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||Page|
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|Trustees, officers and advisers|3|
|Annual Report ofthe trustees|5|
|Statement ofTrustees’ Responsibilities|13|
|Independent Auditors’ report|14|
|Consolidated Statement of Financial Activities|16|
|Consolidated and Parent Charity Balance Sheets|17|
|Consolidated Cash Flow Statement|18|
|Notes to the financial statements|19|





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|resbyterian Church ofWa<br>nnual Report oftheTrustees|les|||
|---|---|---|---|
||Coleg Y Bala|Coleg Trefeca|Candidates and<br>Training|
||||Department Fund|
||Year Ended|Yearended|Year ended|
||31 December2020|31 December2020|31 December2020|
||£‘OOO|£‘OOO|£‘OOO|
|Income||||
|From Presbyterian Church ofWales|92|86|85|
|Charitable Activities (mci course fees)|10|16|-|
|Investment income and interest|2|1|10|
|Other (md grants and furlough reclaims)|61|49|18|
||165|152|113|
|Expenditure||||
|Salaries and wages|52|47|42|
|Other|94|148|55|
||146|195|97|
|Surplus I (Deficit)|19|(43)|16|
||Coleg Y Bala|Coleg Trefeca|Candidates and|
||||Training|
||||Department Fund|
||31 December 2020|31 December2020|31 December2020|
||£‘OOO|£‘OOO|£‘OOO|
|Tangible Fixed Assets|56|385|-|
|Heritage Assets|-|223|-|
|Investments|-|-|337|
|Fixed Assets|56|608|337|
|Net CurrentAssetsl(Liabilities)|155|(84)|370|
||211|524|707|
|Unrestricted Funds|211|301|707|
|Restricted Funds|-|223|-|
|Total Funds|211|524|707|



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|summary ofthe main categories of income is show|n below:||
|---|---|---|
||£‘OOO||
|Ministry and Mission Contributions|2,183|50.2|
|Donations, legacies and grants|165|3.8|
|Investment income and interest|346|8.0|
|Income from Colleges and Centres|26|0.6|
|Other|1,624|37.4|
|Total|4,344|100|



## 



|summary ofthe main categories ofexpenditure and|theirpercentage ofthe total is|as follows:|
|---|---|---|
||£‘OOO|%|
|Ministry benefits|3,531|75.4|
|Ecumenical and PCWcontributions|677|14.4|
|Colleges and centres Costs|438|9.4|
|Other|38|0.8|
|Total|4,684|100|



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|enchmark are noted togetherwith|the previous in brackets:|||
|---|---|---|---|
|||AssetAllocation|Benchmark|
|||Parameters||
|UK Equities|75%|- 85% (70%<br>- 80%)|80% (75%)|
|Fixed Interest|15%|- 25% (15%<br>- 25%)|20% (20%)|
|Cash|0% - 5% (0%<br>- 10%)||0% (5%)|



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|rthe year ended 31 Decem|ber20|20||||
|---|---|---|---|---|---|
||Note|Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|||||2020|2019|
|||£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|Income from generated funds:||||||
|Ministry and mission contributions||2,183|-|2,183|2,308|
|Donations||41|32|73|114|
|Legacies|||||2|
|Grants||4|88|92|23|
|Income from investments|3|152|194|346|476|
|Income from charitable activities:||||||
|Colleges and centres|||26|26|125|
|Other income|4|1,270|354|1,624|928|
|Total||3,650|694|4,344|3,976|
|Expenditure on:||||||
|Charitable activities:||||||
|Ministiybenefits|6|1,320|2,211|3,531|3,641|
|EcumenicalandPCWcontributions|7|482|195|677|892|
|Colleges andcentres costs||91|347|438|529|
|||1,893|2,753|4,646|5,062|
|Other||21|17|38|28|
|Total||1,914|2,770|4,684|5,090|
|Net income I (expenditure)||1,736|(2,076)|(340)|(1,114)|
|Net gains/(losses) on investments|12|(183)|(652)|f835)|1,093|
|Net income I (expenditure)||1,553|(2,728)|(1,175)|(21)|
|Transfers between funds||(1,757)|1,757|-|-|
|Other recognised gains / flosses):||||||
|Losson disposaloffixedassets||—|—|—|(1)|
|Valuation ofheritage assets|11|-|-|-|8|
|Actuarial (loss)/gain on defined<br>pension scheme|9|(1,241)|-|(1,241)|1,749|
|Net movement on funds||(1,445)|(971)|(2,416)|1,735|
|Reconciliation offunds:||||||
|Total funds brought forward||9,373|9,892|19,265|17,530|
|Total funds carried forward||7,928|8,921|16,849|19,265|





