REGISTERED CHARITY NUMBER: 1203196 NORTH MONMOUTHSHIRE MINISTRY AREA UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
NORTH MONMOUTHSHIRE MINISTRY AREA CONTENTS YEAR ENDED 31 DECEMBER 2024 Page Reference and administrative details of the charlty, Its trustees and advlsors Truste•s Report ststoment of Trustèes Responsibilitles Independent examinèrs, report to the trustees Statement of flnancial activities Balanco sheet Notes to the financlal statemènts &17
NORTH MONMOUTHSHIRE MINISTRY AREA REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS YEAR ENDED 31 DECEMBER 2024 Chalr The Reverend Julian Francis Gray Trustees Rev David Charles Roberts Kay Ann Howells Emma Yvonne Robinson John Lewis Pavett Cordelia Passmore Jessica Mary Grahan Philippa Frances Rumsey Colin Raymond J8rr8tt Rev Gaynor Elizabeth {resigned 3 February 2024) Karen Jane Farr Elaine Marion Nomian Verity Margaret Rumsey Thomas Ninian Lowes Jan8t Barr Watson Rev Caroline Heidi Ann Prince Eric Graham Evans Margaret Kathleen Parry Charlty registration number 1203196 Registered Offlce 10 The Pines Mardy Abergavenny NP7 6HQ Independent Examiner J M Roderick, Bsc ACA WJ James & Co Limited Bishop Hous8 10 Wheat Streel Brecon Powys LD9 7DG
NORTH MONMOUTHSHIRE MINISTRY AREA TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The Charity Trust68s {th8 Trustees) of North Monmouthshire Ministy Area (the Trust) present their annual report together with thè financial statements of the Trust for the year ended 31 December 2024 These financial statements have been prepared in accordan with Statement of Recommended Practic8: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ir81and (FRS 102) and Charities Act 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 Monmouthshlre. ACTIVITIES UNDERTAKEN TO FURTHER THE TRUST'S PURPOSES FOR PUBLIC BENEFIT The Trustees have r8f8rred to the guidance contsined in the Charity Commission's general guidan on public benefit when reviewing the Trust's aims and objects. Ml these aims are undertaken to fvjrther our objective for the publio benefit. REVIEW OF ACTIVITIES During the past year, the North Monmouthshire Ministry Area's seventeen churches continued their efforts to build 8 ¢ohesive community with a strong sense of identity. Athough this is an ongoing task, we continue to make sure and steady progress. Joint worship, on frfth Sundays and festivals have brought many people together providing opportunities for scattered communities to come together in prayer and fello4vship. Some sing wilh Ihe Ministry Area Choir on these occasions and many stay for refreshments afterwards. Advent and Lent Quiet Days have been well attended and we now look forward to pilgrimages lo the cathedral churches at Newport and St. David's. FINANCIAL As stated in these accounts we are pleased to report that all our churches are in a reasonable financial positi(Jn at the year end. POLICIES We hav8 a series of FinanGial and Governan policies in pla, as dev8loped during our transition phase. We hav8 adopt8d the Diocesan Safeguarding policy and each church displays a poster indicating the fact.
