Parish of Aberystwyth Parochial Church Council (The Local Ministry Area of Aberystwyth) Annual Accounts for the year ended 31 December 2023 egistered Charity No. 1134858
Chairfs Comments The Parish or Local Ministry Area ILMAI of Abery5twyth has enjoyed a year of relattve 5tsbility following on from the disruption to activity caused bythe COVID restriction5. Our churche5 have developed their own distinrtive characteristics. and each congregation has grown in confidence with the new LMA structure. There continue to be increasing signs of cooperation and understanding between the congregations. It has also been a joyto see a steady growth in most of our congregations and a number of adult baptism5 taking place. Alongside the Sunday and midweek seThices, OUtaCh events, and small study groups, held in each church there has been a great deal of additional activity serving our local communities through the provision of wami spaces. meals for those struggling with the rising cost of living, a food bank, a baby bank, yOLrth and children's work. and joint working with schools, the university and local charities. This has meantthat a growing number of our members are giving of their time and finances in an extremely generous way. Without this support we would not be able to participate in many of these activities. As an LMA our resources continue to be stretched and we are aware of work needing to be done to maintain our church buildings over the coming years. We are delighted that in cooperation with Abery5twyth university work has stsrted to improve the car park and area surrounding St Michael's church. We have also been succe55ful in applyin8 for an inttial grant for The Well which will enable it to continue and to develop further plans in cooperdtion wtth Santes Fair. Financially we are still needing to draw on reseryes but it is hoped that as we look forward this will enable us to do the necessary repair work and to adapt our buildings for more flexible use. As churches we are inueasingly aware of our need to ore for the environment ond are working to develop policies in line wfch this commitsnent. The LMA has a committed team of stsff both clergy and lay, who work hard to ensure the smooth running of our churches and additional activities. Their loving care and pastoral support are greatly appreciated and much of their work is done out of the spotlight. In addition to our staff team, we would not be able to funrtion without the many committed volunteers who Serve on committees, oversee the buildings and finances and serve in our compassion ministries. We are very grateful for all of these people and their selfless service. Tru5tees' Report objeclives and Actlvities The Local Ministry Area is part of the Di0Trse of St Dawds and exists to further the Chri5ti3n gospel by providing regular opportunities for people to come together for worship, teaching and fellowship and to demonstrate the love of God by invotvement in the provision of servi5 withir) our local communities. This is achieved through the provision of regular thurch services reflecting different thurch tradition5 and small study groups and by working togetherto offer parent and toddler groups. youth groups. children and family focussed activities, meals and friendship and a food bank and babv bundle service for those who are Social isolated through poverty. homelessness, addiction. disability or old age. The parish or Local Ministry Area ILMAI consists of fNe churches Uanwchairn, St Anne's, Holy Trinity. Sante5 Fair and St Michael's. Our ministry team consisting of Revd. Canon Mark Ansell Iministry Area Dean). Revd. Dr Liz Rees, Revd. Cei Rees. Revd. Becky Evans Iwicarsl. Revd. Dr Robert Wilkinson {rn stipendiary Vicar}, and Revd Canon Michael Rees Iretiredl, and Worship Leaders Mel Burgess and Tessa riggs, have worked well together as a team to ensure the provision of our regular servi$ and day to day oversight of our activities. We are Brateful to Dr Anne Dye (Lay Reader). Dr Elaine Jensen INSM Curatel and Revd. David Whitehouse Iretiredl who stood down from seing in our LMA during 2023. Alongside these clergy roles we have a lay staff team corbsistirkg of a children Youth arnd Families Pa51ar, Worship Pastor, two Pastoral Assistants. a Financial Coordinator and an offi Administrator.
