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2020-12-31-accounts

THE RECTORIAL BENEFICE OF BASSALEG

ANNUAL REPORT & ACCOUNTS Year ending 31[st] December 2020

On behalf of the Parochial Church Council

..........................................................

Christopher Stone - Chairman

THE RECTORIAL BENEFICE OF BASSALEG

ANNUAL REPORT AND ACCOUNTS OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020

The Rectorial Benefice of Bassaleg, consisting of the churches of St Basil Bassaleg, St John the Baptist Rogerstone and St Anne High Cross, is in the Deanery of Bassaleg and the Diocese of Monmouth in the Church in Wales.

Rector The Revd Christopher Stone

The Vicarage, 1 Church View, Bassaleg, Newport, NP10 8ND

Independent Auditor Mr S R Johns F.C.A., 21 St Andrews Crescent, Cardiff, CF10 3DB

Bankers The Co-operative Bank plc, 1 Balloon Street, Manchester, M60 4EP

It is the responsibility of both the Parochial Church Council and the Incumbent to work together and to co-operate in all matters of concern and importance to the parish for the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical in the parish.

Membership

During the year the following served as members of the Parochial Church Council:

Incumbent Team Vicar

The Revd Christopher Stone The Revd Canon Anne Golledge

Churchwardens

Alan Fox-Smith Lee Bartlett

Sub-Wardens

Gail Carey Gareth Jones Gail Peacock

Co-opted Members

Sheryll Jeffreys Secretary Ashley Rogers Buildings Officer Helen Antonelli Treasurer Kay Rogers Gift Aid Secretary

Helen Carey Safeguarding Officer

Elected Members

St Basil St John St Anne

David Sharp Suzanne Potts Rose Pugh Sarah Mulcahy Eleanor George Anna Crosby Paul Nicholls Ruth Price Haydn Jones Jeff Taylor Jenny Barton Jill Williams Anne Wright Michael Meredith Margaret Hayes Jane Harvey Keith Yendle

1

E RECTOIUAL BENEFICE OF BASSA EG INDF,PF.NDF.NT F,XAMINERS REPORT TO THE MEM13ER PAROCHL4L CHURCH COUNCIL FTHE l Tepon on the accounts of the Parochial Church Council of th¢ Rectorial Benefice of Bassaleg foT the year ended 31% December 2020, whi¢li are set out on the accompanyin8 pages. Re5pe¢tive responsibÉlities of Parochial Church Council and the Eyaminer Til¢ m¢tnbers of the Parocliial Church Council are T¢5pon5ible foi ptepaTing the Financsal Statements. You consider that an audit is not required for this year (under section 144121 of the ChOTities A¢t 2011 (the 2011 A¢t) and that an Inde￿ndent examinaiion is required It is my T¢$w>nsibility to.. exèmine the accounts under section 145 of the 2011 Act. to follow the proc¢duTe5 laid down in the G¢n¢Tal Dittclions given by the Charity Commission (under section Ix1515llb) of the ?01 l Act).. and to state whether particular matt¢TS hav¢ come to my attention. Ba515 of Independent Examiner s report My examination was t2rried oui in aetordance with ihe General Direclions given by tlie Charity Cornmission. An examination includes a review of the accounting records kept by the Parochial Church Council and 8 comparison of the Financial Statcrneiils pre5¢nt¢d with those records. It also includes consideration of 2ny unusual iiems or disclosures in the Financial Statements and seeking explanations from you as Parochial ChU￿h Council memters conceming any such mattets. The procedures undertaken do iiot provid¢ all the evidence that would bB Tequired an audit and consequently rto opinIon is given as to whether the accounts present 8 'lrue and fair view. and the report is limited to those matters set Out in the 8iatements below. Independent Examiner's stgtement In connection with Iny examination, no matter has come to my attention- {11 which give5 me reasonable cause to believe that ij) any material ]tspect the requireinertts tn keep xctniintin8 recnrdq in %ccnrdAnce with £ectian 110 af the 2011 Act. and to pr¢par¢ a¢¢ounts whi¢li accord with the accounting Tecords 2nd to comply with the accountin8 requirements of the 2011 ACL have not been met. or 12) to which. in tny opinion, att¢DtioD should b¢ drawn in order 10 enable a proper understtnding of the accounts to be reached. Ithdtpethd¢nt E%4nJin¢r P C Williams F.C.A. Chartcred Aeeount8nt 21 St Andrews Crescent Cardiff CFIO 3DB 31 March 2021

