2021-03-31-accounts

Registered number: 1702426 Charity number: 517325

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

CONTENTS

	Page
Legal and administrative details of the museum, its trustees and advisers	1 - 2
Chair's statement	3 - 4
Trustees' report (including Directors' Report and Strategic Report)	5 - 24
Independent auditor's report	25 - 29
Consolidated statement of financial activities	30 - 31
Consolidated balance sheet	32 - 33
Museum balance sheet	34 - 35
Consolidated statement of cash flows	36
Notes to the financial statements	37 - 70

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

LEGAL AND ADMINISTRATIVE DETAILS OF THE MUSEUM, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Trustees

Cllr D Jeffery, Chair Dame Julie A Kenny DBE DL, Vice Chair The Rt Hon the Baroness W A Taylor Mr P M Carragher Mr N Pearce (Resigned 4 May 2021) Mr T Shaw Mr J P Whyatt (Resigned 20 November 2020) Ms N Gregory (Resigned 20 November 2020) Ms T Garrett Mr D Wilkin Mr S Hoult (Appointed 20 November 2020, resigned 4 August 2021)

Company registered number

1702426

Charity registered number

517325

Registered office

Caphouse Colliery, New Road, Overton, Wakefield, WF4 4RH

Company secretary

Ms J Elliott

Chief executive officer

Mrs J Layfield

Senior management team

Mrs J Layfield, Museum Director Ms J Elliott, Director of Finance, Planning & Performance Mr S McLoughlin, Engagement/Mine Director

Independent Auditor

BHP LLP, 2 Rutland Park, Sheffield, S10 2PD

Bankers

Barclays Bank plc, Trinity Walk Shopping Centre, Teall Way, Wakefield, WF1 1QS

Page 1

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

LEGAL AND ADMINISTRATIVE DETAILS OF THE MUSEUM, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Advisers (continued)

Legal Advisors

Chadwick Lawrence, 8-16 Dock Street, Leeds, LS10 1LX

Internal Auditors

Audit Yorkshire, York Teaching Hospital NHS Foundation Trust, Park House, Wigginton Road, York, YO31 8ZZ

Investment Advisors

Robertson Baxter Limited, Beck House, 1 Abbey Road, Shepley, Huddersfield, HD8 8EP

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

I wrote my statement last year just as we had entered the start of the Covid-19 pandemic with little idea of just how earth shatteringly impactful the pandemic would be for the Museum, for its staff and volunteers and for society as a whole. Only now, as we leave 2020-21, can we start to see the green shoots of recovery. However, much remains unknown and untested, and we know that expectations of what the cultural sector is and should offer have changed beyond recognition. I stated last year that Museums remain an important and vital part of our heritage and that feels increasingly significant. Museums can offer a safe place for people to meet, a place for families to learn together and to reflect on shared experiences. The Mining story offers us a poignant reminder of the importance of community and strength, one which will take on increased importance as we rebuild.

The Museum closed its doors on the 17[th] March 2020, 80% of our staff and all our volunteers were sent home as the country faced its first national lockdown. The Museum did not welcome another visitor on site until 5[th] August 2020. We welcomed 5,118 visitors during August, September and October providing them with a Covid-secure self-led surface tour. Unfortunately, by November we were once more closed to the public, and we did not open our doors again until May 2021.

As I look back over the year, I am immensely proud of what we have managed to achieve despite the challenges that Covid19 has brought. We have as a Museum, with the continued support of our DCMS funding and the additional support from the Government supported Coronavirus Job Retention scheme, been able to continue to support our staff many of whom have remained on furlough for most of the year managed our resources prudently and have completed some key projects ensuring we are in a good position to move forward positively in 2021-2022.

Our team have found new ways of engaging with the public to ensure that we keep the stories of coal mining alive. We are particularly proud of our new Virtual Schools offer with schools from all over the country engaging with us through Zoom; learning about the life of a Miner and being able to ask questions directly to one of our ex-Miners. The period we were open between August and October challenged us to think differently without our underground experience as our main attraction. Regular visitors who returned found areas of the Museum they had not visited before and enjoyed the opportunity to speak with our Guides above ground. We have learnt valuable lessons about how we can better integrate the surface and underground offerings from this opportunity.

We have also managed to carry out key projects that will continue to develop the Museum and improve the offer in the years to come. We completed the second year of conservation works enabled by the DCMS Capital Infrastructure Fund ensuring priority works from the Museums Quinquennial report have been ticked off. In addition, with support from the LEADER scheme we have built a new Pony Discovery Centre which will enable us to expand the way we tell the stories of the Pit Ponies and will ensure that Finn, Eric, Bud and Ernie can be shown to their full potential!

There have been significant challenges and difficult decisions to face into. The audiences that did come back in the Summer of 2020 were much reduced and we believe it will take time for visitor numbers to return to their 2019 levels. The anticipated reduction in demand has led to the decision to reduce Museum opening days down to 5 per week and that has led, sadly, to a reduction in hours for our visitor facing staff. These decisions are never easy, but it is important to constantly assess the environment and ensure we are doing the best we can for the long-term future of this Museum, ensuring we will continue to be here to raise a lamp to the stories that are so important and so engrained in the culture of this country.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

It has been one of the most difficult years I have had here as Chair of this amazing Museum and I move into 2021 with the hope that we can gradually return to providing our visitors with a fantastic experience igniting imaginations and sparking interest. Personally, I would like to thank the Trustees for the support of the Museum and me during this particularly challenging year. On behalf of all the Trustees I would like to thank the dedicated and resilient leadership team who have carried this Museum through this turbulent period and to acknowledge all the staff who have all had very different experiences of the past year whether on furlough, working from home or carrying out the essential on-site jobs that have kept this Museum going. We move into 2021-2022 in a stable position. We appreciate there will be challenges ahead and it will take time to rebuild a Museum and a community but as ever we remain enthusiastic, committed and as passionate as ever to spark the history of mining to life and to ensure our visitors (physical or digital) leave with a desire to go deeper and a desire to return.

Name Cllr Denise Jeffery Chair Date 10 September 2021

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and the audited Financial Statements of the Museum for the year ended 31 March 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the Museum.

The Financial Statements have been prepared in accordance with the accounting policies set out in notes to the accounts es Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

Trustees of the charity

The directors of the charitable company are its trustees for the purposes of charity law. The Trustees who have served during the year and since the year end were as follows:

Cllr D Jeffery, Chair Dame Julie A Kenny DBE DL, Vice Chair The Rt Hon the Baroness W A Taylor Mr P M Carragher Mr N Pearce (Resigned 4 May 2021) Mr T Shaw Mr J P Whyatt (Resigned 20 November 2020) Ms N Gregory (Resigned 20 November 2020) Ms T Garrett Mr D Wilkin Mr S Hoult (Appointed 20 November 2020, resigned 4 August 2021)

About the National Coal Mining Museum for England (NCMME)

The Museum is a charity limited by guarantee. The Museum (as Yorkshire Mining Museum) opened to the public 33 years ago on 6 June 1988. It occupies two colliery sites, Caphouse and Hope Pit, which are, together, the only surviving intact example of a rural nineteenth-century colliery in the UK and the only remaining deep coal mine in England.

Because of its unique status and survival, the Museum gained national status in the 1990s to become the National Coal Mining Museum for England. The Museum is also an active mine governed by the Mine Regulations of 2014 and maintains the ambience and appearance of the mine at the point of its closure. This keeps the Museum historically authentic and makes for a compelling visitor experience, but it also means that the mine has some of the strictest health and safety requirements of any public attraction.

In the past, the mine worked at least six seams in its life, including the New Hard seam at 140m deep that now houses the underground tour experience enjoyed by visitors. Whilst the first shallow workings date from the 1790s, the deep mine is Victorian and extensive work has taken place to preserve the historic roadways and the nineteenth-century furnace shaft, and to provide underground displays and interactive exhibits, ensuring that the experience remains immersive and relevant. On the surface the mine buildings on the site are collectively known as the heapstead, and it is this group of there are also outdoor public spaces including playpark, stables for four pit ponies, a mine railway, a nature trail and memorial garden. Additionally, the site has an extensive minewater treatment system including pumps, lagoons and reed beds. Indoors there are education spaces for formal and informal learning, a shop and a conference centre, extensive formal displays providing histories of past and contemporary methods of mining and displays of mining machinery and social history artefacts. There are also three Museum stores and a library.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Objectives and Activities

a. Policies and objectives

The main objective of the Museum is to advance the education of the public in the history of mining in England by the provision and maintenance of a museum both underground and on the surface at the former Caphouse Colliery, for the demonstration of past and contemporary mining methods and the exhibition of machinery and other items connected with mining and industrial archaeology.

The following strategic aims are the basis of the strategic framework that enables the Museum to deliver to its core purpose.

1. To preserve, safeguard, develop and research our historic site and collection of national importance to the highest museum standards

2. To deliver engaging and exciting learning experiences across diverse audiences, through our tours, exhibitions, workshops, activities, events and use of spaces

3. To extend our reach, remove barriers to access and maximise the impact of our resources and expertise, locally, nationally and internationally

4. To be a safe, efficient, accountable, inventive and resilient organisation, where staff and volunteers feel valued and empowered.

b. Strategies for achieving objectives

current strategic framework was developed by preserving and sharing its rich heritage, and encouraging learning for everyone with the unique Museum site and collections. The vision is to be the leading Museum on coal mining in England, attracting people from all backgrounds and places for inspirational learning and heritage of coal mining. Under each of the aims there are a series of strategic objectives which are as follows:-

1. To preserve, safeguard, develop and research our historic site and collection of national importance to the highest museum standards

2. a. To preserve and develop the underground and historic site

3. b. To conserve the collections and improve their storage facilities

4. c. To collect and document material relating to coal mining in England

5. d. To provide a centre for research into coal mining in England

6. To deliver engaging and exciting learning experiences across diverse audiences, through our tours, exhibitions, workshops, activities, events and use of spaces

7. a. To interpret the site, and collections in the main galleries and underground to demonstrate the heritage of coal mining

8. b. To provide exhibitions that illuminate and enliven the story of coal mining in England

9. c. To provide an education service to schools that is responsive to changing and diverse needs

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

• d. To provide engaging formal and informal learning opportunities for diverse and defined audiences, and particularly for children, that enrich lives and help to alleviate the effects of poverty and other disadvantages within society

• To extend our reach, remove barriers to access and maximise the impact of our resources and expertise, locally, nationally and internationally

• a. To extend the reach of our collections in line with our national remit through loans and external exhibitions

• b. To provide tailored outreach activities and visits and talks off-site

• c. To develop a network of volunteers to conduct activities that the Museum would otherwise not provide d. To share good practice with other museums and organisations, provide support and advice where it is requested and be an advocate for the Museum and its network

• e. To remove barriers to access wherever possible to ensure that the widest possible range of the public can visit or access services

• f. To use technology to broaden access to the collections

• g. To use communications and marketing strategies to increase the profile of the Museum, locally and nationally.

• To be a safe, efficient, accountable, inventive and resilient organisation, where staff and volunteers feel valued and empowered.

• a. To ensure that safety is paramount and that health and safety is the primary consideration of all Museum activities

• b. To raise sufficient funds to ensure the continued development of the Museum

• c. To value the Museum staff and harness their expertise at every level of the organisation to provide a world class visitor attraction

• d. To ensure that the governance and organisational health of the Museum is handled according to the appropriate frameworks

• e. To ensure the Museum systems function efficiently

The performance indicators that have normally sat alongside the strategic review have been largely redundant during 2020-21 as their primary focus is visits to site. The Museum developed a set of interim indicators during the pandemic that focussed on the essentials of maintaining a closed museum including buildings and collection checks, maintenance of the underground and ensuring communication with staff and volunteers. Measuring the impact of our digital programme has remained key during this period and has been, in the main, the Museums most significant connection with its visitors.

