OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-12-31-accounts

COWBRIDGE MINISTRY AREA

Registered Charity 1131497

ANNUAL REPORT & FINANCIAL STATEMENTS YEAR ENDED 31[ST] DECEMBER 2025

Part of the Church in Wales in the Diocese of Llandaff

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

NOTICE OF ANNUAL VESTRY MEETING ON SUNDAY 10th MAY 2026 AT 11.30 a.m. IN HOLY CROSS PARISH CHURCH, COWBRIDGE, (following the Ministry Area Service at 10.30 a.m.)

The Annual Vestry Meeting of the Cowbridge Ministry Area will be held on Sunday 10[th] May 2026 at 11.30a.m. in the Parish Church of the Holy Cross, following the Ministry Area Service at 10.30 a.m. All persons whose names have been accepted in the Electoral Roll may speak, vote and be nominated for election, and are urged to attend.

AGENDA

Prayer

Chairman’s welcome

Apologies for absence

Minutes : The Annual Vestry Meeting of the Rectorial Benefice of Cowbridge held 4[th] May 2025 (pages 3-4)

Clergy Report

Ministry Area Council Report and Financial Statements:

Rectorial Benefice of Cowbridge Annual Report (pages 5-8)

Rectorial Benefice of Cowbridge Financial Statements for the year ended 31st December 2025 (pages 11-18)

Elections:

Appointment of a Ministry Area Warden

Election of a Ministry Area Warden Election of nominated members of The Ministry Area Council Appointment of Sub Wardens Election of Sub Wardens Election of Members of the Diocesan Conference (five in total) Election of Members of the Deanery Conference (six in total)

Confirmation of appointment of Independent Examiner

Any other business signified to the Parish Office in writing by Monday 4[th] May 2026

Nominations and details of any other business should be received by the Parish Office by Tuesday 5th May 2026. All persons nominating and nominated must be on the Electoral Roll, approved by the Ministry Area Council on 5th May 2026, and all who are nominated must have given their consent to nomination.

Following the conclusion of the Vestry meeting there will be a brief meeting of the new Ministry Area Council to coopt the Lay Chair, elect or co-opt a Secretary and Treasurer, and to confirm other co-options.

2

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497) Annual Report & Accounts 2025

The Minutes of the Annual Vestry Meeting held on Sunday 4[th] May 2025 at Holy Cross Parish Church.

Welcome: The Chair, Miss Andrea Harris welcomed everyone to the meeting and expressed grateful thanks to all who help in the Ministry Area on a day by day, week by week basis. Miss Harris welcomed all Clergy including Revd Suzanne Brumwell who has recently returned to live in the Ministry Area.

Prayer: The Meeting began with prayer led by Mr Christopher Auckland

Apologies were received from: Steph Bonnar; Cathy Mangles; Leonie Haine; Frances Rees; David Crompton; Gill Harris; Hilary Crompton; Margaret Langdon; Hilary Rees; Peter Mathias

It was noted that 41 members were in attendance.

Minutes of the previous Annual Vestry meeting of the Cowbridge Ministry Area held on 28[th] April 2024 at Holy Cross Parish Church were accepted on the proposition of Mr Peter Davies, seconded by Ms Penny Newman, approved by all and signed by the Chair as a true record.

Matters arising from the minutes: There were no matters arising.

Clergy Report: The Revd Duncan Ballard presented the Ministry Area Report booklet which gave a snapshot of all the work carried out across the Ministry Area over the last 12 months in all 15 churches and wider communities. The booklet was available for all at the meeting to take back to our congregations.

Ministry Area Council Annual Report & Financial Statements for the year ended 31[st] December 2024: Mr D.L. Jones presented this and on behalf of the Ministry Area and thanked all Treasurers for their largely unseen work throughout the year to record our finances.

Mr D.L. Jones drew attention to page 18 of the Financial Statements giving a synopsis year by year 2020 – 2024 and budget comparison. Looking at

the box at the foot of the page, there was a surplus for years 2021 and 2022 then deficit of around £17,000 for 2023. We did our best to reverse that but the amount nearly doubled – this is not sustainable.

A lot of work has been done by David-Lloyd Jones and Rev’d Duncan Ballard to find places where the deficit could be decreased. We are the largest ministry area in the Diocese, all our churches are Grade I/Grade II* listed and there is little or no fund available for the upkeep of these buildings. We also cannot do anything without architects and CADW. Our churches are well maintained but we do have about £1m of outstanding works.

The Ministry Area congregations were encouraged to pray and consider what we can do to bring the MA into surplus. If we continue in the way we are we will run out of reserves eventually. There are some things we will be doing to claw back some funds for example, with the recent project on the tower at Ystradowen which cost around £170,000, which with the VAT reclaim and support from the Evan Jenkins Charity is fully funded. We need to think about what individual churches can do to help reverse this trend.

Mr Richard Hain asked what proportion of the deficit was overspend. Mr David-Lloyd Jones said we had beaten the budget for the year but acknowledged that the Ministry Area have a huge amount of money to find.

The Report and Statements were proposed to be accepted by Peter Davies and seconded by Mrs Pamela Haines, the proposal was carried unanimously.

Miss Andrea Harris thanked Mr David-Lloyd Jones for his work as Treasurer and Administrator – there is a detailed job to do and we are thankful for his diligence and dedication.

3

Annual Report & Accounts 2025

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Elections:

Mr Peter Davies was elected as Ministry Area Warden.

Ms Penelope Newman was appointed as Ministry Area Warden.

The following were elected as Members of the Ministry Council:

Confirmation of appointment of an Independent Examiner: It was proposed by Penny Newman and seconded by Jen Denham that Adey Walker & Fitzgerald once again be appointed as Independent Examiner. This was agreed by all.

Any Other Business: There was no other business. The Meeting closed with prayer at 12.40 pm.

Mrs Pamela Haines Colwinston Mr David Crompton Flemingston Mr Peter Mathias Holy Cross Mrs Diane Workman Llanblethian Mrs Julia Keates Llandough Mr John Homfray Llanfrynach Mr Ray Jacques Llangan Mrs Margaret Langdon Llansannor Mr Jeremy Rawlins Llysworney Mrs Pamela Harris Penllyn Vacant St Hilary Mrs Catherine Mangles St Mary Church Mr Simon Lloyd St Mary Hill Mr Philip Evans Ystradowen

Sub-Wardens: The list of proposed Sub Wardens was read out, and all were in favour of their appointment. It was noted there is a vacancy in St Mary Church.

Deanery Conference members:

The following were elected as Members of the Deanery Conference: Mrs Jennifer Denham Miss Andrea Harries Mrs Liz Overton Mr Peter Davies Miss Steph Bonnar Mrs Andrea Walton Diocesan Conference members: The following were elected as Members of the Diocesan Conference: Mrs Jennifer Denham Miss Andrea Harries Mr Peter Davies Ms Penelope Newman Miss Steph Bonnar

4

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

REFERENCE & ADMINISTRATIVE DATA

The Cowbridge Ministry Area was created by Diocesan Decree on the 1[st] January 2022, being formed by the merger of the Parish of Colwinston, Llandow and Llysworney into the Rectorial Benefice of Cowbridge.

The Cowbridge Ministry Area Council (MAC) formerly the Parochial Church Council (PCC) is registered with the Charity Commission for England and Wales; registered number 1131497.

