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¥l March 2022 Iiiiuiiii *A8JXAYI9' 31Y12rd022 COMPANIES HIXJSE #183 Contents Page Chairfs Foreword Reference and Administrative Infomation Truslees. Report 3-9 Independent Examiner's Report 10 Statement of Financtal ActNities Balance Sheet 12 Notes 13-19 Chair's Foreword l am pleased to introduce Addoldai Cymru's Annual Report for 2021-22. As in so many spheres of lrfe, the Covid-19 pandemi¢ has given us a challenging legacy. Activities across the chapels remained restricted throughout the year. More worrying is the effect the pandemic has had on congregations across Wales: some chapels have simply nol re-opened and an avalanche of Closures has effectively been accelerated. The energy crisis is also having an impact on small congregations with large buildings. Despite all this. our slaff have:b.eeD-. ts"usy.-AnsJ_￿p_MmunIcatIOn via email, telephone and Zoom has been gradually supplemerited'by 'live' meetings at our Salem offices. We have also made substantial progress towards ensuring that most of our Chapels are in a good state of repair. The rolling programme of capital works agreed with Cadw together with three tranches of Cultural Re¢overy Funding.from the Welsh Government, has enabled us lo complete repairs at most of our chapels, enabling them to be used safely. One of the largest schemes was at Peniel, Tremadog. the interior redecorated and heated by a new boiler. The chapel is already back in community use. Libanus and Beili Du have both had their rotten floors replaced and both Carmel and Caebach are in ex￿lIent repair. We have been del_Ehted:with:tbe.-workman5lJip_.o!_alL:of_our contractors, who have all gone the extra mile foc us.-.We' a￿-In-debIed to.th"èm.. As indicated above, we face massive challenges next year. As significant Chapels continue to Close, the recession has put many funding SoUr￿S under threat. Negotiations are underway for the acquisition of at least three chapels and without doubt, the Trust will be looking at more candjdates over the coming years. Over the last year, most of our staff time has been given over to overseeing projects and seeking funding. Next year. we will be focusing more on raising the profile of Ihe Trust, ensuring that we stsnd out as the body charged by the Welsh Govemment to take into care a selection of redundant non-church in Wales religious buildings of exceptional qualty. The Trust has continued to receive donations from charttable bodies and individuals. Whether large or small, such donations are valuable in supplementirjg funding from grant-giving b¢)dies, and are a￿ayS received with gratitude. We are noting the ret1￿ment of...D"av.IdLlèyd-.fFom:8ur-boafd.of trustees and thank him for his expertise as a trustee over. many""years" and.for his good-humoured role as chair. We were meanwhile pleased to welcome Jonathan Jones who was co-opted as a new trustee in October 2021, and looked forward to welcoming Sue Cole in April 2022. On behalf of fellow trustees, I would like to express our gratitude to our hard-working staff for their support, as well as to our contractors, architects and volunteers for their ontribution to protecting a small but signrficant part of Wales, Nonconfomiist heritage. Rob Scourfield Reference and Administrative Infomiatl¢)n Directors and trustees 2021-22 The d1￿ctOrS of the charitable company (the charity) are its trustees for the purpose of Charity law. Robert Scourfield - Chair Neil Sumner- Vice Chair Elaine Davey Jonathan Jones- ¢o-OPted 21 Octobef 2021 David Lloyd - resigned 24th April 2022 Geraltt Nash D Huw Owen Key management personnel: Trust Manager Administrative Offi￿r Christine Moore Tanya Jenkins Reglstered Office Capel Salem, Stryd Picton Street. Nantyffyllon. Maesteg. CF34 OHH Charity registration number 1084030 Company reglstration number 3870343 Accountants W J Matthews & Son. 11-15 Y Bont Bridd, Caemarfon. Gwynedd LL55 1AB. Bankers HSBC, 24 Y Maes. Caemarfon. Gwynedd. LL55 2NB. Ymddiriedolaeth Addoldai Cymru Webh Religious Buildings Trust Tn￿tees. Report for the period 1 April 2021 to 31 March 2022 The Trustees are pleased lo present their annual D￿ect￿$. report logelher wilh the financial statements of the charity for the year ending 31 March 2022, wh￿h are also prep¥ed lo meet the requirements for a directors, report and accounts for Companies Act pu￿OseS. The financial statements CC*n￿ with the charrti￿ Act 2011. the Cefflpanies Act 2006. the Memorandum and Art￿leS of Association, an¢J Accounting and Reporting by Charrties.. Stslement of Recommended Practice appluble to chanties preparing their accounts in aCC￿danCe wfth the Financial Reporting Slandaril apPI￿able in the UK and Republic of Ireland IFRS 102). Structure Gov?man¢e and Management The Trust is a Charitable company limite(I by guarantee and was set up on 2 November 1999. 