Each church has its own Style and a regular pattern of worship services. Alongside these activitles, weddings, funerals, and baptisms, are conducted as requested. Salm 127 Os nad yw'r ARGLWYDD yn adeiladu'r ty, y mae ei adeiladwyr yn gweÈthio'n ofer. Os nad yw'r ARGLWYDD yn gwylio'r ddinas. y mae'r gwylwyr yn effro'n ofer. Unless the Lord builds the house. the builders labour in vain. Unless the Lor(I watches over the city, the guards stand watth in vain. As we reflect upon the past year in our ministry area and think aboLt¢ all of the events. celebration5 and memorable moments.we remind oursee$that itisGod who is building His kingdom, andwe look to Him for guidance and provision. As congregations we fa many challenges. uncertainty and dtfficulties, but we look to God for Hi5 direction and we find our security in Him. Achievement5 and Performance As we enjoy the new growth that spring brings. we give thanks for signs of God at work amongst us and new people and new ministries in our churches. Thank you for partnering with us and serving God in our church here in Aberystwyth. As cler8y we would like to thank you for your sUPPOrt. encouragement and sacrificial work over the past year. We have been blessed to be part of the Welsh GovernmenV5 Apprenticeship programme this year and have benefited from havingtwo yOUDg people workingamongst usand exploringtheirfuture vocations a5 part of this 5cherne. IVS been good to continue to develop partnerships wtth other congregation5 in the town, even if this year we have held fewer united services. The ministers of the different denominations meet together regular to share and pray. We have continued to work with local organisations such as Menter. the town cour)cil and the university. Ft is a privilege to have a good number of students wor5hippinB in our churches across the ministrry area. It has been a busy year with so many activities regularly taking place and we have seen growing numbers at Mature Munch, our Parents & Toddlers groups. and the youth group which meet5 at st Michael's. It was a delight to hold united services throughout knly week. as we welcomed Archdeacon Mones Farah back to Aberystwyth. The community work of the Well. and the Well on Sunday. continues. with partnerships With the Wallich and Ceredigion Council. It was lovely to have this work recogni5ed by the Lottery Funding. who have contributed Significantly to the running costs of the Well for the next couple of years. Thank you to those who oversee this important work. We are still commwtted to outreach with the Jubilee Storehouse in Penparcau, and the family activities at StAnne's. Progress is being made with developing a permanent home for the Well in St. Mair. We have also worked with the Mothers, Union and Plant Dewi to grow the baby bundle provision. The provision of warm spaces. food bank and meals to those who are struggling finarbcially arbd emotional has seen everb greater demand a5 increases in the cost of living continue to have an impart in our local communities. In addition, we are working more closely with local charltles tackling homelessness, food poverty, domestic abuse and tem)inal illness. Some highlights from the year have included the Christmas stsble Trail for familie5 in St Michael's, wsits from the Archbishop and Diocesan Bishop. the British Legion ReMernbran Day setvice at Holy
Trinity, the visit of Cass Meurig to St Mair. and memorable carol seNices with full churches. Our churches have also hosted 8 number of conrts in partnership wtth local organisations. During 2023 there has been an increasing level of participation in all of our attivities. W15its to Schools have been reestablished with our stsff and volunteers contributing to assemblie5 and also sUPPOrting the work within the Schools. We have also responded to a request from Abery5twyth University to work more dosely wtth the student support seNices by providing a chaplaincy seNice. This is in addition to the pastoral support offered to students attending our churches. There is increasing awareness within the LMA to the need to care for our envrronrnent as part of our Christian stewardship and we are committed to considering the iwnpact of our decision making on the world irb which we live. One of our churches has achieved a silver eco award and two have received bronze awards. financial RevSew foryear ending December 2023 2023 has Cortinued to see an increase in church attendance although we have not seen a consequent increase in giwng to the church. Artivities have a150 increased, with a resulting increase in expenditure. The total income fur 2023 across the churches was in the regK)n of £598,306, £132.215 of which resulted from Sale of property by St Michael's. Expendtture has increased to around £646,386. The LMA continue5 to face significant financial challenge5 due to reduced attendance from pre-covid levels, and increasing costs due to inflation. The decision to Sell properties has resulted in a lesser burden on church staff. enabling them to concentrate on the main purposes of the LMA. The LMA cor)tinues to apply for grants where available. and to look for economy measures. Donations from St Michael's Car Park Limited have increased again this year, despite the car park being partially closed during improvement work. The agreement with Aberystwyth Universty for their leasing of part of the car park will result in a more stable income for the company in the fLrture, with a subsequent effect on donations to the LMA. Nevertheless the current downward trend in voluntary donations and increasing costs represents a significant challenge to be overcome in the coming years if we are to maintain our current activity levels. Structure, Govemance and Management The Local Ministry'Area of Aberystwyth Parochial Church Council is constituted under the constitution of The Church in Wales and abide5 by their regulations. The structure of the Counol is that each of the five churches elects its own Church Committee on an annual basis at their individual Easter Vestries. The elettion of each member is norrnal for a period of three years. Some of those members are then appointed to represent their church on the LMA Council. Our Witars, Curate, MinistryArea Wardens and Church Wardens are ex-officio members of the LMA Council. The appointed secretary and treaSUr, as well as other lay people and licensed readers, are co-opted to the LMA Council and a lay chair is elected. The trustees (members of the Ministry Area Council) are chosen ft)r their experience. talents and contribution to the life of their respective churches. Trustees are direrted to the Charity Commission booklet The Essential Trustee What you need to knosrf for details of their responsibilities, as well as ,being invited to attend a training evening. The trustees. sitting a5 the Ministry Area Council, hold a meeting at least quarterly, to receNe a report from one of the two sub-wardens appointed by each church and from the church treasurers. These reports review all the activities of each of the churches. Any proposals, which require the sanrtion of the Ministry Area Council are put to the meeting and are passed only if there is unanimtty.
