Charlty number: 1102270 THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ffederasiwn Amgue&)feydl Cymru Museums Federation Cymru WR Partners Protecting your future.
THE FEDERATION OF MUSEUMS AND ART GALLERIE8 OF WALES CONTENT8 Page R•feronce and athnlnlstratlvo dotails of Ihe Charty, ft8 TnMto01 and advl8ors Chalfman's •tstgm•nt Trugtso•' report Ind•p•nd•nt •xamln•r'$ roport Statsrnont of finan¢lal actlvltle• 8-10 13 Balance sheet 14 Notas to the Ilnan¢l•l glat•monl* 15-26
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALE8 REFERENCE AND AOMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTÉÉS AND ADVISERS FOR THE YEAR EMDED 31 MARCH 2025 Trust•es K Griffin, President (appoint•d 7 Octobef 2024} N BlaGk8more, Treasurer C Canham, Secfetary C Whittaker, Vice President A Dealhe, Membership Officer (resigned 7 October 20241 E Lewis. Chair A Rees {resigned 7 OGlober 2024) K Murdoch N Thomas R Rogers S Sandford. Web Officer C Davies (appointed 7 October 2024) Charlty raglst•rnd nUMr 1102270 Prlnclpal office cedigion Muesum The Collseum Terrace Road Aberysfvryth Ceredigion SY23 2AQ Accounlants WR Partners Chartered Accountants Belmont House Shrewsbury 8u$ines$ Park Shrewsbury Shropshlre SY2 6LG Page 1
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES PRESIDENTS REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Presidont pr¢¥ents his statement for the year. Annual Report for Year ¢ommen¢ing 1 Aprll 2024 to 31 Mar¢h 2025 This ieport ¢overs the pènod from 1 st April 2024 until 31st March 2025. The Federation has conlinued its core mission of supporting museums across Wales, navigating ongoing financial pressures while activety working to strengthen the seclorfs resilience and community engagement. This year was pa'CUlarlY focused on reinforGing key strategic partnerships, developing and delivering vital grant programmes, and improving the Federation's own govemance and opeFalional efficiency. The Board extends Its gratUde lo all ils member3. partners, and the dedicated Development and Grants Officer fof Iheir invaluable Gonlribubons throughout the year. Governance The Federation's board mel on a number of occasions during the year. holding four key meetings in June. September, December, and Mafch. There was also the AGM, which took place in October at Ceredigion Museum. The board currenty has ten Trustees. Nigel Blackamore (Treasurer), Carrie Canham (Secretary), Carly Davies. Ken Griffin (President). Esta Lewis (Chair). Karen Murdoch, Rachael Rogers, Susan Sandford (Vveb Officer), Nést Thomas. and Carol Whthaker (Membership Officer). Additionally, Andrew Deathe and Arran Rees left their positions as trustees at the 2024 AGM. The Federation has also benefiled from the support of three co-opted members {Dlane Gwilt, Rhian Hall. and Jane Henderson) and observers, representing the Welsh Government Culture Division (Elizabeth Bennett and Sara Maggs}. Amgueddfa Cymru - National Museum Wales (Mark Ethendge and Sioned Hughes) Ihe National Trust Isusanne Gronnow), and the Museums Association (Alice Briggs), have been inslrumental in maintaining our strong links with these key strale9ic bodies. Robin Johnson, from the Group for Education in Museums (GEM). was invited as a new observer dunng the year. Finally. the board was supported by a part-time Development Officer Chris Delaney, whose work is funded via membership subscnptions. At the AGM in October, Ken Griffin was elected as the new President of the Federallon. Further changes look place during the year, with Carol Whittaker taking over as Membership Secretary and Esta Lews as Chair. The AGM agreed that the board should continue woiking towards the Iransilion of the Federation's status from an unincorporated ¢harily to a Charitable Incorporated Organisation (CIO), This has been led by Carrie Canham (Secretary) and has been a major focus of the board's work this year. It will streamline our operations and strengihen our legal framework for the fulure. Susan Sandfoid {Web Officer) provided training in using Outlook and OneDrive. Page 2
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES PRESIDENTS REPORT ICONTINUEDI FOR THE YEAR ENOED 31 MARCH 202S Advocacy and Partnerships The Federation has worked diligently throughout the year lo advocate for the Welsh museurn sector and to foster key partnerships with strategic bodles. Welsh Government Our relationship %Mlh the Welsh Government remained robust. culminab'ng in a productNe meellng wlh the Minister for Culture, Skills and Social Partnership, Jack Sargeant, in January 2025. Federation representatives, including the President, and the Museums Association. presenled compelling evidenre on the signthcant uplift in wellbeing experienced by visitors and volunleers through engagement wilh museum seiCe$, as well as the pivotal rol8 museums play in fostering ¢ommunity cohesion and pefsonal enrichment. The meeting also provided an opportunity to highlighl the seclo¢s proactive delivery on the ambitions of