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← National Coal Mining Museum For England Trust Ltd

2025-03-31-accounts

Registered number: 01702426

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 2025

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the museum, its Trustees and advisers 1 - 2
Chair's statement 3
Trustees' report 4 - 39
Independent auditor's report on the financial statements 40 - 43
Consolidated statement of financial activities 44 - 45
Consolidated balance sheet 46 - 47
Museum balance sheet 48 - 49
Consolidated statement of cash flows 50
Notes to the financial statements 51 - 87

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE MUSEUM, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Mr P Marshall,Chair
Dr P Foreman BSc PGCE PhD PCIfA(appointed Vice Chair November 2024),Vice Chair
Cllr D Jeffery,Vice Chair(Resigned 8 November 2024)
Mr P Carragher
Ms T Channell-Napier ACMA,CGMA(Resigned 27 May2024)
Mr S Denton(Appointed 14 February2025)
Mr M Haworth(Resigned 15 July2024)
Ms L Hosking (Appointed 14 February2025)
Mr A Lynch ACA CTA
Ms P Thiedeman(Appointed 14 February2025)
Mr D Wilkin
Ms S Wilkinson MA(Cantab)OBE FRSA
Mr J Wilson FCA
Company registered
number
01702426
Charity registered number
517325
Registered office
Caphouse Colliery
New Road
Overton
Wakefield
WF4 4RH
Company secretary
Ms J Elliott CFCA MBA
Chief executive officer
Mine Director
Director of Finance,
Planning and Performance
Lynn Dunning
Shaun McLoughlin (Resigned 31 March 2025)
Gordon Dunn (Appointed 1 April 2025)
Julie Elliott
Independent auditor
BHP LLP
Statutory Auditor
Albert Works
Sidney Street
Sheffield
S1 4RG
Bankers
Barclays Bank plc
Trinity Walk Shopping Centre
Teall Way
Wakefield
WF1 1QS

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE MUSEUM, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

CHAIR'S STATEMENT

I was elected Chair of the Board in November 2023, and the last year has been a particularly exciting one which has moved us forward significantly in delivering our vision for the future. We are now in an excellent and robust position to take the Museum forward, to remember the history of coal mining, to share it with future generations, and to maximise the impact which the heritage of the coal mining industry has for people and communities now and long into the future.

We have further developed our Masterplan, a strategic vision for the next ten years, expanded and developed our award-winning learning provision and delivered high quality and impactful exhibitions, public programme and community engagement projects, and our volunteering programme has recovered to pre-pandemic levels.

We have installed our new winding engine, a significant piece of high-tech engineering work which saw the temporary closure of our underground offer for three months. This important project ensures the sustainability and future delivery of an underground experience for years to come. Many other improvements have been made across the Museum over the year, including the fantastic new Time Tunnel digital immersive experience. Thanks to a grant from West Yorkshire Combined Authority Rural Tourism fund, visitors can now explore three key periods in coal mining history in a former mineral line tunnel at Hope Pit. This new visitor offer helped sustain our visitor numbers during the closure of the underground and has enhanced our visitor offer across the surface permanently.

We have been working towards the launch of our Sustainability Strategy, following on from the commissioning of an Energy Strategy, and a successful graduate internship reviewing our green potential across all areas of our delivery.

Our staff and volunteers have continued to be passionate advocates and ambassadors for the story of coal mining, ensuring the stories are kept alive and relevant through innovative and creative programmes. With nearly 50 acres of land including a nature trail, water treatment plant, galleries, nationally significant collections, listed buildings, two historic collieries, a Scheduled Ancient Monument, a unique underground experience and our Pony Discovery Centre, we really do have something for everyone to enjoy; and we are very positive about what the future can bring as we continue to develop and invest.

I would like to mention two significant departures this year – Shaun McLoughlin our long-standing Mine Director has retired, and I thank him for his service to the Museum. We are delighted to have recruited Gordon Dunn to take the role forward. And, Denise Jeffery, former Chair and Trustee has stepped down after serving 10 years on the Board – we are incredibly grateful to her for all she has done for the Museum; and we know she will continue to be a wonderful advocate in her new role as Patron.

Finally, I would like to take this opportunity to thank the Executive and the whole team – staff, volunteers, fellow Trustees, and partners - for their ongoing commitment to this very special, and unique, place.

Mr Phil Marshall Chair of the Board of Trustees 12 September 2025

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their report and the audited Financial Statements of the Group and Museum for the year ended 31 March 2025. 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 Group and Museum.

The Financial Statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities 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:

Mr P Marshall, Chair

Dr P Foreman BSc PGCE PhD PCIfA, Vice Chair (Appointed as Vice Chair November 2024) Cllr D Jeffery (Resigned 8 November 2024)

Mr P Carragher MBE Mr D Wilkin Ms S Wilkinson MA (Cantab) OBE FRSA Mrs T Channell-Napier FCMA, ACMA (Resigned 27 May 2024) Mr M Haworth (Resigned 15 July 2024) Mr A Lynch ACA CTA Mr J Wilson FCA Ms L Hosking (Appointed 14 February 2025) Ms P Thiedeman MBE (Appointed 14 February 2025) Mr S Denton (Appointed 14 February 2025)

About the National Coal Mining Museum for England (NCMME)

The Museum is a Charity and a Company limited by guarantee. The Museum (as Yorkshire Mining Museum) opened to the public on 6 June 1988. It occupies two colliery sites, Caphouse Colliery and Hope Pit. Caphouse Colliery is a uniquely surviving colliery complex and its underground workings the very last surviving deep colliery in England. Together, our collieries, set in 50 acres of post-industrial landscape, are of national and international significance.

The Museum holds the British Coal Collection and because of its unique status and survival the Museum was granted national status by Government in 1995 to become the National Coal Mining Museum for England. The Museum is also a mine governed by The Mines Regulations 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.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The mine worked at least six seams during 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 there are over 30 buildings original to the site including the Pit Head Baths, the Screens, the Inman Pumping House, Steam Winding House, as well as a nature trail, play area, Pony Discovery Centre, Memorial Garden and train. Indoors there are extensive Museum gallery displays, education spaces for formal and informal learning, a shop, a café and a conference centre, there are also Museum stores and a public research library.

Caphouse Colliery

Objectives and Activities

a) Policies and objectives

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

Our vision is that the National Coal Mining Museum for England will be widely recognised for using innovative, sustainable, relevant, accessible and exciting ways to share the stories of coal mining and its legacy. As a must-see Museum and heritage attraction, and a significant part of the North of England’s visitor economy, we will provide a unique, enjoyable and distinctive experience for visitors.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The National Coal Mining Museum for England’s mission is to keep the stories of coal mining alive by collecting and preserving the industry’s rich heritage. We co-create enjoyable and inspiring ways for people of all ages, backgrounds and needs to engage with the history of coal and its legacy.

The Museum’s current strategic framework was given Board approval in November 2021 and implemented with effect from the 2022/2023 financial year.

The following Strategic Objectives are the basis of the strategic framework that enables the Museum to carry out our Charitable Objects. We will:

  1. Tell the inspiring story of coal mining - from zero to hero to net zero - becoming widely recognised for using innovative, modern and exciting ways to do this.

Strategies

Activities

As part of the implementation of our Masterplan we will design new galleries, exhibitions and public programmes to better share the stories of coal. We will explore the legacy of coal mining with increased focus on science, technology and engineering, and the role of mine water and other sustainable energies to reduce costs and carbon emissions. We will increase our use of digital technology as part of our storytelling. We will forge partnerships with other organisations who share our passion and expertise to advance the education of the public in the history of coal mining in England, including becoming better connected to relevant national and regional Museum networks, as well as providing leadership for our sector in sharing the stories of coal mining.

  1. Be a hub for our communities, including national, coal mining and local, creating opportunities for everyone to learn, share stories and celebrate coal mining, its history and culture.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Strategies

Activities

We will offer richer more accessible routes to engagement to grow our physical and online visitor numbers, developing new Learning and Community Engagement plans and helping to build a sense of place as we continue the stories of coal mining. We will continue to develop online opportunities to grow our audiences, in particular by working across England’s former coalfields communities.

  1. Preserve, maintain and develop the entirety of our site, underground and collections, investing in our people and deepening our governance and operational expertise to keep building on our success to date.

Strategies

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Activities

We will continue to strengthen our organisational capability in key areas through the implementation of the Masterplan and a three-year Forward Plan. We will continue to professionalise our organisation to maintain a culture of excellence, equality and diversity and continuous improvement. We will prioritise our strategy for succession planning particularly in key areas of our visitor offer such as the underground offer. We will develop and deliver our Commercial Strategy and our Fundraising Strategy to increase our self-generated income. Through organisational coaching sessions in 2024 the Museum team has developed and adopted a set of Organisational Values which were approved by the Board of Trustees in February 2025.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Grant funding is provided to the Museum by the Department for Digital, Culture Media and Sport through the Science Museum Group. The Museum reports against a series of performance indicators which allows the Museum to measure, monitor and report its performance on a consistent basis with other similar attractions across the Science Museum Group.

In November 2023 the Board of Trustees signed off an ambitious 10 year Masterplan. The Masterplan sets out a vision which will transform the visitor experience at the Museum by:

The delivery of the Masterplan will be phaseable and is underway.

  1. Transform our offer across the whole site, providing a fantastically resonant visitor experience.

Strategies

Activities

We will develop and implement a financial strategy to develop and deliver our Masterplan ambitions linked to our Strategic Objectives, ensuring detailed stakeholder consultation. We commit to audience led insight via annual Audience Agency base line survey, and other consultations to inform our focus. We will increase our evaluation and be able to effectively demonstrate our impact.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

  1. Collaborate with our fellow cultural and tourism partners in order to attract people to visit and engage with NCMME.

Strategies

Activities

We will develop a new Marketing Plan to support our programming and audience ambitions, playing an active role in local, regional and national networks and tourism initiatives. We will play an active role in attending local, regional and national events to showcase the Museum offer and increase accessibility.

b) Main activities undertaken to further the Charity’s purposes for the public benefit

The Trustees have had regard to the Charity Commission’s 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 coal mining.

Some of our activities for public benefit include:

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

c) Information on fundraising practices

During 2024/2025 all opportunities for support from grant giving bodies have been pursued. All fundraising activity carried out on behalf of the Museum during this year was undertaken by Museum staff, registered Museum volunteers or by Good Fundraising who have been contracted to provide fundraising support to the Museum. 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 2025, no complaints were received. A copy of the Fundraising Promise is freely available within the ‘Get Involved’ section of the Museum’s website and the Museum’s Complaints Policy is included in the ‘About Us’ section. 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.

