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2022-03-31-accounts

Page
Reference and Administrative
Details
Charitable Objects
Report of the Trustees 3to 9
Report of the Independent Auditors 10to 11
Statement of Financial Activities 12
Balance Sheet 13
Statement of Cash Flows 14
Notes to the Statement of Cash Flows
Notes to the Financial Statements 16to 32

2022 2021
Unrestricted Restricted Endowment Total Total
funds funds funds funds funds
Notes f f f f E
INCOME AND
ENDOWMENTS FROM
Donations
and
legacies 806,048 2,913,037 3,719,085 1,759,222
Other trading activities 20,728 20,728 6,439
Investment
income
74,285 8,641 2,421 85,347 81,713
Total 901,061 2,921,678 2,421 3,825,160 1,847,374
EXPENDITURE ON
Raising funds 17,985 7,967 1,418 27,370 23,055
Charitable
activities
200,172 3,161,063 3,361,235 1,711,730
Total 218,157 3,169,030 1,418 3,388,605 1,734,785
INET NCOME/(EXPENDITURE) 682,904 (247,352) 1,003 436,555 112,589
Transfer between funds 20 (272,690) 272,690
410,214 25,338 1,003 436,555 112,589
Other recognised gains/(losses)
Gains/(losses) on investment assets 11 29,656 (66,598) (3,629) (40,571) 977,308
Net movement in funds 439,870 (41,260) (2,626) 395,984 1,089,897
RECONCILIATION OF FUNDS
Total funds brought forward 2,799,373 1,493,641 463,505 4,756,519 3,666,622
TOTAL FUNDS CARRIED FORWARD
3,239,243 1,452,381 460,879 5,152,503 4,756,519
2022 2021
Notes f f
FIXEDASSETS
Tangible
assets
15 12,476 11,612
Investments 16 4,272,820 4,413,216
4,285,296 4,424,828
CURRENT ASSETS
Debtors 17 634,610 211,714
Cash at bank 1,056,002 349,094
1,690,612 560,808
CREDITORS
Amounts
falling due within one
year 18 (823,405) (229,117)
NET CURRENT ASSETS 867,207 331,691
TOTAL ASSETS LESS
CURRENT LIABILITIES 5,152,503 4,756,519
NET ASSETS 5,152,503 4,756,519
FUNDS 20
Unrestricted
funds
3,239,243 2,799,373
Restricted funds 1,452,381 1,493,641
Endowment
funds
460,879 463,505
TOTAL FUNDS 5,152,503 4,756,519
2022 2021
f E
Notes
Cash flows from operating activities 523,031 696,333
Investing activities:
Purchase oftangible
fixed
assets (1,295)
Purchase of investments (472,787) (1,199,411)
Proceeds on disposal of investments 572,612 606,626
Interest received 746 635
Dividends received 84,601 81,078
Net cash provided by (used in) investing
activities 183,877 (511,072)
Change
in cash and
cash equivalents in the
reporting period 706,908 185,261
Cash and cash equivalents at the beginning ofthe
reporting period 349,094 163,833
Cash and cash equivalents atthe end ofthe reporting
period 1,056,002 349,094

RECONCILIATION
OF
NET INCOME TO NET CASH FLOW
FROM OPERATING ACTIVITIES 2022 2021
E
Surplus for the year 395,984 1,089,897
Adjustments
for:
Depreciation
oftangible
fixed assets
431
Loss/(gain)
on investments
40,571 (977,308)
Interest received (746) (635)
Dividends
received
(84,601) (81,078)
Movement
in working capital:
(Increase)/decrease in debtors (422,896) 447,556
Increase/(decrease) in creditors 594,288 217,901
Cash generated
from
operations 523,031 696,333

