Towy Community Church
Charity number. 1136394
Company Registration Number.. 07181550
Trustees, report and financial statements
for the year ended 31 $1 December 2023

Towy Community Church 07181550
Contents
Page
Legal and administrative information
Trustees report
Independent Auditors report
Statement of financial activities
10
Balance sheet
Notes to the financial statements
12- 17

Towy Community Church 07181550
al and administrative information
Charity Name.. Towy Community Church
Charity Registration Number.. 1136394
Company Registration Number.. 07181550
Address..
Xcel Centre
Llansteffan Road
Johnstown
Carmarthen
SA313BP
Trustees & Directors..
Mary Bayes
Niall Pickup
Paul Griffiths
Emyr Jones
Tim Howells
Charlie Evans- appointed 28.04.23
Auditors:
Ashmole & Co
The Old School,
The Quay,
Carmarthen,
Carmarthenshire,
SA31 3LN
Bankers..
Lloyds TSB
King Street
Carmarthen
Nat West
King Street
Carmarthen

Towy Community Church 07181550
Re
ort of the Trustees
For the year ended 31 December 2023
The Trustees present their report and the financial statements for the year ended 31 December 2023. The trustees
who served during the year and up to the date ofthis report are set out on page 1.
Structure, governance and management
The Charity is managed by trustees who are appointed by the church leadership. The board of trustees will consist
of members equally representing the church leadership and church attendees.
Governing Document
The charity is governed by its Memorandum and Articles of Association as a Company Limited by Guarantee.
Objectives and activities I Public Benefit
The main purpose and objects of the charity are set out in the Memorandum of Association as follows..
to advance the Christian faith in accordance with the Statement of Belief in Carmarthenshire and in
such other parts of the United Kingdom or the world as the Leadership Team may from time to time
think fit and to fulfil such other purposes which are exclusively charitable according to the law of
England and Wales and are connected with the charitable work of the Church.,
to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve
the distress caused thereby in the said location and in such other parts of the United Kingdom or the
world as the Leadership Team may from time to time think fit.,
to benefit the local community of Carmarthenshire and the neighbourhood by associating together
with the said local community and the local authorities, voluntary and other organisations in a
common effort to advance education andlor to provide facilities in the interests of social welfare for
healthy recreation and leisure time occupation with the objective of improving conditions of life for
the residents.
Achievements and erformance 2023
Church Re
ort 2023
The year started with an excellent evening of fun and games to celebrate the New Year in our new venue at St.
Catherines Walk along with a time to reflect on the goodness of God over us as a church in 2023.
In January, our online Zoom prayer meeting continues to be a success with various church members leading us in
prayers for our nation and for our local cornmunity.
We had many visiting speakers from all over Wales and even as far as Hong Kong, Denmark and the USA. Our
monthly format for services was also an encouragement to everyone. The first Sunday of the month being a family
service where the children are a part of the whole service and the talk is mainly directed at them. These services
have been so rewarding and also an opportunity for our children's team, who wonderfully each week put on a
fantastic program to have a week's break. The new venue has allowed us to do so much more for the children who
attend each week. The second Sunday an opportunity to continue studies into the word like the excellent book on
Romans by Andrew Ollerton, the third Sunday Café Church an opportunity to discuss around a coffee the message
from the previous week. This has been life changing for so many as they have had the opportunity to ask questions
and receive prayer in a small group setting We've also continued to meet up every quarter with our close friends
from Bethel Church and worshipped together as ONE Church with some excellent visiting speakers.
We continued to run Alpha with Bethel Church and our relationship with the Alpha team has continued to grow and
they have been very supportive of our initiatives to reach out into the community with the good news of the gospel.
Alpha UK helped to match fund our Christmas events at st. Catherines Walk with over 2500 in attendance with
many children receiving a present frorll Father Christmas. As a result, we saw many attending our Christmas
services.
Many from the church attended the New Wine Cymru conference and we continue to be grateful for their support to
Towy Community Church.

