Parish of Aberystwyth Parochial Church Council
(The Local Ministry Area of Aberystwyth)
Annual Accounts
for the year ended 31 December 2024
Registered Charity No. 1134858

Chair's Comments
The Parish or Local Ministry Area ILMAI of Aberystwyth has worked tirelessly over the last twelve
months to deepen its ministry to our congregations and to the local community within Aberystwyth.
The governance structure of the LMA has become more embedded and l am grateful for the
commitment of our trustees to closer workir)g together and cooperation to ensure the common good
of all our churches, There continue to be increasing signs of cooperation and understanding between
the congregations alongside the steady growth of those worshipping with us and of those
committing to us through baptism.
Our churches are active on seven days a week encouraging spiritual growth through regular church
services, prayer meetings and study groups as well as offering safe places to engage with our local
communities. Our staff and volunteers have shown a willingness to think creatively and to adapt to
the changing needs around us. All of these activities are only possible with the support of our clergy,
staff and volunteers who give generously of their time and finance5.
As an LMA our finances continue to be stretched, and we are aware of work needing to be done to
maintain our church buildings over the coming years. Work previously started to improve the car
park and grounds of St Michael's church, in cooperation with Aberystwyth University, is nearing
completion and will mean that the grass area to the north of the church building will be available
again for the use of the church and community. Financially we are still needing to draw on reserve5,
but it is hoped that by applying for more grant funding we will be able to do the necessary repair
work a nd to adapt our buildings for more f lexi ble use.
As churches we are increasingly aware of our need to care for the environment and are working to
develop policies in line with this commitment.
The LMA has a committed team of staff both clergy and lay, who work hard to ensure the smooth
running of our churches and additiona l activities. Their loving care and pastoral support a re 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 function without the many committed volunteers who serve on committees,
oversee the buildings and finances and serve in our com passion ministries. l am very grateful for all
of these people and thei r selfless service.
l am thankful for the many 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.
Trustees, Report
Objectives and Activities
The Local Ministry Area is part of the Diocese of St Davids and exists to further the Christian gospel
by providing regular opportunities for people to come together for worship, teaching and fel lowshi p
and to demonstrate the love of God by involvement in the provision of services within our local
communities.
The parish or Loca l Ministry Area ILMAI consists of five churches Llanwcha irn, St Anne's, Holy Trinity,
Santes Fair and St Michael's. Our ministry team consisting of Revd. Canon Mark Ansell {Ministry Area
Deanl, Revd. Dr Liz Rees, Revd. Cei Rees, Revd. Becky Evans (Vicars), Revd. Dr Robert Wilkinson (non
stipendiary Vicar), and Worship Leaders Mel Burgess and Tessa Briggs, have worked well together as
a team to ensure the provision of our regular services and day to day oversight of our activities.
These have been joined by Jamie Medhurst who was licensed as a Worship Leader during the year.
Alongside these clergy roles we have a lay staff team consisting of a Children Youth and Families

