CHARITY NUMBER 1136081 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR EAST CARDIFF MINISTRY AREA EAST CARDIFF MINSTRY AREA Accounts 2023 CONTENTS Ch8rity Information Truste8'8 ReFX)rt: 3-6 Report of the Independent Examiner statement of Flnanclal Activities Balance Sheet Statement of Accounting Policies 10-13 Notes to th8 Accounts 1&23 EAST CARDIFF MINSTRY AREA Accounts 2023 CHARrfY INFORMATION Charity Name East Cardlff Ministry Area Registered Charity Number 1136081 Principal Address All Saints. Churth 256 Cyncoed Road CARDIFF CF23 6RU Contad Details Tel: 029 2075 2138 Email: admin@eastcardiff.church Website: eastcardiff.church Charity Trustees Ex-Orri￿O The Revd James Henley (Cwhair) The Revd Anthony Beer The Revd Rosemary Hill The Revd Marja Flipse (appointed S8Pt8mber 2023) The Revd Gareth Rayner-williams (r8slgned April 2024) Thé Revd Tina Parry Rhys Collins {Churchwarden) Philip Jones {Churchwardèn - transferred to 8X-offldo member June 2024) Elected Maureen Archard John Bon8118 (appointed June 2024) Louise Brownsey Patrlda Chartes Elizabeth Collins (appointed June 2024) Matthew Collins (retired June 2024) Sally Davies Iretlred June 2024) Helen Dham)asena Susan Fergusson Caroline Harfield Rosemary James {safeguarding Offi￿r- retired June 2024) Jennet Mundy Jennrfer Perry Lesley Read Suzy Collins (relired April 2023) Zoe Ward (retired April 2023) Vicky Smith {retired April 2023) Co-opted David Evans (Previously Churchwarden- transfe￿ed to c(Fopted member June 2024) Claire Ingrams {Secretaryl Matthew Turner Icowchairl lan Loynd Hannah Leoni Oxenham (Safeguarding Officer- appointed July 2024) Rebecca Williams {transferred to COwOPt8d m8mber June 2024) EAST CARDIFF MINSTRY AREA Accounts 2023 TRUSTEE'S REPORT The trustees have pleasure in presenting their report and financial statements for the Charity for the year ending 31 December 2023. Objectlves and A¢tivities The objectives of the Charity are achieved by promoting throughout the Ministry Area the whole mission of the Church. pastoral, evangelistic, social and ecumenical - within our parish. This includes the following: Conducting regular Christian worship including the Holy Eucharist, marriages, funerals and baptisms. The provision and maintenance of the fabrtc of the churches. churchyards and associated ￿lIdingS which we are responsible., The maintenance of Christian burial places., Promoting the study of Christian teaching, practices and Scripture", The provision of means and encouragement to promote fellowship within the membership of the churches and the wider cnmmunity: Pastoral care and visiting the sick & dying. Fostering ecumenical links between diflering Christian denominations; Supporting the W￿rk of other charities. In preparing this report. the Ministry Area Council have considered Ihe guidance issued by the Charity Cornmission on public benefit. In each decision made, we have sought to weigh up th8 benèfil andlor detrim8nt both for those who joln us for public worship within our congregations and those resldent In our communlties. Monies are raised by freewill offertory, fundraising activiti8s arKI specific eppeals. These ar8 usèd lo support the work and administration of the churches and wider mission. Both the Ministry Area. and its constituent local churches, ¢onlinue to actively incr8as8 att8ndan¢e and develop mlsslon work In the community. Many of those involved in th& main functions of the churches are volunteers. The Ministry Area is grateful to all ot those who freety give of their time on a voluntary basis. Achievements and Perfornianco During 2023, the East Cardiff Ministry Area continued to develop our plans lo grow the mission of the Church across our communit18s. This included the adoption of three new missional intentlons: to stand for justice, to act with compassion and to walk in faith. These overarchlng aims provide a framework for the achievement of our legal charitsble objectives. Whal follows is a summary of our achievements during this past y8ar. Stand forJustiGe Establishing a new 'Open Table, ¢ommunity in East Cardiff as an inclusive service for all, especi8lly those who are LGBTQIA+ This launched in July 2023 and has since been well attended. Suc￿SsfUllY adopting and integrating the 'Puffins' project to support local families in need. originalty founded by St Teilo's CIW High School. Arranging community organizing training. in partnership with Together St Mellons and Citizens Cymru. Establishing a Speakeasy centre based at St Teilo's, whtch provides free legal advice to local residents. Raising upwards of £5.000 towards the work of local and global charitie5 and mission projects. Act with Compassion Organising and delivering a number of events open lo all, bui particularly catering for children and families, including the Easter Eggstravaganza. Summer event and Hallowe'en party. Arranging a number of successful social events to bring together both volunteers and wder congregation members from across the different churches. Establishing a weekly youth club at St Teilo's. Training and commissioning six new Lay Pastoral Wisrtors, to visit those who are sick and housebound. Establishing ragular serVi￿S in ￿ local care homes. to meet the spiritual needs of their residents. Developing a number of spac8s for belonging and welcome during the week across the Ministy Area, induding th8 social club at st Dyfrig's Llanrumney and Coffee Morning