2024-03-31-accounts

CRONFA YMDDIRIEDOLAETH ADDYSG BELLACH YNYS MON ANGLESEY FURTHER EDUCATION TRUST FUND Rhif Cofrestru Elusen I Charity Registration No. 525254

CONTENTS OF THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Report of the Independent Examiner Statement of Financial Activity Balance Sheet Notes to the Financial Statements 9-15

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present Iheir report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions ofthe Accounting and Reporting by Charities.- statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standards applicable in the UK and the Republic of Ireland (FRS1021, effective 1 January 2015. LEGAL AND ADMINISTRATIVE DETAILS Registered Charlty Number: 525254 Principal Address: Isle of Anglesey County Council County Offices Llangefni Anglesey LL77 7TW Trustee: The Isle ofAnglesey County Council is the sole trustee ofthe Anglesey Further Education Ttust, and the activities of the Trust were administered on its behalf by the County Council. Independent Examiner: Mr. Brian Hughes A. Hughes-Jones, Dy50n & Co Capel Moreia South Penrallt Caernarfon Gwynedd LL55 1 NS

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document: The charity is controlled by its goveming document, a deed of Irust, and constitutes an unincorporated charity. The Anglesey Further Education Trust Fund is regulated by a scheme made by the Board of Education on 23 March 1939, and significantly modified by a scheme dated 18 July 1960. These specify the duties, powers and condilions under which the Trust is required to operate. Recrultment and appointment of new trustees: The Isle ofAnglesey County Council is the sole truslee of the Anglesey Further Education Trust Fund. The charity is run by the Council's Executive Committee. New trustees are briefed on their legal obligations under charity law. the content of the governing document and the decision-making pro￿sS. Any training needs are identified and addressed inlernally by other existing trustees and offi￿r8 of the Council. Organlsational structure: The Isle ofAnglesey County Council is the sole trustee ofthe Anglesey Further Education Trust Fund, and the activities of the Trust were administered on its behalf by the County Council. The organisational structure has been as follows'.- The County Council's Executive Committee act as the Trustee. The Council's Head of Service {Lifelong Learning), in conjunction with the Portfolio Holder for Lifelong Learning, have the delegated authority to award the annual grant funding. The Council's Head of Service (Highways, Waste and Property), in conjunction with the Portfolio Holder for Highways, Waste and Property, have the delegated authority to manage tenancy agreements and to sel rents ofthe propety portfolio {the David Hughes Endowment). The Council's Executive Committee will approve the accounts ofthe Trust and the Section 151 Officer has the delegated authority to sign the Trust's Annual Accounts. The strategic leaders of the County Council were.- Chief Executive- Dylan Williams Deputy Chief Executive- Rhys Hughes Director of Function {Resourcesl and Section 151 Officer- Marc Jones Director of Function (Council Business) and Monitoring Offi￿r- Lynn Ball Related parties: Due to the nature of the Charity's operations, and because the sole trustee of the charity is the Isle of Anglesey County Council. it is inevitable that transactr'ons will take place with organisations related to the Council and ils employees. All transactions involving organisations in which the Isle of Anglesey County Council may have an interest are conducted at arm's length. The Council has a policy that all trustees must declare an interest if a related party transaction occurs.

