ORIEL MYRDDIN
Charity registra�on number: 1197707
Annual Trustees’ Report and Financial Statements for the period 22 January 2022 to 31 March 2023
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Contents
Trustees’ Annual Report .................................................................... 3 10 Statement of financial activities ........................................................ Balance sheet ................................................................................. 11
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Trustees’ Annual Report
The trustees present their report and the account of the charity for the period 28 January 2022 (when the charity was established) to 31 March 2023.
Charity Name: Oriel Myrddin Charity reg number: 1197707 Registered Address: Oriel Myrddin Gallery, Church Lane, Carmarthen SA31 1LH Solicitors: Hugh James Solicitors, Two Central Square, Cardiff, CF10 1FS
Trustees
Councillor Emlyn Schiavone (Chair) Haf Angharad Jones Leefe (Vice Chair) Councillor Alan Speake (resigned July 2023) Councillor Ken Lloyd (resigned July 2023) Sally Moss Helen Louise Morgan Nigel Roberts Neil Confrey (resigned November 2023) Elaine Joyce Cabuts (appointed on 19 January 2024) Benjamin O’Neill (appointed on 19 January 2024)
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Introduc�on & Context
Oriel Myrddin (Reg. 1197707) is a Charitable Incorporated Organisa�on (CIO). Oriel Myrddin CIO was established in January 2022, with the long-term aim of taking over the opera�ons of Oriel Myrddin Trust, an unincorporated charity (charity registra�on number 1031498) which is currently responsible for Oriel Myrddin Gallery on Church Lane, Carmarthen. The Gallery building is owned by Oriel Myrddin Trust, and held by Carmarthenshire County Council as Custodian Trustee.
In 2020, funding was secured for an ambi�ous capital redevelopment scheme – the redevelopment of the original gallery building and renova�on of 2 empty proper�es on King Street (owned by Carmarthenshire County Council) which will be joined onto the gallery, crea�ng addi�onal spaces for learning and par�cipa�on, and for commercial ac�vity including a shop and café. The capital works will start in 2023/24 with the aim of the Gallery reopening in April 2025.
At the point of reopening, the CIO will take responsibility for the opera�on of the redeveloped Gallery and all associated ac�vity.
Capital funding for the redevelopment has been secured from Carmarthenshire County Council (£2m) and Arts Council Wales (1m). The capital redevelopment is being managed by Carmarthenshire County Council, on behalf of Oriel Myrddin Trust.
Oriel Myrddin Trust receives annual revenue funding from Arts Council Wales and Carmarthenshire County Council. When the Gallery reopens in 2025, the CIO will receive this revenue funding as the opera�onal body.
Objec�ves & Ac�vi�es
The following vision and mission and aims and objec�ves are the same as Oriel Myrddin Trust, and it is these that guide and influence of the two charitable organisa�on in their short and long-term ac�vity.
Vision: We strongly believe in learning through making…
“A world where the value of cra�smanship, skill and ingenuity is appreciated and obtainable by everyone”.
Mission: “To support a crea�ve environment where we can all pursue contemporary ideas through a unique and culturally diverse programme of cra�smanship in its widest defini�on of ar�s�c skill, thought and imagina�on”
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Aims:
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We believe in using the contemporary visual arts as a pla�orm for audiences to engage with big ideas that ques�on the world around them.
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We believe that without ar�sts and ar�s�c ideas, the overall quality of life of our community would be considerably poorer.
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supporters OM inspire communi�es and demonstrates posi�ve social impacts.
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We are commited to making our world a healthier, greener, and more sustainable place to live.
Values:
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To place OM at the centre of contemporary and applied arts, cra� and design development
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To build connec�ons with ar�sts based in Wales, UK and interna�onally by developing and sharing their prac�ce.
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To develop engagement and apprecia�on of contemporary and applied art, cra�, and design among our exis�ng and new audiences, including children and young people, older people and those from socially disadvantaged backgrounds
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pursuit of ar�s�c endeavour by prac��oners
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To secure a viable and sustainable future for OM
To deliver on the vision we have established a series of key objec�ves which are set out below.
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development, by offering exhibi�ons of the highest quality, which celebrate materials and process.
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a. applied art exhibi�ons
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b. To maximise space, access, and resources to provide exemplary exhibi�on experiences
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c. infrastructure of Wales
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To engage with Welsh and interna�onal ar�sts, touring exhibi�ons outside Wales and bringing the highest quality work from the UK and beyond to its communi�es and across Wales
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a. To create rela�onships across Wales and interna�onally with individual ar�sts and ar�st networks.
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b. exhibi�ng work by Welsh and interna�onal ar�sts.
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c. To be a champion and launch-pad for emerging Welsh ar�sts na�onally and interna�onally.
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d. To encourage and invite interna�onal ar�sts to exhibit their work in Wales and engage with communi�es across Wales.
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To educate and engage with a wide variety of communi�es, always with reference to its core exhibi�on programme to raise quality and ambi�on.
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a. To present a programme of talks and events that supports accessibility and interpreta�on.
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b. To provide workshop and learning opportuni�es that develops the skills and understanding of fine and applied art for all ages.
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c. To engage with educa�on and learning ins�tu�ons across the region to experience learning and par�cipatory engagement with ar�sts, exhibi�ons, and contemporary art.
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d. To grow and expand the reach of learning opportuni�es to the community in par�cular young people, elderly and social deprived.
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think, experience and most importantly enjoy.
