| Page | |||
|---|---|---|---|
| Trust Directors' report | 1-10 | ||
| Statement oftrust directors' | responsibilities | ||
| Independent auditor's |
report | 12 - 14 | |
| Statement offinancial | activities | 15-16 | |
| Balance sheet | 17 - 16 | ||
| Statement ofcash flows |
|||
| Notes to the financial | statements | 20-39 |
| COIF Charities Deposit Fund | COIF Charities Deposit Fund | ||
|---|---|---|---|
| Trinity Bargoed | |||
| A13 - Mold | |||
| B05 - Barham | |||
| B49 - Crane Street Church, | Pontypool | ||
| F19- Tabernacle URC, Rhayader |
(outside Trusts) | ||
| B16- Bailey Street Uniting | Church | ||
| E17 - MDF St John's Tenby | |||
| E08 - MDF Christchurch | |||
| COIF Charities Ethical Investment |
Fund Accumulated | ||
| A26 - MDF Rivertown Shotton |
|||
| A04- MDF StJohns Flint | |||
| C03 - Barry Uniting Church |
|||
| C14 - MDF Canton Uniting |
|||
| H02 - MDF Talgarth United |
|||
| A08 - MDF Tabernacle Holywell |
|||
| B36 - Hanover (South Korea Church Grant) | |||
| A21 - Rhos on Sea | |||
| H10 - Upper Chapel | |||
| C38 - Abertridwr (Investment) |
|||
| Pembrokeshire Legacy |
|||
| MDF - Sketty | |||
| COIF Charities Ethical Investment |
Fund Income Units | ||
| C38 - Abertidwr (Income) |
|||
| B26- Libanus Ebbw Vale re Tabernacle | |||
| F15 - Llanddindod Wells |
|||
| Wallace Family Memorial Fund |
|||
| A04 - StJohns Flint | |||
| Trinity Bargoed | |||
| B43 - Mynyddislwyn | |||
| F25 - Glasbury (H06 —Maesyronnen) | |||
| Star Street Congregational | Chapel | (URC name: Trust Property | Held ICW Star Street) |
| D28 - Hill | |||
| John Humprheys Memorial |
Fund |
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| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | 6 | ||||
| Fixed assets | |||||
| Tangible assets | 12 | 3,940,790 | 3,354,720 | ||
| Investments | 13 | 3,831,672 | 3,974,198 | ||
| 7,772,462 | 7,328,918 | ||||
| Current assets | |||||
| Debtors falling due | after cne year | 14 | 50,000 | 50,000 | |
| Debtors falling due | within one year | 14 | 26,178 | 23,457 | |
| Cash at bank and | in hand | 912,471 | 1,078,859 | ||
| 988,649 | 1,152,316 | ||||
| Creditors: amounts falling due within |
|||||
| one year | 15 | (49,400) | (12,987) | ||
| Met current assets | 939,249 | 1,139,329 | |||
| Total assets less | current liabilities | 8,711,711 | 8,468,247 | ||
| Capital funds | |||||
| Endowment funds |
—general | 157,352 | 144,121 | ||
| Income funds | |||||
| Restricted funds | 17 | 184,446 | 153,704 | ||
| llQIggftigfkd funds |
|||||
| Desi9nated funds |
18 | 5,487,188 | 5,440,804 | ||
| General unrestricted funds |
2,882,725 | 2,729,618 | |||
| 8,369,913 | 8,170,422 | ||||
| 8,711,711 | 8,468,247 |
| 2920 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | 6 | h | |||||
| Cash flows from operating | activities | ||||||
| Cash (absorbed by)/generated |
from | 23 | |||||
| operations | (18,408) | 75,905 | |||||
| Investing | activities | ||||||
| Purchase | oftangible fixed assets | (593,438) | (368) | ||||
