Narberth Museum Llmited
Charity No. 519783
Company No. 02208841
Trustees, Report and Unaudited Accounts
31 March 2024

Narberth Museum Limited
Contents
Pages
Trustees, Annual Report
Independent Examiner's Report
Statement of Financial Activities
Summary Income and Expenditure Account
Balance Sheet
Notes to the Accounts
io
Detailed Statement of Financial Activities
20to22
Page I

Narberth Museum Limited
Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006,
present their report with the unaudited financial statements of the charity for the year ended 31
March 2024.
REFERENCE AND ADMINISTRATIVE D￿AlLs
Company No. 02208841
Charity No. 519783
Registered Office
The Bonded Stores
Church Street
Narberth
Dyfed
SA67 7BH
Directors and Trustees
The Directors of the charitable company are its Trustee5 for the purposes of charity law.
The following Directors and Trustees served during the year:
E.S. Lidgate
J. Ashbridge
N. Bennett
P. Griffiths
J. Hart
J.R. Mathias
M. Thomas
{Resigned 22 November 2023}
(Resigned 22 November 20231
Company Secretary
P. Griffiths
Accountants
Ann Stephens & Company Ltd
Allen5bank
Narborth
SA67 8RF
Bankers
The Co-operative Bank
PO Box 250
Delft House
Southwest
Skelmersdale
WN8 7WT
Page 2

Narberth Museum Llmited
Trustees Annual Report
OBJECTIVES AND ACTIVITIES
The company is a registered charity and it5 principal objectives are the provision of a museum to collect,
preserve and interpret material evidence of the heritage of Narberth and the surrounding area, and the
preservation of the historical and architectural heritage of buildings in and around Narberth and, in
particular, the Bonded Stores Church Street, Narberth for the public education and benefit.
During this period, the Museum has continued to provide a wide range of educational, social and cultural
activities and events and thus has engaged with many people in the local and wider community.
Using the collection as a basis for telling the stories of Welsh history and culture, our staff and volunteers
created some memorable events in quite difficult circumstances this year
The work of the Museum Manager continued to contribute to the Museum's development and growth. This
has been especially evident in the expansion and management of the bookshop and coffee shop which have
both seen increased activity and revenue.
The bookshop was taken out to several external events including the National Park's Archaeology Day and
festivals SLtch as The Big Retreat and the Out and Wild Festival. This involves a lot of work for staff and
volunteers but is very successful in bringing the bookshop to the attention of a far wider customer base.
In addition, the bookshop, Chapter One, has book-related events such as the ever- popular Paperback
Breakfast and asslsted in the publication of a memoir, A Narberth Boy Remember5, which has raised funds
for the work of the Museum.
Throughout the period the Museum continued to offer monthly talks on a variety of topics which are have
attracted larger and more diverse audiences. Local historian, Terry John has been a regular and much valued
contributor to this programme.
Local groups and schools continue to visit the Museum and have been given talks and activities relevant to
their studies. Because of the difficulties schools have in funding transport to the Museum, plans are in place
to take objects related to the themes of the new We15h curriculum out to schools in the future.
Narberth has Strong links with other arts and heritage organisations and welcomes community groups. These
include the Women's Peace Petition, Span Arts, life-drawing classes, poetry workshops, book groups and
groups to improve the physical and mental health of local residents. The local U3A holds some group meeting
here.
Family history researchers value the opportunity to consult with our dedicated volunteer, Jackie Thompson,
for help and 5UPPOrt.
The Museum is embedded in the cultural and educational life of the town and is involved with the Food
Festival, the annual carnival, and other related organisations, including the Chamber of Trade, to further
mutual support and understanding.
A full programme of exhibitions was created this year. The Museum also celebrated the eleventh anniversary
of its re-opening in the Bonded Stores. It was a chance to reflect on the success of that restoration project
and all that had been achieved since.
This year has also witnessed significant capital works both scheduled and unscheduled. Thanks to our success
in obtaining funding from the Welsh Government's Capital Transformation Fund several initiatives to
promote energy efficiency were undertaken.
Page 3