STRATEGIC REPORT

Achievements and performance

a) Key financial performance indicators

The Museum is accountable for its performance to the Science Museum Group via a Memorandum of Understanding. Historically its success has been measured by performance against a number of key indicators which have gradually been restored to pre-Covid levels. It had however, been acknowledged that the necessary three months closure of the underground experience, for planned essential maintenance works, would have a detrimental impact on the 2024/2025 visitor numbers. In reality, despite the closure, actual visitors against target exceeded 88%. This, together with active income generation and expenditure control, mitigated any perceived financial loss within the overall operational budget.

b) Review of activities 2024/2025

Strategic Objective One: As the National Coal Mining Museum for England, we will tell the inspiring story of coal from zero to hero to net zero, becoming widely recognised for using innovative, modern and exciting ways to do this.

The Museum delivered a full and varied high quality public programme in 2024/2025 to deepen engagement with the story of coal mining and to encourage repeat visits.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Our Public Events Programme

Our annual Geology Rocks Day

40[th] Anniversary of the Miners’ Strike

We delivered a very strong public programme linked to the 40[th] anniversary of the Miners’ Strike. ‘The Poetry Business’ worked with poet Sarah Wimbush and the Museum to produce an anthology of poetry and other creative responses that encompassed the years leading up to the strike, the strike itself, and its aftermath. The anthology includes work from established poets, including Ian McMillan, Gillian Clarke and Paul Bently, alongside new voices and younger poets writing about communities affected by the resulting pit closures. Work by the photographers John Harris, Keith Pattison and Ken Wilkinson, who captured some of the most powerful and moving images of the strike, is also included in the anthology.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Throughout 2024 a series of workshops were held at the Museum that encouraged participants nationwide to develop their own creative responses to the anniversary of the strike, and some of these works are included in the anthology entitled COAL . A book launch for the anthology was held at the Museum in November 2024 with many of the poets reading extracts from their work.

We hosted a number of performances and film screenings linked to the anniversary including:

Ray Castleton performing his play Without Malice or Ill Will which tells the story of miner turned policeman Geoff Marsh and a decision that changed his career forever. It is based on Geoff Marsh’s experiences during the year of the strike and looks at his divided loyalties with his job, friends and the community where he lived.

Film screenings included The Battle For Orgreave (Yvette Vanson, 1985) and Still The Enemy Within (Owen Gower, 2014).

The film maker Rebecca Stills created a documentary film entitled Regeneration which tells the story of how the mining industry came to an end. It also discusses the 1984/1985 Miners’ Strike and looks at what life is like now in the Dearne Valley. The film was on show in the main galleries as part of the 84/85: The Longest Year exhibition.

A special screening of the film In the Veins was shown at the Museum to mark the end of the 1984/1985 Miners’ Strike. The film was shown alongside Yorkshire TV’s The Longest Year which had been screened on the evening of 2 March 1985. The film was commissioned by Teeside University and produced by the Yorkshire and NorthEast Film Archive. The film is a story of hardship and hope, division and defiance, perseverance and pride, which resonates through time to shine a light onto the face of the mining heritage of Yorkshire and the North East. The makers and produces of the film joined the screening for a Q&A.

Joanna Gilmore from the University of York discussed her research into the role of lawyers during the Miners’ Strike in 1984/1985. Three prominent lawyers joined Joanna and spoke about their experiences during that time and Matt Foot from Justice for Orgreave campaign talked about the enquiries that are ongoing today.

Our Exhibition Programme

We welcomed our new Collections Engagement Manager (Exhibitions) to the team at the end of September 2024, and she has been forging new partnerships with notable artists, academics and organisations. Our busy temporary exhibition programme included:

84/85 -The Longest Year 6 March 2024 – 9 March 2025

6 March 2024 marked the 40[th] anniversary of the start of the 1984/1985 Miner’s Strike. As this was an incredibly important event in the recent history of coal mining in England it was something the Museum felt needed to be acknowledged by way of a year-long exhibition and associated public programme.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

With the strike being a highly contentious historical event in the history of coal mining in the UK we brought in an external specialist to facilitate a number of workshops with the wider Museum team to identify the approach and potential content for the exhibition, and to identify potential challenges and difficulties with delivering the exhibition and associated public programme. Careful consideration and consultation took place to ensure the Museum addressed the broader picture of the strike and gave a voice to those who experienced it.

This exhibition drew heavily on the Museum’s oral history collection and considered the strike through memories and stories of miners and their families.

A public call out for people to share their stories and experiences was made and the Museum received an excellent response from people with a variety of experiences agreeing to be interviewed. The exhibition was shaped by these memories and objects from the collection and as a result of the public call-out, enabled us to approach the subject matter sensitively, basing the content on experience rather than opinion.

The exhibition looked at three different points of view:

The exhibition space was designed specifically with this sensitive subject matter in mind and allowed the visitor to choose the areas they were particularly interested in and to avoid the stories which they may have felt strongly about and not wish to engage with. It was also important to ensure there was an area for reflection and feedback within the space.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

84/85: The Longest Year exhibition

The Past is Gone But is Not Lost by Kevan Thompson 20 April – 1 September 2024

Artist Kevan Thompson created a collection of 22 striking artworks based on the oral history collection at the Museum. He researched the stories held in the collection which provided him with a unique insight into the lives and experiences of coal miners. Coupled with his own experience of growing up as the son of a miner, Kevan worked in oil, pastel and charcoal to create his response to the accounts he listened to. The exhibition will tour to the Kent Mining Museum in 2025.

Artist in Residence – James Brunt

1 August – 3 November 2024

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

A new space for displaying exhibitions and project work was created over the summer at the Museum, offering a flexible space to display artists in residence work, art exhibitions, project work, learning and engagement outcomes, as well as an area that can be used for consultation on our Masterplan going forward. The first exhibition to be housed here was work by our artist in residence, James Brunt.

James developed a series of work, inspired by and created within the Museum’s unique landscape which brings together the industrial past and its reliance on the natural world surrounding it. The exhibition displayed the outcomes of the residency in a series of works borne out of exploring the natural resources of a former colliery site.

Winding Down: Dismantling Coventry Colliery 14 December 2024 – 18 May 2025

The 11 drawings from the series by Arthur Lockwood in the NCMME collection, depict the dismantling of winding engines at Coventry Colliery as they were removed in 1997. The skilful drawings were displayed at a pivotal moment in the history of Caphouse Colliery when the underground was closed and works were being carried out to replace the winder. The exhibition helped to give visitors a visual insight into the important work that was being carried out to install the replacement winder.

From Coal Queens to Comedy Kings: Sculptures of Graham Ibbeson 18 January – 7 September 2025

A selection of mining-related sculptures by the renowned artist Graham Ibbeson MBE were brought together for a sitewide sculpture trail. Figures include Coal Widow, part of the Oaks Disaster Memorial on loan from the National Union of Mineworkers (NUM) as well as celebrated performers such as Eric Morecambe, Laurel & Hardy and Ken Dodd – all who have coal mining connections. Graham Ibbeson has created 20 mining memorials across the UK throughout his career including the Kellingley Memorial which was brought from the Colliery to the Museum in 2015.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Coal Widow by Graham Ibbeson

In addition to the residency above the Museum has offered two further Artist in Residence opportunities during 2024/2025.

Artist Patrick Murphy worked with the Museum’s collections to research the link between women and coal mining. Patrick spent time in the library and working with the collections to create an artistic response to the importance women such as Matilda and Emma Lister Kaye (former colliery owners), Betty Cook and Anne Scargill (Women Against Pit Closures) played in the heritage of coal mining.

The final residency, Animating the Collection, explored and reinterpreted several works in our fine art collection. Artists Lenny and Whale, and our team took original artworks into local schools for children to enjoy and experience. The children then created their own version of the works, and their drawings have been woven into the final design. Each artwork is interactive and comes 'alive' through augmented reality.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Animating the Collection by Lenny and Whale

Loans

Loans Received

We were fortunate to secure the loan of police riot gear and shield for the 84/85: The Longest Year exhibition. There were very few objects in the exhibition, so we wanted to ensure the objects we used had impact. This set of riot gear with shield is an iconic object of that time and resonates with the images associated with the Strike.

19 artworks were loaned to the Museum in January 2025 for the Coal Queen’s to Comedy Kings exhibition.

The Museum also continues to care for the 36 National Union of Mineworkers banners which are on long term loan to the Museum.

Loans Out

Several items remain on long term loan to Sheffield Museum and Galleries, Experience Barnsley Museum and Discovery Centre and Pleasley Pit Trust.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Museum continues to loan several locomotives from the collection to heritage groups around the country. In 2024/2025 a total of 10 locomotives were on loan to seven heritage trusts and railway Museums.

Strategic Objective Two: Be a hub for our communities, including national, coal mining and local; and we will create opportunities for everyone to learn, share stories and celebrate coal mining, its history and culture.

We have continued to review and expand our award winning formal and informal learning offer throughout 2024/2025.

Our school workshops continued to be popular with 10,025 children taking part in workshops or self-led visits at the Museum, exceeding our KPI targets, with an additional 786 children attending virtual workshops Funding from local charity Prosper provided coach travel for schools in areas of deprivation in Wakefield to attend new pilot outdoor learning school sessions.

A revised whole day workshop offer was developed for the period that the underground was closed (January to March 2025), with schools visiting the new Time Tunnel experience alongside a range of additional experiences including Dig Deeper, Rocks and Fossils, First Day at the Pit and the Victorian day workshop. These proved popular with schools, resulting in only a slight reduction in overall bookings from the 2023/2024 financial year despite the underground being closed for three months. We have also continued to build our innovative Home Educators programme with over 700 participants this year, as well as hosting a Home Educators Careers Day with support from local engineering firms and funding from West Yorkshire Combined Authority (WYCA,) as part of Wakefield UNESCO Festival of Lifelong Learning.

In September members of the Learning Team attended the Group for Education in Museums National Conference held in Bristol and presented on our Home Education Offer. Along with other cultural and heritage partners across the District, we contributed to a new suite of Wakefield Curriculum resources delivered by Spark (Local Cultural Education Partnership) as part of Our Year (Wakefield’s Year of Culture) and delivered CPD sessions to teachers to support their use.