Risk Management: The major risks to which the Trust is exposed, as identified by the Trustee, have been reviewed and Systems or procedures have been established to manage the risk. OBJECTIVES AND ACTIVITIES Aims and objectives: The Anglesey Further Educalion Trust Fund is comprised of three funds= The David Hughes Endowment., the Anglesey Further Education Fund 113 and the Anglesey Further Education Fund 213. which aim ta provide specific educalional benefit. The David Hughes Charitable Estate (Endowment Fund): This fund Collects rents from its investment property and interest on its investments. The management and administration costs of the estate are deducted from the rents received to arrive at the net income for the year that can be distributed or net expenditure. A payment of a quarter of the net income is made to an unconnected charity, 'The David Hughes Charity for the Poorf, for purposes connected with the relief of povety in the community of Llantrisant. The remaining income forms the Anglesey Further Education Fund'.- Anglesey Further Education Trust Funds: One third of the General Fund is allocated to provide special benefit, of any kind not normally provided by the Authority, to assist senior pupils to finish their courses at any one of the sGhools specified in the scheme- the five secondary schools maintained by the County Council. The remaining thirds of the General Fund is available to benefit persons under the age of 25, who have attended any one of the schools specified in the scheme for at least IMO years, who are in need of financial assistance for Further or Higher Education ortraining. The Twst has identified three schemes which are intended to increase the number of grants awarded in future. Grant making: Grants are made to individuals who have attended or are attending one of the five secondary schools maintained by the County Council who meet the above criteria. This may be via payments made to each secondary school or via a scholarship Scheme to be administered by 'Coleg Cymraeg Cenedlaethol. for students from finanGi8lly disadvantaged backgrounds to undertake courses through the medium of Welsh. Public benefit.. The trustees confirm that they have referred to the guidan￿ contained in the Charity Commissioner's general guidan￿ on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant rnaking process.

ACHIEVEMENT AND PERFORMANCE Charitable Activities: The charity has continued to safeguard the assets of the Trust. The charity now allocates funding to each ofthe Island's secondary schools. To assist current pupils each school was initially offered up to £56k to fund the cost of Learning Coaches in October 2019. Each school was also given £8,560 to enable them to assist financially disadvantaged students to obtain pla￿S at colleges and universities andlor to help with the purchase of books and equipment required to attend the courses in the first year. During 2023124, the 'Coleg Cymraeg Cenedlaethol. scholarships scherne Continued, with six former pupils each receiving £500 and one receiving £1,150. FINANCIAL REVIEW Financial Performance: Before gains & losses on investments, the Endowment Fund had a net expenditure of £41,527 due to increased investment in its propety portfolio. The Trust's investments have increased in value by £3,931 this year, but revaluation of once piece of land has resulted in a loss of £50,100. This gives the charity an overall decrease in funds of £77,156 for the year. As a result, total funds as at 31 March 2024 were £4,808,393, of which all funds are restricted. Principal funding sources: The principal fijnding sources ofthe charity are rental income from tenants and investment income in the form of dividends, investment interest or interest on deposits. Investment policy and objectlves: The charity's ageing property portfolio has required substantial investment. The trustee of the charity has undergone a period of consolidation in order to generate the necessary cash reseNes to reinvest in its assets. In addition, the charity holds approxirnately 100/0 of its Total Fixed Assets in Investment Funds, which generate dividend and interest income. Plans for the future: The Anglesey Further Education Trust operates as a going concern for the charitable purposes ststed above.

Inde endent examinerfs rg ort to the trustees of An lese Further Education Tru$t Fund I report to the trustees on my examination of the accounts of the Anglesey Further Education Trust Fund for the year ended 3181 March 2024. which are set out on pages 7-15. Res onsibllltles and basis of re ort As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('Ihe Act.). I report in respect of my examination of the Trust'8 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. Inde endent examlngr's statement I have completed my examination. I confirm that no material matters have come to my atlenlion in connection with the examination giving me cause lo believe that in any material respect'.- 1. Accounting lecords were not kept in respect of the Trust as required by Section 130 of the Act, or 2. The accounts do not accord with those records,. or 3. The aGcounts do not corllply with the applicable requirements Con￿rning the form and content of accounts set out in the Charities (Accounts and Reports) Regulation 2008. other than any requirement8 that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concems and have come across no other mallers 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. Signature.. Date.. Brian Hughes FCA A. Hughes-Jones, Dyson & Co. Chartered Accountants & Reglstered Auditors Capel Moreia, South Penrallt, Caernarfon, Gwynedd

