Comp8Try registration number: 110542668
Charity regi5tratioD number.. 246126
D. F. and M. Welsh Baptist Corporation
(A Company limited by share capital)
Annual Report and Financial Statem¢nts
for the Yesr Ended 31 March 2024
Aston Hughes Ltd
for and on behalf of Aston Hughes Ltd
Selby Towers
29 Princes Drive
Colwyn Bay
North Wa1¢5
LL29 8PE

D. F. and M. WeL8h Baptist Coryorydtion
Contents
Reference and Adtninistrative Details
Tn￿te¢s, Re￿rt
2to4
Ind¢p¢nd¢nt Examinels Report
5t06
Statement of Financial Activitles
7t08
Balan¢e She
Notes to the Firtanciai Statemertts
IOto21

D. F. and M. Webh Baptist Corporation
Referenee and Administrative Details
Trustees
14.W. Jone5
rERLloyd
Mr A Williams
Setrelary
Mr A Williams
Charity Registrntion Nurnber
246126
Comp*lly Reglstritlon Nwnber
00542668
The ¢tMrity is incotporakd in En￿d and Wal￿.
Aston Hu8he5 Ltd
Selby Towcrs
29 Princes Drive
Colwyn Bay
North Wales
LL29 8PE
Indepettdtnt ExAthitseTS
Solicitors:
GHP l*gai
26-30 Grosvellor Rowl
Wrexham
North Wales
LLII IBU
B#uk¢rs
Barclays Bank PIC
84 M05tyn Street
Llandudno
LL30 2SH
Pag¢ I

D. F. and K Welsh Baptist Corporation
Trustees. Report
The trustees, who are directors for the purposes of company law, pre$￿t the annual report together with the
fi￿￿tIal Statements and auditors, report of the charitable eompany for the year ended 31 Marth 2024.
Mrs H.W. Jones
MrER Lltsyd
Mr A Williams
MrTRlfan
Obj¢¢tiv¢$ •nd 8ttivities
Objeets #nd oims
The Corporation wa5 e5tabtished to promote the intertst of the Denbigh, Flint and Merioneth A580cialion of
W¢l$h BaptLSt Churches.
ObJeeaveJ, straletha aOivi&
The policie5 whtch have been adopted in order to fiJrth¢r the above objectives are to inV￿t the monies of the
CorrA)ration not immediately required for its Put￿SeS in or upon such inv#lments, securities or property as may
be thoughi fJL but 50 that money5 subject to or representlll8 property subject to jurisdi¢tion of the Charity
Comtnissioners for Euglwnd and Wales shwll only be inv¢5t¢d in sudk securities with such sanction (if any)
as may for the time being be prescribed by14w.
The Corp)ration rorttioued to ￿lld the employment of Parchedi8 Tecw Rlrys Ifan, W￿￿'S work also includes
Yarious projects which ￿ intended ￿ promote Baptist values.
PMhli¢ buefit
The trustees ¢onfitm that th¢y have complied with the requirements of sectiot) 17 of the CIMrities Act 2011 to
have due regard to the pubLi¢ ben¢fit guidan¢¢ publish¢d by th¢ Charity com￿10￿ forEngland and Wales.
Grant maknngpolicles
The Corporatioii re¢eivin8 8fdnt applications frorn Chapel's in the region the decision to awaftl grants to these
applications ar¢ mad¢ at the truste¢5' bi-annual meetings.
Use of volunlee
Ail of th¢ Council rnerttber and offL¢¢rs of th¢ Coryordtion wipaid vollmteers.
Aehiev¢m¢nts perfonnanee
Investment income has improved over the last 12 with Bank of England bw rate in¢reas¢s Tefl¢¢¢ed in
bigher rettwns on ￿$h balan¢es h¢ld on d¢posit acwunts. Dividend retunjs have also improved be¢ause of
itnprovts wmpany profits.
P48¢ 2