Narberth Museum Limited
Trustees Annual Report
Solar reflective film was installed on the roof lights in the upstairs galleries, existing windows were replaced
with double-glazed units, all lighting was replaced with LED lamps, battery storage and an inverter were
installed and destratification fans positioned in the roof to redistribute excess heat. The Museum was closed
for a period to facilitate this work but a team of volunteers prepared the site and protected the collection
while thi5 was carried out, The contractors completed the work to our great satisfaction and ahead of
schedule. The whole ambitious project ran smoothly thanks to the efficient project management and
planning carried out by the Museum Manager., Daniel Sheen.
Unfortunately, other problems beset the Museum during this period. The boiler had been inoperative since
February 2023 and delays brought about by attempting to get funding for the more environmentally friendly
but prohibitively expensive air SOLtrce heat pump meant that staff and visitors had to endure dlfficult working
conditions throughout the year until the boiler could be replaced. Stormy weather in the winter affected the
electrical supply and disabled the automatic doors, the lift and the CCTV and resulted in the fire service
having to be called out. The resulting repairs totalled £1,700 and although the insurance covered the work on
the doors this represented a significant cost outlay. Venue from room hire and staff and visltor morale were
affected
VOLUNTEERS AND STAFF
Narberth Museum has around twenty active volunteers and depends heavily on their willingness, skills and
experience to ensure that the organization functions effectively. In the first three months of 2024 they had
already contributed 1,174 hours of volunteer time. They readily stepped up to fill gaps in the rota and
underwent training to cover all the front-of-house roles required. We are especially grateful to them all for
their loyalty and commitment. Some of their roles this year have included:
l.Cataloguing the Museum collection and carrying out an audit of framed pictures. Welsh Government
completed a survey into the Museum's storage capacity and were "impressed with the ....rationalization
projecv,
2. Successfully selling donated second hand books on Ebay
3. Taking on the role of volunteer co-ordinator and providing a framework of organization and stability.
During the year we recruited several new volunteers to work in events planning, front of house and
education.
Training, both internal and external, is an important part of the Museum's responsibility in ensuring
volunteer safety and wellbeing. Safeguarding training for all volunteers and an updating of the safeguarding
policy was carried out by our new education volunteer, a retired headteacher. Volunteer contributions are
acknowledged and recognized in a variety of ways and recruitment is an ongoing process.
At the start of this year, our Learning Officer, Emma Baines, left after having been with us for nearly twelve
years. Her contribution to the cultural life of the Museum and to all the group5 and organisations with which
she interacted has been inestimable. She has laid the foundations for the provision of meaningFul
educational activities for all ages and we wish her well for the future.
During this period two of our Trustees resigned for personal reasons. John Mathias had been a Trustee for
more than twenty years and brought a steadiness and reliability to the Board along with a wealth of
administrative experience.
Jenny Hart's time as a Trustee spanned ten years and she contributed greatly to the meetings with her local
knowledge and her experience spent as Tourism Officer at Pembrokeshire County Council.
A new Trustee, Emma Lewis joined us and has already made valuable contributions based on her experience
in other Pembrokeshire-based organisations.
Page 4

