| Contents: | Page | |
|---|---|---|
| Annual Report |
||
| Preliminary | 3 | |
| Mission Statement ofthe Trust | 3 | |
| Curator's Report |
3-5 | |
| Visitor &User Figures 2021-22 | 6 | |
| Report ofthe Trustees | ||
| Financial Review |
7 | |
| Risk Management &Reserves Policy |
7 | |
| Structure, Governance &Management |
8 | |
| Reference &Administrative information |
9 | |
| Responsibilities ofTrustees in relation tothe Financial Statements |
10 | |
| Related Party Transactions | 10 | |
| Independent Examiner's Report tothe Trustees |
11 | |
| Statement of Financial Activities to year ended 31March 2022 | 12 | |
| Balance Sheet | 13 | |
| Notes tothe Accounts for the year ended 31March 2022 | 14-24 | |
| Chartered Accountant's Report |
25 | |
| Appendices | ||
| A. Donations &Grants, Supporters |
&Partners | 26 |
| B. Additions tothe Trust's collections 2021-22 | 26 |
| April 2021: | 94,344 | October2021: | 78,178 |
|---|---|---|---|
| May 2021: | 113,999 | November 2021: | 94,155 |
| June 2021: | 95,359 | December 2021: | 84,499 |
| July 2021: | 92,278 | January 2022: | 84,540 |
| August 2021: | 65,005 | February 2022: | |
| September 2021: | 71,099 | March 2022: |
| Articles ofAsso | Articles ofAsso | ci | ation. | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| The Nominated |
Members | listed | (below) are selected by their respective |
local | authorities | or | ||||
| community | councils. | |||||||||
| The Appointed | Members | are appointed at the Annual General Meeting of |
the Trust, | while the | ||||||
| Executive Board | co-opts Members | during the year from those showing an interest |
in the museum. | |||||||
| Honorary positions, Officers and | Members ofthe Executive Board ofTrustees | |||||||||
| President: | Rt Hon Lord Paul Murphy ofTorfaen | |||||||||
| Vice Presidents: | Lord Touhig of Islwyn &Glansychan | |||||||||
| Ms Lynn Neagle AM | ||||||||||
| Rt Hon Nick Thomas-Symonds MP |
||||||||||
| Chairperson: | Mr G Ivor Davies MBE (ex-Officio) (ToJanuary | 2022) | ||||||||
| Mr Geoffrey Sandercock (From January 2022) |
||||||||||
| Vice-Chairperson: | vacancy | |||||||||
| Hon Treasurer | g CoSec: | Mr Lyndon Bishop (ex-Officio) (ToOctober | 2021) | |||||||
| Cllr Colin Crick (From October 2021) | ||||||||||
| Ms Susan Morgan (From October 2021) | ||||||||||
| Nominated | Members: | Cllr Anthony Bird (Cwmbran CC); |
||||||||
| Cllr Gwyn Jenkins & Cllr Neil Waite (Torfaen CBC); | ||||||||||
| Cllr Richard Clark (Croesyceiliog &Llanyrafon | CC); | |||||||||
| Cllr Keith James (Pontypool CC); |
||||||||||
| vacant all year (Ponthir CC); |
||||||||||
| vacant all year (Henllys CC); |
||||||||||
| Cllr Gareth McCann (Blaenavon Town Council) | ||||||||||
| Appointed | Members: | Professor Ray Howell; Retired District Judge Geoffrey Sandercock; | ||||||||
| Ms SueJohnson; DrJack Hanbury-Tenison; |
His | Honour Judge David | ||||||||
| Morris; Cllr Colin Crick | ||||||||||
| Co-opted | Members: | Cllr Lewis Evans, vacancies x 2 |
||||||||
| Registered | Ofhce: | Park Buildings, Pontypool, Torfaen NP4 |
6JH | |||||||
| Independent | Examiners: | Azets Audit Services, Cardiff | ||||||||
| Bankers: | Barclays Bank PLC, PO Box19,Cwmbran |