The strategic review and master planning process which was programmed for 2020-21 was postponed due to the pandemic however there is now a clear programme in place for progression during 2021-2022 as illustrated overleaf.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

development of the Museum.

ck at

the life beneath, we unearth the history and the pride. We spark coal to life. We raise a lamp to the stories, the culture, the values. We illuminate the past and we light the future of our connection with coal, mining and its rich heritage. We are the guardians of the deep, the custodians of the coal, we are the keepers of the stories and the treasurers of the memories. We will pass them on.

This statement will support the team in developing the focus of activities, programming and interpretation providing a coherent story and narrative around what the Museum is here for.

c. Activities for Achieving Objectives

To preserve, safeguard, develop and research our historic site and collection of national importance to the highest Museum standards

In early 2019 the Museum was successful in being awarded a £680k allocation from the DCMS sponsored Museum Infrastructure Fund to enable it to carry out essential work on its headstock and heapstead. This has included picking up key works as identified in the Museums 2017 quinquennial report. The work on the Museums iconic headstock was completed in Summer 2020 and the phase 2 works based around the Hope headstock and heapstead were largely completed by the end of March 2021.

t protects the heritage of national museums and we fulfil our obligations through the accreditation process, through an active accession and disposal regime and through facilities to research and discover the collection on site and on-line.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

To deliver engaging, exciting learning experiences across diverse audiences, through our tours, exhibitions, workshops, activities, and events and use of spaces

The ability to deliver against this objective has been challenging when the Museum has remained closed to visitors for much of the year. Focus shifted from on-site engagement to a digital virtual museum. This included adapting the website to engage peopl into different aspects of the Museum from explaining maintenance to living history performances.

The Museum developed, tested, and rolled out a virtual schools learning programme which was a significant achievement. 334 children. In addition our usual on-site workshops for families have been adapted to respond to, initially, a socially distanced Covid-Secure environment and then into a completely virtual offer.

The Museum opened briefly between August and October 2020 and welcomed 5,118 visitors through its doors. Again engagement needed to be compliant with social distancing requirements with the learning team developing activity packs for the school holidays and new self-led trail booklets. The surface-only offer provided a unique opportunity to receive feedback on elements of our Museum that are traditionally less popular with our visitors. It has been heartening to see how positively it was received. This will further support the work we are carrying out as part of the National Lottery Heritage Fund (NHLF) funded Coalfield Conversations project.

To extend our reach, remove barriers to access and maximise the impact of our resources and expertise, locally, nationally and internationally.

The Museums cohort of volunteers left the site at the end of March 2020 and are not due to return until June 2021. Again the challenge for the Museum has been to continue to develop relationships and engage volunteers when the normal channels of communication have been closed. Initially work has been undertaken to support the retention of the existing volunteer cohort through newsletters and a series of remote projects however once again Covid has provided opportunities to look at remote volunteering as a longer-term option and a way to engage communities who are further afield.

The pandemic and resultant lock downs created barriers to access requiring the Museum to develop new ways to work, extend our reach and to experiment with new ways of providing more digital outreach. The Museum has developed new content increasing its use of video content on social media and using new communication tools such as Zoom to engage with audiences remotely.

To be a safe, efficient, accountable, inventive, and resilient organisation, where staff feel valued and empowered.

The impact the pandemic has had on visitor numbers has required the Museum to review its short term strategy and in particular work was carried out in October 2020 to review our capacity on site and the potential future demand from visitors. This led to the difficult decision to reduce our opening hours from seven days a week to five days a week. As a result there has been the need to restructure roles and hours of work to accommodate the changes. This process took up a significant period of 2020-21. Working with staff and the union the Museum managed to minimise the number of compulsory redundancies required however a number of staff accepted voluntary redundancy.

The pandemic required the Museum to review its operating procedures and introduce Covid-secure procedures as part of its Covid Secure risk assessment. The Health and Safety Executive (HSE) visited the Museum in October 2020 to review the procedures in place and responded positively to the work that had been put in.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Financial planning for the 2020/21 financial year needed to take account of the huge uncertainties presented by the Covid 19 pandemic. We were in national lockdown as we began the financial year and at that time had no indication of how long that lockdown might be effective. The locked down weeks in the preceding financial year had led to some deferred expenditure and the loss of a number of weeks of visitor generated income. The Board considered the implications for the 2020/21 financial year and determined that the most appropriate action at that time was to develop an operational budget on the potentially worst-case scenario of the Museum remaining closed to visitors for the whole of the financial year, and that the budget would be reviewed in year should circumstances change.

It was clear that resources should be prioritised to meet the cost of safety critical maintenance, the costs of bringing the IT infrastructure up to date and any pressures identified to allow the Museum to open safely when restrictions allowed.

The approved budget demonstrated that the Museum could meet its unavoidable expenditure costs while remaining closed to visitors.

The 2019/20 Trustees Report and Accounts received an unqualified Audit opinion when the Accounts were approved by the Board in September 2020.

Although only for a period of 13 weeks, the Museum did enjoy a period of being open to visitors and during this time was delighted with the support we received from visitors both in terms of revenue generated by the surface only offer and also the uptake of the opportunity to make a donation online.

In order to be able to support our staff during these challenging times, the Museum accessed the National Coronavirus Job Retention Scheme which provided significant financial support throughout the financial year and undoubtedly prevented individual significant hardship. Overall we retained a number of safety critical staff working on site, other staff worked from home as roles permitted with the balance of the team being allocated furlough leave. This situation was kept under constant review as circumstances changed.

The Museum opened its doors to the public when relaxing of restrictions allowed, however then sadly had to close them once again when lockdown was reintroduced. As a Museum we were in the last phase of relaxation.

The changing circumstances led to a review of the 2020/21 annual budget as we entered the Autumn and a revised budget was approved by the Board of Trustees when meeting in November. This budget detailed both recurrent and non-recurrent income and expenditure and took account of the non-recurrent financial implications of the staff restructure which was proposed in response to the longer term implications of the pandemic. The revised approved budget continued to demonstrate that the Museum could meet its costs with the resources available.

The Museum is the sole shareholder of National Coal Mining Museum Trading (NCMMT) Limited whose principal activities are the retailing of gifts, souvenirs and educational items associated with the mining industry and the provision of catering and conferencing facilities. In previous years, NCMMT Limited annually donated all generated profit to the Charity, however, given the uncertainty of the 2020/21 financial year a decision was made for NCMMT Limited to retain the surplus generated in the 2019/20 financial year in order to provide working capital during this challenging period. It is pleasing to report that this action, together with the income generated during the short period of opening, an increased presence with the online shop offer and support from the Museum in terms of inter-company recharges together with support from the National Coronavirus Job Retention Scheme has resulted in the NCMMT Limited remaining solvent during the 2020/21 financial year.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Information on fundraising practices

During 2020/21 opportunities for fundraising have been restricted, however, all opportunities for support from Grant giving bodies have been pursued. All fundraising activity carried out on behalf of the Museum during 2020/21 was undertaken by Museum staff or registered Museum volunteers. The Museum is registered with the Fundraising Regulator and upholds the commitments of its Fundraising Promise, including but not limited to, compliance with the Fundraising Code of Practice. We monitor and record any complaints relating to fundraising activities and are pleased to report that for the financial year ending 31 March 2021, no complaints were received. A copy of the Fundraising Promise and the As part of our commitment to treat all of our donors fairly, we ensure that no-one is unduly pressured to make a donation. If any of our current donors wish to stop giving, we will respect their decision. The needs of people in vulnerable circumstances are also recognised and acknowledged.

The trustees have had regard to the Charity Commissions guidance on public benefit and confirm that this guidance forms the basis of planning decisions at both strategic and operational levels. The primary public benefit of the museum is the education of the public in the history of mining.

Our ability to achieve the full range of public benefit activities for 2020-2021 have been severely reduced through the impact of Covid-19 however the Museum has achieved the following:

• hops to 334 children

• Volunteers donating 772 hours working on a remote basis 5,118 -site visitors during August and October

• 85,237 website users engaging with online content. Website Dwell Time 1:57

• Average Facebook Daily Page Engaged Users 237

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Strategic report

Achievements and performance

a. Key financial performance indicators

The Museum is accountable for its performance to the Science Museum Group and historically its success has been measured by performance against a number of performance indicators related to finance, to numbers of visits and to items loaned to other venues. The implications of the pandemic have rendered many of these indicators not relevant to the operation of the business in this financial year. Under the oversight of the Finance and Audit Committee the Board of Trustees instigated a suite of Internal Performance Indicators related to our strategic aims and objectives and reflective of the changing scope of operations. Performance against these indicators have been reported routinely to the Board throughout the financial year and with only one minor exception have been achieved or exceeded by the close of the year.

b. Review of activities 2020/21

To preserve, safeguard, develop and research our historic site and collection of national importance to the highest museum standards

• The preservation and consuming activity that the Museum carries out. The mine operations are subject to strict oversight and controls by the HSE. The 2014 Mine Regulations provide a set of strict checks and balances for mine owners, of which we are one. The HSE carried out one on site visit during 2020-21 which included a review of the Museums Covid-Secure arrangements and review of the underground during its period of closure. No material breaches were recorded. During the course of the year over £32,000 has been spent on maintenance with the majority focussed on keeping the Mine winder compliant, including the 10 yearly statutory examination and Non-Destructive Training test.

Contractors were appointed and work started on the second year of funding from the DCMS sponsored Museum Infrastructure Fund. The work continued to be focused on priority works coming out of the Museums Quinquennial report focussing on the heapstead and the shaft at Hope Pit. In addition works were carried out including repointing and painting the Inman shaft and core compliance works required for key buildings within the heapstead.

A full collections review was instigated at the Museum as part of its accreditation. The initial pilot was focussed on the compound area where the majority of the Museums industrial collections are housed. The review has identified a clearly prioritised list of conservation works enabling the Museum to focus on putting right the most important elements of the collections with the greatest conservation need. These items will then become a core focus of future grant funding applications. As part of the focus on the large items of the industrial collection conservation work on the Smith Rodley Steam Crane was carried out in 2020. In addition the Museum was successful in being awarded just over £9,200 for the conservation of the Thomas Rodley and Sons face shovel from the Association of Industrial Archaeology.

Smith Rodley Steam Crane

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

The collections volunteers have continued to support the Museum whilst working from home. The Hidden Voices volunteer team working 224 hours and transcribing 32 hours of audio since the beginning of lockdown and the cataloguing volunteer working 75 hours and cataloguing 4,528 negatives from the Martyn Pitt Collection which have been added to the Modes collections data base. However, there has undoubtedly been a hiatus in the Museums normal everyday work on conservation and documentation. Our Industrial volunteers who carry out work on items of the collection have been unable to attend site. Likewise the normal level of activity on cataloguing and managing our documentation has been paused with staff unable to come on site.

To deliver engaging, exciting learning experiences across diverse audiences, through our tours, exhibitions, workshops, activities, and events and use of spaces

The Museum was awarded around £82,000 programme in 2019Humphry Davy and the Mine Safety lamp. Progress on installation of the exhibition was halted at the end of March 2020 however was picked up again in May 2020 ready for launching when the Museum opened in August 2020.

In addition two temporary exhibitions were launched for the summer opening. The first seven artists who were all miners or who had worked in the coal industry and drew on their working experiences. The exhibition showcases the variety of work produced by these men, who all turned to art for different reasons, to draw both on the positive and negative aspects of life down the Pit.

permission from Margaret Lamb.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

The second temporary exhibition, , was a result of a wide-ranging oral history project carried out in partnership between the Museum, University College London and the University of Reading, funded by the Arts and Humanities Research Council. The project aimed to redress the balance of the history of the 1984-1985 miner strike, shedding light on the women whose lives were changed forever and who helped shape the course of events.

