Charity number: 515111 ## Haverfordwest Freemen's Estate Report of the Trustees and Unaudited Financial Statements For the year ended 31 March 2025 Haverfordwest Freemen's Estate Contents Page For the year ended 31 March 2025 |Report of the Trustees|1| |---|---| |Independent Examiner's Report to the Trustees|2| |Statement of Financial Activities|3| |Statement of Financial Position|4| |Notes to the Financial Statements|5 to 10| |Detailed Statement of Financial Activities|11 to 12| Haverfordwest Freemen's Estate Report of the Trustees For the year ended 31 March 2025 The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 March 2025. 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** Haverfordwest Freemen's Estate **Charity registration number** 515111 **Principal address** The Tithe Exchange 9 Victoria Place Haverfordwest Pembrokeshire SA61 2JX ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: I D H Thomas C W D Davies R J Evans M F T Green J T Green N H Whittow M H Thomas G Williams W D A Thomas **Secretary** R K Lucas & Son **Independent examiners** A S Harries 2nd Floor 9 Victoria Place Haverfordwest Pembrokeshire SA61 2JX Approved by the Board of Trustees and signed on its behalf by ............................................................................. 22 September 2025 I D H Thomas 1 of 12 ## Haverfordwest Freemen's Estate Independent Examiners Report to the Trustees For the year ended 31 March 2025 I report to the trustees on my examination of the accounts of the charity for the year ended 31 March 2025. ## **Responsibilities and basis of report** As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiners statement** 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 that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. A S Harries 2nd Floor 9 Victoria Place Haverfordwest Pembrokeshire SA61 2JX 22 September 2025 2 of 12 ## Haverfordwest Freemen's Estate Statement of Financial Activities For the year ended 31 March 2025 |**Notes**
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
Investments
4
**Total**
**Expenditure on:**
Raising funds
5
Charitable activities
6/7
Other expenditure
**Total**
**Transfers between funds**
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
60
18,863
6,163
**25,086**
)
(60
)
(17,578
)
(740
**)**
**(18,378**
)
(2,260
**4,448**
193,416
**197,864**|**Restricted**
**funds**
**£**
2,260
-
-
**2,260**
-
-
-
**-**
2,260
**4,520**
13,236
**17,756**|**2025**
**£**
2,320
18,863
6,163
**27,346**
)
(60
)
(17,578
)
(740
**)**
**(18,378**
-
**8,968**
206,652
**215,620**|**2024**
**£**
1,190
18,343
5,984
**25,517**
-
)
(17,753
)
(730
**)**
**(18,483**
-
**7,034**
188,812
**195,846**| |---|---|---|---|---| 3 of 12 ## Haverfordwest Freemen's Estate Statement of Financial Position As at 31 March 2025 |**Notes**
**Current assets**
11
Debtors
Cash at bank and in hand
**Creditors: amounts falling due within one year**
12
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**The funds of the charity**
Restricted income funds
13
Unrestricted income funds
13
**Total funds**|**£**
**2025**
7,399
211,823
**219,222**
)
(3,602
**215,620**
**215,620**
**215,620**
17,756
197,864
**215,620**|**£**
**2024**
3,417
198,021
**201,438**
)
(5,592
**195,846**
**195,846**
**195,846**
13,236
182,610