D. F. and M. Welsh Baptist Corpornlion
Trn$tees' Report
FinanfiAI review
The corporation continues to hold the bulk of its assets ID wh, and this will cot)tinu¢.
Total fvnds held at the reporting date wcre:
- Unrestricted f￿d& £703,044
- Restricted funds £307,035
Pt)Ilq on reseryeJ
The Or84nisation holds sufficiem unrestricted futlds to 5ervi¢¢ the ongoing wuirements for the fores¢¢abl¢
future.
IhVotn￿TrlP￿IicY r¥ndobJe(thes
The Tn]stees review investmtrtt PErformance on an annual basis. The Corporation tskes a low risk apprnR¢h
investm¢nts. Rewms OA cash investments h&s improved over th¢ la51 12 tnonths with Bank of England base JBte
tn¢reases refiected in higher returns on ¢wh ba]an¢e8 held on derA>sit accounts.
To minimise the risk of ¢apitsl d¢valuation the organi5ation invest in seaye ¢ash deposits. this reduces the
potential yield, however the organisation review the detx)sits on a regular basis to ensu￿ they are obtaining th¢
best re￿rn from the PTodu¢ts utilised.
Stru¢lur6 goveruallce and m8n*zement
Nathre ofgoverninz document
The Corporation 1$ a ￿MpanY limit¢d by guardntee and is governed by its memorandum and articles of
association.
Recnilim¢ni tindappointmenloftr451eeJ
New tnW¢es are nomitthd b&8ed on candidatcs cxperience and voted in at the AGM.
Organtsadomdlslrnethrt
The Corporation is govemed by its CouE]cil wty) m¢¢t annudty, but may be called at any tim¢ should 1¢ be
deemed necessary. Th¢ running ofthe CorpoTation is delegated to its Chainw Secretary and Tr¢psur¢r.
Mojorrtsks ofthfAve rlskn
The organisation in¢om¢ is dependent on the rate of interest available, in order to mt¥imi5e the level of income
the trustees r¢view th¢ accounts available kn the organisation on a regular basis. To preserve the funds of thc
organi5ation any regular grnhts are litlked to the level of interest received irt the perio
Statement of truytee4' T￿Ponsibl1]tieS
The trustees (who are also the directors of D. F. and M. W¢lsh Baptist CoTpofdtion for the purposes of company
lawl are responsiThle for preparing the trustees, report and the financial statements in aecordanee with appli¢abl¢
law and United KiDgdom Accounting StaDdard$ (Unit¢d Kingdom Genera]ly Accepted Accounting Pwti£¢X
including FRS 102 'The Financial Rq>orting Standard applicabl¢ in the 9￿d Republic of Ir¢land"
Page 3

D. F. And M. Webb Baptist Corporation
Trustee8' Report
Company low requires the twsttts to p￿pa￿ finan¢ial statements for ¢a¢h firtan¢ial year. Under company law
the trusttts must not approve the financial statements unless th¢y are satisfied that th¢y give a tru¢ and fair view
of the statc of affairs of the charitable company and of the incomin8 resources and application of resouwes,
includin8 its income and expenditur< of the chtritablc eompany for that period. In preparing these financial
statements, the ttustees are required to..
5¢1ect suitable accounting policies atLd apply them ¢onsis*#ily'
obs¢rve th¢ methods 8nd principles in the Charities SORP..
make judgtments and estIll￿t¢S tbat are rea50nablE arld prud¢nL
slale wh¢th¢r applicable acwuTh¢ing 5tand8rds. Comprisrng FRS 102 have been followed, subject to any
material d¢p4rtures di5¢105ed 4nd ¢xplain¢d in the financi￿ stst¢men¢5,' and
prepare the financial statcrnents on the 8OLng concern knis uThlc5S It 15 inappropriate to presume that the
charitable mmpany will ontinu¢ in busine5S.
Th¢ lrnst¢¢s are r¢sponsibl¢ for k¢¢ping proper accounting records that can disclose with reasonable xcurdcy at
ny titn¢ the f￿ancial position of th¢ cFwitabl¢ wtnpany 8￿d enable them to ensure that the fthatKi21 statements
comply with the Companie5 Act 21)06. They are a150 r¢5ponsiblc for 5&feguarding thc 455¢ts 0( the ¢haritRbl¢
¢ompany and henee for takiEhg reasonable steps for the prevethion attd deteetion of fraud and other ittegularities.
The ttu$¢e¢s are responsible for th¢ rnatntellance and integrity of the corporate and financial informatL4)n
in¢lud¢d on the ¢haritabl¢ ¢ompathy's websit¢. Legislation governing the preparation and dissemination of
financia] statemcnts may differ frorn legislation in other jurisdiciions.
The &t￿U#l report was approved by the trustees of the Charity on 8 May 2024 and signed on its behalf by:
Mrs H.W. Jones
Trust¢¢
PAge 4

