CHARITY REGISTRAnoN NUMBER.. 1133596 Rectorfal Benefice of Cwmbran Parochial Church Council Unaudited Financial Statements 31 December 2023 JONATHAN RHODES BSC BFP FCA Chartered accountants Walter Hunter & Co Limited Chartered Accountants 24 Bridge Street Newport South Wales NP20 4SF
Rectorial Benefice of Cwmbran Parochial Church Council Financial Statements Year ended 31 De¢ember 2023 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 100 The following pages do not form part of the flnancial statements Detailed statement of financial activities 23 Noles to the detailed statement of financial activities 28
Rectorial Benefice of Cwmbran Parochial Church Council Trustees. Annual Report Year ended 31 December 2023 The Ifustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023. Reference and administrative detalls Rggistered charity name Rectorial Benefice of Cwmbian Parochial Church Council Charity registration numbor 1133596 Prlncipal The Rectory Clomendy Road Cwmbran Torfaen NP44 3LS Tho trusta•s Ronnie Burnett Valerie Hazel Evans Rev Sue Hobbs Keiron Jason Jones Rev Elisabeth Kerl Helen Neat Rev Karin Pardoe Rev Nicholas C Perry Stephen Shand Therese Smith Beryl Rhiannon Wakling Milica Fertan William A Wright Ngil Preece Jonathan A Kerl Brenda Jones Joe Cheslerman Myfanwy Bowen Angela O'Brien John Ferran Doreen Lynch Kathryn Ome Jane Povey Rev Wendy Tayler Anlhea Wellington Ken Jacob LLM (Resigned 27 April 20231 (Resigned 23 May 20241 (Resigned 23 May 20241 (Appointed 27 April 20231 {Appoinled 27 April 20231 (Appointed 27 April 2023} (Appointed 27 April 2023) (Appointed 27 Aplll 20231 Indepondont 8xaminor Mr Jonathan Rhodes Bsc BFP FCA Wallgr Hunter & Co Limilgd Chartered Accountants 24 Bridge Street Newport South Wales NP20 4SF
Rectorial Benefice of Cwmbran Parochial Church Council Trustees. Annual Report Iconbnuodj Year ended 31 December 2023 Strueture and governan¢o The Rectorial Benefice of Cwmbran is a grouping ol seven churches in the Deanery of Pontypool, part of the Diocese of Monmouth in the Anglican province of the Chureh in Wales. It comprises of All Saints Llanfrechla, Holy Trsnity Ponlnewydd, Sl Gabriel Cwmbran. Sl Mary Croesyceiliog, Sl Michael and All Angels Llanlarnam. St Peter Henllys and the Worship Centre Henltys. The Reclorial Benefi¢e of Cwmbran is known wf¢hin the Church of Wales as The Cwmbran inislry Area. The Representative Body of the Church in Wales holds the land and propety of the Church in Wales, they are an exempt Charity set up under Section 13121 of the Welsh Churches Act 1914. They act on behalf of the province in paying the stipends of the fu114ime clergy and administering the Church in Wales, scheme of gift aid. The Ministry Area Council act as Paf¢xhial Church Council and Charity Trustees for the entire Ministry Area. It is not a body corporate, and its composition, PredUre and powers are regulated by the Constslution of the Church in Wales. The clergy team consists of the Ministry Area Leader {Rev'd Nick Peryl,. stipendiary Team Vicars (Retrd Elizabeth Kerl and Revd Wendy TayleTI", Iwo non-sb"pendiary priests (Rev'd Sue Hobbs and Retyd Karin Pardoel,. throe Licensed Lay Minister (Susan Atwell LLM Ken Jacob and Terr Smith LLM. The Ministy Area is also supported by several retired priests who have Pemiission to Officiate in the Dilxese of Monmouth and live within the Ministry Area, The Ministry Area Treasurer is Mr John Ferran. The Acting Ministry Afea Secfetary is Rev'd Elizabeth Kerl. The Benefi¢e Wardens are Mr Slephon Shand {Rectorfs Warden) and Mr Keiron Jone5 IPeople's Warden) On January 29th 2023, the RtOrIal Benefice of Cwmbran was foimally commissioned as a Ministry Area by the Rt Rev'd Cherry Vann, eishop of Monmouth. Summary 2023 gaw encouraging signs of growth in most of the congregations. The 'Cosl of Living Crisis, and the 'Fuel Crisis, has placed a significant impact on the finances of the charity. One of the most significant out-goings of the Ministry Area is the payment of thg Parish Share lo the Province of the ChurGh in Wales and is a rnajor burden lo local congregations. The Representative BcKly of the Church in Wales endeavoured lo support local parishes w((h a support for utilities during 2023. However, it Is without doubt the hard work of the officers, and 9enerosty of the eongTegations within the Ministry Area, which has enabled us to meet all our financial obligations. The Diocese changed Ihg way the Share would be calculated. This means the Diocese establishes a budget by the Diocese which then has lo be allocated by the Ministry Area Council (MACI. 11 has been tlecided by the current MAC to look in to alternativ8 methods of calculating ea¢h Congregation's Share allocation. Governancg during this period Changed slightly, in that the Diocese encouraged the MAC to appoint a Covchair lo work alongside the Ministry Area Leader as Co-chair of the MAC. The Reclorial Bonefice of Cwmbran Ministry Area is a registered Charty whose purposes are exclusively lor the public benefit.
