GLYNAERON COASTAL LOCAL MINISTRY AREA ANNUAL REPORT AND ACCOUNTS FOR THE PERIOD 01 JANUARY 2024 TO 31 DECEMBER 2024 CHARITY COMMISSION NUMBER 1204984 D M B DAVIES ACCOUNTANTS Glynaeron Coastal Local Ministry Area Annual Report of the Trustees 31 December 2024 The Trustees present their report together with the unaudited financial statements of Glynaeron Coastal Local Ministry Area (the LMAI for the year ended 31 December 2024. Objectlves and activities The LMA is a parish in the diocese of St Davids in the Church in Wales. It is a Christian church comprising the former parishes of: Holy Trinity, Aberaeron St David's, Aberarth St David's, Henfynyw St Padarn's, Llanbadarn Trefeglwys St Llwchaiarn's. New Quay St Ina's, Llanina Holy Trinity, Cross Inn, Llandysul St Tysilio's, Llandisilio St Caranno¢s Llangrannog St Michael's, Penbryn The LMA facilitates services at our church buildings and community activities in our church halls. We also provide pastoral care to the local community in mid Ceredigion. Strurture, governance and management The LMA is an unincorporated association and is registered with the Charity Commission for England and Wales as charity number 1204984. The LMA was established on the 18 November 2019, by a Decree from the Bishop of St Davids, which merged the former parochial church councils of the churches listed above. The LMA is governed by the LMA Council consisting of 10 Trustee5 currently, both Lay and Clerical representing the 10 churches of the LMA. Trustees and Officers The Trustees and officers of the LMA durin8 the year ended 31 December 2024 were: Reverend Canon John Lewis- Chairman Reverend Doctor Matthew Baynham {resigned 30.09.24) Reverend JL*dith Morton Anthea Lister- Treasurer Myra Bennett- Secretary Wendy Roberts David Hill Nigel Adams Helen Eades Osian Evans Achievements and performance As a result of the amalgamation of the 10 churches in the LMA. the resulting gross income exceeds the limit requiring registration with the Charities Commission. During 2023 we completed the registration with the Charities Commission. As part of the reorganisation. all of the churches in the LMA have started to use the accounting software My Fund Accounting. The results ofthe LMA have been prepared using accounts prepared using this software. The LMA holds a minimum of three meetings a year and is looking at ways to assist the churches with administration. finance and safeguarding. Financial Review The Income and Expenditure account for the LMA includes the results from the ten churches comprising the Glynaeron Coastal LMA. They are prepared on a cash basis. During the year the LMA received unrestrirted income of £117,32112023 - £116,056) and incurred operating expenses of £143,32612023 - £132.2911. resulting in an operating deficit on unrestricted funds of £26,00512023 - £16,235) Primary sources of income during the year included planned giving and collections, donations and legacies of £78,75012023 - £81.7111. Primary expenditure included Ministrv share