2025-03-31-accounts

THE MACHYNLLETH TABERNACLE TRUST

Report and Financial Statements

covering the year ended 31st March 2025

THE MACHYNLLETH TABERNACLE TRUST

CONTENTS

REPORT OF THE COUNCIL	1-3
INDEPENDENT EXAMINER'S REPORT	4-5
STATEMENT OF FINANCIAL ACTIVITIES	6
BALANCE SHEET	7-8
NOTESFORMINGPARTOFTHEFINANCIALSTATEMENTS	9-22

THE MACHYNLLETH TABERNACLE TRUST

for the Year Ended 31st March 2025

REPORT OF THE COUNCIL

The Council presents its report and financial statements for the year ended 31st March 2025.

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Name The Machynlleth Tabernacle Trust (also known as MOMA Machynlleth)

Charity Registration Number 517426

Company Registration Number 1999409

Registered Office and Operational Address

Y Tabernacl, Heol Penrallt, Machynlleth, Powys. SY20 8AJ

The Council

The following directors have served as members of the Council during the year and since the year end :

Mr P S O Lambert Mrs S E Marshall Ms HM W Hardy Ms E Stoddard Mr DB Jones

Accountants

Major and Evans, Bull House, 15 Penrallt Street, Machynlleth, Powys. SY20 8AG

Bankers

National Westminster Bank plc, Owain Glyndwr Square, Aberystwyth, Ceredigion. SY23 2NB

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THE MACHYNLLETH TABERNACLE TRUST

REPORT OF THE COUNCIL

for the Year Ended 31st March 2025 Continued

STRUCTURE, GOVERNANCE AND MANAGEMENT

The organisation is a charitable company limited by guarantee, incorporated on 13th March 1986. The company was established under a Memorandum of Association which establishes the objects and powers of the charitable company and is governed 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 directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Council.

Due to the special nature of its activities, the trust's policy is to recruit trustees who have the appropriate experience and qualifications.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

• The objects of the charity as stated by its Memorandum 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 former Methodist Chapel at Machynlleth in the County of Powys, and known as the Machynlleth Tabernacle.

to acquire and preserve for the public benefit any pictures, statues, 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, operas, 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 complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission.

FINANCIAL REVIEW

The Statement of Financial Activities shows total income of £378,720 and expenditure of £398,398 resulting in net expenditure of £19,678.

The net direct costs of staging 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 objectives although a small rental income is also derived from Royal House. Full details of capital expenditure are shown in note 13 to the accounts.

After making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for 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 financial statements.

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THE MACHYNLLETH TABERNACLE TRUST

REPORT OF THE COUNCIL

for the Year Ended 31st March 2025

Continued

DIRECTORS' RESPONSIBILITIES

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure for the financial year. In preparing those financial statements, the directors are required to

• select suitable accounting policies and apply them consistently ;

• make judgements and estimates that are reasonable and prudent ; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue 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 22nd December 2025 and signed on its behalf by :

Dennis B Jone# (Director)

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INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE MACHYNLLETH TABERNACLE TRUST

I report on the accounts of the charitable company for the year ended 31st March 2025, which are set out on pages 6 to 22.

This report is made solely to the company's Directors, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the company's Directors those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Directors as a body, for my work or for this report.

Respective Responsibilities of Trustees and Examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with requirements of the 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 charity's gross income exceeded £250,000 and I am qualified to undertake the examination being a qualified member of the Association of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to :

• ® examine the accounts under section 145 of the Charities Act ;

• ® to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act ; and

• ® to state whether particular matters have come to my attention.

Basis of Independent Examiner's Report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is 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.

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INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE MACHYNLLETH TABERNACLE TRUST

Continued

Independent Examiner's Statement

In connection with my examination, no matter has come to my attention :

• (1) which gives me reasonable cause to believe that in any material respect the requirements :

• = to keep accounting records in accordance with section 386 of the Companies Act 2006 ; and ® to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102)

have not been met ; or

• (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts be reached.

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R W Evans BSc Econ(Hons), FCCA Major and Evans,

,

Chartered Certified Accountants, Bull House, 15 Penrallt Street, Machynlleth, Powys.

