2021-12-31-accounts

THE RECTORIAL BENEFICE OF WHITCHURCH, CARDIFF

CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021

ROBERT HUGH LIMITED
CHARTERED ACCOUNTANTS
CARDIFF

THE RECTORIAL BENEFICE OF WHITCHURCH, CARDIFF CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

Contents	Page
Report and Statement of the Trustees’
Responsibilities	1 - 12
Independent Examiner’s Report	13
Consolidated Statement of Financial
Activities	14 – 16
Consolidated Balance Sheet	17
Notes to the Consolidated Financial
Statements	18 - 26

THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES

YEAR ENDED 31 DECEMBER 2021

The members of the Benefice Council, who are also trustees of the
charity, present their report with the financial statements of the
charity for the year ended 31 December 2021.  The financial statements
have been prepared in accordance with the accounting policies set out in
note 1 to the accounts and comply with the charity’s trust deed, the
Charities Act 2011, Accounting and Reporting by Charities: Statement of
Recommended Practice (SORP) and the Church in Wales Accounting
Regulations.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Number
1130040

Registered Charity Address

The Rectory
6 Penlline Road
Whitchurch
Cardiff  CF14 2AD

Trustees and members of the Benefice Council

The trustees, who are also members of the Benefice Council, during the
year, were as follows.

Clergy

The Rev’d John Davis Team Rector
The Rev’d Peter Mortimer  Team Vicar
The Rev’d Andrew Highway  NSM Vicar
The Rev’d Nicholas Gill  Assistant Curate (resigned May 2021)
The Rev’d Benedict Yates  Assistant Curate (appointed July 2021)
Geoffrey Foot  Lay Reader

Lay Chair

Andrew Edgar

Secretary

Jane Gill

Church Warden appointed by incumbent
Alun Jones Benefice Rector's Warden, also People’s
Sub Warden, St Mary’s

Benefice Church Warden elected

David Gill Benefice People’s Warden, also People’s Sub Warden
St. Thomas’ (resigned April 2021)
Kath Lawley Benefice People’s Warden (appointed April 2021)

Appointed Church Sub-Wardens (until April 2021)

Tracey England  All Saints’ Llandaff North
Tim Lawley All Saints’ Rhiwbina
Cathryn Barr St. Thomas’
Marilyn Duggan  St. Mary’s

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1 -

BENEFICE ADMINISTRATIVE ACCOUNTS

THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES (continued)

YEAR ENDED 31 DECEMBER 2021

Elected Sub-Wardens and other members elected until April 2021
Heather Jones  People's Sub Warden, St. Mary’s
Annette Jones  People's Sub Warden, All Saints’ Rhiwbina
David Smith People's Sub Warden, All Saints’ Llandaff North
Marilyn Davidson All Saints’ Llandaff North
Janet Jones All Saints’ Llandaff North
Jayne Lewis All Saints’ Llandaff North
Julie Rees All Saints’ Rhiwbina
Jane Stansfield All Saints’ Rhiwbina
Jill Evans St. Mary’s
John Hall  St. Mary’s
Eddie Boyle St. Thomas
Rhona Edwards  St. Thomas
Elaine Hickman  St. Thomas
Elected Church Representatives from April 2021
Jayne Lewis All Saints’ Llandaff North
John Evans All Saints, Rhiwbina
Heather Jones  St Mary’s
Eddie Boyle St Thomas’

Safeguarding Officer

Cathryn Barr

Lay Pastoral Visitors’ Leader
Kath Lawley

Benefice Treasurer

John Hall

Seconded Members

Pam Perry  Treasurer, St Thomas’Church
Simon Magee Treasurer, All Saints’ Church, Llandaff North
Alun Jones Treasurer, St Mary’s Church
Terry Elliott  Treasurer, All Saints Church, Rhiwbina

Independent Examiner

Robert Hugh, BSc, FCA
15 Dan y Bryn Avenue
Radyr
Cardiff  CF15 8DD

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document and Organisational Structure

The Church in Wales is a Province within the Anglican Communion and
seeks to advance the Christian religion through world-wide mission.

The Rectorial Benefice of Whitchurch is part of the Diocese of
Llandaff and includes four churches:  St Mary’s in Whitchurch, St
Thomas’s in Birchgrove, All Saints’ in Rhiwbina, and All Saints’ in
Llandaff North.

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2 –

THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

Governing Document and Organisational Structure (continued)

The Parochial Church Council (PCC) is the body containing the trustees
of the Benefice. With the exception of the Clergy, the PCC members
serve for 1 year, from the Annual Vestry AGM which is held before the
end of April each year.

Induction and Training of New Trustees

There is no formal induction training, trustees are already members of
the church and so are aware of the goals and aims of the church.  Their
roles and responsibilities are communicated verbally and through the use
of leaflets from the Charity Commission.

OBJECTIVES AND ACTIVITIES

Objectives and Aims

The objectives and aims of the charity are the promotion of the whole
mission of the Church, pastoral, evangelistic, social and ecumenical
in the Benefice.

