CHARITY REGISTRATION NUMBER: 1133596 Rectorial Benefice of Cwmbran Parochial Church Council Unaudited Financial Statements 31 December 2024 WALTER HUNTER & CO LIMITED 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 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial positi'on Notes to the financial statements 10 The following pages do not form part of the financial statements Detailed statement of financial activities 23 Notes to the detailed statement of financial activities 26
Rectorial Benefice of Cwmbran Parochial Church Council Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. Reference and administrative details Registered charity name Rectorial Benefice of Cwmbran Parochial Church Council Charity registration number 1133596 Principal office The Rectory Clomendy Road Cwmbran Torfaen NP44 3LS The trustees Ronnie Bumett Valerie Hazel Evans Rev Sue Hobbs Keiron Jason Jones Rev Elisabeth Kerl Helen Neat Rev Karin Pardoe Rev Nicholas C Pery Stephen Shand Therese Smith Beryl Rhiannon Walding Milica Ferran William A Wright Jonathan A Ke Brenda Jones Joe Chesterman Myfanwy Bowen Angela O'Brien John Ferran Doreen Lynch Kathryn Orme Jane Povey Rev Wendy Tayler Anthea Wellington Lisa Blakeman {Resigned June 2025) (Resigned December 20251 (Resigned December 2025) (Resigned June 2025) (Resigned December 2025) (Resigned 23 May 2024) (Resigned 23 May 2024) {Resigned December 20251 (Resigned December 20251 (Appointed 23 May 2024 Resigned December 2025) {Appointed 23 May 2024) (Resigned December 2025) Helen Hunt Ken Jacob LLM Independent examiner Mr Jonathan Rhodes Bsc BFP FCA Walter Hunter & Co Limited Chartered Accountants 24 Bridge Street Newport South Wales NP20 4SF
Rectorial Benefice of Cwmbran Parochial Church Council Trustees. Annual Report (continuerfl Year ended 31 December 2024 Structure and governance The Rectorial Benefice of Cwmbran is a registered charity established exclusively for public benefit. It comprises seven churches forming the Cwmbran Ministry Area and is part of the Diocese of Monmouth within the Anglican Province of the Church in Wales. The churches include.. All Saints, Llanfrechfa Holy Trinity, Pontnewydd St Gabriel, Cwmbran St Mary, Croesyceiliog St Michael and All Angels. Llantamam St Peter, Henllys The Worship Centre, Henllys The Representative Body of the Church in Wales holds the land and propety ofthe Church in Wales. It is an exempt charity established under Section 13(2) of the Welsh Church Act 1914. Acting on behalf of the Province, it administers clergy stipends and manages the Church in Wales Gift Aid scheme. The Ministry Area Council serves as the charity trustees for the entire Ministy Area. In accordance with the Church in Wales Constitution, it undertakes all fijnctions typically associated with the Parochial Church Council (PCC) and Deanery Synod. The Council is not a corporate body- its composition, procedures, and powers are governed by the Constitution of the Church in Wales. The Ministry Team consists of the Ministry Area Leader, stipendiary Team Vicars, non- stipendiary priests. and three Licensed Lay Ministers. The Ministry Area contributes to the training, housing, and stipends of this team through the Ministry Share. In line with the Constitution, the Rector serves as the ex-officio Chair of the Ministy Area Council, supported by an elected Lay CcFChair. Current officers include= Treasurer= Mr John Ferran Acting Secretary.. The Reverend Elizabeth Kerl Wardens.. Mr Stephen Shand and Mr Kieran Johns
Rectorial Benefice of Cwmbran Parochial Church Council Trustees. Annual Report (continuerfl Year ended 31 December 2024 Summary The Ministry Share remains the most significant financial commitment ofthe charity. Its primary purpose is to meet obligations related to stipendiary dergy. including housing costs. maintenance, and stipends. It also funds training for clergy and Licensed Lay Ministers and ensures compliance with statutory training requirements. The Ministry Area is responsible for allocating this share across its churches., however, a finalized methodology for distribution has yet to be estsblished. The financial position continues to be affected by rising living costs, increased Lrtility bills, and higher clergy expenses. In summer 2024. we welcomed