REGISTERED COMPANY NUMBER: (England and Wales) REGISTERED CHARITY NUMBER: 1169435
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2025
for
Tenby Museum & Art Gallery
Ashmole and Co. Williamston House 7 Goat Street Haverfordwest Pembrokeshire SA61 1PX
Tenby Museum & Art Gallery
Report of the Trustees for the Year Ended 31 December 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
Trustees have continued to meet bi-monthly throughout 2025. Some Trustees continue to access meetings via Zoom; ensuring that all meetings are quorate. Trustees remain committed to their fiduciary duty to ensure that the Museum remains sustainable and financially viable and acts within the best interest of its stakeholders
OBJECTIVES AND ACTIVITIES
Main activities
At the start of the year Trustees appointed officials for the year with Andrew Edwards taking the Chair. They reviewed staffing arrangements for the current year and carried out a skills audit to assess the needs of the Board going forward. A new Trustee was appointed with skills in art and art conservation.
Once again, the Museum faced staffing challenges with the Education and Outreach Officer's funded post coming to an end. The Board extended the role for three months but was unable to sustain the post any longer due to ongoing financial challenges. The Curator left her post at the end of August and the Office Manager also left towards the end of the year for personal reasons, leaving the Museum with just one paid member of staff.
At the same time, the Museum was awarded a Welsh Government grant as part of the Priorities for Culture grant scheme, the aim being to make the building watertight and improve storage and display facilities. The Board accepted the grant offer and work commenced at the end of the year with a view to completion by April 2026. The Museum closed to the public in December 2025 for the work to commence and it is with sincere appreciation that Trustees acknowledge the support given by the committed and dedicated team of volunteers at the Museum during this period, particularly in clearing the spaces for building work and packing and securing the collections.
A new member of staff was appointed in September on a temporary basis. Anita Schwartz proved to be a great asset to the Museum, and it was agreed that she should take up the post of Curator with effect from 1st January 2026. Anita was also appointed the staff representative for Safeguarding and Sandra Williams was appointed the Trustee member.
As a result of notable losses over the past two years and having to dip into reserves, the Board's focus for 2025 (along with the grant work) was to work towards achieving greater efficiencies and the aim to achieve a gross profit position within three years.
A new lease has still not been signed; however, Pembrokeshire County Council supports the existing Heads of Terms that have been agreed.
A working group (the 150 Working Group) has been established to commence arrangements for celebrating the 150th anniversary of the Museum in 2028.
At the end of the year, the Chairman, Andrew Edwards, gave notice that he would be standing down on 31st December and resigning his position as Trustee. Trustees expressed their deep appreciation to Andrew for the enthusiasm and professionalism he brought to the role. His leadership and strategic vision, as well as mentoring of staff and fellow Trustees was a great strength to the Board.
It was agreed that the closure period would provide time to consider a replacement Chair.
Page 1
Tenby Museum & Art Gallery
Report of the Trustees for the Year Ended 31 December 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
(England and Wales)
Registered Charity number 1169435
Registered office
Castle Hill TENBY Pembrokeshire SA70 7BP
Trustees
M Williams J Evans P Rapi C Delaney S Williams A Edwards (resigned 31.12.25) R Davies C White P Evans M Brown N Westerman L Crockford (resigned 21.3.25) H Macro (appointed 24.1.25)
Company Secretary
Independent Examiner
Ashmole and Co. Williamston House 7 Goat Street Haverfordwest Pembrokeshire SA61 1PX
Approved by order of the board of trustees on 29 June 2026 and signed on its behalf by:
N Westerman - Trustee
Page 2
Independent Examiner's Report to the Trustees of Tenby Museum & Art Gallery
Independent examiner's report to the trustees of Tenby Museum & Art Gallery ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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 Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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
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the accounts 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.
W G Hughes, FCCA
Ashmole and Co. Williamston House 7 Goat Street Haverfordwest Pembrokeshire SA61 1PX
Date: .............................................
