OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 WJJames&Co Chartered k¢ountsnts Our Ref: JR145361GD Mr Thomas Lowes North Monmouthshire Ministy Area clo The Old Rectory Llanvapley Monmouthshire NP7 SSN Brecon office.. Blshop House ?OWhÈat st￿et B￿Con Pw5 ID3 7DG 30 July 2024 Dcar Mr Lowes Tel.. 01874622381 Fax."01874 6Z24Z7 enquiries@w￿lr￿k¢ts.uk The IinanLidl statements for the Ye1￿ ended 31 DeLember 2023 have now been prepared and therefore l enclose the following for your attention.. - Hay-on-vtye offlce.. l. A copy of thc accounts for approval. If thcse are approved can they be signed on pages S and 7 as indicaled and rcturncd to mc. I will then arrange for the Independent Examiner Report to b¢ signed. I will then provide you with copies for your records and for submission to the Charity Commission. Manche5teT H(wse 3 Castle St￿et Hry-on-wye HwÈford HR3 5DF Tel. 014978221S(> Fax."O1497 822160 enquirfes@wjjan￿.￿k 2. Our Letter of Rq)resentation in Tclation to th¢ Pr￿aratiOn of the accounts for the year end¢d 31 December 2023. Ple&8¢ review this and if you are in agreement with its contents could you ple&8e aTrange lor the letter to be printed on hel￿ed paper. signed and returned to me lor my file. Uandovery Dffictr. 16 Ston@ Street Ilandovery Camarthenshire SA20 OIP Should you have any queries or require any further infomiation please do not hesitate to contact me. Tel..01550 7Z039) enquirfes@wJJ'ame&c¢.uk Kind Tegards. W I I￿5 & Co is a tr4thngname of W I lame5 &Co Limited. ¢tyyny rewttwed in England andWales,number04435595. Yours sincerely ,JHe£Jdetw Ww.W￿aWaCroUntrThts.(￿Uk Re￿stered office.. Bishop H¢wse Iowheat Street Joanna Roderick for and on behalf of W J James & Co Limited email.. jo a).WJjiwnes.co.uk Powys LD3 7DC A list of directors can be obtainEd from the rwstered office x￿￿￿￿￿K￿m¥re8Ulated for rdnge of In￿lment twsiness activitie5 bythe Instrftute ol CharteredAtcountarrt5 In England andwales. Established 1929.

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 REGISTERED CHARITY NUMBER: 1203196 NORTH MONMOUTHSHIRE MINISTRY AREA UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2023

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA CONTENTS YEAR ENDED 31 December 2023 Page Referèneè and admlnistrative d8talls of tho charity, its trustoes and advisors Trusteès Rèport Statemènt of Trustees Responsibilities Independent examlners, report to the trustses Statement of financlal activities Balanco sheet Notes to tho financial ststements 8-15

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS YEAR ENDED 31 December 2023 Chalr The Reverend Julian Francis Gray Trustgos Rev David Charles Roberts Kay Ann Howells Emma Yvonne Robinson John Léwis Pavett Cordelia Passmor8 Jessica Mary Grahan Philippa Frances Rumsey Colin Raymond Jarrett Rev Gaynor Elizabeth Karen Jane Farr Elaine Marion Norman Verity Margarel Rumsey Thomas Ninian Lowes Janet Barr Watson Rev Caroline Heidi Ann Prince Eric Graham Evans Margaret Kathleen Parry Charity registration number 1203196 Registered Offlce 10 The Pines Mardy Abergavenny NP7 6HQ Independent Examiner J M Rod8rick, Bsc ACA WJ Jamès & Co Limited Bishop House 10 Wheat Street Brecon Powys LD9 7DG