NORTH MONMOUTHSHIRE MINISTRY AREA TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 SAFEGUARDING Safeguarding training sessions arg continuing for all trustees, wardens, secretaries, treasurers. Our Minlslry Ar8a Safeguarding Officer attends regular Di0san Safeguarding training and networking to ensure we adhere to best PractiS. All OffirS are required to undergo a level of DBS check in relation to their rol8 {all details hekl in secure My Church People online dalabase}. Discussions are b8ing had in extending these checks to all Church Committee members. ACHIEVEMENTS With the appointment of The Revd. Mary Moore in October 2024, and The R8vd. Canon David Williams in January 2025, the North Monmouthshire Ministry Area now h8s a full complement of Lead Clèrgy {one Team Rector and four Team Vicars) Together they provide spiritual care and pastoral leadership throughout the Ministry Area's five Pastoral Districts. The Lead clergy are assisted by a part-time paid Ministry Assistant Support Officer and several volunteers lay officers. in addition to a sfflall number of retired clergy holding a Bishop's Pemiission to Officiate Ilcence. A full-time Schools Engagement Pioneer was appointed in February 2025 funded by the Church in Wales for th& nèxt five years. Improvements in communication throughout the Ministry Area be8n made possible by the establishment of an attractive website, Facebook page and a quarterly Newsletter. Our seventeen churches are able to use the Ministry Area's significant on-line pr8s8nce to share nows and advertise services. social and fundraising activities. PLANS FOR THE FUTURE To eontinue with development of NMMA with a view to the sUe$S of all seventeen churches. GOING CONCERN Taking account of the Charity's assets, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For thls reason. they ntInUe to adopt the going concem basis in preparing the financial statements. Further details gardIng the adoption of the going concem b8sis can be found in th8 Accounting Policies. RESERVES POLICY The MA will retain suth funds as are neSSary for its ongoing viable operation. No borrowing of any kind will be entered into by the MA without the prior unanimous agr88m8nt of the Trustees.
NORTH MONMOUTHSHIRE MINISTRY AREA TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 INVESTMENT POLICY AND PERFORMANCE Each of our Ghurches retains its own bank account & Ireasurer in the event that the MA ceases operation in the future. Investment funds are variously held al banks and other fundslCOIF and independent of thé MA and we therefore have no commenl on perf0rrnan other than what is ststed in these accounts. STRUCTURE, GOVERNANCE AND MANAGEMENT CONSTITUTION These ar8 all as set out in documents previously produced by the MATh (Ministy Area Transition Team). METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES Trustee appointments are made by election at our Annual Vestry MeetirvJs or rf necessary, periodic MAC me8tings. INDUCTION AND TRAINING OF TRUSTEES Trustee training Gomes from the Diocese and any training is caled out on an ad hoc basis. Training is on-going and trustees will attend coursés as and when is needed.
NORTH MONMOUTHSHIRE MINISTRY AREA TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom AC(Unting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requitss the twstees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of thg charity and ofthe incoming resources and application of resources ofthe charity for that period. In preparing these financial statements, the trustees are requlred to: s818ct suitsble accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019 {FRS 102): make judgements and estimates that ar8 reasonable and prudent., state whether applicable accounting slandards have been followed, subject to any materi81 d8partures disclosed and explained in the financial statements; prepare the financial statements on th8 going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting r8cords that disdose wrth reasonable 8ccur8cy at any time thefinancial position of the charity and enable them to ensure that the financial statements comply with the Charf(ies Act 2011, the Charities (Accounts and Reports) Regulations 2(108 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taklng reasonable steps for the prevenlion and detection of fraud and other Irr8gularities. Approved by order of the Trustee Board on 22...f:. - by 2025 and signed on their behalf Chair of Trustees
