## **Trustees’ Annual Report for the period** ## **From 1 January 2021 to 31 December 2022** ## **Charity name: The Friends of Neath Abbey Iron Company (FNAIC) Charity registration number: 1178391** ## **Objectives and Activities** ||SORP
reference|| |---|---|---| |Summary of the purposes
of the charity as set out in
its governing document|Para 1.17|The objects of the CIO are:
(1) To preserve, restore and maintain
for the benefit of the 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
andits environs.| |Summary of the main
activities in relation to
those purposes for the
public benefit, in
particular, the activities,
projects or services
identified in the accounts.|Para 1.17
and 1.19|We preserve for the public's benefit the
historic structure and environs of Neath
Abbey ironworks, Neath Abbey, south
Wales. This involves vegetation control
and conservation work.
We advance the public's education
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
whether the trustees have
had regard to the
guidance issued by the
Charity Commission on
public benefit|Para 1.18|We confirm that the trustees have had
regard to the Charity Commission’s
guidance on public benefit when
planning our activities.| ## **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP
reference|| |---|---|---| |Policy on grant making|Para 1.38|**N/A **| |Policy on social
investment including
program related
investment|Para 1.38|**N/A**| |---|---|---| |Contribution made by
volunteers|Para 1.38|The achievements of the charity 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**| ## **Achievements and Performance** ||SORP
reference|| |---|---|---| |Summary of the main
achievements of the
charity, identifying the
difference the charity’s
work has made to the
circumstances of its
beneficiaries and any
wider benefits to society
as a whole.|Para 1.20|Heritage is a huge resource which
cannot be replaced once it is lost.
The Ironworks has been completely
transformed from a derelict dumping
ground into a community space.
Removal of trees and ivy has stopped
the damage of archaeological remains,
and 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 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. This year the Changemakers Fund gave the Friends a grant which enabled us to purchase a ladder to access the scheduled monuments and to trim vegetation, such as buddleia and ivy, which were growing out of and damaging the walls. This grant also enabled us to construct benches made out of gabions filled with stones and wooden planks on top. These are used by local teachers and pupils studying this historic site, as well as visitors from all over the world and local people attracted by our heritage. The Neath Port Talbot Local Nature Partnership funded us to fill our fencing containers with soil, and then to plant with local wild flowers. We made and put up a bug hotel, bat and bird boxes, and a compost bin. We continued to clear a concrete area which had tipped material and Himalayan Balsam. Guided tours took place, and we had Open Doors days with over 400 visitors in September. However, this was marred by the passing of the Queen. ## **Additional information (optional)** |**Additional information (optional)**|**Additional information (optional)**|**Additional information (optional)**| |---|---|---| |You may choose to include further statements where relevant about:||| |Achievements against
objectives set|Para 1.41|| |Performance of
fundraising activities
against objectives set|Para 1.41|| |Investment performance
against objectives|Para 1.41|| |Other||| ## **Financial Review** |Review of the charity’s
financial position at the
end ofthe period|Para 1.21|Cash at bank on 31/12/2022 was
£12238. The funds are held to cover
operationalcostsinthefuture.| |---|---|---| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|Reserves are held to provide funds for
future liabilities, such as running costs
for 12 months and restricted cash for
grant work. However, this is only to the
extent that the limited resources of the
charity allow, and we are fortunate that
our expenses are low.| |Amount of reservesheld|Para1.22|£12238| |Reasons for holding zero
reserves|Para 1.22|N/A| |Details of fund materially
in deficit|Para 1.24|N/A| |Explanation of any
uncertainties about the
charity continuing as a
going concern|Para 1.23|There are no uncertainties about the
charity continuing.| |**Additional information (optional)**
Youmay choose toincludefurtherstatementswhererelevant about:||| |The charity’s principal
sources of funds
(including any
fundraising)|Para 1.47|Our main source of funding this year
has been grant funding.| |Investment policy and
objectives including any|Para 1.46|**N/A**| |social investment policy
adopted||| |---|---|---| |A description of the
principal risks facing the
charity|Para 1.46|The main risk is the finding of
successors to the trustees. However,
we have found that interest in our work
is growing, and new trustees have
steppedforward.| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing
document
(trust deed, royal charter)|Para 1.25|**Foundation model constitution**| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**CIO**| |Trustee selection
methods including details
of any constitutional
provisions e.g. election to
post or name of any
person or body entitled to
appoint one or more
trustees|Para 1.25|**Eligibility for trusteeship**
a) Every charity trustee must be a
natural person.