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA TRUSTEES ANNUAL REPORT YEAR ENDED 31 December 2023 The Charity Trustees (the Trustees) of North Monmouthshire Ministry Area {the Trust) present their annual report togelher wilh the financial slatements of th8 Trust for the year ended 31 DeGemb8r 2023 These financial statements have been prepared in accordanGe with Ststement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with Ihe Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporling Standard applicable in thè United Kingdom and Republic of Ireland (FRS 102) and Charities Acl 2011 and the Trust's Constitution. OBJECTS AND ACTIVITIES The promotion of the whole mission of the Church, pastoral, evangelical, social and ecumenical, in the Ministry Area of North Monmouthshire. ACTIVITIES UNDERTAKEN TO FURTHER THE TRUST'S PURPOSES FOR PUBLIC BENEFIT The Trustees hav8 referred to the guldance contsined in the Charily Commission's general guidan￿ on public benefit when reviewing the Trust's aims and objects. All these aims are undertaken to further our objective for the public benefit. REVIEW OF ACTIVITIES Calendar 2023 was our first year as a newly constituted MinSstry Area and 8ccordSngly much time was spent in getting to know each other in what is a very large geographical area with sevenleen separate church communities. We have held a number of Ministry Area-wide servlces, including Evensong. Healing and Taizé services, along with Quiet Days and training events. During our transition phase in 2022, our Minisiry Area Holy Week services were led by Bishop Cherry and in 2023, by Archdeacon lan. They proved very popular with good attendance. FINANCIAL As slated in these ac¢ounts we are pleased to report that NMMA'S churches {with the possible future oxception of ￿0} are in a reasonable financial position at Ihe year end. POLICIES W8 have 8 seri8s of Financial and Govemance policies in place. as developed during our Iransition phase. We have adopted the Diocesan Safeguarding policy and ea¢h church dlsplays a poster indicating the fact. SAFEGUARDING The majority of MAC members have completed necessary Safeguarding Training Modules IK B & C. There were no known safeguarding issues within the MA as al 31S1 December 2023. INB: not everyone has completed Module C].

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA TRUSTEES ANNUAL REPORT YEAR ENDED 31 December 2023 ACHIEVEMENTS Despite being one and more recently. two priests down, meaning that of our Pastoral Dislricts have been without a permanent priest, Se￿ice$ have been maintained for thjse congregations. This has been possible through the good offI￿S of members of our permanent clergy team and more regularly, through the continued support provided by members of our wider clergy team who have PTO slatus. We are hopeful that recent appointments will give us a full clergy team by earty 2025. PLANS FOR THE FUTURE To continue with development of the area with a view of succession for all seventeen churGhes. GOING CONCERN Taking account of the Charills assets, the Trust8es have a reasonabl8 expectation that the Charity has adequate resources to continue in operational existen￿ for the foreseeable future. For this reason. they continue to adopt the going concern basis in preparing the financial statements. Further delails regarding the adoption of the going concern basis can be found in the Accounting Policies. RESERVES POLICY The MA will retain such funds as are necessary for it's ongoing viable operation. No borrowing of any kind will be entered into by the MA without the prior unanimous agreement of the Trustees. INVESTMENT POLICY AND PERFORMANCE Each of our churches retains it's own bank account & treasurer in Ihe event that the MA ases operation in the future. Inveslment funds are variously held at banks and other fundslCOIF and independent of the MA and we therefore have no comment on perfomance other than what is stated in these accounts. STRUCTURE, GOVERNANCE AND MANAGEMENT CONSTITUTION These are all as set out in documents previously produced by the MATT (Mlnlsty Area Transition Team). METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES Trustee appointments aré made by election at our Annual Vestry Meetings or rf necessary, periodic MAC meetings. INDUCTION AND TRAINING OF TRUSTEES Trustee training comes from the Diocese and any training is Carried out on an ad hoG basis. Training is on going and trustees will attend courses as and when is needed.

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA TRUSTEES ANNUAL REPORT YEAR ENDED 31 December 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Annual Report and the financial slatements in accordan￿ with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees lo prepare financial statements for each financial year which give a true and fair viéw of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing thesg financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP 2019 IFRS 102).. make judgements and 6slimat8S that are reasonable and prudent- slate whether applicable accounting standards have been followed. subjecl to any material departures disclosed and explained in the financial 5talements- prepare the financial slatements on the going conc6m basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements cofflply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and oth8r irregularities. Approved by order of th6 Trustee Board on by 2024 and signed on their behalf Chair of Trustees

