OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Registered charity number: 1134392

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2021

FOR THE RECTORIAL BENEFICE OF BARRY

RECTORIAL BENEFICE OF BARRY

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2021

Page
Report of the Trustees 1 – 2
Independent Examiner’s Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 - 11

RECTORIAL BENEFICE OF BARRY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31[ST] DECEMBER 2021

The members of the Benefice Council, who are also trustees of the charity, present their report with the financial statements of the charity for the year ended 31[st] December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) and the Church in Wales Accounting Regulations.

Reference and Administrative Details

Registered Charity Number: 1134392

Registered Office

All Saints Church Hall Park Road BARRY CF62 6NU

Trustees

Helena Coombes Wendy Cook Mary Morris Bethan John Kay Charles Rev Emma Ackland Re Zoe King Rev Daniel Barnes-Davies Susan Borges Rowena Hughes Caroline Dodd John Keith Williams Rev Robert Parrish William Peter Atkins Christopher Chaulk Martin Evans

Independent Examiner

Peter Chaffey FCCA Naunton Jones Le Masurier Chartered Certified Accountants 12 York Place Barry Vale of Glamorgan CF62 7ED

1

Structure, Governance and Management

Governing Document

The Church in Wales is a Province within the Anglican Communion and seeks to advance the Christian religion through world-wide mission.

The Rectorial Benefice of Barry is part of the Diocese of Llandaff and includes the churches of- All Saints’ Barry, St Marys’ St Cadocs’ and St Dyfan & St Teilo’s Merthyr Dyfan.

Induction and Training of New Trustees

There is no formal induction training, trustees are already members of the church and are aware of the goals and aims of the church. Their roles and responsibilities are communicated verbally and through the uses of leaflets from the Charity Commission.

Objectives and Activities

The objectives and aims of the charity are the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical throughout the Benefice. It is the responsibility of the PCC and Incumbents to work together and co-operate in all matters of concern and importance to the Benefice for the promotion of the objectives and aims.

Public Benefit

As required by the Charities Act 2011, the PCC has given due regard to guidance published by the Charity Commission in respect of the operation of the public benefit requirement. The activities undertaken to the PCC’s purposes for the public benefit are detailed below.

Financial Review

Reserves Policy

The trustees believe it prudent to keep sufficient reserves for the following reasons:-

Over the past twelve months the total general income of the Ministry Area was £163,000. This was a drop of £53,000 on the previous year and means that over the past two years the general income has halved from £347,000 in 2019 to £160,000 at 31[st] December 2021. Against the backdrop of falling income expenditure has continued to rise. Total general expenditure in 2021 amounted to £248,000 and a further £52,000 was paid out of restricted funds.

On behalf of the Board

……………………………

Trustee Date: ………………………………..

2

RECTORIAL BENEFICE OF BARRY

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31[ST] DECEMBER 2021

I report on the Accounts for the year ended 31[st] December 2021, Charity Number 1134392, as set out on pages 2 to 9.

Respective Responsibilities of Trustees and Examiner

The Church’s trustees are responsible for the preparation of the accounts. The Church’s trustees 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. It is my responsibility to:

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the 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:

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.

Signed: ……………………………………………………….

Date: ………………………………………………

Independent Examiner:

Name: Peter Chaffey FCCA Naunton Jones Le Masurier Chartered Certified Accountants 12 York Place Barry Vale of Glamorgan CF62 7ED

3

RECTORIAL BENEFICE OF BARRY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31[ST] DECEMBER 2021

