Charity registration number 1128924 Company registration number 06056945 (England and Wales1 LLANHILLETH MINERS INSTITUTE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
LLANHILLETH MINERS INSTITUTE LIMITED CONTENTS Page Trustees, report Independent exatniner's report 11 Slalemenl of finanGial a¢livilies 12 Balance sheet 13 Notes lo the financial 5talemen15 14-29
LLANHILLETH MINERS INSTITUTE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT} FOR THE YEAR ENDED 31 JANUAR Y 2024 The Iruslees present their annual report and financial staterThenls for the year ended 31 January 2024. The financial statements have been prepared in accordance with the acctsunling policies sel out in nole 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accountirlg and Reporting by Charities.. Slalemenl of Recomtnended Practice applicable to chairties preparing thèir accounts in accordan wth the Financial Reporting Standard app1cable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" Objeetlv•s and activits'es Mission Statsment The vibrant heart of the community, seèking to meet the changing need5 of the people it serves, arKI reflect the vision ol the miners who built It. Aims & Objectivts Providing a range of educational. cuttural and roerèational opportunities to piomole health and wellbeing. stngthen19 the tie5 to provide a locus between our cornmijnities of Aberbeeg, Brynilhel. Llanhillèth and Swffryd in a facility that is accessible, inclusive an(J has relevance lo 811. Acting as a resource where information can be accessed and where new ski115 can be learnt., enabling personal and professional development. Developing a financially viablè ènteipri5e for the benefit of, and 5UPPOrted by the community, and which contributes to the economic 8nd Social regeneration of the area. A¢hievements and perfornian¢è The vision, mission and objectives that shape our organisation in Ils annual activities ale focused Dn the provision of facilities for the eduoalion. cultural and recreational needs ol the public as stated above. In shaping our aclivities lor this corning year the Trustees have considered the Charity Commission's guidance on public benefit and lee charging. Llanhilleth Miners Institute relies on income from classes and publiclprivate usagè as well as social activities with the level of fees and charges sel to cover the opeialing costs, logeher with the maintenance of 8 contingency reserve. Public benèfit Is demonstrated by every activity thai lakes plaTr in line wrth our mi55ion slatement and objectives. We give careful consideration to any organisalion wishing lo use the lacililie5. therefore charities and local organisations are given concèssionary rates. We also consider people on low incomes when planning acliwties and service provision. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should underiake. The following topics provide a summary of activities which outlines the performance for 2023124. but which also sets the scene lor our plans for this coming finanaal year. Funding and Ineorne Generation During 2023124 the following grants were recalved". Awards for All once again eonlributed £10.000 to the 'Kids Holiday Activities. lor 2023 and 2024. The WCVA provided £27,736 as part of a 2-year Volunteering proied. BGC8C Household Support Fund provided £1,933 towards the capital cost of Food Hub equipment. WG Loneliness and Isolation Fund provided £1.250 for Lunch Club entertainment. BGCBC Warm Hub Initiative and BGCBC Fotsd Distribution Initiative again provided £5,000 and £1,000 respectively lo provide free food to local people at breakfast time and in the afternoons in a wam, safe space. BGCBC Summer ol Fun funding of £1,000 allowed us lo provide additional holiday activitiès lor ltsc children.
LLANHILLETH MINERS INSTITUTE LIMITED TRUSTEES. REPORT {CONTINUED}{INCLUDING DIRECTORS, REPORT} FOR THE YEAR ENDED 31 JANUARY 2024 WEFO RDP funding of £70,0451£108,142 in lolall via the Blaenau Gwenl and Caeiphilly LAG Cwm y Mynydd project allowed us to proceed with a second pilot project 'Hive Connect, testing and building upon the lesson5 learned from the UK CRF pilot project. Abertillery and Llanhillelh Cotntnunily Council piovided £955 for Children's activities. Awards for All funding of £10,000 allowed us to continue with a Slow Cooker Club. Communities Four)dalion Vlales in Conjunction with Piincipality provided £10,000 lor a Cooking on a Budg2t pilot project. £2.809 wa5 awarded in recognition of the Institute ¢oNtribulion duiing the floods of 2020. CADW contnbuted £4,950 for remedial work lo the Institute infraslrucluie. K Shared ProspÈirfLy Fund People & Skills provided £109,505 for a continuation of the 'Hive' pioiect. UK Shared Prosperity Fund Multiply provided £28,162 lor an adult numeiacy piole. UK Share Prosperity Fund Communitie5 & Place provided £640 to subsidise local activitie5. The National Lottery Brighter Futures provided £60.300 as part of a three year project to support our Chvb Llan Child Development programTlle. Tai Calon and Blaenau Gwenl Food Partnership provided £7.500 to allow us to pilot a 'Cook Fresh, progr3mme. 8GCBC lunding of £2,000 allowed us to put in placè a pro9r8mm8 to combat holiday hunger. During the year, contribLrtions to general Core costs were received from.. Tudor Tru51 £30,000 for specific overheads Henry Smith Foundation £25,000 foi gene[81 ov8rhead5 The Board Is most grateful to our generous sponsors whose funding has not iusl carried us forward in difficult lirnes bul has allowed Qui Community Engagement activities to expand and flourish. Existing Programmes Educational Programmes The Institute recognises the importance ol education aT7d Ille learning Skills as key priorities and continued to develop partnerships with relevant organisations, such as GAVO and Adult Learning Wales lo respond lo the needs of our community We have a growing need for parenting, healthy eating and readability classes throughout Blaenau Gwenl". accordingly, we are providing, with the assistance ol these organisalions, many opportunities for individuals and families in nèèd