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2023-03-31-accounts

Charity number: 1102270

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Chairman's statement 2 - 5
Trustees' report 6 - 10
Independent examiner's report 11 - 12
Statement of financial activities 13
Balance sheet 14
Notes to the financial statements 15 - 26

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees N Thomas, President
N Blackamore, Treasurer
C Canham, Secretary
E Barnes (resigned 21 October 2022)
A Deathe
E Lewis
M Mason (resigned 21 October 2022)
K Murdoch (appointed 21 October 2022)
L Podmore
E Roberts (resigned 21 October 2022)
R Rogers
S Sandford (appointed 21 October 2022)
J Taylor-Bosanko
E Scullion (resigned 21 October 2022)

Charity registered number 1102270 Principal office Museums & Arts Service Cyngor Gwynedd Caernarfon Gwynedd LL55 1SH Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Page 1

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

PRESIDENTS REPORT FOR THE YEAR ENDED 31 MARCH 2023

The President presents her statement for the year.

Annual Report for Year commencing 1 April 2022 to 31 March 2023

This report covers the period 1st April 2022 until 31st March 2023. The Federation has worked to support museums across Wales as they continued to adjust to the new normal. Nêst Thomas was President during this time but was only able to carry out some duties due to a period of time away from work. There were no nominations for Vice President following the resignation of Morrigan Mason at the AGM in October 2022. This left the Federation without a President or Vice President from the 2022 AGM. Thanks are due to the committee who shared the workload normally undertaken by both post holders from the last AGM.

Governance

The committee met on 5 occasions (from May 2022, June, September, December and March 2023). In addition to 11 Trustees (3 named officers and 8 ordinary members one of whom undertook the Vice president role), there was 1 co-opted member and 4 observers representing Welsh Government Culture Division, Amgueddfa Cymru - National Museum Wales (ACNMW), the National Trust and the Museums Association. This has enabled the Federation to continue our strong links with these key strategic bodies.

The Federation held the AGM on 21st October 2022 ay Y Gaer Brecon and online.

Membership

In this financial year, the Federation membership stood at:

There are currently 360 subscribers to the JISCmail group, an all-time high.

Communication and promotion

The Federation continued to promote itself and its members via its website and social media networks @WelshMuseumsFed and @WelshMuseums. We also have a second website used for the Festival. A new website was commissioned in September 2022. Y Mag will be available on the new website and digital copies can be distributed if required.

Business Plan 2021-2024

The Federation committee reviewed the Business Plan and associated action plan during June 2022. The exercise highlighted the ambition of the plan compared with the available capacity and resources to deliver the objectives. It was recommended that the Committee develop an Action Plan to support the business plan, to assist in determining priorities and resources and communicating progress.

Development Officer

The Federation employed Chris Delaney as Development Officer on a freelance basis for two days a month during the year. He assisted the President and Vice President for part of the year as well as those officers and members of committee who had taken on extra responsibilities. In addition, he was actively involved in the advocacy group set up by the Federation and MA to oppose the decision to close the Museum of Cardiff. His role involved contacting all the elected members of the authority and giving evidence to the group of members set up to scrutinise the proposal. Worked with the President and ICOM on details for the joint conference held in April 2022.

Page 2

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

PRESIDENTS REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Partnerships

Meetings and communication with sector organisations

Throughout the year, the Federation continued to ensure that Welsh museums were represented on numerous steering groups and committees including the Historic Environment Group (HEG), the Sporting Heritage Expert Panel, the Football Museum for Wales steering group, the ARCW race equality subgroup and PCW Advisory Group.

Welsh Government

The President, Vice President, various committee members and the Development Officer continued to meet with representatives from the Culture Division of Welsh Government. Strong links continue to be maintained.

Museums Association

The Federation worked closely with the Museums Association to oppose the closureof Cardiff Museum. The outcome of all the advocacy work was partially successful in that the museum will move from the old library but be relocated into a new location with a favourable footfall.

The Federation was represented on MA Welsh Stakeholders meeting alongside MA reps and staff from NMW.