NORTH MONMOUTHSHIRE MINISTRY AREA INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31 DECEMBER 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NORTH MONMOUTHSHIRE MINISTRY AREA ('the Charity,) I report to the charity trustee6 on my examinatton of the accounts of the charity for the period endéd 31 December 2024 which are set OLrt on pages 6 to 17. Responsibilitles and basls of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the rèquirements of the Charities Act 2011 {'the Act,). I report in respect of my examination of the charity's accounts ¢arried out under section 145 of the Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515)(b) of the Act. Independent examiner's statoment sin the company's gross income exce8ded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirrn that l am qualified to undertake the exarnination because l am a member of Institute of chartered accountants, which is one of the listed bodies. I have completed my examination. I confimi that no material w.atters have come to my attention in connection with the examination giving me caus6 to beliève that in any material respeci- accounting records were not kept in respect of the charity as required by section 130 of the Act. or 2. the accounts do not accord with those records: or 3. the accounts do not comply with th8 applicable requiréments concerning the fomi and content of accounts set out in the Charities (A¢¢ounts and Report) Regulations 2008 other than any requirement that the accounts give a Irue and fair view, which is not 8 matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examinalion lo which attenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. J M Roderick Bsc ACA WJ James & Co. Chartered Accountant Bishop House 10 Wheat Street Br8¢0n Powys LD3 7DG 2025
'NORTH MONMOUTHSHIRE MINISTRY AREA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unr•stri¢tod Dosignatgd Funds Funds 2024 2024 Re8trlctod Funds 2024 Total Funds 2024 Total Funds 2023 INCOME FROM.. Donations and legacies CharItae activtties Other trading activities Investments Other income 190,544 20.544 26.966 21,577 22,300 10.686 5,175 10.759 1.453 202,683 25.719 44,407 21,941 22.3C(I 229,153 26,243 17.675 23,615 21,147 6,682 TOTAL INCOME 281.931 26,620 8,499 317,050 317,833 EXPENDITURE ON: Raising funds Charitsble activities 5,374 255.387 138 34,735 5,512 293,902 2,103 325,518 3,780 TOTAL EXPENDITURE 260,761 34,873 3,780 299,414 327,621 Net Galnslllossesl on investments 10,644 4,342 43.498 115,869 NET INCOME1(EXPENDURE> 31,814 3,9111 48.217 76,120 106,081 Transfers betsveen funds 17 (4691 1439) NEf MOVEMENT IN FUNDS 31,345 4,350 49,125 76,120 106,081 RECONCILIATION OF FUNDS Total funds brought forward 726.171 99,287 347,123 1,172,581 1.066,500 TOTAL FUNDS CARRIED FORWARD 757,516 94,937 396,248 1,248,701 1,172.581 The Statement of Financial Activities includ95 all gains and105ses re¢ognised Sn the year. All of the actrvilies of the charty are classed as contlnuing The notes on Pag 8 to 15 fo part of iheso flnanclal 8tstomonts
NORTH MONMOUTHSHIRE MINISTRY AREA BALANCE SHEEr AS AT 31 DECEMBER 2024 2024 2023 Note FIXED ASSErs Investments 11 683.233 628,573 683.233 628,573 CURRENT ASSETS Debtors Cash at bank and In hand 12 8,287 583,703 571,990 9,082 539,253 548,335 Credltorg . Amounts falling due within one year 13 6,5221 4,327) CURRENT ASSETS 565,468 544.008 TOTAL ASSETS LESS CURRENT LIABILITIES 1.248,701 1,172,581 TOTAL NET ASSETS 1,248.701 1.172.581 CHARITY FUNDS Unrestrfcted fund8 General funds Restrlcted fund8 14 14 852,453 396,248 825,458 347,123 1,248,701 1.172,581 These financial statements were approved by the trustees and aulhorised for issue by the trustees on are signed on rts behatf by.. 2025 and Trustee Trustee The notes on pag8$ 8 to 15 form part of these flnanclal 8tatemont8
T4ORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1 ACCOUNTING POLICIES Statement of compllance The financial statements have been prepared In accordance with the second editKin of the Charities Stsiement of Recomrnended Practice issued in Octob8r 2019. the Financial Reporting Slandard applicable in the Unlled KINddom and Republic of Ireland IFRS 102) and Ihe Charrties Act 2011. Basls of preparation The Ministry Area of North Monmoulhshire meets the definition of a public b8n8fil entlty under FRS 102. Th8 accounts {rinancial stalemenls) have been prepared under the historical cost convention with items recognised al cost or Iran5act•)n value unless olheM$e stated in the relevant notelsl lo th8se accounts. Exemptlon from preparfng a ¢ash flow statem•nt The charity opted to early adopt Bulletin 1 publlshed on 2 February 2016 and have therefore not included a cash flow statement in these finaneial statements. Golng concem The finanGial statement5 have been