## **PENARTH MINISTRY AREA** **Charitable Incorporated Organisation** ## **TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS** **31 DECEMBER 2025** **Registered Charity: 1210418** |**CONTENTS**|**Page**| |---|---| |**1. Annual Report from the Board of Trustees of Penarth Ministry Area**|**3**| |**2. Report from the Independent Examiner to Penarth Ministry Area**|**8**| |**3. Statement of Financial Activities**|**9**| |**4. Balance Sheet at 31 December 2025**|**10**| |**5. Notes to the accounts**|**11**| _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## **1. Annual Report from the Board of Trustees of Penarth Ministry Area CIO** The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2025. The report has been prepared in accordance with the Charities SORP (FRS 102). ## **Objectives and activities** Penarth Ministry Area Charitable Incorporated Organisation (PMA) is a parish of the Church in Wales. The charitable object of PMA is the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical, in the parish. It is a Christian Ministry Area consisting of the churches of All Saints, Holy Nativity, St Augustine, St Dochdwy and St Peter Old Cogan. PMA is also responsible for churchyards associated with closed churches at Leckwith and at St Lawrence, Lavernock. We facilitate services at our church buildings and community activities in our church halls, and provide pastoral care to the local community in Penarth. The charity is a public benefit entity. All charitable activities are undertaken to further the organisation's charitable purposes for public benefit, in line with the Charity Commission's public benefit guidance. ## **Mission and Vision** Penarth Ministry Area began operations as a CIO on 1 January 2025. On that date, the CIO inherited the Mission and Vision set by Penarth Ministry Area (the unincorporated association) in 2023, as set out below: ## _Our Mission_ We exist as a Ministry Area, as part of the Diocese of Llandaff within the Church in Wales, to: - Proclaim the Good News of the Kingdom - Teach, baptise and nurture new believers - Respond to human need by loving service - Transform unjust structures of society, challenge violence of every kind and pursue peace and reconciliation - Strive to safeguard the integrity of creation, and sustain and renew the life of the earth ## _Our Vision_ - Visible and known - Flourishing, inclusive and outward looking - Making best use of our resources - Proactive in serving our community - Active in stewardship of our environment and challenging injustice 3 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## **Structure, governance and management** Penarth Ministry Area (PMA) operates as a Charitable Incorporated Organisation (CIO) registered with the Charity Commission for England and Wales as charity number 1210418. PMA is governed by a Ministry Area Council (MAC) consisting of 14 Trustees, both Lay and Clerical. Lay Trustees are appointed by vote of members of the electoral roll at the Annual Vestry Meeting. The MAC is supported by sub-committees which deal with: Mission; Children and Young People; Resources; Buildings; Pastoral matters; and Fellowship. ## **Trustees** The Trustees of Penarth Ministry Area at 31 December 2025 were: - Peter Akers - Hugh Bryant - Tom Crooks - Robert Court - Alina Davies - Melanie Griffin - Reverend Susannah Griffin - Elyn Hannah - Patricia Ann Humphrey - Neil Pugh - Christian Salisbury - Elizabeth Treasure - Huw Williams - Reverend Jimmy Young ## **Achievements and performance** On 1 January 2025, the Ministry Area became a Charitable Incorporated Organisation (CIO), registered with the UK Charity Commission (charity No. 1210418), replacing the previous unincorporated association (charity No. 1134117). On 1 January, charity 1210418 inherited the assets, liabilities, responsibilities and activities of charity 1134117. Whilst this represents a significant change in the underlying legal structure of the charity which delivers the functions of the Ministry Area, it does not impact our normal day-to-day operations. We continued our programme of Sunday Eucharists across all churches throughout the year, including family and youth-focused services, supported by Midweek Eucharists and Welsh-language services at All Saints. As always, we held special seasonal liturgies during Lent, Easter, Harvest, and Advent, supplemented by additional services for key annual events such as Remembrance Sunday. We also continued our programme of Children & Youth Engagement, which included Weekly groups and “Open the Book” assemblies. 