Rectorial Benefice of Cwmbran Parochial Church Council Trustees. Annual Report (Cltinued) Year ended 31 December 2023 ObjeGtiVg8. activites and achlevements During the 2023 period, most of the Congregations experience atrophy through death among the membership. During the 2023 peri. many of our Congregations also eXperIend an increase in new attendances. Funerals continue al a high level throughout 2023. Weddings cancelled during the Pandemic were happity rescheduled for 2022 - 2025. There are already dates for wedding beyond 2025. Wedding Blessing that were arranged fo¥ 2022 have also been rescheduled for 2023 - 2025 and there appears lo be an increase in requests for wedding blessin9s. Baptisms Continue lo be constant. Funerals normally held in the Church had decreased dramalKalty, but continue to show healthy Signs of recovery. Most Chuiches have engaged in some fomi of Fundraising in 2023, and this is something the ChLtrches will need to continually improve. 2023 has seen a general recovery in hall use. Those Churches with a Hall have engaged in s¢yne fom of renovation during this period. The Ministry Area acts'vely supports Henllys Church in Wales Primary School with Rev'dElvzabelh Kerl. Ponlhir Church in Vvales Primary School is actively supported by Rev'd Wendy Tayler. Non-failh schools continue lo be supported by the clergy and others, ecumenie81 alliances and Open the Book. All clergy have additional responsibilities other than th&ir Churches. The Ministry ATea has continued lo support tharitable causes among which are Ravenhouse. Croesyceiliog and Llanlarnam foodbanks, Mission lo Seafarers, Leprosy Mission, the Archbishop's fund for Children and others. Throughout the benefice, Churches are trying lo explore new ways in which a connection btheen Church and Community can be forged and enhanced. Consequently, Churches have established.. Coffee and Craft Tea and Toast Warm Hubs Chocolate Church Funky Fridays Social events MKlweok See5, prayer meetings, bible studies, occasional offices, gui$ and Church societies ontinue. Healthy relationships are continued to be fostered with the Communty Councils. Most nOtIablY. Sl Mary's Church Croesyceiliog and Llanyravon CommLsnity Council have begun to work far more ck)sely than in previous years. The main coneem of the Trustees during this penod is to improve MMunication in all aspects of church lrfe, whi¢h 18 an Ongng issue which we continue lo monttor.
Rectorial Benefice of Cwmbran Parochial Church Council Trustees, Annual Report (contlnuedj Year ended 31 December 2023 Maln obj9Ctives The Main objectnies of the Ministry Area continue lo be.. The provision of seNices of worship, bibles, studies, prayer meetings. The provision of Occasional setvitss ineluding weddings, Bapli$ms and fijnerals. Pastoral cafe to those within the Ministry Area who have need. The promotion ol the Christian Gospel as interpreted by the Anglican Church. Active pa'CipatIon in the community and the continued development of civic links. The maintenance and development of activities in the Church Schools and, where possible. in non-faith schools. Participation in Charitable events and other causes consistent wfth the teachings of the Anglican Church. Funding ar irnplemenling maintenance and repairs lo Church Buildings and Churchyards. Financial review A NSI Bond of £15,000 is held by the Benefice. Total income including tax recovered from HMRC in respect of the unrestricted lunds was £187.131 {2022: £137,444} and restricted funds was £36,324 12022.. £20,5331, a total of £223,455 12022.. £157,9771. In addition lo Ihk8 income were the transfer of assets of the inclusion of All Saint5 church into the benefi¢e. This raised the income by an additional £67.803 unrestricted and £28,641 restricted income. £282,585 12022-. £165,720) was spent to prowde the Christian ministry in the Benefice including the contribution lo the diocesan parish share {thal largely provides the stipends and housing for the clergyl- This includes excepkn'onal building costs for All Saints, Llantsrnam of £21,909. There was a profft of £57,1171202210ss'. £47,222) of income over expenditure including a net gain on inveslmenls. Res6Nes poll¢y The PCC policy is to relain sufficient funds centrally including the bond of £15,000 as a buffer a9ainsl unforeseen circumstances or should a church make a late payment in their Share. Thus. in the latter event, enabling the Share lo be paid on time so as to relain the relevant discount.
