BEULAH UNITED REFORMED CHURCH ACCOUNTS YEAR ENDED 31 DECEMBER 2024 William$ Ross Llmlt•d ch¥ter￿ A¢¢ount•nt• CARDIFF BEULAH UNITED REFORMED CHURCH INFORMATION YEAR ENDED 31 DECEMBER 2024 Prir￿paI Address 86ulah Unlt8d Ref(wmed Churth Beulah Ro￿1 Rhpwbino Cardlff CF14 6LT Tru8t•o8 Mrs Ruth H Williams (Chairl Mts Barbara Rhys (Churth Treasurer) Mr Colin Grimes Mrs Eleri J¢)hn Mr Hadey Jone8 Mrs Fiona R8ynobd8 Bankers CAF Bank Ltd PO Box 280 West Malllng Konl ME194TA Ind8pendonl Examlners VrfIHlam8 Ro83 Llmlted Charternl AcccMJnlants 4 Yny8 BrKlge Court Gw8ek)d Y Garlh Card CF15 9SS Chwty Name Beulah UThtéd Reformod Churth Charfjty RegL8tr•llC￿ No. BEULAH UNITED REFORMED CHURCH INDEX TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 Annual Report Independent Examinerfs Report Slalèment ol FinancA•I Adiwtle8 B￿an¢t Sheet Notes lo th¢ Amints 7-11 Detalled Incm Stslemenl- G￿￿ra1 Fund 12 Dotai18d Exponso Staternnt- G9neral FuThJ 13 008ign•tgd FL￿d8. Movement kn Yoar 14 R8strlctod Funth- Mov8ment n Y 15 BEULAH UNITED REFORMED CHURCH ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The trusteos ara plgased lo prosent Ihelr annual r8r*xt and accounts of the chaiity for the year 8nd&J 31 Decembgr 2024. The acthints have been propar8d in ac(x)rd8nca wilh Ihe acco￿tIng Folic¥e8 88t out In thè notes lo the accounts and comply with the charity's govemlng dowment. the Charltl8s Act 2011 Acc*)unting and Roporting by charit￿$.. Stalemont ol Re¢ommende(I Pradce 8Wuble to charities prep8riThJ their a¢¢wnts in accordance wilh th8 Financlal Re[￿rtIng Stsnliard applieable in the UK and Repubkc of Ireland published on 16 July 2014. Tr•uur•rf8 R•¥i•w ofth• Y•ar Expenditur& has exceeded income agaln Ihls year bul al a far lower level than had been ￿tI￿Pate¢l. This Is dug in some mèasure to the fact that we were not abl• to cary out the major works required on the Church nor dld we carry out any work on the Man88, amhough bolh had been highlighted in the budget for tho year. However, a lol of imFQrtanl repalr 8nd rnainlen8nce work has been completed aloryshje the routine jobs. This Includes.. the new kttèring on the Canollan,. 8 now nots'c*board outskJ& the Church.. o numbgr of new wlndow6 in the Canolfan elc. We 8150 purchasfjd new stacking chalrs for the Canc4fan' a now laptop ft>r the Church Secretary and rgplacod ong of wr Llnot hol water ￿1￿18. Having installed new oquSpmonl la81 year, wg commenced a programm8 of free community film slThYs for chlldren once a month. Thls wlll bé conllnuirvJ into 2025. To 8Sd th18, w• kn¥tslle(I new trAackout blinds. From O Aprfl. new kigi$181ion meant that we hav• to s•paAt• wr waste for rg¢ydlng purposes and mn¥y had to be spent on new recycling containors insldo wr buildiws and l¥)uslng for the r￿W bin8 provkJed by the Council. A long battb wilh the Coundl gnsued lo onab19 us lo have free hou8ohold coU8ctsons. to whlch we warè entitled, as opposed to chargèd lor Gollocb"ons as baf￿8. Th18 culmlnotod in a surxes8ful oulcome 88 from mid October. The Canolfan wnlnues io attraci a low n8w dasses as wdl as our lortrstandiry groups. Unfortunataly, Aduli Educatton have moved