Glenwood Church Annual Report and Accounts For the year to 31 March 2024
Contents Charity Inforn]ation Report of the Trustees Report of the Independent Examiner Statement of Financial Activities Balance Sheet io Notcs to thc Accounts 11-20
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Charity Information Charity Name: Glenwood Church Charity Number: 1125128 Registered OtTice: Glenwood Church Centre Circle Way West Llanedeyrn Cardiff CF23 6UW Trustees: Norman Adams Clive Evans Paul Francis Esther Mantle Robcrt Parsons Senior Church Leader Paul Francis Independent Examiner: Steve Ellum Steve Ellum & Associates Ltd Adulam House Glan Yr Afon Llanelli SA15 3QB Bankers: The Co-operative Bank plc PO Box 250 Delf House South Way Skelmersdale WN8 6WT Solicitors Looscmorcs Alliance House 18119 High Street Cardiff CFIO IPT
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Report of the Trustees For the Year to 31 March 2024 The trustees present their report and the independently exatnined financial statements of the ch<irity for the year ended 31 March 2024. The financial statements comply with the Charities Act 201 I, the Trust Deed, 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 (FRS 102) (effective l January 2019). Objectives of the Trust Glenwood Church is a community of followers of Jesus Christ, committed to living by faith, to be known by love, and to be a voice of hope. We are a diverse group of people who are part of a broken and fragmented humanity, which, by God's grace, can be transfornied into a community that is healed and restored. We welcome people from all walks of life, regardless of where they are in their spiritual journey. The Objects of the trust, all for the benefit of the public, and as given in the amended Trust Deed, are.. To advance the Christian faith in such ways and in such parts of the United Kingdom or the world as the trust¢¢s from time to time may think fit To advance education in such ways and in such parts of the United Kingdom or the world as the trustees from time to time may think fit To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the Trustees from time to time may think fit The protection and preservation of the environment, in particular the built environment, for the benefit of the public by the maintenance repair or restoration of any building or structure which is of historic or architectural interest or is a place of religious worship The Trustees use the income and the capital of the Church in promoting these Objects for the public benefit. The Trustees review the aims, objectives and activities each year. The outcomes of the Trust's work over this reporting year are set out below. In particular, we preseni the huge range of outcomes in keeping with the above objects, and the benefits they have bTought to the groups of people we are set up to help. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and keep it in mind in all developments, to ensure that all our activities are delivering benefit to the public, as defined there. Objectlves and activities Through our programme we aim to: Encouragc onc anothcr to be pcoplc who know and lovc God, pcoplc who arc passionatc, spiritually healthy and engaged in our local communities: Be agents of change in and through the communities we are involved in" Serve the poor, the marginalized, the victimized and powerless of our world, regardless of race, religion, gender, disability and sexual orientation- Recognise and develop the latent gift in all of us- Scrvc the widcr church community in Cardiff and South Wales. To finish and open new wellbeing space; To continue to fiu]draise for wellbeing space; To run a number of courses on healthy eating for local community; To run course on stress management for local community; To explore different ways to help people on their journey of discovery of faith;
Glenwood Church - Annual Report for the Year to 31 March 2024 Objectives and activities (continued) To continue discussions about leadership succession planning- To run internship programme with different model. To develop our partnership with the local health centre; To support our youth worker in the development of the work. To support children's worker in training for 'Play Therapy," To host a spiritual direction, week; To develop relationships with churches across South Wales- To partner ivith churches throughout Wales for the extension of God's Kingdom; To develop and facilitate creativity in the local church. To support, train and develop small groups of people living out their faith in the local community; To see our partnership with people from Glenwood swerving overseas. Achievements and performance During thc ycar wc: Appointed a new Community worker, Jo Kelly on 2.5 days; Appointed a new Building Maintenance Manager, Alice Jackman on 2.5 days. Appointed a new TA VS worker Hannah Westwell on 3 days; Hosted a new 'Five Senses of Chrtstmas; MoTrcd our Week of Prayer to Summer . Hosted 5 events on 'Faith though Art.; Increased our range of therapeutic care through the Wellbeing Space" Continue our partnership with churches in Cardiff and Wales. Increased our hire of rooms and halls in the building. particularly from people and organisations that are based in the local community. Also used by Council to deliver courses for local community. Continued to support and develop our children's and young people's work ihough our two members of staff- Ran one "Treasure the Questions"; Continued our discussion on trdnsition. Public benefit The Trustees have paid due regard to the Charity Commission guidance on public benefit in deciding what activities the charity should undertake. The paragraphs above provide further infonnation. Structure, Governance and Management Governing document Glenwood Church is a registered charity governed by its Trust Deed dated 5 June 2006 as amended by resolution dated 14 October 2008 as amended 21 December 2008. Board of Trustees The trustees are members of the church and are a combination of members of the main leadership team and other appropriate people. They are appointed jointly by the trustees and leadership team.