Pastor, a Worship Pastor, two Pastoral Assistants, a Financial Coordinator and an Office
Administrator. We are also grateful to a wide group of retired clergy and lay volunteers who regularly
assist with the provision of all our ministries.
Each church has its own style and a regular pattern of worship services. Alongside these activities,
weddings, funerals, and baptisms, are conducted as requested. We have added new services, such
as sung evensong, to compliment our existing ones and have also maintained our online presence,
begun during the COVID lockdowns, with a live service broadcast each week and a Welsh language
service on zoom.
Our objectives are met through the provision of regular church services reflecting different church
traditions, prayer meetings and small study groups and by working together to offer parent and
toddler groups, youth groups, children and family focussed activities, meals and friendship and a
food bank and baby bundle service for those who are socially isolated through povertv,
homelessness, addiction, disability or old age. Members from across the LMA have joined together to
form a choir which leads special celebration services severa I times during the year.
Achlevements and Performance
It has been another busy year with so many activities regularly taking place and we've seen growing
numbers at Mature Munch, our Parents & Toddlers groups, the youth group and our student
activities.
The community work of the Well, and the Well on Sunday, continues, with partnerships with the
Wallich and Ceredigion Council and some funding from the Lottery. St Anne's church have also
established a café style drop in and continue to oversee the much needed foodbank service, Jubilee
Storehouse in Penparcau, Starkies children and family activities and lunches during school holidays
and a Baby bundle service in cooperation with the Mothers, Union. The provision of warm spaces,
food bank and meals to those who are struggling, financially and emotionally, remain in demand and
assisted by generous donations from the local community have been able to increase their provision
in response to need.
We have worked with schools to support the curriculum with staff and volunteers contributing to
assemblies and to providi ng activities for school groups to attend. Our clergy have also participated
in providing a chaplai ncy service to the Hospital and the University. The British Legion Remembrance
Day service was agair) held at Holy Trinity. Our churches have also hosted a number of concerts in
partnership with local organisations. In September Rali Cerdigion used the grounds of St Michael's
hurch as a base.
There is increasing awareness within the LMA to the need to care for our environment as part of our
Christian stewardship and we are committed to considering the impact of our decision making on the
world in which we live.
Financial Review for year ending December 2024
2024 has continued to see a small increase in attendance across the churches, although this not
resulted in an increase in giving. Costs of utility bills have not been subject to such a high figure of
inflation a5 in the previous twelve months and costs of maintenance of the buildings and church
activities have been kept at manageable levels.
The total income for 2024 across the churches was £491,246 which is an increase from the previou5
year if the one-off sale of property in 2023 is disregarded. Expenditure has decreased to £590,058.

The LMA continues to apply for grants where available, and to look for economy measures.
Donations from St Michael's Car Park have increased this year, despite extensive improvement work
still being ca rried out.
The LMA as a whole continues to maintain a deficit budget and is drawing on reserves, which is a
challenging situation that cannot be continued indefinitely. However, it is hoped that with the
planned reduction in the diocesan share, following a transition to a new formula in how it is
calculated, the situation may ease.
Structure, Governance and Management
The Local Ministry Area of Aberystwyth Parochial Church Council is constituted under the
constitution of The Church in Wales and abides by their regulations.
The structure of the Council is that each of the five churches elects its own Church Committee on an
annual basis at their individua l Easter Vestries. The election of each member is normally for a period
of three years. Some of those members are then appointed as Trustees to serve on the LMA Council.
Our Vicars, Curate, Ministry Area Wardens and Church Wardens are ex-off icio members of the LMA
Council. The appointed secretary and treasurer, as well as other lay people and licensed readers, are
co-opted to the LMA Council and a lay chair is elected.
The trustees Imembers of the Local Ministry Area Council) are chosen for their experience, talents
and contribution to the life of their respective churches. Trustees are directed to the Charity
Commission booklet 'The Essential Trustee What you need to know, for details of their
responsibilities, as well as being invited to attend training. The trustees, sitting as the Ministry Area
Council, hold a meeting at least quarterly, to receive 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 sanction of the Local Ministry Area Council
are put to the meeting and are passed only if there is unanimity.
Decision-making authority rests with the Clergy, the LMA Council, the LMA Wardens and LMA
Treasurer, although responsibility for many local church matters is delegated to the team vicars,
church committees, sub-wardens and church treasurers. The level of devolvement IS specified in the
Standing Orders for the Ministry Area. Lay staff and volunta ry leaders have responsibility within their
own areas of ministry for routine activities, as well as management of delegated budgets.
It is the responsibility of the Clergy 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 mission of the Church, pastoral,
evangelistic, social and ecumenical in the LMA.
The trustees are responsible for preparing a trustees, annual report and financial statements in
accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom
Generally Accepted Accounting Practice).
The LMA Council are required under the Charities Act 2011 and the Constitution of the Church in
Wales to prepare financial statements for each year which 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. I n prepa ring the financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the applicable Charities SORP.
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material
departures that must be disclosed and explained in the financial statements.

