## **Llynfi and Upper Afan Valleys Ministry Area** ## **Charity No. 1203565** **Trustees' Report and Unaudited Accounts** **31 December 2023** **Llynfi and Upper Afan Valleys Ministry Area Contents** ||Pages| |---|---| |Trustees' Annual Report|2 to 6| |Independent Examiner's Report|7| |Statement of Financial Activities|8| |Balance Sheet|9| |Notes to the Accounts|10 to 17| |Detailed Statement of Financial Activities|18 to 19| Page 1 **Llynfi and Upper Afan Valleys Ministry Area Trustees Annual Report** The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2023. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Charity No. 1203565** ## **Principal Office** The Paddock Derllwyn Road Tondu Bridgend CF32 9HD ## **Trustees** The following trustees served during the year: M.J. Davies P. Duffield M. Evans (Resigned 18 July 2024) R.A. Jones S. Jones A. Morgan A. Mullins J. Proctor B.J. Reaney F.E. Thomas S. Thomas M. Williams ## **Accountants** Robert Cole & Co Office 2 Llynfi Ent. Centre Heol Ty Gwyn Ind. Estate Maesteg CF34 0BQ ## **Bankers** HSBC 3 Windsor Road Neath SA11 1LN ## **OBJECTIVES AND ACTIVITIES** The purpose of the charity as set out in its governing document: The objectives and the aims of the charity are the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical in the Ministry Area. Page 2 **Llynfi and Upper Afan Valleys Ministry Area Trustees Annual Report** It is the responsibility of the Ministry Area Council (MAC) and the Ministry Area Leader to work together and co-operate in all matters of concern and importance to the Ministry Area for the promotion of the objectives and aims. As required by the Charities Act 2011, the MAC has given due regard to guidance published by the Charity Commission in respect of the operation of the public benefit requirement. The activities undertaken to fulfil the MAC’s purpose for the public benefit are described and detailed hereunder: Ministry Area: The main activities of the Ministry Area during the year have been to promote the mission of the Anglican Communion and spread the Gospel to the people of Caerau, Glyncorrwg, Maesteg and Troedrhiwgarth. The Ministry Area also provides pastoral care, including visiting the sick and local schools, and carries out baptisms, weddings and funerals. Money was raised for many local, national and international charities, including Christian Aid, and refugee projects. Food and household items were collected weekly to support food banks, homeless and disadvantaged people. At the Annual Vestry Meeting of the Ministry Area and the individual churches, a booklet is prepared with reports from all the various organisations giving an outline of their activities throughout the year. St John’s: The Flower Festival was a huge success, with visitors from across the Ministry Area, wider afield and the primary schools from the Afan Valley. Throughout the year Glyncorrwg Primary School visited the church for numerous assemblies, an Easter egg hunt, summer and Christmas concerts, with teas and raffles afterwards helping to boost finances. Working with the Eco-group (across the MAC) a recycling centre was installed and we worked towards the Bronze Eco Church Award. The Glyncorrwg parishioners have supported Messy Church Mornings, and this is establishing itself as a regular event in our calendar. St Cynfelyn’s: It took quite some time to access the money in our Post Office account, but this did little to help our dwindling finances and, from May onwards, we were unable to pay our portion of the Fairer Share therefore incurring a debt with the Diocese by the end of the year. The Employability Project, aimed at getting parents back into the workplace and organized jointly by Bridgend Council and the Department of Work and Pensions, used the church hall weekly from January to the end of March. The warm hub, set up to help with the cost-of-living crisis, continued in the church hall on weekly from January to the end of March. The Tai Chi class continued to meet in the church hall weekly throughout the year. A wonderful Christmas Concert, hosted by well-known soprano Beverley Humphreys, was held in church in December. With performances by choirs Noteworthy, Affinity and Crescendo, it culminated with all three joining forces in a superb rendition of the Hallelujah Chorus. With our usual helpers experiencing health issues, only two fund-raising