Decision-making authority rests with the Clergy, the LMA Counal, the LMA Wardens and LMA Treasurer, although authority for many local church matters is delegated to the team vicars, church comminees. sub-wardens and church treasurers. The level of devofvement Is specified in the Standing Orders for the Ministry Area. Lay staff and voluntary leaders have authorrty within their own areas of ministry for routine activitie5. as well as management of delegated budgets. It is the responsibility of the aergy and LMA Council to consult and to Co-operate in all matters of concern and importance to the LMA for the promotion of the whole missKJn of the Church, pastoral. evangelistic. wcial and ecumenical in the LMA. The trustees are responsible for preparing a tru5tee5' annual report 3nd financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generaliy Accepted Accounting Prattice). The LMACouncil are required under the Chartties Act 2011 and the Constttution of the Church in Wales to prepare financial statemetits for each year which give a true and fair view of the state of affairs of the charity and of the irbcoming resources and application of resources. of the charity for that period. In preparing the finanual statements. the trustees are required to- select suitable accounting policie5 and then apply them consistently. observe the methods and principles in the applicable Charitie5 SORP. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standard5 have been followed, subject to any material departures that must be disclosed and explained in the financial statements. prepare the financial statements on the gorng concern basis, unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting record5 that disclose wtth reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply wfch the Charitie5 Art 2011, the applicable Charities (Accounts and Reports) Regulation5, and the Church in Wales. constttution. They are also responsible for safeguarding the assets.of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. In addition to the Ministry Area Treasurer, each church appoints a Treasurer to keep the necessary fir)ancial records. St. Michael's Church also employs a Finan Co-ordirbator to carry out this task. The trustees are responsible for the maintenance and integrity of the charty and financial infomiation included on the charitys website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. Clerey are paid by the Church in Wales and remuneration is set bythem. All other officers and trustees give their time voluntarily without payment. Lay staff rates of pay a set bearing in mind local rates of pay and statutory minimums, with a desire to be as generous as our limtted finances will allow. As part of the Diocese of St DaMd5 Wtthin the Church in Wales, the LMA is represented on various committees and also benefits from access to funds available from the Diocese for specific ministry projetts. Additionally, the LMA has developed strong links locally, and works with other church denominations in the area in a number of different ministry areas. St. Michael's Car Park Ltd is a company whose shareholders are the wardens of St. Michael's Church and that donates all of its profits to St. Michael's Church.