We worked with Gary Clarke Dance Company on the Dancing Coalfields project with students from Shafton Academy, and with STEMunity and Amazelab to deliver a day of water-themed activities to 90 children from four secondary schools in February.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Our Clydesdale horse Finn meeting school children

We have worked with Open Country (a charity Helping People with disabilities to access and enjoy the countryside) to support green volunteering on our nature trail and outdoor spaces including balsam bashing, tree planting, making hedgerows and helping to deliver outcomes of new interpretation in Pit Wood Nature trail as part of UK Shared Prosperity Funding (UKSPF). The funding also enabled us to work with volunteers to renovate bird hides on the nature trail and create new bird feeders and bird boxes, develop and pilot a new minibeasts outdoor learning Key Stage 2 workshop with 120 pupils from schools with high levels of free school meals, and new Home Educator sessions, outreach SEND sessions, develop our volunteering offer and launch a suite of new backpacks to explore our nature trail.

Museum staff and volunteers marched with banners as representatives of the Museum at a number of events including Wakefield Pride with the new volunteer banner, marching at the front with members of the Lesbians and Gays Against Pit Closures group (the inspiration for the movie Pride ); With Banners Held High in Wakefield, marching in the parade with the English Coalfields banner to commemorate 40 years since the strike, and the Durham Miners Gala.

As part of our Christmas programming over 40 children from a local Primary School and Wakefield Family hubs were sponsored by local businesses and individuals to take part in festive experience: visiting Santa underground, doing craft activities and meeting our ponies. The funding also paid for the transport and lunch for all participants.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Our renovated bird hides on the nature trail

With thanks to a Connecting Culture grant from Wakefield Council we were able to continue our Youth Arts Festival for another year.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Members of our Youth Arts panel

The funding also enabled us to commission installations for our annual Light Up event, as well as lantern making workshops and a parade. Over 2,244 people took part in the event.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Lantern Parade at Light Up!

Our volunteer cohort continued to grow in number, adding immense value to our public programme and visitor welcome, welcoming schools, delivering talks, tours and hands-on activities for all ages, with volunteers also supporting in key behind the scenes roles in collections and marketing.

75 regular volunteers gave a total of 10,486 hours this year with new roles developed which included photography, Stay and Play, marketing, events and carparking along with supporting the horse keepers.

Corporate volunteering also grew this year with participants including Wakefield Trinity Community Foundation, West Yorkshire Combined Authority, local company Central Alliance and Wakefield College, supporting us with site maintenance and tree planting on our nature trail.

A Volunteer Forum was created with bi-monthly meetings to hear feedback and suggestions from representatives of each volunteer team. Opportunities were also provided for staff to attend the meetings and speak with volunteers about area of work.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Strategic Objective Three: Preserve, maintain and develop the entirety of our site, underground and collections, investing in our people and deepening our governance and operational expertise in order to be successful.

With identified efficiency measures, a balanced operational budget was approved by the Board in advance of the commencement of the 2024/25 financial year. The financial position to date, and the forecast to the end of the financial year, is monitored by the Executive and reported to the Finance and Audit Committee and subsequently the Board of Trustees as the year progresses. Following the identification of a number of key non pay expenditure priorities, designated reserves were allocated by the Board to allow works of a nonrecurrent nature to be progressed alongside the recurrent costs of the Museum and the public programme. Utilisation of these reserves is incorporated into the regular quarterly financial monitoring of the Museum.

Capital Works

As well as continuing to develop our long-term strategic development Masterplan, the replacement winding engine was our biggest capital project of 2024/2025, at a cost of circa £1.5M, ensuring the delivery of our underground offer well into the future.

We also commissioned a refreshed Quinquennial Survey to inform planning for capital investment across the historic site, as well as a Biodiversity Survey to inform our investment in nature in Pit Wood and across the wider site.

In 2024/2025, we made considerable progress in establishing a base and foundation for taking forward our work around coal’s legacy and exploration of low carbon technologies. In particular, we secured funding and delivered an outstanding postgraduate internship with the University of Huddersfield supported by Santander and completed an extensive Carbon Reduction Strategy and worked on a new Sustainability Strategy.

We secured funding from Department for Energy Security and Net Zero (DSNEZ) for a detailed feasibility study into creating a mine water heat network for the Museum, using mine water, which is already pumped from underground, and may have capacity to support other nearby institutions. In addition, a grant from the Yorkshire and North East Net Zero Hub will enable us to carry out a detailed feasibility of other low carbon technologies which may be introduced at the Museum to lower our carbon footprint, reduce costs and to act as an exemplar and inspirational showcase of associated engineering and innovation linked to the legacy of mining.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Installation of new winding engine that operates the cage to go underground

Acquisitions and Donations

The Museum continues to actively collect items to help tell the story of coal and its communities, to enrich and strengthen the collection and to address any gaps in collecting. This activity is governed by our Collections Development Policy which is regularly reviewed.

A total of 674 objects and books were formally accessioned into our collections during 2024/2025 with some notable items being:

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

George Mallalieu

Chalk and charcoal preparatory drawings

The Museum acquired three chalk and charcoal preparatory drawings, for the diptych painting ‘The Miners’ Strike 1984/1985’, oil on board, by George Mallalieu. The drawings show a line of police marching forward with shields and batons raised. The finished painting showed the police on one side with miners’ wives dancing showing their collective strength facing them.

His work was influenced by Picasso and Goya but sadly most of his work was lost in a fire at his studio in 2000, including the diptych for which these drawings were produced.

The drawings were very kindly donated to the Museum by his wife.

Blueprint of the Miners’ Institute in Whitwood by C.F.A. Voysey

The blueprint complements the table and three chairs already in the collection, also designed by C.F.A. Voysey for the Miners’ Institute.

The Museum was successful in securing funding for the conservation of the table and chairs, which will be going on display at the Museum in the future with the blueprint displayed alongside them.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

A Tale of Coalpit Bank by Jim Teague

The library received a donation of a self-published graphic novel based on the family history of the author and the Cinderloo Riots which took place in the East Shropshire coalfield in the early nineteenth century. Jim Teague was both author and artist of this book which is the first graphic novel the library has collected aimed at adults.

Busty G 24’s Salvage Men – Tom McGuinness Lithograph, 1982

Purchased at auction this lithograph shows a group of salvage men making their way down a mine roadway. In mining, a ‘salvage man’ refers to someone who is responsible for withdrawing and removing supports, equipment, and other materials from abandoned or closed mine roads. They essentially clean up and salvage resources from areas no longer in active use.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Enquiries

Enquiries continue to be consistently high for both the collections and the library:

Collections enquiries
292		 Collections enquiries
292
Libraryenquiries
307
Libraryvisits 432

There has been a substantial increase in visitors and researchers visiting the library to carry out research. A considerable amount of research carried out has been linked to the Miners’ Strike during the 40[th] year anniversary.

Conservation of Collections

Our standards of collections care and management were further improved with ongoing remedial and preventative conservation to items in the collection.

Two notable projects were the conservation of the Whistler etching, Eagle Wharf , 1859 which was cleaned, conserved, remounted and reframed and the successful application for the full conservation of the Voysey furniture in our collection, which is due to happen in 2025/2026.

Workforce Development

We continued with our focus on managing organisational change over the last 12 months as well as investing in professional development of our team. We attended and presented at several sector conferences including the Group for Education in Museums, and the Museums Association national conference. We have agreed a workforce Succession Plan with a focus on apprenticeships. Our current Electrical apprentices continued to make great progress in their learning and workplace-based experience at the Museum.

Strategic Objective Four: Transform our offer across the whole site, providing a fantastically resonant visitor experience.

Masterplan

Over the last 12 months we have made crucial progress towards the long-term redevelopment of the site and made short-term critical steps to improving the visitor experience, sustainability and audience appeal of the Museum.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

This has included creating a new mission, vision and core principles around how the Museum can and should be developed into the future, to maximise its relevance, impact and sustainability. We have mobilised interest and support in that process across internal teams, volunteers, and key external stakeholders, including nationally. We have delivered an in-depth review and appraisal of historic proposals for site development centred on feasibility, subsequent operational viability, sustainability and alignment with the Museum’s mission, vision and scale of ambition.

We secured £100,000 from the West Yorkshire Combined Mayoral Authority (Rural Tourism grant) for the delivery of The Time Tunnel, a new immersive experience exploring three key points in the history of coal mining.

We have also delivered vital incremental improvements to the Museum and visitor experience, including new orientation and arrival signage, directional signage and major new displays and graphics to be installed in Spring 2025, including new Miners at War exhibition cases, transformation of the Lamp Room arrival area and interventions in the Galleries which will introduce new themes, approaches and emphasis for our curatorial approach and audience engagement, telling stories of the English Coalfields.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The new Time Tunnel Experience

Marketing has played an important role in transforming our site’s offer, supporting a more connected visitor experience. By implementing new digital experiences both on-site and off-site through platforms like Bloomberg, we have enhanced engagement and accessibility. Our digital content strategy, including films and imagery on social media, website, and YouTube, has provided a more exciting and informative experience for visitors during their visit as well as before and after continuing that visitor experience. The creation of new marketing collateral, such as the nature trail map, supports the user journey. Using audience data from surveys, analytics, reviews, and comments has allowed us to enhance our offer to meet visitor expectations and motivations, continuously improving the on-site experience.

Strategic Objective Five: Collaborate with our fellow cultural and tourism partners in order to attract people to visit and engage with NCMME.

We have actively collaborated with our cultural and tourism partners, including Experience Wakefield, the Yorkshire Sculpture Park, and other regional destinations, to attract new and diverse audiences. By working together on marketing campaigns and events, we have targeted new demographics and encouraged crosstransfer of visitors across the region. Our participation in events such as the Rhubarb Festival helped us reach new audiences and showcase our offer. Additionally, we are exploring partnerships in areas such as group travel to further expand our reach and enhance the visitor experience. This collaborative approach ensures a vibrant and interconnected cultural landscape that benefits all involved.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Income for the year was £4,429,569 (2024: £4,934,282). Expenditure for the year was £4,575,249 (2024: £4,337,623), resulting in an operating deficit of £145,680 (2024: surplus of £596,659). A net gain on investments of £52,369 (2024: £127,835), a tax credit of £29,233 (2024: £11,677 credit) and an actuarial loss on the defined benefit pension scheme of £42,000 (2024: £3,000 gain) resulted in a deficit of £106,078 (2024: £739,171 surplus).