prepare the financial statements on the going concern basis, unless it is inappropriate to
presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and to enable them to ensure that the
financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and
Reports) Regulations, and the Church in Wales. constitution. They are also responsible for
safeguarding the assets of the charity and taking reasonable steps for the prevention and detection
of fra ud and other irregularities.
In addition to the Ministry Area Treasurer, each church appoints a Treasurer to keep the necessary
financial records. St. Michael's Church also employs a Finance Co-ordinator to carry out this task.
The trustees are responsible for the maintenance and integrity of the charity and financial
information included on the charity's website in accordance with legislation in the United Kingdom
governing the preparation and dissemination of financial statements.
Clergy are paid by the Church in Wales and remuneration is set by them. All other officers and
trustees give their time voluntarily without payment. Lay staff rates of pay are set bearing in mind
local rates of pay and statutory minimums, with a desire to be as generous as our limited finances
will allow.
A5 part of the Diocese of St Davids within 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
projects. Additionally, the LMA has developed strong links locally, and works with other church
denominations in the area in a number of different ministry area5.
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 details
The Trustees are the members of the Aberystwyth Ministry Area Council. Changes in the membership
of the Aberystwyth Ministry Area Council are generally made at the annual LMA Easter Vestry
meeting/AGM, held last year on 29 April 2024, Changes made during 2024 are indicated.
Title
Name
Status
Appointed
or Retired
in 2024
Title
Nome
StotUS
Appointed
or Retired in
2024
Rev
Mark
Peter
Ansell
Bunting
Clissold
Davies
Davies
Davies
Dye
Cleric
Ex-officio
Co-opted
Ex-off icio
Ex-off icio
Ex officio
Ex-officio
Ex Officio
Cleric
Elected
Ex off icio
Ex-officio
Elected
Prof
Mrs
Mrs
Mrs
Mrs
Rev
Rev Dr
Mr5
Dr
Mrs
Mrs
Rev Dr
Jamie
Avri I
Diane
Mary
Sally
Cei
Liz
Mandy
Andrew
Lorena
Enid
Robert
Tudor
Medhurst
Morris
Morri5
Platt
Price
Rees
Rees
Rowe
Starr
Troughton
Welsh
Wil kinson
Wynn-
Williams
Elected
Elected
Elected
Ex officio
Elected
Cleric
Cleric
Elected
Ex officio
Ex Officio
Ex officio
Cleric
Ex-off icio
Dr
Mr
Miss
Andrew
Hannah
Robert
Malcolm
Rola r)t
Becky
Andrew
Sue
Ann
Ewan
Retired
Retired
Retired
Mr
Rev
Prof
Mrs
Mrs
Dr
Appointed
Evans
Henley
Henley
Jones
Lawry
Appointed
Reti red
David
McBride
Ex off icio

Details of other trust-holding assets on behalf of the various churches are given in Notes to the
Accounts No's 18 & 19 below.
Chairperson:
Mrs Sue Henley
Parish Wardens..
Dr Jamie Medhurst & Mrs Lorena Troughton
Parish Treasurer:
Mrs Gill Clissold
Principal Banker:
WN8 6WT
The Cooperative Bank, P.0. Box 250, Delf House, Southway Skelmersdale
Solicitor-
Alun Thomas & John, Crynfryn, Ea5tgate, Aberystwyth. Ceredigion, SY23 2AR
Accountant:
7HD
LHP Chartered Certified Accountants, Ty Harford, Sgwar Harford, Lampeter SA48
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 and applying for appropriate grant funding,
to fund not only remedial building work but also improvements to our remaining buildings to make
them more flexible spaces for our future needs.
Report for 2024 approved by the LMA Council and signed on its behalf by the chairperson:

Statement of Financlal Activities for the year ending 31 December 2024
2024
2024
2024
2024
2023
Note Unrestricted
Restricted
Endowments
Total
Total
Income
Donations & Legacies
Charita ble Activities
Money Raising
318.023
11,197
67,632
6,405
385,655
17,602
367,003
27,991
12,143
37,707
5,642
7,726
392,438
78
23,856
660
12,221
61,563
6,479
7,726
491,246
2,029
64,997
3,880
132,406
598,306
Property income
Investment income
Other income
Total Income
177
98,631
177
Expendlture
Cost of money raising
Mission & Grants
1,542
45,788
23
1,565
61,421
2,224
66,725
15,633
10
Support for ministry
Charita ble activities
Parish activities..
Church services
General parish expenses
Church property:
Maintenance of church
Maintenance of other property
Total expenditure
252,606
31,209
252,606
31,209
265,188
16,905
11
12
13,850
94,365
292
878
14,142
95,243
21,746
78,935
13
14
53,518
27,583
520,461
499
52,272
69,597
54,017
79,855
590,058
74,869
119,794
646,386
Net movement In funds before gains
and105ses on investments
1128,0231
29,034
177
198,812}
148,0801
15
Galns/{losses) on investments
2,916
2,916
3,002
Transfers between funds
21,945
118,208)
{3,7371
Net movement in funds
1106,0781
10,826
16441
195,8961
{45,078}
Total funds brought forward
641,507
119,965
56,811
818,283
863,361
Total funds carried forward
535,429
130,791
56,167
722,387
818,283