| Total | Total | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | funds | funds | ||||
| Note | funds | funds | 2022 | 2021 | |||
| E | E | ||||||
| Income and endowments | from: | ||||||
| Donations and legacies |
540 | 540 | 2,506 | ||||
| Charitable activities |
74,119 | 259 | 74,378 | 174,621 | |||
| Other trading activities | 7,170 | 7,170 | 1,093 | ||||
| Investments | 4 | 4 | 54 | ||||
| Other income | 1,157 | 1,157 | 1,800 | ||||
| Total income and endowments | 82,990 | 259 | 83,249 | 180,074 | |||
| Expenditure on: |
|||||||
| Raising funds | 7 | 1,059 | 1,059 | 612 | |||
| Charitable activities |
8 | 126,476 | 5,113 | 131,589 | 124,585 | ||
| Total expenditure | 127,535 | 5,113 | 132,648 | 125,197 | |||
| Net income/(expenditure) | (44,545) | (4,854) | (49,399) | 54,877 | |||
| Transfers between |
funds | ||||||
| Net movement in funds |
(44,545) | (4,854) | (49,399) | 54,877 | |||
| Reconciliation ofFunds | |||||||
| Total funds brought | forward | 14,15 | 159,387 | 18,484 | 177,871 | 122,994 | |
| Totalfunds carried | forward | 15,16 | 114,842 | 13,630 | 128,472 | 177,871 |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds f |
fundsf | 2022 f |
2021 f |
|||
| Miscellaneous Donations |
2,506 | |||||
| 540 | 2,506 | |||||
| NCOME FROM CHARITABLE ACTIVITIES | ||||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | 2022 | 2021 | |||
| f | f | f | f | |||
| Grants | ||||||
| Torfaen County Borough | Council | 60,980 | 60,980 | 63,650 | ||
| Covid 19Business Support Grant | 45,000 | |||||
| Croesyceiliog & Llanyrafon | ||||||
| Community Council |
1,000 | 1,000 | 1,000 | |||
| Pontypool Community |
Council | 3,900 | 3,900 | 3,450 | ||
| Cwmbran Community |
Council | 4,300 | 4,300 | 4,200 | ||
| Welsh Government Recovery |
||||||
| Grant | (4,000) | (4,000) | ||||
| Fundraising Income |
2+54 | 2,854 | ||||
| Restricted Grants | ||||||
| Welsh Government (MALD) |
43,012 | |||||
| Federation of Museums | & | |||||
| Galleries Wales | 259 | 259 | 10,634 | |||
| Association of Independent | ||||||
| Muse ums | 1,558 | 1,558 | ||||
| The Federation ofT&C | 585 | 585 | ||||
| Subscriptions | 2,942 | 2,942 | 3,675 | |||
| 74,119 | 259 | 74,378 | 174,621 | |||
| NCOME FROM OTHER | TRADING | ACTIVITIES | ||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | 2022 | 2021 | |||
| f | f | f | f | |||
| Commission on Art Sales |
1,003 | 1,003 | 129 | |||
| Trading and Publications | -Sales | 2g44 | 2,844 | 964 | ||
| Admissions | 3s323 | 3,323 | ||||
| 7,170 | 7,170 | 1,093 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | 2022 | 2021 | |
| f | f | E | ||
| Bank interest | 54 | |||
| 54 | ||||
| NCOME FROM OTHER SOURCES | ||||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | 2022 | 2021 | |
| f | f | f | f | |
| Sundry Income | 804 | 1,030 | ||
| Site Income | 770 | |||
| Parking Permit | 213 | 213 | ||
| Room Hire | 140 | 140 | ||
| 1,157 | 1s157 | 1,800 | ||
| EXPENDITURE ON RAISING FUNDS | ||||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | 2022 | 2021 | |
| E | f | f | ||
| Shop costs | 1,059 | 1,059 | 612 | |
| 1,059 | 1,059 | 612 |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | 2022 | 2021 | ||||
| f | f | f | f | ||||
| Direct Costs | |||||||
| Salaries, Nl |
87,794 | 946 | 88,740 | 53,585 | |||
