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2021-12-31-accounts

COWBRIDGE MINISTRY AREA

Registered Charity 1131497

ANNUAL REPORT & FINANCIAL STATEMENTS YEAR ENDED 31[ST] DECEMBER 2021

OF THE FORMER

RECTORIAL BENEFICE OF COWBRIDGE PAROCHIAL CHURCH COUNCIL

& THE PARISH OF COLWINSTON, LLANDOW AND LLYSWORNEY PAROCHIAL CHURCH COUNCIL

Part of the Church in Wales in the Diocese of Llandaff

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

NOTICE OF ANNUAL VESTRY MEETING ON SUNDAY 24th APRIL 2022 AT 11.30a.m. IN HOLY CROSS PARISH CHURCH, COWBRIDGE, (following the All Parish Service at 10.30a.m.)

The Annual Vestry Meeting of the Cowbridge Ministry Area will be held on Sunday 24th April 2022 at 11.30a.m. in the Parish Church of the Holy Cross, following the All-Parish service at 10.30a.m. All persons whose names have been accepted in the Electoral Roll may speak, vote and be nominated for election, and are urged to attend.

AGENDA

Prayer

Chairman’s welcome

Apologies for absence

Minutes : The Annual Vestry Meeting of the Rectorial Benefice of Cowbridge held 28th April ’19 (page 4) The Annual Vestry Meeting of the Parish of Colwinston, Llandow & Llysworney held 25th April ’21 (page 5)

Parochial Church Council Report and Financial Statements:

Rectorial Benefice of Cowbridge Annual Report (pages 6-9)

Rectorial Benefice of Cowbridge Financial Statements for the year ended 31st December 2021 (pages 12-19) Parish of Colwinston, Llandow & Llysworney Financial Statements for the year ended 31st December 2021 (pages 20-21)

Elections:

Appointment of Parish Warden by Incumbent

Election of Parish Warden Election of nominated members of The Ministry Area Council Election of Members of the Diocesan Conference (five in total) Election of Members of the Deanery Conference (five in total)

Confirmation of appointment of Independent Examiner

Any other business signified to the Parish Office in writing by Tuesday 19th April 2022

Nominations and details of any other business should be received by the Parish Office by Tuesday 19th April 2022. All persons nominating and nominated must be on the Electoral Roll, approved by the Ministry Area Council on 28th March 2022, and all who are nominated must have given their consent to nomination.

Following the conclusion of the Vestry meeting, there will also be a brief meeting of the new Ministry Area Council to elect or co-opt a Secretary and Treasurer, and to confirm other co-options.

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COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

The Minutes of the Annual Vestry Meeting held on Sunday 28[th] April 2019 at Holy Cross Parish Church.

The Chairman welcomed those attending from the congregations of the Benefice to its twenty sixth Annual Vestry Meeting.

Apologies were received from: Mr. J. Homfray, Mr. G. Williams, Mrs. P. Harris, Mrs S. Cox, Mr S. Lloyd, Rev’d D. Boult.

Minutes of the previous Annual Vestry meeting:

The Minutes of the meeting of 29th April 2018 were accepted on the proposition of Mr. H. Jarvie, seconded by Mr P Davies and signed by the Chairman as a true record.

Mrs M. Layton Matthews was appointed as Diocesan Conference member.

Confirmation of appointment of an Independent Examiner:

Mr D. L. Jones advised that our current Independent Examiner is A.D. Fitzgerald & Walker and there have been no problems experienced with this Company. The continuing appointment of A.D. Fitzgerald & Walker was proposed by Mr H. Jarvie and seconded by Mr P. Davies. The proposal was accepted unanimously.

Any Other Business:

Matters arising from the minutes:

There were no matters arising.

P.C.C. Annual Report & Financial Statements for the year ended 31[st] December 2018:

The acceptance of both the Annual Report and the Financial Statements for the year ended 31[st] December 2018 was proposed by Mrs C. Mangles and seconded by Mr D. Crompton. These were accepted unanimously.

The Chairman expressed thanks to Mr D.L. Jones and Mrs C. Bird for the work achieved in producing the Financial Statements and the adoption of the new reporting platform.

Elections:

Mr H. Perks was elected as Parish Warden. Mr P. Davies was appointed as Parish Warden.

The following were elected as Members of the Parochial Church Council:

Mrs C. Mangles - St Mary Church Mr D. Crompton - Flemingston Mr J Homfray - Llanfrynach Mr J.P.R. Williams - Llansannor

Mrs S. Sargent - Ystradowen

Mr G. Williams - Llangan Mr S. Lloyd - St Mary Hill

Mrs P. Harris - Penllyn

Mrs S. Cox - Llanblethian Mrs B Harding - Holy Cross Mr D. Addison - Llandough Mr J. Williams - St Hilary

The Chairman expressed thanks to Mr R. Hensby for his work as PCC member for Llandough over many years.

Mrs B. Harding, Mr J. Williams and Mrs M. Layton Matthews were appointed as Deanery Conference members.

Church Review – an updated report was issued to all on the work of the Church Review. The Chairman explained the work achieved thus far. The ongoing actions will now be taken forward by the Standing Committee.

Telling a Joyful Story – The Chairman advised that great success has been seen recently at Ystradowen with the reestablishment of a Sunday school run by 6 local mums.

Curate – The Chairman expressed congratulations to Curate Suzanne on her new appointment as Team Vicar of the Parish of Aberkenfig. He advised how proud we are as a Parish of what Suzanne has achieved and wished her the very best when she takes up her new role in early Summer.

Students - The Chairman confirmed that Mrs G. Oglesbee will continue to support the Parish with services and she will be ordained deacon next year, we are grateful for all that she has brought to the parish. The Chairman advised that in September we will be joined by Theology Student Ian Yemm. Ian has held many roles including Co-ordinating Chaplain to the University of the West of England (Bristol). He will visit the Parish in the coming months.

Retired Clergy - The Chairman thanked Reverend D. Boult, Reverend N. Williams, Reverend I. Thomas, Canon P. Coleman, Canon R. Doxsey and Reverend M. Wishart for their invaluable support in taking services across the Benefice.

Church Coordinators – A meeting of all Coordinators will be held Thursday 16[th] May at 6:30pm in Llanblethian Church. This meeting will be held by Mr P. Davies and Mr H. Perks without clergy in attendance.

The Meeting closed with prayers at 12.30 pm.

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COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

Parish of Colwinston, Llandow and Llysworney Church Council Minutes of The Easter Vestry Meeting 1100 Sunday 25[th] April 2021 in St Michael’s Colwinston

Present at St St Michael’s Church: Gareth Jones, Chairman, [GJ], Kath Jones, Treasurer [KJ], Jeremy Rawlins [JR], Kathy Kettle [KK], The Reverend Alan Kettle [AK], Nicky Massie [NM], Dilys Newman, Penny Newman [PN], Pamela Haines [PH], John Sant.

1. AK welcomed everyone and opened the meeting with prayers.

2. Apologies : Andrea Walton, Diane Bluck, Jen Denham.

3. The Minutes of the last Annual Easter Vestry Meeting held on 18[th ] October 2020 were read by GJ, approved (Pr JR and sec PH) All present were in favour that this was a true record of the last EVM. They were signed by GJ, Chairman and KK as Secretary.

4. AK presented the Annual Parish Report which had already been circulated to the PCC members. AK realised that there were some discrepancies pointed out by KK in the main report, but thanked those who had contributed to the individual reports for each church.. AK said he would review The Parish Report and recirculate it. All agreed this was a good course of action.