at St Augustine's Rumney. Progressing the All Saints, Cyn¢oed Centenary Projecl, which has created a fl8xib18, welcoming and a¢￿ssible church space more conducive to our mission. EAST CARDIFF MINSTRY AREA Accounts 2023 Walk In Faith Continuing to develop enriching, engaging and a¢¢essible liturgy and musl¢ across our churches. which resulted in a net In¢￿aSe of 9Q/i in our 2023 regular Sunday attendance, compared lo thè prèvious year. Hosting a numb8r of well-attended joint services, induding the Revd Tina Parry's flrst celebratlon of the Eucharist following her ordination as priest. and a summer Songs of Praise service. suc￿$$fullY re-launching our Iwo Sundays schcols in Rumney and St Mellons, after their suspension during Covid-19 and lh8 recent interregna, recruiting new volunleers and welcoming new families. Hosting 65 baptisms and five weddings, which have brought us Into contsct with approximately 3,500 people, the vast majority of whom are rK)t regular churchgoers. Leading 61 acts of collective worship for over 1.000 local children across six primary schcKJls (four church schools and kn LA maintainod schools). Developing our social media presence, including weekday 'Daily Prayel videos, reaching around 20.000 people each month. The trustees have also identified a number of challenges below, which will guide future plans for the continued development of our mission and ministy- ChaNengas Reaching out to younger generations. who ar8 currenuy under-represented in a number of our congregations. Offering more activities and opportunity for community engagement outside of Sunday worship. Developing our culture of pastoral care, to ensure all congregation members feel supported and cared for by one another. Continuing to develop our links with local sodal Just1￿ projects. and increasing the awareness of these amongst congregallon members. Renewing our Christian witness and worship in the Pentwyn community. following the relu¢tant decision to suspend regular s8rvic8s at St David's Penwn due lo low attendance. Strengthening and diversifying our In￿rne. in order to safeguard our finances (see below). Changlng any negative perceplions of the Church which some people in our wider community mlght have. Continuing to emb8d Ihe relatively new changes to our stru¢ture and culture. following the formation of the Mlnistry Area in January 2022. Updatlng our church not1￿bOardS with new information, and improving our physical advertising of seNices and events. Revitalising our ecumenlcal work wlth churches from other Christlan denominations. Flnanclal Revlew Despite efforts to improve our income through an Increase In regular giving, the Annual Accounts for 2023 show a deficit of £214.608. Once extraordinary expenditure is eliminated. primarily as part of the All Saints. Cyncoed Cenlenary Project, this shows a nel deficit of approximately £52.000 in our Core budget. As this financial position became clear during the past year, the trustees have drawn up and agreed a comprehensive 'Stewardship and Fundraising Plan,. whose progress is being overseen by a small task group. The plan contains an ambitious aim to cut our operating deficit by £40.000 during 2024, both by increasing and diversifying our income streams and. where possible. achieving small reductions in our expenditure. The trustees are gratefijl to offi￿r$ of the Diocesan Board of Finance for their ongoing support in the shaping and implementation of this plan. Although the Ministry Area has carried foThvard current assets of approximately £179,077, only £45,827 of these are unrestricted. The total unrestricted funds show a deficit of £25.396 which includes a balan￿ of £98,140 owed in outstanding Ministry Share to the Diocesan Board of Finance. Of this balance there was a reduction to £70,640 following the final quarter payment in early January 2024. In order to redu￿ the deficit, the budget ft)r 2024 is based on a breakeven overall budget, utilising restricted funds for maintenan￿, missron and other activities so that there is a surplus on unrestricted funds for 2024. The Diocese is continuing to support the Ministry kna by deferring payments on the outstandirKJ creditor as required. Accordingly the accounts are prepared on a going conc8m basis. EAST CARDIFF MINSTRY AREA Accounts 2023 Structure, Govomanco and Managomont The East Cardiff Ministry Area comprises the five churches of All Saints, Cynco8d, St Augustine Rumney. St Dyfrig Uanrumney, St Edeyrn and St Mellon" and congregations All Saints, Llanedeyrn and St David's Pen￿ - based In local Church in Wales primary schwls. Regular services at St David's Pen￿n were suspended at the end of 2023. The Representatlv8 Body of the Church In Wales holds the land and propety of the Church in Wales, they are an exempl Charity set up under Section 1312) of the Welsh Churches Act 1914. They act on behalf of the province in paying th8 Stipends of the fulktime dergy and administering the Church in Wales's scheme of gift aid. The Ministry Area Council act as Parochial Church Coun(al and Charity Trustees for the entire Ministry Area. It is not a body corporate, and its composition. procedure and powers are regulated by the Constilution of the Church in Wales. Trustees are elected Annually. The Licensed Clergy Team for the year consisted of the Ministry Area Leader (James Henley}" three Wicars (Anthony Beer, Rosemary Hill, Marla Flipse). an Associate