Tovry Community Church 07181550
This was also a very special year for Towy as we also celebrated 10 years of Xcel Project. On Sunday the 24th of
September we held a thanksgiving service at Xcel Bowl. Local dignitaries and the community were invited to
celebrate and give thanks to God for the amazing work of the projects over the past 10 years it was truly a
momentous and emotional day. Together we celebrated "Reaching People - Changing Lives" through Carmarthen
Foodbank, Xcel Furniture and Xcel Community Shop, Carmarthen Community Money Advice and of course the
excellent community venue of Xcel Bowl. It was wonderful to be reminded of real lives that have been impacted
throughout our community... .Yes it's all worth it when you see the difference in Carmarthen when a church and
community work together.
Our youth events have continued to grow with football at the "Pod" and also a youth service called The Gathering"
with around 300 youth from all over West Wales in attendance.
So again, a very busy year, for Towy Community Church. A year when we continued to reach out to bless, help
and support our community We pray that we will continue to serve Carmarthen in practical and spiritual ways. Our
mission remains the same, displaying God's love to this wonderful community, bringing hope in Jesus name,
"Reaching People and Changing Lives"
Xcel 2023 Re
ort
In 2023 we continued to face the pressures faced by the economy as a whole - the cost-of-living crisis being a
major factor in both the bowling operation lour main source of income) and the demands on our social outreach
projects We are very grateful to the dedication of our staff and volunteers for their hard work to maintain our
project's main aim of reaching people and changing lives.
Xcel Bowl
In May we made a major investment in our future by financing a refurbishment of the bowl, requiring the site to be
closed for a period of weeks. The soft play area was reduced but is now provided free of charge and aimed at pre-
school children in particular.
We are very proud to be recognised on Google as the second highest rated bowling alley in Wales with a rating of
4.6 out of 5. This success is a Credit to our manager, Nat Gale and his team.
We are fully open to special community events and by disabled user groups. We are delighted to report that the
majority of user groups have returned to using the Bowl on a regular basis.
The Bowl was utilised to host a small number of Towy Community Church events.
Xcel Furniture
The Furniture recycling centre, incorporating the Community Shop was fully open throughout the year. Again, we
place on record our thanks to Hywel Jenkins and his team of employees and volunteers for their hard work through
the year.
During 2023 we collected 32,108 items, totalling 147 tonnes of wh ich 10.45 ton nes were of large electrical items. In
total. 110 units were given free of charge to the community and 22 families were assisted with free furniture under
our voucher scheme.
We would want to record our thanks to EasyBooks for their continued sponsorship of the furniture van, which
enables us to run two delivery vehicles.
Carmarthen Foodbank and Carmarthen Community Money Advice
We were delighted in 2023 to welcome both Cath Cork and Carolyn Yelland to our team as Foodbank and CMA
manager respectively. Janet Heath moved across from Furniture to become our Warehouse Manager within the
Foodbank team. Miriam Jones moved to oversee both teams but chose to resign from the project after many years
of dedicated service to pursue other opportunities Anwen Turton has flourished in Goncentrating her time in the
area she works best in direct5y advising clients We place on record our continued thanks lo all employees and
volunteers for their hard work and dedication in what has been an increasingly difficult year as the cost-of-living
crisis As directors we are humbled by their diligence and compassion in meeting the needs of our community.
As a Foodbank we continue to work alongside The Trussell Trust as one of a small number of Foodbanks to run
their Pathfinder Project research - looking at the causes of poverty in our area.
41 Piiye