TRUSTEES RESPONSIBILITY STATEMENT The Iruslees are responsible for preparing the Report of the Trustees and Ihe Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wale5, the Charities Act, Charity (Accounts and Reports) Regulations and the provisions of the trust deed requires the trustees to Prepare financial slalemenls for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources. including the income and expenditur2, of Ihe charity for that period. In preparing those financial statements, the Iruslees are required lo:_ select suitable accounting policies and then apply them consistently., obsèrve the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that thè charity will continue in business. The Iruslee5 are responsible for keeping proper accounting records which disclose with reasonable accuracy al any lime the finallcial position ofthe charity and to enable them to ensure that th& financial slalemenls comply with the Charities Act, the Charity IAccoLJnts and Reports} R&gulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and, hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed by the Direclor of Fun¢lion (Resources) I S8Ction 151 Officer under delegat6d authority on behalf of the Trust.. R Marc Jones FCPFA Dlrector of Function (Resources) I Section 151 Officer Date

Inde endent examiner's re ort to the trustees of An lese Further Education Trust Fund I report to the trustees on my examinalion of Ihe accounts of the Anglesey Further Education Trust Fund for the year ended 3151 March 2024, which are set out on pages 7-16. Res onsibilities and basis of re ort As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act'i. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the 2011 Act and, in carying out my examination, I have followed all the applicable directions given by the Charity Commission under Section 145{5)Ibl of the Act, Inde endent examiner's statement I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the Act., or 2. The accounts do not accord with those records,. or 3. The accounts do not comply with the applicable requirements concerning Ihe form and content of accounts set out in the Charities (Accounts and Reports) Regulation 2008, other than any requirements that the accoLtnts 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 wilh the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. signa￿re-. Date.. Brian Hughes FCA A. Hughes-Jones. Dyson & Co. Chartered Accountants & Registered Auditors Capel Moreia, South Penrallt, Caernarfon, Gwynedd

TRUSTEES RESPONSIBILITY STATEMENT The trustees are responsible for preparing the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdorn Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act, Charity (Accounts and Reports) Regulations and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of reSoUr￿s, including the income and expenditure, of the charity for thal period. In preparing those financial statements, the trustees are required to'.- select suitable a¢¢ounting policies and then apply ihem consistently., observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disGlose wth reasonable accuracy at any lime the financial position of the chanty and lo enable them to ensure that the financial statements cornply with the Charities Act, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They a￿ also responsible for safeguarding the assets of the charity and, hen￿, for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed by the Director of Function (Resources) I Section 151 Officer under delegated authority on behalf of the Trust.. I* . J4L1 2odJ R Marc Jones FCPFA Dire¢tor of Function IResour¢esl I Section 151 Officer Date

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.2024 Total Funds 31.3.2023 Total Funds Notes Regtrlcted Funds Endowment Funds Income and Endowrnent5 frorn- Investment Income 11,934 157,068 169,002 149,440 Totsl Incom? 11.934 157,068 169,002 149,440 Expendlture on.. Inveslrnenl MarogeThnt crwritabk Actfvities Support Costs 1185,0131 1185,0131 14,1501 {13,5821 1147, 1841 175.3061 112,2781 14,1501 113,5821 Total Ex endlture 4,150 198,595 202,745 234.746 Net Income I IExpendSturel avallable for dtstrlbutlon before Galns and Losses on Investments 7,784 141.6271 133.7431 186.3061 Payment of25°1￿ of net in¢(Yn8 to Dawid Hughps Charity lor the Poor Transfer ol remairing net E￿oWMent iworne lo FWttr￿r Edw8tion Tr￿1 FurKIs Net Income I (Expenditure) before Galn3 and Losses on Investments 7,784 141.5271 133,7431 185,3061 Net Gains I ILossesl on In¥tstffEnts 2,756 146,1691 143,4131 256,076 Net Movement In Funds 10,540 87,696 77,156 170 770 Rèconelllatlon of Funds: Total Funds bro hl lO￿ard Total Funds carrled lo￿ard 297,756 308,296 4.587,793 4.500,097 4.885,549 4,808,393 4.714,779 4,885,549