Marwn Nixon as a stipendiary curate following her ordination as Deacon at Newport Cathedral. This training post does not impact the Ministry Share but has resulted in additional clergy expenses. Objectives. activities and achievements The charitable purpose of the Rectorial Benefice is to promote the full mission of the Churclmastoral, evangelistic, social, and ecumenicawwithin the parish. Key objectives include.. Providing regular worship services. Bible studies, and prayer meetings Conducting occasional SeiceS such as weddings. bapts'sms. and funerals Offering pastoral care to those in need within the Ministry Area Promoting the Christian gospel as interpreted by the Anglican tradition Engaging actively with the community and strengthening civic links Supporting church schools and. where possible. non-faith schools Participating in charitable events aligned with Anglican teaching Maintsining and repairing church buildings and churchyards, many of which are listed and historically significant Across our seven churches, we have maintained a consistent rhythm of worship on Sundays and weekdays. Special services were held for major festivals, including Harvest, Christmas, Easter, and Remembrance Sunday. wth each church playing a significant role in civic commemorations. Pastoral care remains central to our mission. with funerals continuing at a high level. This care extends to maintaining four churchyards and memorial gardens. In 2024, we conducted tree inspections and undertook necessary works. Church halls have seen increased usage by both church groups and extemal hires, with local ommunities ensuring facilities remain well-maintained. Fundraising efforts have been active, though alternative funding strategies-such as stewardshiwnust be explored to secure long-temi sustainability.
Rectorial Benefice of Cwmbran Parochial Church Council Trustees. Annual Report (continuerfl Year ended 31 December 2024 Objectives, activities and achievements (continu) The Ministry Area supports two Church in Wales primary schools: Henllys School (supported by Rev. Elizabeth Kudl and Ponthir School (supported by Rev. Wendy Tayler). Clergy also provide outreach to non-church schools through assemblies and the °Open the Book" initiative. In 2024, ordinand Matthew Idand joined the Ministry Team as part of his training. He established a lunchtime Christian group at Croesyceiliog School, attracting 6180 students weekly and providing a safe space for exploring faith. The Ministry Area continues to seek ways to engage spiritually curious individuals in worshippin9 life. The ministry area continues to support charitable causes such as=_ Raven House Local food banks Mission to Seafarers Leprosy Mission Baby and children's clothing to York Police Mission to Sub Saharan Africa. Di0san Mission to the Highveld, South Africa. Throughout the ministry area. churches are exploring new ways to make connections beeen the church and community. This has included= coffee and chat wami hubs chocolate church social events food banks Nativity play and Christmas event in communty hall with local school. Choir festival Discipleship within the worshipping communty has been nurtured through prayer meetings, Bible studies, and small groups. The Ministry Area Council remains committed to fostering positive relationships between congregations and promoting joint worship and social events. Risk Management, Review. and Challenges The Ministry Area Council regularly reviews major risks and implements systems to mitigate them wherever possible. Key risks include the condition of churches, churchyards, and halls, as well as financial pressures associated with sustsining activities. Each local church is encouraged to conduct its own risk assessments, which are periodically reviewed by the Council. The Ministry Area adheres to the Church in Wales Safeguarding Policy. Each congregation has an appointed safeguarding officer, and a Ministry Area Safeguarding Officer oversees compliance. All individuals engaged in regulated activities undergo DBS checks and maintain training in line with policy requirements. No serious safeguarding incidents occurred in 2024. Several referrals were made to the diocesan deliverance ministry. which works closely Vth provincial safeguarding teams.
