NEUADD DYFI TRUSTEES, ANNUAL REPORT AND ACCOUNTS eoverin the ear ended 31st March 2024
NEUADD DYFI CONTENTS Page TRUSTEES, ANNUAL REPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET NOTES TO THE ACCOUNTS 9-12
NEUADD DYFI TRUSTEES, ANNUAL REPORT for the Year Ended 31st March 2024 The committee presents its report and accounts for the year ended 31 st March 2024. REFERENCE AND ADMINISTRATIVE INFORMATION Charity Name Neuadd Dyfi Charity Registration Number 519879 Correspondence Address l Abcr Villas, Aberdyfi, LL35 OHR Trustees The following have served as trustc¢s during the year and since then: Megan Reynolds John Reynolds David Williams (Vice-chairnian) D¢smond Brian George (Chairn]an) Dewi Owen Trevor Lumley Anthony John MacGregor-Bowron Louis Hiatt Sandy Andrews Brian Kelly Gillian Miranda Jan Rajput Catrin Oweill Ian Hcwins
NEUADD DYFI TRUSTEES, ANNUAL REPORT for the Year Ended 31st March 2024 continued STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is a trust governed in accordance with a lease and trust deed dated 24 December 1986 and amended 15th September 2009. The trustees are selected from :_ up to six community councillors two county councillors eight members of user groups six interestcd individuals Thc committee at the first ordinary mccting in each year after the annual general meeting, elect a chairnian and may elect a vice-chairnian of their mcetings. The chairn]an and vice-chainnan remain in office until their respective successors are elccted. The Charity, the Trust Property and the trust fund are administer¢d by the Con]mittee. OBJECTIVES AND ACTIVITIES The object of the charity is the provision and maintenance of a village hall for the use of the inhabitants of the community of Aberdyfi and neighbouring areas without distinction of political, religious or other opinion, including use for meetings, lectures and classes and other forn]s of recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants. ACHIEVEMENTS AND PERFORMANCE As in previous years during 2023 to 2024 the Management Committee has worked to provide a community resource for a broad spectrum of cojnmunity users, maintsin, develop and improve our Assets. Summary of the main achievements of the charity - Linked in with the roof was the inclusion of 27kw BIPVCO photo voltaic panels. These are now opcrational, however the problems with gctting the system registered with British Gas were enorn]ous. Regular maintenance has continued with additionslreplacement of various pieces of equipment, such as more tables and a new kitchen hot water system. Underpinning many of the projects is our 2022 business plan which can be seen on our website www.neuadddyfi.org. Much of this has grown out of Aberdyfi Community survey.
NEUADD DYFI TRUSTEES, ANNUAL REPORT for the Year Ended 31st March 2024 continued ACHIEVEMENTS AND PERFORMANCE (cont. ) Bookings continuc to 0W with the hall perforn]ing as it was designed, a venue for a wide rangc of comrnunity events. Notably wc have had - Art exhibitions Criw Celf junior art classes returning Young fanners Eisteddfod A number of Arts Council sponsored shows Community lunches Aberdyfi Players putting on their 29th pantomime "Trouble in Panto Land" Drop in centre providing a very welcome safe meeting plac¢ for many Num¢rous other meetings and events Financially, we are kn a reasonable position with all roof payments made including the 2.50/0 retention paid. On 31 st March 2024 we had £16,926 in the deposit account and £1,906 in the CUent account. What next? Continue investigating flattening the floor and installing a new seating system Review policies and procedures and how the Neuadd Dyfi is managed Continue to maintain and improve our hall Things have been happening, mainly positive. 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 thc Aberdyfi Advertising and Improvemcnts Committee and an anlicipated Community Council precept and donation from the car park. So some room for long tern] maintenance and buffer for repairs etc New PV Panels - These continued to perforn] well Producing on averdge about l Ookwh per day. It was a battle getting them registered with Smart Energy Export scheme. This rinally completed in the auturnn. We are now earning 15p per kwh (initially 6.4). We produced about 18,OOOkwh exporting about 16,000. Most bcing produced in the suii]mer daytime. However, nothing was produced most of December and January into February as we had an issue with the inverter which was replaced under warranty. Then a bombshell! British Gas declared that there was an error in the registration and that all the RHI payments needed to be refunded. At year end a dispute was ongoing.
