2024-03-31-accounts

Company registration number.. 08721946 Charity registration number.. 1155470 Calvary Church (Haverfordwest) known as Calvary Church (A company limited by guardntee) Ajlliual Report and Financial Statements for the Year Ended 31 March 2024

Calvary Church (HaVerfordW￿t) known as Calvary Church Contents Reference and Administrative Details 2to4 Tn￿tees, Report ]ndependtnt ExamineT'5 Report Statement of Financial Activities Balance Sbeet 8t021 Notes to the Financial Ststements

Calvary Church (Haverfordwest) known as Calvary Church Reference and Administrative Details Chairman Reverend A G Vaugban Charity Registration Number 1155470 Company Registration Number 08721946 The charity is incorporated in England and Wales. Meadow Bank Clarbe5ton Road Pembrokeshire SA63 4SL Registered 0￿]ce Independent Examiner LHP Haverfordwest I st Floor Agricultural House Winch Lane Haverfordwest Pembiokeshire SA61 IRW Page I

Calvary Church (Haverfordwest) known as Calvary Church Trustees, Report The trustees, who are directors foT the purposes of company law. present the annual report together with the fll]ancial statements and auditors, report of the charitable company for the year ended 31 March 2024. Objectives aDd activities Objects and aims The church fmances are healthy and the cOngre￿￿tIon continues to grow. Objectives, slrategiu ttnd ttclivities The church has experienced an encouraginu year in every aspect of its life. Thougb we suffered numerical losses as a result of Covid, the congTegation has started to gTOW agaitk Witb new faces being seen in our services every week. Our youth work too has been very encouraging with over 20 teenacreTS attending the weekly youth group. The church has taken on an assi5t8nt minister. who has been given the chaplaincy of the Pembrokeshire Colle(ye of Further Education, where he is able on a one-to-one b&sis to counsel YO￿gsterS suffering mental health issues. The a5SiStant minister is also plaDning to restart a midweek children's work this year. The church continues to reach out to the elderly visiting Tesidential homes and those who are sick. Although everyone is experiencing the cost-of-living crisis tbe church's f￿8ncial positio[4 though challenging, remains in profit. Our Project of building a new church cor£ununity centre progresses well and we are boping to sell our present place of worship and move into our new building before the end of this year. The new building is much 18rger with many more facilities enabling us to reach out into the conununity to help all age groups in a rouch eater way. Public benefit To advance the Christian faith in accordance with the statement in such ways and in such parts of the United Kingdotn or the world as the directors from time to tijne may think fit. To relieve sickness and fjnancial hardship and to promote and preserve good health by the provision of counselling and support in such part5 of the United Kingdotn 01 the world ￿ the directors from tirne to time thiDk fit. To advance education in such ways and in such parts of the United Kingdom or the world as tbe directors from time to time may think fit. The trustees confirm tbat they bave complied with the requiTements of section 17 of the Charities Act 20 I I to have due regard to the public bellefrt guidance published by the Charity ComttLission for England and Wales. Page 2

Calvary Church (Haverfordwest) known as Calvary Church Trustees, Report Trustees and officers The trustees and officeTS serving during the year and since the year end were as follows: Tn￿tees. Mr B S Hughes Mr L R Stone Mr H R Francis Mrs F E A Hughes Chairnian.. Reverend A G Vaughan Financial instruments Objectives ondpolici The charity's activities expose it to a number of financial risks including credit risK cash flow risk and liquidity Tisk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financÈal instruments for speculative purposes. Credil risk The charity's principal fujancial assets are bank balances and cash, trade and other receivables, and investtnents. The charity's Credit rtsk is primarily attributable to its trade receivables. The arnounts presented in the balance sheet are net of allowances for doubtful receivables. All allowance for impairment is rnade where there is an identified loss event which. based oll previous experience, is evidence of a reduction in the recoveTability of the cash flows. The credit risk on liquid funds and derivative fmancial instrtunents is limited beca￿Se the counteTparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity h&5 no sigllificant concentration of credit risK with exposure spread over a large number of counterparties and custOTneTS. Liquidity risk In order to maintain liquidity to ensure that sufficiellt fimds are available for ongoing operations and future developments, the charity uses a mixture of long-tern and short-terni debt finance. Further details regarding liquidity risk can be fouud in the Statement of accounting policies in the ffflancial statements. Page 3