Administrative detsils The Trustees are the members of the Aberystvryth Ministry Area Council. Change5 in the membership of the Aberystwyth Ministry Area Council are generalty made at the annual LMA Easter Vestry meeting/AGM, held last year ori 25 April 2023. Changes made during 2023 are indicated. Title Name Status Appointed or Retired in 2023 ritle Name Status Appointed or Retlred in 2023 Retired Rev Dr Mark Peter Ansell Bunting Clissold Davies Davies Davies cleric Ex-officio Co-opted Ex-officio Ex-offic Ex officio Co-opted Elected Ex Officio Cleric Elected Ex officio Ex-officio Ex officio Mr Mrs Mrs Sion Avril Diane Shedrack Dr Karen Mrs Mary Mrs Sal Rev Cei Rev Dr l Liz .. Mrs Mandy Andrew Lorena Enid Robert Meredith Morri5 Morris Mungati Phillips Platt Price Rees Rees Rowe Starr Troughton Welsh Wilkinson Ex officio Elected Elected Elerted Ex officio Ex officio Elected Cleric Cleric Elected Ex officio Ex Officio Ex officio Cleric Appointed Mr Miss Mr Andrew Hannah Robert Anne Malcolm Rolant Becky Andrew Sue Ann Elaine Retired Dr Dye Retired Appointed Mr Mr Rev Prof Mrs Mrs Rev Dr Evans Henley Henley Jone5 Jensen Appointed Mrs Mrs Rev Dr Retired David Jamie McBride Medhurst Ex offiio Elected Prof Mr Mike Tudor Woods Wynn- Williams Elected Ex-officio Appointed Prof Details of other trust-holding assets on behalf of the various churches are given in Notes to the Acco¥Jnts No's 18 & 19 below. Chairperson- Mrs Sue Henley Parish Wardens= Dr Jamie Medhurst & Mrs Lorena Troughton Parish Trea5urer'. Mrs Gill Clissold Principal Banker: The Cooperative Bank. P.0. Box 250. Delf House. Southway Skelmersdale WN8 6wr Solicitor: Alun Thomas & John. Crynfryn. Eastgate. Aberystvmh, Ceredigion. SY23 2AR Accountant: LHP Chartered Certified Accountsnts. Ty Harford. knar Harford. Llambed SA48 7HD
Plans for the Future Looking ahead the LMA council will continue to monitor our finances carefully while seeking to maintain or increase our current levels of activity- We have agreed budgets for the coming year and are planning to use income from the liquidation of assets to fund not only remedial building work but also improvements to our remaining buildings to make them more fIexible spaces for our future needs. We will continue to tryto maximise income and to apply for grantswhere possible to support the work that we are doing. Report for 2023 approved by the LMA C(wncil arrfl signed on its behalf by thairperson:
Statement of Financial Activitie5 for the year ending 31 Decernber 2023 2023 2023 2023 2023 2022 Note Unrestricted Restricted Endowments Total Total Income Donations & Legacies Charitsble Activtties Money Raising 292,492 25.568 74.511 2.423 367,003 27.991 553,135 25,993 1.954 41.134 3,133 132,406 496,6YJ 75 23,863 747 2.029 64,997 3,880 132,406 598,306 1,584 65.830 814 5,861 653,217 Property income Irbvestment income Other income Total Income 101,619 Expenditure Cost of money raising Mission & Grants 2.172 49.615 52 17.110 2,224 66,725 1,443 39.136 io Support for ministry Charitable activities Parish artivities- Church seNices General parish expenses Chufch property.. Maintenance of church Maintenance of other property Total expenditure 265.188 16.905 265.188 16.905 259,141 11.845 li 21.646 78.703 21,746 78.935 19.697 59,410 12 232 13 14 74,841 21,819 530.892 28 97.975 115.497 74,869 119,794 646,386 50,580 77,016 518,268 Net movement in funds before gains and losses on investments 134,202} {13.8781 148,0801 134,949 Gains1{105se51 on investments 3.Cl)2 3,002 16,3091 Transfers between funds 13.638 113.6381 Net movement in fvnds 120.5641. 1275161 3,IX12 145.0781 128,640 Total funds broughl forward 662,071 147,481 53,809 863,361 734,721 Total funds carried forward 641,507 119.965 56,811 818,283 863,361
Balance Sheet . as at 31 December 2023 Unrestrirted Reslrirted Endowment Funds Funds Total Prior Funds Year Note Fixed Assets Tangible fixed assets Investments 341.288 341,288 56,811 426.569 53.809 18 56.811 Current Asset5 Stock5 Debtors Cash at bank and in hand 3.832 35.556 388,155 427,543 3,832 35,556 508,120 547,508 3,592 29,586 502.404 535,582 19 119,965 119,965 Liabilities Creditors - amounts falling due within one year 20 {111.077) 1111.077) 1132,5561 Net Current assets 316,466 119,965 436,431 403,026 Total Assets less current liabilities 657.7S4 119.965 56.811 834,530 883,404 credito.. amounts falling due after more than one year 21 116.247} 116.2471 120,0431 641,507 119.965 56,811 818,283 863,361 the funds of the charity- Endowment funds Restricted funds Unrestricted fund5 Designated funds Property fund Gera1 fund 56.811 56,811 119.965 53,809 147,481 24 25 119.965 109.837 410.757 120,913 109.837 410.757 120.913 641,507 818.283 4,841 278,541 378,689 662,071 863,361 641.507 119,965 56.811 Approved by the Local Ministry Area Council on lolq lth and signed on their behalf by:" Revd Canon M Ansell Local Ministry Area Dean and Trtee