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31 December 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NORTII MONMOUTHSHIRE MINISTRY AREA I'the Charity'l I report to the charity trustees on my examination of the accounts of the charity for Ihe period ended 31 December 2023 which are set out on pages 18 10 32. Responsibilities and basis of roport As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act,). I report in respect of my examination of the charity's a¢¢ounts carried out under section 145 of the Ad and in carrying out my examination I have followed 811 thg applicable Directions given by the Charity Commission under section 145(5}Ib) of the Act. Indapondent èxaminèrfs statement sin￿ the company's gross income exceeded £250,000 your examiner must be a member of a body listed in Section 145 of the 2011 Act. I confim Ihat l am qualified to undertake the examination because l am a member of Institute of chartered accountants, which is one of the listed bodies. I have compleled my examinalion. I confirm that no material malters have come to my attention in connection with the examination giving me cause to believ8 that in any material respect- accounting records were not kept in respect of the charity as required by section 130 of the Act" or 2. Ihe accounts do not aGcord with those records,. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounls and Report) R8gulations 2008 other than any requirement that the accounls give a 'lrue and fair view, which is nol a matter considered as part of an indep8ndent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of thè accounts to be reached. J M RoderiGk Bsc ACA WJ James & Co. Chartered Accountant Bishop House 10 Wheal Street Brecon Powys LD3 7DG 2024

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unro¥tricted Funds 2023 Designated Restricted Funds Funds 2023 2023 Total Funds 2023 N￿e INCOME FROM: Donations and legacies Charitable activities Other trading aclNilies Investments Other income 196,887 19.433 14,415 23.203 20,902 20.227 6,810 122 89 200 12,040 229.154 26,243 17.675 23,615 21.147 3,138 323 45 TOTAL INCOME 274.839 27.448 15,546 317.833 EXPENDITURE ON: Raising funds Char[tal￿e activities 2.103 273.852 2.103 325,518 35,518 16.349 TOTAL EXPENDITURE 275,755 35.518 16.349 327,621 Nel Gainsl{lossesl on investments 83,793 32,076 115,869 NET INCOMEI{EXPENDrruRE) 82.877 8,070 31,273 106,081 Transfers belween fund$ 17 15841 584 NET MOVEMENT IN FUNDS 82,293 8,070 31,857 106,081 RECONCILIATION OF FUNDS Total fundg brought forward 643.877 107,356 315,266 1,066,499 TOTAL FUNDS CARRIED FORWARD 726.170 99,286 347.123 1.172,579 The Statement of Financial Activities includes all gains and losses recognised in the year. All of the ￿tIvitIeS of the ¢harity are classed as continuing Tho noto8 on pages 8 to 15 fomi part of th•s• financlal statements

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA BALANCE SHEET AS AT 31 DECEMBER 2023 2023 Note FIXED ASSErs Investments 11 628,573 628,573 CURRENT ASSETS Debtors Cash at bank and In hand 12 9,082 539,253 548,335 Creditors . Amounts falling due wilhill one year 13 4,327 NET CURRENT ASSErs 544,008 TOTAL ASSETS LESS CURRENT LIABILITIES 1,172,581 TOTAL NET ASSETS 1,172,581 CHAR Thy FUNDS Unrestricted funds General funds Restricted funds 14 14 825.458 347.123 1,172.581 These financial statements were approved by the trusl8es and authorised for issue by the Iru51ees on . are signed on ils behalf by. . 2024 and DCF¢36CtDB4F477 TnJ$tee Trustee The noto8 On pago8 8 to 15 fom part of th898 financial statements

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 1 ACCOUNTING POLICIES Statement of compliance The finoncial statements have been prepared in aG¢ordan¢e wth the second edition of lh8 Charities Statement of Recommended Practice issued in October 2019, Ihe Financial Reporting Standard 8ppllcable In the United Kingdom and Republic of Ireland {FRS 1021 and thè Charities Act 2011. Basis of preparatio The Ministry Area ol North Monmouthshire meets the definf(ion of a public benefit enlily under FRS 102. The accounts Irinancial slatementsl have been prepared under the historical cost convention wth items recognised at cost or transaction value unless otherwise slated in the relevant nolels) lo these accounts. Exemption from preparing a cash flow statement The char¢ly opted lo early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow slalement in these financial slalemenls. Going concem The financial $tatemenls have been prepared on a going concern basis. The Iruslees assess whelher the use of going concern is appropriate i.e. whelher there are any material uncertainties related to events or conditions that may cast signrficant doubl on the ability of the charity to continue as a going concern. The Iruslees make this assessment in respect of a per￿ of one year from the date of approval of the financial statements. Incomlng resources Voluntary income including donallons, gifts, legacies and grants Ihal provide core funding or are of a general nature is recoonised when the charity has entitlement lo the income, il is probable that the income will be received and the amount can te measured bmlh sufficient reliability. Donations and legacies are recognised on a receivable basi5 when receipt is probatle and the amount can be rellably measured. Donated services or facilities. which comprise of donated services, are Inciuded In Income at a valuation which is an estimate of tre financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recoonised where there is no financial Gosl borne bv a third partv. Grants are recognised whern the charity has an entitlement to the funds and any conditions linked lo the grants have been mel. Where performar￿0 conditions are atiached lo the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred inwme to be released. Government grants are recognised based on the accrual model and are measured al the fair valLte of the asset received or recelvable. Grants are cias5rfied as relating either to revenue or lo assets. Grants relating to revenue are recognised in income over the period in which the related costs are reCogn￿sed. Grants relating to assets are recognised over the expected useful lrfe of the asset. Where part of a grant relating to an asset is deferred. it is recognised as deferred in¢ome. Grfl Aid relief on eligible donations 15 recognised on an accruals basis al the same point as the original donation. Investment income is recognised at the lime of being received.