3. DONATIONS AND LEGACIES
Unrestricted Restricted 2022 2021
f f. f f
Donations 355,427 4,244 359,671 115,992
Royalties received 1,412 1,412 961
Legacies 350,950 350,950 108,890
Subscriptions 98,259 98,259 50,554
Grants 2,908,793 2,908,793 1,482,825
806,048 2,913,037 3,719,085 1,759,222
Grants received, included in the above, are as follows:
Unrestricted Restricted 2022 2021
f f f
CADW 235,805 235,805 166,888
Diocese of York 40,000
Church
in Wales
66,608 66,608 40,000
Listed Places ofWorship Scheme 490,170 490,170 195,937
Historic England 2,110,010 2,110,010 1,040,000
Other grants 6,200 6,200
2,908,793 2,908,793 1,482,825
Forthe year ended 31March 2021:
Unrestricted Restricted 2021
f f f
Donations 72,547 43,445 115,992
Royalties received 961 961
Legacies 98,890 10,000 108,890
Subscriptions 50,554 50,554
Grants 1,482,825 1,482,825
222,952 1,536,270 1,759,222
Grants received, included in the above, are as follows:
Unrestricted Restricted 2021
f f f
CADW 166,888 166,888
Diocese of York 40,000 40,000
Church in Wales 40,000 40,000
Listed Places ofWorship Scheme 195,937 195,937
Historic England 1,040,000 1,040,000
1,482,825 1,482,825
4. OTHER TRADING ACTIVITIES
2022 2021
f f
Christmas
card sales
8,770 5,039
Other income 11,958 1,400
20,728 6,439

Unrestricted Unrestricted Restricted Endowment 2022 2021
f f f f f
UK investment income 62,713 6,815 2,421 71,949 72,906
Overseas investment income 11,565 1,087 12,652 8,172
Deposit account interest 7 739 746 635
74,285 8,641 2,421 85,347 81,713
For the year ended 31March 2021:
Unrestricted Restricted Endowment 2021
f f f
UK investment income 63,071 7,157 2,678 72,906
Overseas investment income 6,842 1,330 8,172
Deposit account interest 443 192 635
70,356 8,679 2,678 81,713
COST OF RAISING FUNDS
Unrestricted Restricted Endowment 2022 2021
f f f f f
Representations 895 895 589
Brokers' fees 17,090 7,967 1,418 26,475 22,466
17,985 7,967 1,418 27,370 23,055
For the year ended 31March 2021:
Unrestricted Restricted Endowment 2021
f f f
Representations 589 589
Brokers' fees 14,454 6,884 1,128 1,128
15,043 6,884 1,128 23,055
CHARITABLE ACTIVITIES COSTS
Direct Support Total funds
costs costs
f f f
Charitable activities 3,337,135 24,100 3,361,235
For the year ended 31March 2021:
Direct Support Total funds
costs costs
f f f
Charitable activities 1,702,055 9,675 1,711,730

ECT COSTS
Unrestricted Restricted 2022 2021
f f f E
Purchase ofobjects of beauty 19,320 19,320 30,300
Office costs 20,527 20,527
Repairs and maintenance 2,867,088 2,867,088 1,317,565
Field Officer's expenses 59
Insurance 19,888 2,150 22,038 17,568
Travel expenses 9,310 9,310 3,780
Ancient Monuments
Society shared costs
(3,041) 500 (2,541) 37,188
Website and Media 33,763 33,763 17,972
Newsletter 9,863 9,863
Other costs 2,659 2,659 2,566
Salaries 79,949 79,949 52,379
Pension 3,639 3,639 2,831
Depreciation 431 431
New Vestings 1,010 1,010 14,165
New Mechanism —Repairs and maintenance 207,019 207,019 182,726
New Mechanism —Professional Fees 16,408 16,408
New Mechanism - Insurance 14,146 14,146 12,848
New Mechanism —Travel expenses 2,227 2,227
New Mechanism —Field Officer's expenses 3,058 3,058
New Mechanism -Ancient Monuments Society shared costs 23,252 23,252 6,500
New Mechanism —Sundries 3,969 3,969 3,608
177,998 3,159,137 3,337,135, 1,702,055
For the year ended 31March 2021:
Unrestricted Restricted 2021
f f F
Purchase ofobjects of beauty 30,300 30,300
Specific grants
Repairs and maintenance 1,317,565 1,317,565
Field Officer's expenses 59 59
Insurance 15,640 1,928 17,568
Travel expenses 3,780 3,780
Ancient Monuments
Society shared costs
36,688 500 37,188
Website and media 17,972 17,972
Other costs 2,566 2,565
Salaries 52,379 52,379
Pension 2.831 2,831
Depreciation 649
New Vestings 14,165 14,165
New Mechanism - Repairs and maintenance 182,726 182,726
New Mechanism —Insurance 12,848 12,848
New Mechanism -Travel expenses
New Mechanism —Field Officer's expenses
New Mechanism —Ancient Monuments Society shared costs 6,500 6,500
New Mechanism —Sundries 3,608 3,608
146,021 1,556,034 1,702,055