ststement of Cash Howstor the year endi 31 December 2023 Note 2023 2022 Net cash generated byl(used In) operatlng artlvltles 1204,144) 176.781 Cash flows from investing activities Ir)terest Purchase of tsngible fixed assets Proceeds from sale of investments Net cash generated by/(used in) investlng acltvtt5es 814 9,5671 209.776 213,656 {8,7531 CA5h flow frorn financing activities Repayment of borrowing Cash used in financing acti¥ities 13,796) (3,796) 14,4451 (4,4451 Increase/ldecreasel in cash and cash equivalents in the year 5,716 163.583 Cash and cash equivalents at the beginning of the year 502.404 338,821 Cash and cash equivalents at the end of the year 508,120 502,41J4 io
Notes tothe Accounts for ihe year ended 31 December 2023 Accounting Policies Basis of preparatlon of accounts The accounts are prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prattl applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK IFRS 1021- (Charities SORP IFRS 1021), and the Church in Wales Accounting Regulations. The parish constitutes a public benefit entity as defined by FRS 102. In¢ome All income is recognised once the parish has entitlement to the income. it is probable that the income will be received and the amount of income re1¥able can be measured reliably. Income from the government and other grants, whether capital grants or revenue grants. is recognised when the charity has entidement to the funds. any performance conditions attached to the grants bave been met, it is probable that the income will be received and the amount can be measured reliably and is not defeed. Rental income reiVed in advance of the period to which tt relates is credtied to other creditors. Income tax rebates under the gift aid scheme are included in the accounts of the period when the underlying income was received. Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator for the estste has communicated the amount and settlement date. In the event that the gift 15 in the form of an asset other than cash, recognition is subject to the value of the gift being reliably rnea5urable with a degree of accuracy. Glfts in kind reiVed for the food bank are not included in the accounts as it is imprartical to estimate their value. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. All expenditure is accounted for on an accruals basis. Giving to individuals and other organisations are paytnents made to third parties in the furtherance of the charitsble objects of the parish. li
Notes to the Accounts for the year ended 31 December 2023 coTrtinued Attountlng Polkles continued .IA TangTble fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Depreaation is provided at rate5 calculated to write off the cost of fixed assets, le5S their estimated residual value, by equal annual instalments over their expected useful INes as follows.. Fixtures. Fittings and Equipment 4t0 20 years Land NIL Buildings 50 years Items are capitalised rf they exceed £51XJ at cost Expendtture on improvements to the church building are charged to outgoing resources. Investment properties are included in the balance sheet at their currer¢t market value. No depreciation h3s been provided. Some of the residential buildings are held for both operational use and as investment property. In the opinion of the trustees, the fair value of the investment property component cannot be measured reliably without undue cost or effort, and therefore these properties are included wtthin tahgible fixed assets. Inve5trnents Investments are a fomi of basic financial instrument and are stated at their fair value as at the balance sheet date. Realised and unrealised gains and losses are included in the Statement of Financial Artivities. Investment income from funds held in trust for the parish by the Representative Body of the Church in Wales and the Diocesan Board of Finance is credited to income when received. Stocks Stocks of goods for resale are valued at the lower of cost and net realisable value. Fund accounting Unrestricted funds are available to spent on activtties that further any of the purposes of the church. Designated funds are unrestrirted funds which the church committee decide5 at their discretion to set aside for a specific purpose. Restricted fund5 are donations which the donor has specified are to be solely