The Ministry Area is centred on the old market town of Cowbridge, in the Vale of Glamorgan Deanery, and is part of the Church in Wales Diocese of Llandaff. The fifteen Churches which make up the Ministry Area are:

Holy Cross Parish Church, Cowbridge

St. John the Baptist, Llanblethian

St. Dochdwy, Llandough

St. Hilary, St. Hilary

St. Mary, St. Mary Church

St. Michael and all Angels, Flemingston

St. Senwyr, Llansannor

St. John the Evangelist, Penllyn

St. Owain, Ystradowen

St. Brynach, Llanfrynach

St. Canna, Llangan

St. Mary, St Mary Hill

St. Michael and all Angels, Colwinston

St. Tydfil, Llysworney Holy Trinity, Llandow

The Cowbridge Ministry Area Office is in Holy Cross Parish Church, Church Street, Cowbridge, CF71 7BB, tel: 01446 772302

email: office@cowbridgeparish.com Website is www.cowbridgeparish.com Facebook: www.facebook.com/cowbridgeparish/

The names and addresses of the Incumbent, Independent Examiner, Bankers and other professional Advisors, together with the names of the MAC Members who have served in the year ending 31st December 2025, and on the date this report was approved (including details of any parochial office held) together with the details of the custodian trustees who held parish property and investments in the year ending 31st December 2025, and on the date this report was approved, are shown on page 9.

STRUCTURE GOVERNANCE & MANAGEMENT

The Church in Wales is governed by its Constitution, set up under Section 13(1) of the Welsh Church Acts 1914, as amended from time to time by its Governing Body. The MAC is not a body corporate. Its composition, procedure and powers are regulated by the Constitution. Before assuming office, every member of the MAC must sign a declaration that they will be bound by the Constitution, which provides that the members of the MAC shall be:

The constitution further provides that lay, communicant persons over the age of 16 may be entered on an Electoral Roll (subject to certain conditions) and that all such persons, so entered, are entitled to vote and to stand for election.

APPROVED by the Ministry Area Council on 5[th] May 2026 and signed on its behalf by Miss. A. Harries, Lay Chair.

5

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

OBJECTS AND ACTIVITIES

The Church in Wales is a province within the Anglican Communion and seeks to advance the Christian religion through worldwide mission. Its calling is to nurture people in the faith of Jesus Christ and to aid them to grow in the fellowship of the Holy Spirit, so that the good news of God’s grace may be clearly proclaimed in the world and that God’s Kingdom may be honoured and advanced.

Under the constitution, it is the MAC’s duty to:

The MAC is aware of the Charity Commission’s guidance on public benefit and have had due regard to that guidance when exercising any powers or duties to which the guidance is relevant. The MAC believes that it provides a benefit to the public, by:

MAC PROCEEDINGS & ACTIVITIES

General

The MAC met four times in 2025 to deal with all matters concerning the Ministry Area and consider reports from sub-committees to which some activities are delegated.

Membership

There were 258 members on the roll which was approved by the MAC at its meeting of the 5th May 2026 (2025: 258, 2024: 251, 2023: 260, 2022: 266, 2020: 234, 2019: 264, 2018: 261, 2017: 263).

MAC FINANCES: UNRESTRICTED FUNDS

Summary for 2025: Income and expenditure are detailed in the Statement of Financial Activities (page 11) and in the notes thereto. Total unrestricted income was £250,884 (compared with income of £212,384 in 2024, £212,268 in 2023, £246,222 in 2022, £179,500 in 2021, £149,506 in 2020, £184,222 in 2019, £186,390 in 2018). _The difference in income after 2022 was due mainly to the inclusion of £43,544 of unrestricted funds of the former Parish of Colwinston, Llysworney and Llandow in 2022 financial statements._

Common Fund (formerly know as Parish Share is primarily to fund clergy stipends and oncosts eg.NI, pension, housing, supervision, etc, which provides our main mission resource) continues to be the major Ministry Area expense and was £110,000. Other unrestricted expenditure was £139,105 compared to a budget figure of £146,282, making total unrestricted expenditure of £249,105 (2024: £249,650, 2023: £233,193, 2022: £200,251, 2021: £147,836, 2020: 144,513, 2019: £179,579 2018: 177,444). It is worth noting that, as with income, a proportion of expenditure is due to the inclusion of the former Parish of Colwinston, Llysworney and Llandow.

The income less costs resulted in an unrestricted fund surplus of £1,779 (there were no transfers between funds in 2025, £103 in 2024) compared with a deficit budget of -£53,894. There was a net gain on revaluation of investments of £5,538, making a total surplus for the year of £7,317.

This £61,211 improvement over budget is a remarkable outcome and thanks are due to all those who have worked so hard, in so many ways, to ensure the mission of the Church in our Ministry Area.

6

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

RESERVES POLICY & FUTURE PROSPECTS

After adding the surplus for the year, the unrestricted fund balance to carry forward is £398,456 of which £141,586 represents tangible fixed assets, leaving £256,870 as free reserves (2024: 249,553, 2023: £283,584, 2022: £304,392, 2021: £261,611, 2020: £221,971 2019: £214,632 2018: £200,649).

The MAC reserve policy is to retain a balance of unrestricted “free” reserves, as working capital and to meet future shortfalls in income or unexpected expense, equal to at least six months expenditure. The balance detailed above represents considerably more than this target, £128,141 when compared to the 2026 budget (see page 18) but the MAC has concerns (detailed below), which dictate continuing caution.

MAC FINANCES: DESIGNATED FUNDS

The proceeds from disposal of Llanfair Hall were set aside to fund extraordinary repairs and improvements to the churches of the Ministry Area. £4,764 interest has been added to the fund in the financial period. The balance carried forward being £118,412 to fund further such extraordinary expenditure in the Ministry Area, including quinquennial repairs. In 2022 The MAC resolved to make a contribution of £75,000 from the Llanfair Hall Fund towards work to stabilise the structure of the tower at St. Mary Church.

Llandough Church are actively seeking advice regarding the restoration and development of the church building to make it a multipurpose flexible worship and community space.

The Llanblethian Church Hall fund is for the running and maintenance of the hall by a delegated Hall Management Committee. Operational activities this year have resulted in a small surplus of £1,803.80 (2024: £1,340) and the Hall have also been fortunate to receive a grant of £9,600 during the period. The fund shows a yearend balance of £24,777.44. The Hall is usually well used, and the Hall committee have developed a plan to increase usage. The Hall is a significant asset to the church as a means of community engagement. The Church Hall Management Committee are to be congratulated for their hard work and dedication.

Llanblethian Church (together with Ystradowen Church) is a beneficiary of the Evan Jenkins Charity to fund repairs to the church up to certain limits imposed by its trust deed. However, there are exclusions including new equipment and facilities. Fees for filming at Llanblethian have been set aside to deal with those quinquennial repair and improvement costs which may not be covered by the Evan Jenkins Trust; the balance carried forward is £10,294.

Mission Fund: At its meeting of 8[th] December 2020 the PCC agreed that in the event of a deficit of unrestricted funds, this fund can be used towards the cost of the Assistant Parish Treasurer. The Parish mission fund balance carried forward is £20,794

MAC FINANCES: RESTRICTED FUNDS

Income and expenditure totals are shown in the Statement of Financial Activities on page 11 and in the accompanying notes; the movements in and details of each of the major funds is shown in note 19 to the Financial Statements. Charity law provides that the restricted fund balances carried forward may only be expended upon the purpose for which the funds were given.

RISK ASSESSMENT

The MAC has reviewed the risks to its operations and is satisfied that they are mitigated in so far as the MAC has power to do so. The major risks are assessed as:

7

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

· The ability to maintain income sufficient to match increasing costs.

FUND INVESTMENT AND ADEQUACY

Restricted and designated fund balances are largely represented by on-demand deposits and current account bank balances. Free unrestricted reserves are represented by similar deposit and bank balances, plus investments, the latter being approximately equal to 54% of free unrestricted reserves at year end. The net yield on the listed investments including a gain on revaluation in 2025 was 5.5% based upon the year end value. The investments are described in note 12 to the Financial Statements.

