2021-03-31-accounts

YMDDIRIEDOLAETH ADDOLDAI CYMRU WELSH RELIGIOUS BUILDINGS TRUST

(A company limited by guarantee)

Company Number: 3870343 Registered Charity Number: 1084030

Report and Financial Statements, including Unaudited Accounts

Year Ending 31[st] March 2021

Contents	Page
Chair’s Foreword	1
Reference and Administrative Information	2
Trustees’ Report	3-10
Independent Examiner’s Report	11
Statement of Financial Activities	12
Balance Sheet	13
Notes	14-20

Chair’s Foreword

I am pleased to introduce Addoldai Cymru’s Annual Report for 2020-21. It was a year dominated by the Covid-19 pandemic which has, as in so many aspects of life, severely restricted our activities. Nonetheless, our staff continued to work from home, communication by email and telephone became ever more important, and trustees met via Zoom.

The rolling programme of capital works agreed with Cadw had to be put on hold although substantial preparatory work was undertaken - this bore fruit because I can happily report that later in 2021 our contractors and architects have made great efforts in putting the programme back on track.

Because all of our chapels have been closed during this period, there have been no visitors, users or events and even the ability to inspect them has been limited. The Welsh Government has through its Cultural Recovery Fund recognised the need to ensure that the culture and heritage sector remains vibrant and sustainable, and Trustees are grateful to have received a first tranche of this funding during 2020-21.

The Trust has continued to receive donations from charitable bodies and individuals. Whether large or small such donations are valuable in supplementing funding from grant giving bodies, and are always received with gratitude.

The acquisition of two chapels during the year has brought the portfolio of buildings in our care into double figures. Caebach has come to us with the strong support of its former trustees, whilst Salem offers not just a delightful interior but, for the first time, comfortable and commodious accommodation for our staff.

Our chair Rob Scourfield joins me in expressing our gratitude to our fellow trustees and our hard-working staff for their support, as well as to our contractors, architects and volunteers for their contribution to protecting a small but significant part of Wales’ Nonconformist heritage.

Neil Sumner

Vice Chair

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Reference and Administrative Information

Directors and trustees 2020-21

The directors of the charitable company (the charity) are its trustees for the purpose of charity law.

Robert Scourfield Chair appointed 25 June 2020

Neil Sumner Acting Chair until 25 June 2020; Vice Chair appointed 25 June 2020 Gerallt Nash D Huw Owen Dr Elaine Davey David Lloyd

Key management personnel:

Trust Manager Christine Moore Administrative Officer Tanya Jenkins

Registered Office

Capel Salem, Stryd Picton Street, Nantyffyllon, Maesteg, CF34 OHH

Charity registration number

1084030

Company registration number

3870343

Accountants

W J Matthews & Son, 11-15 Y Bont Bridd, Caernarfon, Gwynedd LL55 1AB.

Bankers

HSBC, 24 Y Maes, Caernarfon, Gwynedd, LL55 2NB.

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Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

Trustees’ Report for the period 1 April 2020 to 31 March 2021

The Trustees are pleased to present their annual Directors’ report together with the financial statements of the charity for the year ending 31 March 2021, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Structure Governance and Management

The Trust is a charitable company limited by guarantee and was set up on 2 November 1999. It is governed by a Memorandum and Articles of Association, which was last amended on 18 December 2006.

The Memorandum and Articles of Association provides for a minimum of 3 and a maximum of 11 Trustees. The Trust currently has 6 Trustees. When a requirement for new Trustees has arisen, these have been identified and appointed by the remaining Trustees. Amongst the Trustees, there is a significant amount of experience with regard to building conservation and construction, property management, education, and history, as well as those that are actively involved within various denominations in Wales. In the event of a particular area of expertise or knowledge being lost due to retirements, or that the Trust feels needs to be strengthened, individuals are approached and invited to become Trustees. The Trust regularly reviews its Board membership and, if necessary, will seek to recruit additional Trustees.

Potential Trustees are already familiar with the practical work of the charity, having been invited to attend Trustees’ meetings prior to a formal invitation to become Trustees. The Trust Manager also provides copies of the Trust’s Memorandum and Articles of Association as well as other relevant documents and additional material, so that they can familiarise themselves with the Trust and the context within which it operates. The Chair and the Trust Manager will meet individual Trustees for further explanation of roles and of the sector if required.

