||||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)|