Rectorial Benefice of Cwmbran Parochial Church Council Trustees. Annual Report (continuerfl Year ended 31 December 2024 Main objectives Risk Management, Review. and Challenges {continuedJ Fabric Three of the seven churches-Holy Trinity, St Michael and All Angels. and St Peter-are Grade11 listed buildings. All churches are currendy in good repair. No quinquennial inspections were conducted in 2024. However, concems remain regarding the west wall of St Gabriel's Church, which suffers from moisture absorption and significant water ingress where the wall meets the roof. The Diocesan Advisory Committee (DAC} has visited the site to explore repair options. Other issues de with during the year include.. Heating system at St Gabriels Repairs to vandalised window at St Peters 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 funds was £211,752 {2023'. £187.131) and restricted funds was £36.147 (2023= £36.324>, a total of £247,899 (2023.. £223,455. £275,034 {2023'. £282,585) was spent to provide the Christian ministry in the Benefice including the contribution to the diocesan parish share (that largely provides the stipends and housing for the clergy). There was a deficit of (£6,172) (2023 surplus £57,117) of income over expenditure including a net gain on investments. Reserves policy The PCC policy is to retain sufficient funds centrally including the bond of £15,000 as a buffer against unforeseen circumstances or should a church make a late payment in their Share. Thus, in the latter event, enabling the Share to be paid on time so as to retain the relevant discount.
Rectorial Benefice of Cwmbran Parochial Church Council Trustees. Annual Report (continuerfl Year ended 31 December 2024 ststement of responsibilities of the trustees The charity's trustees are responsible for preparing the trustees annual report and the financial ststements in accordance with acceptable law and the United Kingdom accounts'ng standards Iunited Kingdom generally accepted accounting practise]. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to- Accounting policies and then apply them consistent. Observe the methods and principles in the charities SORP. Make judgments and estimates that are reasonable and prudent. State whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the ongoing concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with regional Chrissy at any time the financial position of the charity and enable them to ensure that the financial statements comply with their duty in section 1715] of the charities act 2011 and have due regard to guidance published by the Charity Commission. The trustees are also responsible for= Safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. and Vvhere appropriate maintaining the integrity of the financial infomiation included on the charity's website in line with the United Kingdom legislation. 16 Jan 2026 The trustees annual report was approved on and signed . trustees by.. .on behalf of the board of Lay Co-chair Treasurer
Rectorial Benefice of Cwmbran Parochial Church Council Independent Examinerfs Report to the Trustees of Rectorial Benefice of Cwmbran Parochial Church Council Year ended 31 December 2024 I report to the trustees on my examination of the financial ststements of Rectorial Benefice of Cwmbran Parochial Church Council ('the charity,) for the year ended 31 December 2024. Responsibilities and basis of report 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 20111'the Act,). 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 Charity Commission under section 145{5){b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confimi 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 records were not kept in respect of the Charity as required by section 130 of the Act, or the accounts do not accord wth those records, or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair viev/ which is not a matter considered as part of an independent examinats'on. I have no concems and have come across no other matters in connection wth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr Jonathan Rhodes Bsc BFP FCA Independent Examiner Walter Hunter & Co Limited Chartered Accountants 24 Bridge Street Newport South Wales NP20 4SF
