2022-12-31-accounts - Abergavenny Ministry Area

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PARISH OF ABERGAVENNY PAROCHIAL CHURCH COUNCIL

(Renamed in November 2022 as Abergavenny Ministry Area)

Charity number: 1137751

Annual Report and Financial Statements

for the year ending December 31, 2022

Trustees’ report

The trustees have pleasure in presenting their report and the financial statements of the charity for the year ending December 31, 2022. The organisational structure, administration details and governance of the charity are set out later in this report, while the activities of the church form the first part.

Summary

The focus this year was on creating the Abergavenny Ministry Area, amalgamating seven churches in the Abergavenny and Govilon groups into one ministry area and charity. This involved a great deal of time and effort from a dedicated group of clergy and laity and, by the end of the year, the PCCs of all six parishes (seven churches) had agreed to join the ministry area, which was formally created in January 2023.

The following report on the activities of St Mary’s Priory and its daughter church Christchurch demonstrate what the charity has done during the year to carry out its aims and purposes for the public benefit.

Activities

The Parish continued to endeavour to enable the wider community to live out their faith through wide-ranging activities, which can be split broadly into four categories:

 worship, prayer and pastoral care;
 mission and outreach;
 special events;
 fundraising, fellowship and hosting events.

Worship, prayer and pastoral care

The service pattern remained settled throughout the year, with the Priory Eucharist continuing to be broadcast live on the internet and then available on the St Mary’s Priory website. A range of service formats were offered, including the 1662, 1984 and 2004 liturgies, and weekly Praying the Rosary.

As well as the usual weekday and Sunday worship during the year, whether online or inperson, there were a number of special services and events, which included:

 Celebrating the Platinum Jubilee of Her Majesty Queen Elizabeth II with special services in June.

 The Rt Revd Cherry Vann conducting a service of Holy Eucharist for the Abergavenny Pride event in July.

 Requiem Masses for Her Majesty Queen Elizabeth II in September, as well as opening Books of Remembrance, which were signed by hundreds of people, and provided a focal point for people of the town and beyond to pay their respects.

 Hosting the Monmouth Diocesan service for healing and wholeness in September.

 Monmouthshire Civic Service, held in September, in the presence of Councillor Laura Wright, Chair of the County Council, the Lord Lieutenant, and the High Sheriff, at which Bishop Cherry preached.

The Reverend Canon John Connell and the Rt Reverend Cherry Vann at the Abergavenny Pride event

 Celebrating Christmas at almost pre-Covid level, with Christchurch holding its Nine Lessons & Carols service, with lessons read by schoolchildren, for the first time since 2019. St Mary’s held an Advent Carol Service and an Nine Lessons & Carols Service, as well as hosting school Christmas concerts. The packed annual Christingle at St Mary’s was full of fun.

In addition to our regular services, we continued, when possible, to enable our community to celebrate and thank God in the milestones of their journey through life; 17 baptisms, 7 weddings and 52 funerals, although the clergy conducted many more funerals at local crematoria.

The number recorded on the Electoral roll for both churches on December 31, 2022, was 181.

Throughout the year, the Ministry Area TransiBon Team, through the work of its commiCees, discussed and agreed on maCers pertaining to the creaBon of a new Ministry Area, to amalgamate the parishes of Llanwenarth Citra, Govilon, Llanellen, Llanfoist, and Abergavenny Holy Trinity with that of St Mary’s with Christchurch. This includes key issues relaBng to finance, governance, and communicaBons as well as safeguarding and the adopBon of the Church in Wales’ Dignity Charter. The aims and purposes of the new Abergavenny Ministry Area will be consistent with the current ones for St Mary’s with Christchurch. In November, the name of the charity was amended in accordance with Charity Commission rules and permission to the Abergavenny Ministry Area to reflect the forthcoming reorganizaBon.

Mission and outreach work

Examples of the churches’ mission and outreach included:

 Members of the congregations supporting Abergavenny Food Bank throughout the year and especially during the Harvest season, with collections and donations at our services.

 Members of Mothers’ Union continuing to volunteer at a contact centre for children suffering family break-up.

 Collecting Christmas parcels of toiletries and small gifts for ‘looked after’ older teenagers and young adults who are living on their own.

 Members of the church continuing to be involved with the 7Corners project in Abergavenny, which aims to provide a safe place for young people to meet.