Governance and internal control

The Directors of the company are also charity Trustees for the purposes of charity law and under the company’s Articles are known as members of the Board of Trustees. Under the requirements of the Memorandum and Articles of Association, the members of the Board of Trustees are elected to serve for a period of three years after which they must be reelected at the next Annual General Meeting.

The Board of Trustees comprised 6 trustees throughout the year.

The Board of Trustees should meet at least three times a year, and during 2020-21 due to the Covid-19 pandemic these where virtual meetings on 25 June 2020 (AGM), 9 December 2020 and an EGM was called on 18 February 2021. This was called to discuss the resilience of the Trust particularly because of the impact of the pandemic on the Trust.

The Trust has several sub-committees. During the year the Buildings Sub-committee met as required. All major decisions taken by sub-committee must be confirmed by the Board of Trustees.

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The Trust agreed with Cadw, as main funder and sponsor, a set of Purposes and Targets for the year.

The Trustees consider the key management personnel of the charity in charge of directing and controlling, running and operating the Trust on a day-to-day basis, comprise the Board of Trustees (who are the Trust’s directors) and the senior management team. All Trustees give of their time freely and no Trustees received remuneration in the year. Details of Trustees’ expenses and related party transactions are disclosed in note 8 to the accounts.

Pay policy for senior staff

The pay of the senior staff is reviewed annually and is normally increased in accordance with nationally agreed local authority pay scales.

Risk Management

As a matter of best practice, the Trustees have instigated a process to identify, evaluate and manage the risks faced in the activities undertaken by the Trust. The Trustees are satisfied that the major risks to which the charity is exposed have been reviewed and that systems have been established to mitigate those risks. The Trustees are aware of the substantial liabilities that they face.

Volunteers

Local volunteer input is a key part of project development and supporters’ groups are encouraged in relation to each building acquired. Cyfeillion Yr Hen Gapel, the group at Yr Hen Gapel, Rhydowen, and the Friends groups at Hen Dŷ Cwrdd, Trecynon and Ainon, Llanuwchllyn, have been unable to provide active support throughout 2020-21 due to the pandemic.

David Glennerster, who was the Trust’s Treasurer between 1999 and 2013, currently supports the Trust as a volunteer by providing financial advice to our staff and attending Board and Executive Sub-committee meetings. Dr Christian Williams provides volunteer support with social media output. The volunteering input of the Trustees continues to be substantial.

Staff

During the year Christine Moore has continued in her role of Trust Manager and Tanya Jenkins has continued in her role of Administrative Officer, both staff have worked from home throughout the pandemic and are paid a working from home allowance.

Objectives and Aims

The Trust is a body which has been established for charitable purposes only, and the Trustees believe that the description that best fits the Trust’s purposes in section 2(2) of Part 1 of the Charities Act 2006 is paragraph (f) “the advancement of the arts, culture, heritage or science”. The Act also requires that a purpose of a particular description must also be for the public benefit if it is to be a charitable purpose.

The Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance Public Benefit: Running a Charity (PB2) when reviewing the Trust’s aims and objectives and in planning its activities. In normal circumstances all of the Trust’s chapels are available for the public to visit whenever there is no ongoing building work, and any member of the public can contact the Trust’s office for the contact details of the relevant keyholders.

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The Trust has been set up to address some of the serious problems facing Wales’ rich inheritance of religious buildings. The charity’s purposes as formally set out in the objects contained in the company’s Memorandum of Association are:

“The promotion and advancement of the religious and associated heritage of Wales, or that which is associated with Wales, for the benefit and education of the people of Wales and the public generally, and in particular but without limitation to the generality of the foregoing:

to secure the conservation, repair and maintenance of chapels, churches, meeting houses or other religious buildings and their associated buildings and environments situated in Wales, other than those consecrated to the use of the Church in Wales, together with their contents, burial grounds and curtilages, where the buildings are of religious interest, or of particular beauty or historical, architectural or constructional interest;

to promote and encourage the preservation and appreciation of chapels, churches, meeting houses or other religious buildings, other than those consecrated to the use of the Church in Wales, together with their associated buildings, environments, contents, burial grounds and curtilages where such buildings are of religious interest or of particular beauty or historical, architectural or constructional interest, primarily situated in Wales, or that are associated with Wales, whether the buildings are being used for their original purpose or not, and to advise on their conservation.”

