THE MACHYNLLETH TABERYJ ACLE TRUST
Re ort and Financial Statements
eoverin
the
ear ended
31st March 2024

THE MACHYNLLETH TABERNACLE TRUST
NTENTS
REPORT OF THE COUNCIL
INDEPE1¥DE￿ EXAMINER'S REPORT
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE SHEET
li
NOTES FORNUNG PART OF THE FINANCIAL STATEMENTS
9-22

THE MACHYNLLETH TABERNACLE TRUST
REPORT OF THE COUNCIL
for the Year Ended 31st March 2024
The Council presents its re￿rt and fmancial statements for the year ended 31 st March 2024.
REFERENCE AND ADMtNISTRATIVE INFORMATION
Charity NaDJe
The Machynlleth Tabernacle Trust
(also known as MOMA Machynlleth)
Charity Registration Number
517426
Company Registration Number
1999409
Registered Offiee and Operational Address
Y Tabernacl, Heol PenrallL Machynlleth, Powys. SY20 8AJ
The Council
The following directors have served as members of the Council during the year and since
the year end .
MrPSOtanthrt
Mrs S E Marshall
MsHMWHardy
Ms E Stoddard
Mr D B Jones
Aeeountants
MajoT and Evans. Bull House, I S Penrallt Street. MachynIle￿ Powys. SY20 8AG
Bankers
National Westminster Bank plc, Owain Glyndwr Square, Aberystwyth, Ceredigion. SY23 2NB
Solicltors
BrLmton & Co, Mald¥wi House, Machynlleth, Powys. SY20 8A

THE MACHYIYLLETH TABERNACLE TRUST
REPORT OF THE COUNCIL
for tbe Year Ended 31st March 2024
Continued
STRUCTURE, GOVERNANCE AND MANAGEMENT
The organisation is a Gharitable company limited by guarantee, incory)orated on 13th MarGh
1986. The company was established under a Memorandum of Association which establishes
the objects and powers of the chaTitable cornpany and is govcrned under its Articles of
Association. In the event of the company being wound up members are required to contribute
an amount not exceeding £5.
The diT￿tOrS of the company are also charity trustees for the purposes of cbarity law and
under the company's Articles are known as members of the Council.
Due to th¢ special nature of its activiti¢s. the ttvst's policy is to recruit trustees who have the
appropriate experience and qualifications.
ORJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The objects of the charity as stated by its M¢morandum of Association are :.
to acquire and preserve for the public benefit any buildings and land in Wales which are of
historical or architectural interest or are places of natural beauty, and more particularly, to
preserve the fomier Methodist Chapel at Machynlleth in the County of Powys, and kDown as
the Ma¢hynlleth TabeTnacle.
to acquire and pres¢rve for the public bcnefit any pictures, statue5. furniture, books and other
chattels, being of historic or artistic interest.
to advance the aesthetic education of the public in the arts by organising, presenting and
promoting exhibitions, plays, opera4 films, concerts and other similar activities. and
the advancement of education of the public in the study, use and appreciation of the Welsh
language and culture.
In exercising their powers the trustees have cornplied with their duty to have due r¢g8rd to the
guidance on public benefit published by the Charity Corllmission.
FINANCIAL REVIEW
The Statement of Financial Activities shows total income of £417,140 and expenditure of
£422,913 resulting in net expenditure of £5,773.
The net direct costs of stagtng various events at the Tabernacle are shown in notes 5 to 7 to the
accounts.
All the assets as shown in the Balance Sheet are held for the purpose of the Trust's charitable
obj¢ctives alihough a small rental income is also derived from Royal House. Full details of capital
exp¢nditure are shown in note 13 to the accounts.
After making appropriate enquiries, the directors have a reasonable expectation that the company
has adequate Tesources to continue in operational existence foT the foreseeable future, although
funding is primarily dependent on significant voluntary donations. For this reason they continue to
adopt the going concern basis in preparing the financlal statements.

