SOUTH WALES MINERS WELFARE TRUST FUND SCHEME
Latest income
£696k
Latest spending
£1.2m
Registered
1978
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that the charity reported an operational deficit of £483,232, which was offset by net investment gains of £378,139, resulting in an overall reduction in asset value of £105,093. Per the trustees' report, total incoming resources were £695,654 against total resources expended of £1,178,886, with unrestricted reserves standing at £8,126,916 at year-end.
What the accounts disclose
Reserves policy: conscious draw down from reserves on a gradual basis with the intention of assisting mining beneficiaries during their remaining lifetime (held: £8.1m)
“The Trustees regard demand for social welfare assistance to still be in the region of ten to fifteen years, and are therefore committed to a conscious draw down from reserves on a gradual basis with the intention of assisting mining beneficiaries during their remaining lifetime.”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Court Royal Convalescent Home Limited, company registration number 03533202, is supported by the Charity. The company and Charity share Trustees with the Charity which owns the building from which the company operates. A deed of covenant is in place whereby the company has agreed to make a donation to the Charity of all its taxable profits.
“The Court Royal Convalescent Home Limited, company registration number 03533202, is supported by the Charity. The company and Charity share Trustees with the Charity which owns the building from which the company operates. A deed of covenant is in place whereby the company has agreed to make a donation to the Charity of all its taxable profits.” — page 22
“The Charity purchased the Atlantic Hotel Tenby in March 2022 which is structured as The Atlantic (South Beach) Tenby Limited, company registration number 13737497, with Trustees Christopher Earland and Wayne Thomas being the two Directors of this company. Investment in the company is detailed in note 9 to the accounts. A deed of covenant is in place whereby the company has agreed to make a donation to the Charity of all its taxable profits.” — page 22
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Charity purchased the Atlantic Hotel Tenby in March 2022 which is structured as The Atlantic (South Beach) Tenby Limited, company registration number 13737497, with Trustees Christopher Earland and Wayne Thomas being the two Directors of this company. Investment in the company is detailed in note 9 to the accounts. A deed of covenant is in place whereby the company has agreed to make a donation to the Charity of all its taxable profits.
“The Court Royal Convalescent Home Limited, company registration number 03533202, is supported by the Charity. The company and Charity share Trustees with the Charity which owns the building from which the company operates. A deed of covenant is in place whereby the company has agreed to make a donation to the Charity of all its taxable profits.” — page 22
“The Charity purchased the Atlantic Hotel Tenby in March 2022 which is structured as The Atlantic (South Beach) Tenby Limited, company registration number 13737497, with Trustees Christopher Earland and Wayne Thomas being the two Directors of this company. Investment in the company is detailed in note 9 to the accounts. A deed of covenant is in place whereby the company has agreed to make a donation to the Charity of all its taxable profits.” — page 22
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: The Atlantic (South Beach) Tenby Limited
“The Charity purchased the Atlantic Hotel Tenby in March 2022 which is structured as The Atlantic (South Beach) Tenby Limited, company registration number 13737497” — page 22
Per its FY2024 accounts as filed with the Charity Commission.
Structured financials (annual return, FY ending 31/12/2024)
Total income
£696k
Total spending
£1.2m
Cost of raising funds
£32k
Reserves (reported)
£1.4m
Employees
18
Register events
- Received assets from another charity (22/05/2014)
- Received assets from another charity (19/05/2014)
- Received assets from another charity (19/05/2014)
- Received assets from another charity (14/03/2014)
Trustees
- Christopher Earland
- KEVIN THOMAS WILLIAMS
- MARTIN ROY PARSONS
- Peter Lawrence
- WAYNE THOMAS
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £696k | £1.2m |
| 31/12/2023 | £898k | £1.1m |
| 31/12/2022 | £599k | £1.0m |
| 31/12/2021 | £453k | £581k |
| 31/12/2020 | £434k | £656k |
Common questions
Is SOUTH WALES MINERS WELFARE TRUST FUND SCHEME financially healthy?
The accounts state that the charity reported an operational deficit of £483,232, which was offset by net investment gains of £378,139, resulting in an overall reduction in asset value of £105,093. Per the trustees' report, total incoming resources were £695,654 against total resources expended of £1,178,886, with unrestricted reserves standing at £8,126,916 at year-end. Its FY2024 accounts were audited by R H Jeffs & Rowe.