#
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|||Page|
|---|---|---|
|Trustees, officers and advisers|||
|Annual
Report ofthe trustees|||
|Statement of Trustees'
Responsibilities||14|
|Independent
Auditors'
report||15|
|Consolidated
Statement
of Financial|Activities|18|
|Consolidated
and Parent Charity Balance Sheets||19|
|Consolidated
Cash Flow Statement||20|
|Notes to the financial statements||21|
##
##
##
|The trustees,
who served
d
financial statements,
are as|uring
the year to 31 December 2021, and up to t
follows:|uring
the year to 31 December 2021, and up to t
follows:|he date of approval|he date of approval|
|---|---|---|---|---|
|Mr Idris 0Hughes|Chair ofthe Resources
Department
and Properties||Board and||
||Deputy Chair ofTrustees —retired 26 July 2021||||
|Mrs Kathryn
Morris|Treasurer ofthe Association
in the South||||
|Rev Brian H Jones|Chair ofthe Ministries
Department
and||||
||Chair ofTrustees||||
|Rev Michael Ward|Clerk ofthe Association
in the East —retired|9 November 2021|||
|Rev Elwyn Richards|Clerk ofthe Association
in the North||||
|Mr Hywyn
Pritchard
Rev J Paul Morgan|Treasurer ofthe General Assembly
Treasurer ofthe Association
in the East||||
|Rev Marcus Robinson|Moderator ofGeneral Assembly
retired —21|September||2021|
|Mr Dewi Lewis-Jones|Treasurer ofthe Association
in the North||||
|Rev T Evan Morgan|Moderator ofGeneral Assembly —appointed|21 September 2021|||
|Mr Stephen
Wynn|Chair ofthe Resources
Department
and Properties||Board —appointed||
|Mr lan Hayward|26 July 2021
Clerk ofthe Association
in the East- appointed
9||November 2021||
|Mr Anthony
Platt|Clerk ofthe Association
in the South —appointed
29 July 2021||||
|Mr Cliff Williams|Co-opted||||
|Rev Dafydd Andrew Jones|Co-opted past Moderator and Clerk ofthe Association|||in the South|
||retired 3August. 2021||||
|Rev Brian Matthews|Co-opted past Moderator —retired 3August|2021|||
|Rev Neil Kirkham|Co-opted past Moderator —retired 3August|2021|||
|Rev Trefor Lewis|Co-opted past Moderator —retired 3August|2021|||
|Rev Robert Roberts|Co-opted past Moderator —retired 3August|2021|||
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|nnual
|R|eport|ofthe T|rustees|||||
|---|---|---|---|---|---|---|---|---|
||||||Coleg YBala|Coleg Trefecs|Candidates|snd|
||||||||Training||
||||||||DepartmentFund||
||||||Year Ended|Year ended|Year ended||
||||||31December 2021|31December 2021|31December|2021|
||||||6'000|5'000||6'000|
|Income|||||||||
|From Presbyterian|||Church ofWales||97|||92|
|Charitable|Activities||(ind coume fees)||7||||
|Investment|income||snd interest||2|||12|
|Other (incl|grants and furlough|||reclaims)|38|||13|
||||||144|107||117|
|Expenditum|||||||||
|Salaries end||wages|||48|46||47|
|Other|||||81|111||55|
||||||129|157||112|
|Surplus I(Deficit)||||||(50)|||
||||||Coleg YBala|Coleg Trefecs|Candidates|and|
||||||||Training||
||||||||Department|Fund|
||||||31 December 2021|31December 2021|31December|2021|
||||||5'000|5'000||5'000|
|Tangible
Fixed Assets|||||28|329|||
|Heritage Assets||||||241|||
|Investments||||||||367|
|Fixed Assets|||||28|570||367|
|Net Current||Assets/(Liabilities)|||198|(78)||374|
||||||226|492||741|
|Unrestncted||Funds|||226|251||741|
|Restricted|Funds|||||241|||
|Total Funds|||||226|492||741|
##
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##
##
##
|summary|ofthe main categories of income is show|n
below:||
|---|---|---|---|
|||6'000|'/o|
|Ministry snd Mission Contributions||2,049|50.1|
|Donations,|legacies ahd grants|99|2.4|
|Investment|income and interest|413|10.1|
|Income from Colleges and Centres||28|0.7|
|Other||1,498|36.7|
|Total||4,087|100|
##
|summar|y|ofthe main categories ofexpenditure
an|d their percentage
ofthe total is|as follows:|
|---|---|---|---|---|
||||5'000||
|Ministry|benefits||3,916|78.0|
|Ecumenical||and PCW contributions|685|13.7|
|Colleges|and centres Costs||385|7.7|
|Other|||32|0.6|
|Total|||5,018|100|
##
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##
|anagers.