Unrestricted Restricted 2022 2021
f f f f
Trustees'travel expenses 2,064 2,064 219
Bank charges 1,372 576 1,948 1,367
AGM and other expenses 13,488 13,488 1,394
Auditors' remuneration 5,250 1,350 6,600 6,695
22,174 1,926 24,100 9,675
For the year ended 31 March 2021:
Unrestricted Restricted 2021
f f f
Trustees'travel expenses 219 219
Bank charges 802 565 1,367
AGM and other expenses 1,394 1,394
Auditors' remuneration 5,345 1,350
7,760 1,915 9,695
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2022 2021
f f
Auditors' remuneration —audit fee 3,500 3,500
Auditors' remuneration —non audit services 3,100 3,195
6,600 6,695
GAINS/(LOSSES) ON INVESTMENT ASSETS
Unrestricted Restricted Endowment 2022 2021
f f f f f
Realised gains/(losses) on investment assets (22,960) 8,066 3,197 (11,697) 28,043
Unrealised gains/(losses) on investment assets 52,616 (74,664) (6,826) (28,874) 949,265
29,656 (66,598) (3,629) (40,571) 977,308
For the year ended 31 March 2021:
Unrestricted Restricted Endowment 2021
f f f f
Realised gains/(losses) on investment assets 9,654 18,546 (157) 28,043
Unrealised gains/(losses) on investment assets 464,185 411,859 73,221 949,265
473,839 430,405 73,064 977,308

AFF CO STS
2022 2021
E E
Wages and salaries 75,463 50,529
Social security costs 4,486 1,850
Other pension costs 3,639 2,831
83,588 55,210

Unrestricted Restricted Endowment 2021
funds funds funds Tota I funds
f f f f
INCOME AND ENDOWMENTS FROM
Donations
and legacies
222,952 1,536,270 1,759,222
Other trading
activities
6,439 6,439
Investment
income
70,356 8,679 2,678 81,713
299,747 1,544,949 2,678 1,847,374
EXPENDITURE ON
Raising funds 15,043 6,884 1,128 23,055
Charitable
activities
153,781 1,557,949 1,711,730
168,824 1,564,833 1,128 1,734,785
NET INCOME/(EXPENDITURE) 130,923 (19,884) 1,550 112,589
Transfer between
funds
(15,554) 15,554
115,369 (4,330) 1,550 112,589
Gains/(losses)
on investment
assets 473,839 430,405 73,064 977,308
Net movement
in funds
589,208 426,075 74,614 1,087,897
RECONCILIATION
OF FUNDS
Total funds brought forward 2,210,165 1,067,566 388,891 3,666,622
TOTAL FUNDS CARRIED FORWARD 2,799,373 1,493,641 463,505 4,756,519
15. TANGIBLE FIXEDASSETS
Heritage Computer Tota Is
Equipment
f f f
COST 11,610 1,954 13,564
At 1April 2021
Additions 1,295 1,295
At 31March 2022 11,610 3,249 14,859
DEPRECIATION
At 1April 2020 1,952 1,952
Charge for year 431 431
Eliminated
on disposal
At 31March 2021 2,383 2,383
NET BOOK VALUE
At 31March 2021 11,610 866 12,476
At 31March 2022 11,610 11,612