4 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ Our Summer Celebration was (once again) a key highlight of the summer calendar, combining fellowship with fundraising for mission projects. We also held plant sales in early summer, supporting Ministry Area funds and encouraging community participation. In August, we said goodbye to Reverend Mark Jones, who departed for a new role as the Chaplain at Tudor Hall School. Mark was the first ever Ministry Area Leader for Penarth Ministry Area, following its creation by the merger of All Saints and the Parish of Penarth & Llandough in January 2022. We thank Mark for all his hard work and guidance in steering us through the early years of the Ministry Area, and we wish him all the very best for his new role. Whilst we were sad to see Mark go, we were delighted to welcome Reverend Susannah Griffin as our new curate, and we wish Susannah every success in her new role with us. The search is underway for Mark’s replacement, but for the time being Reverend Jimmy Young has assumed the Ministry Area Leader role, supported by Susannah. We continued our programme of Arts and Music Events throughout the year, with regular lunchtime concerts and themed arts workshops. Our annual Christmas Tree festival proved to be extremely popular once again, raising valuable funds for various charities. Whilst our ‘front line’ has been busy delivering our mission, the back-office support team has continued the extensive range of activities needed for the Ministry Area to function. In April, we took the difficult decision to sell the former curate’s house at 84 Coleridge Avenue, Penarth. This property has been a valuable asset, housing numerous curates for All Saints and (more latterly) Penarth Ministry Area, since it was first purchased by the (then) All Saints PCC in the 1980s. Given the decline in clergy numbers, the increased regulatory and operational risks involved in being a Landlord and increases in property prices during the last few years, the Ministry Area Council decided that it was time to sell. From selling the property we released a capital sum in excess of £450,000, which is designated for strategic projects to help the Ministry Area deliver its mission both now and well into the future. Additionally, in August, we received the reports from the Quinquennial Inspections of the church buildings and a series of Health and Safety reports on the churches, church halls and the parsonage in Windsor Road. These reports identified some 200 maintenance items needed across the Ministry Area (which is to be expected given the age of the various properties in the estate). The Ministry Area Council has prioritised the work needed and started commissioning the various tasks according to priorities and available funds. As we look towards 2026, our priorities include: - Expanding youth and family ministry - Completing the appointment of a new Ministry Area Leader - Addressing the significant maintenance requirements - Through our new Resources Sub-Committee, continuing to explore ways to increase revenue and reduce costs, to help ensure the Ministry Area continues to operate on a stable and sustainable financial basis 5 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## **Principal risks and uncertainties** During the year, the Board of Trustees refreshed PMA’s risk register. At 31 December 2025, the Board of Trustees considered that PMA’s principal risks, and key safeguards to mitigate those risks, included: |**Risk heading**|**There is a risk that…**|**…resulting in…**|**Safeguards/Actions**| |---|---|---|---| |Health and
Safety|…the condition of our
buildings is not consistent
with applicable Health
and Safety Legislation|• injury or death
• withdrawal of our permissions to
operate
• legal action (which could be civil or
criminal action) against the Ministry
Area and the trustees
• significant reputational damage|• Quinquennial inspections
• Periodic Independent Health &
Safety Review and delivery of
ensuing actions
• Health and Safety Working Group
• Training and periodic refresh| |Safeguarding|…PMA does not comply
with current Safeguarding
regulations|• harm to individuals
• legal action against Penarth Ministry
Area
• reputational damage|• Trustee training
• Nominated Safeguarding Officer
• Regular reports to MAC| |Data breach|…PMA is responsible for a
data breach|• harm to individuals
• legal action against Penarth Ministry
Area
• reputational damage|• Ongoing data awareness training
and awareness briefings
• Regular discussion of data related
issues at MAC meetings| |Insurance|…PMA's insurance does
not meet its insurable
risks|• inadequate cover which exposes PMA
to financial risk|• Periodic Insurance 'Deep Dives'
• Reliance upon the expertise of
Ecclesiastical Insurance as an
industry-preferred supplier of
insurance for Churches and their
related governing bodies