The Museum was able to open to visitors on the 5[th] August and remained open for 13 weeks. In line with government guidance the Museum developed an offer based on a self-led trail around the Caphouse surface. Visitor numbers were limited based on social distancing requirements however the opportunity was taken to seek views from our visitors on an offer that would normally be seen as secondary to the underground. Our Mine Guides were posted at key positions around the site and were able to engage with all visitors that came. Feedback during the period was overwhelmingly positive with 100% of visitors feeling safe on site.

Women in the Strike Exhibition

In 2010 the Museum received LEADER grant funding of just under £73,000 towards the development of a Pony Discovery Centre at the Hope End of the site. Construction work commenced in the second quarter of 2020 with all external works completed by March 2021. The Centre will create a substantial additional component to the Museum experience providing an opportunity to engage our visitors more fully in the story of the pit ponies and to provide demonstrations and a programme of activities which will bring those stories to life. In addition the Centre will provide additional classroom facilities expanding what we currently provide to schools and increasing our capacity.

Museum to continue to engage schools in the history of mining. The first, Meet a Miner, is a one-hour introduction to coal mining history which is focussed on the local history aspects of the Museum. The second, Victorian Miner, is closely linked to the history curriculums study of a period after 1066 and the workshop includes pre-recorded videos of living history interpreters explaining different aspects of working life in mines during the 1800s. Feedback for the workshops has been incredibly positive with 100% stating that they would recommend the workshop. Some schools chose to complement their virtual workshop with one of the Museums loan boxes. The scheme was completely refreshed during the year to ensure it complied with government guidance. Demand for this resource increased over the lock down period with the reach extending as far afield as Telford and Crewe.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

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TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

British Thomson-Houston Turbo Alternator

Research was undertaken to produce interpretation and images for the machinery and large objects on open display audience including items such as the Trepanner, Edeco Pump and the Turbo Alternator (see picture above).

To extend our reach, remove barriers to access and maximise the impact of our resources and expertise, locally, nationally and internationally.

The Museum has two ongoing funded projects whose core purpose is around extending reach; these are the NLHF funded Coalfield Conversations project and Ignite Yorkshire, the four-year youth engagement project funded by We Are IVE, an Arts Council bridge organisation. Both these projects have been severely affected by the pandemic. Conversations have been ongoing with the grant funding bodies to ensure all parties are clear on next stages and whether any changes have needed to be made.

The Ignite project has been a challenging project to deliver due to a reliance of the project on physical engagement with young people on site at the Museum. Work has been carried out on adapting this project to deliver in the current restrictive situation we are working in. The activity plan was rewritten and has switched emphasis from onsite activities to developing and establishing a youth panel with the aim of consulting with the Museum on ways to reach young people and be inclusive. The focus is on creating a sustainable legacy from the project which benefits the Museum with advice and consultation.

The Coalfield Conversations project builds on research the Museum carried out in 2017; its overarching aim is to better the whole surface offer, complementing the underground experience and encouraging more emotional engagement with our full story. A core component of the project has been developing this aspect through our

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

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TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

volunteer programme. This project has had to be reviewed and adapted as our volunteers have not been able to attend site since March 2020. Initially the volunteers played a vital role in developing material and content for the Museums virtual offer via the website and social media. Additional projects have included research for social media stories using our on-line collection materials, community mapping and research for the 2021-22 temporary exhibitions.

One such project has been the Voices in the Coalshed; initially designed as an onsite gallery activity to stimulate creative writing inspired by mining, during the pandemic it moved on-line during the lockdown period. A team of volunteers are researching and preparing pieces that are posted weekly. It has also stimulated wider community engagement with community-based writing groups producing creative pieces prompted by images or objects from the collection.

A volunteer survey was carried out in January 2021 to understand the needs of our volunteers going forward and to further understand their requirements as the Museum moves towards opening.

to check for upcoming events or planning a day out. Over the last year the Museum has needed to adapt its social media and web presence to engage with visitors in new ways to ensure that individual relationships with the Museum continue to develop and that there continues to be a desire to return to the site when it opens.

The Museum historically has a strong and loyal following which is directly related to our high engagement rates (likes, shares and comments) experienced on our Facebook channel, which are consistently in the top quarter of local large attractions. To maintain this engagement and maximise the reach of each post the Museum posted regular content that gave the public an insight into different aspects of the museum from explaining maintenance to living history performances. The Museum has a broad and interesting content which could be packaged for social media and shared to entertain and educate. Posts were analysed on a fortnightly basis to ensure they remained topical and to maximise content that was popular, by looking for similar objects or stories to the best performing posts. As the level of content increased it was classified on to the website into See, Learn and Do which made it easier for visitors to find appropriate content for their needs.

Facebook lifetime visitors increased by 5.6% to 19,048 likes with a maintained average daily reach of 7,334 people. Twitter increased by 11% to 5,033 followers while Instagram increased by 22% to 1,677 followers. 85,237 people visited the museums website, which was a 44% decrease year on year, but 86% of those visitors were new visitors to the site.

In the last three quarters the museum reached 665 million people in the written press with a value of £11.2 million[[1]] which is 30% higher than the year before on a like for like basis. The museum was also named as a Favourite UK Museum and Gallery in the Guardian.

This Week On The Farm, on The Museum Director was interviewed by Radio 4 on the coal industry. Locally the museum appeared on Calendar, to commemorate the 5-year anniversary of the Kellingley closure and on Radio Leeds discussing Pit Ponies.

A number of items from the photographic, library and ephemera collection were loaned to the Manchester School of Architecture to support student research while the Museum Library has been closed. The items were cared for and access was provided by Manchester Metropolitan University Special Collections Library. This loan has supported an Arts and Humanities Research Council (AHRC) funded project to investigate the value of infrastructure in post-war Britain. This includes motorways, power stations, reservoirs, and collieries.

[1] Generated through use of Agility PR Solutions analysis software

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

To be a safe, efficient, accountable, inventive and resilient organisation, where staff and volunteers feel valued and empowered.

It has been imperative during the year to find ways to keep staff engaged and motivated. At times during the lockdown around 80% of the Museums staff were on furlough leave and most of the remainder were working from home. Initial staff communications had to be posted out however over the period this has moved to email with regular newsletters going out to keep staff updated. The Museum has been incredibly grateful for the support that the Government roles. A review of likely demand and potential capacity constraints lead to a decision to reduce the Museums visitor facing opening from seven day to five days per week has led to the need to reduce staffing numbers. Consultation started in December 2020 and concluded in May 2021. Working with staff and the recognised union the Museum was able to minimise the number of compulsory redundancies.

The Museum was able to open for 13 weeks commencing 5[th] August 2020. A large amount of work was required to ensure the site was Covid Secure including a large increase in the level of signage on site to inform and keep visitors safe, the introduction of sanitising stations across site and the increased requirement for personal protective equipment including masks and gloves. A visit from the HSE in October reviewed the Museums Covid Secure procedures and reported back favourably.

Despite the pandemic and with the benefit of Government support and efficient prioritisation of operational costs, the Museum was in a stable financial position as we ended 2020/21 and entered the 2021/22 financial year.

An assessment has been made of the forecast visitor numbers and anticipated related revenue streams as the country moves forward and the Museum has a target trajectory to be back to pre Covid levels of activity in the 2023/24 financial year. In the interim, a limited but growing offer will be in place and will be kept under active review. Opportunities to build back better are being taken and implemented throughout our operations.

The Board has approved a balanced budget for the 2021/22 financial year based on our assumptions of post Covid capacity and demand and have considered the implications for the 2022/23 and 2023/24 financial years when capacity and demand are both expected to increase.

The Museum is working to develop a Masterplan and associated Business Plan together with a detailed long term financial strategy and will build on the successes of previous years with opportunities to diversify income streams and attract sponsorship and grant funding.

On average during 2020/21 the Museum employed 96 staff on either a full time or a part time basis and the number of regular volunteers prior to the pandemic was 69. We have been in active contact with our volunteer cohort throughout the period and will re-engage with all willing volunteers when we reopen.

Page 17

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Financial review

Income for the year was £4,134,232 (2020 £4,424,038) Expenditure for the year was £3,926,581 (2020: £4,176,492), resulting in an operating surplus of £207,651 (2020 £247,546). A net gain on investments of £306,714 (2020: £90,504 loss), a tax credit of £8,808 (2020: £13,259 expense) and an actuarial loss on the defined benefit pension scheme of £235,000 (2020: £104,000) resulted in a surplus of £288,173 (2020: £39,783).

a. Going concern

The Trustees have considered the impact of COVIDthe wider economy. Whilst it is not considered practical to accurately assess the duration and extent of the impact, the Trustees are confident that they have in place plans to deal with any short and medium term financial losses and cash deficits that may arise.

The Board have prepared forecasts of income and expenditure and cash flow for the period to March 2023 which shows that they have sufficient reserves to be able to continue for the foreseeable future. Although there is no reason to assume a reduction, forecasts have been developed assuming both a continuation of the current level of DCMS grant monies and also a potential reduction. Having considered these alternative scenarios the Trustees continue to adopt the going concern basis of preparation for these financial statements.

b. Financial risk management objectives and policies

The Charity is supported by a Grant in Aid equating to circa 90% of its operational expenditure. Through effective management of expenditure and the maximisation of income generating opportunities the Museum has delivered operational and statutory surpluses in the preceding two financial years. A consolidated breakeven budget for the 2021/22 financial year has been approved by the Board of Trustees. This budget includes a number of discretionary projects which are programmed for later in the financial year and will only be activated if activity and financial performance allows. Anticipated recovery from the pandemic has been mapped to expected visitor numbers and respective income expectations for the forthcoming three years and the potential to manage costs within each forecast annual income target has been reviewed and approved. The Board have considered these plans and are confident that they provide a robust ny potential cash flow risks can be mitigated by reference to .

The financial forecast for the Trading subsidiary is more challenging and is dependent on the volume of visitors to site and the related café and retail sales. The Museum is often Museum and the Trading Company is to create attractive opportunities for visitors to visit, stay, return and contribute financially when on site and online. Prior to the pandemic the Trading subsidiary was actively considering outsourcing the café and conferencing offer, however changes in the economic environment have led to those negotiations being aborted. Both the Museum and the Trading subsidiary view this as an opportunity to grow the business in house and as restrictions are eased the scale and scope of the offer will be reviewed and expanded. While costs are being managed and opportunities for income generation are being explored, the Charity as the parent company, recognises the benefit of the trading subsidiary as a future income stream and has therefore committed to providing financial comfort for the trading subsidiary for the forthcoming period, within the rules of Charity and Company Law.

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(A company limited by guarantee)

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

c. Reserves policy

As a matter of policy, the Museum maintains sufficient reserves to enable it to discharge its responsibilities as a charity and to fulfil the responsibilities set out in its Memorandum and Articles of Association. The reserves consist of restricted reserves and unrestricted reserves. Restricted reserves are those where the donor or grant-giving body has provided the The restricted reserves held and their specific purposes are shown in note 23. The Museum does not hold any endowment purposes and -in-aid funding, within the underlying principle that funds allocated to the Museum should be used for the purpose specified and should only be held when there is a plan for utilising those funds within a given timescale either for a specified or general purpose. Within the unrestricted reserves are twelve designated reserves where the Trustees have set aside unrestricted funds to be used for particular projects or commitments and these are shown in note 23.