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 31.3.2024 Total Funds 31.3.2023 Total Funds Notes Re$trl¢ted Funds Endowment Fund In￿stMentS list￿ or traded on 8 rèeognised Stock ExcharKJe Investment Propertie$- Dawd H￿￿e8 Estate 78 118,448 169,485 287,933 281,245 yb 3,760,400 3,760,41)0 3,810.500 Total FIx8d Assets 3 929 885 4 048 333 4 091 745 Cwrent Assets Deblors Cash at barl( and in haTh 68.595 510,122 68,595 699,970 82,832 748,320 189,848 Total Current Assets 189,848 67B,717 768,665 811,162 Credilors.. amounts falllrYJ duè within o year 10 18,5051 18.5051 117,3481 Net Current Assets or Llabllltoes 189,848 570,212 760,060 793,804 Creditor8.' arnounts falliru duo 8ft8r more than one year Prowislor6 for liabilrties Total Net Assets or Llabllltles 308.296 4,500,097 4,808,393 4,885.S49 The Funds of the C￿ritY EThSowrnent FWKIS Restricted Income Furnls 11 4,500.097 4,500,097 308,296 4,587.793 297.756 308,296 Total Charit Funds 308,296 4 500,097 4 808,393 4.885,549 The financial statements are signed by the Director of Function (Resources) I Section 151 Officer under delegated authority'.- I￿. Juwy 202) nes FCPFA Director of Function (Resources) I Section 151 Officer Date

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convention, with the exception of investments, which are included at market value. This is as modified by the revaluation of ￿rtain assets and in accordance with the Charities SORP (FRS102) (effective January 20151, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Chanties. In¢oming resources All incoming resources are recognised once the charity has entitlement to the reSoUr￿s, it is certain that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Costs of generating funds The costs of generating funds consist of investment management costs. Investment property Investment property is shown at the most recent internal valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to the endowment fund. Taxatlon The charity is exempt from tax on ils charitable activities. Value Added Tax The charity can reclaim Value Added Tax through its trustee, the Isle ofAnglesey County Council, therefore, where applicable, expenditure is shown net ofvalue Added Tax. Fund structure The charity has three funds, one endowment and I￿0 restricted. The David Hughes Charitable Estate (Endowment Fund This fund collects rents from its Investment property and interest on its investments. The management and administration costs of the estate are deducted from the rents received to arrive al the net income for the year that can be distributed.

A payment of a quarter of the net income is made lo an unconnected charity, 'The David Hughes Charity for the Poor,, for purposes connected with the relief of poverty in the community of Llantrisant. The remaining income fonrs the Anglesey Further Education Trust Fund, which is split into two:_ Anglesey Further Education Trust Fund 113 {Restricted Fund) One third of the Anglesey Further Education Trust Fund is allocated to provide special benefit of any kind not normally provided by the Authority. to assist senior pupils to finish their course at any one oflhe schools specified in the scheme- the five secondary schools maintained by the County Council. Anglesey Further Educatlon Trust Fund 213 (Restricted Fund) The remaining two thirds of the Anglesey Further Education Trust Fund is available to benefit persons under the age of 25, who have attended any one of the schools specified in the scheme for at least years, who are in need of financial assistance for further or higher education or training. The charity has no unrestricted income. Fixed asset investments Investments are stated at market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. Realised gains and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference beiween sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between market value at the year end and opening market value lor purchase date if later). Realised and unrealised gains are not separated in the Ststement of Financial Activities. 2. INVESTMENT INCOME Rostricted Fund8 Endowment Funds Totsl 31.3.24 Tolal 31.3.23 In¥￿tment In¢ome Rents reCeI￿d Water rates- re(aarges otLr in¢oft fri)m Dawd H￿h&S Estate Dkbiderds and Iwtmeth Inlerest ot￿r lrteresl 129.603 510 129.603 510 127,364 1,000 4,070 5,826 21,130 9,8 28,994 9.670 11.40 Total lTrve8tm8nt Income 11,934 157.069 109,003 149,440 io