used for a specific purpose, or which have been raised through an appeal by the church for a specific purpose or cause. Designated fvnds for church acttvtties Certain church activities such as youth groups manage their own funds and carry forward surpluses at the year end towards their own artivities. Income generated by these artivities Is credtted to the designated fund and released as expenditure is incurred. unless already to a restricted fund as described in note 1.3. Rector's and vicar's dlscretionaryfund Gifts received for use at the rectorfs discretion are paid into a separate bank account. Transactions on the separate discretionary bank account are not included in these accounts. 12
Statement of Financial Activities- Previ year Note Unrestrirted Restrirted Endowinents Total Income Donations & Legacies Charitable Activities Money Raising Property income Investment income Other income 484,563 24,602 1.584 41.967 813 901 68,572 1.391 553.135 25,993 1,584 65.830 814 5,861 653,217 23.863 Total Income 554,430 98.787 Expenditure Cost of money raising Mission & Grants Support for ministry "Charitable activities Parish artivities- Church services General parish expenses Church property- Maintenance of church Maintenance of other property Total expendlture 1.443 22,982 259.141 11,845 1.443 39,136 259,141 11,845 16.154 io li 12 19,159 58,233 538 19.697 59,410 1.777 13 43,835 29,101 445.739 6.745 47.915 72.529 50,580 77,016 518.268 14 Net movement in funds before gains and losses on investments 108,691 26,258 134,949 Gainslllossesl on investments 16,3091 {6,3091 Transfers between funds 29.552 129,552) Net movement in funds 138.243 13,294) 16.3091 128.640 Total funds brought forward 523.828 150.775 60.118 734,721 Total funds carrled forward 662,071 147,481 53,809 863,361 13
Donations and legacies 2023 Regular Collections Donations from St Michael's Car Park Ltd Legacies Special collections and donations Gift Aid refund, Grants Other 245.589 55.5fXt 436,182 47.300 4,304 42,970 22.360 19 43.239 22.369 367,IKJ3 553.135 Grants received in the current year induded- £666 for Apprentice Fund by St Michael's Church- £7.442 for the Well Fund by St Michael's Churth- £370 for LPWS VATscheme byst Michael's Church;. £1,354 for Listed Place5 of Woship scheme by 5t Michael's Church; £i,ocKJ for St Davids DBF CYFT by St Michael's Churth- £9,999 for Jubilee Storehouse by St Anne's Church: £943 for Helping Hand fund for St Anne's Church: 595 for Cafe fund for StAnne's Church. All the activities in the parish rely on the In¥0ement of the church members. in accordance with FRS 102 and the Charrities SORP IFRS 1021. the economic contribution of volunteers is not recognised in the accounts. 14
Note5 to the Accourt5 for the year ended 31 December 2023 continued Income from charitable activrtie5 2023 11,568 16.423 27,991 2022 11.095 14,898 25.993 Church functions Other Total mission Income from money raisir Bookshop Other Total support for ministry 1.964 65 1.584 2.029 1,584 Property income Car park lease Other property rent 7.148 58,682 65,830 58,997 64,997 Other income Miscellaneous ' Surplus on disposal of property 190 132,216 132,406 5,861 5,861 Cost of money raislr Bookshop Bank charges Hall fee 1,400 799 25 1,443 2.224 1,443
Notes to the Accounts for yèar ended 31 December 2023 contlnued Mlss6on and Grants 2023 2022 In the parish Outside the parish 52.541 14.184 66.725 20,699 18,437 39.136 Mission cts ave include giving in support of individuals, missionaries, mission agencies, and relief and development agencies. Many charitie5 were supported, such as Syria Earthquake Appeal, West Wales Domestic Abuse. Aberystwyth Christian Union. The Nazareth Trust, European Christian and People & Projects Choma. io Supportfor ministry Diocesan ministry share staff costs Parochial expenses of clergy 253,164 6,381 5,643 225,166 32,935 265,188 259,141 li Churth ser¥lces Service books and materials Staff costs Organists Music and instruments Utilitie5 Wisiting speakers other Totsl maintenance of church 253 10.389 2,825 361 2,306 11,898 2,718 4.824 21.746 5,869 19,697 16
Notes to the Accounts for the year ended 31 December 2023 continued 12 General parish expenses 2023 2022 Staff costs MAILMA central costs PA'S allowance Training and Conferences Bank charges Postage, stationery, etc Publications Telephone Utilities Equipment renewals and maintenance Giving Legal and prOfeSsjnal Managementfees Queen street mortgage interest Miscellaneous Depreciation of assets 40.020 9,993 34,066 439 2,896 38 2,129 2.562 3.680 3.488 2,S85 222 10.235 3,254 1,335 309 7.401 2,693 5,058 59.410 4,253 78.935 13 Malntenance of churches Utilities Major repairs and improvements- Depreciation Other Other repairs and maintenance Vergerfs salary Telephone 31.727 18,705 3.467 2,935 2480 11310 550 15,603 16,272 74,869 50,580 14 Malntenance of other property 17,293 10,341 2,772 61,764 686 Caretaker Repairs, renewals & Maintenance Mortgage interest Management fees Churchyard maintenance Other 97.777 1.170 1,632 1,922 119.794 983 470 77,016 17