The benchmark
is base|d on mid points ofasset allocation
parameters.||
|---|---|---|
||Asset Allocation|Benchmark|
||Parameters||
|UK Equities|75% - 85%(70% —80%)|80%(75%)|
|Fixed Interest|15% —25%(15%- 25%)|20%(20%)|
|Cash|0% - 5% (0% - 10%)|0%(5%)|
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|for the year ended 3|1 Decem|ber 2|021|||||
|---|---|---|---|---|---|---|---|
|||Note|Unrestricted||Restricted|Total|Total|
||||funds||funds|funds|funds|
|||||||2021|2020|
||||6'000||6'000|6'000|6'000|
|Income from generated|funds:|||||||
|Ministry
and mission
contributions|||2,049|||2,049|2,183|
|Donations|||44||25|69|73|
|Legacies||||||||
|Grants|||||26||92|
|Income from investments|||178||235|413||
|Income from charitable|activities:|||||||
|Colleges and centres|||||28|28|26|
|Other income|||1,231||267|1,498|1,624|
|Total|||3,506||581|4,087||
|Expenditure
on:||||||||
|Charitable
activities.||||||||
|Ministry benefits||6|3,256||660|3,916|3,531|
|Ecumenical and PCW contributions||7|460||225|685|677|
|Co//egos
and centres costs|||93||292|385|438|
||||3,809||1,177|4,986|4,646|
|Other|||24||8|32|38|
|Total|||3,833||1,1I85|5,018|4,684|
|Net income
/ (expenditure)|||(327)||(604)|(931)|(340)|
|Net gains
/ (losses) on investments||12|562||594|1,156|(835)|
|Net income I(expenditure)|||235||(10)|225|(1,175)|
|Transfers
between
funds|||(116)||116|||
|Other recognised
gains
/|{losses):|||||||
|Loss on disposal offixed|assets|||||||
|Valuation ofhen'/age
assets||||||18||
|Actuarial (lossjlgain
on defined
bener/ pension scheme|||1,774|||1,774|(1,241)|
|Net movement
on funds|||1,893||124|2,017|(2,416)|
|Reconciliation
offunds:||||||||
|Total funds brought
forward|||7,928||8,921|16,849|19,265|
|Total funds carried forward|||9,821||9,045|18,866|16,849|
|The statement
offinancial activities incorporates|||the statement|of|comprehensive|income.||
##
|onsolidated|an|d|Parent|Charity|Balance Shee|ts as at|31 December|2021|
|---|---|---|---|---|---|---|---|---|
||||||Group||Charity||
|||||Note|2021
6'000|2020
6'000|2021
8'000|2020
8'000|
|Fixed asseis|||||||||
|Tangible fixed assets||||10|581|664|224|222|
|Heritage assets||||11|241|223|||
|Investments||||12|12,999|11,843|12,632|11,506|
||||||13,821|12,730|12,856|11,728|
|Current assets|||||||||
|Stock||||13|||||
|Debtors||||14|2,123|2,064|2,333|2,268|
|Short term deposits|||||264|229|12|12|
|Cash at bank and in||hand|||778|473|382|48|
||||||3,171|2,772|2,727|2,328|
|Creditors: amounts||falling due|||||||
|within one year||||15|629|570|720|606|
|Net cunent assets|||||2,642|2,202|2,007|1,722|
|Creditors: amounts
falling due
after more than
1 year||||15|(2,256)|(1,504)|(2,256)|(1,504)|
|Net assets excluding|||pension||||||
|scheme asset|||||14,107|13~28|12,607|11,948|
|Pension scheme|surplus|||9|4,759|3,421|4,759|3,421|
|Net assets|||||18,866|16,849|17,366|18.367|
|Funds|||||||||
|Unrestricted||||16|5,062|4,507|5,062|4,507|
|Pension reserve|||||4,759|3,421|4,759|3,421|
||||||9,821|7,928|9,821|7,928|
|Restricted||||17|9,045|8,921|7,545|7,439|
|Total funds|||||18,866|18,849|17,366|16,367|
##
|||||||Note|||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||8'000|8'000|
|Reconciliation
ofnet expenditure||||to net cash|||||
|generated
from /(used
by)|||||||||
|Net (expenditure)|||||||(931)|(340)|
|Adlustments
for:|||||||||
|Investment
income||||||3|(413)|(346)|
|Pension
Fund||||||9|436|59|
|Depreciation
charges||||||10|96|97|
|Aijd:|||||||||
|(Increase)
in stocks||||||13|||
|Decrease