Towy Community Church 07181550
During the year, the Foodbank worked with over fifty referral agencies (the most referrals coming from Carmarthen
County Council Housing Services. Carmarthen Job Centre and our own Community Money Advice) and saw a
massive 37°/o increase in emergency food parcels. In total. 1.377 three day emergency food parcels were
distributed with a total of 3,279 people fed (including 1 ,257 children). The main reasons for the referrals were the
rising costs of food and energy bills allied to low wages, debt issues and ongoing physical and mental health
issues.
The community continues to be generous in their donations but we have seen a drop-off in food donations and
have increasingly had to supplement our supplies from our own income.
Community Money Advice is now established as a support to any requiring debt and budgeting assistance. We
recognise that the work with every client is complex and work intensive and would thank all our volunteers through
the year and in particular Peter Mount for his work.
The Table in the centre of Carmarthen is now fully open and is used by both us and other agencies to support our
community. We have supported 56 clients over the year and managed £467,441.09 of debts. Since August 2023
we have been capturing more data on our overall impact and are proud to announce that we have achieved
£197,000 of financial gains for our clients.
Case Study
An individual living with a 17 year old child moved into the area after the death of their partner at the beginning of
the year. Renting in private accommodation, not working due to ill health and on basic universal credit. They had
already started to apply for Personal Independence Payment and waiting their decision (this process can take up to
12 weeks). This person first presented themself at Carmarthen food bank, with very low income, facing a very
difficult situation and in a new area. From sharing their story with volunteers, they were referred into our CMA debt
service.
They met every week for approximately a Month with CMA who gave debt advice and general support to help
Inancially. This included contacting creditors, arranging a moratorium period against further action and developing
a budget for future planning. We undertook a benefit check identifying bereavement support, as well as providing
ongoing food parcels while things were processed. Made a discretionary assistance fund application for a new
cooker and fridge for their new home.
As starting in a new home, this was not furnished so Xcel furniture was able to support in supplying wardrobes.
Over a 6 week period, we were able to make a difference and met all their needs and they are now back on track,
their income has increased, they have an affordable debt management plan and no longer using the food bank
services. At the end of our last appointment, the client broke down in tears and said 'you have no idea the relief I
feel knowing that everything looks1ike it will be okay - thank you.
Summary
We began these projects to support Towy Church's mission of reaching people and changing lives and remain
committed to these goals.
We appreciate your prayers for wisdom in planning for the future of the projects, and for the support many of you
give in volunteering roles - thank you.

Towy Community Church 07181550
Financial review
Policy on reserves
The Charity's policy is to keep a minimum in general funds to run the organisation for 3 months.
Statement of trustees, responsibilities
The trustees are responsible for preparing the annual report and the financial ststements in accordance with
applicable law and United Kingdom Generally Accepted Accounting Practice.
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each
financial year which give a true and fair view of charity's financial
activities during the year and of its financial position at the end of the year. In preparing financial statements giving a
true and fair view, the trustees are required to..
select suitable accounting policies and then apply them consistently.,
make judgements and estimates that are reasonable and prudent., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
lime the financial position of the charity and enable them to ensLJre that the financial statements comply with the
Charities Act 2011. Trustees are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees declare that they have approved the trustees, report above.
On behalf of the board
Signed..
.Trustee
Date..
I9/￿￿-L#
PrintName...............

Towy Community Church 07181550
ort of the Inde
endent Auditors to the Members of To
Commlini
Chlirch
Opinion
We have audited the financial statements of Towy Community Church I'the charitable company'l for the year ended
31 St December 2023 which comprise Statement of Financial Activities, the balance sheet and notes to the financial
statements, including significant accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting
standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 sl December 2023 and of its
incoming resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have been prepared in accordance with the requirements of United Kingdom Generally Accepted
Accounting Practice.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UKII and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the
financial staten7ents section of our report. We are independent of the charitable company in accordance with the
ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
standard and we have fu Ifilled our other eth ical responsibilities in accordance with these req uirements We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the director's use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or colleLtively, may cast significant doubt on the entity's ability to continue as a going
concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant
sections of this report.
Other information
The other information comprises the information included in the annual report. including the trustees, report. other
than the financial statements and our auditor's report thereon. The trustees are responsible for the other information
contained within the annual report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion
thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears
to be materially misstated. If we identify such material this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement
of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the
audit, we have not identified material misstatements in the trustees, report
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports)
Regulations 2008 require us to report to you if, in our opinion..
adequate and proper accounting records have not been kept, or returns adequate for our audit have not
been received from branches not visited by us, or
the financial statements are not in agreerllent with the accounting records and returns., or

