## AGM 2022 – Progress Report Steve Mackey – Chair Tony Moon – Project Secretary **----- Start of picture text -----**
Martin
Detailed
Roberts
Examination
Version 1
**----- End of picture text -----**
## **Progress with the Local Authorities** Project Board has been reinstated under Simon Gale – Director of Prosperity & Development for RCT 3 Meetings so far. RCT are appointing a consultant to prepare an application for a Heritage Lottery Fund grant of £5M NPT Council has expressed its firm support. Likely to be changes following local elections - a coalition is likely **Progress with the Welsh Government** Last Meeting was Feb. 2021 – before the Senedd Elections . . . Poor **Progress with the Tunnel Owners – London Department for Transport** Chris Bryant - MP for Rhondda has been asked to get much more than £60k with a handover of ownership to Wales Several Exchanges in Parliament with Grant Shapps MP & an inconclusive meeting with the Minister of State for Transport A meeting with Welsh & London Ministers, HLF & other funders is promised We are asking Welsh Conservative Senedd Members to help ## **Progress with National Highways** Tunnel Managers – formerly Highways England National Highways are getting the BBC to film a future programme in the tunnel. Their photographer came with us in January Now fully support the project – see their website . . . their home page ## **Penpych Field** Site to receive material from the tunnel cutting Also site for Visitors’ Centre, Car Parks & for Camping / Glamping / Caravan / Motor Homes ## Pen Pych Field Tunnel Entrance (Buried) Blaencwm Village Partnership between Welcome to Our Woods and your Society to get on with developing the site for camping Visitors’ Centre Car Park Camping, Glamping, Caravans, Etc. Ground level will be raised ## **Air Quality Monitoring Visits** 17 Visits so far - Air quality is excellent National Highways now allow us to invite important guests Key to raising support for the project with decision-makers & potential funders Note that it takes well over an hour to walk the length of the tunnel **Blaengwynfi** Detailed discussions with start-up company hyperTunnel to access the buried portal by means of a tunnel extension But, hyperTunnel wanted over £200k for exploratory work before they could even confirm that the work was feasible & cost it So we have been looking at more conventional techniques to access the portal ## Blaengwynfi **----- Start of picture text -----**
Hillside
**----- End of picture text -----**
New Portal Original Portal Extension Buried Tunnel . . . making the tunnel more than 2 miles long Tubosider Tunnel Extension Or a Sheet Pile Trench **Currently . . .** Your Technical Subcommittee has drawn up detailed costings to: - Extend the tunnel to the surface with a Tubosider tube - Access the tunnel by means of a trench with Sheet Piling Both Schemes are being reviewed by Corderoy – Quantity Surveyors before we choose We aim to launch a public appeal to raise funds to do this privately & make a planning application to NPT Council . . . Perhaps this will stir the Welsh Government into more action ## **So – Some Big Challenges ahead** 1. To get planning permission & raise funds privately to access the tunnel 2. To make the Rhondda Tunnel a “must-visit” attraction . . . . . . Visitors must be given lots of varied experiences . . . ideas please!! Great progress with the National Library of Wales in Aberwystwyth to use their huge collection - especially digital material 3. Get funding for the whole project ## **Rhondda Tunnel Society Profit and Loss Account for the year ended 31 July 2021** |**Turnover**
Cost of sales
**Gross profit**
Administrative expenses
**Operating profit**
**Profit before taxation**
Tax on profit
**Profit for the financial year**|**2021**
**Unresticted**
**Funds**
**Resticted**
**Funds Total Funds**
**£**
23,234
23,234
(4,954)
-
(4,954)
-
18,280
-
18,280
(16,970)
-
(16,970)
-
1,310
-
1,310
-
1,310
-
1,310
-
-
1,310
-
1,310|**2020**
**Prior Year**
**Funds**
**£**
39,767
(109)| |---|---|---| |||39,658
(25,551)| |||14,107| |||14,107
-| |||14,107| 2 ## **Rhondda Tunnel Society Registered number:** 1162646 **Balance Sheet as at 31 July 2021** |**Notes**
**Fixed assets**
Tangible assets
2
**Current assets**
Stocks
Barclays Community Account
Santander Business Account
Cash in Hand
Paypal Account
**Creditors: amounts falling due**
**within one year**
3
**Net current assets liabilities**
**Net assets**
**Capital and reserves**
Reserves Brought forward
Profit and loss account
**Total Funds**
Signed on behalf of the trustees
Mrs Lesley Crew (Treasurer)
Mr Stephen Mackey (Chairman)||**2021**
**Unresticted**
**Funds**
**£**
4,128
1,000
-
3,687
1,618
551
(3,589)
3,267