CHURCH FABRIC

The MAC regularly review its priorities regarding the repair of its buildings. The MAC noted there has been a drastic cut in the already limited funding available from external sources and it has become extremely difficult to contract the specialised trades people required for works to listed buildings. As previously noted, the removal of the LPWGS will further exacerbate the situation.

St. Hilary Church: The works to the Tower were completed in 2022. The MAC agreed a loan to the St. Hilary Church Committee of £30,000 repayable over 15 years. We are pleased to report that grant funding, fundraising and budgetary control have further reduced the project deficit to -£4,287. It is anticipated this deficit will be ameliorated during 2026.

Llanblethian Church: Approval from the Evan Jenkins Charity has been given for a rolling programme of minor works, noted in the Quinquennial Inspection, over the next 3 to 5 years.

Llansannor Church. £19,000 of works noted in the Quinquennial Inspection are outstanding.

Llandough Church is investigating the provision of a kitchen and toilet in the church which will require a faculty application and planning permission in due course.

Ystradowen Church: Work to the Tower of the church has been completed. The Evan Jenkins Charity agreed to fund this work over two years 2025/26 and it is anticipated this project will be completed funded by the end of 2026. Thanks are due to the Trustees of the Evan Jekins Charity for their generous support of this project.

Colwinston Church: Significant damage has been caused to the fabric of the Tower by water ingress due to the failure of the roof covering and loss of the roof hatch. Temporary repairs have been affected and the result of detailed investigations by our Structural Surveyor and Architect have been received. Initial estimates for the works are £140,000 and a programme of fundraising and grant applications has begun.

St. Mary Church: A recent electrical inspection has revealed the church needs to be re-wired and the oil boiler has become irreparable. Several grant applications are in the process of being made to fund these essential works.

St. Mary Hill Church: A severe storm in December 2024 caused a large section of the churchyard wall to collapse. Our insurers have declined our claim, and the MAC are in dispute with them. The cost of repairs is in the region of £40,000. The MAC are required to enclose the churchyard and repair the wall which is listed.

The MAC and Standing Committee have decided that churches need additional help and support in completing works required in the Quinquennial Inspections. More funding may need to be made available from Ministry Area reserves rather than leaving the full costs to found by individual churches.

APPROVED by the Ministry Area Council on 5[th] May 2026 and signed on its behalf by Miss. A. Harries, Lay Chair.

8

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

THE RECTORIAL BENEFICE OF COWBRIDGE PAROCHIAL CHURCH COUNCIL

(Registered Charity Number 1131497)

MAC MEMBERS 1st JANUARY 2025 TO 31st MARCH 2026.

Incumbent Rev'd Duncan Charles Ballard Rev'd Duncan Charles Ballard
Lay Chair Miss Andrea Harries
Assistant Curate Rev'd Ross Pilliner (from 8th June '25)
Associate Priest Rev'd Jude Peters
Associate Priest Rev'd Dr Angela Cooper
Assistant Curate Rev'd Christopher Kitching
Ministry Area Warden Peter Davies
Ministry Area Warden Penny Newman
Pamela Haines Colwinston
David Crompton Flemingston
Leonie Hain Holy Cross (to 4th May '25)
Peter Mathais Holy Cross (from 4th May '25)
Jan Reed Llangan (to 4th May '25)
Ray Jacques Llangan (from 4th May '25)
Neil Hammond Llanblethian (to 4th May '25)
Diane Workman Llanblethian (from 4th May '25)
Julia Keates Llandough
John Homfray Llanfrynach
Margaret Langdon Llansannor
Jeremy Rawlings Llysworney
Pamela Harris Penllyn
Fiona Curties St Hilary (to 30th Jan '25)
Catherine Mangles St. Mary Church
Phillip Evans Ystradowen
Simon Lloyd St Mary Hill
Others Jen Denham Safeguarding Officer
Stephanie Bonnar Secretary
David Lloyd Jones Treasurer
CUSTODIAN TRUSTEES Freehold property is held in trust for the Parish either by the Representative
Body of the Church in Wales (RB) or the Llandaff Diocesan Board of Finance.
Investments are held in trust by the RB or in the names of the Rector and
Churchwardens.
INDEPENDENT EXAMINER Adey, Fitzgerald and Walker, Chartered Certified Accountants
The Pavilion, Eastgate, Cowbridge, Vale of Glamorgan
BANKERS HSBC Bank plc., 61 High Street, Cowbridge, CF7 7YJ;
COIF Charities Deposit Fund, 80 Cheapside London, EC2V 6DZ
NatWest Bank plc., Ely Valley Rd, Talbot Green, Pontyclun, CF72 8AL
Barclays Bank plc., 36 Dunraven Place, Bridgend, CF31 1HY
CAF Bank Ltd, 25 Kings Hill Avenue, West Malling, Kent. ME19 4JQ
ARCHITECTS Caroe & Partners, Architects, Penniless Porch, Wells, Somerset, BA5 2RB
R&M Studio Ltd, The Maltings, East Tyndall Street, Cardiff. CF24 6EA.
Gillard Assoociates Architects, The Quay Pad, Cardiff Marina, Cardiff. CF11 0SY
HONORARY SOLICITORS Hunter Jarvies Esq

9

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

INDEPENDENT EXAMINERS REPORT TO THE MEMBERS OF THE MINISTRY AREA COUNCIL

I report on the Financial Statements of the Rectorial Benefice of Cowbridge for the year ended 31st December 2025, which are set out on pages 11 to 17.

RESPECTIVE RESPONSIBILITIES OF MINISTRY AREA COUNCIL AND EXAMINER

As the Ministry Area Council, you are responsible for the preparation of the accounts. You consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income did not exceed £500,000 and I am qualified to undertake the examination by being a qualified Fellow of the Association of Chartered Certified Accountants.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in any material respect:

I 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 accounts to be reached.

S. Speed, A.C.C.A. DATE: 8[th] May 2026 Adey Fitzgerald & Walker Chartered Certified Accountants, The Pavilion, Eastgate Cowbridge, CF71 7AB

10

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

Tel: 01446 772299 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

N
INCOME FROM:
Donations, legacies, etc
Planned giving,
church collections
donations, grants,
legacies, tax refunds
Charitable activities
Fees for
weddings/funerals
Other trading activities
Fund-raising,
rental income
church hall income
Investments
Dividends and intere
Other income
EXPENDITURE ON:
Charitable activities
Promoting the mission o
Support for ministry
Church property
Parish running costs
Mission
Raising funds
NET INCOME/(EXPENDIT
Transfers between funds
Gains / losses on
investment assets
NET MOVEMENT IN FUN
RECONCILIATION OF FU
Balances brought forwar
Balances carried forwa		 o tes
.
2
st
3
f the
4
5
6
7
URE