Note
INCOME
Donations and Legacies
Planned Giving
Loose Collections
Donations
For Mission
Tax Refunds
Legacies
Grants
10
Charitable Activities
Fees
Other Trading Activities
Money Raising
Investments
Investment Income
10
Other
Other Income
10
Total Income
EXPENDITURE
Support for Ministry
Parish Share
Parochial Expenses of Clerics9
Parish Activities
Maintenance of Services
10
General Parish Expenses
10
Church Property
Maintenance of Churches
10
Maintenance of Other Property10
Exceptional Expenditure10
Depreciation
Mission and Grants
Parish
Home/World
Other Resources
Expended
Capital Payments
Raising Funds
Cost of Money Raising
Total Expenditure
Net Income/(Expenditure) before transfers
Transfer between Funds
Net Income/(Expenditure) before Investment Gains/(Losses)
Gains/(Losses) on Revaluation/Disposal of Investment Assets
Net Increase/(Decrease) in Funds
Funds Balances Brought Forward at 1st January 2021
Fund Balances Carried Forward at 31st December 2021		 General
Restricted
Endowment
Funds
Funds
Funds
2021
2020
£
£
£
£
£
64,328
64,328
67,644
5,393
5,393
5,079
3,365
3,045
6,410
5,850
1,908
1,908
3,674
15,677
15,677
19,820
2,000
2,000
46,000
37,150
5,000
42,150
28,915
4,978
4,978
2,886
3,251
446
3,697
16,372
19,650
2
19,652
13,930
5,950
5,950
10,737
163,650
8,493
0
172,143
220,907
118,936
118,936
121,745
3,602
3,602
5,119
7,910
356
8,266
8,155
25,439
25,439
17,329
30,442
29,633
60,075
22,166
22,989
22,989
4,764
34,456
20,382
54,838
1,580
1,324
507
1,831
1,831
0
577
2,431
2,431
398
0
0
0
882
316
1,198
1,344
248,411
51,194
0
299,605
185,008
(84,761)
(42,701)
0
(127,462)
35,899
3,063
(3,063)
(81,698)
(45,764)
0
(127,462)
35,899
15,257
16,631
31,888
43,059
(66,441)
(29,133)
0
(95,574)
78,958
532,422
208,053
800
741,275
662,317
465,981
178,920
800
645,701
741,275

4

RECTORIAL BENEFICE OF BARRY

BALANCE SHEET

AS AT 31[ST] DECEMBER 2021

Note
FIXED ASSETS
Tangible Assets
3
Investments
4
CURRENT ASSETS
Debtors and Prepayments
5
Cash and Bank Balances
Creditors falling due within one year
6
Net Current Assets
Total Assets Less Current Liabilities
Creditors falling due after one year
7
TOTAL NET ASSETS
FUNDS
8
Endowment Funds
Restricted Income Funds
Unrestricted Funds
TOTAL FUNDS		 General
Restricted
Endowment
Funds
Funds
Funds
2021
2020
£
£
£
£
£
58,276
22,308
80,584
82,415
159,691
137,845
297,536
265,648
217,967
160,153
0
378,120
348,063
23,664
23,664
22,486
253,603
18,767
800
273,170
403,270
277,267
18,767
800
296,834
425,756
(7,253)
(7,253)
(6,544)
270,014
18,767
800
289,581
419,212
487,981
178,920
800
667,701
767,275
(22,000)
(22,000)
(26,000)
465,981
178,920
800
645,701
741,275
800
800
800
178,920
178,920
208,053
465,981
465,981
532,422
465,981
178,920
800
645,701
741,275

NB The Church building, its contents and the churchyard are vested in the Representative Body of the Church in Wales and do not form part of the assets of the Parish.

The notes on page 6 to 11 form part of this SOFA

Approved by the Parochial Church Council on ………………………………………………

and signed on its behalf by NAME: ……………………………………………….

Signed:………………………………………………….

5

RECTORIAL BENEFICE OF BARRY

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2021

1. ACCOUNTING POLICIES

Basis of Preparation

Basis of Accounting

The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church in Wales Accounting Regulations governing the individual accounts of PCCs, and with the Regulations “true and fair view” provisions, together with FRS 102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (FRS 102).

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at fair value.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern

Accounting Policies

The accounting policies applied during the year are as listed below.

INCOMING RESOURCES

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SoFA) when:

Incoming Resources with Related Expenditure

Where incoming resources have related expenditure the incoming resources and related expenditure are reported gross in the SoFA.

Grants and Donations

Grants and donations are only included in the SoFA when the Church has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Investment Income

This is included in the accounts when receivable.

Investment Gains and Losses

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

6

RECTORIAL BENEFICE OF BARRY

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2021

EXPENDITURE AND LIABILITIES

Liability Recognition

Liabilities are recognised as soon as there is a legal or construction obligation committing the Church to pay out resources.

ASSETS

Tangible Fixed Assets for use by Charity

These are capitalised if they can be used for more than one year, and cost at least £1,000.

Depreciation

In accordance with FRS 102 as the investment properties cannot be shown at fair value at the balance sheet date without undue cost or effort they are included under property, plant and equipment and depreciated as below:-

Depreciation is calculated to write off the capitalised cost of fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:-

Buildings 2% Straight line basis

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Investments include shares in the Church in Wales Common Investment Fund held by the RB in trust for the benefit of the Benefice.

FUNDS

Unrestricted Funds

These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its “free reserves” as disclosed in the trustees’ report.

Restricted Funds

These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.

Endowment Funds

These are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes to the accounts.

