CHARITY REGISTRATION NUMBER: 259042
The Lectureship Endowment of Edward Lewis
Unaudited Financial Statements
31 December 2024
WALTER HUNTER & CO LIMITED
Chartered accountanfis
24 Bridge Street
Newport
South Wales
NP20 4SF

The Lectureship Endowment of Edward Lewis
Financial Statsments
Year ended 31 December 2024
Page
Trustee5' annual report
Independent examinerfs report to the trustees
Statement of financial activities
ststement of financial position
Notes to the financial statements
Tho following pages do not form part of the financial ststements
Detailed statement of financial activities
16
Notes to the detsiled ststement of financial activities
17

The Lectureship Endowment of Edward Lewis
Trustees, Annual Report
Year ended 31 December 2024
The trustees present their report and the unaudited financi81 SAtements of the charity for the year
ended 31 December 2024.
Reference and adminlstratlv• detalls
Reglstered charfty name
The Lectureship Endowment of Edward Lewis
Charlty reglstratlon number
259042
Principal oifice
Equity Chambers
John Frost Square
Newport
Gwenl
NP20 1PW
The trustees
The Right Reverend Chery
Vann, Bishop 05 Monmouth
The Very Reverend lan Black.
Dean of Newport
The Venerable Stella Bailey,
Archdeacon of the Gwent Valleys
Mr Roderick Davies
Mr John Hall-moo
Mr John Warcllaw
Hanbury-Tenison
Mr Peter Jones
Indep6ndent examiner
Mr Jonathan Rhodes Bsc BFP FCA
Walter Hunier & Co Limited
Chartered Accountant
24 Bridge Street
Newport
South Wales
NP20 4SF
Stru¢ture. govgrnance and management
Nature of the governing document and ¢on$tltutlon of the charlty
The charity is regulated by a scheme made by the Board of Charity Commissioners for England &
Wale5 on 6th June 1902 and is registered with the Char,ty Commission, charity number 259042. The
charity is subject to the law of England & Wales.
The methodg adopted for the recrultment and appointment of new trustees
The trustees are appointed in accordance with the scheme rules. The ex-officio trustee, Mr
Hanbury-Tenistsn. is the owner for the tirr.e being of the Kifvach Vargoed estate in the old parish of
Gelligaer. Six furthe." co-optsts've trustees are appointed for a term of fjve years by a resolution of the
trustees at a special meeting.
Al the year end there We￿ six ctroptative trustees in posL

The Lectureship Endowment of Edward Lewis
Trustees, Annual Report Iconllnued)
Year ended 31 Decamber 2024
Stru¢turg1 governance and management f¢onllnued)
The organlsatlonal structure of the chartty and how decisions are mad8
The Annual Gener81 Meeting of the charity is usualty heid in April or May each year.
Decisions with regard to the ¢harty are tsrfen by tr.e trustees in general or s*cial meetings. The
adminislralion of the charity and the impleff,entation of de¢isions,'s Carried out by the clerk.
Obj&c￿Ve8 and actlvltle8
A summary of the governing objects of the charlty as set out In Its goyernlng document
The objects of the charity a￿ lo apply the in¢ome in makill g certain grants as provided in the scheme
to the vicar for the lime being of St. Davié Fleur4e-Lis ar,d, subject thereto, li making grants for tre
benefit of tle church and parsonage of St David aforesaKJ or for the extension of church work within
the old parishes ot Bedwellty and Mynyddisfvryn.
The pari8hes now eligible to receive grants uyder the Sc￿.eM.e (comprising the ancient parishes of
Bedwèllty and Mynydd 51wynl include the whole or part of the followng'.-
Islwyn Ministy Area
Mynydd Beduvellte Ministy Area
St Iltyd Ministry Area
Summary of th8 main activitiès ofthe charity In relation to its objects
The tru51ees have 8dopled the policy of rr.arfsng individual granis lo the viears o! eligible parishes and,
particularly in ftjture, to the parishes for rriaintenance ol non-stipendiary ministers,. and in making
grants for the repair and maintenance of ctr.urches within the eligible parishes. Details of the grants to
individuals and lo parishes approved for the years ending 31st Decernber 202d and 31 st December
2023 are set out in note 9 to the accounts.
Subject to maintaining adequate reseNes. the trustees budget to disburse in grants the whole of the
annual income ol the charity.
Public Benefrt
In implemefftipg the objects of the Charty the trustees have due regard to the public benefit guidance
issued by thé Gharity Commission.
The gffnt making policy adopted by the trustees supports the practr,ce of religion by the Ap.glican
churches withiri the geographical area served by the Chanty's ojjects both in maintenance ol church
buildings Tor the present and future use of the Piitjlic ar,d residents within the area and in providing
support for inclividual parishes and clergy br the maintenance of ministy within that area.