Page 3
Tenby Museum & Art Gallery
Statement of Financial Activities for the Year Ended 31 December 2025
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 6,477 Other trading activities 3 52,511 Investment income 4 1,446 Other income 14,080 Total 74,514 EXPENDITURE ON Raising funds 6,213 Charitable activities Operation of Museum 109,937 Total 116,150 NET INCOME/(EXPENDITURE) (41,636) RECONCILIATION OF FUNDS Total funds brought forward 142,166 TOTAL FUNDS CARRIED FORWARD 100,530 |
Restricted fund £ 18,681 - - - 18,681 854 17,966 18,820 (139) 1,160 1,021 |
31.12.25 31.12.24 Total Total funds funds £ £ 25,158 35,856 52,511 58,520 1,446 2,194 14,080 19,794 93,195 116,364 7,067 7,816 127,903 132,399 134,970 140,215 (41,775) (23,851) 143,326 167,177 101,551 143,326 |
|---|---|---|
The notes form part of these financial statements
Page 4
Tenby Museum & Art Gallery
Balance Sheet 31 December 2025
| Unrestricted fund Notes £ FIXED ASSETS Intangible assets 8 6,331 Tangible assets 9 13,638 19,969 CURRENT ASSETS Stocks 10 5,309 Debtors 11 1,353 Investments 12 27,873 Cash at bank and in hand 48,681 83,216 CREDITORS Amounts falling due within one year 13 (2,655) NET CURRENT ASSETS 80,561 TOTAL ASSETS LESS CURRENT LIABILITIES 100,530 NET ASSETS 100,530 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - 983 983 - - - 37 37 1 38 1,021 1,021 |
31.12.25 Total funds £ 6,331 14,621 20,952 5,309 1,353 27,873 48,718 83,253 (2,654) 80,599 101,551 101,551 100,530 1,021 101,551 |
31.12.24 Total funds £ 6,331 17,913 24,244 5,594 1,952 27,540 91,487 126,573 (7,491) 119,082 143,326 143,326 142,166 1,160 143,326 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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Tenby Museum & Art Gallery
Balance Sheet - continued 31 December 2025
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 June 2026 and were signed on its behalf by:
N Westerman - Trustee
C White - Trustee
The notes form part of these financial statements
Page 6
Tenby Museum & Art Gallery
Notes to the Financial Statements for the Year Ended 31 December 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost Plant and machinery - 10% on cost Computer equipment - 33% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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Tenby Museum & Art Gallery
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
2. DONATIONS AND LEGACIES
| 2. | DONATIONS AND LEGACIES | ||
|---|---|---|---|
| 31.12.25 | 31.12.24 | ||
| £ | £ | ||
| Donations | 494 | 21,174 | |
| Gift aid | 4,983 | 6,456 | |
| Grants | 19,681 | 8,226 | |
| 25,158 | 35,856 | ||
| Grants received, included in the above, are as follows: | |||
| Pembrokeshire County Council | 31.12.25 £ 999 |
31.12.24 £ 1,000 |
|
| The Federation of Museums and Art Galleries of Wales | 7,881 | - | |
| Pembrokeshire Coast National Park Authority | - | 2,000 | |
| Welsh Federation of Museums | 2,400 | 526 | |
| Pembrokeshire County Council Enhancing Pembrokeshire Fund - Glyn's | 5,155 | 4,700 | |
| Salary | |||
| Group for Education - Glyn's Activities | 746 | - | |
| Kids in Museums - Glyn's Activities | 500 | - | |
| National Art College - Glyn's Activities | 2,000 | - | |
| 19,681 | 8,226 | ||
| 3. | OTHER TRADING ACTIVITIES | ||
| Admissions | 31.12.25 £ 52,511 |
31.12.24 £ 58,520 |
|
| 4. | INVESTMENT INCOME | ||
| Deposit account interest | 31.12.25 £ 1,446 |
31.12.24 £ 2,194 |
|
| 5. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| Depreciation - owned assets | 31.12.25 £ 3,481 |
31.12.24 £ 4,720 |
continued...
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Tenby Museum & Art Gallery
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 30,631 Other trading activities 58,520 Investment income 2,194 Other income 19,794 Total 111,139 EXPENDITURE ON Raising funds 7,787 Charitable activities Operation of Museum 127,027 Total 134,814 NET INCOME/(EXPENDITURE) (23,675) RECONCILIATION OF FUNDS Total funds brought forward 165,841 TOTAL FUNDS CARRIED FORWARD 142,166 8. INTANGIBLE FIXED ASSETS COST At 1 January 2025 and 31 December 2025 NET BOOK VALUE At 31 December 2025 At 31 December 2024 |
Restricted Total fund funds £ £ 5,225 35,856 - 58,520 - 2,194 - 19,794 5,225 116,364 29 7,816 5,372 132,399 5,401 140,215 (176) (23,851) 1,336 167,177 1,160 143,326 Development costs £ 6,331 6,331 6,331 |
|---|---|
continued...
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Tenby Museum & Art Gallery
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
9. TANGIBLE FIXED ASSETS
| Improvements to Plant and property machinery £ £ COST At 1 January 2025 29,771 175,083 Additions - 189 At 31 December 2025 29,771 175,272 DEPRECIATION At 1 January 2025 21,928 167,665 Charge for year 471 1,092 At 31 December 2025 22,399 168,757 NET BOOK VALUE At 31 December 2025 7,372 6,515 At 31 December 2024 7,843 7,418 10. STOCKS Stocks 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Art Control Account Prepayments 12. CURRENT ASSET INVESTMENTS Unlisted investments |
Computer equipment £ 13,795 - 13,795 11,143 1,918 13,061 734 2,652 31.12.25 £ 5,309 31.12.25 £ - - 1,353 1,353 31.12.25 £ 27,873 |
Totals £ 218,649 189 218,838 200,736 3,481 204,217 14,621 17,913 31.12.24 £ 5,594 31.12.24 £ 1,555 135 262 1,952 31.12.24 £ 27,540 |
||
|---|---|---|---|---|
continued...