Balance Sheet
as at 31 December 2024
Unrestrirted
Funds
Restricted
Funds
Endowment
Funds
Total
Funds
Prior
Year
Note
Fixed Assets
Ta ngible fixed assets
Investments
17
328,497
328,497
56,167
341,288
56,811
18
56,167
Current Assets
Stocks
Debtors
Cash at bank and in hand
3,247
42,319
285,934
331,500
3,247
42,319
416,725
462,291
3,832
35.556
508,120
547,508
19
130,791
130,791
Liabilities
Creditors . amounts falli ng due
within one year
20
1112,058}
1112,0581
1111,0771
Net Current assets
219,442
130,791
350,233
436,431
Total Assets less current liabilities
547,939
130,791
56,167
734,897
834,530
Creditors: amounts falling due after
more than one year
21
112,5101
112,510}
116,2471
535,429
130,791
56,167
722,387
818,283
the funds of the charity:
Endowment funds
Restricted funds
Unrestricted funds
Designated funds
Property fund
General fund
56,167
56,167
130,791
56,811
119,965
24
25
130,791
23,236
410,757
101,436
23,236
410,757
101,436
535,429
722,387
109,837
410,757
120,913
641,507
818,283
535,429
130,791
56,167
Approved by the Local Ministry Area Council on
and signed on their behalf by:_
Revd Canon M Ansell
Local Ministry Area Dean and Trustee

Statement of Cash Flows for the year ending 31 December 2024
Note
2024
2023
Net cash generated by/(used in} operating activities
(97,376)
(204.144)
Cash flows from investing activities
Interest
Purchase of tangible fixed asset5
Proceeds from sale of investments
Net cash generated by/(used in) investing activities
5,982
3,880
3.737
9,719
209,776
213,656
Cash flow from financing activities
Repayment of borrowing
Cash used in financing activities
{3,7381
{3,738)
{3,7961
(3,796)
Increase/ldecreasel in cash and cash equivalents
in the year
19 1,3951
5,716
Cash and cash equivalents at the beginning of the year
508,120
502,404
Cash and cash equlvalents at the end of the year
416,725
508,120

Notes to the Accounts
for the year ended 31 December 2024
Accounting Policies
Basis of preparation of accounts
The accounts are prepared in accordance with Accounting and Reporting by Charities-
Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK {FRS 102) -
{Charities SORP IFRS 1021}, and the Church in Wales Accounting Regulations.
The parish constitutes a public benef it entity as defined by FRS 102.
Income
Al l 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 receivable can be measured
reliablv.
Income from the government and other grants, whether capital grants or revenue grants,
is recognised when the charity has entitlement to the funds, any performance conditions
attached to the grant5 have been met, it is probable that the income will be received and
the amount can be measured reliably and is not deferred. Rental income received in advance
of the period to which it relates is credited to other creditors. I ncome 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 estate has communicated the amourit and
settlement date. In the event that the gift is in the form of an asset other than cash,
recognition is subject to the va lue of the gift being reliably measurable with a degree of
accuracy. Gifts in kind received for the food bank are not included in the accounts as it is
impractical to estimate their value.
Expendlture
Lia bilities 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 payments made to third parties in the
f urtherance of the charitable objects of the parish.
10