Cash and
Listed settlements
investments
f
pending
E
Totals
f
MARKET VALUE
,At 1April 2021 4,260,278 152,938 4,413,216
Additions 518,192 518,192
Disposal s (584,310) (45,406) (629,716)
Revaluations (28,872) (28,872)
At 31March 2022 4,165,288 107,532 4,272,820
Listed investments comprise:
2022 2021
f f
United
Kingdom
equities and funds 1,360,792 3,212,232
Overseas equities 2,804,496 1,048,046
4,165,288 4,260,278
The historical cost ofthe total of investments held is: 3,387,829 3,201,323

DEBTORS:AMOUNTS
F
ALLING DUE WITHIN ONE YEAR
2022 2021
f E
Other debtors 634,610 211,714
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
f f
Trade creditors 814,555 216,595
Other creditors 8,850 12,522
823,405 229,117

Unrestricted Restricted Endowment 2022 Total 2021Total
funds funds funds funcls funds
f f f E f
Fixed assets 866 11,610 12,476 11,612
Investments 2,555,599 1,304,884 412,337 4,272,820 4,413,216
Cash at bank 406,887 602,239 46,876 1,056,002 349,094
Other current assets 283,390 349,554 1,666 634,610 211,714
Current liabilities (7,499) (815,906) (823,405) (229,117)
3„239,243 1,452,381 460,879 5,152,503 3,666,622

Unrestricted Restricted Endowment 2021Total
funds funds funds funds
E f f
2 11,610 11,612
2,603,031 1,398,677 411,508 4,413,216
193,478 108,740 46,876 349,094
16,202 190,391 5,121 211,714
(13,340) (215,777) (229,117)
2,799,373 1,493,641 463,505 4,756,519

Net movement Transfers Transfers
At 1.4.21 in funds between funds At 31.3.22
f f f f
Unrestricted
funds
General
fund
1,964,752 712,560 (272,690) 2,404,622
Designated
funds
834,621 834,621
2,799,373 712,560 (272,690) 3,239,243
Restricted funds
Welsh Churches —4 Original 8,023 (6,847) 3,961 5,137
Welsh Churches —New Mechanism 66,396 59,823 126,219
Other Churches
Cottam
Will Trust
1,298,705 (96,870) 1,201,835
Fabric funds 120,517 (270,056) 268,729 119,190
1,493,641 (313,950) 272,690 1,452,381
Endowment
funds
Brett Trust 229,161 (2,626) 226,535
James Johnston Fund 236,144 236,144
463,505 (2,626) 460,880
TOTAL FUNDS 4,756,519 395,984 5,152,503
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
in
resources expended losses funds
f E E f
Unrestricted
funds
General fund 901,061 (218,157) 29,656 712,560
Designated
funds
901,061 (218,157) 29,656 712,560
Restricted funds
Welsh Churches —4 Original 6,576 (13,423) (6,847)
Welsh Churches —New Mechanism 328,490 (270,160) 1,493 59,823
Other Churches 1,844,957 (1,844,957)
Cottam
Will Trust
6,935 (29,630) (74,175) (96,870)
Fabric funds 734,720 (1,010,860) 6,084 (270,056)
2,921,678 (3,169,030) (66,598) (313,950)
Endowment
funds
Brett Trust 2,421 (1,418) (3,629) (2,626)
TOTAL FUNDS 3,825,160 (3,388,605) (40,571) 395,984