Priest (Gareth Rayner-williams) and an Assistant Curate (fina Parry). The Revd Marya Flipse was appointed as Vicar in September 2023 and thè Revd Gareth Rayner-williams announced his appointment to a new role. and resigned from the team at Easter 2023. Dey-to-day operations are delegaled to the clergy team. assisted by volunteers. The Ministy Area has administration support of an Administrator who is employ8d part-time by the Ministry Area. During the year bookkeeping was also undertaken by the admlnistr8tor, but sinc8 th8 year end Diocese have provided substantial assistance in this r8SP8Ct. Recruttmènt and Appolntmont of Trusloes Truslees are appolnted to the Ministry Area Council as provided for by our Standing Orders, and as provided for by Chapter 4C of the Constitution of the Church in Wales: The 8x-offido members include clergy Il¢ensed and appolnled by the Bishop of MonmoLrth, as well as Churchwardens, At the Annual Vestry Meeting, each year on8 Churchwarden is appointed by the Ministry Area Leader. and the Other is elected or re-8lect8d 8ach year by the lay members of the Ministry Ar&a's Electoral Roll. The elected members are elected or re-elected by tha Annual Vestry Meeting, with two members representlng 8a¢h church in the Ministry Area. Th8 CO-OPt8d members are appointed by the Ministry Area Council, to contribute particular skills or expertise that the trustees feel would be beneficial to the overall governance of the Ministry Area. The trustees are provided with ongoing training and guidance in the fulfilment of their responsibilities and legal obligations throughoul the year by the Ministry Area and the Church in Wales. They are also requirement to undertake the relevant Church in Wales safeguarding training. Trustees with specific responsibilities (eg. chair. treasurer, safeguarding officer) are provided with additional Diocesan support in the fulfilment of these duties. Reserves Policy The policy of the Ministry Area Council is to make use of restricted funds wherever possible. particularly in relation to expenditure on the maintenance. repair and development of church buildings and other property. Over the Icng term. Ihe trustees aim to return to a surplus budget arKI increase the charity's unrestricted reserves, which can be made available to deal with any unforeseen or unplanned events as and when they arise. Historic legacies and b8qu8Sts made to the churches are held in the form of shares in the Representative Body of the Church in Wales (RBCiW} Common Investment Fund. According to the investment policy of the RBCIW, these are couched in a balanced range of Investments. in order to achievè 8 healthy and s8cur8 retum. These investments are held for the long-term to use in accordance with requirements of the original donations. EAST CARDIFF MINSTrY AREA Accounts 2023 STATEM￿ OF MINISTRY AREA COUNCIL RESPONSIBILMES The Charities Act requires the Councl to prepare a statement of a¢￿Unts for each financial year which com with the regulatKmS m￿e under the Act. The Council is responsible for keeping accounting records which disdose wilh reasonable accuracy the financial position of the tharity and contsin entries showing from day to day all monies received and monies exp8n(led by the charity and the matters In respect of which those transactions took place and also contain a record of the assets and liabilities of the charity. The law also sets out the responsibiliti8s for the preparation arKI content of the Annual Report. The Councll Is also resw)nslble lor safeguardlng the assets of the charlty and ensuring their prop8r appllcation under charlty law and henc* for taklng reasonable stsps for the preventlon and detection of fraud and other irregularitles. The trustses doclare thal they have approved the tnth. rèport above Slgned on behalf of the charws trustees Henloy Truste• and Rector 17.09.24 EAST CARDIFF MINSTRY AREA Accounts 2023 INDEPENDENT EXAMINERS REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE EAST CARDIFF MINISTRY AREA I report to the charity truste8s on my 8xamInat￿n of the accounts of th8 Charlty for the year ended 31 December 2023 which are set out on pages 8 to 23. Respedive responsibilitios of trustees and axamln•r As the charlty's trustees, you a￿ responsible for the preparation of the accounts in accordance with the uirements of the Charitiès Act 2011 (the Act). The charity's trust88s consider that an audit is not requlred for this year under section 144 of the Acl and that an independent examlnatlon Is needed. I report in respect of my examlnation of the charity's accounts and it is my responsibility to.. examine the accounts under section 145 of the Act, 2. follow th8 proc8dur8s laid down in the generdl Directions given by the Charity Commission under section 145{5llbl of the Act. and 3. to state whether particular matters have come to my attention. Independ•nt examinerfs statsment My examinatlon was r2rried out in accordance with ge￿ra1 Dlre¢tions given by the Charlty Commlsslon. An examination includes a revi8w of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also Includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from the trustees cOrs￿rnIng any such matt8rs. The procedures undertaken do not provide all the eviden￿ thal would be required in an audit. and consequendy no opinion is giv8n as lo whelher the accounts pres8nt a 'trua and fairf view and the report Is Ilmlted