ol support. Our Volunleers Volunteèrg play a major part in the success of activities and events within the Inslrtute. We have a volunteer strategy which encotnpasses the training and developrnent of the individual. with regulai reviews and trainin9 opportunilies being highlighted. In normal limes. we have around 35 active volunteers, and others who support from time lo time. Vdunleers range from members of the Board Idealing with governance. strategic and busine55 ISsue51, Luncheon Club support, and helping out with the general day lo day functions of the Instilule. such as Special Events, Weddings and Family Events as well as a range of community activities. We have also introduced a form81 Volurteering piogramme as part of our WCVA and 'Hive' projects. Child and Youth Developrnent Centrn- Clwb Llan Funded originally by Ghildren In Neeij bul now by The Nalional Lottery Brighler Futures, the project was designed lo rnake a differen¢e lo the lives of young people in the following ways.. Enhanced Sell Belief Less Socially 1501aled Greater Aspiration
LLANHILLETH MINERS INSTITUTE LIMITED TRUSTEES. REPORT (CONTINUEDIIINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUAR Y 2024 In the last 12 rnonths. we have had the following progress against TNL outcomes". Local children aged 0-16 and their fatnilies will have Improved health and wellbeing.. 268 Local children aged 6-16 years will have better eduoalional engagernent and prospects through accèssing extra-curricular homework and learning support provisions.. 92 Localty deprived thildren aged O-16 will have better lrfe chances, as more paients develop confidence and skills in their parenting.. 213 children. 142 parents LoGal children aged >16 years will have heatthier diets through leaning how lo cook health meals from scratch.. 109 Kids Summer Activitles The fvnding received enabled Clwb Ll3n. our Children'5 Club, to run a e-week summer activities programme covering drama, sport. science, art and craft, cookery, cinema nights with some activitie5 involving paren15 and children. Holiday Activities We have continued to organise a programme of school holiday activrties for local chil(Sren including film clubs, r8ft Clubs, street games, half term parties and we continue to offer free food to children al bregkfast and lunch times Food Distribution Contr• During the pandemic we set up a 'Food Pantry., d15tributing free food to individuals and families locally. We continued throughout the cuirent financial year lo supply weekly 50 adults and 65 children with top-up food suppliès in Conjunction with Fareshare Cymru. We have now piloted and implemented a new progr8mme 'Cook Fresh. where we piovide 50 families and individuals a week wrth a healthy tneal foi 4-5 people Complete with cooking Instructions for 8 contribution of £3. 'The Hlve, Project We were awarded funding by UK Government Community Renewal Fund lo bring together lortnerfy tested projects into a new pilot project. The main elements of this project were ihÈ CommLJnity Food Hub, Readability (Adult Literacy) and Volunteering. The concept was that thèse projects and, Indeed, our Clwb Llan project, should not be viewed in isolation bul that Participants Could be cr0$5-referred between one part of the piogramme and another. Thus, for example someone who was a volunteer could be referred into our Readability piogiatnme and vice vers8. For individuals who engage in 'tailored sessions,, we carefully and confidentially record individuals. progress throughout the process by means of Individual Development Plans. Although the programme of our focus and the funding targeted unernployed and economically inactive people. we did not exclude anyone from support who reqLJiied it who fell outside those parameters. The lundèr was aware of this. We refer to the additional participants below as 'non eligible.. The project also aimed lo improve loolfall and visitor nurnbe15 to the In5titLJle. which we did sucSsfUlly. In the 'Hive' project, referrals in were tllade from partner5 including Prime Cymru. Communrties for Work. Job Centre Plus and Remploy. Refeirals out were made to BGCBC Adult Social Services. School of Haid Knocks. Prime Cymru. Adutt Community Learnin9. BGGBG Library Service. The Hive piojecl was ori9inally due to run until the end of September 2022 but, due to thè success of the programme, funding w8s eKtend8d until the end of October 2022. 'Hive Connect, Project This project was set up to expand the 'Hive' project and test and benefit frotn the les50n5 leamed. This project. which was funded by WEFO RDP Cwm y Mynydd via Bla9nau Gwenl and Caerphilly Local Action Group, ran from November 2022 and continued until May 2023.
LLANHILLETH MINERS INSTITUTE LIMITED TRUSTEES. REPORT (CONTINUED}{INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2024 By the end of the S-monlh piojecl. 151 participants engaged 23 in Iileracy, 26 in volunteeiing, 120 in our Food Cookery programme. Of the participants, 62°h were out of work adults (aged 16-651, 19.1) had no qualifications. 20,/0 were disabled and 81.10 were women. All reported increased confiderice and well-being. and 21°k reported Increased employability. 'Hive Exten$ion' Project- UK Shared Prosperity Fund IUKSPFI Pèoplè & Skills has funded the 'Hive' project since June 2023. Total participants engaged between June 2023 and January 2024 201. of which 127 were socially excluded. All of our food projeds ale about learning how to cook from scratch with fresh. healthy and lower cost ingredients. 'Cook Fresh, as explained above- 48 participants. 'Slow Cooker Club, 68 participants - prowded with a Slow Cooker 8nd laughl how lo use it. Provided with ingredients and cooking Instructions for a family meal for 4-6 people each week for 6 weeks. 'Family Cookèry, 27 adults participating. 40 children. We know that when we teach families lo ccx)k, they stay cookin9 together. 