Narberth Museum Limited
Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
The Museum continues to be fully accredited by the Arts Council England which indicates that It 15 meeting
recognised standards in governance, collection care and visltor services.
It also maintains its Visitor Attraction Quality Assurance Service status and was awarded a Hidden Gem
certificate.
Much staff and volunteertime was taken up with grant applications for project and core funding. Following
the success of the bid to the Welsh Governmenys Transformation Capital grant programme work began on
various means of improving energy efficiency in the Museum. To capitalise further on this work a bid to the
Sustainable Development Fund for additional solar panels was submitted. However, a second bid to the
Shared Prosperity Fund was unsuccessful.
FINANCIAL REVIEW
The Compan￿$ investments are managed by CCLA Investment Management Ltd.
The volunteers organise annual fundraising events to support the work of the Museum.
In order for the charity to be effective, Narberth Museum holds back some funds as reserdes to cover the rlsk
of unseen emergencies or an unexpected need for funds for repairs or a 5hort-temi deficit in a cash budget.
STRucfuRE, GOVERNANCE AND MANAGEMENT
The Charity is controlled by its governing document, a deed of trust. and constitutes a limited company,
limited by guarantee, as defined by the Companie5 Act 2006.
The existing trustees are responsible for the recruitment of new trustees.
The Museum has a board of trustees who manage the charity and Narberth Museum is part of the
Pembrokeshire Association of Museums. the Federation of Museums and Art Galleries of Wales, the
Museum5 Association and the Association of Independent Museums.
Narberth Museum works with Pembrokeshire Association of Volunteers, the Association of Independent
Museums, and the Museums, Archives and Libraries division of the Welsh Government to identify and utilise
relevant training courses for trustees.
The Trustees are responsible for keeping proper accounting records that disclose wlth reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financial statements
cornply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the
charity and hence taking reasonable steps for the prevention and detectlon of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to
the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance wlth the
Charities SORP {FRS 102).
Signed on behalf of the board
P. Griffiths
Company Secretary
18 December 2024
Page 5

Narberth Museum Limited
Independent Examiners Report
Independent Examiner's Report to the trustees of Narberth Museum Llmited
I report to the charity trustees on my examination of the financial statements of Narberth Museum Limited
for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the company {and also Its directors for the purposes of company lawl you are
responsible for the preparation of the financial statements in accordance with the requirements of the
Companies Act 20061'the 2006 Act.
Having satlsfied myself that the financial statements of the Charity are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of
your charity's financial statements as carried out under section 145 of the Charities Act 2011 {'the 2011 Act'l.
In carrying out my examination I have followed the Directions given by the Charity Commission under section
145151 Ibl of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe:
accounting records were not kept in accordance with section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006
Act other than any requirement that the financial statements give a 'true and fair, view which is not a
matter considered as part of an independent examination,. or
the financial statements have not been prepared in accord3nce with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 102}.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the financial
statements to be reached.
Mrs Jay York Chartered Accountant
Ann stephens & Company Ltd
Allensbank
Narberth
SA67 8RF
18 December 2024
Page 6

Narberth Museum Limited
Statement of Financial Actlvities
for the year ended 31 March 2024
Unrestricted
funds
2024
Restricted Endowment
funds
funds Total funds Total funds
2024
2024
2024
2023
Notes
Income and endowments
from..
Donations and legacies
Charitable activities
Other trading activities
Investment5
Other
25,060
21,034
21,675
2,043
1,954
25,060
146,402
21,675
2,481
1,954
15,073
34,538
19,839
1,433
2,230
125,368
438
Total
71,766
125,368
438
197,572
73,113
Expenditure on:
Raising funds
Charitable activities
Other
6,504
15,506
56,513
6,504
149,774
85,931
7,490
27,807
84,391
io
134,268
29,418
li
Totsl
78,523
163,686
242,209
119,688
Net gains/llossesl on
investments
1,408
1,408
16701
Net expenditure
Transfers between funds
12
{6,7571
{38,3181
15,7641
1,846
143.2291
147,2451
6,202
1438)
Net expenditure before other
gain51(losses)
{555}
144,082)
1,408
{43,2291
147,245)
Other gains and losses
Net movement In funds
15551
{44,0821
1,408
143,2291
147,2451
Reconciliation of funds:
Total funds brought forward
165,791
1,188,102
14,332
1,368,225
1,415,470
Total funds carried forward
165,236
1,144,020
15,740
1,324,996
1,368,225
Page 7

Narberth Museum Llmlted
Summary Income and Expenditure Account
for the year ended 31 March 2024
2024
2023
Income
195,091
71,680
Interest and investment income
2,043
999
Gross Income forthe year
Expenditure
197,134
72,679
212,511
89,704
Depreciation and charges for
impairment of fixed assets
29,698
29,984
Total expenditure for the year
Net expenditure before tax for the year
242,209
119,688
{45,075)
147,0091
Net expenditure for the year
145,0751
{47,0091
Page 8