The Trust aims to promote and advance the religious heritage of Wales by:

• acquiring, as an owner of last resort, a limited number of redundant religious buildings of significance and ensuring their conservation to the highest standards

• providing advice and information to those owning or responsible for chapels and other historic religious buildings, and to other interested parties.

The Trust’s remit covers buildings of all denominations and faiths, except for the Church in Wales, which has its own scheme in place with The Friends of Friendless Churches and Cadw.

Review of activities and future developments

The Trust was awarded a Cadw capital grant of £100,000 in November 2019 for 2019/2020 and 2020/21 subject to the production of conservation management plans for each building and an agreed work programme for 2019/20 and 2020/21. The capital works planned for 2020 have been delayed until 2021 due to the pandemic.

Impact of COVID-19 on the Trust

The two members of staff have been able to work from home, but with limited resources we have been unable to provide any significant online presence. The Trustees and staff have been able to engage with everyday trust business e.g., meetings, through the acquisition of zoom.

Capital projects have been very difficult to deliver and significantly delayed. There has been limited ability to liaise with local planning authorities and funding bodies. Funders of the limited live projects that have been undertaken have to date responded with flexibility towards application deadlines and conditions, and hopefully this will continue. Meanwhile there have been severe delays in obtaining tenders, and prices obtained reveal a significant increase in the cost of materials since the pandemic.

Due to travel restrictions for staff and local keyholders there has been an inability to inspect most chapels. None of the chapels have had visitors or users. All voluntary work has effectively ceased.

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The Trust has been unable to continue exploring potential new uses for its buildings. Prior to the pandemic the Trust had active development projects for two of its buildings, Bethania, Maesteg and Hen Dŷ Cwrdd, Trecynon. We were in initial discussions with various funders and Expressions of Interest had been submitted. All grant applications were stopped by the funders due to the pandemic. The hiatus in this development has meant that there has been a significant loss of momentum and with the immediate future still uncertain it is envisaged that these development projects will require re-evaluation and further significant development, particularly considering the substantial increases in tender prices that have been experienced.

The chapels in the care of the Trust are situated across Wales, and access to these buildings throughout the pandemic has been severely limited. A full review of their condition will be necessary to assess the full impact of this vacancy, especially considering the nature and condition of their structure/s and the impact that no use and lack of heating will have had upon them. The Trust has been successful with a Cultural Recovery Fund grant of £10,000 which offsets some of the income lost through the pandemic. However, the Trust anticipates an exponential cost in preparing many of its buildings to be open and used again.

The Trust envisages that the pandemic will also have had a substantial impact on many active chapel congregations across Wales. They will no doubt have been hit hard during this crisis which will inevitably result in some closures, thus exacerbating the loss of many important chapels and a potential increase in demand for acquisition. The Trust relies on core funding from Cadw, and therefore our major concern will be the continuity of funding for our work going forward.

A summary of the work of the Trust is set out below.

Buildings for Acquisition

The Trust continues to be fully occupied working with the current portfolio of buildings already acquired, or in process of being acquired. The Trust has continued to work to remain informed about redundant religious buildings potentially suitable for acquisition and conservation. The Trust is aware of an accelerating rate of redundancy, and of a clear indication that the nature, number and age profile of congregations caring for buildings will mean that an increasing number of buildings of significance will become redundant in the short to medium term.

The Trust’s remit is to conserve examples of redundant non-Church in Wales places of worship of exceptional architectural and/or historic interest. Freehold ownership and management of even a small number of buildings is burdensome and a liability for trustees, and acquisition of new buildings to-date continues to be a reactive process but guided by the production of our “Significant Chapels” list; using rigorous criteria, trustees have identified those buildings which they consider to be of exceptional architectural and/or historic interest.

The Trust has acquired buildings at less than market value, under its status as a prescribed charity under the Redundant Churches and Other Religious Buildings Act 1969, (as amended in Schedule 5 of the Charities Act 1992). Whenever a decision is made to proceed with a transfer on such terms, the Trust is very grateful to the respective disposing Trustees for their co-operation.

As the Trust becomes aware of possible candidate buildings, they are scrutinised by the Buildings Sub-committee and, where potentially suitable, visits are arranged to inspect the buildings. Advice is sought from the Trust’s Architectural Advisers, who are two current Trustees. Once acquired, buildings are to be repaired, conserved and managed by the Trust, and wherever possible, made available for community use. Buildings that have been

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acquired by the Trust are generally in poor condition, requiring maintenance and emergency repairs to prevent further deterioration.