AC-NMW

The President continued to attend regular meeting with the Vice-President with Kath Davies, Sioned Hughes and Nia Williams and others at Amgueddfa Cymru to discuss and explore opportunities for future collaboration. To date these include loans/sharing collections & exhibitions/decolonization/ diversity/ new curriculum. Together with NMW, the Fed jointly presented at MA Conference 2022 on the WoW project.

Funding proposals

During the year, the Federation was approached to be a formal partner in several funding applications. The successful grant partnership projects are:

 Working with the Open University on -Wales Residents Engaging in Arts, Community and Heritage This was a successful bid to NLHF for funding for development funding;

Wales REACH will empower marginalised people to engage creatively with the cultural and natural heritage that matters to them. A partnership between the Open University (OU) and Amgueddfa Cymru – National Museums Wales (AC-NMW), the project will challenge stigma by using the talents of participants to mobilise stories about their collective pasts as community assets. The Federation representing local museums will be a partner in the project. In collaboration with five housing associations (HAs), REACH will work with communities across Wales, embracing rural and urban settings and involving racially minoritised, socio-economically disadvantaged and Welsh-speaking groups, as well as participants with learning disabilities. It will co-create five bespoke Inclusive Heritage Learning Programmes (IHLPs), each fitted to the needs of a specific community,

Advocacy

Financial Support

Thanks to funding from the Culture Division in Welsh Government we had a number of grant programmes running in 2022/23. These include the small grant schemes in Spring and Autumn, total available £90k, the Festival Grants, total available £10k and the T&C grants, total available £10k.

In addition, in partnership with Amgueddfa Cymru, we received £126,250 from Welsh Government for the Summer of Fun Programme.

We worked with the Art Fund’s The Wild Escape Project to set up a grant scheme for 2023/24.

Page 3

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

PRESIDENTS REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Welsh Museums Festival 2022

This was the first year of grant reference 2002-MCW-005 £120k over three years (2022-23, 2023-24, and 202425) awarded by the Culture Division of Welsh Government. The Festival ran across two weeks in 2022 (instead of the usual week), from 22 October to 6 November, to align with school half term holidays in both Wales and England.

The Federation continued to take full responsibility for the Festival management, made possible thanks to grant from Welsh Government. This grant enabled the commissioning of freelancer Angharad Wynne to lead on organising the Festival logistics and provide support to member museums. Her role has now come to an end and we would like to thank her for all her efforts.

Projects

The Digital Heritage Hub

The Digital Heritage Hub is live and can be accessed at https://www.culturehive.co.uk/digital-heritage-hub/ The webinar from the April 2022 launch event is online. It features presentations and a panel discussion including Federation Committee Member, Jordan Taylor-Bosanko.

Digital Heritage Hub is managed by Arts Marketing Association (AMA) in partnership with The Heritage Digital Consortium and The University of Leeds. It has received Department for Digital, Culture, Media and Sport (DCMS) and National Lottery funding, distributed by The Heritage Fund as part of their Digital Skills for Heritage initiative.

The Federation, as a Steering Group member, has advocated for all resources to be available in Welsh, which was not within the original project proposal. The project partners have realigned budgets to ensure all resources will be available bilingually and are liaising with the Federation over preparing bilingual publicity materials.

ICOM UK

ICOM UK is seeking to grow its membership in Wales and the collaboration with Federation and National Museum Directors’ Council in its Annual Conference in April 2022 was a starting point for building stronger relationships. ICOM UK will soon be seeking applications for a Welsh representative on its Committee.

Anti-Racist Wales Action Plan

The Federation has in partnership with Dr Marian Gwyn commenced a project, called Museums, Collections and Cynefin – Delivering a Lasting Legacy . It is designed around three distinct strands that support museums to:

  1. develop understanding of collections through collection reviews

  2. develop staff and volunteers’ knowledge and understanding of why objects/collections are contested, how and where to research for more information, managing conflict/negotiating skills, and developing co-created events and interpretation; and

  3. providing support to make visible change in museums through small grants.

The Anti-racist Wales Culture, Heritage and Sport Fund represents at least £1.75m over 3 years. It is part of the specific Programme for Government commitment to properly represent and reflect the history of Black, Asian and Minority Ethnic people.