Narberth Museum Umited
Balance Sheet
at 31 March 2024
Company No. 02208841
Notes
2024
2023
Flxed assets
Tangible assets
Investments
14 1,219,217
15
15,740
1,234,957
1,248,915
14,332
1,263,247
Current assets
Stocks
Debtors
Cash at bank and in hand
16
8,428
2,212
81,816
92,456
(2.417)
90,039
1,324,996
1,324,996
10,673
1,956
96,486
109,115
{4,137)
104,978
17
Creditors: Amount falling due within one year
Net current assets
Total assets less current liabilltles
Net assets excludlng pension asset or Ilabllity
Totsl net assets
The funds of the charlty
Restrlcted funds
Endowment funds
Restricted income funds
18
1,368,225
1,368,225
1,324.996
1,368,225
19
13,783
1,144,020
1.157,803
13,783
1,188,102
1,201,885
Unrestrirted funds
General funds
19
165,236
165,791
165,791
165,236
Reserves
Revaluation reserve
19
1,957
1,957
549
549
Total funds
1,324,996
1,368,225
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies
Act 2006 relating to Small companles.
For the year en(Jed 31 March 2024 the company was entitled to exemption under section 477 of the
Cornpanies Act 2CK16 relating to small companies.
The rnembers have not required the company to obtain an audit in accordance with section 476 of the
Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act
2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 18 December 2024
And slgned on its behalf by:
P. Griffiths
Trustee
18 December 2024
Page 9

Narberth Museum Limited
Notes to the Accounts
for the year ended 31 March 2024
l Accounting policies
Basis of preparatlon
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 {FRS 1021 {effective I
January 20151 (Charities SORP {FRS 10211, the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 1021 and the Companies Act 2006.
Change in basis of accounting or to prevlous accounts
There has been no change to the accounting policies Ivaluation rules and method of accounting) since
last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestrirted funds These are available for use at the discretion of the trustees in furtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustees for particular purposes.
These are unrestricted funds which include a revaluatlon reserve representing the
restatement of investment assets at their market values.
These are available for use subjett to restrictions imposed by the donor or through
terms of an appeal.
Designated funds
Revaluation funds
Restricted funds
Income
Recognition of
income
Income is included in the Statement of Financial Activities {SoFAI when the charity
becomes entitled to, and virtually certain to receive, the income and the amount of
the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is
expenditure
reported gross in the SOFA.
Donations and
legacies
Voluntary income received by way of grants, donations and gifts is included in the
the SOFA when receivable and only when the Charity has unconditional
entitlement to the income.
Tax reclaims on
Income from tax reclaims is included In the SOFA at the same time as the
donations and gifts gift/donation to which it relates.
Donated services
These are only included in income (with an equivalent amount in expenditure)
and facilities
where the benefit to the Charity is reasonably quantifiable, measurable and
material.
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment income This is included in the accounts when receivable.
Gainslllossesl on
This includes any gain or10ss resulting from revaluing investments to market value
revaluation of fixed at the end of the year.
assets
Gains/llosses) on
investment assets
This includes any gain or loss on the sale of investments.
Page 10

Narberth Museum Limited
Notes to the Accounts
Expenditure
Recognition of
expenditure
Expenditure is recognised on an accruals basls, Expenditure includes any VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs associated with attracting voluntary income, fundraising
raising funds
trading costs and investment management costs.
Expenditure on
These comprise the costs incurred by the Charity in the delivery of its activities and
haritable activities services in the furtherance of its objects, including the making of grants and
governance costs.
All grant expenditure is accounted for on an actual paid basis plus an accrual for
grants that have been approved by the trustees at the end of the year but not yet
paid.
These include those costs associated with meeting the constitutional and statutory
requirements of the Charity, including any aLSdit/independent examination fees,
costs linked to the strategic management of the Charity, together with a share of
other administration costs.
These are support costs not allocated to a particular activity.
Grants payable
Governance costs
Other expenditure
Taxation
The charity is exempt from corporation tax on its charitable artivities.
Tangible fixed assets and depreclatlon
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life:
Freehold property
Fixtures, fittings and
equipment
2% Straight line
20% straight line
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet
date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they
arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair
value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other
short-term highly liquid investments with original maturities of three months or less and bank overdrafts.
In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.
Page 11