to those matters set out in the statement below. Independent examinerfs statement I have completed my examination. I confimi that no materi81 matters hav8 com8 to my att8ntlon in connection with the examination giving me cause to believe that in any matèrial respect.. accounting records were not kept in respect of the charity as required by s8dion 130 of the Act: or th8 accounts do not accord with thos8 records: or the accounts do not comply wtth the applicable requirem8nts conceming the fom and wnlent of accounts set out in the Charities (Accounts and R81)orts) Regulations 2008 other than any requlrement that the accounts give a 'true and fair view. vthich Is not a matter considered as part of an Independent examination. I have no concems and have corne across no other matters In Connection with the examlnatlon to whlch attenticm should be drawn in this report in order to enable a proper understanding of the accounts to be reached. INDEP NT EXAMINER JE Payne A ICAEW Graham Paul Umlted Court House, Court Rd Brldgend. CF31 1BE Date: 111912024 EAST CARDIFF MINSTRY AREA Accounts 2023 8tat•ment of Flnanclal Actlvltles {Incory￿rat1n9 on Incomo and Expondlturn Account for the yoar ondgd 31 Docembgr 2023 2023 2023 2023 2022 2022 2022 Unrostriclod Restrl¢ted Funds Funds. Unr•$trl¢t•d R•strlcl•d Funds Fund$" Total Total INCOMING RESOURCES Income and endo¥mients from: Donations. *acies and grants ChaTlta￿e activities Investments Olher income 127.827 25.935 1.456 26.177 181.395 30.856 158,683 3.960 29.895 3.736 5,192 1.185 27,362 39 737 221.132 119.213 22.738 930 21.070 163,951 29.792 149,005 3,447 26,185 2.881 3.811 5.071 26,141 41.191 205.142 Total I￿orn9 RESOURCES EXPENDED Expondllure on: Charitable activities Other expendiiure Total expendilure {305.541) {134,795) {440.336) 2.640 2.640 308,181 442.976 (194.112) 2.400 196.512 (47.0251 {241.137) 2,400 243.537 134.795 47,025 Net Incom• before I￿eStment gaIn￿(lO$￿$} {126,786) (95,058> 1221.844) (32.561) {5,834) 138,395) N•t gaiDsl{losses) on Inveslments: Gainsl(losses) on rev81uation of Investments 10 6.098 6,098 11,199} {13.744) (14.943} Investm&nl income re-invested 526 526 706 706 Gainsl{losses) on d18posal of Investments 231 381 612 14,454) {2,9131 17.367) Net {•xpensellncome before •xtraordinary Items (126,555) {88,053) (214608) {38,214) (21.7851 159,999) Extraordinary Intr￿me 160,898 160,898 NET {EXPENSEyINCOME AND MOVEMENT IN FUNDS 126.555 88.053 214.608 14 139,113 100.899 Reconciliation of Funds: Total fvnds brought fopNard Fund transfers 101,846 {687) 337,253 439.099 687 140,341 12811 197.859 338.200 281 13 Totsl funds Garrl•d forward 25,396 249,887 224A91 101,846 337.253 439.099 ' Included wlthin reslricted fund5 are tho followlng related to endowm•nt funds: - investment InGome of £71712022-£944) - charftable activilies exp8ndituro of £343 (2022- £532) - surplus balance of £374 has bèon retslngd In the relevanl restricled fund {2022 . £412 rgryinvosted In Inveglmentsl - £1.516 restricted 9alns (2022- £3,18910880s) on r•valuatlon EAST CARDIFF MINSTRY AREA Accounts 2023 Balanu Sh•et as at 31 O•c•mb•r 2023 2023 2023 2023 2022 2022 2022 Unro8trlctad Rè8trlct•d Funds Fund*. Unrestrldod R•strl¢ted Fundg Funds. Totsl Flx•d Assots Tangble assets 37,994 3,557 41,S51 1,006 28,019 29,025 Common Inveslmont Fund io 113.080 113.080 10226 128.991 139.217 T¢)tal fix•d assots 116637 154 631 11 157 010 168.242 Curr9nt assets Cash at bank and In hand Debtor8 42.983 133250 176.233 132.313 2209 180,243 312.556 2.209 11 179077 Cr￿￿Or8. amounts falllng du• wllhln •n• y•ar. A￿1$ and Cr￿11 balances Amunts due to diocese Total curronl IlablUth8 (11.077) 98,140 109.217 (11,077) 98,140 (9.730) 34,178 {9,730) 34.178 43,908 12 (63,390) 133350 69,860 90.614 180.243 270.857 Net {liaWIIUesyassets 25.396 101.846 337 Brought forwwd 101,846 (687) 126.555 25,396 337,253 439.099 140.341 (281) 197.859 338.200 IDefjcltySurplu$ Year Carrl•d FoThArd 88.053 13 337 ncluded withln restrfcted funds carrled fO￿ard ar• •ndowmont investrnonts with a markot valuo of £28.720 (2022 - £27,204): geo noto 10 for dotalls 17.09.24 Thesefinancial statementswere approved bythe P8rochi81 Parishon................................................... Signed on their behalf by J H8nl8y Trustee and Rector EAST CARDIFF MINSTRY AREA Accounts 2023 sTATEmE￿r OF AccouKfiNG POLICIES Basls of preparatlon Th8 accounls are prepared under the hlstorlc cost L¥)nvention as modified by the revaluation of inv8stm8nts to fair value in accordance with the Charities Act 2011, the Church Accounting Regulation5 2006 and the Statement of Recommended Practic8 (SORP): 'A¢counting and R8POrtlng by Charities.. Statement of Recommended Practice applicable to charltles preparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS102) (eff8CtiV8 1 January 2019),. Financial Reporting Stsndard 102 The Financial Reporiing Standard applicable in the UK and Republ1¢ of Ireland, As a Charity, the church is a Public Benefit Entity (PBE) within the meanlng of FRSI02. In accordance wlth the exemptions available in the SORP (FRS102}, the Ministy Area has nol prepared a cash- flow statement The accounts presentatlon Is In Ilne with the requirements of the Annual Financial Retum to Monmouth Diocesan Board of Finance. Som8 of these differ from the fonnat and dlsclosure requirements of the SORP (FRS102) because. in the opinion of th8 PCC, the format adopted best represents the activities