Glenwood Church - Annual Report for the Year to 31 March 2024 Organisation The trustees review the financial perforniance of the charity al each meeling, as well as a review of the fabric of the buildings and employment issues. Day to day leadership of the church is carried out by the church's leadership team, which meets monthly and is chaired by the Senior Leader, Paul Francis. A number of people take responsibility for the church and trust finance and administration, supported by 0.6 whole-time-equivalent bookkeepers. Each month, a report of the financial position is taken to the monthly Church Leadership meeting. A financc tcam mccts tbrcc timcs a ycar to monitor cash flow. Thc trustccs mcct at Icast thrcc timcs a ycar. Induction and training of Trustees The need for new trustees is reviewed regularly, and when appropriate, possible names are presented at a trustee meeting for consideration. The existing trustees make any new appointments, for an indefinite period. New trustees are giveTJ copies of the governing documents, appropriate Charity Commission information and recent trustee minutes. Trustees are encouraged to attend external training events, where these will be of benefit to their rolc. Related Parties Glenwood Church works closely with Hope Trust (1161235), Action in the Community Trust ( l 019973) and Going Public Trust (1019789). There are some trustees who act as trustees of more than one of these charities. Glenwood Church supports Going Public's work in using creative and perfom]ance in schools, and hosts their internship programme. Glenwood also support Hope Trust in its work with some of the most vulnerable in our society and also Action in the Community's work, in helping those in debt and ,hO have need for advice with welfare benefits and legal problems. Glenwood Church is also related to Care for the Family through tn]stees and leaders, but there are minimal transactions between the two. All transactions between the organisations are accounted for appropriately. Risk Management The management committee regularly Teviews the major risks to which the charity is exposed and systems are established to mitigate these risks. These procedures are periodically reviewed to ensure that they still meet the needs of the charity. Financial Review Results Net oiiÉgoing resources for the year amounted to £13,765 (2023.. £15,450 outgoing). Unrestricted funds carried fonvard at the year end were £1,977,812 (2023: £1,995,747). Restricted funds Caled fonvard at the year end were £8,116 (2023: £3,946). Key Management Personnel Remuneration Key management personnel remuneration is set in line with remuneration for similar roles in other charitable organisations. Going concern The trustees continue to closely monitor the trading perfom]ance of the charity in the light of very challenging times for the charity sector. They recognise the need to increase income and control costs and to secure the financial position of thc cbarity. Thcsc stcps includc working closcly wilh othcr charitics, sharing rcsourccs, increasing income from hires of charity facilities, and reviewing monthly perforn]ance against budgets. They have therefore prepared these accounts on a going concern basis.