of £76,20612023 - £58,9441, church operating expenses and maintenance of £23,224 12023- £23,70113nd other property expenses and maintenance of £15,16812023- £25,890). At 31 December 2024, the LMA held unrestricted funds of £472,589 12023- £510,2041 and designated funds of £62,76412023 - £62,372). These balances are still held by the individual churches and not by the LMA. The restrirted funds relate primarily to the upkeep and malntenance of our churchyards and funding received specifically for church maintenance. The LMA received restricted income of £28,33012023 - £39,819) from donations and funeral fees and spent £26,02612023 - £17,279) on upkeep of the church yards. At 31 December 2024, there were restricted funds held by the churches of £620,51012023 - £616,314). In the autumn of 2024, Ecclesiastical Insurance completed the transfer of individual insurance policies for each church to one central policy for the LMA. As a result the LMA now collects the monthly insurance premiums from the churches and transfers the funds over to Ecclesiastical. Similarly the Diocese is now charging the LMA for the total Ministry Share previously paid by the churches individually. The above report has been prepared on behalf of the Board of Trustee5 Signed by Rev Canon John Lewis Chairman .9 LQ.102S INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF GLYNAERON COASTAL LOCAL MINISTRY AREA I report to the trustees on my examination of the accounts of the Glynaeron Coastal Local Ministry Area for the period 01 January 2024 to 3] December 2024. Responsibilities and b?sis of report As the charity trustees of the Trust you are responsible for the preparotion of the accounts in accordance with the re¢4uirements of the Charities Act 20111'the Art'l. I report in respect of my examinatlon of the Trusvs accounts carrSed out Under section 145 of the 2011 Act and in carrying OLtt my examination I have followed all the applicable Directions given by the Charity Commission under sertion 14515llbl of ihe Act. Independent examinerfs statement I have completed my examination. I 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'.- l. accounting records were not kept in respect of the Trust a5 required by section 130 of the Art; or 2. the accounts do not accord with those records I have no concerns and have come across no other matters in connection with the examination to which attention shoLsld be drawn in this report in order to enable a proper understanding of the accounts to be reached. J•JlA.6-. f D M B DAVIES LIMITED Accountants Broyan House Priory Street G4RDIGAN Ceredigion SA43 IBZ 7 203 Page 5 Glynaeron Coastal Local Ministry Area Receipts and Payrnents AGGount For the period from 01 January 2024 to 31 December 2024 TrAal Prl(Yyear tcéal fln tknations ￿g￿￿eS Inwne frutn tharitsb1eaLt￿te5 Oh8ftrading actKths In¥e5trnents 87.336.02 4,162.LK) 10.W2646 14.853.40 43.18 3Q).LK) 17.98120 4.720.00 105.617.T2 8.882.