| Proceeds | on disposal oftangible fixed |
||||||
| assets | 292,781 | ||||||
| Purchase | of investments | (500,000) | |||||
| Proceeds | on disposal of investments | 321,020 | 45,240 | ||||
| Investment | income received | 124,438 | 120,803 | ||||
| Met cash | used in investing | activities | (147,980) | (41,544) | |||
| Met cash | used in financing | activities | |||||
| Met (decrease)/increase in |
cash and cash | ||||||
| equivalents | (166,388) | 34,361 | |||||
| Cash and | cash equivalents at beginning |
ofyear | 1,078,859 | 1,044,498 | |||
| Cash and | cash equivalents | at end of | year | 912,471 | 1,078,859 |
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2020f | 2020f | 2020 f |
2019 f |
2019f | 2019 f |
||
| Donations and gifts | 34,437 | 331 | 34,768 | 35,865 | 829 | 38,694 | |
| Grants | 279,187 | 31,743 | 310,930 | 332,820 | 8,165 | 340,985 | |
| 313,624 | 32,074 | 345,698 | 368,685 | 8,994 | 377,679 | ||
| Donations and gifts | |||||||
| Ministry and mission | / | ||||||
| church collections | 33,489 | 33,489 | 35,305 | 35,305 | |||
| Other donations | 948 | 331 | 1,279 | 560 | 829 | 1,389 | |
| 34,437 | 331 | 34,768 | 35,865 | 829 | 36,694 |
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| Unrestricted | Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2020 | 2020 | 2020 | 2019 | 2019 | 2019 | ||
| 8 | 8 | 6 | 6 | ||||
| Net gain on disposal | of | ||||||
| tangible fixed assets |
7,566 | 7,566 | |||||
| Property sales | 132,138 | 132,138 | |||||
| Property management |
|||||||
| fees | 600 | 600 | 25,661 | 25,661 | |||
| Miscellaneous | 17,708 | 1,373 | 19,081 | 28,122 | 1,600 | 29,722 | |
| 18,308 | 1,373 | 19,681 | 193,487 | 1,600 | 195,087 | ||
| Charitable activities |
|||||||
| 2020f | 2019 8 |
||||||
| Staff costs | 152,986 | 153,528 | |||||
| Depreciation and impairment |
7,369 | 7,476 | |||||
| Grants Payable | 70,710 | 132,418 | |||||
| Children and youth development |
56,000 | 55,251 | |||||
| Trust costs | 7,824 | 11,325 | |||||
| Training | 11,549 | 31,850 | |||||
| Property costs | 38,547 | 38,474 | |||||
| Premises costs | 8,807 | 3,992 | |||||
| Office costs | 8,415 | 8,817 | |||||
| Staff expenses | 2,032 | 5,575 | |||||
| MoM Pilot Project | 14,991 | 9,170 | |||||
| 379,230 | 457,876 | ||||||
| Share ofgovernance | costs (see | note 7) | 45,618 | 38,869 | |||
| 424,848 | 496,745 | ||||||
| Analysis by fund |
|||||||
| Unrestdicted funds |
411,558 | 451,497 | |||||
| Restricted funds | 13,290 | 45,248 | |||||
| 424,848 | 496,745 |
| Support | costs | |||||
|---|---|---|---|---|---|---|
| Support | Governance | 2020Support costs | Governance | 2019 | ||
| costs | costs | costs | ||||
| 6 | 8 | E | 6 | |||
| Audit fees | 8,898 | 8,898 | 3,769 | 3,769 | ||
| Legal and | professional | 36,720 | 36,720 | 35,100 | 35,100 | |
| 45,618 | 45,618 | 38,869 | 38,869 | |||
| Analysed | between | |||||
| Charitable | activities | 45,618 | 45,618 | 38,869 | 38,869 |
| 2020 | 2019 | |
|---|---|---|