b) No one individual may be appointed
as a charity trustee of the CIO:

if he or she is under the age of 16
years; or

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 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
adopted for the induction
and training of trustees|Para 1.51|**Information for new charity trustees**
The charity trustees will make 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
andresponsibilities.| |---|---|---| |The charity’s
organisational structure
and any wider network
with which the charity
works|Para 1.51|| |Relationship with any
related parties|Para 1.51|| |Other||| ## **Reference and Administrative details** |Charityname|TheFriends of Neath AbbeyIronCompany| |---|---| |Other name the charity
uses|| |Registered charity number|**1178391**| |Charity’s principal address|Secretary: PL Richards
Wern Ddu Uchaf Farm
Wernddu Rd
Alltwen
Pontardawe
Swansea
SA8 3JA| ||| ## **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16|**Trustee name**|**Office (if any)**|**Dates acted if not for**
**whole year**|**Name of person (or**
**body) entitled to appoint**
**trustee(if any)**| |---|---|---|---|---| ||Victor Kean
James|Chair||By a properly convened
meeting
of
the
charity
trustees.| ||Stephen Absalom|Vice-Chair|Until 26th January 2022|By a properly convened
meeting of the charity
trustees.| ||Sandra Jane
Morgan|Vice-Chair|Vice-Chair from 26th
January 2022|By a properly convened
meeting of the charity
trustees.| ||Stephen Edmund
Ball|Treasurer||By a properly convened
meeting of the charity
trustees.| ||Peter Richards|Secretary||By a properly convened
meeting of the charity
trustees.| ||Cathryn
Elizabeth Lloyd
Richards|Trustee||By a properly convened
meeting of the charity
trustees.| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| – 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**
**wholeyear**|| |---|---|---| |**N/A **||| |||| |||| |||| |||| |||| ## **Funds held as custodian trustees on behalf of others** Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements N/A for safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** **Type of Name Address adviser** **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** 20.10. 2023 ||**The Friends of Neath Abbey Iron Company**|**The Friends of Neath Abbey Iron Company**|**The Friends of Neath Abbey Iron Company**|1178391|**CC16a**| |---|---|---|---|---|---| ||||||| ||**Receipts andpayments accounts**||||| ||**For the period**
**from**|Period start date|**To**|Period end date|| |||1.1.2022||31.12.2022|| ||||||| |**Section A Receipts and payments**|||||| ||**Unrestricted**
**funds**|**Restricted**
**funds**|**Endowment**
**funds**|**Total funds**|**Last year**| ||**to the nearest**
**£**|**to the nearest £**|**to the nearest £**|**to the nearest £**|**to the nearest £**| |**A1 Receipts**|||||| |Grants|**200**|**10,796**|**-**|**10,996**|| |Donations|**1,733**|**-**|**-**||**410**| |Fundraising||**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| |**_Sub total_**_(Gross income for_
_AR)_|
**1,933**|**10,796**|**-**|**12,729**|**410**| |**A2 Asset and investment sales,**
**(see table).**|||||| ||**-**|**-**|**-**|**-**|| ||**-**|**-**|**-**|**-**|**-**| |**_Sub total_**|**-**|**-**|**-**|**-**|**-**| ||||||| |**_Total receipts_**|**1,933**|**10,796**|**-**|**12,729**|**410**| ||||||| |**A3 Payments**|||||| |Insurance|**252 **|**-**|**-**|**252 **|**133**| |Other|**221**||**-**|**221**|**3,385**| |Repairs and maintenance|**123**|**1,342**|**-**|**1,465**|**9,084 **| ||**-**|**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| ||**-**|**-**|**-**|**-**|**-**| |**_Sub total_ **|**596**|**1,342**|**-**|**1,938**|**12,602**| ||||||| |**A4 Asset and investment**
**purchases, (see table)**|||||| ||**-**|**-**|**-**|**-**|| ||**-**|**-**|**-**|**-**|| |**_Sub