Trustees’ Annual Report for the period
From 1 January 2024 to 31 December 2024
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. This work has been curtailed recently due to lack of insurance. |
| 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 wayto activelyimprove 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. In February, our insurance for working on the site provided by Keep Wales Tidy expired, Due to the dangers of working on the site due to falling masonry, we were unable to obtain new insurance cover. This meant that we are no longer able to access or work on the site, with the resultant cessation of our practical activities. We, hoverer, still continue to lobby for and work towards the restoration of the site.
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 31/12/2024 was £6622. 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 ourexpenses arelow. |
| Amount of reserves held | Para 1.22 | £6622 |
| 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 at present. |
| 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 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
| 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 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. |
||
| Sandra Jane Morgan |
Vice-Chair | 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 |
Treasurer | 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 17.9.2025
and return thls £> wbv copy Chartered Accountants OFFICE COPY The Friends of Neath Abbey Iron Company Flnanclal Statements For the Year Ended 31 December 2024 WitknwBrntheld&Co. ndWW•rtrLdlThiMwtslW&¥LlMitod.4plnYWdinEr411r&waknpOllso66J steTEdCfflce w•1do.¢$tknv1Ilk. Me&ihUII 3LN D¢t?ilsof¢uradni Wl¥lrntwJn¢&nbiYwMWwWIvitrlStII.QT ukUnd•rrfwrthnuThknr(w2565
The Friends of Neath Abbey Iron Company Index Year Ended 31 December 2024 Annual Report Independent Examiners Report Flnanclal Statements
The Friends of Neath Abbey Iron Company Annual Report Year Ended 31 December 2024 ADMINISTrAnvE DETAIiS OFTHE CHARITY, ITS TRUSTEES AND ADVISERS CHARITY REGisfRATION IK). 1178391 ADDRESS Wernddu Uchaf Farm Wernddu Road Alltwen Pontardawe Swansea SA8 3JA BANKERS Natwest Bank pl¢ 35 Green Street Neath SAII IDB INDEPENDENT EXAMINER Richard N Chapple Bsc (Econl FCCA WBV Limlted Chartered A¢countants The Third Floor Langdon House Langdon Road SAI Swansea Waterfront Swansea SA18QY
The Friends of Neath Abbey Iron Company Annual Report Year Ended 31 December 2024 The Frlends of Neath Abbey Iron Company Is re855tered wilh the Charity Commissioners INO.. 11783911 and is a Charitable Incorporated Organisation ICIOI Boverned by the foundation model constitution. srRucfuRE, GOVERNANCE AND MANA6EME14T The Charily is administered by the officers of the charity and executive Committee comprising:. Trustees CHAIRMAN MrVKlames VICE CHAIRMAN MrsSI Morgan SEcRARy Mr P Rlthards TREASURER Miss C E Lloyd Richards Trustees are appointed followin8 elertion by member5 at 8eneral meetings. They are encoura8ed to attend appropriale external trainin8 events where these will facilltate the undertaklng of thelr role. OBJEcf5 AND ACTIVfflES The oblert of the Charity is to.. al Conserve the heritage site. bl Provide safe public acce55 to all visitors. cl Explain the heritage of the site throu8h information board5, a website and bilingual guide. dl Encoura8e tourists to visit the sSte. el Provide a venue for a heritage/ educatlonal ntre to encourage the study of world science. ACHIEVEMEfrJTS. PERFORMANCE AND FINANCIAL REVIEW The Charity had a le55 successful year. with General Fund receipts of £IOO12023.. £6011 and General Fund net recelpts of £86, 12022: net payments l£1,1241. The CharSty received grant income of £16,993 during the year compared to £8,429 recelved In 2023 from NPTCBC. The Charity made £21,7SO payments from the Testrlcted fund this year. The Charity aims to maintain its level of reserves In future years to enable it to effectNely undertake the Chariws objecrlves In accordance with the terms of the Deed of Trust.