The Trustees have in recent years placed a greater emphasis on developing the community development aspect at each building, developing the long-term future of buildings acquired in conjunction with the local community. Although this work is resource intensive, we have continued to develop all our projects during this year, including developing community participation, preparing funding applications and undertaking repairs. In 2020 the Trust completed the process of acquiring Caebach Chapel, Llandrindod Wells from the United Reformed Church and Salem Chapel, Nantyffyllon from the Welsh Baptist Union, with the later becoming the Trust’s new office in January 2021.

The following buildings are active projects which were acquired by the Trust:

Libanus (Baptist), Waunclyndaf, Llansadwrn nr. Llandeilo, Carmarthenshire (grade II*)

A five-year conservation management plan was produced for Libanus as part of a capital work programme funded by Cadw for 2019/20 and 2020/21. Capital works scheduled for 2020 been delayed due to the pandemic until 2021.

Hen Dŷ Cwrdd (Unitarian), Trecynon, Aberdare, Rhondda Cynon Tâf (grade II)

A five-year conservation management plan was produced for Hen Dŷ Cwrdd as part of a capital work programme funded by Cadw for 2019/20 and 2020/21. Capital works scheduled for 2020 have been delayed due to the pandemic until 2021. Development work and discussions with potential funders has been put on hold due to the pandemic.

Bethania (Baptist), Maesteg, Bridgend (grade II*)

A five-year conservation management plan was produced for Bethania as part of a capital work programme funded by Cadw for 2019/20 and 2020/21.

The Maesteg Boxing Club has not been able to occupy the vestry throughout 2020-21 due to Covid-19 pandemic restrictions.

Yr Hen Gapel (Unitarian), Llwynrhydowen, Rhydowen, Ceredigion (grade II*)

A five-year conservation management plan was produced for Yr Hen Gapel as part of a capital work programme funded by Cadw for 2019/20 and 2020/21. Capital works scheduled for 2020 have been delayed due to the pandemic until 2021.

Beili Du (Presbyterian Church of Wales), Pentrebach, nr. Sennybridge, Powys (grade II)

A five-year conservation management plan was produced for Beili Du as part of a capital work programme funded by Cadw for 2019/20 and 2020/21. Capital works scheduled for 2020 been delayed due to the pandemic until 2021.

Work continued with the Arwain project, expending £37,430 from the Powys County Council’s Rural Development Programme. The Trust’s staff carried out a major body of research work on the history of the chapel, which was used to create a bilingual interpretative film in partnership with the Royal Commission on the Ancient and Historical Monuments of Wales This work was carried out by Treehouse Media.

Peniel (Presbyterian Church of Wales), Tremadog, Gwynedd (grade I)

A five-year conservation management plan was produced for Peniel as part of a capital work programme funded by Cadw for 2019/20 and 2020/21. Capital works scheduled for 2020 have been delayed due to the pandemic until 2021.

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Ainon (Baptist), Llanuwchllyn, Gwynedd (grade II*)

A five-year conservation management plan was produced for Ainon as part of a capital work programme funded by Cadw for 2019/20 and 2020/21. Capital works scheduled for 2020 have been delayed due to the pandemic until 2021.

Carmel (United Reformed Church), Nantmel, nr Llandrindod Wells, Powys (grade II*)

A five-year conservation management plan was produced for Carmel as part of a capital work programme funded by Cadw for 2019/20 and 2020/21. Capital works scheduled for 2020 have been delayed due to the pandemic until 2021.

Role as advisory body

The Trust has also been established with the intention of becoming an advisory body and a source of information to those owning or responsible for historic religious buildings in Wales. Although resources are scarce, staff have continued to provide some information to those requesting help, mainly on funding issues, and enquiries have been received via the Trust’s website.

The Trust supports the promotion and advancement of the religious and associated heritage of Wales, or that which is associated with Wales, for the benefit and education of the people of Wales and the public generally. The focus during the pandemic has been on the promotion of the Trust’s buildings and other buildings and other associated heritage through the website and social media.

Website

The Trust’s bilingual website continues to be an important part of its communication with supporters and local communities. In 2020/21 it attracted 11,355 users and 346,905 page views. The website is managed by Orangeleaf Systems Ltd digital heritage consultants. The Trust has purchased the domain names .wales and .cymru and it will be the Trust’s intention to continue this contract and invest in further website developments. The Trust’s Facebook page has 988 followers and its Twitter account has 651 followers. With the assistance of a dedicated volunteer we will in future be building on these accounts to increase our public profile.

