2021-03-31-accounts - South Wales Miners Museum

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Registered number 04891699

SOUTH WALES MINERS MUSEUM

FINANCIAL STATEMENTS

31 March 2021

Charity Number: 1102321

M.I.Morris & Co.Ltd Chartered Certified Accountants Office 5, 1st Floor Voluntary House 112-113 Commercial Street Maesteg Bridgend CF34 9DL

SOUTH WALES MINERS MUSEUM Report and accounts Contents

	Page
Trustee Annual Report	1-2
Independent Examiners Report to the Members	3
Income and Expediture Statement	4
Balance sheet	5
Notes to the accounts	6

SOUTH WALES MINERS MUSEUM TRUSTEES ANNUAL REPORT

The trustees, who are also directors for the purpose of company law, have the pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31st March 2021 .

REFERENCE AND ADMINISTRATION DETAILS

Registered Charity Name

South Wales Miners Museum

Registered number

04891699

Registered Charity Number

1102321

Independent Examiner

M.I.Morris & Co. Office 5, 1st Floor, Voluntary House 112-113 Commercial Street Maesteg Mid Glamorgan CF34 9DL

TRUSTEES

Mr.E.Walters Mr. C. R. Day

DIRECTORS

Mr.E.Walters Mr. C. R. Day Mrs. P.Davey Miss. C. Rodger Mr. B.Ronan Mr. R.D. Hughes Mr.R.D.Lewis

Secretary

Mr.E.Walters

OBJECTIVES AND ACTIVITIES

The main objective of the charity, for public benefit, is to assist in the regeneration of the community by providing easy access to information of their social, cultural and industrial heritage. This includes educating the community and making them aware by means of exhibits and artifacts of equipment, photographs, documents, maps and literature. This awareness through exhibitions and information will continue to develop and protect the rural and cultural heritage of the South Wales Coalfield.

ACHIEVEMENTS AND PERFORMANCE

The museum has recently undertaken a major refurbishment with the access road and museum building being rebuilt and the interior museum being totally redesigned. It reopened to the public in January 2009 and continues to be one of the main attractions within the Afan Argoed Country Park. The financing of the project was through grants from the National Assembly for Wales, Neath & Port Talbot Council, The Heritage Lottery, Coalfield Regeneration, Upper Afan Forum, WCVA, Wales Cooperative Centre Limited. In addition there have been fundraising activities within the Community to assist with the costs.

RESPONSIBILITIES OF THE TRUSTEES

The trustees (who are also directors for the purpose of company law) are responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (UKGAAP).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure of the charitable company for that period.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

INDEPENDENT EXAMINER

M.I.Morris & Co. Ltd has been proposed to the trustees and approved to be appointed as the independent examiner for the ensuing year.

Registered Office:

M.I.Morris & Co. Ltd Office 5, 1st Floor Voluntary House 112-113 Commercial Street Maesteg Mid Glamorgan CF34 9DL

Signed on behalf of the trustees:

Mr. Elwyn Walters Director 20 September 2021

SOUTH WALES MINERS MUSEUM

INDEPENDENT EXAMINERS REPORT TO THE MEMBER OF: SOUTH WALES MINERS MUSEUM

You consider that the company is exempt from an audit for the year ended 31 March 2021. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

OPINION

In our opinion the Financial Statements give a true and fair view of the charity's affairs as at 31st March 2020 , including it's Income and Expenditure, in the year then ended and have been properly prepared in accordance with the provisions of the Companies Act 2006.

M.I.Morris & Co. Accountants, Taxation and Business Consultants

Office 5, 1st Floor, Voluntary House 112-113 Commercial Street Maesteg Mid Glamorgan CF34 9DL

20 September 2021

SOUTH WALES MINERS MUSEUM INCOME & EXPENDITURE ACCOUNT for the year ended 31 March 2021

Notes INCOME 1 Cost of sales Administrative expenses TOTAL EXPENDITURE OPERATING SURPLUS 2 Interest receivable SUPRLUS FOR THE CURRENT YEAR Tax on profit on ordinary activities RETAINED SUPRLUS FOR THE FINANCIAL YEAR	2021 £ 55,440 (100) (26,924) (27,024) 28,416 - 28,416 - 28,416	2020 £ 60,735 (4,234) (55,768) (60,002) 733 - 733 - 733

SOUTH WALES MINERS MUSEUM Balance Sheet as at 31 March 2021

Notes Fixed assets Tangible assets 3 Current assets Stocks Cash at bank and in hand 5 Creditors: amounts falling due within one year 6 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 7 Net assets Funds Resticted and Unrestricted Funds 8-11 Shareholders' funds	2021 £ 208,236 1,000 46,566 47,566 (2,559) 45,007 253,243 (105,232) 148,011 148,011 148,011	2020 £ 221,188 1,000 5,198 6,198 (2,559) 3,639 224,827 (105,232) 119,595 119,595 119,595

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

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

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

Mr. Elwyn Walters Director Approved by the board on 20 September 2021

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2021

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Fixed Assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Equipment 25% straight line. Leasehold Property Over period of lease.

Stocks

Stock is valued at the lower of cost and net realisable value.