Rectorial Benefice of Cwmbran Parochial Church Council Statement of Financial Activities Year ended 31 December 2024 2024 Restricted fvnds Total funds Total funds 2023 Unrestricted funds Note Income and endovnnents Donations and legacies Charitable activities other fundraising activities Investment income Other income 156,307 27,402 24,038 4.005 26,540 182,847 27,402 24,038 13,612 154,243 37,774 18,939 12,499 96,444 9.607 Total income 211,752 36,147 247,899 319,899 Expenditure Expenditure on charitable activities Total expenditure 9.10 219,734 55,300 275,034 282,585 219,734 55,300 275,034 282,585 Net gains on investments 20,963 20,963 19,803 Net {expenditure)lin¢ome and net movement in funds (7,982) 1,810 16,172 57,117 Reconciliation of funds Total funds brought forward Total funds carried forward 116,932 488,099 605.031 547,914 108,950 489,909 598,859 605,031 The ststement of financial actiwties includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. (The notes on pages 10-26 forn] part of these financial statements)
Rectorial Benefice of Cwmbran Parochial Church Council Statement of Financial Position 31 December 2024 2024 2023 Note Fixed assets Fixed Asset Investments 14 415,508 407,227 Current assets Current Investments Cash at bank and in hand 15 15,000 206,868 15,000 217,057 221,868 232,057 Creditors: amounts falling due within one year Net current assets 16 38,517 34,253 183.351 197,804 Total assets less current liabilities 598,859 605,031 Net assets 598,859 605,031 Funds of the charity Restricted funds Unrestricted funds 489.929 108,930 488,099 116,932 Total charity funds 17 598,859 605,031 These financial statements were approved by the board of trustees and authorised for issue t&llan 202fi............. and are signed on behalf of the board by: Elizabeth Ke Trustee John Ferran Trustee (The notes on pages 10-26 forni part olthese financial statements)
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements Year ended 31 December 2024 General inforniation The charity is a public benefit entity and a registered 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 Complian with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP {FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparation The financial ststements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The figures in the financial statements are rounded to the nearest whole pound. Winding up or dissolution of the charity There are no material uncertainties about the charity's ability 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 charitsble body or bodies having similar objects to the charty. Since March 2020 the Covid- 19 pandemic has seriously affected the UK generally. We havetaken all necessary steps to combat the effects of the virus and to ensure that the charity is able to continue to operate. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS102 (a) No cash flow statement has been presented for the charity. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 10
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 Accounting policies (continued) Income tsx As a registered charity, the charity is exempt from income tax to the extent that its income and gains are applicable to charitable purposes only. Value added tax is not recoverable by the charity and is therefore included in the relevant costs in the Statement of Financial Activities. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted fvnds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure as declared by the donor or through the terms of an appeal. Incoming resources All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated wth the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure it reliabty, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted fvnds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted. Recognition of Liabilities Liabilities are recognised on the accruals basis in accordance with normal accounting principles.
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 Accounting policies (continued) Resources expended Expenditure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the ststement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charrtable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All Gosts are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated diredy to that activity- Shared costs are apportioned beeen the activities they contribute to on a reasonable. justifiable and consistent basis. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Planned giving Loose collections Gift Aid Missionlworld Church Contributions Donations 58,577 23,931 22,950 294 20,316 58,577 23,931 22,950 294 20,316 Legacies 26,455 3,500 29,955 Grants 3,784 23,040 26,824 156,307 26,540 182,847 Unrestricted Funds Restricted Total Funds Funds 2023 Donations Planned giving Loose collections Gift Aid Missionlworld Church Contributions Donations 54,324 32,117 21,905 341 11,755 120 54,444 32,117 21,905 341 13,186 1,431 Legacies 2,530 2,530 Grants 9,104 20.616 29,720 132,076 22.167 154,243 12
