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2020-12-31-accounts

Trustees’ Annual Report for the period From 1 January 2019 to 31 December 2020

Charity name: The Friends of Neath Abbey Iron Company (FNAIC) Charity registration number: 1178391

Objectives and Activities

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SORP
reference
Summary of the Para 1.17 The objects of the CIO are:
purposes of the charity (1) To preserve, restore and
as set out in its maintain for the benefit of the
governing document public the historic structure and
environs known as Neath Abbey
Ironworks, Neath Abbey, south
Wales.
(2) To advance the public's
education with regard to the
heritage and culture, especially that
pertaining to engineering and
science, of Neath Abbey Ironworks
and its environs.
Summary of the main Para 1.17 We preserve for the public's benefit
activities in relation to and 1.19 the historic structure and environs
those purposes for the of Neath Abbey ironworks, Neath
public benefit, in Abbey, south Wales. This involves
particular, the vegetation control and conservation
activities, projects or work.
services identified in We advance the public's education
the accounts. regarding the heritage and culture,
especially engineering and science,
of Neath Abbey ironworks and its
environs. This involves, amongst
others, community educational
events such as guided tours, open
days, exhibitions and talks.
Statement confirming Para 1.18 We confirm that the trustees have
whether the trustees had
have had regard to the regard to the Charity Commission’s
guidance issued by the guidance on public benefit when
Charity Commission on planning our activities.
public benefit
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Additional information (optional)

You may choose to include further statements where relevant about:

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SORP
reference
Policy on grant making Para 1.38 N/A
Policy on social Para 1.38 N/A
investment including
program related
investment
Contribution made by Para 1.38 The achievements of the charity
volunteers would not have occurred without
the contributions made by
volunteers. The Trustees give freely
of their time, and lead the
volunteers. We meet every Sunday
afternoon, and frequently on
weekdays. This is apart from
archaeological digs, guided tours,
lectures and talks given by the
trustees. The Friends work in the
Ironworks sometimes 3-4 days per
week.
Other N/A
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Achievements and Performance

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SORP
reference
Summary of the main Heritage is a huge resource which
achievements of the cannot be replaced once it is lost.
charity, identifying the
The Ironworks has been completely
difference the charity’s transformed from a derelict
work has made to the
dumping ground into a community
circumstances of its Para 1.20
space. Removal of trees and ivy
beneficiaries and any
has stopped the damage of
wider benefits to
archaeological remains, and
society as a whole.
herbicide spraying of vegetation
such as buddleia and ivy has saved
the monuments from further
degradation. Clearing of illegal
refuse tipped from the site has
metamorphosed this forgotten
valley into a useable community
space. The volunteers have
achieved this alone.
The benefits of heritage
engagement cannot be
understated, especially in an area
where 11 per cent of working age
adults have no qualifications and is
ranked as amongst the most
deprived areas in Wales. FNAIC
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provides skills training for its volunteers, and this engagement has improved employment skills; ranging from technical and business management to conservation and information management. Volunteering opportunities provide a way to actively improve one’s mental and physical health. By giving people meaningful roles and physical work, FNAIC offers a real opportunity to add value to the community in a worthwhile way and at the same time it provides a context in which people can live a healthy life. We meet once a week on a Sunday afternoon, and in the summer on Wednesday nights. Between 12-20 people of all ages volunteer each week, but our pool of volunteers is approximately 50. Shared learning is vital to sustaining the historic environment; it raises awareness and understanding of heritage, including the varied ways in which our past is perceived by different generations and communities. It encourages informed and active participation in the historic environment. Knowledge and expertise are vital in encouraging and enabling others to learn about, value and care for our heritage. The Ironwork’s site is vital to the community, and it is important that the site is conserved, so that future generations can benefit from its legacy. Our onsite community work was very much curtailed in 2020 by the lockdowns due to Covid. Work on the Ironworks ceased in March, and did not resume until August. Even with these disruptions, however, we

endeavoured to look after the site to the best of our ability. There were no off-site lectures given to groups to highlight the heritage of the site, and no exhibitions. Our Open Doors days in conjunction with Cadw were cancelled. We were fortunate to receive grant funding from the Co-op throughout the year of over £2,600 and will buy a powered wheelbarrow to work on the site with this. We were successful in obtaining grant funding from National Lottery Heritage Fund in November for a project in Neath Abbey Ironworks and a telephone kiosk in Longford housing estate. This involved:  Digitally producing guides for Neath Abbey, this digital outreach is vital to increase the community’s knowledge and well being.  Commissioning 3-D representations of the Ironworks so that people can visualise the Ironworks at its world-beating peak when it powered the Industrial Revolution.  Renovating a disused BT telephone kiosk which cost £1, and converting it into a heritage centre. Here local people can, via a large accessible display book and works of art, discover the area’s heritage and local trails.  Erecting panels in the Ironworks to explain the history and function of the structures and buildings, and show the Ironworks when working. This will engage the considerable daily through footfall and visitors.  Purchasing notice boards for community engagement tasks about the heritage and environment of the Ironworks.  Challenging the local Dwr Y Felin Comprehensive schoolchildren to produce artworks that reflect Neath Abbey’s heritage. Samples of this work to be displayed online and in the