total_ **|**-**|**-**|**-**|**-**|**-**| ||||||| |**_Totalpayments_**|**596**|**1,342**|**-**|**1,938**|**12,602**| ||||||| |**_Net of receipts/(payments)_**|**1,337**|**9,454**|**-**|**10,791**|**- 12,192**| |**A5 Transfers between funds**|**-**|**-**|**-**|**-**|**-**| |**A6 Cash funds lastyear end**|**- 584**|**2,031**|**-**|**1,447**|**13,639**| |**_Cash funds thisyear end_**|**753**|**11,485**|**-**|**12,238**|**1,447**| ||||||| ||||||| ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**|**Details**|**Details**|**Unrestricted**
**funds**|**Restricted**
**funds**|**Endowment**
**funds**| |---|---|---|---|---|---| ||||**to nearest £**|**to nearest £**|**to nearest £**| |**B1 Cash funds**|||**753**|**11,485**|**-**| ||||**-**|**-**|**-**| ||||**-**|**-**|**-**| ||**_Total cash funds_**||**753**|**11,485**|**-**| ||(agree balances with receipts and payments
account(s))||OK|OK|OK| ||||**Unrestricted**
**funds**|**Restricted**
**funds**|**Endowment**
**funds**| ||**Details**||**to nearest £**|**to nearest £**|**to nearest £**| |**B2 Other monetary assets**|||**-**|**-**|**-**| ||||**-**|**-**|**-**| ||||**-**|**-**|**-**| ||||**-**|**-**|**-**| ||||**-**|**-**|**-**| ||||**-**|**-**|**-**| ||||||| ||**Details**||**Fund to which**
**asset belongs**|**Cost (optional)**|**Current value**
**(optional)**| |**B3 Investment assets**||||**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| ||||||| ||**Details**||**Fund to which**
**asset belongs**|**Cost (optional)**|**Current value**
**(optional)**| |**B4 Assets retained for the**
**charity’s own use**|Various items of gardening tools and
~~equipment~~||Functional Assets|**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| |||||**-**|**-**| ||||||| ||**Details**||**Fund to which**
**liability relates**|**Amount due**
**(optional)**|**When due**
**(optional)**| |**B5 Liabilities**||||**-**|| |||||**-**|| |||||**-**|| |||||**-**|| |||||**-**|| ||||||| |Signed by one or two trustees on
behalf of all the trustees|Signature||Print|Name|Date of
approval| ||||PL Ric|hards|**20.10.22**| ||||Steph|en Ball|**20.10.22**| yIIBIv.,-- v v I ACCOUNTAN75 The Friends of Neath Abbey Iron Company Financial Ststernents For the Year Ended 31 December 2022 i￿￿0￿￿*..￿￿Othi•jdNDu51.C￿5l1Vw￿￿ M•ththi4JJ aLN The Friend5 of Neath Abbey Iron Company Index Year Ended 31 December 2022 Pa8e Annual Report Independent Examiners Report Financial Ststements The Frlends of Neath Abbey Iron Company Annual Report Year Ended 31 December 2022 ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRVSTEES AND ADVISERS CHARifY REGISTRATION r40. 1178391 ADDRESS Wemddu Uchaf Fami Wemddu Road Alltwen Pontsrdawe Swansea SA8 3JA 8ANKERS Natwest Bank plc 35 Green Street Neaih SAII IDB INDEPENDENT EXAMINER Richar(l N Chapple Bsc IEconl FCCA WBV LlmSted Chartered Attountants The Thir(l Floor Langdon House Langdon Road SAI Swansea Waterfront Swansea SAI 8QY The Frfends of Neath Abbey Iron Cornpany Annual Report Year Ended 31 December 2022 The Frlends ol Neath Abbey Iron Company is re81Stered with the Charlty Commissioners IN0= 11783911 and is a Charitable Incorporated Organi5ation ICIOI governed by the foundatlon model constitution. STrUCTVR4 GOVERNANCE AND WINAGEMENT The Charity is administered bythe officers of the tharity and executive committee comprising:" Trustees CHAIRMAN Mr V Kjarnei VICE CIlAIR￿N Mrs S J Morgan SECRETARY Mr P Riehards TREASURER MrSEBall TRUSTEE Miss C E Uoyd Richards Trustees are appolnted followi￿ elertion by members at general meetings. They are encouraged to attend appropriate external trainin8 events where these will facilitate the undertaking of thelr role. OBJEcfs AND ACTIVITIES The object of the Charity is to.. al Conserve the heritage 51te. bl Provide safe publlc access to all vi51tors. cl