2022-03-31-accounts - South Wales Miners Museum

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Registered number 04891699

SOUTH WALES MINERS MUSEUM

FINANCIAL STATEMENTS

31 March 2022

Charity Number: 1102321

M.I.Morris & Co.Ltd Accountants, Taxation and Business Consultants 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 2022

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 Mr. B.Ronan

DIRECTORS

Mr.E.Walters Mr. C. R. Day Miss. C. Rodger 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 6 September 2022

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 2022. 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 2022 , 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

6 September 2022

SOUTH WALES MINERS MUSEUM INCOME & EXPENDITURE ACCOUNT for the year ended 31 March 2022

Notes INCOME 1 Cost of sales Administrative expenses TOTAL EXPENDITURE OPERATING SURPLUS 2 SUPRLUS FOR THE CURRENT YEAR Tax on (loss)/profit on ordinary activities RETAINED SUPRLUS FOR THE FINANCIAL YEAR	2022 £ 31,985 (223) (39,316) (39,539) (7,554) (7,554) - (7,554)	2021 £ 55,440 (100) (26,924) (27,024) 28,416 28,416 - 28,416

SOUTH WALES MINERS MUSEUM Balance Sheet as at 31 March 2022

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	2022 £ 195,284 5,000 30,689 35,689 (2,559) 33,130 228,414 (87,957) 140,457 140,457 140,457	2021 £ 208,236 1,000 46,566 47,566 (2,559) 45,007 253,243 (105,232) 148,011 148,011 148,011

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 10 September 2022

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2022

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

Grants Recievable Neath Port Talbot Council Grants - National Heritage Grants - South Wales Miners Grants - Quatro Pub Grants - Santander Grants - Capital Items - Offset Depreciation Grants - Deferred to 2020/2021 - Welsh Assembly Coalfields Re-generation Lottery Port Talbot Voluntary Service Other Income Voluntary Income - WCVA Other Income	Unrestricted Funds £ 129 13,630 0 0 0 12,952 0 706 0 0 0 2,039 29,456	Total Funds 2022 £ 129 13,630 0 0 0 12,952 0 706 0 0 0 2,039 29,456	Total Funds 2021 £ 19,622 15,248 400 0 3,000 0 16,502 0 0 0 0 522 55,294

Income Resources from activitiesfor Generating Funds

Shop Income Entrance Fees TOTAL INCOME	Unrestricted Funds £ 0 2,529 2,529 31,985	Total Funds 2022 £ 0 2,529 2,529 31,985	Total Funds 2021 £ 0 192 192 55,486

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2022

2 Operating profit This is stated after charging: Depreciation of owned fixed assets 3 Tangible fixed assets Cost At 1 April 2021 At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 5 Cash at Bank and in Hand Bank CCLA Account Bank Current Account Cash in Hand Other 4 Creditors: amounts falling due within one year Accruals and Deffered Income 5 Creditors: amounts falling due after one year Accruals and Differed Income 6 Income & Expenditure Account At 1 April 2021 Loss for the year At 31 March 2022	Leasehold Property £ 353,813 353,813 145,529 12,952 158,481 195,332 208,284	2022 £ 12,952 Equipment £ 30,166 30,166 30,214 - 30,214 (48) (48) 2022 £ 2,700 17,990 - 10,000 30,690 2022 £ 2,559 2022 £ 87,957 2022 £ 148,011 (7,554) 140,457	2021 £ 12,952 Total £ 383,979 383,979 175,743 12,952 188,695 195,284 208,236 2021 £ 46,566 0 2021 £ 2,559 2021 £ 105,232

SOUTH WALES MINERS MUSEUM Detailed profit and loss account for the year ended 31 March 2022

Sales Cost of sales Gross profit Distribution costs Administrative expenses Operating profit Profit before tax	2022 £ 31,985 (223) 31,762 #REF! (39,316) #REF! #REF!	2021 £ 55,440 (100) 55,340 #REF! (26,924) #REF! #REF!

SOUTH WALES MINERS MUSEUM Detailed profit and loss account for the year ended 31 March 2022

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 Merchendise Refund from HSBC Other Income/Donations TOTAL INCOME Interest Recievable Cost of sales Museum Purchases Administrative expenses Employee costs: Travel and subsistence Premises costs: Light and heat NPT Fee General administrative expenses: Telephone and B.Band Stationery and printing International Luxemburg Bank charges Insurance Web Site Design & I.T. Costs Repairs and maintenance Depreciation Christmas Giifts Legal and professional costs: Accountancy fees General Fees TOTAL EXPENDITURE PROFIT/ (LOSS) FOR THE CURRENT YEAR	2022 £ 129 13,630 - - - 12,952 - - - 2,529 706 - 2,039 31,985 - 223 1,392 1,392 2,529 387 2,916 516 5,873 - 25 1,032 - 2,856 12,952 331 23,585 650 10,773 11,423 39,539 (7,554)	2021 £ 19,622 15,248 400 - 3,000 - - 16,502 - 192 - 376 100 55,440 - 100 1,105 1,105 871 244 1,115 668 1,321 170 17 969 2,005 1,052 12,952 - 19,154 650 4,900 5,550 27,024 28,416	2021

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