It is the responsibility of the PCC and the Incumbent to work together
and co-operate in all matters of concern and importance to the
Benefice for the promotion of the objectives and aims.

During 2021 the Benefice engaged in a transition to a Ministry Area,
which meant restructuring the PCC into a Ministry Area Council, with a
slightly different membership.  Each Church treasurer was provided
with new software and training, in common with all the Ministry Areas
in the Llandaff Diocese.

As required by the Charities Act 2011, the PCC has given due regard to
guidance published by the Charity Commission in respect of the
operation of the public benefit requirement.  The activities
undertaken to fulfil the PCC’s purposes for the public benefit are
described and detailed hereunder.

Charitable Activities and Main Achievements Main Activities

The Benefice

The main activities of the Benefice during the year have been to
promote the mission of the Anglican Communion and spread the Gospel to
the people of Whitchurch, Rhiwbina, Birchgrove and Llandaff North. The
Benefice also provides pastoral care, including visiting the sick and
local schools, and carries out baptisms, weddings and funerals.

During 2021 some of the restrictions imposed due to the Covid-19
pandemic were eased, and church services resumed in a controlled
manner, as did the halls.

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THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

Charitable Activities and Main Achievements Main Activities (continued)

The Benefice (continued)

Each church followed the strict guidelines set by the Welsh Government
and the Church in Wales, meaning that seating was arranged to enforce
social distancing, a one-way system was enforced, and antiseptic hand
gel was provided.  Attendees had to wear face masks, and the communion
was given in one kind only (bread wafers).  The doors were open to
provide ventilation and no singing was allowed.

Some services were broadcast over the internet and a small team created
and distributed a monthly newsletter which was warmly welcomed.

The Lay Pastoral Visiting team were not allowed to conduct home visits,
so maintained contact via the telephone, offering prayers and a chance
to talk.  This was reportedly very well received.

Each church hall user had to provide evidence of a risk assessment and
have their proposals authorised by the Ministry Area Council.  Hall
based activity slowly picked up during the year.

Charitable activity continued – income raised for many local, national
and international charities, including Christian Aid, and refugee
projects.  Food and household items were collected weekly to support
food banks, homeless and disadvantaged people.

Committee meetings and the annual vestry meetings were held by video
conference with some people phoning in.

At the Annual General Meetings of the Benefice and the individual
churches, a booklet is prepared with reports from all the various
organisations giving an outline of their activities throughout the
year.

All Saints

2021 has proved to be as disastrous a year as 2020 for both the church
and society in general. The church and hall remained closed for large
periods of time.  Even as restrictions began to ease our services were
restricted to congregations of a maximum of 20 worshippers per service.
Music and choirs were equally affected and it is only recently that
severe restrictions have begun to be eased.

Similarly, the use of our hall has only just been restarted with strict
regulation over what groups must observe.

These closures continued to have a dramatic effect on use and income.
We began the year with considerable arrears on our obligations to the
Diocese via the Parish Share and we have been unable to make any inroads
into this debt.  Although we have been able to meet our current
liability to the Diocese via the Parish Share, it is unlikely that we
will be able to make any inroads into the arrears.

Hopefully, the picture looks set to improve as the new year progresses.

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THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

Charitable Activities and Main Achievements Main Activities(continued)

St Mary’s

This time last year the words of the moment were pivot, pandemic and
unprecedented. This report spoke of the shadow of COVID19 hanging
across the church and the country. ‘Plus ça change, plus c'est la
même’ chose as we might say.

What has changed is that we certainly understand the meanings of those
words now and Father John can add crisis management to his ever
growing portfolio of transferable skills. If you need someone to write
a risk assessment report he’s your man. Not only that, but he’s
navigated us through the (at times choppy) waters that are the
transition from Benefice to Ministry Area. We move to learning all
about what that means and embracing fully what lies ahead, as so much
of the groundwork has been done during this last year.

The year saw so much ‘stop start’ and learning new things – mask
protocols, how to log in to watch streamed services and even which
door to use to enter or leave church. It was all too much for the
organ which unfortunately had to be put on furlough, although without
the compensatory government support package that many enjoyed. Much
time was spent searching for grants to augment the finances, but to no
avail.

This report is being written in the run up to Easter and the analogies
with the year just gone are a sermon writer’s joy. From the trial and
the darkness of so much of 2021, hope sprang eternal and what emerged
was truly the year of generosity. So many people made random donations
to the church to help with the finances and volunteers stepped forward
from all kinds of new sources to do so much, most visibly in the
churchyard, tending the grass, but just as much behind the scenes as
well. People’s generous contributions helped fund the new benches in
the churchyard and it’s a genuine pleasure to walk through and see
these being used by people of all ages, enjoying the environment the
church has to offer.

Staying with the finances (these are the accounts after all) we are
indebted to the generosity of the diocese, which was able to support
us with significant rebates on our parish share. As you will see from
the figures below, this was financially very important to us and meant
that we were ableto pay our contribution in full, something we
couldn’t manage during 2020. Money will remain a dominant theme for
the coming 12 months as new challenges emerge in the form of utility
bills and the general cost of living squeeze, which hits not only the
church but the pockets of parishioners upon whose continued generosity
we so depend.