throughout the UK| The Board reviews the risk register on a regular basis. ## **Financial review** ## _Unrestricted general funds_ During the year, PMA received unrestricted general income of c£347,000, and incurred operating costs of c£369,000, resulting in an operating loss on unrestricted funds of c£22,000. Additionally, PMA recorded appreciation of c£3,000 in its general holding in the Church in Wales Common Investment Fund for the year and a surplus on disposal of a fixed asset of c£9,000. As such, PMA reports a net deficit for the year on unrestricted general funds of c£10,000. Primary sources of income during the year included Planned Giving of c£124,000; Money Raising of c£120,000 and other donations of c£25,000. Primary expenditure included the Common Fund of c£110,000; Maintenance of Churches of c£163,000 and General Parish expenses of c£60,000. For historical reasons, the Representative Body of the Church in Wales (‘the RB’) is the appointed legal owner of the majority of buildings used throughout the Church in Wales. Accordingly, such 6 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ buildings do not typically appear on the balance sheets of Ministry Areas. However, in October 2025, the RB disclosed to Penarth Ministry Area that the three church halls within the Ministry Area, legally owned by the RB, are in fact held by the RB in beneficial trust for the Ministry Area. The RB further recommended that the Ministry Area should add the halls to its balance sheet. Following independent financial consultation, MAC concluded the properties meet the accounting tests of control and future economic benefit and therefore added the properties to PMA’s balance sheet at a combined value of £1m, as at 31 December 2025. At 31 December 2025, PMA held unrestricted general net assets (reserves) of c£1.32m, consisting of property valued at c£1.27m; cash of c£27,000 and investments of c£25,000. ## _Designated funds_ As noted in the review of the year, PMA released approximately £450,000 from the sale of 84 Coleridge Avenue, Penarth. MAC designated these proceeds for strategic projects and, at 31 December 2025, the funds were held in the Church in Wales Common Investment Fund (c£108,000) and our interest-bearing account with CCLA (c£352,000). ## _Restricted funds_ PMA received donations and grants of £69,000 during the year, restricted for a variety of projects, including works to St Augustine’s, All Saints and Holy Nativity church buildings. At 31 December 2025, PMA held restricted funds of c£184,000. ## **Acknowledgements** The Ministry Area Council wishes to thank all who support its mission. In particular, we offer our thanks to the Clergy, whose tireless work guides our activity, and to our employees for their hard work and dedication throughout the year. We also wish to recognise and thank all those who provided financial contributions which are so vital to our mission and our continued existence as a Ministry Area. The MAC also expresses its thanks to all church wardens and volunteers who give their time freely and, without whom, the Ministry Area would not be able to function. Signed on behalf of the board ………………………….. ## **Reverend Jimmy Young** Interim Ministry Area Leader 18 March 2026 7 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## **2. Independent Examiner’s Report to the Trustees of Penarth Ministry Area** I report to the charity trustees on my examination of the accounts of **Penarth Ministry Area Charitable Incorporated Organisation** (Registered charity 1210418) for the year ended 31 December 2025, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. ## **Respective responsibilities of the trustees and examiner** The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility: - to examine the accounts under section 145 of the Charities Act - to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and - to state whether particular matters have come to my attention. ## **Basis of independent examiner's statement** My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view” and the report is limited to those matters set out in the statement below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that, in any material respect, the requirements: - to keep accounting records in accordance with section 130 of the Charities Act, - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **Signed:** **Date:** 18 March 2026 ## **Caroline Candy** Fellow, Association of Chartered Certified Accountants Naunton Jones Le Masurier Accountants, 24 St Andrews Crescent, Cardiff, CF10 3DD 8 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## **3. Statement of Financial Activities** ## **For the Year Ended 31 December 2025** |**For the Year Ended 31 December 2025**|||||| |---|---|---|---|---|---| |**Notes**
**INCOME**
Voluntary income
Planned giving
2 / 15
Loose collections
Donations
3
For Mission
Tax refunds
Legacies