Friends of the Trust

The Trust has a national Friends group, membership of which stands at 100 (as of 31 March 2021). The active Friends groups (pre-pandemic) at Yr Hen Gapel has 5 members, the group at Hen Dŷ Cwrdd has 9 members and the group at Ainon has 5 members. Due to the pandemic no significant activity has taken place.

Links with other organisations

The Trust has maintained its links with several like-minded organisations - the Historic Chapels Trust, the Friends of Friendless Churches, the Scottish Redundant Churches Trust and the Churches Conservation Trust - as well as with religious and other institutions in Wales and further afield. The Trust also has links with the Historic Religious Buildings Alliance.

The Trust has a successful working relationship with Capel, the Chapel Heritage Society in Wales, and is grateful for the role played by trustee D. Huw Owen.

The Trust has a successful working relationship with the Royal Commission on the Ancient and Historical Monuments of Wales, particularly in regard to the Trust's website and ongoing work on identifying Wales' most significant chapels, and is grateful for the invaluable assistance provided by RCAHMW's officer Susan Fielding, who also attends the

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Board meetings in an advisory capacity.

The Trust is a member of the Wales Council for Voluntary Action, and the Heritage Trust Network.

The Trust is a member of Future for Religious Heritage, the European network for historic places of worship which aims to bring together those who work to protect religious heritage across Europe.

Staff or trustees have represented the Trust at virtual meetings of the Historic Places of Worship in Wales Forum and the Wales Heritage Group. The Trust continues to respond to various government consultations.

Financial Review

The Trust has continued to develop its activities and to build upon what it has achieved to date.

Funding

Current funding arrangements with Cadw are on an annually renewable basis, and the Trust has received core-funding from Cadw for the administration and development of the Trust during the year. The Trust, however, continues to operate with insufficient resources to develop its projects in the most effective way, and to make the most efficient use of funds already granted.

Cadw has also continued to contribute towards project overheads, in particular, funding the insurance premiums and utility bills at each building, until projects have an income to enable them to pay their own way.

Cadw has also contributed capital money towards an agreed programme of work - £50,000 for 2019/20 and £50,000 for 2020/21.

The Trust continues to receive funding from the Listed Places of Worship Grant Scheme for VAT paid by the Trust on eligible work at its buildings.

The Trust is also grateful to its Friends and private donors generally and their generosity to the Trust, and whose contributions are augmented by the Gift Aid claimed in respect of their donations. These included donations from the Dorothy Watkins Foundation £1,000, Mr and Mrs Jewel £50, and D Jones-Powell £100. The Trust also received a legacy in respect of Caebach Chapel of £5,000. The Trust greatly appreciates all donations received.

Current funds are still insufficient for all the Trust’s requirements. Its activities therefore continue to be concentrated on the conservation and management of its buildings, rather than on any substantial advisory work, although the Trust’s website is a means of being able to provide support more widely to those who seek it.

Reserves policy

As an organisation mainly funded by grants for work in hand, the Trust has not been able to build up reserves of any significance to date. The Trust would like to be in the situation of being able to build up a modest amount as a reserve for unforeseen eventualities.

Future Plans

The Board of Trustees monitors both the Trust’s day-to-day activities and its development plans on a regular basis in order to make the best use of its limited resources. The work of the Trust is based around four main areas of activity: Acquisition, Conservation, Participation & Interpretation, and Running the Trust.

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10

Independent examiner’s report to the Trustees of Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] March 2021 set out on pages 13 to 21.

Responsibilities and basis of report

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act (‘the 2006 Act’).

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act.