| Bookkeeping | 2,725 | ||||||
| Training | 650 | 650 | |||||
| Temporary Exhibitions |
845 | 845 | 229 | ||||
| Supplies and Equipment | 1,511 | ||||||
| Federation of | Museums | &Galleries | |||||
| Wales | 11,234 | ||||||
| Association of Independent | |||||||
| Museums | 4,100 | ||||||
| Acquisitions | |||||||
| Total direct costs | 89,289 | 946 | 90,235 | 73,384 | |||
| Indirect Costs | |||||||
| Energy | 1,868 | 1,868 | 4,265 | ||||
| Rates | (203) | (203) | |||||
| Telephone and |
Postage | 3,402 | 3,402 | 2,825 | |||
| Printing and Stationery | 1,623 | 1,623 | 3,382 | ||||
| Maintenance | 6,710 | 6,710 | 16,009 | ||||
| Cleaning | 639 | 639 | 1,250 | ||||
| Security | 1,895 | 1,895 | 1,387 | ||||
| Website Development | 737 | 737 | 21 | ||||
| Subscriptions | 461 | 461 | 208 | ||||
| Insurance | 2r907 | 2,907 | 3,078 | ||||
| Miscellaneous | Expenses | 1,973 | 1,973 | 2,006 | |||
| Bank Charges | 512 | 512 | 395 | ||||
| Depreciation | 9,491 | 9,491 | 13,775 | ||||
| Independent | examination | and | |||||
| accountancy | fees | 4,472 | 4,472 | 2,600 | |||
| Irrecoverable | VAT | 700 | 700 | ||||
| Consulting/Marketing | 4,167 | 4,167 | |||||
| Total indirect | costs | 37,187 | 4,167 | 41,354 | 51,201 | ||
| Total | 126,476 | 5,113 | 131,589 | 124,585 |
| . STAFF COSTS |
||
|---|---|---|
| 2022 | 2021 | |
| E | ||
| Wages &salaries | 85,187 | 52,904 |
| Social security costs | 1,263 | |
| Pension costs | 1,343 | 681 |
| 87,793 | 53,585 |
| Total | Total | |
|---|---|---|
| 2022 | 2021 | |
| No | No | |
| Full time | 1.0 | 1.0 |
| Part time | 8.3 | 8.0 |
| Total full time equivalents | 2.4 | 3.1 |
| Total | Total | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| E | E | |||
| Independent | examination | fee | 2,600 | 2,600 |
| Accountancy | fees | 1,872 | ||
| 4,472 | 2,600 |
| 11. | TANGIBLE FIXEDAS | SET | S | |||
|---|---|---|---|---|---|---|
| Computer | Office | |||||
| Equipment | Equipment | Furniture | Totals | |||
| f | f | f | ||||
| Cost | ||||||
| At 1April 2021 | 565,077 | 8,257 | 118,818 | 692,152 | ||
| At31March 2022 | 565,077 | 8,257 | 118,818 | 692,152 | ||
| Depreciation | ||||||
| At 1April 2021 | 479,657 | 8,257 | 118,818 | 606,733 | ||
| Charge for year | 9,491 | 9,491 | ||||
| At31March 2022 | 489,148 | 8,257 | 118,818 | 616,224 | ||
| Net BookValue | ||||||
| At31March 2022 | 75,928 | 75,928 | ||||
| At31March 2021 | 85,420 | 85,419 | ||||
| 12. | DEBTORS | |||||
| 2022f | 2021 f |
|||||
| VAT | 491 | 1,144 | ||||
| Other debtors | 3,803 | |||||
| P repayments | 1,397 | 1,642 | ||||
| 5,691 | 2,786 | |||||
| 13. | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE | YEAR | |||
| 2022 | 2021 | |||||
| f | ||||||
| Trade and other creditors | 3,437 | 1,496 | ||||
| Accruals gt deferred |
income | 1,779 | 1,732 | |||
| 5,216 | 3,228 |
| At | At | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1April | 31March | ||||||||||||||
| 2021 f |
Income f |
Expenditure f |
Transfers f |
2022 f |
|||||||||||
| Accessions | and Development | ||||||||||||||
| Fund | 321 | 321 | |||||||||||||
| Covid Grant | Welsh | ||||||||||||||
| Government (MALD) |
19,971 | (5,113) | 14,858 | ||||||||||||
| Association | of Independent | ||||||||||||||
| Museums | ~(1808 | rtr | (1,549) | ||||||||||||