Towy Community Church 07181550
certain disclosures of trustees, remuneration specified by law are not made.. or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors of the
charitable company for the purposes of company lawl are responsible for the preparation of the financial statements
and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is
necessary to enable the preparation of financial statements that are free from material misstatement, whether due to
fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the company's ability to continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic
alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material misstatements In respect of irregularities, including
fraud.
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the
Inancial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of
material misstatement due to fraud through designing and implementing appropriate responses and to respond
appropriately to fraud or suspected fraud identified during the audit.
However, it is the primary responsibility of management, with the oversight of those charged with governance, to
ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for
the prevention and detection of fraud.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit
engagement team..
Obtained an understanding of the nature of the industry and sector, including the legal and regulatory
framework that the company operates in and how the company is complying with the framework.,
Inquired of management, and those charged with governance, about their identification and assessment of
the risks of irregu larities, including any known actual, suspected or alleged instance of fraud..
Discussed matters about non-compliance with laws and regulations and how fraud might occur including
assessment of how and where the financial statements may be susceptible to fraud.
As a result of these procedures, we consider the most significant laws and regulations that have a direct impact on
the financial statements are FRS 102, the Charities Act and the Companies Act 2006. We performed audit procedures
to detect non-compliance which may have a material impact on the financial statements which included reviewing
the financial statements d isclosures.
The audit engagement team identified the risk of management override of controls as the area where the financial
statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but
were not limited to testing manual journal entries and other adjustments and evaluating the business rationale in
relation to any significant. unusual transactions and transactions entered into outside the normal course of business.
A further description of our responsibilities is available on the Financial Reporting Council's website at-.
www.frc.org. uklauditorsresponsibilities.

Tov4y Community Church 07181550
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16
of the Companies. Our audit work has been undertaken so that we might state to the charitable company's members
those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the
charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
DJC Morgan FCCA, Bsc (Senior Statutory Auditor)
For and on behalf of Ashmole & Co.
Chartered Certified Accountants & Registered Auditors
The Old School
The Quay
Carmarthen
Carmarthenshire
SA313LN
Date. 23rd September 2024

Towy Community Church 07181550
STATEMENT OF FINANCIAL ACTIVITIES
for the period ended 31st December 2023
Unrestricted Restricted
Funds
Funds
notes
Total Funds
last
Incomin
Resources
Donations, Legacies & Similar Incoming resources
Donations Income
Grants reCeI￿d - Unrestricted
Grants Receivad - Restricted
87,723
35,812
123,534
111.935
51,965
51,965
38,105
Incoming Resources from Operating Activities
a) in furtherance of the charity's objectives
Trading income
1,074,137
1.074.137
1,024,367
bl for generating funds
Fundraising
Investment Income
Bank Interest Receivad
33
Other Incoming Resources
Tax Rebate from Co￿nant/G1ft Aid
Other income
13,534
342
1,259
5,497
14,793
5,839
12,077
19.192
TOTAL INCOMING RESOURCES
101,598
1,168,671
1,270,268
1,205,709
Resources Ex
ended
Costs of generating Funds
Fundraising Costs
Charitable Expenditure
GrantslGifts in furtherance of objecti￿$
Resources Expended on
Management &
Administration (including Xcel costs)
Support Costs
GO￿rnanCe Costs..
Audit Fees
Foes for preparation of accounts
13,872
13,872
13,514
87,351
1.297,139
1,384,489
1,124.229
8,975
8.975
16,070
2,500
900
2,500
900
2,500
900
TOTAL RESOURCES EXPENDED
101.222
1,309,513
1,410,736
1,157,212
NET INCOMING RESOURCES Before transfers
376
-140,843
Transfers Between Funds
NET INCOMING RESOURCES After transfers
376
-140,843
-140,467
48,496
Gains/Losses on Rewaluation of Fixed Assets
NET MOVEMENT IN FUNDS
376
-140,843
-140,467
48,497
Total Funds Brought Forward
Total Funds Carried Forward
23.984
24,360
1,116,297
975,454
1,140.282
999.814
1,091.786
1,140,282
Continuing Operations All income and expenditure has arisen from continuing actimties
10 | Pcl