 Continuing our online presence, with the main Priory Eucharist continuing to be livestreamed and our Facebook and Twitter accounts kept people up to date with what was going on at the Priory.

 Artist-in-residence Jeremy Thomas completing his series of paintings of the life of Christ, entitled The Human One . The paintings have been seen in English and Welsh cathedrals and churches, as well as in St Mary’s. The official launch of the completed series took place in a packed St Mary’s in July.

A packed St Mary’s for the launch of The Human One

 Supporting Fairtrade Fortnight with a coffee morning at Christchurch and continuing to serve Fairtrade tea and coffee at both Christchurch and St Mary’s.

 Supporting the Christian Aid Appeal for Ukraine throughout the year, during which nearly £4,000 was raised through donations, coffee mornings, concerts and a collection at the Christchurch Nine Lessons & Carols.

 Members of the parish being encouraged to think about and tackle climate change, in however small a way, through articles in the Four Churches’ Magazine, which was published 11 times during the year. The cost-of-living crisis was also addressed in the magazine, through articles supplied by the charity Christians Against Poverty.

On the wider Church in Wales stage, the Reverend John Connell, Jenny Lloyd and Caroline Woollard continued to serve on the Governing Body of the Church in Wales. The Reverend John Connell and Caroline Woollard both also served on the Electoral College which elected the then Right Reverend Andrew John, Bishop of Bangor, as Archbishop of Wales. They attended his enthronement in Bangor Cathedral in May.

On a diocesan level, the Reverend John Connell was installed as a Canon of Newport Cathedral in July.

The Reverend Canon John Connell, in his capacity as Chair of the St Mary’s Priory Development Trust, attended Cardiff Castle on 15[th] September, 2022, to meet King Charles III.

Music, bells and visitors

The work of the church conBnued to be greatly enhanced by St Mary’s Priory Choir, under the musical directorship of Tim PraC. The Choir sang at a special Eucharist for Her Majesty’s Queen Elizabeth II’s PlaBnum Jubilee and at a Requiem Mass for the late Queen, which included Accession Responses by Tallis – used only during the Bme of Accession of a new Monarch, along with the Introit and Kyrie to Faure’s sublime Requiem . The Choir’s annual Singing Week tour in August took place locally, with services in St Mary Redcliffe Church in Bristol, All Saints Church in Cheltenham and Worcester Cathedral.

St Mary’s Priory Choir at St Mary Redcliffe in Bristol

The church bells continued to be rung on Sundays and special occasions as well as by visiting bands.

The number of visitors to St Mary’s continued to increase after the Covid restrictions eased, with the unique Jesse figure one of the main attractions. Our stewards continued to make people welcome and to facilitate both heritage visits and those who wished to pray.

SPECIAL ACTIVITIES

Fellowship, Fundraising and Hosting Events, which included but was not limited to:

 Coffee after services at both St Mary’s and Christchurch.
 Three concerts by The Gwent Bach Choir, two in St Mary’s and one in St Mary’s Priory Centre.
 A Diocesan Education Day in June.

 VU Amsterdam Chamber Choir concert at St Mary’s in July.

 The Food Festival organisation again using the Priory and Tithe Barn Courtyards in September.

 Church volunteers providing Tea on the Vicarage Lawn during the Food Festival, as well as craft activities on the church courtyard and providing a quiet space within the church on an otherwise very busy weekend in town.

 Hosting Abergavenny Pride in July, including a Eucharist presided at by the Right Reverend Cherry Vann, Bishop of Monmouth, music and a ‘Faith Space’ where the Bishop and the Reverend Canon John Connell talked about faith and sexuality.

Reference and administration details

St Mary’s Priory Church and its daughter church, Christchurch, is in the Parish of Abergavenny, part of Abergavenny Ministry Area and Deanery of Abergavenny and the Diocese of Monmouth in the Church of Wales.

Incumbent and ministers

The Reverend Canon John Connell continued to serve as Rector and the Reverend Lea Ryder as curate.

The Reverend Jeff Pearse conBnued to serve as self-supporBng Assistant Priest unBl his reBrement in June.

The worship in the parish was made possible through the on-going contribution of our Licensed Lay Minister Gaynor Parfitt; retired ministers the Reverend Malcolm Lane, the Reverend Jeremy Dowding, the Reverend Jan Delaney and the Reverend Canon Stephen James.

