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|Contents:||Page|
|---|---|---|
|Annual
Report|||
|Preliminary||3|
|Mission Statement ofthe Trust||3|
|Curator's
Report||3-S|
|Visitor &User Figures 2022-23||6|
|Report ofthe Trustees|||
|Fina ncia I Review||7|
|Risk Management
&Reserves Policy||7|
|Structure,
Governance
&Management||8|
|Reference & Administrative
information||9|
|Responsibilities
ofTrustees
in relation to the Financial Statements||10|
|Related Party Transactions||10|
|Independent
Examiner's
Report to the Trustees||11|
|Statement of Financial Activities to year ended 31 March 2023||12|
|Balance Sheet||13|
|Notes to the Accounts for the year ended 31March 2023||14-23|
|Appendices|||
|A. Donations
&Grants, Supporters|& Partners|24|
|B. Additions to the Trust's collections 2022-23||24|
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|April 2022:|509|October 2022:|547|
|---|---|---|---|
|May 2022:|417|November
2022:|678|
|June 2022:|397|December 2022:|287|
|July 2022:|429|January 2023:|294|
|August 2022:|559|February 2023:|487|
|September 2022:|589|March 2023:|435|
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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|funds|funds|
||||Note|funds|funds|2023|2022|
|||||f|f|f|f|
|income and endowments||from:||||||
|Donations
and legacies||||765||765|540|
|Charitable
activities||||77,808|16,000|93,808|74,378|
|Other trading
activities||||4,727||4,727|7,170|
|Investments||||37||37|4|
|Other income||||2,821||2,821|1,157|
|Capital grants|||||88,704|88,704||
|Totalincome and endowments||||86,157|104,704|190,862|83,249|
|Expenditure
on:||||||||
|Raising funds||||817||817|1,059|
|Charitable
activities||||124,817|31,179|155,996|131,589|
|Total expenditure||||125,634|31,179|156,813|132,648|
|Net income/(expenditure||J||(39,476)|73,525|34049|(49399)|
|Transfers
between|funds|||87,155|(87,155)|||
|Net movementin
funds||||47,679|(13,630)|34,049|(49,399)|
|Reconciliation of Funds||||||||
|Total funds brought|forward||14,15|114,842|13,630|128,472|177,871|
|Total funds carried|forward||15,16|162,521||162,521|128,472|
|||TORFAEN MUSEUM TRUST LTD|TORFAEN MUSEUM TRUST LTD|TORFAEN MUSEUM TRUST LTD|||
|---|---|---|---|---|---|---|
|||BAlANCE|SHEET AS AT31MARCH 2023||||
|||||2023|2022||
||||Note|E|||
|Fixed assets:|||||||
|Tangible assets||||123,669||75,928|
|Current assets:|||||||
|Stocks||||4,144|2,516||
|Debtors|||12|5,809|5,691||
|Cash at bank|and in|hand||33,634|49,553||
|||||43,586|57,760||
|Liabilities:|||||||
|Creditors: Amounts||falling due within one|||||
|year|||13|(4,734)|(5,216)||
|Net assets||||38,852||52,544|
|Net current assets||||162,521||128,472|
|The funds of|the charity:||||||
|Restricted income funds|||14|||13,630|
|Unrestricted|funds:||||||
|General funds|||15|38,853|38,914||
|Designated|funds||15|123,668|75,928||
|||||162,521||114,842|
|Total charity|funds|||162,521||128,472|
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|||||Unrestricted|Restricted|Total|Tota I|
|---|---|---|---|---|---|---|---|
|||||funds|funds|2023|2022|
|||||f|f|f|f|
|Commission||on Art Sales||204||204|1,003|
|Trading|and|Publications|-Sales|3,066||3,066|2,844|
|Admissions||||1,457||1,457|3,323|
|||||4,727||4,727|7,170|
|NCOME|FROM INVESTMENTS|||||||
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|2023|2022|
|||||f|f|f|f|
|Bank interest||||||37||
|||||37||37||
|NCOME|FROM OTHER SOURCES|||||||
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|2023|2022|
|||||f|f|f|f|
|Sundry|income|||534||534|804|
|Parking|Permit||||||213|
|Room Hire||||2,287||2,287|140|
|||||2,821||2,821|1,157|
|EXPEND|ITURE|ON RAISING FUNDS||||||
|||||Unrestricted|Restricted|Total|Tota I|
|||||funds|funds|2023|2022|
|||||f|f|f|f|
|Shop costs||||817||817|1,059|
|||||817||817|1,059|
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|EXPENDITURE|ON CHARITABLE|ON CHARITABLE|ON CHARITABLE|ACTIVITIES||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Tota
I|
|||||funds|funds|2023|2022|
|||||E|E|E|f|
|Direct Costs||||||||
|Salaries,
Nl||||43,115|20,173|63,288|88,740|
|Training||||246||246|650|
|Display and exhibitions|||||5,006|5,006|845|
|Total direct costs||||43,361|25,179|68,540|90,235|
|Indirect Costs||||||||
|Energy||||10,185||10,185|1,868|
|Rates||||381||381|(203)|
|Telephone
and||Postage||4,424||4,424|3,402|
|Printing
and Stationery||||1,417||1,417|1,623|
|Maintenance||||8,893||8,893|6,710|
|Cleaning||||379||379|639|
|Security||||1,261||1,261|1,895|
|Website Development||||4,583|5,500|10,083|737|
|Subscriptions||||252||252|461|
|Insurance||||2,937||2,937|2,907|
|Miscellaneous||Expenses||114|500|614|1,973|
|Bank Charges||||499||499|512|
|Depreciation||||41,223||41,223|9,491|
|Independent|examination||and|||||
|accountancy||fees||4,203||4,203|4,472|
|Irrecoverable|VAT|||705||705|700|
|Consulting/Marketing|||||||4,167|
|Tota I indirect|costs|||81,456|6,000|87,456|41,354|
|Total||||125,634|31,179|156,813|131,589|
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|.