'Fill your Freezer'_ adult cooking- batch cooking - 29 participant5. Readability- adull literacy- 35 participants. Volunteeiin9- 28 active volunteer5. UKSPF Multiply This project commenced on a pilot basis in Novernber 2023. Entitled 'Numbercrunoh'. il uses Cooking lo develop participants functional numeracy. Participants lo end January 2024- 19, 811 referied from partner organisations. The UKSPF projects are ongoing- due to be cornpletod by ènd of March 2025. Internal Partner5 Aneurin Bevan Complex Care staff for Blaenau Gwent and the neighbovnng counties, are now housed within the fortner doclor's surgery suite of offices and run a 2417 care operation from there. Head4Arts are also based al the Institute providing community services and access to development and employment opportunitie5. Gwenl Police are also prominent and provide us with advice and guidance. Communlty Partners The li51 below is non-exhaustive but setve5 lo show how important Llanhilleth Institute has become, as a louchstone between the wide varièty of organisalions that nèèd to engage with people Iparticularly in relation to tackling various issue5 of Social deprivation) and the local people that in turn. depend on accessing SLJch support. It is algo kèy to providing thègè organigationÈ with vital opportunitigg for gharing Information, cornmunicating community events and partneishiplcollaboiativè working. Example5 01 some of our partner oiganisations and affiliates include the following". Abertillery and Llanhilleth Community Councils,. Adult Learning Wales, Age Cymru,. Alun Davies AM, Aneurin Bevan Health Board, A8 Leisure Trust, AB Leisure Sports Development., Blaenau Gwenl County Borough Gouncil." BG Gounty Councilor5. BG Domestic Abuse (Phoenix Projecll." BG Housin9," BG SDci31 Services (children and vulnerable adullsl." BG Community Hub, SG Food Partnership". BG Library Service." BGftvl", Breaking arriers,. 8ridges Into Work, Business In Focus,. C4VI', CADW,. Caerphilly County Borough Council." Careers Wales". Citizens Advice Bureau., Coalfields Re9eneralion Trust,. Community Connectors.. DBS.. Disorelionary Adce Fund, DWP Supporting People Network. Eco-Exploie Developmer)I,' Fareshare Cymru., Footie Families Ichildien's provision), Garnè On". GAVO". Growing Spaces,. Gwent Drug 2nd Alcohol Service..
LLANHILLETH MINERS INSTITUTE LIMITED TRUSTEES, REPORT (CONTINUEDI(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUAR Y 2024 Gwenl Partnership Board," Families First," Flying Start". Ffin Dance.. Halal Irnenlal heahhl,. Head 4 Arts., Heritage Societyb,. Heritage and Tourism Vjales., Hospice of the Valleys., Illegal Money Lending Unit., Job Centie Plus," Local emergencyladvisory services such as Gwent Police, South Wales Fire and Rescue, South Wales Arnbulance Service., AY Cadet5', Sl John Arnbulance.. Llanhillelh Tenants and Residents Association, Menler laith.. Melin Homes." Mind,. NCT (Bumps and Babies)." Nick Smith MP,. Off the Streets. POBL.. PLJblic Health Wales., School 01 Hard Knocks," Shelter Cymru, Sight Cymru, Six BÈ115 Craft Club People5 Heahh Trust., St.IIYLyds Primary School,. Soffryd Primary School, TAFE,. Tai Calon Community Housing,. Trussell Trust IBG Food Bank), United Welsh Social Housing." University of South Wales, Valleys Task Force,. Vision 21.. Volunteering Matters., Volunleering Wales,. WCVA., We15h Govemment., Vvales Co-operative Centre., Young Carers, Zion Miners Chapel Community Events Various community events are held annually lo help lo build and provide social cohesion within Ihe local communrty. Examples of these events include.. the annual Remembrance Service. Halloween Fancy Drèss Pdrty, Christmas Fayrè. Macmillan Coffeè Mornings, the Surnmer Activity Prograrnme for children, and the Christmas Pantomime. On90ing a¢tiviliets include. Community Hub As part of their piogramtne to rnove activilies and advice closer to local people, Blaenau Gwenl County Borough Council have sel up a Communty Hub in the Institute where they are available to meet local residents on one day pei week. Monthly Lunch Club Lunch Club proves lo be very popular and consistently attracts around 80 people each month. The Lunch Club continues lo host a pop-up charity shop for the 'Hospice of the Valley5, on a monthly basis. generating Income of approximately £1,500 per annum. ommunity Groups at the Institute The weekly Knit and Natter group became constiluled in January 2018 and goes from strength lo strength. They have continued 10 5UPPOrt nalional and local charities by creating, selling and donating knitted iterns. including poppies, the incorne from which Is donated to the British Legion. The group now ha5 a monthly lable at Luncheon Club and have joined us at communily events such as St Illlyds Chnslmas Fair to iaise funds. Other groups al the Inslrtute continue lo flourish e.g. Heritage Society, Tea Dance. Fitness Classes, Craft Club. Other activities included CAB, Job Club, C4W. Baby Clini¢ and Burnps and Babies.. Abertillery 3-16 Engage Project The Instilule provided space during the day in term lime and is worn9 in conjunction with Abertillery 3-16 Engage Project whi¢h caters for pupils referred out ol the main stream activities. We try to afford the pupils Ihe opportunity to volunteer and engage with us in a variety of activities, InclLJding our hospitality work. The youths have also participated in our youth cookery 5e55ion5. The venue 5eetTTrS lo work well for the teachers and pupils, with pupils demonslraling genuine and tangible progre55. Reading Area A reading area has been set up and a small library provision established. Major Functlons In 2023-2024, we held five'Cer?mony with Reception. weddings. There were 15 prNate functions in the period. Ctsronavirus and thè Impaet on thè Institutè. The normal hospitality Inslilule trading and the resultant income 5tream5 which ceased in March 2020 have been slow to recover. Increasing effort5 are being made on the Marketing side logether with great emphas1s on Customer Service and providing a Iirst-class customer experience. We are enorrnously grateful lo all our funder5 both this year as well as in previous year5 and believe that current and anticipated funding will allow us lo survive a5 an organisation and continue the very important work we are engaged in.