Ihelr language dasses to another Sllè, but their yog8 and art dasses have remained wmh u8. Wo have managed lo hdd our rents1$ at the same level throughout Ihe yoar havo added a slhJhl Increase lor onewoff ovonts and uwj. We also conlnue to offer fre8 w to olher charht88 and groups. We 8ro SWII holdSng very popular lunththm t*Jrwts vthkh hgve been 8ell4ust8inirvJ, paruy due lo two generovs donotions. Durfng th8 earfy port of the year we r8n the Whittaker Loun￿ as a Sp8ce offerf $¢)me free drinks. Th Lounge Is 5 days a vfftk in ts momlro8 and has become a havan for 8 lol of regular user8. Durfng the y8ar we set up an Organ Fund as ￿Jr ￿rIen1 organ wll neèd r6pLadng in tr18 not loo disknt future. and wlh 8 combinats'on of bequests. donattons and fvjndraising this now stands at £17,052.87. We have also been ab￿ to continue fvr¥Jraislng events Ihrough KIN. I￿r outreach arm. i￿luding donalions to UNICEF, MSF UK. Gaza through the URC Commmment I￿ Lrfe s(theme. and to local d￿rit￿$. We contlnue to 81rSve to be an ECO Chuwrh wilh our ECO group w)rking towards a possilAo Gold Award and the Canolfan has been granted a Green Flag Community Award for the 3rd year running. Althouth our Commiited Glvlng wa8 sligmy (hm on18St year. ¢)ur GWI has increased by c. £1,000.00. Our Investrnonts are secum and have Increased consKlerably dudro the year. The Flnance Ccrfnrnittee and l. wlsh lo thank member5 and friends for their gengroslty, as a￿aYS. vthich has helped us lo once again fulfil our o)mmitmenl to both the Ministy and Mission Fund and to Syn(*J. My personal thanks lo Y￿ 811 for your continued encoLragement aThJ support aThJ 85pecaalty to the members of the Finance Committee. BEULAH UNITED REFORMED CHURCH ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Summartslng the funds the year. General Fund De619natod Funds Total 441.377 463.412 Whll8t the general fuThJ is at a reasonable Iml. M Is fe￿ Ihat 8uch funds coukl b8 called upon In coming y88r8 given the ever increaslng costs that wll n88d to bè rnet. Maln ObJ•cts To foster and financo the rellgityJ¥ ond charllablo oLiedNes of the Churd). Canxtitutlon Beulah United Refonned is a momber ofthe Wales Synod of thè Unitod Refom)ed Chufch IURC) b&ing th8 URC as dofined in t￿ URC Acl 1972 and now a NatM)nd Synod a8 am8ndod by th8 URC Act 2000. Publlc B•n•flt St•t•ment Tho Iruslees are aware of the Charlty Commlssffi's guld8nce on public ￿nefft in The Advancoment of Rellolon for the Public Benefif and has reoard to it in the admlnistr81ion of the Church. They t*llevo that the Church prnvkle8 benafrt lo the pU￿1C ty. provlding rgsources and 18ciliUes for publlc worship. pasloral care an¢J spbrltual. n￿ra1 ond intellectual developThnl both lor Ihg Cor￿￿atIOn and lor 0180 vA)o ￿h0$ to benèfit from what the Churc** offery. promotlng Chrl8118n valués and sepAce by rnfj￿ of tho congrtigatsw lo the corrffiunlty, for tho benefli of Indivlduals 8rKI soc￿tY as a whole. R•••rv•8 Polley The general fund resfjrves policy Is lo pNdent ￿•15 of lundirs to malntain the rellglou8 and charftabl8 wort of the Church. AS detailed in nol8 l above, the total b4l•nce he￿3 In