19
12
DS
NDS
d
rd		 THIS YEAR 2025
UnrestrictedD esignatedR estricted
Endo wmen T his YearU
F unds
F unds
F unds
F unds
T o tal
£
£
£ £
£
165,697
1,219
108,318
0
275,235
17,783
0
9,138
0
26,921
40,557
15,142
9,590
65,289
26,846
5,316
6,779
38,941
0
0
4,439
4,439		 THIS YEAR 2025
UnrestrictedD esignatedR estricted
Endo wmen T his YearU
F unds
F unds
F unds
F unds
T o tal
£
£
£ £
£
165,697
1,219
108,318
0
275,235
17,783
0
9,138
0
26,921
40,557
15,142
9,590
65,289
26,846
5,316
6,779
38,941
0
0
4,439
4,439		 THIS YEAR 2025
UnrestrictedD esignatedR estricted
Endo wmen T his YearU
F unds
F unds
F unds
F unds
T o tal
£
£
£ £
£
165,697
1,219
108,318
0
275,235
17,783
0
9,138
0
26,921
40,557
15,142
9,590
65,289
26,846
5,316
6,779
38,941
0
0
4,439
4,439		 THIS YEAR 2025
UnrestrictedD esignatedR estricted
Endo wmen T his YearU
F unds
F unds
F unds
F unds
T o tal
£
£
£ £
£
165,697
1,219
108,318
0
275,235
17,783
0
9,138
0
26,921
40,557
15,142
9,590
65,289
26,846
5,316
6,779
38,941
0
0
4,439
4,439		 THIS YEAR 2025
UnrestrictedD esignatedR estricted
Endo wmen T his YearU
F unds
F unds
F unds
F unds
T o tal
£
£
£ £
£
165,697
1,219
108,318
0
275,235
17,783
0
9,138
0
26,921
40,557
15,142
9,590
65,289
26,846
5,316
6,779
38,941
0
0
4,439
4,439		 LAST YEAR 2024
nrestrictedD esignatedR estrictedEndo wment Last Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
150,332
0
177,274
0
327,606		 LAST YEAR 2024
nrestrictedD esignatedR estrictedEndo wment Last Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
150,332
0
177,274
0
327,606		 LAST YEAR 2024
nrestrictedD esignatedR estrictedEndo wment Last Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
150,332
0
177,274
0
327,606		 LAST YEAR 2024
nrestrictedD esignatedR estrictedEndo wment Last Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
150,332
0
177,274
0
327,606		 LAST YEAR 2024
nrestrictedD esignatedR estrictedEndo wment Last Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
150,332
0
177,274
0
327,606
10,379 0 8,449 0 18,828
27,610 5,241 10,208 43,059
24,063 6,253 10,857 41,173
0 0 61,165 61,165
250,884 21,677 138,264 0 410,824 212,384 11,494 267,953 491,831
church
116,102
55,250
76,310
0		 0
5,022
0
0		 1,465
208,712
9,455
7,914		 0
0
0
0		 117,567
268,984
85,766
7,914		 124,065 0 0 0 124,065
53,462 3,901 143,212 0 200,575
70,937 0 1,751 0 72,688
423 0 5,196 0 5,619
247,663
1,442		 5,022
0		 227,546
1,037		 0
0		 480,231
2,479		 248,887
 3,901
 150,159
 0
 402,947
763 0 0 0 763
249,105 5,022 228,583 0 482,710 249,650 3,901 150,159 403,710
~~)~~
1,779		 16,654
0		 (90,319)
0		 0 (71,886)
0		 (37,266) 7,593 117,794 88,121
103 0 (103) 0 0
1,779
5,538		 16,654
0		 (90,319)
0		 0
0		 (71,886)
5,538		 (37,163) 7,593 117,691 88,121
3,168 0 0 0 3,168
7,317

391,139		 16,654
156,721		 (90,319)
420,942		 0
3,000		 (66,348)
971,802		 (33,995) 7,593 117,691 91,289
425,134 149,128 303,251 3,000 880,513
398,456 173,375 330,623 3,000 905,454 391,139 156,721 420,942 3,000 971,802

The notes on pages 13 to 17 form part of this statement

11

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

BALANCE SHEET AT 31ST DECEMBER 2025

FIXED ASSETS
Tangible assets
Investments
CURRENT ASSETS
Stocks
Debtors
Short term investments
Cash & bank balances
LIABILITIES
Creditors falling due
within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
LIABILITIES
Creditors falling due
after one year
TOTAL NET ASSETS
FUNDS
Endowment
Restricted income
Designated unrestricted
Unrestricted funds		 THIS YEAR 2025
Unrestricted signated R estricted Endo wme This Year
Notes
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
11
141,586
0
0
0
141,586
12
93,648
118,411
0
3,000
215,059
235,234
118,411
0
3,000
356,645
13
4,582
0
0
0
4,582
14
81,706
0
11,104
0
92,810
15
84,207
36,456
199,188
319,851
12,968
17,816
110,410
141,194
183,463
54,272
320,702
0
558,436
16
7,396
-269
0
0.00
7,127
176,066
54,541
320,702
0
551,309

411,300
172,953
320,702
3,000
907,954
17
2,500
0
0
0
2,500
408,800
172,953
320,702
3,000
905,454
18
3,000
3,000
19
330,623
330,623
20
173,376
173,376
398,456
398,456
398,456
173,376
330,623
3,000
905,454		 THIS YEAR 2025
Unrestricted signated R estricted Endo wme This Year
Notes
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
11
141,586
0
0
0
141,586
12
93,648
118,411
0
3,000
215,059
235,234
118,411
0
3,000
356,645
13
4,582
0
0
0
4,582
14
81,706
0
11,104
0
92,810
15
84,207
36,456
199,188
319,851
12,968
17,816
110,410
141,194
183,463
54,272
320,702
0
558,436
16
7,396
-269
0
0.00
7,127
176,066
54,541
320,702
0
551,309

411,300
172,953
320,702
3,000
907,954
17
2,500
0
0
0
2,500
408,800
172,953
320,702
3,000
905,454
18
3,000
3,000
19
330,623
330,623
20
173,376
173,376
398,456
398,456
398,456
173,376
330,623
3,000
905,454		 THIS YEAR 2025
Unrestricted signated R estricted Endo wme This Year
Notes
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
11
141,586
0
0
0
141,586
12
93,648
118,411
0
3,000
215,059
235,234
118,411
0
3,000
356,645
13
4,582
0
0
0
4,582
14
81,706
0
11,104
0
92,810
15
84,207
36,456
199,188
319,851
12,968
17,816
110,410
141,194
183,463
54,272
320,702
0
558,436
16
7,396
-269
0
0.00
7,127
176,066
54,541
320,702
0
551,309

411,300
172,953
320,702
3,000
907,954
17
2,500
0
0
0
2,500
408,800
172,953
320,702
3,000
905,454
18
3,000
3,000
19
330,623
330,623
20
173,376
173,376
398,456
398,456
398,456
173,376
330,623
3,000
905,454		 THIS YEAR 2025
Unrestricted signated R estricted Endo wme This Year
Notes
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
11
141,586
0
0
0
141,586
12
93,648
118,411
0
3,000
215,059
235,234
118,411
0
3,000
356,645
13
4,582
0
0
0
4,582
14
81,706
0
11,104
0
92,810
15
84,207
36,456
199,188
319,851
12,968
17,816
110,410
141,194
183,463
54,272
320,702
0
558,436
16
7,396
-269
0
0.00
7,127
176,066
54,541
320,702
0
551,309

411,300
172,953
320,702
3,000
907,954
17
2,500
0
0
0
2,500
408,800
172,953
320,702
3,000
905,454
18
3,000
3,000
19
330,623
330,623
20
173,376
173,376
398,456
398,456
398,456
173,376
330,623
3,000
905,454		 THIS YEAR 2025
Unrestricted signated R estricted Endo wme This Year
Notes
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
11
141,586
0
0
0
141,586
12
93,648
118,411
0
3,000
215,059
235,234
118,411
0
3,000
356,645
13
4,582
0
0
0
4,582
14
81,706
0
11,104
0
92,810
15
84,207
36,456
199,188
319,851
12,968
17,816
110,410
141,194
183,463
54,272
320,702
0
558,436
16
7,396
-269
0
0.00
7,127
176,066
54,541
320,702
0
551,309