Amidst it all there was one other notable change when we said a fond
farewell to Father Nick who left for pastures new with our grateful
thanks for his time with us. As a result we said a warm ‘croeso’ to
Father Benedict. Althoughhe’s been with us several months already,
the restrictions have rather curtailed many of us meeting him
properly. Some of the joys of 2022 will begetting to know himbetter
and supporting him through his ordination and ministry with us as
curate.  A continued triumph for hope and generosity.

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THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

Charitable Activities and Main Achievements Main Activities(continued)

St Thomas’

2021 started as 2020 finished with our Church doors open for services
but with a limited congregation, the Church Hall still closed and the
Hall Manager furloughed due to Covid 19. But the determination and
positivity that saw us through 2020 continued to thrive once
restrictions were lifted.

Despite the challenges of the pandemic, St Thomas continues to move
forwards. This is largely due to a strong team ethos amongst the
congregation who are united in their commitment to the Church’s
Christian mission, and a warm welcome is extended to all who enter its
doors. Whilst awaiting the appointment of a new priest the
congregation have supported visiting clergy at weekly services. The
church has also been opened for private prayer on Tuesday mornings.

With the easing of lockdown restrictions, the Reception class of
Birchgrove visited St Thomas to compliment the school curriculum and
obtain an insight into Christian worship and traditions.

While the hall was closed the refurbishment of the kitchen commenced
and was finally completed in May just in time for the hall to reopen
as Covid 19 restrictions were lifted. Three phase wiring was also
installed to support the additional power requirements. The kitchen
was officially opened by The Deputy Lord Mayor of Cardiff.

The hall has been in great demand and is used by all ages from tots
practicing football skills to older adults being cared for by The
North Cardiff Dementia Group.

Health and Well-being classes take place throughout the week with the
active, Line Dancing, Zumba, Supa Strickers, Team Active and Fitness
to the more sedate Yoga, Weight loss and wellbeing. Smaller groups
Both Parents Matter and Adoption UK Cymru meet monthly. Children’s
parties are very popular. Charity Coffee mornings have taken place.

Reaching into the community is at the heart of all we do. A Friends of
St Thomas group was launched on 4[th] November at a well attended
inaugural meeting. The purpose of the Friends is to bring together
members of St Thomas and the local community to organise
activities/events for the Birchgrove community; fundraiser for
charities both local and further afield. Last but not least to help
maintain the Church and Church Hall building for the benefit of the
community now and in the future.

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THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

All Saints’ Llandaff North
All Saints’ Church  Llandaff North

Over the last 2 years we have been through so many changes due to
Pandemic restrictions.  Alert levels determined the way we ensured the
safety of all who visited us.  Risk assessments were regular events to
determine what we should and shouldn’t do.

I am so glad to say that we got through it and with the help of our
parishioners we remained a place of safety for prayer and praise.

Our members of Sunday School are now able to return safely for regular
Sunday morning activities, after so long trying to keep up to date via
on line lessons – welcome back to you all.

During this time we were also able to continue our support to a number
of organisations through regular collections and donations.

The Rainbow of Hope
Ty Bronna
One Family Cardiff
The Shoebox Appeal

Special thanks to Marilyn Davidson who is our main point of contact
and so eagerly arranges the collection and distribution of donations.

We have continued to fund raise for the East Wall, which has enabled
us to repair and repaint the wall which looks splendid and is a
welcome improvement indeed.

The fund has also enabled us to carry out necessary work to the trees
in the grounds which required urgent attention.

We are currently in the process of applying to install a defibrillator
facility at the Church, a vital service for all in the local area.

The whole congregation was invited to attend regular meetings with
members of St Thomas’ Church in order to discuss our ideas as we
prepared to advertise for the position of a new vicar.  This was much
appreciated, and it is wonderful to know that within a few months we
will be welcoming our new vicar to the Ministry Area of Taff Wenallt.

We offer our thanks to the parishioners, members of the Clergy and Lay
Liturgy who have supported us over the last 2 years and now look
forward to a bright future at All Saints’  Llandaff North.

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THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

Benefice Main Achievements

Each church in the Ministry Area has its own story to tell.

The Benefice continued to use social media and video conferencing to
hold online and virtual services to reach as many people as possible
in order to continue its mission.  A newsletter was produced and
distributed, by a small team, to as many people as possible via hard
copy and email.

Since the first lockdown we have continued to provide pastoral support
and prayer for our communities.  We have continued to provide worship,
weddings, baptisms and funerals for those who live in our areas under
very challenging circumstances.

Our online services have been viewed around the world, and we
regularly engage with more than 1000 people a week via social media.
We offer free, fast broadband connections in two of our churches.

We have been collecting clothes for the homeless, providing childcare
facilities for key workers, free books and newsletters for the
isolated.

All the churches in the Benefice have generously supported the Cardiff
Foodbank and the Rainbow of Hope charities by donating household goods
and foodstuffs.

Our mission is to be a light in the darkness, offering hope, love and
practical care in Jesus’ name.

A vibrant Mother’s Union (MU) continues.