Rectorial Benefice of Cwmbran Parochial Church Council Trustees, Annual Report Year ended 31 December 2023 sk. revlew and challenges The Ministry Are8 Council con*'nues lo be responsible for ensuring that reviews of all major risks are conducted and that wherever possible systems have been established to mitigate these risks. The risks facing the Charity include the slalg of repair of the churches, churchyards, church halls snd the financial requirements to meet ils staled activities. Each local church is encouraged lo conduGt a review of ils own risks and this is per1¢ICallY an agenda item for the Ministry Area Council. Thg Ministry Area has adopted the Church in Wales Safeguarding Policy. And Safeguarding officer8 are appolnled lo each Congregation. The main challenge to the Ministry Area and to all the Churches. is the finanees. 11 has been encouraging to see Churches improve their halls lo maximise income, rewew expenditure, encourage gThiing. The 'Pandemic', the 'Cosl of Living Crisi$', the 'Fuel Crisis, has stripped many of the Churches of much of Ihair r95¢rve income, which presents a significant issue. There have been no serious incidents or Safeguarding issues or othef matters relating to this charity over the previous financial yeaf. There have been several referrals lo the Diocesan Deliverance Ministry. which worts closely with the Provincial Safeguardin9 Departmonl. Fabric Three of the seven churches in the ministry 8rea are listed buildings Holy Trinity ChUh Ponlne%dd, Sl Mtchael and All Angels. Llanlamam and Sl Peter, Henllys are Grade 11 Listed. Each kxal church conggation is encouraged to carry out regular inspections and maintenance as required. QLfinqLiennial inspections are cafried out by qualified arcthilects appointed by the Diocese.
Rectorial Benefice of Cwmbran Parochial Church Council Trustees, Annual Report (conllnu¢dJ Year ended 31 December 2023 Ststement of responsibilities of the trnstees The charity's trustees are responsible for preparing the Tiuslees Annual Report and Iho financial stslements in accordance with applicable law and United Kingdom Accounting Standards (United ngdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the Insstees to prepare financial slatgmenls for each financial year that give a true and fair view of the slate of affairs of the charity and of the incoming resources and applrcatiofi of resources of the charity for that period. In preparing these financial statement5, the Iruslees are required to: select suitsble accounling policies and then apply them consistently- observe the methods and principles in the Charities SORP.. makejudgemenls and estimates that are reasonable and Prudent.. slate wheth¢r applicable xcounling standards have been followed, subject to any malefial departures disclosed and explained in the finala1 slalements-, prepare the financial statements on the going concern basis unless il is inappropriate to presume that the charity will continue in operation. The Iruslees are responsible for keeping proper accounting records that disclose wrth reasonable accuracy at any lime the financial position of the charity and enable them lo ensure Ihal the financial slalemenls comply with their duty in section 17151 of the Charities Act 2011 and have due regard for to guidance published by the Charity Commission. The trustees are also responsible for.'- safeguarding the assets of the ¢harily and hence taking reasonable steps for the prevention and deledion of fraud and other irregularities, and where appropriate maintaining the integrity of the financial information included on the charty's website in line wrth United Kingdom legislalK)n. The Iruslees, annual report was approved on 30 October 2024 and signed on behalf of the board ot trustee$ by= OJ J29L- Rev Nichoks C Perry Trustee John FeThan TTUStee
Rectorial Benefice of Cwmbran Parochial Church Council Statsment of Financial Activities Year ended 31 December 2023 rep)rt to the trustees on my examination of the financial statements of Rectorial Benefice of Cwmbran Parochial Churth Council {'the charity'l for the year ended 31 December 2023. Responslbllitles and basis of rgport As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011{'the A¢VI. I report in respect of my examination of the Trustee's accounts carried out under section 145 of the 2011 Act and in Carrying out my examination I have followed all the applicable Directions given by the Charty Commission under Section 14515)Ibl of the 2011 ACL Independent Bxamlnerfs statement Since the charity's gross income eXded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l Confirm that l am qualified to undertake the examination because l am a member of the Instilule of Chartered Accountants in England and Wales {ICAEW), which is one of the listed bodies. I have completed my examination. l 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. accounting re¢ords were not kept in respect of the Charity as required by section 130 of the . or the accounts do not accord with those records, or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Chaiities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view which is not a matter considered a5 part of an independent examination. I have no concems and have come across no other matters in connection with the examination lo which attention should be drawn in this reFJOrt in order io enable a proper understanding of the accounts to be leached. Mr Jonathan Rhodes Bsc BFP FCA Independent Examiner Waller Hunter & Co Limited Chartered Accountsnts 24 Bridge Street Newport South Wales NP20 4SF The notes on pagm 10 to 21 form part of these financlal 8tat•m•nts.