NEUADD DYFI TRUSTEES, ANNUAL REPORT for the Year Ended 31st March 2024 continued ACHIEVEMENTS AND PERFORMANCE (conl. ) Things have been happening, mainly positive (cop7t.) . The roof - This perforn]s well, noise is reduced and it stays cooler inside longcr on hot days And no leaks. Sitting in the meeting room there are occasional rumbles but apparently quitc nornial and a good thing as the roof heats and expands and inevitably moves. Bookin - These Contin to come in at a reasonable rate. We have lost a few such as Glcc Club and blood donations. The junior art classes continue with their monthly sessions, Young Fanners Eisteddfod and of course pantomime. Sarah Verity Dance show was a great success as was a long distance cycle ride rest and feeding point, 150 cyclists went from Cardiff to Menai Bridge and back again via Neuadd Dyfi. We continue our llnk up with the Arts Council with good audiences, Mid Wales opera and part of the rural dance initiative. Various shows are booked going into Spring. * The arden - Bobby Nickless and Lindy Tallis have been doing a great job with the garden, the whole place looks cared for at a very modest cost. ui ment - The Aberdyfi Players have funded an upgrade of our sound and lighting control equipment. A new FLX lighting desk and a new Allen and Heath sound desk with digital stage boxes. Cost £7,500. As part of an outreach project we have been 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 both schools and additional sound equipment approx. £1 0,000 each. For many years we have helped them out and youngsters have learned from this and helped at Neuadd Dyfi events and gone onto careers in the industy. It has always been an awkward process. We would like to make ftrther additions to our lights to allow more flexibility. Cleanin - After a curious replacement cleancr for Kay who never turned up, Clare Strange has now taken on thc rol¢. She is enthusiastic and very flexible on times, often coming in at 6 in the morning. Policies - These are still on the agenda. Work in hand - Several projects need budgcting for - New hot water system for the kitchen Some external and some internal painting and dccoration Sand and refurbishmcnt of the two wooden floors Future ro ects - Flattening the main hall needs some seTiOUS consideration, open for other ideas. Having done front of house for the pantomime I can definitely see that improvements can be made.
NEUADD DYFI TRUSTEES, ANNUAL REPORT for the Year Ended 31st March 2024 continued ACHIEVEMENTS AND PERFORMANCE (cont. ) Things have been happening. mainly positive (cont.) . The environmental audit done with the help of Cympas and funding through Social Business Wales WRM Ltd h&$ produced some policies and targets for improving operations. There is also the Plastic Fre¢ Aberdyfi initiative that I as chair would like the users of the hall to work towards achieving. None of these are a quick fix. FINANCIAL REVIEW The Statement of Financial Activities shows total income of £34,983 and expenditure of £50,739 resulting in net expenditure £15,756. The unrestricted funds show a surplus of £9,21 O and thc restricted fLmds show a loss of £24,966. Capital expenditurc during 2024 was £7.010 (2023 - £279,619). PUBLIC BENEFIT STATEMENT 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. ge(C an) o/
NEUADD DYFI INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES for the Year Ended 31st March 2024 I report on the accounts of the charity for the year ended 31 st March 2024, which are set out on pages 7 to 12. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AI¥D EK4MINER The charÉty's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under scction 144 of the Charities Act 2011 (the Charities Act) and that an indcpendent examination is necded. It is my responsibility to: Fxamine the accounts under section 145 of the Charities Act, To follow the procedures laid down in the g¢neral Directions given by thc Charity Commission (under section 145(5)(b) of the CIMrities Act), and To state whether particular mattcIs have come to my attention BASIS OF INDEPENDENT EXAMINER'S STATEMENT My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includcs 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 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 vÉew' and the report is limited to those matters set out in the statement below. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no material matters have come to my attention which gives me 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 forni and contcnt of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts giv¢ 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 mattcrs in com]ection with the examination to which attention should bc drawn in this report in order to enable a proper understanding of the accounts to be reached. R W Evans Bsc Econ(Hons), FCCA Major and Evans, Chartered Certificd Accountants, 15 Penrallt Street, Machynlleth, Powys. Date .