Explain the heritsge ol the site through information boards, a website and bilingual guide. dl Encourage tOUri5ts to V151t the slte. èl Provide è venue for a heritagel educational centre to encgurage the study of wodd science. AcHIEVEmE￿r5. PERFORMANCE AND FINANCIAL REVIEW The Charity had a more 5uttessful yèar. Mth General Fund receipts of £1,93312021: £4101 and General Fund net receipts of £1,337,12021'. net payment$1£2,29811. The Charity received grant inwme of £10,996 durlre the year compared to £0 received in 2021 mainly from Swansea University and NPTCBC. The Charity made £1.342 payments from the restricted fund this year. The Charity aims to maintain its level of reserves In future year5 to enable il to effectively undertake the Chaiivs objectives in accordance with the ierms of the Deed of Trust. The Frfends of Neath Abbey Iron Company Annual Report Year Ended 31 December 2022 PUBUC BENEF 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 activitie5. We have referred to the guidance contained in the Charity Commission's 8eneral 8uidance on public benefrt when reviewing our aims arKI objectives and in planning our future ?ctivlties. In partlcular, the Trustees conslder how planned activities will contribute to the aims and objectlves they have set. SIBned For and on behalf of the Trustees Mr P Richards SeCr￿ary Date- f.33 The Friend5 of Neath Abbey Iron Company Independent Examinerfs Report to Frlends of Neath Abbey Iron Company Year Ended 31 December 2022 I report to the charlty trustees on my examinatlon of the accounts of the charity for the year ended 31 December 2022 which are set out on page 5. Responslbllltles and basls of report As the ¢h3rlt¢s trustee5 you are responslble for the preparailon of the accounts in accordarice with the requirements of the Charitie5 Act 20111'the ACY). I report in respect of my examination of the charitrfs accounts carried out under section 145 of the Act and In carrylng out my examlnatlon I have followed all the applicable Dire¢tlons given by the Charity Commission undw section 14515llbl of the Act. Independent examlner's stat•m•nt I have completed my examination. I confirm that no material matters have come to my attention in connÈctlon with the examination giving me cause to belKeve that In any material respect: accountin8 records were not kept in respèct of the charity as requlred by section 130 of the A¢t' or the accounts do not accord wlth those records. I have no concerns and have come auoss no olher matters In connection with the examinatlon to whlch attention should be rawn In thi5 report in order to enable a proper understanding of the accounts to be reached. RICHARD N CHAPPLE BSC IEconl FCCA WBV LIMITED THE THIRD FLOOR LANGDON HOUSE LANGDON ROAD SAI SWANSEA WATERFRONT SWANSEA SAI 8QY 61.2S Date-. The Frlends of Neath Abbey Iron Company Flnanclal Statements Year Ended 31 December 2022 RECEIPTS AND PAYMENTS ACCOUNTIGENEAAL PURPOSES FUNDI 2022 2022 Unrestricted Re51ri¢ied Fund$ Funds 2022 Tth•l Fund5 2011 Totol Funds Intornè Recelpts Grants Donations Fundraising 200 1,733 10,796 10,9% 1,733 410 TOTAL RECEIPTS 1.933 10,796 11729 410 other Expenditurè Insurance Other Repairs & Maintenance 252 221 123 596 252 221 L465 1,938 133 3,385 9.084 12.602 1,342 1.342 Asset Purchases Purchase of functional assets TOTAL PAYMENTS 596 L342 L938 12,602 Net IPaymÈntsll Receiptslor the ye)r Transfer between funds 1,337 9.454 10,791 112,1921 Cash and Bank balances 31 December 2021 15841 2,031 1.447 13,639 Cash and Bank Balances * 31 De¢ember 2022 753 11,485 12,238 1,447 Statèmeni of Assets and Liabitsties 2022 Total Funds 2021 Total Funds CurrentAssets Natwest current Account 12.238 1,447 Assets retalned for ¢harbty use {Funcllonal A55etsl The charity hold5 varlous items of gardening tODls and equipment.