22nd December 2025

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THE MACHYNLLETH TABERNACLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account)

for the Year Ended 31st March 2025

		Note		Unrestricted	Unrestricted	Restricted		Endowment	Endowment	Total		Total
				Funds		Funds		Funds		2025		2024
				£		£		£		£		£
INCOME
Donations and Grants		2		164,637		45,316		-		209,953		225,271
Charitable Activities		3		139,855		28,677		-		168,532		191,858
Investments		4		235		-		-		235		11
Total Income				304,727		73,993		-		378,720		417,140
EXPENDITURE
Charitable Activities		9		345,197		53,201		-		398,398		422,913
Net Income/(Expenditure)		11		(40,470)		20,792		-		(19,678)		(5,773)
Transfers between Funds				30,642		(30,642)		-		-		-
Net Movement in Funds				(9,828)		(9,850)		-		(19,678)		(5,773)
Reconciliation ofFunds	:
Total Funds Brought Forward				529,293		646,729		1,354,517		2,530,539		2,536,312
TotalFundsCarriedForward			£	519,465	£	636,879	£	1,354,517	£	2,510,861	£	2,530,539

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THE MACHYNLLETH TABERNACLE TRUST

L

BALANCE SHEET

as_at 31st March 2025

		Note		2025		2024
FIXEDASSETS				£		a
Tangible Assets		13		2,500,511		2,473,125
CURRENT ASSETS
Stock		14	2,979		2,778
Debtors		15	12,752		10,833
Cash at Bank			47,585		81,672
Cash in Hand			237		310
			63,553		95,593
CREDITORS - amounts	falling
due within one year		16	53,203		38,179
NETCURRENTASSETS				10,350		57,414
TOTALNETASSETS			£	2,510,861	£	2,530,539
The Funds ofthe Charity	:
CAPITAL FUNDS
Endowments		17		1,354,517		1,354,517
INCOME FUNDS
Restricted		18		636,879		646,729
Unrestricted		19		519,465		529,293
TOTALFUNDS			£	2,510,861	£	2,530,539

The Balance Sheet continues on the following page.

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THE MACHYNLLETH TABERNACLE TRUST

BALANCE SHEET

as_atMarch31st 2025

continued

The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities 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 accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS 102 SORP.

Approved by the Council of Management on 22nd December 2025 and signed on its behalf OBE Dennis B Jones (Director)

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THE MACHYNLLETH TABERNACLE TRUST

1. Accounting Policies

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 3ist March 2025

a) Basis of Preparation of Financial Statements

The financial statements 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 Republic of Ireland (FRS102) issued in October 2019 - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Machynlleth Tabernacle Trust 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.

b)

Income

All income is recognised once the company has entitlement to the income, it is probable 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 has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or whena distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities 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

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

c) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 Tabernacle building (at its original valuation) together with expenditure on additions, extensions and improvements are capitalised and carried in the balance sheet at historical cost.

Individual fixed assets costing £250 or more are capitalised at cost.

Tangible fixed assets are depreciated on a straight-line basis over their estimated useful lives as follows : Annual Rate Musical Instruments 20% Equipment, Furniture, Fixtures and Fittings 10 - 20%

No depreciation has been provided on freehold property as the assets have a very long useful life and any depreciation charge or accumulated depreciation would not be material.

No depreciation has been provided on certain musical instruments where the residual value is not materially different from the carrying amount of the asset.

The charity owns a collection of works of art which are inalienable (the charity is prohibited by the donor's wishes from disposing of these). These heritage 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 the accounts is justified by the usefulness of the information to the users of the accounts and to the charity for its own stewardship purposes.

• e) Stock

• Stock is included at the lower of cost or net realisable value.

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

f)

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid.

g) Creditors and Provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

h) Financial Instruments

The Trust only has 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.

i) 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 year.

j) Funds

• i) Endowment Funds Grants which have been given to the charity subject to the restriction that they are 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 furtherance of particular aspects of the objects of the charity is separated and treated as restricted funds.

• iii) Unrestricted Funds

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

2. Donations and Grants

a).	Unrestricted Funds
		£
	The Lambert Family Charitable Fund	150,000
	William Cadbury Charitable Trust	2,000
	Other	12,637
		164,637
b).	Restricted Funds
		£
	Wales Council for Voluntary Action	22,424
	Garthgwynion Charities	22,142
	Educational Foundation Donations	750
		45,316

3. Income from Charitable Activities

	Unrestricted	Restricted	Total	Total
	Funds	Funds	2025	2024
	£	£	£	£
Fees	9,376	-	9,376	7,405
Events and Concerts (Note 5)	42,527	-	42,527	44,613
Festival (Note 6)	65,701	3,971	69,672	80,575
Exhibitions (Note 7)	22,251	1,850	24,101	38,703
Royal House (Note 8)	-	22,856	22,856	20,562
	139,855	28,677	168,532	191,858