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Reserves policy The Trustees have established a policy whereby the unreslricted funds. not committed or invested in tangible fixed assets (the free reseTr'es") held by the charity, and given the significant financial risks faced by charities nowadays, will be retained on deposit as a contingency fund, up to £40.000, over coming years. Free reserwes are currently £19,812 (2023: £17,072) and the elL]lY continues to develop its fundraising to meet the free reserves target. Investment policy The trustees have considered that cash funds should be deposited in low risk deposits and are included as current assets (cash at bank). Plans for future periods In the year April 2024 to March 2025, to rther advance our aims for the public benefit, these are some of our plans: Work with church on transition; Working with Laura in transition to leadership" To focus or Christmas support with TAVS centre. To estAblish closer links betsveen Glenwood and Tavs Centre; Establish Week of Prayer in June; Host a series of events on 'Faith though Art To broaden our range of therapeutic care through the Wellbeing Space; To continue our partnership with churches in Cardiff and Wales" To continue to hire out rooms and halls in the building, particularly from people and organisations that are based in the local community; To continue to support and develop our children's and young people's work though our two members of staff; To run a follow up programme from "Treasure the Questions" To support Going Public and their work with interns and young adults; To continue to create an inviting inclusive church expressed through our value. To continue to have a Sunday gathering that is vibrant, accessible and inviting to all people. Continuc to devclop our Wcllbcing Coursc and Bcrcavcmcnt journcy.
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Responsibilities of the Trustees The trustees are responsible for preparing the Tnjstees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to: select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent" state whether applicable UK Accounting Standards have been followed, subject to any material dcparturcs discloscd and cxplaincd in thc financial statemcnts. and prcparc thc fmancial statcmcnts on thc going conccrn basis unlcss it is inappropriatc to prcsumc that thc charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 201 l and applicable Charity (Accounts and Reports) Regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the board Clive Evans Trustcc Paul Francis Trustcc Date: 12 December 2024
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Independent Examiner's Report To the Trustees of Glenwood Church For the Year to 31 March 2024 Independent examiner's report to the trustees on the un2udited financial statements of Glenjvood Church. I report on the accounts of Glenwood Church for the year ended 31 March 2024 set out on pages 2 to 20. Responsibilities and basi5 of report As the charity's trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carricd out undcr scction 145 of thc 201 l Act and in carrying out my examination, I have followed all thc applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement The charity's gross income exceeded £250.000 and l am qualified to undertake the examination by being a qualified member of the Inslitute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: l ) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2) the accounts do not accord with those records; or 3) the accounts do not comply with the applicable requirements concerning the forn] and content of accounts set out in the Charities (Accounts and Reports) Regulalions 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I havc no conccrns and havc comc across no othcr mattcrs in conncction with tbc examination to which attcntion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Steve Ellum & Associates Chartered Accountant Independent Examiner Adulam House Glan Yr Afon SA15 3QB Date: 12 December 2024
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Statement of Financial Activlties For the Year Ended 31 March 2024 Unrestricted Restricted funds funds Total 2024 Total 2023 Notes Income from: Donations and legacies 274,849 43,735 318,584 327,812 Charitable activities 20,152 20,152 16,345 Investments 265 265 54 Total Income 295,266 43,735 339,001 344,211 Expenditure on: Raising funds Charitable activities 4.553 328,648 4,553 348,213 4,800 354,861 19,565 Total Expenditure 333,201 19,565 352,766 359,661 Net (e%penditure)/ineome and Net movement in funds before transfers (37,935) 24,170 (13,765) (15,450) Transfers between funds 16 20,000 (20,000) Net incomel(expenditure) and INet movement in funds (17,935) 4,170 (13,765) (15,450) Reconciliation of Funds Total funds brought fonvard 1,995,747 3,946 1,999,693 2,015,143 Total funds carried fonvard 1,977,812 8,116 1,985,928 1,999,693 The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. The notes on pages 14 to 20 form part of these financial statements.