urrn6trfjd8d funds a8 at the balance shegl date was £464,48412023- £467.984}. Th18 afrK>unl is held to oover for flnandal corTKnilments that th8 churd) will have to meet in Ihg future Including. specfftelly, church aThJ manse m8inlenance. Budgets are pr8partrJ eath year with actual kncomg and expenditurn being monltored againsl the Tr￿dgets. Inv•strnonl Poll¢y and P•rformance Thg Inveslmenl F<*licy i¥ IM￿&M8n10d by the Finance Commlttee. The Commfttee c£￿81d81S thè most appropriat8 pollcy for investing lunds and has found that speci￿l$ed equity. fixed Snlerest and goYemm8nt stock Snvestmenl, •YesKJned for the charity seck¥, me•ts th8 roquirwnents to gen8rat8 both income capital For the year under rpview thgro was a nel unrealised gain on revaluation arrw)unling to £15.23712023- over￿1 revaluation galn of £22,350). These galns are In Iln¢ gener81 stock market movoments for the year undgr review. The investment pollcy Is LFfKler review in order to ty lo maintain the drfficutt balanca in lodavs economlc smuab'on of seeking lo miligale knsses as far as FOSSIb￿ in th& future whil¥l attempting to obtaln the besl income and capltal growlh lo supwt church's main object$. BEULAH UNrrED REFORMED CHURCH ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Rlsk Managem•nt Poll¢y The consideration of financial rtsk is undertaken by tr* Finance Commitlee. Olher risk 888V88m8nts are undertaken by Eldar5, Heatth and Safety GTCWP and Prenwses Management Commrttee. The major polenti0I finan¢ial risks which could arlse are I￿ns￿le[8d lo be in ￿latIon to unexkwtsd sNJnificanl loss of incornè or unbudgetod expenditure together *ith polenlial k)sses on church invest￿nIs. Non finanual risk areas would indude flre risk. hoatth & safety Issuos etG. Re¥￿w8 have been carried out lo assess risk$ in certawi areas of oporntion and it is int8ndod that further reviews are undertaken to Fyovide a coMp￿hens￿e asses$m•nt of potanlial koy risk aieas and lo onsure that rel8vanl procedures pul In place lo mrkngate those risks. Rolat•d Partl•* No trusl88s recelvèd any rèmLn8rakn'on or othtr rg(wponse from th8 Church In thelr capacty as tru5198S. statsm•nl of Truit¢•s' R•spon*lbllltl•s The Flnance Commlttè6. ore tnAlee8 for Ihe purposes of chartty law. aro responslbkn for tho preparallon of the accounts for 08ch fin8nc4al year whlch give a truè and fair ￿eW ol churth's stste of affa1￿ 88 81 the balance Sheol dale and of Its finan¢i81 activitie5 for thal perfv)d. In prep8rNry those accounts the trust0￿ ore requlred to= select sullable accounl¥w policw and then appty th•m CA￿t$lenty. make judgements and estimates Ihal are rgasonable and prudent.. Slate whelhof appllcable aeLounting sland8rds have bèen folk)w8d, subjèct 10 any malerial departuros dl8dos8d and explained In tho accounts; Prèpare th9 8ccounts on a gcing ￿ncern basly unless tt18 inapwopriate to presume that the Ch￿￿h will conllnue lo opor81e. Thg Flnance Commltteo ore r08pon8lble for kogplng wcyr actounvng records whlch dl$dose, whh re8sonabl8 accuracy, al any lime the church's finèncial position and enable tham lo ensure that thè accounts ompty with the Charities Act 