( 10956.46 20,917.94 43.18 111.49727 15252.IN) 6,W23 16,83195 fj3.5￿ 164.045A5 389.71 5.598fj8 76.15 Tc¢al l*¢e4ts pa￿*￿5 Fyndi￿re charilabEeaL*¥ilr8s cxhereyndi￿re YrlalPawThrts 117J2t 89.71 28.329A8 T&15 146.416.80 140,767E2 20,297.56 26.026.70 2.558(0 187.091.88 2.558(k) 147.440.97 2.129. 143,325.62 20297.56 2C026.70 189,Q49.88 149,569J7 E%ce$$ LrfreCe1￿ WuÈtrarn%fer 126,OD4.561 119M)7.8SI 2JO3.18 7&15 143,233.081 14475A8 TrarEFgrs' (>0ss transf8ts ttheenfjJrKJg- 1>0ss tsnsfÈrs beN*e8n fvnds-oul Excess drecelKts thr1%￿rWtsbef£￿e L￿r￿￿[ trNheTrxnt 1.1￿26 20,LKKI.(M) 120.(M)2nS1 144.856351 137.614.771 2,889.79 24,040.05 17.370.IS 14.038.CKII 124.040.051 117.370.151 It.072.(￿) 143233081 14,475.48 IB32.161 133,858.251 44212S9 392.15 2.303.18 4196S3 39115 PEcr¥￿11￿*1(￿L￿fllI Ex¢es8rfreceiFtsth*rp￿r￿rts&ttr4￿￿￿aCIth￿ ￿ar Excess sear 51020432 62J71.69 616.313 472W%5 6176&84 620,510.18 9.12414 1.198,013.BO 1.153.B012t 8291.98 1.164,155.55 1,196,013.BD 127 Ar￿1 a)25 3.17 wnl Page 1 ￿ 1 C4ynaeron Coastal Local Ministry kna Balance Sheet (Separate fund$} General 0o$ignated Restrlct¢d Endowment At 3111212024 M 3111212023 Flxod assets Curr•nt 8sset$ 610A)5 610.05 501.789.65 661,755.85 2,fAM)AM) 509,215.42 686,198ll8 ￿￿e$￿en Cash A Bank￿4 ￿ Har 147,W.49 324,035.01 15nOI 350.634.33 2.Te8A4 269.875.85 3.215A3 5.076.15 472.589.55 02.763.84 620,510.18 8,291.98 1.164,155.55 1,198,013.80 Llabllltles Nèt eurrent assets les$ currènt liabilitlgs 472,589.55 62,763.84 620.510.18 8.2g1.98 1,164,155.55 1,198,013.80 Total assèts less current Ilablllt16$ 472.589.55 62.763.84 620.510.18 8,291.98 1.164,155.55 1,198.013.80 Total not a$s8t5 less Ilablllll¢$ 472.589.55 82.763.84 620,510.16 8.291.98 1,164.155.55 1,198,013.80 Represented by Unrestricted Llnreskncted.Cenerd Fund 472,58955 472,569&5 slo2￿.32 08signated Designat8d.2(r20 Fth Ignated.￿lIding Fund Designated-DesignatÉd ￿lIdI￿j￿d￿Dty Fwid Designated-Henfy￿y￿ NOWerF￿ Designated-HenfvN5wMllenium FUNJ Designated- MnisbyTraining DeSignal￿-￿enf￿Y￿&nd8Ysth0c 25J89B3 21.975A7 7,654D3 228.00 5.45435 1,(M)423 1.￿7.43 25.389B3 21.975B7 7.654.03 32.7W2.78 I45￿.48 7,W.98 228. 5.45435 1,IM)4J3 1.051.43 5,154.69 1.004.33 1,057.43 Restrlctèd Restriitsd.5KFwJb8nk Re5tricled- Han[￿￿chur￿ TrtsInten￿K RestrK*ed-Churthyard Fund Restrcted. (TrFLJrd)TowerLottpry51407171 R8sMcted.ChuTthYar(l Restrcted Fund Re5thded.knrathaTrurthswd Restiict8d.Churth5OTd EyEe5 Re5thcted. Churchjgrd Trkintenan Resbictsd- CYLegaaes ResknLled.JAJonesfftlaestsg£r08swas6 Restrcled- Lpl￿pport Re&kntled.ChiWien's Mssion FLnd 7.405.17 11.49).121 45W27 70.41 288,832.W2 102,556h2 15.754.46 154,￿.15 24.151h4 7.40&17 I1,4￿.12} 4A)27 70.41 9W.70 5,032J7 288,83292 102x82 15.754.46 154,￿15 24,151A4 288,8Y2.92 98,34928 16,J97.63 153,WA2 24,151B4 39J26 39926 s￿5.50 5,565A) P7WI ￿4..22￿lIpa￿ 1 of2 R8skn(trJ.Noshthd Naller Resthded-FlaniDewi R8sknrtsd-SHmarylans F￿r&& Reskn(tsd.Teath Restrd￿-Chtsrth Tow HLF81412043 Restiided.Rwlual"&ires•5 2,18&76 21.32 2.186.76 2122 75ts3 17.10 1,82823 75.63 14.028.02 1,Irx)59 14,028.02 1.10D.59 12.630.67 Endowment Endo￿ent-Be￿valmaI (*ffith. Endo%*m8nt ErwJowllent.CatrErine Be￿ Lew8 RBCiW4468 Endowment.SWLe9acyFL￿d Fund Totals 5,000.