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2024 St Gabriels service fees St Michaels service fees St Marys service fees St Peters service fees Holy Trinity seNice fees All Saints service fees St Gabriels hall rental St Michaels hall hire st Marys hall hire 1,591 2,154 794 881 8,917 1,678 4,364 7,023 1,591 2,154 794 881 8,917 1,678 4,364 7,023 27,402 27,402 Unrestricted Funds Restricted Total Funds Funds 2023 St Gabriels service fees st Michaels service fees St Marys service fees St Peters service fees Holy Trinity service fees All Saints service fees St Gabriels hall rental St Michaels hall hire St Marys hall hire 1,945 3,808 1,604 2,314 4,083 4,058 4,292 7,383 5,680 1,945 3,808 1,604 2,314 6,514 4,234 4,292 7,383 5,680 2.431 176 35,167 2.607 37,774 13
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 Other fundraising activities Unrestricted Funds Restricted Totsl Funds Funds 2024 st Gabriels fundraising income St Michaels fundraising income St Marys fundraising income St Peters fundraising income Worship Centre fundraising income Holy Trinity fundraising income I Saints fundraising income 4,394 2,788 8,939 87 125 6,740 965 4,394 2,788 8,939 87 125 6,740 965 24,038 24,038 Unrestricted Funds Restricted Total Funds Funds 2023 St Gabriels fundraising income St Michaels fundraising income St Marys fundraising income St Peters fundraising income Worship Centre fundraising income Holy Trinity fundraising income All Saints fundraising income 4,505 2,636 1,223 109 110 1,069 6,983 4,505 2,636 1,423 109 110 3,173 6,983 200 2,104 16,635 2,304 18,939 14
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 Investment income Unrestricted Funds Restricted Total Funds Funds 2024 Other bank interest st Gabriels interest St Michaels interest St Marys interest St Peters interest Worship Centre interest All Saints interest Benefice investment income St Peters investment income All Saints investment income 566 566 148 2.517 13 56 47 806 2,517 13 56 47 1,388 8,723 151 582 8,723 151 4,005 9,607 13,612 Unrestricted Funds Restricted Total Funds Funds 2023 Other bank interest St Gabriels interest St Michaels interest St Marys interest St Peters interest Worship Centre interest All Saints interest Benefice investment income St Peters investment income All Saints investment income 454 454 124 2,200 124 2,200 53 53 502 502 8,269 373 513 8,269 373 480 33 3.253 9,246 12,499 15
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 other income Unrestn'cted Funds Restricted Total Funds Funds 2024 All Saints transfer of assets Unrestricted Funds Restricted Total Funds Funds 2023 I Saints transfer of assets 67,803 28,641 96,444 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Grant & Other Financial Support Church Property Parish Activities Other Resources Expended Support costs 693 64,022 20,054 1,390 133,575 21,755 32.385 1,160 22,448 96,407 21,214 1,390 133,575 219,734 55,300 275,034 Unrestricted Funds Restricted Total Funds Funds 2023 Grant & Other Financial Support Church Property Parish Activities 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 10. Expenditure on charitable activities by activity type Activities undertaken Grant funding directly of activities Support costs Total funds 2024 Total fund 2023 Grant & Other Financial Support Support for Ministry Church Property Parish Activities Other Resources Expended Governance costs 889 21,559 22,448 128.775 96,407 21,214 15,534 133,272 111,112 14,665 128,775 96,407 21.214 1.390 1,390 4,800 3,431 4,571 4,800 119,900 21,559 133,575 275,034 282,585 16
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (c¢pn•nued) Year ended 31 December 2024 11. Analysis of support costs Anaty51s of 5UPPOrt IAbrship Holy Trinity costs activity Centre Church 8 Total 2024 Totsl 2023 St Gabriel's St Mthael's Church Church St Mary's Church St Pet*s Church General offi Govern8nTr costs Ministry supwrt 2,825 686 19,345 2,590 686 32.484 1,041 2.420 2,330 686 5.867 1,871 685 23,155 14.118 4,800 114,657 10,505 4.571 122.767 685 14.479 15.016 4.041 22.856 35.760 16.743 7.147 8.883 16.475 25,711 133.575 137.843 17
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 12. Independent examination fees 2024 2023 Fees payable to the independent examiner for= Independent examinab'on of the financial statements 4,800 4,571 13. Trustee remuneration and expenses No remuneration or other beneffts from employment the charity or a related entity were received by any trustee No trustee expenses have been incurred 14. Fixed asset investments Church in Church in Wales Wales Common Common Investment Investment Fund Shares Fund Reserve Total Valuation At 1 Jan 2024 Additions Disposals Fair value movements 385,009 22,218 8,877 (21,559) 407,227 8,877 (21,559) 20,963 20,963 At 31 Dec 2024 405,972 9,536 415,508 Carrying amount At 31 Dec 2024 405,972 9,536 415,508 At 31 Dec 2023 385,009 22.218 407.227 All investments shown above are held at valuation.