the Anti- racist Wales Action Plan (ArWAP), with concrele examples of impactful iniliatives bèing shared with Ihe Minister. We drew attention to the recent austerity report, undersconng the severe budgetary constraints facing museums and making il clear that while the sector is committed to deliverin9 Posltive social outcomes. these financial pressures are a significant hindrancp. Following th8 meeting, the Welsh Government's Culture Division requested a proposal for funding to support the local museum sector in the coming year. A business case for Ihree-yeai funding agreement was submitted to support grant progfammes and conferences. providing a stronger foundation for lon*temi planning and sustainability. The Federation also worked with the Welsh Govemmenl on two key consultations.. "Draft Priorilies for Culture. and the "Impact of Funding Cuts for Culture and Sport,. submitting completed responses and encouraging members to do the same. The Federation attended Welsh Museum Support Roundlable with collea9ues from the Welsh Govèrnment and Amgueddfa Cymru in November 2024 to review a draft 'Statemenl of Intent" outlining the role of each organisati¢)n regarding museum development and support. Amgueddfa CymrLt- National Museum Wales IAC-NMW} The Federation maintained an active dialogue wilh AC-NMW. Board members contributed to the consultation on Amgueddfa Cymru's Collection Development Strategy. Additionally. thè Fedèration continued to partner wlh AC- NMW on the Wales REACH project and collaborated on an in-person event for the Our Broken Planet programme. Museums Association Our close working relationship with the hhuseums Association {MA} continued. The Federation played significant role in the planning for the MA Conferenee 2025, which is to be held in Sl Fagans in October. Meetings have taken place regularly to dlscuss conference planning. review proposals, and lo decide panels and hosts. The FeLleration is committed lo ensuring the conference is a success and provides a plattoTm for Welsh museums to showcase their vilal work. Membership As of 31 March 2025, the Federation's membership stood al 46 museumls8rvic8 memberships and 15 individual memberships, representing approximately 72 museums. A dedicated effort was made lo encourage renewals from the remaining 23 Accredited museums that had not yel renewed their membership. This process involved direct emails and communication via mentors. A key operational irnprovement this year w8S the Inlroduelion of a new online payment System via Stripe, which was Successfully ulilised by 19 members by March 2025. This system will $lreamlin8 the membership process movlng foTward. Page 3
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES PRESIOENTS REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Grant Programmes 202412025 The Federation administered several vital grant programmes throughout the year. all funded by the Welsh Government. The role of Grants Officer. also funded by the Walsh Government, was fulfilled by Chris Delaney. These programmes provided much•needed financial support to museums and professionals across the country. The three grant programmes were all closed before the end of the financial year with all project granls claimed. We had approval lo spend residual grant resources still in our accounts. This slippage has been used lo offer grants in advance ol the MA Conference in Cardiff In the autumn 2025 and some additional small granl projects. Small Giant Programme The Small Grant Programme delivered a total of 41 awards across two funding rounds during the year. The Initial spring round, which launched in April, was heavily oversubscribed, receiving 26 applicalions that requested a total of £97.748. In lolal. 41 claims fof the awards, amouTrting lo ovèr £121,897. were processed by year•end. Training & Conference Grant Programme This programme was also launched in April and supported 18 approved applications. A total of £9.656 was awarded and Glaimed by year-end. A key outcome of this programme was the support il provided lo 16 staff members who were abFe to attend the MA Conference with grant assistance. The fund also enabled speakers to represent Wales at Ihe MA conference Welsh Museums Festwal The Wolsh Museums Festival granl programme was launched in July and proved to be extremely popular. The programme successfully supported 21 awards with a final expenditure of £9,901. The festival delivered a high number of aclivilies, ¥Mth evaluation suggestin9 a significant posrtive impact on participating organisations and public engagement. We would like to extend our sincere thank5 to Rachael Rogers and the consullanl. Carys Mair Thomas, for their delivery of this programme. Annual cOnfence The Federation's annual Gonference was held on 6th March al the Taliesin Arts Centre Nmthin the Swansea Univeisity campus. This marked our first in-person evenl since 2020 and proved lo be a considerable sucGes$, with nearly 50 delegates in attendance who noted how special il felt to gather and discuss together once again. The central theme ol the Gonference was "Museums after 25 Years of a Devolved Government., with five spèakers highlighting thé progress. successes. and challenges faced by the seclor since the Govemment of Wales Act 1998. We were grateful that Jack Sargeant, Welsh Minister for Culture, Skills. and Social Partnership. was able lo join us and deliver the opening remarks. Page 4