THE MACHYNLLETH TABERNACLE TRUST
REPORT OF THE COUNCIL
for the Y￿r Ended 31st March 2024
Continued
DIRECTORS, RESPONSIBILITIES
Company law requires the directors to prepare fmancial statements for each financial year which
give a true and fair view of the stste of affairs of the cljaritable company as at the balance sheet
date and of its incoming resources and application of resources, including income and expenditure
for the financi￿ year. In preparing those financial statements, the directors are required to
• select suitable accounting policies and apply them consistently >
make judgements and estimates that ar¢ reasonable and prudent . and
prepare the financial statements on the going concern basis unless it 15 inappropriate to
presume that the cotnpany will wntinue to operate.
The directors are responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the company and to enable them to
ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the company and hence for taking reasonable steps for
the prevention and detection of fraud and other irregularities.
The company has taken advantage of the small companies, exemption in preparing the report above.
Approved by the Council of Management on 1st March 2025 and signed on its behalf by .
Dennis B Jone&
ctor)

INDEPEIYDEIYT EXAMINER'S REPORT
TO THE TRUSTEES OF
THE MACHYTr4LLETH TABERNACLE TRUST
I rew)rt on the accounts of the charitable company foT the year ended 3 1st March 2024, which are set out
on pages 6 to 22.
This report is made solely to the companys Directors. as a bodyg in accordance with section 145 of th¢
Chariti¢s Act 2011. My work has been undertaken so that I might state to the company's Directors those
matters l am required to state to them in an Independent Examiner's Report and for no other pu￿OSe. To
the fullest extent pcrrnittcd by law, I do not accept or assume responsibility to anyonc other than the
company and the company's Directors as a body, for my work or for this report.
Re8pective Responsibilities of Trustees and Examiner
The trustees (who are also the directors of the company for th¢ purposes of company law) are responsible
for the preparation of the accounts An accordance with requirements of thc Companies Act 2006. The
trustees consider that an audit is not required for this year under Part 6 of the Companies Act 2006 and
that an independent examination is needed. The charitys gross income exceeded £250,000 and l am
qualified to undertake the examination being a qua]ified rnember of the Association of Chartered Certified
Accountants.
Having satisfied myself that the chaTity is not subje¢t to audit under company law and is ¢ligible for
independent examination, it is my responsibility to .
examine the accounts under section 145 of the Chariti¢s Act '
to follow the procedures laid down in the general Directions given by the Charity Commission
under section 145(5)(b) of the Clwities Act ' and
to stste whether particular rnatte￿ have come to my attention.
Basis of Independent Examiner's Report
My examination wa5 carried out in accordanrx with the general DiTextions given by the C}￿rIty
Conunission. An examination includes a review of the accounting recoTds kept by the clwity and a
comparison of the accounts presented with those records. Et also includes consideration of any unusual
items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such
rnatteTS. The procedures undertaken do not provide all the evidence that would be required in an audit
and consequently no opinion is given as to whether the accounts present a 'true and fair view and the
report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
THE MACHYNLLETH TABERNACLE TRUST
Continued
Independent Examiner's Statement
In connection with my e￿aMinatiO￿ no matter has com¢ to my attention .
(l) which giv￿ me reasonable cause to believe that in any material respect th¢ requirements .
to keep accounting records in acwrdance with section 386 of the Companies Act 2006 . and
to prepare accounts which accord with the ￿coUntIng records, comply with the accounting
requir¢m¢nts of section 396 of the Companies Act 2006 and with the methods and principles
of the Ststcm¢nt of Recommended Practice: Accounting and Reporting by Charities (FRS 102)
have not been tnet ' or
(2) to which, in my Opinio￿ attention shou]d b¢ drawn in order to enable a proper understanding of the
accounts be reached.
R W Evans Bsc Econ(Hons), FCCA
Major and Evans,
Chartered Certified Accountants,
Bull House,
15 Penrallt Street,
Machynllcth.
Powys.
I st March 2025