11 is govemed by a Memorandum and Arttdes of Assccialion. which was last amended on 18 December 2006. The Memorandum and ArtKles of ASscck￿ltin provides for a minimum of 3 and a maximum of 11 Trustees. The Trust cu￿entty has 7 Trustees. When a reqUIre￿￿nI for new Trustees has arisen, these have been identrfied and appointed by the remaining Trustees. Amongst the frustees. there is svJnificanl amount of experience wrth regard to building conservation and constructi￿, propety management. education, arKI history, as well as those that are aetivety invdved within various denominations in Wales. In the event of a Part￿Ular area of expertise or knowledge being lost due lo ret1￿mentS, or that the Trust feels needs lo be strengthened. indivbjuals are approached and invited to become TIu51ees. The Tnjsl regularly reV￿w5 its Board membership and. if necessary, will seek lo recruil additKJnal Trustees. Potential Trustees are alreaty familkar wrth the practical ¥wrk of the chanty, having been inmted to attend TnJ5tees' meetings prior lo a fo￿81 invitatw)n to become TTUStees. The Twsl Manager also provides copies of Ihe Tnjst's Memorandum and Articles of Associalion as well as other relevant documents a￿1 additional material. so that they can familiarise themsefves wrth the Trust and the context within wh￿h it operates. The Chair and the Tnjsl Manager wdl meet individual Trustees for further explan*K*n of roles and of the Sect￿ if required. Governance and internal control The Directors of the company are a150 Charity Tru$lee$ for the purposes of c￿ltY law and under the company's Art￿leS are known as members of the Board of Twstees. Under the requiren*nls of the Memorandum and Articles 0fAssocial￿n, the member5 of the Board of TIu51ees are elected lo serwe for a penod of three years after wh￿h they must be re-e*ted at the next Annual General Meets'ng. The Board of Tiuslees compfised 7 truslfjes throughout the year. The Board of Trustees shoukl meet al least three tThes a yeaT, aTrJ dumg 2021-22, there We￿ 4 board meetings, 25kn May 2021. 211¢ October 2021. 25￿ November 2021 and 17th February 2022. The Trust has severnl su1￿CL￿nn7￿ees. During the year the Buiklings Sub-C(xnmittee met as required. All major deci$i¢Nvs taken by a sub-committee must te ConfiM￿￿ by the Board of Trustees. The Trust agreed with Cadw, as main funder and sponsor. a set of Purpovs and Targets for the year. The Trustees consKJer the key management personnel of the charity in charge of difecling and controlling, runnin9 and operating the Trust on a day-t¢>day bas￿, comprise the Board of Trustees {who are the Trusl's directors) and the senior management leam. All Trustees gNe of their lime freely and no Trustees re¢eNed remuneratK)n in the year. Details of Trustees. expenses and related paty transact*)n$ are di5dosed in n￿e 7 to the xtcwjrts. Pay policy for senior staff Thepay oflhe senKJrslaff L8 revth¥ed arbnualty and i8 norn￿1ty irKfeased in accordance wrth nationally agreed lo￿1 authorrty pay scales. Risk M•nagemei)t As a matter of best practice, the Twslees have insligated a process to ￿enIfy, evaluate and manage the risks faced in the actNities undertaken by the Trust. The Tru*ees are satisfi'ed that the major risks to whieh the charity 15 exposed have been revI￿d and that systems have been established to mitigate Ihose risks. The TnJslees we aKdre of the substsntol liabilities that they facg. Volunteers Local volunleer inpLrt is a key part of project development and supporte￿. groups are encouraged in relation to each buikding acquired. Cyfeillion Yr Hen Gapel, the group at Yr Hen Gapel. Rhydowen. and the Friends groups al Hen Dy Cwfdd, Trecynon and Ainon. Llanuwchltyn. have been unable to provide ￿tIVe support throughout 2021-22 due lo the pan¢Jemt. The Trust made the decision lo start up Facebook groups for each of our chapels as a way of engag￿9 wrth ￿MmunitieS and sharing information. t)avid GlenneTsler. who was the Trusfs Treasurer beN¥een 1999 and 2013. currently supports the Trust as a volunteef by prowding financial advice lo our staff an¢J attending Board and Executive Sub- committee meetings. Dr Christian willk￿ provides volunteer sUp￿rt with social media output. The volunteering irtpul of the Trustees continues to be substantial. Staff During the year Christine has Giml￿U8d in her rt)le of Tnjst Manager and Tanya Jenkins has continLted in her role of Administrative Officer. Both staff have worked from home throughout Ihe Covid-19 pandemK and have beerb paid a working from home albwance. Objectives and Aims The Twst is a body which has been established for Charitable purposes onty, and the Trustees believe that the description that best frts the Trust's purposes in seclion 212) of Part 1 of the Charities Act 2006 is paragraph If) 'Ihe advancement of the arts. ¢ulture. heritsge or wence.. The Act also requires th* a purpose of a part¢cular descripti￿ must also be for the publ￿ beneft rf il 1$ lo be a chariiable purpose. The Trustees have cons*Jered the Charty Comrnission's guwjance on public benefrt, indudirvJ the guidance Public Benefit.. Running a Charty IPB2) when reviewing the Trust's aims and objectives and in planning its activities. In nomal eircumslanees all of the Trust's chapels are available for Ihe publ lo Msrt whenever there is no ongoing building work, and any ￿rnber of the public can contact the Trust's office for the ￿1￿cl detsils of the feknnt keyhotders. The Trust has been $et up lo address som of the serious problems facing Wales. rich inheritance of religious buildings. The charty'5 purpose5 a5 fornalty setfxrt in the objects contsined in the company's Memorandum ofAssocialion are. °The promotion and advancement of the relMJKsus and associated heritage of Wales. or Ihat which is assockgted wlh Wale5, for the benefrt and edLtsiion of the people of Wales and the publ￿ generally. and in p￿t￿ulaT bul Y￿h￿l limitation to the ge￿ralty of Ihe foregoing. lo sècure the conservatKJn. repair and maintenance of chapels. churches, meeling houses or other rel@ious buikjings and their as9￿￿91ed buildings and environments srtuated in Wa￿s, other than those consecrated lo the use of the Church