Charity registration number 1157503
Company registration number 08574442 (England and Wales)
PLAS TEG TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PLAS TEG TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Secretary
Dr M Baker
Directors & Trustees
Dr M Baker
Mr J Rye
Company number
08574442
Company Number
08574442 (England and Wales)
Registered Office
Brithdir Hall
Berriew, Welshppol
SY21 8AW
PLAS TEG TRUST LIMITED
CONTENTS
Page
Report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Statement of cash flows
7
Notes to the financial statements
8 - 11
PLAS TEG TRUST LIMITED
REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

The Trust present their annual report and financial statements for the year ended 30 June 2025.

The trustees, who are also directors of the charity for the purposes of the Companies Act

2006, present their report with the financial statements of the charity for the year ended 30

June 2024. The trustees have adopted the provisions of Accounting and Reporting by

Charities: Statement of Recommended Practice applicable to charities preparing their

accounts in accordance with the Financial Reporting Standard applicable in the UK and

Republic of Ireland (FRS 102) (effective 1 January 2019).

THE VISION

The Vision is to enable the successful transfer of Plas Teg to the Nation and to facilitate a

sustainable future as a &#39;must visit&#39; destination for the local community and visitors to North

Wales.

MISSION STATEMENT

Founded as Love My Wales in 2013, the charity has had a proven record of organising and

running successful projects across Wales. The decision was made by the Trustees for the

charity to be a single project buildings preservation trust rather than a revolving project

buildings trust, focussing solely on Grade I listed Plas Teg in Flintshire, North Wales.

In 2020, Plas Teg was closed to the public due to the pandemic. Subsequently, structural

investigations commissioned by the Trust revealed that significant sums were needed to

repair the roof and interiors, following outbreaks of dry rot and failure of roofing materials.

The house remains closed to the public whilst building works continue and a proper legal

framework is established to enable the house’s preservation.

The current Mission of the Trust is, therefore, to help facilitate the stabilisation of Plas Teg

and secure its future for public benefit consistent with the Trust Objectives and Vision.

Objectives and activities

Objectives and aims

The objects of the Trust as specified in the Memorandum of Association are, but not limited to:

To preserve for the benefit of the people of Wales and of the Nation, the historical, architectural and constructional heritage that may exist in and around Plas Teg, Pontblyddyn, Mold, Flintshire in buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest.

Public Benefit

The project development stage is an essential part of moving from concept to final design and securing monies that will facilitate completion of the project and the re-opening of Plas Teg thereby delivering the public benefits outlined in the Mission.

The trustees confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefits when reviewing the charity's aims and objectives and planning future activities.

Volunteers

The Trustees and Directors of the charity are all volunteers. The charity relies on the support of the Trustees, members of the Bayley family and a core of volunteers at Plas Teg for the strategic direction of the charity and its objectives.

The have paid due regard to guidance issued by the Charity Commission in deciding what activities the should undertake.

PLAS TEG TRUST LIMITED
REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
Achievements and performance

Charitable activities

During the 2024/2025 financial year, the Trust’s focus has been on urgent stabilisation of Plas Teg and on strategic planning with the Bayley family and Mrs Cornelia Bayley’s deputy to agree a long-term vision for the house, its contents and future public benefit. Works during the year have concentrated on addressing structural vulnerabilities and weatherproofing, with particular emphasis on roof repairs and associated high-level fabric affected by storm damage, alongside further investigation and monitoring of building condition to inform the next phases of conservation. During the period, Mrs Bayley moved into private residential care, introducing immediate practical and financial considerations for the estate and reinforcing the need for a clear, deliverable strategy for the property and collections. In parallel, the Trustees have progressed constructive dialogue with the Landmark Trust and the National Trust, as the intended eventual beneficiaries under Mrs Bayley’s will, to explore potential stewardship models, future operational requirements and the practical steps needed to secure a sustainable, conservation-led future for Plas Teg.

Financial review

Financial position

During the year the Unrestricted Funds have decreased. The Unrestricted Reserves have decreased from £32,696 in June 2024 to £23,570 at June 2025. The decrease in funds has due to because of expenditure relating to emergency repairs to the roof at Plas Teg.

Continuation of funding

There has been no income from donations or any other source in the year.

Investments policy and objectives

Funds received and not required for current expenditure and deposited in a current bank account.