As at 31 March 2025 the Group held reserves totalling £10,539,429 (2024: £10,645,507), of which £223,798 (2024: £1,244,007) were held in restricted funds and £10,315,631 (2024: £9,401,500) were held in unrestricted funds. Included within unrestricted funds is £7,958,051 (2024: £7,117,975) of designated funds.

a) Going concern

The Trustees have considered the impact of inflation on the Charity’s activities, workforce and supply chain, as well as the wider economy and our current and potential visitors. Consideration has also been given to the potential impact of the wars in Europe and the Middle East and global influences impacting the investment market. 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 has considered the financial position of the organisation, the identified key financial risks in relation to visitor generated income, pay and site costs and confirms that there are sufficient reserves to be able to operate for the foreseeable future. The Trustees, therefore, 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 equating to circa 81% of its operational expenditure. Over recent financial years, through effective management of costs and the maximisation of income generating opportunities, the Museum has delivered modest operating surpluses. A consolidated breakeven budget for the 2025/2026 financial year has been approved by the Board of Trustees. The refreshed Forward Plan is based on an assessment made of the annual number of expected visitors, both formal and informal, together with the expected income generation potential and anticipated secondary spend. Financial support is also being generated by funding applications to external bodies. The Board has considered the Forward Plan, the financial implications and the developing Masterplan and is confident that they provide a robust and sustainable framework to deliver and develop the Museum’s offer in the short to medium term. Although not anticipated, any potential cash flow risks can be mitigated by reference to the Charity’s Investment Policy.

The Museum is often seen as a ‘free attraction’ and the challenge for both the Museum and the Trading subsidiary is to create attractive opportunities for visitors to visit, stay, return and contribute financially when on site and online.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Museum’s unique underground experience was closed, for planned essential maintenance, for the final three months of the 2024/2025 financial year and following an assessment of the catering offer and performance, the Board of the Trading subsidiary took the decision to close the onsite cafe for the same period pending a detailed review of the offer, linked to the future vision and development of the Museum. Although financial losses were mitigated in the main, the final 2024/2025 outturn of the Trading subsidiary is a marginal loss. The Board of the Trading Company has approved a Commercial Strategy developed as a framework for enhanced commercial opportunities to be delivered alongside the Museum’s Masterplan. The 2024/2025 trading loss can be managed within the accumulated brought forward reserves.

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 money to be spent on specific purposes that further one or more but not all of the Museum’s charitable purposes. The restricted reserves held, and their specific purposes are shown in note 22. The Museum does not hold any endowment funds within its restricted funds. Unrestricted funds are spent at the discretion of the Trustees to further the Museum’s purposes and to fund any net expenditure which may be incurred annually in excess of the Museum’s grant 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 fourteen designated reserves where the Trustees have set aside unrestricted funds to be used for particular projects or commitments and these are shown in note 22.

The Museum's free reserves as at 31 March 2025 comprised the following

Unrestricted reserves excluding pension liability
less: Designated funds - other
less: Designated funds represented by tangible and
Heritage assets
Free reserves		 £
10,315,631
(722,802)
(7,235,249)
2,357,580

The Reserves Policy has been reviewed and account taken of Charity Commission guidance (CC19). It is risk based and has been considered by the Finance & Audit Committee and approved by the Board.

A number of designated reserves have been allocated and released by the Board in the 2024/2025 financial year and utilisation of these reserves has been incorporated into routine financial monitoring and reporting. Free reserves as at 31 March 2025 were £2,357,580 which is £1,023,443 above the minimum of £1,334,137 required by our current reserves policy. The potential for allocation of further reserves will be reviewed as we develop and deliver our exciting and transformational plans for the future.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

d) Pension liabilities

The deficit on the Local Government Pension Scheme reduced to nil in 2023, was at nil in 2024 and remains at nil in 2025. The movements in assets and liabilities of the scheme are included in note 29 of these accounts. As more fully explained in note 29, the net pension surplus of £2,826,000 is not recognised in the balance sheet. During 2020/2021 the Trustees considered and challenged the assumptions underpinning the pension liability valuation and concluded that the assumptions are conservative and therefore the risk of overstating the net asset value on the Balance Sheet is minimal. The Trustees are not aware of any changes to these assumptions in relation to the 2024/2025 financial year. 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 approved balanced budget.

e) Principal funding

In the financial year 2024/2025 the Museum received £2,603,040 grant 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 represents a significant proportion of the Museum’s total annual income, with the other main sources including grants for specific projects, donations, Mining Remediation Authority (formerly The Coal Authority) support and trading activities.

f) Investment performance

The Museum’s funds are governed by the Trustee Act 2000 and Charity Commission guidelines. A decision was taken some years ago to invest the reserve funds with a low tolerance towards risk in order to protect the capital sum. Early in 2018/2019, following advice from Robertson Baxter the Museum’s investment advisor, the Board of Trustees took the 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 recognised stock exchanges. Trustees regularly review and monitor performance and there is a scheduled reassessment of the Trustees’ attitude to investment risk which influences the risk tolerance within the investment portfolio.

Following a positive investment performance in 2023/2024, the value of the Museum’s investments were up a further 2.76% over the 12 month period to 31/03/2025.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The year to 31 March 2025 was shaped by persistent economic uncertainty and a shifting political landscape due to the multiple elections across the globe. Interest rates remained elevated for much of the period, with central banks, including the Federal Reserve and Bank of England, holding off on cuts amid stubborn inflation and economic data, however, we have seen rates start to steadily come down towards the end of the period. Meanwhile, global equities benefited from sustained enthusiasm for Artificial Intelligence, with the large U.S. tech stocks once again outperforming.

Political developments added further complexity, with the re-election of Donald Trump in November triggering sharp market reactions. In Q1 2025 markets felt the impact of President Trump’s announcements on new tariffs on key trading partners. These moves raised fears of trade tensions and inflationary pressures, leading to volatility across equity markets. However, our Schroder Active Portfolio 4 was largely protected from the headline volatility due to its more defensive approach.

Robertson Baxter, guided by our investment managers, have a cautiously optimistic outlook for the upcoming year, but are mindful of risks. Since tariffs tend to reduce inflation in Europe, rate cuts there may happen faster. In the US, tariffs raise import prices in the short term, so the Federal Reserve might move more slowly. Still, we expect overall policy to become more growth focused to offset the negative effects of tariffs. Besides trade talks, markets will also react to how governments and central banks respond to slower economic growth. However, ongoing geopolitical tensions, trade policies, and different central bank responses could create volatility. As the Museum’s portfolio is relatively conservative in terms of investment risk, it’s defensive position should help to reduce the impact of any potential equity market downturns, and as such it has been agreed that no action is required at present. The Board’s appetite for investment risk is regularly reviewed to ensure the investment portfolio remains appropriate, and we will continue to ensure that this takes place.

g) Plans for future periods

2024/2025 has been an exciting year of refresh following the appointment of our new Chief Executive Officer. The vision and mission of the Museum have been reviewed and restated, priorities have been revisited and the Senior Leadership Team expanded, in order to drive the organisation forward. Relationships with funding partners have been strengthened and alongside the Masterplan and the Commercial Strategy, opportunities are being actively sought to increase the self-generated income of the Charity.

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 coal 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.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

This means we collect, preserve, display and interpret whatever relates to the coal industry in England 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

10 Trustees are currently in post, their recruitment has been through a proper process of skills audit, and appropriate open competition for places. Three new Trustees were appointed at a meeting of Members in February 2025. A recruitment exercise will be considered in 2025 for the final vacant role, alongside a review of terms of office and analysis of the skills and diversity audits to inform the process. Formal induction and on-going training of Trustees is in place. Work towards a Board Diversification Plan has commenced. The Board is supported by the following formally constituted Committees, each having Terms of Reference. The Terms of Reference for the Finance and Audit Committee and People and Culture Committee were reviewed and updated by the Board of Trustees during the year.

Finance and Audit Committee – The Finance and Audit Committee consists of at least four Trustees, but no more than five, who are appointed for the duration of their appointment to the Board of Trustees. The Committee is charged with advising the Board on its financial responsibilities by supporting the Trustees to fulfil their financial responsibilities and verify that the Museum is operating within the financial requirements and guidelines set out in law, regulation and the Museum’s governing documents.

People and Culture Committee (formerly Remuneration and Nominations Committee) - The People and Culture Committee consists of at least four Trustees, but no more than five, who are appointed for the duration of their appointment to the Board of Trustees. The Committee considers the following items and makes 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 People and Culture Committee also leads the process for Board appointments and makes recommendations to the Board.

Mine Owner/Operator - The Mines Regulations 2014 were introduced to replace the previous extensive prescriptive mining legislation that had evolved and had been amended over many years. The stated aim of these regulations is to provide a ‘comprehensive and simpler goal-setting legal framework to ensure that mine operators provide all the necessary protection for mineworkers and others from the hazards inherent to mining’.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The definition of Mine remains the same as in previous Health & Safety law. This includes any Mine extracting mineral, Mines that are not currently extracting mineral and Mines that originally extracted mineral but are now used for other purposes e.g. Tourism. This definition of a Mine also extends to those surface structures required for the working of the mine.

The National Coal Mining Museum is therefore classed as a Mine in law.

The Board of Trustees for the National Coal Mining Museum for England are the mine owner / operator, and they should satisfy themselves that they have in place sufficient resources to operate the mine safely, including, financial resources and access to experienced and where necessary, competent staff, having due regard to any major hazard risks that may be present. The Mine Director and Head of Estate Management formally reports to each quarterly meeting of the Board.

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

The pay and remuneration of the Museum’s key management personnel is benchmarked against similar roles in the sector and was reviewed during 2023/2024. Rates of pay are overseen by the People and Culture Committee (formerly known as the Remuneration and Nominations Committee until 12 July 2024) on behalf of the Board of Trustees, except for the CEO whose pay award is subject to a performance review with recommendation being presented by the Chair to the Board for approval

f) Organisational structure and decision making

Day-to-day management of the Museum is delegated by the Trustees to the Chief Executive Officer. The CEO has been supported by the Executive comprised of Director of Finance, Planning and Performance (Julie Elliott), Mine Director and Head of Estates Management (Shaun McLoughlin – resigned 31 March 2025 / Gordon Dunn – appointed 1 April 2025). The Museum employs competent 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.

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

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

The Museum is a member of two marketing consortia: Yorkshire Attractions and Experience Wakefield.

The Museum is a member of the European Routes of Industrial Heritage, the Museums Association and the Association of Independent Museums. The Museum is also an active member of the business network We are Wakefield.

There is an agreement in place between the Museum and the Mining Remediation Authority (formerly The Coal Authority) in relation to the pumping and treatment of water at the Museum.

h) Risk Management

The Trustees operate and maintain a risk register which is examined at each quarterly meeting by the Finance & Audit Committee and Board of the Trustees, included in which are High/Medium/Low risk categorisations. The risk register is “owned” by the Executive Team and kept under review as part of their regular meetings.

All significant activities undertaken by the Museum are subject to risk assessment.