The Museum's free reserves as at 31 March 2021 comprised the following

Unrestricted reserves excluding pension liability less: Designated funds - other less: Designated funds represented by tangible and heritage assets Free reserves	£ 7,960,935 (651,561) (5,074,291) 2,235,083

• 8,860) and a maximum of expenditure (£3,926,581) in reserve. The total reserves as at 31 March 2021 lie within this range and are considered sufficient to mitigate the potential financial implications should any of the key identified risks need to be addressed. In particular, the free reserves are deemed adequate to meet an unforeseen reduction in the Grant in Aid and provide sufficient working capital to continue operations. The free reserves are significantly invested within our investment portfolio and are primarily invested with Fusion Wealth. The Trustees regularly review the Reserves Policy and the Investment Policy and amend as appropriate to reflect likely funding requirements and known risks.

d. Pension liabilities

The deficit on the Local Government Pension Scheme has increased from £3.4M to £3.9M and is recognised on the Balance Sheet. However, due to the long-term nature of the deficit, it is not expected to have any material impact on the Museum. Details are given in Note 30 in the Financial Statements. The Trustees have considered and challenged the assumptions underpinning the pension liability valuation and have concluded that the assumptions are conservative and therefore the risk of overstating the net asset value on the Balance Sheet is minimal. In addition, there is a Guarantee and Indemnity in place between the National Coal Mining Museum for England Trust Ltd and Wakefield Metropolitan District Council in respect of the admission of employees to participate in the benefits of the West Yorkshire Pension Fund. The Trustees have considered whether the Museum is in a position to pay the pension scheme charges on a year on year basis and have concluded that the Museum can comfortably meet these charges and that they are included within the approval balanced budget.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

e. Principal funding

In the financial year 2020/21 the Museum received £2,453,000 grant-in-aid from the Department for Digital, Culture, Media and Sport (DCMS), channelled through the Science Museum Group (SMG). This core funding enables the Museum to preserve the underground, collections and buildings and offer free entry to the permanent collection for the general public regardless of income. The amount received in grant-in-

annual income, with the other main sources including grants for specific projects, donations, Coal Authority support, trading activities and in the 2020/21 financial year, the National Coronavirus Job Retention Scheme. Traditionally, a experience which unfortunately has been suspended due to Covid 19 and related restrictions. Plans are in place to reintroduce the underground experience when it is deemed safe.

During the period of enforced closure we have maintained close contact with our supporters and funders as we work to maximise the benefits of third party and core funding.

Summer is our key time for family attractions and the income they generate. We are looking to develop an enticing Covid secure offer in line with guidance provided by Government.

f. Investment performance

taken

some years ago to invest the reserve funds with a low tolerance towards risk in order to protect the capital sum. Early in decision to transfer all of the funds to Fusion Wealth in anticipation of improved performance and service and an overall reduction in costs. All assets are trading on the recognised stock exchanges. Trustees regularly review and monitor performance. Until the final quarter of the 2019/20 financial year, reported performance had been good and a gain on the investment was expected, however the impact of Covid 19 on global markets resulted in a significant deterioration in the value of the investment at the year end. It is pleasing to note that at the investment review as at 31[st] March 2021 it was reported that there had been a remarkable post Covid recovery resulting in a significant increase in the value of the Fusion Wealth Portfolio with values well in excess of the pre Covid levels. Investment performance is regularly monitored against the appropriate peer group/benchmark and although the six-month figure was slightly below, the investment portfolio has generally performed above the benchmark. The advice of Robertson Baxter, our investment advisors, is this time. d in activities that are likely to hinder the achievement of the objects of the Museum. Investment performance is reported to and monitored reviewed to ensure the investment portfolio remains appropriate.

Plans for future periods

The Museum continues to work towards a full strategy refresh and delivery of a 10-year masterplan by the end of 2022. Work planned for the 2020-21 financial year was put on hold with resources focussed on managing the pandemic. A review of future require opening hours from 7 days a week to 5 days a week (Wednesday to Sunday), the working assumption being that it is likely to take 2-3 years for visitor numbers to reach pre-pandemic levels. The resultant impact was a reduction in the number of hours that were required from visitor facing roles however working in consultation with the union and staff the majority of these changes were carried out without the need for compulsory redundancies.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

The focus for the Museum for the next year will be around re-building. Firstly there will be a need to rebuild a team on site over the 2020-21 year a large proportion of our staff were on full furlough leave and the remainder have worked, predominately from home. Re-learning how to work together as a physical team on site and rebuilding relationships and connections with the Museum will take time and will need careful nurturing.

Similarly we will need to rebuild relationships with our visitors and re-engage them with the offer on site. The Museum built a safe and secure offer which our visitors were completely satisfied with however the transition back to something which involves larger numbers and will also start to include the underground tour will be challenging and will have to take into account fears around physical contact building confidence that this is a safe and enjoyable activity.

As the Museum considers its financial model, the continued support through central funding will be critical in enabling the Museum to fund its core offer. In addition, the Trustees are conscious of the need to financially plan for the future, generating surpluses and attracting additional funding in order to facilitate investment and sustainability.

Structure, governance and management

a. Constitution

The National Coal Mining Museum for England Trust Limited is a company limited by guarantee, governed by its Articles of Association, and has no share capital. It is registered as a charity with the Charity Commission and its registered number is 517325.

The principal objects of the Museum are to advance the education of the public in the history of mining in England by the provision and maintenance of a museum both underground and on the surface at the former Caphouse Colliery, for the demonstration of past and contemporary mining methods and the exhibition of machinery and other items connected with mining and industrial archaeology.

This means we collect, preserve, display and interpret whatever relates to the coal industry in England and to enable others to gain an insight into the mining industry and the life of mining communities. In short, we keep the stories of coal mining alive.

b. Register of people with significant control

The Museum knows or has reasonable cause to believe that there is no registrable person or registrable relevant legal entity in relation to the company.

c. Method of appointment or election of Trustees

Eight Trustees are currently in post, their recruitment has been through a proper process of skills audit, and appropriate open competition for places. Formal induction and on-going training of Trustees is now in place. The Board is supported by the following formally constituted Committees, Terms of Reference for which were agreed at the April 2017 meeting of the Board of Trustees:

Finance and Audit Committee The Finance and Audit Committee consists of at least three Trustees, nominated for the full term of their office by the Board of Trustees. The Committee is charged with advising the Board on its financial ng within the financial requirements and guidelines set out i

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Remuneration and Nominations Committee - The Remuneration and Nominations Committee consists of at least three Trustees (currently four), who shall normally be the Chair, and two Trustees nominated for the full term of their office by the Board of Trustees. The Committee considers the following items and make recommendations accordingly to the Board of Trustees; new and revised HR policies; creation of new posts; major changes to the staffing structure; appeals for regrading; remuneration policy; appeals against disciplinary proceedings. The Remuneration and Nominations Committee shall also lead the process for board appointments and make recommendations to the Board.

In addition, to comply with Mines Regulations 2014, the Board of the Mine Operator has been established to carry out the general duties of the mine operator, as defined by Regulation 7 of the Regulations. Regulation 7 is the underpinning requirement of these Regulations. It is intended to secure a co-ordinated, proactive approach to the management of health and safety, which ensures that risks are properly controlled.

d. Policies adopted for the induction and training of Trustees

The Museum has and follows an approved policy for the induction and training of Trustees.

e. Pay policy for senior staff

sector and was reviewed during the 2018/19 restructure process. Rates of pay are overseen by the Remuneration and Nominations Committee on behalf of the Board of Trustees.

f. Organisational structure and decision making

Day-to-day management of the Museum is delegated by the Trustees to the Museum Director (Jenny Layfield). The Museum Director has been supported by the Senior Leadership Team comprised of Director of Finance, Planning and Performance (Julie Elliott) and Mine Director/Engagement (Shaun McLoughlin). The Museum employs the qualified mining staff required to conform with the Mines Regulations 2014.

The Museum has established a scheme of delegation to support appropriate decision-making from the Board of Trustees, through formal Committees to individual budget holders. Detailed financial procedures are reviewed on an annual basis.

g. Related party relationships

The Museum is the sole shareholder of National Coal Mining Museum Trading Limited, whose principal activities are the retailing of gifts, souvenirs and educational items associated with the mining industry, and the provision of catering and conference facilities.

The Museum received grant-in-aid funding from the Department for Digital, Culture, Media and Sport through the Science Museum Group.

The Museum is a member of three marketing consortia: Yorkshire Attractions, Experience Wakefield and Welcome to Yorkshire.

The Museum is a member of the European Route of Industrial Heritage and Wakefield Music Hub Partner Network.

There is an agreement in place between the Museum and the Coal Authority in relation to the pumping and treatment of water at the Museum.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

h. Risk Management

The Trustees operate and maintain a risk register which is examined at each quarterly meeting of the Finance & Audit the Mine Operator and kept under review as part of their regular meetings.

All significant activities undertaken by the Museum are subject to risk assessment. In 2020-21 the Museum developed its Covid Secure risk assessment and received positive feedback on this as part of a HSE review in October 2020. The HSE continue to play an active part in assisting us to mitigate our risks with a particular focus on our underground experience.

The Trustees have assessed the major risks to which the Museum is exposed, the predominant risk remains that related to the pandemic namely the ability of the Museum to maintain and operate a Covid Secure environment and the unknown implications for visitor numbers and resultant commercial spend linked to the aftereffects of the pandemic. The Museum maintains a close relationship with the Science Museum Group to understand the impact of the economic climate on funding streams and at the same time will continue to seek ways to increase self-generated income.

There is a risk of damage or loss to nationally important historically valuable assets due to the maintenance of buildings and storage of collections. The Museum commissions a quinquennial inspection of buildings which forms the basis for planned maintenance activities and has been the focus of the Department for Digital, Culture, Media and Sport funded capital works. Compliance is maintained with required standards for accreditation. The full Collections Review will provide the Museum with an up to date picture of its collections and will lead to a focussed plan of fundraising and conservation over the next plan period.

An area of risk that will become of increasing concern for the Museum will be in relation to the long-term continuation of the Mine. This year has flagged an increasing concern around reductions in the supply and increasing costs of technical skills and equipment within the Mining Sector. The Museum remains in close communication with the relevant bodies in order to understand the extent of the problems and work with partners, including the HSE, to understand the potential solutions.

Funds held as custodian

The National Coal Mining Museum for England Trust Limited is the custodian trustee of the British Coal Collection comprised in a deed of gift dated 30 June 1989 and a supplementary deed dated 21 December 1990. There are approximately 5,000 items within the collection situated in various stores around the Museum site.

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NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Trustees Responsibilities Statements

The Trustees (who are also directors of The National Coal Mining Museum for England Trust Ltd for the purposes of company law) are responsible for preparing the Trustees' Report (including the Strategic Report) and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the Financial Statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and its subsidiary and of the incoming resources and application of resources, including the income and expenditure, of the charitable company's auditor for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP 2019 (FRS102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the Financial Statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Group and the Museum and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and its subsidiary and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Museum's website. Legislation in the United Kingdom governing the preparation and dissemination of Financial Statements may differ from legislation in other jurisdictions.

Disclosure of information to auditor

In so far as the Trustees are aware:

there is no relevant audit information of which the charitable company's auditor is unaware, and

• the Trustee have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information.