Calvary Church (Haverfordwest) known &8 Calvary Church Trustees, Report Statement of truste¢s' responsibilities The trustees (who are also the diTectors of Calvary Chwch (Haverfordwest) for the purpose5 of company law) are responsible for preparing the tsustees, report and the financial statements in accordance with applicable law and Unit¢d Kingdom ACCO￿ting Standards (Untied Kingdom Generally Accepted Accounting Practice). including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requites the trustees to prepaTe financial ststements for eacb financial yvar. Under compar]y law the trustees must Thot approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, includinu its income and expenditure. of the charitable company for that period. In pr¢paring these fmancial ststements, the trustees are required to". select suitable accounting policies and apply them consistentty- observe the methods and Principles in the Charities SORP" make judgements and estimates that are reasonable and prudent" state whether applicable accounting standard5. comprising FRS 102 have been followed, subject to any material departrjres disclosed and explained in the financial statements.. and prepare the fLnancial statements on the going concern basis unless it is inappropriate to Presume that the charitable company will continue in business. The tr￿SteeS are responsible for keeping proper accountiug recoT(L8 that can disclose with reasonable accuracy at any time the financial p051tion of the chxritsble company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the preventiOD and detection of fraud and other irregularities. The trustees are responsible for the niaintenance and integrity of the corporate and fmancial infonnation included on the ¢h&Titable companvs website. Legislation governints the preparation and disseminaiiOTh of f￿anCIal statements may differ from legislation in other jurisdictions. Disclosure of information to auditor Each trustee has taken steps that they ought to have taken &s a trustee in order to make themselves aware of any relevant audit infomiation and to establish that the charity's allditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. The annual report was approved by the trustees of the charity on 30 September 2024 and signed on its behalf by: Reverend A G Vaugha Chairman Page 4

Calvary Church (Haverfordwest) Itnown as Calvary Church Independent Examiner's Report to the trustees of Calvary Church (Haverfordwest) ('the Company,) I report to the charity trLL8tees on my eX￿nI￿allOn of the accoullts of the Company foT the year ended 3 1 March 2024. Responsibilities and basis of report As the chaTity's trnstees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the a¢counts in accordance with the requirements of the Coll]p8nies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinatio￿ I report in respect of my exatnination of your charity's accounts ￿ carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out Tny examination I have followed tbe Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent exan)iner's 5tstement I have completed my examination. I confirni that no mattfflE have come to my attention in Connection with the examination givtng me cause to believe: l. accounting records were not kept in respect of Calvary Church (Haverfordwest) as required by section 386 of the 2006 ACL or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accourjting requirements of section 396 of the 2006 Act other thall any requirement that the accounts Eive a 'lTue and fair view which is not a matter considered as part of an independent examination" or 4. the accounts have not been PTepared in accordance with the lllethods and principles of the Statement of Recornmended Practice for accO￿]ng and reporting by charities. I have no concerns and have come across no other matters in coyjnection with the exam7nation to which attention should be drawn in this report in order to enable a proper undeTStanding of the accounts to be reached. Mrs J Collins 1st Floor Agricultural House Winch Lane Haverfordwest Pembrokeshire SA61 IRW 8 August 2024 Page 5

Calvary Chureh (Haverfordwest) IinoThvn as Calvary Chureb Statejnenl of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Accoullt and Statement of Total Recoanised Gains alld Losses) Tot21 2024 Total 2023 Unrestricted Restricted Note Incoyne 2nd Endowrneuts from: Do[Latio￿ and leJ(T Cits Charitable activities Investtrlent income 12J,30J 874 181,8J6 874 411 197,573 891 113 411 58.944 l83,121 198,577 Total Income 124,177 Expenditure oll: charl￿ble activities (119.932) (119.93; (114.653) (114,65J) 83,924 (119.932) Total Ex?enditure Net incorne (119,932) 4,245 58.944 83.924 Net Taovejnent in fimds RecollcilistiotL of funds Total fi]nds brought forward Total fimds ca￿Led forward 4.245 58.944 63,189 59,914 64.159 1.513 1.573,164 1.489.240 1.573,164 I,636,353 16 1.572.194 All of the charity's activities derive froTn continuing operations durincr the above two periods. The funds breakdovrn ftir 20?3 is shown in note 16. The notes on parres 8 to 20 forn an integral part of these financial staternents. Page 6

Cafvary Church (Haverfordwest) knoivll as Calvary Chureh (Registration number: 08721946) Balance Sheet as at 31 Marcb 2024 2024 2023 Note Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 2,265,649 2.339,885 12 13 1.893 37.581 66.204 39,474 Creditors: Amounts falling due within one year Net current assets 66,204 14 (1.970) (2,202) 37.504 64.002 Total assets less current liabilitie5 Creditors: Amounts f4llRng du¢ after more than otte year Net assets 2.303.153 2.403.887 15 (851.074) 1.452.079 (830,723) 1,573,164 Funds of the charity: Restricted income fullds Restricted fi]nds 1,572,194 1.513.250 Unrestricted income funds Unrestricted funds 120.115) 1.452,079 59,914 Total fund5 16 1.573,164 For the financial year ending 31 MaTch 2024 the charity was entitIed to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. DirectOTS' responsibilities: The membeTS have not Tequired the charity to obtsin an audit of its accounts for the year in question i accordance with section 476. and The directors acknowledge their responsibilities for COTnplying with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 6 to 21 were approved by the t￿￿e$. and authorised for issue on 30 September 2024 and signed on their behalf by: Mrs F E A Hughes Trustee The notes on pages 8 to 21 forn] an integrdl part of these financial statements. Page 7

Calvary Church (Haverfordwest) knowll as Calvarv Cburch Notes to the Financial Statements for the Year Ejjded 31 March 2024 I Charity status The charity is lirnited by shaTe capital. incoryorated in England aud Wales. 'rhe address of its registered ofnce is= Meadow BanK Llarbeston Road PembrokeshiTe SA63 4SL Tlie PTincipal place of business is: Meadow BaT Clarbeston Road Pembrokeshire SA63 4SL These fman¢ial statements were authorised for issue by the trustees on 30 September 2024. 2 Accounting policies Summ2ry of signifieant accounting policies Jnd key accounting estimatLs The principal accounting policies applied in the prepaTation of these financial statements are set out below. These policies bave been consistently applied to all the years presente(t unless otherwise stated. Statement of compliance The fLnancial statements have been prepared in accordance witb Accounting and Reporting by Charities: Statement of ReconLmended Practice (applicable to charities prepari[￿0 their accounts in accordance with the Financial Reportinir Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Charities SORP (FRS 102)). the Financial Reporttsig Standard applicable in tbe UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Calvary Church (Haverfordwest) meets the def￿ltiOn of a public benefit entity und¢T FRS 102. Assets &Dd liabiLities ￿'e initially Tecognised at historical ¥OSt or transactiou value unless otherwise stated in the relevant accounting policy notes. Going concern The trustees consider that there 3Te no rnaterial uncertaintie5 about the ch2rity'5 ability to continue as a going concern nor any significant are￿ of uncertainty that affect the carrying value of assets held by the charity. Exemption from prepgring a casb flow statement The charity Opted to early adopi Bulletin I published on 2 February 2016 and have therefore not included a cash flow staiement in Ihese financial statements. Page 8

Calvary Cbureh (Haverfordwest) known as Calvary Church Notes to the FiDallcial Statements for the Year Ended 31 March 2024 Income and endowments All income 15 recognised Ollce the charity has entitlement to the income, it is probable that the income will be Teceived and the amount of the income receivable can be measured reliably. Donftlions ftnd legneies Donations are recognised when the charity has been notified in writing of both ttLe amount and settlement date. n the event that a donation is subject to conditions that require a level of perfomance by the charity before the charity is entitled to the funds. the income is deferred aDd not recognised until either those condition5 are ￿llY met. or the ￿lfIlment of those conditions is wholly wttbin the control of the charity and it is probable that these conditions will be ￿lfilled in the reporting period. Gift aid Incoming resources from tsx reclaims are included in the Statement of Financial Activities at the same tirne as the gift to which they relate. Expenditure All expenditure is recognised once there is a legal OT COnst￿ctive obligation to that expenditure, it is probable settlement IS Tequired and the amount can be rneasured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on 2 basis consistent with the use of resource5, with central staff costs allocated on the basis of time spen¢ alld depreciation charges allocated on the portion of the agset's use. Other 5UPPOrt costs are allocated based on the spread of staff costs. Cliaritable aclivili Charitable expenditure comprises those costs Rncurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to sucb activities and those costs of an indirect nature necessary to support thenL Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example. allocating PToperty costs by floor areas, or per capito staff costs by the time spent and other costs by their usage. Governance Costs These include the costs attributable to the charity's cornpliance with constitutional and statutory requirements, including audit, strategic management and trustees. meetings and reimbursed expenses. Tax#tion The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definitioT] of a charitable company foT UK corporation t&x pury)oses. Accordingly. the charity is potentially exetnpt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the CorpoTation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such incorne or gains are applied exclusively to charitable purposes. Page 9

Calvary Church (Haverfordwest) known as Calvary Church Notes to the Financial Statements for the Year Ended 31 Marcb 2024 Tangible fued assets ndividual f]xed assets ¢ostxng £100.00 or more are initially recorded at cost. Trade debtors Trade debtors are amounts due frorn customers for tnerchatLdise 501d or services perforn]ed in the Ordinary course of business. Trade debtors are reCO￿niSed initially at the transaction price. They are subsequently measured at amortised cost usincr the effective interest method, le55 provision for impaiTmenL A provisioD for the impairtnent of trade debtor5 is established when there is objective evtdence that the charitv will Dot be able to collect all amounts due acGQTding to the original tellns of the receivables. Cash and cgsh equivalents Cash and cash equivalents con]prise cash on hand and call deposits. and other 5hort-tern highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignifiGant risk of chan￿e in value. Page 10

Calvary Church (Haverfordwest) known as Calvary Church Notes to the Financial Statements for the Year Ended 31 March 2024 Borrowings InteTest-bearing bo￿oW1n8$ are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cos¢ with the difference between the proceeds, net of transaction costs. and the arnount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recogntsed on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities Unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Reserves Policy The reserve5 policy for CALVARY CHURCH (HA VERFORDWESD is to aim to hold at least three months, general incorne as cash reserves. This is ID addition to any fixed assets held and used for the church's aims and purposes. This level of reserve5 should ensure that at any time of the year the Church is not required to bo￿OW funds on overdraft from its bankers. Any additional reserves are generated with a view to fund longer-term projects. Delegnled FinancialAulliority Policy & Procedure The Trustees shall delegate financial authority limits &s follows: Cont￿1 Some of our are￿ of expendittTre are quite mall and some quite large. Most of our spending is regular, but there are a few one-off items each year. Some of our income and spending is "lumpy" so it can appeaT Out of line in one particulat quarter but acthally remain perfectly on track to meet the budget for the year as a whole. Delegations Trustees are to be consultsd for any one-off item above £5000. so that Trustees know about large, unusual expenditures. TTUStees are to be aware of all vartations. but must be infornied &$ soon as there is an expected end of year variation on a budget area above l O /0 but excluding those cases where the value of that variation is under £3000 is about l % of our annual expenditure. This helps Tn￿teeS to keep an eye on significant vaTiations. Reporting Procedure Financial updates to be produced for the Trustees no less than 3 months. 6 months. and 9 months into the financial year, as well as at the end of the fJllanciaI year. Pagell