of the church. The Minlsty Area is 8 multi-church parish bthich ￿Mprised, at the beginning of 2022, the two churches of All Saints, Cyncoed and St Edeyrn's, together with kn congregations - All Salnts, Llanedeym and St David's Pentsvyn - based in local Church in Wales primary schools. On 30 January 2022. three additional churches, St Dytrig's Llanrumney. St Augustine's Rumney and St Mellons, were also added to the parish which was renamed the East Cardiff Ministry Area. The key accounting estimates used in the preparation of the accounts are: - the estimated useful life of fixed assets recoverability of debts. The Ministy Area has carried forward Current assets of approximately £179,077. only £45.827 of these are unrestricted. The total unrestricted funds show a deficit of £25,396 which includes a balance of £98.140 owed in outstandlng Mlnlstry Share to the Diocesan Board of Finance. Of this balance there was a reduction to £70.640 following the final quarter payment in eariy January 2024. In order to reduce the deficlt, the budget for 2024 is based on a breakeven overall budg8t. utllising restricted funds for malntenance. misslon and other activitles so that th8re is a surplus on unrestricted funds for 2024. The Diocese is continuing to support the Ministry Area by deferrlng payments on the outstsnding creditor 8$ required. Accordingly the accounts arè prepared on a going concern basis on the grounds that the charity will be able to continue its operatlons for at 12 months from the date of approval for th8 accounts. The presentation , together with the C4)nt8nts of the churches. and the two church halls of All Saints, and St Dyfrig's, are vest8d in th8 Representative Body of the Church in Wales. The church hall of St Augustine's is vested in the Monmouth Dlocesan Trust. The burial ground adjoining St. Edeym's Church is vested In the Old St Mellons Community Council. As none of the above propertles, nor thelr contents. are vested in the Ministry kna they do not appear in the accounts of the parish. St. Davld's Shared Church Penwn and All Saints, Church Llanedeym hold their Church and Sunday School services on the premises of St. David's Church in Wales SchcM)I, Penlvryn, Cardlff and All Saints. Church In Wales School. Uanedeym, Cardiff. Inve5tmerrt assets Fixed asset investments are shown at mii&market value at the B818nee Sheet date. Fixed asset investment5 in The Representative Body of the Church in Wales Common Investment Fund are valued initially at original purchase cost and subsequenlly at their market value at the year end with any gains or k)sses going through the SOFA. Ar￿Unts held at recognised UK banks are dassified as cash at bank and in hand. Debtors and croditors re¢elvablelpayable wlthln one year Debtors and creditors with no stated interest rats and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Cash Cash conslsts of monies held in Banks by each of the Churches together with the Area plus, cash In hand at each of th8 individual churches plus fvnds held by the Representstlve Body in bank account. 11 EAST CARDIFF MINSTRY AREA Accounts 2023 STATEMENT OF ACCOUNTING POUCIES (Continued) INCOME Income is recognised In the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likèly th8n not that the trustees will receive the r8sour¢es and the monetary value can be measured with sufficient r81iability. The followng specifies the policies applled and the main types of incnme that ar8 indud8d wlthin the particular categories of incoming resources: Collectlon The Mlnlstry Area received its main income from the Direct Giving of its Parishion8rs and thère are three main catsgories of this direct incom8'. Gfft Aided envelope whlch Is remitted either by the use of a speclally deslgned rèd envelope at a Church Service offertory collection, by direct payment kn the Benefice Covenant Secretary or credited direct by bank transfer to the Benefice Covenant Bank Account. Casual Gift ￿ded contributions whlch are enclosed in the newly deslgned envelopes. which are signed and handed in at a Church Seniice offertory collection. Cash - offertory collections at a Church Setvice. Grants and donatlons Grants and donations are only included in the SOFA when the g8n8ral income recognition criteria are met L•9acles Legacies are induded in the SOFA when the receipt is probable, that is, when th8re has b88n grant of probate, the exeCut￿S have established there are suffici8nt assèts in the estate and any condltions atta¢hed to the legacy are either within the control of the charity or have been meL Tax reclaims on donatlonsi glfts and laga¢ie$ Gift 8rd receivable is included in incom8 where there is 8 valid declaration from the donor and Is recognised in th8 P8ricKI whèn thè original donation is made and the dalm can be calculated. Any Gift Aid amount re¢overed is considered to be part of the original donation and as an addition to the same fund as the initial donation unl8SS the donor or the tems of the appeal h8ve Specified otherwise. Income from Interost and dlvldends The benefice has main sources of Imiestment income and is induded In th8 accounts when receipl is probab18 and the amount received can be measured reliably: Surplus cash resources 8re invested in Bank Depjsits Trusl Fund capital is invesled in the Cornrr￿n Inveslment Fund, which is a Managed Fund under the control of the Representstive Body of the Church in Wales. This is an income producing account wtth a Capital growth potential. The Benefice Church8s involved re¢eived a quarterly income payment from the RepresentatlV8 Body. Inveslment gains and losses This indudès any realised or unre81i88d gains or losses on th8 sale of investments and any gaSn or loss resultlng from revaluing investments to market value at th8 end of the year Volunteer help The value of any voluntary help is not included in th8 accounts but is descfibed in the trustees annual report. 