**THE CHURCH IN WALES YR EGLWYS YNG NGHYMRU** ## **Annual Vestry Report For year ended 31[st] December 2023** ## _**Ministry Area Penybont ar Ogwr**_ _**‘**_ **Registered Charity – 1135927** |Introduction|1| |---|---| |Annual Vestry Report by the Ministry Area Leader|1| |Annual Vestry Report by the Ministry Area Lay Chair|3| |Annual Vestry Meeting 2022 Minutes|4| |Description of the Ministry Area|6| |Objectives|6| |Administrative Information|7| |Members of the Ministry Area Council for 2023/2024|7| |Organisation of Ministry Area Council|8| |Bank of Treasurers|8| |Heritage Committee|8| |Electoral Roll|8| |Sunday Services|8| |Diocesan Conference Report|9| |Local Church Reports|10| |Financial Report|13| # **Ministry Area Council Report For the year ended December 31[st] 2023** ## **Introduction** The new Ministry Area Penybont ar Ogwr was formed and licensed from January 2022 .This is the second Annual report of the Ministry Area. ## **Annual Vestry Report by the Ministry Area Leader** Re-reading last year’s end of year report, I’m a little disappointed that there isn’t very much to report that’s different. Unfortunately, the situation in the Church in Wales (if not across the whole of the Church in the UK) hasn’t changed and we’re still facing a decline in both church attendance and in vocations to the priesthood. Furthermore, many priests are retiring early, me included. You have all been absolutely wonderful in your acceptance of the management of the situation, although I’m sure that you would far rather there were three priests, associate priests and a curate, as in the past. Those days are well and truly gone. What is fantastic is that the Revd. Roger has joined the team and the Revd. Mark Broadway is soon to take up the reins as Ministry Area Leader. Please give them as much support as you’ve always given me. Our local retired clergy, Canon Edward Evans, Canon Graham Holcombe and the Revd. Mike Lewis have continued to offer support and cover wherever it’s been needed and Canon Tim Jones is a monthly regular. Furthermore, the Licensed Lay Ministers, Pete Craven, Penny Williams and Val Turner, plus the local lay teams, have kept everything ticking over on the alternate weeks so that there is always a service in every church every Sunday. Of course, there are no promises that this will continue in the future. This year has also seen the loss of significant members of our congregations. We miss them all and the contribution they made to the life of the MA. Finances have dominated the year, or, it would be more correct to say, lack of finances has dominated the year. The MA is truly fortunate to have such a gifted Treasurer in Sandra Arnott (indeed there is a wonderful team of treasurers serving all the churches), and without her thriftiness and clarity of thought, our financial position would be hopeless. Sandra will give a full account of the finances, but I mention here that we are struggling. Although since the pandemic our congregations have maintained their new ‘normal’ levels of attendance, the MA receives far, far less in offerings each week than the £11.55 per person which would cover our costs. Like our own domestic bills, utilities are crippling us, along with high insurance costs on all of our buildings. I’d urge you to reconsider your giving as a matter of urgency. Please be as generous as you possibly can. Unusually, and with the agreement of + Mary, the MA was able to advertise the post of MA Leader whilst I was still with you. This meant that I was involved in the process of writing the profile. It was thrilling to read each church’s statement of mission and there’s plenty of evidence that the congregations are playing their part in realising those statements. Coity and Nolton churches continue to support the local Food Bank and both churches are the focus for many larger community events such as weddings, funerals, baptisms and other occasional services. All Saints has again received funding to offer Warm Spaces through the winter. Friendships with non-church attenders are strengthening and the locals are ‘owning’ their church. St Crallo’s has opted for a gentle approach with members offering their homes for afternoon teas and other fundraising events. Similarly, St Illtyd’s have opened the church for various lunches and suppers when there’s been anything at all to celebrate! St Teilo’s continues in its ministry to visitors with new ideas for attracting interest, with the Remembrance display being particularly well-attended. St David’s has held various successful social events and hosted the Mothers’ Union Advent service and World Day of Prayer service. Brackla has built on the good foundations left by the diocesan mission enablers, and now runs a monthly ‘Messy Coffee’ in the school. Open the Book 1 has had a good year and in addition to sessions in Archdeacon John Lewis Primary School and Aberkenfig Primary School, a strong and lasting friendship has developed through the engagement of the team at Penyfai Primary School. These and many other community schools are using our churches for services through the year and for educational sessions. Now that the MA has an events calendar thanks to Mandy Buckley of St Teilo’s, it will be easier to support one another in whatever way you can, whether as an organiser, helper or attender. Forest Church has continued to meet throughout the year but has been thwarted more often than not by poor weather. We’ve learnt that it’s better to meet at one of our churches and hope for the best for the ‘service’ to be outside. This has meant that our activity, thanks to Philippa Coulson, our MA eco lead, has often been done inside and our displays left in the church porches as a ‘Forest Church was here’ mark. Every meeting has had its profound moments of sharing and often new people join us or ask what we’re doing and then share a memory of the past with us. Hopefully this year will be a drier one and once again those who attend will be able to fully enjoy and appreciate the glories of God’s Creation all around us in this especially attractive part of the country. The local representatives and office holders will give their own reports to supplement this and I take this opportunity to thank all those who are standing down from the MAC for giving their time, skill and experience in the service of the MA. For those continuing in their roles and for new members, thank you for your commitment and your ministries. The MA has experienced mixed fortunes this year, but it still needs to look to God for its direction and purpose. You have heard me quote this before, but it still holds true and I leave it with you…. ‘Now to him who by the power at work within us is able to accomplish abundantly far more than all we can ask or imagine, to him be glory in the church and in Christ Jesus to all generations, for ever and ever. Amen.’(Ephesians 3. 20-21) The Revd. Maggie Thorne MA Leader until 31st March, 2024 2 ## **Annual Vestry Report by the Ministry Area Lay Chair** A largely successful year with significant developments to report. The combined services proved to be increasingly popular with a congregation of 152 at its best. Also of note were the number of events organised by our various member churches. These were varied in nature from Eucharist services to charity events but all were increasingly well supported. The use of our social media sites in advertising and general communication seems to have played a part in this. Perhaps the most significant development is the creation and use of the Ministry Area diary. Thanks to Mrs Buckley for her efforts in developing the system and thanks to everyone who worked so hard in this field of communication. The diary is all already showing signs of its true value. There were one or two notable social events held during the year which again were well supported. Chiefly of course, there was a party to celebrate the King’s coronation. We thanked Councillor Tim Wood, Mayor of Bridgend, for planting a commemorative tree in the church grounds at St. Mary’s Nolton. As part of the overall development of the Ministry Area, several policy statements of importance were created. Chiefly, a Safeguarding policy was introduced during the year with all Ministry Area Council members having the opportunity to undergo safeguarding training so that now the significant majority of members hold a D.B.S.certificate. The training was either online or in person and very well attended. Thanks to Helen Harrison for leading the way. Perhaps of equal importance was the development of an Employment policy. This was achieved over several months of discussion, sometimes a little controversial but always well intended. The final document is thorough, legal and practical. Well done and thank you to all concerned in this work. As with all organisations, the year saw some change of personnel. Rev. Maggie announced her retirement and the quest for a replacement began while Rev. Roger was appointed as priest to the Ministry Area. A welcome return to our Area by Rev. Roger as many will remember his first stint here (or the Parish as was). Several council members retired during the year and we thank them all for their efforts, especially in the early years. Equally, we thank the incoming replacements for taking on the role of Ministry Area Council member. It should be noted that there are still a few gaps in the appointments to various posts. December 31st saw the end of my term in office as Lay Chair. A memorable and, I hope, a productive three years. Now we look forward to the next three years with Jenny in the Chair, and I welcome her wholeheartedly. Thanks to everyone for the support afforded to me during my term Andrew Dix Lay chair (retired.) 3 ## **Annual Vestry Meeting 2022 Minutes** Annual Vestry Meeting 2023 Minutes of meeting held on Sunday 30th April 2023 Following Joint Ministry Area service starting at 10:00 At Nolton Church Apologies: Rev David Lloyd, Barrie Williams, Gloria Williams, Tricia Davidson, Karen Phillips, Bishop David Yeomans, Janice Yeomans, Alison Craven The meeting was opened with prayer and Introduction by Vicar, Rev Maggie Thorne with a short reading from gospel according to St Luke 1. Chairman’s Introduction. Andrew Dix (Lay Chair) thanked all MAC members for their work including those who had left service during the year. Thanks to Gaynor Coles who is standing down as a Ministry Area Warden. Worship has continued with the help of lay readers and retired clergy under difficult circumstances which Rev Maggie has managed very well. Finances have proved difficult to manage but Ministry Area continues to develop. 2. Annual Reports and Accounts Rev Maggie Thorne delivered her report on our first year as a Ministry Area. The report had been circulated to all members. Allie Rogers was thanked for all her hard work as MA administrator Sandra Arnott (treasurer) presented financial report as distributed. Enquiries and valuations on assets are being completed before final accounts can be finalised and audited. It was confirmed that Fairer Share is under review currently. Full accounts will be available when RB and accountants have finalised details. Sandra was thanked for all her fantastic work on MA finances so far. The meeting agreed to accept Annual Report as published with audited accounts to be added when available 3. Election of Ministry Area Council Members - Lay chair is appointed by Bishop until the end of 2023, other members of MAC are reappointed/ elected at AVM The meeting agreed to the proposal to appoint those nominated as MAC representatives as published below Deputy Lay Chair, Penny Williams Treasurer, Sandra Arnott Secretary, Stuart Davidson Warden to MA, Hollie Evans Warden to MA, Ian Hartley-Brown Eco Church Rep, Philippa Coulson Heritage Secretary, Allan Dowlman Health and Safety Officer, Paul Smith Nolton Representative, Andrew Dix Coity Representative, Stuart Davidson Brackla Representative, Gaynor Coles Newcastle Representative, Hilary Markwell Coychurch Representative, Rachel Gauci 4 ## Laleston Representative, Menna David ## Pen-y-fai Representative, Penny Williams Merthyr Mawr Representative, Simon Buckley Safe guarding Officer, Helen Harrison Diocesan Conference Representative – Ian Hibble Clergy team and Lay readers are also members of Ministry Area Council 4. Appointment of Independent Auditor. It was proposed that Andrew Lee of Graham Paul Accountants of accounts be appointed as Independent Auditor of Accounts for 2023. Andrew has extensive experience of working with Ministry Area accounts. This appointment was agreed. Auditing MA accounts will be at a cost but there are Diocese Grants available to help with this. 5. Ian Hibble presented his Diocesan Conference Report which had been circulated and also the Annual deanery Conference report form Rev Ian Hodges. Ian also reported that MA would not have to pay Deanery subs this year. 6. AOB –. Adrian Kendall asked about the caretaker position at Nolton Hall he had recommended a person for this part time role and had concerns over the termination of the position. Andrew Dix explained it was a procedural issue while MAC ensured it was following correct employment procedures. Engagement of caretaker was under way. A HR subcommittee will determine procedures for engagements going forward. 7. First meeting of new Ministry Area Council will be held on Tues 20[th] June at 19 30 in Nolton Hall 8. The meeting was declared Closed with prayers by Rev Maggie Thorne at 12:25. 5 ## **Description of the Ministry Area** The Ministry Area Penybont ar Ogwr was created at the beginning of 2022 comprising the old Parishes of Coity. Nolton & Brackla, Coychurch, Newcastle, Laleston with Merthyr Mawr and Penyfai It is part of the Deanery of Bridgend, which is within the Diocese of Llandaff and the Province of the Church in Wales. The Ministry Area is a Registered Charity – Charity Commission number 1135927. Rev Maggie Thorne was appointed as Ministry Area Leader and Andrew Dix as Lay Chair of the Ministry Area Council ## **Dedication of Churches** There are 8 churches in the Ministry area In the Village of Coity the Church is dedicated to St. Mary the Virgin. Very close to Bridgend Town Centre in the area of the Town known as Nolton the Church is also dedicated to St. Mary Within the Archdeacon John Lewis Church in Wales Voluntary Aided Primary School, on the Brackla Estate is a Church, also dedicated to St. Mary Overlooking Bridgend Town Centre and on the edge of Cefn Glas Estate the Church is dedicated to St Illtyd In the village of Coychurch the church is dedicated to St Crallo In the village of Laleston the church is dedicated to St David In the village of Merthyr Mawr the church is dedicated to St Teilo In the village of Pen-y-fai the church is dedicated to All Saints ## **Objectives** The Church in Wales is a Province within the Anglican Communion and as such has the task of advancing the Christian Religion, through worldwide Mission. The Ministry Area Council (MAC) is required to ensure that the life and work of the churches within their area is fulfilled both locally and further afield. The MAC is not a body corporate. Its composition, procedures and powers are set out and regulated by the Constitution of the Church in Wales. This is amended from time to time to keep pace with changing times. It is set up under Section 3(1) of the Welsh Churches Acts of 1914. Elections to serve on the Ministry Area Council take place at the Annual Vestry Meeting. The Representative Body of the Church in Wales holds lands and property, which includes the churches, their contents and churchyards. It also acts on behalf of the Province for paying stipends to full time clergy. The MAC is responsible for promoting the mission of the Church, the parochial budget, all expenditure, the care and maintenance of church fabric and churchyards and also for acting on any matter referred to in the Constitution. The Council is the normal channel of communication between lay members and the Bishop of the Diocese. With regard to the Charity Commission’s guidance on public benefit and the advancement of religion, we try to enable people in our communities to live out their faith as part of our Ministry Area through: worship and prayer; learning about the Gospel, and developing their knowledge, faith and trust in Jesus; providing pastoral care for the people of the Ministry Area; and engaging in missionary and outreach work. To facilitate this work we consider it vital that we maintain the fabric of our churches and three church halls. There is also a greater emphasis in managing and protecting the Environment which the Ministry Area has been actively engaged in building eco-friendly policies. 