Towy Community Church 07181550
Un restricted Restricted
Funds
Funds
notes
Total Funds
last
ear
Balance Sheet
as at 31st December 2023
Fixed Assets-Tan
ible
Fixed Assets -Tangible
1,498
1,305,829
1,307,327
1,339,271
Current Assets
Stock
Debtors & Prepayments
Bank & Cash
8,311
26,865
160,281
195,457
8,311
28,288
185,079
221,878
5,895
30,651
345,336
381,882
1,423
24,798
26,221
Current Liabilities
Creditors & Accruals
Loan - repayments due in 1 year
fallin
due within 1
ear
12
3,358
158,238
70,279
161,597
70,279
158,539
83.601
3,358
228,517
231,876
242,140
Net Current Assets
22,862
-33,060
-10,198
139,742
Totsl Assets less Current Liabilities
24,360
1.272,769
1,297,130
1,479,014
Creditors Falling due after 1 year
Promsions for Liabilities & Charges
12
297,315
297,315
338,732
Total Net Assets
24,360
975,454
999,814
1,140,282
Fund Balances
Funds Blfvd
Net m0￿ment of funds
23,984
376
1,116.297
-140.843
1,140,282
-140.467
1,091,786
48,497
TOTAL FUNDS
24,360
975,454
999,814
1,140,282
The financial statements were apprO￿d by the Board of Trustees on
were signed on its behalf by
241912oW
and
Signed..
Trustee
Print Name.............

Towy Community Church 07181550
Notes to the financial statements
for the year ended 31 December 2023
1. Basis of preparation
1.1. Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2015}', Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies
Act 2006. The financial statements have been prepared under the historical cost convention. These financial
statements are prepared on the going concern basis. The trustees have taken steps to secure the financial future
of the organisation for the foreseeable future.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following d isclosure exemptions in preparing these financial statements, as
permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,:
the requirements of Section 7 Statement of Cash Flows.,
the requirement of Section 3 Financial Statement Presentation paragraph 3.17ld)',
the requirements of Section 11 Financial Instruments paragraphs 11.41(bl, 11.41 Icl,
11.411e), 11.41(fj, 11.42, 11.44,11.45, 11.47, 11.481a)liiil, 11.48la){iv), 11.48(b) and
11.481c),
the requirements of Section 12 Other Financial Instruments paragraphs 12.26, 12.27,
12.29{al, 12.29lbl and 12.29A,
the requirement of Section 33 Related Party Disclosure paragraph 33.7.
1.2. Change in Basis ofAccounting
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.
1.3. Changes to previous Accounts
No changes have been made to accounts for the previous years.
2. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently
throughout the year.
2.1 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income
and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular
categories of income..
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial
Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are
included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of
services provided by volunteers has not been included.
Tax Reclaims are included in the SOFA at the same time as the gift to which they relate.
Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities
in the year in which they are receivable.
Income from investments is included in the year in which it is receivable.
Legacies are included when the charity is advised by the personal representative of an estate that payment will be
made or property transferred and the amount involved can be quantified.
2 2 Resources expended
Expenditure is recogn Ised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot
be fully recovered and is reported as part of the expenditure to which it relates.

