for the Period Ended 31 October 2024
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
As at
| Notes | 13 months to 31 October 2024 | ||
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| Current assets | |||
| Cash at bank and in hand: |
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| Total current assets: |
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| Creditors: amounts falling due within one year: | 3 |
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| Net current assets (liabilities): |
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| Total assets less current liabilities: |
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| Total net assets (liabilities): |
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| Members' funds | |||
| Profit and loss account: |
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| Total members' funds: |
( |
The notes form part of these financial statements
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
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 October 2024
Basis of measurement and preparation
Turnover policy
for the Period Ended 31 October 2024
| 13 months to 31 October 2024 | ||
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| Average number of employees during the period |
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for the Period Ended 31 October 2024
| 13 months to 31 October 2024 | ||
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| £ | ||
| Accruals and deferred income |
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| Other creditors |
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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.
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.
No remuneration was received
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