D. F. and M. Welsh Baptist Corporgtion
Independent Examiner's Report to the trustees of D. F. and M. Welsh Baptist
Corporation ('the Company,)
I rep)rt to thc charity tru5tecs on rny exarnination of the accounts of the Company for th¢ year ¢lld¢d 3 1 .lrfar¢h
2024.
Responslbffilid¢$ and Imsls of r¢port
As the ¢hariry's trustees of the Compatty (and also it5 director5 for th¢ PUTPQS¢S of ￿MpanY law) you
re5pon5ibl¢ for the prepardtion of the accounts in accordance with the r4uirem¢nts of the Companies Act 2006
{'the 2006 AL*').
Having satisfied myself that the accounts of ihe C<)mpany are not required tr¥ be &￿jIted und¢r Part 16 of the
2006 Act and are eligible for independellt examination. I report in respect of my ¢xaminalion of your charity's
accounts ￿ caITLed out under section 145 of th¢ Chariti¢s Act 2011 ('the 2011 Act.). In ￿Ing out my
examination I have followed the Directions given by the Charity Commission under section 145(5Xb) of the
2011 Act.
Independent examiner'g ststetnent
Since th¢ C¢)mp4nl$ gr05s in¢om¢ ex¢¢¢d¢d £250,000 your examiner must be a member of & i*)dy listed in
sectton 145 of the 2011 Act I confirni that 1am qualified to underrake the examination because T am a tnember
of Charter¢d Acrthntsnts, which is one of the listed bodies.
I have completed my exatnination. I conflnn that no matters have coJn¢ to my att¢n¢ion in connection with the
examiDation giving me cause to believ¢..
l. accounting records were not kept in resp¢¢t of D. F. and M. Welsh Baptist Corporation as ￿qUired by
s¢rtion 386 of the 2006 Act. or
2. the a¢wunts do not a¢¢ord with those records. or
3. th¢ ￿￿Ounts do not wmply with th¢ ￿CoUnting requirements of se¢tion 396 of the 2006 A¢t other thall
any requir¢mertt that the ac¢ounts giY¢ a'tr￿ and fair view, which 15 not a matter considered part of an
independent examinatton- or
4. the accounts have not been prepared in accordanc¢ with the methods and prin¢ipl¢s of the Stat¢m¢nt of
Rewmmettd¢d Practic¢ for aw)unting at)d ￿pOrting by GhATiti¢5 lapplicable to charities preparing their
a¢wunts in accordan¢¢ with the Financial REPOrting Standard applicable in the UK and Republic of
Iyeland (FRS 102)].
I have no concerns and have come across no other matters in cor￿ethi0n with the examination to which attention
shoul
drawi in this report in ord¢r ¢0 ¢nable a proper understanding of the a¢¢ounts to be reached.
Ir GarethLowe Bsc ACA
r ond on b¢half ofAston Hu8h¢s Ltd
art¢red Accountants
Se
by Towers
29 Prin¢¢s Drive
Colvyn Bay
North Wales
LL29 8PE
PAge 5

D. F. and K Welsh Baptist Corporr4tion
Independellt Examiner's Report to the trustee5 of D. F. and M. Webh Baptist
CorporatlOD {'the Company,)
Pag¢ 6

D. F. and M. Welsh Baptist Corporation
Statemcnt of Fingncial Activities for the Year Ended 31 March 2024
(Including Ineome aDd Expenditure Aecount and Statement of Total Recognised Gains
and Losses)
Tot•1
2024
Total
2023
UDre8tri£ted
Restrlded
Note
tncome aDd EDdowments from:
Dottatiolls and legacies
Investment income
249.888
7.596
249.888
11,317
3,721
2,686
Tots] Ittcome
257,484
3,721
261,205
2.686
Exp¢ndi¢ure on:
Char%table aetivities
30.063)
(30.063)
(25.149)
Total Expellditure
Net in¢omel(exp¢nditure)
30,063)
(30,063
25,149
227,421
3.721
231,142
(22,463
let movement in fiu
227,421
3.721
231.142
(22.463)
Re¢oDciliation of fun
Total funds brought forward
Totsl fimds wried fotwnl
475.623
303.314
778.937
801,401
14
703,044
307.035
1,010,079
778,938
The notes on pages 10 to 21 forni an int¢gral part of thes¢ finan¢ia] stat¢m¢nts.
Page 7

D. F. And K Welsh Baplist Corporation
Statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and IMses)
iinres¢rlrt•J
funds
Restrlcted
fuDds
Total
2023
Investment income
2,075
2,686
Total income
2.075
2.686
Exp¢ndi¢ure on:
Charitable activities
25.149)
25,149)
Total expenditurc
Net {expenditLW¢)fllKome
25.149
{25.149
23.074
611
22,4631
Net movement in fund8
{23.074)
611
(22.463)
Re¢oMelli*iioll of fu￿d9
Total funds brought fonvard
498.698
302 703
801,401
Tolal f¢u]d8 Carried forward
14
475.624
303.314
778,93S
All of the charity's activitie5 derive from continuÈng operations during the above iwo periods.
The fvniLs breakdown for 2023 15 shown in note 14.
The notes on pages 10 to 21 fomi an Integr￿ part of these finartcial Atatcfflet￿.
Pag¢ 8

