MARGAM MINISTRY AREA REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023
MARGAM MINISTRY AREA COIITENTS Report of the TnleeS Independent Examinerfs Rek Statement of Financial Acts1 Balance Sheet Notes to the Financial Statements 5-11
MARGAM MINISTRY AREA REPORT OF THE TRUSTEES The Trustees present ther report along with the firla1 statements of charity lor the yEar ended 31st December 2023. The fan(al slalwments have been prepared in accordance Vith Accounting aTh Reporting by char"e$: Slatement of RecommerKl8d praCte alble to charities preparing their accounts in accordarKe wilh the Financial RepwbrKJ Standard ap1¢able in the UK and R8b.C Ireland {FRS 102) leffeclive 01 jUary 2019). STATEMENT OF TRUSTEES. RESPONSBILITIES Trust8es ar• r8spcfflsible for preparwo the of Ihe Tntslees aTrJ Ihe financial statsmgnls in accordance with applcabl8 law and UThted Kingkni Accwntry Slandarts {United KIn]n Generally Accepted ACCntsng Practice). The law apF4i¢able to ¢h8rities in England and Wales rewifes the Trustees to prepar& financial sialemenls lor each financial year whith gve a fair of the stale of the affairs of th8 charity and of the incoming resources and 8ppltathon of re$(xjr of the chwlty for that pèrkxl. In pr•pariThJ these fmancial statements. thè Trustees we reqimred to: select suitable a¢¢ountirwJ FdKies and th8n appty them consistenuy. make IJgements and est#nates Ihal reasonabb• and [0n1.. stsle whether 8ppka)b )UntIrj stsrKlards h8v• been foltrAd. sufyect to any material drtUreS di10$ed and Ihe Ilnarthl staIants.. epare the fina)ci statements the gory ¢cCn ba lesS it is inapw0pria to presume that the ¢harAy111 cont•w& In operat)n. The Tru$l8es ¥¢ r¢sp)n$hSle for keeFing proper acc(yJnting records that disclose wilh reasonable a¢¢uracy al any lime the finan¢ial p)sthn of the cknty and enable Ihem to ensure that the firsancial $ts19rngnls compty with Iho Charibgs Ad 2011 ond Tho Charity (Accounls and Repcftsl RegulalK)n5 2008. The Tru5tee5 are also reswywble for safeguar(ling the a$$gts of th? charity hen for tokirg reasonable steps the preVen1K awKJ detsclK)n of Irwj and othgr ryularrti&s. Approvèd by order of the Truste8S and syd cffl the Tntst88s' behalF'. W•ndy xor - Chalr 14th Juty 2024
MARGAM MINISTRY AREA DEPENDENT EXAMINERS REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 I report lo the charity tNstees on my examinèlion of the ac¢cAJnts of the ¢hwlty for the yw eThJod 31st Decemter 2023, wf¥¢h are set out on pages 3 to 10 RESPONS181LITIES ANO BASIS OF REPORT As the charitys Irustee3 you are respcrffjilAe for Ihe preparalicffi of the accounts in edance wilh tt)e requirements ol the charies Acl 2011 {'the Acf). I report in respect ol my examinab.on of the chaFiVs accounts cwried out under seclK)n 14S of Ihe ALt and in carrying out my examinatiorh I have fofnEd al the applcaile DirectKYks given by the Charity Commission under section 145(Sllbl of the Acl. INDEPENDENT E¥AMINER% STATEMEtr¥r I have completed my examination. I confirm thal no malerial mattws have comè to my attenti)n in connection wth the examination giwng me cause lo bele¥e that in any material spect.. accounting records wwe kept in respect of Ihe ctharity as requir by section 130 of the Act: OT th8 acujunts do noi compty with the apPIable Tequrements conceTThng the form ar content of Ctsjnts sèt in the ChtS (Acccts Reporisl RegUlaonS 28 other than any requirthment Ihat thè accojnts giva a Iru& and far viw/ whth is rnt a matter considered as oart of an independent 8xamina¢ion. I have no COrETn$ and have come acoss no other mattws wi cMnection with the examination to vthich attention should be drawn in this reF(fft lo enabbe a woper understanthng of Ihe accounts lo be read)ed. Kath8rln* R. Ang•ll ACCA Sq l0•120I