7,395
6,085
1,310
7,395
-|**Resticted**
**Funds**
0
22,934
3,403
26,337
26,337
26,337
26,337
26,337
-|**Total Funds**
4,128
-
-
1,000
22,934
7,090
1,618
551
26,337
-
(3,589)
-
29,604
-
33,732
32,422
1,310
-
33,732
-|**2020**
**Prior Year**
**Funds**
**£**
4,516
1,000
15,690
11,169
18
551| |---|---|---|---|---|---| ||||||28,428
522
27,906| ||||||| ||||||32,422| ||||||-
32,422| ||||||32,422| ||||||-| Approved by the trustees on 31 August 2022 3 **Rhondda Tunnel Society Notes to the Accounts for the year ended 31 July 2021** ## **1 Accounting policies** ## _**Basis of preparation**_ These accounts have been prepared under the historical cost conventions with items recognised at cost at cost or transaction value unless otherwise stated in the relevant note to these accounts. ## _**Accounting Policies**_ These are included in the Statement of Financial Activities (SoFA) when: the charity becomes entitled to the resources; it is more likely than not that the trustess will receive the resources; and the monetary value can be measured with sufficient reliability. Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Grants and Donations Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP). In the case of performance related grants, income must only be recognised to the extent that the charity has provded the specifid goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP). Volunteer Help The value of any voluntary help received is not included in the accounts. ## **Tangible fixed assets** Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Motor vehicles 25% on W D V Fixtures, fittings, tools and equipment 25% on W D V ## _**Stocks**_ Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. ## _**Debtors**_ Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. ## _**Creditors**_ Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. 4 **Rhondda Tunnel Society Notes to the Accounts for the year ended 31 July 2021** ## _**Provisions**_ Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. ## **2 Tangible fixed assets** |**Plant and**
**machinery**
**etc**
**£**
**Cost**
At 1 August 2020
7,056
Additions
989
At 31 July 2021
8,045
**Depreciation**
At 1 August 2020
4,227
Charge for the year
955
At 31 July 2021
5,182
**Net book value**
At 31 July 2021
2,863
At 31 July 2020
2,829
**Tangible fixed assets**
**3**
**Unresticted Creditors: amounts falling due within one year**
Other creditors
**4**
**Resticted Creditors: amounts falling due within one year**
Accruals
Deferred Income|**Motor**
**vehicles**
**£**
4,000
-
4,000
2,313
422
2,735
1,265
1,687
**2021**
**£**
3,067
3,589
-
3,589|**Total**
**£**
11,056
989| |---|---|---| |||12,045| |||6,540
1,377| |||7,917| |||4,128| |||4,516| |||**2020**
**£**
-
523
(1)| |||522| ## **5** Deferred Income A grant from Pen Y Cymoedd Wind Farm amounting to £90,975 was received .A balance of £15553 remains unspent . 5 ## **Rhondda Tunnel Society Detailed profit and loss account for the year ended 31 July 2021** _This schedule does not form part of the statutory accounts_ |**Sales**
Cost of sales
**Gross profit**
Administrative expenses
**Operating profit**
**Profit before tax**|**2021**
**Unresticted**
**Funds**
**Resticted**
**Total**
**£**
23,234
23,234
(4,954)
(4,954)
18,280
18,280
(16,970)
-
(16,970)
1,310
-
1,310
1,310
-
1,310|**2020**
**£**
50,007
(109)| |---|---|---| |||49,898
(25,551)| |||24,347| |||24,347| 6 ## **Rhondda Tunnel Society Detailed profit and loss account for the year ended 31 July 2021** |_Before adj's_
Sundry Receipts
Shop Takings
General Donations & Membership
R C T Grant
Grant Wind Farm
Raffle
Events
Bank Interest
**Cost of sales**
Merchandise Costs
Function Costs
Shop Purchases
**Administrative expenses**
Employee costs:
Training and welfare
Motor expenses
Premises costs:
Shop Rent
Shop Rates
Shop Light and heat
General administrative expenses:
Telephone and fax
Stationery and printing
Subscriptions
Paypal Fees
Bank charges
Insurance
Software
Repairs and maintenance
Depreciation
Sundry expenses
Legal and professional costs:
Accountancy fees
Inspection and Tunnel Work|**2021**
Unresticted
Funds Resticted
Total Funds
**£**
624
624
8,582
8,582
646
646
13,060
-
-
322
322
-
-
-
-
23,234
-
10,174
874
874
4,080
4,080
-
-
4,954
-
4,954
337
337
1,556
1,556
1,893
1,893
4,767
4,767
76
76
1,150
1,150
5,993
-
5,993
1,525
1,525
1,834
1,834
1,250
1,250
-
-
122
122
229
229
426
426
677
677
1,376
-
1,376
925
925
8,364
-
8,364
720
720
-
-
-
720
-
720
16,970
-
16,970|**2020**
Prior Year
**£**
10,431
7,186
531
12,844
19,015
-
130
61| |---|---|---| |||39,767| |||-
55
54| |||109| |||754
1,382| |||2,136| |||5,222
124
809| |||6,155| |||1,043
2,096
-
397
144
664
2,055
1,290
2,511
1,029| |||11,229| |||-
6,031| |||6,031| |||| |||25,551| 8