5. GJ noted that the church bell had been rung in all three churches during our Covid restrictions and that services had started again on a rota basis in the parish with one service on a Sunday being held since August 2020 and he thanked AK for supporting this. There was a gap of two weeks with the ‘ Firebreak’ under the Covid regulations by The Welsh Assembly in October 2020. A tree-lighting service was held in St. Michael’s, Colwinston Church Yard in early December. Food bank collections had continued throughout the year. especially at Christmas when lots of treats for children were generously given and displayed in the porch underneath the WI Christmas Tree before being taken to the main foodbank depot in Barry by KJ and GJ. Christmas Eve and Christmas Day services were held in all churches with those attending booking in beforehand and came wearing masks. All Covid precautions were adhered to during and after these services. GJ said that many people appreciated that the churches were open and holding services. GJ also noted that this would be AK’s last EVM and thanked him for his support during this difficult year and also for posting weekly messages on the Facebook websites of Colwinston, Llandow and Llysworney. Margaret Bourke was also thanked for producing and emailing out the Weekly Notes. GJ thanked AK for the report and for those who had contributed towards it. GJ commented that the three churches were each an important part of their village and the recent postings on the three village Facebook pages since Lockdown have been well received. We also let people know what is happening in our churches through personal contact, the Weekly Notes, The Colwinston and Llysworney Newsletters. GJ thanked AK and KK for their continuing care of the parish. GJ recommend that The Annual Parish Report was accepted with indicated amendments. All were in favour.

6. KJ presented the Treasurer’s Report which had been audited by John Sant. KJ had simplified the format and JS was thanked for his efforts and time for helping KJ to transfer to the alternative, simplified system. The finances are in a sound state. GJ said that this was thanks to direct giving and generous collections and donations by parishioners. The finances had been supplemented by Gift Aid rebate over two years and an electricity rebate and a generous bequest from Brian Minshull specifically for St. Michael’s, Colwinston Church and Churchyard. The finances are attached. KJ said that in the future (probably not until January 2022) the parish finances would be overseen by David Lloyd Jones who is the Treasurer for the Cowbridge Ministry Area (CMA). KJ had been in discussion with him and she would be willing to remain as Treasurer until the parish was formally part of CMA. £78,500 + will be transferred, but £35,500 + will be restricted funds for the three churches in the parish. John Sant was thanked for his work as Auditor of the Church Accounts. He agreed to say on as Auditor for the time being.

7. Appointments were made and accepted: JR as Vicar’s Parish Warden. KJ as People’s Parish Warden. NM as Sub-warden for St Tydfil’s, Llysworney. and PN & AW agreed (though AW not present) as Sub-wardens for Holy Trinity, Llandow.

8. PCC Members. The PCC roles continued en bloc until any decisions could be ratified. GJ hoped that this was acceptable in the circumstances, and all agreed. The PCC agreed to continue. PH will continue as Deanery Conference Rep and JD as Diocesan Conference Rep. After the election of officers it was recognised that the parish had effectively worked together during 2020 and that a good friendship was firmly established by parishioners and PCC members. JR emphasised the fact that although there are three churches, we are one parish working together. Although the future at this stage is unclear after AK retires in July 2021, it was hoped that the transition to the Ministry Area of Cowbridge would be done sensitively taking into account the views of those who are part of Colwinston, Llysworney and Llandow Parish. The PCC agreed to carry on with good will and GJ said that we would move forward with a wing and a prayer into 2022.

9. Pamela Haines reported that there had been one meeting of The Deanery and two very successful Messy Church events one on January 19[th] and March 15[th] just before lock down. The last Messy Church was very successful and attended by around 40 adults and children.

10. Nicky Massie read out a report from Jennifer Denham, our parish representative, on the virtual Diocesan Conference in 2020. The report is attached.

11. The EVM ended at 1150 with the Grace. A PCC Meeting TBC. (Later this was scheduled for Tuesday 11[th] May 2021 at 7pm in Holy Trinity.)

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COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

REFERENCE & ADMINISTRATIVE DATA

The Cowbridge Ministry Area was created by Diocesan Decree on the 1[st] January 2022, being formed by the merger of the Parish of Colwinston, Llandow and Llysworney into the Rectorial Benefice of Cowbridge. The Members of the former Parochial Church Council of the Rectorial Benefice of Cowbridge continue as Trustees and Members of the temporary Ministry Area Council until the 2022 Annual Vestry Meeting when a new Ministry Area Council will be constituted according to the Constitution of the Church in Wales, with representation from all churches in the new Ministry Area.

The Cowbridge Ministry Area Council (MAC) formerly the Parochial Church Council (PCC) is registered with the Charity Commission for England and Wales; registered number 1131497.

The Ministry Area is centred on the old market town of Cowbridge, in the Vale of Glamorgan Deanery, and is part of the Church in Wales Diocese of Llandaff. The fifteen Churches which make up the Ministry Area are:

Holy Cross Parish Church, Cowbridge

St. John the Baptist, Llanblethian

St. Dochdwy, Llandough

St. Hilary, St. Hilary

St. Mary, St. Mary Church

St. Michael and all Angels, Flemingston

St. Senwyr, Llansannor

St. John the Evangelist, Penllyn

St. Owain, Ystradowen

St. Brynach, Llanfrynach

St. Canna, Llangan

St. Mary, St Mary Hill

St. Michael and all Angels, Colwinston

St. Tydfil, Llysworney Holy Trinity, Llandow

The Cowbridge Ministry Area Office is in Holy Cross Parish Church, Church Street, Cowbridge, CF71 7BB, tel: 01446 772302

email: office@cowbridgeparish.com Website is www.cowbridgeparish.com Facebook: www.facebook.com/cowbridgeparish/

The names and addresses of the Incumbent, Independent Examiner, Bankers and other professional Advisors, together with the names of the PCC / MAC Members who have served in the year ending 31st December 2021, and on the date this report was approved (including details of any parochial office held), and details of the custodian trustees who held parish property and investments in the year ending 31st December 2021, and on the date this report was approved, are shown on page 10.

STRUCTURE GOVERNANCE & 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. The MAC is not a body corporate. Its composition, procedure and powers are regulated by the Constitution. Before assuming office, every member of the MAC must sign a declaration that they will be bound by the Constitution, which provides that the members of the MAC shall be:

The constitution further provides that lay, communicant persons over the age of 16 may be entered on an Electoral Roll (subject to certain conditions) and that all such persons, so entered, are entitled to vote and to stand for election. On 13th March 2017, The Rector and the PCC resolved

(2) That hereafter, each church congregational meeting shall nominate one person from the congregation of that church to be elected to The PCC at the Annual Vestry Meeting.

APPROVED by the Ministry Area Council on 28[th] March 2022 and signed on its behalf by Miss. A. Harries, Lay Chair.

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COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

OBJECTS AND ACTIVITIES

The Church in Wales is a province within the Anglican Communion and seeks to advance the Christian religion through worldwide mission. Its calling is to nurture people in the faith of Jesus Christ and to aid them to grow in the fellowship of the Holy Spirit, so that the good news of God’s grace may be clearly proclaimed in the world and that God’s Kingdom may be honoured and advanced.

Under the constitution, it is the MAC’s duty to:

The MAC is aware of the Charity Commission’s guidance on public benefit and have had due regard to that guidance when exercising any powers or duties to which the guidance is relevant. The MAC believes that it provides a benefit to the public, by:

MAC PROCEEDINGS & ACTIVITIES

General

The PCC met four times in 2021 (via Zoom) to deal with all matters concerning the Ministry Area and consider reports from subcommittees to whom some activities are delegated.

Covid 19

The Covid 19 pandemic and resultant restrictions required all the churches of the Ministry Area to close from mid-March 2020, with the suspension of all face-to-face activities. A pattern of limited opening of some churches during the summer with stricter restrictions being applied from the Autumn continued through 2021. The Clergy Team and Standing Committee of the PCC acted quickly to ensure compliance with the emerging situation. New forms of online worship and activities for children, an updated weekly newsletter, pastoral telephone calls and mailings to those without internet, being some of those activities.

Membership and attendance

There were 266 parishioners on the roll which was renewed in spring 2022 and approved by the MAC at its meeting of the 28th of March 2022 (2020: 234, 2019: 264, 2018: 261, 2017: 263).

Communicants at Easter and Christmas in 2021 were nil due to the suspension of worship because of Covid 19 (2019: 285 & 292; 2018: 337 & 333).