/ (increase)|in||debtors|||14|(59)|41|
|Increase in creditors||||||15|811|628|
|Net cash generated
from/(used
activities||||by) operating|||(60)|139|
|Statement ofcash flows|||||||||
|Cash flows from operating|||activities||||||
|Net cash generated
from/|(used by)|||operating|activities||(60)|139|
|Cash flows from investing|||activities:||||||
|Interest from investments|||||||413|346|
|Purchase of investments|||||||(1,052)|(1,252)|
|Proceeds from sale ofinvestments|||||||1,052|1,252|
|Proceeds from sale offixed|||assets||||||
|Purchase of property,
plant||and equipment||||||(12)|
|Net cash provided
by investing
activities|||||||400|334|
|Change
in cash and cash||equivalents|||||340|473|
|Cash &cash equivalents|at||1 January||||702|229|
|Cash &cash equivalents||at 31December|||||1,042|702|
|Cash equivalents
atthe|year end|||comprise:|||||
|Short term deposits|||||||264|229|
|Cash at bank and
in hand|||||||778|473|
|Cash &cash equivalents||at 31December|||||1,042|702|
##
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|2.|Results ofConnected|Charities *|||
|---|---|---|---|---|
||(*excludes grant received from the|Church)|2021|2020|
||||6'000|8'000|
||Incoming
resources||||
||Course fees||27|25|
||Shop sales|||1|
||Donations,
grants and legacies||40|59|
||Investment
income||14|12|
||HMRC Furlough
reclaims||49|69|
||Sundry
income||4||
||Total incoming
resources||134|166|
||Resources Expended||||
||Charitable
activities||393|433|
||Other||5|5|
||Total resources expended||398|438|
||Net outgoing
resources||(264)|(272)|
##
##
||||Group|||Charity||
|---|---|---|---|---|---|---|---|
|||2021||2020|2021||2020|
|||8'000||6'000|f000||6'000|
|Investment|Income|||||||
|Unit Trusts||16||37|15||36|
|Fixed Interest and cash||22||54|21||52|
|Equities||304||191|294||184|
|Investment|Property|71||64|71||64|
|||413|||401||336|
##
|Other|Income|||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Tots I|Total|
|||funds|funds|funds|funds|
|||||2021|2020|
|||5'000|6'000|6'000|6'000|
|Bank interest|||2|2|3|
|Loan interest receivable||29||29|27|
|HMRC furlough|reclaim|75|245|320|441|
|Profit on sales|of chapels and menses|1,072||1,076|1,039|
|Sundry income|||16|24|15|
|Pension - interest||47||47|gg|
|Total —Group||1231|267|1898|1,624|
|||Staffcosts|Other|Total|Total|
|---|---|---|---|---|---|
|||6'000|costs|2021|2020|
||||6'000|6'000|6'000|
|Ministry benefits||3,625|291|3,916|3,531|
|Ecumenical|and PCW contributions|180|505|665|677|
|College and|centre costs|52|47|gg|96|
|Other|||32|32|38|
|Total Charity||3,857|875|4,732|4,342|
|College and|centre costs|93|193||342|
|Total Group||3,950|1,068|5,018|4,684|
|Staffcosts||||||
|Stipends, wages and salanes||||2,664|2,614|
|Social security costs||||225|221|
|Pension costs||||1,061|735|
|||||3,950|3,570|
##
|The total number ofemployees|by function was:|2021|2020|
|---|---|---|---|
|||Number|Number|
|Ministers —full time||40|40|
|Ministers —part time||8|8|
|Field workers||45|43|
|Colleges and centres||7|8|
|Administration||21|21|
|||121|120|
##
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##
##
|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|2021|2020|
|||||6'000|6'000|6'000|5'000|
|Stipends|and|salaries||1,650|631|2,281|2,236|
|Pastoral|expenses||||||4|
|Support|costs|(note 8)||513|29|542|526|
|||||2,163|660|2,823|2,765|
|Pension|costs:|||||||
|Contributions||paid||578||578|577|
|Current|service||pension costs|483||483|158|
|Pension|audit|||32||32|30|
|||||1,093||1,093|765|