Rectorial Benefice of Cwmbran Parochial Church Council ststement of Financial Activities Year ended 31 December 2023 2023 Restricted funds Total funds Totsl funds 2022 unreStrted funds Income and endowments Donations and legacies Charitable activities Oiher fundraising activities Investrnenl income Other income 132,076 35,167 16,635 3,253 87,803 254,934 22,167 2,607 2,304 9.246 28,641 154,243 37,774 18,939 12.499 96.444 100,723 38,511 11,424 7,319 Total income 64,965 319.899 157,977 Expendlture Expenditure on charitable activities Total expendlture 248,832 33,753 282.685 165,720 248,832 33,753 282.585 165.720 Net gainslllossesl on investments 19,803 19,803 139,479} Net incomellexpenditurn) and net movament In funds 6.102 51,015 57.117 {47.2221 Raconciliatlon of funds Total funds brought lorward Total lunds canled forward 110,830 437,084 488,099 547,914 595,136 116,932 605,031 547.914 The stslernent of financial adivilies includes all gains and losses recognised in the year. All income and 8xpendityre derive frorn continuing adivities. The noto5 on pages 10 to 21 fonn part of th8 financial staternents.
Rectorial Benefice of Cwmbran Parochial Church Council Statement of Financlal Posltlon 31 December 2023 2023 2022 Note Flxed assets Fixed Asset Investments 13 407.227 365,498 Currgnt as$9ts Current Investments Cash al bank and in hand 14 15,000 217,057 232,057 15,000 191,436 2Cfi.436 Cr9dltOT5: amounts falling duè within one year Net current assets 15 34.253 24,020 197.804 182,416 Totsl assets18ss current Ilabllitl8s 605,031 547,914 Net assets 605,031 547.914 Fvnds of the charlty Rgsliicted funds Unrestrided funds 488,099 116.932 605,031 437,084 110,830 Total charity funds 16 547,914 These financial statements were approved by the board of Iruslees and aulhorised lor issue on 30 October 2024, and are signed on bohalf of tho board by.. Rev Nicholas C Perry Truste John Ferran Trustee Th• notes on pag96 10 to 2110 part ol these flnan¢lal statsrnents.
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Flnanclal Statements Year ended 31 December 2023 Accounting Policies General inlorniation The charity is a publK benefit entity and a registerod charity in England and Wales and is unincorporated. The address of the principal office is Rectorial Benefice of Cwmbran PCC, The Rectory, Clomendy Road. Cwmbran. Torfaen, NP44 3LS. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {Charrtie8 SORP IFRS 10211 and the Charities Act 2011. Accounting policiey Basls of preparatlon The financial slalemenls have been prepared on the historical cost basis, a5 modified by the revaluation of fixed asset investments. The financial slalemenls are prepared in stefling. which is the functional currency of the entty. The figures in the financial slalements are rounded to the nearest whole pound. Wlndlng up or dlssolutlon of the charlty There are no material uncertainties about the charity's 8bilrty to continue as a going concern. If upon winding up or dissolution of the charity there remains any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects lo the charity. Since March 2020 the Covid-19 pandemic has seriously affected the UK 9enerally. We have taken all necessary steps lo combat the effects of the virus and lo ensure that the charty is able lo continue lo operate. Di$clo$ure exemptions The entity satisfies the criteria of being a qualtying entity as defined In FRS 102. As such, advantage has been taken of the following disclosure exempl8 available under paragraph 1.12 ofFRS102 la) No cash fl¢ stslemenl has been presented for the charity. Judgements and key sources of estlmation uncertainty The prepar*ion of the financial statements requires management to make judgements, estimales and assumptions that affect the amounts reported. These eslimales and judgements are conlinualty reviewed and are based on experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Income tsx As 8 regisl¢r9d charty. the charity is exempl from income tax lo the extent that ils incorn6 and gains are applicable lo ¢harilable purposes only. Value added lax 15 not recoverable by the charity and is therefore included in the relevant costs in the Statement of Financial Aclivilies. 10