411,300
172,953
320,702
3,000
907,954
17
2,500
0
0
0
2,500
408,800
172,953
320,702
3,000
905,454
18
3,000
3,000
19
330,623
330,623
20
173,376
173,376
398,456
398,456
398,456
173,376
330,623
3,000
905,454		 THIS YEAR 2025
Unrestricted signated R estricted Endo wme This Year
Notes
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
11
141,586
0
0
0
141,586
12
93,648
118,411
0
3,000
215,059
235,234
118,411
0
3,000
356,645
13
4,582
0
0
0
4,582
14
81,706
0
11,104
0
92,810
15
84,207
36,456
199,188
319,851
12,968
17,816
110,410
141,194
183,463
54,272
320,702
0
558,436
16
7,396
-269
0
0.00
7,127
176,066
54,541
320,702
0
551,309

411,300
172,953
320,702
3,000
907,954
17
2,500
0
0
0
2,500
408,800
172,953
320,702
3,000
905,454
18
3,000
3,000
19
330,623
330,623
20
173,376
173,376
398,456
398,456
398,456
173,376
330,623
3,000
905,454		 LAST YEAR 2024
Unrestrictsignated
estricted Endo wmeLast Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
141,586
0
0
0
141,586		 LAST YEAR 2024
Unrestrictsignated
estricted Endo wmeLast Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
141,586
0
0
0
141,586		 LAST YEAR 2024
Unrestrictsignated
estricted Endo wmeLast Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
141,586
0
0
0
141,586		 LAST YEAR 2024
Unrestrictsignated
estricted Endo wmeLast Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
141,586
0
0
0
141,586		 LAST YEAR 2024
Unrestrictsignated
estricted Endo wmeLast Year
F unds
F unds
F unds
F unds
T o tal
£
£
£
£
£
141,586
0
0
0
141,586
87,160 113,648 0 3,000 203,808
235,234 118,411 0 3,000 356,645 228,746 113,648 0 3,000 345,394
4,582
81,706
84,207
12,968		 0
0
36,456
17,816		 0
11,104
199,188
110,410		 0
0		 4,582
92,810
319,851
141,194		 3,815 0 0 0 3,815
53,847 0 19,417 0 73,264
0 41,216 255,822 297,038
114,654 1,857 145,703 262,214
183,463 54,272 320,702 0 558,436 172,316 43,073 420,942 0 636,331
7,396 -269 0 0.00 7,127 7,423 0 0 0 7,423
176,066
411,300		 54,541
172,953		 320,702
320,702		 0
3,000		 551,309
907,954		 164,893 43,073 420,942 0 628,908
393,639 156,721 420,942 3,000 974,302
2,500
408,800		 0
172,953		 0
320,702		 0
3,000		 2,500
905,454		 2,500 0 0 0 2,500
391,139 156,721 420,942 3,000 971,802
398,456 173,376 330,623 3,000 3,000
330,623
173,376
398,456		 3,000 3,000
420,942 420,942
156,721 156,721
391,139 391,139
398,456 173,376 330,623 3,000 905,454 391,139 156,721 420,942 3,000 971,802

The notes on pages 13 to 17 form part of this Balance Sheet

APPROVED by the Ministry Area Council on 5th May 2026 and signed on its behalf by Miss. A. Harries, Lay Chair.

12

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025

1. Accounting policies

The accounting policies adopted in the preparation of the financial statements, are as follow s

a. Basis of preparation

The Rectorial Benefice of Cow bridge Parochial Church Council is a charity registered w ith the Charity Commision for England and Wales (Reg. No. 1131497) and is a Public Benefit Entity w ithin the meaning of the accounting standard FRS102. The Financial Statements have been prepared in accordance w ith the Charities Act 2011, the Church In Wales Accounting Regulations, the applicable accounting standard (FRS102) and the Charities SORP based thereon, except as may be detailed in the follow ing notes.

b. Preparation of Financial Statements on a going concern basis

The Ministry Area Council (MAC) has no reason to believe that the Ministry Area (MA) w ill not remain a going concern for the foreseeable future and the Financial Statements have been prepared on this basis.

c. Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the MA. Designated funds are unrestricted funds of the MA w hich the MAC has decided at their discretion to set aside for a specific purpose. Restricted funds are donations given by the donor, or invited by the MAC, for a specific purpose, and may only be expended on those purposes; unspent balances must be carried forw ard and only spent on those specific purposes.

d. Income is accounted for gross.

Income is generally recognised w hen the MAC is entitled to the funds, there is sufficient certainty of receipt and the amount can be measured reliably. Planned giving, collections and donations are recognised w hen received. Tax refunds are recognised as soon as the amounts are claimable. Dividends are accounted for w hen receivable; interest is accrued. Where the MAC has not invested separately for each fund, interest is apportioned to individual funds on an average balance basis.

e. Expenditure is accounted for gross.

Expenditure is recognised once there is a legal or constructive obligation to make payment, it is probable that a payment w ill be made and the amount can be measured reliably. Parish Share is paid regularly and is included in expenditure for the year to w hich it relates. Unrestricted fund grants (including donations to missions) are recognised w hen determined by the MAC. Amounts received specifically for missions are dealt w ith as restricted funds and the liability for payment is recognised w hen the amounts are received.

g. Property and investments held by the Representative Body of the Church in Wales

The Represntative Body of the Church in Wales (RB) hold freehold property and investments on behalf of the MAC in trust, w hich provides that upon disposal, the proceeds may be applied by the MAC for charitable church purposes. Since the MA is economically responsible for the properties and is solely concerned w ith the risks and rew ards that relate both to the properties and the investments, it is the MAC view that the accounting principle of substance over form should be applied and that the properties and investments should be included in the Balance Sheet.

h. Freehold Property

All freehold property w ith the exception of Llansannor Hall is held by the Representative Body of the Church in Wales (RB) on trust as described above. The freehold of Llansannor Hall is held by the Llandaff Diocesan Board of Finance. The bases for the valuation of freehold property is show n in note 11. Routine additions and replacements to Church Hall contents are charged to current expenditure. Except for the dimunition in value of the land at Ystradow en (see note 11), no provision is made for depreciation of freehold property on the basis that w ith the possible exception of Leoline Close, the amounts included in the balance sheet probably represent no more than the value of the land, so no depreciation charge is appropriate. For Leoline Close, the excess of cost over the probabable value of the land, is such that any resultant depreciation charge spread over the economic life of the property is immaterial.

13

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 (continued)

nations, legacies. etc.
Planned giving
Loose collections
Donations and other voluntary income
Goods for re-sale at cost
Grants
Government (NI & LDBF grants)
Lottery & Local Authority
Legacies
Tax refunds Gift Aid
GASDS
her income
Insurance claims
Monies introduced from
Colwinston, Llandow and Llysworney
pport for ministry
Ministry support
Parish share of diocesan costs
Parochial expenses of clerics
Other ministry costs
urch property
Maintenance of churches
Maintenance of other property
Leoline Close Curate House
rish running costs
Parish administrator
General parish expenses
Maintenance of services, music, etc.
ssions
Home / World
Parish		 T his year
Unrestricted Designated
Restricted
Total
£
£
£
£		 T his year
Unrestricted Designated
Restricted
Total
£
£
£
£		 T his year
Unrestricted Designated
Restricted
Total
£
£
£
£		 T his year
Unrestricted Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted Designated
Restricted
Total
£
£
£
£
83,072
37,161
9,184
5,585
20,650
10,046		 1,219 2,635
19,450
85,856
377		 83,072
39,796
29,853
91,442
0
0
20,650
10,423		 81,463
27,251
9,020
4,599
20,264
7,735		 6,358
35,720
96,080
34,507
3,256
1,353		 81,463
33,609
44,740
100,679
0
34,507
23,520
9,088
165,697 1,219 108,318 275,235 150,332 0 177,274 327,606
4,439 4,439
0		 61,165
0		 61,165
0
0 0 4,439 4,439 0 0 0 0
110,000
6,102		 1,465 110,000
7,567
0		 114,272
9,793		 114,272
9,793
0
116,102 0 1,465 117,567 124,065 0 0 124,065
47,695
7,556		 674
4,348		 183,856
24,856		 232,225
36,760
0		 49,267
4,195		 3,901 127,753
15,459		 177,020
23,555
0
55,250 5,022 208,712 268,984 53,462 3,901 143,212 200,575
57,395
17,640
1,276		 1,109
8,347		 57,395
18,749
9,622		 53,140
14,713
3,084		 50
1,701		 53,140
14,763
4,785
76,310 0 9,455 85,766 70,937 0 1,751 72,688
7,914 0
7,914		 0
423		 5,196 0
5,619
0 0 7,914 7,914 423 0 5,196 5,619

