2024-12-31-accounts - Celynen Collieries Institute And Memorial Hall Limited (Company No. 07295916)

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COMPANY REGISTRATION NUMBER: 07295916 CHARITY REGISTRATION NUMBER: 1137112

Celynen Collieries Institute and Memorial Hall Limited Company Limited by Guarantee Unaudited Financial Statements

31 December 2024

WALTER HUNTER & CO LIMITED

Chartered accountants 24 Bridge Street Newport South Wales NP20 4SF

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2024

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the trustees	12
Statement of financial activities (including income and
expenditure account)	13
Statement of financial position	14
Notes to the financial statements	15
The following pages do not form part of the financial statements
Detailed statement of financial activities	26
Notes to the detailed statement of financial activities	27

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 December 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.

Introduction

2024 marked the beginning of an exciting new chapter for Newbridge Memo. Following the successful conclusion of the "Newbridge Memo: The Way Forward" project in 2023, the Memo entered the delivery phase of a new National Lottery Heritage Fund (NLHF) grant: "Newbridge Memo: Celebrating a Century of Heritage & Arts".

This two-year programme, awarded in late 2023, is designed to secure the Memo's resilience, deepen community ownership, and prepare for the Memo's Centenary in 2025.

The Memo continues to stand as a symbolic institution in the heart of Newbridge, a Grade II* listed heritage asset founded by miners and carried forward through community ownership. With its historic art deco cinema, ballroom, theatre and library, the Memo remains both a heritage landmark and a living cultural hub.

Celynen Collieries Institute & Memorial Hall Limited, which trades through its subsidiary company Newbridge Memo Ltd, stands as a symbolic institution in the heart of Newbridge, in the South Wales Valleys.

Established from the contributions of local miners, Newbridge Memo has deep historical roots across Southeast Wales. With the Institute being completed in 1908 and the Memorial Hall opening in 1925, the historic venue has served as a focal point for the community for over a century. It was a gathering point for miners, evolving into a vibrant cultural hub for local residents throughout the 20th century. In its essence, Newbridge Memo has been the embodiment of community cohesion and cultural celebration for almost one hundred years.

Today, it offers a rich tapestry of facilities including a library, an art deco cinema, a ballroom, and a small theatre. We are proud hosts to full-time tenants including Newbridge Library (Caerphilly County Borough Council Libraries), the Local Member of the Senedd (MS) Rhiannon Passmore's Constituency Office, and the CIC NoNaffArt collective.

Reference and administrative details

Celynen Collieries Institute and Memorial Hall Limited

Registered charity name Charity registration number 1137112 Company registration number 07295916 Principal office and registered High Street office Newbridge NP11 4FH

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

The trustees

L Baker G Cartwright (Appointed 14 June 2024) J N Clayton-Jones J L Day-Williams R E Drowley G Herbert (Appointed 15 January 2024) R E Mettyer S M N Saunders R S Smith (Resigned 1 July 2024)

Independent examiner

Mr Jonathan Rhodes BSc BFP FCA 24 Bridge Street Newport South Wales NP20 4SF

Structure, governance and management

The Celynen Collieries Institute and Memorial Hall (Newbridge Memo) is governed by its Memorandum and Articles of Association, which were incorporated on June 25, 2010. This document serves as the primary governing framework for the charity and outlines the organisation's structure, its management, and the role of its Trustees.

As a private company limited by guarantee without share capital, the charity does not distribute profits to shareholders but instead reinvests any surplus back into its activities.

The charity is registered with the Charity Commission for England and Wales, charity number 1137112, and its governance structure includes a Board of Trustees. These Trustees are responsible for overseeing the charity's strategic direction and ensuring compliance with its objectives, which focus on providing community services and preserving historical buildings of significance.

The methods adopted for the recruitment and appointment of new trustees

Trustees are appointed according to the constitution, with new members recruited based on skills required to govern effectively and ratified by the Coal Industry Social Welfare Organisation (CISWO) and National Union of Miners (NUM).