Tovry Community Church 07181550
Resources expended are recognised in the year In which they are incurred. Support costs are those costs incurred
directly in support of expenditure on the objects of the charity and include project management.
2. 3 Tangible fixed assets and depreciation
Expenditure is capitalised if the asset has a usefu I life of more than 1 year and its cost exceeds £500.
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated
to write off the cost less residual value of each asset over its expected useful life, on a straight line basis as follows..
Office Furniture and equipment
Equiprnent, Fittings
Bowling Lanes
Buildings
10 % (changed from 25 % effective 1.1.161
10 % (changed from 25 % effective 1.1.16)
2.4 Stocks
These are valued at the lower of cost and market value.
3. Analysis of Incoming Resources
Donations income consists of regular giving by church members in tithes and offerings, plus one off, gifts or
donations. Where these g ifts are given for a specific purpose they are held in a restricted fu nd. This includes gifts
received under the gift aid scheme.
The incoming resources include the following Grants into restricted funds..
Trussell Trust Pathfinders
£51.965
Foodbank and Community Money Advice
4. Analysis of Resources Expended
Grants awarded - Grants are given in accordance with the objectives of the charity. All decisions on grant awards
are considered and decided upon by the trustees.
The financial value of volunteer time has not been included in the financial statements but forms a crucial part of the
success of the organisation.
Management and Administration Costs are as follows..
this year
793874
last year
687906
129263
81972
89436
20773
5692
5479
42006
11036
50668
Wages. Salaries & Associated Costs
Purchases for Resale kel
Rent, Rates, Light & Heat
Administration Costs
Repairs & Maintenance
Tra￿1 and subsistence
Lease Payments for Scoring System
Bank/HP Interest and Charges
Actimty costs
Depreciation & Loss on Asset Disposal
Irreco￿rab1e Vat
139635
138106
109988
74168
8894
5685
52563
10107
51467
1384489
1124229
5. Trustee Expenses
The following out of pocket expenses were reimbursed to trustees during the year..
Mary Bayes
Niall Pickup
Pau l Griffiths
Tim Howells
Emyr Jones
Charlie Evans

Towy Community Church 07181550
6. Support Costs
This
ear
8,975
Last Year
16,070
Financial mana
ement CostslBook-kee
in
7. Governance Costs
This
ear
2,500
goo
Last Year
2.500
900
Fee for Audit l Examination of Accounts
Accounts
re
aration
8. Staff Expenditure
8.1 Staff Costs
This Year
775,889
16,195
Last Year
675,331
12,575
Gross Wa
es & Salaries
Pension Costs
Redundanc
Costs
incl. ER NI
8.2 Number of Em
lo
ees
This Year
47
Last Year
50
Full time em
lo
ees
ore
uivalent
No employees had emoluments in excess of £60,000.
In addition to employees, over 120 volunteers contributed to the project th is year.
9. Grant making
Grants amounting to £1.200 were paid to Dr M'z Youth Project during the year in monthly payments of £100.
All other grants made during the year did not exceed £1000.
10. Fixed Assets
Furniture &
ment -
General Funds
Xcel Ca
enditure
Buildin
Restricted
Other
ment-
Restricted
TOTAL
enin
Balance Cost
Additions in Year
Dis
osals in Year
Closin
Balance at Cost
15,482
1,552,046
474,828
22,950
5,495
492 283
2,042,355
22,950
5,495
2 059 810
1552 046
Opening Accumulated
reciation
Char
efor
ear
Released on Dis
osa1
Closin
Accumulated De
13,048
290,467
399,569
703,084
935
31,041
21,910
4,488
416 992
53,887
4,488
752 483
reciation
321508
Closin
Net Book Value
1,498
1,230,538
75,291
1,307,327
No assets have been re-valued during the year.

