 of the
2Crf)6 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 requirernent that the accounts give a 'true and fair view, which is not a nthtter considered as part of an
independent examination. or
4. the a¢counts have not been Prepar￿ in accordance with the methods and principles of the Statement of
Recommended Practi¢e for accounting and reporting by charities [applicable to charities preparing their
accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of
jreland (FRS 102)].
I have no concerns and have come across no other matters in connection with the exarnination to which attention
should be drnwn in this report in order to enable a proper understanding of the accounts to be reached.
G Glenis Hickerton Bsc, FCA
Aston Hughes & Co Chartered Accountants
ICAEW
Selby Towers
29 Princes Drive
Colwyn Bay
North Wales
LL29 8PE
19 Decanber 2024
Page 9

Mostyn Gallery Limited
Statement of Finydncial Activities for the Year Ended 31 Lvlarch 2024
ncluding Income and Expenditure Account and Statement of Total Reeognised Cains
and Losses)
Total
2(I24
Unrestricted Restricted
Note
Income alld Endowm¢nt5 from:
Dollations and lega¢i¢s
Oth¢r tr&dio8 activiti¢s
Investment income
otTr￿r incom¢
423.293
116,609
1,083
52.259
261,253
684.546
116,609
1,083
52,259
Total Income
593.244
261,253
854,497
Expenditsre oll:
Raising fijnds
Charitable a¢tivities
(65,207)
(613.435) (207,271)
(65.207)
{820.706)
Total Expenditwe
(678.642) (207,271}
(885,913)
Net (expenditure}/income
Transfcrs betwccn funds
{85,398)
(28.895)
53.982
28.895
(31.416)
i et movement in fimds
(114.293)
82,877
(31,416)
Re¢on¢ili&tion of funds
Total funds brought fonv&rd
23
2,821.697
2,821.697
Total fimds carried forward
23
2,707,404
82,877
2.790281
The notes on pages 14 to 30 forni an integral part of these financial statements.
Page 10

Mostyn Gallery Limited
Statement of Financial Activities for the Year Ended 31 iNlarch 2024
(Including Income and Expendlttire Aeeount and Statement of Total Recognised Gains
and Losses)
Total
2023
Unrestricted Restricted
Nots
Intome and Elld0Tr￿ents from:
Dollatio￿ and l¢ga¢ies
Charitable activities
Other trading a¢tiYities
Investm¢nt income
Other income
462.312
521
101,897
453
27,823
142,469
604,781
521
101.897
453
27,823
Totsl Income
593.006
142,469
735,475
Expenditure on:
Raising fun(Ls
Charitable activities
(63,194)
(628,965) (307.727)
(63.194)
(936,692)
Totsl Expenditure
(692,159) (307,727)
(999,886)
Nct cxpcnditurc
Tr8nsfers b¥iwe¢n funds
(99.153) (165,258)
{40,232)
40,232
(264.411)
Net ll￿vement in ￿ndS
(139.385) (125,026)
(264.411)
R¢con¢illadon of funds
Total fund8 brought forwaTd
2,961.082
125,026
3,086,108
Total funds carried forward
23
2,821,697
2.821,697
All of th¢ cl]arity's activities derive from CODtinuing operdtions during the above two p¢rio(Ls.
The notes on pages 14 to 30 forni an integral part of thes¢ financial statements.
Pagell