Rectorial Beneflce of Cwmbran Parochial Church Council Notes to the Financial Statements {conthiuedJ Year ended 31 December 2023 Accounting Policies Fund accounting Unreslricled funds aro available for use al the discretion of the Itustees to further any of the charity's purposes. Oesignaled fvnds are unreslricled funds earmarked by the trustees for particular future project or commitment. Reslricled funds are subjected to restrictions on their expenditure as declared by the donor OT through the terms of an appeal. Incomlng resources All income is included in the stalernenl of financial activities when entillemenl has passed to the haiity, it is probable that the econcxmic benefits associated with the transaction will flow lo the ha¥ity and the amount can be reliably measured. The following specific policies are appld to particular c*egories of income". income from donations or grants is recognised when there is evidence of entilFemenl to the gTrl, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entillemonl is established. income from donated goods is measured al the fair value of the goods unless this is impractical to measure rt reliably. in which ease the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and semces are recognised in the acwunls when receNed ifthe value can be reliabty measured. No amounts are included for the contribution of genefal volunteers. income from contracts for the supply of setvices is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a conlraclual requirement for (( lo be spent on a particular purpose and ielurned rf unspent, in which case f( may be regaided as ieslricled. Recognition of Llabllltles Liabilities are recognisod on the acctuals basis in accordance with normal accounting principles. 11
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Ststements {conthu8dJ Year ended 31 December 2023 ReSoUeS expendgd Expenditure is reeognised on an 0rualS basis as a liability is incurred. Expendi(ure includes any VAT which cannot be ful recovered, and is elassified under headings of the statement of financial activities lo which il relates.. expenditure on rai%ing funds in¢lutJe$ the costs of all fundraising activrties. events, non- harrtable trading actpiities. and the sale of donated goods. expenditure on charitsble activities includes all costs incurred by a charity in undertaking livities that further its charitable aims for the benefit of rts beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to eharilable activities. other expenditure includes all expenditure that is neither related to raising funds for the harity nor part of its expenditure on Charitable activities. All costs ale allocated to expenditure categories ting the use of the resource. Direct costs attributable to a single acliwty are allocated directty lo that activity. Shared costs ore apportioned betsveen the activrties they contribute lo on a reasonable. justifiable and consistent basis. Donatlons and legacies Unrestricted Funds Reslricled Total Funds Funds 2023 Planned giving Loose collections Grft Aid Missionlworld Church Contributions Donations Legacies Grants 54.324 32,117 21,905 341 11,755 2,530 9,104 120 32,117 21,905 341 13,186 2,530 29,720 154,243 1,431 20,616 132,076 22,167 Unreslrided Funds Restricted Totsl Funds Funds 2022 Planned gniing Loose Collections Gbft Aid MissionOrld Church Contributions Donations Legacies Grants 28,079 31,765 22,260 469 10,176 28,079 31,765 22,260 469 12,250 3,000 2,900 2,074 3,000 2,750 50 92,899 7,824 100.723 12