Reserves Policy

The Trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in fixed assets held by the charity should be between three and six months of expenditure. The present level of the general fund meets this criterion.

Plans for future periods

The charity plans to continue with the project activities outlined above and to support the Bayley family in developing a secure and sustainable future for Plas Teg.

Structure, governance and management

Governing document

The organisation is a charitable company limited by guarantee and governed by its Memorandum if Association dates 18 June 2013. It was registered with the Charity Commission on 17 June 2014. Un the event of the company being wound up members are required to contribute an amount nor exceeding £1.00

Dr M Baker
PLAS TEG TRUST LIMITED
REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
The report was approved by the Board of Plas Teg Trustees
Dr M Baker
Dr M Baker
1 January 2026
PLAS TEG TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE OF PLAS TEG TRUST LIMITED
- 4 -

I report to the on my examination of the financial statements of Plas Teg Trust Limited (the ) for the year ended 30 June 2025.

Responsibilities and basis of report
As the charities trustees you are resposible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act)

Having satisfied myself that the financial statements of the are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the ’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no 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 as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Harold Smith
Unit 32, Llys Edmund Prys
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JA
Dated: 1 January 2026
PLAS TEG TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
- 5 -
Unrestricted
Unrestricted
funds
funds
2025
2024
Notes
£
£
Income from:
Donations and legacies
3
-
687
Total income
-
687
Expenditure on:
Charitable activities
4
8,538
14,357
Total expenditure
8,538
14,357
Net expenditure and movement in funds
(8,538)
(13,670)
Reconciliation of funds:
Fund balances at 1 July 2024
32,108
45,778
Fund balances at 30 June 2025
23,570
32,108

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

PLAS TEG TRUST LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 6 -
2025
2024
Notes
£
£
£
£
Current assets
Cash at bank and in hand
25,385
33,923
Creditors: amounts falling due within one year
7
(1,815)
(1,815)
Net current assets
23,570
32,108
Income funds
Unrestricted funds
23,570
32,108
23,570
32,108

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the on 4 January 2026
Dr M Baker
D M Baker
Company registration number 08574442
PLAS TEG TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
10
(8,538)
(12,713)
Net cash used in investing activities
-
-
Net cash used in financing activities
-
-
Net decrease in cash and cash equivalents
(8,538)
(12,713)
Cash and cash equivalents at beginning of year
33,923
46,636
Cash and cash equivalents at end of year
25,385
33,923
PLAS TEG TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
1
Accounting policies
Charity information

Plas Teg Limited is a limited company

1.1
Accounting convention

The financial statements have been prepared in accordance with the charities [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the charity have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the charity continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the .
1.4
Income
Income is recognised when the is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
PLAS TEG TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 9 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

PLAS TEG TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 10 -
2
Critical accounting estimates and judgements

In the application of the charities accounting policies, the are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Total
Unrestricted
funds
2025
2024
£
£
Donations and gifts
-
687
4
Charitable activities
Total
2025
2025
2024
£
£
£
CareTaker Duties
-
806
556
BookKeeper
-
-
250
Motor
3,977
3,977
3,003
Repairs and Renewals
3,600
3,600
8,160
Accountancy
960
960
957
Sundry Expenses
-
-
13
Legal & Professional
-
-
1,395
Charitable Expenditure
-
-
23
8,537
6,711
14,357
8,537
6,711
14,357
5

None of the trustees (or any persons connected with them) received any remuneration or benefits from the during the year.

6
Taxation

The charity is exempt from tax ation on its activities because all its income is applied for charitable purposes.

PLAS TEG TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 11 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Accruals and deferred income
1,815
1,815
8
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d. The se include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2024
Incoming resources
Resources expended
At 30 June 2025
£
£
£
£
General funds
32,108
-
(8,538)
23,570
Previous year:
At 1 July 2023
Incoming resources
Resources expended
At 30 June 2024
£
£
£
£
General funds
45,778
687
(14,357)
32,108
9
Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

10
Cash generated from operations
2025
2024
£
£
Deficit for the year
(8,538)
(13,670)
Movements in working capital:
(Decrease)/increase in creditors
-
957
Cash absorbed by operations
(8,538)
(12,713)
11
Analysis of changes in net funds

The had no material debt during the year.

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