THE MACHYNLLETH TABERNACLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
includin
income and ex
nditure account
for the Year Ended 31st March 2024
Note
Unrestrided Restricted Endowment
Funds
Funds
Funds
Total
2024
Totsl
2023
INCOME
Donations and Grants
Charitable Activities
Inv¢stments
220,021
164,427
5,250
27,431
225,271
191,858
269,333
136,848
16
Total Income
384.459
32,681
417,140
406,197
EXPENDITURE
Charitable Activities
393,982
28.931
422,913
408,365
Net Ineomel(Expenditure) 11
(9,523)
3,750
(5,773)
(2,] 68)
Trdnsfers between Funds
Net Movement in Funds
(9,523)
3.750
(5,773)
(2,168)
Re¢onciliation of Funds =
Totsl Funds Brought Forward
538,816
642.979
1,354,517
2,536,312
2,538,480
TotalFulldsCarriedForward £ 529293 £ 646,729 £ IJ54,517 £ 2530,539 £ 2,536J12

THE MACIIYNLLETH TABERNACLE TRUST
BALANCE SHEET
at 31st March 2024
F4ote
2024
2023
FIXED ASSETS
Tangible Assets
13
2,473,125
2,473,154
CURREIYT ASSETS
Stock
Debtors
Cash at Bat
Cash in Hand
14
15
2.778
10,833
81,672
310
2.540
11.798
97,998
310
95,593
112,646
CREDITORS - amounts falling
within one year
16
38.179
49,488
ET CURRENT ASSETS
57,414
63,158
TOTAL NET ASSETS
£ 2,530,539
£ 2,536J12
The Funds of the Charity .
CAPITAL FUIYDS
Endowments
INCOME FUNDS
Restricted
Unrestricted
17
1,354,517
1,354,517
18
19
646,729
529.293
642,979
538.816
TOTAL FUIYDS
£ 2J30,539
£ 2536312
The Balance Sheet continues on the following page.

THE MACHYNLLKTH TABERNACLE TRUST
BALANCE SHEET
as at 31st March 2024
continued
The company was entitled to exemption from audit under s477 of the Companies Act 2006
relating to small companies.
The m¢rnbers have not required the company to obtain an audit in accordance with section 476
of the Companies Act 2006.
The directors acknowledge their resp)nsibilities for complying with the requirements of the
Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in a￿ordan¢X with the provisions applicable to small
companies subject to the small companies regime and in accordance with FRS 102 SORP.
Approved by
Council of Management on 1st March 2025 and signed on its behalf
D¢Dnis B Joncs (DI￿CtOr)

THE MACItYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024
l. Accounting Policies
a) Basis of Preparation of Financial Statements
The financial slatements have been prepared in accordance with 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 Repubjic of
Ireland (FRS102) issued in October 2019 - (Charities SORP (FRS 102)). the Financial
Reporting Stsndard applicable in UK and Republic of treland (FRS 102) and the Companies
Act 2006.
The Machynlleth Tabcrnacle Trust meets the definition of a public bencfit entity under FRS 102.
Assets and liabilities arc initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy.
b) Iucome
All income is recognis¢d once the company has entitlement to the income, it is probabl¢ that the
income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware
that probate has been granted, the estate ha5 been finalised and notifi¢ation h&8 been made by the
executorfs) to the Trust that a distribution will be made, or when a distribution is received from
the estate. Receipt of a legacy, in whole or in part. is only considered probable when the amount
can be measuTed reliably and th¢ company has been notified of thc executog5 intcntion to make
a distribution. Mlher¢ Icgacies hav¢ be￿ notified to the company, or the company is aware of the
granting of probate. and the criteria for income recognition have not been mel then the legacy is
treated as a contingent asset and disclosed if material.
Donatsd services or facilities are reCO￿lSed when the company has control over the item. any
conditions associated with the donated item have been m¢L th¢ receipt of economic benefit from
the use of the company of th¢ item is probable and that economic benefit can be measured
reliably. tn accordance with the ChaTiti¢s SORP (FRS 102), general volunteer time is not
recognised.
Income tax recoverable in relation to donations received under Gift Aid is recognised at the
time of the donation