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 14. Fixed asset investments (continuéd) 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 Saint's church, Llantarnam) and as a Fabric Fund {for any Church or Churchyard in the Parish of Pontnewydd}. The middle market value of these shares as at 31st December 2024 was £2.3337 (2023: £2.2125). All Saint's also hold a legacy investment and a Trust fvnd investment. Church in Wales Common Inveslment Fund Holding St Peters Central Chancel Fabric Fund Repair Fund Saint's All Saint's All Saint's Chancel Legacy Chancel Repair Fund Holding Repair Fund 2024 236 2024 108,518 2024 7,642 2024 2,893 2024 657 No. of capitsl shares Value £551 £253.248 £17,834 £6.751 £1533 No. of accumulation shares 2,492 49,325 1,326 £5,816 £115,110 £3,094 Value £296 £32 £107 I&E fvnd cash 2023 236 2023 108,518 2023 7,642 2023 2,893 2023 No. of capitsl shares £522 £240,096 £16,908 £6,041 Value 2.601 49.325 accumulation shares £5,755 £109,132 Value £145 £29 I&E fund cash 19
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 15. Current investments 2024 2023 National Savings Bond 15,000 15,000 16. Creditors: amounts falling due within one year 2024 2023 Trade credf(ors Accruals and deferred income 33,008 5,509 29,682 4,571 38,517 34,253 17. Analysis of charitable funds Unrestricted funds Gains and At losses 31 Dec 2024 At 1 Jan 2024 Income Expenditure Central Fund St Gabriels St Michaels St Marys St Peters Worship Centre Holy Trinity All Saints 8.258 3,442 49,296 10,470 1,839 4.606 3.617 35,404 585 40,160 43,648 20,620 6,035 8,790 36,355 55,559 {4,798) {46,152) {49.642} {27,366) (8,801) {8,1971 {37.675) {37.103} (219,734) 4,045 (2,5501 43,302 3,724 1927) 5,199 2,297 53,860 108,950 116,932 211.732 Gains and At losses 31 Dec 2023 At 1 Jan 2023 Income Expenditure Central Fund St Gabriels St Michaels St Marys St Peters Worship Centre Holy Trinity All 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 {2,836) {39,236) {61.416} {27,184) (8,246) (7,2611 {29,724) {72.929) (248,832) 8,258 3,442 49,296 10,470 1,839 4,606 3,617 35,404 110,830 254,934 116,932 The unrestricted funds include designated funds. 20
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Financial Statements (conlinued) Year ended 31 December 2024 17. Analysis of charitable funds (continued) Restricted funds Gains and At losses 31 Dec 2024 At 1 Jan 2024 Income Expenditure General Fund St Gabriels St Michaels St Marys St Peters Holy Trinity I Saints 386,271 10,608 24,753 15,616 6,561 13,719 30,571 8,702 148 20 26,540 151 (21.559) 1630) 20,963 394,377 10,156 24,773 9,045 6,712 13,719 31,157 {33,111) 586 488,099 36,147 (55.300) 20,963 489,909 Gains and At losses 31 Dec 2023 At 1 Jan 2023 Income Expenditure General Fund st Gabriels St Michaels St Marys St 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 {14,848) 18,452 386,271 10,608 24,753 15,616 6,561 13,719 30,571 (6,317) (4,988) 90 (7,595) {5} {33.753} 1.261 437,084 64,965 19,803 488,099 Restricted funds include Churth funds held for specific purposes including amounts in Common Investment Funds. 18. Analysis of net assets between funds Unrestricted Funds Restricted Totsl Funds Funds 2024 Investments Current assets 415,508 74,401 415,508 183,351 598,859 108,950 Net assets 108,950 489.909 Unrestricted Funds Restricted Total Funds Funds 2023 Investments Current assets 407,227 80,872 407,227 197,804 116,932 Net assets 116,932 488,099 605,031 19. Related parties There are no related paty transactions in the reporting period that require disclosure in the financial statements.