This report was approved by the Trustees, on 10 September 2021 and signed on their behalf by:

Cllr Denise Jeffery, Trustee

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NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF NATIONAL COAL MINING MUSEUM FOR ENGL4ND TRUST LTD Oplnlon We have audited the financial statements of National Coal Mining Museum for En8land Trust Ltd (the 'parent charitable company'l and its subsidiaiies (the 'group'l for the year ended 31 March 2021 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the Museum balance sheet, the consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includinÉ Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the 8roup's and parent charitable company'5 affair5 a5 at 31 March 2021 and of the group'5 incoming resources and application of resources, includin8 Its income and expenditure for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prartice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those Standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'5 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained 15 Sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basi5 of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statement5 are authorised for Issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Page 25

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF NATIONAL COAL MINING MUSEUM FOR ENGL4ND TRUST LTD ICONTINUEDI Other Informatlon The Trustees are responsible for the other information. The other information comprises the information included in the trustee5' report, other than the financial st3ternent5fin3ricial statements and our auditor'5 report thereon. The trustees are responsible for the other information contained within the trustee5' report. Our opinion on the financial statements financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our re5pon5ibility is to read the other information and, in doing so, consider whether the other information 15 materially inconsistent with the financial Statements or our knowledge obtained in the audit or otherwise appear5 to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to è material misstatement in the financial statements themselves. If, based on the work we have perforrned, we conclude that there is a material mi55tatement of this Other inforrnation, we are required to report that fact. We have nothing to report in this regard. Opinions on othèr matters prèscribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees. report (incorporating the strategic report and the directors, reportl for the financial year for which the financial statements are prepared is consistent with the financial statements.. and. the strategic report and the directors. report have been prepared in accordance with applicable leeal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the group and parent charitable company and it5 environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires u5 to report to you if, in our opinion.. the parent charitable company has not kept adequate and sufficient accounting records, or return5 adequate for our audit have not been received from branche5 not visited by u5,. or the parent charitable company'5 financial staternent5financial statement5 are not in agreement with the accounting records and return5', or certain disclosures of director's remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Page 26

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF NATIONAL COAL MINING MUSEUM FOR ENGL4ND TRUST LTD ICONTINUEDI Responslb511tles of trustees As explained more fully in the trustees. responsibilities statement, the trustees (who are also the directors of the parent charitable cornpany for the purposes of company lawl are responsible for the preparation of the and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and the parent charitable company'5 ability to continue a5 a going concern, disc105ing, a5 applicable, rnatters re13ted to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed a5 auditors under the Companie5 Act 2006 and report in accordance with this Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance 15 a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISA5 IUKI will always detect a material mi5Staternent when it exists. Misstatement5 can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are in5tance5 of non-compliance with law5 and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our these are capable of detecting irregularities. including fraud is detailed below.. the enga8ernent partner ensured that the engagement team collectively had the appropriate cornpetence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations,. we identified the laws and regulation5 applicable to the charity through di5CU55ion5 Wlth management and tru5tee5 and from our knowledge and experiences of the sector,. we focussed on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operation5 of the charity, including Ch3ritle5 Act 2011, Companies Act 2006, data protection, employment and health and safety legislation lincluding Mine Regulations Act 20141; we assessed the extent of compliance with the laws and re8ulatitsns identified above through makin@ enquiries of managernent. identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We a55e5sed the 5U5ceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by- makin8 enquirie5 of management a5 to where they considered there wa5 susceptibility to fraud, their knowledge of Page 27

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF NATIONAL COAL MINING MUSEUM FOR ENGL4ND TRUST LTD ICONTINUEDI actual, suspected and alleged fraud- and considering the internal controls in place to mitigate risks of fraud and non-cornpliance with law5 and regulation5. To address the risks of fraud through management bias and override controls, we.. performed analytical procedures to identify any unusual or unexpected relationship5,' tested journal entries to identify unusual transactions,. assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias.. and investigated the rationale behind Significant or unusual transaction5. In response to the risk of irreeularities and non-compliance with laws and regulations. we designed procedures which included, but were not limited to.. agreeing financial statement disclosures to underlying supporting documentation.. readin8 the minutes of meetings of those charged with governance., enquiring of management a5 to actu31 and potential litigation and claims. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those leadinE to 3 material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transaction5 reflected in the financial statements, as we will be le55 likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion. omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's web51te at.. https'.//www.frc.org.uklOur-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for- auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or 3S5ume responsibility to anyone other than the charitable company and its members, a5 a body, for our audit work, for this report, or for the opinions we have formed. Page 28

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF NATIONAL COAL MINING MUSEUM FOR ENGL4ND TRUST LTD ICONTINUEDI 48 LLf Jane Marshall Isep 15. 102111..01 GMT+ii Jane Marshall Isenlor statutory audltorl for and on behalf of BHP LLP 2 Rutland Park Sheffield SIO 2PD Date: Sep 15, 2021 Page 29

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Total funds 2020 Note Income from: Donations and legacie5 Charitable activities 20,302 3.101,065 87,583 2,978 435,045 455,347 3.101,065 87,583 2,978 989,489 2,796.385 629,957 8.207 Other trading activities Investments Other income 487,259 487,259 Total income 3,699,187 435,045 4,134,232 4,424,038 Expenditure on: Raising funds Charitable activities 370,952 3.370,408 300 371,252 3.555,329 671.889 io 184,921 3,504,603 Total expenditure 3.741,360 185,221 3.926,581 4,176,492 Net lexpenditurellincome before net gainslllossesl on investments 142,1731 249,824 207,651 247.546 Net gainslllossesl on investments 19 306,714 306,714 190.5041 Net income before taxation 264,541 249,824 514,365 157.042 Taxation 16 8,808 8,808 113,2591 Net incomellexpenditurel Transfers between funds 273,349 53,494 249,824 153,4941 523,173 143,783 23 Net movement in funds before other recognised 8ains/llossesl Other recognised gainsll1055esl- Actuarial losses on defined benefit pension schemes 326,843 196,330 523,173 143.783 30 1235,0001 1235,0001 1104.0001 Net movèment in funds 91,843 196,330 288,173 39.783 Page 30

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Unrestrlcted funds 2021 Restrlcted funds 2021 Total funds 2021 Total funds 2020 Note Reconciliation of funds.. Total funds brought forward Net movement in funds 3.979,092 91,843 650,194 196,330 4.629,286 288,173 4.589.503 39,783 Total funds carried forward 4.070,935 846,524 4.917,459 4,629,286 The Consolidated statement of financial activities includes all gains and losses recognised in the year. Page31

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) REGISTERED NUMBER: 1702426 CONSOLIDATED BALANCE SHEET AS A T31 MARCH 2021 2021 2020 Note Fixed assets Tangible assets Heritage assets Investments 17 3.997,578 1.820,350 1.850,427 3,958.327 1,668,075 1,559.966 18 19 7.668,355 7,186,368 Currènt assets Stocks 20 34.067 26,887 Debtor5 21 360,445 1,222.274 230,671 971,332 Cash at bank and in hand 27 1,616.786 1,228,890 Creditors.. amount5 falling due within one year 22 1477,6821 1342,9721 Net turrent assèts 1.139,104 885.918 Total assets less current Ilabllltles 8.807,459 8,072.286 Net assets excluding pension liability 8.807,459 8,072,286 Defined benefit pension scheme liability 30 13,890,000) I3,443,￿oI Total nèt assets 4.917,459 4,629.286 Charlty funds Restricted funds 23 846,524 650,194 Unrestricted funds Designated funds General funds (including revaluation reserves £325,63012020.. £35,169) 23 5,725.8S2 5,792,254 23 2,235.083 1,629,838 Unrestricted funds excluding pension asset Pension reserve 23 7,960.935 13,890.ocKJI 7.422,092 13,443,000) 23 Ttstal unrestricted funds 23 4,070,935 3,979,092 Total funds 4.917,459 4,629.286 Page 32

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) CONSOLIDATED BALANCE SHEET ICONTINUEDI AS A T31 MARCH 2021 The Tru5tee5 acknowledge their responsibilitie5 for complying with the requirement5 of the Act with respect to accounting records and preparation of financial statements. e financial statements were approved and authorised for issue by the Trustees and siRned on their behalf bv.. Cllr D Jeffery ITru5teel Date- Dame Julie A Kenny OBE DL (Trustee) The notes on pages 37 to 70 form part of these financial statements. Page 33

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) REGISTERED NUMBER: 1702426 MUSEUM STATEMENT OF FINANCIAL POSITION AS A T31 MARCH 2021 2021 2020 Note Fixed assets Tangible assets Heritage assets Investments 17 3.997,578 1.820,350 1.850,428 3,958.327 1,668,075 1,559.967 18 19 7.668,356 7,186,369 Currènt assets Stocks 20 13.621 1,123 Debtor5 21 355,601 1,211.367 241,383 909,173 Cash at bank and in hand 1,580.589 1,151,679 Creditors.. amount5 falling due within one year 22 1472,6621 1322,2861 Net turrent assèts 1.107,927 829.393 Total assets less current Ilabllltles 8.776,283 8,015.762 Net assets excluding pension liability 8.776,283 8,015,762 Defined benefit pension scheme liability 30 13,890,000) I3,443,￿oI Total nèt assets 4.886,283 4,572.762 Page 34

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) MUSEUM STATEMENT OF FINANCIAL POSITION ICONTINUEDI AS A T31 MARCH 2021 2021 2020 Note Charlty funds Restricted funds 23 846,524 650,194 Unrestricted funds De5i8nated funds General funds (including revaluation reserves £325,63012020.. £35,169) 23 5,725.852 5,792,254 2,203,907 1,573,314 23 Unrestricted fund5 excluding p8nsion liabilitv Pension reserve 23 7,929,759 13,890.0001 7,365,568 13,443,000) 23 Total unre5trirted fund5 23 4.039,759 3,922,568 Total funds 4,886,283 4,572,762 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accountin8 records and preparation of financial Statements. The museum has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has ntst presented its own statement of financial activities in these financial statements. The surplus of the museum is £313.521 12020.. £10,313). The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Cllr D Jeffery ITru5teel Date: Dame Julle A Kenny OBE DL (Trustee) The notes on pages 37 to 70 form part of these financial statements. Page 35

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Note Cash flows from operatlng actlvltles Net cash provided by operatin8 activities 26 853.885 854,726 Cash flows from investing activities Dividend5 and interest frorn inve5tment5 2,978 8,207 1622.1741 1425,2571 296,684 1,129,881 1280.4311 11,115,685) Purchase of tangible fixed assets and heritage assets Proceed5 from Sale of inve5tment5 Purchase of investments Net cash used in investing artivities 1602.9431 1402,8541 Change in cash and cash equivalents in the year 250.942 4SI,872 Cash and cash equivalent5 at the beginning of the year 971,332 519,460 Cash and cash equlvalents at the end of the year 27 1,222.274 971.332 Page 36

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 General information The Museum is a company limited by guarantee. The members of the company are the Trustees named on page l. In the event of the Museum being wound up, the liability in respect of the euarantee is limited to £1 per member of the Museum. The address of the registered office is given in the charity information on page l of these financial statement5. Accountlng policles 2.1 Basis of prep¢7rotion oAfinonci¢71stotements The Museum constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFR5 1021. the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial staternents are prepared on a goin8 concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policie5 applied in the preparation of these financial statement5 are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The Consolidated statement of financial activities ISOFAI and Consolidated balance sheet consolidate the financial statements of the museum and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basi5. The museum has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements. The surplus of the museum is £313,52112020= £10,313). 2.2 Going concern The Trustees have considered the impact of COVID-19 on the Charity's activities, workforce and supply chain, as well as the wider economy. Whilst it is not considered practical to accurately assess the duration and extent of the impact. the Trustees are confident that they have in place plans to deal with any short and medium terrn financial10sse5 and cash deficits that may arise. The Board have prepared forecasts of income and expenditure and cash flow for the period to March 2023 which shows that they have sufficient reserves to be able to continue for the foreseeable future. Although there is no rea50n to a55urne a reduction, forecasts have been developed a55umin8 both a continuation of the current level of DCMS grant monies and also a potential reduction. Having considered these alternative scenarios the Trustees continue to adopt the going concern Page 37