THE MACHIryLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024
Continued
e) Expenditure
Expenditure is recognised once there is a legal or ￿nStruCtive obligation to transfer economic
benefit to a third paty, 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 classified
by activity.
d) Tangible Fixed Assets
The Tab¢rnacle building (at its Ori￿al valuation) together with expendith on additions.
extensions and improvements are capitalised and carried in the balance sheet at historicat cost.
Individual fixd &8sets wsting £250 or rnore are capitalised at cost.
Tangible f￿¢d assets are d¢preciat¢d on a straigbt-line basis over their estimated useful lives
as follows .
Allllu￿ Rate
Musical Instruments
Equipment, Furniture, Fixtures and Fittings
10- 2￿/0
No dq)reciation has been provi(kd on freehold property ￿ the assets have a very Ions useful
life and any depreciation charge or accumulated depreciation would not be material.
No depreciation has been provided on certain musical instnm]ents where the residual value is
not materially different from the carrying amount of the asseL
The charity owns a collection of works of art which are inalienable (the charity is prohibited by
the donols wishes from disposing of these). These heritsge assets are of historical or artistic
importance and are held to advance the presentation and educational objectives of the charity,
and through public access contribute to the nation's culture and education. The original cost of
most of these assets is not available and the directors do not consider the cost of carrying out a
professional valuation to include these assets at a value in th¢ accounts is justified by the
usefulness of the iDfornMtion to the useTS of the accounts and to the cl]arity for its own
stewardship purposes.
e) Stock
Stock is includ¢d at the lower of cost or net realisablc value.
10-

THE MACHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
for the Year Ended 31st Mareb 2024
eontinued
fj Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount pr¢paid.
Creditors and Provisions
Creditors and provisions are recogDi5ed where the ¢]wity has a pres¢nt obligation resulting
from a past event that will probably result in the transfer of funds to a third paty and the
an]ount due to settle the obligation can be measured or estimated reliably. Creditors and
provisions are nonnally reco￿lIsed at their settlement amount after allowing for any trade
discounts due.
b) Financial Instruments
The Trust only h&8 financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value
and subsequently measured at their settlement value.
Pensions
The charity contributes to employees, pension plans and the pension charge represents the
amounts payable by the charity to the plans in respect of the y¢ar.
j) Funds
i) Endowrnent Funds
Grants which hav¢ been given to the charity subject to the restriction that they to be
used to purchase or enhance the capital assets are treated as endowment funds.
ii) Restricted Funds
Income received from public sector bodies and others to be used in fi￿erance of
particular aspects of the objects of the charity is separated and treated as restricted funds.
iii) Unrestricted Funds
Unrestrictcd funds are donations and other incoming resources rcccivable or generated
for the objects of the charity without fiuth¢r specified purpose alld are available as
general fLmds.

THE MACHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024
continued
2. Donations and Grants
a). Unrestrieted Funds
The Lambert Family Charltsble Fund
Welsh Government Grants (Cost of Living)
William Cadbury Charitable Trust
Other
200,000
8,000
1,000
11,021
220,021
b). Restrictcd Funds
Educational Foundation Donations
Glasfryn Fund
4,500
750
5,250
3. Income from Charltable Activities
Unrestricted Rcstrict¢d
Funds
Funds
Total
2024
Total
2023
Fees
Events and Concerts (Note 5)
Festival (Note 6)
Exhibitions (Not¢ 7)
Royal House (Note 8)
7,405
44,613
75,856
36,553
7,405
44.613
80,575
38,703
20,562
6.478
31,619
43,861
30,226
24,664
4,719
2,150
20,562
164,427
27,431
191,858
136,848
l2

THE MACHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024
continued
4. Investment Ineome
2024
2023
Wayleave
Bank Deposit tnterest
10
15
16
S. Events and Concerts
2024
2023
Income
44,613
31,619
Expenditur¢
(31,434) (21,737)
Profit
13,179
9,882
13-

THE MACHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINAN
STATEMENTS
for the Year Ended 31st March 2024
continued
6. Festival
ryL MACHYNLLETH FESTIVAL
st 2023
INCOME AND EXPEIYDIT
RE ACCOUNT
2024
2023
COME
Box Office
Donations, Grants and Sponsorship
Benefadors
36,606
4,719
39.250
29.541
3.808
10.512
80J75
43,861
PerfonneTS' Fees and Expenses
Casual Labour
Flowers and Stage Decoration
Printing, Publicity and Adv¢rtising
Fees and SUb￿lptions
Piano Hire and Tut]ing
Miscellaneous
55,940
522
375
19,032
57,412
250
8.380
155
4J68
79
4.413
557
80,839
70,644
DEFICIT
264
6,783
14-