The Trustees have assessed the major risks to which the Museum is exposed. These include:

Further risks mitigated through the year included:

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Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Board continue to keep these risks under review and are supporting the Executive as plans are put in place to mitigate the impact.

In addition, the Board has introduced and is developing the embedding of a Board Assurance Framework – a management tool to measure and monitor risks to the delivery of the Museum’s Strategic Objectives.

i) Trustee indemnity

The Company has made qualifying third-party indemnity provisions for the benefit of its directors which were made during the year and remain in force at the date of this report.

j) 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.

k) 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 of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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

Page 38

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

In so far as the Trustees are aware:

In approving the Trustees’ report, we also approve the Strategic report included therein, in our capacity as company directors.

This report was approved by the Trustees, on 12 September 2025 and signed on their behalf by:

Signer ID: VGNPXZEGAX...

Mr Philip Marshall, Chair

NATIONAL COAL MINING FOR ENGLAND TRUST LTD

Page 39

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

We have audited the financial statements of National Coal Mining Museum for England Trust Ltd (the ‘parent charitable company’) and its subsidiary (the 'group') for the year ended 31 March 2025, which comprise the consolidated statement of financial activities, the consolidated balance sheet, the company balance sheet, the consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor 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 UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is 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 and parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements 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.

Other information

The other information comprises the information included in the trustees' report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the 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 responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

Page 40

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

(A company limited by guarantee)

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD (CONTINUED)

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements 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 and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

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 is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements 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.

Page 41

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD (CONTINUED)

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the susceptibility of the charitable group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

To address the risks of fraud through management bias and override controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a 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 transactions reflected in the financial statements, as we will be less 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.

Page 42

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

(A company limited by guarantee)

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD (CONTINUED)

A further description of our responsibilities is available on the FRC's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s 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 assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Signer ID: WKOLTHN6RI... Rachel Heath (Senior Statutory Auditor)

for and on behalf of

BHP LLP

Statutory Auditor Albert Works Sidney Street Sheffield S1 4RG

Date: 16/09/2025 GMT

Page 43

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net (expenditure)/income before net
gains on investments
Net gains on investments
18
Net (expenditure)/income before taxation
Taxation
15
Net (expenditure)/income
Transfers between funds
22
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
Actuarial (losses)/gains on defined benefit
pension schemes
29
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
298,366
3,002,551
528,429
157,684
3,987,030
724,761
3,780,255
4,505,016
(517,986)
52,369
(465,617)
29,233
(436,384)
1,392,515
956,131
(42,000)
914,131
9,401,500
914,131
10,315,631		 Restricted
funds
2025
£
442,539
-
-
-
442,539
75
70,158
70,233
372,306
-
372,306
-
372,306
(1,392,515)
(1,020,209)
-
(1,020,209)
1,244,007
(1,020,209)
223,798		 Total
funds
2025
£
740,905
3,002,551
528,429
157,684
4,429,569
724,836
3,850,413
4,575,249
(145,680)
52,369
(93,311)
29,233
(64,078)
-
(64,078)
(42,000)
(106,078)
10,645,507
(106,078)
10,539,429		 Total
funds
2024
£
1,303,237
2,966,050
564,350
100,645
4,934,282
649,818
3,687,805
4,337,623
596,659
127,835
724,494
11,677
736,171
-
736,171
3,000
739,171
9,906,336
739,171
10,645,507

Page 44

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The Consolidated statement of financial activities complies with the requirements for an income and expenditure account under the Companies Act 2006 and includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Page 45

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

REGISTERED NUMBER: 01702426

CONSOLIDATED BALANCE SHEET

AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
16
Heritage assets
17
Investments
18
Current assets
Stocks
19
Debtors
20
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one year
21
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
Defined benefit pension scheme liability
29
Total net assets
Charity funds
Restricted funds
22
Unrestricted funds
Designated funds
22
General funds (including revaluation reserves
£173,990 (2024: £209,283)
22
Total unrestricted funds
22
Total funds		 46,485
231,870
1,964,425
2,242,780
(1,003,600)
7,958,051
2,357,580		 2025
£
3,416,985
3,904,683
1,978,581
9,300,249
1,239,180
10,539,429
10,539,429
-
10,539,429
223,798
10,315,631
10,539,429		 24,718
141,547
2,662,146
2,828,411
(364,747)
7,117,975
2,283,525		 2024
£
3,496,474
2,768,227
1,917,142
8,181,843
2,463,664
10,645,507
10,645,507
-
10,645,507
1,244,007
9,401,500
10,645,507

Page 46

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Signer ID: VGNPXZEGAX................................................... Signer ID: 37VZKSOG99................................................... Mr P Marshall Dr P Foreman BSc PGCE PhD PCIfA (Chair) (Vice Chair) Date: 13/09/2025 GMT

The notes on pages 51 to 87 form part of these financial statements.

Page 47

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

REGISTERED NUMBER: 01702426

MUSEUM BALANCE SHEET

AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
16
Heritage assets
17
Investments
18
Current assets
Stocks
19
Debtors
20
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one year
21
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
Defined benefit pension scheme liability
29
Total net assets		 17,204
237,251
1,927,554
2,182,009
(979,941)		 2025
£
3,416,985
3,904,683
1,978,582
9,300,250
1,202,068
10,502,318
10,502,318
-
10,502,318		 8,492
172,619
2,573,548
2,754,659
(342,422)		 2024
£
3,496,474
2,768,227
1,917,143
8,181,844
2,412,237
10,594,081
10,594,081
-
10,594,081

Page 48

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

MUSEUM BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

2025 2024
Note £ £
Charity funds
Restricted funds 22 223,798 1,244,007
Unrestricted funds
Designated funds 22 7,958,051 7,117,975
General funds (including revaluation reserves
£173,940 (2024: £209,823)) 2,320,469 2,232,099
22
Unrestricted funds excluding pension liability 22 10,278,520 9,350,074
Total unrestricted funds 22 10,278,520 9,350,074
Total funds 10,502,318 10,594,081

The museum's net movement in funds for the year was £(91,763) (2024 - £749,714).

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Signer ID: VGNPXZEGAX................................................... ................................................Signer ID: 37VZKSOG99... Mr P Marshall Dr P Foreman BSc PGCE PhD PCIfA (Chair) (Vice Chair) Date: 13/09/2025 GMT

The notes on pages 51 to 87 form part of these financial statements.

Page 49

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Net cash provided by operating activities
25
Cash flows from investing activities
Dividends, interests and rents from investments
Purchases of tangible fixed assets and heritage assets
Proceeds from sale of investments
Purchase of investments
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
26		 2025
£
166,009
90,684
(945,344)
674,479
(683,549)
(863,730)
(697,721)
2,662,146
1,964,425		 2024
£
1,072,666
70,645
(419,873)
597,122
(599,010)
(351,116)
721,550
1,940,596
2,662,146

Page 50

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

(A company limited by guarantee)

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. General information

The National Coal Mining Museum is a company limited by guarantee. In the event of the Museum being wound up, the liability in respect of the guarantee is limited to £1 per member of the Museum. The address of the registered office is given in the charity information on page 1 of these financial statements.

2. Accounting policies

2.1 Basis of preparation of financial statements

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 accounts 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 (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going 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 policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The consolidated statement of financial activities (SOFA) 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 basis.

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.

2.2 Going concern

The Trustees have considered the impact of inflation on the Charity’s activities, workforce and supply chain, as well as the wider economy and our current and potential visitors. Consideration has also been given to the potential impact of the wars in Europe and the Middle East and global influences impacting the investment market. 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 has considered the financial position of the organisation, the identified key financial risks in relation to visitor generated income, pay and site costs and confirms that there are sufficient reserves to be able to operate for the foreseeable future. The Trustees, therefore, continue to adopt the going concern basis of preparation for these financial statements.

Page 51

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Museum has entitlement to the income, after any performance conditions have been met, it is 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 requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met 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 (FRS 102). Further detail is given in the Trustees’ Report.

Trading income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

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 is not met then these amounts are 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, monies in restricted funds are transferred to a designated fixed asset fund as the restriction has been discharged. 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.

Page 52

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.4 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, 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:

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those that assist the work of the Museum but do not directly represent charitable activities and include office costs, 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 charitable activities on the basis of percentage of staff utilised on an activity. The analysis of these costs is included in note 10.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

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 items in its collection.

2.6 Redundancy payments

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 recognises redundancy benefits when it is committed to terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal.

2.7 Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Page 53

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.8 Taxation

The Museum is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Museum is 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.

Tax is recognised in corporate subsidaries.

As a charitable company, the charity is able to make a claim in relation to museums and exhibitions tax reliefs. The tax credit is recognised in the accounts on an accruals basis, where the amounts can be reliably measured by the date of approval of the accounts.

2.9 Tangible fixed assets and depreciation

All assets, individually, or as a group of assets, costing more than £5,000 are capitalised and are initially recognised at cost or deemed cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 following bases:

Freehold property - Straight line over 50 years
Mine restoration & exhibition - Straight line over 20 years (major works)
Mine restoration & exhibition - Straight line over 10 years (minor works)
Assets under construction - Not depreciated until fully operational
Motor vehicles - Straight line over 3 years
Mining equipment & fittings - Straight line over 10 years (major works)
Mining equipment & fittings - Straight line over 5 years (minor works)
Exhibition and operational assets - Straight line over 3-15 years
Office equipment and fittings - Straight line 3-15 years

With effect from 1 April 2024, the Charity’s art and heritage collection exhibits are not depreciated. This is a departure from the general requirements of the Companies Act 2006 and Charities SORP (FRS102) for all tangible fixed assets to be depreciated. The Trustees are of the opinion that such treatment is necessary to give a true and fair view.

Page 54

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.10 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 expertise.

Where information on the cost or valuation of heritage assets is not available or the cost of providing such information significantly outweighs any benefit to the users of the accounts then heritage assets are not recognised on the balance sheet.

Acquisitions 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, artistic, 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.

Depreciation is charged on the same basis as above in note 2.9.

2.11 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘gains/(losses) on investments’ in the consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.12 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 incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

2.13 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.14 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 55

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.15 Liabilities and provisions

Liabilities 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 economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised 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.

2.16 Pensions

The Group operates two defined contribution pension schemes and the pension charge represents the amounts payable by the Group to the funds in respect of the year.

The Group also participates in the Local Government Pension Scheme (LGPS). 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 assets of the LGPS are measured at fair value and liabilities are measured on an actuarial basis using 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 results 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 also recognised in the statement of financial activities and comprises 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 obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses.

Actuarial gains and losses are recognised immediately in other recognised gains and losses.

