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2020-12-31-accounts

Contents Pacae
Report
and
Statement
Responsibilities		 of the Trustees' 1 — 12
Independent Examiner's Report 13
Consolidated
Activities		 Statement of Financial 14 — 16
Consolidated Balance Sheet 17
Notes to the Consolidated Financial
Statements 18 — 26

YEAR ENDED 31 DECEMBER 2020
2020 2019
Unrestricted Restricted Combined
total		 Combined
total
funds funds fundsf funds
INCOMING
RESOURCES
Direct giving:—
Stewardship
envelopes
and gift aid
Open collections
Donations		 74,619
18,974
14,464		 903 74, 619
18,974
15,367		 92,466
24, 979
13,499
Mission:-
Collections
for special
purposes		 1,024 1,024 1,407
Indirect
giving:—
Income tax refunds
on gift aid		 25,070 25,070 23,160
Legacy gifts:—
Bequests
and legacies		 45,983 45, 983
Grants:—
Diocesan
Board of Finance
Job retention
scheme
Local
and
Church
Authorities		 43,730
8,085		 43,730
8,085		 6,000
Money raising:-
Sales, fetes
and concerts
Church hall
income
Churchyard
maintenance
Miscellaneous		 603
15,715
68		 4,431
196
1,202		 5,034
15,911
1,202
68		 14,361
38,480
2,563
400
Fees:—
Weddings,
funerals,
baptisms
and christenings		 1,866 1,866 14,509
Investment
income:—
Rents
received
Community
investment
fund
Bank interest
C.O.I.F interest		 1
196		 10,800
1,472		 10,800
1,472
1
196		 16,200
1,861
69
372
Other
incoming
resources:-
Insurance
claim		 76 76 2,420
TOTAL
INCOMING
RESOURCES		 249,450 20,028 269,478 252,746

YEAR ENDED 31 DECEMBER 2020
2020 2019
Unrestricted Restricted Combined
total		 Combined
total
funds funds funds funds
RESOURCES
USED
Maintenance
of Ministry:—
Quota
Clergy
expenses
Visiting
clergy
and readers
Secretarial
salary		 146,229
3,345
570
3,405		 146,229
3,345
570
3,405		 135,664
10,379
3,551
3,750
Maintenance
of services:-
Altar
requisites
Choir,
music
and
organ		 1,234
4,337		 1,234
4,337		 3,849
21,016
General
Benefice expenses:-
Salaries
and fees
Telephone
and internet
Printing,
postage
and
stationery
Newsletter,
magazine
and
publicity
Accountancy
fees
Equipment
leasing
and repairs
Gifts,
celebrations
and
donations
for clergy
Depreciation
Security
Sundries		 10,613
863
1,670
3,420
1,126
3,556
176
561		 4,190 10,613
863
1,670
3,420
1,126
7,746
176
561		 7,622
885
3.537
124
3,590
1,180
70
8,258
189
1,861
Maintenance
of churches:—
Light
and heat
Insurance
Repairs,
maintenance
and
professional
fees
—churches
Churchyard
maintenance
fund		 6,291
3,434
4,527		 750 6,291
3,434
4,527
750		 8,249
3/371
15,755
6,825
Maintenance
of property
(Church
houses
and hall costs)
Light,
heat
and water
Insurance
Repairs
and maintenance
church
hall
and houses
Sundries		 6,032
5,496
13,349		 1,198 6,032
5,496
14,547		 7,975
5,082
27, 080
19
Mission:—
Payments
to charities
Collections
for special
purposes
Hymn
books,
lectionaries
and
other publications		 153
95		 2,532
50		 2.532
203
95		 4,475
371
TOTAL
RESOURCES
USED		 220, 482 8,720 229,202 284, 727

2020 2019
Notes Unrestricted
funds		 Restricted
funds		 Combined
total
funds		 Combined
total
funds
E E E
TOTAL
ZNCOMING
RESOURCES		 249,450 20,028 269,478 252, 746
TOTAL
RESOURCES		 USED (220,482) (8,720) (229,202) ( 284, 727)
NET
INCOMING
(OUTGOING)
RESOURCES
MOVEMENT		 28, 968 11,308 40,276 (31,981)
TRANSFER
BETWEEN		 FUNDS
28,968 11,308 40,276 (31,981)
UNREALZSED
GAIN(LOSS) ON
REVALUAT1ON
OF
INVESTMENTS 4,566 4,566 9,395
28, 968 15,874 44, 842 (22,586)
SURPLUS
BROUGHT		 FORWARD 8 291,548 634,067 925,615 948,201
SURPLUS
CARRIED		 FORWARD 8 320,516 649,941 970,457 925, 615
CONSOLIDATED
BALANCE
31DE~ 2020		 SHEE T
2020 2019
unrestricted Restricted Tctal Tctal
funds funds funds funds
nates f
FIXED ASSETS
Tangible
fixed asset		 2 173,320 517,882 691,202 697,294
INVESTMENTS
Quoted
investments
Other		 79,
9,		 764
576		 79,764
9,576		 75,198
8,125
89,340 89,340 83,323
173,320 607,222 780,542 780,617
CURRENT
ASSETS
Debtors
and prepayments
Bank accounts
C.O.I.F deposit
account		 4
5
5		 9,731
142,564
34,495		 10,303
32,534		 9,731
152,867
67,029		 16,655
77,216
66,270
186,790 42, 837 229, 627 160,141
LESS: CURRENT LIABILITIES
Creditors
and accruals
Loan
from the		 6 36,444 118 36I562 11 993
Representative
Body		 3,150 3,150 3,150
39,594 118 39,712 15,143
NET
CURRENT
ASSETS		 147,196 42, 719 189,915 144,998
NET ASSETS 320,516 649, 941 970,457 925,615
Represented
by:—
CONSOLIDATED AC~TED		 FUNDS
Unrestricted
income
funds
Restricted
income
funds		 320,516 649 941 320,516
649s 941		 291,548
634s 067
TOTAL
FUNDS		 8 320,516 649s 941 970s 457 925s 615
The financial
statements		 were approved by the Board of Trustees.

