WALES MILLENNIUM CENTRE
WMC aims to create a special place which will provide a focal point for the unique culture, identity and talents of Wales though the creation of a world class showcase for musicals, opera, dance, exhibitions, entertainment and education in a millennium landmark, with long lasting benefits for the whole community.
Financial health, per its FY2025 accounts
The accounts state that the charity reported a net income of £2.4m before depreciation and amortisation, with total income of £28.2m against expenditure of £27.8m. The charity holds unrestricted free reserves of £3.5m, which exceeds its stated policy target of three months' running costs (£1.5m). The trustees confirm the organisation is prepared on a going concern basis with secured funding from Arts Council Wales until March 2026.
What the accounts disclose
“£190,001 - £200,000 1” — page 38
“The principal funding sources within the business for the year ended 31 March 2025 (shown proportionately against total income) are theatre income 63%” — page 21
“Trustees have determined that an appropriate level of free reserves (excluding designated reserves) to address operational risks for the management of unexpected reductions in income or increases in expenditure, should equate to three months running costs taking account of the current economic conditions and our business model, currently £1.5m”
“During the year the group purchased £5k of goods from Hudson Blue Limited, a company controlled by a member of the Executive Team.” — page 48
Year-over-year changes
- Going concern: going-concern doubt noted (FY2024) → no going-concern doubt (FY2025).
Corporate structure
- Registered company of the charity Companies House 03221924
Leadership, per the charity’s website
- Graeme Farrow — Chief Creative Officer
Company officers (Companies House)
- JONES, Geraint Allan on trustee list
- MURINDE, Vivian on trustee list
- WILLIAMS, Nan on trustee list
- HAINES, Julie-Ann on trustee list
- TALFAN DAVIES, Rhodri William not on trustee list
- KACHAWAHA, Amit on trustee list
- GOULDER, Nicky on trustee list
- REES, Joanna on trustee list
- SWINBURN, Peter on trustee list
- TILSLEY, Geraint Rhys
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/03/2025)
Trustees
- Peter Swinburnchair
- Amit Kachawaha
- Geraint Allan Jones
- Joanna Rees
- Julie-Ann Haines
- Nan Williams
- Nicky Goulder
- Rhodri William Talfan Davies
- Vivian Murinde
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £28.1m | £27.8m |
| 31/03/2024 | £23.1m | £24.6m |
| 31/03/2023 | £26.6m | £27.4m |
| 31/03/2022 | £15.6m | £18.0m |
| 31/03/2021 | £10.2m | £9.1m |
Common questions
Is WALES MILLENNIUM CENTRE financially healthy?
Per its FY2025 accounts: The accounts state that the charity reported a net income of £2.4m before depreciation and amortisation, with total income of £28.2m against expenditure of £27.8m. The charity holds unrestricted free reserves of £3.5m, which exceeds its stated policy target of three months' running costs (£1.5m). The trustees confirm the organisation is prepared on a going concern basis with secured funding from Arts Council Wales until March 2026. Its FY2025 accounts were audited by Bishop Fleming Audit Limited.
What does the highest-paid employee of WALES MILLENNIUM CENTRE earn?
Per its FY2025 accounts, the highest-paid employee was in the £190,001 - £200,000 band.
Who funds WALES MILLENNIUM CENTRE?
Funders whose own accounts filings name WALES MILLENNIUM CENTRE as a grant recipient include CYNGOR CELFYDDYDAU CYMRU, MOONDANCE FOUNDATION, THE SIMON GIBSON CHARITABLE TRUST, COLWINSTON CHARITABLE TRUST, THE MARY HOMFRAY CHARITABLE TRUST.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| CYNGOR CELFYDDYDAU CYMRU | FY2023 | £3.9m | Core funding |
| MOONDANCE FOUNDATION | FY2023 | £220k | |
| CYNGOR CELFYDDYDAU CYMRU | FY2023 | £36k | Cost-of-living support |
| MOONDANCE FOUNDATION | FY2022 | £27k | Causes in Wales |
| THE SIMON GIBSON CHARITABLE TRUST | FY2023 | £15k | |
| COLWINSTON CHARITABLE TRUST | FY2024 | £8k | Support the development costs of a project, which will be featured in the 2024 Festival of Voice. |
| THE SIMON GIBSON CHARITABLE TRUST | FY2022 | £5k | |
| THE MARY HOMFRAY CHARITABLE TRUST | FY2024 | £5k | |
| THE MARY HOMFRAY CHARITABLE TRUST | FY2023 | £3k | |
| THE MARY HOMFRAY CHARITABLE TRUST | FY2025 | £0 |
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Community Fund | 18/03/2019 | £9k | RawFfest: Youth-Led Arts Festival |
| The National Lottery Heritage Fund | 28/11/2014 | £47k | "Tiger Bay Tales" |
| The National Lottery Community Fund | 29/07/2010 | £5k | Community Tea Dances |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE OAKDALE TRUST | 2 | £2k |
| NATIONAL ART COLLECTIONS FUND | 1 | £118k |
| PAUL HAMLYN FOUNDATION | 1 | £65k |
| THE RATCLIFF FOUNDATION | 1 | £10k |
| THE JOHN S COHEN FOUNDATION | 1 | £10k |
| DEVELOPMENTS IN LITERACY UK (UK) | 1 | £10k |
| THE ANTHONY AND ELIZABETH MELLOWS CHARITABLE SETTLEMENT | 1 | £6k |
| The Ashley Family Foundation | 1 | £5k |
Charities like this
- MILLENNIUM STADIUM CHARITABLE TRUST
- CYNGOR CELFYDDYDAU CYMRU
- WELSH DANCE THEATRE TRUST LIMITED
- NATIONAL MUSEUM OF WALES
- WELSH CENTRE FOR INTERNATIONAL AFFAIRS / CANOLFAN MATERION RHYNGWLADOL CYMRU
- NATIONAL DANCE COMPANY WALES
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| WALES MILLENNIUM CENTRE | £28.1m | £190,001 - £200,000 | — | unclear | — | no doubt |
| MILLENNIUM STADIUM CHARITABLE TRUST | £591k | — | 0 | above | — | no doubt |
| CYNGOR CELFYDDYDAU CYMRU | £57.7m | — | — | unclear | 7.0% | no doubt |
| WELSH DANCE THEATRE TRUST LIMITED | £598k | — | 0 | unclear | — | no doubt |
| NATIONAL MUSEUM OF WALES | £49.2m | — | — | unclear | — | no doubt |
| WELSH CENTRE FOR INTERNATIONAL AFFAIRS / CANOLFAN MATERION RHYNGWLADOL CYMRU | £1.2m | — | 0 | within | — | no doubt |