2.17 Fund accounting

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 purposes. The aim and 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 accordance with specific restrictions imposed 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 statements.

Page 56

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3. Critical accounting estimates and areas of judgment

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 accounting estimates and assumptions:

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 assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year relate to the estimates used in valuing the Local Government Pension Scheme (LGPS).

The present value of the LGPS defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost/income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 28, will impact the carrying amount of the pension liability.

Page 57

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4. Income from donations and legacies

Donations
Pit pony appeal
Miner's Memorial Garden Appeal
General donations
Brass checks
Gift Aid
Grants
WYCA Time Tunnel
Coalfield Conversations
DCMS - Winder Funding 2023/2025
DCMS - PBIF
Enliven
Post Code Lottery
Connecting Cultures WMDC
Garfield Western Foundation
UKSPF
WYCA
Idlewild Trust
Total 2024		 Unrestricted
funds
2025
£
-
-
52,586
197,799
27,981
-
-
-
-
-
-
-
20,000
-
-
-
298,366
325,398		 Restricted
funds
2025
£
4,743
2,290
-
-
-
100,000
-
-
270,000
-
-
27,606
-
31,900
3,150
2,850
442,539
977,839		 Total
funds
2025
£
4,743
2,290
52,586
197,799
27,981
100,000
-
-
270,000
-
-
27,606
20,000
31,900
3,150
2,850
740,905
1,303,237		 Total
funds
2024
£
3,949
2,240
47,431
193,963
9,004
-
72,634
850,000
-
7,477
75,000
41,539
-
-
-
-
1,303,237

Page 58

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5. Income from charitable activities

Department of Digital, Culture, Media and Sport
Mining Remediation Authority (previously Coal Authority)
MRA Innovation Centre
Total 2025
Total 2024		 Unrestricted
funds
2025
£
2,603,040
387,511
12,000
3,002,551
2,966,050		 Total
funds
2025
£
2,603,040
387,511
12,000
3,002,551
2,966,050		 Total
funds
2024
£
2,552,000
402,050
12,000
2,966,050

6. Income from other trading activities

Income from non charitable trading activities

Shop
Cafe income and conference income
On-site events, sales and other trading
Total 2025
Total 2024		 Unrestricted
funds
2025
£
93,627
252,045
182,757
528,429
564,350		 Total
funds
2025
£
93,627
252,045
182,757
528,429
564,350		 Total
funds
2024
£
95,168
290,701
178,481
564,350

Page 59

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7. Investment income

Dividend income
Other interest
Pension income
Total 2024		 Unrestricted
funds
2025
£
29,243
61,441
67,000
157,684
100,645		 Total
funds
2025
£
29,243
61,441
67,000
157,684
100,645		 Total
funds
2024
£
20,380
50,265
30,000
100,645

8. Cost of raising funds

Unrestricted
funds		 Restricted
funds		 Total
funds		 Total
funds
2025 2025 2025 2024
£ £ £ £
Voluntaryincome costs 141,811 75 141,886 129,233
Tradingcosts 562,777 - 562,777 502,093
Investment management costs 20,173 - 20,173 18,492
Total 2025 724,761 75 724,836 649,818
Total 2024 649,818 - 649,818

Included in the above are support costs totalling £55,207 (2024: £37,317) (note 10).

Page 60

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure on charitable activities

Surface & underground
Visitor services
Total 2024
Surface & underground
Visitor services
Total 2024		 Unrestricted
funds
2025
£
2,491,667
1,288,588
3,780,255
3,527,240
Direct costs
2025
£
2,174,650
1,139,552
3,314,202
3,201,586		 Restricted
funds
2025
£
-
70,158
70,158
160,565
Support costs
2025
£
317,017
219,194
536,211
486,219		 Total
2025
£
2,491,667
1,358,746
3,850,413
3,687,805
Total
funds
2025
£
2,491,667
1,358,746
3,850,413
3,687,805		 Total
2024
£
2,458,402
1,229,403
3,687,805
Total
funds
2024
£
2,458,402
1,229,403
3,687,805

Page 61

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10. Support costs

Raising funds Surface &
underground		 Visitor services Total Total
2025 2024
£ £ £ £ £
Finance,admin support and HR 6,250 35,889 24,815 66,954 49,895
IT 6,241 35,837 24,779 66,857 67,938
Admin buildings and equipment 3,714 21,330 14,748 39,792 39,377
Insurance 6,778 38,920 26,910 72,608 67,029
Telephone, stationery and
subscriptions		 1,355 7,783 5,381 14,519 13,093
Governance(note 11) 9,845 56,532 39,088 105,465 87,078
Wages and salaries 16,952 97,345 67,307 181,604 155,035
National insurance 1,780 10,220 7,066 19,066 15,968
Pension costs 2,292 13,161 9,100 24,553 28,123
Total 2025 55,207 317,017 219,194 591,418 523,536
Total 2024 37,317 293,407 192,812 523,536
Support costs are allocated based o
Governance costs
Trustee expenses
External auditor's remuneration
Internal auditor's remuneration
Legal fees
HR fees - personnel
Staff costs		 n employee cost per activity. 2025
£
2,470
19,150
5,463
810
12,398
65,174
105,465		 2024
£
2,397
18,345
4,543
375
14,073
47,345
87,078

11. Governance costs

Page 62

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12. Net income/(expenditure)

2025 2024
£ £
This is stated after charging:
Depreciation of tangible fixed assets owned by the group 254,160 253,757
Depreciation of heritage assets 185,167 195,901
Interest on defined benefit pension (67,000) (30,000)

During the year, no Trustees received any remuneration (2024 - £nil). During the year, no Trustees received any benefits in kind (2024 - £nil).

During the year, 4 (2024: 5) Trustees received reimbursement of expenses of £1,864 (2024 - £1,707) in relation to travel expenses.

13. Auditor's remuneration

2025 2024
£ £
Fees payable to the museum's auditor for the audit of the museum's annual
accounts 16,445 15,965
Fees payable to the museum's auditor in respect of:
All non-audit services not included above 3,840 3,735

14. Staff costs

2025 2024
£ £
Wages and salaries 2,015,576 1,818,015
Social securitycosts 161,729 128,267
Otherpension costs(note 28) 212,515 243,686
2,389,820 2,189,968

The above figures include total termination payments of £74,014 (2024: £nil). These costs relate to redundancy, payments in lieu of notice, unused holiday pay and compensation and have been recognised as an expense in the Statement of Financial Activities in the year.

Page 63

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

14. Staff costs (continued)

The average number of persons employed by the museum during the year was as follows:

Mining and Operations
Visitor Welcome, Retail and Bookings
Curatorial and Education
Marketing and Promotions
Finance and HR
Management Team and Governance
Café		 Group
2025
No.
55
9
23
3
3
4
12
109		 Group
2024
No.
55
6
22
2
3
3
12
103

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2025 2024
No. No.
In the band £60,001 - £70,000 2 2
In the band £70,001 - £80,000 - 1
In the band £80,001 - £90,000 1 -

The total amount of employee benefits including employers' pension and national insurance received by key management personnel is £283,335 (2024: £260,465). The charity’s key management personnel are detailed on page 1.

Page 64

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15. Taxation

Corporation tax
Adjustments in respect of previous periods
Museums & Galleries Tax relief
Taxation on net income		 2025
£
-
(29,233)
(29,233)		 2024
£
(426)
(11,251)
(11,677)

16. Tangible fixed assets

Group and Museum

Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
property
£
6,416,433
-
6,416,433
3,480,698
105,555
3,586,253
2,830,180
2,935,735		 Assets under
construction
£
-
86,417
86,417
-
-
-
86,417
-		 Motor
vehicles
£
99,795
-
99,795
60,283
19,756
80,039
19,756
39,512		 Mine
restoration
and exhibition
£
2,005,098
82,654
2,087,752
1,554,890
95,855
1,650,745
437,007
450,208		 Mine
equipment
and fittings
£
577,509
5,600
583,109
506,490
32,994
539,484
43,625
71,019		 Total
£
9,098,835
174,671
9,273,506
5,602,361
254,160
5,856,521
3,416,985
3,496,474

Page 65

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

16. Tangible fixed assets (continued)

Museum

Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
property
£
6,416,433
-
6,416,433
3,480,698
105,555
3,586,253
2,830,180
2,935,735		 Assets under
construction
£
-
86,417
86,417
-
-
-
86,417
-		 Motor
vehicles
£
99,795
-
99,795
60,283
19,756
80,039
19,756
39,512		 Fixtures and
fittings
£
2,005,098
82,654
2,087,752
1,554,890
95,855
1,650,745
437,007
450,208		 Office
equipment
£
577,509
5,600
583,109
506,490
32,994
539,484
43,625
71,019		 Total
£
9,098,835
174,671
9,273,506
5,602,361
254,160
5,856,521
3,416,985
3,496,474

Page 66

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

17. Heritage assets

Group and Museum

Assets recognised at cost

Carrying value at 1 April 2024
Additions
Depreciation
Transfers
Carrying value at 31 March 2025
Analysis of heritage asset transactions
Group and Museum
2025
£
Purchases
Underground
-
Exhibition areas
1,321,623
Donations
Collections
-
Total additions
1,321,623
Disposals
Exhibition areas
-
Total disposals
-		 Freehold land
and buildings
2025
£
712,360
16,562
(24,896)
-
704,026
2024
£
-
325,699
-
325,699
-
-		 Mine
restoration
and
exhibition
2025
£
1,725,580
1,305,061
(160,271)
330,287
3,200,657
2023
£
60,015
172,327
369,064
601,406
-
-		 Assets under
construction
2025
£
330,287
-
-
(330,287)
-
2022
£
9,960
45,690
556,078
611,728
(21,279)
(21,279)		 Total
2025
£
2,768,227
1,321,623
(185,167)
-
3,904,683
2021
£
37,026
315,447
-
352,473
-
-
Group and Museum
Purchases
Underground
Exhibition areas
Donations
Collections
Total additions
Disposals
Exhibition areas
Total disposals

Page 67

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

17. Heritage assets (continued)

No heritage assets have been sold during the five years. The disposal in 2022 reflects the presentation of deposits paid for a steam generator.

The National Coal Mining Museum for England (NCMME) currently holds more than 45,000 objects in its accessioned collections. They cover the collections 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 closed collection of nearly 5,000 accessioned items.

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 books. All aspects of the collection relate to coal mining as an industry or coal mining communities. The collection includes locomotives, some of which are on loan to various 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 significant 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 is fully accredited as a non-statutory national museum.