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1 ACCOUNTING POLICIES {CONTINUED) Expenditure All expenditure is recognlsed Or￿ there 15 a legal or conslruclive obligation lo that expenditure, il is probable selllement is required and the amount can be measured reliably. All costs are allocated lo the applicab￿ expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed lo particular headings they have been allocated on a basis consislenl with the use of resources, with central staff costs allocated on the basis of time spent. and depreciation charyes allocated on the portion of Ihe asset's use. Other Support costs are allocated based on the spread of staff costs. Raislng funds These are cost9 5r￿Urred in allradrng voluntsry Income. the management of investments and those incurred in IradirrfJ activities that raise funds. Charitable actlvltles Charitable expenditure comprises those costs incurred by the charity in the delivery of Ils activit￿S and services for Its beneficiaries. 11 includes ￿th costs that can be allocated directly to swh activities ttJose costs of an indirect nature necessary to support them. Governance costs These include the costs atttibulable to the charity's compliance with conslitutional and ststulory requirements, including audit. strate9ic management and Iruslees, meetings and reimbursed expenses. Taxalion The charty is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes. Accordingly. the charity is potentially exempl from taxation in respect of income or capital gains received within categories Covered by Chapter 3 Part 11 of Ihe Corporation Tax Act 2010 or Section 256 of the TaxalKyn of Char9eat￿e Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Trade debtors Trade and other debtors are r￿QgNised al the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Cash and cash equivalents Cash cash equivalents comprise cash on hand and call deposits. and other short-term highly INuid inveslm8nls that are readily convertil￿e to a known amount of cash and are subject to an insignificant risk of change in value. Trade credltor8 Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are normally re¢ognised at their settlement amount after allowng for any trade discounts due.

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1 ACCOUNTING POLICIES (CONTINUED) Fund structuro Unrestricted income funds are general funds that are available for use at the Iruslees, discretK)n in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specrflc purposes at the dlscrelion of the trustees. Restricted income funds are those donated for use in a particular area or for Specific purposes. the use of which is reslricled lo that area or purpose. Flnanclal Instruments Cla55ifi¢ation Financial assets and financ¢al liabilities are recognised when the charity becomes a parly lo the contractual provisions of the inslrumenl. Financial liabililles and equity instruments are dassified according to the substance of the contractual arrangemenls enlere(J into. An equity instrument is any conlracl that evidences a residual interest in the asset5 Qf the charity after deducting all of ils liabilities. Recognltlon and measurement All financial assets and liabilities ore inib'alEy measured at transaction price (including transaction costs), except for those financial assets classif￿￿ as al fair value through profil or loss. whlch are Inllially measured al fair value IwhiGh is normally the tratssaction price excluding transaction coslsl, unless the a￿angement conslitules a financiThJ Itansaction. If an arrangement conslilules a financing Iransaclion. the financial asset or financial liability is measured at the present value of the future payments discounted at a market rale of interest for a similar debt inslrumenl. Financial assets and liabilities are only offset in the statement of financial position when, and onty when there exists a gally enfor￿able right lo set off the recognised amounts and the charity intends either to sellle on a nel basis. or to realise the asset and settle the liabilty 5imullaneou$ly. Financial assets are derecognised when ar)d only when 21 the conlraclual rights lo the cash flows from the financial asset expire or are settled, bl the charity transfers lo another party sub51anlially all of the risks and rewards of ownership of the financial asset, or c) the charity. despite having retained some, but not all, significant risks and rewards of ¢)wnership, has transferred control of the asset lo another paty. Financial liabilities are derecognised only when the obligation specified in the contract is discharged. cancened or expires. 10