Rectorial Benefice of Cwmbran Parochial Church Councll Notes to the Financial Statements (¢onth¢rttt) Year ended 31 De¢ember 2023 Charltablo actlvltles Unrestricted Funds Restricted Total Funds Funds 2023 Sl Gabriels Serv fees Sl Michaels service fee5 St Marys seNice fees st Peters serVe fees Hoty Trinity service fees All Saints setvice fees Sl Gabriels hall rental Sl Mi¢haels hall hire Sl Marys hall Hire 1,945 3,808 1,604 2.314 4,083 4,058 4,292 7,383 5,680 1.94S 3.808 1.604 2,314 6.514 4.234 4,292 7.383 5,680 37,774 2.431 176 35,167 2,607 Unrestricted Fund8 Restricted Total Funds Funds 2022 Sl Gabriels service fees Sl Michaels service fees Sl Marys service fees St Peters SerVe fees Holy Trinity service fees All Saints service fees Sl Gabriels hall rental Sl Michaels hall hire Sl Marys hall Hire 4,663 5,237 2,290 1,523 6,484 4,663 5,237 2,290 1,523 9,937 3,453 3,226 6,314 5,321 3,226 6,314 5,321 35,058 3,453 38,511 13
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Flnan¢ial Statements (conllnuedj Year ended 31 December 2023 Other fundraislng actlvltles Unreslricled Funds Reslricled Total Funds Funds 2023 St Gabriels fundraising income St Michaels fundraising income Sl Marys fundraising in¢ome Sl Peters fundraising income Worship Centre fundraising income Holy Trinity fundraising income All Saints fundwsing income 4,505 2,636 1,223 109 110 1.069 6,983 4.505 2,636 1.423 109 200 2,104 3,173 6,983 16,635 2,304 18,939 Unrestricted Funds R8slricted Total Funds Funds 2022 Sl Gabriels fundraising income St Michaels fundiaising income st Marys fundraising income Sl Peters fundraiSig incon7e Worship Centre fundraising income Holy Trinity fvndraising income I Saints fundraising income 4,119 3,041 752 4,119 3,041 827 75 140 3.297 1,222 2,075 9,274 2.150 11,424 Other Income Unrestricted Funds Restricted Total Funds Funds 2023 All Saints transfer of assets 67,803 28,641 96,444 Unreslricled Funds Restricted Total Funds Funds 2022 All Saints transfer of assets 14
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements l¢onllnu Year ended 31 December 2023 Expendituro on charitable actlvltles by fund type Unrestricted Fund8 Restricted Total Funds Funds 2023 Grant & Other Financial Support Church Property Parish A¢livilies Other Resources Expended Support costs 582 92,374 14,602 3,431 137.843 14,952 18,738 63 15,534 111,112 14,665 3,431 137,843 248,832 33,753 282.585 Unreslricled Funds Restricted Total Funds Funds 2022 Grant & Other Financial Support Church Property Parish Activities Other Resouices Expended Support cosls 1.878 38,903 14,145 259 103,043 1,878 46,395 14,145 259 103,043 7,492 158,228 7,492 165,720 Expenditur9 on charitable activities by actlvty typ Activities undertaken diredly Support Total funds costs 2023 Total fund 2022 Grant & Other Financial Support Support for Ministry Church Prc)perty Parish Activities Other Resources Expended Governance costs 15,534 IS,534 133,272 111,112 14.665 3,431 4,571 282,585 1,878 101,093 46,395 14.145 259 1,950 133,272 111,112 14,665 3,431 4.571 144,742 137.843 165.720 15
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Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conllnu Year ended 31 December 2023 11. Independent examlnation foes 2023 2022 Fees payable to the independe7)t examiner for. Independant examination of the financial statements 4.571 1,950 12. Trustee remuneration and expenses No remuneration or other benefits from employment with the Charity or a related entity were received by any Iruslee No trustee expenses have been incurred 13. Fixed asset investments Church in Wales Common Investment Fund Reserye Church in Wales Common Investment Fund Shares Total Cost or valuation Al 1 Jan 2023 Additions Disposals Fair value movements 336,723 28.483 28,775 8,462 115,019) 365.498 36.945 115,0191 19,803 407,227 19,803 At 31 Dec 2023 385,009 22,218 arrylng amotsnt At 31 Dec 2023 385.009 22,218 407,227 365.498 At 31 De¢ 2022 336,723 28.775 All investments shown above are held at valuation. 17