MARGAM MINISTRY AREA STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31ST DECEMBER 2023 R05trict•d TOTAL 2023 TOTAL 2022 Funds fR9slaldJ Note In¢omlng R••¢)urc•$ VolLA)tary IncrAne G8noral Income Investmenl IrKorr 160,661 366.945 170,005 137,885 .436 150.020 6,029 170,005 89.603 48.281 Tolal Irmnw¥J Resources 465.893 2111.942 674.135 516.486 R•soure•s Exp•nd•d Charilable acti¥eS SOOJ77 47 548.360 469,754 Tot81 R•sww Expended 47M84 $48.360 469.754 N•t IncomInlOuI9O1ryl R•s¢uru• 8•lor• TraMf•rs 134.904) 161,458 121474 46.732 Transfsrs baen furvts 11 1.850 N•t lnc0mlnglllt009l RMow¢ Before Oth•r R•¢oynls•d Galm & Los505 136.8341 163.308 12fj.474 46.732 Oth•r RecogThsed Garts & Losses N•t Mo¥•m•nt In Funds P6.W) 161308 126.474 46,732 Reconcillation ol Funds Tot81 turnls bfoJLtht forvA 259A54 120.IY)O 917,103 1.296ffi57 1,277,949 Total Fund¥ Cath•d Forward 120.IXIO 1,080.412 1,423.132 1.324.680 Th8 Stalem8nt of FvwKial wKJdes gain5 and k)$ in r.
MARGAM MINISTRY AREA BALANCE SHEET AS AT 31ST DECEMBER 2023 2023 2022 IResr¥t Flxèd Assets Tangible assets Investments 120,000 641.29T 120,000 598.959 761397 718,959 Curr•nt Ass•ts Oebiors Cash al Bank 587,693 6M335 595,699 Curr•nt Llabllltl•s Creditors 18.000 N•t Curr•rt Awts 661M35 577.699 Total Ass•ts L¢ss Curr•nt Ll•blllttas 1.296.657 Fund$ G&neral Designated Restri¢le¢J 222,720 120,1100 1.IJ80,412 259,554 120,OlJO 917,103 1.423.132 1.296.657 T1$¢ linan¢ial stslents *tre approNtd bylhe 'nty kna C(yJnc4 and th(wIsed for issue on 14th Juty 2024 and fftre sTrJned ils beh811 ty. Wendy Xerri- Chair
MARGAM MINISTRY AREA NOTES TO THE FINANCIAL STATEMEMfs FOR THE YE ENDED 31ST DECEMBER 2023 1) Accountlng Polklqs Th• fmanoal Stalwwts hav•i)••n Fwared hisWwx4 ¢)st arnl with appkable Xcfwnting standards prepariry ihe finanual staiernents khe charity forK best 8ccordarKe wh AccwntirJ and Reiting by Chwtties stattrmoni of R•¢omm•nded Plac appK¢abl• kj dwty•s prewiNJ Ihw actnts a¢¢ordance wrfh th Fin41 R8porimg Standard appfKth th8 UK arml RepL&of keland IFRS 10218ffecaive 01 Jarw 2019. R•$irf¢i•d Funds These c•) onlybe used fi the wpo$es lorww tr wwe 9. Thg MiNstyArea has savaral suth fund&, d8lai18 olwhich are set tyjl in noto 9 01 Ihe accounts. Deslgh•t•d Funds The Tte8S can desaale Some of Ihe uni85tricled lurth lora p1Ur purk)se. Th8se ft5 romain wiol lh• r8slrided hJrKIs. The Klirmstrykna has 5ever sKh lurK15. the dBlals of which are s•t wl In no18 9 of lh8 UnrgStrt¢d are a¥al uso al oflha TteeS in 1wther cl the ger1 aclivths of Ihe chwity. R•sourc•s Expended A Contrib1 to ts ClwJtth in Ws is pavj 15 inCk¥1 in thefMaJal SteEntS >pir lo hich ilrel8te$. Re$tyJrc¢s ?Mpendgd PWKrtI to inwrgd attth10b VAT. VAT paid for repa¥s and maintenance maybe reC¢ere¢j The Li5knJ PIKes ofWor5hip Grdnt Stherne appltle, Th) other VAT w b fe¢over¢d. Resourcgs eypgn(led are akted a1ty b whth Ihey reIe. rinancial ststernents. As rTrJst ol the Magement and ol the dM¥ch 15 carri8d by voknle8rs, langth cosl 15 Trjl ind in tho financAI sthwKnts•s to tr frfe thrth Flx•d rNed assets ar• rKowded al c. Inmmkng R•••urc Al Ir¢9 resources are irK•JJed in the 51at8mert olfmmual whan th8 chrty is enblied to iomè and th• am¢1 can be r•asorth ¢yJrw. Th• 5p•tsk potri•s are appl to partAJkv catsgorie$ of il IWI voluntaryqiwNJ is in tr frnKial slalwtsftyll Tt** il is ¢e. l DonanS der GffiAKI the as8LKb?W taxreojvwyare recogriMd a¥ iK•me th• don81 is ceNwJ. Mil Legaci•s am Ktthmt•d for a$ t1 w¢¢ew is ar be Y(wqUalfd.