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 2 INCOME FROM DONATIONS AND LEGACIES Unrestrl¢ted Designated Restrictgd Funds Funds Fund5 2023 2023 2023 Total Funds 2023 Planned giving (direct debit & SOI Loose Collections Donations For Mission Tax Reclalmed - Gffi Ald Legacies Grants 57.264 28,379 20,618 3.392 46,859 3.024 37.351 600 57.864 28,481 30.466 4.073 48,795 3,024 56,451 102 344 1,936 19,100 196.887 20.227 12,040 229.154 During the year grants were received from the followng.. Unrestricted Designated Restrlcted Funds Funds Funds 2023 2023 2023 T¢)tsl Funds 2023 CADW We will remember them Green Energy Solar Farm grant Other Small grants 14,591 14,591 15,000 15,000 3,935 7,925 15.000 15,000 3.935 3,825 4.100 37,351 19,100 56.451 3 INCOME FROM CHARITABLE ACTIVITIES Unrestrlcted Funds 2023 Deslgnated Restricted Funds Funds 2023 2023 Total Funds 2023 19,433 6,810 26,243 19.433 6,810 26,243 11

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 4 OTHER TRADING ACTIVITIES Unrestrlcted Designated Rastricted Funds Funds Funds 2023 2023 2023 Total Funds 2023 FurM4raising Hall Rental Ir￿me Sundry 13,559 856 122 3,138 16,819 856 14.415 122 3,138 17,675 S INVESTMENT INCOME Unrestricted Funds 2023 Designat￿ R6strlcted Funds Funds 2023 2023 Total Funds 2023 Investment income 23.203 89 323 23,615 23,203 89 323 23.615 6 OTHER INCOME Unrestricted Dgsignatèd Inrostrlcted Funds Funds Funds 2023 2023 2023 Total Funds 2023 Rebates (esp. Parish Share) other Ir￿ome 8,189 12,713 8.189 12,958 21x1 45 20,902 200 45 21,147 12

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 7 ANALYSIS OF EXPENDITURE BY ACTIVITIES Activities Wages & Undgrtakon Salarlgs Directly 2023 2023 Total Funds 2023 Charitable activities 325.518 325,518 325,518 325.518 Analysis of dlr•ct costs Total Funds 2023 Parish share Parochial expenses of clerics Maintenance of services General parish expenses Mainlenance of churches Maintenance of other propety Mission and grant parish Mission and gmnl homelworld 100.942 17,926 8.314 9,080 101.586 78,604 3,044 6,022 325,518 8 INDEPENDENT EXAMINER'S REMUNERATION 2023 Fees payable lo the Trust's independent examiner in respect of.. Independent Examination 840 13

Docusign EnvelopÈ ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 9 TRUSTEES. REMUNERATION AND EXPENSES Ouring the year, no Iruslees received any remuner8tion of other benefits During the year ended 31 December 2023, expenses lotalling £Nil were reimbursed or paid directly lo Trustee$. 10 TAXATION The charity is exempt fram corporation tsx on ils charitable activities. 11 INVESTMENTS 2023 Market Value at 31 Decgmbor 2022 AddilionsllDisposals) Unrealised Gainsl{losses> 514,129 114.444 Market Valu¢ at 31 December 2023 628,573 12 DEBTORS 2023 DUE WITH ONE YEAR OiheT debtors 9,082 9,082 13 cRED￿oRs.. AMOUNTS FALLING DUE WITh ONE YEAR 2023 Creditors Accruals and deferred income 3,487 4,327 14