| Number | Number | |
| Employment costs |
2020 | 2019 |
| 6 | ||
| Wages and salaries | 107,301 | 107,835 |
| Social security costs | 9,106 | 9,434 |
| Other pension costs | 36,579 | 36,259 |
| 152,986 | 153,528 |
| Total | Endowment | ||
|---|---|---|---|
| funds | |||
| general | |||
| 2019 | |||
| Grants | payable |
| Tangible fix | ed assets | |||||
|---|---|---|---|---|---|---|
| Freehold land |
Leasehold | F&stures and | Total | |||
| and buildings | land and | gttlngs | ||||
| bugdlngs | ||||||
| 6 | ||||||
| Cost | ||||||
| At 1 January | 2020 | 3,419,427 | 134,633 | 30,334 | 3,584,394 | |
| Additions | 592,328 | 1,110 | 593,438 | |||
| At 31 December 2020 | 4,011,755 | 134,633 | 31,444 | 4,177,832 | ||
| Depreciation | and impairment | |||||
| At 1 January | 2020 | 98,252 | 102,762 | 28,659 | 229,673 | |
| Depreciation | charged | in the year | 6,730 | 639 | 7,369 | |
| At 31 December 2020 | 98,252 | 109,492 | 29,298 | 237,042 | ||
| Carrying amount |
||||||
| At 31 December 2020 | 3,913,503 | 25,141 | 2,146 | 3,940,790 | ||
| At 31 December 2019 | 3,321,175 | 31,871 | 1,674 | 3,354,720 |
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| 14 | Debtors | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Amounts | falling due | within one year: | 8 | 8 | |
| Other debtors | 26,178 | 23,457 | |||
| Amounts | falling due | after more than one year: | |||
| Other debtors | 50,000 | 50,000 | |||
| Total debtors | 76,178 | 73,457 | |||
| 15 | Creditors: | amounts | falling due within one year | ||
| 2020 | 2019 | ||||
| 8 | 8 | ||||
| Other creditors | 49,400 | 12,987 |
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| deficit of85,445,000.T | he assumptions | underlying that val |
uation include: |
|
|---|---|---|---|---|
| Discount rate: | pre-retirement | 4.9%,post-retirement | 1.8% | |
| Pensionable earnings |
growth: | 2.45%for three | years, 2.7%thereafier | |
| Future pension increases: | 2 20% | |||
| Retirement age (active |
members): | 65, with maximum commutation |
| 23 | Cash generated from operations |
Cash generated from operations |
2020 | 2019 | ||
|---|---|---|---|---|---|---|
| 0 | 6 | |||||
| Surplus for the year | 243,464 | 690,008 | ||||
| Adjustments for: |
||||||
| Investment income recognised |
in statement | offinancial activities | (124,438) | (120,803) | ||
| Gain on disposal oftangible fixed assets | (7,566) | |||||
| Fair value gains and losses on | Investments | (178,495) | (493,350) | |||
| Depreciation and impairment oftangible |
fixed assets | 7,369 | 7,476 | |||
| Movements in working capital: |
||||||
| (Increase)/decrease in debtors |
(2,721) | 56,590 | ||||
| Increase/(decrease) in creditors |
36,413 | (56,450) | ||||
| Cash (absorbed by)/generated |
from operations | (18,408) | 75,905 | |||
| 24 | Analysis ofchanges in net funds |
|||||
| The trust had no debt during the year. |
| 2020 | 2020 | 2019 | 2019 | |||
|---|---|---|---|---|---|---|
| 8 | 8 | 6 | 6 | |||
| income | ||||||
| Donations | 699 | 350 | ||||