2. Donations, legacies. etc.

3. Other income

4. Support for ministry

5. Church property

6. Parish running costs

7. Missions

0
0
7,914
7,914
423
0		 5,196 5,619
ependent Examination Fees
Fees for reporting on the Financial Statements
£
ployees
Gross wages and salaries
£
Employer's national insurance costs
£
Pension contributions (not a defined benefit scheme)
£
Total staff costs
£
Average number of staff employed: Full time
Part time
Number of employee receiving emoluments (excluding employer pension costs) of more than £60,000
£
ayments to trustees (MAC members) - Related party transactions
Parish clergy are ex officio MAC members; an insignificant amount of expenses
paid to them as clergy may relate to their duties as MAC members.
Expenses paid to MAC members (other than clergy)
£
Other transactions with MAC members
The Parish Administrator is the MAC Treasurer and therefore a MAC member.His total benefits w ere
£		 This year
57,395
5,585
7,647		 Last year
53,140
4,599
6,364
70,627 64,103
1
2
Nil
Nil
Nil
57,395		 1
2
Nil
Nil
Nil
53,140

8. Independent Examination Fees

9. Employees

10. Payments to trustees (MAC members) - Related party transactions

14

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 (continued)

angible fixed assets
Unrestricted
Restricted
Total
Freehold
Equipment Equipment
property
£
£
£
£
Cost or valuation:
Balance 1st January
145,121
16,040
2,013
163,174
Additions at cost
Disposal at Cost
Balance 31st December
145,121
16,040
2,013
163,174
Accumulated depreciation:
Balance 1st January
3,535
16,040
2,013
21,588
Depreciation for Year
0
Depreciation on Disposal
0
Balance 31st December
3,535
16,040
2,013
21,588
Net book value 1st January
141,586
0
0
141,586
Net book value 31st December
141,586
0
0
141,586
FREEHOLD PROPERTY used in connection with the direct purposes of the Parish, comprises:
£
(see note 1(viii) and 1(ix) )
Llanblethian Church Hall (inc. Contents)
PCC valuation 31 Dec.1996
40,000
Freehold interest in Llansannor Church Hall
PCC valuation 31 Dec.1996
15,000
Curate's House, Leoline Close
Net cost
86,586
Land at Ystradowen
Net cost
3,535
145,121		 Unrestricted
Freehold
Equipment
property
£
£		 Unrestricted
Freehold
Equipment
property
£
£		 Restricted
Equipment
£		 Total
£
145,121 16,040 2,013 163,174
145,121 16,040 2,013 163,174
3,535 16,040 2,013 21,588
0
0
3,535 16,040 2,013 21,588
141,586 0 0 141,586
141,586 0 0 141,586
145,121

11. Tangible fixed assets

No reliable cost information exists for Llanblethian Hall or the freehold interest in Llansannor Hall. In accordance with accounting standard FRS102, they are included at "deemed historical cost" being the values existing at the time the accounting standard FRS102 was first applied to the Rectorial Benefice of Cowbridge Ministry Area Council financial statements.

The Llansannor Church Hall site is leased for 20 years to the Llansannor Community Hall Association, who have built a hall on the site. The Church retains exclusive use of the hall on Sundays and for one evening per week. The MAC cannot dispose of the freehold without Diocesan consent, and the reservation of time for use by the church, together with its use as a community hall with similar purposes to those of a church hall, suggest that its use in connection with church purposes has not changed.

The land at Ystradowen was consecrated as an extension to the Churchyard during 2011; as such it has no value for the MAC and full provision for diminution in value has been made.

12. Investment fixed assets
Unrestricted
Listed
Investment Cash for
Endowment
investments
properties investmentTOTAL
£
£
£
Fair market Value at 1st January
80,916
6,244 113,648 200,808
Interest
4,763
4,763
Transfers/Additions
950
950
Net gains/(losses) on revaluation
5538
5,538
Fair market value at 31st December
86,454
7,194 118,411 212,059		 12. Investment fixed assets
Unrestricted
Listed
Investment Cash for
Endowment
investments
properties investmentTOTAL
£
£
£
Fair market Value at 1st January
80,916
6,244 113,648 200,808
Interest
4,763
4,763
Transfers/Additions
950
950
Net gains/(losses) on revaluation
5538
5,538
Fair market value at 31st December
86,454
7,194 118,411 212,059		 12. Investment fixed assets
Unrestricted
Listed
Investment Cash for
Endowment
investments
properties investmentTOTAL
£
£
£
Fair market Value at 1st January
80,916
6,244 113,648 200,808
Interest
4,763
4,763
Transfers/Additions
950
950
Net gains/(losses) on revaluation
5538
5,538
Fair market value at 31st December
86,454
7,194 118,411 212,059		 12. Investment fixed assets
Unrestricted
Listed
Investment Cash for
Endowment
investments
properties investmentTOTAL
£
£
£
Fair market Value at 1st January
80,916
6,244 113,648 200,808
Interest
4,763
4,763
Transfers/Additions
950
950
Net gains/(losses) on revaluation
5538
5,538
Fair market value at 31st December
86,454
7,194 118,411 212,059		 12. Investment fixed assets
Unrestricted
Listed
Investment Cash for
Endowment
investments
properties investmentTOTAL
£
£
£
Fair market Value at 1st January
80,916
6,244 113,648 200,808
Interest
4,763
4,763
Transfers/Additions
950
950
Net gains/(losses) on revaluation
5538
5,538
Fair market value at 31st December
86,454
7,194 118,411 212,059		 12. Investment fixed assets
Unrestricted
Listed
Investment Cash for
Endowment
investments
properties investmentTOTAL
£
£
£
Fair market Value at 1st January
80,916
6,244 113,648 200,808
Interest
4,763
4,763
Transfers/Additions
950
950
Net gains/(losses) on revaluation
5538
5,538
Fair market value at 31st December
86,454
7,194 118,411 212,059		 Nat Savings
Bond
£
80,916
5538		 6,244
950		 113,648
4,763		 200,808
4,763
950
5,538		 3,000
86,454 **7,194 ** **118,411 ** 212,059 3,000

Investment properties include land at the junction of Broadway and Castle Hill, Llanblethian, valued at cost of fencing and establishing title, etc. Its current fair value is difficult to determine; the MAC believes the cost of obtaining a valuation outweighs any benefit. The property is held by the RB - see note 1g).

The Representative Body of the Church in Wales holds for the Parish a small plot of land at Ystradowen known as Ystradowen Hall (see note 1g. No cost information is available and in its present state it probably has little value; it is therefore recognised as an investment property but with no value.

Listed investments, included above at 31st December 2025, include

10,840 M & G Charibond Distribution Units (held in the name of the incumbent and church wardens).

29,661 Church in Wales Common Investment Fund shares (held by the RB - see note 1g) ). £3,000 National Savings Bond.

