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


**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: 

- providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers; 

- promoting Christian values, and service by members of the Churches in the Ministry Area of Llandudno to their communities, to the benefit of individuals and society as a whole. 

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


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: 

- examine the accounts under section 145 of the Charities Act; 

- to follow the procedures laid down in the General Directions given by the Charity Commissioner under section 145(5)(b) of the Charities Act; and 

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

## **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: 

- the accounting records were not kept in accordance with section 130 of the Charities Act; or 

- the accounts did not accord with the accounting records; or 

- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. 

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



7 



## **THE MINISTRY AREA OF LLANDUDNO** 

## **THE CHURCH IN WALES** 

## **BALANCE SHEET** 

**YEAR ENDED 31 DECEMBER 2021** 

|**Notes**<br>FIXED ASSETS<br>Tangible<br>6<br>Investment in subsidiary<br>Investments<br>7<br>CURRENT ASSETS<br>Prepayments<br>Stock<br>Debtors<br>Amount owing by Trinity CP<br>Cash at bank and in hand<br>CURRENT LIABILITIES<br>Creditors and accruals<br>NET CURRENT ASSETS<br>NET ASSETS<br>TOTAL FUNDS|**Unrestricted**<br>**funds**<br>**£**<br>143,270<br>100<br>463,439<br>606,809<br>3,708<br>-<br>5,033<br>2,724<br>7,088<br>18,553<br>(12,713)<br>(12,713)<br>5,840<br>612,649<br>612,649|**Restricted**<br>**funds**<br>**£**<br>-<br>-<br>422,553<br>422,553<br>-<br>4,938<br>337<br>-<br>135,292<br>140,567<br>(1,147)<br>(1,147)<br>139,420<br>561,973<br>561,973|**Endowment**<br>**funds**<br>**£**<br>-<br>-<br>119,374<br>119,374<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>119,374<br>119,374|**2021**<br>**£**<br>143,270<br>100<br>1,005,366<br>1,148,736<br>3,708<br>4,938<br>5,370<br>2,724<br>142,380<br>159,120<br>(13,860)<br>(13,860)<br>145,260<br>1,293,996<br>1,293,996|**2020**<br>**£**<br>168,552<br>100<br>979,152<br>1,147,804<br>3,630<br>4,441<br>1,580<br>21,274<br>117,662<br>148,587<br>(5,366)<br>(5,366)<br>143,221<br>1,291,025<br>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<br>Craft Fair<br>Victorian Extrvaganza<br>Sundry income<br>Mustard Seed<br>Use of church grounds<br>Use of Church<br>Hall Hire<br>Coffe Mornings<br>Magazine Sales<br>Magazine advertising<br>Hall Restoration Fund<br>Friends of Tudno Sales<br>St Tudno Fair<br>150 LOTTERY<br>Holy Trinity Restoration Fund<br>**3. INVESTMENT INCOME**<br>Directly held Shares<br>Investment Income<br>Investment Income St Tudno<br>Dividends - CIFS<br>Investment Income Graveyard Account<br>Bank Interest Receivable<br>**4. GENERAL PARISH EXPENSES**<br>General Parish Expenses<br>Printing & Stationery<br>Rent Paid<br>Telephone<br>Trips & Socials<br>Books and Publications<br>Postage<br>Professional Fees<br>Independent Examiner's fees<br>Belfry Misc<br>Advertising<br>Flower fund purchases<br>Professional Development & training costs|Unrestricted<br>Restricted<br>Endowment<br>Total 2021<br>Total 2020<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>-<br>1,019<br>-<br>1,019<br>-<br>-<br>1,870<br>-<br>1,870<br>-<br>1,292<br>-<br>-<br>1,292<br>-<br>117<br>-<br>-<br>117<br>-<br>-<br>715<br>-<br>715<br> 688<br>-<br>-<br>-<br>-<br>(875)<br>-<br>-<br>-<br>-<br>(400)<br>2,130<br>-<br>-<br>2,130<br>2,105<br>-<br>-<br>-<br>-<br>995<br>-<br>-<br>-<br>-<br>98<br>-<br>-<br>-<br>-<br>(446)<br>-<br>-<br>-<br>-<br>1,955<br>-<br>-<br>-<br>-<br>255<br>-<br>-<br>-<br>-<br>-<br>-<br>1,928<br>-<br>1,928<br>1,913<br>-<br>-<br>-<br>-<br>**3,539**<br>**5,532**<br>**-**<br>**9,071**<br>   **6,288**<br>Unrestricted<br>Restricted<br>Endowment<br>Total 2021<br>Total 2020<br>**£**<br>**£**<br>£<br>**£**<br>**£**<br>-<br>-<br>7,396<br>-<br>-<br>7,396<br>6,368<br>-<br>6,994<br>-<br>6,994<br>6,348<br>-<br>-<br>2,034<br>2,034<br>1,992<br>-<br>-<br>-<br>-<br>146<br>-<br>-<br>-<br>-<br>660<br>**7,396**<br>**6,994**<br>**2,034**<br>**16,424**<br>**15,514**<br>Unrestricted<br>Restricted<br>Endowment<br>Total 2021<br>Total 2020<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,229<br>-<br>-<br>1,229<br>1,865<br>1,325<br>-<br>-<br>1,325<br>1,658<br>10<br>-<br>-<br>10<br>10<br>117<br>-<br>-<br>117<br>1,133<br>-<br>-<br>-<br>-<br>151<br>53<br>-<br>-<br>53<br>96<br>-<br>-<br>-<br>-<br>22<br>-<br>-<br>-<br>-<br>6,830<br>1,194<br>-<br>-<br>1,194<br>2,688<br>-<br>-<br>-<br>-<br>84<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>119<br>10<br>-<br>-<br>10<br>-<br>**3,938**<br>**-**<br>**-**<br>**3,938**<br>**14,656**|
|---|---|