| 18,484 | 259 | (5,113) | 13,630 | ||||||||||||
| ccessions and Development | Fund: | This is used | to | fund the | acquisition of artefacts and |
to provide | |||||||||
| atch funding for grant-aided | projects | ||||||||||||||
| ultural Resilience Ih Recovery |
Grants: | These grants | were given | by | the Welsh Government | Museums, | |||||||||
| rchives and | Libraries Division |
(MALD) | to assist the recovery | from | the pandemic | ||||||||||
| ssociation | of Independent | Museum | (AIM): AIM | gives | grants | for various | museum | Projects | & | ||||||
| rocedures | including governance |
and | sustainability | for up toc.f5,000 | |||||||||||
| At | At | ||||||||||||||
| 1April | 31March | ||||||||||||||
| 2021 | Income | Expenditure | Transfers | 2021 | |||||||||||
| f | f | f | f | f | |||||||||||
| Accessions | and Development | ||||||||||||||
| Fund | 321 | 321 | |||||||||||||
| Covid Grant Welsh | |||||||||||||||
| Government (MALD) |
43,012 | (24,136) | 1,095 | 19,971 | |||||||||||
| Association | of Independent | ||||||||||||||
| Museums | 2,052 | (4,100) | 240 | (1,808) | |||||||||||
| Federation | small grants | 10,634 | (11,234) | 600 | |||||||||||
| 2,373 | 53,646 | (39,470) | 1,935 | 18,484 |
| At | At | |||||
|---|---|---|---|---|---|---|
| 1April | 31March | |||||
| 2021 E |
Incomef | Expenditure f |
Transfers f |
2022 f |
||
| General funds | 76,863 | 82,990 | (118,044) | (2,895) | 38,914 | |
| Designated | funds (Fixed | |||||
| Assets) | 82,524 | (9,491) | 2,895 | 75,928 | ||
| 159,387 | 82,990 | (127,535) | 114p842 | |||
| At | At | |||||
| 1April | 31March | |||||
| 2021 | Income | Expenditure | Transfers | 2021 | ||
| f | f | E | f | f | ||
| General funds | 27,436 | 126,428 | (85,727) | 8,726 | 76,863 | |
| Designated | funds (Fixed | |||||
| Assets) | 93,185 | (10,661) | 82,524 | |||
| 120,621 | 126,428 | (85,727) | (1,935) | 159,387 |
| Generalf | Designatedf | Restricted | Total E |
|
|---|---|---|---|---|
| Tangible fixed assets | 75,928 | 75,928 | ||
| Net assets | 38,914 | 13,630 | 52,544 | |
| 38,914 | 75,928 | 13,630 | 128,472 | |
| ~Pr vi ~gr | ||||
| General | Designated | Restricted | Total | |
| f | f | E | E | |
| Fixed assets | 2,896 | 82,524 | 85,420 | |
| Net assets | 73,967 | 18,484 | 92,451 | |
| 76,863 | 82,524 | 18,484 | 177,871 |
| Total | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | funds | |||
| funds E |
funds E |
2021f | |||
| Income and endowments | from: | ||||
| Donations and legacies |
2,506 | 2,506 | |||
| Charitable activities |
120,975 | 53,646 | 174,621 | ||
| Other trading activities | 1,093 | 1,093 | |||
| Investments | 54 | 54 | |||
| Other income | 1,800 | 1,800 | |||
| Total income and endowments | 126,428 | 53,646 | 180,074 | ||
| Expenditure on: |
|||||
| Raising funds | 612 | 612 | |||
| Charitable activities |
85,115 | 39,470 | 124,585 | ||
| Total expenditure | 85,727 | 39,470 | 125,197 | ||
| Net income/(expenditure) | 40,701 | 14,176 | 54,877 | ||
| Transfers between | funds | (1,935) | 1,935 | ||
| Net movement infunds |
38,766 | 16,111 | 54,877 | ||
| Reconciliation ofFunds | |||||
| Total funds brought | forward | 120,621 | 2,373 | 122,994 | |
| Totalfunds corried | forward | 159,387 | 18,484 | 177,871 |