The cash for investment represents the proceeds from the sale of Llanfair Hall, plus accumulated interest, (held by the RB - see note 1g) which awaits a MAC decision of when and how it should be invested.

15

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 (continued)

13. Stocks comprise office stationery, wine and altar breads, candles and heating oil stocks.

This year
Last year
Unrestricted Designated
Restricted
Total
Unrestricted
Designated
Restricted
Total
£
£
£
£
£
£
£
£
14.Debtors
Fees and other trading debtors
4,101
0
5,204
9,306
5,632
0
13,894
19,526
Prepayments
0
0
0
0
96
0
0
96
Other debtors
77,604
0
5,900
83,504
48,119
0
5,523
53,642
81,706
0
11,104
92,810
53,847
0
19,417
73,264
15. Current Asset Investments
On call deposit accounts
84,207
36,456
199,188
319,851
0
41,216
255,822
297,038
16. Creditors falling due in one year
Accruals
3,238
0
0
3,238
1,259
0
0
1,259
Parish share rebate due
0
0
0
0
-1,504
0
0
-1,504
Other creditors
4,159
-269
0
3,889
7,668
0
0
7,668
7,396
-269
0
7,127
7,423
0
0
7,423
17. Creditors falling due after one year
Church in Wales loan re Leoline Close,
interest free, repayable on disposal.
2,500
0
0
2,500
2,500
0
0
2,500
18. Endowment Funds
The documents determining the purpose of a £3,000 bequest by Mrs Thompson cannot be traced; it is believed
that the income is for general purposes; £24 income has been credited to unrestricted funds_(last year £1)_.
19. Restricted income funds
Balance B/F
Income
Expenditure
Transfers
Balance C/F
Name
Purpose
£
£
£
£
£
Missions
Support of external missions
90
15,359
10,294
5,155
DM Jones Memorial Fund
Historic Fabric of Holy Cross
5,348
97
5,445
Holy Cross
Church restoration
110,336
12,499
930
121,905
Holy Cross Piano
Maintenance of grand piano
1,402
25
1,427
Llanblethian Church
Repairs and maintenance
17,813
300
1,219
16,894
Llanblethian Churchyard
Churchyard maintenance
13,470
3,701
3,457
13,714
Llanblethian sound system
Provision/maintenance
507
9
516
Llandough Church & Churchyard
Repairs and maintenance
4,188
1,105
4,548
745
St Mary Church
Repairs and maintenance
9,073
164
9,237
St Mary Church Churchyard
Churchyard maintenance
1,257
23
1,280
St. Hilary Church
Repairs and maintenance
-7,983
3,696
-4,287
St. Hilary Churchyard
Churchyard maintenance
6,307
547
450
6,404
St Hilary water supply
Provision of water supply
18,133
14,437
-3,696
0
St Hilary Altar requisites
Altar furnishings etc
458
8
466
Flemingston Church
Repairs and maintenance
4,669
84
50
4,703
Flemingston Churchyard
Churchyard maintenance
7,903
639
8,542
Llansannor Church
Repairs and maintenance
1,667
30
1,697
Llansannor Churchyard
Churchyard maintenance
4
4
Penllyn Church
Repairs and maintenance
101,850
12,091
28,368
85,573
Llanfrynach Church
Repairs and maintenance
6,147
111
6,258
Llanfrynach Churchyard
Churchyard maintenance
3,411
62
3,473
Llangan 100 Club
Maintenance St Canna
6,742
710
122
7,330
Llangan Friends
Maintenance St Canna
9,464
9,464
Llangan Building
Maintenance St Canna
15,200
131
7,940
7,391
Llangan Old School Room
Llangan community project
4,767
625
5,392
Llangan Churchyard
Churchyard maintenance
8,768
849
8,701
916
St Mary Hill Building
Repairs and maintenance
26,545
480
27,025
St Mary Hill 100 Club
Maintenance St Mary Hill
0
St Mary Hill Churchyard
Churchyard maintenance
6,669
3,584
285
9,968
Ystradowen Church
Repairs and maintenance
3,526
76,205
138,860
-59,129
Ystradowen Churchyard
Churchyard maintenance
1,124
2,052
2,032
1,144
HX Lighting
External Lighting
0
Colwinston Church
Repairs and maintenance
12,505
3,223
15,728
Colwinston Churchyard
Churchyard maintenance
1,067
1,433
1,530
970
Llandow Church
Repairs and maintenance
2,594
206
3,111
-311
Llandow Churchyard
Churchyard maintenance
2,605
713
3,318
Llyswworney Church
Repairs and maintenance
5,711
605
950
5,366
Llyswworney Churchyard
Churchyard maintenance
4,419
536
1,300
3,655
Other small funds - 12 balances at 31 December
3,186
58
3,244
420,942
138,264
228,583
0
330,623		 This year
Unrestricted Designated
Restricted
Total
£
£
£
£		 This year
Unrestricted Designated
Restricted
Total
£
£
£
£		 This year
Unrestricted Designated
Restricted
Total
£
£
£
£		 This year
Unrestricted Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£
4,101
0
77,604		 0
0
0		 5,204
0
5,900		 9,306
0
83,504		 5,632
96
48,119		 0
0
0		 13,894
0
5,523		 19,526
96
53,642
81,706 0 11,104 92,810 53,847 0 19,417 73,264
84,207 36,456 199,188 319,851 0 41,216 255,822 297,038
3,238
0
4,159		 0
0
-269		 0
0
0		 3,238
0
3,889		 1,259
-1,504
7,668		 0
0
0		 0
0
0		 1,259
-1,504
7,668
7,396 -269 0 7,127 7,423 0 0 7,423

2,500		 0 0 2,500
2,500 0 0 2,500
Balance B/F
Income
Expenditure
Transfers
Balance C/F
Purpose £
£
£
£
£
Support of external missions 90 15,359 10,294 5,155
Historic Fabric of Holy Cross 5,348 97 5,445
Church restoration 110,336 12,499 930 121,905
Maintenance of grand piano 1,402
17,813
13,470
507
4,188
9,073
1,257
-7,983
6,307
18,133
458
4,669
7,903
1,667
4
101,850
6,147
3,411
6,742
9,464
15,200
4,767		 25 1,427
Repairs and maintenance 300 1,219 16,894
Churchyard maintenance 3,701 3,457 13,714
Provision/maintenance 9 516
Repairs and maintenance 1,105 4,548 745
Repairs and maintenance 164 9,237
Churchyard maintenance 23 1,280
Repairs and maintenance 3,696 -4,287
Churchyard maintenance 547 450 6,404
Provision of water supply 14,437 -3,696 0
Altar furnishings etc 8 466
Repairs and maintenance
Churchyard maintenance
Repairs and maintenance
Churchyard maintenance
Repairs and maintenance
Repairs and maintenance
Churchyard maintenance
Maintenance St Canna
Maintenance St Canna
Maintenance St Canna
Llangan community project
Churchyard maintenance
Repairs and maintenance
Maintenance St Mary Hill
Churchyard maintenance
Repairs and maintenance
Churchyard maintenance
External Lighting
Repairs and maintenance
Churchyard maintenance
Repairs and maintenance
Churchyard maintenance
Repairs and maintenance
Churchyard maintenance
ecember		 84 50 4,703
639 8,542
30 1,697
4
12,091 28,368 85,573
111 6,258
62 3,473
710 122 7,330
9,464
131 7,940 7,391
625 5,392
8,768 849 8,701 916
26,545 480 27,025
0
6,669 3,584 285 9,968
3,526 76,205 138,860 -59,129
1,124 2,052 2,032 1,144
0
12,505
1,067
2,594
2,605
5,711
4,419		 3,223
1,433
206
713
605
536		 1,530
3,111
950
1,300		 15,728
970
-311
3,318
5,366
3,655
3,186 58 3,244
420,942 138,264 228,583 0 330,623

The Llangan and St Mary Hill 100 Clubs are for the general maintenance and upkeep of St Canna and St Mary respectively; the transfers from these restricted funds to unrestricted funds is to cover the excess of expenditure over income for these churches for the year.

