2022-12-31-accounts - Monmouth Diocesan Board Of Finance

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		Page
Trustees' report		1-9
Statement oftrustees'	responsibilities	10
Independent auditor's	report	11 - 13
Statement offinancial	activities	14
Balance sheet		15-16
Statement ofcash flows		17
Notes to the financial	statements	18-38

					Unrestricted	Restricted	Total	Unrestdcted	Restricted	Total
					funds	funds		funds	funds
			Notes		2022 6	2022 6	2022f	2021 6	2021 8	2021
Income and endow			en	f
Donations and
legacies					2,997,456	114,744	3,112,200	3,501,716	171,786	3,673,502
Other trading
activities						105,832	105,832		153,251	153,251
Investments					113,069	17,954	131,023	92,573	11,073	103,648
Other income					683	801	1,484	6		6
Total income					3,111,208	239,331	3,350,539	3,594,295	336,110	3,930,405
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Raising funds					18,087	860	18,927	17,575	903	18,478
Charitable activities			8		2,157,392	692,072	2,849,464	3,022,927	773,935	3,796,862
Total expenditure					2,175,459	692,932	2,868,391	3,040,502	774,838	3,815,340
Net gains/(losses)		on
investments			12		(355,843)	(14,585)	(370,428)	255,614	12,436	268,050
Net incoming/(outgoing)
resources before
transfers					579,906	(468,186)	111,720	809,407	(426,292)	383,115
Gross transfers
between funds					(465,260)	465,260		(456,974)	456,974
Net movement	In	funds			114,646	(2,926)	111,720	352,433	30,682	383,115
Fund balances at 1 January
2022					4,695,574	561,198	5,256,772	4,343,141	530,516	4,873,657
Fund balances	at	31
December 2022					4,810,220	558,272	5,368,492	4,695,574	561,198	5,256,772

				2022		2021
			Notes	6
Fixed assets
Tangible assets			14		403,909		402,981
Investments			15		3,195,076		3,579,400
					3,598,985		3,982,361
Current assets
Debtors falling due alter one year			16	217,300		260,250
Debtors falling due within one year			16	393,402		493,523
Cash at bank and in		hand		2,116,180		1,786,974
				2,726,862		2,540,747
Creditors:	amounts	falling due within
one year			17	(740,055)		(1,006,086)
Net current	assets				1,986,807		1,534,661
Total assets less current liabilities					5,585,792		5,517,022
Creditors:	amounts	falling due after
more than	one year		18		(217,300)		(260,250)
Net assets					5,368,492		5,256,772
Income funds
Restricted	funds		19		558,272		561,198
Unrestricted	funds
Designated	funds		20	724,744		305,027
General unrestricted		funds		3,962,372		4,267,443
Revaluation	reserve			123,104		123,104
					4,810,220		4,695,574
					5,368,492		5,256,772

					2022		2021
				Notes			6
Cash flows from operating		activities
Cash generated from operations				25		186,679		412,292
Investing	activities
Purchase	oftangible fixed assets				(2,411)		(2,825)
Purchase	ofinvestments				(632,216)		(828,211)
Proceeds	from disposal of	investments			646,111		316,921
Investment	income received				131,023		103,646
Net cash	generated from/(used		in)
investing	activities					142,507		(410,469).
Net cash	used in financing	activities
Net Increase in cash and cash			equivalents			329,186		1,823
Cash and	cash equivalents	at beginning		ofyear		1,786,974		1,785,151
Cash and	cash equivalents	at end of		year		2,116,160		1,786,974

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			2022	2021
			8	2
Room	Letting and Miscellaneous	Income	3,853	611
Rental	ofParsonages		101,979	152,640
Other	trading activities		105,832	153,251

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		funds	funds		funds
		2022	2022	2022	2021
		8	B	8	8
Other	Income	883	801	1,484

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				2022	2021
				f	6
Support for ministry				2,154,592	2,238,272
Support for padishes				116,731	779,124
Support for other	church		pmperty	58,781	30,537
Grants and other	financial		support	173,495	420,547
Communications	and	publications		33,379	31,244
				2,536,978	3,499,724
Share ofsupport	costs (see note 9)			240,973	249,999
Share ofgovernance		costs (see note 9)		71,513	47,139
				2,849,464	3,796,862
Analysis by fund
Unrestricted funds				2,157,392	3,022,927
Restricted funds				692,072	773,935
				2,849,464	3,796,862