LLANHILLETH MINERS INSTITUTE LIMITED TRUSTEES. REPORT ICONTINUED)(INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 JANUARY 2024 Financial VIeW The Institute. in normal times. relies on Income fmm classès and publiclprivate hiré, as well as social activities with the level of fees and charges set to cover the operating costs. plus consideration given lo reserves. Reserves Policy The Trustee5 have set a reserves policy which requires". Reserves are mainlgined al a level which ènsurèg that Llanhilleth Miners Institute Limited's core activity could continue during a period of unforeseen difficully. A proportion ol reserves are maintained in a readily realisable form. The calculation of the required level of reserves Is an integral part of the organisation's planning. budget and forest cycle. It takes inlo account Risks associated with each stream of income and expenditure bein9 different from that budgeled. Planned activity level. Organi531ion's COrnTnltrnents, The appropriate level of TeseNes is currently set al three Tnonlh5 expenditure. This equates to £60,000 at current average expenditure levels. We have plans Ihgt involve increasir)g our Sncome level. and these plans should allow us tc) maintain our reserve levels at the target level going foard. Loans We have benefited during ltte pandemic from having the reassurance of low interèst loans from WCVA repayable over 5 years- and a UK Governrnent 8ounoe Back Loan- repayable over 10 years. Business Developmènt The business is plarined lo develop in several ways and can be summarised as lollL¥WS'. right control of cost5 will ensure that profitability levels are maintainèd and combin8d with increased income, will allow reserves to be maintained at target levels. Expand on successes and diversify setvices, focusing on areas that have a proven track record and with potential lo grow. Work with classes and grtsups to ensuie that they are sell-sufficienl by way ol funding and income levels foi continued participation. Review and act on processes to minim15e r15k lo the organisalion. Maintain and improve service levels and increase training and developrnenl intemalty. Expand partnership working. Review pricing Cif rèntal agreements and other services and act on f1ndings. Continue to develop Directois and Trustees. Marketing Much work has been undertaken lo build and develop the brand that is Llanhilleth Miners Inslilule over the last years. when the shift to working digitally increased significantly due lo the pandemic. The Majority ol Marketing and promotion Is done digitally u51ng various social Fnedia platforms, our website and third-party plalforrns and websites le.g. Google My Business) but traditional fortns of marketing are still used for promotion. Social media plattorms continue to grow with follower5 With likes continuing to Increase and Increased numbers of positive reviews. Work is being undertaken lo further develop our brand, the webslte, Individual Giving and Corpor&le Sponsorship as a new means ol fundraising. Gr&al stride5 have been made in building our digital profile and we now have a firm foundation on which to further develop our slralegy and forward plan to grow brand 'Llanhillelh Minèrs Institutè,. Reserves At 31 January 2024 the charity had unrestricted reseryes of £18,196 12023". £39,784) and unspent restricted reserves of £84.892 12023. £74,484). The charily's free reserves were £18.196 al 31 January 2024. Total ieserve5 were £103.08812023. £114,268).
LLANHILLETH MINERS INSTITUTE LIMITED TRUSTEES, REPORT ICONTINUED)(INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 JANUAR Y 2024 Plans for Future Perlods We aim to build on our past successes and encourage new relationships with other organisatiOn5. We plan for Llanhilleth Miners Institutè to become increasingly prominent as the key Community Hub for the area, working with others in Cornmunrty Engagement in general as well as in specific project5. To support these ambitions, the Institute now works in aceoidance with the stiategy set o>ut wrthin its Business Plan and associaled Community Engagement Plan. Structure, go¥èrnan¢e and management Constitution Llanhilleth Miners Institutè is a charitable company limited by guarantee and è registered Ghaiily governed by ils itmernorandum and Articles ofAssocialion. Tom Vthyatt MBE is chair of the Board ol Direetois. The BD8rd sets the organis*ion's strategic and operational direGlion 8nd is responsible for the future development ol the Institute. Regular Board meetings are held. Due lo funding constraints, Ihe Institute was without a General Mana9er from 2012 unlil 2017 In the meantime, the Inslitule was sustained by the loyally and efforts ol 115 51aff and volunteers supported by some very generous and tirnely external funding. As stated above, longer term loans are held with WCVA and Barclays (Bouncè Back Loanl. FLtnding wa5 obtained in 2017 to appoint a General Manager, bul regrettably, due to funding c(Yslraints, we were unable ID maintain the position of General Manager beyond the end ol August 2019, and. since September 2019, thè rtslè has been fulfilled by members of the Board. Staff have promded the1 lull support. To fulfil the slrategic direction, the Board appointed a full time Community Engagetnenl Man3gei and a full time Operations Manager reporting directly lo the Board. These roles are supportèd by a fLJlI time Project Coordinator and a part lime Finance Officer. Governing document Llanhilleth Miners Institute is a Charitable Company, Lirniled by Guarantee, and the goveming documents were filed wilh Companies House on 18 January 2007, the dale of incorporation. Following advice from Wales Co operative Centre, the Instllule atnended the goveming documents on the 20 September 2012 al an Extrwrdinary General Meeting. The membership fee is a token payment of £1 per annum. New Board members shall be elected individuèlly at each Annu81 Gen8ial M8eting by all members present. Risk management The Directors and Trustees have g cotnpiehensive risk register which is regularly reviewed. It details the likelihood and impact of the risks that the organisation could face.. the establishment of plans to mttigale Ih05e li5ks, assessing the net impacl rating after mitigation actions and identifying any further actions required. This work has identified that financial sustainability is the major risk for the organisation. G(>od stratègic planning. good financial planning and management allied lo sound projecl rnanageertt and optimi5ation of both internal ievenue stream5 and exlernal funding are key mitigating factors. Focus is also placed on the non-financi31 risk arising from fire. he8llh and Safety ol employees and visitors as well as food safety and hygiene. IT Systems is also fell to be a key risk area and the management of this is Outsourced 10 3 professional provider.