## **5. COST OF MONEY RAISING** 

|Stock<br>Mustard Seed purchases<br>Mustard Seed donations<br>St Tudno Cards etc<br>Licenses etc<br>Coffee Morning expenses<br>Friends of Tudno Expenses<br>Kitchen Supplies<br>150 Club Prize Money<br>Advertising|Unrestricted<br>Restricted<br>Endowment<br>Total 2021<br>Total 2020<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>1,204<br>-<br>-<br>-<br>-<br>45<br>-<br>-<br>-<br>-<br>168<br>-<br>-<br>-<br>-<br>539<br>-<br>-<br>-<br>-<br>-<br>-<br>297<br>-<br>297<br>48<br>-<br>-<br>-<br>-<br>271<br>-<br>-<br>-<br>-<br>1,410<br>-<br>-<br>-<br>-<br>-<br>**-**<br>**297**<br>**-**<br>**297**<br>**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<br>At 1 January 2021<br>Additions<br>Disposals<br>At 31 December 2021<br>DEPRECIATION<br>At 1 January 2021<br>Charge for year<br>Eliminated on disposals<br>At 31 December 2021<br>Net book value at 31 December 2021<br>Net book value at 31 December 2020<br>**ENTS**<br>Market value at 1 January 2021<br>Investments Sold - Proceeds<br>Gain/(Loss) on Sale of Investments<br>Purchases at cost<br>Gain/(Loss) on investments - unrealised<br>Market value at 31 December 2021<br>Investments at market value comprise:<br>UK equities<br>Global equities<br>Historical cost at 31 December 2021<br>Investment comprising over 5% of the value of the portfolio are:-<br>Common Investment Fund shares<br>Epworth Corporate Bond<br>Epworth Sterling Soverign Bond<br>Epworth UK Equity Fund<br>**St Tudno Legacy Fund**<br>Epworth Corporate Bond<br>Epworth UK Equity Fund<br>Epworth Global Units|Fixtures, fittings &<br>Equipment<br>**£**<br>390,206<br>-<br>-<br>390,206<br>221,654<br>25,282<br>-<br>246,936<br>143,270<br>168,552<br>**£**<br>979,152<br>-<br>979,152<br>-<br>979,152<br>-<br>979,152<br>26,214<br>1,005,366<br>925,121<br>80,245<br>1,005,366<br>733,700<br>Market<br>value at<br>31.12.2021<br>**£**<br>**186,698**<br>**263,223**<br>**56,426**<br>**125,337**<br>**91,581**<br>**103,016**<br>**63,645**|
|---|---|



## **7. INVESTMENTS** 

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## **THE MINISTRY AREA OF LLANDUDNO** 

## **THE CHURCH IN WALES** 

## **NOTES TO THE ACCOUNTS** 

## **YEAR ENDED 31 DECEMBER 2021** 

## **8. TRANSFERS BETWEEN FUNDS** 


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Unrestricted  Restricted  Endowment<br>Funds Funds Funds<br>£ £ £<br>Transfer between funds - - -<br>- - -<br>**----- End of picture text -----**<br>


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

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