Swansea Valley Bible Church
Trustees’ Annual Report for the Period to 31st March 2021
Swansea Valley Bible Church (an unincorporated association), Unit 19, Ynyscedwyn Enterprise Park, Ystradgynlais, Powys is registered with the Charity Commissioners (No. 1065893) and is constituted by Deed of Trust.
The charity is administered by a management committee, comprising:
| Chairman | - | Mr Andrew Yeoman | (Trustee) |
|---|---|---|---|
| - | Mr Ceirion Harries | (Trustee) | |
| Secretary | - | Mr Barnabas Harper | (Trustee) |
| - | Mr Richard Steadman | (Trustee) | |
| - | Mr Andrew Grifiths | (Trustee) | |
| - | Mr Matthew Rees | (Trustee) | |
| Treasurer | - | Mr Andrew Piddington |
The object of the charity remains the advancement of the Christian Faith by the proclamation and furtherance of the Gospel of God concerning His Son Jesus Christ the Lord and the preaching and teaching of the Word of God (The Holy Bible) by the Church. Accordingly, such other charitable purposes, as shall further the attainment of the above object, shall be carried out including community aid and activities for the benefit of the local community.
Membership & Attendance
This year was strange in many respects. The outbreak of COVID-19 and the consequent lockdowns resulted in the temporary suspension of almost all in-person activities. All clubs within all branch churches were temporarily closed, and any meetings were moved almost entirely to Zoom gatherings online.
We’re pleased to be able to report that not only did we ‘survive’ the lockdown (in terms of membership and online attendance), in many respects (despite the suspension of many activities) we thrived as a charity, both in respect to finances and attendance.
As at 31[st] March 2021, the total membership of the charity was 59 individuals. With the shift to online meetings (both on Sunday and for mid-week prayer) at branch church level (instead of collectively), efforts to log attendances did lapse somewhat. However, all trustees would agree that attendance didn’t drop much at all, with figures equal to or greater than the previous year when meetings were in-person.
During the course of the year ministers of the church officiated at 4 funerals, but no infant dedications or baptisms.
The Mission Shop
Due to lockdown, the charity shop was only able to open in short spurts as eases in restrictions allowed. Neverthless, there was a nominal income to report for the financial year of £2,509. The net proceeds of the shop are designated for missionary activities both within Wales, the rest of the UK and abroad. This year, a total of £5,250 of these funds were donated to UK based missionaries including £2,250 COVID related support.
In addition to the charity shop income, rental income of £4,200 was received in respect of the two bedroomed flat. Also a Local Authority Covid Grant of £10,000 was received.
Charity Employees
Individuals employed by the charity during the year were:
-
Pastor A P Yeoman, Senior Minister (full-time, and also chair of trustees)
-
Pastor R Steadman, Associate Minister (part-time [1 day per week], and also a trustee)
-
Mrs H W Yeoman, Pastoral Team (part-time [2 days per week] and also spouse of Pastor A P Yeoman)
-
Cleaner: Miss Hayley Myles
Financial Summary
The charity is dependent on the financial commitment of members and other donations as the main source of income. Accordingly, total income for the year was £111,569 which included £12,509 designated funds in respect of the specific activities and projects.
Cash Reserves at the end of the year were £63,114 which included a balance of £2,017 in relation to the building projects. The available reserves equate to more than six months operational costs.
Payments to Kingdom Bank in respect of the mortgage against Hope Church (Garnant) & 9 Commercial Street (Ystradgynlais) during the year totalled £10,717, of which £2,794 was capital repaid (the balance being interest).
Conclusion
The charity continues to develop and promote itself in the region, and despite the setbacks of lockdown and consequent restrictions, it is the opinion of the Management Committee that the charity continues to
operate upon a solid foundation on which to sustain a continued growth in accordance with its constitution.