LLANHILLETH MINERS INSTITUTE LIMITED TRUSTEES. REPORT ICONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUAR Y 2024 Reference and Administrative Information Registered numbers Cotnpany number." 06056945 Chaiity numbèr". 1128924 Directors & Trustees The directors of the charity are 115 trustee5, for the purpose ol charity law and throughout this report they are collectively referred to as Iruslees. Tom Vthyatt MBE Julian Bosley Rosemary Cribb - iesigned 31 JLJIY 2023 Laura Doel Philip Fiander Keiry Carter Jade Mor93n Wayne Lewis Mark Etchells Principal address and regist&r&d office Llanhilleth Inslrtute Abertillery Blaenau Gwenl NP132JT Independent gxaminer Andrew Howells Azets Audit Services Ty Detw Lime Tree Court Caidiff Gate Business Paik Cardiff CF23 8AB SolleStors Gartsides Rother House 11 Neville Street Abergavenny Monmoulhshire NP7 SAA Bankers Unity Trust Bank plc Nine Brindleyplace Birmingham B1 2HB Business reviewers Wales Co-operative Centre GAVO Ectsnomic Development The trustees, report was approved by the Board ol Trustees.
LLANHILLETH MINERS INSTITUTE LIMITED TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2024 Twhyatt MBE. TTusts• Trustoe D3led'.
LLANHILLETH MINERS INSTITUTE LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 JANUAR Y 2024 The Iruslees, who 3re 31so the diieclDrs of Llanhillelh Mineis Institute Limited for Ihe purpose ol company law, are responsible foi preparing the Trustees. Report and the financial statements In accordance wrth applicable law and United Kingdom Accounting Standard5 (United Kingdom Gener8lly Accepted Accounting Practieel. Company Law requires the trustees to prepare financial staternents for each financial year which give a true and fair view of the slate ol affairs of the charity and of the incoming resources and application ol reSours, including the InGome and expenditure. of the Gharilable company for that year. In pieparing these financial slalemenls, the trustee5 are required to-. select suilable accounting policies and then apply them consistently.. observe the methods and principles in the Chanlies SORP.. rnake judgements and estimates that are reasonable 3nd prudent, and prepare the finanGial slalemenls on the going wrTrcern basis unless it 15 inappiopiiale to presume that the charity will continue in operation. The trustees are iesponsible for keeping adeqLJate accounting records that disclose with reasonable accuracy al any time the financial position ol the oharily and enable them to ensure that the finanEial statements corTrply with the Companies Act 2006. They are also responsible for safeguarding the a55e15 Df the charity and hence for taking reasonable sleps for the prevention and detection of fraud and other Irregularities. The trustees are responsible for the wainlenance and integrity ol the Chanty and financial information included on the charity's website. Legislation in the Unilecl Kingdom governing the pieparation and dissemination of financi31 statements may differ from legislalitsn in other jurisdictions. 10-
LLANHILLETH MINERS INSTITUTE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LLANHILLETH MINERS INSTITUTE LIMITED I report to the Iruslees on my examinalion of the finanaal slalements of Llanhilleth Miners Instrtule Limited (the charrtyl for the year ended 31 January 2024. Responsibilities and basis of report A5 the Iruslees of the chairty land also its directors for the purposes of CDmpany lawl you are responsible for the preparation of the fin8r)cial slalernents in accordance with the requirements ol the Companies Act 2006 Itha 2006 Actl. Havin9 satisfied mysew that the financial st3tèTnenls of the chanty are not required to be audrted under Part 16 of the 2006 Acl and are eligible for Independent examinalion, I report in respect of my examination of the charity'5 financial slalement5 carried out under Section 145 01 the Charilies Act 2011 (the 2011 Acll. In carrying out rny exarninalion I h2ve followed all the applicable Directions givan by thè Charity Gomrnission undei section 14515llbl of thè 2011 Act. Independent examinerfs statement Since the charity's gross Incorne exceeded £250,000 your examin8r musl bè a mernber of a body listed in section 145 of the 2011 Act. I confirrr that l am qualified to undertake the èxaminatitsn because l am a m8mber of Institute of Charteied Accounlanls in England and Wales, which is one of the listed bodies. I have completed rry examination. I confirm that no matters have come to my attention in Connection with the examination giving me cause to believe that In any material respect.. accounting records were not kept in respect ol the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records", or the financial slalements do not comply with the accounting requirement5 01 section 396 of the 2006 Act other than any requirement Ihal the accounts give a true and fair view which is not a matter considered as part of an indèpéndent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recorntllended Praclice for accounting and reporting by charities applicable to chaiities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rapublic tsf Iiéland IFRS 1021. I have no concerns and have come acioss no other matters in oonneclion with the examination to which attention should be drawn in this report in ordei to ènable a proper understanding of the finanGial slaternents to be reached. Andrew Howells Azels Audit Services Ty Derw. Lime Tree Court Cardiff Gale Business Park Cardiff CF23 8AB United ngdoM Dated".