Objectives and activities

We review our aims, objectives, and activities each year, looking at what we have achieved and the outcomes of our work in the previous twelve months. The review looks at the success of each key activity and benefits of activities in a wide variety of cultural areas. The review also helps us ensure our aims, objectives and activities remained focused on our stated objective.

When reviewing our aims and objectives and in planning and considering our activities for the year, the incumbent, and the Parochial Church Council (PCC) have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.

The objective of the Charity is promoting in the ecclesiastical parish the whole mission of the Church. Encouraging and facilitating the practice of the Christian Faith by the Churches includes the following:

 Conducting regular Christian worship in both Churches.
 The celebration of the Holy Eucharist on seven days each week at St Mary’s Priory Church.
 Marriages, funerals and baptisms.

 The provision and maintenance of the fabric of St Mary’s Priory Church, Abergavenny, and of Christchurch, Abergavenny and their associated buildings.

 Opening St Mary’s daily for the public to enter and benefit from personal spiritual contemplation and to be able to view the medieval monuments and learn about the Benedictine foundation of the Church and its place in the history of Christianity and of Abergavenny.

 The maintenance of Christian burial places.

 Promoting the study of Christian teaching, practices and Scriptures.

 The provision of means and encouragement to promote fellowship within the membership of the Churches and the wider community.

In addition to the above, Christian devotional acts and outreach work are carried out, when permitted, including:

 Visiting the sick.
 Administering the Sacraments to those unable to attend regular acts of worship, and to the sick and dying.
 Supporting pastoral work.
 Fostering ecumenical links between differing Christian denominations.
 Supporting the work of other charities through, among others, the Mothers’ Union, the Bridge to Cross Trust (7Corners) and the Rachel Herbert Trust.

The work of the Church is governed by safeguarding policies of the Church in Wales, responsible adults are required to have DBS checks and the joint parishes have appointed a safeguarding co-ordinator who liaises with the Provincial safeguarding officer if necessary.

Further achievements in the year

Monies were raised by freewill offertory and by donations. These were used to support the work and administration of the churches and wider mission. Volunteers have donated their time to help at each act of worship to support the clergy, stewarded the churches, worked in the garden, arranged flowers, and many other vital activities, without which the churches could not survive.

The churches will continue with acts of worship and pastoral care during 2023 and will continue actively to try to increase the Electoral Roll, through our mission work in the community.

The Trustees

The Trustees who served the Charity during the period during 2022 (unless otherwise stated) were as follows:

The Reverend Canon John Connell Rector, chairman; Member of Governing Body of the Church in Wales The Reverend Jeff Pearse Self-supporting Assistant Priest (until June) The Reverend Lea Ryder Curate Mrs Sheila Davies Assistant People’s Warden, Representative on the Deanery Conference Mrs Margaret Dodd Mr Alan Freebury Mr Stephan Grabner The Reverend Jeff Mrs Diane John Pearse Mr Steven Lamerton Gift Aid Treasurer Mrs Jenny Lloyd Member of Church in Wales Governing Body Ms Lauren Moffitt Mrs Wendy Pendry Mr Tim Pratt Parish Rector’s Warden Mrs Patricia Ransome Mr Robin Smith St Mary’s Treasurer Mr Jeremy Thomas Assistant Rector’s Warden Mrs Sheila Woodhouse Vicar’s warden at Christchurch, Christchurch Treasurer Ms Caroline Woollard Parish People’s Warden, representative on the Diocesan Conference and member of the Governing Body of the Church in Wales, Lay Canon of Newport Cathedral

The Reverend Jeff Pearse

In addition, Mrs Eunice Marsh served as Trustee and PCC Secretary from the beginning of the year until the Vestry Meeting.

Structure, governance and management

The Parish of Abergavenny is part of the Diocese of Monmouth within the Church in Wales. The Church in Wales is a Province within the Anglican Communion and, as such, exists to advance the Christian Religion through worldwide mission. The object of the Parochial Church Council is to ensure that the life and work of the Church within the Parish helps to fulfil that mission, both locally and more widely.