Mostyn Gallery Limited
(Registration number: 01378599)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assets
15
2,823,769
2,842,288
Current assets
Stocks
Debtors
Cash at bank and in hand
16
17
28.008
72,481
289.243
26.857
84,414
99,466
18
389,732
210,737
Creditors: Amount$ f&lling due Tvithln one y¢*r
19
(318,567)
(219,987)
Net currellt 8$setsl(liabilitie5)
71.165
(9,250)
Totsl Assets less current JJablJAties
2,894,934
2.833.038
Credltors: Amounts fxlllng due after more than one year
20
(104,653)
2,790,281
(11,341)
2.821.697
Net 4ssets
Fund8 of the charlty:
Restrlcted Income funds
Restricted funds
23
82,877
Unrestrieted ineome funds
UDrc8trictcd funds
2,707,404
2,821,697
Total funds
23
2,790,281
2.821.697
For the financial year ending 31 March 2024 the cbarity was entided to exemption from audit urftder section 477
of the Companies Act 2006 relating to Small comp2nie&
Directors, responsibilities..
The memlxrq have not required the charity to obtsin an audit of its accounts for the year in question in
accordance with section 476,. and
The directors ￿knOwledge their rcsponsibilities for complying with the requireTnents of the Act with respect
to accountin8 records and the prepaTation of accounts.
The fllthncial statements on pages 10 to 30 were approved by th¢ truste¢s. and authorised for issue on 19
December 2024 and signed on their behalf by:
Mr J C Salis
Tnjstee
notes on pages 14 to 30 forn) an integral part of these f]nallcial statements.
Page 12

Mostyll GaIlery Limited
Statement of Cash Flows for the Year Ended 31 March 2024
2024
2023
Note
Cosh flows from operating activities
Net expenditure
(31.410
(264.411)
Adjustments to ¢ash flows from non-cash ittm5
Depreciation
Investment income
196.603
1,083)
161.137
(453)
164,104
{103,727)
Worklng eapltAI adjustments
Increase in stocks
De￿¢48¢/{1llcrCasc) in debtors
Increase in creditors
Incre&*e in deferred income
16
17
19
19
(1,151)
11.933
98,579
93,312
(10,661)
(16.787)
41,321
Net cash flows from operating activitieg
Cash flows frnm investing Ydetiiryties
Interest receivabl¢ and similar income
Purch￿ of tangible fixed assets
366,777
(89,854)
1,083
(178,083)
453
15
i et cash flows from investing activities
177,000
453
Net increase/{decrease) in cash and cash equivaleDts
Cash and ca8h equivalents at l April
189,777
{89.401)
188.867
18
99.466
Cash and wh equivalents at 31 March
18
289.243
99,466
The notes on pages 14 to 30 form an integral part of these financial statements.
Page 13

Mostyn Gallery Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
I Charlty status
The charity is a charity limited by guarantee. inCo￿orated in England and Wales. Consequently does not
have slLarc capital. Each of thc trustees is liable to contribut¢ an amount not exceeding £1 tOW8rds the assets of
the charity in the event of liquidation.
The address of its ￿gIStered officc is:
Oriel Mostyn
12 Vaughan Street
Llandudno
Conwy
LL30 IAB
These fmancial staternentg were authorised for issue by the trustees on 19 December 2024.
2 Ac¢ountillg poli¢i¢5
Summary of $ignAflcant Accounting policie$ #nd key a¢¢ounting estimates
The pIincipal accounting policies applied in the preparation of these financial stat¢m¢nts set out below.
These policies bave been Consistently applied to all the years presented, unless otherwis¢ stated.
Statement of compllance
The flnancial Statements have been prepared in accordance with Accountitig and Reporting by Charities..
Statement of Recon)mended Practice (applicable to ¢hariti¢s pr¢paring theiT ac¢oullt5 in accordance with the
Finaneial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)) (issued in October 2019)
(Clwities SORP (FRS 102)). the Fillancial Reporting Standard applicable in tILe UK and Republic of Ireland
(FRS 102) alld the Companies Act 2006.
Basis of prepar*tion
Mostyn Gallery Limited meets the definition of a public benefit entity under FRS 102. Assets 8nd liabilities are
initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting
policy notes.
Thc fmancial statcrncnts aw pr¢par¢d in slerling. and n￿lletary amounts ill thes¢ f￿3￿￿1a] stat¢ments aT¢
rounded to thc nearcst £.
Going eoncern
The trnstees consider that there are no mateTial uncertainties about the charity's ability to continue as a going
llceni IIOT any significant areas of un¢eTtainty that aff¢ct the carrying value of assets held by the charity.
Income and endowments
All income is recoglli8ed once the charity has entitlement to th¢ income, it is probable that the income will be
received and the amount of the illcome receivable can be measured reliably.
Page 14