LLANHILLETH MINERS INSTITUTE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUAR Y 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Donations and legacies Charitable activities Other charitable 272 272 409.155 1.099 7.750 1.099 342.926 409.155 335,176 156,264 71 156,264 71 188,105 674 188.105 674 Other incorre Totsl intom• 156,607 409.155 565.782 197.628 335,176 532,804 en Charitable activities 178,195 398,747 576,942 256,405 316,234 572.639 Net lexpendi¢urellin¢ome for the yearl Net movement in funds 121,5881 10,408 158.7771 18,942 139,8351 Fund balances al 1 February 2023 39,784 74,484 114.268 98.561 55,542 154,103 Fund balancès at 31 January 2024 18,198 84,892 103,088 39,784 74,484 114,268 The slatetnent of financial activities includes all gains and losses recognised in the yeai. All income and expenditure derive from continuing activities. The slalernenl of financial acliv(Lies also cotnplie5 Vlith the requirements for an income and expenditure account under the Companies Act 2006. 12-
LLANHILLETH MINERS INSTITUTE LIMITED BALANCE SHEET AS AT31 JANUARY 2024 2024 2023 Curr•nt as#•ts 12 13 2,128 91,322 73.177 2.5S8 45.561 142,6 DebtOT5 Cash at bank and in hand 186.627 190.784 Crndltors: amourrt¥ falllnq du• wmhln ono year 14 122.5341 126,8411 Net ujrrant Bssets 144,093 163,923 Cr•dltorn: amounts lawlng due after more than onè year 15 141,0051 149,&551 Net assets 103,088 114,26B IAeom• funds Restricted funé5 Unr•8trlc*ed funds 18 84.892 18,196 74.484 39,784 103,088 114,268 Thg ¢ornpany18 gnlltted to tha examption from the e¢Jdit wuir8rn8nt (xjntalned In Sectlon 477 of the Cornpanlès Act 2006, for the year end8d 31 January 2024. The dlrector acknowledges hls résponsiblitles for Compl ¥th the requiremenls ol th& CL>mpani88 Act 2006 th resped to aecounting rowrd6 and the preparatlon of ffinanclal sta18ment8. These Btstements hgve beern prvp4r8d in oc¢xrd8n¢o wlth the pslon$ apF4icab18 to comnI05 6u¥gCt 10 the 6mall eompanles regime. The atrx)unts werè oPPmV8d by the TnteeS on .. .... T Whyatt MGE TN•ts• Company R•o15tratlon No. 0605694S 13-
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUAR Y 2024 Accounting policies Charity inforniation Llar)hillelh Mineis Institute Limited is a COTnpany limited by guarantee whose registered office is Llanhilleth Inslitute, Llanhillelh, Abertillery. Gwent. NP13 2JT. The guarantors are the trustees as sel out on page 8, The liability is limited lo an amount of £1 per member in aecordance with the company'"s Memorandum ol Assoeiation. 1.1 Accounting convention The financial statemenls have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. SlalerNenl of Recommended PraGtice applicable to chaiitiès preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iieland IFRS 1021 leffeclive 1 January 20191 The charity Is a Public Benefit Entity as defined by FRS 102. The ¢h3rity has lakÈn advanl8ge of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement ol Cash Flow5. Thè financial statements are prepared in slerling, which is the fundional currency of the charity. Monetary arnounts in these financial statements are rounded to the nearest £. The financial st31ements have been prepared under the historical cost convention. The principal accounting policies adopted are Sel out below. 1.2 Going eoncem At the time of approving the financial statements, the Iiuslees have a reasonable expeclation that the charity has adequate resources to continue ir) operational existence for the foreseeable future. Thus the trustees onlinve to adopt the going concern basis of accounting in preparing the financial statèments. 1.3 Charitablè funds Unrestricted funds are available for vse at the discietion of the trustees in furtherance ol their charitable objectives. Restricted lunds are subject 10 5pecifi¢ conditions by donois as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the IinanGial statement5. 1.4 Income Incotlle is iecogn15E¢J when the ¢harity is legally entitled to rt after any performan¢e conditions have been met, the arnounts can be measured reliably, and it is probable that Income will be received. Cash doinalions are recognised on receipt. Other donations are recognised once the ¢harrty has been notified of the donation, unless performance Gondilions require deferr81 ol the amount. Income tax recoverable in relation tts donations received under Gift Aid or deeds of covenant is recognised al the lirne ol the donation. 14-
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policies IContinu•dl Bar. café and catering sales are recognised on receipt. Income from grants is induded in incoming resource5 when these are receivable, except as follows.. When donois specify that grants musl be used in future accountin9 periods, the income is deferred until those periods. When donors impose conditions whiGh have been fLJlfilled before the charity becomes enlilled to use such incorne, the income is deferred and not Included in incoming resources until the pre- conditions for use have been met. Tumover is measured at the fair value of the consideration received or receivable and represents amounts ceivable lor goods and Services provided in the normal tourse of business, net of discounts, VAT and other sales related taxes. Lease income is rectsgnised when the charity becomes legally entitled to the income. Incorne from weddings is rècognised in the period to which it relates to, with incomè being deferred in to the next financial year as necé5s3ry 1.5 Expendlture Expenditure is reo)gnised once there is a legal or constructive obligation to make a payrnent to a thiid party, it is piobable thal settlement will be required and the arnounl ol the obligation can be measured reliably. Expenditure on charitable actiwties includes all costs ielating to the furtheran of the charitls objèdives as stated in the Iruslees report and their associated support wsls. Governance costs comprise all costs Involving public accountability of the chaiity and ils compliance with regulation and good practice. There has been no offsètting of asset$ and liabilities, or income and expenses. 1.6 Tangible fixed assets Tangible fixed asse15 are initially measured al cost and subseqLJently measured al cost or valuation. nel of depreciation 8nd any impairment losses. Depreciation is iecogni5ed so as lo write off the cost or valuation ol assets lèss their residual values over their useftjl lives on the lollowing bases". Plant and equipment 20Q/o and 33.10 Straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds nd the carrying value of the asset, and is r&cognised in the statement tsf Iinanoial activities. 1.7 Stocks Stocks are stated at the ltswei of cost and eslirnaled selling price less costs to COTnplele and Sell. Cost comprises direct materials and. where applicable, direct labour costs and Ihose overheads that have been inCUrd in biinging the stocks lo their present location and condition. Items held for distribulion at no or nominal consideration are rneasured the lower ol replacement cost and cosl. Nel realisable value is the e51imaled Selling piice less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 15-