THE FEDERATION OF MVSEUMS AND ART GALLERIES OF WALES PRESIDENTS REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Projects The Development and Granls Officer eontinued to work on several key projects that expand the Federation's reath and impact beyond direct grants. Our Broken Planet.. The Federation continued its collaboration with the Natural History Museum on their public programme. 1¢h alms to engage younger, more diverse audiences across the UK with onlemporory science research and environmental challenges. This network aspires to share contemporary science research relating lo local collecllons and environmental challenges. An in-per30n event was held in Cardiff in November, linking to Climate Change Weèk events, with a secondary event at Big Pll. Museums, Collects'on$. and Cynefin.. The Federation continued Ils partnership with Dr. Madan Gwyn on this project. The final year of this initiative saw the participation of a furthef 8 museums in mid and south Wales, w¢th a focus on delivering a lasting legacy for the partlCiP8nts. Wales REACH.. The Federation continued its partnership in this Open University and Arngueddfa Cymru lottery project. which Seeks to work wilh dlsadvantaged ¢ommunities and use rnuseum seNices to facilitate posStive change and engagement On behalf of the Board of the Federation of Musèums and Gameries of Wales K Griffin President The Federatson of MuuM$ and Art Gallertes of Wales Page 5
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES TRUSTEES. REPORT FOR THE YEAR ENOED 31 MARCH 2026 The Trustees present their annual report together with the financial statements of the Charity ft)r Ihe period from 1 April 2024 to 31 March 2025. Objoctivos and activltios Polici8s and objèctives Our mission 15.. We support and advocate for the highest slandards of museum provision throughout Wales, lor the people of Wales. Our key messages are.. 1 . Museums empower people through leaming, participation and inspiration 2. Museums and their collections strengthen community idenity and welkbeing 3. Mvseums make a significant economic contrlbution through tourism and regeneration Our chaiitable objectives are. 1. To promote the highest pmfessional standards of work and public service In museums and art galleriès 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 educalion through promotion and maintenance of high-quality museum and art gallery lifelong leaming setvices In setting objectives and planning for activities, the Trustees have given due consideration lo genéral guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefil: running charty {P82)'. b. Strategles for athlèving obJ•ctlves The charity is the slfategic body for museum and art gallery professionals in Wales. advocating for the highest standards of museum provision Ihroughout Wales. We represent all types of museums national, local authority, university and independent and their staff whether paid or volunteer. Thè charity promotes good practice in museums and galleries and provides support, advice and a forum for discussion of museum issue¥ affecting members. Thè 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 ils reserves on o¢¢asion 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, volunlary-run organisalion, thè capacity of the charity will ebb and ftow depending on the availability of its committee lo undértake additional roles, funding available and the activity of ils partners and gtakeholders. Page 6
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectlves and a¢tlvitits l¢ontinuod) c. Actlvltlos undortak8n to achlove objecllves Core work The followlng is undertaken by the core Trustee committee and funded by membership fees (supplemented by reserve$ if deemed necessary by the Federatioro committee) Publish Y Mag bNice a year. lo disseminate besl practice and provide a sourGe ol advice and support Enable access to a Jiscmail email service. providing a key cornmunication tool for the sector. a source of advice and support Communicate with the sector and beyond through a dedicated website and social media channel (Twitter) Support sector lo improve Standards through training, creation of guidance and toolkits Advo¢ate for the sector by responding lo Consultations, sitting on sleerlng groups and boards. meeting the Minister wrth Culture portfolio annually and fofging positive workin9 relationships with key sector bodies and relevant partners Support the membership to engage with key sectorlsocietal issues through advocacy comfflunication. working with partners, signposting