## **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| * St Basil’s income includes a Covid-19 business rates grant of £12,000 from Newport City Council 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| |||| * Expenses have been allocated in 2019 and 2020 such that this activity breaks even. ## **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