MARGAM MINISTRY AREA REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 MARGAM MINISTRY AREA CONTENTS ReFrf)rt of the Trustees Independent Examinerfs Rep(xt Statement of Fknan¢ial Aclivitses Balance Sheet Notes to the Financial Statements 5-11 1113 MARGAM MINISTRY AREA REPORT OF THE TRUSTEES The Trusteès pr8sent ther report akng with the fmncial slatements of Ihe charityfor the year gnded 31st December 2024. fm8noal statements have been wepared ￿ accothnce wth Accounting RewrtirwJ by Charities.. Slatement of Recommended Practice applicable lo charil*s preparing Iheir 7Kcounls in ￿Cl)rdanCe with Ihe FI￿Nal Rel￿1￿j Slandard applicab18 n the UK and RepUb￿.C of Irdand IFRS 1021 leffeclive 01 JarKJary 2019). STATEMENT OF TRUSTEES. RESPONSWLITES Th8 Trust885 are responstjle for prwr& the RerM)rt of the Truslees and the financial statements in a¢cordanc8 V+ith apph'cable law aThJ United StaThlard5 IUnite¢J KirvJd(Mn Generally Acc8Pt•d Acccwjnlirg Practice). The law apFli¢able lo ch8r1￿ kn England Wales requires Ihe Trustees kn prepare ￿n￿Gla1 slalemenls fly each finarKial year which gfvè a lrne and laff view of the stste of the affairs of th8 charity and of the incoming resour¢e$ and 8pplic2tion of resources ol th8 charity for that p￿. In preparing these finanual statements, 1he Trustees a￿ rewired to.. select Suitab￿ w)unl#w pc11￿ and then apF4y them consistenty, make I￿19ements and estinates that ar8 reasorth and prthJenL stste whether 8ppl¢ablè acrA￿￿ting slarnlards have been fo10￿d. subject to any material departures disclosed and exrAain in th8 fina￿la1 statements" prepare the financial statemwts fm the wng concern basis un￿$ li is inapworyiato 10 presume that the charity In cwalion. The Trustees are responsible for keepir@ Fwer acc(yJntry records that di5Glose ￿ rea$￿able accwacy at any time the financial positK)n of the charity aTrJ enable them lo ensure th8t the financi81 stalemenls compty V•ilh the Chafilies Acl 2011 aThJ T1￿ Charity (Accounls and Reports) Regulat￿nS 2008. The Trustees are also responsible for saleguwding the assets cl the charity and hence lor tsking reasonable steps for the prevention and detectw of fraKI and other irregularities. Approved by order of the Trustees a￿1 swjned on the Trustees. behalt: Chalr 2113 MARGAM MINISTRY AREA INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 I report lo the Charity trustees (m my examI)ai￿ ol the arx(wnts ol ￿ charity for the >Ear ènded 31st Decernbei 2024. whth are set wt on page5 3 to 1Q. RESPONSIBLITIES ATr40 BASIS OF REPORT As the chariV5 Iwstees ￿ are re$wn￿LIe fwthe Fveparation of the accounts in accordarr2 with the quirements of the Charitses Acl 2011 I'tt￿ Acr). I report in re$￿t of my ex8muiatiffi of the thar￿￿$ 8¢(thnts carried c¥Jl under section 145 of the Act and in ¢arryiThJ rAJI my ex￿inatiOn I have fokn¥ed 81 Ihe threclions given by Ihe Charty Commission under sec11￿ 14951(bl of the Act. INDEPENDENT EXAMINER% STATEMEI I have completed my examinali¢)n. l