to support Run bNO key events annually- Welsh Museums Conference and Federation AGM Administer the Cefnl Barnet grant fund, lo enable small grants for museum object-based research by members Additional Wofk The following is certainly desirable for the charity to deliver, but is undertaken as and when the Federatton committee decides it has additlonal financial resource and capacity available to undertake. This will include decisions around using Ihe charity's reserves, partnering th other organisalions. securing external funding to deliver land therefore is al$0 dependent on the committee's capacity lo apply for grants).. Employment of freelance Development Officer (currently 2 days a monthl to build capacity of Federation lo undertake advocacy work. organise its annual conferenGe and dellver ils core work Run and manage the annual Welsh Museums Festival Run the annual Welsh Museums Day (an annual advocacy day) Work wilh sector bodies to collect data to evidènce value of thè Welsh sector Provision of an Accredilaiion Support Grants scheme Provision of a Tralning and Conference Grants scheme Employment of freelance Grants Officer to administèr grant scheme Provlde tfaining sessions specificalty for members • Provision of places on WelshlUK-wide sector traininglsupport schemes Coordinate submission of papeis to sector conferences, disseminating Welsh best practice Further detail of the charity's actlvity can be found in 11$ Business Plan and asso¢lated Action Plan. Page 7
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Obj9Ctlves and acl1vlt1 (continued d. Grant4naking policies In line with its aims and objective the charity will optimise grant opportunities from a rangè of public and private sources. Since 2010 the chanty has been fortunate to access funding on an annual basis Irom the Welsh Govefnment to offer a grants scheme to eligible member museums. Granls are ¢UTrently offered to support the maintenance of Accreditation standards and wdèn access to the museums and their collections, lo enable museum staff to access professional training and atlend conferences and lo facilitate sector wde 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 Ihe lime in the financial year when the funding is received. funds may gel allocated to Several grant founds in the same financial year andlor the subsequent year. The grant income for one finaneial year may therefore be significantly higher than the related expenditure and vice versa. Achlevomants and performanc a. Maln achievern?nts of th8 Charity A summary of the main activities for the year can be found in the Presidents R8POrt. Financial revigw . Going concam After making appropriate enquiriès, the Trustees have a reasonable expectation that the Charity has adequate resources to Continue in operational existence for th8 foreseeable future. For this reason, they continue to adopl the going concérn basis in preparing the financial slalements. b. R8serves policy Suffieienl resèrves are maintained lo cover predicled expenses for a period of 12 months., the Iruslees have agreed to maintain at least £30,000 as a reserve. All granls awarded to Ihe charity by olher bodies are only to be used as set out in relevant grant conditions. Free serveS at 31 MarGh 2025 were £31,284 (2024.. £34.735}. Page 8
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 RCH 2025 structure, governance and management Constilution The charity, formed in 1976 and registered In 2004 18 governed by a cor)stitution adopted in 2003 and amended in 2015 and 2018. Thè gIStered Charity has a charity number of 1102270. The charity is run by an Executive Committeè {of beeen 5 and 11 members) from which the following officers - President, Secrelary and Treasurer- are appointed at the AGM every 3 years. b. Methods of appolntment or éleetlon of Tntstoés The management of the Charity is the responsibilily of the Trustees who are elected and COvQPted under thé terms of the Conslitulion. c. Pollclès adopted for the Inductlon and tralnlng of Truste8$ Potential Truslees are identified, brought to the attention of the Trustee Board and invited lo one of their meetings. All Trustees are given a copy of the Charily Commission 'Essenlial Trustee, Guidance lo read. d. Organlsatlonal structure and dècision.making pollci96 The Executive Committee holds at lèast Iwo ordinary meetings each year. A special meeting may be Called at any lime by the president or by any two members of the Executive Commiltee upon not less than 4 days, notice being given lo the other members of the Executive Commitlee of the matters lo be discussed. The pr8sidenl acts as chair al meetings of the Executive Committee. Quorum is achieved when al least one third of the number of members of the Executive Committee for the lime bein9 or three members of Ihe Executh've Committee, whichever is Ihe greater, are presenl al a meeting. Every matter is determined by a majority of voles of the members of the ExecutNe Committee Present and voling on the quests'on bul in the case of equality of the voles the chair of the meeting shall have a second or casts'ng vote. The Executive Commrttee keeps minutes of the proceedings al meetings of the Executive Committee. Oècisions relating to grant awards are made by co-opted members to avoid any conflicts of interst. Financial risk managèmont The Trustees have assessed Ihe major risks lo which the Charity is exposed. In particular those related to Ihe operations and finances of the Charity, and are $atisfied that systems and procedures ale in place to mitigate exposure to the major risks. Page 9