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|onsolidated and Parent|Charity|Balance Shee|ts as at|31 December|2020|
|---|---|---|---|---|---|
|||Group||Charity||
||Note|2020<br>£‘OOO|2019<br>£‘OOO|2020<br>£‘OOO|2019<br>£‘OOO|
|Fixed assets||||||
|Tangible fixed assets|10|664|749|222|234|
|Heritage assets|11|223|223|-|-|
|Investments|12|11,843|12,678|11,506|12,309|
|||12,730|13,650|11,728|12,543|
|Currentassets||||||
|Stock|13|6|6|-|-|
|Debtors|14|2,064|2,105|2,268|2,011|
|Shortterm deposits||229|228|12|12|
|Cash at bank and in hand||473|1|48|59|
|||2,772|2,340|2,328|2,082|
|Creditors: amounts falling due||||||
|within one year|15|(570)|(696)|(606)|(853)|
|Net currentassets||2,202|1,644|1,722|1,229|
|Creditors: amounts falling due<br>after more than 1 year|15|(1,504)|(750)|(1,504)|(750)|
|Netassets excluding pension||||||
|schemeasset||13,428|14,544|11,946|13,022|
|Pension scheme surplus|9|3,421|4,721|3,421|4,721|
|Netassets||16,849|19,265|15,367|17,743|
|Funds||||||
|Unrestricted|16|4,507|4,652|4,507|4,652|
|Pension reserve||3,421|4,721|3,421|4,721|
|||7,928|9,373|7,928|9,373|
|Restricted|17|8,921|9,892|7,439|8,370|
|Total funds||16,849|19,265|15,367|17,743|







||Note|||
|---|---|---|---|
|||2020|2019|
|||£‘OOo|£‘OOO|
|Reconciliation of netexpenditureto netcash||||
|generated from I(used by)||||
|Net (expenditure)||(340)|(1,114)|
|Adjustments for:||||
|Investment income|3|(346)|(476)|
|Pension Fund|9|59|134|
|Depreciation charges|10|97|98|
|Add:||||
|(Increase) in stocks|13|-|(1)|
|Decrease / (increase) in debtors|14|41|(129)|
|Increase in creditors|15|628|911|
|Net cash generated from/(used by) operating||139|(577)|
|activities||||
|Statement ofcash flows||||
|Cash flows from operating activities||||
|Netcash generated from/ (used by) operating activities||139|(577)|
|Cash flows from investing activities:||||
|Interest from investments||346|476|
|Purchase ofinvestments||(1,252)|(1,085)|
|Proceeds from sale ofinvestments||1,252|909|
|Proceeds from sale offixed assets||-|1|
|Purchase of property, plant and equipment||(12)|(33)|
|Net cash provided by investing activities||334|268|
|Change in cash and cash equivalents||473|(309)|
|Cash & cash equivalents at 1 January||229|538|
|Cash & cash equivalents at 31 December||702|229|
|Cash equivalents attheyearend comprise:||||
|Shortterm deposits||229|228|
|Cash at bank and in hand||473|1|
|Cash & cash equivalents at 31 December||702|229|





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|Results ofConnected Charities *|||
|---|---|---|
|(*excludesgrant receivedfrom the Church)|2020|2019|
||£‘OOO|£‘OOO|
|Incoming resources|||
|Course fees|25|120|
|Shop sales|1|3|
|Donations, grants and legacies|59|23|
|Investment income|12|14|
|HMRC Furlough reclaims|69|-|
|Sundry income||5|
|Total incoming resources|166|165|





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|Resources Expended|||
|---|---|---|
|Charitable activities|433|541|
|Other|5|5|
|Total resources expended|438|546|
|Netoutgoing resources|(272)|(381)|