Mostyn Gallery Limited
Notes to the Finaneial Statements for the Year Ended 31 March 2024
DoAatsoHs dnd legacies
Donations Mre recognised when the charity has been notified in HTiting of both th¢ amount and settlement date.
In the event thot a donation 18 subject to conditions that require a level of perfonnance by the charity before the
charity is entitled to the funds, the income is dcferted and llot rccogniscd until cithcr thosc conditions aTC fi￿Y
MCL or the fulfilment of those conditions is wholly within the control of the charity and it is probable that the8e
Conditions will be fiLlfilled in th¢ T¢PQrting p¢riod.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grallts
have been met. Where perfoLinance conditions are attached to the grant and are yet to be met, the income is
Tecogllised as a liability and included on the balance sheet as deferred income to be released.
Deferredincome
Deferred income relatss to a Capital grallt which is r¢Gognis¢d in the profit and loss account on a syslemati
basis over the usethl economic life of the asset to which it related to.
Other trading aetivities
Shop income is recognised as earned (that is. as tbe r¢lated goods or services are provided).Turnover is
measwed at the fair value of the consideration received or receivabl¢ alld represents amounts r¢¢¢ivable for
goods and services provided in the norn1￿ course of business, net of discounts. VAT and other sal¢s Telated
taxes.
Expendlture
All expenditure is recognised on¢¢ there is a legal or constn￿tive obligation to that expenditUTe. it is probable
settlemertt is required and the amount ¢an be mwured reliably. All costs are allocated to the applicable
exp¢ndithr¢ heading that aggregate sin]ilar costs to that ￿tegOry. Where ¢osts cannot be directly attiibuted to
particular headings they have been allocated on a basis consistent with the use of TCSuurc¢s, with ientral 8thff
costs allocated on the b&sis of iimc SPCDt. and dcprcciation chargcs allocated on the portion of th¢ &sset'8 use.
Other support costs are allocated based on the spread of Stall costs.
Roisingfvnd
Thcsc arc costs incurr¢d in attracting voluntary income and in trAding activities that raise funds.
Charitable 4diviiies
ch￿1t￿ble expenditure comprises those costs incurred by the charlty iu the dclivery of its activitics and scryiccs
for ils b¢n¢ficiartes. It includes both costs that Gan be allwat¢d directly to such activities and those costs of an
indirect natur¢ n¢ce8sary to support then).
Governance costs
These include the costs attributsble to the charity's compliance with constithtional and statutory requirements,
including independent examination, strategic management and trustees rneetings and reimbursed expenses.
Page 15