events were held during the year – the Summer Fete and a Christmas Table Sale but we continued to receive donations for the books and bric-a-brac set out on tables at the back of the hall throughout the year. With reduced support for the 100 Club, we would have to decide early in the New Year whether to continue with this. St Mary’s: Despite the efforts of a small group of parishioners and due very limited reserves and the money needed to be spent on the maintenance of the building, the MAC made the decision to close the church at the end of May. The church was full for the final service with an opportunity to reminisce on church activities over the years over light refreshments after the service. Most of the churches contents have been removed with many items being redistributed throughout the diocese. Page 3 ## **Llynfi and Upper Afan Valleys Ministry Area Trustees Annual Report** St Cynwyd’s: St. Cynwyd’s was once again the venue for many joyous occasions including weddings and baptisms during 2023. One such occasion was the wedding of Rev. Geraint and Rev. Ceri, with Bishop Mary in attendance. 2023 was not without its problems and challenges! The graveyard wall became a great concern but will hopefully be resolved in the Spring of 2024. Ingress of water in the tower during the many periods of heavy rain also became a concern. This too will be resolved with the tower being coated with lime slurry during Spring 2024. Our congregation continued to support the work of the Food Bank, the Wallich and the meat hamper scheme. Members of Tir Iarll Women’s Institute joined our congregation for a carol service, which meant our church was full. A wonderful service which ended with refreshments kindly provided in the Old House and we were extremely grateful to them for their support throughout the year. We welcomed many visitors from all parts of the world who were interested in our historic church. Listening to the stories these people tell about their connection with the church is so uplifting. Children from our local school have also visited during the year. We faced many challenges during 2023 but look forward once again to supporting each other and worshiping with our Ministry Area colleagues throughout 2024. St David’s: Sunday morning Eucharist services were split between St. David’s and St. Michael’s. Several of these services were led by visiting priests and we were very grateful for their support. Donations of food from the Harvest service went to the local Food Bank and the church was also the venue for the Uniform Swap Shop. We also owe a debt of gratitude to those who prepared the flowers, arranged the music and cleaned the church. In October Lisa Spratt our odinand led a special Service of Remembrance for local families to remember Baby Loss Awareness Week. A special congregational meeting was held in October chaired by our Ministry Area Leader (MAL) to discuss the costs of repairs to the roof and the bellcote. The MAL informed the meeting that The Ministry Area Council were not able to sanction the expenditure due to the amount of money required and therefore the work could not proceed. Page 4 ## **Llynfi and Upper Afan Valleys Ministry Area** ## **Trustees Annual Report** St Michael’s: 2023 marked the first full year free of Covid restrictions; however, in common with most other churches, attendance has still not reached pre-Covid levels and continues to be a source of concern. An ageing congregation, ill health and infirmity have all taken their toll on the number of regular communicants, but we remain grateful for those who are able to join us regularly, and for the prayers and support of those who can no longer join us in person. During 2023, the church was again able to welcome the wider community for events such as the Remembrance Day Service and the Christmas Tree Festival, which is now a particularly important fixture in the calendar. During the festival, we welcome local schools and choirs to perform and to hear the Christmas story. The festival was rounded off by a service of Lessons and Carols, and we were honoured to welcome Bishop Mary to a Ministry Area Eucharist on the Sunday of the festival. The church is an important cultural venue for the town and was again well used during 2023 by a number of local choirs and schools for concerts, especially at Christmas. During the year the Choir Master