Page 4

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

PRESIDENTS REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Professional Development

Leadership

The AIM/Federation Museum Leaders programme continued to meet virtually on a fortnightly basis. An additional ‘Rising Leaders’ network has been established with Nick Winterbotham leading this cohort. Thanks are due to AIM and Welsh Government for continued support to support leaders in museums across Wales.

Engagement and learning

Worked with Kids in Museums to arrange and promote further training for our membership (funded via Welsh Government.):

The session included a case study about ‘No Môr Plastic’ project, by Sarah Younan, Youth Engagement Coordinator at the National Museums Wales.

Izzy McLeod, Amgueddfa Cymru Producer at the National Museums Wales did a presentation about working with museums to tackle the Climate Emergency.

Another session planned in January - about maintaining healthy boundaries when working with young people:

GEM New curriculum group

GEM have developed a series of training, supported by the Welsh Government Culture division who have commissioned GEM Cymru to create resources which support learning provision in museums in Wales, with an emphasis on the new Curriculum for Wales.

GEM provided two online training sessions about adapting formal learning programmes for family audiences in Welsh museums. Further new curriculum awareness training being offered in the new year, training aimed at non-education specialist staff from museums, archives and local studies libraries to learn about how the new Curriculum for Wales will affect your service to schools:

On behalf of the Committee of the Federation of Museums and Galleries of Wales

Nêst Thomas 19/12/2023 N Thomas President Federation of Museums and Art Galleries of Wales

Page 5

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of the Charity for the period from 1 April 2022 to 31 March 2023.

Objectives and activities

a. Policies and objectives

Our mission is:

We support and advocate for the highest standards of museum provision throughout Wales, for the people of Wales.

Our key messages are:

  1. Museums empower people through learning, participation and inspiration

  2. Museums and their collections strengthen community identity and well-being

  3. Museums make a significant economic contribution through tourism and regeneration

Our charitable objectives are:

  1. To promote the highest professional standards of work and public service in museums and art galleries in Wales

  2. To advance the education and training of those working in and supporting museums and art galleries in Wales

  3. To encourage public education through promotion and maintenance of high-quality museum and art gallery lifelong learning services

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

The charity is the strategic body for museum and art gallery professionals in Wales, advocating for the highest standards of museum provision throughout Wales. We represent all types of museums – national, local authority, university and independent – and their staff whether paid or volunteer. The charity promotes good practice in museums and galleries and provides support, advice and a forum for discussion of museum issues affecting members.

The charity has built its capacity to deliver by a series of grant applications and by working in partnership with other sector bodies. It has also utilised funds from its reserves on occasion to support this work (e.g. in providing grants for Welsh Museums Festival events, funding for Welsh places on UK-wide sector training schemes).

By its very nature as a membership-funded, voluntary-run organisation, the capacity of the charity will ebb and flow depending on the availability of its committee to undertake additional roles, funding available and the activity of its partners and stakeholders.

Page 6

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

Core work

The following is undertaken by the core Trustee committee and funded by membership fees (supplemented by reserves if deemed necessary by the Federation committee):

• Advocate for the sector by responding to consultations, sitting on steering groups and boards, meeting the Minister with culture portfolio annually and forging positive working relationships with key sector bodies and relevant partners

Additional work

The following is certainly desirable for the charity to deliver, but is undertaken as and when the Federation committee decides it has additional financial resource and capacity available to undertake. This will include decisions around using the charity’s reserves, partnering with other organisations, securing external funding to deliver (and therefore is also dependent on the committee’s capacity to apply for grants):

Further detail of the charity’s activity can be found in its Business Plan and associated Action Plan.

Page 7

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Objectives and activities (continued)

d. Grant-making policies

In line with its aims and objective the charity will optimise grant opportunities from a range of public and private sources. Since 2010 the charity has been fortunate to access funding on an annual basis from the Welsh Government to offer a grants scheme to eligible member museums. Grants are currently offered to support the maintenance of Accreditation standards and widen access to the museums and their collections, to enable museum staff to access professional training and attend conferences and to facilitate sector wide research, resilience and an annual Welsh Museums Festival.