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|Investmentincome|||||||
|---|---|---|---|---|---|---|
|||Group|||Charity||
||2020||2019|2020||2019|
||£‘ODD||£‘OOO|£‘OOO||£‘OOO|
|Investment Income|||||||
|Unit Trusts|37||53|36||51|
|Fixed Interest and cash|54||74|52||72|
|Equities|191||298|184||288|
|Investment Property|64||51|64||51|
||346||476|336||462|



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|Other Income|||||
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||funds|funds|funds|funds|
||||2020|2019|
||£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|Bank interest|-|3|3|3|
|Loan interest receivable|27|-|27|36|
|HMRC furlough reclaim|91|350|441|-|
|Profit on sales ofchapels and manses|1,039|-|1,039|770|
|Sundry income|14|1|15|28|
|Pension<br>- interest|99|-|99|91|
|Total—Group|1,270|354|1,624|928|



## 

|Total resources used|||||
|---|---|---|---|---|
||Staffcosts|Other|Total|Total|
||£‘OOO|costs|2020|2019|
|||£‘OOO|£‘OOO|£‘OOO|
|Ministry benefits|3,246|285|3,531|3,641|
|Ecumenical and PCW contributions|175|502|677|892|
|College and centre costs|50|46|96|118|
|Other|-|38|38|28|
|Total Charity|3,471|871|4,342|4,679|
|College and centre costs|99|243|342|411|
|Total Group|3,570|1,114|4,684|5,090|
|Staffcosts|||||
|Stipends, wages and salaries|||2,614|2,542|
|Social securitycosts|||221|216|
|Pension costs|||735|668|
||||3,570|3,426|





|The total|numberofemployees by function was:|2020|2019|
|---|---|---|---|
|||Number|Number|
|Ministers|— full time|40|39|
|Ministers|— parttime|8|9|
|Field workers||43|39|
|Colleges|and centres|8|7|
|Administration||21|23|
|||120|117|



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|o received emoluments in the following range|s was:||
|---|---|---|
||2020|2019|
||Number|Number|
|£0to10,000|14(14*)|18(18*)|
|£10,001 to20,000|20 (19*)|15 (14*)|
|£20,001 to £30,000|39 (18*)|40 (16*)|
|£30,001 to £40,000|40 (2*)|37|
|£40,001 to £50,000|7 (1*)|7 (1*)|
|£50,001 tof6O,000|0|0|
||120 (54*)|117(49*)|





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|Ministry benefits|||||
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||funds|funds|2020|2019|
||£‘OOO|£‘OoO|£‘OOO|£‘OOO|
|Stipends and salaries|55|2,181|2,236|2,189|
|Pastoral expenses|-|4|4|21|
|Support costs (note 8)|500|26|526|737|
||555|2,211|2,766|2,947|
|Pension costs:|||||
|Contributions paid|577|-|577|443|
|Current service pension costs|158|-|158|225|
|Pension audit|30|-|30|26|
||765|-|765|694|
|Total ministers benefits|1,320|2,211|3,531|3,641|



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|Ecumenical and PCW Contribution|s||||
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||funds|funds|2020|2019|
||£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|International|24|6|30|38|
|Wales/UK|80|32|112|126|
|Ministers, workers, candidates, Association,<br>Presbyteries and local churches|59|141|200|313|
|Support costs (note 8)|319|16|335|415|
||482|195|677|892|





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|Supportcosts||||||
|---|---|---|---|---|---|
||Ministers|Allocation of|College|||
||Benefits|Ecumenical|and|Total 2020|Total|
|||Contributions|Centre|£‘OOO|2019|
||£‘OOO|£‘OOO|costs||£‘OOO|
||||£‘OOO|||
|Salaries&wages|275|175|50|500|469|
|Travelling & subsistence|14|9|3|26|177|
|Utility costs|17|10|3|30|31|
|Property & general insurances|20|13|4|37|34|
|Printing & stationery|32|21|6|59|120|
|Postage & telephone|16|11|3|30|40|
|Repairs, maintenance &<br>improvements|8|5|2|15|33|
|Leasing charges|13|9|2|24|18|
|Equipment & materials|14|9|3|26|38|
|Legal & professional charges|57|37|10|104|240|
|Audit fees|28|17|5|50|48|
|Depreciation|6|4|1|11|12|
|Advertising & publicity|1|-|-|1|6|
|Course fees|1|-|-|1|2|
|Bad debt charge|20|12|3|35|1|
|Publishing costs|4|3|1|8|1|
||526|335|96|957|1,270|