stepped down after many years of dedicated service and the congregation were very grateful for everything he has done to maintain the choral tradition at St Michael’s. Luckily, he has passed the baton on to his daughter, and we are extremely glad that she has agreed to take on the role. During the summer, we installed a new sound system together with a camera system, which now allows us to live-stream our Sunday service, as well as offer live-streaming of services to mark life events. Already this system has allowed family members living abroad to partake in a funeral service. As part of this installation, we can now provide public Wi-Fi access in the Crypt. The Crypt continues to play an important role in the life of the church and the wider community. As well as hosting church events, it provides a venue for a number of community groups, including Noteworthy, Curtain Up, Maesteg Musical Theatre, and the local branch of U3A. 2023 saw the resumption of fundraising in earnest with the re-establishment of the Fundraising Sub-Group and a series of events which, as well as helping the general finances of the Maesteg group of churches, are an important source of fellowship and fun. These events are very well supported by our friends across the Ministry Area. Among the events held were the regular monthly Bingo Evenings, quiz nights, including an Italian Evening & Quiz and a Christmas Quiz, as well as a coach trip to Bath and a Christmas Coffee Morning. The Sub-Group have already planned a full calendar of events for 2024. The Church has also continued to support a number of charities during 2023. The Lenten and Advent Lunches were very successful, raising a total of £1,150 which was donated to the Mothers’ Union and other charities. In addition, over 65 boxes of gifts were donated to the Rotary Christmas Shoebox appeal, and the congregation continued to support the local Trussell Trust Food Bank. ## **ACHIEVEMENTS AND PERFORMANCE** The benefit to the public is a feeling of spiritual stability and freedom within the Ministry Area for the benefit of all God’s people. This is exercised through the provision of regular public worship and pastoral work, including visiting the sick and the bereaved; the teaching of Christianity through sermons and small groups, and the taking of Assemblies in local schools; the promotion of Christianity through staging special services. St Cynfelyn’s church hall and St Michael’s crypt are used regularly by groups of all ages from the wider community. ## **FINANCIAL REVIEW** The Trustees consider the financial performance of the Charity during the year to have been satisfactory. Specific changes in fixed assets are detailed in the notes to the accounts. The Board of Trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund. Policy on reserves: As an organisation we aspire to hold at least three-months operating costs in reserves. Restricted reserves are maintained for expenditure, at the discretion of the Trustees, on such projects that further the objectives and activities of the Charity. Page 5 **Llynfi and Upper Afan Valleys Ministry Area Trustees Annual Report** The Trustees are not aware of any material uncertainties that will affect the Charity's ability to continue as a going concern. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Church in Wales is a Province within the Anglican Communion and seeks to advance the Christian religion through world-wide mission. The Llynfi and Upper Afan Valleys Ministry Area is part of the Diocese of Llandaff and includes six churches: St Cynfelyn’s in Caerau, St John’s in Glyncorrwg, St Mary’s in Troedrhiwgarth and St Cynwyd’s, St David’s and St Michael’s in Maesteg. The Ministry Area Council (MAC) is the body containing the trustees of the Ministry Area. With the exception of the Clergy, the Lay Chair serves for 3 years and the MAC members 1 year, from the Annual Vestry AGM which is held before the end of June each year. There is no formal induction training, trustees are already members of the church and so are aware of the goals and aims of the church. Their roles and responsibilities are communicated verbally and the through the use of leaflets from the Charity Commission. The Charity is a public benefit entity. ## **Statement of trustees' responsibilities in relation to the financial statements** The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the