Mostyn Gallery Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Government grant%
Government grants are recognised based on the accnwi nKJd¢l and Are me&¥ured at the fair value of the asset
received or receivable. Grallts arc classified as relating either to revcnuc or to assets. Grdnts relating to revenue
are re¢ognised in income over the period in which the related costs arc Tccogniscd. Grants relating lo assets are
recognised over the expected useful lifc of the asset. Where part of a grant Telatillg lo all asset is def￿ed. it is
recognised deferred income.
Irrecoverable VAT
I￿ecOVer&ble VAT is charged against the category of resourcu expended for whicb it w&5 incurred.
Taxation
The charity is considered to pass the tcsts sct out in Paragraph I Schedule 6 of the Finance Act 2010 and
thcrefoT¢ it meets the definition of & charitable company for UK corporation tax purposes. Accordingly. the
charity is w>tentially exempt from taxation in regpect of income or ¢apilal gains received within catC8orie5
covered by Chapter 3 Part I l of the Corporation Tax A¢t 2010 or Section 256 of the TaxatlOD of ChaTg¢able
Gains Act 1992, to the extent tbat suGh income or gain8 are applied ex¢lusively to charitable purposes.
Tangible fixed gssets
Individual fixed assets costing £IOOO.00 or more are initialty record¢d at ¢ost, less any subs¢quent ￿¢uMUlated
depreciation gnd subsequent accumulated impairnienl 105ses,
Depr¢¢iation amortisation
Depreciation 18 provided on tangible fixed &ss¢ts so as to write off the cost or valuatt'on, less any estimated
r¢sidual value. over their expected USefi￿ economic lif¢ as follows..
Leasehold and other interests in land and buildings". over 30 years
Fixtures & Fittings.. 200/0 Strai8ht Line Basis
Stock
Stock is valued at the lower of Cobt dnd cstimated selling pri¢e le￿ costs to complet¢ and sell. after due regard
for obyolctc and slow Enoving stocks. Cost is determincd using the r￿t-]￿ f￿t-out (FIFO).
Trade debtors
Trade debtor8 are amounts due from customeTS for merchandise sold or s¢rvi¢es pcrformcd in the 0￿]llary
¢ourse of business.
Tradc dcbtors arc rccognised initially at the transartion price. They are subsequ¢ntly measured al amortised cost
using the effective interest method. less PTOViSiOn for impairnTrent. A provision for thc impairment of trade
debtors is establi8hed when there is objective evideDCC that the charity will not be able to collect all amounts due
according to the original terms of the T¢¢¢ivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call de￿)SitS. and other short-term higbly liquid
investments that are r¢adily convertible to a kt￿w￿ amount of cash and are subject to an insignificant risk of
change in value.
Page 16

Mostyn Gallery Llmlted
Iyotes to the Financi21 Statements for the Year EJ)ded 31 March 2024
Trade creditors
Trad¢ ￿edItorS ar¢ obligations to pay for goods or services that have been ￿qllIred in the ordinary course of
business frotTL suppliers. A¢¢ounts payable are cl&ssified as cu￿ent liabililles if the charity does not have all
unconditt.onal right, at the end of tbe reportitig period, to defer settlement of the ¢reditor for at l¢&st twelve
months after the reporting date. If ther¢ 15 an unwnditional right to defer settlement for at least twelve months
after the reporting date, they are presented AS nonwcurrent Itabilities.
Trade Creditors are recognis¢d initially at the transaction price and subsequ¢ntly m¢asur¢d at amortised Cost
using the effective interest method.
Borrowlngs
Int¢r¢st-bearing borrowings are initia]ly recorded al fair value, net of transaction costs. Interest-beaTing
borrowings are subsequentty carri¢d ai amortis¢d eos¢ with the difference betweell the proceeds, net of
transaction ¢osts, alld tbe amount due on Tedemption beiDg recogllised as & charge to the Statement of Financial
Activities over the period of the relevant borrowing.
Non-intucst-bearing borrowings are recorded at fair value.
Interst ¢xp¢ns¢ is r¢¢ognised on the basis of the effective interest method and is included in interest payable
and similar charges.
Borrowings are classified a8 current liabilities unless the charity has an ullGonditional right to defer settlement of
the liability for at1¢&8t hvelve months after the reporting date.
Fulld 5trurture
Unrestrict¢d income fiLnds are general funds that are available for use at the tn￿te¢S discr¢tiOTJ in filltherance of
the objectives of the charity.
Restrlcted income ftmds are those donated for use in a particular ar¢a or for specific purposes, the use of which
is restricted to th&t area or purpos¢.
Penslons and other post retirement obligations
The charity operates a d¢fin¢d conrribulion pension scheme which is a pension plan under which fixed
contributions are paid into a pension fund and the ¢]wity has no legal or con81n￿tiVe obligation io pay further
contributions even if the fjjnd does not hold sufficient assets to pay all employees the benefits relating to
employ¢e se￿1¢¢ ill the current and prior periods.
Contributions to defined contiibution plans are Tecognised in the Statement of Financial Activities when they are
due. If contribution payments exceed the Cotitiibution due for s¢rvic< th¢ excess is recognised as a prepayment.
"Ji
FiDan¢ial instruments
ClasslJlc4¢1on
Finan¢ial ass¢ts fmancial liabilities are recognised when the charity beGorrLes a paty to the contractual
provisions of the instrument.
Firtancial liabilities and equity instruments are cl&ssifi¢d ￿￿OrdIng to tbe subslallce of the Colltractual
aiYan8em¢nts ent¢r¢d into. An equity instrument is any contract that evid¢n¢¢s a TesiduaL interest in the assets of
the ¢1￿lty aft¢r deducting all of its liabilities.
Page 17