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALE8 TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2026 Stat•ment of Trustees, responslbllltlos The Truslees are responsible for prepanng thè Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charits'es in England & Wales requires the Trustees lo prepare financial statements for each financial whlch give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources. including its income and expenditure, lor that period. In preparing these financial statements. the Trustees afe required lo select suitable accounts'ng policies and then apply them consistently., observe the method$ and principles of the Charities SORP (FRS 102). make iudgrnenls and accounling estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards {FRS 102) have been followed, subject lo any malenal departures disclosed and explained in the financial statements,. prepare the finanaal statements on the 90ing concèrn basis unless it is inappropriate to presume that the Charity will conts.nue In business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's Iransactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them lo ensure that the financial stalemenls comply wth the Charities Act 2011, the Charity (Accounts and Reports) Regulathons 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 irregulants"es, Approved by order of Ihe members of the board of Trustees and signed on their behalf by: //L a/1 K Grilfin President Date." tl oCT4)ll Qois Page 10
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES INDEPENDENT exAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Indop•nd•nt •xamln•¢s r•port lo tho Tru*¢o08 ol Thg F•derallon of Mu$eums and Art Gallorf•1 of Wales I'iho Charlty.) I report to the charty TNstees on my examination of the accounts of the Charity for th• year ended 31 March 2025. RMpon8lbllltlos and ba818 ot roport As the Truste83 of the Charity you are r8sponsiNe for the preparation of the accounts in accordance with the requirements of the Charilies Act 2011 ('the 2011 Act,). I report in respect of my examination of the Chariiy's accounts carried out under seclion 145 of the 2011 Act and In carrying out my examination I have followed Ihe applicable Oireth'ons given by the Charity Commission under section 145(51(bl of the 2011 Act. Page11
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES INDEPENDENT EXAMINER'S REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Indop6ndont examlnovs ststsment Your attention is drawn to the fact that the Charity has prepared the accounts in accordance wilh Accounting and Reports'ng by Charrties". Statement of Recommended Practice applicable to eharities preparing their accoun1$ in accordancè with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Chanties Statement of Recommended Practice issued on l April 2005 which is referd to In the extant regulations but has been vithdrawn. l understand that this has been done In order for the accounts to provide a true and fair view in accordance wth the Generally Accepted Accounting Practice effec*ve for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come lo my attents'on in connection with the examination giving me cause lo believe that In any material respect. accounting records were not kept in respect of the Charity as Tequired by section 130 of the 2011 Act: or the accounts do not accord with those records,. or the accounls do not comply with the appliGable requirements concefning thé form and wnlent of accounts sel OLÈI in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts givè a Irue and fair. view which Is not a matter considered as part of an independenl 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 solety to the Charity's Trustees, as a body, in accordance with Part 4 of Ihe Charilies (Accounls and Reports) Regulatson$ 2008 My work has been undertaken so that l rnighl state lo the Charity's Trustees those matters l am rèquired to stale to them In an Independent examirser's report and for no other purpose. To the fullesl extent permitted by law, I do not accept or assume responsibility to anyone other than Ihe Charity and the Charily's Trusleès as a body. for my work or for this report. Signed: Dated. S J Tweedle Bsc FCA DChA Belmont House, Shfèwsbury 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 2025 Unrestri¢ted fund8 2025 Rostrict•d fur8 2026 Total funds 