Notes to the Accounts
for the year ended 31 December 2024 continued
Accounting Policies continued
Tangible fixed assets and depreciation
Ta ngible fixed assets are stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost of fixed assets, less their estimated residual value, by
equal annual instalments over their expected useful lives as follows..
Fixtures, Fittings and Equipment
4 to 20years
Land
NIL
Buildings
50 years
Items are capitalised if they exceed £500 at cost.
Expenditure on improvements to the church building are charged to outgoing resources.
Investment properties are included in the balance sheet at their current market value. No
depreciation has 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 within ta ngible fixed assets.
Investments
Investments are a form of basic financia l instrument a nd are stated at their fa ir value as at
the balance sheet date. Rea li5ed and unrealised gains and losses are included in the
Statement of Financial Activities. 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 activities that further a ny of the purposes of
the church. Designated funds are unrestricted funds which the church committee decides
at their discretion to set aside for a specific purpose. Restricted funds 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 funds for church activities
Certain church activities such as youth groups manage their own funds. Income generated by
these activities is credited to the desigr)ated fund and released a5 expenditure is i ncurred,
unless already to a restricted fund as described in note 1.3.
li

Statement of Financial Activities- previous year
Note Unrestricted
Restricted
Endowments
Total
Income
Donations & Legacies
Cha rita ble Activities
Money Raising
Property income
Investment income
Other income
292,492
25,568
1,954
41,134
3,133
132,406
496,687
74,511
2,423
75
367,003
27,991
2,029
64,997
3,880
132,406
598.306
23,863
747
Total Income
101,619
Expenditure
Cost of money raising
Mission & Grants
Support for ministry
Charita ble activities
Parish activities:
Church services
General parish expenses
Church propertv:
Maintenance of church
Maintenance of other propertv
Total expendlture
2,172
49,615
265,188
16,905
52
17,110
2,224
66,725
265,188
16,905
10
li
21,646
78,703
100
232
21,746
78,935
12
13
14
74,841
21,819
530,889
28
97,975
115,497
74,869
119,794
646,386
Net movement in funds before gains
and losses on investments
{34,2021
113,8781
148,080)
Gains/(losses) on investments
15
3,002
3,002
Transfers between funds
13,638
113,6381
Net movement In funds
120,5641
{27,516}
3,002
145,0781
Total funds brought forward
662,071
147,481
53,809
863,361
Total funds carried forward
641,507
119,965
56,811
818,283
12

Donations and legacies
2024
2023
Regular Col lections
Donations from St Michael's Car Park Ltd
Legacies
Specia I collections and donations
Gift Aid refund
Grants
Other
240,772
56,386
245,589
55,500
io
306
41,401
47,086
43,239
22,369
385,655
367,003
Grants received in the current year included:
£4,998 for Apprentice Fund by St Michael's Church;
£31,014 for the Well Fund by St Michael's Church,.
£80 for Youth Word Fund by St Michael's Church;
£1,867 for Listed Places of Worship scheme by St Michael's Church,.
£1,000 for Mature Munch Fund by St Michael's Church;
£3,029 for Jubilee Storehouse by St Anne's Church;
£1,078 for Jubilee Storehouse Capital Fund by St Anne's Church
£100 for Lego Church Fund for St Anne's Church,.
£2,121 for Café fund for St Anne's Church;
£899 for Bio Diversity Fund for St Llanwchaiarn;
£900 for Trauma Informed Churches course in Central Fund.
All the activities in the parish rely on the involvement of the church members, in accordance
with FRS 102 and the Charities SORP IFRS 1021, the economic contribution of volunteers is
not recognised in the accounts.
13

Notes to the Accounts
for the year ended 31 December 2024 continued
Income from charitable activities
2024
2023
Church functions
Other
Total mission
8,111
9,491
17,602
11,568
16,423
27,991
Income from money raising
Bookshop
Hall hire
Other
Total support for ministry
982
1,964
10,343
896
65
12,221
2,029
Property income
Car park lease
Other property rent
6,000
55,563
61,563
6,000
58,997
64,997
Other income
M iscellaneous
Insurance income
Surplus on disposal of propertv
286
7,440
190
132,216
132,406
7,726
Cost of money raising
Bookshop
Bank charges
Hall fee
908
562
1,400
799
25
95
1,565
2,224
14