THE RECTORIAL BENEFICE OF BASSALEG BENEFICE OF BASSALEG BENEFICE OF BASSALEG
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
Notes Unrestricted Designated Restricte Endowmen Total Total
Funds Funds d t Funds Funds
2020 2020 Funds Funds 2020 2019
£ £ 2020 2020 £ £
£ £
INCOMING
RESOURCES
Voluntary Income
Planned giving & 2 53,379 - - - 53,379 69,391
church collections
Tax refunds 2 14,561 - - - 14,561 16,136
Donations 2,4,5 12,520 30 - - 12,550 7,062
Gift day (including gift 2 11,160 - - - 11,160 6,433
aid)
Grants - - - - - -
For the world-wide 2 494 - - - 494 2,115
church
Generated Funds
Money-raising 2,8 2,190 - - - 2,190 6,223
Hall/property 2,3 21,698 - - - 21,698 20,324
Investment Income 4 - 8,244 - - 8,244 10,217
Church Activities
Fees 2,6 1,252 - 2,889 - 4,141 5,758
117,254 8,274 2,889 - 128,417 143,659
RESOURCES
EXPENDED
Cost of generating
funds
Mission donations 2,9 (513) - - - (513) (2,945)
Parish share 2 (63,920) - - - (63,920) (87,536)
Maintenance of 2 (11,825) - - - (11,825) (18,144)
churches
Maintenance of 2 (5,365) - - - (5,365) (8,020)
services
Parochial expenses of
2		 (5,749) - - - (5,749) (6,211)
clerics
General parish 2,5,6 (6,511) (344) (8,664) - (15,519) (12,093)
expenses
Maintenance of 3 (7,583) - - - (7,583) (12,419)
halls/property
Capital expenditure 4 - - - - - (2,234)
(101,466) (344) (8,664) - (110,474) (149,602)
NET INCOMING
RESOURCES 15,788
7,930		 (5,775) - 17,943 (5,943)
Gains/(losses) on
investment assets 10 - - - 24,760 24,760 51,002
Transfer between 11 (5,775) - 5,775 - -
Funds
NET MOVEMENT IN
FUNDS £10,013 £7,930 - £24,760 £42,703 £45,059
RECONCILIATION
OF FUNDS:
Total Funds brought
forward 1 Jan 2020 11 58,410 22,212 308 407,832 £488,762 £443,703
Total Funds carried
forward 31 Dec 2020 11 £64,423 £30,142 £308 £432,592 £531,465 £488,762

3

THE RECTORIAL BENEFICE OF BASSALEG BALANCE SHEET AS AT 31 DECEMBER 2020

Notes
FIXED ASSETS
Investments
10
CURRENT ASSETS
Cash & bank balances
CREDITORS FALLING
DUE WITHIN ONE
YEAR
NET CURRENT
ASSETS
TOTAL ASSETS LESS
CURRENT
LIABILITIES
CREDITORS FALLING
DUE AFTER ONE
YEAR
TOTAL NET ASSETS
11
Capital funds
Permanent
endowments
Income funds
Restricted
11
Unrestricted:Ordinary
11
Designated
11
TOTAL FUNDS
11		 Unrestricted
Funds
£
Designated
Funds
£
Restricte
d
Funds
£
Endowmen
t
Funds
£
Total
Funds
2020
Total
Funds
2019
£
-
-
-
432,592
432,592
407,832
68,423
30,142
308
-
98,873
80,930
-
-
-
-
-
-
68,423
30,142
308
-
98,873
80,930
68,423
30,142
308
432,592
531,465
488,762
-
-
-
-
-
-
£64,423
£30,142
£308
£432,592
£531,465
£488,762
-
-
-
432,592
432,592
407,832
-
-
308
-
308
308
68,423
-
-
-
68,423
58,410
-
30,142
-
-
30,142
22,212
68,423
£30,142
£308
£432,592
£531,465
£488,762

In addition to the above funds, the Parish of Bassaleg owns St.Basil’s Church Hall, Bassaleg and St. Anne’s House, Rogerstone.