(X) 3.29198 5,(Kl).(¥J 3,291.98 88.19 4,035. 472,589.55 62,763.84 620.510.18 8,291.98 1,164.155.55 1.198.013.80 P7 Ar￿1 ￿254..?2 Fvnl Pap 2 r12 Glyna6ron Coastal Local Mlnlsty Arèa Analysis of income and expenditure Selected perfod: 01 January 2024 to 31 December2024 Total General De51gnated Restrl£ted Endowrrtent Th15 yB4r Last year Income and endowments from: Donatlon8 and lega¢l85 0101-sland1ngc*derRann￿ Giing 0102-(Xxx$lonal Bank 20,729.00 800.00 2,020.00 842.00 22,749.1)D 1,942.DO 1.165.00 8,629.D5 940.00 18980.79 545.00 12,978.97 20.00 180.00 161.26 24,402.00 4,495.00 20S.00 9254.31 880.00 18221.36 40.00 0110. L4ftPid 0111-SftDi 0112- Cth8rpl8nned oliing 0l13.lfike￿yeM￿Opevan￿e￿9lI1n9 o114-spets￿ S8rt4(s (S￿ngED￿0p¢S 0201- L￿SeF￿ale0ffering O202-CIT8￿n9$.m￿Ings 0204-thrings- Fun8fdl& 0302-Kèll Ssfe1￿Kthna￿￿ 0303.the off ijfLPid thnati(Th 0305-tknnati￿s ¥ppeals et¢ 0402.lJh9r￿￿la(ji0nshni5sI￿app￿als 0501. HMIC (IftAdr8￿IpI$ 0502. Hl4liC Gw)Sre￿lplS 0503. R￿j￿r8d LIftLlr8caGftPid IW1.Lyies o702-No￿r￿￿ffj0nQ￿9Wt$ 1.165.00 8.434n5 0.00 18.980.79 545.00 12,978.97 19S.00 11.057.61 130Th) 1.131.20 17124 16126 10.100.th) 16A94.91 9D4.05 7,221£8 921.05 1,883A6 3,934.10 130.00 IOb18.72 292.73 12.070.65 .85 8.W.77 234.75 8.820.52 1.791.40 lo,￿.00 1.791AO 13.000.00 750.Q) 3.(￿.00 750.00 Donatlons and 18gacl68 Tota18 87,336.02 300.00 17,981.20 105,617.22 111.497.27 Income from charltable activlties IK.3050 ￿beratrron, Holy TrlnÉty. K-3051 Uanddewl ￿)srarth. St Davld, K-30S2 Honfynyw. St Davld. K.3160 Uangrannog. St Carannog, K.3162 Llandyslllogogo, St Ty81110, K-3275 P8nbrynt St Mchael, K.3467 Cross Inn, Hoty Trlnlty, K-3468 Uanlna, St Ina, K-3469 New Quayt St Ilwchalarn. K.3533 Uanbadar# Ttefeglwysi St Padarn. Bro Glyn Ptron Icoastalll O902.￿￿dIngfe6 Q904-AWI(xtian ofBanns 0905- FuneTal f80 2,045,00 104S.IK) 50.00 915.00 .00 826.00 246.QO 2,421.00 2,053.(M) 4,720.00 1,072.00 4￿61.00 3,273.00 8214.00 2,442.00 1.1n.00 8.882.00 15.252.00 0906. fee 0907-Kknorial fat 852.00 Incorne from ¢haritoblÈ oetlvltlès Totals 4.162.00 Other tradlng actlvitlos IK-3050 Al)eraeron, HolyTTinity. K-3051 Uanddewl Abèrorth. St Davld, K4052 Hanf￿yw, St Davld. K.3160 Llangrannog. St Carannog, K.3162 Uandysiliogogo. St Tyslllo, K-3275 Panbryni St Mchael, K-3467 Cross Inn, Holy Trlnityi K-3468 Llanina, St Ina. K-3489 New Quay. St Ilwchalarn, K-3533 Uanbad8rn Trefeglwys, St Padarn, Bro Glyn Péron Icoastalll 0801- ￿dI¥l9]ng 0802- Ohertund$ 48nerthd 0803. RenLql 0804. VRgazneIotheTpubliganislAlowarK* 2101-Cl8rgywns&s 2102-Cl8wyw8r￿*S-M118aQe 2103-CleweyTrses-printin￿po5￿g￿f3ti0n9ry 2145-Parsonag8.water 214fj.Par50n8P. 2147-Par&onaye.dec*fjdty 2148.ParSonayè.CYlthk￿￿￿FQOtr 2149-Parsonage.othere>pense5 21Y). Cl8rgy.14epPth8thoblltrAnbm6t 2201-kslstantdergyfe8sleyn58S 2203. cLtst0w￿$es 2234- Laymnisters Salary 2236. Laymnlstets Pen51oncxJnthbutyon5 7. Bllnk&WrthanlCharps 2340- ￿tsInt￿n￿c* ofsaThlcas 76205.75 624.00 78205.75 624.00 3538.37 2204.96 179.07 3,538.37 2.304.96 179.07 3.ff20A8 1,fQ4.34 47B.H 478.44 1,361.ts4 2A17.62 2A17.62 66425 1,310.57 331.W2 741.98 429. 