Narberth Museum Limited
Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised
where the charity ha5 a present obligation resulting from a past event that will probably result in the
transfer of funds to a third party and the amount due to settle the obligation can be measured or
estimated reliably. Creditors and provisions are normally recognised at their settlement amount after
allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the
charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of
exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of
ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified
as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the
inception of the lease or, if lower, at the present value of the minimum lease payments. The
corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation.
Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to
achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are
recognised immediately, unless they are directly attributable to qualifying assets, in which case they are
capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term.
In the event that lease incentives are received to enter into operating leases, such incentives are
recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental
expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a
pension plan under which the company pays fixed contributions into a separate entity. Once the
contributions have been paid the company has no further payments obligations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and
expenditure at an estimate of the value to the charity.
Page 12

Narberth Museum Limited
Notes to the Accounts
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities- prior year
Unrestricted
funds
Restrlrted Endowment
funds
funds Total funds
2023
2023
2023
2023
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
15,073
22,570
19,839
999
15,073
34,538
19,839
1,433
2,230
11,968
434
Other
2,230
Total
60,711
11,968
434
73,113
Expenditure on:
Raising funds
Charitable activities
7,490
15,199
54,973
7,490
27,807
84,391
12,608
Other
29,418
Total
77,662
42,026
119,688
Net gains on investments
Net Income
1670}
12361
1433)
16701
(47,245)
116,951)
7,616
{30,058}
{7,183)
Transfers between funds
Net income before other
gains/(losses)
Other gain5 and losses:
Net movement In funds
(9,3351
{37,241}
1669)
(47,245)
{9,3351
{37,241)
1669}
(47,2451
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
175,126
1,225,343
15,001
1,415,470
165,791
1,188,102
14,332
1,368,225
4 Income from donations and legacies
Unrestrlcted
Total
Total
2023
2024
Donations and admissions
19,682
5,378
25,060
19,682
5,378
25,060
13,223
1,850
15,073
Grant income lunrestrictedl
Page 13

Narberth Museum Limlted
Notes to the Accounts
5 Income from charltable actlvities
Unrestricted
Restricted
Total
2024
Total
2023
Sale of educational materials
21,034
21,034
125,368
146,402
22,570
11,968
34,538
Grant income Irestrictedl
125,368
125,368
21,034
6 Income from other trading activities
Unrestricted
Total
Total
2024
2023
Fundraising events
Cafe sales
13,300
7,653
722
13,300
7,653
722
10,846
7,557
1,436
19,839
Room hire
21,675
21,675
7 Income from Investments
Unrestricted
Endowment
Total
Total
2024
2023
Dividends received on COIF
438
438
434
investment
Deposit account interest
2,043
2,043
2,043
2,481
999
438
1,433
8 Other income
Unrestricted
Total
Total
2024
2023
Feed in Tariff
1,954
1,954
1,954
1,954
2,230
2,230
9 Expenditure on raising funds
Unrestricted
Total
Total
2024
2023
Fundroising trading costs
Fundraising events
Cafe sales
2,972
2,972
2,511
1,021
6,504
2,080
3,701
1,709
7.490
2,511
1,021
6,504
Room hire
Page 14

Narberth Museum Llmlted
Notes to the Accounts
10 Expendlture on charitable activities
Unrestricted
Restricted
Total
Total
2023
2024
Expenditure on charitable
octivities
Sale of educational materials
14,206
14,206
134,268
13,969
12,608
Grant income Irestricted}
Governance costs
134,268
Accountancy
1,300
15,506
1,300
149,774
1,230
27,807
134,268
11 Other expenditure
Unrestricted
Restricted
Total
Total
2024
2023
Employee costs
Motor and travel costs
35,749
35,749
39,684
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
16,694
16,694
11,845
280
29,418
29,698
29,984
3,272
513
3,272
513
2,878
Legal and professional costs
56,513
29,418
85,931
84,391
12 Net expenditure before transfers
2024
2023
This is stated after charging:
Depreciation of owned fixed assets
13 Staff costs
29,698
29,984
2024
35,177
572
2023
Salaries and wages
Pension costs
38,810
874
35,749
39,684
No employee received emoluments in excess of £60,000.
The average monthly number of full time equivalent employees during the year was as follows:
2024
Number
2023
Number
Administration and
fundraising
Women of West Wales
project
Page 15