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policies Continued) 1.8 Cash and cash eqvivalents Cash and cash equivalents include c35h in hand. deposits held at call with banks, other 5hort-lerm IIqLJid investment5 with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings In current Iiabililies. 1.9 Financial in5trurnèrtts The charity has elected to apply the provisions ol Seclior) 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, ol FRS 102 to all of Its financi81 in51iuments. Financial Instrumen15 are recognised in the charity's balance sheet when the charrty becomes party lo the contractual provisions of the insliurnenl. Financial assets and liabilities are offset, with the net amounts presented in the financial slalements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis 01 lo realise the asset and sertle the liability sirnullaneously. B451¢ finaneial assets Basic financial assets, which include debtors and cash and bank b31anEes. are initially measured al transaction price including transaction costs and are subsequently carried 51 amortised cost Using the effective interest method unless the ariangetllent constitutes a financing Iransaclion, where the Iransa¢tion is measured at the present value of the future receipts discounted al a market rale of interest. Financi31 assets classified as receivable within one year are not amort15ed. Dèrècognition of financial assets Financial assets are derecognised only when Ihe contr8dual rights to the cash fiows from the asset expire or re settled or when the charity transfers the financial asset and subslanli8lly all the rssks and rewards ol ownership to another enlily. or if sotne significant risks and rewards ol owr)er5hip are retained bul control ol the asset has tiansferred lo another party that Is able to sell the assel in Its entirety to an unrelated third party. Basie financial liabilities Basic financial liabilities, including ¢redilor5 and bank loans are initially recognised at Iiansaclion price unless the ariangement constitutes a financing Iiansadion, where the debt inslrument is measured at the pSent valuè of the future payments discounted at a market rate of inleresl. Financial liabilrties classified as payable within one year are not amortised Debt instrumen15 ale subsequently carried at amortisèd cost, using the effective interest rale method. Trade creditors are obligations to pay for goods Qr services that have been acquired In the ordinary course ol operations frotn supplieis. Atnounts payable are classified as currenl liabilities if payrnent is due within one year or less. If not, they ale presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently rneasured al amortlsed cost using the effective interest method. Derèeognition of financial liabilities Financial Iiabililies are derecognised when the charity's contiaetual obligations expire or are discharged or eancelled. 1.10 Taxation As a registered charity, Llanhilleth Miners Institute Limited is entitled to the ex&mption fr(>m taxation in respect ol incorne 2nd capitzl gains received with sections 478489 OY the Corporation Tax Act 2010 and section 256 ol the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo Its charitable objects purposes only. 16-
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policies IConUnuedl 1.11 Employè• bèn•fits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Teimination benefits are rectsgnised immediately as an expense when thé charity is demonstrably committed to lerrninate the employment of an ernployee or to provide termination benefrts. 1.12 Retirement benefits Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.13 Company ststus The charity is a company limrted by guarantee. The members of the company are the Board of Managémènt named on page 7. In the event ol the chaiity being wound up, the liability in respect ol the guarantee is limrted to £1 per member of the chaiity. Critical accounting estimates and judgements In the application ()f the chaiity's accounting policies, the trustees are iequiied to make jLJdgemenls, eslimales and assumptions about the carrying amount of assets and liabilities that are not rÈadily apparent from other sources. The eslim3tes 3nd associated aSSLJmptions aré basèd on historical experience and olhei factors that are considered to be relevar*t. Actual results rnay difl8r from thes8 eStim8t8S. The eslirnates and undedying assumptions are reviewed on an ongoing basis. Revisions lo accounting èstimates arè recognisèd In thè period in which the estimatè is rèvisèd whÈrè the revision affects (lY that penod. 01 In the period of the revi5i0n and fLJlure peiiods where the re$lOn affects both current and future period5. Donations and legacies Unrestrlctod Unrestricted lunds funds 2024 2023 Donations and gifts 272 1.099 17