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies Icontinuedl 2.3 Income All income is recognised once the Museum has entitlement to the income. after any performance conditions have been met, it 15 probable that the income will be received and the amount of income receivable can be measured reliably. For donations to be recognised the Museum will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this require5 a level of perforrnante before entitlernent can be obtained then income is deferred until those conditions are fully rnet or the fulfilment of those conditions is within the control of the Museum and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP IFRS 1021. Further detail is given in the Tru5tees' Annual Report. Trading income is received in exchange for supplying goods and services in order to raise funds and is recogni5ed when entitlement ha5 Octurred. Grants are recognised at fair value when the Museum has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement 15 not rnet then these amounts 3re deferred. Grants received for the acquisition of fixed assets are accounted for as restricted funds. The restricted fund is reduced by the depreciation or amortisation charges made over the expected useful life of the asset concerned. When capital projects are Completed, rnonie5 in restricted funds are transferred to a designated fixed a55et fund a5 the restriction has been di5char8ed. Other grants are treated as income and, where applicable, they are accounted for as restricted funds. Where the grant covers future accounting periods. the amount relating to future periods is deferred and recognised in the correct period. Income relating to the Coronavirus Job Retention Scheme is recognised in the period for which the funding is claimed. Page 38

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies Icontinuedl 2.4 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost5 related to the category. Expenditure is recogni5ed where there 15 a legal or con5trurtive obligation to make payrnents to third partie5, It is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds,. an(J Expenditure on charitable activities. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of di55eminating information in support of the charitable activities. Support cost5 are those that a551St the work of the Museum but do not directly represent charitable activitie5 and include office cost5, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Museum. Support costs and premises overheads have been allocated to cost of raising funds and expenditure on chaiitable activities on the basis of percentage of staff utilised on an activity. The analysis of these cost5 15 included in note 11. 2.5 Collections One of the key functions of the Museum is to acquire objects and keep them for posterity and. as a consequence, the Museum has a policy as regards to the disposal of any item5 in its collection. 2.6 Redundoncypayments Redundancy benefits are payable when employment is terminated before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Museum recogni5es redundancy benefits when it 15 cornmitted to terminating the employment of current employee5 according to a detailed formal plan without possibility of withdrawal. 2.7 Tax(rtion The Museum is considered to pass the tests set out in Paragraph 1 schedule 6 of the Finance Act 2010 and therefore it rneets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Museum 15 Potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. The trading subsidiary reco8ni5es tax in the consolidated statement of financial activities, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also reco8nised in other comprehensive income or directly in equity respectively. The prior year income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Page 39

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies Icontinuedl 2.8 Tangiblefixed ossets anddepreciution Tangible fixed assets are initially recoenised at cost or deemed cost. After recoEnition, under the cost model. tangible fixed a55et5 are rneasured at C05t les5 accumulated depreciation and any accumulated impairrnent 1055e5. All costs incurred to bring a tangible fixed asset into its intended working condition Should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives using the straight-line method. Depreciation is provided on the followin8 ba5es'. Freehold propertv Mine re5toratitsn & exhibiti(>n Mine restoration & exhibition Motor vehicles Office equipment & fittines Office equipment & fittings straight line over 50 years Straight line over 20 years lrnajtsr worksl Straight line over 10 years lrninor works) Straight line over 3-5 years straight line over 10 years Imajor worksl Straight line over 5 years Iminor work51 2.9 Heritage assets Where heritage assets have been purchased, they are initially recognised at cost. After recognition, under the cost model, heritage assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. Fair values for donated assets are estimated by reference to market prices using external valuation with appropriate expert15e. Where information on the cost or valuation of heritage assets is not available or the cost of providing such information significantly outweigh5 any benefit to the user5 of the account5 then heritage a55et5 are n(>t reco8nised on the balance sheet. Acquisititsns only arise when donated to the Museum or if it is believed that they will further the Museum's objectives. Once acquired they will be preserved by the Museum in order to keep their historical, art15tit, Scientific, technological, geophysical or environmental qualities to such a high level as to contribute to knowledge and culture. Heritage assets are to be held for the foreseeable future. 2.10 Investments Fixed asset inve5tment5 are a form of financial instrument and are initially recogni5ed at their transaction cost and 5ub5equently measured at fair value at the Balance sheet date, unle55 the value cannot be rneasured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'gainslllossesl on investments, in the consolidated statement of financi313ctivities. Investments in subsidiarie5 are valued at cost less provision for impairment. Page 40

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies Icontinuedl 2.11 Stocks Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase. costs of conversion and other costs incuried in bringing stock to it5 present location and condition. Cost 15 calculated Using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving Stock where appropriate. 2.12 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the arnount prepaid net of any trade discounts due. 2.13 Cush ut bonk und in hund Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three month5 or les5 from the date of acquisition or opening of the dep051t or similar account. 2.14 Liabilities Liabilities and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of econtsmic benefit will be required in settlement, and the amount of the settlement can be estimated reliablv. Liabilities are reco8nised at the amount that the Museum anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Page 41

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies Icontinuedl 2.15 Pension5 The Museum operates two defined contribution pension schemes and the pension charge represents the amounts payable by the Group to the fund5 in respect Of the year. The Museum a150 participates in the Local Government Pension Scheme ILGPSI. It is a defined benefits scheme and the assets of the scheme are held in a separate trustee administered fund which is subject to actuarial valuation. The a55et5 of the LGPS are measured at fair value and liabilities are measured on an attuarial basis U5in8 the roll forward method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to the operating surplus are the current service costs and the cost of the scheme introductions. benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the defined benefit liability/asset is a150 recogni5ed in the statement of financial activities and comprise5 the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obliEations. The difference between the interest income on the scheme a55et5 and the actual return on the scheme a5set5 is recognised in other recognised gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses. 2.16 Fund uccountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Museum and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purpose5. The aim arid use of each designated fund is Set out in the notes to the financial statements. Restricted funds are funds which are to be used in aCCOTdance with specific restriction5 imP05ed by donors or which have been raised by the Museum for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statement5. Page 42

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Criticol accounting estim(rtes und oreus ofjudgment Estimates and judgments are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Critical accountin8 estimate5 and as5umptions'. The Museum makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The main area of estimates and a5sumption5 that have a significant risk of causing a rnaterial adjustment to the carrying amounts of a55et5 and liabilitie5 Wlthin the next financial year relate to the estimate5 Used in valuing the Local Government Pension Scheme ILGPSI. The present value of the LGPS defined benefit liability depends on 3 number of factors that are determined on an actuarial basis Using a variety of assumptions. The assumptions used in determining the net C05tlincome for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 30, will impact the carrying amount of the pension liability. Page 43

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Income from donatlons and legacles Unrestrirted funds 2021 Restricted funds 2021 Total funds 2021 Total funds 2020 Donations Pit pony appeal Miner's Memorial Garden Appeal General donations 460 460 3,829 2,078 17,982 209,627 880 8,720 iioi 958 8,720 iioi 958 Brass checks Gift Aid 20,794 Revenue Gronts Pilgrim Trust Coalfield Conversations 789 789 10,871 200.021 52.906 52.906 EPIP Funding DCMS- Sponsored Museums Infrastruture Fund Others 72,749 72.749 240.wo 240.0￿) 440.wo 10,634 67,261 77.895 84,287 20,302 435,045 455.347 989,489 Total 2020 304,511 684,978 989,489 Income from charitable activities Unrèstricted funds 2021 Total funds 2021 Total funds 2020 Department of Digital, Culture, Media and Sport Coal Authority 2,453,￿0 648,065 2,453.OiXI 648,065 2,409,000 387,385 Totts12021 3,101.065 3,101,065 2,796.385 Total 2020 2,796,385 2,796,385 Page 44

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Income from other tradlng actlvlties Intome from non charitable trading artivities Unrestrlcted funds 2021 Total funds 2021 Total funds 2020 Shop Cafe income and conference income IS,674 10,432 61,477 15,674 10.432 61,477 127,606 322,620 179,731 On-51te events, sales and other trading Tota12021 87,583 87,583 629,957 Total 2020 629,957 629,957 Investment income Unrestrlcted funds 2021 Total funds 2021 Total funds 2020 Dividend income 2,939 39 2.939 39 4,761 3.446 other interest 2.978 2.978 8.207 Total 2020 8.207 8.207 Page 45

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 other Incomlng resources Unrestricted funds 2021 Total funds 2021 Total funds 2020 CJRS Income 487,259 487,259 Total 2020 Cost of ralslng funds Unrestricted lunds 2021 Restricted funds 2021 Total funds 2021 Total fund5 2020 Voluntary income costs Trading costs Investment management costs 119,577 232,182 300 119.877 232.182 163,477 489,453 19,193 19.193 18.959 Totts12021 370,952 300 371.252 671,889 Total 2020 671,889 671,889 Included in the above are support costs totalling £45,11712020.. £39,215). Page 46

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 io. Analysls of expendlture on charftable actlvltles Unrestrlcted funds 2021 Restrlcted funds 2021 Total funds 2021 Total funds 2020 Surface & underground Visitor services 2,467,950 902,458 174,405 10,516 2,642,355 912.974 2,571,843 932,760 3,370,408 184,921 3,555.329 3,504,603 Total 2020 3,354,114 150,489 3,504,603 Total funds 2021 Total funds 2020 Dlrert costs Support costs 2021 2021 Surface & underground Visitor services 2,347,456 740,573 294,899 2,642,355 912.974 2,571.843 932,760 172,401 3,088,029 467,300 3,555.329 3,504,603 Total 2020 3,017,255 487,348 3,504,603 Page 47

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 11. Support costs Surface & underground Visitor services Raising fund$ Totsl 2021 Total 2020 Finance. admin support and HR IT 1.893 13,582 38,397 17,463 27,480 7.940 23,415 66,197 30.107 47.376 38,119 73,307 28,389 38,264 5,353 2,435 3,831 22,447 10,209 16,065 Admin building5 and equipment Insurance Telephone, stationery and subscriptions Governance (note 121 Wages and 53laries National insurance 1.016 7,261 4.245 12.522 13,797 9.708 40.946 23.938 74,592 80,604 15.574 111,703 65.302 192,579 174,397 1,397 3,910 10,022 28,045 5,8S9 16,396 17,278 48.351 16,512 63,174 Pension cost5 Tot¢712021 45.117 294,899 172,401 512,417 526,563 Total 2020 39,215 323,817 163,531 526,563 Support costs are allocated based on employee cost per activity. 12. Governance costs 2021 2020 Trustee expenses Trustees meeting costs External auditor's remuneration I,iio 321 13.200 6,500 Internal auditor's remuneration 2,563 2.500 7,850 48.479 1,250 18,250 4,746 48,427 Legal fees Legal fee5- personnel Staff costs 74.592 80,604 Page 48

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 13. Net incomellexpenditurel 2021 2020 Thi5 15 st¢7ted afterch17rqinq.' Depreciation of tangible fixed a55et5 owned by the group Depreciation of heritage assets Interest on defined benefit pension 230.450 223,593 200.198 197.312 77.OiXI 69,￿0 During the year, no Trustees received any remuneration12020- £nill. During the year, no Trustees received any benefit5 in kind12020- £nill. During the year, no Trustees received reimbursement of expenses12020 - £672 reimbursed to 2 Trustee51 in relation to travel expenses. Trustees expenses of £nil12020'. £4381 have been paid directly to third parties. 14. Auditor's remuneration 2021 2020 Fees payable to the Museum's auditor for the audit of the group's annual accounts 10.625 10.700 Fees payable to the Museum's auditor in respect of.. All non-audit 5eivices not included above 2,575 I,S50 15. Staff costs 2021 2020 Wages and salaries Social security costs other pensitsn costs (Note 301 1.620.165 105,689 1.688.719 113,839 371,808 520,807 2.097.662 2.323,365 The above figures include total redundancy payment5 totalling £95,382 12020.. £nill. Thi5 represents the full arnount of the redundancy payments and has been recognised as an expense in the Staternent of Financial Activities. There have been no termination payments made during the year12020.' Enill. Page 49