in Wales. together with their contents, burial grounds and curti*es. where Ihe buildings a￿ of relig￿v5 interest, or of partieular beauty or hL8lorical, architectural or conslfuctional inlerest", to proft￿te and encourage the preserVat￿)n and appwaI￿n of chape15, churches, meeting houses or other religK)us buildings, other than those consecrated to the use of Ihe Chur¢h in Wales, together with their ass(xKated buiklings, enwronments, contents, burial ground5 and curtilages where such buildings are of religious interest or of particular beauty or historic31. archf(ectural or conslNclK)nal interest. primarity srtuated in Wa￿, or that a￿ associaled with Wales. whether the buibJin9s are being used for thw"r orKJinal purpose of not, and to advise on their conservation.. Trust aims to promote and advance the ielyityjs of Wale5 by.. quiring. as an owner of last resort. a lThrted numbw of redundant religious buildings of signifKance and ensuring their ConServat￿n to the hwjhesl slandards providing advice an¢J infomWt￿n 10 those ¢)wning or responsible forchape15 and other histori religious buihlings, and to ot￿r interested part￿$. The Trust's remit covers buildings of all denominations and farth$. except for the Church in Wales, which has tts own scheme in pl￿e with The Friernls of Friendless Churches and Cadw. Revlew of adivltles and fulure developments The Trust was awarded a Cathw capital grant of £100.0(Kl in November 2019 for 2019r2020 and 2020r21 subj'ect to the prOdUct￿n of conservatb)n management plans for each building and an agreed work programme for 2019120 and 2020r21. In 2(Y21 The Trust abo received an exlra £69.348 of funding from Cath dL* lo the increased cost of ccmlracts as a direct resutt of the pandemic. The capital works planne(1 for 2020 were delayed until 2021122 dueto the pandemic. Work has progressed and is detai￿d below. Impact of COVID-19 on Ihe Trust hvo members of staff have been able to work from home. but wth IKntted resources they have been unable to provide any Significant online pr￿nCe. The Trust￿ and staff have been able to engage with every¢Jay Trust business through the acquisiiw)n of ZO￿￿. There is no doubt that the CovhJ-19 pandernic has been a challenge for everyone. including heritage organisalions. The Trust applied for and was sUC￿Sful with three rounds of Welsh Govemmenl Cuf(ural Recovery Fund ICRF)- The Fund's aim was to ensure the curture and heritage sectorsurvives the Covid-19 crisis and remains wbtant, vrabbe and sustainable in 2021 and beyond. A st¥mmary of the wort of tts Trust is sel out below. Bulldlng$ lor Acquisltion The Trust continues io befully CKcUp￿d workirg with thecurrentportfolioof buildin9s al￿adY acquiretl, or in process of being acquired. The Trust has continued to WO￿ to remain informed aix)ut redundant religious buildings potentially suitable for acquisi(ion 8nd conservation. The Trust is aware of an accelerating rale of redundancy, and of a clear indic*ion that Ihe nalure. number and age profile of cong￿9a1K)ns caring lor buildings will mean that an increasing number of buildings of significance will become redundant in the short to medium lemi. The Trust's ￿Mit is to conseThe examples of redundant non-church in Wales places of worship of exceptional archrtectural andlor historK interest. F[￿hokI ownetship and management of even a small number of buildings is burdenscfft and a liabilrty for trustees. and acquisition of new building5 to-date nbnues to be a readrve process but guided by the prcduction of our'signrfunl Chapels. list. Using rigoroLtrS criteria, Iruslees have ¢denlbfied those buildirrfJs which they Consider lo be of exceptional architectural anthor historic interest. The Tfusl has ￿qUI￿d buikjings at less than market value, under its status as a prescllbed charrty under the Redundant Churches and Oiher Religious Buildings Act 1￿9. las amended in Schedule 5 of the ChaTilies Act 1992). ￿r*eVer a deusion is ma(le to prcreed v￿h a Iransler on s￿h temis, the . Trusl is very graleful lo the respective disposing Trustees for their co-operaiion. As the Trust becomes aware of poSs￿le candidate buildings, they are scrutinised by the Buildings SubJt hot-lin* pointing io the south facing wall. The Trust also designaled fvnd5 from the seeorKI tranche of CRF funding. Thè ntractor was Towy Prqects Ltd, supervised by Consefvat#)n Building SuNeyor, Cad Morgan. Penti h nr_ Sen A five-year conservation management plan was p￿luced for Beili Du as part ol a capilal work programme lunded by Cadw for 2019120 and 2020r21. Capital worts scheduled for2020were delayed due lo the pandem￿ unlhl 2021. These works saw Ihe major repaif of the flr>y. The T(ust also designated fLbnds from the second tranche of CRF funding for further emergency repairs lo the building. The ¢onliactors were Twy Projects Ltd, and the archrte¢ts ￿ Awn Jones Penseiri Ltd. Penlel Presb erHn Church of Wales rade I A five-year conservation management plan was prc¥Juced for Peniel as part of a w)ilal prograrnme lurKJed by Cadw for 2019r20 and 2020r21. The Trust was $￿eSSfUl with a NatKJnal Lcltery Her(tage Fund grant as well a$ the Cathv Work programme grant for the repair of rts Icon￿ pedimenled portw. wh￿h was conwleled in 2019. Howevef. due to the pandemic the TnJ$t was not ats￿ to del￿er the interpretation element of this project al Ihal lime. In 2021, a Iccal facilrtator, S￿n Shakespear and a local artist, Sian Elen Jones worked wf(h the con9regalrfj. local schcK)l and Ihe wider cerfnmunity as part of the design