It was not possible to calculate average adult weekly attendance during 2021 due to most churches being closed due to the Covid 19 Pandemic. Average adult attendance, calculated in accordance with Diocesan guidelines was 2019: 171.79, 2018: 171.8, 2017:178.2. The Diocese used these figures to calculate the parish share for 2021.

MAC FINANCES: UNRESTRICTED FUNDS

Summary for 2021: Income and expenditure are detailed in the Statement of Financial Activities (page 12) and in the notes thereto. Total unrestricted income was £179,500 including one off Covid related grants and other donations (compared with income of £149,506 in 2020, £184,222 in 2019, £186,390 in 2018). The increase in income was due to the reopening of most of our churches following the relaxation of Covid 19 restrictions and twelve months income from the rental of 3 Leoline Close.

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COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

Parish Share (primarily to fund clergy stipends and oncosts eg.NI, pension, housing, supervision, etc, which provides our main mission resource) continues to be the major Parish expense and was £93,714. Covid relief grants amounting to £30,827 were received from the Diocese reducing this cost to £62,887. Other unrestricted expenditure was reduced to £84,949 compared to a budget figure of £100,516, making total unrestricted expenditure of £147,836 (2020: 144,513, 2019: £179,579 2018: 177,444). The main areas of savings being cost of ministry, maintenance of services and general parish expenses.

The increased income less costs provide a surplus of £31,964 compared with a deficit budget of -£33,679. There was a net gain on revaluation of investments of £7,144, making a total surplus for the year of £39,108.

This is a remarkable outcome given the extraordinarily uncertain circumstances prevailing during the year. Thanks are due to all those who have worked so hard, in so many ways, to ensure the mission of the Church in our Parish has endured.

Reserves policy and future prospects:

After adding the surplus for the year, the unrestricted fund balance to carry forward is £403,425, of which £141,814 represents tangible fixed assets, leaving £261,611 as free reserves (2020: £221,971 2019: £214,632 2018: £200,649).

The MAC reserve policy is to retain a balance of unrestricted “free” reserves, as working capital and to meet future shortfalls in income or unexpected expense, equal to at least six months expenditure. Clearly the balance detailed above represents considerably more than this target, but the MAC has concerns, which dictate continuing caution.

MAC FINANCES: DESIGNATED FUNDS

The proceeds from disposal of Llanfair Hall were set aside to fund extraordinary repairs and improvements to Parish churches. No interest has been added to the fund in the financial period. The balance carried forward being £174,611 to fund further such extraordinary expenditure in the Parish, including quinquennial repairs.

The Llanblethian Church Hall fund is for the running and maintenance of the hall by a delegated Hall Management Committee. Activities this year have resulted in a deficit of -£2,995 due to loss of hire income and the Hall Committee taking the opportunity of the enforced closure due to Covid 19, to undertake work to the roof at a cost of £2,016. The fund shows a year end balance of £11,377. The Hall is usually well used and a significant asset to the church as a means of community engagement. The Church Hall Management Committee are to be congratulated for their hard work and dedication.

Llanblethian Church is a beneficiary of the Evan Jenkins Charity to fund repairs to the church up to certain limits imposed by its trust deed. However, there are exclusions including new equipment and facilities. Fees for filming at Llanblethian have been set aside to deal with those quinquennial repair and improvement costs which may not be covered by the Evan Jenkins Trust; the balance carried forward is £9,019.

Mission Fund: At its meeting of 8[th] December 2020 the PCC agreed that in the event of a deficit of unrestricted funds, this fund can be used towards the cost of the Assistant Parish Treasurer. The Parish mission fund balance carried forward is £19,258.

MAC FINANCES: RESTRICTED FUNDS

Income and expenditure totals are shown in the Statement of Financial Activities on page 17 and in the accompanying notes; the movements in and details of each of the major funds is shown in note 19 to the Financial Statements. Charity law provides that the restricted fund balances carried forward may only be expended upon the purpose for which the funds were given.

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COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

RISK ASSESSMENT

The MAC has reviewed the risks to its operations and is satisfied that they are mitigated in so far as the MAC has power to do so. The major risks are assessed as:

· Provision of leadership to maintain ministry and services to the community in the light of the MAC policy to maintain all the churches in the Ministry Area and the limited capacity of its clergy.

· Increasing demands re legal, financial and administrative matters which exceed volunteer capacity and skill set.

FUND INVESTMENT AND ADEQUACY

Restricted and designated fund balances are largely represented by on-demand deposits and current account bank balances. Free unrestricted reserves are represented by similar deposit and bank balances, plus investments, the latter being approximately equal to 33% of free unrestricted reserves at year end. The net yield on the listed investments including a gain on revaluation in 2021 was 10.4% based upon the year end value. The investments are described in note 12 to the Financial Statements.

CHURCH FABRIC

The MAC reviewed its priorities regarding the repair of its buildings in light of the impact of the Covid 19 pandemic. The MAC noted there has been a drastic cut in the already limited funding available from external sources and it has become extremely difficult to contract the specialised trades people required for works to listed buildings. The MAC resolved the following:

Holy Cross Parish Church: A Faculty was granted for the regularisation of the current internal layout of Holy Cross: retention of the open space at the front of the Nave and the provision of 60 suitable stacking chairs. The provision of suitable floor covering to be reviewed in three years.

St. Hilary Church: The architect has been asked to draw up a scheme to include the most urgent works to the tower capped at £80,000 + VAT. £50,000 is already available towards those works and the St. Hilary Church Committee have accepted the offer of a loan of £30,000 from the MAC to be repaid over 15 years. Since then, further funding has become available, and it is hoped that the loan amount will be substantially reduced if not negated.

St. Mary Church: The architect has been asked to draw up a scheme for the most urgent works to the tower capped at £89,000 + VAT. Funding being available from the proceeds of the sale of Llanfair Church Hall and the St. Mary Church Building Fund. External funding sources are also being explored

Llanblethian Church. £64,000 is required; approval from the Evan Jenkins Charity has been given for a rolling programme of repairs over the next 3 to 5 years. £34,000 of works to the rainwater goods have been commissioned and a recent tree survey notes £22,000 of works are required in the churchyard.

Llansannor Church. £19,000 of works noted in the Quinquennial Inspection are outstanding.

Llandough Church is investigating the provision of a kitchen and toilet in the church which will require a faculty application in due course.

The MAC and Standing Committee have decided that churches need additional help and support in completing works required in the Quinquennial Inspections. The Benefice may need to make money available from Parish reserves rather than leaving the full costs to found by individual churches. The priority in this respect is work to St Hilary and St Mary Church towers.

APPROVED by the Ministry Area Council on 28th March 2022 and signed on its behalf by Miss. A. Harries, Lay

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COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497) Annual Report & Accounts 2021 Chair.

THE RECTORIAL BENEFICE OF COWBRIDGE PAROCHIAL CHURCH COUNCIL

(Registered Charity Number 1131497)

PCC / MAC MEMBERS 1st JANUARY 2021 TO 28th MARCH 2022.