2.
TANGIBLE		 FZXED ASSETS ASSETS Chasubles,
frontals,
office
Properties
S
Rectorial Benefice:—		 Benefice
office		 ecgxipment,
fixtures
fittings		 & Total
I,
Costs:
At
1 January
2020
Additions		 635,000 44, 482 13,839 693,321
Disposals
At 31 December 2020 635,000 44, 482 13,839 693,321
Depreciation:
At 1 January
2020
Charge
for year
On disposals		 21,878
1,507		 13,112
182		 34,990
1,689
At 31 December 2020 23,385 13,294 36,679
Net
Book Value:
At 31 December 2020 635,000 21,097 545 656,642
At. 31 December 2019 635,000 22, 604 727 658,331
Churches:-
Net
Book Value:
At 31 December 2020 15,782 18,778 34,560
At 31 December 2019 18,391 20,572 38,963
Consolidated:-
Net
Book Value.
At 31 December 2020 650,782 21,097 19,323 691,202
At 31 December 2019 653,391 22, 604 21,299 697,294


properes

the creation
of a revaluation		 was
nc
reser		 ease
by f
ve.		 99,550
o
INVESTMENTS 2020 2019
Valuation
at 1 January
CIF income
received
awaiting
reinvestment
Surplus
on revaluation		 83,323
1,451
4,566		 72,083
1,845
9,395
Valuation
at 31 December		 89,340 83,323
Represented
by:—
Shares
in
Common
Investment
Cash awaiting
investment		 Fund 79,764
9,576		 75,198
8,125
89,340 83,323
CREDITORS AND ACCRUALS 2020 2019
f
Creditors
Accruals		 32,197
4,365		 6,466
5,527
36,562 11,993

THE RECTORIAL
BENEF1CE OF WHITCHURCH
CARDIFF
NOTES
TO THE
CONSOLIDATED
FINANCIAL
STATEMENTS
(continued)
YEAR ENDED 31 DECEMBER 2020
CREDITORS
AND
ACCRUALS
(continued)		 THE RECTORIAL
BENEF1CE OF WHITCHURCH
CARDIFF
NOTES
TO THE
CONSOLIDATED
FINANCIAL
STATEMENTS
(continued)
YEAR ENDED 31 DECEMBER 2020
CREDITORS
AND
ACCRUALS
(continued)		 THE RECTORIAL
BENEF1CE OF WHITCHURCH
CARDIFF
NOTES
TO THE
CONSOLIDATED
FINANCIAL
STATEMENTS
(continued)
YEAR ENDED 31 DECEMBER 2020
CREDITORS
AND
ACCRUALS
(continued)		 THE RECTORIAL
BENEF1CE OF WHITCHURCH
CARDIFF
NOTES
TO THE
CONSOLIDATED
FINANCIAL
STATEMENTS
(continued)
YEAR ENDED 31 DECEMBER 2020
CREDITORS
AND
ACCRUALS
(continued)		 THE RECTORIAL
BENEF1CE OF WHITCHURCH
CARDIFF
NOTES
TO THE
CONSOLIDATED
FINANCIAL
STATEMENTS
(continued)
YEAR ENDED 31 DECEMBER 2020
CREDITORS
AND
ACCRUALS
(continued)		 THE RECTORIAL
BENEF1CE OF WHITCHURCH
CARDIFF
NOTES
TO THE
CONSOLIDATED
FINANCIAL
STATEMENTS
(continued)
YEAR ENDED 31 DECEMBER 2020
CREDITORS
AND
ACCRUALS
(continued)
On
22
December
2017
the
Benefice
entered
into
a
lease
rental
agreement
in
respect
of
a
digital
media
photocopier
at
a quarterly
rental
of
I,281.54,
including
value
added
tax,
for
a hire
period
of
5 years.
This is
being
treated
as
a lease
hire
agreement
and
the
rental
will
be written
off in the resources
expended
as
and
when
the instalments
fall
due.
ANALYS1S
OF NET ASSETS BETWEEN
FUNDS
Net
Tangible
fixed assets		 current
assets		 Total
and investments
Restricted
funds
Unrestricted
funds		 607,222
173,320		 42,719
147,196		 649,941
320,516
780,542 189,915 970,457
Unrealised
gains
(losses)
included
above
Freehold
property
Investments		 499,550
33 721		 499,550
33 721
Total unrealised
gains
at 31 December
2020		 533/271 533.271
8.
CONSOLIDATED
ACCUMULATED
FUNDS
2020 2019
Rectorial
Benefice of Whitchurch
St Mary's
Church
St. Thomas'
Church
All Saints'
Church
All Saints'
Church
Llandaff
North		 870,156
131135
65,104
14,408
7,654		 820,149
(10,372)
80,658
29,211
5,969
970,457 925,615
Current
Year
Balance
01.01.20		 Incoming
Resources
resources
expended
and revel.
T/fers		 Balance
31.12.20
Unrestricted
funds:—
General
fund
291,548		 249,450
(220,		 482) 320,516
291,548 249, 450
(220,		 482) 320,516
22