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|e principal actuarial assumptions use|d to calculate Scheme liabilities are:||
|---|---|---|
||31 December|31 December|
||2020|2019|
|Discount rate|1.30%|2.00%|
|Inflation: RPI|3.20%|3.25%|
|Inflation: CPI|2.70%|2.40%|
|Pension increases in payment:|||
|Discretionary increase|0.00%|0.00%|
|CPI capped at 5.0% per annum|2.60%|2.30%|
|CPI capped at2.5% per annum|2.00%|1.90%|
|Salary Increases|3.20%|2.90%|
|Retirements|All members retire at National RetirementAge (NRA)||





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|e majorcategories ofassets as a perce|ntage oftotal assets are as follows:|||
|---|---|---|---|
||31 December|31|December|
||2020||2019|
|Equities|32%||33%|
|Otherassets|4%||5%|
|Index-linked gilts|29%||28%|
|Corporate bonds|32%||32%|
|Cash|3%||2%|
|Total|100%||100%|



## 

|Amounts Recognised in the Balance Sheet|||
|---|---|---|
||2020|2019|
||£‘OOO|£‘OOO|
|Fairvalue of plan assets|31,657|28,624|
|Present value offunded obligations|(28,236)|(23,903)|
|Surplus|3421|4.721|
|Amounts Recognised in the Summary of Financial Activities over the year|||
||2020|2019|
||£‘OOO|£‘OOO|
|Current service cost|573|448|
|Administrative costs|121|118|
|Interest on liabilities|469|606|
|Interest on assets|(568)|(697)|
|Pastservice cost|34|97|
|Total|629|572|
|Remeasurements overthe year|||
||2020|2019|
||£‘OOO|£‘OOO|
|Gain on scheme assets in excess ofinterest|(2,914)|(3,350)|
|Experience losses / (gains) on liabilities|-|(395)|
|(Losses) Igains from changes to demographic assumptions|-|(429)|
|(Losses) Igains from changes to financial assumptions|4,155|2,425|
|Total|1,241|(1,749)|





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|e change in assets over the year was:|||
|---|---|---|
||2020|2019|
||£‘OOO|£‘OOO|
|Fairvalue ofassets atthe beginning ofthe year|28,624|25,234|
|Interest on assets|568|697|
|Employer contributions|570|438|
|Contributions by Scheme participants|159|155|
|Benefits paid (net ofexpenses)|(1,057)|(1,132)|
|Administration costs|(121)|(118)|
|Return on plan assets less interest|2,914|3,350|
|Fairvalue ofassetsatthe end oftheyear|31,657|28,624|



|e change in defined benefit liabilities overthe yearwas:|||
|---|---|---|
||2020|2019|
||£‘OOO|£‘OOO|
|Defined benefit liabilities atthe beginning ofthe year|23,903|22,128|
|Current service cost|573|448|
|Contributions by Scheme participants|159|155|
|Past service cost|34|97|
|Interestcost|469|606|
|Benefits paid (net ofexpenses)|(1,057)|(1,132)|
|Experience (gain) / loss on liabilities|-|(395)|
|Changes to demographicassumptions|-|(429)|
|Changes to financial assumptions|4,155|2,425|
|Defined benefit liabilities atthe end ofthe year|28,236|23,903|





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|. Tangiblefixed assets||||||
|---|---|---|---|---|---|
||||Computer|||
||||equipment!|||
||Motor|Land and|fixtures and|Property||
||vehicles|buildings|fittings|improvements|Total|
|Group|£‘OOO|£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|Cost/valuation||||||
|At 1 January 2020|13|219|514|1,384|2,130|
|Additions|-|-|12|-|12|
|At31 December2020|13|219|526|1,384|2,142|
|Accumulated Depreciation||||||
|At 1 January 2020|13|8|365|995|1,381|
|Charge forthe year|-|4|24|69|97|
|At 31 December 2020|13|12|389|1,064|1,478|
|Net book value||||||
|At31 December2020|-|207|137|320|664|
|At31 December2019|-|211|149|389|749|
|Charity||||||
|Cost/valuation||||||
|At 1 January 2020|-|219|93|-|312|
|Transferto investments||||||
|Disposals||||||
|Additions||||||
|At 31 December 2020|-|219|93|-|312|
|Accumulated Depreciation||||||
|At 1 January 2020|-|8|70|-|78|
|Charge forthe year|-|4|8|-|12|
|At31 December2020|-|12|78|-|90|
|Net book value||||||
|At 31 December 2020|-|207|15|-|222|
|At31 December2019|-|211|23|-|234|



