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 Ca￿led 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