2025-03-31-accounts

The Welsh Church Act Fund within

the areas of

Rhondda Cynon Taf, Bridgend and Merthyr Tydfil

County Borough Councils

ANNUAL REPORT

AND FINANCIAL STATEMENTS

2024/25

Registered Charity no. 506658

Welsh Church Act Fund 2024/25

Annual Report 2024/25

Contents

Contents
	Page
Report of the Trustee	3
Statement of the Trustee’s Responsibilities	8
Report of the Auditor	9
Statement of Financial Activities	13
Balance Sheet	14
Statement of Cash Flows	15
Accounting Policies	16
Notes to the Statement of Financial Activities	18
Notes to the Balance Sheet	21
Notes to the Cash Flow	23

Page 2 of 23

Welsh Church Act Fund 2024/25

Report of the Trustee for the Year Ended 31st March 2025

Duty to Prepare Annual Reports and Accounts

Rhondda Cynon Taf County Borough Council, as trustee, is responsible for the preparation of the Annual Report and Accounts for the Welsh Church Act Fund.

The trustee presents its report along with the financial statements of the charity for the year ended 31[st] March 2025. The financial statements have been prepared in accordance with the legal requirements contained in the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 (SI 2008 No 629) and the Charities Statement of Recommended Practice 2019 (FRS102).

Legal and Administrative Information

Name of Charity

The Welsh Church Act Fund within the areas of Rhondda Cynon Taf, Bridgend and Merthyr Tydfil County Borough Councils.

Charity Number

506658

Governing Document

Trust Deed

Trustee

Rhondda Cynon Taf CBC, as a corporate body, is the trustee of the Welsh Church Act Fund.

Method of Appointment

Upon becoming a Member of the Council, Councillors become a trustee of the Fund.

Chief Executive

Paul Mee

Principal Office

Rhondda Cynon Taf CBC, Llys Cadwyn 2, Pontypridd, CF37 4TH

Auditors

Audit Wales, 1 Capital Quarter, Tyndall Street, Cardiff, CF10 4BZ.

Bankers

Barclays Bank PLC, Leicester, Leicestershire, United Kingdom, LE87 2BB.

Page 3 of 23

Welsh Church Act Fund 2024/25

COIFs (Charities Official Investment Fund)

Managed by CCLA (Churches, Charities and Local Authorities) Investment Management Ltd., 1 Angel Lane, London, EC4R 3AB.

Solicitors

Legal and Democratic Services, Rhondda Cynon Taf CBC, Llys Cadwyn 2, Pontypridd, CF37 4TH.

Investment Managers

There is no contract with any advisor and no annual fees are charged. However, advice is sought on an ad-hoc basis.

Narrative Information

Constitution and Objectives

Lloyd George, under the provisions of the 1914 and 1919 Welsh Churches Acts, established the Welsh Church Act Fund. These two acts transferred certain categories of secularised property to a Welsh Church Act Fund to be administered by the County Councils, however, these funds were not activated until 1942-47, when property to the value of almost £2.5m was handed over to the County Councils.

The Welsh Churches Acts state that income of the funds should be devoted to charitable or alms giving purposes and that each Council is required to prepare a scheme for the use of the fund.

The Welsh Church Act Fund within the areas of Rhondda Cynon Taf, Bridgend and Merthyr Tydfil County Borough Councils still operates under the constitution of the Mid Glamorgan Welsh Church Act Fund. The original trust deed is dated 9[th] January 1976 and the registered charity number is 506658.

The charitable purposes to which the fund may be applied are:

• Educational

• Relief in sickness

• Relief in need

• Libraries, Museums, Art Galleries, etc.

• Social and recreational

• Protection of historical buildings, etc.

• Medical and social research, treatment, etc.

• Probation, etc.

• Blind persons

• Aged persons

• Places of worship and burial grounds

• Emergencies or disasters

• Other charitable purposes

These purposes are consistent with the Charity Commission’s guidance on public benefit.

Page 4 of 23

Welsh Church Act Fund 2024/25

Organisation

All the Councillors of Rhondda Cynon Taf CBC act as trustee of the Welsh Church Act Fund. As the Fund covers the areas of Bridgend and Merthyr Tydfil as well as Rhondda Cynon Taf, the trustee consults with representatives from these County Borough Councils on successful applications within their localities.

Where appropriate an induction and appropriate training is provided to councillors and any responsible officers which deal with the Fund on behalf of the Trustee.