crnfimi that no m3tert81 rnaltgrs have lo my attention in connecti¢￿ with the eyaminakn.on giviry me cause to belwe Ihal in any maleriai respect: ccounbng records *re Th)1 kept in resK*¢l of Iho charity a$ required by section 130 of thè Ihe xcourrts ¢$) not *ith those records." the aCcO￿ts do not compty with the applicab￿ Tequremenls conceming the fomi and contenl of accounts set out in the CharilEs IAccounls arKI RepDrtsl Regulations 2008 olher than any requirement that Ihe accounts give a'lvje and fair view. wlN¢h is rn)t a matter conshlered as part of an indeperKlenl examwwtKM. I havè concerns and hav8 come across no olher maliers in conneclion with the examinats.on to which attent￿n should be drawn in thts rèm to énablè a wop•r uThl8rslandin9 of th8 accounts to be reached. Kath•rln• R. Ang•ll ACCA Datè 20 OcTo6t£ 2025 3113 MARGAM MINISTRY AREA STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31ST DECEMBER 2024 Restricted TOTAL 2024 TOTAL 2023 Funds NrA• Incomlng R•sourco5 Vduntary Iwthmè General Incorne Investment Ir￿)me 203.020 In.947 21.637 70,897 470 57.300 273.916 178N17 78.93T 366.945 170,(KJ5 137,885 rotal Ineominy Resourtes 401604 128.666 531.271 674.83S R￿o￿TC¢• Exp8ndod CharitaN8 activ￿•S 413.488 26.882 440.370 548.360 Total R•sOurc￿ Expended 413,488 26.882 440.370 548,360 Net Incornlnglloutgolngl Rèsourc B•for• Tran8tevs 101,784 90.901 126,474 Transfers befv￿n fuThJ5 11 145.0821 101 N•t Incomingllthjtgoingl RBsowc•s Before Othor R•cognlsed Gaths & Losses ¥198 S6.703 90.901 126,474 0th8r Rgwgnised Gains & Losses Nrt Movom•nt in Funds 34.198 56.703 90.901 126.474 RKonclllatloD of Fund• Tolal lunds brrwhl loThv*d 221720 120.000 1,060,412 1,423,132 1,296,657 Totsl Fund8 Carrled Forward 256.918 120.000 1.137,114 1,514,033 1.423.132 The Slalernw￿ of ActMlio$ Micknlgs al gains and h)$￿ ￿ Ihe year. All cl abo¥e amwnls rela1• lo c¥ale￿ fvTK15. Iheiktsils d which are Sel out in note g Df Ihe Vwe$kn¢ied funils a￿ avalknwe kyuse olth¢ TnBtees h fWtr￿anc8 ofthe ger*ral activities of Ihe charity- R•sourt•s Exp•nd•d A conlr*)ution lo the Churth in Walas is ￿ reWty aThJ in the knial staten*nts for the year ki whKh il re￿te5. R850uree$ expl￿(1 v•¢¢y)is•d ￿ Ihe pwityj to and aIIrbutsb￿ VAT. VAT paid lor repai￿ and mairtenan¢e may be recovered thrw Lisied Places of Wuship Grant Scherne thre aPFthCab￿. Tv) other VAT can be recovered. R8sources exper￿ we a￿alOd kn tt* Pa￿U￿r athityitswhi¢h IW r*le. Go¥eM￿Ce cosls r8presenlthciexpen(ktiTr on th8 wynmanc• ¢hw¢h. ¥)¢kK*Y4 and audilof ¢h• financwl sta*ments. As Th￿1 ol the management and ￿l￿ty01 is c￿1 by voknteers, Ihis inlaThJiNe cosl is I￿luded in the f￿an￿al 8lal8Thnts astlws Contr￿¥￿ io the We dthe clMr¢h is iKakulable. Flx•d A¥s•ts All fixed assds ar• r8tord8d al CfAsL kncomlng R•sourc•s l inGoming teswrre5 IhB stater￿ ¢Y ￿t￿&S ￿en the charity is en￿tled to th8 incom8 legeries of irKome.' All W￿ntory ￿thd0d f￿￿1￿1 slat8ments forth8 P8rK*J ii it is re¢eprtd. li} D￿al￿$ ￿re￿ft Aml plus associaled tax rets)vuy*e 1th¥KJns￿ as when Ihe thnation is r8c•ved. Mil Leoaws we att(u)led as lh¥ re¢eWi$ on¢ can b8 quantified. 