CONSOLIDAT ED
ACCUMUZ		 ED
ACCUMUZ		 ATED
FUNDS		 (continued)
Balance
01.01.20		 Incoming
resources
and reval.		 Resources
expended		 T/fere Balance
31.12.20
Restricted
funds:
Benefice:
Freehold
prop.		 491,675 491,675
Benefice Office 22, 507 (1,507) 21,000
Disposal
of
freehold
prop.		 22, 403 22, 403
Investments 82,261 5,951 88,212
Rental
income		 411 10,800 (1,198) 10,013
St Thomas':
Church
hall
and
refurbishment 3,115 (1,344) 1.771
Donation
for
furniture
and
equipment 250 (207)
St Mary' s:
Church
hall
refurbishment 4,403 (1,101) 3,302
Churchyard
maintenance		 1,202 (750) 452
Investments 1,078 86 1,164
All Saints':
Church
build.		 900 (31) 869
Clearwater
proj.		 2,101 228 (720) 1,609
Men's
Fellowship		 524 (524)
All Saints
LN:
Wall repairs 4, 671 4, 671
All churches':
Bequests,
special
collections
and charities 2,439 1,656 (1,338) 2I757
634,067 24, 594 (8,720) 649,941
Total
funds		 925,615 274, 044 (229,202) 970,457

YEAR ENDED 31 DECEMBER 2020 YEAR ENDED 31 DECEMBER 2020 YEAR ENDED 31 DECEMBER 2020
8.
CONSOLIDATED
ACCUMULATED		 FUNDS (continued)
Previous
Year		 Balance
01.01.19		 Incoming
resources		 Resources
expended
and revel.		 T/fera Balance
31.12.19
Unrestricted
funds:-
General
fund		 326,140 214, 190 (248,203) (579) 291,548
326,140 214, 190 (248,203) (579) 291,548
Restricted
funds:—
Benefice:
Freehold
prop.		 491,675 491,675
Benefice Office 24,014 (1,507) 22, 507
Disposal
of
freehold
prop.		 22, 403 22, 403
Investments 71,154 11,107 82,261
Rental
income		 16,200 (15,789) 411
St Thomas':
Church
hall
refurbishment 4,459 (1,344) 3.115
Donation
for
furniture
and
equipment 496 (246) 250
St Mary' s:
Churchyard
hall
refurbishment		 3 771 1, 800 (1,168) 4,403
Churchyard
maintenance 2, 563 (2,563)
Investments 929 149 1,078
Balance
c/fwd		 618,901 31,819 (22,617) 628,103

CONSOLIDATED CONSOLIDATED CONSOLIDATED ACCUMULATED ACCUMULATED FUNDS (continued)
Balance
01.01.19		 Incoming
resources		 Resources
expended
and reval.		 T/fers Balance
31.12.19
Restricted
Funds
(cont.		 ):—
Balance
b/fwd		 618,901 31, 819 (22, 617) — 628,103
All Saints':
Church
build.		 163 199 (41) 579 900
Clearwater
project 1,618 483 2,101
Men' s
Fellowship 524 524
All Saints' LN:
Wall repairs 9, 601 (9,601)
All churches':
Bequests,
special
collections
and charities 855 5, 849 (4,265) 2,439
622, 061 47, 951 (36,524) 579 634,067
Total
funds		 948,201 262, 141 (284,727) 925, 615

YEAR ENDED 31DE~ 2020
9. BENEFICE ACCUMULATED FUND
2020 2019
General
reserves:
Balance
b/fwd
Surplus(deficit)
for		 the year 291,577
45,506		 307,121
(15,544)
Balance
c/fwd		 337, 083 291, 577
Revaluation
reserve:
Balance
b/fwd
Revaluation
during
year		 528,
4,		 572
501		 519,310
9,262
Balance
c/fwd		 533, 073 528, 572
Combined
reserves		 870, 156 820, 149
10. CAPITAL
COMMITMENTS
There
were
no
capital
(2019 — nil) .		 commitments at 31 December 2020
11. CONTINGENT
LIABILITIES