charity's trustees Dr. A. Morgan Trustee 10 October 2024 Page 6 **Llynfi and Upper Afan Valleys Ministry Area Independent Examiners Report** ## **Independent Examiner's Report to the trustees of Llynfi and Upper Afan Valleys Ministry Area** I report to the trustees on my examination of the financial statements of Llynfi and Upper Afan Valleys Ministry Area for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - the accounting records were not kept in respect of the charity as required by section 130 of the Act; or - the financial statements do not accord with those records; or - the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent 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 the financial statements to be reached. Robert Roger Cole - Association of Chartered Certified Accountants Robert Cole & Co Office 2 Llynfi Ent. Centre Heol Ty Gwyn Ind. Estate Maesteg CF34 0BQ 10 October 2024 Page 7 **Llynfi and Upper Afan Valleys Ministry Area Statement of Financial Activities** ## **for the year ended 31 December 2023** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other
7
**Total**
**Expenditure on:**
Raising funds
8
Charitable activities
9
Other
10
**Total**
Net gains on investments
**Net income/(expenditure)**
Transfers between funds
**Net income/(expenditure)**
**before other gains/(losses)**
**Other gains and losses**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**||**Unrestricted**
**funds**|**Restricted**
**funds**|**Total funds**|**Total funds**| |---|---|---|---|---|---| |||**2023**|**2023**|**2023**|**2022**| |||**£**|**£**|**£**|**£**| ||||||| |||91,034|160|91,194|120,674| |||9,060|9,186|18,246|13,718| |||23,260|-|23,260|22,375| |||162|-|162|5| |||19,059|-|19,059|35,633| |||142,575|9,346|151,921|192,405| ||||||| |||2,339|-|2,339|3,920| |||70,674|-|70,674|90,804| |||63,099|9,803|72,902|98,491| |||136,112|9,803|145,915|193,215| |||-|-|-|-| |||6,463|(457)|6,006|(810)| |||2,336|(2,336)|-|-| |||8,799|(2,793)|6,006|(810)| ||||||| |||-|12,013|12,013|-| |||8,799|9,220|18,019|(810)| ||||||| |||137,470|244,076|381,546|382,356| |||146,269|253,296|399,565|381,546| ||||||| ||||||| ||||||| Page 8 **Llynfi and Upper Afan Valleys Ministry Area Balance Sheet** ## **at 31 December 2023** |**Charity No. 1203565**
**Fixed assets**
Investments
12
**Current assets**
Cash at bank and in hand
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset or liability**
**Total net assets**
**The funds of the charity**
**Restricted funds**
13
Restricted income funds
**Unrestricted funds**
13
General funds
Designated funds
**Reserves**
13
**Total funds**|**2023**
**£**
178,057
178,057
221,508
221,508
221,508
399,565
399,565
399,565
253,296
253,296
84,676
61,593
146,269
399,565|**2022**
**£**
166,044| |---|---|---| |||166,044
215,502| |||215,502| |||215,502
381,546| |||381,546| |||381,546| |||244,076| |||244,076
77,159
60,311| |||137,470| |||381,546| Approved by the trustees on 10 October 2024 And signed on their behalf by: Rev. R.J. Gratton Trustee 10 October 2024 Page 9 **Llynfi and Upper Afan Valleys Ministry Area Notes to the Accounts** ## **for the year ended 31 December 2023** - 1 **Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Church in Wales Accounting Regulations. ## **Change in basis of accounting or to previous accounts** The financial statements are presented in Sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the application of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. No significant judgements have had to be made by the trustees in preparing these financial statements. The trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern. ## **Fund accounting** Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Page 10 **Llynfi and Upper Afan Valleys Ministry Area Notes to the Accounts** ## **Income** - Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. - Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. - Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets **Expenditure** Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. - Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. - Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. - Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. - Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Trade and other 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. Page 11 **Llynfi and Upper Afan Valleys Ministry Area Notes to the Accounts** ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other 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 party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Leased assets** Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Page 12 **Llynfi and Upper Afan Valleys Ministry Area Notes to the Accounts** ## 2 **Statement of Financial Activities - prior year** |2
