OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Llandudno Ministry Area

(The Parish of Llandudno) Ardal Weinidogaeth Llandudno (Plwyf Llandudno)

The Church in Wales Yr Eglwys yng Nghymru

MINISTRY AREA REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST ] DECEMBER 2021

LLANDUDNO MINISTRY AREA (PARISH OF LLANDUDNO) ARDAL WEINIDOGAETH LLANDUDNO (PLWYF LLANDUDNO)

THE CHURCH IN WALES

YR EGLWYS YNG NGHYMRU

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Page
Report of the Ministry Area Council 2 - 3
Financial Review 4 - 5
Independent Examiner’s Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9 - 12

THE MINISTRY AREA OF LLANDUDNO

MINISTRY AREA COUNCIL (FORMERLY PAROCHIAL CHURCH COUNCIL) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Administrative information -

The Ministry Area is situated in LLANDUDNO within the Archdeaconry of BANGOR which is part of the Diocese of BANGOR within THE CHURCH IN WALES

The correspondence address is The Rectory, 27 Church Walks, Llandudno, LL30 2HL The Parish constitutes a Charity, Registration Number 1131171

The dedication of the Churches in the Parish and Locations are

HOLY TRINITY CHURCH, Mostyn Street, Llandudno

And

ST TUDNO’S CHURCH, Great Orme, Llandudno

MINISTRY AREA COUNCIL (formerly PCC) members:

The MAC (PCC) members who have served from 1 January 2021 until the date this report was approved are

----- Start of picture text -----
Name If appointed or Resigned in period Office held
date appointed date resigned
Clergy Rev [d ] Andrew Sully M Phil Ministry Area Leader
Ven Mary Stallard BA Associate Vicar &
Archdeacon of Bangor
Revd Sion Rhys Evans Resigned September
2021
Ministry Area Warden Emeritus
Mr Geoffrey Howard
Church Warden appointed by Incumbent
Mr Adrian la Trobe
Church Warden elected
Miss Judith Williams
Sub-wardens elected
ST TUDNO
Miss Christine Jones
Mrs Vicky Ford
Verger Mr Terry Dewar
Elected Members
Mrs Jenny Bicknell Secretary
Mr Harry Ford Treasurer
Mrs Victoria Ford
Mrs Jennifer Fossi
Mr Rob Georgeson
Mrs Sylvia Guise
Mrs Roz Harrison
Mr John Lees
Mr Andy Leitch
Mrs Cynthia Poyser
Mrs Angela Pritchard
Mrs Suzi Stafford
----- End of picture text -----

MAC members are appointed or elected as set out in the Church in Wales Constitution. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the MAC

1

Report of the Ministry Area Council

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Church in Wales is governed by its Constitution, set up under section 13(1) of the Welsh Church Acts 1914, as amended from time to time by its Governing Body. Due to organisational changes currently underway within the Church in Wales the MAC has the same powers as a Parochial Church Council (PCC) with the main difference being the size and coverage of a MAC being much larger than a traditional PCC. The MAC is not a body corporate. Its composition, procedures and powers are regulated by the Constitution, which provides that before assuming office, every Church warden must sign a declaration that he or she will be bound by the Constitution.

The Constitution also provides that the members of the MAC shall be: The Incumbent, Vicars and Assistant Curates; two Church Wardens, one appointed by the Incumbent and one elected at the Annual Vestry Meeting (AVM); two Sub-wardens for each Church where there is more than one Church in the Parish, one appointed by the Incumbent and one elected at the AVM; up to 25 lay members elected at the AVM, 1 co-opted Secretary and Treasurer (if not already exofficio or elected); and up to 7 further co-opted members.

The elected MAC members are elected at the Annual Vestry Meeting by the members of the congregation who are on the electoral roll of the Parish. All persons over the age of 18 who attend services and are members of the congregation are encouraged to register on the electoral roll and seek election to the MAC.

OBJECTIVES AND ACTIVITIES

The Church in Wales is a Province within the Anglican Communion and seeks to advance the Christian religion through world-wide mission. The Ministry Area Council’s (MAC) objectives are to ensure that Church life and work within Ministry Area of Bro Tudno help to fulfil that mission, both locally and more widely.