prepar&J on a golng ¢onfffl basis. The rustees assess whether the use of golng concem is appropriate i.e. whether there are any malerlal uncartainties related to events or Condr(nS that may cast significant doubt on the ablllty of the charty to conllnue as a going concem. The trustees make th1$ assessment in reskwt of 8 period of one year from the dale of approval of the financial statements. Incoming rosource5 Voluntary income including donations, gifts, legacies and grants that provide core fvjnding or are of a general natuTr is re¢ogni$ed when the charity has enlitlemenl to the inGome, it is probable that the income wlll b8 r8cefv8d and the amount c?n be rneasured th Sufficient reliability. Donaltons and legacies are recognised on a receivable bagls when receipt is probable and the amount can be rdiably measured. Donated services or facilities. which comprise of donated services. are in¢luéed in inrome al a valuation which i% an 65timate of the financial cost borne by the donor ere such a ¢ost is quaniliiable and measurable. No Income is recoonised where there is no financial cost borne by a third Dath. Grants are recogni%ed when thg charity has an enliuemenl lo Ihe funds and any conditions linked to the grants have been met. Where performance condltlons are attathd to the grant and are yel to be mel. the income is recognised as a liability and induded on the balance sheet as deferred income to be retgasod. Government grants are recognised based on the accrual model and are measured al the fair value of the asset received or reCeable. Grants are classrfied ay relating either to revenue or to assets. Grants relating lo revenue are recognised In income over (he period in which the related costs are recognised. Gran15 relating to assets are recognis8d over the expected useful lrfe of the 8S8el. Where part of a grant relating to an asset Is deferred, il is recognised as deferred income. Grft Aid relief on eliglble donatlons is Cogned on an accruals basis at the Same p)inl as th8 original donatK)n. Investment income is recognised al the time of treing CeiVed.
NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1 ACCOUNTING POLICIES (CONTINUED) Expgnditure All expenditure is wogni5ed once there is a legal or constructive oblkJation to that experKllture, It is probable settlement Is required and the 8mounl can be measured reliably. All ¢osls are allocated lo the applicable expenditure heading that aggregate similar costs lo Ihal category. Where costs cannot be dire¢tly attributed to particular headings thgy have boen allocated on a basis conslslenl wlth the use of resoureks. with rEntral staff costs allocated on the basis of time spent, and eprecialion charges allocated on the portion of the asset's use. Other support costs are allated based on the spread of staff costs. Raising funds These are costs in(yJrred in attracllng voluntary income. the management of investments and those incurred in trading activities that raise funds. Charitabl• activities Charitable expenditure Gomprises those costs incurred ty the charlty In the delivery of its activities and services for ils beneficiaries. It includes both coyts that be allocated directly to such activities and those costs of an indirect nature necessary lo support them. Govgrnance c08ts These indude the costs attrlbulable to the charltls compliance th conslitulion81 and ststutory requirements, irlUding audit. straleglc management and Iruslees. meetings 8nd relmbursed expenses. Taxation The charity Is consldered to pass the lesls set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corForation purposes. Aecordingly, the charity is potentially exempl from taxation in respect of income or ¢aprial gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax A¢t 2010 or Section 256 of the TaxatK)n of Chargeable Galns Act 1992, to Ihfj exlenl that su¢h Income or gains are applied exdusNely lo charitable purposes. Trade debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ash and ¢a8h •qulvalents Cash and cash equivalents comprise cash on hand and call dep)sits, and other short-lerm highly liquid inveslmenls that are readily convertible lo a known amount of cash and ar8 subj8Ct lo an insignrficanl risk of change in value. Trade creditors Creditor3 and provisions are recognised where the charity hay a present obltgalion resulting from a past event that will probably result in the transfer of funds to a third party and the amount due lo settle the obligation Can be measured Of eslimaled reliabty. Creditors and provisions are normally recognised at their selllement amount after allowing for any trade discounts due.
NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1 ACCOUNTING POLICIES (GONTINUEDJ Fund Strudure Unrestricted Income funds are general fun(Js that are available for use at the Iruslees, discretion in furtherance of the Objecte8 of the charity. Designated fund5 are unrestricted fvnds set aside for specrfi¢ PUrK>se$ at the discretion of the trusl8es. Reslricted income funds are those donated for use In a particular area or for specAfic purposes, the use of which 1$ le51rted to that area or purpose. Flnanclal inslruments Classlllcation FiNanal assets and financial liabilities are recognised when the charity bec#)mes a paty to the Djntractual provisions of the instrument. Financial liabilities and equity instrumen15 are classrf1ed according to the substance of Ihe contractual arrangements entered Into. An equty instrument is any contract that evidences a resldual Snterest In the assets of the chartty after deductiry all of its liabilitw. R•cognitlon and me8surnm•nt All financial assets and liabilities are inklally measured at transaction price (including transaction costs), except for those financial assets classified as al fair value through profit or loss, which are inilkqlly measured al fair value {ICh i% nomally the transaclion price excluding transaction cos151, unless the arrangement constitutes a financing tranSl0n. IF an arrangement constilules a finanang tranSaCtn, the financial asset or flnanclal liabilty is measured al the tfesenl value of the future payments discounted at a mark81 rate of Interest for a sSmllar debt instrument. Finanrial assets and Ilab51111es are only offset in Ihe statement of financial position when, and only when there exists a legally enforceable right lo set off the recognised amounts and the ch8rFty intends either lo sellle on 8 net basi5, or lo reali5e thg asset and settle the liability simullaneously. Flnancial assets are (lerecognised when and only when al thg contractual rights to th8 cash flows from the financial asset expire or a settled. b) the charity Iransfers.to"anolher paty substantially all of the r6sks and rewards of ownershlp of the financral a55et, or c} the charity. desplle having retained some, bul not all, significant risks and leardS of ownership, has Irartsferred control of the asset lo another party. Financial liabilities are derecognlsed onty when the obligation spectfied in the contract is discharged. cancelled or expires. 10
'NORTh MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2 INCOME FROM DONATIONS AND LEGACIES Unrestrictsd Dgsignated Funds Funds 2024 2024 Restrlctod Funds 2024 Total FndS 2024 Total Funds 2023 anned giving (direct debit & SOI Loose Collections Donations For Mission Tax Reclaimed- Grft Aid Legacies Grants 71,431 27,696 28,111 2.436 31,959 10,0 18.911 600 72,031 27,696 38,¢X6 4.020 31,959 10.000 18.911 57.863 28.481 30.466 4,073 48,795 3,024 56.451 9,748 938 207 646 190.544 10.686 1,453 202,683 229,153 During the year grants were receNed from the followng: Unrostrict•d tlesignated Funds Fund$ 2024 2024 Restrlcted Funds 2024 Total Fund$ 2024 Total Funds 2023 CADW We will remember th8m Green Energy Solar Farm grdnl Other Small grants Whilecastle CC MCC Grant avraTd Gobion Fawr LPWGS Grant Diocese Jubilee Donation Grant DBF Diocese Board of Flnance Welsh Church FurKI Diocese Grant MA Diocese Support Grant 14,591 15.000 15.000 3.935 7,925 1.430 1,430 2,000 5,073 50 445 3,825 500 1,308 40 1.000 602 2,638 2,000 5,073 50 445 3,825 500 1,308 1,000 602 2,638 18,911 18,911 56,451 3 INCOME FROM CHARITABLE ACTivrriES Unr•strl¢tod D•signated Fund6 Funds 2024 2024 Restrlctod Funds 2024 Total Funds 2024 Total Funds 2023 Fees 5.175 25,719 26,243 5.175 25,719 26,243 11
NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 4 OTHER TRADING ACTIVITIES Unrestricted Dignated Funds Funds 2024 2024 Restrl¢t•d Funds 2024 Total Funds 2024 Total Funds 2023 Fundraising Hall Rental Income Sundry 23,212 1,197 2,557 2,082 25,294 1,197 17,916 16,819 856 8,677 6,682 26,966 10.759 6,682 44,407 17,675 5 INVESTMENT INCOME UnrgstrfGted D051gnated Fund$ Funds 2024 2024 Restrfcted Funds 2024 Tthal Funds 2024 Total Funds 2023 Investment income 21,577 21,941 23,615 21,577 364 21.941 23.615 6 OTHER INCOME Unrostricted Designated Funds Funds 2024 2024 Rostrictgd Funds 2024 Total Funds 2024 Total Funds 2023 Rebates (esp- Parish Share} Sale of invesbnents Grosmonl Group bank balance 7.654 2,067 12,579 7,654 2.067 12,579 8.189 12,958 22,300 22,300 21,147 12
'NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 7 ANALYSIS OF EXPENDITURE BY ACTIVITIES Activities Wages & Undertaken Salari•¥ Directly 2024 2024 Total Funds 2024 Total Funds 2023 Charitable aotivilies 293,902 293,2 325,518 293.902 293.902 325518 Analysls of dlro¢t ¢osts Total Funds 2024 Total Funds 2023 Parrsh share Parothial expenses of clerics Maintenance of servi General parish expenses Maintenance of churches Maintenance of other prop¥ty Mission and grant parish Mission and granl homelwodd Other expenditure 90,173 17,873 6,456 8.830 107,968 41,541 2.695 6.466 100,942 17,926 8,314 9,080 101,586 78,604 3.044 6.022 293,902 325.518 8 INDEPENDENT EXAMINER'S REMUNERATION 2024 2023 Fe85 payable lo the Trust's independent examiner in respect of- Independent Examination 13
NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 9 TRUSTEES. REMUNERATION AND EXPENSES Durlng the year, no trustees receNed any remuneration of other benefits During the year ended 31 December 2024. expenses tolalling £Nil were relmbursed pakl dlrecily lo Trustees. 10 TAXATION The ¢harty is exempl from corpcK*ion lax on its charSlable actlle8. 11 INVESTMENTS 2024 2023 Market Value at 31 December 2023 AddilionsllDisposa151 Unrealised G8insl{lossesl Interest received 628,573 14,056) 58,484 232 514,129 114,444 Market Value at 31 December 2024 683,233 628,573 12 DEBTORS 2024 2023 DUE wrrH ONE YEAR Other debtors 8,287 9,082 8,287 9,082 13 CREDrroRS: AMOUNTS FALLING DUE wrrH ONE YEAR 2024 2023 Creditors Accruals and defer income 5,682 3,487 840 14
NORTH MONMoiJfHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14 MOVEMENT IN FUNDS MOVEMENT IN FUNDS- CURRENT YEAR Balanca at 1 January Incomlng Outgolng 2024 rgsources resources Balance at Gainsl 31 Dwmb•r {Los606) 2024 Tran$f•rs Inloul Restricted funds St Nlcholas Grosmont St Nicholas Bell Tower Fund St Nicholas Resoralion Fund St Nicholas Youth Fund 973 150 1,123 1348) 348 1.2CMJ 1,200 St Tello. Llantilio Crosseney Llantillo Bell Maintenance Fund Llantlllo Churchydrd Equipmenl Fun 3.525 3,615 St Cadoc, Llangattock Juxta Usk St Cadoc's Church Fabr Fund 70 13001 370 St David, Llanthony St David Restricted Fund 7,104 7,468 St Mlchael. Ll8nllh8n9•1 Cru¢omey Sl Michael Reslricled Fund Oldcastle Churchyard Fund 299,167 819 8.210 307,377 819 St 8rfd9et, Skgnfrith St Bridget's Bell Ringing Fund Sl Bridget's Church Link Fund Sl Bridgel's Churchyard Fund Sl Bridgel's Church Fabric Fund Sl Bridget's Inl8rngt Fund Sl Bridgel's Newton Jackson Fund St Bridgel's Repairs & Mainlen8nce St Bridgel's Mains Water Fund 1,052 229 355 2.516 800 5,320 19,999 3.000 1.D52 229 355 2,516 5.320 19.999 3,000 Bettws Chapel. Llantllio Pertholey Llanlilio Pertholey Churchyard Fund 703 {1.2631 560 Grosmont Gmup Grosmont Group Magaine Fur Youth Mlnlslry 2,592 2.592 2,131 (1,869) St David, Ll8ndewi Rhydderoh Ada May Leek 35,288 35,288 347,123 8,499 13,7801 908 43,498 396,248 Unrestricted funds General funds 726,171 281,931 {260,761) 14691 10,644 757,516 Balance ¢arried foThvard ,54 15