2011. They are also responsibl8 for safeguar investments 15.237 13.175) 1S237 P2.035> 22,350 Nèt Incom• l {•xpendltur•} 18,535 325 TMsfer5 belwegn fvnds N•t movement In lund¥ 13,175) 122.0351 18.535 325 44.004 Re¢onclllatlon of lund* Balances at beginring of year 475,428 463.412 4,572 431,424 Balan￿$ at •nd of y•ar 472,253 441,377 23.107 7,769 475.428 BEULAH UNITED REFORMED CHURCH BALANCE SHEEr 31 DECEMBER 2024 Note 2024 2023 FIXED ASSETS Tangible assets Investrnents 18,209 298.288 316,497 19.767 283 052 302.819 NET CURRENT ASSETS Debtors COIF Dfjpo811 accthnt Cash in bar* 6.119 166,639 136.639 25.5LKI 163.708 179.864 LESS: CURRENT UABILrriES NEf CURRENT ASSETS 155,756 172.609 TOTAL NEf ASSETS 475.428 R8prssgnllng FUNDS General fund Designated funds Restricted ftjnds 441,377 23.107 7.769 472 253 463.412 4,572 TOTAL FUNDS 475 428 Approved by the ffinan¢o r￿MIllee on ....... . and signed ￿ thelr behalf b￿. Ruth H Wllliams- Chair Bartwa A Rh￿- Treasurer BEULAH UNITED REFORMED CHURCH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES The accounts have been prepared in accordance *Ath Accounting aTrJ Reportlng by Chwitles: Slatement of Recommended Practice 8pplic8ble lo d*rities preparing their accounts In acLx)rdance with the Financial Reporting Standard applicab￿ in th? UK and Republic of Irekrynd {FRS 1021 leffective 1 January 20151- ICharttle8 SORP {FRS 10211, the Financbal ReFthng Standard opplicable in the UK 8ThJ Republic of Ir8land IFRS 1021. The parlicular a￿inton9 pdldès WJ aro dO6￿bed below. a) Don•llons Donations awe aC￿)unted for gro88 received. b) L•gacl•• Lggacles are acwuntsd wthen thelr roceipt18 ￿rtain can be proptrty quantrfigd. ¢) Inv•stm•nt Inc¢Mn• Investm8nl income is Included In th• acCA￿nts in the year kn T*hlth H lg rgcelvable. d) Grants p•y•bl• Tho Church makes grants to other org8nisations vth058 charitable ob￿cts complgrnw￿ it8 work. They are accountèd lor in Ihe year in whK* 4r0 ￿ld. e) Cla••lflcatlon of fund• Fund5 a￿ classrf*d accordlry to the manner in which thgy aT8 to b8 spent. The Genor81 Fund dea wlth funds thal can be spent generalty for lurlhgrlro the rnlKJious and dwrita￿e work of th6 church. Deslgnaled fiJrKI8 aro funds whkh have boon ¥el aslde for ydfic purpows but whlch can b8 mlumèd to Ihg Genwal Fund a18ny Imo il Church meet￿ 80 d8udu. R88trfct•d fvnds are funds whoso 115915 r8strlc¢gd accordlng ￿ tho1•rn8 on v#hlch they were fOcelve(I; for example, cdlectrons for Spo¢￿1¢ ¢au888, or PfopertS98 Ihe proceod8 of 8 8#1è of urml be u88d without the approval of URC Synod for Wa￿. Tanglbl• flx•d assets Thè church buildings, arKI ffixtur￿ ￿¥j ffttirwJ6 con8wJorod to bg an Integral part of th8 buildlng. together wlth the mans8. are nol cawtalised in the accounts as the benefiual ¢xThTship of the 888ets rests wbth th8 URC Iwalesl Trust Co Ltd. Details of approxinate rnarket value. or f8lllng that. insurance ￿Vfrr valueg are Sèt tsjt in Nolg 2 {b) of the aecounts. Other flxed ass6ts arn ststgd at estlmted markot voluo or f))sL ex￿pt that itgm8 cosWng less than £250 are WTitten off in the year of purchas&. Dewecaation 15 c*ulated al the fOlk￿r¥J pe￿ntageS Cll