2023-12-31-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 2023

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 2023

		Page
Report of the Ministry Area Council		2-4 2 - 3
Financial Review		5-6 4 - 5
Independent Examiner's Report		7 6
Statement of Financial Activities		8 7
Balance Sheet		9 8
Notes to the Accounts		10-13 9 - 12

THE MINISTRY AREA OF LLANDUDNO

MINISTRY AREA COUNCIL (FORMERLY PAROCHIAL CHURCH COUNCIL) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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 2023 until the date this report was approved are

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Name If appointed or Resigned in period Office held
date appointed date resigned
Clergy Rev [d ] Janet Fletcher April 2023 April 2024 Ministry Area Leader
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 January 2024
Mr Rob Georgeson
Mrs Sylvia Guise
Mrs Roz Harrison
Mr John Lees
Mr Andy Leitch
Mrs Cynthia Poyser
Mrs Angela Pritchard
Mrs Suzi Stafford
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
----- 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

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FINANCIAL REVIEW 2023

This report and financial statement have 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

INCOMING RESOURCES
	2023	2022
	£	£
Planned giving and tax refund	28,225	18,926
Loose collection	5,376	10,763
Donations	11,636	12,397
Donations from car park	61,222	53,719
Investment Income	17,948	21,541
Fund Raising and Fees	10,368	11,578
Legacy	0	0
Grants	0	0
Insurance claim	0	1,120
TOTAL	134,775	130,04

The above table compares the different types of income for 2023 to 2022. Income from planned givings and donations from the car park are significantly higher than in the previous year. Unfortunately, loose collection, donations and investment income are lower than last year. Taken together, the total income in 2023 of £134,775 is only £4,731 higher than the previous year.

RESOURCES EXPENDED

As indicated in the Statement of Financial Activities, the total income for the year 2023 is £134,775. The total costs for the year is £142,034, before depreciation, which is an accounting adjustment. Therefore, the Church's Day to day running costs in 2023 are £7,259 greater than the available income. This overall deficit of £7,259 is made up of the unrestricted funds deficit of £26,607 and restricted funds surplus of £19,348.

The 2023 Bishop's Ministry Fund contribution for Llandudno Ministry Area was £93,000. This sum was paid in full before the end of the financial year.

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THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2023

Note INCOMING RESOURCES Voluntary Income Planned giving Loose Collections Donations Donations from subsidiary Tax Refunds Legacy Gifts Grants Insurance claim Generated Income Activities for generating funds 2 Fees Investment Income 3 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Support for Ministry Bishop's Ministry Fund Parochial expenses of Clerics Curate's Expenses other Parish Activities Maintenance of Services General Parish Expenses 4 Church Property Maintenance of Churches Grants and other Financial Support Mission Parish Mission; Home/World Other resources expended Capital payments Depreciation of fixed Assets Cost of Money Raising 5 TOTAL RESOURCES EXPENDED Transfers between funds 8 Gain/(loss) on revaluation and on disposal of investments NET MOVEMENT IN FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 9 Net (resources expended)/incoming resources before other recognised gains and losses Net (resources expended)/incoming resources before transfers	Unrestricted funds £ 22,773 5,376 8,028 61,222 5,324 - - - 102,723 3,891 - 3,891 1,793 108,407 93,000 - - - 93,000 7,837 7,394 15,231 26,646 26,646 - - - - 5,887 137 6,024 140,901 (32,494) (20,604) (53,098) 2,281 (50,817) 551,237 500,420	Designated & Restricted funds £ 128 - 3,608 - - - - - 3,736 6,477 - 6,477 13,484 23,697 - - - - - 252 947 1,199 2,695 2,695 - - - - 4,958 3,126 8,084 11,978 11,719 21,790 33,509 3,259 36,768 477,315 514,083	Endowment funds £ - - - - - - - - - - - 2,671 2,671 - - - - - - - - - - - - - - - - - - 2,671 (1,186) 1,485 4,468 5,953 106,848 112,801	Total funds 2023 £ 22,901 5,376 11,636 61,222 5,324 - - - 106,459 10,368 - 10,368 17,948 134,775 93,000 - - - 93,000 8,089 8,341 16,430 29,341 29,341 - - - - 10,845 3,263 14,108 152,879 (18,104) - (18,104) 10,008 (8,096) 1,135,400 1,127,304	2022 £ 15,788 10,763 12,397 53,719 3,138 - - 1,120 96,925 9,390 2,188 11,578 21,541 130,044 93,000 2,251 - - 95,251 8,194 7,373 15,567 24,024 24,024 - - - - 59,527 3,024 62,551 197,393 (67,349) - (67,349) (91,247) (158,596) 1,293,996 1,135,400

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THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

BALANCE SHEET

YEAR ENDED 31 DECEMBER 2023

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 £ 442,672 100 3,552 446,324 4,243 - 6,076 6,221 43,184 59,724 (5,628) (5,628) 54,096 500,420 500,420	Designated & Restricted funds £ 88,743 - 232,333 321,076 580 5,164 - - 187,263 193,007 - - 193,007 514,083 514,083	Endowment funds £ - - 112,801 112,801 - - - - - - - - - 112,801 112,801	2023 £ 531,415 100 348,686 880,201 4,823 5,164 6,076 6,221 230,447 252,731 (5,628) (5,628) 247,103 1,127,304 1,127,304	2022 £ 337,317 100 351,744 689,161 4,720 5,715 13,645 943 486,197 511,220 (64,981) (64,981) 446,239 1,135,400 1,135,400

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THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2023

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:-

Church building works 2% on a straight line 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.