6 ## **Administrative Information** **Ministry Area Leader:** Revd Maggie Thorne, (until March 31[st] 2024) The Rectory, Merthyr Mawr Road North, Bridgend CF31 3NH **Ministerial Team** Revd David Lloyd **(retired August 2023)** Rev Roger Pitman (from July 2023) Lay Readers –Mrs C Judd (until August 2023), Mr P Craven, Mrs Penny Williams, Mrs Val Turner **Independent Examiner** Andrew Lee (Graham Paul Accountants **Bankers** H.S.B.C. Bank Plc, 13 Dunraven Place, Bridgend **Professional Advisers** Davies Sutton Architects: Penhevad Studios, Penhevad Street, Cardiff, South Glamorgan CF11 7LU ## **Members of the Ministry Area Council for 2023/2024** MA Leader, Rev Maggie Thorne (until end of March 2024) Clergy, Fr. David Lloyd, (until August 2023) Rev Roger Pitman (from July 2023) Lay Minister, Penny Williams, Peter Craven (until May 2024), Val Turner, Chris Judd (until May 2023) MA Lay Chair, Andrew Dix (until Dec 31[st] 2023), Jenny Morgan (from 1/1/2024) Deputy Lay Chair, Penny Williams Treasurer, Sandra Arnott Secretary, Stuart Davidson Warden to MA, Hollie Evans ( until April 30[th] 2024) Warden to MA, Ian Hartley-Brown Eco Church Rep, Philippa Coulson Heritage Secretary, Allan Dowlman (until 30/9/2023) Health and Safety Officer, Paul Smith Safeguarding Officer, Helen Harrison Nolton Representative, Andrew Dix Coity Representative, Stuart Davidson Brackla Representative, Gaynor Coles Newcastle Representative, Hilary Markwell Coychurch Representative, Rachel Gauci Laleston Representative, Menna David (until May 2024) Lesley Davies (from June 2024) Pen-y-fai Representative, Penny Williams Merthyr Mawr Representative, Simon Buckley Diocesan Conference Representative: Ian Hibble (until May 2023) Stephen Jones (from May 2023) 7 ## **Organisation of Ministry Area Council** The Ministry Area Council is organised into sub committees, which carry out the duties and business assigned to it by the parent body. All the deliberations and recommendations of the Sub Committees are brought back to the MAC for ratification and/or authorisation. Membership of the sub committees is decided at the first full meeting of the MAC after the Annual Vestry Meeting, each year. The Ministry Area Leadership team meets to agree Policy and Agenda for MAC meetings . There were 11 full meetings of the MAC held during 2023/2024 and 10 meetings of MALT. ## **Bank of Treasurers** The Committee has been primarily concerned with managing the amalgamation of Finances across the Ministry Area the Treasurer presents a written financial report to the MAC at each meeting. ## **Heritage Committee** The Committee normally meets prior to each MAC meeting. The Committee has a pro-active concern for the fabric of the churches, churchyards, church halls, boundary walls and houses of the clergy. It also considers in detail and prepares budgets for items referred to it by the MAC. Under the guidance of its chairman it also ensures a prompt response to all recommendations resulting from Quinquennial Inspections. Following the resignation of Heritage Secretary (Allan Dowlman) at end of September 2023. Heritage and Fabric matters have had to be led by local church representatives with decisions made by full Mac meeting ## **Electoral Roll** The Electoral Roll for Ministry Area was renewed from January 2022 as the Electoral Roll for the new Ministry Area and will be in effect until 2027. There are currently 230 members enrolled across the Ministry Area ## **Sunday Services** The regular Sunday schedule of services have had to be adapted due to Clergy availability. The timetable of services across the Ministry Area is published each month in the Newsletter and sent to each church to be posted on Notice boards 8 ## **Diocesan Conference Report** - Stephen Jones ( Diocesan Conference representative) I attended the Diocesan Conference last year. I was, unfortunately, the sole representative of the MA as Revd Maggie had another commitment. There were some interesting sessions – more information should be available on the Diocesan website. It was Bishop Mary’s first conference in Llandaff. I took the opportunity to raise with the Bishop and key staff privately and on the floor the stresses that the financial situation impose on MA Treasurers, and the response was that this was understood, and it was an issue that Bishop Mary had sought to address as Archdeacon of Bangor. Among the many intentions was to seek to provide practical support to Treasurers in the form of Book Keeping support – this was a work in progress. It was also revealed that the Fairer Share process would be iterative; a draft budget would be set and then discussions would take place with MA’s about their ability to pay share. In the light of this the budget was to be reviewed. I know Sandra is not sure about some of this, but representatives from the Diocese intend to speak to the MAC. We can follow this up then There were interesting presentations from the Dean and from a Revd Dr Brian Oakley on the subject of poetry, which is something to which Archbishop Rowan attaches great importance. I learnt one poem. (I find this useful as then I can “read” it in my mind or aloud when I am doing something else) It is ludicrous, says reason It is what it is, says love It is calamity, says calculation It is nothing but pain, says fear It is hopeless, says insight It is what it is, says love It is ridiculous, says pride It is foolishness, says caution It is impossible, says experience It is what it is, says love 9 ## **Local Church Reports** **St Mary’s Coity:** It has been a year of further consolidation unfortunately hampered by the loss of several regular members of our congregation. A strong congregation with regular church choir has grown over the year and Sue Hawthorne continues to lead the Sunday Club which meets weekly throughout the year to bring the next generation into our church community. Mike Hawthorne has led the services when clergy are not available to maintain continuity. Despite the loss of our tower captain Fred Custerson, Bell ringing meets weekly and rings for services on most Sunday mornings and at weddings throughout the year. Flower club meets and decorates the church as we continue to try to Grow God’s Kingdom in our community. A monthly collection for Bridgend Foodbank is well supported. **ST Illtyd’s Newcastle :** ‘There have been challenges along the way uniting different traditions in the churches of our Ministry Area, however continued prayer and commitment from our congregation at St Illtyd’s we have embraced the changes, and continue to support the clergy and enjoy the coming together with the other churches. Together we can look forward in faith, hope and love to continue to work to further God’s kingdom’ **St David’s Laleston** have been busy ensuring everyone has a warm welcome at St. David's church, Laleston. It has been a pleasure to meet new people who have attended Weddings and Baptisms and have now become regular members of our congregation. We will continue welcoming and encouraging the local community, spreading the word of services whether in person or online and inviting them to join us. Moving forward to continue the Fellowship within our Ministry Area and for us to grow in Faith together. ## **St Teilo’s Church, Merthyr Mawr:** During 2023 St Teilo’s benefitted from a more consistent delivery of Sunday services. Although the times of the services varied, a Eucharist or Morning Prayer was offered in the church on most Sundays. A key result of this was that the congregation numbers attending St Teilo’s were maintained. A great deal of effort was expended by a smallish group within St Teilo’s to offer an event within the church almost every month which was open to the wider public. Examples of such events included a Bluebell Festival, Craft and Chat Group, a Folk concert, Christmas Fayre, Pop Up Teas, Poppy and Remembrance Celebration. Whilst these events were financially rewarding and allowed St Teilo’s to make contributions to a number of charities, their true success was in bringing large numbers, old and new friends, into the church. It is our intention to build upon this success and attract more people to our haven of peace, prayer, tranquillity and meditation during 2024. We hope that some of these new friends may also consider returning to St Teilo’s to take part in Sunday services. **All Saints’ Church Penyfai** : Every member of the congregation at All Saints’ is of the belief that the doors should be ‘wide enough to welcome everybody in and narrow enough to keep prejudice out.’ In the past year they have worked together to maintain our beautiful church building; to welcome all who attend services, weddings, funerals and baptisms; to grow, and strengthen, our Sunday Group; to continue and develop, the bell ringing tradition; to decorate the church beautifully; to continue the exceptional ‘Open the Book’ initiative, in the wonderful Bettws Primary School; to continue the extremely well attended ‘Warm Welcome’ lunches; to provide exceptional social events; to work in conjunction with the Penyfai Community Association with regard to whole community events; to continue to work closely with the staff and pupils at Penyfai Primary School and to support charities, the whole community and each other. Our thanks go to all who support us, and our activities, and who have welcomed us into the Ministry Area as we move forward together as a church family in mission and fellowship. 10 **St. Mary’s Nolton** The year ending December 2023 was largely successful. Rev. Maggie was able to produce programmes of worship to meet the needs of all the Churches in the Area. St Mary’s Nolton experienced a slow but noticeable recovery of worshipers with attendance at Lay led services often matching full Eucharist services. The year saw a pleasing number of Baptism events and weddings, joyful events in themselves but even more pleasing when they inspired a small number of worshipers to return to regular worship. Naturally, we experienced an average number of funerals with one or two long serving members departing this life. The year saw the welcome addition of Rev Roger to the clerical team. Many of us remember Roger’s first spell of service with us and are delighted at the return. Following on from Rev. Maggie announcing her retirement plans, arrangements to appoint a replacement were instigated. As part of our regular worship we were able to welcome worshipers from all our Ministry Area Churches to join in joint services .Wonderful (every fifth Sunday) to see so many supporting these joint efforts in a spirit of togetherness. A variety of events were held or hosted in Church during the year. We were especially pleased to welcome pupils from Brynteg School on study visits when members of our congregation were pleased to talk to pupils on a variety of aspects of church life and history. The Kings Coronation was celebrated with a garden party, indoors of course, when Councillor Tim Wood, as Mayor of Bridgend, planted a tree in honour of the king. It seems to be flourishing well. We were pleased to welcome the Baby Loss group for their service of remembrance and the Love light group concert to kick off Christmas celebrations in December. This was closely followed by the Comprehensive school’s annual carol services. Church was packed on both nights The Service of Remembrance was held in November with town dignitaries joining our congregation for this annual national event. The only problem of note this year was a significant leak to the roof on the west side. The problem was identified and repaired effectively by local roofer Stuart Cox. So a busy and full year drew to a close with my last days as Lay Chair to the Ministry Area Council. My three year stint in office ended on 31 st December and we look forward to the next three years under the chairperson ship of Jenny Morgan. Welcome Jenny. Andrew Dix. Lay Chair, 2021 to 2023. **St Mary’s Brackla** continues to flourish and build firm relationships with members of staff, pupils and parents of Archdeacon John Lewis Church in Wales Primary school. A number of events were held to become more visible in the wider community. The Family Fun Day held in August was a great success with displays from local Marching Band, Brass Band and Karate groups. More than 100 people came and enjoyed an afternoon of activities, entertainment and refreshments. Messy Coffee Mornings have been introduced throughout the school year for each age group in turn. Grownups were invited to join their children to make craft items relating to a biblical theme followed by refreshments and fellowship. Members of St Mary’s facilitate these events and inter-generational links have been much appreciated. Open the Book continues to feature regularly in weekly assemblies with volunteers from Brackla and Nolton churches supporting. If anyone would like to get involved please speak with Rev Roger. We arranged ‘Experience ‘events at Harvest and Lent where the school hall was transformed into areas of interactive learning. The whole church was involved in sourcing items for each ‘station’ and our efforts were very much appreciated by staff and pupils alike. We have also introduced a Prayer Space for the whole school to utilise. Funds were received from the ministry area along with donations from church members and friends of. This is the first of its kind in South Wales schools. We continue to support the ministry area football team and look forward to planning joint events in the future. This has all been achieved through the vision, creativity, commitment and fellowship of all the members of St Mary’s, Brackla 11 **St Crallo’s Coychurch:** It has been a busy year in St Crallo’s. We have hosted a few forest church services. The children from the local primary school have come to the church for their Easter and Harvest services. The hundred club has successfully continued with its quarterly draws. Lay members held an afternoon tea and a cheese and wine evening in their homes to raise some vital funds. We held a moving remembrance service which started at the church and concluded around the memorial plaques down at the memorial hall. At Christmas time we welcomed in the WI for their annual lessons and carols service and we also welcomed in villagers along with the wider community for our annual community carol service. We held a Christmas Fayre that was widely attended by the community and it was absolutely lovely to see St Crallo’s packed to the rafters for our much loved Christmas Eve Nativity and Christingle service which is a long standing tradition in the village. Going forward our aspiration is to continue building bonds across the ministry area under its new leadership, not only by reviving our once thriving relationship with Llangrallo/Coychurch primary school, but also by welcoming people from across the ministry area for joint services and reciprocating with visits to our fellow churches in return. 