The Lectureship Endowment of Edward Lewis
Trustses, Annual Report (conllnuedj
Year ended 31 December 2024
Achievements and pgrformance
Summary of the main achiov?m&nts of the chaflty during the year
During the year the charty disbursed the following".-
£35012023.. £3501 for grants lo vicars..
£62512023.. £5001 for vicars, parish support grants.,
£20712023.. £2071 for grants for ground rent.,
£70012023.. £8001 for grants to parishes for the maintenance of non-5tipendiary ministers..
£15,088 12023.. £nil} for special grants which were made for the repair and maintenance of eligible
churcnes during the year. Special gfanls approved bul not taken LJP during the year ar8 nomBIIy
carried forward, subject to the Injstees approval.
Full details of all grants paid are Shown in note 9 to the accounts.
Flnancial revlew
Policy on reserves
The Iruslees have considered the reserves of the Charity and adopted a policy of retaining reserves to
make grants for emergencies, for rriajor projects and for grants approved but not paid. and consider
that the reserves are sufficient to cover any contir*gencies.
Prln¢lpal funding sources and how expenditure In th¢ year under revlow has support¢d the key
obJ¢¢tives of the charity
The chartty's income is investment and rental incorne derived from the charity's assets of equities,
investment propertr.es and bani( deposits.
The charty has appointed Brewin Dolphin to act as ils broker and financial advisers. The trustees
have adopted an ethic81 policy in relation lo its inves&rr.ents in stocks and shares in consultation with
its financial advisers. This policy is kept under review.
The investmént. properts'es of the charity were valued on 21 SepleiTiber 2021 by the chartered
surveyo¥s Grakam & Co. at a total open ma*et valuab'on of £700,025. The trustees cor.sider all
investment propety market values to remain unchanged as at 31 December 2024.
Income received is distributed as grants. Any Tesidual income is placed on deposit with the bank.
Avallabllity and adequacy of assets of each of the tunds
The Iruslees are satisfied that the chaaty's assets in ea¢h fund are available and adequate to fulfil its
obligations in respeci of each fijnd.
The Iruslees consider the current state of the chanty's finances to be sound.
Transa¢tions and financial position
The Statement of Financ'.8l Activities show revenue outgoing resour￿5 for the year of £4,056 (2023..
Incoming £19,672) and capitsl incoming resob'rces for the year of £39,764 12023.. incoming £27,469)
resulting in total incorning resources lor the year of £35.933 {2023.' incoming £47, 141).
The total reserves at the year end sland al £1,651,811 12023.. £1,615,8781.

The Lectureship Endowment of Edward Lewis
Trustees. Annual Report(condnue
Year ended 31 December 2024
Flnan¢lal review (continu8dJ
Specific changes In fixed assets
Disposals and acquisitions of stocks and shares have taken place during the year upoo the advice of
the invesiment managers, Bfewin Dolphin.
Further details of the movement in fixed asset investments during the year 1$ shown in note 13 to the
accounts.
Plans for future perlods
The charty will continue to manage its investments in st¢xks and shares and in land to best
advantage with professional advice in order to balar.ce the requirements to produce income to fund
the objects of the charty and the long term growth of investments.
The trustees, annual report was approv&J on ................................................................... .... and signed
on behalf of the board of trustees by..
Mr T M Russen
Clerk

The Lectureship Endowment of Edward Lewis
Independent Examiner's Report to the Trustees of The Lectureship Endowment
of Édward Lewis
Year ended 31 December 2024
I report lo the trustees on my exarp.ination of the financial statements of The Lectureshlp Endowment
Df Edward Lewis I'the charity'l for the year ended 31 Decenber 2024.
Responsibillties and basls of report
As the truste85 of the charty you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Act 2011 I'lhe ACYI.
I report in ￿spect of my examination of the charity's financial statements carried out under section 145
of the 2011 Act and in carrying out my examip.ab"on I have followed all the applicable Directions given
by the Charity Cornmission under section 145(5){bl of the Act
Independent examiner's statement
I have completed my examination. I confimi that no material matters have corm to my attention in
connection with the examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the charty as ￿4vI￿d by section 130 01 the
Act, or
the financial statements do not a¢cord with those records; or
the financial statements do rbot comply wtth the applicable requirements concerning the
form and content of accounts set out ir. the Charities {A¢¢ounts and Reports) Regulations
2008 other than any requirement that the accouryls give a 'lrue and fai￿ view which is not a
matter considered as part of an independent examination.
I have no ¢oncems and have come acros5 no other matters in connection with the examination lo
which attention should be drawn in this rep)rt in order to enable a proper understanding of the
accounts to be resched.
Mr Jonathan Rhodes 8Sc BFP FCA
Walter Hunter & Co Limited
Chartered Accountant
Independent Examiner
24 Bridge Street
Newport
South Wales
NP20 4SF