The charity trustee has complied with the duty in the Charities Act 2011 to have due regard to guidance published by the Charity Commission.

Related Parties

A related party transaction is one where the charity has a relationship with another party, which might inhibit it from pursuing its own separate interests. It is considered that Rhondda Cynon Taf CBC, Bridgend CBC and Merthyr Tydfil CBC and all Trustees of the Fund have related party relationships with the charity. Transactions with related parties are disclosed in Note 4 to the Statement of Financial Activities.

Grant Making Policy

Organisations are invited to submit applications together with estimates, accounts and constitutions. One or more of the purposes mentioned previously will cover successful applicants. There are specific restrictions applied around these general categories which are as follows:

1. Students are not eligible as it is considered that the County Borough Council’s education policy already covers the most worthwhile cases.

2. Individual cases of relief in sickness will be referred to by the County Borough Council’s Community & Children’s Services Group.

3. Individual cases of relief in need will be refused, as any provision in this area should be the responsibility of the Department for Work and Pensions. However, applications from organisations working towards relief in need will be considered on their merits.

4. No grant will be made to organisations which have a premises certificate to serve or supply alcohol. Grant can be awarded to organisations which have applied for Temporary Event Notices, as long as this falls within the limits identified in the Licensing Act.

5. No grants will be made toward projects operating outside the areas of Bridgend, Merthyr Tydfil and Rhondda Cynon Taf.

6. Applications will be considered from organisations based outside the areas of Bridgend, Merthyr Tydfil and Rhondda Cynon Taf provided that the work of the organisation has local significance.

Page 5 of 23

Welsh Church Act Fund 2024/25

1. To be eligible, organisations should ensure their facilities are open to the public at large. Any assistance given will be towards project expenditure of a capital nature only. Revenue costs such as running expenses will not be supported. Welsh Church Act Fund grants will not be paid up front. Grant will normally be paid on completion of the project, on submission of invoices and bank statements to evidence the expenditure.

2. Welsh Church Act Fund grant limits during 2024/25 were:

Category	Grant Level	Match Funding Contribution
Small	Up to £3,000	Nil
Medium	£3,001-£15,000	Minimum 10%
Significant	£15,001-£50,000	Minimum 20%

Details of the Grant Making Process

When projects are fully developed and ready for a decision, recommendations are made by officers via a Grant Assessment Report. Decisions to accept or reject these recommendations are made by the Regeneration Manager in consultation with the Cabinet Member and following consultation with Bridgend and Merthyr Tydfil County Borough Councils.

Review of Financial Activities

The Statement of Financial Activities for the year is set out on page 13. A summary of the financial results are set out below:

Investment income during the year totalled £412k (£365k in 2023/24). Expenditure on charitable activities totalled £566k (£517k in 2023/24), and governance costs of £10k were incurred (£6k in 2023/24). Net incoming resources less resources expended amounted to a deficit of £164k (Net incoming resources less resources expended amounted to a deficit of £158k in 2023/24).

During 2024/25 the number of grant awards processed increased from 47 in 2023/24 to 51.

Net losses on the revaluation of Investments totalled £285k for the year (net gains of £967k in 2023/24.

Investment Policy and Performance against Policy

The Trust Deed governs the trustee’s investment powers. This permits the Charity’s funds to be invested in any authorised security listed on the London Stock Exchange. The trustee has complied with this policy during 2024/25.

The investment strategy of the Fund is to balance risk. Capital value is exposed to minimum risk whilst ensuring investment income is sufficient to pay for approved grants.

Page 6 of 23

Welsh Church Act Fund 2024/25

Aims

We will continue to be a demand led grant making charity providing support where it is needed.

Achievements and Performance

In line with the charity’s objectives, grants of £528k were awarded in 2024/25. Further details are given in Note 2 to the Statement of Financial Activities.

Risk Management

The trustee is made aware of any issues with possible detrimental effects upon the Fund as they arise. There were no such issues during 2024/25.

The accounts are prepared in accordance with the Host Authority’s Corporate Governance policies such as Financial Procedure Rules, Contract Procedure Rules, Codes of Conduct and Scheme of Delegation. The trustee is aware that investment values can decrease as well as increase.

Page 7 of 23

Welsh Church Act Fund 2024/25

Statement of the Trustee’s Responsibilities

The trustee is responsible for preparing the Trustee’s Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustee is required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustee is responsible for the maintenance and integrity of the charity and financial information included on its website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

By order of the Trustee

Signed:

On behalf of the Trustee…………………………………………..