Independent examiner’s report

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

• (1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

• (2) the accounts do not accord with those accounting records; or

• (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other that any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

• (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr David Chidley W. J. Matthews & Son Chartered Accountants Applicable listed body - ICAEW 11-15 Bridge Street Caernarfon LL55 1AB

Dated:

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Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

Statement of Financial Activities (incorporating an Income and Expenditure Account) for the year ended 31 March 2021

		Unrestricted	Restricted	Total	Total
	Notes	Funds	Funds	2021	2020
		£	£	£	£
Income
Donations and grants	3	87,718	5,000	92,718	81,026
Income from charitable activities:
Donations and grants	4	-	2,981	2,981	95,333
Other income		1,815	-	1,815	1,680
		_	_	_	_
Total Income		£89,533	£7,981	£97,514	£178,039
		_	_	_	_
Expenditure:
Project Development Costs	5	64,271	9,629	73,900	99,523
		_	_	_	_
Total Expenditure		£64,271	£9,629	£73,900	£99,523
		=======	=======	=======	======
Net Income and net
movement in funds for the year		25,262	(1,648)	23,614	78,516
Fund Balances at 1 April 2020		16,524	1,065,708	1,082,232	1,003,716
		_	_	_	_
Fund Balances at 31 March 2021		£41,786	£1,064,060	£1,105,846	£1,082,232
		======	=======	=======	=======

The notes on pages 14 to 20 form part of these accounts.

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Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildlngs Trust (Company number3870343) Balance Sheet at 31 ma￿ 2021 2021 2020 FIXED ASSETS Heritage Assets 1.085.900 1.082.121 CURREMf ASSETS Debtors and Prepayments Cash at Bank 10 3,950 10.386 21.977 21.977 14,336 CREDITORS: Amounts frdlling due within one year 12.031} 114.225} Net Current Ass¢ts 19.946 111 NET ASSErs £1,105.846 £1,082,232 FUNDS Unrestricted FuThJs Restricted Funds 12 12 41,786 16,524 1.W,060 1.065,708 £1.105.846 £1.082.232 In the directors. ¢)pinion the ￿MpanY was entit￿ under section 477{fjl of the Companies Act 2006 to exemption from Ihe audit of its a(xounts for the yearended 31 March 2021. No memberofthe company has deFQSited a notre Ltnder ￿lon 476 rg]uiring an audtt ofthese accounts. The direclors are reswnsible for ensurirrfJ that the company keeps proper accounting r￿rdS wh comply with Seclion 386 of the Companies Act 2006 and for preparing accounts which gNe a true and fair view of the stste of affairs of the company as at the end of each financial year and of ils profil or loss for each year in accordar￿ with the fequirements of Section 394 and Section 395 of the Companies Act 2006, and wh￿h otherwBe compty with the r￿U1[emerrtS of that Acl relating to accounts, so far as applicable to the company. The accounts are prepared in aC￿rdance with the speual provi8ions of Part 15 of the Companies Act 2006 relating to small companies and have been prepared in aC1xKdan￿ with the Financial Reporb"ng Standard appltcab]e in the UK and Republic of Ire￿nd (FRS102). Rob Scourfield (Chair) Date.. The notes on pages 14 to O fom) ol these accounts. p.13

Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

Notes to the Accounts for the year ended 31 March 2021

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) –Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historic cost or transaction value unless otherwise stated in the relevant accounting policy note.

Preparation of the accounts on a going concern basis

The trustees consider that there are no significant uncertainties in respect of the charitable company’s ability to continue as a going concern.

Income recognition policies

Incoming resources are included in the statement of financial activities when the charity is entitled to the income, any performance conditions attached to the items of income have been met or are fully within the control of the charity, there is sufficient certainty that receipt of the income is considered probable and the income can be measured reliably. Income is deferred if the performance related conditions have not been met or if the income is earmarked for future periods.

Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Income is deferred where the conditions for entitlement to the income have not been met or where the income has been given specifically for a future period.

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

Fund accounting

Unrestricted funds are available for use by the trustees to promote the general objects of the charity at the discretion of the trustees. Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Resources expended are included in the Statement of Financial Activities on an accruals basis.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

Notes to the accounts for the year ended 31 March 2021

1. Accounting Policies

Support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include costs of administration, finance, personnel, payroll and governance costs which supports the charitable programmes.

Capital Expenditure

Capital assets with a cost which exceeds £1,000 are capitalised in the accounts. Heritage assets are shown at cost.

Depreciation is provided on fixed assets at the following rates:

Office equipment

over 4 years on a straight-line basis

Depreciation is not provided on freehold properties as it is the policy of the trust to maintain them to a high standard so that their residual value is not less than their cost.

Heritage Assets

The acquisition cost and renovation cost of chapels are stated at cost.