and development of an inlerpretalion panel for Pen￿1. which has been installed. Funds from the second Iran¢he of CRF funding enabled the installation of a new boiler by Aer Cymru and addilKJnal emergency repairs by the Original Roofing Company. Ainon Ba list LlanLNchl iade Il. A five•yeaf conservat*Jn management p￿n was prc¥Juced for Ainon as part of a capital w￿k programme funded by Cth for 2019r20 and 2020r21. Capital worf(s scheduled for2020 were delayed due to the Pandem￿ until 2021r22.The Trust also deS￿nated funds for emer9ency repairs lo the building from Iwo tranches of CRF fun(Jing. Carmel United Refomied Chufch Nantmel nr Llandrindod Wells P rade Il. A fve-year conservatw mwgement plan ￿￿$ pr(#Juced for Carmel as part of a capital h￿Ik programme funded by Cadw for 2019r20 and 2020r21. Capital woths scheduled lor 2020 were delayed due lo Ihe pandemic until 2021.The works include repairs to the stairs. winl(ws and extemal joinery, in &Ydilion lo lime washing the exterior. The Cont￿Or is David Siggery Ltd and the architectwas Mike Garner, ￿th superyision by Conservathjn BU￿Ing Surveyor. Carl Morgan. bach nited Reformed Church Llandrindod Wells P dell A fwfryear conseNatson management plan wa5 produced for Caebach. Capital works We￿ un¢Jertaken as a resurt of money received from an Al￿n Balley legacy fund. The VK)rk was carried out by David Siggery Ltd and supervised by Conseryation Building Surveyor, Cart Morgan. Salom elsh Ba tist Nan Ilcffl Maest The Trust has deswjnated funds for emergery repairs lo buildirvj frLYn the second tranche of CRF fun(Jing. The contfftctor is David Siggery Ltd. with supervision by cOnse￿￿10n Building Surveyor. Carl Morgan. Role as advisory body The Trust ha5 also been eslabltshed with the in1ent￿n of becomiNJ an advisory body and a Source of infcrfmation lo those owning or responsiblefor historic religious buildings in Wales. Atthough ￿$oUrCeS are scarce, staff have continued lo proV￿e some inforrnation to those requesting help, mainly on funding issues. arKI enquiries have been received via the Trust's website. The Trust supports tr￿ prcmolion and advancement of Ihe religious and asscti3led herrta9e ofW81es, or that wh￿h is associated wth Wales. for the benefil and educats.on of the people of Wa￿S and the publ￿ generally. The focus during the pandemic has been on the promotKJn of the Trust's buildings and other buijdings and other assctk*ed herrtage thrO￿Jh the websile and social medra. Webslte The Trust's blingual website continues lo be an important part of rts communicatwjn with supporters and Ic¢al communrties. In 2021122 il attracted 7.277 new Use￿ and 426.287 pageviews. The website is managed by Orangeleaf Sy51ems Ltd dvJilal heritage consullants. The Trust's Facebook page and its Twtter account both have over 1,1CQ folknvers. Dr M*lyr Powel build5 on these accounts to increase public Pfofile and carries out weekly OLrtput Ihrough our social rnedia channels. He has a Dc¢tor8le in history. with a back9round in modem history, international lalions and strnte9￿ studies. Friends ol the Trust The Trust has 8 natK)nal FrEnd5 group. ￿Mbersh￿ of whKh starvjs at 100 (as of 31 March 20221. The active Fr￿ndS grc*Jps Ipre-pandeM￿j at Yr Hen Gapel has 5 members, the group at Hen Cwrdd has 9 members and the gr￿P at All￿) has 5 ffwibers. Due to the pandemic no signrfunl activity has taken place. Links with other oryanlsati(¥ns The Trust has maintained its links several like-minded organi&4tions- the Historic Chapels Trust, the Friends of Friendles5 Churche5, the Scottish Redundant Churehes Trust ar+d the Churches Conse¢valion Trust - as well as with ￿1￿j10us and other inslrtutions in Wales and further afield. The Trust also has links with the Hist￿￿ Religh)us Buiklings Aliance. The Trust has a successful working re￿tiOnship with Capel. the Chapel Hefitage Scciety in Wales. and is grateful for the role played by trnstee O. Huw Owen. The Trust has a successful wothing relationship wth the Royal CommiSs￿n on the Ancient and Historical Monuments of Wales. parti¢uL4dy in regard to the Trust's website and ongoing work on identtying Wales. rr*)sl signifunt chapels, and 15 grateful for the invaluable assistance PiOVKled by RCAHMWS ofter Susan FEbJing. who akn attends the Board meetings in an advr50ry capacty. The Trust is a membei ofthe Wales COU￿11 for Voluntary Att￿n. and the Hentay Trust Ne￿Ork. The Trust is a member of Future for Relb3K)us Her*age, the European netswork for historK pla¢8s of worship wh￿h aims to bring together those work to protect reINJ￿)uS herit￿e across Europe. Staff or trustees have represenled the Tru$1 at virtual meetings ot the Historic Places of Worship in Wa￿$ Forum and the wa￿ Heritage Group. The Twst contsnues to respond to various government consutsts'ons. Financlal Revlew The Trust has continued to develop its activitw lo buitd upon what li has athieved to date. Funding Current fundin9 arrangements with cal￿ are on an annual￿ renewabte basis. and Ihe Trust has recewed COTe-funding from Cadw for the administration and development of the Trust during ihe year. The Trust, however. continues lo q)erate with insufficient resources to develop its projects in the m05t effeclNe way. and to make the most efficient vse offijnts al￿adY granted. ca￿ has a150 continued to contribute t¢)wards project ovetheads. in particular, funding the insurance premiums and utilty bills * building. until projects have an inecxne lo enable them to pay their •vn way. Cath has alsoconlributed capital