6113 MARGAM MINISTRY AREA NOTES TO TME FINANCIAL STATEMEIITS FOR THE YEAR ENDED 31ST DECEMBER 2024 11 kcountlng Poll¢l•s l¢oniinu•n A5 partoflhp CIMJtth in W81es, lh8 is ￿ exwed lh• nK*aring ol Ihe Taxes Acls. Accordingly il is ￿t￿lI￿￿eX$￿J1 frtsn tay2tth in respedol aThJ capital ga￿$ rece￿￿1 to IhB extent Ihat suth income or are apw ioexchJ5Nety tharit•bk pU￿1$es. No 21 Voluntsry kncom• Rtslrictèd Funds Total Funds 2024 Total Fund5 2Q23 Gemral D*S￿￿al0d Oonaii¢)n$ Planned Loose ¢dlÈcb"ons Chwtsbte gmng Wed(h"ng, Boplbsffl & Funeral fees Trecco Bay Cmrch Fund Grant Fundi Other Oonaims Tax r8funds 92.ffj01 2fj.806 1240 94,989 26.806 4.169 23.343 103.047 22.842 5.224 20.775 1.929 .641 30,019 36.641 52.152 JS.816 62.621 122,441 29.996 22.133 35,816 70.897 273,916 366.945 7113 MARGAM MINISTRY AREA NOTES TO THE FINANCIAL STATEIIElffS FOR ThÉ YEAR ENDED 31ST DECEM8ER 2024 31 Incomkng R•8oure•• IromA¢ll¥lUK for G•n•m￿n9 Fwu15 Toial Funtts 2023 Funds FundB 11.178 11.178 3$3 10.370 St Dgvyj's chw¢￿ P￿th¢wIl Al Sa￿ts Chwrch, P(Kthcav4 St Thec*lore C￿)r(h, Kerf￿ H e & Kenfvj Chlths St Mary, Margam Ab 1.ts11 5.141 7.130 1•.500 •.317 16280 S141 7,130 10.510 9.317 16.200 11,225 3.85J 2.005 21.ty17 .Q26 1.676 1.359 319 11.125 5.245 2,150 1.505 13.771 10.065 2.660 2,595 27.313 58.780 1.277 1.48 772 26,047 I SainLs' Hall. Sl 08virfs Hal. Porthc & KenfrJ Church Halb st Marys Churth Ha¥. At*ey Ktrnlo Community Shop Margam Abw Shop Z.0115 28.017 58.026 1.676 1.359 319 1•.555 100 ¢￿b. Pylg & K•nf Magaines CXberryKneyiai5w ￿ll¥rt 47• 70 ,005 41 In¥e8knwnt Incoon• Totsl Totsl Fut 2023 2•24 Rw*al iVKYJtn Bank ￿lI￿rest rèt8Nablè Irtsvrance C￿M$ S¥e olassets Invaslmenl inctym Profil OD dsFrf)sal offijnd InuBaselldecr&asel in math*t ¥8h 13.676 13.676 12.067 11.582 8,734 75.Z31 4070 11.n3 13,657 28.681 21.637 57.JOU n.937 137.885 51 ¢0sts of Charltabfe AGIMtl•8 by Fund TTr• Tot•1 Funds 2024 Totsi Funds 2023 Funds Minystry. Quola Uinistry.Qwla refwds Mini$try- QW C*gy expenses Cost ol￿r￿ acknY* {M*g 1 chatltdb￿¥y*wj 214.536 15.4081 214.S36 15.4061 2Lh),199 109 15.894 343.777 9.533 11933 1•7.111 3.614 12.933 214.161 4.146 413. 21612 440.370 $48,360 8113 MARGAM MINISTRY AREA NOTES TO THE FINANCLAL STATElIEl￿s F(Th The YEAR ENDED 31ST DECEMBER 2024 61 Staff Costs Em•lum•nts P•rtlvJl•rn ol Tanglblè Flx•d A88•ts Land & 8ullding8 Total ¢o¥t At 01 Jarmjay 2024 Additi￿$ 4K￿l$ At 31 D8rember 2024 120.CKWJ 15,44fi 120.wo 15,448 135.448 135,448 Nrt BoDkValu• Al 31 December 2024 135 135 Bwht La￿j & BuitrJirwJsrepros•x Ihe t£*loldwtywo)ert*s al Lane Wesl End A¥￿U Porfh¢a*l. wits.on ki Iho year reve5￿ts ai rèar tA SW*Jb*i Ro*J. K8nfvJ HI. &#J9&Th1. CF33 6DE, purchased 17th Au9USt 2021. Inrtw ewnse(i ￿￿[￿ed ￿ 2W24. Th• R•pr•Mnt411v• Body ￿ th•¢lw¢h kn Vl•l•s In￿11￿￿￿ Fund# 2024 2023 mark￿ value al 01 JarnI￿2024 641.247 11.723 598.909 14.043 13861 Cost ol inve$tment