THE MACHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
for the Y Ended 31st March 2024
continu
7. Exbibitions
2024
2023
INCOME
Commission
Shop Sales and Sundry Income
Competition Fees
Donations, Grants and Sponsorship
26,887
7,095
2,571
2,150
19,466
3,574
2,336
4,850
38,703
30226
EXPENDITURE
Curatorial Services
Merthandise
Insurance
Packaging and Trdnsport
Workshop and Exhibition Fees
Fees and Subscriptions
Travel and Subsistence
Miscellaneous
Comp¢tition Prizes
2,000
4,356
2,452
3,174
3,117
3,068
4.030
2,389
3,347
110
608
263
544
3.250
3,250
19,156
16802
SURPLUS
19,547
13,424
15

THE MACHYIYLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMEIYTS
for Ihe Year Ended
1st March 2024
continued
8. Royal House
2024
2023
COME
Rent Receivable
20,562
24.664
EXPE]WITURE
Rates and Water
Light and Heat
Broadband
Repairs and Maintenance
1,702
3,544
480
123
2,000
159
4.072
2,928
13
1,987
1.338
220
1,808
159
3.566
3,673
14
Licences
Sundry Repairs and Cleaning
l£tting Agency Fees
Bank ChaTges
15,021
SIIRPLUS
5541
11,899
16-

THE MAC]IYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCLIL STATEMENTS
for tbe Year Ended 3181 March 2024
continued
9. Kxpenditure on Charitable Activities
Unre8trict¢d Restricted
Funds
Funds
Totsl
2024
Total
2023
Tabernacle Running Costs (w * below) 269,022
Events and Concerts (Note 5)
31,434
Educational Foundation
Festival (Note 6)
Exhibitions (Note 7)
Royal House (Note 8)
Acquisition of Works of Art
5,541
274,563
31,434
1,500
80.839
19,156
15,021
400
250,885
21,737
4,200
70,644
16,802
12,765
31,332
1,500
4,719
2,150
15,021
76,120
17,006
400
393,982
28,931
422,913
408,365
Tabernacle Runni
os
2024
2023
Stsff Costs:
Wages andNI
Pension Costs
167,638
1,986
158,020
2,257
169,624
11,455
160,277
10,272
]nsurance
Premises Costs .
Rates and Water
Light and H¢at
Rq)airs and Maintenance - Premises
Sundry Repairs and Cleaning
6,572
34,532
11,184
5,424
6.381
25,771
9,975
9,733
57,712
3.533
51,860
4,583
400
7,142
Postage, Ststionery and Marketing
Website Development
Strategy and B￿lnesS Planning
General Office Costs .
Telephon¢ and Broadband
Payroll Services
Bank Charges
Credit Card Charges
10,150
17,134
460
804
3,130
3.681
10
756
2,626
11,528
5,500
3,130
1,931
7,073
5.500
2.722
1.056
Accountancy
Depreciation
Miscellaneous
274,563
250,885
17

THE TrL4CHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024
eontinued
10. Independent Examination Fees
2024
2023
tncluded under accountancy in note 9 are amounts payable to the
independent examiner for independent exarnination of the Financial
ststement5
850
850
11. Net Income
This is stated after charging .
2024
2023
Depreciation of Tangible Fixed Assets
3,130
2,722
12. Stsff
2024
2023
Total Staff Costs Comprised .
Wages and Salarics
Social Security Costs
Pension Costs
158,059
9,579
1.986
169,624
148,936
9,084
2,257
160,277
Th¢ average number of employees in the year was 6 (2023 - 6).
There were no employees who received emoluments of more than £60,000 (2023 - none).
The directors were not paid or reimbursed for expenses during the year.
18-