The Lectureship Endomnent of Edward Lewis
Statement of Financial Activities
Year ended 31 December 2024
2024
Unrestricted
funds Total funds Total funds
2023
Income and endowment8
Investment income
Other income
24,978
5.020
24,978
6,020
29,998
27,46S
4,709
32,174
Total income
29.998
Expendlture
Expenditure on ¢haritable activities
Total èxpenditure
33.829
33,829
33.829
12,502
33.829
12,502
Nel gains on investrnents
10
39.764
39.764
27,469
N¢t Income and net movom•nt in funds
35.933
35,933
47,141
Reconclliation ot funds
Total fvnds brought forward
Total funds carried forward
1.615.878
1,615,878
1,651,811
1,568,737
1,61 S,878
1,651.811
The statement of financial activities includes all gains and bsses recognised in the year.
All income and expenditure derive trom continuing activiues.
The notes on page$ 8 to 14 forni part of these finaricial statsments.

The Lectureship Endowment of Edward Lewis
staternent of Financial Position
31 December 2024
2024
2023
Nots
Flxed assets
Investments
13
1,S42,686
1,508,486
Current assets
Debtors
Cash at bank and in hand
14
166
110,791
110,957
166
108,829
108,995
Credltors: amounts falling due wlthln ono year
Net currgnl assgts
15
1,832
1,603
109,125
1,651,811
1,651,811
107,392
Total assots less current Ilabllltles
1,615,878
Net assets
1.615,878
Funds of the charity
unreStr￿ted funds
1,651,811
1,651,811
1,615,878
Total ¢harity funds
16
1,615,878
These financBI statements were approved by the board of trustees and authorised for iSSLte on
, and are signed on behalf of the l)oard by..
The Very Reverend lan Black. Dean of Newport
Trustee
Mr Roderick Dav
Trustee
The notes on pages 8 to 14 forni part of these financial Statements.

The Lectureship Endowment of Edward Lewis
Notes to the Financial Statements
Year ended 31 Daeember 2024
General Infomiatlon
The charity is a public benefit entity and a registered charity in England and Wales and is
unincorporated. Tb.e add￿sS of the principal office is Equity Chambers, John Frosl Square,
Newport, South Wales, NP20 1 PW.
Statement of compliance
These financial slalements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable ip. the UK and the Republic of Ireland., the Statement of
Recommended Pract ce appI￿able to cTr.arities preparing their accounts in accordance with the
Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 102) {Charities
SORP IFRS 1021) and the Charities Act 2011.
Ac¢ountlng poll¢les
Basls of prepara￿On
The financial statements have been prepared on the historical cost basis, as modifigd by the
revaluation of.certain financial assets and liabilities and inveslrnent propetties measured al fair
value through Income or expenditsre.
The finaricial statements are prepared in steding, which is the functional currency of the entity.
Golng concern
There are no material uncertainties about the charty's ability to continue.
Judggrnènts and key sources of estlmation uncertalnty
The preparation of the financial statements requi￿$ management to make judgements,
estimates and assumptions that affect the amoun s reported. These estimates and judgemer,ts
are continually reviewed and are based or, experience and other factors, including expectations
of fuluré events that 8re believed to be reasonable under the circumstances.
Fund accountlng
Unrestricted funds are available for use at the discrets.on of the thjstees to further any of the
charity's purposes.
Incoming reSou￿9S
Al income is included in the statement of financial acttvities when entitlement has passed to the
charity, it is probable that the economic benefits associated wth the transaction will flow to the
charity and the amount can be reliably measured.
Resour¢e8 expended
Expenditure is recognised on an ac-ruals basis as a liability is incurred. Expend,'ture include5 any
VAT which cannot be fully recovered, and is classified under headings of the slalemenl of
financial activib.es lo which it relates. Expenditure on charitsble activities includes all costs
incurred by a charity in undertaking aclNtties thal further its charitable airris for the benefit of its
beneficiaries, including those support costs ana costs relating to the governance of the charity
apportioned lo charitable activities.