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a. To provide space, �me, and resources for local ar�sts to meet and network.
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b. To present talks and seminars which challenge and inform.
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c. To provide opportunity for response and feedback in all public spaces.
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d. To be open and accessible to all the community.
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To secure a viable and sustainable future for Oriel Myrddin Gallery
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a. To ensure good governance and management
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b. To maintain and develop rela�onships with CCC and ACW to secure ongoing funding.
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c. To maximise retail, catering, hire and event income.
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d. To diversify income streams by developing entrepreneurial opportuni�es.
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e. and return on investment.
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Structure, Governance & Management
The charity is governed by its Cons�tu�on. The governing body of the charity is the Board of Trustees. The Board of Trustees is responsible for the overall governance of the charity. Trustees are recruited for their exper�se and experience; a skills audit is conducted annually.
The Board currently consists of 7 trustees, which can be increased to a maximum of 12. Trustee appointments are for a term of up to three years and a trustee may ordinarily serve a maximum of two terms. Carmarthenshire County Council can nominate a maximum of 2 trustees. There must be at least 3 trustees at any one �me, with a minimum of 2 independent trustees.
We are ac�vely working on trustee succession planning, to ensure the needs of the organisa�on are met and to enable a Board of diverse skills and backgrounds to be maintained and developed.
The Board meets at least once every quarter. The Board elects a Chair for a term of up to three years, which may be renewed once.
Ac�vi�es in 2022/23
Ac�vity during 2022/23 focused on resolving the legal maters rela�ng to the capital development and the rela�onship between all the key stakeholders, namely Oriel Myrddin Trust and Oriel Myrddin CIO as the charitable bodies responsible for the Gallery, and Carmarthenshire County Council and Arts Council Wales as the funding bodies.
A Heads of Terms agreement has been prepared which outlines the responsibility of each stakeholder, the �meline, and the list of legal agreements that each stakeholder will be required to sign up to at various points in the process, including lease agreements for the proper�es which will make up the redeveloped Gallery. The Heads of Terms were agreed and signed in August 2023.
Oriel Myrddin CIO received independent legal advice from Hugh James Solicitors in rela�on to these legal agreements.
Financial Review
have its own funds or assets, or any sources of income. During 2024, the trustees intend to secure a bank account and appoint independent
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accountants through an open process, in prepara�on for taking over the opera�ons in 2025.
Reserves Policy
The charity does not currently have a reserves policy as it doesn’t have any reserves yet. A policy will be discussed and agreed by the trustees in 2024.
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Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accoun�ng Standards including Financial Repor�ng Standard 102: The Financial Repor�ng Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accoun�ng Prac�ce).
The law applicable to chari�es in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and group and of the income and expenditure of the charity and group for that period. In preparing these financial statements, the trustees are required to:
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select suitable accoun�ng policies and then apply them consistently;
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observe the methods and principles in the Chari�es SORP;
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make judgments and accoun�ng es�mates that are reasonable and prudent;
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state whether applicable UK Accoun�ng Standards have been followed, subject to any material
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inappropriate to presume that the charity will con�nue in business.
disclose with reasonable accuracy at any �me the financial posi�on of the charity and enable them to ensure that the financial statements comply with the Chari�es Act 2011, the Charity (Accounts and Reports) Regula�ons 2008 and the provisions of the cons�tu�on. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es.
This report was approved by the Board of Trustees on 19[th] April 2024 and signed on their behalf by:
Emlyn Schiavone (Chair of the Board of Trustees)
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| Oriel Myrddin | Oriel Myrddin | Oriel Myrddin | 1197707 | |||
|---|---|---|---|---|---|---|
| Annual accounts for theperiod | ||||||
| Period start date | 28/01/2022 | To | Period end date |
31/03/2023 | ||
| Section A | Statement of financial activities | |||||
| Recommended categories by activity Guidance Notes Incoming resources (Note 3) Income and endowments from: Donations and legacies S01 Charitable activities S02 Other trading activities S03 Investments S04 Separate material item of income S05 Other S06 S07 Resources expended (Note 6) Expenditure on: Raising funds S08 Charitable activities S09 Separate material item of expense S10 Other S11 S12 S13 Net gains/(losses) on investments S14 S15 Extraordinary items S16 S17 S18 Other gains/(losses) S19 S20 Reconciliation of funds: S21 S22 1 Total Net movement in funds Total funds brought forward Total funds carried forward Total Net income/(expenditure) before investment gains/(losses) Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 |
|||||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | |||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
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Section B Balance sheet
| Fixed assets Intangible assets Tangible assets Heritage assets Investments Total fixed assets Current assets Stocks Debtors Investments Cash at bank and in hand Total current assets Creditors: amounts falling due within one year Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year Provisions for liabilities Total net assets or liabilities Funds of the Charity Endowment funds Restricted income funds Unrestricted funds Revaluation reserve Total funds Signed by one or two trustees on behalf of all the trustees |
Guidance Notes B01 B02 B03 B04 B05 B06 B07 B08 B09 B10 B11 B12 B13 B14 B15 B16 B17 B18 B19 B20 B21 |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05 |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05 |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05 |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05 |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05 |
|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | 0 | 0 | ||
| 0 | 0 | 0 | ||||
| 0 | 0 | 0 | ||||
| 0 | 0 | 0 | ||||
| 0 | ||||||
| 0 | 0 | 0 | 0 | 0 | ||
| Signature | Print Name | Date of approval dd/mm/yyyy |
||||
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