Mostyn Gallery Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Recognit40A and meLsurement
All financial assets and liabilities aTe initially measured at transaction price (including transaction costs). ￿cept
for those financial assets classified as ai fair value through profit or loss, which are iDltially measured at fair
value (which is norn]ally the transaction price ¢xcluding transaction costs), unless the aNangement constilut¢s a
financing transaction. If an arrangement constitutes a financing transa¢tion, the financial asset or financial
liability is rneasured at ibe present value of the ￿tllre payments dis¢oullt¢d at a nwk¢t ratc of int¢r¢st for a
similar debt instnllnent.
Financial &ssets and li&biIities are only offset in the statement of financial position when, and only when there
exists a legally enforceable right to set off the re￿gnIsed amounts and the charity itLtwds either to settle on a
net basis, or to re￿ise the asset and settle the liability simultaneously.
FinallLi81 asscts arc dCrCco￿I￿cd whcn alld only whcn a) the contractual rights to the cash flows from the
financial asset expire or are qettle& b) the charity tran5fgrs to another paty substantially all of the risks and
rewards of ownership of the financial asset. or c) the charity, despite having relained some, but not all.
signifJcan¢ risks and rewards of ownership, has traDsfeTred Control of th¢ ass¢t to another paty.
Financial liabiliti¢s are d¢recognised only when ihe obligation specified in the contr2¢t is discharg¢(L ¢ancelled
or expires.
Page 18

Mostyn Gallery Llmited
Notes to the Finallcial Statements for the Year Ended 31 Mareh 2024
Debi IRstruméAts
Debt instnunents which meet the following conditions are 8ub8equ¢ntly measured at arnortis¢d cost using the
effective interest method..
(a} The colltractual return to the holder is (i) a fixed amoullt" (li) a positive r￿ed rate or a positive variable rate.
or (iii) a combiuation of a positive or a negative f￿ed rate and a positive vatiable rate.
(b) The contract may provide for repayments of the principil or the returtL to the holder Ibut not both) to be
linked to a single Televant obsetvable index of general price inflation of the currency in which the d¢bt
instnunent is denotninated, provided such links are not leVerag￿L
(c) The contract rnay provide foT a detemiiDable variation of the return to the hold¢r during the life of the
instrument, provided that (i) the new rate satisfie8 condition {a} and the variation is not contingent on fvture
events other than (l) a change of a contractual variable Tate- (2) to protect th¢ holder against credit deterioration
of the issuer- (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law,.
or (li) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its tern￿, result ill the holder108ing the principal arnount or
any intsrest athibutable to the current period or prior periods.
(e) Contractual provisions that perniit tEe issuer to prep&y a debt instnllnent or perniit the holder to put it back to
the issuer before maturity are not contirLgent on fiLttwe events, other th8￿ to protect tbe holder against the credit
deterioration of the issuer or a change in control of thc issuer, or to protect the holder or issuer against Lh￿8¢8
in levies applied by a Central bank or arising from ¢banges in relevant taxation or law.
{0 Contractual pmvisions may pern)it the extension of the temi of the debt itistrument. provided thai the return
to the holder and any other contractual provisions applicable during the extended ierni satisfy the conditions of
paragrdphs (a) to {c).
Debt inS1n￿entS that are cl￿SIfIed as payable or receivable within one year on illittal reco¥llilion and which
meet the ibove conditions are measured at the undiscount&l amount of the cash or other consideration expected
to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt In81n￿¢llts not m¢¢ting th¢se wnditions are
measured at fair value through profit or loss.
CommithTrents to mak¢ and receive loans which me¢t the conditions mentioned above are ￿￿&sUred at Cost
(which may be nil) l¢ss irnp8irment.
Page 19