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|2020|2019|
|---|---|
|£‘OOO|£‘OOO|
|223|223|



## 



|12. Investments|||||
|---|---|---|---|---|
||Group||Charity||
||2020|2019|2020|2019|
||£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|At 1 January|12,678|11,136|12,309|10,802|
|Transferfrom fixed assets|-|273|-|273|
|Additions|1,252|1,085|1,209|1,054|
|Disposals|(1,252)|(909)|(1,209)|(878)|
|(Losses) /Gains on investments|(835)|1093|(803)|1,058|
|At31 December|11,843|12,678|11,506|12,309|
|Cost at 31 December|9,709|10,133|9,379|9,788|
|UKInvestments|||||
|Investment property|1 ,846|1,732|1,846|1,732|
|Unit trusts|1,286|1,369|1,242|1,323|
|Fixed interest securities|1,717|1,798|1,659|1,737|
|Equities|6,812|7,711|6,583|7,451|
|Cash|182|68|176|66|
|Marketvalue ofinvestments|11,843|12,678|11,506|12,309|



|The Charity has recognised realised gains on sales ofinvestmentsofnit (2019: £nil).|The Charity has recognised realised gains on sales ofinvestmentsofnit (2019: £nil).||
|---|---|---|
|The following represent investments valued at greater than 5% ofthe total market value ofquoted||investments.|
||2020|2019|
|Merian Investment Management UK mid cap|5.56%|-|
|Unilever Ordinary Shares|5.62%|5.09%|
|UK Government Fixed Interest 1.75%, 2022|5.65%|5.16%|





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||||||Group||Chanty||
|---|---|---|---|---|---|---|---|---|
||||||2020|2019|2020|2019|
||||||£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|Goods|for|resale|and|consumables|6|6|-|-|



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|. Debtors|||||
|---|---|---|---|---|
||Group||Charity||
||2020|2019|2020|2019|
||£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|Debtors less than one year:|||||
|Ministryand mission contributions|244|195|2|195|
|Loans and mortgages|123|108|123|108|
|Otherdebtors and prepayments|672|684|876|590|
||1,039|987|1,243|893|
|Debtors more than one year:|||||
|Loans and mortgages|1,025|1,118|1,025|1,118|
||2,064|2,105|2,268|2,011|



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|||Group|||Charity||
|---|---|---|---|---|---|---|
||2020||2019|2020||2019|
||£‘OOO||£‘OOO|£‘OOO||£‘OOO|
|Creditors and accruals|227||358|263||515|
|Other liabilities|343||338|343||338|
||570||696|606||853|



|||Group|||Charity||
|---|---|---|---|---|---|---|
||2020||2019|2020||2019|
||£‘OOO||£‘OOO|£‘OOO||£‘OOO|
|Loan from the Properties Board ofthe<br>Presbyterian Church ofWales|1,504||750|1,504||750|
||1,504||750|1,504||750|





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|. Movement in Unrestric|ted Funds|||||
|---|---|---|---|---|---|
||At|Income|Expenditure|(Losses)|At31|
||1 January|||Igains|December|
||2020 £‘OOO|£‘OOO|£‘OOO|£000|2020 £000|
|Unrestricted Funds|4,652|4,578|(4,540)|(183)|4,507|
|Total Group and Charity|4,652|4,578|(4,540)|(183)|4,507|