Notes to the Accounts
for the year ended 31 December 2024 continued
Mission and Grants
2024
2023
In the parish
Outside the parish
54,625
6,796
61,421
52,541
14,184
66,725
M ission costs above include giving in support of individuals, missionaries, mission agencies,
and relief and development agencies.
Many charities were supported, such as The Nazareth Trust, European Christian, Compassion
UK, Christian Aid, RBL Poppy Appeal, Children's Nest and Tearfund.
10
Support for ministry
Diocesan ministry share
Staff costs
Parochial expenses of clergy
239,779
6,354
6,473
253,164
6,381
5,643
252,606
265,188
li
Church servlces
Service books and materials
Subscri ptions
Organists
Music and instruments
Utilities
Visiting speakers
Other
Total maintenance of church
1,260
1,843
2,169
3,506
4C(s
2,306
11,898
2,718
4,964
14,142
4,824
21,746
15

Notes to the Accounts
for the year ended 31 December 2023 continued
12
General parish expenses
2024
2023
Staff costs
MA/LMA central costs
PA'S allowance
Training and Conferences
Bank charges
Postage, stationery, etc
Publications
Telephone
Utilities
Equipment renewals and maintenance
Giving
Legal and professional
Management fees
Subscriptions
Queen street mortgage interest
M iscellaneous
Depreciation of assets
49,505
10,210
1,040
935
40,020
9,993
1,040
646
3,367
57
2,896
38
2,129
2,562
2,399
4,420
161
49
7,705
3,370
725
222
10,235
3,254
1,298
811
9,191
95,243
1,335
309
4,253
78,935
13
Maintenance of churches
Utilities
Major repairs and improvements:
Depreciation
Other
Other repairs and maintenance
Verger's salary
Telephone
29,136
31,727
3,600
1,383
18,939
404
3,467
2,935
24,880
11,310
550
555
54,017
74,869
14
Maintenance of other property
Utilities
Repairs, renewals & maintenance
Management fees
Churchyard maintenance
Other
16,271
56,733
1,298
2,578
2,975
79,855
17,293
97,777
1,170
1,632
1,922
119,794
16

Notes to the Accounts
for the year ended 31 December 2023 continued
15
Gains/(losses) on investments
Unrealised gains/llosses) on revaluation
2,916
2,916
3,002
3,002
Realised gainslllosses) on investments
177
177
16
Staff costs
2024
2023
Staff costs paid by the parish
Wages & Salaries
Nationa l insurance costs
107,730
1,392
109,122
93,460
447
93,907
No employees received employee benefits of more than £60,00012023'. £60,000)
The average monthly number of employees was 912023: 71
17

Notes to the Accounts
for the year ended 31 December 2024 continued
17
Tangible fixed assets
Investment
Property
Property Equlpment
Total
Cost/Market value
Balance as at l January 2024
Additions
Disposals
Balance at 31 December 2024.. Market
value
150,000
197,237
181,828
529,065
150,000
150,000
Cost
197,237
181,828
379,065
Depreciation
Balance as at l January 2024
Charge for year
On disposals
Balance at 31 December 2024
Net book value
As at 310ecember 2024
As at 31 December 2023
37,730
2,344
150,047
10,447
187,777
12,791
40,074
160,494
200,568
150,000
150,000
157,163
159,507
21,334
31,781
328,497
341,288
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's and All Angels Property Trust
Plas yr Afon flat- executors to the estate of Revd Walters
18

Notes to the Accounts
for the year ended 31 December 2024 continued
17
Tangible Fixed Assets continued
The property at 5 Queen Street, of net book value £157,16312023.. £159,506), is mortgaged
as security for the bank loan of £16,710 {2023: £20,543) included in creditors.
Further tangible fixed assets used by the church but not included in the accounts:
The Church building of St Michael's, Holy Trinity, St Anne's, St Mary's, and St Llwchaiarn, their
contents and the churchyards are vested in the Representative Body of the Church in Wales
and do not form 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 Ysgoldy Figure Four, Lla nfarian are held in trust for the Parish by
the Representative Body of the Church in Wales
The following are held in trust for the Parish by the Diocesan Board of Finance..
Buarth Church Hall
Holy Trinity Church Cottages
18
Fixed assets: Investments
Disposal Revaluatio
Balance
011011202
Balance
311121202
2024
2024
Investments held by the Church in
Wales:
Bequests in the common investment
fund
56,811
13,5601
2,916
56,167
19
Debtors
2024
2023
Other debtors
Prepayments and accrued income
24,100
18,219
42,319
15,055
20,501
35,556
20
Creditors: Amounts falling due within one year
2024
2023
Loans and overdrafts
Trade creditors
Other creditors
Accruals and deferred income
69,2C(¢
18.967
15,932
7,959
112,058
69,296
15,319
17,010
9,452
111,077
Included in loans and overdrafts above is £4,20012023: £4,296) of a bank mortgage secured
on 5 Queen Street.
Other unsecured loans of £65,00012023: £65,000) included in loans and overdrafts are
repayable 6 months after demand. No interest is payable on these loans. However, on
repayment of any of these loans, the loan is linked to the Land Registry Index for Ceredigion.
19