cost t￿ valua￿n.. Solar panels Church Improve￿nts Office eq￿kN￿ent - 10% straight ￿ne - 5% slralght line - 10% slrnluhl line gl Investments Investments are statsd at tsr ma￿1 valu8 as at lh8 balance sheet date. BEULAH UNITED REFORMED CHURCH NOTES TO THE ACCOUNTS (comlnu•d) YEAR ENDED 31 De¢EhlBER 2024 2 TANGIBLE FIXED ASSETS Totsl Cost or v•luatlon At 1 Jawary 2024 12.724 23,651 14.502 50.877 A1 Unr•$trlct•d - G•n•r•l Fund 18209 298,288 124.880 441.377 Deslgnatod Funds: 8wJLqh tots 100 4,498 159 456 17,053 1122} 4.498 Hollday gan l￿d P¥r¥dw• run Pastoral expen￿9 W8m Ss)ac•s Youth 4SS 17.053 {122 913 913 23.107 23.107 RMtrl¢tsd- Kl.N. 7.789 7,769 18.209 155.7&8 472,253 Summ*ry ol th• abov• Unrnthcled General De51analed 18209 298.288 124.8 441.377 23.107 23,107 7.709 7,769 472 155 756 ￿53 Restrlcl•d 10- BEULAH UNITED REFORMED CHURCH NOTES TO THE ACCOUNTS Iconllnued) YEAR ENDED 31 DECEMBER 2024 11 DETAILED BREAKDOWN OF COMPARATIVE INCOME AND EXPENDmJRE- YEAR ENDED 31 DECEMBER 2023 Totsl Fund• Uthrn•trlc￿ Fund Genernl D•Jlgnat•d R••trlct•d Fund¥ INCOME Charltable Acllvlll•8 Committed offgfings Loose collectlons Junior Cfvjrch offeriros Gift Ald tax reclaim Fund ratsing Other donations I loan¥ Sundry Income Inv•8tm•nl Incom• Interest (all accounts) Tradlng In¢om• Counter R•c*ipts Oth•r Incom• Use of preml8e8 Grants rgGeiYable 53.993 1,539 53,993 1,539 12.718 9.709 38.921 6,420 12,718 4.912 189 4.797 38,732 6.420 11.141 11,141 3.463 3.463 42,293 42.293 Tot•1 In¢omlng r••ourc•• 180.200 170.302 5,101 4,797 EXPENDITURE Costs of Raljlng Funds Supplios and dS1ocl cos18 Charltabl• Actmlhs M & M Conlrlbullon Ministy Promlses c08ts charitab￿ dona11ry15 Other oulgolngs Independent Examlnefs fe8 Totsl r•sourwJ u¥•d 11.895 3.742 8.153 66.720 7,861 41.455 17.566 12,029 1,020 86,720 7,861 41.455 17,566 12,029 1,020 158.546 17,566 Ng1 gains (losses) on Inveslm6r N•t In¢omo 1 {•xpendltuw• 22.350 59.825 (3.052) 112,769 Transfers funds N•t P•lov•m•nt In Fund• 1,726 (1.326) 44,004 (12,769) R•conclllatlon of fvnd¥ Balances at beginning of year 431.424 405.313 5,898 20,213 Balances at end ol y•ar 475.428 463,412 4.572 Thls page is induded as a reqU￿rnent of crnnl axounling standards. It giv85 a detslod breakdown of the prior year income and eVr￿lture as shown in summary on the SOFA on page 5. BEULAH UNITED REFORMED CHURCH GENERAL FUND- Detailed Incoming R•sourc•s and Resufts YEAR ENDED 31 DECEIABER 2024 Actual 2023 Actual 2024 Budg 2024 NCOMING RESOURCES Commltted offerfngs Loose Collecltons Junior Churth offerir¥Js Glft Ald 53.993 1,539 53.641 1,451 55,000 1,500 12,718 68.253 13.TT3 13,000 69,5 Use of Preml¥es: Mans Outsldo lettlngs 13.536 28.757 42.293 13,536 31.132 44,668 13.536 33.C4)0 46,536 Int6r88t on A¢¢ounl8.' Bank Interest {indudity Deposit ￿¢) Investmonts 8,896 4.245 11,141 6.742 4.974 11.718 5.000 4,500 9,$00 Other Incom8: Mlnlsters expen808 rnimbursement Mans8 expense8 feimbur6ement Bequests Donatlons Woddings & FU￿ra1$ Solar pane18 Prfv818 pholocopying I sundry Incx)me 2,984 3,436 3,710 2.000 5.000 250 2.000 2,000 500 15,480. 