Rectorial Benefice of Cwmbran Parochial Church CounGiI Notes to the Financial Statements {¢MIlftv Year ended 31 December 2023 13. Flxgd asset Invgstments (conllnu The Representative Body of the Church in Wales Common Investment Funds are held as a Chancel Repair Funds (for St. Peterfs church, Henllys and All S8inVs church, Llantarnaml and as a Fabric Fund {for any Church or Churchyard in the Parish of Ponlnewyddl. The mxldle market value of these shares as al 3161 December 2023 was £2.2125 (2022.. £2.09561. All Sainf s also hold 8 legacy investment and a Trust fund inveslmenL Holding Sl Peter's Chancel Repair Fund 2023 Central Fabric FurKI I Sainvs Chancel Repair Fund 2023 AJI Sainfs Legacy Holding 2023 2023 No. of capit81 shales 236 £ 522 108,518 £ 240,096 7,642 16,908 2,893 £ 6,401 . of accumulalion shares 2,601 £ 5.755 49,325 £ 109,132 I&E fund cash 145 29 2022 236 £ 495 2022 108.518 £ 227.411 2022 2022 No. of cartal shares . of accumuL8tion shares 2,601 £ 5.451 49.325 £ 103,366 I&E fund cash 152 28,623 In addition Al Saints ha unit trusi I$tments of 176.33 units with a dIue of £2.147.98. 18
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Ststements (¢onrfnu*o) Year ended 31 December 2023 14. Current Investments 2023 2022 National Savings Bond 15,000 15,000 1S. Creditors- amounts falling due within one year 2023 2022 Creditors Accruals and deferred income 29.682 4.571 22,070 1,950 34.253 24,020 16. Anaty$S$ of charitable funds Unrestrfcted funds At 1 Jan 2023 Gains and At losses 31 D9¢ 2023 Income Expgnditure Transfers General 8enefi¢e fund St Gabriels Sl Michaels St Marys St PeleTS Worship Centre Holy Trinity I Saints 10,821 6,859 68,716 9.425 3,754 3,983 7.272 273 35,819 41,996 28,229 6.331 7.884 26,069 108,333 12,8361 139,2361 161,4161 127.1841 18,2461 {7,261) {29,724) 172,929) 254,934 {248,8321 8.258 3,442 49,296 10N70 1.839 4,606 3,617 35.404 110,830 116,932 At 1 Jan 2022 Gains and At losses 31 D8c2022 Income Expenditure Transfers General Benefice fund Sl Gabriels Sl Michaels Sl Marys Sl Peters Worship Centre Holy Trinity All Saints 10,740 17,904 69,509 13,595 4,928 4.806 2,949 117 30,534 40,203 23,442 5,794 8,222 29.132 1361 141,579) 140,9961 127,612) 114,776} 19.0451 124,1841 10,821 6,859 68,716 9,425 3.754 3.983 7,272 7,808 {625) 124,431 137,444 11 $8,228) 7.183 110,830 The unrestrieted ndS include designated funds. 19
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements iconlinuv Year ended 31 December 2023 16. Analysis of charitable funds (contlnuedj Restrlcted funds Al 1 Jan 2023 Gains and At losses 31 Dec 2023 Income Expendiluro Transfers General Fund St Gabriels St Michaels St Marys Sl Peters Holy Trinity All Saints 374,398 10,484 24,753 9.646 6.098 11,705 8,269 124 6.317 10.958 373 9,609 29,315 114,848} 18,452 386,271 10.608 24,753 15,616 6,561 13.719 30.571 16,3171 14,988} 90 17,5951 151 133,7531 1,261 437,084 64,965 19,803 488,099 Al 1 Jan 2022 Gains and At losses 31 Dec 2022 Income Expendiluf& Transfers General Fund Sl Gabriels Sl Michael$ Sl Marys Sl Peters Hoty Trinity All Saints 406,595 10,195 22.541 6.715 14,485 10,174 6.585 289 3,399 4,446 118 5,696 138,782) 374,398 10,484 24,753 9,646 6,098 11.705 11,1871 (1,5151 {7,8081 625 16971 {4,7901 470,705 20,533 (7,4921 17,1831 139,4791 437,084 Restricted funds include Church funds held specrfic purposes including amounts in Common Investment Funds. 17. Analysis of net assets between funds Unreslricled Funds Restricted Total Funds Funds 2023 Investments Current assets 407.227 80.872 407,227 197,804 116.932 Net a980ts 116,932 488,099 605,031 Unrestricted Funds Restricted Total Funds Funds 2022 Investments Current assets 365,498 71,586 365,498 182,416 11,830 Net assets 110.830 437,084 547,914
Rectorlal Benefice of Cwmbran Parochial Church Council Notes to the Financlal Statements (COlIn•) Year ended 31 December 2023 18. Related partles There are no related paty transactions in the reporting period that require disclosure the financial statement8. 21
Rectorial Benefice of Cwmbran Parochial Church Council Management Infomiation Year ended 31 December 2023 The followlng pages do not forni part of the financlal statement$. 22