The Representative Body of the Church in Wales holds the land and property of the Church in Wales, including St Mary’s Priory Church, Christchurch and other church buildings, and including the Garden of Rest at St Mary’s, and their contents. The Representative Body is an exempt Charity and was set up under Section 13(2) of the Welsh Churches Act 1914. It acts on behalf of the Province in paying the stipends of the full-time clergy, and administers the Church in Wales scheme of covenanted and gift aid giving, recovering tax on behalf of the parishes.

The Parochial Church Council (PCC) is not a body corporate, its composition, procedure and powers being regulated by the Constitution of the Church in Wales as amended from time to time by its Governing Body set up under Section 13(1) of the Welsh Church Act 1914. Elections are held at an Annual Vestry Meeting which must take place on or before April 30 each year. All persons whose names are entered on the Electoral Roll are entitled to vote and stand for election. Before assuming office, every member of the PCC publicly makes a declaration that he or she will

be bound by the Constitution. The Members and Officers of the PCC, including the Incumbent, on appointment, become Trustees of the ‘Parish of Abergavenny Parochial Church Council Charity Trust’.

The PCC also appoints the Priory Trustees, a body set up under a 1925 Deed of Trust to administer certain lands and properties held by the Representative Body as Custodian Trustees on behalf of and for the benefit of the Parish. The Trustees report to the PCC and their accounts are kept separate but consolidated with those of St Mary’s and Christchurch within the Charity Accounts presented with this report.

Property administered by the Priory Trustees includes the Priory Centre, the Tithe Barn, and the Holywell Community House. The latter two have been purchased in recent years and their freehold values are shown in the Accounts of this Charity. The properBes also include the Priory Meadow, which is leased to Monmouthshire County Council and is used as an extension of their Swan Meadow Car Park

Commercial OperaBons in the Priory Centre and the Tithe Barn are also managed and controlled by the Trustees.

Risk Review

The PCC has conducted its own review of the major risks to which the Charity is exposed and systems have been established to mitigate those risks. The risks facing the Charity include the state of repair of the Churches and the financial requirements to meet its stated activities, including payment of its Annual Parish Share, bearing in mind the fall in the numbers of regular worshippers and the reduction in regular giving. The structure of the Churches is continually monitored by the PCC and the Church’s professional advisers and the finances are controlled by careful budgeting and encouragement and appeals to the worshippers and visitors.

The Trustees continued to develop an evacuation plan in the event of a major incident. This plan will include the safe removal of both people and major artefacts.

There have been no serious incidents or other matters relating to this charity over the previous financial year that we should have brought to the attention of the Charity Commissioners but have not.

Organisational Structure

The PCC is responsible inter-alia for promoting the mission of the Church, the parochial budget and all expenditure thereunder, the care and maintenance of the fabric of the Churches and associated buildings and of the Garden of Remembrance, and for action on any other matter referred to it in accordance with the constitution. The PCC is also the normal channel of communication between the parishioners and the Bishop of the diocese. All members of the PCC are volunteers.

In addition to the election of members, the Officers, i.e. The People’s Warden and the Assistant People’s Warden are elected at the annual Easter Vestry; the Vicar appoints the Vicar’s Warden and two Vicar’s assistant wardens at the same meeting. New representatives are told of their responsibilities and of the issues facing the Churches by existing representatives, and receive such additional training as required. Other Officers, including the Secretary, Treasurer and Gift Aid Treasurer are appointed at the first meeting of the PCC after the Vestry Meeting.

Churchwarden Caroline Woollard, and the Reverend John Connell with the Archbishop of Wales, the Most Reverend Andrew John, at his enthronement

As indicated, members of the PCC also serve as representatives on the Deanery and Diocesan Conferences and the Governing Body of the Church in Wales, the Electoral College and the Provincial Discernment Panel. St Mary’s and Christchurch are active members of Abergavenny Council of Churches and volunteers help run mission events in Abergavenny, including activities for Christian Aid Fortnight, Fair Trade Fortnight, Easter and Christmas.

The Churches are run entirely by volunteers as the clergy are remunerated by another charity from the Parish Share payments made by all the Churches in the Diocese. Without the work of these volunteers, who, for example, enable St Mary’s to be kept open every day for members of the public to visit and to pray, the Churches would not function.

As of December 2022 the Charity employed three people (one full-time equivalent).