| Investment Dividends |
77,688 | 75,296 | ||||
| ISRS Grant | 219,000 | 242,000 | ||||
| Ministry &Mission | IChurch Collections | 33,489 | 35,305 | |||
| Miscellaneous | 16,336 | 66,756 | ||||
| Other Grants | Received | 39,653 | 90,820 | |||
| Profit on Disposal | 891 | |||||
| Property Income |
670 | 129,302 | ||||
| Total | 387,535 | 640,520 | ||||
| Expenditure | ||||||
| Audit Fees | 8,898 | 3,769 | ||||
| Children and |
Youth | Development | 56,000 | 55,251 | ||
| Depreciation | 7,369 | 7,476 | ||||
| Grants Payable | 5,832 | 55,331 | ||||
| MoM Pilot Project | 7,421 | 2,100 | ||||
| Office Costs | 8,415 | 8,817 | ||||
| Premises Costs | 8,807 | 3,991 | ||||
| Professional | Fees | 36,000 | 35,100 | |||
| Property Costs | 18,190 | 8,381 | ||||
| Staff Expenses | 1,502 | 3,871 | ||||
| Training | 3,187 | 2,502 | ||||
| Trust Costs | 7,765 | 11,265 | ||||
| Wages | 152,986 | 153,528 | ||||
| Total | (322,372) | (351,382) | ||||
| Revaluations | 87,944 | 233,891 | ||||
| Net Novementin | Funds | 153,107 | 523,029 |
| Designated | Funds | |||||
|---|---|---|---|---|---|---|
| itlanse Fund | - Income and Expenditure | |||||
| 2020 | 2020 | 2019 | 2019 | |||
| 6 | E | f | E | |||
| income | ||||||
| Property Income | 18,969 | 2,602 | ||||
| Investment Dividends |
1 | 1 | ||||
| Donations | 249 | |||||
| Miscellaneous | 1,336 | 444 | ||||
| Total | 20,555 | 3,047 | ||||
| Expenditure | ||||||
| Grants Payable - Ecumenical | 135 | 1,840 | ||||
| Property Costs | 20,356 | 30,093 | ||||
| Training | 440 | |||||
| Professional | Fees | 720 | ||||
| Expenses for Synod Officers' manses | ||||||
| (Surplus) on | disposal ofproperty | |||||
| Total | (21,651) | (31,933) | ||||
| Revaluations | 49,512 | 123,933 | ||||
| Net Movement in Funds | 48,416 | 95,047 | ||||
| Grants and Loans Fund - Income and | Expenditure | |||||
| 2020 | 2020 | 2019 | 2019 | |||
| 6 | E | E | E | |||
| Income | ||||||
| Other Grants | Received | 20,534 | ||||
| Total | 20,534 | |||||
| Expenditure | ||||||
| Grants Payable | 37,269 | 10,844 | ||||
| MoM Pilot Project | 7,570 | 7,070 | ||||
| Training | 1,776 | |||||
| Total | (46,615) | (17,914) | ||||
| Revaluations | ||||||
| Net Novement in Funds | (26,081) | (17,914) |
| Mission | Development | Development | Fund - Income and Expenditure | Fund - Income and Expenditure | ||||
|---|---|---|---|---|---|---|---|---|
| 2020 | 2020 | 2019 | 2019 | |||||
| f | f | f | f | |||||
| income | ||||||||
| Property | Income | 49,197 | ||||||
| Investment Dividends |
11,799 | 13,119 | ||||||
| Miscellaneous | (39,079) | |||||||
| Total | 11,799 | 23,237 | ||||||
| Expendi | turn | |||||||
| Grants | Payable | 20,000 | 40,000 | |||||
| Total | (20,000) | (40,000) | ||||||
| Revaluations | 12,573 | 38,918 | ||||||
| Net Movementin | Funds | 4,372 | 22,155 | |||||
| Daphne | &Bethan | Jones Memorial | Fund - Income and | Expenditure | ||||
| 2020 | 2020 | 2019 | 2019 | |||||
| f | f | f | f | |||||
| income | ||||||||
