## ||||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||| ## ## ## ## ## ## # ## ## ## ## ## # ## ## ## ## ## ## ## ## ## ## ## ## ## |Ib0I-||Ol
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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| |Ib0I-|||0l
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0.|| ## ## ## ||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| ||||||||||N
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Ib0O| ## ## ## ## |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|