2025 Total funds 2024 Note Incomo from: Donations and legacies Charitable aclivilies Investments 9,001 480 151,321 160,322 191,376 414 1,383 Total income 9.481 151,321 160,802 193, 173 Expondlture on: Charitable activities 12,930 196,564 209,494 229, 106 Totsl expendlture 12,930 196,564 209,494 229, 106 Net •xp•ndituro Transfers beell funds (3,449) 12> 145,243) 148,6921 (35.933) 13 Net movèmènt In lunds (3,451) 145.241) 148,692) (35.9331 Rèconclllatlon of nds. Total funds brought ford Net Movement in funds 34,735 13,451 57,383 (45,241) 92,118 148,6921 128,051 (35.933J Total funds carrièd forward 31,284 12,142 43,426 92,118 The Stalemerrl of financial activities includes all gains and losses recognised in the year. The notes on pages 15 to 26 form part of these financial stalemenls. Pagè 13
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Note Flxed assots Current 48$ets Debtors Cash at bank and in hand 11 799 45,027 772 93. 746 45.826 94,518 Currént Ilabllltl•• Creditors.. amowts falling due wlthin one year 12 12.400) (2.400) Net current as80ts 43,426 92.118 Total a$$etg 1099 ¢urr•nl Ilabllltles 43,426 92,118 Total not •ss•ts 43,426 92,118 Charlty ld$ Restflcted fvnds Unrestricted funds 12,142 31,284 57,383 34. 735 13 Total funds 43,426 92,118 The financial statements were approved and aLrthorised for issue by the Trusteés and signed on Iheir behalf by: K Grlffln PresKlent Date.. 11 Of_1()8 The notes on pages 15 to 26 fom 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 2025 Gènèral Inforniation The Federatlon of Museum5 and Art Galleries of Wales is a ¢harlty, formed in 1976 and registered in 2004 in Wales. The ¢harity is governed by a constitution adopied in 2003 and amended in 2015 and 2018. Th8 registered chafity number is 1102270. Ateounting pollcleg 2.1 Basis of preparation of Ilnanclal stalemonts The financial statemenls have been prepared in accordance with the Charities SORP (FRS 102) Accountin9 and Reportin9 by Charities: Statement of Recommended Practice applicable lo 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 Republtc of Ireland (FRS 1021 and the Charities Act 2011. The financial statements have been prepared lo give a 'true and fair, view and have departed from the Cttarities (Accounts and Reports) Règulations 2008 only lo Ihe extent required lo provide a 'true and fair. vlew. This departure has involved following the Charities SORP (FRS 102} published in Oclober 2019 rather than the Accounting and Reporting by Chafits'es.. Stalernenl of Recommended Praclice effective from 1 Apnl 2005 which has since been wilhdTaWn. The Federation of Museums and Art G311eries of Wales meets Ihe definition of a public benefit entity under FRS 102. Assets and liabilities are Inlllally recognised al historical cost or transaction value unSe$s otheryd¢se slated in the relevant accounllng policy. 2.2 Income All incomè is recognised once the Charily has enliUem6nl to the income. il is probable that the income will be received and the amounl of income receivable can be measured reliably. Grants are included in the Statement of flnancial activities on a receivable basis. The balance of income received for specific purposes but not exp8nded during Ihe period is Sho¥ in the relevant funds on the Balance sheet. Where income is received in advance of entiuement of receipt. its recognition is defèrred 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 fecognised at the time the investmenl income is receivable. 2.3 Expftndlture Expenditure Is rècognised once therè is a legal or constructive obligation lo transfer economic benefit lo a third paty, it is probable thal a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivlty. The costs of each activity afe made up of the total ol direct costs and shared costs, including SUPPOrt costs involved in undertaking each activity. Dired costs allributable to a single actlvity are allocaled direGtIy to th81 activlty. Shared ¢osts which contfibule lo more than one activity and support CQSts which are not attrlbutable lo a single aclivity are apportioned beeen those activities on a basis conslstent with the use of resources. Cèntral staff costs are alloGated on the basis of ts'me spent, and depreciation charges allocated on the portion of the asset's use. Page 15