| Miscellaneous | 35 | |||||||
| Total | 35 | |||||||
| Expenditure | ||||||||
| Grants | Payable | 920 | 1,490 | |||||
| Total | (920) | (1,490) | ||||||
| Revaluations | 13,190 | 24,467 | ||||||
| Net Movement in | Funds | 12,305 | 22,977 |
| Livingstone | Trust - Income and Expenditure | Trust - Income and Expenditure | ||||
|---|---|---|---|---|---|---|
| 2020 | 2020 | 2019 | 2019 | |||
| 8 | 6 | 6 | ||||
| income | ||||||
| Investment | Dividends | 4,881 | 5,040 | |||
| Total | 4,881 | 5,040 | ||||
| Expenditure | ||||||
| Grants Payable | - Mission | 3,750 | ||||
| Total | (3,750) | |||||
| Revaluations | 6,564 | 16,710 | ||||
| Net Novementin | Funds | 11,445 | 18,000 | |||
| Lay Preaching | -Income and Expenditure | |||||
| 2020 | 2020 | 2019 | 2019 | |||
| 6 | 6 | 6 | 6 | |||
| income | ||||||
| Donations | 210 | |||||
| Investment | Dividends | 1,325 | ||||
| Total | 1,325 | 210 | ||||
| Expenditure | ||||||
| Training | 5,027 | |||||
| Total | (5,027) | |||||
| Revaluations | 3,514 | 8,490 | ||||
| Net Movement in Funds | 4,839 | 3,673 |
| John Humphreys | John Humphreys | Memorial | Fund - Income and Expenditure | ||||
|---|---|---|---|---|---|---|---|
| 2020 | 2020 | 2019 | 2019 | ||||
| f | f | f | f | ||||
| income | |||||||
| Total | |||||||
| Expenditure | |||||||
| Total | |||||||
| Revaluations | 352 | 550 | |||||
| Net Movement | in | Funds | 352 | 850 | |||
| Contingency | Fund - Income | and Expenditure | |||||
| 2020 | 2020 | 2019 | 2019 | ||||
| f | f | f | f | ||||
| income | |||||||
| Total | |||||||
| Expenditure | |||||||
| Total | |||||||
| Revaluations | (9,264) | 12,899 | |||||
| Net Movement | in | Funds | (9,264) | 12,899 |
| Training Fund - Income |
Training Fund - Income |
and Expenditure | ||||
|---|---|---|---|---|---|---|
| 2020 | 2020 | 2019 | 2019 | |||
| 8 | 8 | 8 | 8 | |||
| income | ||||||
| Investment Dividends |
5,198 | 6,482 | ||||
| Other Grants | Received | 2,832 | 8,165 | |||
| Donations | 330 | 829 | ||||
| Miscellaneous | 1,374 | 1,600 | ||||
| Total | 9,734 | 17,076 | ||||
| Expenditure | ||||||
| Grants Payable | 6,543 | 14,090 | ||||
| Staff Expenses | 530 | 1,704 | ||||
| Training | 6,146 | 29,348 | ||||
| Trust Costs | 60 | 60 | ||||
| Total | (13,279) | (45,202) | ||||
| Revaluations | 5,387 | 12,689 | ||||
| Net lrtovement in Funds | 1,842 | (15,437) | ||||
| Glamorgan | Chaplaincy | Fund - Income and Expenditure | ||||
| 2020 | 2020 | 2019 | 2019 | |||
| 8 | 8 | 8 | 8 | |||
| income | ||||||
| Total | ||||||
| Expenditure | ||||||
| Total | ||||||
| Revaluations | ||||||
| Net fftovement in Funds |
| Pantyfedwen | Pantyfedwen | -Income and Expenditure | -Income and Expenditure | ||||
|---|---|---|---|---|---|---|---|
| 2020 | 2020 | 2019 | 2019 | ||||
| 0 | 8 | 8 | 8 | ||||
| Income | |||||||
| Investment | Dividends | 3,368 | 3,295 | ||||
| Total | 3,368 | 3,295 | |||||
| Expenditure | |||||||
| Total | |||||||
| Revaluations | 6,717 | 16,226 | |||||
| Net 5tovementin | Funds | 10,065 | 19,521 |