D. F. and M. Welsh Baptist Corporation
(Registration number: 00542668)
Balance Sheet as at 31 March 2024
21124
2023
Flxed assets
Lnvc5tments
55.432
55.421
Current a55ets
Cash at bank and in hand
12
956,823
725,693
Creditors.. Amounts fallthg due wIthS￿ one year
13
2,176)
2,176)
,Y¢t current assets
954,647
723,517
et u$ets
1,010,079
775,938
Funds of the ebarity..
Elldowment fvnds
22.493
22.493
Restricted iDCOmt funth
R¢strict¢d funds
14
284.541
280,821
Unrestricted iTr¢ome funds
ut￿eStrIl%ed fvnds
703,045
475,624
Total funds
14
1,010.079
778,938
For the finaDGial year ending 31 March 2024 thc Charity cntitlcd to excmption from audit under section 477
of the Companies Act 2006 relating to small eomphnies.
Directors. r¢sp)n3ibiliti¢s.'
The members bave nol required the charity to obtsin all audit of its accounts for the year in questLOD in
accordance with section 476.. and
The dire¢tors acknowledge their responsibilities for ¢omptying with the requirements of the Act with respect
to a¢£ounting r¢¢ords and the preparation of a¢counts.
The finattcial statemellts on pages 7 to 21 were approved by the trustee& and authorised for tssue on 8 May 2024
aTHI siywed on their behalf by..
Mrs H.W. Jones
Trnstee
The notes on pages 10 to 21 forni an integral part of these fujancial statements.
Pa8e 9

D. F. and M. Welsh Baptist Cor￿rAt￿on
Note8 to the Finydncial Statements for the Year Ended 31 March 2024
I Ch*rlty ststlls
The ¢I￿lty is limited by slwe capi￿, i￿O￿orated in England and Wales.
Th¢ addr¢ss of its regist¢T¢d office is..
6 Lhwi GÉbwst
tknbigh
Denbi8h5hire
LL16 5HQ
These financi￿ stAt¢ments were authoris¢d for Assu¢ by the ttvstees on 8 May 2024.
2 AecouDtlng polkles
S￿￿m￿ry of significallt policies ind key #ceountittg ¢¥tinut¢s
The principal accountin8 ￿liCIeS applied in the preparation of these financial statements are set out IKIOW.
These p)licies have been consistently applied to all the years presented, unless otherwtse stated.
St*temeot of ¢ompll*ne¢
Th¢ fJnan¢i¥l stat¢ments have been pr¢pared Èn accordance with Accountin8 and Reporting by Charities:
Statement of ReCOtnmend￿ Practice applicable to charities preparin8 their accounts in accordance with the
Finan¢ial Reporting Stsndard applicable in the UK and R¢public of Ireknd (FRS 102) (effective l January
2015) - (Charities SORP IFRS 102)), the Financial Reporting Standard appli¢abl¢ in the UK and Republic of
Ireland (FRS 102} atsd the Compomies Act 2006.
Bssls of prepar*tloD
D. F. and M. Welsh Baptist Corp)ra¢ion meets the definiuon of a publi¢ benefit entity under FRS 102. As5¢ts
#nd liabilities are initially recogtiised at historical cost or tsansaction value wiless otherwis¢ stst¢d in the
relevant accounting policy note5.
Goin8 Concern
The ttvsie¢s ¢onsid¢r that th¢r¢ ar¢ no mat¢Tiai un¢¢rtaiDti¢s about th¢ charity's ability to ¢ontinue as a goin8
¢on¢em nor any significant areas of uncertainty that affKt th¢ carying value of ass¢ts held by the charity.
lrteome And endowJntnt8
All income is reco8nised ODrx the chwtty bas ¢ntitlement to th¢ Èncom¢. it is probabl¢ that the Income will be
rxeived and the amount of the income receivable calh be me&8ured reliably.
Page 10

