MAGYAR CYMRU CIC

Company limited by guarantee

Company Registration Number:
15210686 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 13 October 2023

End date: 31 October 2024

MAGYAR CYMRU CIC

Contents of the Financial Statements

for the Period Ended 31 October 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

MAGYAR CYMRU CIC

Balance sheet

As at 31 October 2024

Notes 13 months to 31 October 2024


£
Current assets
Cash at bank and in hand: 43
Total current assets: 43
Creditors: amounts falling due within one year: 3 ( 630 )
Net current assets (liabilities): (587)
Total assets less current liabilities: (587)
Total net assets (liabilities): (587)
Members' funds
Profit and loss account: (587)
Total members' funds: ( 587)

The notes form part of these financial statements

MAGYAR CYMRU CIC

Balance sheet statements

For the year ending 31 October 2024 the company was entitled to exemption under section 477 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 Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 19 June 2025
and signed on behalf of the board by:

Name: Balint Nikosz Brunner
Status: Director

The notes form part of these financial statements

MAGYAR CYMRU CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover Turnover comprises the invoiced value of goods and services supplied by the company plus grants received, net of Value Added Tax (where VAT registered) and trade discounts.

MAGYAR CYMRU CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees

    13 months to 31 October 2024
    Average number of employees during the period 0

MAGYAR CYMRU CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Creditors: amounts falling due within one year note

13 months to 31 October 2024
£
Accruals and deferred income 610
Other creditors 20
Total 630

COMMUNITY INTEREST ANNUAL REPORT

MAGYAR CYMRU CIC

Company Number: 15210686 (England and Wales)

Year Ending: 31 October 2024

Company activities and impact

Magyar Cymru CIC exists to foster mutual understanding between the people of Wales and Hungary by promoting cultural exchange. During the financial year ending 31 October 2024, we provided opportunities for Welsh and Hungarian communities to connect, both in-person and online. Our activities included: - organising a first-of-its-kind Welsh-Hungarian cultural event in Newport with approx. 90 attendees – equally split between Hungarian and Welsh participants. The success of the pilot paved the way for a significantly larger event planned for 2025; - delivering a trilingual online campaign for Welsh-Hungarian Friendship Day across social media, and offering free marketing support for four other independently organised Welsh-Hungarian community initiatives; - partnering with the Embassy of Hungary in London to co-host a cultural reception for St David’s Day – following growing interest from some of England’s 90,000-strong Hungarian diaspora and the sizable Welsh diaspora community in London. - Our activities encouraged social cohesion between communities, fostering cultural awareness among Welsh people and reducing social isolation for Wales’ Hungarian minority. Our work also helped promote Wales as an inclusive and welcoming nation, giving Hungarians a sense of belonging and challenging misconceptions about the Welsh language.

Consultation with stakeholders

Magyar Cymru CIC’s stakeholders include young people and adults in Wales (and the rest of the UK) who are interested in learning about Hungarian culture, as well as individuals in Hungary and Hungarians currently living in the UK who seek to better understand Welsh culture. Our events and activities in 2023-2024 were informed by feedback from across the communities we serve. Prior to delivering our activities, our directors: - conducted in-depth interviews with Welsh-speaking Hungarians, revealing experiences of xenophobia and a growing affinity for Welsh identity, shaping our aim to foster shared cultural understanding; - recorded video interviews with community leaders, providing insights into efforts to develop Welsh-Hungarian connections since the 1990s; - observed hundreds of positive Facebook/Twitter comments around our creative activations from both nations, reflecting strong public interest and enthusiasm for initiatives promoting Welsh-Hungarian friendship; - verbally consulted with the Hungarian diaspora school of Newport, and other Hungarian-led community groups, to assess their needs and preferences; - empowered community members as 'ambassadors' for Welsh-Hungarian friendship and encouraged grassroots engagement; - consulted with the Honorary Consul for Hungary in Wales, the Hungarian Embassy, the UK's Hungarian Cultural Centre, and Welsh Government contacts to align with their priorities.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
19 June 2025

And signed on behalf of the board by:
Name: Balint Nikosz Brunner
Status: Director