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|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|
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|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:||
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|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||||||
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|||||||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|
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||||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|
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||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|
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|||||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|
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|.
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|
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||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|
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|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|
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|||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|
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||||||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|
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