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||At|Income|Expenditure|GainsI|At 31|
|---|---|---|---|---|---|
||7 January 2020|||(losses)|December|
||£‘OOO|£‘OOO|£‘OOO|£000|2020 £000|
|Ministries Department|5,191|2,023|(2,353)|(464)|4,397|
|Robert Davies Trust|403||-|(32)|371|
|Historical Society|6|2|-||8|
|Christian Aid||||||
|Mission Programme Fund|19|89|(65)||43|
|Moderators Fund|24|-|(2)||22|
|Davies Lecture Trust|116|3|(8)|(6)|105|
|Sale ofTheological College<br>Fund|1,482|||(118)|1,364|
|Sale ofChapels Fund|1,128|-|-|-|1,128|
|Total Charity|8,370|2,117|(2,428)|(620)|7,439|
|Coleg y Bala|192|165|(146)|-|211|
|Coleg Trefeca|344|152|(195)|-|301|
|Howell Harris Museum and<br>Artefacts|223|-|-|-|223|
|Candidates and Training<br>Department Fund|723|113|(97)|(32)|707|
|Welsh Calvinistic Methodist<br>AssuranceTrust|40|-|-|-|40|
||1,522|430|(438)|(32)|1,482|
|Total Group|9,892|2,547|(2,866)|(652)|8,921|





## 

||Tangible and|||At 31|
|---|---|---|---|---|
||heritage fixed||Other net|December|
||assets|Investments|assets I|2020|
||£‘OOO|£‘OOO|(liabilities)|£000|
||||£‘OOO||
|Unrestricted funds|223|4,969|(685)|4,507|
|Total|223|4,969|(685)|4,507|
|Restricted funds|||||
|Ministries Department|-|4,878|(481)|4,397|
|Robert Davies Trust|-|337|34|371|
|Historical Society|-|-|8|8|
|Christian Aid|—|—|1|1|
|Mission Programme Fund|-|-|43|43|
|Moderators Fund|-|-|22|22|
|Davies Lecture Trust|-|83|22|105|
|Sale ofTheological College Fund|-|1,239|125|1,364|
|Sale ofChapels Fund|-|-|1,128|1,128|
|Coleg Y Bala|56|-|155|211|
|Coleg Trefeca|385|-|(84)|301|
|Howell Harris Museum|223|-|-|223|
|Candidates & Training Fund Charity|-|337|370|707|
|Welsh Calvinistic Methodist Assurance|-|-|40|40|
|Trust|||||
|Total|664|6,874|1,383|8,921|
|Total netassets (excluding pension|887|11,843|698|13,428|
|asset)|||||



## 

|tements. The majority offunds are managed by Ba|rclays Wealth and the total|funds held are:|
|---|---|---|
||2020|2019|
||£‘OOO|£‘OOO|
|Multi asset class investments|15,237|6,310|
|Higheryield bonds|1,095|1,095|
|Investment grade bonds|3,381|2,237|
|Cash and short maturity bonds|3,452|12,184|
|Debtorfrom Presbyterian Church ofWales|1,504|750|
|Cash held by Presbyterian Church ofWales|744|1,524|
|Total funds|25,413|24,100|





## 



## 

||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||||2019|
||£‘OOO|£‘OOO|£‘OOO|
|Income from generated funds:||||
|Ministry and mission contributions|2,308|-|2,308|
|Donations|45|69|114|
|Legacies|2|-|2|
|Grants|4|19|23|
|Income from investments|184|292|476|
|Income from charitable activities:||||
|Colleges and centres|-|125|125|
|Other income|923|5|928|
|Total|3,466|510|3,976|
|Expenditure on:||||
|Charitable activities:||||
|Ministers benefits|1,419|2,222|3,641|
|EcumenicalandPCWcontributions|536|356|892|
|Colleges and centres costs|107|422|529|
||2,062|3,000|5,062|
|Other|20|8|28|
|Total|2,082|3,008|5,090|
|Net income I (expenditure)|1,384|(2,498)|(1,114)|
|Netgains on investments|352|741|1,093|
|Net income I (expenditure)|1,736|(1,757)|(21)|
|Transfers between funds|(2,055)|2,055|-|
|Other recognised gains I (losses):||||
|Loss on disposaloffixedassets|(1)|—|(1)|
|Valuation ofheritage assets|-|8|8|
|Actuarialgain on definedpension<br>scheme|1,749|-|1,749|
|Net movement on funds|1,429|306|1,735|
|Reconciliation offunds:||||
|Total funds broughtforward|7,944|9,586|17,530|
|Total funds carried forward|9,373|9,892|19,265|