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THE GLYN NEST BAPTIST HOME

Registered charity 1160563 · accounts filings on the Charity Commission register · also known as GLYN NEST CARTREF Y BEDYDDWYR; GLYN NEST BAPTIST HOME

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Latest income
£1.2m
Latest spending
£1.3m
Registered
2015
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that the charity reported a deficit of £60,163 for the year ended 31 December 2024, driven by increased agency staff costs. Per the trustees' report, unrestricted reserves stood at £1,646,345, which is above the stated policy target of £300,000. The financial statements were prepared on a basis other than going concern due to the planned transfer of assets to a new company.

What the accounts disclose

Reserves policy: three months of unrestricted expenditure (held: £1.6m)
“The policy is to ensure that the charity has sufficient free and available funds to meet at least 6 months of annual budgeted expenditure. In addition the Trustee considers it is prudent to provide for a further 3 months for efficient running of the Home. At 31 December 2024, this figure is estimated at £300,000.” — page 9
Per its FY2024 accounts as filed with the Charity Commission.
Going concern: noted by the trustees or auditor
“The trustees do not, therefore, consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.” — page 11
Per its FY2024 accounts as filed with the Charity Commission.

Accounts audited by Ellis Lloyd Jones Audit Limited. Discloses 5 of 6 completeness components.

Structured financials (annual return, FY ending 31/12/2024)

Total income
£1.2m
Total spending
£1.3m
Reserves (reported)
£300k
Employees
34

Reported reserves equal ~2.8 months of spending — below the median for charities its size (median 4.8 months; benchmarks).

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Carmarthenshire

Income and spending

Financial year endIncomeSpending
31/12/2024£1.2m£1.3m
31/12/2023£1.2m£1.2m
31/12/2022£795k£944k
31/12/2021£878k£868k
31/12/2020£845k£812k

Common questions

Is THE GLYN NEST BAPTIST HOME financially healthy?

The accounts state that the charity reported a deficit of £60,163 for the year ended 31 December 2024, driven by increased agency staff costs. Per the trustees' report, unrestricted reserves stood at £1,646,345, which is above the stated policy target of £300,000. The financial statements were prepared on a basis other than going concern due to the planned transfer of assets to a new company. Its FY2024 accounts were audited by Ellis Lloyd Jones Audit Limited.