The MAC is aware of the Charity Commission's guidance on public benefit in “The Advancement of Religion for the Public Benefit” and have regard to it in their administration of the Ministry Area of Bro Tudno. The MAC believes that, by fulfilling its responsibility to work together with the incumbent in the Ministry Area and co-operate in all matters of concern and importance for the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical, it provides a benefit to the public by:

The MAC is responsible, among other things, for the parochial budget and all expenditure there under, the care and maintenance of Church fabric and of the Churchyards it owns, and for any action or other matter referred to it in accordance with the Constitution, and is the normal channel of communication between parishioners and the Diocesan Bishop.

2

Llandudno Ministry Area 2021 review

The Covid epidemic continued to redefine our activities in the Ministry Area again in 2021. After a couple of weeks of lockdown in January we reopened on Ash Wednesday in February and there after continued with regular weekly worship observing social distancing regulations and wearing facemasks. We restarted a weekly midweek Eucharist at 10:00am on a Wednesday morning and this has proven to be popular and well attended, with coffee fellowship afterwards.

Weekly midday services resumed during the Summer months on the Orme at St Tudno’s church which were well attended and appreciated all the more for being in the open air. In the Autumn-early Winter night Prayer or Compline was said in the Church at dusk and this has also proven to be popular, especially with visitors to the town and cemetery.

We have not felt able to open the church during the week and this, combined with the absence of other, regular fundraising events and a depletion in car park income has meant a significant drop in our annual income. People are now able to make contactless payments at the back of the church but we need to address in future months our income sources, particularly now that people rarely carry loose change or cash.

Much time was spent this year following up the Architect’s Building Inspection and in seeking tenders to undergo major work in 2022 on the Chancel roof, tower and East window. St Tudno’s is hoping to spend a recent legacy on heating the church and carrying out fabric repairs in 2022.

We have maintained regular contact in the parish through a weekly bulletin that is sent out to members by email or else printed and distributed in paper form. There is a facebook page which also offers occasional reflections and notices and has a subscription of just shy of 200 people. The Ministry Area Council meet every second month on a Saturday morning by zoom meeting and the Executive committee in the intervening month to keep up with ongoing business.

Despite obvious restrictions to meeting more normally the parish is in good spirits and upbeat about meeting the challenges of a post-covid world. The Junior church goes from strength to strength, the new monthly Family Service is popular and a good bridge between old and new church congregations.

It is a privilege to work with so many committed and faithful Christians. May God continue to bless us in all we do in God’s name.

On behalf of the Ministry Area Council

Rev. Andrew Sully M. Phil. Date

3

FINANCIAL REVIEW 2021

This report and financial statement has been compiled to comply with the requirements of the Church in Wales and the Charity Commission as set out in the Statement of Recommended Practice – Accounting and Reporting by Charities. As in previous years, the Belfry Fund has been incorporated into the Financial Statement.

The Car Park is operated by Trinity CP (Llandudno) Ltd. A company which is wholly owned by the Ministry Area.

INCOMING RESOURCES

----- Start of picture text -----
2021 2020
£ £
Planned giving and tax refund 24,339 23,558
Loose collection 2,175 2,665
Donations 2,305 4,310
Donations from car park 60,450 34,135
Investment Income 16,424 15,514
Fund Raising and Fees 11,666 7,767
Legacy 10,000 Nil
Grants 200 1,100
TOTAL 127,559 89,049
----- End of picture text -----

The above table compares the different types of income for 2021 to 2020. Unfortunately, whilst the Church was opened at various times during 2021, income from different types of giving is similar to the 2020 levels when the Church closed for most of the year. However, improvements in the level of activities during 2021 is reflected in the higher level of income from fund raising, hall rental and fees. During 2021, the Ministry Area received £10,000 from the estate of Dilys Glynne.

RESOURCES EXPENDED

During 2021, the report commissioned by the Diocese on the condition of church buildings identified a number of significant repairs needed for Holy Trinity as well as St. Tudno’s. The Architects and Surveyors contracted by the Ministry Area Council, have produced detailed reports on the required works and are now in the process of inviting tenders. To date, professional fees totaling £33,420 are being met from the legacy and proceeds from the sale of investments which are ring fenced for this purpose.

As indicated above, the total income for the year 2021 reduces to £117,559 when the legacy of £10,000 is excluded. The total resources expended for the year becomes £122,099 when exceptional items of professional fees and debt charges are excluded. Therefore, the balance for 2021 is a small deficit of £4,540. This is a significant improvement when compared to the 2020 deficit of £48,611.

4

The 2021 Bishop’s Ministry Fund contribution for Llandudno Ministry Area is £86,068. During the year a £4,000 rebate was agreed. The net sum of £82,068 was paid in full before the end of the financial year.