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Balance Sheet at 31 March 2024 2024 2023 Notes Fixed assets Tangible assets 11 1,969,607 2,005,808 Total fixed assets 1,969,607 2,005,808 Current assets Debtors c.ash at bank and in hand 12 24,329 41,219 12,858 30,095 65,548 42,953 Creditors: Amounts falling due within one year 13 (31,784) (9,405) Net current assets 33.764 33,548 Total assets less current liabilities 2,003,371 2,039,356 Creditors: Amounts falling due after more than one year 14 (17,443) (39,663) Net assets 1,985,928 1,999,693 Represented by: Unrestricted funds Rcstrictcd fLU]ds 15 16 1,977,812 8,116 1,995,747 3,946 1,985,928 1,999,693 These financial statements were approved and authorised for issue by the trustees and signed on their behalf by: Clive Evans Trustee Paul Francis Trustee Date: 12 December 2024 10
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 Company information Glenwood Church is a registered charity number 1125128. The registered office is Glenwood Church Centre, Circle Way West, Llanedeyrn, Cardiff CF23 6UW. Accounting Policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. Basis of preparation of financial statements The financial statements have been prepared in accoidance 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 102) ) (effective January 2019) - (Charities SORP (FRS102)), the Charities Act 201 l and UK Generally Accepted Practice as it applies from l January 2019. Glenwood Church meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise stated in the relevant accounting policy note. The trustees continue to pursu¢ strategies to increase the number of grants and donations needed to fund the work, and hence these accounts have been prepared on a Going Concern basis. The financial statements are prepared in sterling (£), and rounded to the nearest pound. Income All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of grants. donations and gifts and is included in full in the statement of financial activities hen receivable. Grants where entitlement is not conditional on the delivery of a specific perforn]ance by the charity. are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at ihe value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Incomc from invcstmcnts is includcd in thc ycar in which it is rcceivablc.
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 Expenditure All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay. Expenditure includes any VAT which cannot be fully recovereQ and is reported as part of thc cxpcnditurc to which it rclatcs: Raising Funds represents expenditure incurred in motivating the individual supporters, trusts and other organisations to contribute to the work of the charity" costs associated with the running of the charity shop and investment management costs. Charitable acÉivities represents those costs incurred by the charity in the delivery of its activities and services for it5 beneficiaries. It includes both costs that can be allocated directly to such <ictivities and those of an indirect nature necessary to support them. All costs including support costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating io a particular activity are allocated directly; others are apportioned on the basis of an estimate of the proportion of time spent by staff on the activity. Support costs are those costs which do not in themselves constitute an activity; instead they enable output creating activities to be undertaken. This cost category includes the central or regional office functions such as general management, human resources and payroll administration, budgeting and accounting, and infonnation technology. Fund accounting The charity maintains various types of funds as follows: General unreslrictedfiinds represent income which can be used in accordance with the charitable objects at the discretion of the trustees. Designatedfunds represent income set aside by the tnjstees out of general unrestricted funds for specific future purposes or projects. Re.gtrictedfund.s represent income to be used in accordance with specific restrictions imposed by donors or which has been raised by the charity for particular purposes. Fixed assets and depreciation Tangible fixed assets are stated at cost less accumulated depreciation. Dcpreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: Frcchold Land and Buildings Fixtures fittings and equipment Straight Linc ovcr 73 ycars and 50 ycars 15 /0 Straight line Debtors and creditors receivable I payable Ivithin one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairnient are recognised in the statement of financial activities. Cash and cash equivalents Cash and cash equivalents in the balance sheet comprise cash at bank and in hand. For the purpose of the cash flow statement, cash and cash equivalents are net of bank overdrafts which are payable on demand. 12
