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**
1
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**
2
## **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**
3
## **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**|
|---|---|---|
4
## **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**
5
**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**|
|---|---|---|---|
6
## **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|
|---|---|---|---|
6
## **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!|
|---|---|---|
8
## **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**|
|---|---|---|---|
6.1