NEUADD DYFI TRUSTEES, ANNUAL REPORT AND ACCOUNTS cov¢rin the ear ended 31st March 2024
NEUADD DYFI CONTENTS Page TRUSTEES, ANNUAL REPORT IIYDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET NOTES TO THE ACCOUNTS 9-12
NEUADD DYFI TRUSTEES, ANNUAL REPORT for the Ye Ended 31st March 2024 The committ¢e presents its report and accounts for the year ended 31 st March 2024. REFERENCE AND ADMINISTRATIVE INFORMATJON Charity Name Neuadd Dyfi Charity Registration Number 519879 Correspondence Address l Aber Villas, Ab¢rdyfi, LL35 OHR Trustees The following have served as Irustees during the year and since then: Megan Reynolds John Reynolds David Williams (Vice-Chairn)an) Desmond Brian George (Chaim]an) Dewi Owen Trevor Lumley Anthony John MacGregor-Bowron Louis Hiatt Sandy Andrews Biian K¢lly Gillian Miranda Jan Rajput Catrin Oweill lan Hewins
NEUADD DYFI TRUSTEES, ANNUAL REPORT for Ihe Yegr Ended 31st March 2024 eontinmed STRUCTURE GOVERNANCE AND MANAGEMENT The eharlty is a trust governed in accordance with a lease and trust deed dated 24 December 1986 and amended 15th Septemlxr 2009. The Iruslees are selected from :_ up to six Community councillors two county councillors eight members of user groups six interested individuals Th¢ committee at the first ordinary meeting in each year after the annual g¢neral meeting, elect a chairn]an and may elect a vice-chairnlan of their meetings. The chainnan and vice-chaim)an remain in office until their respective successors are elecied. The Charity, the Trust Property and the trust fund are administered by the Committee. OBJECTIVES AND AcfiviTJES The object of the charlty is the provision and maintenance of a village hall for the use of the inhabitants of the community of Aberdyfi and neighbouring areas withoui distinction of political, religious or other opinion, including use for meetings, lectures and classes and other fornis of recreation and leisure time occupation wilh the object of improving the condilions of life for th¢ said inhabitants. ACHIEVEMENfs AND PERFORMANCE As in previous years duTing 2023 to 2024 the Management Committee has worked to provide a community resource for a broad speclrum of community users, maintain. d¢velop and improve our Assets. Summary of ihe main achieven]ents of Ihe charity - Link¢d in with the roof was the inclusion of 27kw BIPVCO photo voltaic panels. These are now oTatiOnal, however the problems with getting the system registered with British Gas were enormous. Regular maintenance has continued with additionreplaCeMent of various pieces of equipment. such as more tables and a new kitchen hot water system. UndeIning many of the projects IS OUT 2022 business plan which be seen on our website www.neuadddyfi.org. Much of this has grown out of Aberdyfi Community survey.
NEUADD DYFI TRUSTEES, ANNUAL REPORT for Ihe Year Ended 31st March 2024 continued ACHIEVEMEI¥TS AND PERFORMANCE (cont. ) Bookings continue to grow with the hall p¢rforniing as it w&5 designed. a venue for a wide rang¢ of community events, Notably we have had - Art exhibitions Criw Celf junior art classes returning Young fam]¢rs Eisteddfod A number of Arts Council sponsored shows Community lunches Aberdffi Players putting on their 29th pantomime "Trouble in Panlo Land" Drop in centre providing a very welcome safe meeling place for many Numerous other meetAngs and events Financially, we are in a reasonabl¢ position with ail roof payments made including the 2.50/0 retention paid. On 31st March 2024 w¢ had £16,926 in the deposit account and £1,906 in the current account. What next? Continue investigaling flatt¢ning the floor and installing a new sealing system Review policies and procedures and how the Neuadd Dyfi is managed ContTnue to maintain and improve our hall Things have been happening. mainly positiv¢. Finance - The 2023 accounts were examined by Major and Evans and were submitted to the Charity Commission. We have benefitted from an annual donation of £5,000 from the Aberdyfi Advertising and Improvements Committee and an anticipated Community Council precept and donation from tb¢ ¢ar park. So some room foT long terni maintenance and buffer for repairs etc New PV Panels - These continued to perfonn well producing on average about IOOkwh per day. It was a battIe getting them registered with Srnart Energy Export scheme. This finally completed in the autumn. We are now ¢aming 15p per kwh (initially 6.4}. We produced about 18,OOOkwh exporting about 16,000. Most Eting produced in the swi]mcr daytime. Howev¢r. nothing was produced most of December and January into February as we had an issue with the inverter which was replaced under waantY. Then a bombshell! British Gas declared that there was an error in the registration and that all the RHI paym¢nts needed to be refunded. Ai year end a dispute was ongoing.