Pension costs

The cost of providing pension and related benefits is charged to the SOFA over the employee’s service lives. The charity makes defined contribution pension payments.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. Legal status of the Charity

The company is limited by guarantee registered in Wales. If upon the winding up of the company, there remains after the satisfaction of all debts and liabilities, any property whatsoever the same shall not be paid to or distributed among the members of the company, but shall be given to some other charitable institution having similar objects to the company. As members will not receive any surplus from the company, a Reconciliation of Members’ Funds is not required.

p. 15

Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

Notes to the accounts for the year ended 31 March 2021

		Unrestricted	Restricted	Total	Total
		Funds	Funds	2021	2020
		£	£	£	£
3.	Income from donations and grants
	Cadw Revenue Grant	70,808	-	70,808	69,420
	Donations	1,760	5,000	6,760	5,568
	National Churches Trust	5,150	-	5,150	6,038
	Welsh Cultural Recovery Fund	10,000	-	10,000	-
		______	______	______	______
		£87,718	£5,000	£92,718	£81,026
		======	======	======	======
4.	Income from charitable activities
	Donations and grants
		Unrestricted	Restricted	Total	Total
		Funds	Funds	2021	2020
		£	£	£	£
	Cadw Capital Grants	-	2,400	2,400	28,755
	Heritage Lottery Fund	-	-	-	27,630
	Listed Places of Worship VAT Grant Scheme -		581	581	11,548
	Arwain Fund	-	-	-	27,400
		_	_	______	_
		£ -	£2,981	£2,981	£95,333
		=======	=======	=======	=======
5.	Analysis of expenditure on charitable activities
		Conservation		Total	Total
			Projects
				2021	2020
			£	£	£
	Wages		41,732	41,732	40,915
	Staff Training		-	-	130
	Working from home costs		720	720	-
	Travel and Subsistence		575	575	3,093
	Religious buildings maintenance		3,076	3,076	4,176
	Insurance		15,231	15,231	12,985
	Project costs		-	-	431
	Arwain Fund Beili Du Project		-	-	25,815
	HLF Peniel Interpretation Project		1,204	1,204	593
	Professional costs		2,485	2,485	2,607
	Governance costs		1,398	1,398	1,780
	Support costs		7,479	7,479	6,999
			______	______	______
			£73,900	£73,900	£99,523
			======	======	======

Expenditure on charitable activities in the year was £73,900 (2020 - £99,523). Of this expenditure £64,271 (2020 - £65,746) was unrestricted and £9,629 (2020 - £33,777) was restricted.

p. 16

Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

Notes to the accounts for the year ended 31 March 2021

6. Analysis of governance and support costs

Initially, the charitable Company identifies the costs of its support functions. It then identifies those costs which relate to the governance function

	GeneralGovernance	GeneralGovernance	Total	Total
	Support	function	2021	2020
	£	£	£	£
Rent and Premises	560	-	560	1,920
Heat, Light and Utilities	2,098	-	2,098	1,282
Committee Meetings and AGM	-	-	-	406
Printing, Postage and Stationery	459	-	459	795
Advertising	631	-	631	492
Telephone	791	-	791	1,073
Repairs, Renewals & Computer Costs 1,980		-	1,980	486
Insurances	338	-	338	448
Subscriptions	226	-	226	180
Accountancy	-	1,398	1,398	1,374
Companies House fee	13	-	13	163
Recruitment	-	-	-	75
General expenses	83	-	83	93
Depreciation of office equipment	300	-	300	-
	_	_	_	_
	£7,479	£1,398	£8,877	£8,779
	=======	======	=======	=======

7. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

ement personnel
	2021	2020
	£	£
Staff salaries	37,938	37,195
Pension Payments	3,794	3,720
	_	_
	£41,732	£40,915
	======	======

Two individuals were employed in the year (2020 – 2). £74 of pension liabilities existed at the yearend (2020 - £Nil). No employee had employee benefits in excess of £60,000 a year (2020 – £Nil). The key management personnel of the charity comprise the Trustees and management team. The total employee benefits of the key management personnel of the charity were £41,732 (2020 - £40,915).

No trustees received any remuneration during the year (2020 - Nil). No charity trustee received payment for professional or other services supplied to the charity (2020 - £Nil).

Out of pocket expenses were reimbursed to trustees as follows

	2021	2021	2020	2020
	Number	£	Number	£
Travel and subsistence	-	-	2	381
		_		_

p. 17

Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

Notes to the accounts for the year ended 31 March 2021

8. Corporation Tax

Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust being a registered charity is exempt from Corporation Tax.