Profft on dl$k*)sal ur4ts P*d to fvnds 1D8cfease￿CIease ￿ rnakel 7,702 2&654 28.021 Plvk•t v•lu• •131 D•wfib•r IU24 6ts,326 641,247 IAYestmonts qi• rnad• cffj Ybthè hWes1￿ FLThI are stalod ai the mathl value 01£2.3337 peiurtiai 31 De¢oThts 2021 131 fknber 2023.. £2.2.21251. ￿d￿jed ￿ Ihè total is £60.2S912023.. £48.0641 hetrj in ¢xh by Bc#tyrflh8 (￿￿ch m W*5. Inchjded w) th8 itsve8trnth￿ tota *e caK*d aThJ a v*eo1£552.874 IX)23.. £515.5811 for th8 Dr EM DovEsVineFiu fvTrJ. £38,20012023". 136.2161 for Il* DavK1 Gkn Ev•is fthThl. £10.04012023.. £9,518) the Sl John's Chw(*y8rd Amalgawaw luNI and £77,&%212023.. E70,1051 ky the GL¥Jfvey Jame$ lund. alwg £10,36012023.. £9.8251 lorthè Marg*m Fwj.. "tthas begn raisedin 2025 that rh6 Feffjdis IJ81*tyR8CIWknthe bentrfftafthtr Port T& 9113 MARGAM MINISTRY AREA NOTES TO ThE FINAhtCIAL STATEMENTS FOR ThE YEAR ENDED 31ST DECEMBER 2024 81 In•￿Iments leonunuedl Trea8ury War Stocks 2024 2023 Value at 01 January 2024 IC*ueas8)fincie8se ￿ market va￿ offuThd ￿lts Mwkot ¥4￿• al 31 D4G•rnb•r2024 atysl$ olln¥Mtments b•lween lund R•stsl¢t•d Fund• Totsl Funds 2024 Total Funds 2023 Funds G•nÈral 0•8lgnat RBCIW- Dr Ell*l Grace Da￿e5 RBCIW - Davld Tumer Gl•) Ev￿$ RBCN4 - Amalgamated Fund RBCIW . Canon (￿treY Jarre$ RBCIW - m￿arn Mainlenance Fund Tr•asuryWarsioth$ 552.874 38200 10,040 73.964 10,380 552.874 38.200 10,040 77,852 10,360 515.581 36.216 9,518 70.105 9,825 50 3.938 685.438 689.3T6 641.297 fumalion on Ihe r8stnctKffis. desi￿alK￿S and PU￿)¥88 cl Ihelwth 15 wKkKJ•d Nth 9. 10113 MARGAM MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2D24 91 8¢alèment ol Funds Resorn ExpeThl8d Be￿een Unrestrfct•d Fund5 Gener31 FUTHJS De$igrtaied FuThJ$ C￿rgY Propert￿$ 222.720 402,6Q4 {413.4881 45,082 256,918 120.IKKI 120.IMI Total urwostricled fuT¥Js 342.720 402,604 413.488 45.082 376.918 R•strfet•d Funds St JDhn's Buihjing F￿d All Saints, B￿ding Fw St David's Fund Sl John BaptiSI Ctrwrchyard Tntsl Di Ethel Oa¥ies- Vinwi8S The ColrtlVParker Fund Davul GL4n Evans Tnjst Fund Sl Theodore'5 B￿￿11￿J FUNI St Theodore's Misswm Fund Canon Godfrey James Tru$1 Fwd St Mary Magdalene Buibjing Fw St Marymagdalene Graveyartl Fw St James B￿l￿n9 Fth)ds St James Graveyard FUN Walers Lougher Trust Margam Abb8y ￿gan Fur ar9arn Abbey GravtyaTd Fund Mawgam Abbry Maint8n8nce Fund ￿￿151ryArea MISS￿ Fund Charilabie F￿d3 ant FI￿d5 8.912 8.472 291 916 37293 112.5141 (3.6861 60.714 28.830 6.659 18.135 $52,874 102.932 38.200 12.670 30 73.964 37,96 1.934 23,494 1.934 61,653 32.889 14.806 24.327 48,875 2,225 110.0001 20,358 515.581 36.216 6,470 70.105 42.564 3,659 575 1,154 15.1701 59320 13fj.2261 1.1S4 230 61,423 14,11 10.563 24,387 1.828 19.334 31,754 929 1g.LMY)} IS.5701 7,2651 15321 (1.0001 Total reslricted knd5 1.080.412 128.666 26.882 145.0821 1,137,114 Total Fund¥ 1,423.132 531.271 440.370 1.