The Benefice has sought to support the community by joining with
community activities, providing a free book exchange in St Mary’s porch,
and decorating church gates and entrances with rainbow colours (to
support key workers) and Christmas decorations.

Our church hall continues to be used for a nursery for children of key
workers.

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THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

Public Benefit

The benefit to the public is a feeling of spiritual stability and
freedom within the Benefice for the benefit of all God’s people. This
is exercised through the provision of regular public worship and
pastoral work, including visiting the sick and bereaved; the teaching
of Christianity through sermons and small groups, and the taking of
Assemblies in local schools; the promotion of Christianity through
staging special services.

A particular benefit to the public was the pastoral care offered
throughout the pandemic, both spiritually (through funerals, weddings
and baptisms) and care for their wellbeing through the book library
and by upgrading outdoor churchyard facilities with several new
benches, community gardening and community involvement in
conservation.

Each church has a hall where activities take place for older people,
uniformed organisations for young people, and other groups for people
of all ages.

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THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

FINANCIAL REVIEW

State of Affairs

The results for the year are set out in the statement of financial
activities on pages 14 to 16.  The surplus for the year was £21,728
(2020: surplus £44,842).

The financial position at the end of the year is set out in the balance
sheet on page 17.  The net assets at the year end were £992,185 (2020:
£970,457).

Fixed Assets

The movement in fixed assets is shown in note 2 to the accounts on pages
20 and 21. At the year end the accounting net book value of fixed assets
held was £700,527 (2020: £691,202).

Investments

The movement in investments is shown in note 3 to the accounts on page
21.  At the year end the value of investments held was £99,248 (2020:
£89,340).

The investment is in The Church in Wales Common Investment Fund which is
a collective investment scheme that was established by The
Representative Body of the Church in Wales (The Representative Body),
under a scheme approved by the Charity Commissioners on 11 December
2008, for the investment of monies belonging to or benefiting any
charity for which the Representative Body is Trustee.

The Representative Body is the Trustee of the Common Investment Fund,
and has appointed its Investment Committee to oversee the Fund.  The
Investment Committee meets four times a year, receives quarterly reports
from the Fund Manager, and monitors the strategy and performance of the
Fund.

The Common Investment Fund is managed by the Fund Manager (Newton
Investment Management) in accordance with an Investment Management
Agreement, and is administered by the staff of the Representative Body.

The Fund is suitable for investment by parishes where long term capital
growth and a reasonable level of income and income growth are desired,
and is not suitable for money that is liable to be needed in the near
future.

Parish funds and trusts from bequests and legacies can be invested in
the Fund.

Trusts held in the Fund are distinguished between expendable and non-
expendable trusts.  In most cases income from expendable trusts is
accrued and either reinvested or paid out to the parish.  Non-expendable
trust income is usually distributed on a quarterly basis.

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THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

Investments (continued)

The Fund is considered to be a medium to long term investment vehicle
for trusts and parish funds, and has the following aims and objectives:

• To achieve a balance between sustainable levels of income and capital growth;

• To optimise total returns without undue risk;

• To operate within the constraints of the Church in Wales’ Ethical Investment Policy.

Reserves Policy

This is a summary of the Benefice Reserves Policy, and is intended to
facilitate an understanding of the policy. Background information is
found within the main policy document.

Definition

The Charity Commission defines reserves as “...that part of a
charity’s unrestricted funds that is freely available to spend on any
of the charity’s purposes”. The reserves policy should assist in the
objective and aim of the Benefice.

Purpose of Reserve

The reserve fund serves several purposes:

• To facilitate short term smoothing when monthly income falls short of expenditure.

• To facilitate paying the Parish Share by making up the shortfall when one church has insufficient funds to contribute.

• To support emergency and urgent needs that arise from time to time.

Other potential benefits of a reserve fund include:

• Funding routine maintenance.

• Reducing the annual quota for each church.

• Supporting church led initiatives and projects.

Should each church and the benefice keep separate reserves?

The balance of funds between the Benefice and the churches, and any
redistribution of reserves is for future discussion by the PCC.

Surplus of funds

If there is a surplus the PCC will be asked to determine priorities.
One option would be to reduce the quota for each church.

Monitoring and review

The finance committee will review the reserve balances every quarter.
Annually the finance committee will review the amounts held in reserve
and report to the PCC. Annually the finance committee will review the
reserves policy and make recommendations to the PCC.

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THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

REPORT AND STATEMENT OF THE TRUSTEES(continued)

YEAR ENDED 31 DECEMBER 2021

Statement of Trustees’ Responsibilities

Financial statements are required to be prepared for the Benefice for
each financial year which give a true and fair view of its state of
affairs at the balance sheet date and of the income and expenditure for
the year then ended. These financial statements are required to be
examined by independent examiners and copies made available to
parishioners.  In preparing these financial statements the trustees will
have due regard to:

- selecting suitable accounting policies and applying them
consistently

• making judgements and estimates that are reasonable and prudent

• observing applicable Accounting Standards

• preparing the financial statements on a going concern basis

The trustees (who are members of the Benefice Council) are responsible
also for keeping proper accounting records which disclose with
reasonable accuracy the financial position of the Rectorial Benefice of
Whitchurch and for safeguarding its assets.