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 admission into the collections objects are numbered / labelled with a unique identifier and given a museum record in the accession register and on the catalogue. Safe storage of the collections is part of the preservation policy, which aims to follow the Benchmarks in Collections Care (2002, updated 2018).

Access 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 collections are generally due to poor condition of objects; 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 as regards to the disposal of any items in its collection.

Page 68

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

18. Fixed asset investments

Group
Cost or valuation
At 1 April 2024
Additions
Disposals
Revaluations
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
The historical cost of the listed investments is £1,804,591 (2024: £1,707,859).
Total investment management costs for the year were £20,173 (2024: £18,492).
All the fixed asset investments are held in the UK.		 Listed
investments
£
1,917,142
683,549
(674,479)
52,369
1,978,581
1,978,581
1,917,142

Page 69

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

18. Fixed asset investments (continued)

Investments in
subsidiary Listed
companies investments Total
Museum £ £ £
Cost or valuation
At 1 April 2024 1 1,917,142 1,917,143
Additions - 683,549 683,549
Disposals - (674,479) (674,479)
Revaluations - 52,369 52,369
At 31 March 2025 1 1,978,581 1,978,582
Net book value
At 31 March 2025 1 1,978,581 1,978,582
At 31 March 2024 1 1,917,142 1,917,143
Principal subsidiaries
The following was a subsidiary undertaking of the museum:
Name Company Principal activity Class of Holding Included in
number shares consolidation
National Coal Mining 05122121 The retail of gifts and Ordinary 100% Yes
Museum Trading souvenirs associated
Limited with the mining
industry and the
provision of cafe and
conferencing facilities
The financial results of the subsidiary for the year were:
Name Income Expenditure Loss for the Net assets
£ £ year £
£
National Coal Mining Museum Trading 381,322 (395,637) (14,315) 37,112
Limited

Page 70

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

19. Stocks

Group Group Museum Museum
2025 2024 2025 2024
£ £ £ £
Goods for resale 46,485 24,718 17,204 8,492

20. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Tax recoverable		 Group
2025
£
41,181
-
50,040
11,030
129,619
231,870		 Group
2024
£
21,684
-
75,473
17,196
27,194
141,547		 Museum
2025
£
36,296
8,613
49,614
10,945
131,783
237,251		 Museum
2024
£
17,530
29,866
75,047
17,111
33,065
172,619

21. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 Group
2025
£
638,926
40,803
89,552
234,319
1,003,600		 Group
2024
£
87,746
36,604
116,448
123,949
364,747		 Museum
2025
£
633,839
40,803
89,552
215,747
979,941		 Museum
2024
£
84,304
35,329
106,045
116,744
342,422

Page 71

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

22. Statement of funds

Statement of funds - current year

Balance at 1 Transfers Gains/ Balance at 31
April 2024 Income Expenditure Taxation in/out (Losses) March 2025
£ £ £ £ £ £ £
Unrestricted funds
Designated funds
Repair and maintenance 25,000 - - - (12,654) - 12,346
Emergency 100,000 - - - - - 100,000
Collections 20,000 - - - - - 20,000
Display maintenance 10,000 - - - - - 10,000
Computer maintenance 15,000 - - - - - 15,000
Project 200,000 - (1,000) - (25,000) - 174,000
Heritage buildings maintenance 50,000 - (3,558) - (24,354) - 22,088
Investment portfolio reserve 95,856 - - - 3,072 - 98,928
Apprenticeship scheme 30,000 - - - - - 30,000
Winding Engine 320,000 - - - (248,862) - 71,138
Development 100,000 - (71,011) - - - 28,989
Master Planning & Capital Projects 179,500 - (59,187) - - - 120,313
Post Code Neighbourhood Trust 38,205 - (34,042) - (4,163) - -
Garfield Western Foundation Grant - - - - 20,000 - 20,000
Fixed asset fund 5,934,414 - (439,327) - 1,740,162 - 7,235,249

Page 72

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

22. Statement of funds (continued)

Statement of funds - current year (continued)

General funds
General
General - trading subsidiary
Pension reserve
Total Unrestricted funds		 Balance at 1
April 2024
£
7,117,975
2,232,098
51,427
-
2,283,525
9,401,500		 Income
£
-
3,538,708
381,322
67,000
3,987,030
3,987,030		 Expenditure
£
(608,125)
(3,476,254)
(395,637)
(25,000)
(3,896,891)
(4,505,016)		 Taxation
£
-
29,233
-
-
29,233
29,233		 Transfers
in/out
£
1,448,201
(55,686)
-
-
(55,686)
1,392,515		 Gains/
(Losses)
£
-
52,369
-
(42,000)
10,369
10,369		 Balance at 31
March 2025
£
7,958,051
2,320,468
37,112
-
2,357,580
10,315,631

Page 73

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

22. Statement of funds (continued)

Restricted funds
Apprenticeship scheme
Pit Pony Appeal
Miners Memorial Garden
DCMS Winder Funding: 2023-2025
DCMS- PBIF (Emergency Winder)
DCMS- PBIF (Asbestos Works)
WMDC Connecting Cultures
WYCA- Time Tunnel Funding
UKSPF- Small Prosper Fund
UKSPF- Local Grants Programme
WYCA- Unesco Festival of Lifelong Learning
The Idlewild Trust- Conservation Grant
Total of funds		 Balance at 1
April 2024
£
2,000
-
2,240
1,233,595
-
-
6,172
-
-
-
-
-
1,244,007
10,645,507		 Income
£
-
4,743
2,290
-
200,000
70,000
27,606
100,000
12,300
19,600
3,150
2,850
442,539
4,429,569		 Expenditure
£
-
(15,823)
(75)
-
-
-
(28,985)
-
(2,600)
(19,600)
(3,150)
-
(70,233)
(4,575,249)		 Taxation
£
-
-
-
-
-
-
-
-
-
-
-
-
-
29,233		 Transfers
in/out
£
-
11,080
-
(1,233,595)
-
(70,000)
-
(100,000)
-
-
-
-
(1,392,515)
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
10,369		 Balance at 31
March 2025
£
2,000
-
4,455
-
200,000
-
4,793
-
9,700
-
-
2,850
223,798
10,539,429

Page 74

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

22. Statement of funds (continued)

Statement of funds - prior year

Balance at
Balance at Transfers Gains/ 31 March
1 April 2023 Income Expenditure Taxation in/out (Losses) 2024
£ £ £ £ £ £ £
Unrestricted funds
Designated funds
Repair and maintenance 25,000 - - - - - 25,000
Emergency 100,000 - - - - - 100,000
Collections 20,000 - - - - - 20,000
Display maintenance 10,000 - - - - - 10,000
Computer maintenance 15,000 - - - - - 15,000
Project 200,000 - - - - - 200,000
Heritage buildings maintenance 50,000 - - - - - 50,000
Investment portfolio reserve 89,370 - - - 6,486 - 95,856
Apprenticeship scheme 30,000 - - - - - 30,000
Winding Engine 320,000 - - - - - 320,000
Development 100,000 - - - - - 100,000
Master Planning & Capital Projects - - - - 179,500 - 179,500
Post Code Neighbourhood Trust - - - - 38,205 - 38,205
Fixed asset fund 6,096,089 - (420,215) - 258,540 - 5,934,414

Page 75

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

22. Statement of funds (continued)

Statement of funds - prior year (continued)

General funds
General
General - trading subsidiary
Pension reserve
Total Unrestricted funds		 Balance at
1 April 2023
£
7,055,459
2,209,503
61,970
-
2,271,473
9,326,932		 Income
£
-
3,515,197
411,246
30,000
3,956,443
3,956,443		 Expenditure
£
(420,215)
(3,301,628)
(422,215)
(33,000)
(3,756,843)
(4,177,058)		 Taxation
£
-
11,251
426
-
11,677
11,677		 Transfers
in/out
£
482,731
(330,060)
-
-
(330,060)
152,671		 Gains/
(Losses)
£
-
127,835
-
3,000
130,835
130,835		 Balance at
31 March
2024
£
7,117,975
2,232,098
51,427
-
2,283,525
9,401,500

Total Unrestricted funds

Page 76

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

22. Statement of funds (continued)

Restricted funds
HLF Coalfield Conversations
Apprenticeship scheme
Pit Pony Appeal
Miners Memorial Garden
DCMS Winder Funding: 2023-2025
DCMS- PBIF (Asbestos Works)
WMDC Connecting Cultures
Total of funds		 Balance at
1 April 2023
£
155,247
2,000
-
-
422,157
-
-
579,404
9,906,336		 Income
£
72,634
-
3,949
2,240
850,000
7,477
41,539
977,839
4,934,282		 Expenditure
£
(100,844)
-
(14,620)
-
(2,042)
(7,692)
(35,367)
(160,565)
(4,337,623)		 Taxation
£
-
-
-
-
-
-
-
-
11,677		 Transfers
in/out
£
(127,037)
-
10,671
-
(36,520)
215
-
(152,671)
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
130,835		 Balance at
31 March
2024
£
-
2,000
-
2,240
1,233,595
-
6,172
1,244,007
10,645,507

Page 77

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

DESIGNATED

As at 31st March 2025, there are 14 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 are set out below:

Fixed Asset Fund

This fund represents the book value of all completed tangible fixed assets and heritage assets. This fund was established to capture the large element of the group’s overall funds that are represented by fixed assets.

Note – funded capital assets where work is on-going remain in their own restricted fund until the project is complete.

Masterplan and Capital Projects

This fund recognises the need to resource the implementation of the Masterplan and to transition from the planning to the delivery phase of the Masterplan. The fund is to resource a Project Manager for two years (commencing 2024/25) and to fund steps required to ensure the Masterplan is read for submission for applications for funding.

Postcode Neighbourhood Trust

The Charity received a £75k donation from the Postcode Neighbourhood Trust to enable the Charity to enhance and extend our reach and to engage with people of all ages and backgrounds. The designated reserve is the balance of this funding which was fully spent down as at 31 March 2025.

Emergency

By the nature of its purpose it is not possible to predict future demands on the emergency fund. It was set up to deal with any unforeseen emergency which might threaten the survival of the Museum, for example problems with the buildings, underground, site or short term financial difficulties.

Winding Engine

Funding has been secured from the Department for Culture, Media and Sport to replace the existing winding engine which is reaching the end of its useful life and is critical to the access of the underground tour at the heart of the Museum’s offer. Due to both known and predicated increases in cost during the development and commissioning phase of the winding engine replacement project, a reserve has been established to meet the predicted shortfall in funding.

Page 78

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Development

In preparation for the appointment of the new CEO (appointed October 2023), the Trustees anticipated that there would be additions required to the staffing structure and therefore a development reserve was established in order to resource the building of capacity and resilience. The balance of the fund at 31st March 2025 reflects the cost of commitments into the 2025/26 financial year.