|Total ministers|||benefits|3,256|660|3,915|3,531|
##
|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|2021|2020|
|||||5'000|5'000|6'000|6'000|
|International||||2||2|30|
|Wales/UK||||81|20|101|112|
|Ministers,
workers, candidates,
Presbyterian
and local churches|||Association,|51|186|237|200|
|Support costs (note 8)||||326|19||335|
|||||460|225|685|577|
##
##
|Support co|sts||||||
|---|---|---|---|---|---|---|
|||Ministry|Allocation of|College|||
|||Benefits|Ecumenical|and|Total|Total|
||||and PCW|Centre|2021|2020|
|||6'000|Contributions|costa|rf000|8'000|
||||K'000|6'000|||
|Salaries &wages||283|180|52|515|500|
|Travelling
&subsistence||23|14|4|41|26|
|Utility costs||19|12|3|34|30|
|Property
&general insurances||20|13|4|37|37|
|Printing
&stationery||19|13|4|36|59|
|Postage &telephone||19|12||35|30|
|Repairs, maintenance|8||||12|15|
|improvements|||||||
|Leasing charges||17||3|31|24|
|Equipment
&materials||17|11|3|31|26|
|Legal & professional|charges|77|49|14|140|104|
|Audit fees||21|13|4|38|50|
|Depreciation||6||1|11|11|
|Advertising
& publicity||1|||1|1|
|Course fees||1|||1|1|
|Bad debt charge||12|||22|35|
|Publishing
costs|||||1|8|
|||642|345|99|9SS|967|
##
##
##
|e principal
a|ctu|ar|ial
assumptions
u|sed to calculate Scheme liabilities are|sed to calculate Scheme liabilities are|:|||
|---|---|---|---|---|---|---|---|---|
|||||31December||||31December|
||||||2021|||2020|
|Discount rate|||||1.80%|||1.30%|
|Inflation: RPI|||||3.65%|||320%|
|Inflation: CPI|||||3.20%|||2.70%|
|Pension increases|||in payment:||||||
|Discretionary|increase||||0.00%|||P PP%|
|CPI capped at5.0%per annum|||||3 10%|||260%|
|CPI capped at2.5%per annum|||||2 20%|||2.00%|
|Salary Increases|||||3.70%|||3.20%|
|Retirements||||All members|retire at National|Retirement||Age (NRA)|
|||||2021 95%ofthe|S2PA tables with|the|CMI|2017pmjections|
|Post retirement||mortality||using a long-term
202095%ofthe|rate ofimprovement
S2PA tables with the||of1.25%psr annum.
CMI 2015prolections||
|||||using a long-term|rate ofimprovement||of1.25%per annum.||
##
##
|e major cat|egories ofassets as a percen|tage
oftotal assets are as follows:||
|---|---|---|---|
|||31 December|31 December|
|||2021|2020|
|Equities||32%|32%|
|Other assets||6%|4%|
|Index-linked|gilts|31%|29%|
|Corporate bonds||29%|32%|
|Cash||2%|3%|
|Total||100%|100%|
##
|Amounts
Recognised|in the Balance|She|et|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||6'000|6'000|
|Fair value ofplan assets||||32,600|31,657|
|Present value offunded|obligations|||(27,841)|(28,236)|
|Surplus||||4,759|3,421|
|Amounts
Recognised|in the Summary|of|Financial|Activities over the year||
|||||2021|2020|
|||||6'000|6'000|
|Current service cost||||804|573|
|Administrative
costs||||114|121|
|Interest on liabilities||||361|469|
|Interest on assets||||(408)|(568)|
|Past service cost||||139|34|
|Total||||1,010|629|
|Remeasurements
over|the year|||||
|||||2021|2020|
|||||6'000|6'000|
|Loss / (gain) on scheme|assets in excess|of interest||(1,019)|(2,914)|
|Experience losses / (gains) on liabilities||||||
|(Losses) / gains from changes to demographic|||assumptions|||
|(Losses) / gains from changes to financial||assumptions||(755)|4,155|
|Total||||(1,774)|1,241|
##
##
|The change
in assets over the year was:||||
|---|---|---|---|
|||2021|2020|
|||6'000|6'000|
|Fair value ofassets at the beginning
ofthe year||31,657|28,624|
|Interest on assets||408|568|
|Employer contributions||574|570|
|Contributions