Notes to the Accounts
for the year ended 31 December 2024 continued
21
Creditors: Amounts falling due after more than one year
Bank loan
12,510
12.510
16,247
16,247
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 £1,298 12023.. £1,335).
22
Operating leases- as lessor
At 31 December 2024 the total future minimum lease payments for property leases were:
2024
2023
20,997
83,988
27,996
132,981
Not later than one year
later than one year and not later than 5 years
laterthan 5 years
20,997
83,988
6,999
111,984
23
Capltal commltments
The church had not entered into any contracts for building works, other than repairs.
20

Notes to the Accounts
for the year ended 31 December 2024 continued
24
Restricted funds
Balance
Incoming Outgoing Transfers
2024
2024
2024
Balance
0110112024
3111212024
St Michael's
Holy Trinitv
St Anne's
St Mary's
St Llanwchaiarn
64,355
42,486 120,517} 120,855}
241
12411
49,787 (47,7341 11,0001
{341
11.071)
65,469
53,959
1,117
534
55,012
1,083
9,227
6,117
3,647
119,965
98,631 169,597) 118,208)
130,791
Restricted funds for each church comprise of..
l. Grants and giving funds raised for specific purposes within the parish or on behalf of
others.
2. Bequests 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. Activities funds which support the activities of the churches within the parish,
21

Notes to the Accounts
for the year ended 31 December 2024 continued
25
Unrestricted funds
Balance
Incoming Outgoing Transfers
2024
2024
2024
Balance
0110112024
3111212024
Designated funds
St Michael's
Holy Trinitv
St Anne's
St Llanwchaiarn
105,039
1272)
4,383
687
109,837
410,757
120,913 365,386 1491,815)
641,507
392,438
1520,461)
7,196
12,786
7,070
{9.665I 183,507)
{9.5061
{9,4751 11,500)
19,063
3,008
478
687
27,052
128,6461 185,0071
23,236
410,757
101,436
535,429
St Michael's property fund
General Funds
106,952
21,945
The St Michael's property fund is the value of unrestricted funds represented by property, less the
loans used to fund their acquisition.
22

Notes to the Accounts
for the year ended 31 December 2024 continued
26
Related party transactions 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 provided by the diocese. They receive no remuneration or other benefits of
employment from the parish.
No other members of the PCC received any remuneration or other benefits 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 £56,38612023.' £55,500),
rental income of £6,00012023- 6,0001, and charges of £6,12012023.' £6,120) from St
Michael's Car Park Limited. The amount due from St Michael's Car Park Limited as at
31/1212024 was £6,88612023: £7,300).
All the trustees are also members of the church, who give to the churches as part of the
congregation. Identifying the tota I financial giving of the trustees as a group would be an
onerous task and therefore has not been done.
27
Reconciliation of net movement in funds
2024
195,896)
12,791
2023
Net movement in funds
Add back depreciation
Deduct disposal of asset
Deduct disposal of investment
Deduct Interest income
Deduct gains/ add back losses on investments
Decrease/lincreasel in stock
Decrease/lincreasel in debtors
Increase/ldecrease} in creditors
{45,078}
7,720
1132,2161
{177)
15,982)
12,9161
585
16,7621
981
13,8801
13,0021
12391
15,9701
121,479)
1204,1441
197,376}
23

Independent examinerfs report to the Trustees of the Porish of Aberystwyth Parochial
Church Council (Continued)
I have no concerns and have come acr055 no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Signed:
Name: Mr O R Jones
The Association of Chartered Certified
Accountants
Ty Harford
Sgwar Harford
Lampeter
Ceredigion
SA48 7HD
Date..
24