NEUADD DYFI TRUSTEES, ANNUAL REPORT for the Year Ended 31st March 2024 continued ACHTEVEMENTS AND PERFORMANCE (conl. ) Things have been happening, mainly positive (cont.) . The roof - This perforn)s well, noise is r¢du¢ed and it stsys cooler inside longer on hot days and no leaks. Sitting in the meeting room there are occasional rumbles but apparently quite norn]al and a good thing as the roof heats and expands and inevitsbly moves. Bookin - These continue lo come in at a reasonable rate. We have lost a fcw such as Glee Club and blood donalions. The junior art classes Continue with their monthly sessions, Young Farniers Eisteddfod and of course pantomime. Sarah Verity Dance show was a great success as was a long dislance cycle ride rest and feeding point, 150 cyclists went from Cardiff to Menai Bridge and back again via Neuadd Dyfi. We continue our link up with the Arts Council with good audIe¢S, Mid Wales opera and part of the rural dance initiative. Various shows are booked going into Spring. The aTden - Bobby Nickless and Lindy Tallis have been doing a great job with the gardell. the whole place looks cared foi at a very modest cost. ui ment - The Aberdyfi Players have filljded an upgrade of our sound and lighting control equipment. A new FLX lighting desk and a new Allen and Heath sound desk with digital slage boxes. Cost £7,500. As part of an outreach project we have be¢n working with the two Tywyn schools who have invested in some lighting bars and sound circa. We have had a company install two lighting bars at bolh schools and additional sound equipment approx. £10,000 each. For many years we have helped them out and youngslers have learned from this and helped at NeLMdd Dyfi events and gone onto careers in the industry. It has always been an awkward proc¢ss. We would lik¢ to make further additions to OUT lights to allow n]ore flexibility. Cleanin - After a curious replacement cleaner for Kay who never turned up. Clare Strange has now taken on the role. She is enthusiastic and very tlexible on limes, often coming in at 6 in the moming. Policies - These are still on the agenda. Work in hand- Sev¢ral projects need budgeting for- New hot water system for the kitchen Some extemal and some internal painting and decoration Sand and refurbishment of the two wooden floors Future ro ecls - Flattening the main hall needs some serious consideration, open lor other ide&8. Having done front of hous¢ for the pantomime l can definitely see that improvemenls can be made.