NEUADD DYFI STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2024 Restricted Income funds Unrestricted funds Total funds 2024 Total funds 2023 Notes INCOME Grants and Awards Donations Premises Hire Sale of Electricity Cultural 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 Cleaning Internet Licences and Subscriptions Insurance Sundry Expenses rinancial Fees and Charges Accountancy 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 1,932 565 401 4,182 183 180 1,000 3,408 680 25,605 126 1,000 4,556 126 1,000 4,556 24,966 24,966 Total expenditure 25,773 24,966 50,739 54,182 NET INCOMEI(EXPENDITURE) 9210 (24,966) (15,756) 229,955 TOTAL FUNDS BROUGHT FORWARD 97,233 728,789 826,022 596,067 TOTAL FUNDS CARRIED FORWARD 106,443 703,823 810,266 826,022
NEUADD DYFI BALANCE SHEET as at 31st March 2024 2024 2023 Notes FIXED ASSETS Tangible Assets 789,749 807,705 CURRENT ASSETS Debtors Cash 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 after more than one year NET ASSETS 810,266 826,022 FUNDS OF THE CHARITY Unrestricted Funds Restricted Income Funds 106,443 703,823 97,233 728,789 810,266 826,022 Signed by the following tn]stees on behalf of all the trustees: Signatur Print Name Date of Approval
NEUADD DYFI NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st March 2024 l. Basis of Accounting These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value. The accounts have been prepared in accordance with the Statement of Recommended Prnctice '. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and with the Charities Act 2011 The charity constitutes a public benefit entity as defjned by FRS 102. 2. Accounting Policies a) Income This is included in the Ststement of Financial Activities (SOFA) when the charity becomes entitled to the resources. it is more likely than not the trustees will receive the resources and the rnonetary value can be measured with sufficient reliability There has been no offsctting of income and expenses. b) Expenditure rdnd Liabilities Liabilities are reCOlised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. c) Assets Tangible fixed assets are ststed at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives as follows . i) Freehold Buildings 2 % per annum straight line basis ii) Fixtures, Fittings and Equipment 3 % per annum straight line basis iii) FixtUTes, Fittings and Equipment 15 % pcr annum reducing balance basis
NEUADD DYFI NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st March 2024 3. Grants and Awards 2024 2023 Reslricted 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 Restricted Richard Williams Trust Richard Roberts Trust Aberdyfi Advertising and Improvements Committee Unrestricted Aberdyfi Community Council Aberdyfi Advertising and Improvements Con)mittee Others (up to £1,000 each) 4,091 5,000 1,186 4,894 5,000 1,064 10,277 10,958 io
NEUADD DYFI NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st March 2024 5. Tangible Fixed Assets Fixtures, Freehold Land Fittings 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 Charged in Year 82,033 12,913 94,946 95,817 11,943 107,760 380 110 490 178,230 24,966 203,196 At 31st March 2024 550,700 238,827 222 789,749 The land and buildings known as Neuadd Dyfi, Aberdyfi is vested in the Official Custodian for Charities. Neuadd Dyfi is insured for £2,038,234 which is an estimate of its replacement cost. 6. Debtors 2024 2023 Premises Hire Insurancc Prepayment 391 2,771 2,685 2,685 3,162 7. Creditors: amounts falling due within one year 2024 2023 Trade Creditors Accruals 37 1,000 1,000 1,000 1,037
NEUADD DYFI NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st March 2024 8. Restricted Income Funds The only restricted income fund is the Neuadd Dyfi Redevelopment Project. 9. Analysis of Net Assets Between Funds Unrestricted Restricted Funds Funds Total Fixed Assets Net Current Assets Creditors due in more than one year 789,749 (85,926) 789,749 20,517 106,443 Total Net Assets 106,443 703,823 810266 12-