Notes to the Accounts for the year ended 31 December 2023 continued 15 Gains1(105ses1 on investments Unrealised gains/llosses} on revaluation 3,2 3,CKJ2 16.3091 16.3091 16 Stsff costs 2023 2022 Staff costs paid by the parish Wages & Salaries National insurance costs 93.460 447 82,859 1.173 84.032 93.907 No employees received employee benefits of more than £60,CKIO12022: £60.OCKJI The average monthly number ofemployees was 712022: 6) 18
Note5 to the Accounts for the year ended 31 Dernber 2023 continued 17 Tangible flxed assets Property Property Equipment TM Cost/Market value Balance as at l January 2023 Additions Disposals Balance at31 December2023: Market value 150.CD) 274.797 181.828 606,625 177,5&)) 177,5601 150,000 150.LK)O Cost 197.237 181.828 379,065 Depreciation Balance as at l January 2023 Charge for year On disposals Balance at 31 December 2023 Net book value As at 31 December 2023 As at 31 December 2022 35.386 144,671 5,376 180,057 7,720 37.730 150,047 187,777 ISO.IXKJ 150.1 159.507 239.411 31.781 37.157 341,288 426,568 The investment property has been valued by the trustees by reference to other property sales in Aberystwyth. No professional valuation has been obtained. The properties are held by trustees as follows- - 5 Queen Street: st Michael'5 and 1 Ange15 Property Ttust - Pla5 yr Afon fl: executors to the estate of Revd Walters
Notes tothe Accounts for the year ended 31 December 2023 continued . 17 TanEible Flxed Assets continued The property at 5 Queen Street. of rtet book value £159,50612022.. £161,850), is mortgEged as security for the bank loan of £20.54312022: É24,3391 included in creditors. Further tangible fixed assets used by the church but not induded in the accounts- The church building of St Michael's, Holy Trinity, St Anne's, St Mary'5, and St Llwchaiarn, their contents and the churchyards are vested in the Representative Body of the Church in Wales and do not torm part of the assets of the Parish. The Parish Hall at Castle Rooms is owned by Ysgoldy Aberystwyth trust and does not form part of the assets of the Parish. St Anne's Church Hall and Y5gol(ty Figure Four, Uanfarian are held in trust for the Parish by the RepresentatNe Body of the Church in Wales The following are held in trust for the Parish by the Di0$an Board of Finance: Buarth Church Hall Holy Trinity Church Cottages Fixed assets: Inveslments Balance 0110112023 DisPOsa15 Revaluation 2023 2023 Balance 3111212023 Investments held by the Church in Wales: Bequests in the common investment fund 53.809 3,002 56.811 19 Debtors 2023 15.055 20,501 35,556 other debtors Prepayments and accrued income 11,655 17,931 29,586 20 Creditors: Amounts falling due WTthin one year 2023 2022 Loans and overdrafts Trade creditors Other creditors Accruals and deferred intome 69,2% 15319 17,010 9,452 111,077 69.296 11.628 43.680 7,952 132,556 Included in loans and overdrafts above is £4,29612022- £42961 of a bank mortgage secured on 5 Queen Street. Other unsecured loans of £65.0(KJ12022= £65.1]) included in loans and overdrafts are repayable 6 months 2fter demand. No interest is payable on these loans. However, o repayment of any of these loans. the loan is linked to the Land Registry Index for Ceredigion. 20
Notes to the Accounts for the year ended 31 December 2023 continued 21 Creditors: Amounts falling due after moTe than one year Bank loan 16.247 16.247 20,043 20,043 The bank loan is a mortgage loan secured on the property 5 Queen Street, repayable by monthly instalments. Bank interest paid on the bank loan during the year was £1.33512022- £6861. 22 Operating leases- as lessor At 31 December 2023 the totsl future minimum lease payments for propety leases were: 2023 2022 20,997 20,997 83.988 83,988 27,996 48.993 132,981 153.978 Not later than one year later than one year and not laterthan 5 years later than 5 years 23 Capital commitments The church had not entered into any contracts for building works, other than repairs. 21