The above report has been prepared in accordance with the Statement of
Recommended Practice – Accounting and Reporting by Charities.

Approved by and signed on behalf of the Board of Trustees.

…………………………………………………………………………….

Trustee

………………………………………………………………………………………
Date

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INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES

THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

YEAR ENDED 31 DECEMBER 2021

I report on the consolidated accounts of the Rectorial Benefice of
Whitchurch, Cardiff which are set out on pages 14 to 26 and which have
been prepared in accordance with the accounting policies set out on
pages 18 and 19.

Respective responsibilities of Trustees and Independent Examiner

The trustees (who are also members of the benefice council) are
responsible for the preparation of the accounts.  The trustees consider
that an audit is not required for this year (under section 144(2) of the
Charities Act 2011 (the 2011 Act)) and that an independent examination
is needed.

Having satisfied myself that an audit is not required, it is my
responsibility to:

• examine the accounts (under section 145 of the 2011 Act);

• to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and

• to state whether particular matters have come to my attention.

Basis of opinion

My examination was carried out in accordance with the general Directions
given by the Charity Commission.  An examination includes a review of
the accounting records kept by the charity and a comparison of the
accounts presented with those records.  It also includes consideration
of any unusual items or disclosures in the accounts, and seeking
explanations from you as trustees concerning any such matters. The
procedures undertaken do not provide all the evidence that would be
required in an audit, and consequently no opinion is given as to whether
the accounts present a true and fair view and the report is limited to
those matters set out in the statement below.

Opinio

In connection with my examination, no matter has come to my attention:

• 1) which gives me reasonable cause to believe that in any material respect the requirements:-

• to keep accounting records in accordance with section 130 of the 2011 Act; and

• to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

• have not been met; or

• 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Robert Hugh, BSc, FCA - Independent Examiner  Date:
15 Dan y Bryn Avenue, Radyr, CARDIFF  CF15 8DD

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RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES(continued)

YEAR ENDED 31 DECEMBER 2021

			2021	2020
			Combined	Combined
	Unrestricted	Restricted	total	total
	funds	funds	funds	funds
	£	£	£	£
INCOMING RESOURCES
Direct giving:-
Stewardship envelopes
and gift aid	83,252	-	83,252	74,619
Open collections	19,070	-	19,070	18,974
Donations	21,929	1,650	23,579	15,367
Mission:-
Collections for special
purposes	-	2,077	2,077	1,024
Indirect giving:-
Income tax refunds
on gift aid	22,481	-	22,481	25,070
Legacy gifts:-
Bequests and legacies	-	-	-	45,983
Grants:-
Diocesan Board of Finance	45,514	-	45,514	43,730
Job retention scheme	2,160	-	2,160	8,085
Local and Church Authorities	-	-	-	-
Money raising:-
Sales, fetes and concerts	930	-	930	5,034
Church hall income	30,574	-	30,574	15,911
Churchyard maintenance	-	840	840	1,202
Miscellaneous	131	-	131	68
Fees:-
Weddings, funerals, baptisms
and christenings	7,353	40	7,393	1,866
Investment income:-
Rents received	10,800	-	10,800	10,800
Community investment fund	-	1,499	1,499	1,472
Bank interest	33	-	33	1
C.O.I.F interest	13	-	13	196
Other incoming resources:-
Insurance claims	1,000	-	1,000	76
	-------	------	-------	-------
TOTAL INCOMING RESOURCES	245,240	6,106	251,346	269,478
	=======	======	=======	=======

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RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (continued)

YEAR ENDED 31 DECEMBER 2021
			2021 2020
			Combined Combined
Unrestricted Restricted			total total
	funds funds		funds funds
	£	£	£ £
RESOURCES USED
Maintenance of Ministry:-
Quota	145,644	-	145,644 146,229
Clergy expenses	9,333	-	9,333 3,345
Visiting clergy and readers	350	-	350 570
Secretarial salary	4,075	-	4,075 3,405
Maintenance of services:-
Altar requisites	1,126	-	1,126 1,234
Choir, music and organ	1,911	-	1,911 4,337
General Benefice expenses:-
Salaries and fees	8,432	-	8,432 10,613
Telephone and internet	1,222	-	1,222 863
Printing, postage and
stationery	1,303	-	1,303 1,670
Accountancy fees	3,400	-	3,400 3,420
Equipment leasing and repairs	1,312	-	1,312 1,126
Gifts, celebrations and
donations for clergy	60	-	60 -
Depreciation	6,187	3,906	10,093 7,746
Security	201	-	201 176
Sundries	289	-	289 561
Maintenance of churches:-
Light and heat	6,705	-	6,705 6,291
Insurance	3,239	-	3,239 3,434
Repairs, maintenance and
professional fees - churches	1,915	-	1,915 4,527
Churchyard maintenance fund	3,625	-	3,625 750
Maintenance of property
(Church houses and hall costs):-
Light, heat and water	5,173	-	5,173 6,032
Insurance	5,342	-	5,342 5,496
Repairs and maintenance –
church hall and houses	15,732	-	15,732 14,547
Mission:-
Payments to charities	-	3,914	3,914 2,532
Collections for special
purposes	2,239	-	2,239 203
Donations	99	401	500 -
Hymn books, lectionaries and
other publications	913	-	913 95
	------- -------		------- -------
TOTAL RESOURCES USED	229,827	8,221	238,048 229,202
	======= =======		======= =======