NEUADD DY TRUSTFES, ANNUAL REPORT for the Year Ended 31st March 2024 continmed ACHIEVFMENTS AND PERFORMANCE (cont. ) Things have been happening, matnly positivc (conl.) . The environmental audit done with the help of Cympas and funding througb Social Business Wales WIiM Ltd has produc¢d some policies and targets for improving operalions. There is also the Plastic Free Aberdyfi initiative that l as chair would like the US¢TS of the hall to work towards achieving. None of these ar¢ a quick fix. FINANCIAL REVIEW The Statement of Financial Activities shows total income of £34,983 and expenditure of £50,739 resulting in net expendtture £15.756. The unrestricted funds show a surplu5 of £9,210 and the restricled funds show a loss of £24.966. Capital exp¢nditure during 2024 was £7.010 (2023 - £279,619). PUBLIC BENEFIT STATFMENT In exercising th¢ir powers the trustees have complied with their duty to have du¢ regard to the guidance on public benefit published by the Charity Commission. e(C an) o/
NEUADD DYFI INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES for the Year Ended 31st Mareh 2024 I report on Ihe accounts of the charity for the year ¢nd¢d 3 1st March 2024, which are set out on pages 7 to 12. RESPEcfivE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The charity's trustees are responsible for th¢ preparation of the accounts. The charity's trustees consider thal an audit is not required for this year under s¢¢tion 144 of the Charities Act 2011 (the Charities Act) and that an independenl examination is necd¢d. It is my responsibilily to: Examine the accounts under s¢ction 145 of the Charities Act, To follow the procedures laid down in the general Directions given by th¢ Charlty Cornmission (under section 145(5){b) of the Clwities Act), and To state whether particular matters have come to my attention BASIS OF JNDEPENDENT EXAMINER'S STATEMENT My examination was carried out in accoraance with the general Directions given by the Charity Commission. An examination includes a T¢view 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 ilems or disclosures in the accounts, and seeking explanations from the 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 lo ihose matt¢rs set out in the statement below. INDEPENDENT EX4MINER'S STATEMENT In connection with my examination, no material matters have corne to my attention which gives m¢ cause to believe that in, any material respect . the accounting records were not kept in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records. or the accounts did not comply with the applicable requirements concerning the forn] and content of a¢counts 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 nol a rnatteT considered as part of an independenl ¢xaminatton. I have no concerns and have come across no other matters in conn¢ction with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the a¢counts to be reached. vans Bsc Fcon(Hons), FCCA Major and Evans, Chartered Certified Accountants, 15 Penrallt Street, Machynlleth, Powys. Date .
NEUADD DYFI STATEMENT OF FINANCIAL ACTlVtTIES for the Year Ended 31st March 2024 Reslrieted Ineome funds Unreslrieted funds Total funds 2024 Total funds 2023 Notes INCOME Grants and Awards Donalions Pr¢mises Hire Sale of EltrICity Cu]tural Event Income Bank Interest 250,648 10.958 14,565 1.788 5,926 252 10,277 13.361 5,213 5,890 242 10,277 13.361 5,213 5,890 242 Total income 34.983 34,983 284,137 EXPENDITURE Water Electricity and Gas Repairs, Renewals and Maintenance Cl¢aning Internet Licences and Subscripiions Insurance Sundry Exp¢nses Financial Fees and Cliarges Aecountancy Cultural Event Costs Community Needs Survey Depreciation 551 7,430 4.347 2,257 731 928 3,847 551 7,430 4,347 2,257 731 928 3,847 527 6.343 9,176 ,932 565 401 4.182 183 180 126 1,000 4,556 126 1,000 4,556 3,408 24,966 24,966 25,605 Total expenditure 25,773 24,966 50,739 54,182 NET INCOMEI(EXPENDITURE) 9,210 (24,966) (15,756) 229,955 TOTAL FUNDS BROUGHT FORWAIU) 97,233 728,789 826.022 596,067 TOTAL FUNDS CARIUED FORWARD 106,443 703,823 810,266 826,022