12 ## **Financial Report** A draft Financial report and summary of accounts as of 31[st] December 2023 is available and will be distributed with this report . Audited accounts will be distributed when auditors report is completed 13 CHARITY NUMBER 1135927 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR MINISTRY AREA PENYBONT AR OGWR MINSTRY AREA PENYBONT AR OGWR Accounts 2023 CONTENTS Charity Information Trustee's Report.. Report of the Independent Examiner 10-11 Statement of Financial Activities 12 Balan￿ Sheet Statement of Accounting Policies 14-17 Notes to the Accounts 18-28 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 CHARrrY INFORMATION Charity Name Ministry Area, PenY￿nt Ar Ogwr Registered Charity Number 1135927 Principal Address St Marys Church Hall Merthyr Mawr Road North Nolton Bridgend CF313NH Contact Delails 01656 667690 Charity Trustees Rev M Broadway (appointed 25 Jun& 2024) Rev M Thome (rgswned 31 March 2024) Rev R Pitman (appointed 1 September2023J Rev D Lloyd (retired 31 August 2023) G Coles P Coulson S Davidson ADIX H Harrison (appointed 3 Febmary 2023) P Williams (appointed 3 Febmary 2023) S Buckley (appointed 30 April 2023) H Markwell (appointed 30 April 2023) S Jones (appointed 8 May 2023J V Turner (app￿nted 8 May 2023) J Morgan (appointed 1 January 2024) L Davies (appointed l June 2024) J Lewis (appointed 30 June 2024) A B￿kleY (8pwinled 30 June 2024) P Craven (r8signed 76 May 2023) C Judd (resigned 16 May 2023) l Hibble (appointed 3 Febnjary 2023. resigned 16 May 2023) A Dowlman (resigned 30 September 2023) J Dowlman (resigned 3 February 2023, ¢tropted 6 Apn"12023 and re-appointed fonnally 20 June 2023. resigned 31 October 2023) H Evans (resigned 3 Febmary 2023 ￿appOInted 30 Apnl 2023. ￿SIgned 30 Apiil 2024) M David (appointed 3 February 2023, resigned 31 May 2024) R Gauci (appointed 3 February 2023, t8signed 30 June 2024) P Smith (resNgned 30 June 2024) l Aartley- Brown (resigned 5 September 2024) MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT The trustees have pleasure in presenting their rewrt and financial statements for the Charity for the year ending 31 December 2023. Objectives and Activities The objectives of the Charity are achieved by promoting throughout the Ministry A￿a the whole mission of the Church. pastoral, evangelistsc, social and ecumenical- within our parish. This includes the following." Conducting regular Christian worship including the Holy Eucharist, marriages, fvnerals and baptisms., The provision and maintenance of the fabric of the churches. churchyards and associated buildings for which we are responsible-, The maintenan¢e of Christian bunal pkices.. Promob"ng the study of Christian teaching. practw and Scripture. The provision of means and encouragement to promote lellowship within the membership of the churches and the wider communty", Pastoral eare and visiting Ihe sick & dying- Fostering ecumenical links betsveen diffeiing Christian denominations- Supporting the work of other charities. In preparing this report, the Ministy Area Council have considered the guidance issued by the Charity Commission on public benefit. In each decision made, we have sought lo weigh up the benefit andlor detriment both for those who I￿n us for public worship ￿￿thin our congregations and those resident in our communities. The Ministry Area Council believes that the Church's activrtEs detailed above are the main activities undertaken lo meet the charity's public benefit objectNes and to achieve its overall aim of promoting the Ministry Area and whole mission of the church. The Ministry Area measures success based on the level of actwtties - both religious and social - that il undertakes throughout the year. The Twslees believe that 2023 was a successful year. with a number of a¢livities being undertaken bolh internally and joining with the community, for example local ￿h0o1$. The Area is seeking to expand on this in fvture periods. Monies are raised by freewill offertory, fundraising ￿1VIlle$ and specific appeals These are used lo support the work and administration of the churches and wder mission. Both the Ministry Area, and ils constituent local churches, continue to ath.vely increase attendance and develop mission work in the community. Many of those involved in the main functions of the churches are volunteers_ The Ministry Area is grateful to all of those who freety gNe of thar ts.me on a voluntsry basis. The majority of functions perfomied within the Area, including serving on the Area Council, are performed on a voluntary basis. These include various administrative functions, butalso keeping the Church in a clean and seNiceable stale including limited maintenance, heltmng at service5 and organising events both religious artd social around the service calendar. Without the signthcant numbers of indwiduals from each church giving their lime the activities of the Area would be severety restricted. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT (continu8d Achi•vgments and Performance 11 is disappointing that there isn't very much to report that is different from the prior year. Unfortunately, the situation in the Church in Wales (if not across the whole of the Church in the UK) hasn't changed and we are still facing a decline in both church attendance and in vocations to the priesthood. Further1T￿re, many priests are retiring earfy including our previous MA Leader who retired in March 2024. The Clergy within the MA were wonderful in the aCceptsn￿ of the management situation, athough tt would have been preferable if there were three wiests. associate priests and a curate, as in past, but sadly those days are well and truly gone. Local retired Clergy continued to offer support and cover throjghout 2023 wherever needed and the LI￿nsed Lay Ministers assisted in keeping everything ticking over on the altemale week5 $0 that there was always a service in every Church every Sunday. A ClericiDined the team in August 23 which eased the dire Ciergy situation, and unusually, the MA was able to adverlise the post of MA Leader whilst the current MA Leader was 5ti11 in post which allowed her to be involved in the process of writing the profile. The successful candidate Reverend Mark Broadway took up his post in 2024. Unfortunately the year saw a loss of significanl rTEmbers of our ￿)ngregationS We miss them all and the contribution they made to the life ol the MA. Finances have dominated the year. or. il would be more corwt to say. lack of finances has dominated the year. The MA is truly fortunate to have such a gifted finance officer without her thriftiness and clarity of thought. the financial position would be hopeless. There is also a wonderful team of Local Treasurers serving all the Churches working in close liaison wth the finance team. Although since the pandernic our congregations have rnaintaine¢Y their new nomial. levels of attendance. the MA receives far. far les$ in offering each week than the £11.55 per person which the Diocese estimate would cover the Parish Share. Throughout the year the income received has not been enough lo Cover the increased costs including the increased general cost of living and utility charges which are crippling us. There is a need for urgent reconsideralh)n of giving and generosity for fvlure long-term suNival. The Churches within the Ministry Area have b￿n proactNe in Mission which is reflected in the individual church's statement of mission and there is plenty of evHdence that the congregations are playing their part in realising those statements to try and grow in God's lfjngdom. In brief these are.. St Mary's Coity had a year of further consolk4ation. A strong congregation with regular church choir grew over the year with weekly Sunday Club held to bring the next generation into the Church commLJnity. Coity continued to support the local Foodbank throughout the year St Mary's Nollot) saw a slow but noticeable recovery of wot5hippers coupled with increased numbers of Baptisms and Weddings. A variety of missKJn events were held or hosted throughout the year which included school study visits. attendance by the l(xal community at special annual events. Nolton church continued to supwrt the k)cal Foodbank Both Coty and Nolton churches are the for many larger community events such as weddings, funerals. bapkn'sms and other Occas￿)nal services St Mary's Brackla continued to fiounsh and build firni relationships within and outside Ihe Chvrch. Events were held to become more Visib￿ in the wider community. Open the BLX)k was a regular weekly feature in school assemblies and Messy Coffee Mornings were introduced for inter- generational links. SUc￿s was the resuft of vision. commitrnent and fellowship of Brackla members and working wth the Diocesan Mission Enablers All Saints , Pen -y-Fai, are very pr02Ctive in worknng wth the Community to strength and grow. Events thal cmtinued Ihroughout the year include OFen the Book initiative al local primary school, Warm WelcoThE lunches, working in ctose asswalK)n with Communities and Schools to support the community and charities alike. Friendships with non4hur¢h attenders are slrengthening and the locals are owning ' their church MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT {contlnued} St Crallo's is disadvanlaged in Mission works as there is no njnning water. or toilet facilities. St Crallo's therefore opted for a gentle appro&h with members offering their homes for afternoon teas and other fundraising events which were very successful. Other events Sl Crallo's hosted included the kKal primary school Easter and Harvest services. Community lessons and carol services, annual Nativity and Chrislingle service. All events held in the vision of increasing growth St Illtyé's have had a challenging year unibng the drfterent tradrtions in the Churches in the Ministy A￿a_ However with continued prayer and commttsnent from the congregation al St Illtyd's changes were embra¢ed and the future ouwook is to move fon*var(J in faith. hope k)ve to further God's kingdom St David's have been busy in pro&tively ensuring everyone has a wami welcome al Sl David's church. There has been some growth in attendees al Baptisms and Weddings becoming regular church members and work for the Fdlowship within the Ministry Area and lo grow in Faith continues St Teilo's beneffted from a more consistent delNery of Sunday Services which resulted in no change in congregation numbers attending service. Fundraising events were helé alnv)st every month and were open to the wider public. Whilst the events were financially rewarding and allowed St Teilo's to make contributions to a number of charities, the true success was in bringing large numbers, old and new friends, ID church. Sl Teilo's is excepb'onally proactNe and successful at holding events. The last year has seen a marked increase in rnany communFty schools using the churche5 for services and for educational sessions which is resulting in strong and lasting friendships. Forest Church has continued to meet throughout the year with numbers inC￿2S1ng. Every N*ling had tts profound moments of sharing experiences and appreeialion of God's Creation. Overall the Ministry Aw in 2023 has had SUC￿5se5 in tying to grow God's Kingdom which are down to the vision, commitTTEnt, lime given, skills of those holding roles within the MAC and parishioners alike. The MA continues to grow in fellowship with each other and there has been gwd improvement in creab'ng a team spirit in helping and supporting each other. The Ministry Area experienced mixed fortune in 2023. but il still needs to look to God for its direction and purpose. We look forward to seeing our ¢ongregalions and the whote of the Ministry Area grow in faith. fellowship and number, and we thk foMard to seeing your ministn.es go from strength to strength. Financial Review During 2023 the￿ has been good pr(>Jress in implemenling a central accounting function wtth ongoing progress. A central bank account has tEen opened and slovly each of the indNidual church bank accounts have been transferred lo allow the sharing of resources. while still enabling the individual churches to idenlrfy and monitor their own elements via the accounting system. This ha5 impacted on the local Churches Treasurers, but ultimately as day to day processes are con501idated, their ts.me will te freed to apply their skills to the key financial issues facing the church. 2023 has been a challenging year for finanee both with declining attendance of congregalions and decline in giving whereby the contribution needed to cover basic Church running costs wa5 not mel. As wort of combining the original parish records. and investwJation of certain assets is continuing further information is coming lo light which has so far fftsurted in the reclasSrf￿at1on of investments trom unreslricled to restricted. There is ongoing research lo clarify the position of various assets, parb"cularfy properties, and the original source of funds particularly some of the okler restricted funds. This work Is not yet complete and the notes lo the accounts explain some of the outstanding areas. This may lead to adjustments to Ihe accounts when the investigations are complete in future years. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT (continued} The day-to-day finances are administered ty the MAC, the Finan¢e Officer and k)cal Church Treasurers as agreed and directed by the MAC. As the MAC devebped it became ¢kar thot for efficient governance there was a need for a Finance and Policy sub-committees lo be set up. These have been fomied in 2D23. During the year the charty had a lotsl income from aetiviiies and assets of £291,373. This sum was split between restricted income of £77.794 and unrestricted income of £213,579. The majority of the restricted income relates to investment income from reStr￿ted funds such as investments and investment property. In the year, the charity haj total expenses of £367.281. Of the expenditure £214,398 was unrestricted and £152,883 was restricted. There were no major repair works ¢arried out in 2023. The recurying spend was approximately £367,281 against potentially recurring income of £291,373 - a significant deficil of £75,908. This is compounded by a loss on propety valuation of £82,5￿, parbally offset by gain on investments of £66.220. The shortfall has been made up by utilising cash reseNes. The major recurring expense in the year is the parrsh share paid to the DicKese. This totalled approximately £157,000 in the year. Of the total expenditure. some items such a5 parish share were mel by utilising the cash reserves brought forward in individual churches when the churches were merged with into the Ministry Area. It is intended to wnlinue using these reserves of the individual churches to pay the parish share and other parish related expenses in future years. The majority of the investments are held in shares in the Commn Investment Fuftd administered by the Representative Body of the Church in Wales. The value of the shares in the Fund ftucluates with time. The Representative Body folbws the Church of Wales ethical guidance on ethical inveslnEnts prohibiting investments for example in armaments. predatory lending acb'vth"es. gambling and alcohol and seeks to promote good levds of environmental, social governan￿ responsibility. The investments are held to provKJe some income to the parishes and to provide fund5 where necessary for, in particular. capital projects in line wilh the original donations. The Ministry Area can ub.lise the fijnds as necessary subject lo restriction5, particularly on capital projects. but does not want to draw down on the investments except in necessity as once spent they cannot be easity replacedl The nel assets of the charity at the year end lotalled £2,218.041. However. the map)rity of these assets are restricted, with only unrestricted nel assets of £132.432. Within this there are £116.192 of unreslricled cash. v￿bile there is also some funds brought forward in indNidual churches which are classed as restricted bul can be used be fund Specif￿ church costs such as parish share, it can be seen that the Area needs lo generate significant unrestricted income each year to cover ils on-going costs and avoid drawing down on cash reserves. Reserves Policy Although the charity has £2.218,401 of lotsl funds, a large proportion are restricted and also lied up in investrnenls. At the year end the charty therefore held only £116,192 in cash which was freely available lo meet on-going expen5e5. apprDximatety 4 Tmnths of available reserves. ￿lIe there is on-going income, the charity intends lo develop plans to hokl 5ufftient cash reserves at any point in time to cover al least 6 months of recurnng expenditure. The charity is the￿fOre seeking to improve tts k*Xition as summarised below. Plans For Future Perlods The Trustees recognise the need to improve the ¢harity's on-going cash kN)sition. The charity has le￿ntlY put the Port Talbot propety up for resale as the property has not generated significant income. However. the Trustees are aware that this may not improve the unrestricted cash position of the charity as the original funds used to purchase the propety may entail restrictions and further investigation is on-going. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT (¢ontinued) The Trustees recognise the diffKutties of raising funds in a general atmosphere of declining Church attendance throughout the country. togetherwith a reduced number of available clergy to celebrate seN1￿. The Charity is developing ￿nS to set up key targets for the future including average number of persons attending services, and aVer￿e giving per member of congregab'on. The Trustees are also however seeking to.. improve giving, particularty regular gNing which wtll aL80 assist wtth grft aid re¢laims. The Trustees recognise that declining church attendance over a number of years has reduced incoming funds and they are seeking to address this both by seeking to Increase attendan￿, and also by encouraging the congregation to contribute more ￿r individual where their personal resources allow together with more fundraising events reduce expenditure. A review of expenditure is being undertaken to centralise expenditure where appropriate particular￿ to detemiine whether any savings can be achieved from centra5 contracts. cutting costs and eliminab'ng substsntial amount of waste and needless spends work with the province to improve the retum on invesbment a Finance Worfl£4 Thesefinancialstater￿ntSWereappr0v&j bythe MinistryArea Council on....................................... Signed on their behaw by Trustee- Rev M Broadway 13 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 STATEMENT OF ACCOUNTING POLICIES Basis of preparatlon The accounts are prepared under the historic cost convention as n￿dified by the revaluation of investments to fair value in accordance with the Charities Act 2011. the Church Accounting Regulations 2006 and the Stslefflent of Recommended Practice ISORPI.. 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to eharf(ies preparing their ￿OUnts in accordance wtth the Financial Reporting Standard applicable in the UK and RepLJblic of Ireland IFRS1021 (effective 1 January 20191., Financial Repo￿ng Stsndard 102 'The Financial RerxJrb"ng Standard applicable in the UK and Republic of Ireland. As a charity, the church is a Publ￿ Benefft Entity (PBE) wthin the n￿anIng of FRS102. The accounts presentation is in line with the requirements of the Annual Financial Return to Llandaff Diocesan Board of Finance. Some of these differ from the fomiat and dI￿10$ure reqU1￿mentS of the SORP IFRS102) because. in the O￿nIOn of the PCC, the fomat adopt￿ best ￿preSen1$ the activilies of the ¢hur¢h. The Mini5ty Area is a multi-church parish whth ctynprised. at the beginning of 2022, the three churches of St Marys, Coity. Nollon and Brackla. On 1st January 2022, fve additional ¢hur¢hes- All Saints Penyfai, St Crallos. Coychurch, St Davids Laleston. St Iltyds New￿lle and St Teilos Merthyr Mawr. were also add to the charity whtch was renamed the Ministy Area. The key accounting estimates used in the preparation of the accounts are.. - the estimated useful life of fixed assets - recoverability of debis. The accounts are prepared on a going con￿rn basts on the grounds that the charity will be able lo Continue ils operations for al least 12 months from the date of approval of the accounts and the trustees confirm that no material uncertainties relating lo this posthon exist The presentation currency of the financial ststements is Pound Sterfing (£1. Accruals accounting All income is credited gross on the date on which it is received. or when it becomes due and can be reasonably ests'mated. All expendrture is fulty accrued based on the date that the liability has arisen. Fund a¢¢ounting Unrestricted funds can be used in accordan￿ with the charrtable obi￿tiveS at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds can onty be used for particular restricted purposes within the objects of the charity- ReSt￿￿'0n$ anse when specified by the donor or when funds are raised for a particular specific purpose. Endowment funds are investment5 where capital is maintained, and inconE can be used in the parishe5 for the purposes spectfied by the original donors. Investsnent Properties Investment properties are originally included in the finan¢ial statements at cost including incidental costs such as professional fees. Investment properties are then revalued periOd￿lty to market value with gains and losses credited or charged to a revaluation reseNe. class'ffied as restricted or unreslricled according to the original nature of the funds used to acquire the property. Church Land and Buildlngs The land upon which all together with the contents of the churches, most of the Area church haSls and the par50nages. are vested in Ihe Representative Body of the Church in Wales. As these, nor their conlenls, are vested in the Ministy A￿a they do not appear in the accounts of the Ministy Area. The Mirsisty Area pays for all maintenance expenses of the church halls. along with the maintenance of individual churches within the Area. Signrficant improvements for any buildings which are not consecrated. such as church halls, are capitalised as part of fixed assets. Cost includes original purchase price plus any costs ditectly attributable to making the asset capable of operating as and where intended. 14 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 STATEMENT OF ACCOUNTING POLICIES (Continued) Tangible fixed assets Tangible fixed assets are capitalised rf they can be used for more than one year and aff stated at cost less accumulated depreCiat￿n. Tangible fixed assets are stated at cost ￿sS accumulated depreciation and any accumulated impairment losses_ Cost includes orginal purchase price plus any costs dI￿¢11Y attributable to making the asset capable of operating as and where intended. Depreciation is provided at rates. in order to write off the cost. less estimated residual value. of each asset on a systemab¢ basis over it5 e5b'maled useful lite. DepreCia￿n is provided on-. equipment at the annual rate of 15% and 250h reducing balance in order to wrtle off each asset over its estirnated useful life. leasehold improvements over 10 years from the date of the improvements completed. Investment assets Fixed asset investments in The Representatwe Body of the Church in wa￿ ComtTr)n Inveslment Fund or other Charity Inveslment Vehictes are valued init￿llY at original purchase cost and subsequently at their market value at the year end with any gains or losses going through the SOFA Amounts held at recognised UK banks are clasSif￿d as cash at bank and in hand. Debtors and credltors receivablelpayable withln one ygar Debtors and creditors are recognised and rneasured at cost with no stated interest mte and receivable or payable within one year are recorded at transaction price. Any k)sses arising from impairnknl are recogni5ed in expenditure. Cash Cash consists of monies heki in Ballks by each of the Churches together with the Area plus, cash in hand al each of the individual churches F￿u$ fvnds held by the Representative Body in bank a¢¢ounl. 15 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 STATEMENT OF ACCOUNTING POLICIES (Contlnued) INCOME Income is recognised in the Statement of Financial ActiV￿eS (SOFA) when the charity becomes entitled to the reSoUr￿s, it's n￿re likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability. The following specifies the policies applied and the main types of income that are included within the particulaT categories of incoming resources." Colle¢tion The Ministy Area received its main incon* from the Direct Giving of rts Parishioners and there are three main categories of this direct income= Gift Aided envelope whictt is remitted etther by the use of a specialty designed red envelope at a Church Service offertory collection. by direct paymenl to the Benefice Covenant Secretary or credited direct by bank transfer by Direct Giving Casual Gfft Aided contributions which are enclosed in the newty designed envelopes. which are signed and handed in at a Church Sery￿e offertory colkntK)n. Cash - oftertory colle¢lions at a Church SeNice. Grants and donations Gmnts and donations are only included in the SOFA when the general income recognibon criteria are met on a perfomiance basis. Legacies Legacies are included in the SOFA when the receipt is probable. that is, when there has been grant of probate, the executors have established the￿ are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Tax reclaims on donatlons, glfts and legacles Gift aid receivable is included in Incorne where there 15 a valid declaratr.on from the donor and is recognised when the claim is successfully received. Any Gift Aid amount recovered is considered to be part of the original donation and as an addition lo the same fund as the inrtkgl donab.on unless the donor or the terms of the appeal have specified otherwise. Incorn? from intsrest and dividends The benefice has tsvo main sources of investment inconE and is included in the accounts when re￿Ipl is probable, and the amount received can be measured reliabty.. Surplus cash resources are invested in Bank Deposits Trust Fund captt21 ts invested in the Common Investment Fund, which is a Managed Fund under the control of the Representative Body of the Church in Wales. This is an income pr￿￿CIng account with a Capital growth potenb"al. The Benefi￿ Churches invofved received a quarterly income payment from the Representative B(yJy. Investment galns and losses This includes any realised or unrealised gains or losses on the sale of inves￿ntS and any gain or loss resulting from ￿Valuing investments to market value at the end of the year. Volunteer help The value of any voluntary help is not included in the accounts but is described in the twstee's annual report. 16 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 STATEMENT OF ACCOUNTING POLICIES (Continued) EXPENDITURE Expenditure is accounted for on an accnjals basis inclusive of VAT which is not recoverable as the organisation is not VAT registered. Liabilities are recognised where il is more likely than not that there is a legal or constructive obligation committing the charity to Pay Out resources and the amount can be measU￿d with reasonable certainty. The charity has ¢￿itorS vthich are measured at Ihe amounts due in settlement. TAX The charity is exempt from corporatton tax. SIGNIFICANT JUDGEMEfrrrs The majority of income and expenditure is based on cash rrKJvements through the bank account. There are therefore limited judgements In the overall accounls. These iudgements include= estimates of the value of investment propety an estimate of the usefvl life of tangible fixed assets eslimales of expenditu￿ incurred, but not yet billed at the time of the accounts recoverability of debts. including debts Irom rental of assets and gift aid. A key judgement area Is ensunng restncted fvnds are correctty identified and that the allocation of expenditure lo individual restricted funds is in accordance with the terms of that specific fund. The Trustees are continuing lo investigate brought forward funds lo determine the details of all reslriclions as identified in individual notes to the accounts. 17 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 NOTES TO THE ACCOUNTS INCOME Unr•strlct•d Restrict8d Funds Funds 2023 Unr•ytrieted Regtrictèd Funds Fun(ts 2022 Tolal Totsl Donations. Legacies and Grants Planned Giving Loose Colleciions Tax Refijnds (Gift Axl) Donations Leg￿leS Grants 80.471 19,598 18.440 80.471 19,598 18.440 10.163 100 83.420 12,D43 18,457 16,031 325 83,745 12.043 18,457 17.082 118 1,051 118 1CX) 15.6(KJ 17.169 820 128.445 145.614 130.771 86,301 217.072 Charltsble Activities Feés - Baptisms. FU￿ra1$ aThJ Weddings Hall hire Money R￿sing Evènts 6.185 4.197 12,382 13.781 5.337 19,118 8D278 60.278 690 45.714 45.714 Income Fr¢m Inveslments Investment Property Inwme Fixed Asset InvÈstmèM In￿me Dèposit Account Interesl 28.876 23,135 4.417 28.876 23.647 40,169 8.329 658 40.169 8,656 512 1.756 327 1,439 49.1 SO.922 Other Incomg Other Incoming Resource5 Covid related grantfrom Diocese 1.713 1.713 3.845 12.267 16,112 1,108 4,953 12.267 1.713 Extraordinary Income Merger of Parishes 615.820 615820 615820 615.820 Extraordlnary Income Extraordinary income relates to the integration of a nwnber of patishes into the charty. The existing Parishes weie joined on 1 January 2022 by the churches of All Saints Penyfai. St Crdlkjs Coychurch, St Davids Laleston, Sl 51Jtyds New¢asUe and St Teilos Merthyr Mawr. At 1 January 2022 the net lund5 In of parishe& were tiansferred as rèstricted furLds to the combined Ministry Area. These openirwJ hJnds are then being applied, el(her in line with individual rèslri¢ti¢n$ Irorn the original donor, or for use in Ihe general expeThYtture of the sFeiyfic chuich. induding ¢ontribuions to the parish share. The transfers were: All Saints, Penytai St Crallos, Coyehurch St Davids, Lalèston St Iltyds, Newcastye st Teilos, Merthyr Mawr 187.$97 61,524 72,202 138,5rM 155,993 615.820 •The r￿ricted and iotal incotnc comp8raiive figure5 hav¢ been wJjuM¢d to retl8ssifs' a VAT reftsnd from money raising ev￿¢5 las part of Charitable Aciiviiie5 incom¢l lo grants las part of I￿￿10n& Le8acies and Grantsi ror£22.585. 