D. F. and M. Webh Baptist Corporation
NO￿ to the Financial Statements for the Year Ended 31 March 2024
Don4rtons andlÉgtheld
L¢ga¢i¢s are reLognised wh¢r¢ ther¢ is entiil¢menL ¢¢rtainty of r¢¢¢ipt and th¢ amount ¢at) be measured with
suificlent reliability.
Donatioll5 ar¢ r¢¢ogDised when th¢ eharity has been notified in WTiting of both the amount and settlem¢Trt date.
In the event that a dvrtation is subject to ¢ondiiions that requir¢ g lev¢1 of performallc¢ by the charity before the
charity is entitled to the fimds. the income is deferred and not recognised until either those ¢onditions are fully
met. or the fi]lfilment of those eonditioris is wholly wthin the cotrtrol of the charity and it is probable that these
conditions will be fulfilled in the reporting period.
Income re¢eived from ¢hap¢l Sal￿ is re¢ogJis¢d when the sale h&5 ¢ompl¢t¢d ond 811 tenns and ISSUES
S50ciatrd with thr di5EK)5al and use of the disp)sal proceeds have been aglyed with all relevant parties.
InvulmeRÉln￿rne
Intcrcst on fimd5 held on deptssit is included when ￿e1v&ble and th¢ amouni Can b¢ measured reliably by the
charity. this is nomially upon notification of the interest paid or payable by the bank. Dividends re￿gniSed
￿￿e the dividend h&8 been declared and notifiGation been received of the dividelld due.
Exptudithre
Liabilitie5 are recO￿ls¢d &9 500n as there T5 a legal OT COIlStructive obligation ¢omrnitting the charity to the
expenditure. All expendithre is accounted for on #n aceruals b&8is and h&8 been cl&ssified under headings that
aggr¢gat¢ all costs r¢18ted to the category.
Costs of genernting fi￿d$ are the costs aSs￿la¢a with attrarting voluntary inwm¢.
Charitabl¢ tXFtnditure ¢ompris¢s thos¢ costs incurred by the charity in the d¢livery of its activities and servÈces
for its beneficiaries. It include5 Ith costs that Can be allocated directly to such a¢tiviiies and those of an
indirect nature necessary to 5UPPOrt them. It 8150 includes all costs associated with cELapel sales.
Grants payable are payments to third parties in the furtherdnce of the chatitable objectivcs. Where the
Charity gives a 8Tant with wnditioD5 for its pa)Thent being a specifie level of service or output to be provided
$u¢h grants are only r¢¢ognis¢d in the SOFA on¢¢ the ffcipient of the grant has provided the specifi¢ s¢rvt¢¢ or
output.
Grants payable without perfomianee conditions are only ￿0g￿]Sed in the accounts when a commitinent h&
been made and there are no conditions to be met reknting to th¢ grant which rernain ill tht cotLtroI of th¢ ¢harity.
Provisions for grants ar¢ made when the intention to tnake a grant tw been commullicat¢d to the recipient but
th¢r¢ 15 uncertainty about either the timin8 of the 8rant orthe amount of 8fdllt payable.
Charithble Adiwiiies
Charitable cxpenditure comprtses thos¢ colts incunyd by the charity in the deliyery of its activities and 5¢ryices
for its b¢neficiarie5. It tncludes both costs that can be allocated direcdy to such activities and those costs of an
indirect nature necessary to support th¢m.
Gmnlpr•visions
Provision5 for grants are made when the int¢ntion to mak¢ a grant has been commwii¢a¢ed to the recipient but
there 15 uncertainty atout either the timin8 of the grant or the amount of grant payable.
Governance costs
Tl&e5e include the costs attributsble to the Charity's complianc¢ with c0nstittrtion￿ and statutory r¢quir¢rnents,
i￿]￿Al[l& audiL 5tr4tegi¢ maDagernent and trustees, me￿ing$ and r¢imburs¢d expens¢s.
Page 11

D. F. and M. Welsh Baptist Corporation
Notes to the Financial Statements for the YeAr Ended 31 March 2024
Taxation
The charity is consRdered to p&ss the tests set in Paragraph I Schedule 6 of the Finance Ad 2010 and
therefore it m¢¢ts th¢ der￿ltiOn of a charitable company for tJK ¢orw)ratior] t&x purEM)ses. Accordingly, the
chanry is potentially exernpt from laxation in respect of income or capital gains received withit) categories
covered by Chawer 3 Part 11 of th¢ Corporation Tax Aci 2010 or Section 256 of the Taxation of Chargeable
Gains Act 1992, lothe extentthat such income or gaills are applied exclusively to charitable purposes.
Fixed gss¢1 inv¢strnents
Fixed asset investhjents. other than programme related investtnents, are in¢lud¢d at market valu¢ at the bolance
sh¢¢t date. Realised gains and losses on inves¢m¢nts are ¢al¢ulated as the differ￿¢¢ between sales proceeds and
their m8Tket value at the start of the year, or their subsequent cosL and are Charged or ¢redit&l to th¢ Statemetkt
of FiDancial A¢tivi¢i¢s in the period of diS￿saI.
Unreaii5ed gains and 1055¢5 reprE5¢trt the movement in mw*¢t V81u¢s during the year and are credited or
charged to the Statement of Fin8ncial Activities based on the mark¢t value at the year end.
Caih and cash equivAltnts
Cash and ¢ash equivalents ￿MprISe ¢ash on hand and call deposits. and other short.tenn highly liquid
investments that are readily convertible to & known amount of cash and ar¢ subjKt to an insigttificant risk of
chan8e in V￿Ue.
Fund strutthre
Unrestricted In￿Me funds ar¢ general funds that are available for ￿se at the trustees, di5crction in furtherath¢e of
the objectivc5 of the chartty.
Restricted income filnds are thos¢ donatrd for w5¢ parti¢ular area or for spe¢ifi¢ purposes. th¢ use of which
15 restri¢t¢d to that area or purFx)s¢.
Flnandil lTrstrnments
CthsslJ7cÈYrtoM
Financial assets fJnan¢ial liabiliti¢s ore rewgnised when the charity becomes a party to the conlra¢tual
provisiorts of the instNment.
Financial liabiliti¢s ¢quity itistruments are Classified aw)rding to the substanc¢ of the corttractual
mg¢m¢nts enttitd inlo. An tquity in5trum¢nt is any ¢ontra¢t that eyidences a residual interest in the assets of
the Charity after d¢ducting ail of its liabilities.
Pag¢ 12