2022 AND FUTURE YEARS

There are financial pressures which will need to be addressed in the near future.

If the repair work for the two churches is funded from the sale of investments, a very large proportion of the total investments will need to be sold to meet the costs which will result in a big reduction in future investment income. Furthermore, it is expected that the costs of gas and electricity will increase due to the new contracts. The Diocese has indicated that the Bishop’s Ministry Fund contribution for 2022 will be about £92,000 - an increase of approximately £6,000.

INVESTMENTS

The market value of the sums invested rose from £979,152 to £1,005,366; an increase of £26,214 despite the sale of units worth £30,000 during the year. The bulk of the investments are held in Epworth Investment Funds for Charities or in the Common Investment Fund.

RESERVE POLICY

The policy is to try to maintain unrestricted funds at a level which equates to 12 months unrestricted expenditure plus 50%.

RISK MANAGEMENT

The major strategic, business and operational risks have been examined by the Ministry Area Council and systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Harold F. Ford (Honorary Treasurer)

Date

5

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF LLANDUDNO MINISTRY AREA

I report on the accounts of the Parish for the year ended 31 December 2021 which are set out on pages 7 to 12.

Respective responsibilities of the Members of Llandudno Ministry Area and examiner

The members of the Parochial Church Council are responsible for the preparation of the accounts. The members of the Parochial Church Council consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of examiner’s statement

My examination was carried out in accordance with the General Directions given by the Charity Commissioner. An examination includes a review of the accounting records kept by the Parish 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 Members of Llandudno Ministry Area 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.

Independent examiner’s qualified statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

I have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

A P Filbee FCA Chartered Accountant Bennett Brooks & Co Limited 19 Trinity Square LLANDUDNO LL30 2RD Dated:

6

THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2021

Note
INCOMING RESOURCES
Voluntary Income
a) Planned giving
b) Loose Collections
c) i)Donations
c)ii)Donations from subsidiary
d) For Mission
e) Tax Refunds
f) Legacy Gifts
g) Grants
Generated Income
a) Activities for generating funds
2
b) Fees
Investment Income
3
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Support for Ministry
a) Bishop's Ministry Fund
b) Parochial expenses of Clerics
c) Curate's Expenses
d) other
Parish Activities
a) Maintenance of Services
b) General Parish Expenses
4
Church Property
a) Maintenance of Churches
b) Maintenance of Other property
Grants and other
Financial Support
a) Mission Parish
b) Mission; Home/World
Other resources
expended
a) Capital payments
b) Depreciation of fixed Assets
c) Cost of Money Raising
5
TOTAL RESOURCES EXPENDED
Net (resources expended)/incoming resources
before transfers
Transfers between funds
8
Net (resources expended)/incoming resources
before other recognised gains and losses
Gain/(loss) on revaluation and on disposal of
investments
NET MOVEMENT IN FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
9		 Unrestricted
funds
£
17,992
2,175
1,707
60,450
-
5,184
10,000
200
97,708
3,539
2,595
6,134
7,396
111,238
80,068
2,049
87
82,204
7,513
3,938
11,451
15,887
15,887
2,095
1,000
3,095
31,140
25,282
-
56,422
169,059
(57,821)
-
(57,821)
2,895
(54,926)
667,575
612,649		 Restricted
funds
£
1,163
-
598
-
-
-
-
-
1,761
5,532
-
5,532
6,994
14,287
2,000
-
-
-
2,000
355
-
355
4,716
4,716
60
-
60
2,280
297
2,577
9,708
4,579
-
4,579
41,908
46,487
515,486
561,973		 Endowment
funds
£
-
-
-
-
2,034
2,034
-
-
-
-
-
-
-
-
2,034
2,034
-
-
-
-
-
-
-
2,034
-
-
-
11,410
11,410
107,964
119,374		 Total funds 2021
£
19,155
2,175
2,305
60,450
-
5,184
10,000
200
99,469
9,071
2,595
11,666
16,424
127,559
82,068
2,049
87
-
84,204
7,868
3,938
11,806
22,637
-
22,637
2,155
1,000
3,155
33,420
25,282
297
58,999
180,801
(53,242)
-
(53,242)
56,213
2,971
1,291,025
1,293,996		 2020
£
15,904
2,665
4,232
34,135
78
7,654
-
1,100
65,768
6,288
1,479
7,767
15,514
89,049
88,068
960
1,033
-
90,061
1,799
14,656
16,455
20,487
5,344
25,831
571
1,057
1,628
-
29,745
3,685
33,430
167,405
(78,356)
-
(78,356)
17,857
(60,499)
1,351,524
1,291,025