18 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 EXPENDITURE Unrestricted Restrfcted FurKIs Funds 2023 Totsl un￿tricted Restrlcted Funds Funds 2022 Total Charltablè Aetlvltl•s ExpèrMlilur• Support for Ministry in¢ltJding parish shar Ministry Area parish share rebate Mainlenance of ServrEs General Parish Expenses Maintenance ol Churches M8jnlen8r￿ of Propèrty M18sion (Donations) Depreciation 72.302 119.2291 5.130 74,347 85.694 157,996 {19,2291 5,130 92.363 58.714 60,491 3,416 3.000 361.881 81.045 165.411 112,9391 S,8S9 76.822 47,228 189.094 5.323 112.9391 5.859 75,939 44.029 36,937 2.323 3.000 239,514 18,016 12,369 883 3,199 152,157 3,000 26.687 416 152.883 240,284 479 798 Other Expenditure Leg81 and Professional 10,309 10.309 MAINTENANCE OF MINISTRY AND RELATED PARTY TRANSACTIONS To fund the provision ot Ministy, the Ministry pays a 'Parish Share" to the Diwese. This Parish Share was split and allo¢ated be￿eeft ea¢h ¢hur¢h as agreed wrthin the Area. The total charge for Parish Share for the Area wa5 £153.87312022 - £154,491). During the yearthe area received a rebate ftir the parish sharefrom the diocese of £19,22912022- £12,939). The total amount outstanding from the area to the diocese at the year end was £Nil12022 £Nill. 19 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 MISSION The Ministry Area recognises that an important part of its Christian Stewardship is to financialty support the work of Church Missions. Christian Charities. Social and Emergency appeals. The amounts paid out for mission and charity donations in the year totalled £3.41612022- £5,323). LEGAL AND PROFESSIONAL Amounts includ& in the accounts due to Independent Examiners, including VAT. for.. Independent Examination Accounting £4,200 (2022- £3,600) (2022- £3,600) CLERICS AND TRUSTEES TrANSACTIONS The Ministy Area pays the cost of all expenses incurred by the Church in Wales Clerics and Church Wardens in the performance oftheir Parish duties. The amunts paKI to Cleri¢s were £9,25212022- £7,809). including £Nil12022 - £5251 of baptism, funeral and wedding fees and £5.721 12022 - £4,199) for re-imbursement of water rate5, electrfcity and gas to 3 (2022 - 2} individuals. The amounts paid io vergers totalled £Nil12022 £Nill. Other trustees received expenses totalling £Nil12022- £Nil) for reimbursement ofexpenses incurred relating to the general running and administrative costs of the charity. Other than detailed a&ove, the Area does not pay any remuneration to the Church in Wales Clerics. The clergy team, including the Dean, are remuneraled by Ihe Llandaff Diocesan Board of Finance. No payments were made to other Twstees for remuneralion. Some trustees give anonymously to the chanty via the weekty ChU￿h Coliections. Specific donations from trustees with conditions attach￿ totalled £Nil 12022 £1.000 which was included in the restricted fvnd income for use in the maintenance and renovation of church buildings). WAGES AND SALARIES Durlng the year the area employed an average of 4 (2022- 4) part tr.me employees at a total cost ot £49,170 12022 £42,6351- The total cost included £Nil (2022 - £1,862) of employerfs national insurance cosls and £52612022- £3261 of employerfs c()ntributions to ￿[Sonal pension schemes. The estimated number of equivalent full empk)yees for the year is 2 (2022 - 21- A Iruslee resigned in the previous period to accept a paKI role within the Ministy A￿a, and their costs are included above for 2022 and 2023 as an employee. No employees earned over £60.000 {2022 - Nil). OTHER INCOME AND EXPENDITURE Income includes govemment grants ot. 2023 2022 Central government grants Other govemment grants 10,600 37,837 Total grants including the above of £16,842 {2022 - £75.309} were received in the year. of which £15.OCN) 12022 - £59,584) related to work done on St Teilo's Churchyard and Su￿OU￿dIng grounds12022 Church and surrounding ground51- 20 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TANGIBLE FIXED ASS￿5 Leasehold rove￿EntS 2023 Total 2022 Total Pro Cosvvaluation brought forward Adjustments Mer9er Cost carried forward 100.LN)1 30,000 130,001 100,000 30,001 130,001 30.000 130,001 Depreciation broughl lo￿ard Depreciation in year Depreciation carried fO￿ard (3.000) 13,0001 3.000 3,000 6,0(N) 6,000 3,000 3,000 Net Book Value brDughl fo￿ard 100.001 27,OOD 127.001 100,000 Net Book Value carried forward 100,001 24.000 124.001 127,001 The land uwn which all churches together wtlti the contents of the chur¢hes, mosl of the Area church halls and the parsonages, are vested in the Representative Body of the Church in Wdles. As these, nor their contents, are vested in the Ministy Area they do not appear in Ihe accounts of the Ministry Area. The following propertres are, however. polentialty believed to be held for the benefft of the Ministy Area.. Nolton Rectory and Church Hall The beneficial ownership of this land and propety is eurrentty being determined. It is currenlty understood that the Ministry Area is nol the beneficial owner of the prope￿eS and therefore no amounts are included in the accounts in relation to these buildings, although shown in ihe 2021 accounts- in the notes lo, bul not the Statement of Financial Affairs. al a cosl of £638:000. Estimates of the current valuab'on a￿ significantly lower than this original figure. Coity Church Hall The beneficial ownership of the Hall is currenuy under investigalb)n. bul it is currentty understood that the Ministy Area is the beneficial owner of the proFety. The original cost of this propety cannol be lully detemined. although Shown in the 2021 accounts - in the notes to, but not the Statement of Financial Affairs. at a cost of £507.168. Dueto the uncertainty surrounding this cost, Coity Church Hall is included in the accounts at valuab'on for balance sheet purposes of £100,000. The valuation was undertaken in the previous year by Watts & Morgan, Chartered Surveyors in accordance with RICS valuation rules effe¢b've asal 31 December 2022 as a freehold propety. Watts & Morgan confirm they believe there has been no material change in this value during the current year. In the prior year, the cost of Coty Churth Hall. was classified as unrestricted. Further investigation has r)ot identified the original source of funds for the Hal: and therefore. while conts"nuing lo investigate the beneffcial ownership of the Hall, the valuation has been reclassified as iestrKted. A Significant proportion of the value of ihe Hall is considered to be the ￿nd on which the propety is based. No depreciation Is charged on Ihe land. The useful life of the Hall is considered to be in excess of 20 years. Accordingly no depreciation on the balance of the valuation ha5 been included in the accounts as it is consid8red immaterial to the overall accounts. 21 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TANGIBLE FIXED ASSETS CONTINUED Laleston ch￿￿h Hall Laleston Church Hall 15 held by the Representative Body of the Church in Wales as custodian trustee for The Ministry Area under terms of a 999 Year Lease which include covenanls that render the Lease valueless lo the Ministry Area under the required RICS assumptions as to baL3nce sheet values. The lease is included in the accounts at a nominal of £1. Leasehold Improvements to the pro￿ty al an apportioned esb"mated cost of £30.000 were made in 2021 prior to the merger. These improvenEnls are being depreciated over a 10 year estimated useful life. 10 INVESTMENT PROPERTIES 2023 2022 Valuation brought forward 563.677 447.500 Additions Revaluation Total carried forward 116.177 I82,5(￿1) 481.177 563.677 Leominster Property was purchased in 2015 for£442,026. In the opinion of the trustees the current valuation of the property is £365,00012022 - £447,500). The original source of funds, and therefore the net income, is believed to be restricted for use in Coity and Nolton parishes. This is a change in classification the propety, which had previously been believed to be unrestricted. and therefore this property has been reclassified as restricted. Port Talbot Propety was purchased in 2022 and is therefore inClud￿j at cosl which also represents the trustees estimate of market value at the year end. The proceeds used to acquire the property are believed lo be restricted although further clarification is being Sort - and therefore this property is classified as restrbcted. Since the year end the property has been disposed of at a sum 5imiUgr to the original cost 11 FIXED ASSET INVESTMENTS The long-term investment of the Ministry Area consists of monies that have been donated or Wueathed to the Benefice andlor one of its churches by parishioners and also Stock issued by the Goveming Body of the Church of Wales under the Tithe Act. The use to which sonE of these capital and income items may be put is restricted to the speciffc terms of the individual Trust Deed_ The majorty of this money is under the control of the Represenlative Body of the Church in Wales in ils capacity as the Special Trustee of all the Deeds and is invesled by the Representthe Body In its Commor) Investment Fund, which is a Managed Fund under its supervision. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 11 FIXED Ass￿ INVESTMENTS ICONTINUEDI 2022 2023 Mathet Purchasel Shares Value Fund D￿￿SaL% No Shares Val Held at Representative Body- Common Investment Fund Coity. Nolton andllinistyArea (All ￿lIgiOuS purposes investments ¢￿tsIn￿d￿ current yearand¢ompa**lves amentled) Religiou5 purwse in general but prinarity for Ihe use in C¢W and Nollon Parish Capital Accu￿￿1￿ irKLYne 411.477 862.291 25.967 437.444 967.845 23.446 49.133 (23.4461 5,284 20,497 Lega¢y hekl foi le1￿￿)Us PUtFx]5e5 ￿ ge￿￿1 Cash fotf&inve5trnent 9,781 9.781 21.640 4,¢X)8 8.399 Maintenance ofgraveyard St CraNo'4 Coychurch laintefflance of Church Churchyard General church purposes Mainlenanc8 01 6.237 Church aTrJ Churchyard. Maintenance of Wesl Mwrnrial IMTrJr** 4,008 8,868 2,976 2,976 2.418 1.154 2,553 3.501 7.337 Accumulated income 158 3.659 136 Cash for ￿.1￿vestme 71 All Salnts Penyfai ainten8T￿ ofchurch 8uiTrJm95 C3pi131 15.863 37.n7 33.242 79.165 15.863 35,097 88,301 AccuTh7u13ted intome 2.133 39.910 1.9a8 Cash fori&in¥estment 609 2,373 4.973 Mainlenance of Churchyard 5tDavid& Laleslon 2,373 5,250 Char￿1 repairfvnd CapSts1 AccumuLitsd intome 614 1.285 614 1.358 705 1.477 109 814 1.801 163 Cash fOrr&in￿tMent 23 1.083.945 SUl￿t0¢al 1 148.096 Held at Church Stmarys. Coity Maintenance of graveyard-COIF ChariiEs 18.677 In¥eslment Fund 20.393 St Tell04 Ilerthyrldawr 55.140 LGT In￿StMent fund 59.058 73 817 Sub TotJl 1 157 762 Tota15 23 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 11 FIXED ASSET INVESTMENTS ICONTINUEDI coStymo￿c Mirxstry Area Newrastl? C0y¢hu￿h erthyr La•stofi Mawr Penyfal Total Al 1 January- original 8.399 16.128 119.288 2.925 55,140 1,157.762 Incorne rela￿ed in portfobo 270 3.206 3,565 Revaluation 6.763 168 3.918 66.220 1 009 878 59.058 Restricted Re5tri¢led- Endowment 554.234 8.166 88.910 1.824 59.058 712,192 9.138 40.347 493,715 988.238 17,304 129.257 3,182 69.058 1,20S,907 Unrestricted 21.640 See Nrts 14 1.009.878 129 257 69 OS8 1227 547 Movemen Bro￿￿1 Brnt￿t RestrKted 220.557 448.815 669.372 16.542 112.977) 39.255 711192 Restrthd- endowrrEnt 455.954 11.939 467.853 10.158 {10.158) 25.822 493.715 Restrictsd 676.511 460.754 1.137,265 26.700 P3.135) 65,077 1.205,W7 Unrestricied 481.251 512 512 21.640 Total 1 157 762 66 220 1 227 547 24 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 12 DEBTORS 2023 2022 Other debtors (rent due) Other debtors were classed as unrestricted, but as they relate to the Leominsler property. have now been reclassified as restrKled. 13 CREDITORS 2023 2022 Accmals Other creditors Including tsx and Social securty 4.200 1.200 5.400 7,561 838 All a¢¢ruals and creditors are dassed as un[eStr￿1ed. 25 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 14 RESERVES The Ministry Area aims to be at least break-even in fLrture yEats so that its reserves a￿ maintained so that ffixed asset investments are only drawn down for major cathl expenditure. 1 Jan 2023 Adjusl Adjusted 1 Jan 2023 NDt Incorr IIExpendèturel 31 Doc 2023 (D￿PoSal51 Flxed A5s8ts Inwestrnenl Prope 447.xrfj 82 5LKI Tangiwe r￿e￿ as5ds- prwerty St Dav￿$. La￿ton Coity Hall 27,001 27.001 (3,0￿) 24.fyJ1 100,000 100.IX)O 100.(X)O Investsnènts Religious Purpose> for Coty and Nottan parishes Mainlenanc? of ¢hurchyard and buik1ings'. st Marys. C St Iltyd$. Newcast St Cra1105. Coychurch I Saints. PeThyfai St Davids. Lak5ton For use in parish St Teilos. Mertltyr Mwwr Total Investments 455.954 460.754 916.708 51.137 967,845 18,677 8,399 16,128 119.288 1925 18.677 8J99 16,128 119288 1.716 469 9J6 6.763 168 20,393 8,868 17,304 129.257 3,162 270 3.2( 3.918 65.077 S9.058 676511 460.754 Oth&r (WOr￿vrO￿lI0 9.625 Cash Brack12. Corty and Nolon parishe5 Maifiienan¢e of churchya and bwldin95 St I￿¢￿. Newca5l1e St Cra1105. Cvychurch All Saints. Penyfai StTeil)s, Merthyr M¥*ir OIIEr 5pEcffic pu￿05e5 within parishes St David$. Laleslon St Tedos, Merthyr Mawr Tron$fer of opening balar for u$e on pari$h expenditu st ltyd5. Newcast I Swnts. Penyfai SI TBibs. Merthyr M￿r Total Cash 124,112 124,112 140,2941 83,818 4.105 29.924 652 53.03S 4.10S 29,924 I8￿} 12,9091 952 464 3,Z99 27,01S 1.604 53.499 53,035 7.008 1.219 1.219 86,392 28.695 86.392 28.695 3,425 86,392 11.03D 117.6651 3.425 62,464 337.348 Total Restricted 1157 037 1 017879 2 174 916 2 085 969 Unrestricted Inve51rnent propety Tangible fixed assets Inveslments a8h Debtorslcreditors Total unrestrl¢ted 447.sc loo.000 481,251 120,010 1447.5001 I100.￿0) 1480.7541 20.497 120.010 8.399 1.143 13.8181 2.999 324 21.640 116.192 5,400 132 432 9.625 1 IM7 879 1 149 987 Total 2,307 024 2 218 401 The re$lridions regarding the investment tY¥4)erty (xsh held in Br&*la. Coity. Ndton and St Iltyds are under invesligaticm) to detemine their exact T￿t￿re fr￿) the thwjinal souree of the fijnding. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 The prior year comparatives shryw.. 1Jan 2022 Adjust AdJusLed 1 Jan 2022 P*rger Addition IDi$posaLg1 Net In¢omtt I(Expenditu￿> 31 Dee 2022 Rostrlcted Fixed Assets Investment Property 116 177 116.177 Tangib￿rLxed 3sset5-prapetty Sl Davi(ts. Laknton JO.C(11 Investments Religious Purposes for Corty and Notton parishes endowment Main(enanc• of churchyard 2nd buildiws.. Sl Mary5, Coty SI INyd5. Newca51 St Cralbs, Coychurch All Saints. Penyfai St Davh1$. La￿stOn For use in parksh SITeilos. Merthyr Mawr Total Investments 241.275 212.703 453.978 50.oro 148.0241 455.954 10.676 10,458 21.134 12,4571 19851 11,8721 113.7631 132SI 18,677 8.399 16.128 119.288 2.925 19.759 133.051 3.251 11.7591 113.131 48.0 241 251 951 223 161 475 112 676511 Cash Brackfa. Coty and Notton paThshes Maintenance of churchyard and buildiws St IKyd5. N8wc851 Sl Cralb5. Coychuich All Sain15. Penyfai St Davvjs. Lale5ton Sl Teilos. Merthyr Mawr Other specific Pu￿05eS within parish 320.108 (71.5651 248.543 1116.17n 18.2541 124.112 1259 28.8 6.e81 970 4.105 29.924 652 1.028 16.2091 19701 129.9521 49.759 53,035 St Da¥￿s. La￿Sten Transfer of opening balan￿$ for use on parish expendrture St Iltyds. Newcastle st Crsllos. Coychurch All Saints, Penyfai st Day￿S. La￿stOn St Teilos. Merthyr Mawr Totsi Cash 17. 110.8921 7,008 127.862 12.867 47.686 41.4701 112.8671 86.392 28.695 12D.0801 6.209 152020 320 108 418 337 348 Total Restricted 572 059 723.655 1 157 037 UnrBstri£lBd Inve$tmenl proptrty Tangibfe fLxed assets pioperty Investrnen Cash Deblorslcredrto Ttstal unr8strlcted 447.X 447.5rM> 1C(I. 447.500 100,000 246,275 102.107 1.140 329.027 575.302 702.107 1.140 150.OCQI 144.0511 17,903 481,251 120.010 1 149 987 Total 256 220 2 307 024 The restrictions regarding the invèstrnertt pro￿rty arnl cash held in Brackla. c￿ty. Ndltsn.Sl ltyds and St Tedos ar8 under investigation to detèmiine thèir exact nature from the ￿lginal Sour￿ of the lunding. Transfers of £S0.OCQ repiesenl use of unrestricted investment funds held by RepresenlatNe Body to purchase restricted endowments funds_ Thi5 is oftset by transfer of£9,1CK> spendingfrom restrictèdfunds resulting in a net transfer in the Statement of Finanaal Acl1vit￿& of £40.￿). 27 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 15 FUND TRANSFERS The Trustees have been investigating the restricbons, including were possible obtaining copies of wills relating lo the original donations. This ha5 resulted in the following reclassificab.ons to last years opening position wh￿h are shown as transfers during 2023_' Note Coity Hall Investment Prowty Coity, Nolton and Brackla- fuKI for rdigiou5 purposes Investment Property Rentsl Debtor Totsl reclassifications 1￿,000 447.500 460.754 9,625 1.017,879 10 11 12 14 As detailed in Note 9, the ownership and valuation of Coity Hall ss undetermined. The hall has therefore een shown and reclassified a5 restricted in the current year. Funding for the Leominster Propety- and The Port Talbot propety - is believed to have been derived from a number of sour¢e$. principally the sales of property in Notton and Coity which. in lum, it is believed were originalty purchased by utilising fvnds reslricled for use in Nolton and Coity. Therefore, the Propety has been elassified as restrtcted while frjrlher investigations are undertaken. Further infomiation has been obtained on an investh*nt held for religious pur￿seS and it is now understood that the fund can only be used for the Church to which it i8 donated. It has therefore been reclassified as restricted. As the investment property which last years rental debtor related to has been reclassified as restricted, the rental debtor has been reclassified as ￿stricted accordingly. 16 COMMITfiIENTS The charity had operating lease commilrnents of 2023 2022 Due within one year Due between 1 and S years 1,396 4,886 6.282 3,806 6,216 The charity made payments under operating leases in the period of £5.413 {2022- £4.4891. The charity had no capital commitments al the year end12022 - £Nil). 