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

4. Investment Income

Investment Income
	2025	2024
	£	£
Wayleave	1	1
Bank Deposit Interest	234	10
	235	11

5. Events and Concerts

Events and Concerts
	2025	2024
	£	£
Income	42,527	44.613
Expenditure	(36,335)	(31,434)
Profit	6,192	13,179

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

6. Festival

GWYL MACHYNLLETH FESTIVAL (August 2024)

INCOME AND EXPENDITURE ACCOUNT

		2025		2024
		£		£
INCOME
Box Office		33,938		36,606
Donations, Grants and Sponsorship		3,971		4,719
Benefactors		31,763		39,250
		69,672		80,575
EXPENDITURE
Performers' Fees and Expenses		43,244		55,940
Casual Labour		1,644		522
Flowers and Stage Decoration		300		375
Printing, Publicity and Advertising		18,935		19,032
Piano Hire and Tuning		4,989		4.413
Miscellaneous		1,195		557
		70,307		80,839
DEFICIT	a	(635)	£	(264)

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

7. Exhibitions

Exhibitions
		2025		2024
		£		£
INCOME
Sales and Commission		19,941		33,982
Competition Fees		2,310		2,571
Donations, Grants and Sponsorship		1,850		2,150
		24,101		38,703
EXPENDITURE
Curatorial Services		1,000		2,000
Casual Labour		300		-
Merchandise		3,992		4,356
Insurance		2,452		2,452
Packaging and Transport		2,064		3,174
Workshop and Exhibition Fees		-		3,117
Fees and Subscriptions		110		-
Travel and Subsistence		1,026		263
Miscellaneous		244		544
Competition Prizes		3,250		3,250
		14,438		19,156
SURPLUS	£	9,663	£	19,547

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

8. Royal House

Royal House
		2025		2024
		£		£
INCOME
—
Rent Receivable		22,856		20,562
EXPENDITURE
Rates and Water		2,373		1,702
Light and Heat		2,415		3,544
Broadband		470		480
Repairs and Maintenance		1,940		123
Insurance		1,123		2,000
Licences		169		159
Sundry Repairs and Cleaning		6,275		4,072
Letting Agency Fees		3,408		2,928
Bank Charges		16		13
		18,189		15,021
SURPLUS	£	4,667	£	5,541

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THE MACHYNLLETH TABERNACLE TRUST

for the Year Ended 31st March 2025

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

continued

1. Expenditure on Charitable Activities

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |Funds|Funds|2025|2024| |£|£|£|£| |Tabernacle|Running|Costs|(see||below)|229,571|27,091|256,662|274,563| |Events|and|Concerts|(Note|5)|36,335|-|36,335|31,434| |Educational|Foundation|-|2,100|2,100|1,500| |Festival|(Note|6)|66,336|3,971|70,307|80,839| |Exhibitions|(Note|7)|12,588|1,850|14,438|19,156| |Royal|House|(Note|8)|-|18,189|18,189|15,021| |Acquisition|of Works|of Art|367|-|367|400| |345,197|53,201|398,398|422,913| ||Tabernacle|Running|Costs|2025|2024| |£|£| |Staff Costs|:| |Wages|and NI|140,407|167,638| |Pension|Costs|1,475|1,986| |141,882|169,624| |Insurance|11,937|11,455| |Premises|Costs|:| |Rates|and|Water|7,591|6,572| |Light|and Heat|31,586|34,532| |Repairs|and|Maintenance|-|Premises|10,367|11,184| |Sundry|Repairs|and|Cleaning|4,979|5,424| |54,523|57,712| |Postage,|Stationery|and|Marketing|3,824|3,533| |Strategy|and|Business|Planning|-|10,150| |Accreditation|Support|2,640|-| |Volunteer Empowerment|Initiative|22,317|-| |General|Office|Costs|:| |Telephone|and Broadband|4,510|7,134| |Payroll|Services|460|460| |Bank|Charges|839|804| |Credit|Card|Charges|1,978|3,130| |7,787|11,528| |Accountancy|5,500|5,500| |Bad|Debts|787|-| |Depreciation|3,950|3,130| |Miscellaneous|1,515|1,931| |256,662|274,563|

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

10. Independent Examination Fees

Included under accountancy in note 9 are amounts payable to the independent examiner for independent examination of the Financial Statements

2025	2024
£	£
850	850

11. Net Income

This is stated after charging :

	This is stated after charging :
			2025	2024
			£	£
	Depreciation ofTangible	Fixed Assets	3,950	3,130
12.	Staff
			2025	2024
			£	£
	Total StaffCosts Comprised	:
	Wages and Salaries		138,001	158,059
	Social Security Costs		7,277	9,579
	Pension Costs		1,475	1,986
			146,753	169,624

The average number of employees in the year was 5 (2024 - 6).