Committee structure

The PCC met eight times during the year, with the Council taking on the work of the previous committee structure of Mission & Outreach, Finance & Premises, and Fundraising. Some decisions were taken by the Standing Committee (Rector, Treasurer and Churchwardens) in addition to those taken by the PCC at meetings or via email.

The Priory Trustees met online and via email.

FABRIC

Partly because of the significant reducBon in the Charity’s income, liCle progress was made regarding the two major schemes reported in previous years. However, our appointed Structural Engineers have provided a detailed repair scheme for the repair of the cracks in the walls of the turret staircase in the northeast corner of the North Transept and this was used as the basis for a tender exercise during the autumn. As a result a contractor has been chosen but work has not commenced while grants are sought – the final cost is likely to be 25% higher, at around £50,000, than the original forecast. If grants are not forthcoming the Charity will have to consider using its remaining financial reserves to fund the work during 2023.

Also reflecBng the current financial constraints, there has again been no progress during 2022 regarding the other outstanding major project detailed in previous Reports, the repairs to the bulging Grade 1 Listed wall between the Church Forecourt and the Prince of Wales Courtyard.

Unfortunately a further demand on funding, when available, has been the collapse of the cast-iron gate giving access to the North Walkway. The gate is some 220 years old and broke into two halves with liCle warning but happily without causing any injury. All the parts have been recovered to safe storage and expert guidance is being sought as to whether the gate can be repaired or whether a replacement will have to be cast, likely to be at considerable expense.

FINANCIAL REVIEW

Results

Following the end of the pandemic and the associated restricBons on the acBviBes of the Charity, the provision of acts of worship, including Weddings and Funerals, gradually returned to pre-pandemic levels. As a result the direct voluntary contribuBons received during Services, excluding tax reclaimed through GiO Aid, amounted to £58,257 (2021: £50,326), which is about 75% of pre-pandemic levels, in line with current aCendance compared to five years ago .

Other general income, including that generated from fundraising acBviBes, was £110,974 (2021: £119,566). The reducBon reflected that in 2021 a single donaBon of £15,000 was received towards the mission acBviBes of the Charity. Otherwise, the figures include a gradual increase in revenue from acBviBes in both the Priory Centre and the Tithe Barn.

No funding (2021: £1,612) was received by way of grants from external agencies and the Charity received no other grants for services delivered from central or local government during the year

The level of general expenditure, excluding excepBonal items, amounted to £196,600 (2021: £199,872), remaining much lower than was normal pre-pandemic, but sBll exceeding the income received and generated.

Expenditure on excepBonal items during the year amounted to £3,062 (2021: £14,730), of which half was to reimburse the Structural Engineers for their work to develop the repair scheme for the North Transept staircase.

The net assets of the Charity at 31 December 2021 amounted to £439,913 (31/12/2021: £466,597) including freehold properBes valued at £362,641 (unchanged). This reducBon was the result in the charity having to conBnue using (and reducing) its financial reserves to cover its ongoing expenditure.

During the year the Charity conBnued to face the challenge of managing its cash flow parBcularly due to the reduced levels of income and the diminishing level of financial reserves within which it operates, contrary to its policy but reflecBng current realiBes.

Reserves Policy

The Parochial Church Council recognises the need to hold reserves to ensure funding is available to provide continuing mission should income levels fall. Reserves are also required to meet the future maintenance programme for the Churches and Church buildings.

A minimum level of reserves also needs to be retained to ensure the PCC can meet its legal commitments should the Charity be unable to continue due to a lack of a sustainable income stream. The Officers of the PCC have established a policy whereby the unrestricted funds not designated for specific use by the PCC or invested in tangible fixed assets, ie the free reserves held by the Charity, should ideally be between three and six months of the resources expended in general funds.

The Charity is dependent on donations, grants and investment income. The economic climate remains uncertain and interest rates continue at historically low levels, both of which factors are likely to have an on-going negative impact on future income streams.

Investment Policy

Despite the continuation of historically low rates of interest, the PCC has concluded the most appropriate policy for investing funds remains to achieve the best possible rate from our bankers commensurate with maintaining the capability of rapid access to the funds in the event of a call on them.