**Statement of Financial Activities - prior year**||||| |---|---|---|---|---| |**Income and endowments from:**
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
**Total**
**Expenditure on:**
Raising funds
Charitable activities
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
**Total funds carried forward**
3
**Income from donations and legacies**
Planned giving, collections,
donations & gift aid
For Mission
GASDS
Grants & legacies
4
**Income from charitable activities**
Fees|**Unrestricted**
**£**
73,684
2,170
6,612
8,568
91,034
**Unrestricted**
**£**
9,060
9,060|**Unrestricted**
**funds**
**2022**
**£**
106,308
6,689
21,525
5
35,633
170,160
1,961
90,804
93,550
186,315
(16,155)
(16,155)
(16,155)
(16,155)
**Restricted**
**£**
160
-
-
-
160
**Restricted**
**£**
9,186
9,186|**Restricted**
**funds**
**2022**
**£**
14,366
7,029
850
-
-
22,245
1,959
-
4,941
6,900
15,345
15,345
15,345
15,345
**Total**
**2023**
**£**
73,844
2,170
6,612
8,568
91,194
**Total**
**2023**
**£**
18,246
18,246|**Total funds**
**2022**
**£**
120,674
13,718
22,375
5
35,633| |||||192,405
3,920
90,804
98,491| |||||193,215| |||||(810)| |||||(810)| |||||(810)| |||||(810)| |||||**Total**
**2022**
**£**
77,751
3,456
1,731
37,736| |||||120,674| |||||**Total**
**2022**
**£**
13,718| |||||13,718| Page 13 **Llynfi and Upper Afan Valleys Ministry Area Notes to the Accounts** ## 5 **Income from other trading activities** |Money raising
6
**Income from investments**
Bank interest & dividends
7
**Other income**
Sale of assets
8
**Expenditure on raising funds**
_Fundraising trading costs_
Money raising
9
**Expenditure on charitable activities**
_Expenditure on charitable_
_activities_
Parish share
Parochial expenses
Support costs
_Governance costs_|**Unrestricted**
**£**
23,260
23,260
**Unrestricted**
**£**
162
162
**Unrestricted**
**£**
19,059
19,059|**Total**
**2023**
**£**
23,260
23,260
**Total**
**2023**
**£**
162
162
**Total**
**2023**
**£**
19,059
19,059|**Total**
**2022**
**£**
22,375| |---|---|---|---| ||||22,375| ||||**Total**
**2022**
**£**
5| ||||5| ||||**Total**
**2022**
**£**
35,633| ||||35,633| ||||| ||**Unrestricted**
**£**
2,339
2,339
**Unrestricted**
**£**
63,181
7,493
-
70,674|**Total**
**2023**
**£**
2,339
2,339
**Total**
**2023**
**£**
63,181
7,493
-
70,674|**Total**
**2022**
**£**
3,920| ||||3,920| ||||**Total**
**2022**
**£**
81,880
8,717
207| ||||90,804| Page 14 **Llynfi and Upper Afan Valleys Ministry Area Notes to the Accounts** ## 10 **Other expenditure** |**Other expenditure**||||| |---|---|---|---|---| |Maintenance of services
Ministry area
Parish & other grants and
donations
Premises costs
General administrative costs
Legal and professional costs|**Unrestricted**
**£**
10,071
4,998
5,521
40,494
1,547
468
63,099|**Restricted**
**£**
-
-
-
9,803
-
-
9,803|**Total**
**2023**
**£**
10,071
4,998
5,521
50,297
1,547
468
72,902|**Total**
**2022**
**£**
4,384
5,756
7,245
74,220
6,496
390| |||||98,491| ## 11 **Staff costs** No employee received emoluments in excess of £60,000. ## 12 **Investments** |**Cost or revaluation**
At 1 January 2023
Revaluation
At 31 December 2023
**Net book values**
At 31 December 2023
At 31 December 2022|**Other**
**investments**
**- Listed**
**£**
166,044
12,013
178,057
178,057
166,044|**Total**
**£**
166,044
12,013| |---|---|---| |||178,057| |||178,057| |||166,044| Page 15 **Llynfi and Upper Afan Valleys Ministry Area Notes to the Accounts** ## 13 **Movement in funds** |**Movement in funds**|||||| |---|---|---|---|---|---| ||**At 1 January**
**2023**
5,236
1,194
281
71,321
166,044
244,076
77,159
-
60,311
60,311
381,546|**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
-
2,462
-
6,884
12,013
21,359
142,565
-
10
10
163,934|**Resources**
**expended**
**£**|**Gross**
**transfers**
**£**
-
-
(281)
(2,055)
-
(2,336)
634
905
797
1,702
-|**At 31**
**December**
**2023**
**£**
922
2,966
-
71,351
178,057| |**Restricted funds:**
**Restricted income funds:**
St Cynfelyn's
St John's
St Mary's
Maesteg