7

THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

BALANCE SHEET

YEAR ENDED 31 DECEMBER 2021

Notes
FIXED ASSETS
Tangible
6
Investment in subsidiary
Investments
7
CURRENT ASSETS
Prepayments
Stock
Debtors
Amount owing by Trinity CP
Cash at bank and in hand
CURRENT LIABILITIES
Creditors and accruals
NET CURRENT ASSETS
NET ASSETS
TOTAL FUNDS		 Unrestricted
funds
£
143,270
100
463,439
606,809
3,708
-
5,033
2,724
7,088
18,553
(12,713)
(12,713)
5,840
612,649
612,649		 Restricted
funds
£
-
-
422,553
422,553
-
4,938
337
-
135,292
140,567
(1,147)
(1,147)
139,420
561,973
561,973		 Endowment
funds
£
-
-
119,374
119,374
-
-
-
-
-
-
-
-
-
119,374
119,374		 2021
£
143,270
100
1,005,366
1,148,736
3,708
4,938
5,370
2,724
142,380
159,120
(13,860)
(13,860)
145,260
1,293,996
1,293,996		 2020
£
168,552
100
979,152
1,147,804
3,630
4,441
1,580
21,274
117,662
148,587
(5,366)
(5,366)
143,221
1,291,025
1,291,025

8

THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

Accounting Convention

The accounts have been prepared under the historical cost convention, with the exception that investments are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued in March 2005 and comply with the Charities (Accounts and Reports) Regulations 2005 issued under the Charities Act 1993.

Income resources

Donations and similar income

Where donors specify that donations or legacies are for a particular restricted purpose, this income is included within restricted income when received. All other donations are deemed to be unrestricted or endowment income as appropriate.

Legacies

Legacies to the PCC (MAC) are accounted for when received

Investment income

This is recorded on a received basis.

Resources expended

Expenditure is included on an accruals basis.

Parish share

The Diocesan Quota or Parish Share is accounted for when paid

Tangible fixed assets

Assets costing more than £1,000 are capitalised. Depreciation is provided at the following rates:-

Fixtures, fittings and equipment 15% on the reducing balance basis

Fixed asset investments

These are included at market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities.

Stock

Stock is valued at the lower of cost and net realisable value.

Fund accounting

Details of the nature and purpose of each fund are set out in note 10 to the accounts.

9

THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2021

2. ACTIVITIES FOR GENERATING FUNDS

Money Raising
Craft Fair
Victorian Extrvaganza
Sundry income
Mustard Seed
Use of church grounds
Use of Church
Hall Hire
Coffe Mornings
Magazine Sales
Magazine advertising
Hall Restoration Fund
Friends of Tudno Sales
St Tudno Fair
150 LOTTERY
Holy Trinity Restoration Fund
3. INVESTMENT INCOME
Directly held Shares
Investment Income
Investment Income St Tudno
Dividends - CIFS
Investment Income Graveyard Account
Bank Interest Receivable
4. GENERAL PARISH EXPENSES
General Parish Expenses
Printing & Stationery
Rent Paid
Telephone
Trips & Socials
Books and Publications
Postage
Professional Fees
Independent Examiner's fees
Belfry Misc
Advertising
Flower fund purchases
Professional Development & training costs		 Unrestricted
Restricted
Endowment
Total 2021
Total 2020
£
£
£
£
£
-
1,019
-
1,019
-
-
1,870
-
1,870
-
1,292
-
-
1,292
-
117
-
-
117
-
-
715
-
715
688
-
-
-
-
(875)
-
-
-
-
(400)
2,130
-
-
2,130
2,105
-
-
-
-
995
-
-
-
-
98
-
-
-
-
(446)
-
-
-
-
1,955
-
-
-
-
255
-
-
-
-
-
-
1,928
-
1,928
1,913
-
-
-
-
3,539
5,532
-
9,071
6,288
Unrestricted
Restricted
Endowment
Total 2021
Total 2020
£
£
£
£
£
-
-
7,396
-
-
7,396
6,368
-
6,994
-
6,994
6,348
-
-
2,034
2,034
1,992
-
-
-
-
146
-
-
-
-
660
7,396
6,994
2,034
16,424
15,514
Unrestricted
Restricted
Endowment
Total 2021
Total 2020
£
£
£
£
£
1,229
-
-
1,229
1,865
1,325
-
-
1,325
1,658
10
-
-
10
10
117
-
-
117
1,133
-
-
-
-
151
53
-
-
53
96
-
-
-
-
22
-
-
-
-
6,830
1,194
-
-
1,194
2,688
-
-
-
-
84
-
-
-
-
-
-
-
-
-
119
10
-
-
10
-
3,938
-
-
3,938
14,656