by Scheme partiopants||161|159|
|Benefits paid (net ofexpenses)||(1,105)|(1,057)|
|Administration
costs||(114)|(121)|
|Return on assets less interest||1,019|2,914|
|Fair value ofassets at the end ofthe year||32,600|31,667|
|Actual return on scheme assets f1,427,000(2020:E3,482,000)||||
|The change
in defined
benefit liabilities over the year was:||||
|||2021|2020|
|||6'000|6'000|
|Defined benefit liabilities at the beginning|ofthe year|28,236|23,903|
|Current service cost||804|573|
|Contributions
by Scheme participants||161|159|
|Past service cost||139|34|
|Interest cost||361|469|
|Benefits paid (net ofexpenses)||(1,105)|(1,057)|
|Experience (gain) Iloss on liabilities||||
|Changes to demographic
assumptions||||
|Changes to financial assumptions||(755)|4,155|
|Defined benefit liabilities at the end ofthe|year|27,841|28,236|
##
##
|0.
Tangible fixed asse|ts|||||
|---|---|---|---|---|---|
||||Computer|||
||||equlpmenu|||
||Motor|Land and|fixtures snd|Property||
|Group|vehicles
8'000|buildings
6'000|fittings
6'000|improvements
6'000|Total
f'000|
|Cost/valuation||||||
|At 1 January 2021|13|219|526|1,384|2, 142|
|Additions||13|||13|
|At 31 December 2021|13|232|526|1,384|2,155|
|Accumulated
Depreciation||||||
|At 1 January 2021|13|12|389|1,064|1,478|
|Charge for the year||5|23|68|96|
|At 31 December 2021|13|17|412|1,132|1,574|
|Net book value||||||
|At 31December 2021||215|114|252|581|
|At 31 December 2020||207|137|320|664|
|Charity||||||
|Cost/valuation||||||
|At 1 January 2021||219|||312|
|Disposals||||||
|Additions||13|||13|
|At 31 December 2021||232|93||325|
|Accumulated
Depreciation||||||
|At 1 January 2021||12|78||90|
|Charge for the year||5|6||11|
|At 31 December 2021||17|||101|
|Net book value||||||
|At 31December 2021||215|||224|
|At 31 December 2020||207|15||222|
##
|2021|2020|
|---|---|
|8'000|6'000|
|241|223|
##
|||Gmup||Charity||
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||6'000|6'000|6'000|6'000|
|At 1 January||11,843|12,678|11,506|12,309|
|Transfer fmm fixed assets||||||
|Additions||1,052|1,252|1,016|1,209|
|Disposals||(1,052)|(1,252)|(1,016)|(1,209)|
|(Losses) / Gains on investments||1,156|(835)|1,126|(803)|
|At 31December||12,aaa|11,843|12,632|11,506|
|Cost at 31 December||9,838|9,709|a,604|9,379|
|Investment|property|2,138|1,846|2,138|1,846|
|Unit trusts||1,286|1,286|1,242|1,242|
|UK Fixed interest securities||1,164|1,717|1,124|1,659|
|UK Equities||7,557|6,812|7,303|6,583|
|International|Fixed interest securities|406||392||
|International|Equities|127||123||
|Investment|Company|108||104||
|Cash||213|182|206|176|
|Market value ofinvestments||12,999|11,843|12,632|11,506|
##
##
|.|Stock||||||
|---|---|---|---|---|---|---|
||||Group||Charity||
||||2021|2020|2021|2020|
||||E'000|E'000|E'000|E'000|
|Goods|for resale and|consumables|||||
|.|Debtors||||||
||||Group||Charity||
||||2021|2020|2021|2020|
||||E.'000|E'000|E'000|E'000|
|Debtors less than one year:|||||||
|Ministry
and mission||contributions|220|244|220|244|
|Loans|and mortgages||195|123|196|123|
|Other|debtors and prepayments||802|672|1,012|876|
||||1,218|1,039|1,428|1,243|
|Debtors more than||one year.|||||
|Loans|and mortgages||905|1,025|905|1,025|
||||2i123|2,064|2,333|2,268|
##
##
##
|||||Group|||Charity||
|---|---|---|---|---|---|---|---|---|
||||2021||2020|2021||2020|
||||E'000||E'000|E'000||E'000|
|Loan from the Properties
Presbyterian
Church of||Board ofthe
Wales|2,255||1,504|2,256||1,504|
||||2,256||1,504|2,256||1,504|
##
##
|6.