28 CHARITY NUMBER 1135927 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR MINISTRY AREA PENYBONT AR OGWR MINSTRY AREA PENYBONT AR OGWR Accounts 2023 CONTENTS Charity Information Trustee's Report.. Report of the Independent Examiner 10-11 Statement of Financial Activities 12 Balan￿ Sheet Statement of Accounting Policies 14-17 Notes to the Accounts 18-28 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 CHARrrY INFORMATION Charity Name Ministry Area, PenY￿nt Ar Ogwr Registered Charity Number 1135927 Principal Address St Marys Church Hall Merthyr Mawr Road North Nolton Bridgend CF313NH Contact Delails 01656 667690 Charity Trustees Rev M Broadway (appointed 25 Jun& 2024) Rev M Thome (rgswned 31 March 2024) Rev R Pitman (appointed 1 September2023J Rev D Lloyd (retired 31 August 2023) G Coles P Coulson S Davidson ADIX H Harrison (appointed 3 Febmary 2023) P Williams (appointed 3 Febmary 2023) S Buckley (appointed 30 April 2023) H Markwell (appointed 30 April 2023) S Jones (appointed 8 May 2023J V Turner (app￿nted 8 May 2023) J Morgan (appointed 1 January 2024) L Davies (appointed l June 2024) J Lewis (appointed 30 June 2024) A B￿kleY (8pwinled 30 June 2024) P Craven (r8signed 76 May 2023) C Judd (resigned 16 May 2023) l Hibble (appointed 3 Febnjary 2023. resigned 16 May 2023) A Dowlman (resigned 30 September 2023) J Dowlman (resigned 3 February 2023, ¢tropted 6 Apn"12023 and re-appointed fonnally 20 June 2023. resigned 31 October 2023) H Evans (resigned 3 Febmary 2023 ￿appOInted 30 Apnl 2023. ￿SIgned 30 Apiil 2024) M David (appointed 3 February 2023, resigned 31 May 2024) R Gauci (appointed 3 February 2023, t8signed 30 June 2024) P Smith (resNgned 30 June 2024) l Aartley- Brown (resigned 5 September 2024) MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT The trustees have pleasure in presenting their rewrt and financial statements for the Charity for the year ending 31 December 2023. Objectives and Activities The objectives of the Charity are achieved by promoting throughout the Ministry A￿a the whole mission of the Church. pastoral, evangelistsc, social and ecumenical- within our parish. This includes the following." Conducting regular Christian worship including the Holy Eucharist, marriages, fvnerals and baptisms., The provision and maintenance of the fabric of the churches. churchyards and associated buildings for which we are responsible-, The maintenan¢e of Christian bunal pkices.. Promob"ng the study of Christian teaching. practw and Scripture. The provision of means and encouragement to promote lellowship within the membership of the churches and the wider communty", Pastoral eare and visiting Ihe sick & dying- Fostering ecumenical links betsveen diffeiing Christian denominations- Supporting the work of other charities. In preparing this report, the Ministy Area Council have considered the guidance issued by the Charity Commission on public benefit. In each decision made, we have sought lo weigh up the benefit andlor detriment both for those who I￿n us for public worship ￿￿thin our congregations and those resident in our communities. The Ministry Area Council believes that the Church's activrtEs detailed above are the main activities undertaken lo meet the charity's public benefit objectNes and to achieve its overall aim of promoting the Ministry Area and whole mission of the church. The Ministry Area measures success based on the level of actwtties - both religious and social - that il undertakes throughout the year. The Twslees believe that 2023 was a successful year. with a number of a¢livities being undertaken bolh internally and joining with the community, for example local ￿h0o1$. The Area is seeking to expand on this in fvture periods. Monies are raised by freewill offertory, fundraising ￿1VIlle$ and specific appeals These are used lo support the work and administration of the churches and wder mission. Both the Ministry Area, and ils constituent local churches, continue to ath.vely increase attendance and develop mission work in the community. Many of those involved in the main functions of the churches are volunteers_ The Ministry Area is grateful to all of those who freety gNe of thar ts.me on a voluntsry basis. The majority of functions perfomied within the Area, including serving on the Area Council, are performed on a voluntary basis. These include various administrative functions, butalso keeping the Church in a clean and seNiceable stale including limited maintenance, heltmng at service5 and organising events both religious artd social around the service calendar. Without the signthcant numbers of indwiduals from each church giving their lime the activities of the Area would be severety restricted. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT (continu8d Achi•vgments and Performance 11 is disappointing that there isn't very much to report that is different from the prior year. Unfortunately, the situation in the Church in Wales (if not across the whole of the Church in the UK) hasn't changed and we are still facing a decline in both church attendance and in vocations to the priesthood. Further1T￿re, many priests are retiring earfy including our previous MA Leader who retired in March 2024. The Clergy within the MA were wonderful in the aCceptsn￿ of the management situation, athough tt would have been preferable if there were three wiests. associate priests and a curate, as in past, but sadly those days are well and truly gone. Local retired Clergy continued to offer support and cover throjghout 2023 wherever needed and the LI￿nsed Lay Ministers assisted in keeping everything ticking over on the altemale week5 $0 that there was always a service in every Church every Sunday. A ClericiDined the team in August 23 which eased the dire Ciergy situation, and unusually, the MA was able to adverlise the post of MA Leader whilst the current MA Leader was 5ti11 in post which allowed her to be involved in the process of writing the profile. The successful candidate Reverend Mark Broadway took up his post in 2024. Unfortunately the year saw a loss of significanl rTEmbers of our ￿)ngregationS We miss them all and the contribution they made to the life ol the MA. Finances have dominated the year. or. il would be more corwt to say. lack of finances has dominated the year. The MA is truly fortunate to have such a gifted finance officer without her thriftiness and clarity of thought. the financial position would be hopeless. There is also a wonderful team of Local Treasurers serving all the Churches working in close liaison wth the finance team. Although since the pandernic our congregations have rnaintaine¢Y their new nomial. levels of attendance. the MA receives far. far les$ in offering each week than the £11.55 per person which the Diocese estimate would cover the Parish Share. Throughout the year the income received has not been enough lo Cover the increased costs including the increased general cost of living and utility charges which are crippling us. There is a need for urgent reconsideralh)n of giving and generosity for fvlure long-term suNival. The Churches within the Ministry Area have b￿n proactNe in Mission which is reflected in the individual church's statement of mission and there is plenty of evHdence that the congregations are playing their part in realising those statements to try and grow in God's lfjngdom. In brief these are.. St Mary's Coity had a year of further consolk4ation. A strong congregation with regular church choir grew over the year with weekly Sunday Club held to bring the next generation into the Church commLJnity. Coity continued to support the local Foodbank throughout the year St Mary's Nollot) saw a slow but noticeable recovery of wot5hippers coupled with increased numbers of Baptisms and Weddings. A variety of missKJn events were held or hosted throughout the year which included school study visits. attendance by the l(xal community at special annual events. Nolton church continued to supwrt the k)cal Foodbank Both Coty and Nolton churches are the for many larger community events such as weddings, funerals. bapkn'sms and other Occas￿)nal services St Mary's Brackla continued to fiounsh and build firni relationships within and outside Ihe Chvrch. Events were held to become more Visib￿ in the wider community. Open the BLX)k was a regular weekly feature in school assemblies and Messy Coffee Mornings were introduced for inter- generational links. SUc￿s was the resuft of vision. commitrnent and fellowship of Brackla members and working wth the Diocesan Mission Enablers All Saints , Pen -y-Fai, are very pr02Ctive in worknng wth the Community to strength and grow. Events thal cmtinued Ihroughout the year include OFen the Book initiative al local primary school, Warm WelcoThE lunches, working in ctose asswalK)n with Communities and Schools to support the community and charities alike. Friendships with non4hur¢h attenders are slrengthening and the locals are owning ' their church MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT {contlnued} St Crallo's is disadvanlaged in Mission works as there is no njnning water. or toilet facilities. St Crallo's therefore opted for a gentle appro&h with members offering their homes for afternoon teas and other fundraising events which were very successful. Other events Sl Crallo's hosted included the kKal primary school Easter and Harvest services. Community lessons and carol services, annual Nativity and Chrislingle service. All events held in the vision of increasing growth St Illtyé's have had a challenging year unibng the drfterent tradrtions in the Churches in the Ministy A￿a_ However with continued prayer and commttsnent from the congregation al St Illtyd's changes were embra¢ed and the future ouwook is to move fon*var(J in faith. hope k)ve to further God's kingdom St David's have been busy in pro&tively ensuring everyone has a wami welcome al Sl David's church. There has been some growth in attendees al Baptisms and Weddings becoming regular church members and work for the Fdlowship within the Ministry Area and lo grow in Faith continues St Teilo's beneffted from a more consistent delNery of Sunday Services which resulted in no change in congregation numbers attending service. Fundraising events were helé alnv)st every month and were open to the wider public. Whilst the events were financially rewarding and allowed St Teilo's to make contributions to a number of charities, the true success was in bringing large numbers, old and new friends, ID church. Sl Teilo's is excepb'onally proactNe and successful at holding events. The last year has seen a marked increase in rnany communFty schools using the churche5 for services and for educational sessions which is resulting in strong and lasting friendships. Forest Church has continued to meet throughout the year with numbers inC￿2S1ng. Every N*ling had tts profound moments of sharing experiences and appreeialion of God's Creation. Overall the Ministry Aw in 2023 has had SUC￿5se5 in tying to grow God's Kingdom which are down to the vision, commitTTEnt, lime given, skills of those holding roles within the MAC and parishioners alike. The MA continues to grow in fellowship with each other and there has been gwd improvement in creab'ng a team spirit in helping and supporting each other. The Ministry Area experienced mixed fortune in 2023. but il still needs to look to God for its direction and purpose. We look forward to seeing our ¢ongregalions and the whote of the Ministry Area grow in faith. fellowship and number, and we thk foMard to seeing your ministn.es go from strength to strength. Financial Review During 2023 the￿ has been good pr(>Jress in implemenling a central accounting function wtth ongoing progress. A central bank account has tEen opened and slovly each of the indNidual church bank accounts have been transferred lo allow the sharing of resources. while still enabling the individual churches to idenlrfy and monitor their own elements via the accounting system. This ha5 impacted on the local Churches Treasurers, but ultimately as day to day processes are con501idated, their ts.me will te freed to apply their skills to the key financial issues facing the church. 2023 has been a challenging year for finanee both with declining attendance of congregalions and decline in giving whereby the contribution needed to cover basic Church running costs wa5 not mel. As wort of combining the original parish records. and investwJation of certain assets is continuing further information is coming lo light which has so far fftsurted in the reclasSrf￿at1on of investments trom unreslricled to restricted. There is ongoing research lo clarify the position of various assets, parb"cularfy properties, and the original source of funds particularly some of the okler restricted funds. This work Is not yet complete and the notes lo the accounts explain some of the outstanding areas. This may lead to adjustments to Ihe accounts when the investigations are complete in future years. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT (continued} The day-to-day finances are administered ty the MAC, the Finan¢e Officer and k)cal Church Treasurers as agreed and directed by the MAC. As the MAC devebped it became ¢kar thot for efficient governance there was a need for a Finance and Policy sub-committees lo be set up. These have been fomied in 2D23. During the year the charty had a lotsl income from aetiviiies and assets of £291,373. This sum was split between restricted income of £77.794 and unrestricted income of £213,579. The majority of the restricted income relates to investment income from reStr￿ted funds such as investments and investment property. In the year, the charity haj total expenses of £367.281. Of the expenditure £214,398 was unrestricted and £152,883 was restricted. There were no major repair works ¢arried out in 2023. The recurying spend was approximately £367,281 against potentially recurring income of £291,373 - a significant deficil of £75,908. This is compounded by a loss on propety valuation of £82,5￿, parbally offset by gain on investments of £66.220. The shortfall has been made up by utilising cash reseNes. The major recurring expense in the year is the parrsh share paid to the DicKese. This totalled approximately £157,000 in the year. Of the total expenditure. some items such a5 parish share were mel by utilising the cash reserves brought forward in individual churches when the churches were merged with into the Ministry Area. It is intended to wnlinue using these reserves of the individual churches to pay the parish share and other parish related expenses in future years. The majority of the investments are held in shares in the Commn Investment Fuftd administered by the Representative Body of the Church in Wales. The value of the shares in the Fund ftucluates with time. The Representative Body folbws the Church of Wales ethical guidance on ethical inveslnEnts prohibiting investments for example in armaments. predatory lending acb'vth"es. gambling and alcohol and seeks to promote good levds of environmental, social governan￿ responsibility. The investments are held to provKJe some income to the parishes and to provide fund5 where necessary for, in particular. capital projects in line wilh the original donations. The Ministry Area can ub.lise the fijnds as necessary subject lo restriction5, particularly on capital projects. but does not want to draw down on the investments except in necessity as once spent they cannot be easity replacedl The nel assets of the charity at the year end lotalled £2,218.041. However. the map)rity of these assets are restricted, with only unrestricted nel assets of £132.432. Within this there are £116.192 of unreslricled cash. v￿bile there is also some funds brought forward in indNidual churches which are classed as restricted bul can be used be fund Specif￿ church costs such as parish share, it can be seen that the Area needs lo generate significant unrestricted income each year to cover ils on-going costs and avoid drawing down on cash reserves. Reserves Policy Although the charity has £2.218,401 of lotsl funds, a large proportion are restricted and also lied up in investrnenls. At the year end the charty therefore held only £116,192 in cash which was freely available lo meet on-going expen5e5. apprDximatety 4 Tmnths of available reserves. ￿lIe there is on-going income, the charity intends lo develop plans to hokl 5ufftient cash reserves at any point in time to cover al least 6 months of recurnng expenditure. The charity is the￿fOre seeking to improve tts k*Xition as summarised below. Plans For Future Perlods The Trustees recognise the need to improve the ¢harity's on-going cash kN)sition. The charity has le￿ntlY put the Port Talbot propety up for resale as the property has not generated significant income. However. the Trustees are aware that this may not improve the unrestricted cash position of the charity as the original funds used to purchase the propety may entail restrictions and further investigation is on-going. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TRUSTEE'S REPORT (¢ontinued) The Trustees recognise the diffKutties of raising funds in a general atmosphere of declining Church attendance throughout the country. togetherwith a reduced number of available clergy to celebrate seN1￿. The Charity is developing ￿nS to set up key targets for the future including average number of persons attending services, and aVer￿e giving per member of congregab'on. The Trustees are also however seeking to.. improve giving, particularty regular gNing which wtll aL80 assist wtth grft aid re¢laims. The Trustees recognise that declining church attendance over a number of years has reduced incoming funds and they are seeking to address this both by seeking to Increase attendan￿, and also by encouraging the congregation to contribute more ￿r individual where their personal resources allow together with more fundraising events reduce expenditure. A review of expenditure is being undertaken to centralise expenditure where appropriate particular￿ to detemiine whether any savings can be achieved from centra5 contracts. cutting costs and eliminab'ng substsntial amount of waste and needless spends work with the province to improve the retum on invesbment a Finance Worfl£4 Thesefinancialstater￿ntSWereappr0v&j bythe MinistryArea Council on....................................... Signed on their behaw by Trustee- Rev M Broadway 13 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 STATEMENT OF ACCOUNTING POLICIES Basis of preparatlon The accounts are prepared under the historic cost convention as n￿dified by the revaluation of investments to fair value in accordance with the Charities Act 2011. the Church Accounting Regulations 2006 and the Stslefflent of Recommended Practice ISORPI.. 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to eharf(ies preparing their ￿OUnts in accordance wtth the Financial Reporting Standard applicable in the UK and RepLJblic of Ireland IFRS1021 (effective 1 January 20191., Financial Repo￿ng Stsndard 102 'The Financial RerxJrb"ng Standard applicable in the UK and Republic of Ireland. As a charity, the church is a Publ￿ Benefft Entity (PBE) wthin the n￿anIng of FRS102. The accounts presentation is in line with the requirements of the Annual Financial Return to Llandaff Diocesan Board of Finance. Some of these differ from the fomiat and dI￿10$ure reqU1￿mentS of the SORP IFRS102) because. in the O￿nIOn of the PCC, the fomat adopt￿ best ￿preSen1$ the activilies of the ¢hur¢h. The Mini5ty Area is a multi-church parish whth ctynprised. at the beginning of 2022, the three churches of St Marys, Coity. Nollon and Brackla. On 1st January 2022, fve additional ¢hur¢hes- All Saints Penyfai, St Crallos. Coychurch, St Davids Laleston. St Iltyds New￿lle and St Teilos Merthyr Mawr. were also add to the charity whtch was renamed the Ministy Area. The key accounting estimates used in the preparation of the accounts are.. - the estimated useful life of fixed assets - recoverability of debis. The accounts are prepared on a going con￿rn basts on the grounds that the charity will be able lo Continue ils operations for al least 12 months from the date of approval of the accounts and the trustees confirm that no material uncertainties relating lo this posthon exist The presentation currency of the financial ststements is Pound Sterfing (£1. Accruals accounting All income is credited gross on the date on which it is received. or when it becomes due and can be reasonably ests'mated. All expendrture is fulty accrued based on the date that the liability has arisen. Fund a¢¢ounting Unrestricted funds can be used in accordan￿ with the charrtable obi￿tiveS at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds can onty be used for particular restricted purposes within the objects of the charity- ReSt￿￿'0n$ anse when specified by the donor or when funds are raised for a particular specific purpose. Endowment funds are investment5 where capital is maintained, and inconE can be used in the parishe5 for the purposes spectfied by the original donors. Investsnent Properties Investment properties are originally included in the finan¢ial statements at cost including incidental costs such as professional fees. Investment properties are then revalued periOd￿lty to market value with gains and losses credited or charged to a revaluation reseNe. class'ffied as restricted or unreslricled according to the original nature of the funds used to acquire the property. Church Land and Buildlngs The land upon which all together with the contents of the churches, most of the Area church haSls and the par50nages. are vested in Ihe Representative Body of the Church in Wales. As these, nor their conlenls, are vested in the Ministy A￿a they do not appear in the accounts of the Ministy Area. The Mirsisty Area pays for all maintenance expenses of the church halls. along with the maintenance of individual churches within the Area. Signrficant improvements for any buildings which are not consecrated. such as church halls, are capitalised as part of fixed assets. Cost includes original purchase price plus any costs ditectly attributable to making the asset capable of operating as and where intended. 14 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 STATEMENT OF ACCOUNTING POLICIES (Continued) Tangible fixed assets Tangible fixed assets are capitalised rf they can be used for more than one year and aff stated at cost less accumulated depreCiat￿n. Tangible fixed assets are stated at cost ￿sS accumulated depreciation and any accumulated impairment losses_ Cost includes orginal purchase price plus any costs dI￿¢11Y attributable to making the asset capable of operating as and where intended. Depreciation is provided at rates. in order to write off the cost. less estimated residual value. of each asset on a systemab¢ basis over it5 e5b'maled useful lite. DepreCia￿n is provided on-. equipment at the annual rate of 15% and 250h reducing balance in order to wrtle off each asset over its estirnated useful life. leasehold improvements over 10 years from the date of the improvements completed. Investment assets Fixed asset investments in The Representatwe Body of the Church in wa￿ ComtTr)n Inveslment Fund or other Charity Inveslment Vehictes are valued init￿llY at original purchase cost and subsequently at their market value at the year end with any gains or losses going through the SOFA Amounts held at recognised UK banks are clasSif￿d as cash at bank and in hand. Debtors and credltors receivablelpayable withln one ygar Debtors and creditors are recognised and rneasured at cost with no stated interest mte and receivable or payable within one year are recorded at transaction price. Any k)sses arising from impairnknl are recogni5ed in expenditure. Cash Cash consists of monies heki in Ballks by each of the Churches together with the Area plus, cash in hand al each of the individual churches F￿u$ fvnds held by the Representative Body in bank a¢¢ounl. 15 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 STATEMENT OF ACCOUNTING POLICIES (Contlnued) INCOME Income is recognised in the Statement of Financial ActiV￿eS (SOFA) when the charity becomes entitled to the reSoUr￿s, it's n￿re likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability. The following specifies the policies applied and the main types of income that are included within the particulaT categories of incoming resources." Colle¢tion The Ministy Area received its main incon* from the Direct Giving of rts Parishioners and there are three main categories of this direct income= Gift Aided envelope whictt is remitted etther by the use of a specialty designed red envelope at a Church Service offertory collection. by direct paymenl to the Benefice Covenant Secretary or credited direct by bank transfer by Direct Giving Casual Gfft Aided contributions which are enclosed in the newty designed envelopes. which are signed and handed in at a Church Sery￿e offertory colkntK)n. Cash - oftertory colle¢lions at a Church SeNice. Grants and donations Gmnts and donations are only included in the SOFA when the general income recognibon criteria are met on a perfomiance basis. Legacies Legacies are included in the SOFA when the receipt is probable. that is, when there has been grant of probate, the executors have established the￿ are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Tax reclaims on donatlons, glfts and legacles Gift aid receivable is included in Incorne where there 15 a valid declaratr.on from the donor and is recognised when the claim is successfully received. Any Gift Aid amount recovered is considered to be part of the original donation and as an addition lo the same fund as the inrtkgl donab.on unless the donor or the terms of the appeal have specified otherwise. Incorn? from intsrest and dividends The benefice has tsvo main sources of investment inconE and is included in the accounts when re￿Ipl is probable, and the amount received can be measured reliabty.. Surplus cash resources are invested in Bank Deposits Trust Fund captt21 ts invested in the Common Investment Fund, which is a Managed Fund under the control of the Representative Body of the Church in Wales. This is an income pr￿￿CIng account with a Capital growth potenb"al. The Benefi￿ Churches invofved received a quarterly income payment from the Representative B(yJy. Investment galns and losses This includes any realised or unrealised gains or losses on the sale of inves￿ntS and any gain or loss resulting from ￿Valuing investments to market value at the end of the year. Volunteer help The value of any voluntary help is not included in the accounts but is described in the twstee's annual report. 16 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 STATEMENT OF ACCOUNTING POLICIES (Continued) EXPENDITURE Expenditure is accounted for on an accnjals basis inclusive of VAT which is not recoverable as the organisation is not VAT registered. Liabilities are recognised where il is more likely than not that there is a legal or constructive obligation committing the charity to Pay Out resources and the amount can be measU￿d with reasonable certainty. The charity has ¢￿itorS vthich are measured at Ihe amounts due in settlement. TAX The charity is exempt from corporatton tax. SIGNIFICANT JUDGEMEfrrrs The majority of income and expenditure is based on cash rrKJvements through the bank account. There are therefore limited judgements In the overall accounls. These iudgements include= estimates of the value of investment propety an estimate of the usefvl life of tangible fixed assets eslimales of expenditu￿ incurred, but not yet billed at the time of the accounts recoverability of debts. including debts Irom rental of assets and gift aid. A key judgement area Is ensunng restncted fvnds are correctty identified and that the allocation of expenditure lo individual restricted funds is in accordance with the terms of that specific fund. The Trustees are continuing lo investigate brought forward funds lo determine the details of all reslriclions as identified in individual notes to the accounts. 17 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 NOTES TO THE ACCOUNTS INCOME Unr•strlct•d Restrict8d Funds Funds 2023 Unr•ytrieted Regtrictèd Funds Fun(ts 2022 Tolal Totsl Donations. Legacies and Grants Planned Giving Loose Colleciions Tax Refijnds (Gift Axl) Donations Leg￿leS Grants 80.471 19,598 18.440 80.471 19,598 18.440 10.163 100 83.420 12,D43 18,457 16,031 325 83,745 12.043 18,457 17.082 118 1,051 118 1CX) 15.6(KJ 17.169 820 128.445 145.614 130.771 86,301 217.072 Charltsble Activities Feés - Baptisms. FU￿ra1$ aThJ Weddings Hall hire Money R￿sing Evènts 6.185 4.197 12,382 13.781 5.337 19,118 8D278 60.278 690 45.714 45.714 Income Fr¢m Inveslments Investment Property Inwme Fixed Asset InvÈstmèM In￿me Dèposit Account Interesl 28.876 23,135 4.417 28.876 23.647 40,169 8.329 658 40.169 8,656 512 1.756 327 1,439 49.1 SO.922 Other Incomg Other Incoming Resource5 Covid related grantfrom Diocese 1.713 1.713 3.845 12.267 16,112 1,108 4,953 12.267 1.713 Extraordinary Income Merger of Parishes 615.820 615820 615820 615.820 Extraordlnary Income Extraordinary income relates to the integration of a nwnber of patishes into the charty. The existing Parishes weie joined on 1 January 2022 by the churches of All Saints Penyfai. St Crdlkjs Coychurch, St Davids Laleston, Sl 51Jtyds New¢asUe and St Teilos Merthyr Mawr. At 1 January 2022 the net lund5 In of parishe& were tiansferred as rèstricted furLds to the combined Ministry Area. These openirwJ hJnds are then being applied, el(her in line with individual rèslri¢ti¢n$ Irorn the original donor, or for use in Ihe general expeThYtture of the sFeiyfic chuich. induding ¢ontribuions to the parish share. The transfers were: All Saints, Penytai St Crallos, Coyehurch St Davids, Lalèston St Iltyds, Newcastye st Teilos, Merthyr Mawr 187.$97 61,524 72,202 138,5rM 155,993 615.820 •The r￿ricted and iotal incotnc comp8raiive figure5 hav¢ been wJjuM¢d to retl8ssifs' a VAT reftsnd from money raising ev￿¢5 las part of Charitable Aciiviiie5 incom¢l lo grants las part of I￿￿10n& Le8acies and Grantsi ror£22.585. 