Narberth Museum Limited
Notes to the Accounts
14 Tangible fixed assets
Land and
buildings
Fixtures,
fittings and
equipment
Total
Cost or revaluation
At l April 2023
At 31 March 2024
Depreciation and
impairment
At l April 2023
Depreciation charge for the
year
At 31 March 2024
1,531,550
1,531,550
56,201
56,201
1,587,751
1,587,751
283,195
55,641
338,836
29,418
280
29,698
312,613
55,921
368,534
Net book values
At 31 March 2024
At 31 March 2023
1,218,937
1,248,355
280
1,219,217
1,248,915
560
15 Investments
Other
Investments
Listed
Total
Cost or revaluatlon
At l April 2023
Revaluation
At 31 March 2024
Net book values
At 31 March 2024
At 31 March 2023
14,332
1,408
15,740
14,332
1,408
15,740
15,740
14,332
15,740
14,332
16 Stocks
2024
2023
Finished goods
8,428
8,428
10,673
10,673
Carrying value analysed by activltles
2024
2023
Sale of educational materials
Cafe sales
8,208
220
8,428
10,473
200
10,673
Page 16

Narberth Museum Limited
Notes to the Accounts
17 Debtors
2024
2023
Trade debtors
VAT recoverable
Other debtors
510
289
1,354
81
521
1,413
2,212
1,956
18 Creditors:
amounts falling due within one year
2024
2023
Trade creditors
847
2,381
346
180
1,230
4,137
Other taxes and social security
Other creditors
Accruals
210
130
1,230
2,417
Page 17

Narberth Museum Limited
Notes to the Accounts
19 Movement in funds
Incomlng
resources
At31
March
2024
Resources
expended
Gr05S
transfers
(Including
At l April
other
2023 gains/losses)
Restricted funds:
Endowment funds:
13,783
438
1438)
13,783
Total
13,783
438
{4381
13,783
Restricted income funds:
1,188,102
125,368
1163,686}
15,764) 1,144,020
Total
1,188,102
125,368
1163,686)
15,7641 1,144,020
Unrestricted funds:
General funds
165,791
71,766
{78,523)
6,202
165,236
Revaluation Reserves:
Endowment funds..
549
1,408
1,957
Total
549
1,408
1,957
Total revoluation reserves
549
1,408
1,957
Total funds
1,368,225
198,980
1242,2091
1,324,996
Purposes and restrictions in relation to the funds:
Revaluation reserves
Represent the amount by which investments exceed their historical cost.
20 Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
Fixed assets
Investment5
60,918
1,158,299
15,740
2,644
1,176,683
1,219,217
15,740
90,039
1,324,996
Net current assets
87,395
148,313
Page 18

Narberth Museum Limited
Notes to the Accounts
21 Reconciliation of net debt
At31
March
2024
At l April
2023
Cash flows
Cash and cash equivalents
96,486
96,486
(14,6701
{14,67Q)
81,816
81,816
Net debt
96,486
{14,670)
81,816
22 Commitments
Operating lease commltments
Annual commitments under non-cancellable operating leases are as follows:
2024
Land and
buildings
2024
2023
Land and
buildings
2023
Other
Other
Operating leases with expiry date:
Pension commitment5
The company operates a defined contribution pension scheme which all employees are entitled to join.
2023
2024
The pension cost charge to the company
amounted to:
572
874
Unpaid contributions due to the fund are
included in other creditors and amounted to,.
130
180
23 Related party disclosures
Controlling porty
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 19