Bankers

Lloyds Bank, 54 Cross Street, Abergavenny, Monmouthshire NP7 5HB

HSBC Bank plc, 2 Frogmore Street, Abergavenny, NP7 5AF

Barclays Bank, 57 Frogmore Street, Abergavenny, NP7 5AT

Independent Examiner

Dorrell Oliver Limited, Linden House, Monk Street, Abergavenny, Monmouthshire NP7 5NF

Professional Advisers (Historic Buildings)

Arnold Bartosch Ltd, 1 Bath Mews, Bath Parade, Cheltenham, Gloucestershire GL53 7HL

Approved by the Trustees and signed on their behalf by

The Reverend Canon John Connell

The Reverend Canon John Connell meets His Majesty King Charles III at Cardiff Castle shortly a=er his accession to the throne

PARISH OF ABERGAVENNY PAROCHIAL CHURCH COUNCIL Charity Numter 1137751 Accounts For the year ended 31 December 2022 DORRELL OLIVER LTD Linden House Monk Street Abergavenny Monmouthshire NP7 5NF

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PARISH oFhBERGAVEXNYPARfH CHUACH COUNCIL St•t•m•nttslFlnan¢l•l A¢VItI9$ Y•ar•ndBd $1 DK•mber2022 2a22 ICC411NG REXRcEsiECEIPT$ Rtred Tth Rethatsj To VoluM4ry Incorno 43.711 Loose 22.2S4 13.07T 5V32 8.256 t888 22.254 13.Dn 6,61 9,? Fw Missknp. Td.L¥xiS T rofwas GASDS VAfr•covernd Grarty 17 $71 10.99J 1,58S 320 8.255 168B 10,993 1.$¢5 326 G•nwAt•d InEOm• MofAyRthry SiDglDoW¢el Fw6 ThBIrnand prfwe 12216 1.123 21.743 26.941 12216 6.247 2.008 5.215 15.1 fj.217 2.008 21,743 26.941 TS.196 19,eg9 19.899 27.198 27.IgB Olhwlncoffta 3,747 ?.747 67,937 67,937 11, 3.37 2.525 im {2021.' Oryoni 3.378 TOT INCOAIING RESOuRcERE¢E1pT8 172,97 172 237 979 237 E170 E8OURCES EXPENDEt¥PAYNENTS Supwrtforrnlnls 7S.590 1524 76.s 8J.180 83.1 PBYo¢rHd •xpensw Cle(8 17,JD7 11.756 41.324 17,507 11.756 41.324 12.e87 IOA03 12.e87 10.403 43.033 eenual Parish TlUl• Bpm and Prfjory C•r• ch[Ch Proporty 20.$41 20,541 14.710 10. 14.no 3.33P 19.116 14.71Q 10.180 147YJ Excoptlon•l EXPty¥ PBih p*Mn¢l•l Supwt 5.187 1&142 S.187 18.142 oikn•rrg8ourcgsExp•nd4d C051ofrnrw TOTAL RÉ8fLryCE$ ÉXPEN0EAy1IEtl 199.8 214eo2 NETIJOVEAIENT IN FUNDS 12¢,1841 {28M41 2J,377 23A71 84i•ne• broughtfoThv4rd 07 443220 411221 UThr•ill8•d g•lnon L•y¢v 31 Docwnb

PARISH OF ABERGAVENNYPAROCHIAL CFWJRCH COUNCIL STATEMENT OF AsseT5 AND LLABILIMES AS AT 31 DECEMBER 2122 2022 2021 Unr•JtActed Restrfcted FIXED ASSETS Free1 Propeths J62,641 382,641 .641 262.641 362.841 362,841 362.641 262.e41 CLIRREPIT ASSET8 Calh FuTrJE'. C¥sh". Bank DeD&XcurTrts 8wk CutrertAccourrts Cath in Hd 28,312 35.883 200 28.312 35.663 200 57.289 35,006 200 67,289 35.QUS Oth•rfrfon•lary Ass•tB' Slrx Debk)rs 10.0fy) 3.158 1D.NO 1,805 3.158 1.605 TOTAL ASSETS 41 URREKT LIABILITIES AMt8 falliNJ(Jèv4ilfvin ¢nos•¥ 12 (61) (1441 NETCURReNT ASSETS 439.913 439.913 4e6.597 400.5&7 Amwntstsliw lue 8Rermorth8n oneytar 12 NET ASSETS 435913 439913 460.557 ItEPRESENTED BY.. FUNDS BTDwhlfOard 4e6597 486 597 443.220 442.22 Surplu&iidefirit) trthe ybar (28.8841 128,8611 23,371 23,377 CathEd frrfvMrd 430,9f3 439.913 466.597 468.597 ThèfinarKkl st•twn8ntsw*re approvwl tythe Irv$teesM............................... TnMt¢¢