**195,846**| |---|---|---| The financial statements were approved and authorised for issue by the Board and signed on its behalf by: I D H Thomas Trustee 22 September 2025 4 of 12 Haverfordwest Freemen's Estate Notes to the Financial Statements For the year ended 31 March 2025 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Charities Act 2011. Haverfordwest Freemen's Estate meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Statement of cash flows** The Trustees have taken advantage of the exemption in SORP FRS 102 from including a cash flow statement in the financial statements on the grounds that the charity is small. ## **Incoming resources** All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: ## **Resources expended** Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure: ## **Charitable activites** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members and trustees as a body, for our audit work, for this report, or for the opinions we have formed. ## **2. Income from donations and legacies** |Donations received
Donated goods and services|**Unrestricted**
**funds**
**£**
-
60
**60**|**Restricted**
**funds**
**£**
2,260
-
**2,260**|**2025**
**£**
2,260
60
**2,320**|**2024**
**£**
1,190
-
**1,190**| |---|---|---|---|---| 5 of 12 ## Haverfordwest Freemen's Estate Notes to the Financial Statements Continued For the year ended 31 March 2025 ## **3. Income from charitable activities** |**Unrestricted funds**
_Agricultural Rental Income_
Easements
_Other Income_
Wayleaves
**4. Investment income**
**Unrestricted funds**
Bank interest receivable
Other interest receivable
**5. Expenditure on generating donations and legacies**
**Unrestricted funds**
Donations
**6. Costs of charitable activities by fund type**
**Unrestricted funds**
Support costs
**7. Costs of charitable activities by activity type**
**Support costs**
Agricultural Rental Income|**2025**
**£**
18,740
123
**18,863**
**2025**
**£**
4,745
1,418
**6,163**
**2025**
**£**
60
**60**
**2025**
**£**
17,578
**2025**
**£**
17,578|**2024**
**£**
18,220
123
**18,343**
**2024**
**£**
4,593
1,391
**5,984**
**2024**
**£**
-
**-**
**2024**
**£**
17,753
**2024**
**£**
17,753| |---|---|---| 6 of 12 ## Haverfordwest Freemen's Estate Notes to the Financial Statements Continued For the year ended 31 March 2025 ## **8. Analysis of support costs** |**Agricultural Rental Income**
Clerk's Salary
Insurances
Distribution
Postages & Stationary
Transfer to Gild
Governance costs|**2025**
**£**
4,200
763
9,618
990
2,000
7
**17,578**|**2024**
**£**
4,200
732
9,589
1,232
2,000
-
**17,753**| |---|---|---| ## **9. Particulars of employees** |Direct Employees
**Comparative for the Statement of Financial Activities**
**Income and endowments from:**
Donations and legacies
Charitable activities
Investments
**Total**
**Expenditure on:**
Charitable activities
Other expenditure
**Total**
**Net income**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
-
18,343
5,984
**24,327**
)
(17,753
)
(730
**)**
**(18,483**
**5,844**
176,766
**182,610**|**2025**
0
**0**
**Restricted**
**funds**
**£**
1,190
-
-
**1,190**
-
-
**-**
**1,190**
12,046
**13,236**|**2024**
0
**0**
**2024**
**£**
1,190
18,343
5,984
**25,517**
)
(17,753
)
(730
**)**
**(18,483**
**7,034**
188,812
**195,846**| |---|---|---|---| ## **10. Comparative for the Statement of Financial Activities** 7 of 12 ## Haverfordwest Freemen's Estate Notes to the Financial Statements Continued For the year ended 31 March 2025 ## **11. Debtors** |**Amounts due within one year:**
Trade debtors
**Creditors: amounts falling due within one year**
Trade creditors
Accruals and deferred income|**2025**
**£**
7,399
**7,399**
**2025**
**£**
1,552
2,050
**3,602**|**2024**
**£**
3,417
**3,417**
**2024**
**£**
1,542
4,050
**5,592**| |---|---|---| ## **12. Creditors: amounts falling due within one year** ## **13. Movement in funds** ## **Unrestricted Funds** |_General_
General
**Unrestricted Funds - Previous year**
_General_
General|**Balance at**
**01/04/2024**
**£**
193,416
**193,416**
**Balance at**
**01/04/2023**
**£**
176,766