Rector/Incumbent Rev'd Dr Stephen Adams
The Rectory, 85 Broadway, Llanblethian, CF71 7EY
Lay Chair Miss Andrea Harries
Vicar Rev'd Victoria Ashley
Assistant Curate Rev'd Ian Yemm
Associate Priest Rev'd Jude Peters
Associate Priest Rev'd Dr Angela Cooper
(From 6th Dec '21)
Appointed by the Bishop in the absence of an Annual Vestry Meeting due to Covid 19
Parish Warden Peter Davies
Parish Warden Howard Perks
David Crompton
Flemingston
Andrea Harries
Holy Cross
Sue Cox
Llanblethian
Duncan Addison
Llandough
John Homfray
Llanfrynach
John P.R.Williams
Llansannor
Pamela Harris
Penllyn
John Williams
St Hilary
Catherine Mangles
St. Mary Church
Shena Sarjeant
Ystradowen
Simon Lloyd
St Mary Hill
Howard Pearson
Llangan
Others Marion Layton-Matthews
Safeguarding Officer
Stephanie Bonnar
Secretary
David Lloyd Jones
Treasurer
CUSTODIAN TRUSTEES Freehold property is held in trust for the Parish either by the Representative
Body of the Church in Wales (RB) or the Llandaff Diocesan Board of Finance.
Investments are held in trust by the RB or in the names of the Rector and
Churchwardens.
INDEPENDENT EXAMINER Adey, Fitzgerald and Walker, Chartered Certified Accountants
The Pavilion, Eastgate, Cowbridge, Vale of Glamorgan
BANKERS HSBC Bank plc., 61 High Street, Cowbridge, CF7 7YJ;
COIF Charities Deposit Fund, 80 Cheapside London, EC2V 6DZ
NatWest Bank plc., Ely Valley Rd, Talbot Green, Pontyclun, CF72 8AL
Barclays Bank plc., 36 Dunraven Place, Bridgend, CF31 1HY
ARCHITECTS Caroe & Partners, Architects, Penniless Porch, Wells, Somerset, BA5 2RB
R&M Studio Ltd, The Maltings, East Tyndall Street, Cardiff. CF24 6EA.
Gillard Assoociates Architects, The Quay Pad, Cardiff Marina, Cardiff. CF11 0SY
HONORARY SOLICITORS Anthony and Jarvie, Solicitors, 6 Court Road, Bridgend, CF31 1BW

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COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

INDEPENDENT EXAMINERS REPORT TO THE MEMBERS OF THE MINISTRY AREA COUNCIL

I report on the Financial Statements of the Rectorial Benefice of Cowbridge for the year ended 31st December 2021, which are set out on pages 12 to 18.

RESPECTIVE RESPONSIBILITIES OF MINISTRY AREA COUNCIL AND EXAMINER

As the Ministry Area Council, you are responsible for the preparation of the accounts. You 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. The charity’s gross income did not exceed £500,000 and I am qualified to undertake the examination by being a qualified Fellow of the Association of Chartered Certified Accountants.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with 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 the 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.

INDEPENDENT EXAMINER’S 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 other 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.

P. Walker, F.C.C.A. Adey Fitzgerald & Walker Chartered Certified Accountants, The Pavilion, Eastgate Cowbridge, CF71 7AB

Tel: 01446 772299

DATE: 14[th] April 2022

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COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

INCOME FROM:
Donations, legacies, etc.
Planned giving,
church collections
donations, grants,
legacies, tax refunds
Charitable activities
Fees for
weddings/funerals
Other trading activities
Fund-raising,
rental income
church hall income
Investments
Dividends and interest
Other income
EXPENDITURE ON:
Charitable activities
Promoting the mission of th
Support for ministry
Church property
Parish running costs
Mission
Raising funds
NET INCOME/(EXPENDIT
Transfers between funds
Gains / losses on
investment assets
NET MOVEMENT IN FUND
RECONCILIATION OF FU
Balances brought forward
Balances carried forward		 THIS YEAR 2021
Notes
Unrestricted
Designated
Restricted
Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
2
137,838
77,829
215,667
6,388
8,244
14,632
34,340
658
2,266
37,264
934
65
560
1,559
3
179,500
723
88,899
269,122
e church
4
70,555
70,555
5
27,250
3,654
42,788
73,692
6
49,261
49,261
7
308
845
1,153
147,374
3,654
43,633
194,661
462
462
147,836
3,654
43,633
195,123
URE)
31,664
(2,931)
45,266
73,999
19
300
(300)
0
31,964
(2,931)
44,966
73,999
12
7,144
7,144
S
39,108
(2,931)
44,966
81,143
NDS
364,317
217,196
235,441
3,000
819,954

403,425
214,265
280,407
3,000
901,097		 THIS YEAR 2021
Notes
Unrestricted
Designated
Restricted
Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
2
137,838
77,829
215,667
6,388
8,244
14,632
34,340
658
2,266
37,264
934
65
560
1,559
3
179,500
723
88,899
269,122
e church
4
70,555
70,555
5
27,250
3,654
42,788
73,692
6
49,261
49,261
7
308
845
1,153
147,374
3,654
43,633
194,661
462
462
147,836
3,654
43,633
195,123
URE)
31,664
(2,931)
45,266
73,999
19
300
(300)
0
31,964
(2,931)
44,966
73,999
12
7,144
7,144
S
39,108
(2,931)
44,966
81,143
NDS
364,317
217,196
235,441
3,000
819,954

403,425
214,265
280,407
3,000
901,097		 THIS YEAR 2021
Notes
Unrestricted
Designated
Restricted
Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
2
137,838
77,829
215,667
6,388
8,244
14,632
34,340
658
2,266
37,264
934
65
560
1,559
3
179,500
723
88,899
269,122
e church
4
70,555
70,555
5
27,250
3,654
42,788
73,692
6
49,261
49,261
7
308
845
1,153
147,374
3,654
43,633
194,661
462
462
147,836
3,654
43,633
195,123
URE)
31,664
(2,931)
45,266
73,999
19
300
(300)
0
31,964
(2,931)
44,966
73,999
12
7,144
7,144
S
39,108
(2,931)
44,966
81,143
NDS
364,317
217,196
235,441
3,000
819,954

403,425
214,265
280,407
3,000
901,097		 THIS YEAR 2021
Notes
Unrestricted
Designated
Restricted
Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
2
137,838
77,829
215,667
6,388
8,244
14,632
34,340
658
2,266
37,264
934
65
560
1,559
3
179,500
723
88,899
269,122
e church
4
70,555
70,555
5
27,250
3,654
42,788
73,692
6
49,261
49,261
7
308
845
1,153
147,374
3,654
43,633
194,661
462
462
147,836
3,654
43,633
195,123
URE)
31,664
(2,931)
45,266
73,999
19
300
(300)
0
31,964
(2,931)
44,966
73,999
12
7,144
7,144
S
39,108
(2,931)
44,966
81,143
NDS
364,317
217,196
235,441
3,000
819,954

403,425
214,265
280,407
3,000
901,097		 THIS YEAR 2021
Notes
Unrestricted
Designated
Restricted
Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
2
137,838
77,829
215,667
6,388
8,244
14,632
34,340
658
2,266
37,264
934
65
560
1,559
3
179,500
723
88,899
269,122
e church
4
70,555
70,555
5
27,250
3,654
42,788
73,692
6
49,261
49,261
7
308
845
1,153
147,374
3,654
43,633
194,661
462
462
147,836
3,654
43,633
195,123
URE)
31,664
(2,931)
45,266
73,999
19
300
(300)
0
31,964
(2,931)
44,966
73,999
12
7,144
7,144
S
39,108
(2,931)
44,966
81,143
NDS
364,317
217,196
235,441
3,000
819,954

403,425
214,265
280,407
3,000
901,097		 THIS YEAR 2021
Notes
Unrestricted
Designated
Restricted
Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
2
137,838
77,829
215,667
6,388
8,244
14,632
34,340
658
2,266
37,264
934
65
560
1,559
3
179,500
723
88,899
269,122
e church
4
70,555
70,555
5
27,250
3,654
42,788
73,692
6
49,261
49,261
7
308
845
1,153
147,374
3,654
43,633
194,661
462
462
147,836
3,654
43,633
195,123
URE)
31,664
(2,931)
45,266
73,999
19
300
(300)
0
31,964
(2,931)
44,966
73,999
12
7,144
7,144
S
39,108
(2,931)
44,966
81,143
NDS
364,317
217,196
235,441
3,000
819,954