The Board underwent significant renewal between 2022 and 2024, bringing in new skills and expertise to address long-standing operational challenges.

The policies and procedures adopted for the induction and training of trustees

Trustees receive support, advice and training from Arts & Business Cymru and other consultants. Charity Commission guidance is also used as a useful resource.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

Structure, governance and management (continued)

The organisational structure of the charity and how decisions are made

The charity has a Board of trustees consisting of 8 members as at 31 December 2024. The Board meets regularly and is responsible for overseeing the strategic direction, governance, infrastructure and financial management of the Newbridge Memo.

A scheme of delegation is in place and the day-to-day responsibility for the development projects rests with the project team. The trustees are responsible for ensuring that the charity delivers the projects as agreed with funders, and that key performance indicators are met.

Relationships between the charity and related parties, including subsidiaries

The charity owns 100% of the shares of Newbridge Memo Limited, company number 7511516.

The profits of this company are gift aided to the charity at the end of the financial year.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

Structure, governance and management (continued)

The major risks to which the charity is exposed and reviews and systems to mitigate risks

The major risks to which the Celynen Collieries Institute and Memorial Hall (Newbridge Memo) is exposed are primarily related to financial sustainability, governance challenges, community engagement, and the socio-economic context of South Wales.

Key risks include:

1. Senior Staff Salaries:

One of the key operational risks for the Celynen Collieries Institute and Memorial Hall (Newbridge Memo) is ensuring the sustainability of senior staff salaries, particularly for essential roles such as the Venue Director. Senior staff are crucial to the daily operations, community engagement efforts, and long-term strategic development of the Memo. However, the ability to consistently fund these roles has been a challenge, exacerbated by the Memo's historical financial difficulties. Mitigation:

To address this risk, the Memo has applied for a three-year funding grant from the National Lottery Heritage Fund, specifically to cover senior staff salaries. The goal is to secure stable funding for key positions such as the Venue Director, which will provide operational continuity and allow the team to focus on driving the Memo's business model towards long-term sustainability.
Additionally, the Memo is refining its business model to reduce dependence on grant funding by increasing income from events, rentals, and community partnerships. This business model aims to ensure that, by the end of the three-year funding period, the Memo can maintain its staffing costs through internal revenue generation, thus mitigating the risk of salary shortfalls.

2. Financial Risk:

The Memo has historically struggled with financial sustainability, as evidenced by past deficits and the necessity for external funding. Financial risks include:

Over-reliance on grant funding, such as from the National Lottery Heritage Fund, which is not guaranteed in future years.
Operational costs exceeding revenue from community activities and events, especially when those activities were previously priced ineffectively and incurred losses.
Rising energy costs, which can disproportionately impact heritage buildings like the Memo that require significant maintenance and heating

Mitigation:

Improved financial controls have been introduced, including better pricing strategies and cost-cutting measures, such as streamlining contracts and more efficient resource use.
Increased efforts to diversify income streams, including new rental agreements with tenants and partnerships with local businesses.

3. Governance Risk:

Past challenges in governance, including an overstretched and aging Board, led to significant gaps in oversight. Without diverse and experienced Trustees, there was a disconnect between strategic planning and operational execution

Mitigation:

The governance structure has been improved through the renewal of the Board of Trustees, ensuring a broader mix of skills. A focus on continuous governance review will help mitigate future risks.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

Structure, governance and management (continued)

4. Community Engagement Risk:

The Memo's relationship with the local community, particularly younger generations, had deteriorated over time, posing a risk to its relevance and long-term sustainability. The Memo must remain central to the community's cultural and social life.

Mitigation:

Ongoing efforts to rebuild community relationships through tailored programming, partnerships with schools and local organisations, and expanding services that directly appeal to the community, such as youth arts activities and health initiatives.