The Lectureship Endowment of Edward Lewis
Notes to the Financial Statements Iconlinuedj
Year ended 31 December 2024
Accountlng policles (eontinufdj
Investments
Unlisted equity investments a￿ initsalty recorded at cost and subsequentty Measur￿ al fair
value. If fair value cannot be reliabty measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
Invgstment property
Investment propety is intbally recorded at C03L which includes purchase price and any direct!
attributable expenditure. Investr..ent propety is revalkned to its fair value at each reporb.ng date
and any changes in fair value are recognised in profit or loss.
The invesknent properbes of the chanty were valued on 21 September 2021 by the chartered
iurveyors Graham & Co. at a total open market valuation of £700.025. The trustees consider all
investrneni property market values to remain unchanged as at 31 tlecember 2024.
Flnanclal instruments
A financial asset ¢r a fjnancial liaciility is recognised onty when the enlty becomes a paty lo the
contractual provision$ of the instNmenl
Basic financial instruments are initially recogni5ed at the amount receivable or payable including
any related transaction costs, unless the arrangemert constitu,￿$ a financing I￿nSactIon, where
it is recognised at the pre$ent value of the future payments discounted at a market rale of
interest for a similar debt instrumenL
Current assets and Current liabilities are subseqLenlty measured at tr,e cash or other
consiaeration expected to be paid or received and not discounted.
Investment income
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2024
Fund
2023
Dividends
88nk interest
24.692
24.692
27,465
27,465
24.978
24,978
27,465
27,465
Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Rent receivable
Bank compensation paymenl
5,020
5,020
4,309
4,309
40D
5.020
5,020
4,709
4,709

The Lectureship Endowment of Edward Lewis
Notes to the Financial Statements (¢onthu8dJ
Year ended 31 December 2024
Expendlture on charitable activytles by fund typ
Unrestricted Tolal Funds UnreStrFCt￿ Total Funds
Funds
2024
Funds
2023
Grant making
Support costs
16,970
16.859
16,970
16,859
33,829
1,857
10,645
1,857
10,645
33,829
12,502
12,502
Expendtture on charltable activitios by activity type
Grant fvnding
of activities Support costs
Total fund$
2024
Totsl fund
2023
Grant making
16,970
1 S,859
33,829
12,502
Analysis of support costs
Grant making
acb'vty Total Z024 Total 2023
Governance costs
Investrnenl management fees
Ecclesiastical insurance
8,643
4,698
3,518
16,859
2,726
4,518
3,401
10.645
4,698
3,518
16,859
10-

The Lectureship Endomnent of Edward Lewis
Notes to tha Flnancial Ststements (condnued)
Year ended 31 December 2024
Analysls of grants
Spocial Grants
2024
2023
St. Augugtine's, Pont',13nfraith
St David's, Oakdale
Sl. Tudofs, Mynydd1s￿n
9,000
3,588
2,500
15,088
No provision has been made for the followng Special Grants approved but not paid by 315t
December 2024'.-
Approved 2024.
Christ Church, Ebbw Vale
st Paul's, Newbrsdge
15,000
8,000
Approved 2023..
Sl David, Rhymney
2,000
Approved 2021..
SL Dingat, Tredegar
4.800
29.800
Grant for Ground Rent
2024
2023
Mynyddislwyn
Church of Wales
21)0
200
207
207
Vicars. Pon'sh Support Grants
2024
2023
Islwyn Ministy Area
Mynydd Bewellte Ministry Area
St. Illtyd Ministry Area
250
125
250
250
250
250
625
750
Vicars. Grants
2024
2023
Rev. M Owen
350
350
11

The Lectureship Endowment of Edward Lewis
Notes to the Financial Statements fcontinu8dJ
Year ended 31 December 2024
9. Analy$ls of grants Icontlnued)
Non Stipendiary Grants
2024
2023
Iswn Ministry Area
Mynydd Bedwellte Ministy Area
600
200
300
700
800
10. Net galns on investments
Unrestricted Total Funds Unrestrcted Total Funds
Funds
2024
Funds
2023
Gainslllossesl on investment propety
Net appreciabonlldepreciatson) of
equities held for investrnent
900
900
39.764
39.764
39,764
39,764
26,569
26.569
27,469
27,469
11, Independent examination fees
2024
2023
Fees payable lo the independent examiner for.
Independent exarnination of the financial statements
1,020
978
12. Trustee remtlnoration and expenses
Neither trustees or any persons connected wilh Ihem have received any remuneratson or been
reimbursed expenses, either in the current year or in the prior year.
1ndemhi.ty insurance has been paid to protect the charity from loss arising from the r,eglecl or
defauttg 9f its trustees or to indemnify tts trustees against the conSequen￿S of any neglects or
delauY(s on their parL The indemnity insurance is in¢luded as part of the overall charity
insurance premium this year and therefore there is an unidentifiable ¢ost.
12-