Movo|mont
in|Unrestricted
Fu|nds|||||
|---|---|---|---|---|---|---|---|
|||At|Income|Expenditure|Gains/|Transfers|At 31|
|||1January
2021 6'000|6'000|2'000|(losses)
KOOO|6000|December
2021 KOOO|
|Unrestricted|Funds|4,507|3,459|(3,350)|562|(116)|5,062|
|Pension Reserve||3,421|47|(483)|1,774||4,759|
|Total Group
Charity|and|7,928|3,606|(3,833)|562|(116)|9,821|
##
|||At|Income|Expenditure|Gains/|Transfem|At 31|
|---|---|---|---|---|---|---|---|
|||1January
20206'000|2'000|6'000|(losses)
6000|6000|December
20206000|
|Unrestricted|Funds|4,652|3,551|(3,356)|(183)|(157)|4,507|
|Pension
Reserve||4,721|gg|(155&|(1,241)||3,421|
|Total Group
Charity|and|9,373|3)650|(3i514)|(1 424)|(157)|7928|
##
|||At|Income|Expenditure|Gains/|Transfers|At 31|
|---|---|---|---|---|---|---|---|
|||1 January
2021|6'000|2'000|(losses)
6000|6000|December
2021|
|||K'000|||||6000|
|Ministries
Department||4,397|388|(712)|422|(122)|4,373|
|Robert Davies Trust||371|||29||400|
|Historical Society||8||(3)|||7|
|Christian
Aid||1|||||1|
|Mission
Programme|Fund|43|10|(71)||50|32|
|Modemtors
Fund||22||||(3)|19|
|Davies Lecture Trust||105|||||114|
|Sale ofTheological
College Fund||1,354|||107||1,471|
|Sale ofChapels Fund||1,128|||||1,128|
|Total Charity||7,439|403|(787)||(75)||
|Coleg y Bala||211|47|(129)||97|226|
|Coleg Trefeca||301|63|(157)||44|251|
|Howell Harris Museum
and Artefacts||223|||18||241|
|Candidates
and Training
Department
Fund||707|67|(112)|29|50|741|
|Welsh Calvinistic||||||||
|Methodist Assurance||40|||||41|
|Trust||||||||
|||1,482|178|(398)|47|191|1,500|
|Total Group||8,921|581|(1,185)|612|116|9,045|
##
##
|||At|Income|Expenditure|Gains/|Transfers|At 31|
|---|---|---|---|---|---|---|---|
|||1January
2020|6'000|6'000|(losses)
KOOO||December
2020|
|||6'000|||||6000|
|Ministries
Department||5,191|423|(657)|(464)|(96)|4,397|
|Robert Davies Trust||403|||(32)||371|
|Historical Society||6|||||8|
|Christian
Aid||1|||||1|
|Mission Programme|Fund|19|64|(65)||25|43|
|Moderators
Fund||24||(2)|||22|
|Davies Lecture Trust||116||(8)|(6)||105|
|Sale ofTheological
College Fund||1,482|||(118)||1,364|
|Sale ofChapels
Fund||1,128|||||1,128|
|Total Charity||8,370|492|(733)|(620)|(71)|7,439|
|Coleg y Bala||192|73|(146)||92|211|
|Coleg Trefeca||344|66|(195)||66|301|
|Howell Harris Museum
and Artefacts||223|||||223|
|Candidates
and Training
Department
Fund||723|63|(97)|(32)|50|707|
|Welsh Calvinistic||||||||
|Methodist Assurance||40|||||40|
|Trust||||||||
|||1,522|202|(438)|(32)|228|1,482|
|Total Group||9,892|694|(1,170)|(652)|157|8,921|
##
##
|8.