D. F. and M. Welsh Baptist Corporation
Notes to the Financial Statements for the Year Ended 31 March 2024
Recoynldon andM￿￿reMenff
All fiTrtaneiai &gsets and liabilities are initia]ly me85ur¢d at transaction pri¢e (including transaction costs), ¢x¢¢pt
for those fmancial assets Classifi￿ as at fair value through profit or loss, which are initia]ly measurEd at fair
value (whieh is nomally the transaction price excluditig transactioll costs). untess the arrangement constitutes a
financing transartion. If an arrangement COll5titut¢s a financin8 traDsaction, the finallciat &4set or fllwicial
liability is measured at the present value of the future payments discounted at a market rate of interest for a
similar debi ]￿tnIMenI.
Fi]rattcial assets and liabilities are ojdy offset iti the ststemeDt of financi￿ position when. and only when there
exists a le8ally enforceable right to Set off the reeo8ni5ed amounts and the clwity illtends ¢ither to settle on a
nct b￿]5, or to reaiise the asset and settle the liability simultaneously.
Fin8mcial assets are derecognlwl when alld only when a) the contrxttthl rights tt> th¢ c&sh flows from the
rthanGial asset expire or are settled. bl the ¢lthrity transfers to anoth¢r party subst4Dtiatly all of tlke risks and
rewards of ownership of the financial asset, or c) the charity, despite havin8 retained some, but not ail.
signifieant risks and r¢waTds of o*ryTreTship, has trawf¢rred Control of the asset w another paty.
Fin8mcial liabilities are dete￿gniSed only when the obligation spccifLed in the contratt is dischtrge& cancell¢d
or expires.
Page 13

D. F. and M. We15h Baptist Corporation
Notes to the Finan¢lal Ststements for the Year Ended 31 Mareh 2024
Debt inslrmments
Debt instnllnents which meei the following ¢otrJitions are Subsequently me&sured at amortised ¢ost using the
cffective interest method..
(a) The ¢ontractual return tt) th¢ hold¢r is (i) a fjxed amount; (ii) a positiwe fLx¢d rat¢ or a posilive variable rate"
or(iii) a combination of a positive OT a negative fixed rne and a positive variable r*e.
Ibl The contrnct may provide for repayments of the principal or the retum to the holdeT (but ttot both) to be
lit]ked to 8 single relevant observable index of genera] price inflation of the currency in whith the debt
instrument 15 denomiDated, provided such links are not leveraged.
(c) The contract rnay provide for a detemiinable variation of the rekn to the holder during the life of the
ijmmenl provided that (i) th¢ new rat¢ satisfies condition {a) and th¢ v8riuion is not contingent on fjMr¢
events other thall11} a challge of a Contractu￿ variable rate" (2} to protect the holder agatnst crcdit deteriorntio
of the issuer" (3) thanges in levie5 applied by a central bank or aTi5in8 from ehan8es in televant taxatton or law;
or (li) the new rate is a market rate of interest and satisfies condition (a).
(d) Th¢r¢ is no contractual provision that wul(L by its ternis. result in the holder losing the principal anx)unt or
y intsrest Attnlyutable to ihe current period or prior periods.
(E} Contractual provi510D5 that pennit the issuer to prepay a debt instrument or pcrniit the holder to put il back to
the issuer before maturity are not contingent on firture events, other than to protect the holder against the crcdit
deterioration of the issuer or a ehan8e Én conlrol of the IS5uer. or to proted the holder or issuer against changes
in levi¢s oppli¢d by a ¢entrai bank or aTi5ing from ¢h8ng¢s in r¢l¢vant taxation or law.
(fj Contra¢tua] provisions may p¢mit the ext¢nsion of th¢ t¢mi of the debt instnun¢ni. provid￿ that the return
the holder and any other contraGtual prtsvi5ion5 applicable during th¢ extended ternl satisfy the conditiort$ of
paragraphs {8) to {c).
Debt in5trumeDts that are ¢1&8sified payable or t¢c¢ivable within i)n¢ year on initial r¢w8Ditiott and which
meet the above wnditions are measured at the UDdis¢oun*d amount of th¢ ¢ash or other ¢QDSLd¢rdtion expKted
to be paid or reeeived, n¢t of impairment.
With the exception of some h￿BIng instsiJm¢nts, other d¢bi instti]m¢nts not m¢¢iing thes¢ conditions ar¢
measured at fair value througtrL profit or loss.
Commilments to make and receive loans which meet thc conditions mcntioned aknve arc measured at cost
(which may be nil) less impairtnent.
Inve5lu￿nts
Investments in non-convertible preferenc¢ shores and non-puttable ordinary or prefetEnce sh8tts (whwe sh8xes
are publicly trad¢d or their fair value is reliably measurabl¢) are m¢asw¢d at fair valu¥ through profit or loss.
Wher¢ fair value thmoi b¢ m¢a5urd reliably, inY¢5tmtnts are measured ai CO$11￿5 itllpairTneDt.
Falr value vw4wrement
The besi evidence of fair value is a quoted price for an identieal &sset in an active markeL When quoted prtces
ar¢ unavailabl¢, th¢ pri¢¢ of a r¢¢¢nt transa¢tton for an identi¢al 8ss¢¢ provid¢s ¢vid¢n¢¢ of fair value Is long as
there has not been a signifi￿1 change in e¢onomic ciwumstan¢es or vl significant lapse of tim¢ since the
Iran5a¢tion t¢)ok pix¢. If th¢ maTk¢t is no¢ active and r¢c¢nl transactions of an id¢nti¢al asset on their own ate
not a good esiimate of fair valu< the fair y￿U¢ is estimated by using avaiuation technique.
Pa8e 14