4

THE RECTORIAL BENEFICE OF BASSALEG NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

1. Accounting policies

These financial statements have been prepared in accordance with the Charities SORP (FRS102) and applicable accounting standards in the United Kingdom. The historical cost convention is used except for the valuation of certain fixed assets, whose valuation is detailed in note 1(a) below. The accruals basis of accounting has been adopted. The principal accounting policies are applied consistently.

(a) Assets Fixed assets

Churches, churchyards and vicarages are vested in the Representative Body of the Church in Wales and such property forms no part of the assets of the Parish. Moveable church contents are inalienable property and require a faculty for disposal. Many are historic for which no reliable cost or valuation bases exist. They are not recognised on the Balance Sheet nor listed, to prevent increased risk of theft and vandalism. Expenditure on churches (including contents), churchyards and vicarages is written off when incurred. Routine additions and replacements to church hall contents are charged to current expenditure.

Investment assets

These are stated at mid-market values on the balance sheet date.

(b) Funds Unrestricted funds

These are general funds which can be used for PCC ordinary purposes.

Designated funds

These are sums set aside out of general funds for specific designated purposes. They can be transferred back to unrestricted funds at any time.

Restricted

These represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.

Endowment funds

These are funds the capital of which must be maintained: only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established.

(c) Incoming resources

These are all accounted for gross. Planned giving, collections and donations are recognised when received. Tax refunds are recognised as soon as the amounts are claimable. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Investment income is accrued for and where the PCC has not invested separately for each fund, interest is apportioned to individual funds on an average balance basis. All other income is generally recognised when it is receivable.

(d) Outgoing resources

The 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 PCC. All other expenditure is generally recognised when it is incurred.

5

THE RECTORIAL BENEFICE OF BASSALEG NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

2. Parish of Bassaleg General Account

St Basil's St John's St Anne's Total Total
2020 2019
INCOME £ £ £ £ £
Offertories 31,028 14,672 7,679 53,379 69,391
Tax refunds 8,286 4,154 2,121 14,561 16,136
Donations 1,200 11,320 - 12,520 6,441
Gift day (including gift aid) 11,160 6,433
Mission collections 424 70 - 494 2,115
Church fees 1,144 - 108 1,252 3,847
Property income 5,592 2,400
Money-raising 2,190 6,223
Total Income 101,148 112,985
EXPENDITURE
Mission donations (513) (2,945)
Parish share (63,920) (87,536)
Maintenance of churches:
Heat, light & water
 (3,380) (1,287) (703) (5,370) (9,154)
Insurance
 (2,473) (890) (319) (3,682) (3,605)
Cleaning, repairs & servicing (1,102) (1,371) (300) (2,773) (5,385)
Maintenance of services:
Music (4,601) (4,921)
Wine, wafers & candles (204) (1,569)
Other expenses (560) (1,530)
Parochial expenses of clerics (5,749) (6,211)
General parish expenses (6,511) (4,851)
Total Expenditure (93,883) (127,707)
Surplus/(shortfall) for year £7,265 £(14,722)

3. Church Hall Accounts

INCOME
Lettings & sundry income
Total Income
EXPENDITURE
Heat, light & water
Insurance
Cleaning & repairs
Other hall expenses
Total Expenditure
Surplus/(shortfall) for year*		 St Basil's
St John's
St Anne's
Total
2020
Total
2019
£
£
£
£
£
13,028
-
3,078 16,106
17,924
13,028
-
3,078
16,106
17,924
(1,136)
(213)
(1,400)
(2,749)
(3,408)
(857) (308)
(968)
(2,133)
(5,853)
(1,200)
-
(997)
(2,197)
(2,493)
(504)
-
-
(504)
(665)
(3,697)
(521)
(3,365)
(7,583)
(12,419)
£9,331
£(521)
£(287)
£8,523
£5,505

