## **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** **----- Start of picture text -----**
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** 1 2 3 ## **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. 4 5 3 **7 to 12** 6 **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**| |---|---|---|---|---|---| 7 ## **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| |---|---|---|---|---|---| 8 ## **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 . 9 **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**| |---|---| 10 ## **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** 11 ## **THE MINISTRY AREA OF LLANDUDNO** ## **THE CHURCH IN WALES** ## **NOTES TO THE ACCOUNTS** ## **YEAR ENDED 31 DECEMBER 2023** ## **8. TRANSFERS BETWEEN FUNDS** **----- Start of picture text -----**
Unrestricted Restricted Endowment
Funds Funds Funds
£ £ £
Transfer between funds ( 20,604) 21,790 (1,186)
( 20,604) 21,790 (1,186)
**----- End of picture text -----**
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. 12