Date………………………..

Page 8 of 23

Welsh Church Act Fund 2024/25

The independent auditor’s report of the Auditor General for Wales to the trustee of The Welsh Church Act Fund within the areas of Rhondda Cynon Taf, Bridgend and Merthyr Tydfil County Borough Councils

Opinion on financial statements

I have audited the financial statements of The Welsh Church Act Fund within the areas of Rhondda Cynon Taf, Bridgend and Merthyr Tydfil County Borough Councils (the Fund) for the year ended 31[st] March 2025 under the Charities Act 2011.

The financial statements comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes, including the material accounting policies.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In my opinion the financial statements:

• give a true and fair view of the state of affairs of the charity as at 31[st] March 2025 and of its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the Charities Act 2011.

Basis for opinion

I conducted my audit in accordance with applicable law and International Standards on Auditing in the UK (ISAs (UK)) and Practice Note 10 ‘Audit of Financial Statements and regularity of Public Sector bodies in the United Kingdom’. My responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of my report.

My staff and I are independent of the charity in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK including the Financial Reporting Council’s Ethical Standard, and I have fulfilled my other ethical responsibilities in accordance with these requirements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.

Conclusions relating to going concern

In auditing the financial statements, I have concluded that the use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work I have performed, I have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the body’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from when the financial statements are authorised for issue.

My responsibilities and the responsibilities of the trustee[s] with respect to going concern are described in the relevant sections of this report.

Other Information

Page 9 of 23

Welsh Church Act Fund 2024/25

The other information comprises the information included in the annual report other than the financial statements and my auditor’s report thereon. The trustee[s] [is/are] responsible for the other information contained within the annual report. My opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in my report, I do not express any form of assurance conclusion thereon. My responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact.

I have nothing to report in this regard.

Matters on which I report by exception

I have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require me to report to you if, in my opinion:

• I have not received all of the information and explanations I require for my audit;

• sufficient accounting records have not been kept, or returns adequate for my audit have not been received from branches not visited by my team;

• the financial statements are not in agreement with the accounting records and returns; or

• the information given in the financial statements is inconsistent in any material respect with the trustee report.

Responsibilities of the trustees for the financial statements

As explained more fully in the statement of trustee’s responsibilities, the trustee is responsible for:

• maintaining sufficient accounting records;

• the preparation of the financial statements in accordance with the applicable financial reporting framework and for being satisfied that they give a true and fair view;

• internal controls as the trustees determine is necessary to enable the preparation of financial statements to be free from material misstatement, whether due to fraud or error;

• assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees anticipate that the services provided by the charity will not continue to be provided in the future.

Auditor’s responsibilities for the audit of the financial statements

I have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

My objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes my opinion. Reasonable assurance is a high level

Page 10 of 23

Welsh Church Act Fund 2024/25

of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. I design procedures in line with my responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

My procedures included the following:

• Enquiring of management, the head of internal audit and those charged with governance, including obtaining and reviewing supporting documentation relating to fund’s policies and procedures concerned with:

• identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

• detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and

• the internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations.

• Considering as an audit team how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, I identified potential for fraud in the following areas: revenue recognition, expenditure recognition and the posting of unusual journals;

• Obtaining an understanding of fund’s framework of authority as well as other legal and regulatory frameworks that the Fund operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Fund.

• Obtaining an understanding of related party relationships.

In addition to the above, my procedures to respond to identified risks included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above;

• enquiring of management, the Council and legal advisors about actual and potential litigation and claims;

• reading minutes of meetings of those charged with governance and the trustees;

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business

I also communicated relevant identified laws and regulations and potential fraud risks to all audit team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

The extent to which my procedures are capable of detecting irregularities, including fraud, is affected by the inherent difficulty in detecting irregularities, the effectiveness of the Fund’s controls, and the nature, timing and extent of the audit procedures performed.

Page 11 of 23

Welsh Church Act Fund 2024/25

A further description of the auditor’s responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of my auditor’s report.

Other auditor’s responsibilities

I communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that I identify during my audit.