403,425
214,265
280,407
3,000
901,097		 LAST YEAR 2020
Unrestricted
Designated
Restricted Endowment
Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
131,453
24,374
155,827
2,477
6,433
8,910
14,281
1,320
7,899
23,500
1,295
357
780
2,432		 LAST YEAR 2020
Unrestricted
Designated
Restricted Endowment
Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
131,453
24,374
155,827
2,477
6,433
8,910
14,281
1,320
7,899
23,500
1,295
357
780
2,432		 LAST YEAR 2020
Unrestricted
Designated
Restricted Endowment
Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
131,453
24,374
155,827
2,477
6,433
8,910
14,281
1,320
7,899
23,500
1,295
357
780
2,432		 LAST YEAR 2020
Unrestricted
Designated
Restricted Endowment
Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
131,453
24,374
155,827
2,477
6,433
8,910
14,281
1,320
7,899
23,500
1,295
357
780
2,432		 LAST YEAR 2020
Unrestricted
Designated
Restricted Endowment
Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
131,453
24,374
155,827
2,477
6,433
8,910
14,281
1,320
7,899
23,500
1,295
357
780
2,432
179,500 723 88,899 269,122 149,506 1,677 39,486 190,669
3,654 42,788
845		 70,555
73,692
49,261
1,153		 70,238
26,950
47,048
145		 7,971 17,042
3,760
646		 0 70,238
51,963
50,808
791
173,800
27,270
3,654 43,633 194,661
462		 144,381
132		 7,971 21,448
27,138
147,836 3,654 43,633 195,123 144,513 7,971 48,586 201,070
31,664
300		 (2,931) 45,266
(300)		 73,999
0		 4,993
1,548		 (6,294) (9,100)
(1,548)		 (10,401)
0
31,964
7,144		 (2,931) 44,966 73,999
7,144		 6,541
(165)		 (6,294) (10,648) (10,401)
(165)
39,108
364,317		 (2,931)
217,196		 44,966
235,441		 3,000 81,143
819,954		 6,376
357,941		 (6,294)
223,490		 (10,648)
246,089		 3,000 (10,566)
830,520
403,425 214,265 280,407 3,000 901,097 364,317 217,196 235,441 3,000 819,954

The notes on pages 14 to 18 form part of this statement

12

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

BALANCE SHEET AT 31ST DECEMBER 2021

FIXED ASSETS
Tangible assets
Investments
CURRENT ASSETS
Stocks
Debtors
Short term investments
Cash & bank balances
LIABILITIES
Creditors falling due
within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
LIABILITIES
Creditors falling due
after one year
TOTAL NET ASSETS
FUNDS
Endowment
Restricted income
Designated unrestricted
Unrestricted funds		 Notes
11
12
13
14
15
16
17
18
19
20		 THIS YEAR 2021
Unrestricted Designated Restricted Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
141,814
141,814
85,882
174,611
3,000
263,493		 THIS YEAR 2021
Unrestricted Designated Restricted Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
141,814
141,814
85,882
174,611
3,000
263,493		 THIS YEAR 2021
Unrestricted Designated Restricted Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
141,814
141,814
85,882
174,611
3,000
263,493		 THIS YEAR 2021
Unrestricted Designated Restricted Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
141,814
141,814
85,882
174,611
3,000
263,493		 THIS YEAR 2021
Unrestricted Designated Restricted Endowment
This Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
141,814
141,814
85,882
174,611
3,000
263,493		 LAST YEAR 2020
Unrestricted
Designated
Restricted
Endowment Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
142,346
142,346
78,738
174,611
3,000
256,349		 LAST YEAR 2020
Unrestricted
Designated
Restricted
Endowment Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
142,346
142,346
78,738
174,611
3,000
256,349		 LAST YEAR 2020
Unrestricted
Designated
Restricted
Endowment Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
142,346
142,346
78,738
174,611
3,000
256,349		 LAST YEAR 2020
Unrestricted
Designated
Restricted
Endowment Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
142,346
142,346
78,738
174,611
3,000
256,349		 LAST YEAR 2020
Unrestricted
Designated
Restricted
Endowment Last Year
Funds
Funds
Funds
Funds
Total
£
£
£
£
£
142,346
142,346
78,738
174,611
3,000
256,349
227,696 174,611 3,000 405,307 221,084 174,611 3,000 398,695
3,875
15,244
162,668		 390
33,753
5,593		 5,465
229,435
45,507		 3,875
21,099
263,188
213,768		 4,415
14,551
11,714
119,646		 340
38,688
3,617		 6,710
217,747
11,062		 4,415
21,601
268,149
134,325
181,787 39,736 280,407 501,930 150,326 42,645 235,519 428,490
3,558 82 3,640 4,593 60 78 4,731
178,229
405,925		 39,654
214,265		 280,407
280,407		 3,000 498,290
903,597		 145,733
366,817		 42,585
217,196		 235,441
235,441		 3,000 423,759
822,454
2,500
403,425		 214,265 280,407 3,000 2,500
901,097		 2,500
364,317		 217,196 235,441 3,000 2,500
819,954
403,425 214,265 280,407 3,000 3,000
280,407
214,265
403,425		 364,317 217,196 235,441 3,000 3,000
235,441
217,196
364,317
403,425 214,265 280,407 3,000 901,097 364,317 217,196 235,441 3,000 819,954

The notes on pages 14 to 18 form part of this Balance Sheet

APPROVED by the Ministry Area Council on 28th March 2022 and signed on its behalf by Miss. A. Harries, Lay Chair.

13

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

1. Accounting policies

The accounting policies adopted in the preparation of the financial statements, are as follows

a. Basis of preparation

The Rectorial Benefice of Cowbridge Parochial Church Council is a charity registered with the Charity Commision for England and Wales (Reg. No. 1131497) and is a Public Benefit Entity within the meaning of the accounting standard FRS102. The Financial Statements have been prepared in accordance with the Charities Act 2011, the Church In Wales Accounting Regulations, the applicable accounting standard (FRS102) and the Charities SORP based thereon, except as may be detailed in the following notes.

b. Preparation of Financial Statements on a going concern basis

The Ministry Area Council (PCC) has no reason to believe that the Parish will not remain a going concern for the foreseeable future and the Financial Statements have been prepared on this basis.

c. Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the Parish. Designated funds are unrestricted funds of the Parish which the MAC has decided at their discretion to set aside for a specific purpose. Restricted funds are donations given by the donor, or invited by the MAC, for a specific purpose, and may only be expended on those purposes; unspent balances must be carried forward and only spent on those specific purposes.

d. Income is accounted for gross.

Income is generally recognised when the MAC is entitled to the funds, there is sufficient certainty of receipt and the amount can be measured reliably. Planned giving, collections and donations are recognised when received. Tax refunds are recognised as soon as the amounts are claimable. Dividends are accounted for when receivable; interest is accrued. Where the MAC has not invested separately for each fund, interest is apportioned to individual funds on an average balance basis.

e. Expenditure is accounted for gross.

Expenditure is recognised once there is a legal or constructive obligation to make payment, it is probable that a payment will be made and the amount can be measured reliably. Parish Share is paid regularly and is included in expenditure for the year to which it relates. Unrestricted fund grants (including donations to missions) are recognised when determined by the MAC. Amounts received specifically for missions are dealt with as restricted funds and the liability for payment is recognised when the amounts are received.

g. Property and investments held by the Representative Body of the Church in Wales

The Represntative Body of the Church in Wales (RB) hold freehold property and investments on behalf of the MAC in trust, which provides that upon disposal, the proceeds may be applied by the MAC for charitable church purposes. Since the Parish is economically responsible for the properties and is solely concerned with the risks and rewards that relate both to the properties and the investments, it is the MAC view that the accounting principle of substance over form should be applied and that the properties and investments should be included in the Balance Sheet.

h. Freehold Property

All freehold property with the exception of Llansannor Hall is held by the Representative Body of the Church in Wales (RB) on trust as described above. The freehold of Llansannor Hall is held by the Llandaff Diocesan Board of Finance. The bases for the valuation of freehold property is shown in note 11. Routine additions and replacements to Church Hall contents are charged to current expenditure. Except for the dimunition in value of the land at Ystradowen (see note 11), no provision is made for depreciation of freehold property on the basis that with the possible exception of Leoline Close, the amounts included in the balance sheet probably represent no more than the value of the land, so no depreciation charge is appropriate. For Leoline Close, the excess of cost over the probabable value of the land, is such that any resultant depreciation charge spread over the economic life of the property is immaterial.