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of trustees

Restricted funds can only be used for particular restricted purposes within the objexts of the charity .

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THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2023

2. ACTIVITIES FOR GENERATING FUNDS

Money Raising Craft Fair Victorian Extrvaganza Sundry income Mustard Seed Coffee Mornings Hall Restoration fund Hall Hire/Building Rental 105th Lottery	Unrestricted Designated & Restricted Endowment Total 2023 Total 2022 £ £ £ £ £ 1,133 5,477 - 6,610 - - - - - - - - - - - 330 - - 330 319 - - - - 1,431 - 11 - 1,870 2,428 1,000 - 3,428 3,575 - - - 2,184 3,891 6,477 - 10,368 9,390

3. INVESTMENT INCOME

Investment Income Bank Interest Receivable 4. GENERAL PARISH EXPENSES General Parish Expenses Parsonage Printing & Stationery Professional Fees Rent Paid Telephone & internet Sundry Books and Publications Independent Examiner's fees Professional Development & training costs Support of UK Charities

Unrestricted Restricted Endowment Total 2023 Total 2022 £ £ £ £ £ 85 6,250 2,671 9,006 18,224 1,708 7,234 - 8,942 3,317 1,793 13,484 2,671 17,948 21,541 Unrestricted Restricted Endowment Total 2023 Total 2022 £ £ £ £ £ 1,399 947 - 2,346 1,120 1,354 - - 1,354 - 1,422 - - 1,422 2,804 860 - - 860 - - - - 10 - - - 1,543 34 - - 34 276 10 - - 10 - 1,827 - - 1,827 1,620 - - - - 488 - - 488 - 7,394 947 - 8,341 7,373

5. COST OF MONEY RAISING

Unrestricted expenses St Tudno Mustard Seed purchases Friends of Tudno Expenses 150 Club Prize Money	Unrestricted Restricted Endowment Total 2023 Total 2022 £ £ £ £ £ 137 - - 137 - 160 - 160 - - 1,124 - 1,124 252 - - 162 - 162 1,566 - 1,680 - 1,680 1,710 137 3,126 - 3,263 3,024

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THE MINISTRY AREA OF LLANDUNO

THE CHURCH IN WALES

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2023

6. FIXED ASSETS

TANGIBLE FIXED ASSETS At 1 January 2022 Additions Disposals At 31 December 2022 DEPRECIATION At 1 January 2023 Charge for year Eliminated on disposals At 31 December 2023 Net book value at 31 December 2023 Net book value at 31 December 2022 ENTS Market value at 1 January 2023 Investments purchased/sold Gain/(Loss) on investments - unrealised Market value at 31 December 2023 Investments at market value comprise: UK equities and Common Investment Fund Shares Global equities Historical cost at 31 December 2023 Investment comprising over 5% of the value of the portfolio are:- Common Investment Fund shares Astra Zenica St Tudno Legacy Fund Epworth UK Equity Fund

Fixtures, fittings & Equipment £ 643,780 204,943 - 848,723 306,463 10,845 - 317,308 531,415 337,317 £ 351,744 31,464 (34,522) 348,686 348,686 - 348,686 216,291 Market value at 31.12.2023 £ 176,855 69,006 93,957

7. INVESTMENTS

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THE MINISTRY AREA OF LLANDUDNO

THE CHURCH IN WALES

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2023

8. TRANSFERS BETWEEN FUNDS

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Unrestricted Restricted Endowment
Funds Funds Funds
£ £ £
Transfer between funds ( 20,604) 21,790 (1,186)
( 20,604) 21,790 (1,186)
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In an effort to align balances with the new accounting system (My Fund Accounting) and correctly state fund balances, transfers have been made between funds to correctly allocate funds between restricted, unrestriced and endowment funds

A detailed breakdown of the Restricted closing fund balances can be found in note 9 below

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 remembrace - St George Graveyard - St Tudno's Sunday School Mustard Seed St Tudno's Fabric Friends' of St. Tudno's Organ Fund Hall Restration Fund Toddler Group 105th Lottery Fund St Tudno's	Cash at bank or in hand 2023 £ 2,931 5,940 806 15,141 1,962 5,165 2,004 10,502 1,163 16,442 1,885 1,542 121,780 187,263	Fixed Assets 2023 £ 88,743 88,743	Investments 2023 £ 1,458 64,053 166,822 232,333	Stock 2023 £ 4,774 390 5,164	Debtors and Prepayments 2023 £ 580 580	Total 2023 £ 2,931 5,940 806 16,599 1,962 9,939 66,057 10,892 1,163 16,442 1,885 1,542 377,925 514,083

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 Ministry Area in accordance with the wishes of donors.

10. Trustees' Remuneration and Benefits

There was no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expaenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

11. Related Party Disclsoures

No Trustee or other person related to the Trust had any personal interest in any contract or transaction entered into by the Trust during the year.

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