Supportcosts	Supportcosts
		Support	Governance	2022	Support	Governance	2021
		costs	costs		costs	costs
		6	6		6
Staff costs		211,146		211,146	207,619		207,619
Depreciation		1,464		1,464	1,429		1,429
Heat, Light and Water		6,002		6,002	2,219		2,219
Telephone, fax and
internet		2,984		2,984	4,515		4,515
Printing, Postage and
Stationery		2,908		2,908	3,144		3,144
Furniture	and computer
expenses		6,484			8,949		8,949
Equipment	leasing
charges		4,423		4,423	5,354		5,354
Repairs and Renewals		1,982		1,982	11,261		11,261
Caretaker/Cleaning		1,706		1,706	4,441		4,441
Miscellaneous		1,874		1,874	1,068		1,068
Audit fees			9,174	9,174		6,540	6,540
Legal and	professional		1,991	1,991		2,137	2,137
Diocesan	Insurance		6,074	6,074		5,526	5,526
Diocesan	Conference
Costs			883	883		373	373
Governing	Body
Expenses			25,931	25,931		5,946	5,946
Diocesan	Registrar		27,460	27,460		26,617	26,617
		240,973	71,513	312,486	249,999	47,139	297,138
Analysed	between
Charitable	activities	240,973	71,513	312,486	249,999	47,139	297,138

The average	monthly number ofemployees during the y	ear was:
		2022	2021
		Number	Number
Employment	costs	2022	2021
		E	8
Wages and	salaries	227,572	204,168
Social security costs		20,241	17,366
Other pension costs		26,900	24,763
Salary ofDiocesan Registrar		25,210	24,716
Total Costs		299,923	271,013

Net gains/(l	osses) o	n Investments
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2022 6	2022 6	2022f	2021 6	2021 6	2021 6
Revaluation	of
investments		(355,843)	(14,585)	(370,428)	255,614	12,436	268,050

Tangible fixed assets
		Freehold land	Fixtures and	Total
		and buildings	fittings
		6	6
Cost orvaluation
At 1 January 2022		400,000	10,113	410,113
Additions			2,411	2,411
Disposals			(6,451)	(6,451)
At 31 December 2022		400,000	6,073	406,073
Depreciation and impairment
At 1 January 2022			7,151	7,151
Depreciation charged	in the year		1,464	1,464
Eliminated in respect ofdisposals			(6,451)	(6,451)
At 31 December 2022			2,164	2,164
Carrying amount
At 31 December 2022		400,000	3,909	403,909
At 31 December 2021		400,000	2,961	402,961


Fixed asset investments			(Continued)
	Listed	Cash in	Total
	investments	portfolio
	8
Cost orvaluation
At 1 January 2022	3,467,097	112,303	3,579,400
Additions	632,216	(632,216)
Valuation changes	(370,429)		(370,429)
Movement		(13,895)	(13,895)
Disposals	(562,362)	562,362
At 31 December 2022	3,166,522	28,554	3,195,076
Carrying amount
At 31 December 2022	3,166,522	28,554	3,195,076
At 31 December 2021	3,467,097	112,303	3,579,400

Debtors
				2022	2021
Amounts	falling due within one year:
Trade debtors				361,347	373,490
Other debtors				32,055	120,033
				393,402	493,523
				2022	2021
Amounts	falling due after more than		one year:	8	6
Due from	Parishes re Provincial	Housing	Loans	217,300	260,250
Total debtors				610,702	753,773

17	Creditors: amo	unts	falling due within one year
				2022	2021
					6
	Trade creditors			10,892	(44)
	Other creditors			63,952	93,250
	Accruals and deferred		income	665,211	912,880
				740,055	1,006,086
18	Creditors: amounts		falling due after more than one year
				2022	2021
				8
	Representative	body	loans	217,300	260,250

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	2022	2021
	6	6
ylthin one year	3,602	2,946
Between two and five years	5,772	7,620
	9,374	10,566

Cash generated from operations	Cash generated from operations				2022f	2021 6
Surplus for the year					111,720	383,117
Adjustments for:
Investment income recognised	in statement		offinancial	activities	(131,023)	(103,646)
Fair value gains and losses on	investments				370,428	(268,050)
Depreciation and impairment oftangible		fixed assets			1,464	1,429
Movements in working capital:
Decrease in debtors					143,071	309,969
(Decrease)/increase in creditors					(308,981)	89,473
Cash generated from operations					186,679	412,292

Analysis ofchanges
	At 1January	Cash flows	At 31December
	2022		2022
	6	6	8
Cash at bank and in hand	1,786,974	329,186	2,116,160
Loans falling due after more than one year	(260,250)	42,950	(217,300)
	1,526,724	372,136	1,898,860