Grants from Welsh Government will be shown separately on the accounts.

Depending on the Welsh Government grant amount awarded and the time in the financial year when the funding is received, funds may get allocated to several grant rounds in the same financial year and/or the subsequent year. The grant income for one financial year may therefore be significantly higher than the related expenditure and vice versa.

Achievements and performance

a. Main achievements of the Charity

A summary of the main activities for the year can be found in the Presidents Report.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b. Reserves policy

Sufficient reserves are maintained to cover predicted expenses for a period of 12 months; the trustees have agreed to maintain at least £30,000 as a reserve.

All grants awarded to the charity by other bodies are only to be used as set out in relevant grant conditions.

Free reserves at 31 March 2023 were £48,702 (2022: £52,470).

Page 8

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management

a. Constitution

The charity, formed in 1976 and registered in 2004, is governed by a constitution adopted in 2003 and amended in 2015 and 2018. The registered charity has a charity number of 1102270.

The charity is run by an Executive Committee (of between 5 and 11 members) from which the following officers – President, Secretary and Treasurer – are appointed at the AGM every 3 years.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.

c. Policies adopted for the induction and training of Trustees

Potential Trustees are identified, brought to the attention of the Trustee Board and invited to one of their meetings. All Trustees are given a copy of the Charity Commission 'Essential Trustee' Guidance to read.

d. Organisational structure and decision-making policies

The Executive Committee holds at least two ordinary meetings each year. A special meeting may be called at any time by the president or by any two members of the Executive Committee upon not less than 4 days’ notice being given to the other members of the Executive Committee of the matters to be discussed.

The president acts as chair at meetings of the Executive Committee. Quorum is achieved when at least one third of the number of members of the Executive Committee for the time being or three members of the Executive Committee, whichever is the greater, are present at a meeting.

Every matter is determined by a majority of votes of the members of the Executive Committee present and voting on the question but in the case of equality of the votes the chair of the meeting shall have a second or casting vote.

The Executive Committee keeps minutes of the proceedings at meetings of the Executive Committee.

Decisions relating to grant awards are made by co-opted members to avoid any conflicts of interst.

e. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Page 9

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the 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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. 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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Nêst Thomas

................................................ N Thomas President

Date: 19/12/2023

Page 10

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023

Independent examiner's report to the Trustees of The Federation of Museums and Art Galleries of Wales ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Page 11

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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 accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 26 January 2024 S J Tweedie BSc FCA DChA

Belmont House, Shrewsbury Business Park, Shrewsbury SY2 6LG

Page 12

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations and legacies
3
Investments
4
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
10,595
363
10,958
8,973
8,973
1,985
(5,753)
(3,768)
52,470
(3,768)
48,702		 Restricted
funds
2023
£
274,151
-
274,151
269,191
269,191
4,960
5,753
10,713
68,636
10,713
79,349		 Total
funds
2023
£
284,746
363
285,109
278,164
278,164
6,945
-
6,945
121,106
6,945
128,051		 Total
funds
2022
£
401,875
8
401,883
539,603
539,603
(137,720)
-
(137,720)
258,826
(137,720)
121,106

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 15 to 26 form part of these financial statements.

Page 13

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023

Note
Fixed assets
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
12
Unrestricted funds
12
Total funds		 19,441
122,208
141,649
(13,598)		 2023
£
-
128,051
128,051
128,051
79,349
48,702
128,051		 298
254,182
254,480
(133,374)		 2022
£
-
121,106
121,106
121,106
68,636
52,470
121,106

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Nêst Thomas 19/12/2023

................................................

N Thomas President

Date:

The notes on pages 15 to 26 form part of these financial statements.

Page 14

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. General information

The Federation of Museums and Art Galleries of Wales is a charity, formed in 1976 and registered in 2004 in Wales. The charity is governed by a constitution adopted in 2003 and amended in 2015 and 2018. The registered charity number is 1102270.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Federation of Museums and Art Galleries of Wales meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.3 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 allocated on the portion of the asset’s use.