Towy Community Church 07181550
11. Debtors and prepayments
Amounts falling due within 1 year are as follows..
This Year
Last Year
HMRC Gift Aid Rebate
Trade Debtors
Prepayments
1,127
3,369
£ 23,792
3,148
2,984
£ 24,518
£ 30651
12. Creditors and Accruals
Amounts falling due within 1 year are as follows..
This Year
Last Year
Trade Creditors
HMRC-VAT
PAYE, Pension and net pay (incl. AOE)
Accruals
Accrue Loan Interest
58,165
38,627
17,401
36,276
11,127
£ 67,049
£ 43,524
£ 12,456
£ 26,144
9,367
Bank Loan
CCC Loan
CBILS
Van HP
12,647
22,766
29,600
5,266
£ 14,032
£ 34,703
£ 29,600
5,266
£ 231 875
£ 242 140
Amounts falling due after 1 year are as follows.
CCC Loan
Bank Loan
CBILS
Van HP
47,915
£ 176.422
55.735
17,245
£ 40,702
£ 186,580
£ 87,734
£ 23,715
£ 297 315
£ 338 732
13. Transactions with related Parties
13.1 Remuneration and benef1ts
The following amounts were paid to trustees as salary for specific employment roles as permitted in the governing
document'.-
Name
Paul Griffiths
£ This Year
35,080
All amounts were paid under the PAYE system and are shown as Gross pay figures.
13.2 Loans
No loans were made to the trustees or related parties during the year.
13.3 Other Transactions
There are no other transactions to d isclose in this year

Towy Community Church 07181550
14. Additional Disclosures
In order to assist project cashflow, sometimes funds are transferred from general funds to projects and then
returned once cash availability permits. This does not affect the overall position of the organisation as the transfers
are all internal.
There are no further disclosures for th is year.
15. Corporation tax
The company is exempt from payment of corporation tax on its charitable activities.

Tovry Community Church 07181550
16. Analysis of Funds Summary
Restricted Reslricled
Xcel Bowl,
miture
el
and HWB Project
P£slricled
Reslricled Restricted Unrestricted
General
Funds
Total Fund
CMA Foodbank
Youlh
Incoming Funds
Grants reCeI￿d
Trading Income
GiftslDonationslFundraising
Offerings & Tithes
Gift Aid Rebate of tax
51,965
1,074.137
42,689
80,845
14,793
-3,428
9,267
1,270,268
38,849
13,117
1,074,137
34,722
7,967
79,755
13,534
1,090
125
1,134
Profit on Sale ofAssets
Other income
-3.428
1,031
1,071,740
1. 168.671
606
7,289
56,261
342
606
40,064
101,598
Expenditure of Funds
Costs of operating the charity
X£el Project (Building Phase 2} c
Direct ￿e1 project running Gosts
Irreco￿rab1e VAT on project
256,184
39,739 116,158
100.287
1,100,664
1,100,664
Depreciation
53,888
1,410,736
48,790
1.149,454
1,309,513
-77,713
459
3.689
40,198 119.846
935
101,222
Net M0￿ment of funds for year
-140.467
591
-135
-63,585
376
opening Fund balances
1,140,282
974,400 48.455
967
91.011
1,464
23,984
Fund Transfers
Closing Fund Balances
999,814
896,687 49,046
832
27,426
1,464
24,360
Balance Sheet Funds
Fixed Assets
1,307.327
-367, 594
8,311
28,288
-161.597
185,079
1,287,314
-367, 594
8,311
19,538
-148,544
48,227 52.210
49,433
-3,858
896,687 49,046
694
2,857
14,964
1,498
less Loans & Mortgages
Stock
Debtors & prepayments
Creditors & Accruals
50
7,277
-7,619
61,710
48,906
27,426
1,423
-3.359
21,467
3,330
24,360
-2,075
Bank & Cash
1,464
Internal bank transfers pending
999,814
832
1,464
Description of restricted Funds:
Xcel8owl All funds relating to the running of the bowling alley and furniture recycling centre.
Xcel P roject All funds relating to the de￿lopment of P hase 2 of the building to proiride a conferencing facility.
Foodbank - All ftJnds held for the specific purpose of the foodbank. HOwe￿r the value of donations in kind that are
giv2n are not shown in the figures, only monetary gifts and expenditure.
Youth donations giben for the specific purpose of youth work
CMA - All funds relating to the Community Money Adirice Project