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 JANUARY 2024 haritable activities 2024 2023 Grants 409,155 342,926 Analysis by fund Unrestricted funds Restrioled tund5 7,750 335,176 409,155 Grants Tudor Trust B8C Children in Need Community Council ol Abertillery & Llahillelh Clwb Llan WCVA. Volunteering WCVA- Comic Rèlièf Welsh Government Economic Resilience Fund UK Cornmunily Renewal Fund via BGCBC BGCBC- Warm Hub Grant BGCBC_ Food Dislribulian WG Food Poverty Grant- Food Hub CIDlhworkers Foundation - Kitchen Refurbishment A8UH8 Food Access Inilialives BGCBC Household Support Fund Tai Calon - Donation for SurnmerActiwties Tai Calon - Sensory sèssions WEFO RDP Hive Piojecl The Natitsnal Lottery Awards for All- Children's Activities Western Power- Holiday Hunger Asda Foundalion- Slow Cooker Pilot Garfield Weston Foundalic)n BGCBC Summer of Fun Loneliness & Social Isolation Fund Llanhilleth Flood Relief Donations CADW- Infrastructure projects UKSPF People & Skills via BGCBC UKSPF Mulliply via BGCBC UKSPF Communities & Place wa BGCBC The Natiorial Lottery Brighter Futures Henry Smith Foundation Tai Calon Meal Kit Piltst- Cook Fresh BGCBC Holiday Hunger The National Lottery Awards for All Childiens Activities Communities Foundation Wales and Principality Cooking Other 30,000 23,098 621 11,855 18,385 7.500 143,753 5,000 1.OQQ 29.725 9.195 4,090 1,067 20CI 2.100 38.097 10.000 2,500 1.455 30.000 1.600 1.535 955 27,736 6,000 1,933 70,045 10,000 1,250 2,809 4,950 109,505 28,182 640 60,300 25,000 7,500 2.000 10,000 10.000 350 409,155 342.926 18
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 Other charitsbl• activitiès Unr•strictsd Unreslricted funds funds 2024 2023 Luncheon clLJb Bar sales Cafe. catering and Christmas party Income Lease income Classes, roorn and equipment hiie Wedding income Funding conlribulions Ticket and raffle Income 3,922 41.758 42.474 19,000 18,349 16.153 11,049 3,559 4,307 33.071 35,929 19.000 17,894 32,849 41,664 3,391 Olher charitable aclivities 156.264 188,105 Othtr income Unrestricted Unrèstricted fund$ fund$ 2024 2023 Other income 71 674
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JANUAR Y 2024 Charitable aetlvltles 2024 2023 Staff costs Cafe 8 bar stock consumed and wedding era$ Consumables Artist lees and disco Direct project costs Rates Insurance Light and heal Cleaning, repair5 and maintenance Advertlsing. telephone, printing. postage and stationery IT support Hire of equipment Travel. transport and general expeDses Legal and professional Volunteer expenses Qlhei charitable expendituie 333,815 57,977 1,715 12.617 68,527 3.045 10.514 28,956 20,396 7.050 14.175 889 7,816 5.898 122 200 301.914 56.926 1.803 8.216 100,453 2.174 17.352 27,584 13,104 7,523 13,772 1,286 7,352 9.484 73 1,228 573.692 570,244 Share of governance coslg Isee notè 81 3.250 2.395 576.942 572.639 Analysis by fund Unrestricted funds Restricted funds 178.195 398.747 256,405 316,234 576,942 572,639 Support costs Support Goveman¢e costs costs 2024 2023 Independent examinalion lees 3,250 3,250 2.395 3,250 3.250 2,395 Analysed behveen Charilable aclivrties 3,250 3.250 2.395 20-
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 JANUARY 2024 Employees Number of employees The average monlhly number ol employees during the year was.. 2024 Number 2023 Number Full time ernployees Part-time employees 16 24 16 Employment costs 2024 2023 Wages and sa13ri85 Social security costs Other pension costs 309.333 17,293 7,189 293.906 4.801 3.207 333.815 301.914 Key management personnel The key tnanagement personnel of the d)arity received remuneration (Consisting of gross salary, ernployers national Insurance and employeis pension contributions) totalling £119.35812023 £114,7241. There were no employees whose annual remuneration was £60,000 or more. 10 Trustees No trugtee received remuneration during the current or previous year in their capacity as trustee No expenses h8ve been paid lo the trustee5 during the ¢urrenl or previous year. 21
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 11 Tangible fixed assets Plant 3nd equipment Cost At 1 February 2023 147,525 At 31 January 2024 147.525 Dèpr•ciation and impaimiènt Al 1 February 2023 147,525 Al 31 January 2024 147,525 Carrying amount At 31 January 2024 At 31 January 2023 12 Stocks 2024 2023 Finished goods and goods for resale 2,128 2,558 13 Debtors 2024 2023 Amounts falling due w4thin one year.. Trade debtors Other debtors 89,330 1.992 45,561 91,322 45,561 14 Creditors.. amounts falling due within one year 2024 2023 Notes Borrowings Other taxatiOf7 and soGial security Deterred inctsme Olher creditors Accruals and deferred income 8,649 8,649 1,480 6,430 5,839 4,443 16 6,418 2,374 5,093 22.534 26.841 -22-
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 15 Creditor5'. amounts falling due after more than one year 2024 2023 Borrowings 41,005 49,655 16 Oeferrod income 2024 2023 Other deferrèd income 6,418 6.430 6,418 6,430 Deferred income Is included in the financial slalemenls as follows.. 2024 2023 Balan broughl forward Income le]Ved Incowe released 6,430 29,928 129,9401 7,802 46,484 147.8561 Balance carried forward 6,418 6,430 Deferred inwme relates to wedding and other deposits received in advance ol the event taking place. 17 Retirement benefit schemes Defined contribution schgme3 The charity operates a defined contribution pension scheme foi all qualifying employees. The assets of the scheme are held separatety fitsm those ol the charity in an independently admin15tered fund. The charge to profit or loss in respect of defined contribution schemes was £7,18912023'. £3,207). There were no amounts outstanding at the current or prior year end. -23-
(D 00>0 Ln Lr> ro )nOOO ) Cll 00 wo0£} 0100 ow)00 oujoo 00 000 00 o Ln ta (4¢n Ln Tr- o) o OEO O ¢n (o Ln (w cry o o (ooots>othoo SO00¢DOO 40>0>0 01r)r 00 OOG 00 ¢ u(n c) z CO_ U tymicoo rt co.- L) Q) E Y U J L) LL U U w iij E Q> on (g 0 O W (S
oo<ts
ootr
o*
re00
¢D O
or
Joooooooo
00<0
OOOOOOfJ
ro o Ln o o o
LLANHILLETH MINERS INSTITUTE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 19 Analysis of net assets beeen funds Unrestricted Re3tri¢ted funds funds 2024 2024 Totsl Unrestricted Restrictsd funds funds 2023 2023 Total 2024 2023 Fund b8lances al 31 January 2024 are repr@senled by Currènt asselsllliabilitiesl Long tetm liabilities 59.201 141.0051 84,892 144,093 141,Q051 89,439 149.6551 74.484 163,923 149.6551 18,196 84,892 103.088 39.784 74,484 114,268 20 Related party transactlons During the year, no trustee5 were reirnbursed lor Iravelling expen5e512023." £1961. No tmstees invoiced the eharily for their services during the year12023.' £5,411) There were no amounts oulslanding at the current or prior year end. -29-