16

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 (continued)

20. Designated funds
Name
Purpose
Llanblethian hall
Running and maintenance
Llanblethian Church
Repair, maintenance and improvemen
Parish mission
Parish mission and outreach
Llanfair Hall proceeds Support major repairs in all churches		 Balance B/F Income
Expenditure Transfers
Balance C/F		 Balance B/F Income
Expenditure Transfers
Balance C/F		 Balance B/F Income
Expenditure Transfers
Balance C/F		 Balance B/F Income
Expenditure Transfers
Balance C/F		 Balance B/F Income
Expenditure Transfers
Balance C/F
£
£
£
£
£
13,082
t
9,566		 15,142
1,402		 4,348
674		 23,876
10,294
20,425
113,648		 369
4,764		 20,794
118,412
156,721 21,677 5,022 0 173,376

Llanblethian Church Hall is operated on behalf of the MAC by the Llanblethian Church Hall Committee with whom they have a management agreement. There has been an increase in Hall ususge throughout 2022 as bookings resume following the Covid Pandemic.

Filming fees from previous years at Llanblethian church produced unexpected income; the MAC has determined to set these fees aside to finance improvements to the church not covered by the Evan Jenkins Charity.

The Parish mission fund represents funds originally intended for a Church Army Evangelist, which since have been releas by the donor to the MAC for general mission purposes. At its meeting of 8th Dec 2020 the MAC agreed that in the event of a deficit of unrestricted funds this fund may be used towards the cost of the assistant parish treasurer.

The proceeds from the disposal of Llanfair hall have been set aside as a designated fund to meet extraordinary costs of repair and improvement of the church buildings in the Parish, all of which are listed buildings and some of which require urgent repair following quinquennial inspection.

21. TRUST FUNDS

The Rectorial Benefice of Cowbridge has become the successor sole beneficiary of trusts in respect of which the Representative Body of the Church in Wales are the trustees. Income, which is received regularly and automatically from a number of these trusts was immaterial. For others, application has to be made for payments out of accumulated income to match expenditure incurred on those items covered by the purposes of the trusts.

The funds at the end of the year in respect of which the Benefice is the beneficiary are:

Name: Object: Chancel Repair Fund Repair of Llanblethian chancel ,, ,, ,, Repair of St Mary Hill chancel Miss S.M. Carden dec'd Maintenance of graves, Llanblethian churchyard Mrs. C.A. Williams dec'd .. .. .. .. Miss V.A. Morgan dec'd .. .. .. Church Cottage, Aberthin Reparation and general upkeep, Llanblethian H.L. Phillips dec'd Repair & maintenance Holy Cross, Cowbridge J.W. Hall dec'd Charitable church purposes, Holy Cross, provided certain graves are maintained Lt. Col. C.T. Edmondes dec'd .. .. .. .. Margaret Sole dec'd .. .. .. .. David Mansel Jones Fund External maintenance/repair, Holy Cross Church Anonymous Gift Charitable church purposes, Llanblethian Mrs A G Jenkins dec'd Charitable church purposes, Llangan provided certain graves are maintained Mrs M C Jones .. .. .. .. Ms O R V Battrick Payment of Parish Share

St.John the Baptist, Llanblethian and St.Owain, Ystradowen are beneficiaries of the Evan Jenkins Charity whose primary objective for distribution of income is maintenance and repair of the tenor bell in the tower of Llanblethian church. Secondary objectives include the distribution of income for the repair of Llanblethian and Ystradowen churches.

17

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 (continued)

21. TRUST FUNDS

automatically from a number of these trusts was immaterial. For others, application has to be made for payments out of accumulated income to match expenditure incurred on those items covered by the purposes of the trusts. Eg. In 2016 the PCC received £4,674 of such income to cover gutter and associated repairs to Holy Cross church

The funds at the end of the year in respect of which the Benefice is the beneficiary are:

Name: Object: Chancel Repair Fund Repair of Llanblethian chancel ,, ,, ,, Repair of St Mary Hill chancel Miss S.M. Carden dec'd Maintenance of graves, Llanblethian churchyard Mrs. C.A. Williams dec'd .. .. .. .. Miss V.A. Morgan dec'd .. .. .. Church Cottage, Aberthin Reparation and general upkeep, Llanblethian H.L. Phillips dec'd Repair & maintenance Holy Cross, Cowbridge J.W. Hall dec'd Charitable church purposes, Holy Cross, provided certain graves are maintained Lt. Col. C.T. Edmondes dec'd .. .. .. .. Margaret Sole dec'd .. .. .. .. David Mansel Jones Fund External maintenance/repair, Holy Cross Church Anonymous Gift Charitable church purposes, Llanblethian Mrs A G Jenkins dec'd Charitable church purposes, Llangan provided certain graves are maintained Mrs M C Jones .. .. .. .. Ms O R V Battrick Payment of Parish Share R C N Carne Charitable church purposes Llysworney

St.John the Baptist, Llanblethian and St.Owain, Ystradowen are beneficiaries of the Evan Jenkins Charity whose primary objective for distribution of income is maintenance and repair of the tenor bell in the tower of Llanblethian church. Secondary objectives include the distribution of income for the repair of Llanblethian and Ystradowen churches.

18

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2025

YEARS ENDED 31 DECEMBER YEARS ENDED 31 DECEMBER YEARS ENDED 31 DECEMBER YEARS ENDED 31 DECEMBER YEARS ENDED 31 DECEMBER YEARS ENDED 31 DECEMBER YEARS ENDED 31 DECEMBER
2021
2022
2023
2024
2025		 BUDGET
2026
INCOME
Stewardship
Collections
Donations, grants, etc.
Tax refunds
Funds generated
Investment income
Fees
Monies From LLY, LLW & COL
TOTAL		 84,789 86,683 79,969 81,463 83,072 82,493
18,510 26,655 33,317 27,251 37,161 27,560
9,014 15,089 18,880 13,619 14,769 10,686
25,525 30,555 28,726 27,999 30,696 27,513
34,340 30,886 32,902 27,610 40,557 52,446
934 3,123 11,110 24,063 26,846 5,805
6,388 9,687 7,364 10,379 17,783 7,830
0 43,544 0 0 0 0
179,500 246,222 212,268 212,384 250,884 214,333

EXPENDITURE

Parish share
Clerics and ministry expenses
Church property costs
Administrator & Accountancy
General parish expenses
Mission
Cost of generating funds
TOTAL		 62,887 95,746 100,629 114,272 110,000 110,000
7,668 8,355 6,305 9,793 6,102 13,245
27,250 40,269 48,424 53,462 55,250 47,326
38,636 42,394 60,073 60,310 66,380 68,040
10,625 12,802 15,103 10,627 9,931 17,171
308 0 240 423 0 500
462 685 2,417 763 1,442
147,836 200,251 233,191 249,650 249,105 256,282
SURPLUS /(DEFICIT)
SURPLUS / (DEFICIT)
Surplus on disposal of property
Investment gains/(losses)
Designated / restricted fund transfers
Net addition / reduction of reserves		 31,664 45,971 (20,923) (37,266) 1,779 (41,949)
0
7,144 (5,739) 3,850 3,168 5,538 0
38,808
300		 40,232
2,400		 (17,073)
0		 (34,098)
103		 7,317
0		 (41,949)
0
39,108 42,632 (17,073) (33,995) 7,317 (41,949)

19