5. Socio-economic Context of South Wales:

The broader socio-economic challenges in South Wales, such as economic deprivation and social inequality, pose a potential risk. The local economy's fragility affects disposable income for cultural and community events, impacting attendance and participation in Memo activities. Mitigation:

The Memo has aligned its programming with local needs, ensuring that it offers affordable, accessible events that appeal to a wide demographic. Its partnership with local government and community stakeholders also helps secure ongoing support for its cultural mission.

With these approaches, combined with ongoing monitoring and adaptation, The Trustees and staff hope to mitigate risks and ensure the Memo's long-term sustainability.

The charity remains committed to its strategic objectives as outlined in previous years. Each year, a designated committee comprised of Trustees and staff undertakes a formal review of the business plan to ensure it stays relevant and aligned with the charity's evolving needs. This annual review process helps to monitor progress against key targets and ensures that the charity remains on course to meet its long-term goals, adapting as necessary to the changing operational and community landscape.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

Objectives and activities

A summary of the Objects of the Charity as set out in its Governing Document

The charitable objectives include:

Providing an institute and memorial hall for the benefit of local inhabitants, particularly members of the mining community.
Promoting education through the preservation of historically or architecturally important buildings.
The charity is accountable to the Charity Commission and must provide regular financial and operational reports. No trustees receive remuneration for their roles.

Our vision is clear: to foster a thriving cultural community in the Valleys, honouring the legacy of the miners.

In pursuit of this vision, our mission is multifaceted:

Champion the preservation of our rich heritage while investing in future cultural prospects.
Erase barriers to engagement, fostering an inclusive environment.
Be a beacon for community and culture, ensuring everyone experiences the richness of arts and heritage.

Our goals are simple:

Community Ownership: Reinstating the sense of belonging, we aim to shape Newbridge Memo into a community-led establishment.
Cultural Engagement: Hosting events that instil local pride, foster curiosity, and strengthen cultural bonds.
Promoting Local Talent: Championing and nurturing Welsh talent at the grassroots level.
Skill Development: Offering opportunities focused on arts and heritage practices.
Heritage Conservation: Upholding the legacy of Newbridge Memo and inspiring future generations through the stories and histories of its past.
Sustainability & Effectiveness: Striving for long-term operational stability through diversified revenue streams, improved eco-footprint, and deep community engagement.

From its early days as a haven for miners, the Memo has seen various phases. The early 20th century was its golden era with movies, music, and dance. However, challenges arose post-closure of the collieries through time and neglect. A pivotal community meeting in 2003 led to its salvation, and the restoration journey began, culminating, through significant support from key stakeholders and the Community.

Unfortunately, through a lack of leadership and management, the rejuvenated Memo found itself once again in difficulty, culminating in a brush with bankruptcy in 2019. Nevertheless, despite the onset of a global pandemic and the subsequent cost of living/energy crisis, the Memo has undergone a transformative change through governance and management.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

Objectives and activities (continued)

Summary of the main activities

Overview of main activities:

1. Programming

Co-creation/collaboration
Community ownership
Cultural Connected Community
Local Talent
Celebrating and Platforming Local & Welsh Talent
Supporting Local Skills & Industry development

2. Community

Community Engagement
Cultural Connected Community
Community Ownership
Supporting Local Skills & Industry development
Placement Schemes
Celebrating and Platforming Local & Welsh Talent
o Supporting Local Skills & Industry development

3. Heritage

Legacy
Conserving and Celebrating Local Heritage
Cultural Connected Community
Learning
Conserving and Celebrating Local Heritage
Cultural Connected Community
Supporting Local Skills & Industry development

4. Sustainability

Environmental
Long-term Sustainability & Effectiveness
Conserving and Celebrating Local Heritage
Financial
Long-term Sustainability & Effectiveness
People
Long-term Sustainability & Effectiveness
Cultural Connected Community
Supporting Local Skills & Industry development

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

Objectives and activities (continued)

How are activities deliver public benefit

Newbridge Memo, as a cherished cornerstone of the South Wales Valleys, stands as a testament to community engagement, inclusivity, and shared heritage.