Page 15

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.3 Expenditure (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.4 Government grants

Government grants are accounted for in the Statement of financial activities on receipt, with the expenditure accounted for as incurred.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

Page 16

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Unrestricted
funds
2023
£
Donations
10,553
Government grants
-
Similar incoming resources
42
10,595
Total 2022
11,875		 Restricted
funds
2023
£
-
274,151
-
274,151
390,000		 Total
funds
2023
£
10,553
274,151
42
284,746
401,875		 Total
funds
2022
£
11,815
390,000
60
401,875

All Government Grants come from the Welsh Government and are allocated to different grant funds to be distrributed by the Federation.

Page 17

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. Investment income

Unrestricted
funds
2023
£
Investment income - bank interest
363
Total 2022
8		 Total
funds
2023
£
363
8		 Total
funds
2022
£
8

5. Analysis of grants

Grants
Total 2022		 Grants to
Institutions
2023
£
198,529
352,397		 Grants to
Individuals
2023
£
-
36,350		 Total
funds
2023
£
198,529
388,747		 Total
funds
2022
£
388,747

39 Grants were given to organisations during the year. These were from a variety of restricted funds and for purposes as described in the Trustee report.

Page 18

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. Analysis of grants (continued)

The Charity has made the following material grants to institutions during the year:

Name of institution
Rhondda Heritage Park
Yr Ysgwrn
Penmaenmawr
Y Gaer
Conwy Culture Centre
Pontypridd Museum
Ceredigion CC
Parc Howard
Museum of Cricket
MonLife
Tenby Museum
Judges Lodgings
Torfaen Museum Trust
Storiel Museum
Greenfield Valley
Newport Museum
Menai Bridge
RWF Museum
Carmarthenshire Museum
Abertillery Museum
Other grants to institutions		 2023
£
13,576
11,096
11,013
23,224
7,600
10,000
8,964
6,857
5,210
13,988
4,335
4,927
15,500
3,129
4,932
3,019
3,000
8,247
4,117
2,685
165,419
33,110
198,529

Page 19

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2023
£
Direct costs
8,973
Total 2022
8,268		 Restricted
funds
2023
£
269,191
531,335		 Total
2023
£
278,164
539,603		 Total
2022
£
539,603

7. Analysis of expenditure by activities

Direct costs
Total 2022		 Activities
undertaken
directly
2023
£
79,635
150,856		 Grant
funding of
activities
2023
£
198,529
388,747		 Total
funds
2023
£
278,164
539,603		 Total
funds
2022
£
539,603

Page 20

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Development officer
Advocacy
Accountancy
Committee expenses
Bank Charges
Insurance
Publications and printing
Website
Sundry
Grant programme makers
Grant administration
Grants other expenditure
Consultant fees
Total 2022		 Activities
2023
£
6,000
-
1,620
259
60
411
329
8,294
3,500
-
39,779
16,032
3,351
79,635
150,856		 Total
funds
2023
£
6,000
-
1,620
259
60
411
329
8,294
3,500
-
39,779
16,032
3,351
79,635
150,856		 Total
funds
2022
£
11,000
2,100
480
-
15
435
936
126
703
30,857
39,004
40,000
25,200
150,856

8. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £1,270 ( 2022 - £1,180 ).

9. Trustees' remuneration and expenses

During the year, no Trustees received a remuneration or other benefits (2022 - £NIL) .

During the year ended 31 March 2023, expenses totalling £ 259 were reimbursed or paid directly to 3 Trustees (2022 - £98 ). The expenses related to travel and subsistence .