NEUADD DYFI BALANCE SHEET as at 315 rch 20 2024 2023 Notes FIXED AS.SETS Tangible Assets 789,749 807,705 CURRENT ASSETS Debtors Ch at bank 2,685 18,832 21,517 3.162 16,192 19.354 CREDITORS . amounts falling due within one year (1.000) (1,037) NET CURRENT ASSETS 20,517 18,317 TOTAL ASSETS LESS CURRENT LIABILITIES 810.266 826,022 CREDITORS: amounts falling due aft¢r more than one year NET ASSETS 810,266 826,022 FUNDS OF THE CHAIUTY Unrestricted Funds Restricted Income Funds 106.443 703,823 97,233 728,789 810,266 826,022 Signed by the following tteeS on behalf of all the trustees: Signatu Print Name Date of Approval
NEUADD DYFI NOTES TO THE FINANCIAL STATEMENTS for the Yea nded 31st Vdreh 2024 l. Basis of Accounting These accounts hav¢ been prepared under the htstorical cost convenlion with it¢ms recognised at cost or transaction valu¢. The accounts have been prepared in accordance with the Sthternent of Recommended Practic¢ . Accounting and Reporting by Charities preparing their accounts in accordance with the Financtal Reporting Slandard applicable in the UK and Republic of Ireland (FRS102) the Financial Reporting Siandard applicable in the United Kingdom and Republic of Ireland (FRS102} and with the Charities Act 2011 The charity constitutes a public benefit entity as defined by FRS102. 2. AccouDting Policies a) Income This is included in the Slat¢ment of Financial Activities (SOFA) when the charity becomes entitled to the resouwes, it is more likely than not the trust¢es will receive the resources and the rnonetary value can b¢ measured with sufficient reliability There has been no offsetting of income and expenses. b) Expenditure aDd Liabilities Liabiltties are recognised where it is more likely than not thai there is a legal or constructive obligation conllnitting the charity to pay out reSou¢S and the amount of the obligation can be measured with reasonable certainty. e) Assets Tangibl¢ fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimaled residual value over their expected useful lives as follows . i) Freehold Buildings 20/0 per annum straight line basis ii) Fixtures, Fittings and Equipment . 30/0 per annum slraight line basis iii) Fixtures, Fittings and Equipment 150/0 per annum reducing balance basis
NEUADD DYFI NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st March 2024 3. Grants and Awards 2024 2023 Restricted DTA Wales Welsh Government - Community Facilities 648 250,000 250,648 Unrestricted Gwynedd Council Business Grant (Covid) Others (up to £1,000 each) 4. Donations 2024 2023 Re8tri¢ted Richard Williams Trust Richard Roberts Trust Aberdyfi Advertising and Improvements Committee Unrestrlcted Aberdyfi Community Council Aberdyfi Advertising and Improvements Committee Others {up to £1,000 each) 4,091 5.000 1,186 4,894 5,000 1,064 10.277 10,958 10-
NEUADD DYFI NOTES TO THE FINANCIAL STATEMENTS r the Year Ended 31stMarch 2024 5. Tallgible Fixed Assets Fixtures, Freehold L9nd Filtings and Computer and Buildings Equipment Equipment Total Cost At I st April 2023 Expenditure in Year 645,646 339,577 7,010 346.587 712 985,935 7.010 992,945 645.646 712 Depreciation At 1st April 2023 Charg¢d in Year 82,033 12,913 94,946 95,817 11,943 107.760 380 iio 490 178,230 24,966 203,196 At 31st MArch 2024 551).700 238,827 222 789,749 The land and buildings known as Neuadd Dyfi, Aberdyfi is v¢sted in the oificial Custodian for Charities. Neuadd Dyfi is insured for £2,038,234 which is an estimate of its r¢placem¢nt cost. 6. Debtors 2024 2023 Premises Hire Insurance Prepayment 391 2,771 2,685 2,685 3,162 7. Creditors: amounts falling due within one year 2024 2023 Trade CTeditors Accruals 37 1,000 1,000 1,000 ,037
NEUADD DYFI NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31stMareh 2024 8. Restrieted Income Funds Th¢ only restricted incom¢ fund is the N¢uadd Dyfi Redevelopment Project. 9. Analysis of Net Assets Belween Funds Unr¢strieled Restricted Funds Funds Totrdl Fixed Assets Nei Current Assets Creditors due in more than one year 789,749 (85,926) 789,749 20,517 106,443 Totsl Net Assets 106,443 703023 810266 12