kiosk. Work on this project was immediately delayed by the imposition of another lockdown in December, and did not start until the following spring. A personal loss was the passing away of our Treasurer, Debby Harvey in January. She will be missed by the Friends. FNAIC has a Facebook site, attracting 755 followers, up 150 on last year. On Twitter, impressions many thousands per month.

Additional information (optional)

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You may choose to include further statements where relevant about:
Achievements against Para 1.41
objectives set
Performance of Para 1.41
fundraising activities
against objectives set
Investment Para 1.41
performance against
objectives
Other
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Financial Review

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Review of the charity’s Para 1.21 Cash at bank on 31/12/2020 was
financial position at the £13639. The funds are held to
end of the period cover operational costs in the
future.
Statement explaining Para 1.22 Reserves are held to provide funds
the policy for holding for future liabilities, such as running
reserves stating why costs for 12 months. However, this
they are held is only to the extent that the limited
resources of the charity allow, and
we are fortunate that our expenses
are low.
Amount of reserves Para 1.22 £1714
held
Reasons for holding Para 1.22 N/A
zero reserves
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Details of fund Para 1.24 N/A
materially in deficit
Explanation of any Para 1.23 There are no uncertainties about
uncertainties about the the charity continuing.
charity continuing as a
going concern
Additional information (optional)
You may choose to include further statements where relevant about:
Para 1.47 Our main sources of funds this year
have been grants and donations.
The charity’s principal We applied for Co-op and Lottery
sources of funds Heritage Fund grants and received
(including any £11925.
fundraising)
Investment policy and Para 1.46 N/A
objectives including
any social investment
policy adopted
A description of the Para 1.46 The main risk is the finding of
principal risks facing successors to the trustees.
the charity However, we have found that
interest in our work is growing, and
new trustees have stepped forward.
Other
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Structure, Governance and Management

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Description of charity’s
trusts:
Type of governing Para 1.25 Foundation model constitution
document
(trust deed, royal
charter)
How is the charity Para 1.25 CIO
constituted?
(e.g unincorporated
association, CIO)
Trustee selection Para 1.25 Eligibility for trusteeship
methods including a) Every charity trustee must be a
details of any natural person.
constitutional b) No one individual may be
provisions e.g. election appointed as a charity trustee of
to post or name of any the CIO:
person or body entitled  if he or she is under the age of
to appoint one or more 16 years; or
trustees  if he or she would automatically
cease to hold office under the
provisions of clause [12(1)(e)].
c) No one is entitled to act as a
charity trustee whether on
appointment or on any re-
appointment until he or she has
expressly acknowledged, in
whatever way the charity trustees
decide, his or her acceptance of the
office of charity trustee.
Number of charity trustees
a) There must be at least four
charity trustees. If the number falls
below this minimum, the remaining
trustee or trustees may act only to
call a meeting of the charity
trustees, or appoint a new charity
trustee.
b) The maximum number of charity
trustees is 14. The charity trustees
may not appoint any charity trustee
if as a result the number of charity
trustees would exceed the
maximum.
Appointment of charity trustees
1) Apart from the first charity
trustees, every trustee must be
appointed by a resolution passed at
a properly convened meeting of the
charity trustees.
2) In selecting individuals for
appointment as charity trustees,
the charity trustees must have
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regard to the skills, knowledge and experience needed for the effective administration of the CIO. Retirement and removal of charity trustees 1) A charity trustee ceases to hold office if he or she: a) retires by notifying the ClO in writing (but only if enough charity trustees will remain in office when the notice of resignation takes effect to form a quorum for meetings); b) is absent without the permission of the charity trustees from all their meetings held within a period of six months and the trustees resolve that his or her office be vacated; c) dies; d) becomes incapable by reason of mental disorder, illness or injury of managing and administering his or her own affairs; or e) is disqualified from acting as a charity trustee by virtue of sections 178-180 of the Charities Act 2011 (or any statutory reenactment or modification of that provision). 2) Any person retiring as a charity trustee is eligible for reappointment.