money tthvards an agreed prtrjrafnme ofwoth-£50.OCOfor2019120 and £50,000 for2020121. and agreed an increase by £69.348 in 2021. a tcial capital grant of £169,348 due to an increase in tender prices arL8ing from the pandemic. The Trust continues to receive funding ftcrfn the Listed PL%es ol w0￿bIp Grant Scheme for VAT paKI by the Trust cfj eligible work al its buildings_ As noted above the Trust was successful in rts application for three tranches of Welsh Government Cuhural Recovery Fund5 ICRFI. This enabled the Trust to undertake emergency repairs al the hapels lisled at4)ve. Trust is also grateful to its Friends and pfivate donors generalfy and their genero*ty lo the TrusL d whose Contribut￿nS are augmented by the Gift M"d claimed in respect of their donabons. These included donations from the o￿OthY Watkins FoundatKJn, £1.000.' the Peter and Tere5a Harri5 Charbtable Trust, £2,000." Caebach cOngregat￿n grft, £10,000. John and B[￿get Cherry, £1.000.' and local donations at Yr Hen Gapel, £600.The Irust also receNed personal donation5 from DavKI SheppaTd, £500". the Revd. Roger Steward £50., Anthony Pugh-ThcNmas £25. The Trust greatly appreciates all donations receNed. Current funds are still In$Lrf￿lent for all the Trust's requirements. Its actNities therefore continue to be concentrated on the conseThalion and management of its buildings, rather than on any subslanlial advisory work. atthough the Trust's website ts a means of beiro able to provide support more widely to those who s&k it. Reserves policy As an organisation mainty funded by grants for work in hand. the Trust has not been ab￿ lo build up reseNes of any sKJnffjicance to date. The Trustees would like to be in the situation of being able lo build up a n*)desl amount as a resetve lor unforeseen eventualities. Futur8 Plans The Board of Twstees monitors tryxh the Trust's day-to-day aclrvrtEs its development plans on a regular basis in order to make the best use of rts IIMrt&￿ resources. The work of the Trust is based around four main areas of actNity'. Acquisit￿. c￿SerVatH)n. Participation & Interpret8lKJn, and Running the Trust. The Trustees piK)filise activities according lo need. and in line with the resources avaslable. In doing So, Post pandemic the Trust will continue its work of seeking to conserve an important element of the histtxy and character of Wales. Trustees, respon5ibillties in relation to the financial statements Company and charitsble law requi￿ the Trustees to Prepare financial st*emenls for each finanoal year which give a true and fair view of the state of affairs of the charity antl of the surplus or del￿11 of the charty for that period. In preparing those financial slatements. the Tw5tees have." sekcled Suitable accounling Pol￿￿$ and then applied them consistently made judgements and estimates that are reasO￿le and pmdent stated whether applThble accwnting standards have been fdlowed prepared the financial ststement5 on the going concern ￿15. The Trustees have overall ￿pons￿l11ty for ensuring that tr* charity has apprc¥Jriate systems of controls. financial and otherwise. They are also responsible for keeping prq>er aceounting records whtch diselose wi(h ￿asOnable accuracy al any lime the financial posilKJn of Ihe charrty and enable them lo ensure that the financol stslemenls compty the Companies Act 2006. They are also responsible for safeguardin9 the assets of the charity arNJ hence for taking reasonable steps for the prevention and detection of fraud aThJ olher irregularities and to provide reasonable assurance that: the Charty is operating efficwlly and efleaNety its assets are safeguarded against unaulhorised use or disposrth proper records are maintwned and financial infomialion used within Ihe chanty or for pUbl￿allOn is reliable the charity conyth'es with relevant laws and Wulat￿nS. The systems of internal control are designed lo provKJe ￿Sonab￿. but not absolLrte. ossuran¢e against m*erial mis-statement or loss. They inclLKIe'. a Strategic Plan and an annual bu¢Jget approved by Trustees regular considerat￿n by Ihe Tntstees of financial results variance from budgets delegatKJn of authority idenlificalion and management of risks. Accountsnts The Trust is ncl requireA to have its accounts audrted. An independent examinerfs ￿port has been prepared as the Trust's gross income is behveen £25.000 and £1,OC(),000 and the Twsl's lotsl assets (before liabilities) do not exceed £3.26m. No audrtots have therefore been appointed. A resolut￿n that WJ Matthew5 and Son will be re-appoinled as independent examinws was passed at the Annual General Meeting hebj on 25 May 2021 This report was apwoved by the Board of Trustees on .... . and signed on Is behalf by.. Neil Sumner (Treasurer) Independent examinevs report to the Trustees of Ymddiriedolaeth Addoldai Cymru Welsh Religlous Buildings Trust I report lo the charity trustees my examinalw of the &counls of the Company for the year ended 31# March 2022 set out on pages 13 10 22. R8sponslblliti•S and basis of report As the charity's trustees of the conwny (and also its directors for the purposes ol cornpany lawl you are responsible for the preparation of the xe￿nIS in acccrfdance wth the requirements of the Companies Acl {'the 2006 Att,). Having satisfied mysdf that the accounts of the charitable ccynpany are not ￿qUi￿ to be audrted under Part 16 of the 2006 Act and are e1￿Ible for independent examination. I report in respect of my examination of your charty's accounts as carried out under section 145 of the