30.WJ S.S90 2.000 1.545 3,142 2.277 12,737 21.995 45.152 Whlttaker Lounge: ￿￿ntor receipts 3.463 4.072 4,0 Totsl Incomlng R•sour 170,302 151.316 144,0 D•du¢t: Resources Used fp898 13) Net In￿rnIng Rosources (132,8271 37.475 {188.5881 137.2721 (225,821} {80.825} Transfer Itoyfrom DesvJnated Fw Revaluation Surplus I Idefidti 11,726) 22.350 1S.237 Balance at beglnning of year Balance at end of y•ar 405,313 463.412 463,412 382.587 441,377 12- BEULAH UNITED REFORMED CHURCH GENERAL FUND - Datal￿d Resour￿ Usod YEAR ENDED 31 DECEMBER 2024 Actual 2023 Actual 2024 Bydg91 2024 Mlnlstry: M&MFund Mlnlstews eyn8e8 (n8t} Pulplt supply 66,720 7,847 14 70.056 14.519 70,056 7,000 220 77.276 74,581 84.575 Pr•mlios Costs- Church & C•noll•n: Cleaning and caretaking Repalr8 and malntanancè H8at ond light. water, telephon• Insurance (Church & CaTh)Ifan 8eulah) Fumllurè and *Julpmor)t 13.655 2.935 13.093 4.578 14,054 19.805 14.009 13,424 15.CQO 40,000 14,000 21,000 95,000 34.819 61.292 Pr•mls•s Costs- Mans•: Repairs and maintenanc• Insurance I Councll T8x I Wator 6.120 516 25.￿0 570 25,570 579 2,461 Whlttaker Loung•.' Suppli88 Fumilure and equlpmenl Repairn and mainlen4rKg Refurblshmenl 3,742 4.631 3,000 1,000 200 3,742 4,631 Oth•r Exp•ns••: Organ, plano, music gtr. Worshlp materlal Publicty Tralnlng ChLErch office 8nd secretarfs expenses Booking5 rnanagef B8nk ar4J Aecounloncy charges Children's & Youth Work Ilnc Junior ChuNth) Young p6r8on's traval fund Art projeds Garden Pastorate manse exponsas Payment to URC (Wale5) T￿￿t Sundry expenses Pastoral expenses DepreCIa￿¢)n 1.713 2,533 813 800 250 200 3.01)0 5,000 1,300 2.0 760 2,381 1.250 1.148 1,194 1,040 2.781 5,174 100 675 1,774 15,792 1,558 13,049 TOTAL RESOURCES USED (topage 12) 225 821 13- BEULAH UNITED REFORMED CHURCH DESIGNATED FUNDS - Detall•d Mov•m•nts In Y￿r YEAR ENDED 31 DECEMBER 2024 P••tsrnl Fdlow*l4p Club 114COMING RESOURCES Donations Fund Raising i fickel Sa TOTAL 19 108 127 8,547 8.547 19 8,547 8.674 RESOURCES USED Art¢sVs Fees l Arh¥ork Suppll8S TOTAL 6,689 6.689 503 122 190 133 122 190 133 6,889 7.192 Resources before Transfers 1122) 139} {1901 {25) 1.858 1.482 Transfor ol Net Resourc8s (after trar￿fer8) (122) 139) {1W) 12S) 1.858 1.482 Revaluat6on surpluses Idofic4ts1 Balance at be9lnnln9 of year 8al•nu •t •nd of y••r 172 1.103 2.640 4.594 159 913 Pw•dkn• T¢tsl 20 Tgtsl 2023 Tol• Ory•n FuThl INCOMING RESOURCE3 DonatK)n$ Fund Ralsiro l Tlck81 S8198 TOTAL 17,053 17,180 8,547 189 4,912 17,053 25.727 5.101 RESOURCES USED DOna￿On$ Artlst's Fèès l Art4￿￿ Supplies TOTAL 6,689 503 6,276 1,877 7.192 8,153 Resources before Transfers 17.053 18,535 {3,0521 Transfer of Fund8 1,726 {1,3261 Net Resources (after trarthr¥l Balan¢9 at beginning of ye8r Bal•nu at end of y••r 17,053 18,535 122 100 5,898 122 100 -14- BEULAH UNITED REFORMED CHURCH RESTRICTED FUNDS- D•tall•d Movoments In Y•ar YEAR ENDED 31 DECEMBER 2024 K.l.N. 2023 INCOMING RESOURCES Bequest Fund Ralslng 6,859 4.797 6,859 4,797 RESOURCES USED char￿9$ 6,534 17.566 TOTAL 6,534 17,566 R8sources before Tr8nsftrs Transfer of Funds 325 {12.7891 Net Rgsource¥ {after transfers) 325 {12.7691 Rèvaluallon swplu888 IdefKAts} Bal8nce at beginning of yèar 20,213 8•l•n¢e at •nd of y•*r 15-