Additional information (optional)

You may choose to include further statements where relevant about: Policies and procedures Para 1.51 Information for new charity adopted for the trustees induction and training The charity trustees will make of trustees available to each new charity trustee, on or before his or her first appointment: a) a copy of the current version of this constitution; and b) a copy of the CIO’s latest Trustees' Annual Report and statement of accounts. Training is arranged for trustees so that they may learn more about their roles and responsibilities. The charity’s Para 1.51 organisational structure and any wider network with

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which the charity
works
Relationship with any Para 1.51
related parties
Other
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Reference and Administrative details

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Charity name The Friends of Neath Abbey Iron Company
Other name the charity
uses
Registered charity 1178391
number
Charity’s principal Secretary: PL Richards
address Wern Ddu Uchaf Farm
Wernddu Rd
Alltwen
Pontardawe
Swansea
SA8 3JA
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Names of the charity trustees who manage the charity

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Name of person (or
Dates acted if not body) entitled to
Trustee name Office (if any)
for whole year appoint trustee (if
any)
Victor Kean Chair By a properly convened
1 James meeting of the charity
trustees.
Stephen Vice-Chair By a properly convened
2 Absalom meeting of the charity
trustees.
Debbie Harvey Treasurer 1-14/1/2020. By a properly convened
Ceased meeting of the charity
appointment as trustees.
trustee on
17.1.2020
Stephen Treasurer 14/1/2020-end By a properly convened
3 Edmund Ball meeting of the charity
trustees.
Peter Richards Secretary By a properly convened
4 meeting of the charity
trustees.
Cathryn Trustee 24/9/2020-end By a properly convened
5 Elizabeth Lloyd meeting of the charity
Richards trustees.
Sandra Jane Trustee 24/9/2020-end By a properly convened
6 Morgan meeting of the charity
trustees.
Reginald John Trustee 24/9/2020-end By a properly convened
7 Atherton meeting of the charity
trustees.
8
9
10
11
12
13
14
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Corporate trustees – names of the directors at the date the report was approved

Director name N/A

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year N/A

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Funds held as custodian trustees on behalf of others
Description of the N/A
assets held in this
capacity
Name and objects of N/A
the charity on whose
behalf the assets are
held and how this falls
within the custodian
charity’s objects
Details of N/A
arrangements for safe
custody and
segregation of such
assets from the
charity’s own assets
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Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address advise r

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Peter Lloyd Richards Position (eg Secretary Secretary, Chair, etc)

Date 13.10. 2021

CHARITY (OMMISSION FOQ ENGIAND AND WAIE> Th Frie￿5 of Abbey CompaRy 1178391 Receipts and payments accounts CC16a F￿ ihe period 31.12.2•2• Section A Receipts and payments Uniestricted funds Restricted Endovrneni funds Total lunds Lasi Jeal o &tarsl 10 A1 Receipts 11.925 1.35 32.354 1.066 560 12 D￿￿tio￿ 13 F￿￿rI1= 15 18 Sub total(Gross for Aft) 13275 33.3•0 A2 Assei aTrd inves1￿e￿I 21 sale5. (see iableK 23 24 25 26 27 28 A3 Paymen Sub total 1.350 11.925 13275 33.980 132 136 132 30 0tl¢t 31 SytY¢y lhd R¢p¢rt 32 R¢p)tt*+)hd th)tht¢h¥¢¢ 32.332 462 1.6T3 34 35 36 38 39 Sub total $4 54È 35.067 A4 ASS￿ and invesmieni 40 purchases. (see iable) 41 Purchaseol luwicfftalasser 1.6T3 42 43 44 Sub total 45 46 47 Netof recei￿￿(paymentsJ 48 A5 Tiansleis bei¥een lunds 49 A6 Cash lunds lasi year en 50 Cash funds this year en¢Y 51 542 542 35.067 IL925 12.733 1.087 906 1L925 19.639 1.087

52 53 se￿lOn B Statement of assets and liabilitie5 at the end of the period lkne5tsiGted Re5tiioted funds l• •t¥¢s¢ t 54 Caiegories funds l• •¢¥¢A t B1 Cah funds L714 li.#a5 57 58 59 Total ca¥h lund¥ Ln• IL25 60 )) iknwe￿Vl￿ed Res1vi￿ed Endo¥Thert luwJ5 luThls • t • t 62 t• t 63 ,B2 Other monetsry a•et 64 65 C• 66 Delails 67 'B3 Invetrnent aet 66 69 C•rt 70 Delails srtb B4A$$ets retsined for the 71 .cMrity's own 72 74 Details 75 .BS Liiblitie 77 Swdbyoror h￿trIJIt￿SOTh 78 .'b+h4lof all￿1111$1•&$ Dat@cl )pYov Pr**Nwr 79 PLRthatds SEBal 13.1•.21 80

The Friends of Neath Abbey Iron Company Financial Statements For the Year Ended 31 December 2020