STAFF COSTS|||
|---|---|---|
||2023|2022|
||f|f|
|Wages &salaries|62,562|85,187|
|Social security costs||1,263|
|Pension costs|726|1,343|
||63,288|87,793|
||Total|Total|
|---|---|---|
||2023|2022|
||No|No|
|Full time|1|1.0|
|Part time|8|8.3|
|Total full time equivalents|2.1|2.4|
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||||Total|Total|
|---|---|---|---|---|
||||2023f|2022
f|
|Independent|examination|fee|2,900|2,600|
|Accountancy|fees||1,303|1,872|
||||4,203|4,472|
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|11.|TANGIBLE FIXED AS|SET|S||||
|---|---|---|---|---|---|---|
||||Computer|Office|||
||||Equipment|Equipment|Furniture|Totals|
||||E|E|E|E|
||Cost||||||
||At 1April 2022||565,077|8,257|118,818|692,152|
||Additions||87,552|1,411||88,963|
||At 31March 2023||652,629|9,668|118,818|781,115|
||Depreciation||||||
||At 1April 2022||489,148|8,257|118,818|616,223|
||Charge for year||40,870|353||41,223|
||At 31March 2023||530,018|8,610|118,818|657,446|
||Net BookValue||||||
||At 31March 2023||122,611|1,058||123,669|
||At 31March 2022||75,928|||75,928|
|12.|DEBTORS||||||
||||||2023|2022|
||||||E|E|
||VAT||||3,030|491|
||Trade debtors||||96||
||Other debtors||||1,144|3,803|
||Prepayments||||1,540|1,397|
||||||5,809|5,691|
|13.|CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE|YEAR|||
||||||2023|2022|
||||||E|f|
||Trade and other creditors||||1,670|3,437|
||Accruals &deferred|income|||3,064|1,779|
||||||4,734|5,216|
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|||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||||||
|Muse ums||(1,808)|259|||(1,549)|
|||18,484|259|(5,113)|-|13,630|
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|5.|UNR|ESTRICTED FUNDS|||||||
|---|---|---|---|---|---|---|---|---|
||||At|||||At|
||||1April|||||31March|
||||2022
f|Income
f||Expenditure
f|Transfers
f|2023
f|
|General funds|||38,914||84,350|(84,411)||38,853|
|Designated||funds (Fixed|||||||
|Assets)|||75,928||1,808|(41,223)|87,155|123,668|
||||114,842||86,158|(125,634)|87,155|162,521|
||||At|||||At|
||||1April|||||31March|
||||2021
f|Income
f||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)||114,842|
|6.|ANALYSIS OF BALANCE SHEET||||||||
||||General
f
Designated
f
Restricted
f|||||Total
f|
|Tangible fixed assets||||||123,668||123,668|
|Net|assets||38,853|||||38,853|
||||38,853|||123,668||162,521|
||||General||Designated
Restricted|||Tota I|
|||||f||f|f|f|
|Tangible fixed assets||||||75,928||75,928|
|Net|assets||38,914||||13,630|52,544|
||||38,914|||75,928|13,630|128,472|
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||||||Total|
|---|---|---|---|---|---|
||||Unrestricted|Restricted|funds|
||||funds|funds|2022|
||||f|f|f|
|Income and endowments||from:||||
|Donations
and legacies|||540||540|
|Charitable
activities|||74,119|259|74,378|
|Other trading activities|||7,170||7,170|
|Investments|||4||4|
|Other income|||1,157||1,157|
|Totalincome and endowments|||82,990|259|83,249|
|Expenditure
on:||||||
|Raising funds|||1,059||1,059|
|Charitable
activities|||126,476|5,113|131,589|
|Total expenditure|||127,535|5,113|132,648|
|Net income/(expenditure)|||(44,545)|(4,854)|(49,399)|
|Transfers
between|funds|||||
|Net movement
in funds|||(44,545)|(4,854)|(49,399)|
|Reconciliation of Funds||||||
|Total funds brought|forward||159,387|18,484|177,871|
|Totalfunds carried|forward||114,842|13,630|128,472|
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