The Lectureship Endowment of Edward Lewis
Notes to tha Financial Statements (conbntsfjd)
Year ended 31 December 2024
13. InvEstTnonts
Cash orcash
Listed Investment
equivalenls inveslrnents
properties
Total
Cost or valuatlon
At 1 Jaiiuary 2024
Additions
Disposals
Fair value movements
7.017
801,444
144,929
101,767
{132,1321 1120,128)
39,764
822,847
700,025
1,508,486
246,696
1252,2601
39,764
1,542,686
At 31 December 2024
19,814
700,025
Impairment
At 1 January 2024 and
31 December 2024
Carrying amount
At 31 December 2024
19,814
7.017
822,847
700,025
1.542.686
At 31 December 2023
80',,444
700,025
1.508,486
All investrnenls shown above are held at valuation.
Investment propertles
Investmentpropwll¢s
Tb,8 inveslmeyt properties of the ch8rity were valued on 21 SepteM￿r 2021 by the chartered
surveyors Granam & Co. at a total open market valuation of £700,025. The Iruslees consider all
investment property market values to remain unchanged a5 at 31 Decernber 2024.
Llstsdlnvestsn8nts8ndflnancl81 essets heldal f•rvalue
The listed investments have been valued al fair value at the year end dale by the portrolio
managers, Brewn Dolphin.
Finanilal assets held at fair value
The listed investrnenls have been valued at fair value al the year end date by the portfolio
anagers, Brewin Dolphin.
14. Debtors
2024
2023
Prepaymep.ts and accrued income
166
166
15. CrgditOTS'. amounts falling due within one year
2024
2023
Accnjals and deferred incorne
Rent receNed in advanre
1,020
812
978
625
1,832
1,603
13-

The Lectureship Endowment of Edward Lewis
Notes to the Financial Ststsments (coniinuedj
Year onded 31 December 2024
16. Analysis of charltable funds
Unrestrl¢t¢d funds
Al
1 January 20
24
At
Gains and 31 December
losses
2024
Income Expenditure
Unrestricted Income
Fund
Unrestricted Capital
Fund
107,392
29.998
(28,2651
109,125
1,508.486
1,615,878
15.5641
133,8291
39,764
39.764
1,542.686
1,651,811
29.998
At
1 January 20
23
At
Gains and 31 December
losses
2023
Income Expenditdre
Unrestricted Income
Fund
Unrestricted Capttal
Fund
84.892
32.174
19,6741
107.392
1.483,845
1.566,737
12,8281
{12.502)
27,469
1,508,486
1,615,878
32,"174
27,469
17. A"naly5is of net assets between funds
Unreslricled Totsl Funds
Funds
2024
Investments
Current assets
Creditors less than 1 year
Net assets
1,542,686
110,957
11,832)
1,651,811
1,542,686
110,957
11,832}
1,651,811
Unrestricted Total Funds
Funds
2023
Investrnents
Current assets
Creditors les5 than 1 year
Net assets
1,508,486
108.995
{1,6031
1.615,878
1,508,486
108,995
{1,603)
1,615,878
14-

The Lectureship Endowment of Edward Lewis
Management Information
Year ended 31 December 2024
Thg follo￿n9 pages do not fomi part of tho flnan¢lal statements.
15-

The Lectureship Endowment of Edward Lewis
Detailed Ststement of Financial Activities
Year ended 31 Decern￿r 2024
2024
2023
In¢ome and èndoynngnts
Investment Income
Div,'dends
Bank interest
24,692
286
27,465
24,978
27,465
Other Income
Rent receivable
Bank compensat'on payment
5,020
4,309
400
5,020
4,709
Total income
29,998
32,174
Expondlture on charitable activitles
Grant making
Grant funding a¢Uvltles
Special Grants
Vicars, Grants
Vicars, Parish Support Grants
Non Sb'pendiary Granis
Grant for Ground Rent
15,088
350
625
700
207
350
500
800
207
16,970
1,857
Support Costs
Insurance
Legal & professional tees
stockbroker management fees
Clerk'8 re
uneralion
Indepen
nt. Examinevs fees
3,518
6,123
4,698
1.500
1,020
3.401
248
4,518
1,500
978
16,859
10,645
Expenditure on charitable actlvities
33,829
12,502
Net gains on Investments
Gainslllossesl on investment property
Net appreciationl{depreciakn'onl of equibes held for investment
900
26,569
39.764
39,764
27,469
Net Incomg
35,933
47,141
16-