14

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 (continued)

This year
Last year
Unrestricted
Designated
Restricted
Total
Unrestricted
Designated
Restricted
Total
£
£
£
£
£
£
£
£
2. Donations, legacies. etc.
Planned giving
84,789
84,789
78,091
78,091
Loose collections
18,510
885
19,395
10,870
646
11,516
Donations
and other voluntary income
5,977
14,137
20,114
14,338
18,156
32,494
Goods for re-sale at cost
Grants
Government (NI & LDBF grants)
3,037
61,093
64,130
5,941
5,042
10,983
Lottery & Local Authority
Other
Tax refunds Gift Aid
21,113
263
21,376
19,838
530
20,368
GASDS
4,412
1,451
5,863
2,375
2,375
137,838
77,829
215,667
131,453
0
24,374
155,827
3. Other income
0
0
0
0
4. Support for ministry
Ministry support
Parish share of diocesan costs
62,887
62,887
65,078
65,078
Parochial expenses of clerics
7,165
7,165
4,553
4,553
Other ministry costs
503
503
607
607
70,555
0
70,555
70,238
70,238
5. Church property
Maintenance of churches
25,951
24,197
50,148
25,988
11,027
37,015
Maintenance of other property
1,299
3,654
18,591
23,544
962
7,971
6,015
14,948
Repairs Leoline Close Curate House
27,250
3,654
42,788
73,692
26,950
7,971
17,042
51,963
6. Parish running costs
Parish administrator
38,636
38,636
37,982
37,982
General parish expenses
8,946
8,946
7,553
3,690
11,243
Maintenance of services, music, etc.
1,679
1,679
1,513
70
1,583
49,261
0
0
49,261
47,048
0
3,760
50,808
7. Missions
Home / World
845
845
0
Parish
308
308
145
646
791
308
845
1,153
145
646
791
This year
Last year
8. Independent Examination Fees
Fees for reporting on the Financial Statements
£
576
540
9. Employees
Gross wages and salaries
£
38,697
39,409
Employer's national insurance costs
£
3,063
2,994
Pension contributions (not a defined benefit scheme)
£
4,590
4,561
Total staff costs
£
46,350
46,964
Average number of staff employed: Full time
1
1
Part time
2
2
Number of employee receiving emoluments (excluding employer pension costs) of more than £60,000
£
Nil
Nil
10. Payments to trustees (MAC members) - Related party transactions
Parish clergy are ex officio MAC members; an insignificant amount of expenses
paid to them as clergy may relate to their duties as MAC members.
Expenses paid to MAC members (other than clergy)
£
Nil
Nil
Other transactions with MAC members
Nil
Nil
The Parish Administrator is the MAC Treasurer, as such is a MAC member.His total benefits were
£
38,636
37,964		 This year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 This year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 This year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 This year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£
84,789
18,510
5,977
3,037
21,113
4,412		 885
14,137
61,093
263
1,451		 84,789
19,395
20,114
64,130
21,376
5,863		 78,091
10,870
14,338
5,941
19,838
2,375		 646
18,156
5,042
530		 78,091
11,516
32,494
10,983
20,368
2,375
137,838 77,829 215,667 131,453 0 24,374 155,827
0
0
0 0
62,887
7,165
503		 62,887
7,165
503		 65,078
4,553
607		 65,078
4,553
607
70,555 0 70,555 70,238 70,238
25,951
1,299		 3,654 24,197
18,591		 50,148
23,544		 25,988
962		 7,971 11,027
6,015		 37,015
14,948
27,250 3,654 42,788 73,692 26,950 7,971 17,042 51,963
38,636
8,946
1,679		 38,636
8,946
1,679		 37,982
7,553
1,513		 3,690
70		 37,982
11,243
1,583
49,261 0 0 49,261 47,048 0 3,760 50,808
308 845 845
308		 145 646 0
791
308 845 1,153 145 646 791
This year
576
38,697
3,063
4,590		 Last year
540
39,409
2,994
4,561
46,350 46,964
1
2
Nil
Nil
Nil
38,636		 1
2
Nil
Nil
Nil
37,964

15

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 (continued)

angible fixed assets
Unrestricted
Restricted
Freehold
Equipment
Equipment
property
£
£
£
Cost or valuation:
Balance 1st January
145,121
16,040
2,013
Additions at cost
Disposal at Cost
Balance 31st December
145,121
16,040
2,013
Accumulated depreciation:
Balance 1st January
3,535
15,280
2,013
Depreciation for Year
532
Depreciation on Disposal
Balance 31st December
3,535
15,812
2,013
Net book value 1st January
141,586
760
0
Net book value 31st December
141,586
228
0
FREEHOLD PROPERTY used in connection with the direct purposes of the Parish, comprises:
(see note 1(viii) and 1(ix) )
Llanblethian Church Hall (inc. Contents)
PCC valuation 31 Dec.1996
Freehold interest in Llansannor Church Hall
PCC valuation 31 Dec.1996
Curate's House, Leoline Close
Net cost
Land at Ystradowen
Net cost		 Unrestricted
Freehold
Equipment
property
£
£		 Unrestricted
Freehold
Equipment
property
£
£		 Restricted
Equipment
£		 Total
£
145,121 16,040 2,013 163,174
145,121 16,040 2,013 163,174
3,535 15,280
532		 2,013 20,828
532
0
3,535 15,812 2,013 21,360
141,586 760 0 142,346
141,586 228 0 141,814
£
40,000
15,000
86,586
3,535
145,121

11. Tangible fixed assets

No reliable cost information exists for Llanblethian Hall or the freehold interest in Llansannor Hall. In accordance with accounting standard FRS102, they are included at "deemed historical cost" being the values existing at the time the accounting standard FRS102 was first applied to the Rectorial Benefice of Cowbridge Ministry Area Council financial statements.

The Llansannor Church Hall site is leased for 20 years to the Llansannor Community Hall Association, who have built a hall on the site. The Church retains exclusive use of the hall on Sundays and for one evening per week. The MAC cannot dispose of the freehold without Diocesan consent, and the reservation of time for use by the church, together with its use as a community hall with similar purposes to those of a church hall, suggest that its use in connection with church purposes has not changed.

The land at Ystradowen was consecrated as an extension to the Churchyard during 2011; as such it has no value for the MAC and full provision for diminution in value has been made.

12. Investment fixed assets
Unrestricted
Fair market Value at 1st January
Interest
Net gains/(losses) on revaluation
Fair market value at 31st December		 Listed
Investment
Cash for
Endowment
investments
properties
investment TOTAL
£
£
£		 Listed
Investment
Cash for
Endowment
investments
properties
investment TOTAL
£
£
£		 Listed
Investment
Cash for
Endowment
investments
properties
investment TOTAL
£
£
£		 Listed
Investment
Cash for
Endowment
investments
properties
investment TOTAL
£
£
£		 Listed
Investment
Cash for
Endowment
investments
properties
investment TOTAL
£
£
£		 Nat Savings
Bond
£
72,494
7144		 6,244 174,611 253,349
0
7,144		 3,000
79,638 6,244 174,611 260,493 3,000

Investment properties include land at the junction of Broadway and Castle Hill, Llanblethian, valued at cost of fencing and establishing title, etc. Its current fair value is difficult to determine; the MAC believes the cost of obtaining a valuation outweighs any benefit. The property is held by the RB - see note 1g).

The Representative Body of the Church in Wales holds for the Parish a small plot of land at Ystradowen known as Ystradowen Hall (see note 1g. No cost information is available and in its present state it probably has little value; it is therefore recognised as an investment property but with no value.

Listed investments, included above at 31st December 2021, include

10,840 M & G Charibond Distribution Units (held in the name of the incumbent and church wardens). 29,661 Church in Wales Common Investment Fund shares (held by the RB - see note 1g) ). £3,000 National Savings Bond.

The cash for investment represents the proceeds from the sale of Llanfair Hall, plus accumulated interest, (held by the RB - see note 1g) which awaits a MAC decision of when and how it should be invested.