- 15 -

RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES(continued)

YEAR ENDED 31 DECEMBER 2021

				2021	2020
				Combined	Combined
		Unrestricted	Restricted	total	total
	Notes funds		funds	funds	funds
		£	£	£	£
TOTAL INCOMING RESOURCES		245,240	6,106	251,346	269,478
TOTAL RESOURCES USED		(229,827)	(8,221)	(238,048)	( 229,202)
		-------	------	-------	-------
NET INCOMING (OUTGOING)
RESOURCES MOVEMENT		15,413	(2,115)	13,298	40,276
TRANSFER BETWEEN FUNDS		8,013	(8,013)	-	-
		-------	-------	--------	--------
		23,426	(10,128)	13,298	40,276
UNREALISED GAIN(LOSS)ON
REVALUATION OF
INVESTMENTS	3 -		8,430	8,430	4,566
		-------	-------	-------	--------
		23,426	(1,698)	21,728	44,842
SURPLUS BROUGHT FORWARD	8 320,516		649,941	970,457	925,615
		-------	-------	--------	--------
SURPLUS CARRIED FORWARD	8 343,942		648,243	992,185	970,457
		=======	=======	========	========

- 16 -

RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

CONSOLIDATED BALANCE SHEET

31 DECEMBER 2021

		2021 2020
		Unrestricted Restricted Total Total
		funds funds funds funds
Notes
		£ £ £ £
FIXED ASSETS
Tangible fixed asset	2	186,551 513,976 700,527 691,202
		------- ------- ------- -------
INVESTMENTS
Quoted investments		- 88,194 88,194 79,764
Other		- 11,054 11,054 9,576
		------- ------- ------- -------
	3	- 99,248 99,248 89,340
		------- ------- ------- -------
		186,551 613,224 799,775 780,542
CURRENT ASSETS
Debtors and prepayments	4	12,510 153 12,663 9,731
Bank accounts	5	143,037 12,503 155,540 152,867
C.O.I.F deposit account	5	47,633 22,403 70,036 67,029
		------- ------- ------- -------
		203,180 35,059 238,239 229,627
		------- ------- ------- -------
LESS: CURRENT LIABILITIES
Creditors and accruals	6	42,639 40 42,679 36,562
Loan from the
Representative Body		3,150 - 3,150 3,150
		------- ------- ------- ------
		45,789 40 45,829 39,712
		------- ------- ------- ------
NET CURRENT ASSETS		157,391 35,019 192,410 189,915
		------- ------- ------- -------
NET ASSETS	7	343,942 648,243 992,185 970,457
		======= ======= ======= =======
Represented by:-
CONSOLIDATED ACCUMULATED FUNDS
Unrestricted income funds		343,942 - 343,942 320,516
Restricted income funds		- 648,243 648,243 649,941
		------- ------- ------- -------
TOTAL FUNDS	8	343,942 648,243 992,185 970,457
		======= ======= ======= =======
The financial statements were approved by the Board of Trustees.
............................		– Trustee

............................  Date

- 17 -

RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

a) Accounting convention

The accounts (financial statements) have been prepared in
accordance with Accounting and Reporting by Charities:
Statement of Recommended Practice (SORP), the provisions
of The Charities Act 2011 and the Church in Wales
Accounting Regulations.

The accounts have been prepared under the historical cost
convention with items recognised at cost or transaction
value unless otherwise stated in the relevant note(s) to
these accounts.

b) Classification of funds

Funds are classified according to the manner in
      which they are allowed to be spent.

Unrestricted funds deal with funds that can be spent
generally for furthering the religious and charitable
      work of the Rectorial Benefice.

Designated funds are funds which have been set aside for
      specific purposes but which can be returned to the
General Fund at any time if the trustees so decide.

Restricted funds are funds whose use is restricted
      according to the terms on which they were received.

Further details of each fund are described in note 8.

c) Income and Expenditure

All known income and expenditure is reflected in the
      consolidated statement of financial activities.

Incoming resources

All incoming resources are included on the Statement
of Financial Activities when the charity is legally
entitled to the income and the amount can be
quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accruals basis and
has been classified under headings that aggregate all
costs related to the category.

Allocation and apportionment of costs

Where costs cannot be directly attributed to
particular headings they have been allocated and
apportioned to activities on a basis consistent with
the use of resources.

- 18 -

RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES (continued)

d) Tangible fixed assets

Depreciation is provided on the cost of tangible fixed
      assets, apart from freehold property, at the following
      rate in order to write off the cost of each asset, less
      estimated residual value over its estimated useful life.