Rectorial Benefice of Cwmbran Parochial Church Council Management Information Year ended 31 December 2024 The following pages do not forni part of the financial statements. 22
Rectorial Benefice of Cwmbran Parochial Church Council Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Income and endonents Donations and legacies St Gabriels planned giving St Michaels planned giving St Marys planned giving St Peters planned giving Worship Centre planned giving Holy Trinity planned giving All Saints planned giving St Gabriels loose collection St Michaels loose collection St Marys loose collection St Peters loose collection Worship Centre loose collection Holy Trinity loose collection All Saints loose collections St Gabriels gift aid St Michaels gfft aid St Marys gift aid St Peters gift aid Worship Centre gift aid Holy Trinity gift aid All Saints gift aid St Gabriels World church contribLrtion St Michaels World church contribution St Marys World church contribution Holy Trinity Wodd church contribution St Gabriels donations st Michaels donations St Marys donations St Peters donations Worship Centre donations Holy Trinity donations All Saints donations St Gabriels legacies St Michaels legacies St Marys legacies All Saints legacies St Gabriels grant St Michaels grant St Marys grant Holy Trinity grant All Saints grants 9,322 12,557 5,661 660 2,759 8,403 19,215 2,372 5,428 1,347 3,150 4,291 5.477 1,866 2.000 7,434 2,267 641 1,568 3,867 5,173 203 66 25 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 1.543 3,402 5,520 55 64 22 200 7,071 1,030 2,295 400 110 1,399 881 1,000 1,000 15,914 1,657 1,324 560 460 401 1,000 3,500 25,455 530 587 6,317 15,438 6,675 703 1.044 23,290 2,490 182,847 154.243 23
Rectorial Benefice of Cwmbran Parochial Church Council Detailed Statement of Financial Activities (continue Year ended 31 December 2024 Income and endowments (continued) Charitable activities St Gabriels service fees St Michaels service fees St Marys service fees St Peters service fees Holy Trinity service fees All Saints service fees St Gabriels hall rental St Michaels hall hire St Marys hall hire 1,591 2,154 794 881 8,917 1,678 4,364 7,023 1,945 3,808 1,604 2,314 6,514 4,234 4,292 7,383 5,680 27,402 37,774 Other fundraising activities St Gabriels fundraising income St Michaels fundraising income St Marys fundraising income St Peters fundraising income Worship Centre fundraising income Holy Trinity fundraising income All Saints fundraising income 4,394 2,788 8,939 87 125 6,740 965 4,505 2,636 1,423 109 110 3,173 6,983 24,038 18,939 Investment income Other bank interest St Gabriels interest St Michaels interest St Marys interest St Peters interest Worship Centre interest All Saints interest Benefice investment income st Peters investment income All Saints investment income 566 148 2,517 13 56 47 1,388 8,723 454 124 2,200 53 502 8,269 373 513 13,612 12,499 Other income All Saints transfer of assets {96,444) 2024 2023 Total income 247,899 319,899 24
Rectorial Benefice of Cwmbran Parochial Church Council Detailed Statement of Financial Activities (continue Year ended 31 December 2024 Expenditure Expenditure on charitable activities Repairs and maintenance Other establishment Maintenance of services General parish expenses (including governance) Parish share Mission costs Parochial Expenses of Clerics Cost of fundraising ExptIOnal propety expenses 70,447 17.881 15,541 10,473 114,657 889 14,118 1,390 29,638 68,562 35,489 13,725 5,511 122,767 686 10,505 3,431 21,909 275,034 282,585 Total expenditure 275,034 282,585 Net gains on investments Benefice Fund gainsllosses on investments St Peters gainsllosses on investment All Saints gainsllosses on investments {19,130) (3301 11,5031 120,963) (18,452) (901 (1,261) (19,803) Net (exp8nditure)lincome 16,172 57,117 25
Rectorial Benefice of Cwmbran Parochial Church Council Notes to the Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Expenditure on charitable activities Grant & Other Financial Support Activities undertaken directly Mission Costs 889 686 Grant funding activities Fabric fund paid out to churches for maintenance Support for Ministry Support costs Parish share Parochial Expenses of Clerics 21,559 14,848 114,657 14,118 122,767 10,505 128,775 133,272 Church Property Activities undertaken directly Maintenance of Churches Maintenance of Other Property Exceptional Property expenses 48,888 17,881 29,638 53,714 35,489 21,909 96,407 111,112 Parish Activities Activities undertaken directly Maintenance of Services General Parish expenses 10,741 10,473 9,154 5,511 21,214 14,665 Other Resources Expended Activities undertaken directly Cost of Fundraising Governance costs Govemance costs - accountancy 1,390 3,431 4,800 4,571 Expenditure on charitable activities 275,034 282,585 26