1 Voluntary Income

Unrestricted Funds £ Grants Recievable Neath Port Talbot Council 19,622 Grants - National Heritage 15,248 Grants - South Wales Miners 400 Grants - Quatro Pub 0 Grants - Santander 3,000 Grants - Capital Items - Offset Depreciation 0 Grants - Deferred to 2020/2021 - Welsh Assembly 16,502 Coalfields Re-generation 0 Lottery 0 Port Talbot Voluntary Service 376 Other Income Voluntary Income - WCVA 0 Other Income 100 55,248 Income Resources from activitiesfor Generating Funds Unrestricted Funds £ Shop Income 0 Entrance Fees 192 192 TOTAL INCOME 55,440	Total Funds 2020 £ 19,622 15,248 400 0 3,000 0 16,502 0 0 376 0 100 55,248 Total Funds 2019 £ 0 192 192 55,440	Total Funds 2019 £ 0 38,504 0 2,420 4,808 0 21,000 27,789 0 0 0 522 95,043 Total Funds 2018 £ 503 2,626 3,129 98,172

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2021

2 Operating profit This is stated after charging: Depreciation of owned fixed assets 3 Tangible fixed assets Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 5 Cash at Bank and in Hand Bank CCLA Account Bank Current Account Cash in Hand 4 Creditors: amounts falling due within one year Accruals and Deffered Income 5 Creditors: amounts falling due after one year Accruals and Differed Income 8 Restrictd Income Funds 6 Income & Expenditure Account At 1 April 2020 Profit for the year	Leasehold Property £ 353,813 - 353,813 132,577 12,952 145,529 208,284 221,236	2021 £ 12,952 Equipment £ 30,166 - 30,166 30,214 - 30,214 (48) (48) 2021 £ 2,696 2,403 100 5,199 2021 £ 2,559 2021 £ 105,232 2021 2021 £ 119,595 28,416	2020 £ 14,500 Total £ 383,979 - 383,979 162,791 12,952 175,743 208,236 221,188 2020 £ 10,620 14,472 100 25,192 2020 £ 2,559 2020 £ 105,232 2020

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2021

9 10 11	At 31 March 2021 Restricted Income Funds Awards for all Wales Communities First Trust Unrestricted Income Funds Balance at 01 April 18 £ Maintenance of Engine 14,528 General Funds 71,952 86,480 TOTAL FUNDS 86,619 Analysis of Net Assets between Funds Tangible Fixed Assets Restricted Income Funds Unrestricted Income Funds: Designated Funds 208,236 General Funds - 208,236 Total Funds 208,236	Incoming Resources £ 55,440 55,440 Net Current Assets 139 44,868 44,868 45,007	148,011 127 12 139 Outgoing Resources £ (27,024) (27,024) Long Term Liabilities (105,232) (105,232) (105,232)	127 12 139 Balance at 31 Mar 2019 £ 14,528 100,368 114,896 115,035 Total 139 147,872 - 147,872 148,011

SOUTH WALES MINERS MUSEUM Detailed profit and loss account for the year ended 31 March 2021

Sales Cost of sales Gross profit Distribution costs Administrative expenses Operating profit Interest receivable Profit before tax	2021 £ 55,440 (100) 55,340 #REF! (26,924) #REF! - #REF!	2020 £ 60,735 (4,234) 56,501 #REF! (55,768) #REF! - #REF!

SOUTH WALES MINERS MUSEUM Detailed profit and loss account for the year ended 31 March 2021

Income Grants - NPTCBC Grants - National Heritage Grants - South Wales Miners Grants - Quatro Pub Grants - Santander Grants - Capital Items - Offset Depreciation Grants - WCVA Grants - Deferred to 2020/2021 - Welsh Assembly Shop Income Entrance Fees Lottery Trsf from COIF Refund from HSBC Other Income/Donations TOTAL INCOME Interest Recievable Cost of sales Museum Purchases Administrative expenses Employee costs: Wages and salaries Employer's NI Members Uniform Travel and subsistence Motor Rental Premises costs: Rent Light and heat General administrative expenses: Telephone and B.Band Stationery and printing General Office Costs Bank charges Insurance Equipment Web Site Design & I.T. Costs Repairs and maintenance Depreciation Donations Legal and professional costs: Accountancy fees WCVA Reach Publishing Ffilm Cymru Advertising and PR General Fees	2021 £ 19,622 15,248 400 - 3,000 - - 16,502 - 192 - - 376 100 55,440 - 100 - - - 1,105 - 1,105 - 871 1,115 668 1,321 - 17 969 - 2,005 1,052 12,952 - 19,154 650 - - - - 4,900	2020 £ - 15,415 2,483 3,310 - - - 22,000 503 2,626 5,388 8,000 - 1,010 60,735 - 4,234 17,764 1,717 909 2,009 1,112 23,511 3,041 2,770 5,811 1,154 833 - - 989 240 769 1,836 14,500 288 20,609 650 131 733 - 82 4,241	2020

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SOUTH WALES MINERS MUSEUM Detailed profit and loss account for the year ended 31 March 2021

TOTAL EXPENDITURE PROFIT/ (LOSS) FOR THE CURRENT YEAR	2021 £ 5,550 27,024 28,416	2020 £ 5,837 60,002 733	2020

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