Church halls         - over 20 years
Benefice office        - over 20 years
Office equipment       - 25% reducing balance method
Office furniture       – 25% reducing balance method
Chasubles and frontals – 10% reducing balance method

e) Investments

Investments are stated in the balance sheet at their mid
      market value at the balance sheet date.  All movements
      in value arising from investment changes or revaluation
      are recognised in the statement of financial activities.

      Gains or losses on investments disposed of are calculated
 as the difference between the disposal proceeds and the
      carrying value of the investment.

Gains or losses on investments revalued are calculated as
      the difference between the carrying value at the
      beginning of the year and the end of the year.

- 19 -

    THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2021	YEAR ENDED 31 DECEMBER 2021
			Chasubles,
2. TANGIBLE FIXED	ASSETS		frontals,
			office
			equipment,
		Benefice	fixtures &
	Properties	office	fittings Total
	£	£	£ £
Rectorial Benefice:-
Costs:
At 1 January 2021	635,000	44,482	13,839 693,321
Additions	-	-	- -
Disposals	-	-	- -
	-------	-------	------ -------
At 31 December 2021	635,000	44,482	13,839 693,321
	-------	-------	------ -------
Depreciation:
At 1 January 2021	-	23,385	13,294 36,679
Charge for year	-	1,507	136 1,643
On disposals	-	-	- -
	-------	-------	------ -------
At 31 December 2021	-	24,892	13,430 38,322
	-------	-------	------ -------
Net Book Value:
At 31 December 2021	635,000	19,590	409 654,999
	=======	=======	====== =======
At 31 December 2020	635,000	21,097	545 656,642
	=======	=======	====== =======
Churches:-
Net Book Value:
At 31 December 2021	13,181	-	32,347 45,528
	======	=======	====== =======
At 31 December 2020	15,782	-	18,778 34,560
	======	=======	====== =======
Consolidated:-
Net Book Value:
At 31 December 2021	648,181	19,590	32,756 700,527
	=======	=======	====== =======
At 31 December 2020	650,782	21,097	19,323 691,202
	=======	=======	====== =======

 The fixed asset balances were as follows: unrestricted fund
 £186,551 (2020: £173,320) and restricted fund £513,976 (2020:
 £517,882).

The freehold properties of the Benefice were professionally valued
during the year ended 31 December 2004 and these revaluations were
reflected in the financial statements during that year.
                            - 20 -

THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(continued)

YEAR ENDED 31 DECEMBER 2021

2. TANGIBLE FIXED ASSETS (continued)

The properties currently owned were valued at £635,000 at that date.
The value of these properties was increased by £499,550 over cost
with the creation of a revaluation reserve.

3.	INVESTMENTS	2021	2020
		£	£
	Valuation at 1 January	89,340	83,323
	CIF income received awaitinng
	reinvestment	1,478	1,451
	Surplus on revaluation	8,430	4,566
		------	------
	Valuation at 31 December	99,248	89,340
		======	======
	Represented by:-
	Shares in Common Investment Fund	88,194	79,764
	Cash awaiting investment	11,054	9,576
		------	------
		99,248	89,340
		======	======

Shares in Common Investment Fund are valued at mid-market
price on 31 December. All investments related to
      restricted funds in both 2021 and 2020.

4.	DEBTORS AND PREPAYMENTS	2021 2020
		£ £
	Debtors and accrued income	10,902 7,886
	Prepayments	1,761 1,845
		------ ------
		12,663 9,731
		====== ======

Debtors and prepayments were as follows: unrestricted
      funds £12,510 (2020: £9,731) and restricted funds £153
      (2020: £nil).

5. CASH AND BANK

Cash and bank balances were as follows: unrestricted
      funds £190,670 (2020: £177,059) and restricted funds
      £34,906 (2020: £42,837).

6.	CREDITORS AND ACCRUALS	2021	2020
		£	£
	Creditors	37,500	32,197
	Accruals	5,179	4,365
		------	------
		42,679	36,562
		======	======

Creditors and accruals were as follows: unrestricted
      funds £42,639 (2020: £36,444) and restricted funds £40
      (2020: £118).

- 21 -

THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(continued)

YEAR ENDED 31 DECEMBER 2021

6. CREDITORS AND ACCRUALS (continued)

	On 22 December 2017 the Benefice	On 22 December 2017 the Benefice	entered into	a lease
	rental agreement	in respect of a digital media
	photocopier at a quarterly rental		of £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.
7.	ANALYSIS OF NET ASSETS BETWEEN FUNDS
			Net
		Tangible	current
		fixed assets	assets	Total
		and investments
		£	£	£
Restricted funds		613,224	35,019	648,243
Unrestricted funds		186,551	157,391	343,942
		-------	-------	-------
		799,775	192,410	992,185
		=======	=======	=======
		£	£	£
Unrealised gains (losses)
	included above
Freehold property		499,550	-	499,550
Investments		42,151	-	42,151
		-------	-------	-------
Total unrealised gains
	at 31 December 2021	541,701	-	541,701
		=======	=======	=======
8.	CONSOLIDATED ACCUMULATED FUNDS
			2021	2020
			£	£
Rectorial Benefice of Whitchurch			895,951	870,156
St Mary's Church			14,412	13,135
St. Thomas' Church			64,381	65,104
All Saints’ Church			4,761	14,408
All Saints’ Church Llandaff North			12,680	7,654
			-------- ---------
			992,185	970,457
			======== =========
Current Year Balance		Incoming Resources T/fers		Balance
	01.01.21	resources expended		31.12.21
		and reval.
	£	£ £	£	£
Unrestricted
funds:-
General fund 320,516		245,240 (229,827) 8,013		343,942
	-------	------- -------- -----		-------
	320,516	245,240 (229,827) 8,013		343,942
	-------	------- -------- -----		-------