4 / 16
Grants
5
Generated income
Money raising
6 / 15
Fees
Investment income
Interest
7
Rental income
8
Other income
Gas & Electricity refunds
Other income|**CURRENT YEAR - 2025**||||| ||**General**
**Funds**|**Designated**
**Funds**|**Restricted**
**Funds**||**Total Funds**| ||**£**|**£**|**£**||**£**| ||123,782
8,362
24,887
109
11,559
3,500
119,466
11,681
13,805
10,300
2,370
17,175|40,259|8,171
25,000
33,594
1,362
873||**123,782**
**8,362**
**33,058**
**109**
**11,559**
**65,259**
**37,094**
**119,466**
**13,043**
**14,678**
**10,300**
**2,370**
**17,175**| ||||||| |**TOTAL INCOME**|**346,996**|**40,259**|**69,000**||**456,255**| |**EXPENDITURE**
Support for Ministry Common Fund
9
Clergy expenses
10
Support for Ministry Other
Parish Activities
Maintenance of services
General Parish expenses
11
Church Property
Maintenance of churches
12 / 16
Maintenance of other property
Grants/
Missions: Parish
Financial Support
Missions: Home
Missions: International
Other expenditure
Cost of Money Raising|||||| ||110,000
4,796
1,551
17,283
60,393
162,649
5,266
1,220
4,027
1,855|300
143
5,277|333
130
40,367
3,515
108||**110,000**
**4,796**
**1,551**
**17,916**
**60,666**
**208,293**
**8,781**
**1,220**
**4,027**
**1,963**| ||||||| |**TOTAL EXPENDITURE**|**369,040**|**5,720**|**44,453**||**419,213**| ||||||| |**OPERATING SURPLUS / (DEFICIT) FOR THE YEAR**|**(22,044)**|**34,539**|**24,547**||**37,043**| |Asset revaluations
Common Investment Fund
13
Asset revaluations
Property
14
Transfers between funds|||||| ||3,120
9,000|7,506|||**10,626**
**9,000**| ||||||| |**NET SURPLUS / (DEFICIT) FOR THE YEAR**|**(9,924)**|**42,045**|**24,547**||**56,668**| 9 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## **4. Balance Sheet** ## **As at 31 December 2025** **----- Start of picture text -----**
CURRENT YEAR - 2025
General Funds Designated Restricted
Notes Funds Funds Total
£ £ £ £
Long term assets
Property 14 1,266,000 1,266,000
Church in Wales Common Investment Fund 13 25,163 107,506 132,669
Total long term assets 1,291,163 107,506 1,398,669
Unrestricted General cash funds
General Account 15 17,635 352,108 369,743
Investment account 15 23,000 23,000
Unrestricted Designated cash funds
Norman & Freda Jones Trust - Current A/C 16 38,652 38,652
Norman & Freda Jones Trust - Investment A/C 16 85,000 85,000
St Dochdwy's 5,282 5,282
Young People's Ministry Lead 45,000 45,000
Restricted cash funds
Young People's Ministry Lead 18 53,866 53,866
Friends of St Peter's 17 4,670 4,670
Current Account 17 35,912 35,912
Investment Account 18 90,209 90,209
Amounts receivable within one year 1,943 1,943
Amounts payable within one year 5 (14,730) (759) (15,489)
Total current assets 27,848 526,042 183,898 737,787
TOTAL ASSETS 1,319,011 633,548 183,898 2,136,457
Represented by:
Brought forward from prior year 781,043 139,395 159,351 1,079,789
Intra account movement 14 (452,108) 452,108 0
Addition of halls to Balance Sheet 14 1,000,000 1,000,000
Net surplus / (deficit) for the year per AFR (9,924) 42,045 24,547 56,668
TOTAL RESERVES 1,319,011 633,548 183,898 2,136,457
**----- End of picture text -----**
The accounts were approved by the Board of Trustees on 23 March 2026. **Mel Tuke-Griffin** Chair **Chris Salisbury** Treasurer 10 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## **5. Notes to the Accounts** ## **1. Accounting policies** These Financial Statements have been prepared in accordance with applicable United Kingdom accounting standards; the Statement of Recommended Practice, SORP 2019 (FRS102) issued by The Charity Commission; and the Church in Wales Accounting Regulations, which specify the Standard Form of Accounts to be adopted by parishes within the Church in Wales. The historical cost convention is used except for the valuation of certain fixed assets, whose valuation basis is detailed in note 1a below. The principal accounting policies are applied consistently. ## _**Fixed assets**_ Churches, Churchyards and Vicarages are vested in the Representative Body of the Church in Wales and any such property forms no part of the assets of the Parish. Moveable Church contents are inalienable property and require a faculty for disposal. Many are historic for which no reliable cost or valuation bases exist. They are not recognised on the Balance Sheet nor listed, to reduce the risk of theft and vandalism. Expenditure on Churches (including contents), Churchyards and Vicarages is written off when incurred. Other freehold land and buildings are held in trust for the Parish by either the Representative Body, or the Llandaff Diocesan Board of Finance. ## _**Income**_ - **Recognition of income:** Income is included in the Statement of Financial Activities (SoFA) when the charity 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 expenditure:** Where