Ministry Area Investments
_Total_
**Unrestricted funds:**
**General funds**
**Designated funds:**
Ministry Area
Maesteg
_Total_
**Total funds**|||||| ||||(4,314)||| ||||(690)||| ||||-||| ||||(4,799)||| ||||-||| ||||(9,803)
(135,682)
-
(430)
(430)
(145,915)||| ||||||253,296| ||||||84,676
905
60,688| ||||||61,593| ||||||| ||||||399,565| Purposes and restrictions in relation to the funds: Restricted funds: St Cynfelyn's Designated funds for furthering the religious and charitable work of St Cynfelyn's Church St John's Designated funds for furthering the religious and charitable work of St John's Church St Mary's Designated funds for furthering the religious and charitable work of St Mary's Church Maesteg Designated funds for furthering the religious and charitable work of the Maesteg Area Ministry Area Investments Legacies & funds whose use is restricted according to the terms on which they were received Designated funds: Ministry Area Funds that can be spent generally for furthering the religious and charitable work of the Ministry Area Maesteg Funds that can be spent generally for furthering the religious and charitable work of the Maesteg Area Page 16 **Llynfi and Upper Afan Valleys Ministry Area Notes to the Accounts** ## 14 **Analysis of net assets between funds** |14 **Analysis of net assets between funds**|||| |---|---|---|---| |Investments
Net current assets
15 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**Unrestricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**£**| ||-|178,057|178,057| ||146,270
146,270
**At 1 January**
**2023**
**£**|75,238
253,295
**Cash flows**
**£**|221,508| ||||399,565| ||||**At 31**
**December**
**2023**
**£**| ||215,502|6,006|221,508| ||215,502
215,502|6,006
6,006|221,508| ||||221,508| ||||| Page 17 **Llynfi and Upper Afan Valleys Ministry Area Detailed Statement of Financial Activities** ## **for the year ended 31 December 2023** |**Income and endowments from:**
Donations and legacies
Planned giving, collections,
donations & gift aid
For Mission
GASDS
Grants & legacies
Charitable activities
Fees
Other trading activities
Money raising
Investments
Bank interest & dividends
Other
Sale of assets
**Total income and endowments**
**Expenditure on:**
Costs of other trading activities
Money raising
**Total of expenditure on raising**
**funds**
Charitable activities
Parish share
Parochial expenses
Support costs
**Total of expenditure on charitable**
**activities**
Other expenditure
Maintenance of services
Ministry area|**Unrestricted**
**funds**
**2023**
**£**
73,684
2,170
6,612
8,568
91,034
9,060
9,060
23,260
23,260
162
162
19,059
19,059
142,575
2,339
2,339
2,339
63,181
7,493
-
70,674
70,674
10,071
4,998|**Restricted**
**funds**
**2023**
**£**
160
-
-
-
160
9,186
9,186
-
-
-
-
-
-
9,346
-
-
-
-
-
-
-
-
-
-|**Total funds**
**2023**
**£**
73,844
2,170
6,612
8,568
91,194
18,246
18,246
23,260
23,260
162
162
19,059
19,059
151,921
2,339
2,339
2,339
63,181
7,493
-
70,674
70,674
10,071
4,998|**Total funds**
**2022**
**£**
77,751
3,456
1,731
37,736| |---|---|---|---|---| |||||120,674| |||||13,718| |||||13,718| |||||22,375| |||||22,375| |||||5| |||||5| |||||35,633| |||||35,633| |||||192,405
3,920| |||||3,920| |||||3,920
81,880
8,717
207| |||||90,804| |||||90,804
4,384
5,756| Page 18 ## **Llynfi and Upper Afan Valleys Ministry Area Detailed Statement of Financial Activities** |Parish & other grants and
donations
Premises costs
Premises repairs and
maintenance
Other premises costs
General administrative costs,
including depreciation and
amortisation
Bank charges
Equipment expensed
Stationery and printing
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income/(expenditure)**
Transfers between funds
**Net income/(expenditure) before**
**other gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|5,521
20,590
29,789
10,705
40,494
403
-
252
49
843
1,547
468
468
63,099
136,112
-
6,463
2,336
8,799
-
8,799
137,470
146,269|-
-
5,549
4,254
9,803
-
-
-
-
-
-
-
-
9,803
9,803
-
(457)
(2,336)
(2,793)
12,013
9,220
244,076
253,296|5,521
20,590
35,338
14,959
50,297
403
-
252
49
843
1,547
468
468
72,902
145,915
-
6,006
-
6,006
12,013
18,019
381,546
399,565|7,245| |---|---|---|---|---| |||||17,385| |||||40,264
33,956| |||||74,220| |||||260
3,599
1,856
324
457| |||||6,496| |||||390| |||||390| |||||| |||||98,491| |||||193,215
-| |||||(810)
-| |||||(810)
-| |||||(810)| |||||382,356| |||||381,546| Page 19