PARISH OF ABERGAVENNY PAROCHIAL CHURCH COUNCIL Notes to the Aceounts Year ènded 31 December 2022 Charlty Infomiatlon The Parish ol Aber9avenny Parochial Churth Council (the PCC} is a UK unincorporated charity Chamty Number 1137751. 1. ACCOUNTING POUCIES 1.1 88818 of preparation The aeeounts h8ve beèn prepared un¢Jer the historical cost nveNtIOn m¢xllned to Include Ihe rwaluallon of cèrtain land and building5. The accounts have been prepafed in accordance with applicable accounting standards. the Slalernent of R•tA)mmèrxled Practu,-Attounting and Reporting by charit6. issued March 2005 and thè Charrbès A¢t 2011. 1.2 Golng ¢on¢em At the Ume ol approving the financral statemènts. tha trustaes havg a rèasonablg 8xpectatioTr that thg PCC has adequate resources to continue In operatK)nal existence for the foreseeable ftrture. Thus the truste85 contlnue to adopt the going concem basls of accountlng In preparlng the flnanclal statements. 1.3 Charltable fund8 UnrestricteLI funds are availab for use at the dIScreon of the trustees In furtherance of their thaTitable objectNes unless the funds have been designated for Other purposes. The accounts Indude all transactlons. assets and Ilabllnles for whlch the PCC Is responsible in law. They do not include the accounts of church groups that owe thelr maln affiliation to another body nor those that are infomal gatherin9s ol Church members. 1.4 Incomlng re8ource8 Ineomè is recognised when the PCC is legally enlilled to it after any performare condibons have been mel. the amounts can be measured rellabty, and it is probable thal income wlll be received. C8sh donations are recogni5ed on receipt. Other donatn8 are recognised once the PCC has been notified of the donation, unless perforniance condltlons requlre deferral of Ihe amount. Income tax recoverable in relation to donation5 received under Grft Aid or deeds of covenant is recognised at the time of the donallon. Ail Income 18 recognised in the Statement of Financial Actwities once th6 charity has entiuement to the lunds, it 5$ probable that the InCme will be received and the amount can be measured re14ably. Page 4

PARISH OF ABERGAVENNY PAROCHIAL CHURCH COUNCIL Notes to the Accounts Year ended 31 December 2022 1. ACCOUNTING POLICIES {CONTD. 1.5 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequenlly measured at cost or valuation. net of depreciation and any impairmgnt losses. DepT8ciation is recognised so as to write off the cost or valualion of assety over their useful lives on the following basis- Freehold properties '. no depreciation charged The gain or loss arising on the disposal of an assot is detemiined a¥ the diffefftnce between the sale pro¢eeds and the ¢arying value of the asset and Ss ¢dited or ¢harg8d to the Statement of Financial Activities 1.6 Ca¥h and cash ¢quivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid investments with original maturities of three months or less. 1.7 Financial instrumgnts The PCC has elected to apply the provisions of Section 11 'Baslc Flnanclal Instrumenl$' and Section 12 Other Financial Instrument5 Issues, of FRS 102 to all of its f1nancial instruments. Financial instruments are recognised in th8 PCC balanc8 sheet when the PCC be¢ome$ paty to the contractual provisions of the instrument. Financial assets and liabilities aTe offset, with the net amounts presented in the financial statements. when there is a legally enforceable right to sel off the recognised amounts and theT8 is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction priGe inGluding transaction costs and subsequently carried at amortis?d G05t using the effective interest method unless the arr8ngement constitutes a financing transaction, where the transactlon is measured al the present value of future receipts discounted at a market rate of inteiest. Financial assets classified as receivable within one year are not amortised. BasiT¢ ffnancial liabilitiTeS Basic financial liabilities, including creditors and bank loans are initially recognised at transaction prlce. 1.8 Taxation The charity is exempt from tax on its charttable activities. 1.9 Stocks Stocks have been valued at Ihe lower of ¢ost or net realisable value. Page 5