income has related expenditure the income and related expenditure is reported gross in the SoFA. - **Donations and legacies:** Voluntary income received by way of grants, donations and gifts is included in the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - **Tax reclaims on donations and gifts:** Income from tax reclaims is included in the SoFA at the same time as the gift/donation to which it relates. - **Donated services and facilities:** These are only included in income (with an equivalent amount in expenditure) 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 revaluation of fixed assets:** This includes any gain or loss resulting from revaluing investments to market value at the end of the year. 11 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## _**Expenditure**_ - **Recognition of expenditure:** Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. - **Expenditure on raising funds:** These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs. - **Expenditure on charitable activities:** These comprise the costs incurred by the Charity in the delivery of its activities and 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:** 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:** Support costs not allocated to a particular activity. ## _**Funds**_ - **General funds** : are funds which can be used for ordinary purposes by the Ministry Area. - **Designated funds** : are unrestricted funds set aside by the Ministry Area Council for a specific purpose. - **General funds** and **designated funds** combined constitute the charity’s total ‘ **Unrestricted’** funds - **Restricted funds** : represent a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and b) donations or grants received for a specific object or invited by the Ministry Area for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. ## _**Investments**_ Investments held as fixed assets are stated at cost less any provisions for impairment. Investments are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairments are calculated such that the carrying value of the fixed asset investment is the lower of its cost or recoverable amount. Recoverable amount is the higher of its net realisable value and its value in use. ## _**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. 12 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## _**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. ## _**Pension costs**_ The charity operates a defined contribution plan for its employees, under which the Ministry Area pays contributions into a separate entity. Once the contributions have been paid the Ministry Area has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the Ministry Area in independently administered funds. ## _**Operating leases**_ Operating lease payments are recognised as an expense on a straight line basis over the lease term. ## **2. Planned giving** **----- Start of picture text -----**
General Designated Restricted Total
£ £ £ £
Standing Order Planned Giving 14,477 14,477
Gift Aid Envelopes - Occasional 1,238 1,238
Church in Wales - Gift Direct Scheme 108,067 108,067
Other planned giving
Total 123,782 123,782
**----- End of picture text -----**
## **3. Donations** **----- Start of picture text -----**
General Designated Restricted Total
£ £ £ £
Contactless donations 10,522
Open the Book programme
Other 14,365 8,171 22,536
Total 24,887 8,171 33,058
**----- End of picture text -----**
## **4. Legacies** During the year, PMA received £40,259 from the Norman and Freda Jones Trust. Additionally, during the year, PMA received a legacy of £25,000 to be used for the maintenance and repair of St Augustine’s Church. 13 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## **5. Grants** During the year, PMA received the following grants: **----- Start of picture text -----**
General Designated Restricted Total
£ £ £ £
Vale of Glamorgan - Warm Spaces 2,500 2,500
Vale of Glamorgan - Other 1,000 1,000
Strong Communities Grant Fund 33,594 33,594
Total 3,500 37,094
**----- End of picture text -----**
## **6. Money raising** **----- Start of picture text -----**
General Designated Restricted Total
£ £ £ £
Fund raising target: other 7,230 7,230
Fund raising target: Cream teas
Hall Rental Income 57,100 57,100
Magazine/other publication sales 3,459 3,459
Sundry income 9,215 9,215
Cinema income 29,196 29,196
Hire of Church 8,387 8,387
Music at Lunchtime 2,855 2,855
YPML
MA/Parish share rebate 2,026 2,026
Total 119,466 119,466