Mostyn Gallery Limited
Notes to the Flnanclal Statements for the Year Ended 31 March 2024
3 Income from donations and legacies
Unr¢strirt¢d
Total
2024
Total
2023
G¢ty¢ral
Restricted
Donations and l¢gacies'
Donations from individua18
Grants. in¢luding ¢apital gr&nls"
Gov¢mmeut grnnts
Non government grattts
7,457
16.126
23.583
34.289
403.604
12.232
218,627
26.500
622,231
38,732
25,370
545.122
423,293
261,253
684,546
604,781
4 Income from charltable ACtlvitie$
Total
2024
Tot
2023
Exhibitions
521
S Income from other tradlng actlvltles
Unr¢stri¢ted
Totsl
2024
Total
2023
General
Trading income.
Shop income
116,609
116.609
101,897
116,609
116.609
101,897
Page 20

Mostyn Gallery Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
6 Investment income
Unrestricted
fund$
CenerAI
Total
2024
Total
2023
Interest receivable and similar income.
]nter¢st r¢¢¢ivable on baDk deposits
1,083
1.083
453
7 Other income
Unrestrlcted
Tot*1
21124
Total
2023
Gener
Cafe rental
Room hire
Museums and gall¢ri¢s exhibition tax relief
4,167
648
47.444
4,167
648
47,444
4,458
loo
23265
52,259
52.259
27,823
8 Expenditure on r*i%ing funds
a) Costs of trading activitie5
Unrestricted
Total
2024
Total
2023
General
Note
Costs of goods sold
65.207
65.207
63.194
65,207
65.207
63.194
Page21

Mostyn Gallery Limited
-Notes to the Financial Statements for the YeAr Ended 31 March 2024
9 Expendlture on charltable acdvl¢le8
Unre5tri¢ted
Total
2024
Total
2023
General
Restrlcted
Note
Publieity costs
Prernises ¢osts
Exhibition program
Travel and
subsistence
Offic¢ ¢osts
Sundry expenses
Bank dwges
Interest payable
Depreciation
Jxgal and
profcssional
Staff costs
Governance costs
13.057
57,705
36.605
335
40,271
102.279
13,392
97.976
138,884
16,625
102.639
294,066
22.180
68.721
12,304
662
567
160,987
22.180
68.721
12.304
662
567
196,603
34,917
12,888
453
1.815
692
161.137
35.616
9,478
227,169
4,000
9,478
255,939
4,000
7.718
299,742
4.000
28.770
io
613,435
207,271
820,706
936,692
lrtcluded Ivithin exhibition program ¢osts are:
Grants made to individuals of £42,000.
Grants made to institutions of £4,000.
Page 22

Mostyn Gallery Limited
Notes to the Financial Statements for the Year Ended 31 MArch 2024
10 Awdlysis of governance and support costs
Governance co8t$
Unrestrlctsd
funds
General
TotAI
2024
Total
2023
Independent examiner fees
Examination of the fiDancial stat¢m¢ntS
4,0(10
4.000
4.000
4.000
4.000
11 ￿'¢t InCon￿ng10utgofillg re&our¢¢8
Net outgoing resources for tbe year include:
2024
2023
Opcratitig leases- othcr assets
Other non-audii Services
Depreciation of fjxed assets
Finance charges payable
Indcpcndcnt cxamination
36,250
3,848
199,603
567
46,145
3,870
161.135
692
4.iKIO
12 Trustees remuneration *nd eipeDses
During the ye4r the charity made the following transactions with ttustees:
Mr A Cramerotti
Mr A Cramerotti receii'ed remuneration of £40.034 (2023: £49.799) bettveen l April 2023 and 31 December
2023 and peJ)sion costs of£l.059 (2023 £1,321).
The remuneration and expenses paid on behalf of Mr Cramerotti were in respect of day to day Managen￿nI of
Ihc charity alld fulfJling his role as the gallery Ilirecttlr. Thc transactiolls rcimburscd to Mr Cramerotti were
travcl alld subsistcnce ¢osls incurrcd by him whilst on business travel using the company credit card.
Ms C Harding
Ms C Harding received reynunerxtion of £9.388 b¢twe¢n l January 2024 and 31 March 2024 pensions costs of
£247 were paid during the same period.
The r¢mun¢ration and expenses paid Oll behalf of Ms Harding were in respect of day to day rnanagement of Ibe
cEwity and fulfilling her role as the gallery director. The traEwctions reimbursed to Ms Harding were travel and
subsistence costs incurred by her whilst on busÉn¢ss travel using the company credit oard.
Page 23