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 15. staff costs Icontlnuedl The average number of persons employed by the museum during the year was as follows.. Group 2021 No. Group 2020 No. Mining and Operations Visitor Welcome, Retail and Bookings Curatorial and Education S4 59 22 17 Marketing and Promotion5 Finance and HR Management Team and Governance Fundraising and Development Cafe 12 16 iii The number of employees whose employee benefits lexcluding employer pension costs) exceeded £60,000 was.. Group Group 2020 No. 2021 No. In the band £60,001- £70,000 In the band £70,001- £80,000 The total amount of employee benefits including employers. pension and national insurance received by key m3nagernent personnel is E257,30812020 £267,684). The charitrf5 key management personnel are detailed on page l. 16. Taxation 2021 2020 Corpon7tion tqx Current tax on net income for the year Museums & Galleries Tax relief 13.259 18.8081 Tuxotion on net income 18.8081 13,259 Page 50

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 17. Tangible fixed asset5 Group and Museum Mine Mining restoratlon and Equlpment and exhibition Freehold property Motor vehicles Total Cost At l April 2020 Additions 6.311,477 104,956 33.039 1,847.194 83.872 421,579 80,873 8.613,289 269,701 At 31 March 2021 6A16,433 33.039 1,931.066 502,452 8.882,990 Depreciotion At l April 2020 Charge for the year 3.058,479 33.039 1,149.610 413,834 4.654,962 105,555 102,322 22,573 230,450 At 31 March 2021 3.164,034 33,039 1,251.932 436,407 4.885,412 Net book volue At 31 March 2021 3.252,399 679.134 66,045 3.997,578 At 31 March 2020 3,252.998 697,584 7,745 3,958.327 Page51

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Herltage assets Group and Museum A55ets recognised at cost Mlne restoration nd exhibition 2021 Freehold land and buildings 2021 Total 2021 Carrying value at l April 2020 Addition5 808.632 859,443 352,473 1176,1301 1.668,075 352,473 1200,1981 Depreciation 124.0681 Corrylng value ot 31 Murch 2021 784.564 1,035,786 1.820,350 Analysis of herita8e asset transactions Group und Museum 2021 2020 2019 2018 2017 Purch¢75es Underground Collections 157,777 59,660 30.240 4,990 Exhibition area5 352,473 Donatlons Collections 120,(￿0 Tot¢71 addition5 352,473 157,777 120,000 59,660 35,230 Page 52

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 18. Heritage assets Icontinuedl No heritage assets have been sold during the five years. The National Coal Mining Museum for England INCMMEI currently holds more than 45,000 objects in it5 acce55ioned collections. They cover the collection5 of the National Coal Mining Museum mainly from the immediate region- the national collection covering the English coalfields,. and the British Coal Collection. The latter is the surviving material from the historic collection of the nationalised industry (the National Coal Board. and later British Coal). It is a c105ed collection of nearly 5,000 acces5i0ned item5. The collections include examples of large machines of the late-twentieth century together with artefacts illustrating coal-mining engineering and technology., works of art.. social history; oral history,. printed ephemera.. photographs,. and book5. All aspert5 of the collection relate to coal mining a5 an industry or coal mining communities. The collection includes locornotive5, some of which are on loan to variou5 preservation societies. The library collection has been mainly acquired through the Coal Board and the closure of mining technical libraries. There are more than 18.000 catalogued items. There is one sienificant loan collection at the Museum.. banners from the Yorkshire Area of the National Union of Mineworkers. The Museum has a series of policies which cover all aspects of collections acquisition and disposal, collections management, access and conservation, in line with the requirements of Arts Council England's Accreditation scheme. The Museum 15 fully accredited as a non-5tatutory national mkJ5eum. Record keeping follows the Spectrum standard for collections. Items entering the Museum are recorded through entry documentation.. decisions relating to their addition to the collections go to an acquisition panel,. following adrnission into the collections objects are numbered I labelled with a unique ideritifier and given a museum record in the accession register and on the catalogue. Safe stora8e of the collections 15 part of the pre5ervatioN policy, which aims to follow the Benchmarks in Collections Care12002, updated 20181. Acces5 to the Collections takes a variety of forms.. through exhibition in the Museum's galleries,. virtually through the website,. for research and consultation by appointment with a curator,. for library collections by visit during library opening hours and/or appointment. There are no restrictions on supervised access unless for health and safety reasons. Disposals from the collection5 are 8enerally due to poor condition of object5', duplication or nonrelevance. All disposal decisions are made by the Board of Trustees. One of the key functions of the Museum is to acquire objects and keep them for posterity and, as a consequence. the Museum has adopted the policy set out in note 2.5 a5 regaids to the disposal of any iterns in it5 collection. Page 53

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 19. Fixed asset investments Listed investments Group Cost or valuotion At l April 2020 Additions 1.559,966 280,431 1296,6841 306,714 Disposals Revaluations At 31 Morch 2021 1,850,427 Net book vulue At 31 March 2021 1.850,427 At 31 March 2020 1,559,966 The historical cost of the listed investments is £1.524,79712020: £1.524,7971. Total investment management Costs for the year were £19,19312020'. £18,959). All the fixed asset investments are held in the UK. Page 54

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 19. Fixed asset investments Icontinuedl Investrnents in subsidiary companies Listed Investments Total Museum Cost or valuation At l April 2020 Additions 1,559,966 280,431 1296,6841 306,714 1,559,967 280,431 1296,6841 306,714 Di5P05als Revaluations At 31 March 2021 IA50,427 1.850,428 Net book vulue At 31 March 2021 1.850,427 1.850,428 At 31 March 2020 1,559,966 1,559,967 The Museum owns 100% of the ordinary share capital of National Coal Mining Museum Trading Limited Icompanv number 51221211 whose principal activities are the retail of gifts and souvenirs a55OClated with the miNin8 industry and the provision of cafe and conferencing facilities. At the year end, the aggregate capital and reserves of the company was £31,17712020.. £56,525) and the loss for the year was £25.34812020'. profit of £56.5241 Printipal subsidiaries The following was a subsidiary undertaking of the museum.. The financial results of the subsidiary for the year were.. 20. Stocks Group 2021 Group 2020 Museum Museum 2020 2021 Goods for resale 34.067 26.887 13.621 1.123 Page 55

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 21. Debtors Group 2021 Group 2020 Museum Museum 2020 2021 Due within one year Trade debtors 110,882 53,249 110,882 48,845 10,612 IIS,521 40,464 2S,941 Amounts owed by group undertakings Other debtors 166,877 32.105 50,581 116,980 163,864 30.093 50,762 Prepayments and accrued income Tax recoverable 42,476 17,966 360.445 230.671 355.601 241.383 22. Credltors.. Amounts falllng due wlthln one year Group 2021 Group 2020 Museum Museum 2021 2020 Trade creditor5 226.110 114,167 225.724 112,299 Corporation tax Other taxation and social security other creditors 13.259 31.262 81.874 31,337 89.048 31.262 81.791 29,860 89.048 Accruals and deferred income 138.436 95,161 133.885 91,079 477,682 342,972 472,662 322,286 Group 2021 Group 2020 Deferred income at l April 2020 Resources deferred during the year Amounts released from previous periods 15.683 50.OLXI 115.6831 50.0 The deferred income relates to grant funding received in advance to be matched to the revenue costs of the project. Page 56

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 23. statement of funds Statement of funds- current year alance at i Aprll ZOZO Transfers Inlout Galnsl (Losses) Balance at 31 March ZOZI Income Expendlture Taxatlon Unrestrictedfund5 Designatedfunds Repair and maintenance Emergencv Overseas and European work Collections 50,000 50,000 5,000 75,000 40,000 20,000 39,040 50,000 50,000 5,000 75,000 40,000 20,000 39,040 Display maintenance Cornputer maintenance Digital engagement Project Heritage buildings maintenance Investment portfolio reserve Apprenticeship scheme Fixed asset fund 200,000 50,000 77,998 30,000 5,155,216 200,000 50,000 92,521 30,000 5,074,291 14,523 1370,7531 289,828 5,792,254 1370,7531 304,351 5,725,852 Page 57

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 23. statement of funds Icontlnuedl GenerolAunds General 1.573,313 56,525 13.443,0001 3,673.081 26.106 13.107,1531 151,4541 1212,0001 8.808 1250,8571 306.714 2.203,906 31,177 1235.0001 13.890,0001 General tradiN8 subsidiary Pension reserve 11,813,162) 3,699.187 13,370,607) 8.808 1250,8571 71.714 11,654,917) Totol Unre5trictedfvnds 3.979,092 3,699.187 13.741,3601 8.808 53,494 71.714 4.070,935 Restrictedfvnds HLF Coalfield Conversations 221,344 66.358 186,3481 5,275 206,629 Apprenticeship 5cherne DCMS Capital Funding 2019 + 2020 EPIP Stable5 Grant 2,000 426,850 2,000 637,895 240.OiKI 72,749 53.809 460 128,9551 15,2481 153,8541 19,8131 13001 17031 167,5011 45 AIM Biffa Grant Pit Pony Appeal Miners Memorial Garden 9,353 15801 1861 Pilgrim Trust 789 650,194 435,045 1185,2211 153,4941 846,524 Totol ofAunds 4.629,286 4,134.232 13.926,5811 8.808 71.714 4.917,459 Page 58

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 23. statement of funds Icontlnuedl Statement of funds- prior year Balance at 31 March 2020 Balance at l April 2019 Transfers inlout Gainsl ILos5esI Income Expenditure Taxation Unre5trictedfvnds Designotedlunds Repair and maintenance Emergencv Overseas and European work Collections 50,000 50.WO 50,CM)O 50.1XJO 5,000 75.000 5,000 75.￿0 Display maintenance Computer maintenance Di8ltal engagement Project Heritage buildings maintenance Investment portfolio reserve Apprenticeship Scheme Fixed asset fund 40,000 20.wo 40,000 20.1XJO 39,040 200.wo 39,040 200.1XJO 50,000 50,000 78.693 89.809 190,5041 77.998 30,000 30,000 5.155.216 1383.1601 5.538.376 Page 59

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 23. statement of funds Icontlnuedl Statement ofAunds- prioryeqr fcontinuedj Balance at 31 March 2020 Balance at l April 2019 Transfers inlout Gainsl ILos5esI Income Expenditure Taxation 637,733 1383,1601 5,628,185 190,5041 5,792,254 Generulfunds General 2,496,555 27,055 13,023,000) 3,252,449 486,611 12,908,014) 1416,8281 1316,0001 11,267,677) 127,0541 1,573,313 56,525 1104,0001 13,443,000) General trading subsidiary Pension reserve 113,2591 1499,3901 3,739,060 13,640,842) 113,2591 11,294,731) 1104,0001 11,813,162) Tot¢71 Unrestrictedfvnd5 138.343 3.739,060 14,024.W21 113,2591 4.333.454 1194,5041 3.979.092 Restrictedfvnds Hope pit land, buildings ènd display Museum developrnent phase I Mèkine sense of mininE Miners memorial garden Miscellaneous 565.536 1565.5361 13,120,417) 1468.9631 163,3921 112.0301 3,120,417 468.963 63,315 17.652 2,078 42,880 12,0011 148.5021 Page 60