D. F. and M. Welsh Bydptist Corporation
Not¢8 to the Financial Statements for the Year Eaded 31 March 2024
3 IneoDW from thn•tioAs ind l¢gA¢ies
Ullrestrlcted
General
1024
Lknnations ¥nd legacie5',
Chapel S￿¢$
249,888
249,888
249,888
249,888
4 Investment intome
Unrestrieted
fuDds
G¢n¢r4l
Restricted
nds
Total
2024
Totsl
2023
In¢om¢ from divid¢nds'
Dividends reeeivable from group
undertakings
Interest r¢¢eivable and similar
incom<
ItLtere5t receivable on bank
deposits
Oth¢r investsnent income
7,578
li
3,721
11,299
2.272
408
7,596
3,721
11,317
1686
5 An%ly5is of governaDce and support Cogts
GoverDgnce eosts
Unre$trieted
fuDds
Gener81
Total
2024
Totsl
2023
Independent examTner fee5
EXamin￿10n of the fU￿l¢la1 stat¢ments
Other f¢¢5 paid to examin¢rs
Other governance ¢osts
679
670
400
679
670
400
$97
670
400
1.749
,749
,667
P¥8¢ 15

D. F. and M. Welsh Baptist Corporntioll
Notes to the Financial Statements for the Year Ended 31 March 2024
6 Gr#ttt-makirtg
ADalysis of graDts
Grants to institutions
2024
2023
Analysls
Distribution for the ben¢fii of Baptist Chur¢h¢$
17.785
12,953
The support wsts a5so¢iated with gt7nt-rnokin8 ar¢ £Nil (31 M*rch 2023 - £Nil).
Grants made are to Support th¢ upktep and running Costs of Chapels.
Below are detsils of material grants made to institutions
21)24
2023
Name of i￿stitUtiOn
Llansilin Chapel Work
LlaDgadwaJkn Church
Seion Glyn Ceiriog
Cymanf& Bedyddwyr
Bethel Treffynnon
Seion Fforddl&4
Cap¢1 Sal¢
Activity
Capel maintenancc
Capel rnaintenance
Capel maintettaAce
CApel maiDtsnAnce
Capel Anaintellatsc¢
Capel maittttnance
CapBI mpiEttenane¢
360
1,090
4.183
5,000
340
12,613
7,052
100
17.785
12,953
7 Expenditur¢ fb&ritsbl¢ artivities
Unrestricted
ds
Gen¢r*l
Totsl
21124
Total
2023
Clwity admit)islration
Provision of Parchedeg
Grant fiulding of a¢tiviti¢s
G)verJhomce (*ists
133
10.396
17.785
1,749
133
IOJ96
17,785
1.749
133
10,396
12,953
1,667
30.063
30,063
25,149
Pag¢ 16

D. F. and M. Welsh Baptist Coryoratio
Notes to the Finallcial Statements for the Year Ended 31 March 2024
8 Truthes remuneratio￿ aDd eAPtll5es
During the y¢ar the charity made the following transactions with ttustees..
.MrT R Iran
Mr T R Ifan received remuneration of £10,000 (2023.. £10.OIXI} during the yeaT.
The remunerntion and expenses paid to Mr Ifan were in respect of fidfilling his role as Porchedi8.
9 lttdependent txan￿Der'S remuneration
2024
2023
Examination of the financial statw)ents
679
597
Other fee8 to examlners
All other serviees
670
670
10 Taxatlon
The charity is a registered charity and is therefore ¢x¢mpt from taxation.
Page 17