- 22 -

    THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(continued)

YEAR ENDED 31 DECEMBER 2021

8. CONSOLIDATED ACCUMULATED FUNDS	8. CONSOLIDATED ACCUMULATED FUNDS	8. CONSOLIDATED ACCUMULATED FUNDS	(continued)
	Balance	Incoming	Resources	T/fers	Balance
	01.01.21	resources	expended		31.12.21
		and reval.
	£	£	£	£	£
Restricted
funds:-
Benefice:
Freehold prop.	491,675	-	-	-	491,675
Benefice Office	21,000	-	(1,507)	-	19,493
Disposal of
freehold prop.	22,403	-	-	-	22,403
Investments	88,212	9,789	-	-	98,001
Rental income	10,013	-	- (10,013)		-
St Thomas’:
Church hall and
refurbishment	1,771	-	(1,344)	-	427
St Mary’s:
Church hall
refurbishment	3,302	-	(856)	-	2,446
Churchyard
maintenance	452	840	-	-	1,292
Investments	1,164	140	-	-	1,304
All Saints’:
Church build.	869	40	(23)	-	886
Clearwater proj. 1,609		1,177	(2,492)	-	294
Organ fund	-	-	-	2,000	2,000
Hand bell
ringers	-	845	-	-	845
All Saints LN:
Wall repairs	4,671	-	-	-	4,671
All churches’:
Bequests, special
collections
and charities	2,800	1,705	(1,999)	-	2,506
	-------	-------	-------	-----	-------
	649,941	14,536	(8,221) (8,013)		648,243
	-------	-------	-------	-----	-------
Total funds 970,457		259,776 (238,048)		-	992,185
	=======	=======	========	=====	=======

- 23 -

THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(continued)

YEAR ENDED 31 DECEMBER 2021

8. CONSOLIDATED ACCUMULATED FUNDS (continued)

The curate’s house rental fund has been reclassified by
the trustees as a dedicated fund in 2021 whereas it was
previously classified as restricted fund.

Previous Year	Balance	Incoming	Resources	T/fers	Balance
	01.01.20	resources	expended		31.12.20
			and reval.
	£	£	£	£	£
Unrestricted
funds:-
General fund	291,548	249,450	(220,482)	-	320,516
	-------	-------	--------	-----	-------
	291,548	249,450	(220,482)	-	320,516
	-------	-------	--------	-----	-------
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
refurbishment	3,115	-	(1,344)	-	1,771
Donation for
furniture and
equipment	250	-	(207)	-	43
St Mary’s:
Churchyard hall
refurbishment	4,403	-	(1,101)	-	3,302
Churchyard
maintenance	-	1,202	(750)	-	452
Investments	1,078	86	-	-	1,164
	-------	------	------	-----	-------
Balance c/fwd	628,103	18,039	(6,107)	-	640,035

                                - 24 -

THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2021

8. CONSOLIDATED ACCUMULATED FUNDS (continued)

	Balance	Incoming	Resources	T/fers	Balance
	01.01.20	resources	expended		31.12.20
			and reval.
	£	£	£	£	£
Restricted
Funds (cont.):-
Balance b/fwd	628,103	18,039	(6,107)	-	640,035
All Saints’:
Church build.	900	-	(31)	-	869
Clearwater
project	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)	-	2,757
	-------	-------	-------	-----	-------
	634,067	24,594	(8,720)	-	649,941
	-------	-------	-------	-----	-------
Total funds 925,615		274,044	(229,202)	-	970,457
	=======	=======	========	=====	=======

                            - 25 -

THE RECTORIAL BENEFICE OF WHITCHURCH,CARDIFF

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 DECEMBER 2021

9.	BENEFICE ACCUMULATED FUND
		2021	2020
		£	£
	General reserves:
	Balance b/fwd	337,083	291,577
	Surplus(deficit) for the year	17,484	45,506
		-------	-------
	Balance c/fwd	354,567	337,083
		-------	-------
	Revaluation reserve:
	Balance b/fwd	533,073	528,572
	Revaluation during year	8,311	4,501
		-------	-------
	Balance c/fwd	541,384	533,073
		-------	-------
	Combined reserves	895,951	870,156
		=======	=======
10.	CAPITAL COMMITMENTS
	There were no capital commitments	at 31	December 2021
	(2020 - nil).
11.	CONTINGENT LIABILITIES
	There were no contingent liabilities at 31		December 2021
	(2020 - nil).

                            - 26 -