There were no employees who received emoluments of more than £60,000 (2024 - none).

The directors were not paid or reimbursed for expenses during the year.

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

13. Fixed Assets - Tangible Assets

		Freehold		Musical		Equipment		Total
		Property		Instruments		Furniture
						Fixtures
						& Fittings
		£		£		£		£
Cost
At Ist April 2024		2,431,824		44,035		281,561		2,757,420
Expenditure inYear		-		-		31,336		31,336
Disposals in Year		-		-		-		-
		2,431,824		44.035		312,897		2,788,756
Depreciation:
At Ist April 2024		-		9,265		275,030		284,295
Amount Provided
in Year		-		-		3,950		3,950
Disposals in Year		-		-		-		-
		-		9,265		278,980		288,245
Net Book Value
at 31st March2025	£	2,431,824	£	34,770	£	33,917	£	2,500,511
Net Book Value
at31stMarch2024	£	2,431,824	£	34,770	£	6,531	£	2,473,125

The freehold properties are insured for £6,708,324 which is an estimate of their replacement cost.

The collection of works of art which are inalienable 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 £637,100.

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

14. Stock

Stocks are stated at the lower of cost and net realisable value:

		2025	2024
		£	£
	Books, Catalogues and Postcards	1,771	1,500
	Bar Stock	1,208	1,278
		2,979	2,778
15.	Debtors
		2025	2024
		£	£
	Trade Debtors	5,473	4,638
	Income Tax Recoverable	3,434	3,009
	Prepayments	875	3,186
	Value Added Tax Recoverable	2,970	-
		12,752	10,833
16.	Creditors - amounts falling duewithin one year
		2025	2024
		£	£
	Trade Creditors	29,460	11,309
	Accruals	5,960	5,960
	Value Added Tax Payable	-	562
	Deferred Income - General	3,058	4,923
	Deferred Income - Festival Benefactors	14,725	15,425
		53,203	38,179

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

17. Endowments

Movement in Funds

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||||||||| |---|---|---|---|---|---|---|---| |Balance|Incoming|Balance| |31st March|2024|Resources|Transfers|31st|Mareh|2025| |£|£|£|£| |The ARO|Lambert|Fund|10,000|-|-|10,000| |The|General|Endowment|Fund|390,258|-|-|390,258| |The Nora|Gibbs|and|Mollie|Winterburn| |Bequest|104,778|-|-|104,778| |The|Royal|House|Restoration Fund|849,481|-|-|849,481| |1,354,517|-|-|1,354,517|

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The ARO Lambert fund represents the valuation of the gift to the Trust of the building known as the Machynlleth Tabernacle prior to the carrying 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 restoration of Royal House, Machynlleth.

18. Restricted Funds

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||||||||| |---|---|---|---|---|---|---|---| |Movement|in|Funds| |Balance|Balance| |31st March|2024|Income’|Expenditure|—|31st March 2025| |£|£|£|£| |The|Old|Tannery Appeal|467,028|-|-|467,028| |Glasfryn|Fund|163,932|-|-|163,932| |Educational|Foundation|7,269|750|2,100|5,919| |Auditorium|Sound|System|Fund|8,500|22,142|30,642|-| |Festival|-|3,971|3,971|-| |Exhibition|Funds|-|1,850|1,850|-| |Volunteer Empowerment|Initiative|-|22,424|22,424|-| |646,729|51,137|60,987|636,879|

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THE MACHYNLLETH TABERNACLE TRUST

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

for the Year Ended 31st March 2025

continued

19. Analysis of Net Assets between Funds

Analysis of NetNet Assets between Funds
	Tangible	Net Current
	Fixed Assets	Assets	Total
	£	£	£
Endowments
TheARO Lambert Fund	10,000	-	10,000
The General EndowmentFund	390,258	-	390,258
TheNora Gibbs and Mollie Winterburn
Bequest	104,778	-	104,778
The Royal House Restoration Fund	849,481	-	849,481
	1,354,517	-	1,354,517
Restricted Funds
The Old Tannery Appeal	459,984	7,044	467,028
GlasfrynFund	163,932	-	163,932
Educational Foundation	-	5,919	5,919
Unrestricted Funds	522,078	(2,613)	519,465
	2,500,511	10,350	2,510,861

20. Controlling Party

The company is controlled by its directors, there is no ultimate controlling party.

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