Serving as a hub for diverse activities, the Memo actively promotes public benefits by catering to individuals from all walks of life. From children participating in educational heritage tours to adults finding solace in our wellbeing and social activities, the Memo fosters an environment where every individual feels welcomed and valued.

Our partnerships with local artists, schools, and community groups further amplify this ethos, creating a platform where both young and old can connect, learn, and express themselves. By embracing and channelling the creative aspirations and cultural traditions of our community, Newbridge Memo not only celebrates its storied past but also crafts a vibrant and inclusive future for all its members.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

Achievements and performance

Summary of the main achievements of the charity

Key highlights from 2024 include:

Securing and initiating delivery of the NLHF Centenary grant, valued at £160,000.
Appointing a Community Engagement Manager and beginning the roll-out of engagement and volunteering initiatives.
Launching the Community Engagement Committee, ensuring stronger local representation in planning and delivery, with a shared place for the Chair of the committee on the main Board.
Early-stage creative programming with schools, artists and musicians, setting the stage for the 2025 Centenary.
Strengthened partnerships with local and regional cultural organisations, widening opportunities for young people and diverse communities.

These achievements build on the stability achieved in 2023 and signal growing resilience in both governance and operations.

Programme Development

The Memo introduced a variety of new programming in 2024, including youth activities, health and wellbeing events, and community arts. These programmes were designed to cater to a wider audience and improve community participation. The Memo focused on rebuilding connections with the local community, particularly targeting youth engagement through partnerships with local schools and arts organisations.

Fundraising

In 2024, the Memo secured grant funding from the National Lottery Heritage Fund, National Lottery Community Fund Awards for All, Garfield Weston Foundation, The Grocers' Charity and Theatres Charitable Trust, which supported its ongoing operations and helped implement key activities. Full details of this income is shown in note 5 to the financial statements.

Occupancy and Rentals

The Memo continued to house Newbridge Library and attracted additional tenants, such as NoNaffArt, an art collective, and the local Member of Senedd's constituency office, bringing in consistent rental income.

2024 was a transformative year for the Newbridge Memo. The successful completion of the Way Forward project, combined with improvements in governance, financial management, and community engagement, have put the Memo on a much stronger footing.

The Trustees are confident that the Memo is now well-positioned to face future challenges and to continue serving the community as a vibrant cultural and heritage hub. The focus for 2024 will be on building on this progress, with a focus on the building's centenary in 2025; expanding capacity and ensuring that the Memo remains sustainable for years to come.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

Financial review

Transactions and Financial position

The financial statements are set out on pages 13 to 24. These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

The Statement of Financial Activities shown on page 13 to the accounts discloses net deficit for the year of £112,024 (2023: deficit £105,293). The deficit is after charging depreciation of £115,522 (£120,519) in respect of the charity's property.

The total reserves at the year end stand at £4,625,763 (2023: £4,737,787). Free reserves of the charity at the year end are £59,434 (2023: £76,654).

Policy on reserves

The charity is committed to ensuring its financial sustainability. During 2025, the Board will be drafting a reserves policy and fundraising plan to ensure sustainability in the future.

At the year end the unrestricted reserves, or free reserves, of the charity were £59,434 (2023: £76,654).

The Trustees have assessed the charity’s ability to continue as a going concern. They have considered the current financial position, projected income and expenditure, the availability of funding, and the principal risks facing the charity. Based on this review, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Trustees continue to adopt the going concern basis of accounting in preparing the annual report and financial statements.

No funds of the charity, restricted or unrestricted, have been or are in deficit as at 31 December 2024.

Overview of Financial Health:

By the end of 2024, the Memo had significantly improved its financial health, with a positive surplus for the second time in several years, not taking into account the depreciation charge on the property. The Trustees are committed to maintaining this stability through careful financial oversight and strategic planning.