7

RECTORIAL BENEFICE OF BARRY

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2021

2. STAFF COSTS 2021 2020
£ £
Wages and Salaries 3,913 3,585
Number of Employees 1 1
3. FIXED ASSETS Freehold Property
Tangible Fixed Assets Unrestricted Restricted Total
£ £ £
Cost
At 1stJanuary 2021 66,220 25,350 91,570
Additions -- -- --
Disposals -- -- --
At 31stDecember 2021 66,220 25,350 91,570
Depreciation
At 1stJanuary 2021 6,620 2,535 9,155
Charge for the Year 1,324 507 1,831
Elimination on disposal -- -- --
At 31stDecember 2021 7,944 3,042 10,986
Net Book Values
At 31stDecember 2021 58,276 22,308 80,584
At 31stDecember 2020 59,600 22,815 82,415
The Freehold Land Buildings comprise:-
4 Alwen Drive at cost 66,220
18 Woodlands Court at cost 25,350
4. INVESTMENTS
At At
Number of Shares 01/01/21 31/12/21
Santander 104 104
RB Common Investment Fund (Benjamin Thomas Bequest Capital Sh) 43,986 43,986
RB Common Investment Fund (Benjamin Thomas Bequest Inc Accum) 12,562 14,601
RB Common Investment Fund (part proceeds sale Merthyr Dyfan Rect) 68,096 68,096
Listed Listed
Investments Investments
at Value at Value
At 01/01/21 at 31/12/21
Value £ £
Santander 241 258
RB Common Investment Fund (Benjamin Thomas Bequest Capital Sh) 93,140 102,984
RB Common Investment Fund (Benjamin Thomas Bequest Inc Accum) 25,077 34,185
Ben Thomas Bequest Surplus Funds not reinvested 2,997 676
RB Common Investment Fund (part proceeds sale Merthyr Dyfan Rect) 144,193 159,433
265,648 297,536

8

RECTORIAL BENEFICE OF BARRY

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2021

5.
6.
7.
8.
a		 CURRENT ASSETS
Debtors and Prepayments
Tax Recoverable
Parish Share Rebates
Other Debtors and Prepayments
CREDITORS FALLING DUE WITHIN ONE YEAR
Parish Loan due within one year
Utilities
Mission Home & World
Other Creditors & Income received in advance
Provisions for Liabilities
CREDITORS FALLING DUE AFTER ONE YEAR
Parish Loan due after one year
FUNDS
Fund
RESTRICTED FUNDS
Balances
Brought
Incoming
Forward
Resources
£
£
Fund Names
Mrs Gwendoline Amy Davies Fund
1,382
St. Mary’s Restoration Fund
42,353
443
St. Cadoc’s Restoration Fund
20,289
5,367
All Saints Organ Appeal
0
2,683
Benjamin Thomas Bequest
121,214
16,631
18 Woodland Court, Barry
22,815
Other
0
208,053
25,124		 CURRENT ASSETS
Debtors and Prepayments
Tax Recoverable
Parish Share Rebates
Other Debtors and Prepayments
CREDITORS FALLING DUE WITHIN ONE YEAR
Parish Loan due within one year
Utilities
Mission Home & World
Other Creditors & Income received in advance
Provisions for Liabilities
CREDITORS FALLING DUE AFTER ONE YEAR
Parish Loan due after one year
FUNDS
Fund
RESTRICTED FUNDS
Balances
Brought
Incoming
Forward
Resources
£
£
Fund Names
Mrs Gwendoline Amy Davies Fund
1,382
St. Mary’s Restoration Fund
42,353
443
St. Cadoc’s Restoration Fund
20,289
5,367
All Saints Organ Appeal
0
2,683
Benjamin Thomas Bequest
121,214
16,631
18 Woodland Court, Barry
22,815
Other
0
208,053
25,124		 CURRENT ASSETS
Debtors and Prepayments
Tax Recoverable
Parish Share Rebates
Other Debtors and Prepayments
CREDITORS FALLING DUE WITHIN ONE YEAR
Parish Loan due within one year
Utilities
Mission Home & World
Other Creditors & Income received in advance
Provisions for Liabilities
CREDITORS FALLING DUE AFTER ONE YEAR
Parish Loan due after one year
FUNDS
Fund
RESTRICTED FUNDS
Balances
Brought
Incoming
Forward
Resources
£
£
Fund Names
Mrs Gwendoline Amy Davies Fund
1,382
St. Mary’s Restoration Fund
42,353
443
St. Cadoc’s Restoration Fund
20,289
5,367
All Saints Organ Appeal
0
2,683
Benjamin Thomas Bequest
121,214
16,631
18 Woodland Court, Barry
22,815
Other
0
208,053
25,124		 2021
2020
£
£
13,000
15,000
5,944
6,087
4,720
1,399
23,664
22,486
2021
2020
£
£
4,000
4,000
1,187
1,410
269
269
1,797
865
0
0
7,253
6,544
2021
2020
£
£
22,000
26,000
Fund
Balances
Outgoing
Carried
Resources
Transfers
Forward
£
£
£
1,382
29,633
(4,626)
8,537
20,382
5,274
672
1,563
3,574
137,845
507
22,308
0		 2021
2020
£
£
13,000
15,000
5,944
6,087
4,720
1,399
23,664
22,486
2021
2020
£
£
4,000
4,000
1,187
1,410
269
269
1,797
865
0
0
7,253
6,544
2021
2020
£
£
22,000
26,000
Fund
Balances
Outgoing
Carried
Resources
Transfers
Forward
£
£
£
1,382
29,633
(4,626)
8,537
20,382
5,274
672
1,563
3,574
137,845
507
22,308
0
208,053
25,124		 51,194
(3,063)
178,920
Fund Name
Mrs Gwendoline Amy Davies Fund
St. Mary’s Restoration Fund
St. Cadoc’s Restoration Fund
Benjamin Thomas Bequest
18 Woodland Court,Barry		 Type of Fund
Restricted Income
Restricted Income
Restricted Income
Expendable Endowment
Restricted Income		 Purpose
Church Maintenance
Church Maintenance
Church Maintenance
Church Maintenance
PropertyAcquisition