Charities Ael 2011 Ilhe '2011 Act'l. In carrying out my examination I have foll(￿ed the Directi¢)ns given by the Charity CommiSs￿n under section 14515)Ibl of the 2011 Act. Independent examinerfs report I have eompleted my examinalK)n. I confimi t￿t no matters have come to my attent￿n in connection with the examinat•)n gNir4J me cause to believe.. accountsng records were not kepl in respect of the ccrfnpary as required by section 386 of the 2006 Act.. or the accounts do not accord with those acc(wnting recor(ls' or the accounts do not comply with the accounting requiremenls of sed￿n 396 of the 2006 Act other than any requirement that Ihe accounts gNe a 'true and fail. vw which is not a matter CC￿sidered as part of an independent examinat￿n.. or the accounts have not been prepared in accor(Janoe with the methods and principle5 of Ihe Slatement of Recommended practice for aceounling and re￿Ing by charities lapplicable to ¢harities preparing thwr accounts in accordance with the Finanual Rewting Standard appIl￿ble in the UK and RepublK ol Irejand IFRS 102)]. I have no concems and have come across no other rr￿erS in connection wrth the examinalK)n to which attention should be dr&¥n in this report in orderto enable a proper understanding of the accounts lo bg reached. Mr David Chidley W. J. Mattheyts & Son Chartered Accountants Applicable listed body - ICAEW 11-15 Bridge Street Caernarfon LL55 1AB Dated: 181,,), p.10 Ymddiriedolaeth Addoldai Cymru Welsh Rellgious Bulldlngs Trust statement of Financial Activities (incorporating an Income and Expenditure A¢count} for the year ended 31 March 2022 Unfestricted Restrl¢ted Funds Funds Total 2022 Total 2021 Notes Incorne Donalions and granis 286.735 11.000 297.735 92.718 Income Irom charitable actsvrf￿5.. Donations and grant5 145.337 145.338 2,981 Other income 1,398 1.397 1,815 Total Income £288.133 £1￿.337 £444.470 £97.514 Expenditure.. Project Development Costs 179.083 10,337 189,420 73.900 Total Expendlture £179,083 £10.337 £189.420 £73.900 Net Income and net movernent in fund$ for the year 109.050 146,C 255.050 23.614 Fund Balances at 1 April 2021 41.786 1,1154.&80 1.105.846 1.082,232 Fund Balances at 31 March 2022 £150.836 £1,210.060 £1,360,896 £1.105,846 The notes on pages 13 to 19 fomi part of these account5. p.11 Ymddiriedolaeth Addoldai Cymru Welsh Religlous Buildings Trust (Company number 3870343) Balance Sheel at 31 March 2022 2022 2021 FIXED ASSETS Heritage Assets 1.240.557 1.085.900 CURRENT ASSETS Oebtors and Prepayments Cash at Bank 10 126.015 21,977 21,977 CREDITORS: Amounts falling due thin one year 11 15.6761 12,031} Not Cun•nt Assets 120.339 19,946 NET ASSETS £1,360.896 £1.105,846 FUNOS Unrestricted Funds Reslricled Funds 12 12 150.836 41,786 1.210.060 1,(64.(EO £1.360,896 £1,105,846 In the directOTS' opinion the compary was entitled under seth'on 477{1} of the Companies Act 20C6 to exemption from the auditol ts accounts lorthe yearended 31 March 2022. No member olthe company has deposiled a nC￿￿e under SethKJn 476 requiring an aud* of these accounts. The directois are responsible for ensuring that the company keeps proper ac¢ounting records which comply wilh Section 386 of the C¢)mpanies Act 20[￿ and for preparin9 accounts which give a true and faif view of the stsle of affairs of the company as at the end of each financial year and of its profi( or loss for each year in accordance wrth the requirements of secI￿n 394 and Section 395 of the Companies Act 20C6. and whth otherwise Comp￿ with the requiremenis of that Ad relating to accoun15, so fw as appl￿b￿ to the conyny. The accounts are prepared in accordan￿ wrth the special provtsions of Part 15 of the Companies Act 2006 rdaling to small companies and have been prepared in accordance with the Financial Reporting Standard applicabte in Ihe UK and RepLtbltc of Ireland IFRS102). Neil Sumner (Treasurer) Dale. L9kk Dtceknkr Z£)Z£ The notes on pages 13 10 19 foim part of these accounts. p-12 Ymddiriedolaeth Addoldai Cymrn Welsh Religious Buildings Trust Notes to the Accounts forthe yearended 31 Ma￿h 2022 Accounllng Pollcles The principal accounting policies adopted, judgements and key sources of estimat uncertainty in the preparation of the financial st*ements are as follows.. 8asi5 of preparation The financial statements have been prepare(J in aecordance with Accounting and Reporting by Chafities.. Slalemenl of RecoMMer￿ed pract￿ applTrble to charities p￿parIng their acccmjnls in accordance wrth the Financial Reponing Standard applTrcable in the UK and Republic of Ireland IFRS102} -Charilies SORP IFRS10211, the Finaneial ReFQrting Standard appl￿ble in the UK and Republic of Ireland {FRS102} and the Companies Act 20C6. Ymddiriedolaeth Ad¢Joldai Cymru Welsh RekgDus Buiklings Twst meet5 the deTinrt￿n of public benefrt enlty under FRS102. Asseis and Ivabilities are inrtialty recognised al histor￿ cost or transaction value ￿n￿S otheThvtse stated in the relevant ￿cOUntIng policy note. Preparation of the a¢counts on a going concern basis The Iwstees consider that there are no significant uncertaintEs in respecl of the charitable company's ability to continue as a goir¥J concern. Income recognition policies Incoming resources are included in the Staten￿nt of financial actNities when the charity is entitled to the income. any performance condrtions attached to the rtems of inccme have been met or a￿ fully wrthin the conird of the charity. there is sufficenl certainty that receipt of Ihe income is consmlered probable and the income can be