2024-03-31-accounts - South Wales Miners Museum

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Registered number 04891699

SOUTH WALES MINERS MUSEUM

Report and Accounts

31 March 2024

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 2024

REFERENCE AND ADMINISTRATION DETAILS

Registered Charity Name

South Wales Miners Museum

Registered number

04891699

Registered Charity Number

1102321

Accountants

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 Mr. M.Day Mr.R.D.Lewis

DIRECTORS

Mr.E.Walters Mr. C. R. Day Mr.R.D.Lewis Mr. M.Day Mr. B.Ronan

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 18th April 2024

SOUTH WALES MINERS MUSEUM

Report to the directors on the preparation of the unaudited statutory accounts of SOUTH WALES MINERS MUSEUM for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SOUTH WALES MINERS MUSEUM for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.

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

18th April 2024

SOUTH WALES MINERS MUSEUM INCOME & EXPENDITURE ACCOUNT for the year ended 31 March 2024

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	2024 £ 40,367 (197) (33,711) (33,908) 6,459 54 6,513 - 6,513	2023 £ 38,642 (456) (30,506) (30,962) 7,680 - 7,680 - 7,680

SOUTH WALES MINERS MUSEUM Balance Sheet as at 31 March 2024

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	2024 £ 169,528 3,441 51,711 55,152 (3,000) 52,152 221,680 (67,030) 154,650 154,650 154,650	2023 £ 182,428 3,441 45,198 48,639 (3,000) 45,639 228,067 (79,930) 148,137 148,137 148,137

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 18th April 2024

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2024

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 Schools Groups Refunds Other Income Income - Playdays Other Income	Unrestricted Funds £ 0 10,000 0 0 0 12,900 0 0 3,161 17 6,600 461 33,139	Total Funds 2024 £ 0 10,000 0 0 0 12,900 0 0 3,161 17 6,600 461 33,139	Total Funds 2023 £ 11,300 0 1,000 2,500 5,000 12,904 0 0 0 0 0 2,679 35,383

Income Resources from activitiesfor Generating Funds

Shop Income Entrance Fees TOTAL INCOME	Unrestricted Funds £ 0 7,228 7,228 40,367	Total Funds 2024 £ 0 7,228 7,228 40,367	Total Funds 2023 £ 697 2,562 3,259 38,642

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2024

2 Operating profit This is stated after charging: Depreciation of owned fixed assets 3 Tangible fixed assets Cost At 1 April 2023 At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 5 Cash at Bank and in Hand 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 2023 Profit/(loss) for the year At 31 March 2024	Leasehold Property £ 353,813 353,813 171,385 12,900 184,285 169,528 182,428	2024 £ 6,459 12,900 Equipment £ 30,166 30,166 30,166 - 30,166 - - 2024 £ 13,071 17,985 20,655 51,711 2024 £ 1,000 2,000 3,000 2024 £ 67,030 2024 2024 £ 148,137 6,513 154,650	2023 £ 7,680 12,904 Total £ 383,979 383,979 201,551 12,900 214,451 169,528 182,428 2023 £ 11,448 15,820 17,930 45,198 2023 £ 1,000 2,000 3,000 2023 £ 79,930 2023 148,011 (7,554) 140,457

9 Restricted Income Funds

Awards for all Wales 127 127 Communities First Trust 12 12 139 139

SOUTH WALES MINERS MUSEUM Notes to the Accounts for the year ended 31 March 2024

10 11	Unrestricted Income Funds Balance at 01 April 23 £ 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 169,528 General Funds - 169,528 Total Funds 169,528	Incoming Resources £ 40,421 40,421 Net Current Assets 139 52,013 52,013 52,152	Outgoing Resources £ (33,908) (33,908) Long Term Liabilities (67,030) (67,030) (67,030)	Balance at 31 Mar 2024 £ 14,528 78,465 92,993 93,132 Total 139 154,511 - 154,511 154,650

SOUTH WALES MINERS MUSEUM Detailed profit and loss account for the year ended 31 March 2024

Income Grants - NPTCBC Grants - National Heritage Grants - South Wales Miners Grants - NPT CVS Grants - Grandffa Cymuneddol Grants - Capital Items - Offset Depreciation Grants - Playdays Grants - Deferred to 2020/2021 - Welsh Assembly Shop Income Entrance Fees Merchendise Schools Groups Refunds 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 Eevent - Play Days Refreshments 50 Year Anniversary Bank charges Insurance Red Kite Homes Repairs and maintenance Depreciation Easter/Christmas Giifts Legal and professional costs: Accountancy fees WCVA Advertising and PR General Fees TOTAL EXPENDITURE PROFIT/ (LOSS) FOR THE CURRENT YEAR	2024 £ - 10,000 - - - 12,900 6,600 7,228 - 3,161 17 461 40,367 (54) 197 1,847 1,847 2,500 3,798 6,298 1,420 353 3,236 - 105 1,439 3,600 660 12,900 - 23,713 685 - 422 746 1,853 33,854 6,513	2023 £ 11,300 - 1,000 2,500 5,000 12,904 2,562 697 - - 2,679 38,642 - 456 3,873 3,873 1,818 50 1,868 627 967 - 2,991 95 1,350 - 2,473 12,904 121 21,528 650 198 389 2,000 3,237 30,962 7,680	2023

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