Notes to the AcCnts for the year ended 31 December 2023 cOntirnl 24 Restricted funds Balance lTrcoming Oirtgoing Transfers 2023 2023 2023 Balance OVOin023 3111212023 St Mich1,5 . Holy Trinity St Anne's 5t Mary's st Uanwchaiam 63.739 113 81,978 1,117 534 44.733 (30,5921 113,5251 11131 64.355 56.886 184.9051 53,959 1.117 534 147.481 101,619 1115,4971 113,6381 119.965 Restricted funds for each thurch comprise of- l. Grants and giving funds raised for spectfic purposes within the parish or on behalf of others. 2. Bequest5 and funds in memory donated for specific purposes or to be spent at the direction of bereaved families. 3. Fabric funds which are for the maintenance and improvement of the church buildings and halls. 4. ActNlties funds Mthich support the artNities of the churches within the porish. 22
Notes to the Accounts for the year ended 31 December 2023 ¢ontinued Unre5trirted funds Balance Incoming (hrtgoing Transfers oyoi12023 2023 2023 2023 Balance 31112120Z3 Designated funds St Michael's Holy Trinity St Anne'5 St Uanwchaiarn 152 6,674 14,372 8.305 110,3981 108,611 16,5701 18,0741 {8.3841 460 105.039 12721 4.383 687 109,837 410,757 120,913 641,507 4.IJ02 4.841 29,351 278.541 132,216 378,689 335,123 1505,5401 187,3591 662.071 496,690 1530,892} 13,638 125,3521 100,997 St Michael's property fund General Funds The St Michael'5 property fund is the value of unrestrKted funds represented by property, less the loans used to fund their 3CqUlSition. 23
Notes to the Accounts for the yèar ended 31 Dember 2023 contlnued 26 Rel*ed party tran&irtions and trustee's expenses and remuneration The clergy members of the PCC are employed by the Diocese of St David's and live in property proiiided by the diocese. They receive no rernuneration or other benefits of employmer)t from the parish. No other member5 of the PCC received any remuneration or other benef of employment from the parish, neither were they reimbursed expenses during the year. St Michael's Car Park Limited is a company owned by the church wardens of St Michael's Church. During the year St Michael'5 Church received donations of £55,5(KJ12022: £47,31, rental income of £6,OIJO12022= 7.1481. and charges of £6,12012022- £6,120) from St Michael's Car Park Limited. All the trustses are also members of the church, who gtve to the churches as part of the congregation. Identifying the total financial gtving of the trustees as a group would be an onerous task and therefore has not been done. 27 Reconciliation of net movement in funds 2023 {45.078} 7,720 1132,216} 13,880} 13,0021 12391 15.970} {21.479} 1204.144} 2022 128,640 8,707 Net movement in fiJnds Add back depreciation Add back disposal of asset Deduct Interest income Deduct gainsl add back losses on investments Decrease/lincrease) in stock Decrease/lincreasel in debtors Increaselldecreasel in creditors 18141 6,309 275 110,9711 44,635 176,781 24
Independent examinerfs report to the Trustees of the Parish oAAberystwyth Parochial Church Council I report to the trustees on my examination of the accounts of the Trustees of the Parish of Aberystwyth Parochial Church Council for the year ended 31 December 2023, which are set out on the previous pages. Respective responsibility of trustees and ex(Jminer The charitls trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. The Charitvs gr05s income exceeded £250,OCM) and l am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants. It is my responsibility to: Examine the accounts under section 145 of the Charities Act- To follow applicable Directions given by the Charity Commission {under section 145(5)Ibl of the Act, and To state whether particular matters have come to my attention Basis of independent examinerfs Stutement My examination was carried out in accordance with general Directions given bythe Charity Commission. An examination includes a review of the accounting records kept 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 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 fairf view and the report is limited to those matters set out in the statement below. Independent exominerfs 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: the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting record5- or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report51 Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. 25
Independent examinerf5 report to the Tru5tee5 ofthe Parish of Aberystwyth Parothial Church Council (Continued) I have no concerns and have come across no other matters in connertion with the examination to which attention should be drawn in this report in orderto enable a proper understanding of the accounts to be reached. Signed: Name.. Mr O R Jones The Association of Chartered Certified Accountants TP Harford 5gwor Harford Lampeter Ceredigion SA48 7HD 26