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 Net income l (expenditure) 2024 2023 Thc nct incomc / (cxpcnditurc) for thc ycar is slatcd after charging: Depreciation and other amounts written off tangible fixed assets: Owned assets Independent Examiners Fee 36,201 1,365 36,201 1,300 Donations and Legacies Unrestricted funds Restricted funds Total 2024 Total 2023 Regular giving Offerings One-off gifts Grants received Tax rcbatc 206,883 6,245 9.012 10,082 42.627 600 207,483 6,245 52,147 10,082 42,627 194,099 5,670 76,894 450 50,699 43,135 274,849 43,735 318,584 327,812 Income from charitable activities Unrestricted Unrestricted Total Total 2024 2023 Building hire Food Club Seniors lunch club Miscellaneous sales 8,649 10,535 1,156 3,854 800 4,633 6,870 20,152 16,345 Investment income Unrestricted Unrestricted Total Total Funds Funds 2024 2023 Bank interest receivable 265 54 13
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 Cost of charitable activities - by fund type Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Church ministry Grants and donations - mission giiing 276,104 52,544 19,565 295,669 52,544 309,033 45,828 328,648 19,565 348,213 354,861 Cost of charitable activitie5 - by activity .4ctivities undertaken 2024 Support costs 2024 Total funds 2024 Total funds 2023 Church ministry Grants and donations - mission giving 175,534 36,368 120,135 16,176 295,669 52,544 309,033 45,828 211,902 136,311 348,213 354,861 Analysis of support costs Church ministry 2024 Mission giving 2024 Total 2024 Total 2023 Piopcrty General Administration 99,777 20,358 11,086 5,090 110,863 25,448 98,337 29,783 120,135 16,176 136,311 128,120 14
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 Staff numbers and cost The average number of full time equivalent staff employed by the charity during the period, analysed by catcgory, including support staff was as follows: 2024 Number 2023 Number Charitable activities Wages and salaries Social security costs Pension costs 152,481 9,815 4,508 150,155 10,520 4,318 166,804 164,993 No staff member was paid more than £60,000 in the financial year. The total employment benefits, including employer pension contributions, of the key management personnel of the charity were £30,570 (2023: £29,152). io Trustees, emoluments Total 2024 Total 2023 Remuneration and other emoluments 33,533 32,064 As allowed by the Charity Trust Deed, Paul Francis received remuneration of £33,533 (2023: £32,064) including employers NI and had expenses reimbursed of £401 (2023: £112). 15
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 Fixed a55ets- Tangible Land and Buildings freehold Fixtures Fittings & Equipment Total Assets Cost At l Apr 2023 Additions 2.165,787 70,357 2,236,144 At 31 Mar 2024 2,165,787 70,357 2,236,144 Depreciation At l Apr 2023 Chargc for thc ycar 186,282 30,565 44,054 5,636 230,336 36,201 At 31 Mar 2024 216,847 49,690 266,537 Net Book Value At 31 Mar 2024 1,948,940 20,667 1,969,607 At 31 Mar 2023 1,978,505 26,303 2,005,808 The tangible fixed assets include the buildings of Glenwood Church Centre and the annexe ('Scout Hut,) and also the 'Tavs' centre at Tavistock Street, Cardiff. 12 Debtors 2024 2023 Trade debtors Gift aid tax recoverable Other debtors 21,014 3,265 50 3,457 8,251 1,150 24,329 12,858 13 Creditors: Amounts falling due Ivithin one year 2024 2023 Loans Trade creditors Other taxes and social security Other creditors Accruals and dcfcrrcd incomc 2,136 1,181 2,297 5,583 20,587 2,136 1,689 1,150 1,826 2,604 31,784 9,405 16