MARGAM MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 11 Accountkng Pollclo5 {contlnu•d) Inve8tmonts Re¥ls4d gain and k)sses ines1ftlS are >ed as th dlwerKo betwn the s5 pw¢eeds and the Ma1 valL al the Sof >ear. or rtsL aTrJ are (hwged credited io the SlaternI0f Fin8nci81 Acli¥iMw Ihe Unreals8d ga5 and l)sse5 represenl Ih• norn•t in th• tho yw and t redthl Dr Gharged to the StalEmnl DI FK¥a1 knItsBs based on m•k•t vak atlhè yèar end. Taxatlon As part of the Churth in Walgs. Ihe clmvch 15 an excepknj the 011 TaxE5 A¢ts. Acrd1ngty It is potentiahy ex8nyI trcth laxalKyn in resFéd of ora and cawtsl gairr6 receNgJ to the 8x18nt that suth orgains ar8 to exckF• tharlabk purwse5. o¥k8ion lortaxayon ha$ beon made Ilnanc4 $lalThnts. 21 Voluntsry Income Total Fund Fund 2023 2022 Oonatlon Planned giviThJ Loose colleclicffl5 Chbk WeddiThJ. 88pti5rn & Funerdl lees Tretto Bay Clwr( Fundts Giant Funi*no Other Don•iiw$ Tax refuTh15 101J53 103,047 102.745 570 5.224 20.775 20.TT5 18.495 11.351J 15.115 51271 107,325 62.621 122.441 29.9•6 69,461 109.8S3 31,038 206,284 180,661 366.945 360,436
MARGAM MINISTRY AREA NOT&8 TO THE FINANCL4L STATEIIEtr¥fs FOR The YEAR EED 31ST DECEWBER 2023 Totsl Funds Funts Fund¥ 2022 st John's Churth Pothc4 st David's Chu Pcfth¢¥ AJI Snts Sl The(Joie ChwGh. Kwfig e & KerfvJ Chuhe5 Sl M. Marw Ab Sl John SchorArrJOW4 Port1 Samls. H1. Por1hl Sl David's Hth, Port & KanfwJ c1Ch H81 St Marfs Cr¢h Hal. Mwg8rn Abt4y Kord Hll CCVnrnfy Mwg8mAbbey Shop 200 C. Ptythc 100 Clkn. Pyla & Ktnfig 1•.m iOJ70 401 4,100 4.901 11S• 1,505 13,771 10,015 1.505 13.771 10,065 10.710 2.335 790 23.941 59.121 1,018 1,593 1595 27,313 58.700 2.595 27J13 50.780 1.277 7T2 26,147 26.047 12,953 41 lThvulTr¥nl In Funds Funth FuThJ8 2022 Rértal incthmè Bank inlerest recei¥8 Insuiarte S8 ol assets Invt$thient irtoma Prefil on disFosal offwd unrts Inrtr•stslldt¢ftras¢l in mork•t v•k olln¥egtrnents 11.582 1791 7W1 12.02S 42.686 13M7 13,657 9.323 24,960 186.4691 ' 09.603 4U81 137.885 6.029 51 Colts of Charllthl• Aeiiviuts by Fund Typ• Total Fd5 2023 Fwd5 2DO,199 121.1511 109 15m4 296.428 9J99 24419 <21.1$11 193.014 17.337) lthrdry- (Mher Cl&ryYexpBns Cost ol church fNdo 12) Chaiitsbk gi¥iTrJ 14894 341777 1533 12.816 257.801 13.459 47.349 135 so077 47J84 518.360 469.754