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Tenby Museum & Art Gallery
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Other creditors Accrued expenses MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
At 1.1.25 £ 142,166 1,160 143,326 Incoming resources £ 74,514 18,681 93,195 At 1.1.24 £ 165,841 1,336 167,177 |
31.12.25 31.12.24 £ £ 108 4,827 226 - 107 783 2,213 1,881 2,654 7,491 Net movement At in funds 31.12.25 £ £ (41,636) 100,530 (139) 1,021 (41,775) 101,551 Resources Movement expended in funds £ £ (116,150) (41,636) (18,820) (139) (134,970) (41,775) Net movement At in funds 31.12.24 £ £ (23,675) 142,166 (176) 1,160 (23,851) 143,326 |
|---|---|---|
14. MOVEMENT IN FUNDS
continued...
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Tenby Museum & Art Gallery
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 111,139 Restricted funds Restricted 5,225 TOTAL FUNDS 116,364 A current year 12 months and prior year 12 months combined position is as follows: At 1.1.24 £ Unrestricted funds General fund 165,841 Restricted funds Restricted 1,336 TOTAL FUNDS 167,177 |
Resources Movement expended in funds £ £ (134,814) (23,675) (5,401) (176) (140,215) (23,851) Net movement At in funds 31.12.25 £ £ (65,311) 100,530 (315) 1,021 (65,626) 101,551 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
Incoming resources £ 185,653 23,906 209,559 |
Resources Movement expended in funds £ £ (250,964) (65,311) (24,221) (315) (275,185) (65,626) |
|---|---|---|
continued...
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Tenby Museum & Art Gallery
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2025.
Page 13
Tenby Museum & Art Gallery
Detailed Statement of Financial Activities for the Year Ended 31 December 2025
| 31.12.25 | 31.12.24 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 494 | 21,174 |
| Gift aid | 4,983 | 6,456 |
| Grants | 19,681 | 8,226 |
| Other trading activities | 25,158 | 35,856 |
| Admissions | 52,511 | 58,520 |
| Investment income | ||
| Deposit account interest | 1,446 | 2,194 |
| Other income | ||
| Shop sales | 13,499 | 15,145 |
| Art commission | 421 | 3,439 |
| Other revenue | 160 | 1,210 |
| 14,080 | 19,794 | |
| Total incoming resources | 93,195 | 116,364 |
| EXPENDITURE | ||
| Other trading activities | ||
| Opening stock | 5,594 | 3,500 |
| Purchases | 6,782 | 9,910 |
| Closing stock | (5,309) | (5,594) |
| 7,067 | 7,816 | |
| Charitable activities | ||
| Wages | 54,490 | 70,140 |
| Pensions | 849 | 1,006 |
| Rates and water | 687 | 550 |
| Insurance | 7,048 | 5,447 |
| Light and heat | 10,368 | 7,746 |
| Telephone | 1,828 | 1,466 |
| Postage and stationery | 345 | 1,538 |
| Advertising | 4,218 | 5,285 |
| Sundries | 53 | 119 |
| Exhibition costs | 8 | 913 |
| Cleaning and waste management | 2,791 | 4,839 |
| Security | 1,018 | 1,448 |
| Conservation | 2,069 | 225 |
| Premises repairs, renewals and maintenance | 12,254 | 1,642 |
| Service charges payable | 50 | 50 |
| Carried forward | 98,076 | 102,414 |
This page does not form part of the statutory financial statements
Page 14
Tenby Museum & Art Gallery
Detailed Statement of Financial Activities for the Year Ended 31 December 2025
| 31.12.25 | 31.12.24 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Brought forward | 98,076 | 102,414 |
| Memberships and subscriptions | 1,487 | 1,485 |
| Event costs | 2,510 | 477 |
| Travel & subsistence | 966 | 813 |
| Leasing costs | 4,120 | 3,611 |
| Computer costs | 6,115 | 7,231 |
| Staff training | 1,011 | 106 |
| Translation services | - | 486 |
| Improvements to property | 472 | 472 |
| Plant and machinery | 176 | 176 |
| Fixtures and fittings | 916 | 897 |
| Computer equipment | 1,919 | 3,175 |
| Support costs | 117,768 | 121,343 |
| Finance | ||
| Bank charges | 940 | 1,510 |
| Governance costs | ||
| Professional and legal fees | 4,800 | 4,428 |
| Accountancy fees | 3,654 | 4,200 |
| Payroll fees | 741 | 918 |
| 9,195 | 9,546 | |
| Total resources expended | 134,970 | 140,215 |
| Net expenditure | (41,775) | (23,851) |
This page does not form part of the statutory financial statements
Page 15
Tenby Museum & Art Gallery
Contents of the Financial Statements for the Year Ended 31 December 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |