The Friends of Salem
Report of the trustees for the period ended 31 March 2025
The trustees present their first report and financial statements for the year ended 31 March 2025.
Reference and administrative information
Charity name: The Friends of Salem Charity registration number: 1160570 Registered and Operational office: Salem Chapel Vestry Coychurch Road Pencoed Bridgend CF35 5LY Contact: pencoedtownclerk@gmail.com Bankers: NatWest Insurers: Congregational and General
Trustees during the year ended 31 March 2025
Jim Hancock OBE Chair Geraint Thomas Secretary to 31 March 2025 Morgan Davies Secretary from 01 April 2025 Appointed as Trustee 05 December 2024 Kathryn Morris Treasurer Eluned Williams Richard Williams Janet Jennings Appointed 04 December 2024 Robin Owen Appointed 05 December 2024 Myrtle Bradshaw Until 01 August 2024
It is with sadness that the Friends of Salem record the passing, in August 2024, of a Founder Trustee and dedicated member of Salem, Miss Myrtle Bradshaw, at the age of 102. She will be greatly missed.
The Friends of Salem would like to extend their grateful thanks to Geraint Thomas for his diligent service as our Secretary over many years. It is good to know that he will support the Friends by continuing as a Trustee.
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Trustees’ report
Our aims and objectives
Our charity’s purposes as set out in the objects contained in the constitution dated January 2015 are for the preservation, repair, maintenance and improvement of Salem Chapel for the benefit of the inhabitants of Pencoed as a community centre and as a place of worship. Also, to associate the residents with the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.
Ensuring our work delivers our aims
The Friends of Salem negotiated a 25-year lease with the Presbyterian Church of Wales who own Salem Chapel and therefore, the Friends have become responsible for the maintenance of the buildings. The Friends actively promote the buildings as a centre for community use and make them available for hire by various organisations for events.
Achievements and future developments
Financial Review
The charity was registered on 20 February 2015.
In the year to 31 March 2025 rent and hiring fees of £7,553 (2023/24 - £7,627) were received from a variety of organisations for the use of the chapel, vestry and other attached buildings. A donation of £1,000 was received in memory of EJ Worrall.
During the year, the interior of the vestry and the chapel doors were painted. The chapel clock was repaired. Work was carried out on the trees and the hedging.
During the year, payments were made for normal maintenance, insurance, electricity, and cleaning.
Pencoed Town Council operates under a sub-lease granted by The Friends of Salem for use of the vestry as an office.
The total Net Assets of the Trust on 31 March 2025 are £19,763 (31 March 2024 - £17,255).
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Trustees’ responsibilities in relation to the financial statements
Trustees are required to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial period. In doing so the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make sound judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is appropriate to presume that the charity will not continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Under Charity Commission requirements neither an independent examination nor an audit of the accounts is required, and an audit is not a requirement of the Trust’s Governing document.
Structure, Governance and Management
Governing Document
The Friends of Salem is a Charitable Incorporated Organisation governed by its Constitution dated January 2015. It is a registered charity with the Charity Commission. The trustees have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities in the event of the charity’s winding up.
Appointment of trustees
The board of trustees, which can have up to twelve members, must have at least three members.
Trustee training
New trustees are briefed on their legal obligations under charity and company law, and all trustees are encouraged to seek training that would contribute to their work.
On behalf of the Trustees
M Davies Secretary
Date : November 2025
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The Friends of Salem Statement of Financial Activities (including income and expenditure account) for the year ended 31 March 2025
| for the year ended 31 March 2025 | ||
|---|---|---|
| Year ended | Period ended | |
| 31 March 2025 | 31 March 2024 | |
| £ | £ | |
| Incoming resources | ||
| Incoming resources from generated funds: | ||
| Voluntary income: | ||
| Donations | 1,000 | - |
| Activities for generating funds: | ||
| Rent and hiring fees | 7,553 | 7,627 |
| Total incoming resources | 8,553 | 7,627 |
| Resources expended | ||
| Property costs | ||
| Repairs and maintenance | 3,300 | 1,935 |
| Insurance | 1,640 | 1,548 |
| Cleaning | 390 | 975 |
| Heating | - | 582 |
| Electricity | 647 | 935 |
| Sundry | 40 | - |
| Bank charges | 28 | 22 |
| Total resources expended | 6,045 | 5,997 |
| Net incoming resources | 2,508 | 1,630 |
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The Friends of Salem Balance Sheet at 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current Assets | |||
| Cash at bank and in hand | 19,763 | 17,255 | |
| Net Assets | 19,763 | 17,255 | |
| Unrestricted funds | |||
| General Fund | 2 | 19,763 | 17,255 |
| Total Funds | 19,763 | 17,255 |
The trustees have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
The financial statements were approved by the Board of Trustees on 25 November 2025 and were signed on their behalf by:
R J Hancock J Hancock K Morris Chair Treasurer
The notes on page 6 form part of these financial statements.
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Notes to the accounts
1. Accounting Policies
Basis of preparation
The financial statements have been prepared under the historic cost convention and in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities, applicable UK Accounting Standards and the Companies Act 2006. The principal accounting policies adopted in the preparation of the financial statements are set out below.
Incoming resources
Voluntary income including rent, donations, gifts and grants that provide core funding are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income from activities for generating funds is recognised as earned. Investment income is recognised on a receivable basis.
Resources expended
Expenditure is recognised when a liability is incurred.
Legal status of the Trust
The Trust is a charitable incorporated organisation and has no share capital.
2. Movement in Funds
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Unrestricted | Unrestricted | |
| At 01 April 2024 | 17,255 | 15,625 |
| Incoming resources | 8,553 | 7,627 |
| Outgoing resources | (6,045) | (5,997) |
| At 31 March 2025 | 19,763 | 17,255 |
3. Payments to Trustees and Connected Persons
No Trustee or person with a family or business connection with a Trustee, received remuneration in the year, directly or indirectly, from the Charity.
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