Trustees’ Annual Report for the period
From 1 January 2022 to 31 December 2023
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 purposes Para 1.17 The objects of the CIO are:
of the charity as set out in (1) To preserve, restore and maintain
its governing document 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
and its environs.
Summary of the main Para 1.17 We preserve for the public's benefit the
activities in relation to and 1.19 historic structure and environs of Neath
those purposes for the Abbey ironworks, Neath Abbey, south
public benefit, in Wales. This involves vegetation control
particular, the activities, and conservation work.
projects or services We advance the public's education
identified in 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 had
whether the trustees have regard to the Charity Commission’s
had regard to the guidance on public benefit when
guidance issued by the planning our activities.
Charity Commission on
public benefit
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Additional information (optional) You may choose to include further statements where relevant about:
| SORP reference |
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|---|---|---|
| Policy on grant making | Para 1.38 | N/A |
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Policy on social Para 1.38 N/A
investment including
program related
investment
Contribution made by Para 1.38 The achievements of the charity would
volunteers 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
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| SORP reference |
SORP reference |
SORP reference |
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| 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. Two of our Trustees underwent training on a strimmer and brush cutter. Grant funding enabled us to run an archaeological investigation in an Ironworker’s cottage in April and October. Local children and schoolchildren were involved in the dig. We raised funds to pay for a contractor to clear the scheduled monuments of vegetation and a to undertake a short structural survey. We continue to provide food and hot drinks for our volunteers on a site which has no running water, electricity or proper toilet facilities, and fed the children and volunteers on our dig. We continued to clear a concrete area which had tipped material and Himalayan Balsam. Guided tours and lectures took place, and we had Open Doors days with over 200 visitors in September. Numbers were down due to the awful weather.
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
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 of the period |
Para 1.21 | Cash at bank on 31/12/2023 was £11293. The funds are held to cover operational costs in the future. |
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| 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 reserves held | Para 1.22 | £11293 |
| 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) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant 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 social investment policy adopted |
Para 1.46 | N/A |
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant 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 social investment policy adopted |
Para 1.46 | N/A |
| A description of the principal risks facing the charity |
Para 1.46 | The main risk is the finding of successors to the trustees. Due to the site’s liabilities, we find difficulty in finding new trustees. |
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| Other |
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)
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| Description of charity’s trusts: |
Description of charity’s trusts: |
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: |
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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 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 number 1178391
Charity’s principal address Secretary: PL Richards
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 for
Trustee name Office (if any) body) entitled to appoint
whole year
trustee (if any)
Victor Kean Chair By a properly convened
James meeting of the charity
1
trustees.
Sandra Jane Vice-Chair By a properly convened
2 Morgan meeting of the charity
trustees.
Stephen Edmund Treasurer Until May 2023, when By a properly convened
3 Ball he resigned, and left meeting of the charity
the area. trustees.
Peter Richards Secretary By a properly convened
4 meeting of the charity
trustees.
Cathryn Trustee Took up treasurer’s By a properly convened
5 Elizabeth Lloyd role from May, 2023. meeting of the charity
Richards trustees.
6
7
8
9
10
11
12
13
14
15
16
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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
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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 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 5.9.2024
CHhRTEREO AccouHfANTS & BL151NESS AOVISE115 vv iJJi v The Frfends of Neath Abbey Iron Company Flnancial Statements For the Year Ended 31 December 2023 R•wrt•rndOt1k4."Woodfj•KIHI¢4S1IeWaI¥mIath$lx3LN tkUr•fircO025SSas9
The Friends of Neath Abbey Iron Company Index Year Ended 31 December 2023 Annual Report Independent Examiners Report Flnancial Statements
The Frlends of Neath Abbey Iron Company Annual Report Year Ended 31 December 2023 ADMif41STRATIVE DETAILS OF THE CHARITY, ITS TRUSFEES AND ADVISERS CHARITY REGISTRATION NO. 1178391 ADDRESS Wernddu Uchaf Fami Wernddu Road Alltwen Pontardawe Swansea SA8 3JA BANKERS Natwest Bank plc 35 Green Street Neath SAII IDB INDEPENDEKf EXAMINER Rlchard N Chapple BS¢ IEconl FCCA WBV Limited Chartered Accountants The Third Floor ian@don House Langdon Road SAI Swansea Waterfront Swansea SAI 8QY
The Friends of Neath Abbey Iron Company Annual Report Year Ended 31 December 2023 The Friend5 of Neath Abbey Iron Company is re8iStered wlth the Charity Commissioners (No.. 11783911 and Is a Charitable Incorporated Organisation ICIOI Boverned by the foundation model constitution. sTrucruRE, GOVERNANCE AND MANAGEMEf4T The Charlty Is admlnlstered by the officers of the chartty and exe¢utive committee comprlslng'.- Trustees CHAIRMAN Mr V K James VICE CHAIRMAN Mrs S J Morgan SECRAv Mr P Richards TrEASURER Mr S E Ball (Resigned May 20231 TrUSTEE Miss C E Lloyd Richards Trustees arÈ appointed following election by members at Beneral meetings. They are encouraged to attend approprlate external traininB events where these wlll facilttate the un(Jertaklng of their role. OBJEcfs AND AcfiviTIES The object of the Charity is to.. al Conserve the herltage site. bl Provide safe public access to all visitors. cl Explain the hèrltage of the site throu8h infomiation boards. a website and bilingual guide. dl Encourage tourists to visit the 51te. el Provide a venue for a herltagel educational centre to encourage the study of world Science. ACHIEVEME1$, PERFORMANCE AND FINANCIAL REVIEW The Charlty had a le55 successfvl year. wlth General Fund receipts of £60112022.. £1,933) and General Fund net payments of £1.124.12022= net receipts l£1,3371. The Charity received grant income of £8,429 during thè year tompared to £10,996 received In 2022 mainly from NPTCBC. The Charity made £8,250 payments from the restricted fund this year. The Charlty alms to maintaln Its level of re5er¥es in future years to enable It to effectlvely undertake the Charlty's objectlves in accordance with the terms of the Deed of Trust.