18 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 EXPENDITURE Unrestricted Restrfcted FurKIs Funds 2023 Totsl un￿tricted Restrlcted Funds Funds 2022 Total Charltablè Aetlvltl•s ExpèrMlilur• Support for Ministry in¢ltJding parish shar Ministry Area parish share rebate Mainlenance of ServrEs General Parish Expenses Maintenance ol Churches M8jnlen8r￿ of Propèrty M18sion (Donations) Depreciation 72.302 119.2291 5.130 74,347 85.694 157,996 {19,2291 5,130 92.363 58.714 60,491 3,416 3.000 361.881 81.045 165.411 112,9391 S,8S9 76.822 47,228 189.094 5.323 112.9391 5.859 75,939 44.029 36,937 2.323 3.000 239,514 18,016 12,369 883 3,199 152,157 3,000 26.687 416 152.883 240,284 479 798 Other Expenditure Leg81 and Professional 10,309 10.309 MAINTENANCE OF MINISTRY AND RELATED PARTY TRANSACTIONS To fund the provision ot Ministy, the Ministry pays a 'Parish Share" to the Diwese. This Parish Share was split and allo¢ated be￿eeft ea¢h ¢hur¢h as agreed wrthin the Area. The total charge for Parish Share for the Area wa5 £153.87312022 - £154,491). During the yearthe area received a rebate ftir the parish sharefrom the diocese of £19,22912022- £12,939). The total amount outstanding from the area to the diocese at the year end was £Nil12022 £Nill. 19 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 MISSION The Ministry Area recognises that an important part of its Christian Stewardship is to financialty support the work of Church Missions. Christian Charities. Social and Emergency appeals. The amounts paid out for mission and charity donations in the year totalled £3.41612022- £5,323). LEGAL AND PROFESSIONAL Amounts includ& in the accounts due to Independent Examiners, including VAT. for.. Independent Examination Accounting £4,200 (2022- £3,600) (2022- £3,600) CLERICS AND TRUSTEES TrANSACTIONS The Ministy Area pays the cost of all expenses incurred by the Church in Wales Clerics and Church Wardens in the performance oftheir Parish duties. The amunts paKI to Cleri¢s were £9,25212022- £7,809). including £Nil12022 - £5251 of baptism, funeral and wedding fees and £5.721 12022 - £4,199) for re-imbursement of water rate5, electrfcity and gas to 3 (2022 - 2} individuals. The amounts paid io vergers totalled £Nil12022 £Nill. Other trustees received expenses totalling £Nil12022- £Nil) for reimbursement ofexpenses incurred relating to the general running and administrative costs of the charity. Other than detailed a&ove, the Area does not pay any remuneration to the Church in Wales Clerics. The clergy team, including the Dean, are remuneraled by Ihe Llandaff Diocesan Board of Finance. No payments were made to other Twstees for remuneralion. Some trustees give anonymously to the chanty via the weekty ChU￿h Coliections. Specific donations from trustees with conditions attach￿ totalled £Nil 12022 £1.000 which was included in the restricted fvnd income for use in the maintenance and renovation of church buildings). WAGES AND SALARIES Durlng the year the area employed an average of 4 (2022- 4) part tr.me employees at a total cost ot £49,170 12022 £42,6351- The total cost included £Nil (2022 - £1,862) of employerfs national insurance cosls and £52612022- £3261 of employerfs c()ntributions to ￿[Sonal pension schemes. The estimated number of equivalent full empk)yees for the year is 2 (2022 - 21- A Iruslee resigned in the previous period to accept a paKI role within the Ministy A￿a, and their costs are included above for 2022 and 2023 as an employee. No employees earned over £60.000 {2022 - Nil). OTHER INCOME AND EXPENDITURE Income includes govemment grants ot. 2023 2022 Central government grants Other govemment grants 10,600 37,837 Total grants including the above of £16,842 {2022 - £75.309} were received in the year. of which £15.OCN) 12022 - £59,584) related to work done on St Teilo's Churchyard and Su￿OU￿dIng grounds12022 Church and surrounding ground51- 20 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TANGIBLE FIXED ASS￿5 Leasehold rove￿EntS 2023 Total 2022 Total Pro Cosvvaluation brought forward Adjustments Mer9er Cost carried forward 100.LN)1 30,000 130,001 100,000 30,001 130,001 30.000 130,001 Depreciation broughl lo￿ard Depreciation in year Depreciation carried fO￿ard (3.000) 13,0001 3.000 3,000 6,0(N) 6,000 3,000 3,000 Net Book Value brDughl fo￿ard 100.001 27,OOD 127.001 100,000 Net Book Value carried forward 100,001 24.000 124.001 127,001 The land uwn which all churches together wtlti the contents of the chur¢hes, mosl of the Area church halls and the parsonages, are vested in the Representative Body of the Church in Wdles. As these, nor their contents, are vested in the Ministy Area they do not appear in Ihe accounts of the Ministry Area. The following propertres are, however. polentialty believed to be held for the benefft of the Ministy Area.. Nolton Rectory and Church Hall The beneficial ownership of this land and propety is eurrentty being determined. It is currenlty understood that the Ministry Area is nol the beneficial owner of the prope￿eS and therefore no amounts are included in the accounts in relation to these buildings, although shown in ihe 2021 accounts- in the notes lo, bul not the Statement of Financial Affairs. al a cosl of £638:000. Estimates of the current valuab'on a￿ significantly lower than this original figure. Coity Church Hall The beneficial ownership of the Hall is currenuy under investigalb)n. bul it is currentty understood that the Ministy Area is the beneficial owner of the proFety. The original cost of this propety cannol be lully detemined. although Shown in the 2021 accounts - in the notes to, but not the Statement of Financial Affairs. at a cost of £507.168. Dueto the uncertainty surrounding this cost, Coity Church Hall is included in the accounts at valuab'on for balance sheet purposes of £100,000. The valuation was undertaken in the previous year by Watts & Morgan, Chartered Surveyors in accordance with RICS valuation rules effe¢b've asal 31 December 2022 as a freehold propety. Watts & Morgan confirm they believe there has been no material change in this value during the current year. In the prior year, the cost of Coty Churth Hall. was classified as unrestricted. Further investigation has r)ot identified the original source of funds for the Hal: and therefore. while conts"nuing lo investigate the beneffcial ownership of the Hall, the valuation has been reclassified as iestrKted. A Significant proportion of the value of ihe Hall is considered to be the ￿nd on which the propety is based. No depreciation Is charged on Ihe land. The useful life of the Hall is considered to be in excess of 20 years. Accordingly no depreciation on the balance of the valuation ha5 been included in the accounts as it is consid8red immaterial to the overall accounts. 21 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 TANGIBLE FIXED ASSETS CONTINUED Laleston ch￿￿h Hall Laleston Church Hall 15 held by the Representative Body of the Church in Wales as custodian trustee for The Ministry Area under terms of a 999 Year Lease which include covenanls that render the Lease valueless lo the Ministry Area under the required RICS assumptions as to baL3nce sheet values. The lease is included in the accounts at a nominal of £1. Leasehold Improvements to the pro￿ty al an apportioned esb"mated cost of £30.000 were made in 2021 prior to the merger. These improvenEnls are being depreciated over a 10 year estimated useful life. 10 INVESTMENT PROPERTIES 2023 2022 Valuation brought forward 563.677 447.500 Additions Revaluation Total carried forward 116.177 I82,5(￿1) 481.177 563.677 Leominster Property was purchased in 2015 for£442,026. In the opinion of the trustees the current valuation of the property is £365,00012022 - £447,500). The original source of funds, and therefore the net income, is believed to be restricted for use in Coity and Nolton parishes. This is a change in classification the propety, which had previously been believed to be unrestricted. and therefore this property has been reclassified as restricted. Port Talbot Propety was purchased in 2022 and is therefore inClud￿j at cosl which also represents the trustees estimate of market value at the year end. The proceeds used to acquire the property are believed lo be restricted although further clarification is being Sort - and therefore this property is classified as restrbcted. Since the year end the property has been disposed of at a sum 5imiUgr to the original cost 11 FIXED ASSET INVESTMENTS The long-term investment of the Ministry Area consists of monies that have been donated or Wueathed to the Benefice andlor one of its churches by parishioners and also Stock issued by the Goveming Body of the Church of Wales under the Tithe Act. The use to which sonE of these capital and income items may be put is restricted to the speciffc terms of the individual Trust Deed_ The majorty of this money is under the control of the Represenlative Body of the Church in Wales in ils capacity as the Special Trustee of all the Deeds and is invesled by the Representthe Body In its Commor) Investment Fund, which is a Managed Fund under its supervision. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 11 FIXED Ass￿ INVESTMENTS ICONTINUEDI 2022 2023 Mathet Purchasel Shares Value Fund D￿￿SaL% No Shares Val Held at Representative Body- Common Investment Fund Coity. Nolton andllinistyArea (All ￿lIgiOuS purposes investments ¢￿tsIn￿d￿ current yearand¢ompa**lves amentled) Religiou5 purwse in general but prinarity for Ihe use in C¢W and Nollon Parish Capital Accu￿￿1￿ irKLYne 411.477 862.291 25.967 437.444 967.845 23.446 49.133 (23.4461 5,284 20,497 Lega¢y hekl foi le1￿￿)Us PUtFx]5e5 ￿ ge￿￿1 Cash fotf&inve5trnent 9,781 9.781 21.640 4,¢X)8 8.399 Maintenance ofgraveyard St CraNo'4 Coychurch laintefflance of Church Churchyard General church purposes Mainlenanc8 01 6.237 Church aTrJ Churchyard. Maintenance of Wesl Mwrnrial IMTrJr** 4,008 8,868 2,976 2,976 2.418 1.154 2,553 3.501 7.337 Accumulated income 158 3.659 136 Cash for ￿.1￿vestme 71 All Salnts Penyfai ainten8T￿ ofchurch 8uiTrJm95 C3pi131 15.863 37.n7 33.242 79.165 15.863 35,097 88,301 AccuTh7u13ted intome 2.133 39.910 1.9a8 Cash fori&in¥estment 609 2,373 4.973 Mainlenance of Churchyard 5tDavid& Laleslon 2,373 5,250 Char￿1 repairfvnd CapSts1 AccumuLitsd intome 614 1.285 614 1.358 705 1.477 109 814 1.801 163 Cash fOrr&in￿tMent 23 1.083.945 SUl￿t0¢al 1 148.096 Held at Church Stmarys. Coity Maintenance of graveyard-COIF ChariiEs 18.677 In¥eslment Fund 20.393 St Tell04 Ilerthyrldawr 55.140 LGT In￿StMent fund 59.058 73 817 Sub TotJl 1 157 762 Tota15 23 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 11 FIXED ASSET INVESTMENTS ICONTINUEDI coStymo￿c Mirxstry Area Newrastl? C0y¢hu￿h erthyr La•stofi Mawr Penyfal Total Al 1 January- original 8.399 16.128 119.288 2.925 55,140 1,157.762 Incorne rela￿ed in portfobo 270 3.206 3,565 Revaluation 6.763 168 3.918 66.220 1 009 878 59.058 Restricted Re5tri¢led- Endowment 554.234 8.166 88.910 1.824 59.058 712,192 9.138 40.347 493,715 988.238 17,304 129.257 3,182 69.058 1,20S,907 Unrestricted 21.640 See Nrts 14 1.009.878 129 257 69 OS8 1227 547 Movemen Bro￿￿1 Brnt￿t RestrKted 220.557 448.815 669.372 16.542 112.977) 39.255 711192 Restrthd- endowrrEnt 455.954 11.939 467.853 10.158 {10.158) 25.822 493.715 Restrictsd 676.511 460.754 1.137,265 26.700 P3.135) 65,077 1.205,W7 Unrestricied 481.251 512 512 21.640 Total 1 157 762 66 220 1 227 547 24 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 12 DEBTORS 2023 2022 Other debtors (rent due) Other debtors were classed as unrestricted, but as they relate to the Leominsler property. have now been reclassified as restrKled. 13 CREDITORS 2023 2022 Accmals Other creditors Including tsx and Social securty 4.200 1.200 5.400 7,561 838 All a¢¢ruals and creditors are dassed as un[eStr￿1ed. 25 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 14 RESERVES The Ministry Area aims to be at least break-even in fLrture yEats so that its reserves a￿ maintained so that ffixed asset investments are only drawn down for major cathl expenditure. 1 Jan 2023 Adjusl Adjusted 1 Jan 2023 NDt Incorr IIExpendèturel 31 Doc 2023 (D￿PoSal51 Flxed A5s8ts Inwestrnenl Prope 447.xrfj 82 5LKI Tangiwe r￿e￿ as5ds- prwerty St Dav￿$. La￿ton Coity Hall 27,001 27.001 (3,0￿) 24.fyJ1 100,000 100.IX)O 100.(X)O Investsnènts Religious Purpose> for Coty and Nottan parishes Mainlenanc? of ¢hurchyard and buik1ings'. st Marys. C St Iltyd$. Newcast St Cra1105. Coychurch I Saints. PeThyfai St Davids. Lak5ton For use in parish St Teilos. Mertltyr Mwwr Total Investments 455.954 460.754 916.708 51.137 967,845 18,677 8,399 16,128 119.288 1925 18.677 8J99 16,128 119288 1.716 469 9J6 6.763 168 20,393 8,868 17,304 129.257 3,162 270 3.2( 3.918 65.077 S9.058 676511 460.754 Oth&r (WOr￿vrO￿lI0 9.625 Cash Brack12. Corty and Nolon parishe5 Maifiienan¢e of churchya and bwldin95 St I￿¢￿. Newca5l1e St Cra1105. Cvychurch All Saints. Penyfai StTeil)s, Merthyr M¥*ir OIIEr 5pEcffic pu￿05e5 within parishes St David$. Laleslon St Tedos, Merthyr Mawr Tron$fer of opening balar for u$e on pari$h expenditu st ltyd5. Newcast I Swnts. Penyfai SI TBibs. Merthyr M￿r Total Cash 124,112 124,112 140,2941 83,818 4.105 29.924 652 53.03S 4.10S 29,924 I8￿} 12,9091 952 464 3,Z99 27,01S 1.604 53.499 53,035 7.008 1.219 1.219 86,392 28.695 86.392 28.695 3,425 86,392 11.03D 117.6651 3.425 62,464 337.348 Total Restricted 1157 037 1 017879 2 174 916 2 085 969 Unrestricted Inve51rnent propety Tangible fixed assets Inveslments a8h Debtorslcreditors Total unrestrl¢ted 447.sc loo.000 481,251 120,010 1447.5001 I100.￿0) 1480.7541 20.497 120.010 8.399 1.143 13.8181 2.999 324 21.640 116.192 5,400 132 432 9.625 1 IM7 879 1 149 987 Total 2,307 024 2 218 401 The re$lridions regarding the investment tY¥4)erty (xsh held in Br&*la. Coity. Ndton and St Iltyds are under invesligaticm) to detemine their exact T￿t￿re fr￿) the thwjinal souree of the fijnding. MINSTRY AREA PENYBONT AR OGWR Accounts 2023 The prior year comparatives shryw.. 1Jan 2022 Adjust AdJusLed 1 Jan 2022 P*rger Addition IDi$posaLg1 Net In¢omtt I(Expenditu￿> 31 Dee 2022 Rostrlcted Fixed Assets Investment Property 116 177 116.177 Tangib￿rLxed 3sset5-prapetty Sl Davi(ts. Laknton JO.C(11 Investments Religious Purposes for Corty and Notton parishes endowment Main(enanc• of churchyard 2nd buildiws.. Sl Mary5, Coty SI INyd5. Newca51 St Cralbs, Coychurch All Saints. Penyfai St Davh1$. La￿stOn For use in parksh SITeilos. Merthyr Mawr Total Investments 241.275 212.703 453.978 50.oro 148.0241 455.954 10.676 10,458 21.134 12,4571 19851 11,8721 113.7631 132SI 18,677 8.399 16.128 119.288 2.925 19.759 133.051 3.251 11.7591 113.131 48.0 241 251 951 223 161 475 112 676511 Cash Brackfa. Coty and Notton paThshes Maintenance of churchyard and buildiws St IKyd5. N8wc851 Sl Cralb5. Coychuich All Sain15. Penyfai St Davvjs. Lale5ton Sl Teilos. Merthyr Mawr Other specific Pu￿05eS within parish 320.108 (71.5651 248.543 1116.17n 18.2541 124.112 1259 28.8 6.e81 970 4.105 29.924 652 1.028 16.2091 19701 129.9521 49.759 53,035 St Da¥￿s. La￿Sten Transfer of opening balan￿$ for use on parish expendrture St Iltyds. Newcastle st Crsllos. Coychurch All Saints, Penyfai st Day￿S. La￿stOn St Teilos. Merthyr Mawr Totsi Cash 17. 110.8921 7,008 127.862 12.867 47.686 41.4701 112.8671 86.392 28.695 12D.0801 6.209 152020 320 108 418 337 348 Total Restricted 572 059 723.655 1 157 037 UnrBstri£lBd Inve$tmenl proptrty Tangibfe fLxed assets pioperty Investrnen Cash Deblorslcredrto Ttstal unr8strlcted 447.X 447.5rM> 1C(I. 447.500 100,000 246,275 102.107 1.140 329.027 575.302 702.107 1.140 150.OCQI 144.0511 17,903 481,251 120.010 1 149 987 Total 256 220 2 307 024 The restrictions regarding the invèstrnertt pro￿rty arnl cash held in Brackla. c￿ty. Ndltsn.Sl ltyds and St Tedos ar8 under investigation to detèmiine thèir exact nature from the ￿lginal Sour￿ of the lunding. Transfers of £S0.OCQ repiesenl use of unrestricted investment funds held by RepresenlatNe Body to purchase restricted endowments funds_ Thi5 is oftset by transfer of£9,1CK> spendingfrom restrictèdfunds resulting in a net transfer in the Statement of Finanaal Acl1vit￿& of £40.￿). 27 MINSTRY AREA PENYBONT AR OGWR Accounts 2023 15 FUND TRANSFERS The Trustees have been investigating the restricbons, including were possible obtaining copies of wills relating lo the original donations. This ha5 resulted in the following reclassificab.ons to last years opening position wh￿h are shown as transfers during 2023_' Note Coity Hall Investment Prowty Coity, Nolton and Brackla- fuKI for rdigiou5 purposes Investment Property Rentsl Debtor Totsl reclassifications 1￿,000 447.500 460.754 9,625 1.017,879 10 11 12 14 As detailed in Note 9, the ownership and valuation of Coity Hall ss undetermined. The hall has therefore een shown and reclassified a5 restricted in the current year. Funding for the Leominster Propety- and The Port Talbot propety - is believed to have been derived from a number of sour¢e$. principally the sales of property in Notton and Coity which. in lum, it is believed were originalty purchased by utilising fvnds reslricled for use in Nolton and Coity. Therefore, the Propety has been elassified as restrtcted while frjrlher investigations are undertaken. Further infomiation has been obtained on an investh*nt held for religious pur￿seS and it is now understood that the fund can only be used for the Church to which it i8 donated. It has therefore been reclassified as restricted. As the investment property which last years rental debtor related to has been reclassified as restricted, the rental debtor has been reclassified as ￿stricted accordingly. 16 COMMITfiIENTS The charity had operating lease commilrnents of 2023 2022 Due within one year Due between 1 and S years 1,396 4,886 6.282 3,806 6,216 The charity made payments under operating leases in the period of £5.413 {2022- £4.4891. The charity had no capital commitments al the year end12022 - £Nil). 28