1. INVESTMENT MANAGEMENT COSTS Restrlcted Funds Endowment Funds Total 31.3.24 Total 31.3.23 Investment Management Co8t8 Repairs and Mainlenarte ol tf* DavKS H￿he8 Estate Water Charges Profe5siona1 SeNces other property expenses Bad Debt pro￿ls￿￿ {182,2371 13,8361 1182,2371 13,8261 1134.0361 13,4741 1,060 1,060 15.0571 14.5971 Total Investmgnt Management Costs 1185,0131 1185,0131 147,164
2. CHARITABLE ACTIVITIES Restrlcted Funds Endowmant Funds Total 31.3.24 Total 31.3,23 Charlt4bl8 Actlvltlos Education grants awarded Grants lo schools- loarnitTrJ coadks Grants lo schools- ￿1p towards hYJfEr ed(￿atIon 14,1501 14,1501 13,LKKII {72,X￿l Total CharÈtabl• Expondituro 14,150 14,1501 175,3061 The Education grants awarded Comprises six £500 scholarship grants awarded to former pupils through 'Coleg Cymraeg Cenedlaethol,, and one £1,150 grant. The Trust applies the exemption allowed under Charity Law and the SORP to keep the names of grant recipients confidential.

3. SUPPORT COSTS Restricted Funds Endowmènt Funds Total 31.3.24 Total 31.3.23 Support Costs Property management 8dministrati¥e costs AccountitKJ arvj supwrt costs lThYeper*ent Ex8Mlner's l A￿ltor'S Remuneration 18.5671 14.0041 11.0101 18.5671 14,0041 11,0101 17,9191 13,3871 19701 Total Support Costs 113,6811 12,2701 li

4. DISTRIBUTION OF ENDOWMENT FUND NET INCOME 25 % of the net income before gains and losses on investments for the Endowment fvnd is to be paid to the David Hughes Charity for Ihe Poor. The remainder is split between the restricted Further Education Trust Funds on a 113 and 213 basis'.- Distribution of Endowment Fund Net Income Totsl 31.3.24 Total 31.3.23 Nel i￿ome available for distribution before gains an losses on investments 25% paid to David Fknghes Charity for th¢ Po¢y 25% transferred lo Furthèr Education TTU5t 113 500/0 transferred lo FWIF￿r Education Trust 213

5. INVESTMENTS Restricted Fund5 End¢)wThent Funds Total 31.3.24 Total 31.3.23 Not Galn¥ I ILo88esl on Inve8tmenls Gal￿ I ILo88881 on listed Investment FuThJs Gairts I ILossesl on Investment Properties 2,7 3,931 150,1001 6,687 150,1001 18,4641 264.540 Total Not G•ln8 I IL038e8 2.7S8 46,1691 143,4131 256,076 a. INVESTMENTS LISTED OR TRADED ON A RECOGNISED STOCK EXCHANGE Invostmgnts Llst8d or Traded on a R￿09￿159d Stock Exchange Rostrlcted Funds End0￿￿onI Funds Total 31.3.24 Total 31.3.23 Market ValLB AI 1 April Additio Disposa15 RawaluAtion$ Transfers 115,691 165.554 281,245 289.709 2,756 3.931 6.687 18,4641 Net Book Valuè at 31 March 118,447 169,485 287,932 281,245 There were no investment assets outside the UK. The investments are mainly in BLK Charities UK Charity Authorised Investment Fundswith small holdings in gilts and equity. 12