**----- End of picture text -----**
## **7. Interest** Penarth Ministry Area continues to hold cash reserves with CCLA Investment Management Limited. Interest received during the year from CCLA was £13,043. ## **8. Rental income** PMA received rental income of £10,300 from a residential property in Penarth, owned by the Representative Body of the Church in Wales, but in which PMA retains beneficial financial interest. ## **9. Common Fund** PMA paid a Common Fund contribution of £110,000 to Llandaff Diocese, as a contribution towards the costs of Ministry and Mission across the Diocese. The Common Fund covers (inter alia): - Education, children, young people and safeguarding - Ministry and discipleship and training - Clergy housing repairs and maintenance - Care of churches 14 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ - Grants to support mission and ministry projects - Communication and Engagement - Governance, compliance and stewardship In view of current operating pressures, and the financial loss reported for 2025, PMA has pledged a lower Common Fund contribution to Llandaff Diocese of £114,500 for 2026. ## **10. Clergy expenses** During the year, clergy claimed expenses totalling £4,796. ## **11. General parish expenses** **----- Start of picture text -----**
General Designated Restricted Total
£ £ £ £
Bank charges 361 143 45 549
Telephone/mobile/internet 144 144
Office and general expenditure 2,841 2,841
Administrative staff salaries 29,203 29,203
Professional Fees 6,892 6,892
Independent examination fees 2,100 2,100
Trustee Training and development 924 924
Trustee expenses 219 219
Cinema expenses 15,882 15,882
Admin/Staff HMRC payments 1,757 1,757
Admin/Staff Expenses 70 85 155
Total 60,393 143 130 60,666
**----- End of picture text -----**
## **12. Maintenance of churches** **----- Start of picture text -----**
General Designated Restricted Total
£ £ £ £
Insurance 10,346 10,346
Gas and electricity 44,271 44,271
Water 3,532 3,532
Church repairs and maintenance 66,695 5,158 39,217 111,070
Church cleaning 18,117 18,117
Church operating costs - general 19,689 119 1,150 20,957
Total 162,649 5,277 40,367 208,293
**----- End of picture text -----**
## **13. Common Investment Fund** During the year, Penarth Ministry Area used £100,000 from the sale of 84 Coleridge Avenue to purchase 40,818 shares in the Common Investment Fund, bringing the total holding to 50,372 shares at year end. PMA designated the shares purchased during the year for future strategic projects. At year end, the shares were valued at £2.63, resulting in a total holding of £132,670 15 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ consisting of £107,506 designated for strategic projects and £25,163 for general purposes. The unrealised gains on the designated and general shareholdings during the year were £7,506 and £3,120 respectively. ## **14. Property** PMA retains a beneficial interest in 153 Windsor Road, Penarth. As required by accounting standards, PMA values this property at 31 December 2025 at a prudent net realisable value of £266,000. During the year, PMA sold 84 Coleridge Avenue, realising £452,108 on the sale. This sale produced a surplus on disposal of £2,108, against the balance sheet value of £450,000 for the property. Following disclosures from the Representative Body of the Church in Wales (as noted in the Financial Review on page 6), MAC added the Church Halls to PMA’s balance sheet at a combined value of £1m, as at 31 December 2025. ## **15. Unrestricted cash funds** At 31 December 2025 PMA, held £40,635 in unrestricted general cash funds, and a further £352,108 for future strategic projects. ## **16. Norman and Freda Jones Trust** In 2020, a Trust fund known as the ‘ _Norman and Freda Jones Trust_ ’ was established using proceeds from the estate of a former parishioner. The terms of the Trust direct that it shall be owned by RBCIW as a permanent endowment (hence it does not appear in PMA’s balance sheet), with income from the Trust being paid to All Saints PCC and any successor bodies (now PMA) as beneficiary. The terms of the Trust further direct that income from the Trust should be used by the beneficiary for the benefit of the parish with preference being given to St Peter’s Church. As this is a ‘preference’ rather than a requirement, the PMA Board of Trustees takes the view that income arising from the fund is unrestricted, but has designated the money for the benefit of St Peter’s Church. During 2025, PMA received £40,259 from the Trust and spent £5,277 on maintenance of St Peter’s Church buildings, churchyard and car park. The balance of income from the Trust held by PMA on 31 December was £123,652. ## **17. Restricted cash funds: Current Account** PMA holds restricted funds on deposit with HSBC. The balances of these funds at 31 December 2025 were: 16 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ **----- Start of picture text -----**
Restricted
£
St Peter's 4,670
Piano Fund 1,231
St Dochdwy 2,396
Open the book 2,608
Mollie Evans Bequest 2,000
Pat Morris Bequest 25,000
All Saints 2,000
