## **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** **----- Start of picture text -----**
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|| |---|---|---| |Policy on grant making|Para 1.38|**N/A**| **----- Start of picture text -----**
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
**----- End of picture text -----**
## **Achievements and Performance** **----- Start of picture text -----**
SORP
reference
**----- End of picture text -----**
|SORP
reference|SORP
reference|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. 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.| |---|---|---| |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.| |---|---|---| |Other||| ## **Structure, Governance and Management** **----- Start of picture text -----**
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)
**----- End of picture text -----**
|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:| |---|---|---| **----- Start of picture text -----**
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
**----- End of picture text -----**
## **Reference and Administrative details** **----- Start of picture text -----**
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
**----- End of picture text -----**
## **Names of the charity trustees who manage the charity** **----- Start of picture text -----**
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
**----- End of picture text -----**
## – 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 **----- Start of picture text -----**
Trustee name Dates acted if not for
whole year
N/A
**----- End of picture text -----**
## **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•KIH￿I￿¢4S1IeWaI¥mIath$￿lx3LN t￿￿kUr￿￿￿￿￿￿•fi￿￿￿rcO025SSas9 The Friends of Neath Abbey Iron Company Index Year Ended 31 December 2023 Annual Report Independent Examiners Report Flnancial Statements The Frlends of Neath Abbey Iron Company Annual Report Year Ended 31 December 2023 ADMif41STRATIVE DETAILS OF THE CHARITY, ITS TRUSFEES AND ADVISERS CHARITY REGISTRATION NO. 1178391 ADDRESS Wernddu Uchaf Fami Wernddu Road Alltwen Pontardawe Swansea SA8 3JA BANKERS Natwest Bank plc 35 Green Street Neath SAII IDB INDEPENDEKf EXAMINER Rlchard N Chapple BS¢ IEconl FCCA WBV Limited Chartered Accountants The Third Floor ian@don House Langdon Road SAI Swansea Waterfront Swansea SAI 8QY The Friends of Neath Abbey Iron Company Annual Report Year Ended 31 December 2023 The Friend5 of Neath Abbey Iron Company is re8iStered wlth the Charity Commissioners (No.. 11783911 and Is a Charitable Incorporated Organisation ICIOI Boverned by the foundation model constitution. sTrucruRE, GOVERNANCE AND MANAGEMEf4T The Charlty Is admlnlstered by the officers of the chartty and exe¢utive committee comprlslng'.- Trustees CHAIRMAN Mr V K James VICE CHAIRMAN Mrs S J Morgan SECR￿A￿v Mr P Richards TrEASURER Mr S E Ball (Resigned May 20231 TrUSTEE Miss C E Lloyd Richards Trustees arÈ appointed following election by members at Beneral meetings. They are encouraged to attend approprlate external traininB events where these wlll facilttate the un(Jertaklng of their role. OBJEcfs AND AcfiviTIES The object of the Charity is to.. al Conserve the herltage site. bl Provide safe public access to all visitors. cl Explain the hèrltage of the site throu8h infomiation boards. a website and bilingual guide. dl Encourage tourists to visit the 51te. el Provide a venue for a herltagel educational centre to encourage the study of world Science. ACHIEVEME1￿$, 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 oblert￿Ve5 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 R￿Ipts 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. **----- Start of picture text -----**
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
**----- End of picture text -----**
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