PARISH OF ABERGAVENNY PAROCHIAL CHURCH COUNCIL Notgs to tho Accounts Y8ar andod 31 D•C•mr 2022 2. PKINEY RAISING 2022 2021 Fund ralslng Proceeds Costs Net Net St. M8rfs Christchurch oth•r Groups 5,485 3.042 339 8,868 1.464 1,888 12,216 1.097 366 4,388 2.676 339 7,403 1.484 1,886 53 2,762 697 113 3.572 1,463 B¢)okstall Christchurch Hall Income 550 1,46 3. PRIORY CENTRE & TITHE BARM 2022 Nel 2021 Net Proceeds Calerfng and Bar Room Hi, Leaming space and Tourist Centre Facilities cOrdinal0r salarie$ 5.613 21,328 2.181 24,553 14,590 41,324 3.432 13,2251 14.590 14,383 110,199> 18.283 27.835 26,941 4. INVESTMENT INCOME 2022 2021 Interest Car park rent and Prfnce of Wales Courtyard Rentsl income-property Holywell Close Income on investment encashed {from legacy) 83 12.543 7.293 11 13,880 10.740 2,567 27,198 19,899 P&ge 6

PARISH OF ABERGAVENNY PAROCHIAL CHURCH COUNCIL Notes to the Accounts Year ended 31 December 2022 2022 2021 5. MAINTENANCE OF SERVICES Remuneration of Organist Candles, Wine and Wafers Choir, Organ & Bells Other Churches 9,683 1.840 1.842 4,142 17,507 8.599 235 1,689 2,144 ,66 6. GENERAL PARISH EXPENSES 2022 2021 Sundry expenditure Slnglng Week Printing and Stationery Postage Vicars PA 3,128 1,029 483 40 7.076 11,756 878 2.277 274 494 6.480 10.403 7. MAINTENANCE OF CHURCHES 2022 2021 Light and Heat Insurance General repalrs 8,700 4,617 7.224 20,541 6,986 4.434 3,290 14.710 8. MAINTENANCE OF OTHER PROPERTY 2022 2021 Outgoings Vicarages: 4 Holywell Close st Mary's Outgoingg Loan intsrest 901 454 1.811 5,378 521 1,350 630 366 10,056 Outgoing$ Christchurch Hall Car park and Prince ofW8les Coutyard Garden of Rest 1,705 506 3,566 Pa¢e 7

PARISH OF ABERGAVENNY PAROCHIAL CHURCH COUNCIL Notes to the Accounts Year endèd 31 Oecember 2022 2022 2021 9. EXCEPTIONAL EXPENDITURE North aisle roof North Transept Garden of Rest gales Chambér organ paIrS Tithe Bam eleclrical upgrade Le$ Chapel roof 9S1 1.517 1,864 1,110 3.878 4,656 3.222 3.062 10. MISSION PARISH Donalion shared Other Churches Magazines, notiL%s elc. 517 4.670 S.187 3,270 11. FREEHOLD PROPERTIES Cost E$timatad Value Total 4 Holywell Close, Abergavenny The Pric*ry Pleadow. Abergavenny Tithe Bam 260,889 260.889 25.wo 76,752 25,000 76.752 337.641 25.000 362.641 Page 8

PARISH OF ABERGAVENtIY PAROCHIAL CHIIRCH COUNCIL Notes to theA£GDunts Yoar gnd•d 31 D4comb•r2022 13. Fund8 unreSd Restric F0& Fund Bgbnc88 8131 Detnr2O22 arg rapsent•d by.. 3S2,641 W2,641 Cufftnt 8$$ 77.333 Credtors.. 14. Trustw¥ Mrs M Pratl. tho sPQUseofon8 oflhB Itea6. rwNNeralbi as Var6 PAowr¥J the year of £1.07612021..£6,4601. Mrs Pr¥tt. the of ofthè Im$i$. 18rn8ratTr asan wJrMistoto atthe PriDrytrtr and Trtho b) dn9 15. EmplDy005 Tha avers numb8rofwvson$ •mpkJyed by IhB PCC durww theiparvm 3. Q021. 31. 16. Rpl•t*d Wli•b Thw• ro re¢¢0 porty Irwffjxtiorffj thTrye•r (2021 .wel. P9