**176,766**|**Incoming**
**resources**
**£**
25,086
**25,086**
**Incoming**
**resources**
**£**
24,327
**24,327**|**Outgoing**
**resources**
**£**
)
(18,378
**)**
**(18,378**
**Outgoing**
**resources**
**£**
)
(18,483
**)**
**(18,483**|**Transfers**
**£**
)
(2,260
**)**
**(2,260**
**Transfers**
**£**
-
**-**|**Balance at**
**31/03/2025**
**£**
197,864
**197,864**
**Balance at**
**31/03/2024**
**£**
182,610
**182,610**| |---|---|---|---|---|---| ## **Purpose of unrestricted Funds** ## General Is for the benefit of the Freemen of Haverfordwest. 8 of 12 ## Haverfordwest Freemen's Estate Notes to the Financial Statements Continued For the year ended 31 March 2025 ## **Restricted Funds** |Restricted Fund
**Restricted Funds - Previous year**
Restricted Fund|**Balance at**
**01/04/2024**
**£**
13,236
**13,236**
**Balance at**
**01/04/2023**
**£**
12,046
**12,046**|**Incoming**
**resources**
**£**
2,260
**2,260**
**Incoming**
**resources**
**£**
1,190
**1,190**|**Transfers**
**£**
2,260
**2,260**
**Transfers**
**£**
-
**-**|**Balance at**
**31/03/2025**
**£**
17,756
**17,756**
**Balance at**
**31/03/2024**
**£**
13,236
**13,236**| |---|---|---|---|---| ## **Purpose of restricted funds** ## Restricted Fund The restricted fund is available to make donations to worthwhile causes in and around Haverfordwest. ## **14. Analysis of net assets between funds** |**Unrestricted funds**
_General_
General
**Restricted funds**
Restricted Fund|**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
200,124
200,124
15,496
15,496
**215,620**
**215,620**| |---|---| 9 of 12 Haverfordwest Freemen's Estate Notes to the Financial Statements Continued For the year ended 31 March 2025 |**Previous year**
**Unrestricted funds**
_General_
General
**Restricted funds**
Restricted Fund|**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
182,610
182,610
13,236
13,236
**195,846**
**195,846**| |---|---| 10 of 12 ## Haverfordwest Freemen's Estate Detailed Statement of Financial Activities For the year ended 31 March 2025 |**INCOME AND ENDOWMENT**
**Donations and legacies**
Donations
Donated goods and services
**Charitable activities**
Rents (Agricultural Rental Income)
Wayleaves (Other Income)
**Investments**
Bank interest receivable
Other interest receivable
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Donations
**Other**
Accountancy Costs
**SUPPORT COSTS**
**Clerk's Salary**
Clerk's Salary (Agricultural Rental Income)
**Insurances**
Insurances (Agricultural Rental Income)
**Distribution**
Distribution (Agricultural Rental Income)
**Postages & Stationary**
Postages & Stationary (Agricultural Rental
Income)
**Transfer to Gild**
Transfer to Gild (Agricultural Rental Income)
**Governance costs**
Other finance costs (Agricultural Rental Income)|**£**
**2025**
2,260
60
**2,320**
18,740
123
**18,863**
4,745
1,418
**6,163**
**27,346**
)
(60
**)**
**(60**
)
(740
**)**
**(740**
)
(4,200
**)**
**(4,200**
)
(763
**)**
**(763**
)
(9,618
**)**
**(9,618**
)
(990
**)**
**(990**
)
(2,000
**)**
**(2,000**
)
(7|**£**
**2024**
1,190
-
**1,190**
18,220
123
**18,343**
4,593
1,391
**5,984**| |---|---|---| |||**25,517**
-
**-**
)
(730
**)**
**(730**
)
(4,200
**)**
**(4,200**
)
(732
**)**
**(732**
)
(9,589
**)**
**(9,589**
)
(1,232
**)**
**(1,232**
)
(2,000
**)**
**(2,000**
-| 11 of 12 This page does not form part of the statutory financial statements ## Haverfordwest Freemen's Estate Detailed Statement of Financial Activities Continued For the year ended 31 March 2025 **Total resources expended Net Income** |**)**
**(7**
**)**
**(18,378**
**8,968**|**-**| |---|---| ||**)**
**(18,483**
**7,034**| 12 of 12 This page does not form part of the statutory financial statements