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