Income and Funding Sources:

Income was derived from rentals, events, grants, and donations. The Memo also secured significant funding through the National Lottery Heritage Fund and the which supported both operations and programming.

Expenditure Review:

Expenditure primarily covered operational costs, salaries, and building maintenance. Savings were achieved through better financial controls and reductions in unnecessary costs, such as ineffective contracts.

Risk Management:

The Trustees have identified key financial risks, such as the reliance on grant funding, and are actively working to diversify income streams through programming and community engagement.

Specific changes in fixed assets

All movements in fixed assets are shown in note 15 to the accounts.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2024

Plans for future periods

Looking ahead, 2025 will be a landmark year as the Memo celebrates its Centenary. Supported by the NLHF grant, a month-long programme of heritage, arts and community events is planned, including the Miners' March, Rock Heritage Festival, schools' takeovers, and a Gala evening.

The Trustees' priority for 2025 is to ensure the success of these celebrations while embedding long-term resilience, governance, and income diversification so that the Memo thrives well beyond its Centenary year.

In 2024, the Memo has built on the progress made in 2023 and 2024 by continuing to expand its community programming, increase rental income, and further strengthen its financial position. The Memo is also focused on deepening its relationship with the local community through a new Community Committee, which is providing a direct link between local stakeholders and the Board.

Key challenges include increasing capacity within the core team, particularly in marketing and community outreach, and ensuring that the Memo remains financially stable as it grows.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 29[th] September 2025, and signed on behalf of the board of trustees by:

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Oe
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J N Clayton-Jones Trustee

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Celynen Collieries Institute and Memorial Hall Limited

Year ended 31 December 2024

I report to the trustees on my examination of the financial statements of Celynen Collieries Institute and Memorial Hall Limited ('the charity') for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

J Rhodes

Mr Jonathan Rhodes BSc BFP FCA Independent Examiner

24 Bridge Street Newport South Wales NP20 4SF

29th September 2025

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 December 2024

			2024		2023
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Charitable activities	5	–	153,588	153,588	53,462
Other income	6	45,294	–	45,294	54,966
		`────────`	`─────────`	`─────────`	`─────────`
Total income		45,294	153,588	198,882	108,428
		`════════`	`═════════`	`═════════`	`═════════`
Expenditure
Expenditure on charitable activities	7,8	62,514	248,392	310,906	213,721
		`────────`	`─────────`	`─────────`	`─────────`
Total expenditure		62,514	248,392	310,906	213,721
		`════════`	`═════════`	`═════════`	`═════════`
		`────────`	`─────────`	`─────────`	`─────────`
Net expenditure and net movement	in
funds		(17,220)	(94,804)	(112,024)	(105,293)
		`════════`	`═════════`	`═════════`	`═════════`
Reconciliation of funds
Total funds brought forward		76,654	4,661,133	4,737,787	4,843,080
		`────────`	`────────────`	`────────────`	`────────────`
Total funds carried forward		59,434	4,566,329	4,625,763	4,737,787
		`════════`	`════════════`	`════════════`	`════════════`

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 15 to 24 form part of these financial statements.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Statement of Financial Position

31 December 2024

		2024	2023
	Note	£	£
Fixed assets
Tangible fixed assets	15	4,546,766	4,660,793
Current assets
Debtors	16	62,619	62,046
Cash at bank and in hand		22,486	25,646
		────────	────────
		85,105	87,692
Creditors: amounts falling due within one year	17	6,108	10,698
		────────	────────
Net current assets		78,997	76,994
		────────────	────────────
Total assets less current liabilities		4,625,763	4,737,787
		────────────	────────────
Net assets		4,625,763	4,737,787
		════════════	════════════
Funds of the charity
Restricted funds		4,566,329	4,661,133
Unrestricted funds		59,434	76,654
		────────────	────────────
Total charity funds	18	4,625,763 ════════════	4,737,787 ════════════

For the year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 29[th] September 2025, and are signed on behalf of the board by:

Oe J N Clayton-Jones Trustee

The notes on pages 15 to 24 form part of these financial statements.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is High Street, Newbridge, NP11 4FH.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

Consolidation

The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property

2% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2024

4. Limited by guarantee

The charity is incorporated under the Companies Act 2006 and is limited by guarantee, each member having to contribute such amounts not exceeding £1 as may be required in the event of the company being wound up whilst they are still a member or within one year thereafter.