Page 21

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. Debtors

Due within one year
Prepayments and accrued income
Grants receivable		 2023
£
340
19,101
19,441		 2022
£
298
-
298

11. Creditors: Amounts falling due within one year

Trade creditors
Accruals and deferred income
Grants accrued - individual
Grants accrued - institutional		 2023
£
6,074
1,524
6,000
-
13,598		 2022
£
21,227
1,320
300
110,527
133,374

Page 22

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Austerity
European Museum of the Year
Award
CMW
Welsh Museum Festival
Spotlight
T&G grants
CCF
Winter of Wellbeing
Small Grants
Summer of Fun
Governance
Wildlife escape
Total of funds		 Balance at 1
April 2022
£
52,470
2,975
5,480
777
12,781
2,375
899
20,305
23,044
-
-
-
-
68,636
121,106		 Income
£
10,958
-
-
-
40,000
-
-
-
-
107,021
126,250
880
-
274,151
285,109		 Expenditure
£
(8,973)
-
-
-
(41,018)
(2,400)
(899)
(2,471)
(3,500)
(115,552)
(102,229)
(880)
(242)
(269,191)
(278,164)		 Transfers
in/out
£
(5,753)
-
-
-
-
25
-
-
-
8,531
(2,803)
-
-
5,753
-		 Balance at
31 March
2023
£
48,702
2,975
5,480
777
11,763
-
-
17,834
19,544
-
21,218
-
(242)
79,349
128,051

Page 23

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12. Statement of funds (continued)

The restricted funds include :

Austerity - aims to research local authority museum expenditure to gauge the impact of austerity measures imposed on local government. .

European Museum of the Year Award Fund - aims to provide funding for members to attend the European Museum of the Year Award, For the first time in its history, the EMYA Conference and Awards Ceremony will take place in Cardiff.

CCF - aims to continue the work of CMW by supporting and promoting the work and collections of Welsh museums .

Welsh Museum Festival - aims to raise awareness and highlight the positive impacts of Welsh Museums to visitors, stakeholders and the media and to support member Museums to offer creative opportunities for visitors .

Spotlight - aims to undertake a comprehensive survey of Wales' museums, and was undertaken in 2006, 2011 and 2015. We need up to date data to advocate effectively for the sector.

Small Grants - aims to enable museums to comply with standards set out in the Accreditation Scheme for Museums in the UK, and to demonstrate best practice within the scheme.

T&C Grants - aims to support member Museums staff and /or volunteers to external training and/or conferences.

Winter of Wellbeing - initiative to support the social, emotional and physical well being of all children and young people.

Page 24

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Austerity
Resliience
European Museum of the Year
Award
CMW
Welsh Museum Festival
Spotlight
ASG
T&G grants
CCF
Winter of Wellbeing
Small Grants
Total of funds		 Balance at
1 April 2021
£
60,675
2,975
80
5,480
777
10,774
7,052
67,026
3,987
100,000
-
-
198,151
258,826		 Income
£
11,883
-
-
-
-
40,000
-
30,000
-
-
320,000
-
390,000
401,883		 Expenditure
£
(8,268)
-
-
-
-
(37,993)
(4,677)
(72,882)
(3,088)
(79,695)
(296,956)
(36,044)
(531,335)
(539,603)		 Transfers
in/out
£
(11,820)
-
(80)
-
-
-
-
(24,144)
-
-
-
36,044
11,820
-		 Balance at
31 March
2022
£
52,470
2,975
-
5,480
777
12,781
2,375
-
899
20,305
23,044
-
68,636
121,106

Page 25

THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Current assets
50,300
Creditors due within one year
(1,598)
Total
48,702		 Restricted
funds
2023
£
91,349
(12,000)
79,349		 Total
funds
2023
£
141,649
(13,598)
128,051

Analysis of net assets between funds - prior year

Current assets
Creditors due within one year
Total		 Unrestricted
funds
2022
£
54,066
(1,596)
52,470		 Restricted
funds
2022
£
200,414
(131,778)
68,636		 Total
funds
2022
£
254,480
(133,374)
121,106

14. Related party transactions

Due to the nature of the charity, the museums or organisations employing TEN of our trustees N Thomas, N Blackamore, E Barnes (left at AGM) M Mason (left at AGM), C Canham, R Rogers, J Taylor, E Lewis, K Murdoch (joined at AGM), S Sandford (Joined at AGM) grants totalling £129,082 (2022: eight Trustees £123,849). The partner of Trustee N Blackamore received a grant of £3,625 for artist services provided. Two Trustees received honorariums totalling £3,500 in recognition of work beyond the role expected of a Trustee (2022: £NIL).

Page 26