16

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 (continued)

13. Stocks comprise office stationery, wine and altar breads, candles and heating oil stocks.

14.Debtors
Parish share rebate due
Fees and other trading debtors
Prepayments
Other debtors
15. Current Asset Investments
On call deposit accounts
16. Creditors falling due in one year
Accruals
Other creditors
17. Creditors falling due after one year
Church in Wales loan re Leoline Close,
interest free, repayable on disposal.		 This year
Unrestricted Designated
Restricted
Total
£
£
£
£		 This year
Unrestricted Designated
Restricted
Total
£
£
£
£		 This year
Unrestricted Designated
Restricted
Total
£
£
£
£		 This year
Unrestricted Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£		 Last year
Unrestricted
Designated
Restricted
Total
£
£
£
£
4,932
1,054
470
8,788		 390 5,465 4,932
1,054
860
14,253		 4,567
1,196
490
8,298		 340 6,710 4,567
1,196
830
15,008
15,244 390 5,465 21,099 14,551 340 6,710 21,601
33,753 229,435 263,188 11,714 38,688 217,747 268,149
922
2,636		 59
23		 981
2,659		 1,469
3,124		 47
13		 78 1,516
3,215
3,558 82 0 3,640 4,593 60 78 4,731

2,500		 2,500
2,500 2,500

18. Endowment Funds

The documents determining the purpose of a £3,000 bequest by Mrs Thompson cannot be traced; it is believed that the income is for general purposes; £1 income has been credited to unrestricted funds (last year £34) .

19. Restricted income funds Balance B/F
Income
Expenditure
Transfers
Balance C/F		 Balance B/F
Income
Expenditure
Transfers
Balance C/F		 Balance B/F
Income
Expenditure
Transfers
Balance C/F		 Balance B/F
Income
Expenditure
Transfers
Balance C/F		 Balance B/F
Income
Expenditure
Transfers
Balance C/F
Name
Missions
DM Jones Memorial Fund
Holy Cross
Holy Cross Piano
Llanblethian Church
Llanblethian Churchyard
Llanblethian sound system
Llandough Church & Churchyard
St Mary Church
St Mary Church Churchyard
St. Hilary Church
St. Hilary Churchyard
St Hilary water supply
St Hilary Altar requisites
Flemingston Church
Flemingston Churchyard
Llansannor Church
Llansannor Churchyard
Penllyn Church
Llanfrynach Church
Llanfrynach Churchyard
Llangan 100 Club
Llangan Friends
Llangan Building
Llangan Old School Room
Llangan Churchyard
St Mary Hill Building
St Mary Hill 100 Club
St Mary Hill Churchyard
Ystradowen Church
Ystradowen Churchyard
HX Lighting
Other small funds - 12 balances at 31 D		 Purpose £
£
£
£
£
Support of external missions 156 845 845 156
Historic Fabric of Holy Cross 5,031 12 5,043
Church restoration 57,719 118 11,857 45,980
Maintenance of grand piano 1,355 3 1,358
Repairs and maintenance 4,483 3,259 3,249 4,493
Churchyard maintenance 12,612 2,621 2,592 12,641
Provision/maintenance 478 1 479
Repairs and maintenance 2,990 383 21 3,352
Repairs and maintenance 14,465 6,536 4,038 16,963
Churchyard maintenance 3,603 1,281 2,700 2,184
Repairs and maintenance 19,996 38,224 2,422 55,798
Churchyard maintenance 4,697 1,462 769 5,390
Provision of water supply 3,490 8 3,498
Altar furnishings etc 431 1 432
Repairs and maintenance
Churchyard maintenance
Repairs and maintenance
Churchyard maintenance
Repairs and maintenance
Repairs and maintenance
Churchyard maintenance
Maintenance St Canna
Maintenance St Canna
Maintenance St Canna
Llangan community project
Churchyard maintenance
Repairs and maintenance
Maintenance St Mary Hill
Churchyard maintenance
Repairs and maintenance
Churchyard maintenance
External Lighting
ecember		 4,304 173 4,477
6,776 375 660 6,491
2,237 4 924 1,317
60 1,125 1,185
12,449 3,032 15,481
4,621 10 4,631
2,727 489 3,216
6,464 836 300 7,000
6,682 1,107 624 7,165
3,567 9,407 462 12,512
4,675 591 1,172 4,094
2,822 9,092 9,774 2,140
34,903 79 34,982
35 130 165
4,731 1,026 5,757
3,181 183 181 3,183
1,054 1,351 1,344 1,061
0 5,006 5,006
2,647 130 2,777
235,441 88,900 43,634 300 280,407

The Llangan and St Mary Hill 100 Clubs are for the general maintenance and upkeep of St Canna and St Mary respectively; the transfers from these restricted funds to unrestricted funds is to cover the excess of expenditure over income for these churches for the year.

17

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 (continued)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 (continued) 31 DECEMBER 2021 (continued) 31 DECEMBER 2021 (continued) 31 DECEMBER 2021 (continued) 31 DECEMBER 2021 (continued)
20. Designated funds
Name
Purpose
Llanblethian hall
Running and maintenance
Llanblethian Church
Repair, maintenance and improvements
Parish mission
Parish mission and outreach
Llanfair Hall proceeds
Support major repairs in all churches		 Balance B/F
Income
Expenditure
Transfers
Balance C/F
£
£
£
£
£
14,372
8,999		 658
20		 3,653 11,377
9,019
19,214 44 19,258
174,611 174,611
217,196 722 3,653 214,265

Llanblethian Church Hall is operated on behalf of the MAC by the Llanblethian Church Hall Committee with whom they have a management agreement. Covid 19 restricted their activities during 2021 resulting in reduced hire income. The enforced closure created the opportunity to undertake some renovation work to the roof.

Filming fees from previous years at Llanblethian church produced unexpected income; the MAC has determined to set these fees aside to finance improvements to the church not covered by the Evan Jenkins Charity.

The Parish mission fund represents funds originally intended for a Church Army Evangelist, which since have been released by the donor to the MAC for general mission purposes. At its meeting of 8th Dec 2020 the MAC agreed that in the event of a deficit of unrestricted funds this fund may be used towards the cost of the assistant parish treasurer.

The proceeds from the disposal of Llanfair hall have been set aside as a designated fund to meet extraordinary costs of repair and improvement of the church buildings in the Parish, all of which are listed buildings and some of which require urgent repair following quinquennial inspection.

21. TRUST FUNDS

The Rectorial Benefice of Cowbridge has become the successor sole beneficiary of trusts in respect of which the Representative Body of the Church in Wales are the trustees. Income, which is received regularly and automatically from a number of these trusts was immaterial. For others, application has to be made for payments out of accumulated income to match expenditure incurred on those items covered by the purposes of the trusts. In 2021 the MAC made no such application.

The funds at the end of the year in respect of which the Benefice is the beneficiary are: The funds at the end of the year in respect of which the Benefice is the beneficiary are:
Name: Object:
Chancel Repair Fund Repair of Llanblethian chancel
,, ,, ,, Repair of St Mary Hill chancel
Miss S.M. Carden dec'd Maintenance of graves, Llanblethian churchyard
Mrs. C.A. Williams dec'd .. .. .. ..
Miss V.A. Morgan dec'd .. .. ..
Church Cottage, Aberthin Reparation and general upkeep, Llanblethian
H.L. Phillips dec'd Repair & maintenance Holy Cross, Cowbridge
J.W. Hall dec'd Charitable church purposes, Holy Cross,
provided certain graves are maintained
Lt. Col. C.T. Edmondes dec'd .. .. .. ..
Margaret Sole dec'd .. .. .. ..
David Mansel Jones Fund External maintenance/repair, Holy Cross Church
Anonymous Gift Charitable church purposes, Llanblethian
Mrs A G Jenkins dec'd Charitable church purposes, Llangan
provided certain graves are maintained
Mrs M C Jones .. .. .. ..
Ms O R V Battrick Payment of Parish Share

St.John the Baptist, Llanblethian and St.Owain, Ystradowen are beneficiaries of the Evan Jenkins Charity whose primary objective for distribution of income is maintenance and repair of the tenor bell in the tower of Llanblethian church. Secondary objectives include the distribution of income for the repair of Llanblethian and Ystradowen churches.