Adrian Crompton 1 Capital Quarter Auditor General for Wales Tyndall Street [Date] Cardiff CF10 4BZ

Page 12 of 23

Welsh Church Act Fund 2024/25

Statement of Financial Activities for the year ended 31st March 2025

		Note	Unrestricted Funds	Unrestricted Funds
			2024/25 £’000	2023/24 £’000
	Income and Endowments from: Investments Total Income and Endowments Expenditure on: Charitable Activities Other Total Expenditure Net Gains/(Losses) on Investments Net Income/(Expenditure) Net Movement in funds Reconciliation of Funds Total Funds Brought Forward at 1stApril Total Funds Carried Forward at 31st March	1 2 3	412	365
			412	365
			(566) (10)	(517) (6)
			(576)	(523)
			(285)	967
			(449)	809
			(449) 13,993	809 13,184
			13,544	13,993

The notes contained on pages 18 - 21 form part of these Accounts.

Page 13 of 23

Welsh Church Act Fund 2024/25

Balance Sheet as at 31st March 2025

		Note	31/03/25	31/03/24
			£’000	£’000
	Fixed Assets Investments Current Assets Debtors Cash at Bank Current Liabilities Creditors: Amounts falling due within one year Net Current Assets Creditors: Amounts falling due after more than one year Total Net Assets Represented By: The Funds of the charity: Unrestricted Funds Total Unrestricted Funds	1 2 3	13,395	14,176
			13,395	14,176
			121 298	103 55
			419	158
			(270)	(34 1)
			149	(183)
			0	0
			13,544	13,993
			13,544	13,993
			13,544	13,993

The notes contained on pages 21 - 22 form part of these Accounts.

Page 14 of 23

Welsh Church Act Fund 2024/25

Statement of Cash Flows for the year ended 31st March 2025

		Note	2024/25	2023/24
			£’000	£’000
	Cash Flows from Operating Activities: Net Cash Provided by (Used in) Operating Activities Cash Flows from Investing Activities: Dividends, Interest, Rents from Investments, Treasury Gilts Maturation Net Cash Provided by (Used in) Investing Activities Cash Flows from Financing Activities Net Cash Provided by (Used in) Financing Activities Change in Cash and Cash Equivalents in the Reporting Period Cash and Cash Equivalents at the Beginning of the Reporting Period Cash and Cash Equivalents at the End of the Reporting Period	1	(652)	(614)
			895	369
			895	369
			0	0
			0	0
			243 55	(245) 300
			298	55

The notes contained on page 23 form part of these Accounts.

Signed: Date:

Barrie Davies Deputy Chief Executive / Group Director – Corporate Resources (Section 151 Officer)

Rhondda Cynon Taf CBC Llys Cadwyn 2 Pontypridd CF37 4TH

Page 15 of 23

Welsh Church Act Fund 2024/25

Accounting Policies

Accounting Policies are the principles, bases, conventions and rules by which transactions are recognised, measured and presented in the accounts.

Basis of Preparation

The financial statements are prepared under the historical cost convention as modified by the inclusion of investments at market value and in accordance with the Financial Reporting Standard for Smaller Entities.

The financial statements have been prepared in accordance with the legal requirements contained in the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 (SI 2008 No 629) and the Charities Statement of Recommended Practice 2019 (FRS102) except where stated otherwise.

Incoming Resources Policy

Income is credited to the fund in the year to which it relates regardless of when the income is actually received.

Resources Expended Policy

Expenditure is included on an accruals basis i.e. charged to the year to which it relates regardless of when the expenditure is made.

Grants Payable Policy

Grants payable are charged in the year when the offer is conveyed to the recipient. Unused grants are written back when written confirmation is provided stating that funding is no longer required.

Management and Administration Policy

The allocation of Central Support Services costs to the Fund is based upon an estimate of the time spent by employees of Rhondda Cynon Taf CBC in undertaking work associated with the Fund.

Investment Properties

Investment properties are recorded in the accounts at the most recent valuation of market value. Any difference in value arising out of the periodic revaluations will be charged/credited to Unrestricted Funds. The most recent valuation was at 31[st] December

Page 16 of 23

Welsh Church Act Fund 2024/25

2024 and was carried out by Chris Clarke Surveyors Ltd. In accordance with FRS 102, investment properties are not depreciated.

Fixed Asset Investments (Other Than Property)

Long Term Investments are recorded in the accounts at current market value. Rhondda Cynon Taf CBC, as Host Authority, administers investments on behalf of the Fund. The Treasury Management Policy statement of the Host Authority governs all such transactions.