MARGAM MINISTRY AREA NOTES TO THE FINW4CIAL STATEMENTS FOR ThE YEAR ENDED 31ST DECEMBER 2023 71 T•ts1• Flxed A¥¥•t• Total CMt Al 01 J•nuary 2022 120.Al 120.CrfJO rhsposals At 31 Oeeernber 2022 1Jl.000 120.IX)CI Net Book Valu• At 31 Decmtr 2022 120.IJOO 120.00• Lan¢J & Bdir the CO8tofey al MayAf Wesl ETh#A. Porth¢a. 81 2023 IRv•r•OJ Marw ¥rabJe * 01 Jwy 2023 Inv¢slm¢nt in¢ Cosl d inves1rrfit Profil on offvTrJ wits Paid lo parish funds (Deca$?l6as8 In rna81 ¥ahoI luThl $98,909 14,043 13861 584,395 10.066 70.000 24.980 {4.0431 186.4691 28.021 Mwk•t It 31 D•¢•mb•r 2023 611247 $98,909 Invoslmonls are mode cffj bf01 th8 lkni5tykn Ihe corm Irhwlmenl Fd are stated al th8 middl8 markol valje of £2.2125 at 31 Dec8mb6r 2QJ13106carrt 22.. È2.09561. 111 in t1 irNeslmw lotal is É48,C6412022.. £371531 hekl in tath bythè Bthty Ws. IrudeI In irwesknenl tofal we Car wy15 cl £51&58112022.. £479.8041 for Ihe Cv Efvl DWE5 Vineries fund. £36.21612022.. £34.3031 fc¥ Glan EV ld. £9.518 12022.. £9.0151 for the St Johns Cr¢y kngarna lund. £70.10512022.. £65.9551 Icrf Ihe GcllreyJ8mes fuThJ. 8ThJ t9,825 12W22.. 9)871 th8 M9m matenaa Fwwj. Tr•awxy W•r Stock¥ 23 2022 Markel vahje al 01 Jary 2023 IDetreasePlncr&ase In mketvdue of IAart¢t valu• at 31 O•¢•mber 2023
MARGAM MINISTRY AREA NOTES TO THE F1mClAL STATEIENTS FOR THE YEAR ENDED 31ST DECEMBER 2Q23 81 tnv•8trnents Icontknu•d) kn•1b Of In$¢M•n b•tw••n ld$ R•stricl•d Funds Total Funds 2023 Total FdS 2022 Funds R8CIW- Or Ellèl Gra¢ Davios RBCW- Mr Dad Tumer Glan Evans RBCW. Amatymated Fund RBcfw-Canon C)dfr&y Jan$ RBCW- Maigarn Maintenance Tf•asw W Slocks 51S,$81 36216 9.518 70.105 gA2S 515.$61 36.216 9.518 70,105 9.825 479,804 34.303 9,01 S 66.699 9.087 641.24 ' 2021 Fundsreslated fo include £9.087b8My The Clmffch Fabnc aLhY Alainlenanc8 F£uJ frc¥n lh8 sales Pr5 of Sf Davrfs 8$ tsld 4h Tt &vtyoflh& CluJrd¥ Wats$. InfOnatiOn on th8 res1riccr. deS¥Jnati0r FIWFKofthe Iwd% 15 xkxl8d w*hin Note 9.