Number of members as at 31 December 2024 is 8 (2023: 7).

5. Charitable activities

	Restricted	Total Funds	Restricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
National Lottery Heritage Fund	91,252	91,252	53,462	53,462
National Lottery Community Fund
Awards for All	5,935	5,935	–	–
Garfield Weston Foundation	50,000	50,000	–	–
The Grocers' Charity	3,442	3,442	–	–
Theatres Charitable Trust Fund	2,959	2,959	–	–
	`─────────`	`─────────`	`────────`	`────────`
	153,588	153,588	53,462	53,462
	`═════════`	`═════════`	`════════`	`════════`

6. Other income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2024	Funds	2023
	£	£	£	£
Rental income and room hire	45,294	45,294	54,966	54,966
	`════════`	`════════`	`════════`	`════════`

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2024

7. Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Maintenance of Institute & Hall	62,514	118,469	180,983
The Way Forward Project	–	–	–
Future Footsteps	–	1,925	1,925
Celebrating a Centenary of Heritage & Arts	–	113,046	113,046
Support costs	–	14,952	14,952
	`────────`	`─────────`	`─────────`
	62,514	248,392	310,906
	`════════`	`═════════`	`═════════`
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Maintenance of Institute & Hall	39,740	120,519	160,259
The Way Forward Project	–	2,267	2,267
Future Footsteps	–	–	–
Celebrating a Centenary of Heritage & Arts	–	51,195	51,195
Support costs	–	–	–
	`────────`	`─────────`	`─────────`
	39,740	173,981	213,721
	`════════`	`═════════`	`═════════`

8. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly	Support costs	2024	2023
	£	£	£	£
Maintenance of Institute & Hall	180,983	–	180,983	160,259
Tuesday Night Dance Club	–	3,442	3,442	–
The Way Forward Project	–	–	–	2,267
Future Footsteps	1,925	4,010	5,935	–
Celebrating a Centenary of Heritage &
Arts	113,046	7,500	120,546	51,195
	`─────────`	`────────`	`─────────`	`─────────`
	295,954	14,952	310,906	213,721
	`═════════`	`════════`	`═════════`	`═════════`

9. Analysis of support costs

	Garfield	Tuesday
	Weston	Night Dance	Future
	Foundation	Club	Footsteps	Total 2024	Total 2023
	£	£	£	£	£
Premises	7,500	3,442	4,010	14,952	–
	`═══════`	`═══════`	`═══════`	`════════`	`════`

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2024

10. Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

11. Net expenditure

Net expenditure is stated after charging/(crediting):

	Net expenditure is stated after charging/(crediting):
		2024	2023
		£	£
	Depreciation of tangible fixed assets	115,522	120,519
		`═════════`	`═════════`
12.	Independent examination fees
		2024	2023
		£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements	2,575 `═══════`	2,500 `═══════`

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2024	2023
	£	£
Wages and salaries (recharged by its subsidiary)	111,324 `═════════`	49,712 `════════`

The staff costs shown above represents expenses that have been recharged to the charity by its subsidiary company, Newbridge Memo Limited, company number 07511516, as these expenses are part of the 'Celebrating a Centenary of Heritage & Arts' project funded by the National Lottery Heritage Fund and The Garfield Weston Foundation, as well as other smaller projects.

The average head count of employees, employed directly, during the year was Nil (2023: Nil).

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

14. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees (2023: £nil).