Docusign Envelope ID". 8322579F-1DB54279-B63E-7E043D537B51 NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14 MOVEMENT IN FUNDS MOVEMENT IN FUNDS- CURRENT YEAR Balance at 1 January Incoming Outgolng 2023 resources resources Balan￿ at Galnsl 1 Decèmber (Los8os) 2023 Transfèrs Inlout RestrfGt¢d funds Sl Nicholas Grosmonl Sl Teilo. Llanli150 Crossen8y Sl Cadoc, Uangatlock Juxla Usk Si David, Llanlhony Sl Michael, Llanfihangel Crucorney Si Bridget, Skenfrith Sl Mable, Llanvapley 2,851 4.214 600 6.806 273,205 27.914 13241 350 45 600 11,0281 2,173 4,519 70 7,104 299,986 33,271 11,1301 14.216 37 114,1911 26.756 5,320 324 315.266 15.546 16.349 584 32,076 347,123 Unre8trScted funds General funds 643.877 274,840 {275,753) 13241 83,792 726,432 Designated funds Sl Nichola5 Gro$mont Sl Teilo. Llantilio Crosseney Betiws Chapel, Llanlilio Pertholey 16,871 9.393 81,092 4.417 2,462 20.569 1892) 12,353) 132,273) 20,396 9,242 69,388 {260) 751.233 302,288 311,271 S84 83.792 825,458 Totsl funds 1,066.499 317,834 327,620 Restr￿ted funds have been included as advised by the indiviudal church treasurers. North Monmoulhshire Ministry Area finance committee agree that they have to trust local knO%￿edge. and as church committees and treasurers are happy with classifiactions NMA fvas lo trust this. 115.868 1,172,581 15 ANALYSIS OF NET ASSETS BFfwEEN FUNDS UnTeStricted Funds 2023 Restricted funds 2023 Fixed as5el investments Current assets Creditors due with one year 324,086 505.699 {4,3271 304.487 42,636 TOTAL 825,458 347.123 16 RELATED PARfi TRANSACTIONS There were no related paty transactions during the year. 17 TRANSFERS BETWEEN FUNDS The liansfers between funds represent amounts belng allocated from general to unrestricted funds lo dear any deficit balar arising on these. 15

Docusign Envelope ID: 8322579F-1DB5-4279-B63E-7E043D537B51

North Monmouthshire Ministry Area 10 The Pines Mardy Abergavenny NP7 6HG

W J James & Co Bishop House 10 Wheat Street Brecon Powys LD3 7DG

30 July 2024

Dear Sirs

Independent examination letter of representation

The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charity’s financial statements for the year ended 31 December 2023. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.

General

  1. We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion.

  2. We confirm that the charity was entitled to exemption under section 144 of the Charities Act 2011 the requirement to have its financial statements for the financial year ended 31 December 20223audited.

  3. We have fulfilled our responsibilities as trustees as set out in the terms of your engagement letter dated 2 November 2023, under the Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.

  4. All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.

  5. All the accounting records have been made available to you for the purpose of your independent examination. We have provided you with unrestricted access to all appropriate persons within the charity, and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission.

  6. 6.. The financial statements are free of material misstatements, including omissions.

  7. The effects of uncorrected misstatements (as set out in the appendix to this letter) are immaterial both individually and in total.

Assets and liabilities

  1. The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.

  2. All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.

  3. We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements.

Accounting estimates

  1. The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework.

Charity number 1203196

Docusign Envelope ID: 8322579F-1DB5-4279-B63E-7E043D537B51

Legal claims

  1. We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements.

Laws and regulations

  1. We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.

Related parties

  1. Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements.

Subsequent events

  1. All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.

Going concern

  1. We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements.

Grants and donations

  1. All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.

Other

  1. Debtors and creditors are correctly reflected in the financial statements at 31 December 2023 (as per our earlier confirmation emails).

  2. No Trustees received reimbursement for any expenses, and no Trustees received any remuneration in relation to the year ending 31 December 2023.

  3. Trustees / members are all correctly shown in the Administrative Details (Page 1) of the Financial Statements for the year ended 31 December 2023.

  4. Restricted funds are correctly shown in the financial statements on 31 December 2023 as follows: -

  5. St Nicholas, Grosmont £2,173

  6. • St Teilo, Llantilio Crosseney £4,519 • St Cadoc, Llangattock Juxta Usk £70 • St David, Llanthony £7,104 • St Michael, Llanfihangel Crucorney £299,986 • St Bridget, Skenfrith £33,271

Yours faithfully

.............................................................................................................................

Signed on behalf of the board of Trustees of North Monmouthshire Ministry Area

7/30/2024

.............................................................................................................................

Date

Charity number 1203196