Calvary Church Ulaverfordwest) kDOWD as Calvary Church Notes to the Financial Statements for the Year Ended 31 March 2024 Investments Policy The Trustees of CALVARY CHURCH (HAVERFORDWESTI tske the view, both corporately and individually, that the financial objective of its iThve5trnents is to generate a 5UStainable return to help deliver the objects of the charity. Tlie Trustees have a￿eed that a sum of £30,500 from general reserves (in accordance with the Reserves Policy) should be invested to provide such a refurn, and that the designated sums should be invested appropriately until required. Inveslmenr Objective The overall investment objective is to produce best financial return with an aGceptable level of risk whilst minitnising the risk OS capital losses. Investments are tyenerally foT the loncr term and Tn￿teeS will ensure that their ability to meet fMNre plarLned expenditUTe is not compromised by over-investment Risk The Trustees of CALVARY CFtURCH (HAVERFORDWEST) have considered the following risks and mitigations.. (the following are examples) inflatioE) and fall in capital values, mitigated tlLTough investment in appreciatiDu assets or fixed deposit accounts fall iii value or failure of specific investment vehicles, uiitigated by diversification of assets alld investment portfollos failure of investmeni counterparties, mitigated by Tequiring a minimum 'A' credit rating foi. deposit-taking Insti￿tiOnS and a maxinium £200,000 cash deposit peT counterpary Liquidity CALVARY CFtURCH (HAVERFORDWEST) will Tetain £IO.000 in easily Tealisable assets sufficient to meet its short-tenn eyenditure plans over 6 months. Eiliical Policy In line with its ethical policy. CALVARY CHURCH (HAVERSORDWEST) will not invest in". the tobacco industy arniaments gambling porno￿aphY or any other industries that are not in line with biblical beliefs Manllgemenl, Reporting and Monitoring All investment decisions will be made by the trustees collectively. £30,500 is to be beld in reserve as a condition of the mortJge that we have with Kintydom Bank Ltd. Page 12

Calvary Church (Haverfordwest) known as Calvary Church Notes to the Financial Statements for the Year Ended 31 March 2024 Foreign exchange Transactions in foreign CUTrencies are recorded at the rate of exchange at tbe date of the transaction. Monetary assets and liabilities denominated in forei￿ Currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. The results of overseas operations are translated at the average rates of exchange during the period and the3 balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net ossets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests &s 8PPTopriate). OtheT exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for-. l ) exchange differences on transactions entered into to hedge certain foreign currency risks (see above). 2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income. and 3) in the case of the consolidated financial statements, exchange differences on monetary iterns receivable from or payable to a foreign operation for which settlemellt is neither planned nor likely to occur (therefore forniinE part of the net investment in the foTeign operation), which are recognised in other comprehensive income and reported under equity. Fund structure Unrestricted income fimds are general fimds that are available for ￿se at the trustees, discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for Specific purposes, the use of which is restricted to that area or purpose. Financial instruments Classification Financial ￿Sets and financial liabilities are Tecognised when the charity becomes a paty to the contractual provisions of the instrument. Financial liabilities and equity instiiunents are classlfied accord3ng to the substance of the contracttlal angements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Page 13

Calvary Church IHaverfordwest) known as Calvary Church Notes to the Financial Statements for the Year Ended 31 March 2024 Recognition nnd meo5uremenf All finallcial assets and liabilities are initially measured at transaction price jincluding transaction costs), except for those f]nan¢ial assets classified as at fair value through profit or loss. which are initially Tneasured at fair value (which is nonnally the transaction price excluding transaction costs). unless the a￿angernent constiwtes a fmancing transaction. If an arrangetnent constitutes a finanGing trdnsaction. the financial asset or fLnancial liability LS measured at the present value of the fubjre payments discounted at a market rate of interest for a sitnilar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enfo¥ceable ri(JF t to set off the recognised amounts and the charity intends either to settle otL a net basis, oi. to realise the ￿Set and settle the liability simultaneously. Pinancial assets are derecoyAised when and only when a) the contractual rights to the cash flows from die f￿anCIal asset expire or are settled. b) the tbarity traDsfers to another party substantially all of the risks and rewar(ts of ownership of the financial asseL or c) tbe charity, despite having retained sotne, but not all, significant risks and rewards of Ownership, has transferred control of the asset to another paty. Financial liabilities are derec0￿1sed onlv when the obli.tration specified in the contract Is discharged cancelled or expires. Page 14

Calvary Church (Haverfordwest) known as CaIvary Church Notes to the Financial Ststements for the Year Ended 31 March 2024 3 Income from donations and legacies Unrestricted General Total 2024 Restricted Total 2023 Donations and legacies- Offerings Gift aid offerings Legacies and bequest5 Missionary Fund Gift Aid Donations Building Fund Donations Building Fund gift aid donations Calvary church friends donations Gift aid tax refund Building Fund gift aid tax iefimd Calvary church frtends gift aid tax refund 25.544 75,393 25,544 75,393 22,620 71,096 30,000 4.260 17.710 20,037 9.680 4,260 17,710 20,037 9,680 22,366 5.058 5,680 12,760 19,019 8.887 20,927 5,206 22.366 5.058 1,788 1,788 1.378 123,303 58.533 181,836 197,573 4 Income from charitable activities UnrestrÉeted funds General Total fuuds Religious Activities Total for 2024 874 874 874 874 Total for 2023 891 891 5 Inveslment income Restricted funds Total funds Income from Trnts 411 411 Total for 2024 411 411 Total for 2023 113 113 Page 15

Calvary Church (Haverfiordwest) known as Calvary Church Notes to the FinaDcial StatemeAlts for the Year Ended 31 March 2024 6 Expenditure on charitable activities Unrestricted Totxl ?024 Tot21 2023 Gelleral 6,581 Religious Activities Staff costs Travellin" Honorariums Withybush Church Water Building works Insurance Bank Charges Manse Telephone Manse oas and electric Church Telephone Manse Water rates Church gas and electric Church Insuran¢e Manse Insuranc¢ Manse - Council Tax Church Lnaintenance Cotnputer and sound system Communion Wine Miscellaneous Cburch ￿nction and trips Advertisints and Stationarj. Magazines, books and tapes Loan interest Governance costs 9.158 50,945 2,509 9,158 50.945 2,309 2,217 1,000 578 2,356 629 iio 367 961 199 8,099 4.911 142 1,024 451 657 328 1,226 990 450 422 1.021 ?.629 601 109 4i9 658 1,021 2,629 601 109 658 12,932 4.186 4,186 657 815 282 1.012 927 608 68 29.218 1.158 657 815 282 1.012 927 608 68 29.218 1.158 1,356 119,932 li9.9)2 114,653 Unrestricted funds General Total funds Note 9.158 50.945 58,671 9,158 50,945 58,671 1,158 Religious Activities Staff costs Allocated support costs Governance costs I l9,9a2 Total for ?024 114,653 114,653 Total for 2023 Page 16