measured reliabty. Income is deferred the performarKe related condi1￿5 have not been met or rf the I￿orne is eamiarked for future per￿ds. Grants. where entitle￿nI is not condrtional on the delivery of a Sp￿tr￿ performance by the eharity. are reco9nised when the charrty becomes unconditk)nally entttled lothe grant. Income is deferred where the condiiions for entrtlemenl lo the incon* have not been or where the income has been given specifically for a futu￿ period. Incoming resourees from grnnts. Whe￿ ￿lated to perfoTman¢e and speafic de&verab￿. are aecounted for as the eharty eams Ihe right to ¢onsKlerat￿n by its perfomiance. Fund accounting UnrestrKted funds afe available for use by the tnJstees io promote the general objects of the charity al the discretion of the trustees. Re5trKled funds are funds Ihal Can onty be used for particular restricted purposeswthin the objects oflhe charity. ReStr￿t￿7ns afbse when specified by the donor or when lunds are rdised for a particular reslricled purpose. Expenditur• EXpendrtU￿ is recc#3nised once there is a legal or constructive ¢*ilWion to m*e a paymenl to a third parfy. li is probable that settlmnl wdl be requwed the amount of the cbligalion can be measured reliabty. Resources expended are induded in the Statement of Finan¢pl AetNi(ie8 ¢Jn an accruals basis. Char￿ab￿ expenditure comprises those costs irKurreJJ by the charity in the deltvery of its activities and services for ils beneficiaries. It includes both eosls that can be allocated directly to such activit￿S and tr￿ Costs of an indireu nature necessary to support them. Irrecoverable VAT is charged as a cost against the actNity for whtch the expenditure was irbcurred. p.13 Ymddirledolaeth Addoldai Cymru Welsh Religious Buildings Trust Notes to the a¢¢ounts for th8 year end8d 31 March 2022 Accounting Policies Support costs Support costs are tr￿e lunctions that assist the work of the ¢harty but do not (Jireclly undertake charitable xtivi(ies. Support Costs include costs of administration. finance. personnel, payroll and govemance COSIS wh￿h supports the ¢haritabbe prcgrammes. Capital Expend5ture Capital assets wrth a cost whth exceeds £1.CO] are C*lPitalised in the xcounts. Herrtage assets are shown al ￿$1. Depwkqlion is provided t￿ fixed assets at follxfing rates: Office equipment over4 yws on a straight-hne basis Depreciatton is not prov>Jed ¢)n freehold pr¢>Pert￿ as it B Ihe polw of the Irust to maintain them to a high stsndard so that their resTrJual va￿e is not less than their cost. Heritage Assets The a¢quisrtion cosl and renOVab"￿ cost of chapels are stated at ¢osl. Pension costs The cost of pfoviding pension and rekted is chwged lo the SOFA over the employee's se￿￿e lives. The charrty makes defined corhtributK)n pension payments. Debtots Tfade and other debtors are recognised at the settlement amount due after any trade dsscounl offe￿. P￿paYMentS are valued al the amount prepaKI aftef laking account of any trade discLxJnls due. Cash at bank and in hand Cash at bank and cash in hand includes cash and short temi highly liquid investmenls with a short matunty of three months or less from the d*e of acquisilKin or openirrfJ of the deposf( or SIm￿ar account. Credit¢rn and provision$ Credrtors and provish)ns are recognised where the chanty has a present obligation resulting from a past event that will prc*Jably resutt in the transfer offunds to a third paty and the amounl due to settle the obl￿at￿ can be measured or estimated reiiabty. C￿dItorS and provisions are normally recogntsed at their settlement amount after all¢)wing fN any Ifade discounts Financial instruments The charity only has financial assels and financ￿1 liabilrties of a kind that qualify as a basic financial instruments. Bas￿ financkal instruments are in￿la1￿ recognised at transaction value and subsequently measured * their settlerrEnt value_ Legal status ol the Charity The company is limrted by guarantee regtslered in Wales. If upon the winding up of the company, there remains after the satisfaction of all debts and liabilities. any property whatscever the sarne shall not be pahl to or distributed among the membeTS of the company. but shall be given lo some other charrtable instrtutK)n having similar obj.eels lo the Company. As members will not receive any surplus from the company. a Reconcilotion of Members, Funds is not required. p.14 Ymddiriedolaeth Addoldai Cymru Welsh Religious Buildings Trust Notes to the accounts for the year ended 31 March 2022 Unrestrided Restricted FuTrds Funds Totsi 2022 Total 2021 Income from donatlons and grants Cadw Revenue Grant Donations National Churches Trust Welsh Cuhural Recovery Fund RCAHMW grant 70.808 2.902 25 213.000 70,808 12,902 25 213,000 1,CQO 70,808 6,760 5,150 10,000 10,000 1.000 £286,735 £11,000 £297,735 £92,718 Income from Charitable activtties Donations andgrnnts Unrestricted Restricted Fund$ Funds Total 2022 Total 2021 Cadw Caprtal Grants Heritage Lottery Fund Listed Places of Worship VAT Grant Scheme Welsh Church Act Fund. Camw1hensh 102.834 102,834 3.070 3.070 ,433 36,433 3,CQO 2,400 581 £145.337 £145.337 £2,981 Anatysl$ of expenditure on charitable activities Conseréation Projects Total 2022 Total 2021 Wa9es Working from horne costs Travel and Subsistence Religiou5 buildings maintenan Insurance HLF Penid Inlerpre&*hJn Project Professional costs Govemance costs Support costs 53.929 720 1,939 83,740 18.440 5,200 53.929 720 1.939 83,740 18.440 5,200 41.732 7?0 575 3.076 15,231 1,204 2.485 1,398 7,479 1.639 23.813 