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 14 Creditors: Amounts falling due after more than one year 2024 2023 Loans 17,443 39,663 15 Unrestricted funds Balance at l Apr 2023 Incoming resources Outgoing resources Balance at Transfers 31 Mar 2024 General funds 1,981,081 275,835 (307,094) 20,000 1,969,822 Designated funds: Personal support Wann Spaces Youth work Mosawi Ukraine Othcr funds 1,189 6.168 9,982 (6,937) (9,982) (703) (2,062) (4,310) (2,113) 1,000 1,420 1,682 2,062 4,810 4,923 979 500 5,091 3,281 (1,000) Designated funds 14,666 19,431 (26,107) 7,990 Total unrestricted funds 1,995,747 295,266 (333,201) 20,000 1,977,812 Purposes of unrestricted funds General fund This represents the funds of the charity that are not designaied for any particular purposes but are available for the general running of the charity. Reserve This is a fund to build up a reserve to help with cash flow and any contingencies. Personal support Personal support represents funds received that are designated and passed onto Christian workers. Warm spaces This is a fund to provide a Warn] Space for the local community to come into the building at specified times for refreshments and meeting others. Youth Work Funds for the work with young people. Mosawi This fund was for work on thc kitchcn. food parccls and a dcbtlbcncfits projcct. During thc ycar, whcrc this fund was used for building work expenditure that was included in Fixed Assets, these funds were transferred to the General Fund. 17
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 16 Restricted funds Balance at l Apr 2023 Incoming resources Outgoing resources Balance at Transfers 31 Mar 2024 Gate Trust Food Pantry 20,000 23,735 (20,000) 3,946 (19,565) 8,116 Restricted funds 3.946 43.735 (19.565) (20.000) 8,116 Gate Trust This was grant made towards the repayment of the mortgage. When this grant was applied the fund was transferred to the General Fund. Food Pantry This fund was for the provision of fresh food for those in our community that are struggling. 17 Analysis of net assets between funds Total Funds 2024 Total Funds 2023 Unrestricted Funds Restricted Funds Tangible assets Current assets 1,969,607 57,432 1,969,607 65,548 2,005,8011 42,953 8,116 Current liabilities Long-temi Liabilities (31,784) (17,443) (31,784) (17,443) (9,405) (39,663) 1,977,812 8,116 1,985,928 1,999,693 18 Controlling parties In the opinion of the trustees there is no single ultimate controlling party of the charity. 18
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 19 Related parties Gate Trust Limited is related as three of the trnstees of the charity served as trustees of Glenwood Church during the financial year. These were Nonnan Adams, Paul Francis and Rob Parsons. During the year a grant of £20,000 (2023: £nil) was givcn to Glcnwood from Gatc Trust Limitcd. Thcrc wcrc no amounts outstanding at the year-end {2023: £nil). Hope Trust Cardiff CIO is related as Paul Francis, a trustee of the charity, also served as a trustee of Glenwood Church during the financial year. During the year invoices were raised by Glenwood Church to Hope Trust of £1,246 (2023: £488). At the end of the year Hope Trust owed Glenwood £ nil (2023.. £195). During the year, Glenwood made a gift of £2,160 (2023: £2,160) to Hope Trust CIO and passed on gifts for Hop¢ totalling £nil (2023: £5,219). Going Public Trust is related as two of the trustees of the charity served as trustees of Going Public Trust during the financial year. These were Paul Francis and Norman Adan]s. During the year Glenwood raised invoices of £ 2,014 (2023: £856). The amount owed to Glenwood by Going Public at the end of the year was £40 (2023.. £258). At the end of the year, Going Public owed Glenwood in respect of a loan the sum of £50 (2023: £650). The total donations made by related parties during the year, including the trustees, was £18,174 (2023: £19,498). 19
Glenwood Cburch - Annual Report for the Year to 31 March 2024 Notes to the Accounts for the year ended 31 March 2024 20 Statement of Financial Activities (including income and expenditure account) for the year ended 31" March 2023 Unrestricted Restricted funds funds Total 2023 Income from: Donations and legacies 316,862 10,950 327,812 Charitable activitie5 16,345 16,345 Investments 54 54 Total Income 333,261 10,950 344,211 Expenditure on: Raising Funds Charitable activities 4,800 330,080 4,800 354,861 24,781 Total Expenditure 334,880 24,781 359,661 Net income/(expenditure) and Net movement in funds before transfers (1.619) (13,831) (15,450) Transfers between funds Net income/(expenditure) and INet movement in funds (1.619) (13,831) (15,450) Reconciliation of Funds Total funds brought fonvard 1,997,366 17,777 2,015,143 Total funds carried forTrvard 1,995,747 3,946 1,999,693 20