**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
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## **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
- a. To preserve and develop the underground and historic site
- b. To conserve the collections and improve their storage facilities
- c. To collect and document material relating to coal mining in England
- d. To provide a centre for research into coal mining in England
2. To deliver engaging and exciting learning experiences across diverse audiences, through our tours, exhibitions, workshops, activities, events and use of spaces
- a. To interpret the site, and collections in the main galleries and underground to demonstrate the heritage of coal mining
- b. To provide exhibitions that illuminate and enliven the story of coal mining in England
- 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
3. 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.
4. 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**
## **(A company limited by guarantee)**
## **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**
## **(A company limited by guarantee)**
## **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
Page 16
## **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.
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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 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.
Page 23
## **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.
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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 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 cetre.
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