No trustee expenses have been incurred (2023: £nil).

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2024

15. Tangible fixed assets

		Freehold
		property
		£
Cost
At 1 January 2024		5,814,957
Additions		1,495
		`────────────`
At 31 December 2024		5,816,452
		`════════════`
Depreciation
At 1 January 2024		1,154,164
Charge for the year		115,522
		`────────────`
At 31 December 2024		1,269,686
		`════════════`
Carrying amount
At 31 December 2024		4,546,766
		`════════════`
At 31 December 2023
		4,660,793
		`════════════`
Debtors
	2024	2023
	£	£
Trade debtors	48,055	31,795
Amounts owed by group undertakings	14,032	30,251
Other debtors	532	–
	`────────`	`────────`
	62,619	62,046
	`════════`	`════════`
Creditors: amounts falling due within one year
	2024	2023
	£	£
Accruals and deferred income	6,108	8,435
Social security and other taxes	–	2,263
	`───────`	`────────`
	6,108	10,698
	`═══════`	`════════`

16. Debtors

17. Creditors: amounts falling due within one year

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2024

18. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
				At
	At 1 January		31	December
	2024	Income	Expenditure	2024
	£	£	£	£
General funds	76,654	45,294	(62,514)	59,434
	`════════`	`════════`	`════════`	`════════`
	At			At
1 January 202			31	December
	3	Income	Expenditure	2023
	£	£	£	£
General funds	61,428	54,966	(39,740)	76,654
	`════════`	`════════`	`════════`	`════════`
Restricted funds
				At
	At 1 January		31	December
	2024	Income	Expenditure	2024
	£	£	£	£
Restoration of Institute & Memorial Hall	4,660,793	2,959	(118,469)	4,545,283
Memorial Gardens Fund	340	–	–	340
The Way Forward Project	–	–	–	–
Awards for All - Future Footsteps	–	5,935	(5,935)	–
The Grocers' Charity - Tuesday Night
Dance Club	–	3,442	(3,442)	–
Celebrating a Centenary of Heritage &
History	–	141,252	(120,546)	20,706
	`────────────`	`─────────`	`─────────`	`────────────`
	4,661,133	153,588	(248,392)	4,566,329
	`════════════`	`═════════`	`═════════`	`════════════`
				At
	At 1 January		31	December
	2023	Income	Expenditure	2023
	£	£	£	£
Restoration of Institute & Memorial Hall	4,781,312	–	(120,519)	4,660,793
Memorial Gardens Fund	340	–	–	340
The Way Forward Project	–	2,267	(2,267)	–
Awards for All - Future Footsteps	–	–	–	–
The Grocers' Charity - Tuesday Night
Dance Club	–	–	–	–
Celebrating a Centenary of Heritage &
History	–	51,195	(51,195)	–
	`────────────`	`────────`	`─────────`	`────────────`
	4,781,652	53,462	(173,981)	4,661,133
	`════════════`	`════════`	`═════════`	`════════════`

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2024

18. Analysis of charitable funds (continued)

Restoration of Institute & Memorial Hall

This fund was set up for the restoration of the Institute and Newbridge Memo.

Memorial Gardens

This fund was set up to create a memorial garden.

Celebrating a Centenary of Heritage & Arts Project

National Heritage Lottery Fund and Garfield Weston Foundation funding to secure sustainability of the Institute and Memo.

The Grocers' Charity - Tuesday Night Dance Club

Funding received to support the Tuesday Night Dance Club for one year.

Awards for All - Future Footsteps

Funding for a volunteer peer mentor project to identify volunteers who can be upskilled to become ambassadors for the projects and schemes of the Institute and Memo.

19. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Tangible fixed assets	1,483	4,545,283	4,546,766
Current assets	64,059	21,046	85,105
Creditors less than 1 year	(6,108)	–	(6,108)
	`────────`	`────────────`	`────────────`
Net assets	59,434	4,566,329	4,625,763
	`════════`	`════════════`	`════════════`
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Tangible fixed assets	–	4,660,793	4,660,793
Current assets	81,417	6,275	87,692
Creditors less than 1 year	(4,763)	(5,935)	(10,698)
	`────────`	`────────────`	`────────────`
Net assets	76,654	4,661,133	4,737,787
	`════════`	`════════════`	`════════════`

Celynen Collieries Institute and Memorial Hall Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 December 2024

20. Related parties

The charity holds 100% of the issued share capital of Newbridge Memo Ltd a company incorporated in England & Wales, company number 07511516. At the year end that company owed Celynen Collieries Institute and Memorial Hall Limited £14,032 (2023: £30,251).

During the year, Newbridge Memo Ltd recharged the charity £13,594 (2023: £13,594) as a service charge for occupying the space used as the library.

In addition, gross staff costs and overheads of £129,923 (2023: £49,712) were transferred to the charity, from Newbridge Memo Ltd, as these expenses are part of the 'Celebrating a Centenary of Heritage & Arts' project funded by the National Lottery Heritage Fund and projects funded by the Garfield Weston Foundation and National Lottery Community Fund Awards for All.

Issuer

Issuer Walter Hunter Document generated Mon, 29th Sep 2025 9:26:26 BST Document fingerprint 12ea71b0e602874e77124145c302a429

Parties involved with this document

Document processed Party + Fingerprint Mon, 29th Sep 2025 9:48:20 BST Mr James Nathaniel Clayton-Jones - Signer (4b3585f70f43df316b949ccce507e31f) Mon, 29th Sep 2025 11:04:00 BST Jonathan Rhodes - Signer (c3a1756c0a38461b6f1fe3a575b44bd3) Mon, 29th Sep 2025 11:04:00 BST Zoe Goodwin - Copied In (dc72431596dd1d3dbc9289a6c4e73673)

Audit history log

Date Action Mon, 29th Sep 2025 9:26:26 BST Envelope generated with fingerprint 252f778c65072ef3ce676eadf2d8be32 (18.133.63.166) Mon, 29th Sep 2025 9:26:26 BST Document generated with fingerprint 12ea71b0e602874e77124145c302a429. (18.133.63.166) Mon, 29th Sep 2025 9:26:26 BST Document generated with fingerprint e1581fcb40675abdb6794ec2a1032744. (18.133.63.166) Mon, 29th Sep 2025 9:26:26 BST Mr James Nathaniel Clayton-Jones has been assigned to this envelope. (18.133.63.166) Mon, 29th Sep 2025 9:26:26 BST Jonathan Rhodes has been assigned to this envelope. (18.133.63.166) Mon, 29th Sep 2025 9:26:26 BST Zoe Goodwin has been assigned to this envelope. (18.133.63.166) Mon, 29th Sep 2025 9:26:37 BST Envelope generated Mon, 29th Sep 2025 9:26:37 BST Sent the envelope to Mr James Nathaniel Clayton-Jones for signing Mon, 29th Sep 2025 9:26:37 BST Document emailed to party email Mon, 29th Sep 2025 9:47:32 BST Mr James Nathaniel Clayton-Jones viewed the envelope (86.179.7.148) Mon, 29th Sep 2025 9:48:20 BST Mr James Nathaniel Clayton-Jones signed the envelope (86.179.7.148) Mon, 29th Sep 2025 9:48:20 BST Sent the envelope to Jonathan Rhodes for signing (86.179.7.148) Mon, 29th Sep 2025 9:52:19 BST Document emailed to party email Mon, 29th Sep 2025 11:03:36 BST Jonathan Rhodes viewed the envelope (81.150.186.46) Mon, 29th Sep 2025 11:04:00 BST Jonathan Rhodes signed the envelope (81.150.186.46) Mon, 29th Sep 2025 11:04:00 BST Sent the envelope to Zoe Goodwin for signing (81.150.186.46)

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