Transfers have been made during the year to and from Restricted funds as shown above and reflect the movement and closing balances on these funds.

9

RECTORIAL BENEFICE OF BARRY

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2021

b
DESIGNATED FUNDS
Curate’s House (invest) a/c
4 Alwen Drive (fixed asset) a/c
All Saints Future Development Fund
CIF Merthyr Dyfan Rectory		 2021
2020
£
£
415
415
66,220
66,220
41,364
40,927
135,940
34,406
243,939
141,968

9. RELATED PARTY TRANSACTIONS

Parish clergy are ex officio PCC members, an insignificant amount of expenses of £3,602 paid to them as clergy may relate to their duties as PCC members.

9a. SALE OF ST PAUL’S CHURCH AND HALL

The net proceeds from the sale of St. Paul’s church was £239,789. These funds are available to be used by the Benefice for specific purposes in accordance with the Church Sales regulations and have a time limit on the period over which they are to be used. As a result specific projects have been identified to be completed within the time frame. The current time frame extends to 31.12.2022 with the possibility of an extension.

10

RECTORIAL BENEFICE OF BARRY

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER FOR THE YEAR ENDED 31ST DECEMBER 2021
10. General Restricted 2021 2020
GRANTS £ £ £ £
National Heritage 0 0
Listed Places of Worship Grant Scheme 0 0
Llandaff DBF 37,150 5,000 42,150 28,915
37,150 5,000 42,150 28,915
INVESTMENT INCOME
Property Rentals 16,800 16,800 9,670
Interest and Dividends 2,850 2 2,852 2,051
Income from Shares 0 2,209
19,650 2 19,652 13,930
OTHER INCOME
Parish Share Rebate 5,944 5,944 6,087
Part Sale Proceeds Merthyr Dyfan Rectory 0 0
Insurance Claim 0 1,954
Other 6 6 2,696
5,950 0 5,950 10,737
GENERAL PARISH EXPENSES
Printing and Stationery 4,944 4,944 8,752
Lease Settlement Charges 14,402 14,402 0
Parish Administrator 3,913 3,913 3,695
Computer and Telephone Expenses 562 562 633
Leaving/Retirement Gifts 1,400 1,400 3,370
Other Expenses 218 218 879
25,439 0 25,439 17,329
MAINTENANCE OF SERVICES
Costs of Vergers, Organists and Choir 5,357 5,357 5,040
Music and Performance Expenses 1,401 1,401 1,681
Altar Requisites 606 606 1,434
Other 902 902 0
8,266 8,266 8,155
MAINTENANCE OF CHURCHES
Insurance 4,888 4,888 4,878
Light and Heat 10,069 10,069 11,014
Water 546 546 243
Repairs and Maintenance 13,966 29,633 43,599 4,401
Interest on Parish Loan 973 973 1,630
30,442 29,633 60,075 22,166
MAINTENANCE OF OTHER PROPERTY
All Saints Church Hall 2,267 2,267 1,886
Woodlands Court Flat 1,800 1,800 1,912
Alwen Drive 16,048 16,048 966
Churchyard Maintenance 2,874 2,874 0
22,989 0 22,989 4,764
EXCEPTIONAL EXPENDITURE
St. Cadoc’s Toilet 34,456 20,382 54,838 1,580
34,456 20,382 54,838 1,580
11