D. F. and M. Welsh Baptist Corporation
Notes to the Financial Statements for the Year Ended 31 March 2024
11 Flxed Asset Investments
2024
2023
Other investments
55,432
55,421
Other lllve8tments
investments
Totsl
Cost or Valuation
At I ApTiI 2023
55.421
55.421
Revaluation
At 31 Mardj 2024
55.432
55,432
Net book value
At 31 Marth 2024
55.432
55,432
At 31 M￿h 2023
55.421
55,421
12 Cash and ush ¢quiv4l¢nts
2024
2023
Cash at b8nk
956,823
725,693
13 Creditors: #mounts fallint dllt within one year
2024
21)23
Accruals
2,176
2,176
Page 18

D. F. and NL Welsh Baptist Corporation
Notes to the Finan¢ial Ststements for thc Year Ended 31 March 2024
14 Fun
Balattc¢ *¢ I
April 2023
IncorniD¥
resources
Resource$
expeDded
BAi*nee at 31
M*rch 2024
Unr¢5trirted fu￿d$
Generol
Unrestrirted in¢om¢ fi￿d
475,624
257,484
(30.063)
703.045
Restrieted funds
23,733
619
26,922
9,898
16,772
12,653
7,052
43,947
43,387
l7.375
28,683
23,470
12,139
2.867
LI,304
314
24.047
627
27,279
10,029
16,994
12,821
7,145
H,529
43,962
17.605
29,063
23,781
12JOO
2,905
11.454
taura Williams Bequestfill
Rthyl fi￿d
Cefnbychan fund
Liansilin fund
Holywell fijnd
Bglpysbach chwch fund
Milwr fi￿d
Llangollen church fund
Tallygri5tau chapel fvnd
Llallfyllin chapel fi￿d
TalsThu fiu
Pandy chapel fiuld
Salem chapel fforddl&s
Llanb¢dr fiu
357
131
222
168
93
582
575
230
380
311
161
38
150
Total rtstrieted fund5
280,821
3,720
284.541
Ewndahle
B¢thania baptist ¢hap¢l graveyard
fimd
22.493
22,493
21493
22,493
Totsl fundg
778.938
261,204
(30.063)
1.010.079
Pag¢ 19

D. F. and M. Webh Baptist Coryor2tion
Notes to the Financial Statements for the Year Ended 31 Mareb 2024
BglAncÈ Xt I
April 2022
Incoming
resour
Balance at 31
March 2023
expellded
UDreJtricted funds
Gener41
L'nrestriaed iD¢ome fill
498,697
2,074
(25,147)
475,624
Res¢rirt¢d
Corwi fjjnd
Laura Williams Bequ¢sthmd
Rhyl fi￿d
Cethbychan fund
Llansiiin fimd
HOl￿ell fund
Eglwysbach chU￿b fimd
Milwr fund
Llan8oll¢n churGh fund
Tanygri5iau chapel fund
Llanfyllin chapel fi￿d
Tatsamau fund
Pandy ¢hAp¢l fvnd
Salem chapel fforddl
Llanbedr fund
23,681
618
26,863
9,876
16.735
12,625
7,037
43.851
43,293
17.337
28.621
23,419
12.113
2.861
11,279
52
23,733
619
59
22
37
28
15
26,922
9,898
16,772
12.653
7,052
43.947
43 J87
17.375
28,683
23,470
12,139
2,867
11.304
38
62
51
26
25
Totgl res¢rl¢¢ed fvnd8
280,209
612
280.821
£Ypendable
Bethania baptist chapEI gt&veygrd
fund
22.493
21493
22,493
22,493
Total fllDds
801.399
778,938
Page 20

D. F. and ￿ Welsh Baptist Corporation
Notes to the Financial Statements for the Year Ended 31 March 2024
IS All•tysis olnd assets Ixtween funds
bnrestTleted
funds
General
Elldowmcllt
funds
PeTm4Dent
Totsl funds •t
31 I*IAr¢h
21124
Restrieted
Dds
Fixed asset investments
Current assets
Current liabilities
55,432
649,789
(2,176)
55.432
956,823
2,1761
284,541
22,493
Total nct &Ssets
703.045
284,541
22,493
1,010,079
nrestrleted
fuDds
GeneThl
Endowment
futtds
Permantnt
Tolgl funth at
31 MArth
2023
funds
F￿ed asset investments
CutTent a55ets
Current liabiliti&
55,421
422,379
2.176)
55,421
725,693
2,1761
280,821
22,493
T(trtst net aqsets
475,624
280,821
22,493
778,938
16 Related party tr*tss*rti(•ms
There were no related party transactions in tbc year.
Page 21