Net movement Transfers Transfers
At 1.4.20 in funds between funds At 31.3.21
f f E f
Unrestricted
funds
General
fund
1,375,544 604,762 (15,554) 1,964,752
Designated
funds
834,621 834,621
2,210,165 604,762 (15,554) 2,799,373
Restricted funds
Welsh Churches —4 Original 9,826 (6,187 4,384 8,023
Welsh Churches —New Mechanism 26,421 39,975 66,396
Other Churches 10,000 (7,985) (2,015)
Cottam
Will Trust
909,625 389,080 1,298,705
Fabric funds 111,694 (4,362) 13,185 120,517
1,067,566 410,521 15,554 1,493,641
Endowment
funds
Brett Trust 152,747 76,414 229,161
James Johnston Fund 236,144 236,144
388,891 76,414 463,505
TOTAL FUNDS 3,666,972 1,089,897 4,756,519
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
in
resources expended losses funds
f f E f
Unrestricted
funds
General fund 299,747 (168,824) 473,839 604,762
Designated
funds
299,747 (168,824) 473,839 604,762
Restricted funds
Welsh Churches -4 Original 7,710 (13,897) (6,187)
Welsh Churches —New Mechanism 245,893 (205,753) (165) 39,975
Other Churches 818,725 (826,710) (7,985)
Cotta m Will Trust 7,538 (39,527) 421,069 389,080
Fabric funds 465,083 (478,946) 9,501 (4,362)
1,544,949 (1,564,833) 73,064 410,521
Endowment
funds
Brett Trust 2,678 (1,128) 73,064 74,614
TOTAL FUNDS 1,847,374 (1,734,785) 977,308 1,089,897

01 November
1978
SSAfran, leuan
R.Sannan,
Llantrisant,
Anglesey (999-yearlease)
07 October 1983 St Andrew' s, Bayvil, Dyfed (999-yearlease)
22 November
1989
St Mary the Virgin's,
Llanfair
Kilgeddin,
Monmouthshire (freehold)
07 February 1991 St Baglan's,
Llanfaglan,
Gwynedd
(freehold)
19 November 1999 St David's,
Llangeview,
Monmouthshire
(999-year lease)
19 November 1999 St Mary' s, Tal-y-Llyn,
Anglesey
(999-year lease)
19 November 1999 St Ellyw's,
Llanelieu,
Powys
(999-year lease)
19 November
1999
St Beuno's, Penmorfa,
Gwynedd
(999-year lease)
10 August 2000 St David's, Manordeifi,
Pembrokeshire
(999-yea r lease)
17 December 2000 Chapel, Hodgeston,
Pembrokeshire
(999-yearlease)
01 December 2002 St Cynhaearn's,
Ynyscynhaearn,
Gwynedd
(999-yearlease)
01 December 2002 St Mark's, Brithdir, Gwynedd (999-yearlease)
01 December 2002 St Mary' s, Derwen,
Denbighshire
(999-yearlease)
01 December 2002 St Eloi's, Llandeloy,
Pembrokeshire
(999-yearlease)
01 January 2005 St Brothen's,
Llanfrothen,
Gwynedd
(999-year lease)
10 June 2005 St Peulan's,
Llanbeulan,
Anglesey
(999-yearlease)
10 June 2005 St Decuman's,
Rhoscrowther,
Pembrokeshire
(999-yearlease)
24 April 2006 St Oudoceus's,
Llandawke,
Carmarthenshire
(999-yearlease)
01 February 2007 St Migael's,
Llanfigael,
Anglesey
(999-yearlease)
30 July 2008 St Michael's,
Llanfihangel
Rogiet, Monmouthshire
(999-yearlease)
14 May 2009 St Mary' s, Penllech,
Gwynedd
(999-yearlease)
01 December 2013 St Michael's, Tremain,
Ceredigion
(999-yearlease)
24 June 2016 St Michael
R. All Angels, Castlemartin,
Pembrokeshire (999-yearlease)
27 October 2017 St Michael
R All Angels, Gwernesney,
Monmouthshire (999-yearlease)
27 October 2017 St Dogfael's,
Meline, Pembrokeshire
(999-yearlease)
13 August 2018 StJerome's,
Llangwm
Uchaf, Monmouthshire
(999-yearlease)
13 August 2018 StAnno's,
Llananno,
Powys
(999-yearlease)
10 March 2021 St Philip's, Caerdeon,
Gwynedd
(999-yearlease)