Calvary Church (HaverfordTrYest) known as Calvary Church Notes to the Financial Statements for the Year Ended 31 March 2024 Total expenditure Included in the expenditure analysed above, theTe are governance costs of £1,158 (2023 - £1,356) which relate directly to charitable activities. See note 7 for further details. 7 AnaIysis of governance and support Costs Governance costs Unrestricted funds General Total funds Independent exarnineT fees Examination of the financial statements Allocated support costs Tot21 for 2024 858 300 858 300 1,158 1,158 Total for 2023 1,356 1,356 8 Trustee5 remuneration and expenses During the year the charity made the following transactions with trustees: Reverend A G Vaughan Reverend A G Vaughan received remuneration of £36,660 (2023: £36.660) and £2.509 (2023.. £2,217) of expenses were reimbuTsed to ReveTend A G Vaughan during the year. The amounts paid are wages for the year. Expenses Teimbursed are traveling expenses. Agreed with Charity Comrnision No trustees have received any other benefits from the charity during the year. Page 17

Calvary Church (Haverfordwest) kDowD as Calvary Churcb Notes to the Financial Statement5 for the Year Ended 31 March 2024 9 Staff costs The aggre<yate payroll costs were ￿ follows: 2024 2023 Staff eosts during tbe year were: Wage5 and salaries 50,804 49,866 No employee received emoluments of moTe than £60.000 durino the year. 10 Taxation The charity is a registered charity and is therefore exempt frorn taxation. I l Tgngible lixed assets Land 2nd buildings Total Cost At l April 2023 Revaluations Additions 2,JJ9,88i (184.274) 110,OJ8 2.339,885 (184,274) 110.038 At 31 March 2024 ?,265.649 2,265,649 Depreciation At 31 March 2024 Net book value 2,265,649 At 31 March 2024 2,265,649 2,3J9.885 At 31 March 202J 2,339.885 Pa(re 18

Calvary Church (Haverfordwest) known as Calvary Church Notes to the Financial Statements for the Year Ended 31 March 2024 Revaluation The fair value of the compangs Calvary Church (Trafalgar Road) was revalued on 17 July 2023 by Paul Lucas Bsc (Hons) Est Man. Dip HI.FRICS of R K Lucas & Son. an independent valueT. This valuation was detemiined as the property itself ha(1 deteriorate￿ &£ little money had been spent on the building. due to the fact that the church would soon be moving. Planning pennission has been granted for 8 affordable houses, but as a condition. the council require a section 106 agreemenL which means that the value of 2 of the houses will have to be paid to the council for social housing. This bas meant that it is no longer an attractive propositioll for a developer, especially because of the huge increase in building costs since Covid. Had this class of asset been measured on a historical cost basis. their carrying amount would have been £254,273 (2023 - £254,273). 12 Debtors 2024 Other debtors 1,893 Page 19

Calvarv Cburch (Haverfordwest) known as Calvary Church Notes to tbe Finxncial Statements for tbe Year Ended 31 March 2024 13 Cash and cash equivalents ?024 2023 Cash on hand Cash at bank 66.179 66,204 14 Creditors- amounts falling due within one yeai. 2024 2023 1.386 816 Oth¢i' creditors Accruals 2,202 IS Creditors: amounts falling due after one year 2Q24 2023 851,074 8JO,7£) OtheL loans 16 Funds Other recognised oaiDs/(losses) Balance at 31 Mareh 2024 Balance at I April 2023 Ineoming resources Resources expeDded Unrestricted funds (120,115) 1,572.194 General 59.914 1?4,177 (119,9J2) 1] 84,?74) Restricted funds ],51 J,?50 58.944 Total funds 1,573,l64 18).121 (119,932) (184,274} I,452,079 Balance at I April 2022 Jncoming resources Resource5 expended Balance at 3] March 2023 Unrestricted funds General 29,033 145.5J4 (114,653) 59.914 Restricted funds 1.460.207 53,043 1,51J.250 198,577 (114,653) l 173.164 Total fund5 1,489.240 Page 20

Calvary Church (Haverfordwest) known as Calvary Church Notes to the Fin2llcial Statements for the Year Ended 31 March 2024 17 Related party transactions During the year the charity made the following related paty transactions: Qcl Calvary Church Contracting Limited At the balance sheet date the amount due to QCI Calvary Church Contracting Limited w&8 £30.603 (2023 £37,991). Page 21