The Frlends of Neath Abbey Iron Company Annual Report Year Ended 31 December 2023 PUBLIC BENEF The Trustees are aware of thelr responsibilities in Ènsuring that the Charity delivers Identifiable benefits to the public in accord with established objeclives and perrnitted activities. We have referred io the guidance contained in the Charity Commission's 8eneral guidance on public beneflt when reviewing our aims and objectlves and In planning our future activities. In particular. the Trustees consider how planned aciivities will ¢oThtribule to the alms and oblertVe5 they have set. Signed For and on behalf of the Trustees PL.PLL a) Mr P Rlchards Secretary Date: 210512024
The Friends of Neath Abbey Iron Companv Independent Examlnerfs Report to Friends of Neath Abbey Iron Compary Year Ended 310ecember 2023 I report to the charity trustees on my examination of the accounts of the charlty for the year ended 31 December 2022 whlch are set out on page 5. Responslbllltle5 and basls of report As the charltVs trustees you are responsible for the preparation of the accounts In accor(Jance with the requlrements of the Charltles Aci 20111.the ACVI. I report in respect of my examination of the chafiws accounts carried out under sectlon 145 of ihe kt and In carrylng oul my examination I have followed all the applicable Dlrections 8lven by the ChaTIty Commlsslon under sectlon 14515llbl of the Independent examiner's statement I have completed my examlnatlon. l confirm that no materlal matters have come to my attention In connectlon wlth the examination giving me cause to believe that in any materlal respeet.. accounting records werè not kept In respea of the charity as requlred by sertion 130 of the Act,. or the accounts do not accord with those records. I have no concerns and have come across no other matters in connertion with the examinatlon lo whlch attention should be drawn In thls report in order to enable a proper understanding of thè accounts to be reathed. RICHARD N CHAPPLE BSC (Econl FCCA WBV LIMITED THE THIRD FLOOR LANGDON HOUSE LANGDON ROAD SAI SWANSEA WATERFRONT SWANSEA SAI 8QY Date..
The Frlend5 Qf Neath Abbey Iron Companv Flnanclal Statements Year Ended 31 December 2023 RECEIPTS AND PAYMENTS ACCOUNT IGEIIERAL PURPOSES FUNDI 2023 Z023 Unrestricted Restricted Funds Funds 2023 Total Funds 2022 Total Funds Income RKelpts Grants Donations Fundraising 8,429 8,429 601 10,996 1,733 601 TOTAL RECEIP 601 8,429 9,030 12,729 Other Expenditure Insufance other Repairs & Maintenance 308 516 9,151 9.975 252 221 1,465 1,938 516 901 1,725 8,250 8,250 Asset Purchases Purchase of functional assets TOTAL PAYMENTS 1,725 8,2SO 9,975 1.938 Net (Paymentsll RIpts for thè year Transfer between funds 11,1241 179 19451 10.791 Cash and Bank balance$ 31 December 2022 753 11,485 12,238 1,447 Cash and Bank Balance5 at 31 December 2023 13711 11,664 11,293 12,238 Statement Assets and Llabllltle5 2023 Total Funds 2022 Total Funds Current Assets Natwest current Account 11,293 12,238 Assets retalned lor ¢harlty use (Funrtlonal Assets) The charlty holds varlous Items of 83rdenin8 tools and equipment.
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The Friends of Neath Abbey Iron Company 1178391
Receipts and payments accounts CC16a
For the period Period start date Period end date
To
from 1.1.2023 31.12.2023
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
Grants 8,429 - 8,429 10,996
Donations 601 - - 1,733
Fund raising - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
AR) [ 601 ] 8,429 - 9,030 12,729
A2 Asset and investment sales,
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts 601 8,429 - 9,030 12,729
A3 Payments
Insurance 308 - - 308 252
Other 516 - 516 221
Repairs and maintenance 901 8,250 - 9,151 1,465
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total [ 1,725 ] 8,250 - 9,975 1,938
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - - -
Total payments [ 1,725 ] 8,250 - 9,975 1,938
Net of receipts/(payments) - 1,124 179 - - 945 10,791
A5 Transfers between funds - - - - -
A6 Cash funds last year end 753 11,485 - 12,238 1,447
Cash funds this year end - 371 11,664 - 11,293 12,238
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CCXX R1 accounts (SS)
06/09/2024
1
| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | |
|---|---|---|---|
| Categories Signed by one or two trustees on behalf of all the trustees B1 Cash funds B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets |
Signature Details Details Various items of gardening tools and equipment. Details Details Total cash funds (agree balances with receipts and payments account(s)) Details |
Unrestricted funds Restricted funds to nearest £ to nearest £ -371 11,664 - - - - - 371 11,664 OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) Functional Assets - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name PL Richards CEL Richards |
Endowment funds to nearest £ - - - |
| - | |||
| OK | |||
| Endowment funds to nearest £ - - - - - - Current value (optional) - - - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval 2.5.24 2.5.24 |
CCXX R2 accounts (SS)
06/09/2024
2