Any unrealised and realised gains and losses on revaluation and disposal are combined in the Statement of Financial Activities.

Fund Structure

All funds are unrestricted.

Trustee Remuneration and Expenses

The trustee has not received any remuneration or expenses in the year 2024/25.

Policy on Reserves

Reserves are unrestricted and held for the future use of the Fund for the purposes specified in the Trust Deed.

Policy on Investments of Cash

Cash is deemed to be sums of money available for immediate use by the Welsh Church Fund. Such items are cash balances held in the Fund’s bank account (less unpresented cheques). The Welsh Church Fund does not hold Cash in Hand.

Policy on Debtors and Creditors

Debtors are amounts recoverable, based on the amount the Charity anticipates it will receive. There is no bad debt provision included within the Statements. Creditors are amounts due from the Welsh Church Act Fund.

Policy on Going Concern

The trustee is responsible for keeping proper accounting records and produce financial statements that comply with the provisions of the trust deed. The Fund is therefore prepared on the basis of a going concern.

Page 17 of 23

Welsh Church Act Fund 2024/25

Notes to the Statement of Financial Activities

1. Investment Income

Investment Income
	2024/25 £’000	2023/24 £’000
Bank Interest	16	11
Interest on Investments	396	354
Total	412	365

2. Charitable Activities

During 2024/25 the Fund awarded total grants amounting to £528,262.43. Those organisations awarded grants equal to or greater than £3,000 are detailed below:

Organisation	Amount
	£
Abergorki Community Hall	10,798.92
Age Connects Morgannwg	13,190.00
ASD Rainbows, Mountain Ash	13,511.60
Blaenllechau Youth Project	4,082.40
Brackla Tabernacle Church, Bridgend	13,467.60
Cor Meibion Morlais, Ferndale	15,000.00
Darranlas Community Building	46,588.11
Darranlas Community Building	15,000.00
Darranlas Environmental Group	13,230.00
Darranlas Environmental Group	15,000.00
FUSE–Fern Partnership, Ferndale	13,205.70
Gellideg Foundation Group, Merthyr	13,705.33
Hebron Baptist Church, Dowlais, Merthyr	8,167.28
Hirwaun YMCA	10,105.52
Hope Baptist Church, Bridgend	12,681.36
Hope Church, Merthyr Tydfil	15,000.00
Hope Church, Rhondda	13,450.50
Horeb Congregational Church, Merthyr	10,440.36
Living Way Church, (Peniel Pentecostal, Tonypandy)	7,668.00
Llantrisant Parish Church	15,000.00
Mount Zion Pentecostal Church, Gelli	9,587.18
Mountain Ash Cricket Club	15,000.00
Parc and Dare Band, Treorchy	15,000.00
Penrhiwceiber Rangers AFC	14,378.04
Rhigos Community Sports	4,840.00
Rock UK, Trelewis	3,099.30
Seion Baptist Chapel, Maerdy	4,499.80
Spectacle Theatre, Porth	7,500.00
St David’s Church, Laleston, Bridgend	9,664.82
St David’s Church, Tonyrefail	11,659.45
St Dunstan’s Church, Ferndale	4,644.90
St George’s Church, Cwmparc	4,117.39
St John Evangelist Church, Cymmer	9,371.30

Page 18 of 23

Welsh Church Act Fund 2024/25

St Robert of Newminster RC Church, Aberkenfig	13,830.30
St Theodore’s Church, Theo’s Shop, Bridgend	9,476.55
Vine Christian Centre, Bridgend	15,000.00
Wales Council for the Deaf, Pontypridd	6,239.16
Welcome to our Woods, Treherbert	11,907.00
Ynysybwl Regeneration Partnership	50,000.00
Subtotal of grants equal to or greater than £3,000 (39 in number)	499,107.87
Grants less than £3,000(12 in number)	29,154.56
Total grants payable for 2024/25(51 in number)	528,262.43
Grants written back to the fund, refunds and under reserved	(18,256.70)
Accounting and Technical Support	56,092.90
Total Charitable Activities as per Statement of Financial Activities	566,098.63

The Welsh Church Fund only awards grants to institutions.

