## **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. 3 ## _**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.** 4 _**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.) 5 ## _**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 Incumbent, Vicars and Assistant Curates; - A Church Warden for the whole Ministry Area appointed by the Incumbent at the Annual Vestry Meeting (AVM); - A Sub-Warden for each Church if appointed by the Incumbent at the AVM - A Church Warden for the whole Parish elected at the AVM; - A Sub-Warden for each Church if elected at the AVM; - Up to 25 lay members elected at the AVM; - Co-opted Secretary and Treasurer (if not already ex-officio or elected), plus up to 7 further co-opted members. 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 - (1) To suspend the appointment of Sub-wardens for each of the Benefice Churches. (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.** 6 ## _**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: - consult and co-operate with the incumbent in all matters of concern and importance to the Ministry Area; - promote the whole mission of the Church, pastoral, evangelistic, social and ecumenical, in the Ministry Area; - be responsible for the parochial budget and all expenditure thereunder; - care for and maintain church fabric and churchyards, - act on any other matter referred to it in accordance with the Constitution; - be the normal channel of communication between parishioners and the Diocesan Bishop. 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: - fulfilling its duties detailed above; - providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers; - promoting Christian values, and service by members of the Churches in the Ministry Area to their communities, to the benefit of individuals and society as a whole. ## **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. 7 ## _**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. - The PCCC approved a budget for 2022 which shows a deficit of £14,824 (see page 19). This was based on the resumption of normal levels of income and expenditure from Jan 2022. However, this seems unlikely with an indefinite timescale for the complete lifting of restrictions. - The budget includes fund-raising provision, but the church communities report increasing difficulty to meet the targets with Covid further exacerbating this, and increasing calls to raise funds for quinquennial repairs. - The Parish quinquennial repair liabilities are enormous (see page 9 church fabric) yet external fund resources become increasingly difficult to obtain. The MAC will therefore be obliged to meet an increasing proportion of such repair costs from its own funds. Steps have already been taken to mitigate, as far as possible, these ever-increasing costs by carefully considering the options available to them. ## **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. 8 _**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: - Compliance with complex UK law relative to premises and activities; - Maintenance of listed churches and properties, which are expensive to repair; · 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. - Budget control of expenditure and adequacy of financial systems. - The ability to maintain income sufficient to match increasing costs. ## **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** 9 _**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| 10 _**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: - examine the accounts under Section 145 of the Charities Act, - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention ## **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: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have come across no 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 11 _**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. - **f. Churches Churchyards and Vicarages** are vested in the Representative Body of the Church in Wales, and are not Parish assets. Moveable Church contents (plate, furniture, etc) are inalienable property and require a faculty for disposal. They are recorded in the Church Terrier log. Many are historic items for which no reliable cost basis exists. They are not recognised in the Balance Sheet. Expenditure on Churches (including contents), Churchyards and Vicarages is written off when incurred. ## **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. - **i. Office and other Equipment** is stated at cost and written off by depreciation over four years. - **j. Investment assets** are stated at mid-market values on the balance sheet date and are detailed in note 12. - **k. Stocks** are measured at the lower of cost or market value. 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)
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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.$47.63 77,448.51 78.486.93 Statement ofasstts at 31 Detember2021 Bank BalancÈs'. CurrenlAco)uni at HSBC COIF No 1 PCCA(xxxJni Restricted Funts SBC- cok￿nSt￿ Chwth Project alc SBC. Ltyswney c(￿nty HSBC. LLgndow Churth Restorabon COIF No 2A1￿Jnt IChurttw￿d alGI 2020 Total 20.728_27 17.451.32 Furd5 23.180.43 18.391.97 Churohes 24,356.48 Churthyard 47.536.91 18.391.97 19.360.42 5.894.44 2.592.20 11460.28 l Accoums c105ed and balances I ttan5terred to CuryefttAccount L972.C(J 9.547.63 11.519.63 nk ealanc89 CIFwd at 31 D8¢ 2021 43,544.40 24.356.48 9.547.63 77.448.51 78.486.93 N(*e. of Resricled Fwd5 fryChWd￿sat 31 De￿r￿￿e[2￿2l". Cohlinston 19.365.42 2,597.20 2.393.86 24.356_48 Si8ned on behJbfof the Parochial Counol on 2022 Name-jererny Ra￿tnEs{Partshwai￿enI N3me- KathJor*5lTreasurerl 20 COWBRIDGE MINISTR Y AREA ifte4btertdCfiGrNtyNo. 11314971 Annual Report & Accounts 2021 PARISH OF INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PAROCHLAL CHURCH COUNCIL I iewxi on the Account8 for the year8[￿d 31 0￿)ber2021 R￿Pect[¥• r8spon$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 ex*n1nal￿n was earried out in xcordarth wrth the Genernl D¥ection$ giwn by the Ch*ity C{￿mIss￿. examina￿On include8 a orth8 xcountinq records kept by the Parc¢hk?I Church Council and a cornpari50n of IheAccc*Jnts 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 ￿e*d￿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. S*nalur*'. Name.. John Michagl Sant Qualifieth￿.. FCA A¢dres8'. 3 Ythv Tr•• Clxe Cthinston CF71 7NF 21