12 EAST CARDIFF MINSTRY AREA Accounts 2023 EXPENDITURE Expenditure is accounted for on an accruals basis inclusive of VAT vthich is not racovarable as the organisation is not VAT registered. Liabilities are re¢ognlsed where it is more likely than not that there is a 18gal or constructlvé obligation committing th8 charity to pay out resources and the amount can be measured with reasonable certainty. The charity has creditors which ar8 measured at the amounts due In settlement. TAX The charity is exempt from corporation tax. SIGNIFICANT JUDGEMENTS The majority of income and expenditure is based on cash movements through the bank account. There are therefore limited judgements made in the overall accounts. Thes8 judgements include.. an estlmate of the useftjl life of tanglble flxed assets estimates of expenditure incurred, but not yet billed at the time of the accounts recoverability of debts A key judgement area is ensuring that the allocation of 8XP8nditur8 to individual restricted funds is in a¢¢ordan with the terms of that SP8cific fund. 13 EAST CARDIFF MINSTRY AREA Accounts 2023 NOTES TO THE ACCOUNTS INCOME Unreitrl¢tsd R•$tri¢t•d Funds Funds 2023 Total Unr•$tri¢t•d Funds R•strtcted Funds 2022 Total Donations and Legacl•8 Planned Giving Loose Collections Tax Refvnds (Grft Aid) D(Thtions Legacies Grants 91,309 12.500 23,991 27 50 25 3,198 18.994 1.280 7.309 30.856 91,359 12.525 27,189 19,021 1.280 7,309 158.683 84,183 13,409 15.352 6.269 2.812 13.459 15,461 28,110 109 21,841 4,980 29,792 4.980 149.005 127,827 119.213 Charltable Activities Fees Baptisms.Funarals and Weddings H￿1 hire - Money Raising Events 13.644 2.252 15.896 15,043 554 1S597 2.316 9.975 1,708 4,024 9.975 6,087 1,608 087 4.501 2.893 25,935 3.960 29,895 22.738 3A47 26,185 Incomg From Inveslments Fixed Asset Investment Income Deposlt A¢count Interest 1.901 1.835 3,736 2.009 3.183 5,192 892 38 930 2.049 832 2,881 2.941 870 3,811 1,348 1,458 Other Income other Incx)ming Re$rAJr￿S Ministy Rebate 9,425 16.752 26,177 1.185 10.610 752 27.362 6,866 14,204 21,070 5,071 11,937 14204 26,141 5,071 Extraordlnary Income Merger of Parish&s 160,898 160.898 160,898 160,898 Included withln restrlcted funds fixed asset Investment in¢ome is £717 (2022- £9441 relating to endovnnent funds. Extraordinary Income Extraordinary income relates to the merger of 3 parishes. St Dyfrig's. St Augustine's and St Mellons with the original Benefice of Cyncoed. At the date of merger the net fiJnds in each of the parishes were transferred as restricted funds to the new combined Ministry Area. These opening funds are the being applied, either in line with individual restrictions from the original donor, or for use in the general expenditure of the specific church. including contributions to Ihe parish share. The transfers were: St Augustlne's Rurnney St Dyfrig's Llanrumney Sl Mellons 54,539 53.193 53,166 160,898 14 EAST CARDIFF MINSTRY AREA Accounts 2023 EXPENDITURE Unr•stTlcl•d Restrlctod Funds Funds 2023 Totsl Unr•$trlctgd Restrlcted Funds Funds 2022 Charltabl• AGllvlll•s Exp•ndlture Support for Ministry Maintenance of SeNice8 General Parfsh Expenses Maintenance of Churches and other thurth property Mlsslon {Donalions Depreciation 167,829 17,558 27.259 167.829 17.558 32.106 112.354 18.022 31,881 28.017 140,371 18,022 36,184 4,847 4.303 92.440 12S,475 4,473 217.915 4,473 31,371 256 228 194,112 6,389 7,974 342 37,760 8,230 570 455 305.541 Other Expondlture Legal and Profe881onal 2,640 2,400 In¢ludod wSthln rgstrlcted funds malnt•n•n¢o of ¢hurch•s and othor church pro￿rtY •xpenditur# 1$ £34312022 . £532) relatlng to èndowm•nt funds. Induded within the maintenan￿ of Church8s is a signtficant renovation project - the Centenary Project- at All Saints Cyncoèd. The project involved the demolltlon of the church hall, repairs to the roof and fabr1¢ of the thur¢h. new stained glass wlndows, equlpment and a new organ. The project expenditure included in the year In the In¢ome and expenditure account Was £134,599 of which £78,734 was spent using r8Stricted funds which are Vi￿ed lo be repairs to a consecrat8d Church and have therefore not b88n capltallsèd plus another £28,019 of 8XP8nditure paid last year and now written off as the project compleled. The amounts have not been capitalised as the expendlture relates to repairs to the All Salnts Church. In addition, a further £41,000 (£3,557 restricted) was spent on equipment additions including th8 néw organ for All Saints church which has been capitalised - note 9. MAIKfENANCE OF MINISTRY AND RELATED PARTY TRANSACTIONS To fund the provision of Ministry, the Minlstry pays a °Parish Share. to the Dlocese. Thls Parfsh Share was split and allocated be￿een each Ghurch as agreed wlthln the Area. This previously resulled in amounts due to and from the vartous churches. However, in 2019 it was agreed to write off all these historical balances within the area, so that the totsl amount due to the diocese is combined for the area. In 2021 the individual churches were unable to completely pay thèir allocatlon of the parish share to the area. so the balance was again written off. In 2022 and 2023 the amounts due from each individual church to the area have been charged and retained in the individual chur¢h a¢￿Unt$, although in total this has Th) effect on the amount due from the diocese to the area as a whole. The tol81 charge for Parish Share for the Area was £155,185 (2022- £130,995). During the year the area received a rebat8 for the parish share from the diocese of £15,00012022 - £14.204 of which £4.040 relat8d to 20211. The total amount outstanding from the area due to the diocese at the year 8nd (as p8r notè 12) was £98.140 (2022 - £34,178). 