Other 677
Total 40,582
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- **St Peter’s:** Donation from the Friends of St Peter’s, to be used in discussion for the benefit of St Peter’s Church, in discussion with the Friends of St Peter’s - **Piano Fund:** Fund held for the purpose of maintaining the piano in All Saints Church. - **St Dochdwy:** Fund held for the benefit of St Dochdwy’s Church - **Open the Book:** Fund held to support the ‘Open the Book’ programme, which aims to share Bible stories with school children in a way which is fun, interactive and memorable - **Mollie Evans Bequest:** Received from the estate of Ms Mollie Evans, to be used at MAC discretion for any purposes relating to St Augustine’s - **Pat Morris Bequest:** Received from the estate of Ms Pat Morris, to be used for the maintenance and repair of the fabric of the building and grounds of St Augustine’s Church (with any unexpended balance to be returned to the executors of the estate) - **All Saints:** Donation received in December 2025 for the benefit of All Saints. Future use to be determined in discussion with the donor. ## **18. Restricted cash funds: Investment Account** PMA holds restricted funds on interest bearing deposit with CCLA Investment Managers Limited. The balances of these funds at 31 December 2025 were: **----- Start of picture text -----**
Restricted
£
Youth worker 53,866
St Augustine's Churchyard 3,294
Heather Tylke Bequest 21,310
Music Fund 2,533
Earl of Plymouth Fund 59,367
St Dochdwy's Churchyard 3,705
Total 144,075
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- **Youth Worker:** Fund held for the purposes of recruiting and employing a Children & Young People’s worker 17 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ - **St Augustine’s Churchyard:** Fund held for the purpose of maintaining St Augustine’s churchyard. - **Heather Tylke Bequest:** Donation from the estate of the late Heather Tylke, to be used for the preservation, repair and improvement of the fabric of St Augustine’s Church building - **Music fund:** Fund for choir music, new robes, ad hoc singers and instrumentalists for services if/when required and, more recently, choral bursaries. - **Earl of Plymouth Fund:** Fund donated for the maintenance and development of St Augustine’s Church and Churchyard. Holy Nativity may also benefit from the fund for these purposes. - **St Dochdwy’s Churchyard:** Fund held for the purpose of maintaining St Dochdwy’s churchyard. Funds were used during the year for ground maintenance work. ## **19. Trustees’ remuneration, expenses and benefits** No trustee is employed by the charity. No trustees receive remuneration or other financial benefits from their roles as trustees. During the year, the Board of Trustees entered into contract with one trustee (on a self-employed basis) for the provision of musical expertise, including playing the organ at church services, weddings and funerals. The payments made to this Trustee during the year amount to £4,859. Three trustees (members of the clergy) received expenses relating to their clerical duties totalling £3,200 during the year. ## **20. Employee remuneration** The Charity had three part-time employees during the year. Compensation paid to these employees was in the following bands: £0 - £10,000: 2 employees £10,001 - £20,000: 1 employee ## **21. Payment to Independent Examiner** As at 31 December 2025 Independent Examination fees of £2,100 were accrued in respect of the examination of the 2025 accounts. ## **22. Reserves policy** The Ministry Area aims to always maintain unrestricted current assets (cash minus creditors) of a minimum of £50,000. As at 31 December 2025, unrestricted current assets amounted to £27,197, however the Ministry Area retains a further £526,042 in designated current assets. 18 _Penarth Ministry Area CIO – registered charity 1210418 Trustees’ Report and Accounts 2025_ ## **23. Going concern assessment** As at 31 December 2025, the PMA Board of Trustees assessed the financial position and prospects of Penarth Ministry Area and concluded that the charity remains a Going Concern. In arriving at this conclusion, the Board: - Noted that, at 31 December 2025, PMA had unrestricted cash reserves of c£1.3m - Considered both the general economic climate, and the specific operating and trading environment for the Ministry Area, for a period of at least 12 months from the date on which the 2025 accounts were approved by the Trustees. **Penarth Ministry Area Charitable Incorporated Association** All Saints Church Victoria Square Penarth CF64 3EL Phone: 029 2280 5663 Email: admin@penarthministryarea.com Website: penarthministryarea.com The Charity is registered with the Charity Commission for England and Wales as charity number 1210418. 19