$14,033 The MAC has set aside lunts out of ￿le$b￿￿ hjnds lor SF￿ purp)5e5.' Ih85• hJnd$ aro a$ De*gnaied Funds. The Dewgnated Funds Irt￿e rrw*s desonated kYtl* be￿fft Atrkny aloryj ￿1h two prowb8s in P(xlhcawl, upon Ihe salè olwhich the become LThe$￿. The Di Elhel Da¥￿S- Winerie5 and Ihe Si John* C￿rthy*d Amab3amated Fund are held a5 inv851ment5. as s•t ¢)ut in note 810 lh& accounts. St John's Church is to the interesl cfi these fffiQ$. bYhi¢h is to be appl*d lor th& maintenance of Sl John's chu￿ Ihe ¢1￿h￿￿ rpsw*vety. The￿[￿tal ￿ these l￿d8 hebj by Ihe RepresentativÈ Body ofthe Chwch in Wakn on Irusl. The Funil ar4J DavMI G￿ E¥on$ TnAt Fund hobj bequests Iho ￿n￿rit of St J¢)hn'$ CNJrth. All Saints. Church and St Oa¥•ls The ￿0Tr GodlweyJwre5 Try51 FutKJ trx¥kls b8qu8sIs 9Nen for the ben8Ql of Sl Thw)dore'5 Clwrth. These funds are rest(thd in W *ith thg ￿sInc1￿5 ol th8 ￿di￿dual bequasts. Th& Waters Loughw TnJ5t hL*J5 loi arDc*s of r￿{￿￿¢￿(x￿I0rt to be $￿9￿1$•d ￿ the benefit of pc porsons resR11ng In Ihe areas of Pyl& and K8nfbJ. 11113 MARGAM MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 101 Anawis of N•tA8$•ts B*¢we•n Fun&& T* Inveslments Nel Curreni Assets Total RBstI￿tad Ir￿n￿ lunds Unrestricled incom• 685.438 3,938 451.676 237.533 1,137,114 378.918 13S,448 R••our¢•• Exp•nd•d 135.448 689,376 689,208 1.514.032 111 Translers 8elwwTr Fund• Fwds were transkned be￿eeft Unrestrited arm1 StJohn's &ribJing Restrthd F￿J5 thJrtr¥J ￿ar as r8imbursement of prior year spends Ir(rfn Vwest￿ted forthe ben•f# ￿ st Jckn's. Tfansfers from Ihe Sl Mary Magdalern Sl JTh5 F￿￿$ the F￿d. bmgtng Ihe clf balaneos in lirte the *mts otlhe lo Ihese fLmds. Two amcw15 of £20.OOOwere transferr￿ t￿tr￿een f￿arker COIF accujnt and GIF general account during 2024 a5 a cash loan butthe funds ￿rna￿ restricied. therefue th8s8 tr￿fer$ be repahl #nd #re not sho￿7 above. 12113 MARGAWI MINISTRY AREA NOTES TO THE FIYANCIAL STATEMEMTS FOR THE YEAR ENDED 31ST DECEMBER 2024 121 ¢o•ts of Church Actl¥ltl•s Total 2024 Funds Fund¥ 2023 Ma5ntm•n¢• of S•r¥l¢ Altar wuisite5 Orgary$ls, chcrfs, sacri8lans Other expen5e5 Cleaning Heal & ￿gh1 Other ser¥Kes 100 aub 3,158 4.758 3,731 1158 4758 1731 1399 39,214 IB.5531 625 5.847 80,524 2,393 41.033 5.707 &35 39.214 li5531 625 45.331 45,331 136.782 Chwch Malnt•nan In5wane• St John, All Sainls St Da¥itts St Theod￿e'S St Jam89 St Mary Mao(lakne Margam Abbey 0.526 7.903 12.941 8.526 20hl8 12.941 15711 3.393 13,601 &892 17,186 4.886 7,878 19,722 8,689 14,Z8fj 6.67S 3,925 39.527 12A14 3.383 11.616 S.570 63293 16.064 81378 105.587 Proporty Malntsnan Sf John'5 Sthoolro)m St John's CMrthyard AH Saints. Hall St DavKI's Hall St Theodore dher Kenfig Hill Cotnwnty Shop Pfv & Kenfu Church Hall Margarn Churth Hall Cl8rgy Houses 1.559 2.580 4.872 4M72 2,723 1209 9.180 9.274 IA56 4.997 T.438 10310 5.144 3.398 4.011 9.1 9274 1,456 997 32.S46 31546 35.604 G•nernl Parfsh EX￿n￿•S prin￿r￿j & s18lion8ry Misslth Fund Independent 6xarNnerfs fees Margatn Abbey Sh¢)p Oth8r exp8n8es 9.619 9,619 7.265 1620 22.460 12.942 8.513 15,434 2.610 29,657 9.589 7.265 1.620 22A60 12.942 8.265 54.906 65.803 187 11 214 1fj1 343,777 13113