15 EAST CARDIFF MINSTRY AREA Accounts 2023 MAINTENANCE OF PROPERTY The Minlstry Area pays for all maintenanc8 expenses of All Saints. Church Hall and the upkeep of the car park by St.Edeym's church, along with the maintenance of indlvldual churches wlthin the Area. MISSION The Ministry Area recognises that an impJrtant part of its Christian Stewardship is to financially support the work of Church Mission5, Christian Charities, Social and Emergency appeals. The amounts paid out for mission and charty donations in the year totalled £5,501 of which £1.028 was collected in prior year (2022 - £7,974). LEGAL AND PROFESSIONAL Amounts included in the accounts due to Independent Examiners, induding VAT, for.. Independent Examination Accounting Payroll £2.640 £1,200 £653 (2022- £2.400) {2022- £2,040) (2022- £370) CLERICS AND TRUSTEES TRANSACTIONS The Ministry Ar8a pays the cost of all expenses Incurred by the Church in Wales Clerics and Church Wardens in the p8rfoman¢e of thelr Parlsh duties. The amounts paid to Clerics were £11.289 {2022 - £7,766) to a total of 7 individuals (2022 - 8), including £1.022 of funeral and wedding fees (2022 - £1.9501 and £3,010 {2022 - £1.699) for re-imbursement of water rates to 3 individuals (2022 - 5). In addltion there were amounts paid to truste8S acting as vergers at various services such as weddlngs and funerals totalled £335 (2022- £460) for various f88S to 5 individuals (2022 - 2). No other tnjstees receivéd fees and expenses (2022 - £NII) for reimbursement of expenses incurred relating to the general running and administrative costs of the charity. The total number of trustees reimbursed for expenses paid on behalf of the charity during the year induding clergy was 12 (2022- 51. The Area does not pay any remuneration to the Church in Wales Clerics. The clergy team. are remunerated by the Monmouth Diocesan Board of Finance. No paymerrts Y￿re made to other Trustees for remuneration. Some trustees give anonymously to the charity via the weekly i*urch collections. Specific donations from trustees with conditions attached totalled £Nil (2022 - £3,600} which are included in the restricted fund income for use in the maintenance and renovation of church buildings, or for specific mission projects. WAGES AND SALARIES During the year the area employed 1 12022-2} part time employee at a total Cost of £13,041 {2022- £12,759). staff costs ar8 made up of £12,781 gross wages and employers NIC and £260 employers pension contributions. (2022- £12.573 and £186 respectively) No employees earned over £60.000 (2022- Nil). 16 EAST CARDIFF MINSTRY AREA Accounts 2023 TANGIBLE FIXED ASSETS Equipment Organ Unreslricled Unrestricted Funds FuThJ$ Organ Leasehold Restricted Improvements Fund$ Restricted Fund8 2023 Total 2022 Total Cost Brought FtY4vard Addllons Wrile-offs Cosi Carrfed Folward 1,(￿6 17,671 28,019 29,025 41,000 28,019 42.006 6.253 29,025 6,253 19,772 3,557 28,019 18,677 3,557 DepreCia￿n Brought Forward Disposas Charge For Yoar Depreciation Carried FO￿ard 5,683 15.6831 455 455 455 455 Net Book Value Brought Forward 570 Nel Be)ok Value Carried Forward 18,222 19,772 3.557 41,551 29.025 Restricted Unrestricted 3,557 3,557 37,994 28,019 18,222 19,772 3,557 10 FIXED ASSET INVESTMENTS The long temi inveslment of the Ministry Area conslsts of monies that have been donated or bequeathed to the B8n8fice andlor one of its churches by parfshloners and also Stock issued by the Governing Body of the Church of Wales under the Tlthe Act. The use to which some of these capitsl and income items may bo put is r8stricted to the specific temis of the Individual Trust Deed. This money is under the control of the Representatlve Body of the Church in Wales and in its C8P8¢ity as the Special Trustee of all the Deeds and is invested by the Representstive Body in its Comrnon Inv8Stm8nl Fund, which is a Managed Fund under its supervision. 17 EAST CARDIFF MINSTRY AREA Accounts 2023 10 FIXED ASSET INVEsTME￿rs {¢ontlnuod) Market Purchase M*el Shares Value Fund IDlsposakl No Shares Value No No Mlnlstry Ar•a 11,632 Bgque3t for MlnlstyArea In genernl 10,903 Légaey- uninve3ted 10,224 R•tlghJus Purposes for the Mlnlstry Area 2 Uninvested 5,551 15.$51} 4.879 {4,8791 10 32 761 Sub Tot81 St Ed•yrn'$ Church 1,283 Chancel Repalr- capltal 597 CharK•l Repair- Accumulatv)n8 121 Chan￿1 R*pair- uninv8818d 54,366 Memorial 612 612 1,354 285 74 359 121 25,943 25,943 57,400 Cash carried fonvard 26.840 56,364 Subtotsl 26.914 5&,666 Sl Auoustin•'# ChU￿h 7.073 Chu￿hy8rd Trust C4)ttal' 1,463 Churchy8rd Trust Income Acujmulallon 217 Unlnv•stsd 3,375 3.375 98 7.467 698 217 3,OS8 6,405 Second Churchyard Twst Capital. Unlnvestsd 3.056 6.761 15.157 Subtotal 7.129 St M•Non$ Church 3.125 6.549 Spedfic Graveyart. 