Analysis
o|f|Grou|p Net As|sets||||
|---|---|---|---|---|---|---|---|
|||||Tangible and|||At 31|
|||||heritage fixed||Other net|December|
|||||assets|Investments|assets I|2021|
|||||6'000|6'000|(liabilities)|6'000|
|||||||6'000||
|Unrestricted
funds||||224|5,530|(692)|5,062|
|Total||||224|5,530|(692)|6,062|
|Restricted funds||||||||
|Ministriss
Department|||||5,300|(927)|4,373|
|Robert Device Trust|||||366|34|400|
|Historical Society||||||7|7|
|Christian
Aid||||||1|1|
|Mission Programme|Fund|||||32|32|
|Moderators
Fund||||||19|19|
|Davies Lecture Trust|||||90|24|114|
|Sale ofTheological College|||Fund||1,346|125|1,471|
|Sale ofChapels
Fund||||||1,128|1,128|
|Coleg Y Bala||||28||198|226|
|Coleg Trefeca||||329||(78)|251|
|Howell Harris Museum||||241|||241|
|Candidates 6Training||Fund|Charity||367|374|741|
|Welsh Calvinistic
Methodist
Trust|||Assurance|||41|41|
|Total|||||7,469|978|9,045|
|Total net assets (excluding
asset)|||pension|822|12,999|286|14,107|
##
|otes to the fina|n|cial|statemen|ts
for the ye|ar ended 31 D|ecember 202|1|
|---|---|---|---|---|---|---|---|
|Prior year||||||||
|||||Tangible and|||At 31|
|||||heritage fixed||Other net|December|
|||||assets|Investments|assets I|2020|
|||||6'000|5'000|(liabilities)|5'000|
|||||||6'000||
|Unrestricted
funds||||223|4,969|(655)|4,507|
|Total||||223|4,666|(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|2|
|Davies Lecture Trust|||||83|22|105|
|Sale ofTheological College|||Fund||1,239|125|1,364|
|Sale of Chapels
Fund||||||1,128|1,125|
|Coleg YBala||||56||155|211|
|Coleg Trefeca||||385||(84)|301|
|Howell Hams Museum||||223|||223|
|Candidates
&Training||Fund|Charity||337|370|707|
|Welsh Calvinistic
Methodist|||Assurance|||40|40|
|Trust||||||||
|Totsi|||||6,874|1,383|8,621|
|Total net assets (excluding
asset)|||pension|887|11,843|698|13,428|
##
|tements.
The majority||offunds are managed
by Ba|rclays Wealth and the total|funds held are:|
|---|---|---|---|---|
||||2021|2020|
||||6'000|6'000|
|Multi asset class investments|||16,447|15,237|
|Higher yield bonds|||1,018|1,095|
|Investment
grade bonds|||3,268|3,351|
|Cash and short mstunty|bonds||3,698||
|Debtor from Presbyterian||Church ofWales|2,256|1,504|
|Cash held by Presbyterian||Church ofWales|1,061|744|
|Totalfunds|||27,748|25,413|
##
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||||2020|
|||6'000|6'000|6'000|
|Income from generated|funds:||||
|Ministry
and mission
contributions||2,183||2,183|
|Donations||41|32|73|
|Legaaas|||||
|Grants|||88|92|
|Income from investments||152|||
|Income from charitable|activities:||||
|Colleges and centres|||26|26|
|Other income||1,270|354|1,524|
|Total||3,650|694|4,344|
|Expenditure
on:|||||
|Charitable
activities:|||||
|Mini sters bene)Its||2,920|611|3,531|
|Ecumenical and PCW conlribuiions||482|195|677|
|Colleges and centres costs||91|347|438|
|||3,493|1,153|4,846|
|Other||21|17|38|
|Total||3,514|1,170|4,684|
|Net income I(expenditure)||136|(476)|(340)|
|Net gains i(losses) on investments||(183)|(652)|(835)|
|Net income I (expenditure)||(47)|(1,128)|(1,175)|
|Transfers between
funds||(157)|157||
|Other recognised
gains i|(losses):||||
|Loss on disposal offixed|assets||||
|Va/uation
ofheritage assets|||||
|Actuan'ai gain on defined
scheme|pension|(1,241)||(1,241)|
|Net movement
on funds||(1,446)|(9'71)|(2,416)|
|Reconciliation offunds:|||||
|Total funds brought
forward||9,373|9,892|19,255|
|Total funds carried forward||7,928|8,921|16,849|