18

COWBRIDGE MINISTRY AREA (Registered Charity No. 1131497)

Annual Report & Accounts 2021

UNRESTRICTED FUNDS

----- Start of picture text -----
YEARS ENDED 31 DECEMBER
BUDGET
2017 2018 2019 2020 2021 2022
INCOME
Stewardship 87,337 82,725 76,101 78,091 84,789 93,564
Collections 25,143 34,256 34,351 10,870 18,510 25,689
Donations, grants, etc. 18,104 10,552 12,147 20,279 9,014 8,145
Tax refunds 28,207 27,449 25,862 22,213 25,525 29,941
Funds generated 20,256 22,240 27,655 14,281 34,340 32,950
Investment income 1,888 1,701 2,032 1,295 934 1,600
Fees 9,627 7,467 6,074 2,477 6,388 5,546
Insurance receipts, etc. 2,096
TOTAL 192,658 186,390 184,222 149,506 179,500 197,435
EXPENDITURE
Parish share 85,528 85,933 88,482 65,078 62,887 104,703
Clerics and ministry expenses 10,487 11,299 9,903 5,160 7,668 18,141
Church property costs 28,062 33,179 31,670 26,950 27,250 33,203
Administrator 30,030 30,889 36,738 37,982 38,636 40,806
General parish expenses 11,384 13,323 11,645 9,066 10,625 14,406
Mission 2,181 2,310 797 145 308 1,000
Cost of generating funds 566 511 344 132 462
TOTAL 168,238 177,444 179,579 144,513 147,836 212,259
SURPLUS / (DEFICIT)
SURPLUS / (DEFICIT) 24,420 8,946 4,643 4,993 31,664 (14,824)
Surplus on disposal of property
Investment gains/(losses) 3,658 (2,980) 7,606 (165) 7,144
28,078 5,966 12,249 4,828 38,808 (14,824)
Designated / restricted fund transfers 2,091 800 1,000 1,548 300
Net addition / reduction of reserves 30,169 6,766 13,249 6,376 39,108 (14,824)
----- End of picture text -----

19

COWBRIDGE MINISTR Y AREA ifte4btertdCfiGrNtyNo. 11314971 Annual Report & Accounts 2021 Parlsh of Colwin$ton. U•ndow and Lty8worney. Recol ts and Pa mants Aecountlorth¢ ear ended 31 Decemb•r 2021 General fte$M￿ FuTrJs Funts 11,301.IK> 2.618.60 R￿￿1 Total 11.301. 1618.60 Totsi DirettGMI Collection5 Donation5 Quota rebate5 GiftAidtax rebate12020. ¢knld£2Xhl1 FeesweddinES and funerals Churchyard Fees Churthyard donaiions Interest Misc- ValeofGlamoor8an Elettric refvnd COl￿n$t0n CoMmun￿yc0UrriI Comnsron ChuKh Projett. Beouest & mtsc Uysworney Chtyrth Project. ￿￿£ Uandow Churth Project. Mlsc Totsl recelpts 11.476.LX) IAIO.60 220.(KS 4,791.53 10,488.19 4A18.27 3.163.65 108. 4.818.27 2.161.65 I(￿.(￿) i.(th.(M) i.(X)8.(X) 566.(Al l(M).(M) 134.81 .89 3D).CiI 1.097.54 750.(X> 5(X).IX) 10.025.(X) 550. 372.72 350.Tr) 22,926.41 3.787.73 2.063.Tr) 2.7Y>.IK) 2L751.83 3.480. 25,231.83 618.58 315. 1.97Z.C 1,03&42 19.188.26 Balanw B/Fwd l Januèry2C¥)I 42.925.82 24.041.48 11.519.63 78.486.93 59.298.67 8alanie5 C/Fwd 31 December 2021 43.544.40 24.356.4B 9.$47.63 77,448.51 78.486.93 Statement ofasstts at 31 Detember2021 Bank BalancÈs'. CurrenlAco)uni at HSBC COIF No 1 PCCA(xxxJni Restricted Funts SBC- cok￿nSt￿ Chwth Project alc SBC. Ltyswney c(￿nty HSBC. LLgndow Churth Restorabon COIF No 2A1￿Jnt IChurttw￿d alGI 2020 Total 20.728_27 17.451.32 Furd5 23.180.43 18.391.97 Churohes 24,356.48 Churthyard 47.536.91 18.391.97 19.360.42 5.894.44 2.592.20 11460.28 l Accoums c105ed and balances I ttan5terred to CuryefttAccount L972.C(J 9.547.63 11.519.63 nk ealanc89 CIFwd at 31 D8¢ 2021 43,544.40 24.356.48 9.547.63 77.448.51 78.486.93 N(e. of Resricled Fwd5 fryChWd￿sat 31 De￿r￿￿e[2￿2l". Cohlinston 19.365.42 2,597.20 2.393.86 24.356_48 Si8ned on behJbfof the Parochial Counol on 2022 Name-jererny Ra￿tnEs{Partshwai￿enI N3me- KathJor5lTreasurerl 20

COWBRIDGE MINISTR Y AREA ifte4btertdCfiGrNtyNo. 11314971 Annual Report & Accounts 2021 PARISH OF INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PAROCHLAL CHURCH COUNCIL I iewxi on the Account8 for the year8[￿d 31 0￿)ber2021 R￿Pect[¥• r8spon$lbllrtio8 of Parochlal chU￿h Councll and Examiner. Th8 PaJcthMI Church Cwnol IPCCI are reSt￿ble fDr preparatim 0rtheAc￿Tht& The PCC ¢￿sIderS that an audit ts not requirwj under sectA)n 144121 dthe Charttv￿A¢t 2011 (the 2011 Act) and that an Independent E%￿l￿a￿On is [￿￿ed. It Is my responsibilty to". exarnine theAccounts under sK"on 145 01 Ihe 2011 Act." - to foll￿ the procedure5 dNn in the Gen¢ral DffectiMs gwen by the Charity Commissk l under section 14515llbl of the 2011 Adl", and . to State wh81her pthular mattern have CA)me ￿ my attention. 8a•l• of Ind•￿n￿OnI EMamln•V• report: My exn1nal￿n was earried out in xcordarth wrth the Genernl D¥ection$ giwn by the Chity C{￿mIss￿. examina￿On include8 a orth8 xcountinq records kept by the Parc¢hk?I Church Council and a cornpari50n of IheAcccJnts presenled with Ihose reeords 11 alBO in¢ludes con5iderabon of any unusual rtems or disck>sure5 in Ih¢Acwunts, and seektr¥ pk8nations frcffl you as Parochkql Church Council M￿b￿r5 wKerning any s￿h matters. Thg prrKedure5 undertaken do not provth all the evKlence that WOU￿ te requireil in an audit aTrJ Jn8equenlty no opinb)n is gNen as to whether theAccounts présent a and la"r vw and the ripjrt ij limited to thow matters sèt out in the statement bdthv. Ind•p￿d•n1 Ex•rnlnor'• •tat•m•nL" In connection wrth my •x3minalKJn. no matter ha¥ cc¥ne to my attents)n." 111 whth give¥ me reasonable ￿￿Se lo believ• that in ony material re8peei th• rgqutrements to keep attL)unb'rtg r￿d$ in ￿ed￿te wth se¢'on 130 of Ihts 2011 Act.. and ' to prepareAeeounl8 whth with the a￿Trting re¢￿d# •YI eompty th• aceounDng requirnment8 ofth• 2011 A￿. havo not been met.. 121 lo which. in my winion. attentM SI￿￿k1 ￿ dr￿n m ord•r to •nabl? a woper ￿￿[5￿ndin9 of th•Ateounts to bè rgached. Ind•p•ndgnt ex•mln•r. Snalur*'. Name.. John Michagl Sant Qualifieth￿.. FCA A¢dres8'. 3 Ythv Tr•• Clxe Cthinston CF71 7NF 21