210 Chu￿hy4rd. 6.967 Church Repotrs. Investm?nl of Parochlal Monks 3,125 6,914 221 100 3.325 3.825 7,357 2,742 7.128 5.746 ¢apit¥l 14.937 AcCumuts￿0n 2.742 7.555 6,￿7 18.715 150 427 $26 Vnlnve8ted 16.420 34.935 Sub Ttst81 16.847 37,424 fj0.819 139317 Totsls 9.929 50.890 113,080 'Reslrictsd endowmont Investments: . 2022 Market value brought forward £27204 - 2023 Market valu• Carrled forward £28,720 18 EAST CARDIFF MINSTRY AREA Accounts 2023 10 FIXED ASSEf INVESTMENTS (continued) st St Edeym's AuguJtlnè'$ N*llons Mlnlstry Ar•a Totsl At 1 January 32,761 56.384 15.157 34.935 139.217 Inmme relalned In portfollo 526 526 Gain on dispo¥al of shares 612 612 R•v8luÈlon 3,302 833 1.963 Copitsl transfer to Parf5h 33.373 15.990 37,424 113.080 'Rg8trided See Not• 13 59,666 15.990 37.424 113.080 Unrestrkt•d See Note 13 59.666 15,990 37 113.080 G•ln on R•v•l frnftsl•r Totsl Brought Fo￿ard In¢om• to Parlsh Unrestrlctg 10.226 231 110.4571 'R•stricted 128.991 526 381 6.098 122.9181 113,080 Total 139217 526 612 6,098 113,(180 ' Included wlthin r•strSGt•d funds galns on revaluatlon is £1,516 relatlng to endowmenl fvnd¥ 19 EAST CARDIFF MINSTRY AREA Accounts 2023 11 DEBTORS 2023 2022 Amounts due from diocese or parish share ￿bate and refurKIs GiftAid 2.209 2,844 2,844 2.209 12 CREDITORS 2023 2022 Amounts due to diocese for parish share Accruals Other creditors 98.140 7.640 3,437 109.217 34.178 4,800 4.930 43.908 EAST CARDIFF MINSTRY AREA Accounts 2023 13 RESERVES The Ministry Area aims lo be at least break-even In future years so that tts reserves are maintsined aThJ fixed asset investments a￿ only drawn down for major capital expenditure. Restricted fund movèment 1 Jan 2023 Addltitins Income Transfers Expenses Revaluation 31 Dec 2023 Restrlctgd Funds T8nglble FlxedAssets Organ Leasehold Improvements Total Flxed Assets 3.557 3.557 28,019 28.019 28,019 28.019 3.557 Investments Religious purposes ￿lY Maintenance and renovatiotl of Imjildings and churchyards: Area as a whole Sl Edeym's church st Edeym's chanr*l St Augustine's churchyard St Mellons ¢hurchyard st Melknns chur¢h St Mellons church purposes Total Inv•slmènts 11.635 381 112.016} 10.900 54,364 .2,000 15,155 6.759 6,969 21,209 128.991 110,9001 1.359 11.3591 3,031 269 836 376 388 1,198 6,098 57.395 2.269 15,991 7,135 7,357 22,933 113.080 160 169 174 526 {1601 (1691 (1741 22,916 Cash Mlssion In the Area Religious purposes only All Salnts, Organ fund Children 8cllvlts$ Administrative grant maintena￿ and renovation of buildin9s and churchyards Area as a whole Al Saints, Cynco& St Edeym's St Augusline's Rumney St Dyfrig's Uanrumney st Mellons st ￿￿uStine'S ¢hoir fund Total Cash 26.630 13,766 3.457 1,499 4,892 14,5431 12831 26.979 14,128 13,55n 100 364 4,225 1.863 {4,2251 37.889 15,241 13,254 6,869 49,064 11,951 623 180,243 17,929 140 1,574 3.892 453 3.198 463 37,875 155,818) 16,000} 1270} 14,814} 14,539} 13,0681 113 83,673 9.381 15.917 6,607 44.978 12,424 973 133250 1,359 660 3.557 Total Restricted Funds 337,253 40.644 500 {134.fj081 6.098 WJ087 Fixed assets Investments Cash Net debtorsl{creditors) Total Unrestricted Funds 1,006 10,226 132.313 41.699 101.846 37.443 {4551 110,4571 (500) {232,1471 65.309 308.368 37.994 231 180.760 635 {37.443) 42.983 106.373 500 439,099 222,270 442.976 6,098 224,491 Included wilhin restricted funds galns on r•valuation15 £1,516 rolatlng lo •ndowm•nt fund$ 21 EAST CARDIFF MINSTRY AREA Accounts 2023 13 RESERVES (Continued) Tho comparative arr¥)unts for the mvements on funds are: 1Jan22 Merger Ir¢ome Expenses Transfers 31 Dec 22 Restrlcted Funds Tangible hxed Assets Computer Equipment Leasehold Improvements Total Flxed Assets 342 <342) 28,019 342 342 28,019 Investments R81igious purposes only Maintenance of: Area church buildings St Edeyrn's church St Edeym's chancel St Augusline's churchy8rd St Mellons churchyard st Mellons church St Mellons church purposes Total Investménts 59.844 13,709) 144,500) 11,635 11.381 60,738 2,183 (569) (6,374> (220} (1,753) (792> (816> 2,424 16.657 10,900 54,364 2,000 15.155 6,759 8.969 21.209 128.991 37 169 16.739 7.551 7.785 412 706 134.146 Cash Mission in the Area Religious purposes only All Saints, Organ fund 25,014 1,017 1,970 9,590 1.906 1.487 17,974) 11,303) 26.630 13,766 3,457 11.865 281 Childrèn activities Malntenan¢e and renovation of buildings and churchyards Area buildings as a whole All Saints, Cyncoed Sr Edeyrn's St Augustine's Rumney St Dyfrig's Llanrumney St Mellons St Augustine's choir fund Cash reserves on merg8r St Augustine's Rumney St Dfftlg's Llanrumney St Mellons Total Cash 847 652 1.499 10.025 11,453 13,045 11,383 3,788 1,094 3,677 105 6.900 16,481 37.889 15,241 13,254 6,869 49,064 11,951 623 {885) 14,887) 8,079 48,959 5,668 623 (617) 23,782 4.235 2.391 105,602 {23,782) (4.235) 3.000 46,683 609 41,191 63,371 16,762 180,243 Total Restricted Funds 197,859 160,898 41.897 {83,682) 281 337.253 Un-restrfcted Funds 140.341 163,951 (202,165) (281) 101,846 Total Funds 338,200 160.898 205,848 265.847 22 EAST CARDIFF MINSTRY AREA Accounts 2023 14 COMMITMENTS At the year end the charity committed to completing the repair. renovation and improvements to All Saints, Church Cyncoed including outstsnding V￿rk on access and the installation of the memorial window. The estimated costs of these works committed to at the y8ar end amounted to £6,960. 23