Mostyn Gallery Llmlted
Notes to the Financial Statements for the Year Ended 31 March 2024
13 Slaff costs
The aggregate payroll costs were as follows:
2024
2023
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
Other staff ¢08ts
240,228
IL,345
4,366
279,872
13.973
5,076
821
255,939
299.742
The monthly average number of persons (including senior management team) employed by the charity during
the year was as follows:
2024
21123
No
Average numbers
14
19
No employee received emoluments of mor¢ than £60.000 during the year.
ReLDuneratlon of key mgnagement personnel
Remuneration for services to tbe ch￿lty._
51,600
5.761
1,306
58,667
52,000
6,234
1.321
59,558
Employefs Nl
Employetrs pension
Page 24

Mostyn Gallery Limlted
Not&s to the Financial Statements for the Year Ended 31 ,March 2024
14 Taxation
The ci]aTity is a registered charity and is therefore exempt from taxatioD.
15 Tangible rued assets
Land and
bulldlngs
Plant and
machlnery
Totsl
Cost
At l April 2023
Additions
4,726,549
125.537
178.083
4.852,086
178,083
At 31 March 2024
4.726,549
303.620
5.030,169
Depreelatlon
At l April 2023
Charge for th¢ year
1,890,144
157,550
119.653
39,053
2,009,797
196,603
At 31 March 2024
2,047.694
158,706
2,206.400
Net book value
At 31 March 2024
2.678.855
144,914
2,823,769
At 31 March 2023
2,836,405
5,884
2,842289
Included within the net book value of land and buildings above 18 £2,678,855 (2023 - £2,836,405) in Tespect of
le&sehold property.
16 Stock
2024
2023
Stocks
28,008
26,857
17 Debtors
2024
2023
Trade debtors
Prepayments
Other debtors
52,842
12.521
7,118
57,158
13.097
14,159
72.481
84,414
Page 25

Mostyn GAllery Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
18 Cagh and cash equlvalents
2024
2023
Cash on hand
C&8b at bank
40
289203
40
99,426
289,243
99.466
19 Creditors." amounts falling due within one yellr
2024
2023
Trade creditors
Other taxation and social security
VAT liability
Other creditors
AL'cruals
261,595
2,818
5.556
40,098
8,500
148,700
3,2IKI
55,363
12,724
318,567
219,987
20 Creditors: amounts falling due after one year
2024
2023
Oth¢T loans
Deferred income
11.341
93,312
11.341
104,653
11,341
Amounts included witbin other loans relate to a ¢oncessionary loan wbich attracts no interest and is not expected
lo be repaid.
Deferred income brougbt forward
Grant def¢￿ed ill the year
Def¢rr¢d in¢ome rarried forward
93,312
93,312
21 Obllgatlons under fin8D¢e leases and hire purchase Contracts
The total value of n)inimum lease payments was a6 follows:
Page 26