NORTH MONMOUTHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 14 MOVEMENT IN FUNDS- CURRENT YEAR {Contlnued) Balanco brought forward 1,073.294 290.430 264,541 439 54,142 1.153,764 D08ignated funds St Nicholas Grosmont Sl Nicholas Organ Fund Sl Nicholas Bell Tower Fund St Nicholas Churthyard Fund Sl Nicholas Restoration Fund Sl Nicholas Church Magazine FuThJ 9,486 9,486 {1,028} 7,934 2,882 {1,0281 {5,3501 {8,1781 13151 12,675 7,060 661 609 4,000 St Tello, Llantlllo Crnsseney LC Vicarage Fund Llanlilio Renovauon Fund Llanlilio Selby Sounds Hand Bells 4.587 (4.179) 408 7,040 2,462 1623) 1,839 St 8rldget, Skenfrith Sl Bridgavs Bell Rlnglng 70 70 Bellws Chapel, Llandllo Pertholey Bettws Fund Llanlilio Pertholey Bells Fijnd Llanlllio Pertholey Chancel Fund Llanlilio Perthdey Charity Fund Llanlilio Pertholey Churchyard Fund Llantilio Pertholey Restoration Fund Bettws Chapel Cash In Hand 1.631 1,633 22,061 1531 24.364 18,978 775 2.025 171 (1.960} 1601 1.696 1,744 26,403 268 16,603 18,978 4,342 938 3,881 {9531 (11,6421 17751 St Mary. Llanfalr Cllgoed Churchyard Fund 853 15851 99,287 26.620 34,873 439 4.342 94,937 Total funds 1.172.581 317.050 299,414 58.48•, 1,248.701 Restricted fun(Js have been included as advised by the indiviudal church treasurers. North Monmoulhshire Ministry Area finance committee agree that they have to trust local knowledge, and as church wmmittees and Irea5urers are happy wth classrfiaclions NMA has lo tru51 thi5. 16
NORTH MONMoufHSHIRE MINISTRY AREA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14 MOVEMEMf IN FUNDS- PRIOR YEAR Balance at 1 January Incomlng Outgolng 2023 resources resources Balance at Galnsl 31 De¢¢mber {Losses) 2023 Transfers Inlout Restrlcted funds St Nicholas Grosmont St Teilo, Llantilio Crosseney st Cadoc, Llangattock Juxla Usk St David, Uanthony St Michad. Llanfihangel Crucorney St Bridget. Skenfrilh St Mable, Llanvapley 2,851 4,214 600 6,806 273,205 27,914 1324) 350 45 {1,0281 2.173 4,519 70 7.104 299,986 33,271 260 {1.1301 14,216 37 114,1911 26,756 5.320 324 315,266 15,546 16,3491 32.076 347.123 Unrestrlctad funds General funds 643.878 274.839 1275,7551 {584) 83,793 726,171 Doslgnated funds St Nkholas Grosmont Si Teilo. Llantllio Cro8seney Beltws Chapd, Llanlilio Pertholey 16,871 9,394 81,092 4.417 2.462 20,569 {8921 12,3531 (32,2731 20,396 9,503 69,388 751.235 302,287 1311,273 5841 83,793 825,458 Total funds 1.066,501 317.833 327,6221 115,869 1,172,581 Restricted lunds have been included as advised by the inoiviudal church treasurers. North Monmouthshlre Ministry Area finance committee agree that they have lo trust local kedge, and as church committees and treasurers are happy with classrfiactions NMA has lo Irust thls. 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS Total Unrestrlcted Funds Funds 2024 2024 Restrlcted Funds 2024 Fixed a55el investments Curr8,nl asset$ Creditors due wlh one year 683.233 571,990 16,5221 328,704 530,271 16,522} 354,529 41,719 TOTAL 1,248.701 852,453 396,248 16 RELATED PARTY TRANSACTIONS There were no related party transactions during the year. 17 TRANSFERS BEfwEEN FUNDS The transfers between ftjnds present amounts being allocated from general to unrestricted funds lo clear any deficit balances arising on these. 17
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