THE MACHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
for the Year Ended 31st Mar
b 2024
eontlnued
13. Fixed Assets - Tangible Assets
Freehold
Property
Musical
Instruments
Fquipment
Furniture
Fixtures
& Fittings
Total
Cost
At 1st April 2023
Expenditure in Year
Disposals in Year
2,431,824
44,035
278,460
3.101
2,754,319
3,101
2.431,824
44,035
281,561
2.757,420
Depreciation:
At 1st April 2023
Amount Provided
in Year
Dis￿SaIS in Year
9,265
271,900
281,165
3.130
3,130
9265
275,030
284,295
Net Book Value
at 31 st March 2024
£ 2,431,824 £
34,770 £
6531 £ 2,473,125
Net Book Value
at 31st March 2023
£ 2,431,824 £
34,770 £
6,560 £ 2,473,154
The fre¢hold properties are insured for £6,544,661 which is an ¢stimate of their replacement cost.
The collection of works of art which are ina]ieDable has not been included in the balance
sheet because. in the opinion of the directors, the cost of professionally valuing these assets
outweighs the benefits to the users of the accounts. They are insured for £537,100.
19-

THE MACHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FIIYANCIAL STATEMENTS
for the Year Ended
March 2024
14. Stock
Stocks are stated at the lower of cost and net realisable value:
2024
2023
Books, Catslogues and Postcards
Bar Stock
1,500
1278
1,800
740
2,778
2,540
15. Debtors
2024
2023
Trade Debtors
Income Tax Recoverable
Prepayments
4,638
3,009
3,186
2,416
8,767
615
10.833
11,798
l& Creditors - amounts falling due withill one year
2024
2023
Trade Creditors
Taxation and Social SecuTity
A¢¢n￿S
Value Add¢d Tax Payable
Deferred Income - General
Deferred Income - Festival Benefactors
11,309
7.643
3,124
5,960
8,093
5,118
19.550
5,960
562
4,923
15,425
38,179
49,488
-20-

THE MACHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMEIYIS
or th Year Ended 31st March 2024
continued
17. Endowmenls
Movement in Funds
Balan¢e
31st Martb 2112)
Incoming
Resources Transfers
Balance
31it Trl*r¢h 2024
The ARO Lambert Fund
The General Endowment Fund
The Nora Gibbs and Mollie Winterburn
Bequest
The Royal House Restoration Fund
10,000
390.258
10,000
390,258
104,778
849,481
104,778
849.481
1,354.517
1,354,517
The ARO Lambert fund repres¢nts the valuation of the gift to the TnL8t of the building known
as th¢ Machynlleth Tabernacle prior to the canying out of repairs and restoration works.
The General Endowment Fund consists of various grants received from public sector
organisations, trusts, foundations and individuals towards the cost of improvements and
additions to visitor facilities, buildings. equipment and other tangible assets.
The Nora Gibbs and Mollie Winterburn Bequest was received by way of legacy.
The Royal House Restoration Fund consists of various grants received from public sector
organisations to fund the acquisition and restoraiion of Royal House, Machynlleth.
18. Restricted Funds
Movement in Funds
Balance
31itM•r¢h 2023
Balanee
Income Expellditur¢ 31st marc￿ 2024
The Old Tannery Appeal
Glasfyn Fund
Educational Foundation
Auditorium Sound System Fund
Festival
Exhibition Funds
467,028
163,182
4,269
8.500
467,028
163,932
7,269
8,500
750
4,500
1,500
4,719
2,150
4.719
2.150
642,979
12,119
8,369
646,729
21

THE MACHYNLLETH TABERNACLE TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024
conlinued
19. Anatysis of Net Assets between Funds
Tangible
FIX￿ Assets
Net Current
Assets
Total
Endownients
The ARO Lambert Fund
The General Endowment Fund
The Nora Gibbs and Mollie Winterburn
Bequest
The Royal House Restoration Fund
10,000
390,258
i 0,000
390.258
104,778
849,481
104,778
849,481
1,354.517
1,354,517
Restricted Funds
The Old Tannery Appeal
Glasfryn Fund
Educational Foundation
Auditorium Sound System Fund
459,984
163,932
467,028
163.932
7269
8,500
7,269
8,500
Unrestricted Funds
494,692
34,601
529,293
2.473,125
57,414
2.530,539
20. Controlling Party
The Company is controlled by its directors. ther¢ is no ultimate controlling paty.