2023-03-31-accounts - South Wales Miners Museum

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Registered number 04891699

SOUTH WALES MINERS MUSEUM

FINANCIAL STATEMENTS

31 March 2023

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 2023

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 25 May 2023

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 2023. 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

25 May 2023

SOUTH WALES MINERS MUSEUM INCOME & EXPENDITURE ACCOUNT for the year ended 31 March 2023

Notes INCOME 1 Cost of sales Administrative expenses TOTAL EXPENDITURE OPERATING SURPLUS 2 SUPRLUS FOR THE CURRENT YEAR Tax on profit/(loss) on ordinary activities RETAINED SUPRLUS FOR THE FINANCIAL YEAR	2023 £ 38,642 (456) (30,506) (30,962) 7,680 7,680 - 7,680	2022 £ 31,985 (223) (39,316) (39,539) (7,554) (7,554) - (7,554)

SOUTH WALES MINERS MUSEUM Balance Sheet as at 31 March 2023

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	2023 £ 182,428 3,441 45,198 48,639 (3,000) 45,639 228,067 (79,930) 148,137 148,137 148,137	2022 £ 195,284 5,000 30,689 35,689 (2,559) 33,130 228,414 (87,957) 140,457 140,457 140,457

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 25 May 2023

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2023

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 - NPT CVS Grants - Grandffa Cymuneddol 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 £ 11,300 0 1,000 2,500 5,000 12,904 0 0 0 0 0 2,679 35,383	Total Funds 2022 £ 11,300 0 1,000 2,500 5,000 12,904 0 0 0 0 0 2,679 35,383	Total Funds 2021 £ 129 13,630 0 0 0 12,952 0 0 0 0 0 522 27,233

Income Resources from activitiesfor Generating Funds

Shop Income Entrance Fees TOTAL INCOME	Unrestricted Funds £ 697 2,562 3,259 38,642	Total Funds 2022 £ 697 2,562 3,259 38,642	Total Funds 2021 £ 706 2,529 3,235 30,468

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2023

2 Operating profit This is stated after charging: Depreciation of owned fixed assets 3 Tangible fixed assets Cost At 1 April 2022 At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 5 Cash at Bank and in Hand Bank CCLA Account Bank Current Account - 91352113 Other - 23910288 Other - 73910261 4 Creditors: amounts falling due within one year Accruals and Deffered Income Other creditors 5 Creditors: amounts falling due after one year Accruals and Differed Income 8 Restrictd Income Funds 6 Income & Expenditure Account At 1 April 2022 Profit/(loss) for the year	Leasehold Property £ 353,813 353,813 158,481 12,904 171,385 182,428 195,332	2023 £ 12,904 Equipment £ 30,166 30,166 30,166 - 30,166 - - 2023 £ 2,725 11,448 13,095 17,930 45,198 2023 £ 1,000 2,000 3,000 2023 £ 79,930 2023 2023 £ 140,457 7,680	2022 £ 12,952 Total £ 383,979 383,979 188,647 12,904 201,551 182,428 195,332 2022 £ 46,566 0 2022 £ 2,559 - 2,559 2022 £ 87,957 2022 148,011 (7,554)

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2023

At 31 March 2023

148,137 140,457