Watkins Bradfield & Co., HW Vaughan & Co. and WBV are trading names of WBV Limited, a company registered in England & Wales No. 07250663 Registered Office: Woodfield House, Castle Walk, Neath SA11 3LN Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales Details of our audit registration can be viewed at www.auditregister.org.uk under reference number C002565389

The Friends of Neath Abbey Iron Company Index Year Ended 31 December 2020

Page
Annual Report 1 – 3
Independent Examiners Report 4
Financial Statements 5

The Friends of Neath Abbey Iron Company

Annual Report

Year Ended 31 December 2020

ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS

CHARITY REGISTRATION NO. 1178391
ADDRESS Wernddu Uchaf Farm
Wernddu Road
Alltwen
Pontardawe
Swansea
SA8 3JA
BANKERS Natwest Bank plc
35 Green Street
Neath
SA11 1DB
INDEPENDENT EXAMINER Richard N Chapple BSc (Econ) FCCA
WBV Limited
Chartered Accountants
The Third Floor
Langdon House
Langdon Road
SA1 Swansea Waterfront
Swansea
SA1 8QY

1

The Friends of Neath Abbey Iron Company

Annual Report Year Ended 31 December 2020

The Friends of Neath Abbey Iron Company is registered with the Charity Commissioners (No: 1178391) and is a Charitable Incorporated Organisation (CIO) governed by the foundation model constitution.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity is administered by the officers of the charity and executive committee comprising:-

Trustees

CHAIRMAN Mr V K James VICE CHAIRMAN Mr S T R Absalom SECRETARY Mr P Richards TREASURER Mr S E Ball (appointed 14/01/2020) Ms D Harvey (ceased appointment on 14/01/2020) TRUSTEE Miss C E Lloyd Richards (appointed 24/09/2020) TRUSTEE Ms S J Morgan (appointed 24/09/2020) TRUSTEE Mr R J Atherton (appointed 24/09/2020) TRUSTEE Ms D Harvey (ceased appointment on 17/01/2020)

Trustees are appointed following election by members at general meetings.

They are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

OBJECTS AND ACTIVITIES

The object of the Charity is to:

ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW

The Charity had a satisfactory year, with General Fund receipts of £1,350 (2019: £1,626) and General Fund net payments of £808 (2019: receipts £509).

The Charity had restricted grant income of £11,925 (2019: £32,354) received mainly from the Lottery Heritage Fund. The Charity did not make any payments from the restricted fund this year, during 2019 there were net payments of £578.

The Charity aims to maintain its level of reserves in future years to enable it to effectively undertake the Charity’s objectives in accordance with the terms of the Deed of Trust.

2

The Friends of Neath Abbey Iron Company

Annual Report Year Ended 31 December 2020

PUBLIC BENEFIT

The Trustees are aware of their responsibilities in ensuring that the Charity delivers identifiable benefits to the public in accord with established objectives and permitted activities. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

Signed For and on behalf of the Trustees

Mr P Richards Secretary

Date: 12 October 2021

3

The Friends of Neath Abbey Iron Company

Independent Examiner’s Report to Friends of Neath Abbey Iron Company

Year Ended 31 December 2020

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on page 5.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

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.

RICHARD N CHAPPLE BSc (Econ) FCCA WBV LIMITED THE THIRD FLOOR LANGDON HOUSE LANGDON ROAD SA1 SWANSEA WATERFRONT SWANSEA SA1 8QY

Date: 12 October 2021

4

The Friends of Neath Abbey Iron Company

Financial Statements

Year Ended 31 December 2020

1.
RECEIPTS AND PAYMENTS ACCOUNT (GENERAL PURPOSES FUND)
2020
2020
Unrestricted
Funds
Restricted
Funds
Income Receipts
Grants
-
11,925
Donations
1,350
-
Fundraising
-
-
TOTAL RECEIPTS
1,350
11,925
Other Expenditure
Insurance
132
-
Other
Survey & Report
196
-
-
Repairs & Maintenance
214
-
542
Asset Purchases
Purchase of functional assets
-
-
TOTAL PAYMENTS
542
-
Net (Payments)/ Receipts for the year
808
11,925
Transfer between funds
-
-
Cash and Bank balances 31 December
2020
906
-
1,714
11,925
Cash and Bank Balances at 31 December
2020
1,714
11,925
2.
Statement of Assets and Liabilities
Current Assets
Natwest current Account		 2020
Total Funds
£
11,925
1,350
-
13,275
132
196
214
542
-
542
12,733
-
906
13,639
13,639
2020
Total Funds
£
13,639		 2019
Total Funds
£
32,354
1,066
560
33,980
-
32,932
462
33,394
1,673
35,067
(1,087)
-
1,993
906
906
2019
Total Funds
£
906

Assets retained for charity use (Functional Assets)

The charity holds various items of gardening tools and equipment.

5