MARGAM MINISTRY AREA NOTES TO THE F14ANCIAL STATEIIEIITS FOR THE YEAR ENDED 31ST OEceM8ER 2023 259.554 465.893 IX•).8771 222.720 DesNJngied Fund5 ProF•ti 120.XI 120.0fy) T¢lvr¥esbKlod lun(L5 379&4 46&893 342.720 R•strf¢t•d Futhds Sl Joth% Buming FTry Samts. 8uihling Fund St Da%i&s &111n9 Fund $1 Jth Baptist ChwLyard T• Dr Ethel Da%ios- Vmeries The CoMKIPartér Damd Gfi Evts TNSI FUNI St ThEOd& Building FurKI 66.7 26.147 (10.0481 8.368 17.219 51&581 16.393 479.&J5 9&207 34203 35.777 4.172 1.914 36216 Canon Godfvey Jame5 Tw51 Fur Sl Makne FWKI Sl Mary Gr••wd F1 Sl JarTWS &Ilthvj F¥ThJs Sl Jamas Gra¥eywd Ffj Wateis Louther Tntst Maryam AW Organ Fwd Grawdid Fund Margam At+• M81nnance Furtl Pthnisbry Ats8 Fund Chwrtabkn Funds 70,105 41564 40.312 1.8XS 5320 579 61.4YJ 232DJ 14.1( io. 24.387 13.916 13.lcfj 9.818 9.719 121.7471 115.5541 rnslrirjed lurwJ5 917.103 47.484 1.080,412 Total Fund• 129&857 674.135 1.421132 The Dr Ethth St hn¢Iyd held a5 instrn¢nis. as Xt Mlè 8 10 Ihelcthts. St Clwrth Isenli the #e luTrts. tr•be typbed forth mntenanCe of St John's a1 the thwd4y¥d r05r••. these hdd ty Ihe Repieg•nl•tN• Boty r11 In W5 w tyy51. cPkr Fund ar D•N4Gkn Trwt Fwvj IKthI b¢S¢Jthnts Ctrwrth. Al Saints. Cmreh and St Damds rth. The car Tnjsl FWKI gven IDr the ofSI The WatW5 LC9her TntsttsJbJ5 lunds lororfiEIp5d nErty orcornkxtlo be the beneflofptr 101 An•t*71s of NetknMIs B•lw•w Fw 641.247 439.165 222,670 I.tW.412 342,720 VwlvKttd Incrme 120.if R•soU•S Ewnd 12Qf 641.297 132
MARGAM MINISTRY AREA NOTES TO THE FIIIANCIAL STATEMEIITS FOR THE YEAR ENDED 31ST DECEMBER 2023 111 Tr5[• B•tw••n Fund¥ FvrKJs transfwred botseen LknresilKe F1$ lh8 R•stri¢t•d th• 121 Go•ts ¢lGPwreh A¢ll¥ttl Total 222 Funth 2023 Malnt•nanc• ol S•ThlM• tar Organists, thtyrs. (Mhor musc •xF4rws Cl8anSr¥J Heal & Llghl Olher Se5 2.166 5,722 40,535 1,441 22,889 10.%2 847 80.524 4847 89,524 2,393 41,033 S707 41m3 &707 100 Cb 131.782 136,782 84,476 hurch MaInt•n• InsurarK¢ Sl &)hn$ A4 Saints Sl Dawd'$ si Thrye,5 Sl James St Mary Magdthne Margam Abbey 4,879 18,312 5.527 3.268 19.121 2.453 7.878 •.674 7.878 19,n2 10.041 14.286 6.67S 3.925 39.527 67$ 17,78D 21.747 13.302 31.795 10&587 7052 Prop•rty Ma1•8¢• St Jthn's Scl#)dr St Jthn's Chur¢hyad Al Sa15. H1 Sl Dav#J's Hal 34,698 2,723 3.823 7AJ8 10.310 &144 1.215 6,395 4,462 7.168 3.744 Kenfi9 Hil Cffiimrrity S>p Pyle & KenfKJ Clwrch Hal K4aryJam Church Hall ergy Hcuses 10,310 S,144 3.39B 4.011 4011 3104 61.506 General Parlsh Expgns Pfintiw & Slat8ry "s$n Fund expensès ]ePenden1x8min$ lees Abbty Sh (MhereMp8Tr585 13 4513 14434 1610 29.657 6,885 14434 2.610 28,023 33,463 ' 12• 50349 15>54 69,291 296h28 7J4 28 .824