The Friends ol Neath Abbey Iron Company Annual Report Year Ended 31 December 2024 PLIBLIC BENEFrr The Trustees are aware of thelr responsibilltles In ensuring that the Charlty delivers identifiable benefits to the public in accord with established objectwes and permitted activities. We have referred to the guidan contained in the Charily Comrnission's general Buldance on public benefit whèn rèvlewing our aims and objectives and in planning our future activitie5. In particular, Ihe Trustees conslder how planned activities will contribute to the aims and objectives they have set. FL?I,a dg 5iÈned For and on behalf of the Trnstees Mr P Rlchards Secretary Date:
The Friends of Neath Abbey Iron Company Independent Examinerfs Report to Friends of Neath Abbey Iron Companv Year Ended 31 December 2024 I report to the charity trustee5 on my examination of the accounts of the charity for the year ended 31 December 2024 whlch are Set out on pa8e 5. Responslbllltles and ba$ of report As the charivs trustees you are responsible for the preparation of the accounts in attordance wtth ihe requlrements of the Charitie5 Art 20111'the ACYI. I report in respect of my examlnation of the charlty's accounts carried out under se¢tlon 145 of the Act and In carrylng out my examlnatlon I have followed all the appllcable D1ctionS given by the Charlty Commission under sectlon 14515Hbl of the A¢L Independent examlner's statement I have completed rny examirtation. l 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.. accountlng records were not kepi In respect of the charlty as requlred by sertlon 130 of the Act; or the accounts do not a¢¢ord with those records. I have no Concerns and have come across no other matters in connection with the examination to whith attÈAtion should be drawn in thi5 report in order to enable a proper understsnding of the accounts to be reached. RICHARD N CFV4PPLE 6S¢ IE¢onl FCCA WBV LIMITED THE THIRD FLOOR LANGDON HOUSE LANGDON ROAD SAI SWANSEA WATERFRONT SWANSEA SAI 8QY Date:
The Friends of Neath Abbey Iron Company Financlal Statements Year Ended 31 December 2024 RECEIPTS AND PAYfvIENTS ACCOUNT (GENERAL PURPOSES FUNDI 20Z4 Restrlrted Funds 2024 Total Fund5 2023 Vnrestrlcted Funds Total Funds Income Receipts Grants Donations Fundraising 16,993 16,993 100 8,429 601 100 TOTAL RECEIPTS 100 16,993 17.093 9.030 Other Expendltur• Insurance Other Repairs & Maintenance 308 516 9,151 9.975 14 14 21,750 21,764 21,750 21,750 14 Asset Purchases Purchase of functional assets TOTAL PAYMENTS 14 21,750 21.764 9.975 Net IPayments11 Receipts forthe yéar Transfer between funds 86 14.757 14,6711 19451 Cash and Bank balances 31 Dember 2023 13711 11,664 11,293 12,238 Cash and Bank Balances at 31 De¢ember 2024 12851 6,907 6.622 11,293 ststement ol Assets and Uabllltle5 2024 Total Funds 2023 Total Fund5 Natwest current Account 6,622 11.293 Assets Tetained for charSty use (Functional A55ets) The charity holds variou5 Iterns of 8ardenin8 t¢x)Is 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 1.1.2024 31.12.2024
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 16,993 - 16,993 8,429
Donations 100 - - 601
Fund raising - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
AR) [ 100 ] 16,993 - 17,093 9,030
A2 Asset and investment sales,
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts 100 16,993 - 17,093 9,030
A3 Payments
Insurance - - - - 308
Other 14 21,750 - 21,764 516
Repairs and maintenance - - - - 9,151
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total [ 14 ] 21,750 - 21,764 9,975
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - - -
Total payments [ 14 ] 21,750 - 21,764 9,975
Net of receipts/(payments) 86 - 4,757 - - 4,671 - 945
A5 Transfers between funds - - - - -
A6 Cash funds last year end - 371 11,664 - 11,293 1,447
Cash funds this year end - 285 6,907 - 6,622 11,293
----- End of picture text -----
CCXX R1 accounts (SS)
21/09/2025
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 £ -285 6,907 - - - - - 285 6,907 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 17.9.25 17.9.25 |
CCXX R2 accounts (SS)
21/09/2025
2