Rectorial Benefice of Cwmbran Parochial Church Council Detailed Statement of Financial Activities (conllmiedl Year ended 31 December 2023 2023 2022 2023 2022 Income and endowments Donatlons and lega¢les St Gabriels planned giving St Michaels planned 9iViThJ Sl Marys planned giving st Peters planned gNing Worship Centre planned giving Holy Trinty planned gwing All Saints planned giving Sl Gabriels loose colleclion Sl Mi¢haels IiJ)se collection Sl Marys loose collection Sl Peters loose collection Worship Centre loose collection Htsly Trinity loose co15eclion All Saints loose collections Sl Gabriels gift aid Sl Michaels gift aid Sl Marys gift aid St Peters gift aid Worship Centre gift aid Holy Trinity gift aid All Saints gift aid Sl Gabriels World church contribution Sl Michaels World church contribution Sl Marys World church contribulion Holy Trintty World church contribution Sl Gabriels donations St Michaels donations st Marys donations St Peters donations Worship Centre donations Holy Trin*iy donations All Saints donations Sl Gabriels legacies st Michaels legacies All Saints legacies Sl Gabriels grant Sl Michaels grant Sl Mary$ grant Holy Tiinify grant All Saints grants 9,519 14,214 7.806 692 2.706 120 19,387 2,617 5,380 2,578 2,162 3,415 14,048 1,917 4,228 4.281 2.330 601 1,877 14,473 8,274 828 2,487 140 10,197 4,397 2,018 1,710 13,443 4.129 5,043 3,153 547 1,695 7,693 3.402 5,520 55 229 22 200 7,071 1,030 2,295 400 110 1.399 881 1,000 1,000 530 587 6,317 15,438 6.675 703 240 2,374 1,624 3,004 1,180 3,900 168 3,000 2.750 150 154,243 100,723 Charttable activities st Gabriels se1 fees Sl Michaels service fees 1,945 3,808 4,663 5,237 23
Rectorial Benefice of Cwmbran Parochial Church Council Detslled Statement of Financial Activities (¢o*thnued) Year ended 31 December 2023 2023 2022 St Marys SerVe fees St Peters setvice fees Holy Trinty service fees All Saints service fees Sl Gabriels hall rentsl Sl Michaels hall hire Sl Marys hall Hire 1,804 2.314 8,514 4,234 4,292 7,383 6,680 2,290 1,523 9,937 3,226 6,314 5,321 37,774 38,511 Otherfundralslng actlvlties Sl Gabriels fvndraising income Sl Michaels fundraising income Sl Marys fundraising income Sl Peters fvndraising income Worship Centre fundraising income Holy Trinity fundraising income All Saints fundraising income 4,505 2.636 1.423 109 4,119 3,041 827 140 3.297 3,173 6,983 18,939 11,424 Investment income Othef b8nk interest Sl Gabriels interest Sl Michaels inleiest st Marys interest Sl Peters interest All Saints interest Benefice investment income st Peters investment income All Saints investment income 118 124 2,200 473 10 502 8,269 373 513 6.585 118 12,499 7,319 Other Income All Saints transfer of assets 96N44 Total Income 319.899 157,977 24
Rectorial Benefice of Cwmbran Parochial Church Council Detailed Statement of Financial Activlties (condnuedj Year ended 31 December 2023 2023 2022 Expendlture Expendlture on charltable actlvltles Repairs and maintenance Other establishment maintenan of serVeS General parish expenses {including governance) Parish share Mission ccsls Parhla1 expenses of cleric Other resources expenditure Exceptional &xpendilure 68,562 35,489 13.725 5.511 122.767 686 10,505 3,431 21,909 25,785 20,610 9.240 6.855 94,612 1.878 6,481 259 282.685 165,720 Total expenditure 282,585 165,720 Net gainslllosses) on investmgnts Benefice Fund gainsnosses on investments Sl Peters gainsllosses on investsnenl All Saiints gainsnosses on investments {18,4S21 90 {1,261) 119,803) 138,7821 1697} 139.4791 Net incomelloXPgndlturg1 57.117 {47,2221 25
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Detailed Statement of Flnanclal Actlvitles Year ended 31 December 2023 2023 2022 Expendituro on chariiable activities Grant & Oth8r Flnancial Support Actlvities undertaken dlrectly Mission Costs 686 1,878 Support for Mlnlstry Support costs Parish share Parochial Expenses of Clerics 122,767 10.505 94,612 6.481 133,272 101,093 Church Property Actlvldes undertaken dirg¢tty Maintenance of Churches Maintenance of Other Property Exceptional Property expenses 68,562 35,489 21,909 25,785 20.610 46,395 Parlsh Actlvltles Activities undertaken directy Maintenance of Servi$ General Parish expenses 9,154 5,511 9,240 4,905 14,665 14,145 Other Rgsources Expended Activities undertaken dlrectly Cost of Fundraising Govemance costs Governance costs - accountancy 3.431 259 4.571 1,950 Exp&ndlturg on charitable activiti8$ 282,585 165,720 26