Project

The Museum operates 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. The fund is intended to provide matched funding for external grants and to provide short term financial solutions as required. In year transfers out of this fund are for such elements of expenditure incurred in the year.

Heritage Buildings Maintenance

This fund is intended to cover non routine costs that may arise specifically in relation to the historic external built infrastructure on site. In year transfers out of this fund are for such elements of expenditure incurred in the year.

Investment Portfolio Reserve

The investment portfolio reserve was established to ensure funds are available when required to meet reductions in market valuation when markets are trending downwards. There is a transfer each year to ensure that the investment portfolio reserve represents 5% of the market value of the investment portfolio.

Garfield Western Foundation Grant

The Garfield Western Foundation made an unrestricted grant to the Museum in 2024/25. The Board of Trustees have approved the carry forward of this grant to meet identified core costs in the 2025/26 financial year.

RESTRICTED

DCMS Winder Funding

Funding has been secured to replace the existing winding engine which is reaching the end of its useful life. The engine was installed and commissioned in the 2024/25 financial year and the costs incurred have been transferred to designated fixed assets.

DCMS – PBIF (Emergency Winder)

Funding has been secured to replace the Emergency Winder necessary to support the operation of the underground experience. As at 31st March 2025, the Emergency Winder is treated as an Asset Under Construction and once commissioned the costs incurred will be transferred to designated fixed assets.

Page 79

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

DCMS – PBIF (Asbestos Works)

Funding has been secured to complete identified essential asbestos remedial works. These works have been completed and the cost incurred have been transferred to designated fixed assets.

WYCA – Time Tunnel

Funding has been secured to transform our historic Lister Kaye Tunnel into a spectacular new underground digital interactive and immersive experience. The Project has been completed and the costs incurred have been transferred to designated fixed assets.

Other Funds

A number of other smaller projects have been undertaken following receipt of specific restricted funds. Each fund is accounted for separately and any balance as at 31st March 2025 carried forward against planned expenditure in the 2025/26 financial year.

TRANSFERS

There is a transfer each year to ensure that the investment portfolio reserve represents 5% of the market value of the investment portfolio.

Transfers also represent movement to designated funds as detailed above.

Page 80

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

23. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
April 2024
£
7,117,975
2,283,525
1,244,007
10,645,507		 Income
£
-
3,987,030
442,539
4,429,569		 Expenditure
£
(608,125)
(3,896,891)
(70,233)
(4,575,249)		 Taxation
£
-
29,233
-
29,233		 Transfers
in/out
£
1,448,201
(55,686)
(1,392,515)
-		 Gains/
(Losses)
£
-
10,369
-
10,369		 Balance at 31
March 2025
£
7,958,051
2,357,580
223,798
10,539,429

Summary of funds - prior year

Designated funds
General funds
Restricted funds		 Balance at
1 April 2023
£
7,055,459
2,271,473
579,404
9,906,336		 Income
£
-
3,956,443
977,839
4,934,282		 Expenditure
£
(420,215)
(3,756,843)
(160,565)
(4,337,623)		 Taxation
£
-
11,677
-
11,677		 Transfers
in/out
£
482,731
(330,060)
(152,671)
-		 Gains/
(Losses)
£
-
130,835
-
130,835		 Balance at
31 March
2024
£
7,117,975
2,283,525
1,244,007
10,645,507

Page 81

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

24. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Heritage assets
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior year
Tangible fixed assets
Fixed asset investments
Heritage assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2025
£
3,330,568
1,978,581
3,904,683
2,105,399
(1,003,600)
10,315,631
Unrestricted
funds
2024
£
3,496,474
1,917,142
2,437,940
1,914,691
(364,747)
9,401,500		 Restricted
funds
2025
£
86,417
-
-
137,381
-
223,798
Restricted
funds
2024
£
-
-
330,287
913,720
-
1,244,007		 Total
funds
2025
£
3,416,985
1,978,581
3,904,683
2,242,780
(1,003,600)
10,539,429
Total
funds
2024
£
3,496,474
1,917,142
2,768,227
2,828,411
(364,747)
10,645,507

Page 82

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

25. Reconciliation of net movement in funds to net cash flow from operating activities

Net (expenditure)/income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gains) on investments
Dividends, interests and rents from investments
Increase in stocks
(Increase)/decrease in debtors
Increase in creditors
Pension scheme adjustments
Net cash provided by operating activities
26.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
27.
Analysis of changes in net debt
At 1 April
2024
£
Cash at bank and in hand
2,662,146
2,662,146		 Group
2025
£
(64,078)
439,327
(52,369)
(90,684)
(21,767)
(90,323)
87,903
(42,000)
166,009
Group
2025
£
1,964,425
1,964,425
Cash flows
£
(697,721)
(697,721)		 Group
2024
£
736,171
449,658
(127,835)
(70,645)
(13,003)
28,088
67,232
3,000
1,072,666
Group
2024
£
2,662,146
2,662,146
At 31 March
2025
£
1,964,425
1,964,425

Page 83

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

28. Capital commitments

Contracted for but not provided in these financial
statements
Winder Project
DCMS- PBIF (Emergency Winder Project)		 Group
2025
£
-
86,417
86,417		 Group
2024
£
734,986
-
734,986		 Museum
2025
£
-
86,417
86,417		 Museum
2024
£
734,986
-
734,986

29. Pension commitments

The group operated two defined contribution schemes during the year. The employer pension costs represents contributions payable by the group to the funds and amounted to £61,913 (2024: £37,116). Employer and employee contributions totalling £8,878 (2024: £8,434) were payable to the funds at the balance sheet date and are included in creditors.

The group participates in the Local Government Pension Scheme (LGPS). It is a defined benefit scheme and the assets of the scheme are held in a separate trustee administered fund which is subject to actuarial valuation. The scheme closed to new entrants during 2018/19. The pension scheme is funded by the payment of contributions.

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 2022.

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

At 31 March At 31 March
2025 2024
% %
Discount rate 5.80 4.80
CPI inflation 2.50 2.60
Salary increases 3.75 3.85
Pension increases 2.50 2.60
Pension accounts revaluation rate 2.50 2.60

Page 84

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

29. Pension commitments (continued)

At 31 March At 31 March
2025 2024
Years Years
Mortality rates (in years)
- for a male aged 65 now 20.9 21.0
- at 65 for a male aged 45 now 21.8 22.3
- for a female aged 65 now 24.1 24.2
- at 65 for a female aged 45 now 24.8 25.2

Sensitivity analysis

Discount rate +0.1%
Discount rate -0.1%
Mortality assumption - 1 year increase
Mortality assumption - 1 year decrease
CPI rate +0.1%
CPI rate -0.1%
The Group's share of the assets in the scheme was:
Equities
Debt Instruments
Property
Cash and other liquid assets
Other
Total fair value of assets		 At 31 March
2025
£
127,000
(127,000)
199,000
(199,000)
(9,000)
9,000
At 31 March
2025
£
9,411,000
1,543,000
332,000
309,000
273,000
11,868,000		 At 31 March
2024
£
147,000
(147,000)
272,000
(262,000)
(10,000)
10,000
At 31 March
2024
£
9,368,000
1,499,000
330,000
212,000
389,000
11,798,000

The actual return on scheme assets was £501,000 (2024 - £888,000).

Page 85

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

29. Pension commitments (continued)

The amounts recognised in the consolidated statement of financial activities are as follows:

Current service cost
Interest income
Interest cost
Actuarial (losses)/gains
Total amount recognised in the Consolidated statement of financial activities
Movements in the present value of the defined benefit obligation were as follows:
Opening defined benefit obligation
Current service cost
Interest cost
Contributions by scheme participants
Actuarial losses recognised
Benefits paid
Actuarial gains not recognised in year
Closing defined benefit obligation
Movements in the fair value of the Group's share of scheme assets were as follows:
Opening fair value of scheme assets
Expected return on assets
Actuarial gains
Contributions by employer
Contributions by scheme participants
Benefits paid
Closing fair value of scheme assets		 2025
£
(175,000)
556,000
(489,000)
(42,000)
(150,000)		 2024
£
(204,000)
519,000
(489,000)
3,000
(171,000)
2025
£
10,476,000
175,000
489,000
47,000
(13,000)
(628,000)
(1,504,000)
9,042,000
2025
£
11,798,000
556,000
(55,000)
150,000
47,000
(628,000)
11,868,000

Page 86

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d

NATIONAL COAL MINING MUSEUM FOR ENGLAND TRUST LTD

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Defined benefit obligation
Fair value of scheme assets
Surplus not recognised in balance sheet
Net pension liability		 2025
£
9,042,000
(11,868,000)
2,826,000
-		 2024
£
10,476,000
(11,798,000)
1,322,000
-

The net pension surplus of £2,826,000 at 31 March 2025, assessed in accordance with FRS 102, is not recognised in the balance sheet as any possible recovery by reduced contributions in the future or refunds is uncertain in amount and timing.

30. Related party transactions

The charitable company owns 100% of its subsidiary National Coal Mining Museum Trading Limited. During the year, expenditure was recharged of £33,288 to the subsidiary company (2024: £29,828) for wages, and £44,175 (2024: £44,175) for rent. At the year end amounts totalling £8,613 (2024: £29,866) are owed to the parent charitable company by the trading subsidiary.

Cllr D Jeffery was a Trustee and the Vice Chair of the Board of Trustees (resigned 8 November 2024) and is also the Leader of Wakefield Metropolitan District Council (WMDC). During the year, the Museum received income of £27,606 (2024: £41,539) from WMDC in relation to a Connecting Cultures grant incorporating various projects, as well as income of £3,150 (2024: £nil) from WMDC in relation to Wakefield's Festival of Learning (UNESCO) which took place in March 2025.

The museum received income from UKSPF Wakefield Local Grants Programme totalling £19,600 (2024: £nil).

Cllr D Jeffery is also a member of West Yorkshire Combined Authority (WYCA). During the year, the museum received income of £100,000 (2024: £nil) in relation to capital funding for the new Time Tunnel exhibit.

Expenditure of £28,155 (2024: £40,731) was incurred with WMDC. At the year-end, this included £nil (2024: £nil) within creditors. These amounts are for services provided by the Council, such as site security, refuse collection and premises licencing.

Wakefield MDC also pays money over to the Museum on behalf of many local schools who visit the Museum for school trips.

Page 87

Document ID: 3991f4771af113f9c4eadb2227c18169b6cebb1787806d94d555447aa30f1a2d