1,639 23.813 £189,420 £189.420 £73,900 Expendrture on charitable acfivrt￿s in the year was £189.420 12021 £73.si)01. Of this expenditure £179.053 {2021 £64.2711 was unrestricted and E10,337 (2021 £9.6291 was restr￿ted. p.15 Ymddlrledolaeth Addoldal Cymru Welsh Rellgious Bulldlngs Trust Notes to the accounts forthe year ended 31 Ma￿h 2022 Anatysis of 9ovemance and support costs Inrtially. the charilable Company Klentffies the costs of rts support functiDns. It then identrfies those costs which relate to the govemance function GeneralGovernance Support function Total 2022 Total 2021 Rent and Premws Heat, Lvjhl and Ulili(ies Committee Meetings and AGM Printing. Postage and Stationery 336 Advertisin9 5.530 Telephone 870 Repairs, Rene•vals & cffi￿￿ter Costs 7,682 Insurarsces 197 Subscriptions Accounlancy Legal and piofessional . Companies House fee Bank charges Genefal expenses Depreciation of office equipment 2.752 2.752 370 336 5.530 870 7.682 197 180 1,269 5,592 13 31 2,098 370 459 631 791 1,980 338 226 1,398 1.269 5.592 13 31 13 83 621 621 £23.813 £1.639 £25.452 £8,877 Analy$l$ of staff costs. trustse remuneTrtion and expenses, and th• cost of key management petsonnel 2022 2021 Staff salaries Pension Payments 49.053 4.876 37,938 3,794 £53.929 £41,732 Two individuals We￿ employ￿ in the year12021-2}. £41 of wsK)n liabilit*s existed at the year- end12021- £741 No employee had employee beneffts in excess of £60,JDO a year12021- £Nil}. The key management ￿rsOnnel of the charity comprise the Trusiees and management team. The total empbyee benefrts of the key man￿ernent personnel of the charity were £53,929 12021 £41.732) No truslees recepied arry remunerat*)n during the year12021 - Nill. No charity trustee received payment for professpJnal or other servKes SUppl￿d to the chanty {2021- £Nill. Oul of pocket expenses were reimbursed to trustees as f￿1￿$ 2022 Number 2022 2021 Number 2021 Committee Meetings and AGM 358 p.16 Ymddirledolaeth Addoldai Cymru Welsh Religious Buildings Trust Notes to the accounts for the year ended 31 Ma￿h 2022 Cornortlon Tax YrtK1diriedolaeth Addokjai Cymru Welsh Rel￿￿u5 Buildings Trust being a registered chaTty is exempt from Corporation Tax. Tangible Fixed Assets Heritage Office Buildings Equipment Cost Al 1 April 2021 Additions 1.085,001 153,993 3,988 1,285 Al 31 March 2022 1,238,934 5,273 Dep￿Ciall0n At 1 April 2021 Charge for the year 3,089 621 Al 31 March 2022 3,710 NetBook Value Al 31 March 2022 £1.238,994 £1,563 Al 31 March 2021 £1.085,001 £899 Summary analysls of herltsge asset transxtion 2022 2021 2020 2019 2018 Purchases Donations 153,993 2,880 66.015 183.560 2B3.930 Total Addrtions £153,993 £2,880 £66.015 £183,560 £283,930 Charge for impaiment Disks)sals Prtxeeds from di5POS81$ 10. Debtors 2022 2021 Grants due p-17 Ymddlrledolaeth Addoldai Cymru Welsh Religious Bulldlngs Trust Notes to the Accounts forthé yearended 31 March 2022 11. Creditots: AnThnts falling due within orte year 2022 2021 Accruals Trade credrtors Deferred income 2.117 1,559 2.000 2,031 £5,676 £2,031 12. Slatement of Funds 1 April 2021 IncomeExpenditur•TraTr51ers 31 March 2022 Core funds ReslriGtgd Funds.. Libanus Chapel Hen Dy Cwrdd Beili Du Fund Bethania Chapel Yr Hen Gapel Peniel ChaFel Carmel Salem Caebach RCAHMW grant 41.786 288.133 175.059 {4.0241 150,836 123,037 179,809 127,4 258.651 19J.604 183.487 12.496) 11.528) 5.000 69,101 2,108 55,664 167 7.025 7.972 192,139 181.917 183,160 258.651 197.629 183.487 167 7.972 2.496 1.528 3.300 1,922 I.￿0 10.000 13.078 £1.105.846 £444,470 £189.420 £- £1.360,896 1 April 2020 In¢omeExpenditureTrnnsfers 31 March 2021 Core funds Restiicted Funds." Libanus Chapel 123.857 Hen Dy Cwrdd 178.529 Beili Du Fund 127,955 Bethano Chapel 260,168 Yr Hen Gapel 190,472 Peniel Chapel 185,151 Camel 18521 Chapel and B¥i81 Trail Prqecl 630 Salem 12021 Caebach 16.524 89.533 64.271 41.786 820 520 459 1.517 468 2,245 123,037 179,809 127.496 258,651 190,604 183,487 12.496) 581 630 11,528} 5,000 s.000 £1.082.232 £97.514 £73.9)0 £- £1.105,846 Fund balances at 31 March 2022 ar• represented by: Core Funds Project Fund Total Frxed Assets Current Assets Current Liabilsiies 35,721 1,204,836 1.240,557 118,791 7.224 126,015 (3,676) 12,C(oi 15,6761 £150.836 £1,210,060 £1.360,896 Ymddlrfedolaelh Addoldai Cymru Welsh Rellgious Buildings Trust Notes to the A¢¢ounts forthe year ended 31 Ma￿h 2022 Postyear end funding The Trust does not enter into Contr￿$ for repairs until all the necessary lundirrfj has b*n raised. Funds are etther recewe¢J prior to commencement of any work. or. more usually. fomial funding offer Wer$ or fvnding contrads are received, wrth the actual funds to be drawn down period￿alty as work is completed and invoices received. Such funding can spread over more than one year, and liakn"lities that arise during one year met by r*)St year end receipt offund$. 13. Capital Commitments At the year end. the charitable c￿￿panY dbj not have any ccwnmitments under capital conlracls 12021 £nil). 14. Prior year fund breakdown Unwestri¢ted Restricted Funds Funds Total 2021 Notes Incomg Donalions and grants 87.718 92.718 Income from chantable activibes.. Donatnns and grar 2.981 2,981 Other inco 1,815 1,815 Total Income £89.533 £7.981 £97,514 Expenditure." Proie¢t Development Costs 64.271 9.629 73,900 Total Expenditure £64,271 £9,629 £73.900 Net Income and net movement in funds for the year 25.262 (1.648) 23,614 Fund 8alances at 1 April 2020 16.524 1.C65,708 1,082,232 Fund 8•lance5 at 31 March 2021 £41.786 £1.W.C60 £1,105,846