b. INVESTMENT PROPERTY Investment Property 31.3.24 31.3.23 Market Value al 1 April Additions Disposals Impairment Revaluation Gain I (Loss) Transfers 3,810,500 4.093,000 1282.5001 (50,1001 Net Book Value at 31 March 3,760,400 3,810.500 The Estate was valued as at March 2024 at a total value of£3,760,400 on the existing use value basis by Sarah V. Wlliams, the Isle of Anglesey County Council's Senior Valuations Officer. 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Dgbtors: Amounts Falllng due withln One Year 31.3.24 31.3.23 AmoLrts recoveiable on contract Bad Debt Pro￿lS1On 116,914 148,3191 111.151 {48,3191 Total Dgbtors 68,595 62,832 It was decided in 2017118 that it would be prudent to create a provision for bad debts owing to the amount of historic debts that have built up. However, efforts to collect the amounts owed from previous tenants have increased with some successes. 9. CASH AT BANK This represents the balance within the cash reserves held by the Isle of Anglesey County Council on behalf of the Anglesey Further Education Trust. Further Educatlon Trust Furthèr Educatlon Trust 213 Davld Hughes ¢harltable Esiat Total Funds 31.Y.24 Total Funds 31.3.23 Cash at Bank Cash al Bank 36.609 183.239 510,122 699,970 748,320 Bank De oslts 36.609 153,239 510,122 699,970 748,320 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Regtrlcled Funds Endowment Funds Total 31.3.24 Total 31.3.23 CTeditors: Amounts Falllng due ￿h1n One Year Other creditors 18.5051 18.5051 117,3481 Totsl Creditor8 10,5051 18,5051 117,3481 13

1. MOVEMENT IN FUNDS Net Movement In Funds Movement in Funds 1.4.23 31.3.24 Further Ed￿ation Trust 113 Further Edl￿at￿)n Trust 213 111,886 185,870 4,989 5,551 116,875 191,421 Restricted Funds 297,756 10,540 308,296 Damd Hug1￿8 ChaT11ab￿ Estate 4,587,793 {87,696} 4,500.097 Endowmont Funds 4.587.793 87,696 4.500,097 Total Funds 4,885.549 177.1561 4,808,393 b. Net movement in funds, included in the above, are as follows: Incon Resou¥￿8 Expondknrè Trons1orB G&lrn% and Losse Movomèmt In Fund5 Movompnt thl Fund8 6nClUd￿ th the abov8: FutlEr Ed￿atIOnTr{lsI113 FwlFEr Edw8tionTrusl 213 4,275 7,659 11,1501 13,0001 1,864 4,989 4.659 Restrlcted Funds 11,934 4,150 1,864 9,648 Charttabfe E51gte 157,￿8 1198,5951 146,1691 187,6*1 ETrdowm8nt Fund8 157.068 198,595 146,1691 87,6961 Total Fund8 169,002 202,745 44,305
2. TRUSTEES, REMUNERATION AND BENEFITS Trustees, expenses No trustees, remuneration was paid in the year ended 31 March 2024 or the year ended 31 March
3. This relates to the trustee, that is, the members of the Executive Committee and the Isle of Anglesey County Council's Leadership Team acting on its behalf. See Note 13 {Related paty disclosures) in connection with the fees paid to the corporate trustee for property and financial administration cosls incurred.
4. RELATED PARTY DISCLOSURES Isle of Anglesey County Council The Anglesey Further Education Trust Fund is administered by the Isle of Anglesey County Council. A property management fee of £8,5671£7,919 in 2022123) was charged by the Council for the administration of the David Hughes Estale. In addition, a financial management fee of £4,004 {£3,387 in 20221231 has been charged to the Twst forfinancial administration and accounts production. Total fees recharged by the Council were, therefore. £12,571. 14

Due to the nature of the charity's operations, and because the sole trustee of the charity is the Isle of Anglesey County Council, it is inevitable that transactions will take place with organisations related to the Council and its employees. All transactions involving organisations in which the Isle of Anglesey County Council may have an interest are conducted at arm's length. The Council has a policy that all Councillors and members of the Leadership Team must declare an interest if a related party transaction occurs. 15