6

THE RECTORIAL BENEFICE OF BASSALEG NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

4. Fabric & Development Fund

INCOME
Donations and VAT reclaim
Interest
Total Income
EXPENDITURE
St Basil’s Church
Total Expenditure
Surplus/(shortfall) for year		 Total
2020
Total
2019
£
£
-
95
8,244
10,217
8,244
10,312
(294)
(2,234)
(294)
(2,234)
£7,950
£8,078

5. St. Basil’s Bell Fund

INCOME
Donations
Total Income
EXPENDITURE
Surplus/(shortfall) for year
6. Churchyard Fund
INCOME
Fees
Total Income
EXPENDITURE
Grass cutting & tree felling
Sundry expenses
Total Expenditure
Surplus/(shortfall) for year		 Total
2020
Total
2019
£
£
30
526
30
526
(50)
(42)
£(20)
£484
Total
2020
Total
2019
£
£
2,889
1,912
2,889
1,912
(8,664)
(7,020)
-
(180)
(8,664)
(7,200)
£(5,775)
£(5,288)

7

THE RECTORIAL BENEFICE OF BASSALEG NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

7. Charity Accounts

Taylor Charity

Taylor Charity
Balance carried forward
Note:The capital of this fund is not expendable.
8. Money-raising events
St Basil’s Christmas raffle & quiz
Ladies of Tredegar event
Fish and chips supper
Parish musical evening
Parish evening with J Brewer
Coffee mornings
Knit and Natter
JustGiving campaign (including gift aid)
Bassaleg School concert (shared)
Sale of lavender bags
Jam jar collections
Church magazine
Total*		 Total
2020
Total
2019
£308
£308
Total
2020
Total
2019
£
£
-
2,220
-
185
315
-
- 277
-
440
150
976
65
-
1,225
-
-
467
-
123
435
1,535
-
-
£2,190
£6,223

9. Parish of Bassaleg mission donations

Bishop’s Mission Fund
Christian Aid
Archbishop of Wales Fund For Children
Friends of the Cathedral
Sightsavers
RBL Poppy Appeal
The Raven House Trust
St David’s Foundation
Total		 Total
2020
Total
2019
£
£
423
-
-
1,455
-
600
20
20
-
150
-
250
70
150
-
320
£513
£2,945

8

THE RECTORIAL BENEFICE OF BASSALEG NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

10. Fixed asset investments

Market value at 1 January
Net gains/(losses) on revaluation
Market value at 31 December		 Total
2020
Total
2019
£
£
407,832
356,830
24,760
51,002
£432,592
£407,832

This investment relates to 204,294 Church in Wales Common Investment Fund Shares. Interest is received on these shares but access to the capital of the funds is restricted.

11. Movement on funds

Unrestricted funds
Parish of Bassaleg General
Account
St. Basil’s Church Hall
St. John’s Church Hall
St. Anne’s Church Hall
Total
Designated funds
Fabric & Development Fund
St. Basil’s Bell Fund
Total
Restricted funds
Churchyard Fund
Charity Funds
Total
Endowment funds
Church in Wales CIF shares
Total		 Balance
1 Jan 2020
Income
Expenditure
Transfer
between funds
Balance
31 Dec 2020
£
£
£
£
£
-
101,148
(93,883)
(6,296)
969
34,155
13,028
(3,697)
-
43,486
-
-
(521)
521
-
24,255
3,078
(3,365) -
23,968
£58,410
£117,254
£(101,466)
£(5,775)
£68,423
15,222
8,244
(294)
-
23,172
6,990
30
(50)
-
6,970
£22,212
£8,274
£(344)
-
£30,142
-
2,889
(8,664)
5,775
-
308
-
-
-
308
£308
£2,889
£(8,664)
£5,775
£308
407,832
24,760
-
-
432,592
£407,832
£24,760
-
-
£432,592

9