5. COST OF MONEY RAISING

Stock
Mustard Seed purchases
Mustard Seed donations
St Tudno Cards etc
Licenses etc
Coffee Morning expenses
Friends of Tudno Expenses
Kitchen Supplies
150 Club Prize Money
Advertising		 Unrestricted
Restricted
Endowment
Total 2021
Total 2020
£
£
£
£
£
-
-
-
-
-
-
-
-
-
1,204
-
-
-
-
45
-
-
-
-
168
-
-
-
-
539
-
-
-
-
-
-
297
-
297
48
-
-
-
-
271
-
-
-
-
1,410
-
-
-
-
-
-
297
-
297
3,685

10

THE MINISTRY AREA OF LLANDUNO

THE CHURCH IN WALES

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2021

6. FIXED ASSETS

TANGIBLE FIXED ASSETS
At 1 January 2021
Additions
Disposals
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for year
Eliminated on disposals
At 31 December 2021
Net book value at 31 December 2021
Net book value at 31 December 2020
ENTS
Market value at 1 January 2021
Investments Sold - Proceeds
Gain/(Loss) on Sale of Investments
Purchases at cost
Gain/(Loss) on investments - unrealised
Market value at 31 December 2021
Investments at market value comprise:
UK equities
Global equities
Historical cost at 31 December 2021
Investment comprising over 5% of the value of the portfolio are:-
Common Investment Fund shares
Epworth Corporate Bond
Epworth Sterling Soverign Bond
Epworth UK Equity Fund
St Tudno Legacy Fund
Epworth Corporate Bond
Epworth UK Equity Fund
Epworth Global Units		 Fixtures, fittings &
Equipment
£
390,206
-
-
390,206
221,654
25,282
-
246,936
143,270
168,552
£
979,152
-
979,152
-
979,152
-
979,152
26,214
1,005,366
925,121
80,245
1,005,366
733,700
Market
value at
31.12.2021
£
186,698
263,223
56,426
125,337
91,581
103,016
63,645

7. INVESTMENTS

11

THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2021

8. TRANSFERS BETWEEN FUNDS

----- Start of picture text -----
Unrestricted Restricted Endowment
Funds Funds Funds
£ £ £
Transfer between funds - - -
- - -
----- End of picture text -----

9. FUNDS

(i) Unrestricted

These are funds which the Parochial Church Council is able to use free of restriction but in accordance with the objects of the Parochial Church Council.

(ii) Restricted funds

Balances on these funds are:-
Belfry Fund
Flower fund
Garden of remembrance – St George
Graveyard Account ( ST Tudno)
Sunday School
Mustard Seed
St Tudno
Friends of Tudno
St Tudno Restoration Fund
Organ Fund
Hall Restoration Fund
Toddler Group
150th Lottery Fund
Youth Instruction		 Cash at bank
or in hand
2021
£
2,899
5,556
1,868
2,293
1,891
8,602
83,546
11,408
-
721
12,144
1,531
2,734
99
135,292		 Investments
2021
£
-
-
-
16,644
-
-
405,909
-
-
-
-
-
-
-
422,553		 Stock
2021
£
-
-
-
-
-
4,626
-
312
-
-
-
-
-
-
4,938		 Debtors and
Prepayments
2021
£
-
-
-
-
-
-
82
255
-
-
-
-
-
-
337		 Creditors and
accruals
2021
£
-
-
(1,110)
-
-
-
(37)
-
-
-
-
-
-
-
(1,147)		 Total
2021
£
2,899
5,556
758
18,937
1,891
13,228
489,500
11,975
-
721
12,144
1,531
2,734
99
561,973		 Total
2020
£
2,965
5,719
1,868
17,954
1,951
11,536
448,120
11,467
958
337
10,274
1,531
806
-
515,486

Monies donated to these funds are restricted in accordance with the terms of the funds.

(iii) Endowment funds

These are funds donated to provide income to be used by the Parochial Church Council in accordance with the wishes of donors.

12