The following table gives a summary analysis of grants awarded by the nature of the project during 2024/25:

Analysis	Total Amount of Grant Awarded	Total Number of Grants
	£
Social and recreational	82,247.34	8
Other charitable purposes	255,940.79	21
Places of worship	190,074.30	22
Libraries, Museums and Art Galleries	0	0
Total	528,262.43	51

3. Other Costs

	2024/25 £’000	2023/24 £’000
Audit Fees	(10)	(6)
Total	(10)	(6)

4. Related Party Transactions

4.1 Related Transactions with Administrating Authority

Page 19 of 23

Welsh Church Act Fund 2024/25

Organisation	Nature of Interest	Welsh Church Act Fund Transactions with Organisation	Welsh Church Act Fund Transactions with Organisation	Welsh Church Act Fund Transactions with Organisation	Welsh Church Act Fund Transactions with Organisation
		Net Value £’000		Balance Outstanding as at 31st March 2025 £’000
		Payments	Receipts	Payments	Receipts
Rhondda Cynon Taf CBC	Accounting & Technical Support	(56)	0	0	0
Rhondda Cynon Taf CBC	Interest Receivable	0	16	0	16
Total		(56)	16	0	16

4.2 Related Transactions with Members of the Council

Organisation	Member’s Relationship	Amount Awarded	Amount Awarded	Outstanding Amount	Outstanding Amount
		2024/25	2023/24	31/03/25	31/03/24
Darranlas Environmental Group,Mountain Ash	Member	28,230	7,938	15,000	0
Darranlas Community Building,Mountai n Ash	Member	64,528	5,655	0	0
ASD Rainbows	Trustee	13,512	0	13,512	0
Penrhiwceiber Rangers AFC	Member	14,378	0	14,378	0
Fernhill & Glenboi Community centre	Member	0	0	2,384	2,384
Friends of Tynybryn Park	2 Members	0	0	0	50,000
Cor Meibion, Abercynon	Vice President	0	1,421	0	0
Maesyffynnon Allotments, Aberdare	Member	0	2,160	0	0
Great Western Colliery Preservation Trust Ltd.	Director	0	10,000	0	10,000
Cambrian Village Trust	Board Member	0	50,000	25,000	50,000

Page 20 of 23

Welsh Church Act Fund 2024/25

Nos Galan Committee	4 Members	0	1,716	0	0

Notes to the Balance Sheet

1. Fixed Asset Investments

1.1 Analysis of Movement in Investments

An analysis of the fixed assets held as investments for the charity is provided below:

	Land £’000	Securities £’000	Totals £’000
1stApril 2024	44	14,132	14,176
Net Surplus / (Loss) on Revaluation	31	(316)	(285)
2 ½ % Index linked Stock Maturation	0	(496)	(496)
Market Value at 31st March 2025	75	13,320	13,395

1.2 Investment Securities Analysis

	31/03/25 £’000	31/03/24 £’000
Government Stock	0	495
Charities Official Investment Fund	8,812	9,243
Charities Official Fixed Interest Fund	4,508	4,394
Total Market Value	13,320	14,132
Historical Cost	7,167	7,289

2. Debtors

An analysis of debtors as at 31[st] March 2025 is provided below:

	31/03/25 £’000	31/03/24 £’000
Amounts due from RCT CBC	16	11
Accrued Interest on Investments	105	92
Total	121	103

• 2.1 Accrued Interest relates to investment income relating to 2024/25 paid in 2025/26. It is made up as follows:

Page 21 of 23

Welsh Church Act Fund 2024/25

	£’000
COIF Fixed Interest Fund	64
COIF Investment Fund	41
2 ½ % Index Linked 2024	0
Total	105

3. Creditors: Amounts Falling Due Within One Year

An analysis of creditors as at 31[st] March 2025 is as follows:

	31/03/25	31/03/24
	£’000	£’000
Miscellaneous Charitable Organisations	(262)	(322)
Audit Wales–fee accrual	(8)	(12)
Rhondda Cynon Taf CBC	0	(7)
Total	(270)	(341)

Notes to the Cash Flow

Page 22 of 23

Welsh Church Act Fund 2024/25

1. Reconciliation of Net Income/(Expenditure) to Net Cash Flow from Operating Activities

	2024/25	2023/24
	£’000	£’000
Net Income/(Expenditure) as per the Statement of Financial Activities Adjustments for: (Gains)/Losses on Investments Dividends, Interest and Rents from Investments (Increase)/Decrease in Debtors Increase/(Decrease) in Creditors	(449) 285 (412) (5) (71)	809 (967) (365) (4) (87)
Net Cash Provided by (used in) Operating Activities	(652)	(614)

Page 23 of 23