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 23. statement of funds Icontlnuedl Statement ofAunds- prioryeqr fcontinuedj Balance at 31 March 2020 Balance at l April 2019 Transfers inlout Gainsl ILos5esI Income Expenditure Taxation Coalfield Conversations 105,277 108,000 2,000 200,020 188,8371 4,884 1108,(X)01 221,344 Coal Meter Collection Apprenticeship scheme DCMS- Sponsored Mu5eum5 Infrastructure Fund 2,(x)O 426,850 440,000 113,1501 4,451,160 684,978 1152,4901 14,333,454) 650,194 Totol t7fAunds 4,589,503 4,424,038 14,176,492) 113,2591 1194,5041 4,629,286 DESIGNATED There are twelve designated reserves where the Trustees have set aside unrestricted funds to be used for particular objectives or projects. For those with material balances, the purposes of these are set out below.. Repair5 and Maintenance The repairs and maintenance fund is intended to cover items of recurrent expenditure which occur on a regular basis, but often less than annually. It relates particularly to mining-related expenditure, for example replacement of ropes and other underground safety measures. Page 61

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Emergencv By the nature of its purpose it 15 not Possible to predict future financi31 demands on the emergency fund. It wa5 set up to deal with any unforeseen emergency which might threaten the surviv31 of the Museum, for example problems with the building5, underground, site or 5hort-term financial difficultie5. Collections The collection5 fund allow5 for future acquisitions to the collections, ensuring the opportunity to acquire items, in line with the Museum's collections policy, will not be missed. Project The Museum runs with core funding from a revenue grant and traditionally for capital works, savings must be made from the revenue budget and/or external funding sought. Thi5 fund 15 intended to provide rnatched funding for external grants for capital projects and to provide short term financial solutions as required. Heritage Buildings Maintenance The heritage buildings maintenance fund covers non-routine costs that may arise specifically in relation to the historic external built-infrastructure on site. Investrnent Portfolio reserve The investment portfolio reserve was set up to ensure funds are available when required to meet reductions in the market valuation when markets are trending downwards. Fixed Asset Fund Thi5 fund represents the book value of all corrpleted tangible fixed as5et5 and heritage assets. This fund wa5 established during the prior year to capture the large elerrent of the group's overall funds that are represented by fixed assets. Note- funded capital assets where work is on-going rernain in their own restricted fund until the project is complete. RESTRicfED.' TRANSFERRED TO FIXED ASSET DESIGNATED FUND IN 2020 Hope Pit Land, Building5 and Display Hope pit land, buildin8s and displays includes grants from Entrust landfill tax and Heritage Lottery Fund. Museum Development Phase I Museum development phase l include5 a capital development grant from Heritage Lottery Fund and from national appeals. Page 62

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Making Sense of Mining Making 5en5e of rnining include5 8rant5 from Heritage Lottery Fund, buy-a-biick appeal, Wolf50n Museum5 and galleries irnpiovement fund, Garfield Weston Foundation and Charle5 Hayward Foundation. Minerfs Memorial Garden Miner's memorial garden include5 grant5 from the Arts Council, SITA Trust, Joicey Trust and two national appeal5. Miscellaneous Miscellaneous includes grants from Heritage Lottery Fund towards Collecting Cultures scheme. donations to help towards the expenses of feeding or maintaining the health and wellbeing of the horses and donations given to rnaintain collections at the Museum. Numerou5 grant5 have been given over the year5 to fund the purchase of individual capital items which, for the purposes of these financial staternents, were aggregated and termed miscellaneous. Coal Meters Collection Coal Meter5 Collection represents the carrying value of the collection donated by the Committee in June 2018, which 15 now Stored and maintained by the Mu5euni. EPIP Stables grant- transferred in 2021 This fund represented the grant from the East Peak Innovation Partnership, with capital funds secured from their LEADER programme to help support construction of the new Pony Discovery ce￿tre. RESTRicfED'. ONGOING FUNDED CAPITAL PROJEcrs Coalfield Conversations Coalfield Conversations include5 grants from the National Lottery Heritage Fund, with this project now in the third of four-years. Capital work to date consists of reconfiguration of the visitor welcome area including a bespoke audio-visual installation, as well as a comprehensive overhaul of site signage and wayfaring. DCMS Sponsored Museum Infrastructure Fund This fund represents income allocated by the DCMS in respect of specific essential capital improvement works on the Museum's Heritage Assets. collectively referred to as the Heapstead. The key element of thi5 is improvement works to the headstock, a5 well a5 restoration improvement5 on several building5 at Hope Pit. Page 63

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Transfers between funds There is a transfer each year to ensure the investment portfolio reserve represents 5% of the market value of the investment porrfolio. Page 64

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company limited by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 24. Summary offunds Summary of funds- current year alance at i Aprll ZOZO Transfers Inlout Galnsl (Losses) Balance at 31 March ZOZI Income Expendlture Taxatlon Designated funds General funds 5.792,254 11.813,1621 650,194 1370,7531 13.370,6071 1185,2211 304,351 1250,8571 153,4941 5.725,852 11.654,9171 846,524 3,699.187 435.045 8,808 71,714 Restricted funds 4.629,286 4,134.232 13.926,5811 8.808 71.714 4.917,459 Summary of funds- prior year Balance at 31 March 2020 Balance at l April 2019 Transfers in/out Gains/ (Lossesl Income Expenditure Taxation Designated funds General funds 637.733 1499,3901 4.451.160 1383.1601 13,640,842) 1152.4901 5.628.185 113,2591 11,294,731) 14.333.454) 190,5041 5.792.254 1104,0001 11,813,162) 650.194 3,739,060 684,978 Restricted funds 4,589.503 4,424,038 14,176.4921 113,2591 1194,5041 4,629.286 Page 65

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 25. Analysls of net assets between funds Analysis of net assets between funds- turrent year Unrestrided funds 2021 Restrirted funds 2021 Total funds 2021 Tangible fixed assets Fixed asset investments 3,676,175 1.850.427 321,403 3.997,578 1.850,427 Heritage assets Current assets 1,398,116 1.513.899 1477,6821 13.890.WOI 422,234 102,887 1.820,350 1.616,786 1477,6821 13.890,0001 Creditors due within one year Provisions for liabilities and charges Totul 4,070.935 846,524 4.917,459 Analysis of net assets between funds- prior year Unrestricted funds 2020 Restricted funds 2020 Total funds 2020 Tangible fixed assets Fixed asset investments 3,736.986 1,559,966 1,418.230 1,049,882 1342,9721 13,443,000) 221,341 3,958.327 1,559,966 1,668.075 1,228,890 1342,9721 13,443,000) Heritage assets Current assets 249,845 179,008 Creditors due within one year Provisions for liabilitie5 and charges Total 3,979,092 650,194 4,629,286 Page 66

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 26. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles Group 2021 Group 2020 Net income for the year las per Statement of Financial Activitiesl 523.173 143,783 Adjustment5Aor.' Depreciation charges Losses/gains on investments Dividends and interest from investments 430,648 1306.7141 12,9781 17.1801 1129,7741 134.710 212,0 420,905 90,504 18,2071 18681 16,996 1124,3871 316,000 Increase in stocks Ilntreaselldecrease in debtors Increaselldecreasel in creditors Pension 5cherne adjustments Net cosh pmvldedby opemtlng actlvltles 853.885 854.726 27. Analysis of cash and cash equivalents Group 2021 Group 2020 Cash in hand 1,222.274 971,332 Totol r05h andc05h equivalent5 1,222,274 971,332 Analysis of changes in net debt At l April 2020 At 31 March 2021 Cash flows Cash at bank and in hand 971,332 250,942 1,222,274 971,332 250,942 1,222,274 Page 67

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 29. Capital commitments Group 2021 Group 2020 Controctedlor but not pmvlded In theseflnanclulstatements Acqui51tion of heritage assets 94.601 101,619 Capital commitments relate to future expenditure in respect of Heritage Assets. These commitments all fall due within one year. Pension commitments Defined benefit scheme The Museum operates a defined benefit pension scheme for qualifying employee5 providing benefits based upon final pensionable pay. The scheme closed to new entrants during 2018119. The pension scheme is funded by the payment of contributions and assets of the plan are held in a separately administered fund. The most recent comprehensive actuarial valuation of pension scheme assets and the present value of the defined benefit obligation were carried out at 31 March 2019. Principal actuarial assumptions at the Balance sheet date (expressed as weighted averages).. At 31 March At 31 March 2021 2020 Discount rate 2.10 2.30 CPI inflation 2.70 Salary increases Pen5i0n increases 3.95 3.25 2.70 Pension accounts revaluation rate 2.70 At 31 March At 31 March 2021 2020 Years Years Mortality rates lin years) - for a male aged 65 now - at 65 for a male aged 45 now - for a female aged 65 now - at 65 for a female aged 45 now 21.9 21.8 22.6 22.5 24.6 25.8 25.7 Page 68

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Pension commitment5 Icontinuedl Sensltivity analysis At 31 March At 31 March 2021 2020 Discount rate +0.1% 423,0 1443.OLXII 451,0 1415.OLXII 443,000 1423.OLXII 430,￿0 1450,0001 457,(￿0 1423,0001 450,000 1430,0001 Discount rate-O.l% Mortality assumption- l year increase Mortality assumption- l year decrease CPI rate +0.1% CPI rate-O.l% The Group's share of the a5set5 in the scheme was.. At 31 March At 31 March 2021 2020 Equities Debt instruments 8,229.0 1,332,OCWJ 392.OtXI 6,629,000 1,257,000 385,000 Propertv Cash and other liquid assets Other 207,0 165.000 I62,￿0 120,000 Tot¢71fair value of ¢75sets 10,325.OLXI 8,553,000 The artual return on scheme assets was £1,863,00012020- £733,000 lossl. The amounts recogni5ed in the Consolidated statement of financial activities are as follows.. 2021 2020 Current service cost 1340.OLXII 1456,0001 I47.(￿0) 169,0001 I104,(￿0) Past service cost Interest cost 177.OLXII 1261,OCNJI Actuarial losses Totul amount recognlsed In the Consolldatedstutement ofJlnanclalactlvltles 1678.0001 1676.0001 Page 69

NATIONAL COAL MINING MUSEUM FOR ENGLANDTRUST LTD IA company Ilmlted by guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Pension commitment5 Icontinuedl Movements in the present value of the defined benefit obligation were as follows: 2021 Opening defined benefit obligation Current service cost 11.996,000 339,000 1.927,000 Actuarial gains Interest expense on defined benefit obli8atio Contributions by participants Net benefits paid out 272,000 58,000 1377,0001 Closing defined benefitobligution 14,215,000 Movements in the fair value of the Group's share of scheme assets were as follows.. 2021 Opening fair value tsf scheme assets Interest income 8.553,000 195,000 1.692,000 204,000 Actuarial losses Contributions by employer Contributions by participants Benefits paid 58,000 1377,0001 Clo5ingAqir volue of 5rheme q55ets 10.325,000 Defined contribution scheme The Museum operates two defined contribution pension schemes. The employer pension cost repre5ent5 contributions payable by the Museum to the funds and amounted to £31,80812020'. £17,807). Employer and employee contributions totallin8 £4.27712020.. £3.7961 were payable to the funds at the balance sheet date and re included within creditors. 31. Related party transactlons The charitable company owns 100% of its subsidiary National Coal Mining Museum Trading Limited. During the vear, expenditure was recharged of £nil to the subsidiary company12020.. £83,934) for wage5, service charges and rent. At the year end amounts totalling £nil12020.. £10,612) are included in debtors owed to the parent charitable companv. Page 70