235.( 429B5 235.( 182AO 16250 183.52 82.58 246.10 229.20 1.936.08 1.936.08 1271.e8 1P20.00 713.99 2341. C£6ts otw￿8rs.orgar1S*S tho 2243-￿SICI[hStr￿nSntTun1nsthI￿tenarK 2344-Ctsisofdi¥tal lstraaming.substtlpo￿ts1 2Y5-G)stsofCop5￿9htLll￿se 2401-Coslsofm*bng$ 24O2-&ynk8r￿ ¢redilC¥d tharags 2403-Coslofprinlng, posi and skbonery 24(￿-0￿c￿artd 98neral ewdiiuro 2408.Leasingand Hire purrliase dwge5 2410- IEIPuditanda(muntsnryfe8S 2415-Gts io Indi¥iduals 2423.14trlfftftEyn5e5 15508 215.( 803.IM) 108A2 1￿.86 215.00 803.00 19825 104.52 212.94 1,133.37 386.91 1,133.37 386.91 1.327JO 327.80 1,803.74 1258.00 1221.È0 1R03.74 1258.00 1221.80 1,7￿.28 1380.001 7&9.00 10111 (27 th13)25 P.20 prnl P48 2of3 Total Goneral Deslgnated REstrlct8d Endowment This year Last ygAr 2425-Mmin6tsff (Xherts)sLs 2450- costs 2￿1. Churth operating m5ts-insuraTKX 25D2- yrating wsts-elethryty 2504- Churth wsts-waler 2505. Q*urr* owating wsts-OLhw 2508-CMrth ￿pairS and mantenar 2509. ¢Mrch Cthning 2511. op8rabng u)sts-fire*4uipm8ni.r(¥)falam, CCIV seN£e 57.50 77.50 1309.871 7,9)8.41 723851 313.55 1309.871 7,908A1 7238.51 313. 7,604fi0 7.747h1 360.36 374.07 3.35207 3,4¥2.10 100.(Q 474.07 344.75 1,160.(K) 4,512.07 3,492.10 4265.33 3,049.23 47339 473.39 550.14 2601-Cthth5ord managernenlLY)5ts 2602-ChLYth hall opBrab"ngw5ts-other 2603-ChLrt* hall opw8tingu)5ts-el*ric 2805-ChuW hHII aperatingLVSY6-in8uranc¥ 2606.thuth hall tosts-retkgirslmainknan 2fA18-Chur¢h hall opPrabng￿Sts-￿?ter g-churth hall-è4ulpm6nlrspair&rene 2611-Chur¢h hall operatru LX)sis-dea￿ng 2612- CXh8rp•r6pairslmaint8nanca 2614. ¢jherpr0pety-Bi￿(ify 2617- Cth8rprorety-wYler 2641- I￿vrr￿s￿rd grass r)j￿n9 2642-thurthsErd strudural repairs 2WM- Coslofchurch pUblI￿￿onS 2805-th1ofm￿SIon &evWism 2901.￿￿￿OI￿O¢$$an prciects 29O2-￿ppOrtorchuth &prqeds 2903-gJpkwJtolWth£rities 2904-￿p￿￿tQIIr￿rrhJti￿)￿m1SsIOn&prOi8ds Expendlture on ¢harltsble actlvltl88 Totals 14M9124 14.391.24 154.20 3,883.55 3,340.81 15000.16 255.02 11.579.05 813.42 12,108.64 3.760.80 3,PAS.94 3.4W.62 8,155.12 303J9 15420 3.￿4.28 3.340.81 6.S81.65 255.02 3592T 9218.51 11,079.05 813A2 818 84.37 95.36 6￿2.60 3.946.50 2,646. 747.K 63￿5 19820 6M32m 198.20 8,171.75 4.(M)J.og 572.75 396. 1,110. i.W6.02 187.091.8B 147,MO.97 1,339.72 572.75 1.110.96 140.767.62 20,297.56 26,026.70 other èxpondlture IK.3050 *b&raèron, Holy Trlnityb K-3051 Uanddewl Aberarth, St David. K.3052 Aenf￿yw, St David, K.3160 Llangrannogi St Carannog. K.3162 Uandy511iogogo. St Tyslllo, K-3275 Penbryn, St Mchaèl. K-3467 Cr05s Inn, HolyTrÉnlty. K.3468 Llanlna, St Ina. K.3469 N8w Quayb St Ilwchaiarn. K.3533 Uanbadarn Treteglwy, St Padarn, Bro Glyn A*ron Icoastalll 31ll1- [￿r￿a¥60f¥S$￿9 frythurthpJrPD￿S 2￿58.00 2.￿8.00 2,558.00 2.129. Othgr oxpondlture Tota15 Z.558.00 2,129.00 Expenditure Grand tota 143,325.62 20297.56 26,026.70 - 189.649.88 149.569.97 (27April 2ry257..￿ rxnl P¥ 3 d3