THE FEDERATION OF MUSEUMS ANO ART GALLERIES OF WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounllng pollcies Icontlnued) 2.3 Expenditure lcontinugdl Expenditure on chantable activities is incurred on directly undertaking the acts'villes which further the CharlV$ objectives. as well as any associated 5UPPQrt CQ5ts. Grants payable are charged in the year when the offef is made ex¢epi in those cases where the offef is Conditional, such grants being reco9nised as expenditure when Ihe conditions attaching a fulfilled. Grants offered subject to conditions whiGh have not been met at the year end are noted as a commitment. but not accrued as expendiluTe. All expendrture is inclusive of irrecoverable VAT. 2.4 Govemment grants Other grants that are not subject lo performance-relatèd conditions are credited to the Statement of flnancial activities as Ihe grant proceeds are received. Gfants received plior to the revenue recognition crilena being satisfied are re¢ognised as a liability. 2.5 Interest récelvablo 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 inslilution wilh whom the funds are dep05iled. 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid n8t of any trade discounts due. 2.7 Cash at bank and In hand Cash at bank and in hand indudes cash and short-term highly liquid investrnents wrth a short malurily of three month5 or less from the date of acquisition or openin9 of the deposit or similar account. 2.8 Liabilities and provlsions Liabilities are recognised when there is an obligation at the Balan¢e Sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement. and the amount of Ihe settlement can be estimated reliably. Liabilities are reeognised al the amount that the Charity anticipates il will pay to settle Ihe debt or the amount il has received as advanced payments for the goods or services il musl provide. Provisions are measured at the best estimate of the amounts required to 8ettle the obligation. Where the effect of (he lime 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 lo 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 2025 A¢¢ountlng pollcl89 Icontlnuèd) 2.9 Flnancial Instrlen¢S The Charity only has financtal assets and financial Iiabillties of a kind that qualify as basic financial instruments. Basic financlal instruments are initially re¢ognised at transaction value and subsequenlty measured at their settlement value with the excèption of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.10 Fund accountlng General funds are unrestricled funds whi¢h are available for use at the diserelion of the Truslees in furtherance of the general objectives of the Charity and which have not been designated for other purposes, R•strlct•d funds are funds v4hich are lo be used in accordance with speGific restctiOnS imposed by donors or whieh havè 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 OLrt in the notes to the financial stalemenls. Investment income, gains and losses are allocated to the appropriate fund. In¢ome from donations and legaclos Unre$trlctad Restrlcted funds funds 2025 2025 Total funds 2025 rotal lunds 2024 Donations Govemmenl grants Similar incoming sourceS 8,901 8,901 181,321 100 828 190,548 151,321 100 9,001 151.321 160,322 191,376 rotal 2024 828 190, 548 191,376 All Government Grants come from the Welsh Govemment and are allocated to different grant funds to be distributed by the Federats'on. Page 17
THE FEDERATION OF MUSEUM8 AND ART GALLERIES OF WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Incomo from charltable actlvitle8 Unrestrlct•d R•strlct fund• funds 2025 2025 Total lunds 2025 Tol81 funds 2024 Income Irom charitable aciivlties- Conferences 480 480 414 Total 2024 414 414 )ve$lm8nt Income Unfestrlctod lunds 2025 Total funds 202S Total funds 2024 Investment income- bank interest 1,383 Tolal 2024 1,383 1,383 Analy3 of grants Grants to Instltutions 2025 Total nd• 2025 Total lunds 2024 Grants 148.253 148,263 144,293 Total 2024 144.293 144.293 84 Grants were given lo organi5ations durin9 the year. These were from a variety of restricted lunds and for Purposes as described in Ihe Truslee report. Page 18
THE FEDERATION OF MUSEUMS ANO ART GALLERIES OF WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Anatysl$ of grants leonllnu•d) The Charity has rnade the folknwhig mat•ri41 grants to institutions during the year". 2025 Name of In8tltutlon Plntypridd Museum National Tru$t- Erddig RCT Mu5eeum Service (cynon valey) Ceredigion Museum Gwynedd Museum SeNlce Storlal Lloyd George Yr Ysgwym SNPA Museum of Welsh Crfcket Tenby Museum Carmarthen$hire Museum Monlrfe Sir Henry Jones PenmaenmawT Museum Judges Lodging Cyfarthla Conwy CBC RWF Caemafon NanlG CVV Greenfield Valley Museum Torfaen Museum Other granls <£2.000 16.468 11745 9,668 9,437 9,086 8,285 7,440 7,213 7,132 7,114 635 6230 $945 6,189 5,018 3,307 2,709 1600 2,194 13,840 148,253 148,253 Page 19
THE FEDERATION OF MVSEUMS AND ART GALLERIES OF WALES NOTÉS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Analysls of expendlture on ¢hafltabl• activitl Summary by tund type Unre6trS¢tsd Rostrlcted funds fund$ 2025 202S Total 2025 Total 2Q24 Direct costs 12,930 196,564 209N94 229, 106 Total 2024 15.378 213,728 229, 106 Analys19 Of oxpgnditure by actlvlllos A¢tlvltl•¥ undertaken dlroctly 2025 Grant fundlng of •ellvltl•s 2025 Total funds 2024 lunds 2025 Direct costs 61,241 148.253 209,494 229, 106 Total 2024 84.813 144, 293 229, 106 Page 20