9. Tangible Fixed Assets

angible Fixed Assets
	Heritage	Office
	Buildings	Equipment
	£	£
Cost
At 1 April 2020	1,082,121	2,789
Additions	2,880	1,199
	______	______
At 31 March 2021	1,085,001	3,988
	______	______
Depreciation
At 1 April 2020	-	2,789
Charge for the year	-	300
	______	______
At 31 March 2021	-	3,089
	______	______
Net Book Value
At 31 March 2021	£1,085,001	£899
	______	______
At 31 March 2020	£1,082,121	£ -
	______	______

Summary analysis of heritage asset transaction

		2021	2020	2019	2018	2018	2017
		£	£	£		£	£
	Purchases	2,880	66,015	183,560	283,930		36,228
	Donations	-	-	-		-	-
		______	______	______	______		______
	Total Additions	£2,880	£66,015	£183,560	£283,930		£36,228
		______	______	______	______		______
	Charge for impairment	-	-	-		-	-
	Disposals	-	-	-		-	-
	Proceeds from disposals	-	-	-		-	-
		______	______	______	______		______
10.	Debtors				2021		2020
					£		£
	Grants due				-		3,950
				_		_
					£ -		3,950
				=======		=======

p. 18

Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

Notes to the Accounts for the year ended 31 March 2021

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |11.|Creditors:|Amounts falling due|2021|2020| |within one year|£|£| |Accruals|2,031|14,225| |_|_| |£2,031|£14,225| |=======|======| |12.|Statement of Funds| |1 April|31 March| |2020|IncomeExpenditureTransfers|2021| |£|£|£|£|£| |Core funds|16,524|89,533|64,271|-|41,786| |Restricted Funds:| |Libanus Chapel|123,857|-|820|-|123,037| |Hen Dŷ Cwrdd|178,529|1,800|520|-|179,809| |,|Beili Du Fund|127,955|-|459|-|127,496| |Bethania Chapel|260,168|-|1,517|-|258,651| |Yr Hen Gapel|190,472|600|468|-|190,604| |Peniel Chapel|185,151|581|2,245|-|183,487| |Carmel|(852)|-|1,644|-|(2,496)| |Chapel and Baptist Trail Project 630|-|630|-|-| |Salem|(202)|-|1,326|-|(1,528)| |Caebach|-|5,000|-|-|5,000| |_ _|_ _ _| |£1,082,232|£97,514|£73,900|£ - £1,105,846| |======= ======= ======= ======= =======| |1 April|31 March| |2019|IncomeExpenditureTransfers|2020| |£|£|£|£|£| |Core funds|2,410|79,860|65,746|-|16,524| |Restricted Funds:| |Libanus Chapel|122,147|2,000|290|-|123,857| |Hen Dŷ Cwrdd|179,606|-|1,077|-|178,529| |,|Beili Du Fund|126,382|27,808|26,235|-|127,955| |Bethania Chapel|259,590|2,664|2,086|-|260,168| |Yr Hen Gapel|190,248|826|602|-|190,472| |Peniel Chapel|123,020|64,881|2,749|-|185,151| |Carmel|(316)|-|536|-|(852)| |Chapel and Baptist Trail Project 630|-|-|-|630| |Salem|-|-|202|-|(202)| |_ _|_ _ _| |£1,003,716 £178,040|£99,523|£- £1,082,232| |======= ======= ======= ======= =======|

----- End of picture text -----

Fund balances at 31 March 2021 are represented by:

----- Start of picture text -----
||||| |---|---|---|---| |Core|Project| |Funds|Fund|Total| |£|£|£| |Fixed Assets|14,962|1,070,938|1,085,900| |Current Assets|28,855|(6,878)|21,977| |Current Liabilities|(2,031)|-|(2,031)| |_|_|_| |£41,786 £1,064,060 £1,105,846|

----- End of picture text -----

p. 19

Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust

Notes to the Accounts for the year ended 31 March 2021

Post year end funding

The Trust does not enter into contracts for repairs until all the necessary funding has been raised. Funds are either received prior to commencement of any work, or, more usually, formal funding offer letters or funding contracts are received, with the actual funds to be drawn down periodically as work is completed and invoices received. Such funding can spread over more than one year, and liabilities that arise during one year met by post year end receipt of funds.

13. Capital Commitments

At the year end, the charitable company did not have any commitments under capital contracts (2020 - £-).

p. 20