Mostyn Gallery Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
2024
2023
Within one year
In two to five y¢8r5
In over tive years
(36.250)
(145,000)
{435,000)
{616,250)
(36.250)
(36,250)
(145.0(Kl)
{471,250)
(652.5￿))
(36.250)
Lease payments recognised as an expense
22 Penslon and other schemes
D¢r￿ed eolltributiou pension scheme
The charity operats a defined contribulion pension scheme. The pension cost c]Mrge for the year represent8
contrtbutions payable by the charity io the scheme wid amounl¥d to £4,366 {2023 - £5,076). Contributions
totslling £1.037 (2023 - £947) were pay8ble to the 5ch¢me at the end of the year and are included in creditors.
Page 27

Mostyn Gallery Limited
Notes to the FinAncial Statements for the Year Ended 31 Mareh 2024
23 Funds
Balance at
31 Mareh
2024
Balance at I
April 2023
Incoming
resour¢e5
Re￿￿reeS
expended
Transfers
Unr¢stricted funds
Getternl
General
2.821.697
593,244
(678,642)
(28,895)
2,707.404
Reslricted tsnds
NRW - Learning and
undergrowth programme
NCAGW - C&pit&l Fund
N7CAGW - Capital Staffing
NCAGW - Project
anogemellt
National Gallery
WCVA- Energy effciency
811tv¢y
IKT
Orin Piohassi
Tuur & Revital
Dianne Dal-Pra
Rosemarie Castoro
Taioi Havini
National Mus¢um
38,037
75,887
4,203
(53.856)
(75.887)
(4,203)
15,819
10,000
81,000
(10,000)
(123)
80.877
1,000
6.500
15,000
10,000
2.000
1.000
(9.675)
(15,000)
(11.512)
(7.083)
(8.000)
(4,432)
(7.500)
3.175
E.512
5,083
1,126
8,500
3.306
Total restrieted funds
261253
(207,271)
28,895
82,877
Total funds
2.821,697
854,497
885.913
2.790,281
Page 28

Mostyn GalIery Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
BAIAnce At
31 Marc
2023
Balance ot I
April 2022
Incomlng
resources
Resources
expended
TrAnsfers
LTnrestricted funds
General
Gener
2,961,082
593.006
(692,159)
(40.232)
2.821,697
Restrict¢d
Summer of project
Digital Innovation
Llandudno Tourist &
Innovation Grant
Cerith Wyn Evatjs
Criw Celf
Jacquelin¢ d¢ Jong
Exhibition
Atsgharad Williams
Exhibition
Garfield Weston Culture
Fund
NRW L & E - Undergrowth
program
Heating system repairs
Project Space
Creativity is Mistakes
Temporary Atlas
FTanc&8 Disley Project
Podcast Di8ital Project
TotAI restrlcted funds
2.5(Ki
(2,500)
(5.000)
7.370
33,500
39,596
(7,370)
{44,596)
{41.161)
11,096
1,565
(18,721)
18,721
2,000
(6,902)
4.902
89.307
(85.807)
{3,5(Ki)
45.863
1200
{1,785)
(47,150)
(5,200)
{27.586)
(569)
1.287
4,000
3.529
49
148
25,842
520
{148)
6.950
990
7.225
(14.175)
(990)
125,026
142,469
{307,727}
40,232
Total funds
3,086,108
735,475
(999,886)
2.821,697
Page 29

Mostyn Gallery Limited
Notes to the Financial Ststements for the Year Ended 31 March 2024
24 Analysis of net assets behveen funds
Unrestrlcted
funds
General
Total fund$ at
31 March
2024
Restrlcted
funds
Tangible r￿ed assets
Cu￿ent a8sets
cu￿ettI liabilities
Creditors over l year
2.823.768
306,855
(318566)
{104.653)
2.823,768
389.732
(318.566)
(104.653)
82,877
Total net assets
2,707,404
82,877
2,790,281
Unrestrlcted
funds
General
Total funds at
31 March
2023
Tangible fixed assets
Cumt assets
Current liabilities
Creditors over l year
2.842,288
210,737
{219,987)
(11.341
2.821.697
2.842.288
210.737
(219.987)
11,341
Total net &8sets
2.821,697
25 Related party trans&ctions
There were no related paty transactions in the year.
Page 30