THE FEDEPATION OF MUSEUMS ANO ART GALLERIES OF WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expendlture by actlvltl•s (contlnuèd) Analy$l8 of dirgcl costs Total funds 2025 Total funds 2024 Actlvltles 2025 Development officer Conferences Advocacy Accountancy Committee expenses 8ank Charges Insurance Publications and printing Website Sun(lry Grant administratson Undefspent grants returned 6,000 1.694 3,395 2,400 704 6,000 1,694 3,395 2,400 704 6.000 975 3,900 60 597 1.038 1,221 504 1,038 1,221 504 509 43,776 1,043 2.621 1,157 4T,242 21,218 509 43.776 81,241 61,241 84,813 Tolal 2024 84.813 84 813 Indepondont oxamlnor's rfjmuneratlon The independent examiner's remunewation amounts lo an independent examiner fee of £1.140 (2024 £1, 740J, and accounts preparation of £1,26012024- £1,260). 10. Trustèès. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024- £NIL). During the year ended 31 March 2025, expenses totslling £486 were reimbursed or paid directly lo 5 Twslees (2024 £AIILI The eKpenses related to travel and subsistence in carrying out commiltee aGlivities. Total expenses paid lo 6 Trustees lo attend the Museums Association conference amounled lo £2,049 {2024. £998}. Page 21
THE FEDERATION OF MUSEUMS ANO ART GALLERIES OF WALES NOTEB TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Debtors 2025 2024 Due wlthln one y•ar Prepayments and accrnJ8d income 799 772 799 772 12. Credltor8.' Amounts falllng due vAthln one year 2025 2024 Accruals and deferred income 2,400 2,400 Page 22
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 W4RCH 202S 13. Stsl•m•nt of fundg Statgm•nt of funds - ¢urr•nt yoar Balanc• at 31 March 2025 Balancè at 1 Aprll 2024 Tran¥fer• Inlout Incom• Exp•ndlturn Unregtrlcted funds General Funds - all fvnds 34.735 9,481 112,930) (2 31,284 R•strlct•d funds Austerity Conference European Museum of the Year Award CMW Welsh Museum Festlval CCF Wlnter ol Wellbelng Small Granis AF Wild E5pe8 1975 420 1,000 13,395 {1,140 140 4,872 824 11.168 17,834 19,544 14,872) 824 11,1S2 39,901 {39.917 117,834) 119,544) 42,112 110.000 1162,1121 166 166 57.383 151,321 1196,$64} 12,142 Total of funds 92,118 180,802 (209A941 43,426 Pa9e 23
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S 13. Statement ol funds {continugd Thè restricted funds includo: Austenty aims lo research local authority museum expenditure lo gauge the impact of austerity measures imposed on local government. European Museum of Ihe Year Award Fund aims lo provide funding for members to attend Ihe European Museum of the Year Award, For the first time in ils history, the EMYA Conference and Awards Ceremony wll take place in Cardiff. CCF aims to enable museums lo comply with standards set out in the Accreditation Scheme for Museums UK. durir•9 the Covid PandemiG. Welsh Museum Festival- aims to raise awareness and highlight the positive impacls of We15h Museums lo visitors, slakeholders and the media and to support member Museums lo offer creatsve opportunities for visitors Spotlight- aims to undertake a cornprehensive survey of Wales. museums, and was undertaken in 2006, 2011 and 2015. We need up to date data lo advocate effectively for thè sector. Small Grants - aims to enable museums to comply with standards set out in the Accreditation Scheme for Museums in the UK, and to demonstrate best practice within the scheme, T&C Grants - aims to support member Museums staff and lor volunleers to extemal training andlor Conferences. Winter of Vvellbeing inltsative to support Ihe social, emotional and physical well being of a51 children and young people Page 24
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF V¥ALES NOTes TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S 13. Stat•menl of funds (¢onllnu•dl SLit•mont of funds - prlor year Balance at 31 March 2024 8alance at l Aprfl 2023 Transfers Income Expenditure Unre8trlct•d funds General Fund8 - all fund8 48. 702 2,211 (15, 378) 1800) 34. 735 Re$lrkted funds Welsh Museum Fund 2023 Austerity Conference European Museum of the Year Award CMW Welsh Museum Festival CCF Winter of Wellbeing Summer of Fun AF Wild Escapes 42.500 (43,840) 1,340 2,975 2.975 107.51)0 (107.555) 5,480 777 11.763 17.834 19,544 21,218 (242) (608) (367) 4.872 824 11.168 17,834 19.544 414 (595) (21,218) (40,140) 40,548 166 79,349 190,962 (213, 728) 800 57,383 Total of lund8 128.051 193, 173 (229. 106) 92,118 Page 25
THE FEDERATION OF MUSEUMS AND ART GALLERIES OF WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Analysls of net assets between funds Analysis of net assets between fund8 - ¢UTrent year Unrestrlcted Réstricted funds funds 2025 2025 Total funds 2025 Current assets Creditors due within one year 33,684 (2,400) 12.142 45,826 (2,400) Total 31,284 12,142 43,426 Analysls of net assets between funds - prior year Unrestrict8d funds 2024 Restricted funds 2024 Total funds 2024 Current assets Creditors due within one year 37.135 (2,400) 57,383 94,518 (2.400) Total 34, 735 57,383 92,118 15. Rélated party transactions Due to the nature of the charity, the museums or organisations employing 6 of our trustees N Thomas, N Blackamore, C Canham, K Murdoch, R Rogers and K Griffin received grants totalling £41.289 (2024.. ten Trustees £25.504). No Trustees received honorariums. Page 26