Barnabas Harper Trustee & Charity Secretary 31[st] January 2022 For and on behalf of the Management Committee
SVBC FINANCIAL SUMMARY 15tApri12020 to 3tstMar¢h 2021 SVBC Hope Cfv8rtty SVBCTots Total SHINE Swans Bulldln8 Fund VtyTun Offetll CtsvenantRec•pts HMRCGIftAid Donattons substriptlons.et sales of books, a>'5et Rertal &Stsndry Inrome IS.508 46,622 10,691 ISA55 3A52 340 24Q 19210 &598 4,94? 3.041 5.845 634 ¢568 20 43,876 14,307 9,610 634 515 11266 A55 20 509 142 2516 14300 ILO83 5.291 loo 88.383 53Y 16.709 1,040 salae5 & Wages ER'S pehsion ER'5 NIC MissSoKry5upport Travel ExpeDSÈS Arcomodation. mea&. 3llav4a mintry Glfts Gpods f¢1 resale ComThunityG¢ft5 8ullen$. flyers. books. kTranne Electricty 49.480 1.293 49A) 52,529 1213 525 3.076 Z168 1356 1965 1174 1,872 2,190 6D7 296 3A22 8572 456 607 22 614 1.173 1,487 38 811 652 407 1.626 176 420 1,310 3,773 Water Yelephon• Insurancès Licenses & Affillation fves BaDk Char8e5 & Intrrfst AccountsncysupptTrrt fincxerol Resourtss,TraiDing&equipme¢x Prernise5 reThtsllhlTe Buildlni malntenance & repair5 Securlty Prirtirt& P05tue, StstiOn &Web etG Cleanln8& RÈfusecollection Cothstjmables 99 275 55Z 77 461 92 37 8.153 3.168 93 34 4168 266 3.168 1.152 195 2,727 ITJ 43 195 1.307 641 L419 370 25 307 282 £243 395 414 783 Trt£wenSe. 73.0 I62 173 6327 81.6B3 IiW2 558 3070 rietlnromÈl(Expell5eJ. 4275 467 19J24 IQ762 -528 Pase One
SVBC Balance Sheet 35 at 3tst March 2021 8110zI rixod Land &alECting5 Fixture5&FItti CoMpters&E91pMertI 9?83 ILW5 11.805 To¢alFi¥ed Nssts 31L088 311 Debtors HMRCGiftAid OtFwprepawn¢nts 120 7,194 923 923 TvtJlCwrentA5sets 8.5ZJ a k &Cash Bar¢laysAccount MainAccourit Bulldln8 Fund iDeA¢tount Mums& To15 Oiher lideSrtvrhfkW) 3.103 25.017 3.392 102 49,419 17 114 4,077 TotalBank &Ca5h 6a.114 352 TOTALASSETS 378,312 Creditor5 MRCIPAYEINICI otherCreOltors&Accruals Kingdixn Bank Mortgage 2,147 1385 14L374 TOTAL LfABILmES 141.971 144.658 NEY A55ET5IuABILITIES Z36J42 O,W6 Re5 CurrentYearsurpJu5W2fiut PriDrYear5surptusldeficit ReIatn Reserve 24C67 .Z7S 120,( 13.740 76,266 ESERVES 236,342 Page Ywo
SVBC CHARITY SHOP 5TATEMENT- 31st March 2021 2021>21 Z019-20 2018-19 2017-18 201&17 2015-16 2014-15 201>14 2012-13 2011-12 20111 2009.10 Total 4mths 9mtt rnt 14nrth5 12 mth5 12mths Shop Income 2387 10,187 7500 9J17 10.665 11.011 ts.404 10.072 8.614 10.915 9,935 10,514 112.011 Monthty overoge 597 833 817 918 867 839 718 828 876 818 Missftons recelpts 118 618 3,213 3.949 Shop Rental 2,793 4Xrf) 4.8tyJ 4,8CQ 4,800 4,800 31,593 Missions Fundin Overseas missitrns Missitsn3ry Support Missionary gifts Tent Missions Missions Equipment Pencoed Kingdom Ablaze SHINE 676 2,4QK) 725 995 7¢)) 547 426 1,777 287 2.400 9W 584 1,369 1.993 10.079 24,450 5,670 4,698 3,653 3,583 564 9,000 5.250 565 1,085 495 950 3.613 1,2ry) 1.970 250 1,345 1,150 556 324 I,D57 240 2,0 2,0 Totsl Missions Fr1n8 5.250 5.075 5.IZ5 5.475 5,100 4y7 4.971 556S 4.737 8,317 2A99 4.636 61.698 55% 48% 44% Page Two
SVBC- BANK ACCOUNTS as at 3tst March 2021 Name Bank Sort Code Account No. BalarKe @ 3V0312021 Balance @ 3110312020 Old Main Accourrt Barclays 2(k58-72 70885383 7.487 SHINE LEoyds 30-93-53 03055563 114 102 Mi5510n5lMain Account Uoyd5 30-93-53 W634317 49.419 25.017 Youth Account Barclays 20-58-72 1,179 1,179 YOYO Account Uoyds 30-93-53 01828921 Mums & Tots Account Uoyds 30-93-53 03011566 797 Building Fund Lloyds 30-93-53 D1924688 2.017 3.392 OtherAccL)unts & Cash 1.894 457 Totsl Funds 63.114 35.OS2 Debtors HMRC- GiftAid 7,194 Cffditors HMRC- PAYE HMRC- NIC 1,253 5,761 8.230 Net Funds 64.034 39,776 Excl. Building Fund 62.017 36,384 Page Four
CHARITY (OMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Sectlon A Independent Examlner's Report Report to the trusteesl members of SWANSEA VALLEY BIBLE CHURCH On accounts for the year ended 31°, MARCH 2021 Charity no (if any) 1065893 Set out on pages I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 31103 12021. Responslbilities and basis of report As the charity's Iruslees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 1.the Act'l. I report in respect of my exafflinalion of the Trust's accounts carried out under section 145 of Ihe 2011 Act and in carrying out my examination. I have followed all the applicable Directions given by the Charity Commission under section 14515}(b) of the Act. Independent I have completed my examination. I confirm that no material matters have examiner's statement come lo my attention in connection with the examination {elh@t disclose&b.) which gives me cause to believe that in. any material respect= the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records", or the accounts did not comply with the applicable requirement5 concerning the form and content of accounts sel oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independenl examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Please del8le the words in the brackets if they do not apply. Signed: Date: 25 January 2022 Name: Chrislopher Pavett ACA Relevant professional quallficalion{s) or body (if any): ICAEW Addre5S: 6 High Slfeel, Cwmgwrach, Nealh, SA115SY IER Oct 2018