Parish of Aberystwyth Parochial Church Council (The Local Ministry Area of Aberystwyth) Annual Accounts for the year ended 31 December 2020 Registered Charity No. 1134858
Constituent churches: within the Deanery of Uanbadarn Fawr, in the Church in Wale5 Diocese of St David5 St Michael and All Ange15 Church, Aberystwyth Holy Trinity Church. Aberystwyth Eglwys v Santes Fair (also known as St Mairfs/St Marfs Church). Aberystwyth St Anne's Church, Penparcau St Llwchaiarn Church, Uanychaearn Prlnclpal office: St Michael's Church. Laura Pla. Abery5twyth. Ceredigion, SY23 2AU Contact: Tel.. 01970 617184 Email: office 5tmikes.net
Chairfs Comments As I write this report I feel it 15 important for us to acknowledge the difficulties we have experienced in continuing to be church under lockdown restrictions and also the pressures that our clergy, Staff, wardens and church committees have been under a5 we have continued to maintain our worship alongside all of the necessary care of building5, finances and forward planning activities. Much of this has needed to be done on line and h3s inevitably meant that there have been difficLslties in communication and that some people have found this time very isolating. Despite all of this the church has continued to function with services, prayer meetings, home groups and our community activities being maintained. Over the last year alongside pastoral care the main concerns for the Local Ministry Area Council has been monitoring our financial position and the care and use of our buildings. We were fortunate during 2020 to benefit from a reduced ministry share which has made a huge difference to our finances at a tlme when giving has been lower than usual due to our church buildings being closed. At the time of writing plans are in progress for the sale of properties held in trust adjacent to Holy Trinity Church and also to discuss proposals for the improvement of St Michael'5 car park. We have also agreed to plans for moving forward with Santes Fair to host The Well and the Hatch in the future and are considering the future use of all of our buildings to ensure that the parish is sustainable into the future. Talk of change is always unsettling and there will be opportunitie5 for each congregation to express their thoughts about this over the coming month5. I want to thank all of our members for their contributions to the ongoing work of the church in serving in our community, and for their perseverance and understanding during this time. Thanks are due in particular to our clergy team- staff; those who have contributed to services both in person and on line,. our wardens; our treasurers and our committee members; those keeping Jubilee Storehouse, the Well and the Hatch going in difficult circumstances. and everyone else for thelr commitment In sUPPOrting one another in many different ways. he body is a unit, though it is made up of many parts. and though all its parts are many, they form one body.... Now you are the body of Christ. and each of you 15 a part of it." Icor 12 INIVI As we look forward to the 2021 we are aware that the challenges of 2020 remain and we will still be operating under Covid restrictions. The coming year will be one of reflection on our changing resources and circumstances and reviewing the way that we do things as the restrictions ease. We thank you again for your ongoing commitment to one another and to serving God within our tommunity. Trustees, Report Objertlves and Activities The last twelve months have seen the Local Ministry Area ILMAI of Aberystwyth become more established with the church committees and LMA Council beginning to establish themselves under the revised standing orders. The way that we operate as a Ministry Area has been subject to the various Covid restrirtions but nevertheless our committees have largely been able to move online and to continue their oversight. However, as reported previously we are pleased to say that the objectives of the Ministry Area remain the same. As a collection of five different churches and congregations in and around Aberystwyth, we continue our commitment to enabling as many people as possible to worship and to the promotion of the whole mission of the Church, pastoral, evangelistic. social and ecumenical. Thi5 is achieved not only by our in-person Sunday worship where permitted, but also using online resources and printed materials, maintaining regular contatt with our members by telephone. email and video conferencing and a variety of activities that seek to involve us in expressing God's love in our local community in order to encourage the development of individual Christian faith and understanding of the Gospel of Jesus Christ.
Many of our services have moved online with a commwtment to providing a mix of styles and of worship and different ways for people to share fellowship together. We have continued to operate our foodbank based at St Anne's Church throughout the year and more recently, working closely with Ceredigion Council and the W311ich to re-e5tablish our meals for homeless people through the Well and the Hatch initiatives which were closed earlier in the year because of the lockdown restrictions. The provision of Parent and Toddler groups remain suspended currently but there are plan5 for these to restart 35 soon as the restrictions allow. Our links with Welsh learners have also continued through the work of our congregation at Santes Fair using online technology. We remain involved with the other churches and chape15 in the town to provide a chaplaincy service to the hospital and University. In this way, and in many others, we aim to contribute to the health and wellbeing of our local community,. with a mind to the Charity Commission's guidance on public benefit and have continued to do this throughout the Covid-19 pandemic. Although our buildings may have been closed, we are very much still an active chufch and continue to thrive and plarb for the future. Our ministry team consisting of Revd. Mark Ansell (Ministry Area Oeanl, Revd. Liz Rees and Revd. Cei Rees, and Rev Dr Robert Wilkinson INSM Curatel has worked well together through thi5 time sUPPOrted a150 by our lay reader Anne Dye, and Revd Canon Michael Rees Iretiredl. They have recently been joined by Revd Becky Evans Icijratel who has taken over responsibility for our student work a5 part of her role, continuing the work of a previously employed student pastor. A new post of Online Pastor has been established to support the online work of the LMA. We continue to employ a Children and Families, Pastor, a Youth and Worship Pastor, a Financial Coordinator and an Office Administrator and a Verger. However, it is true to say that without the tommitment and sacrificial giving in time, expertise and financially of our thurch members the charity would be unable to carry out many of its activities and we are very grateful for this. During the last year the provision of weddings and baptisms has been limited due to restrlrtions however where possible these SeiCe$ have 8one ahead. Our clergy have also presided over a number of funerals both for church members and those from the wider community. The LMA tontinues to support groups, and individuals who have links to our LMA, who share our . objectives to further God'5 work and support those in need. Achlevements and Performance The LMA seeks to undertake activities that benefft and enrich the lives of those with whom we have contact within our Total community. Sadly, many of our usual event5 have been unable to continue during this time due to Covid restrictions. we have provided weekly Sunday online services, midweek morning prayer online, Easter and Christmas activities for families outdoors, online prayer meetings and fellowship groups, provision of printed materials to those who are unable to use digital technology. pastoral phone calls as well as the provision of food to those in need, and meals for those who are homeless or in temporary accommodation. The maintenance of our church buildings has been challenging during the year with limited access and some storm damage. This has resulted in remedial work being needed. The buildings are subject to quinquennial inspertions, and we are aware that there is work needed in the comillg year to deal with issues that have been identified. Our income for the year has been below normal with the car park at St Michael's church contributing lower than usual sums and voluntary giving suffering due to our buildings being closed for much of the year. FortLJnately, due to the generosity of the Diocese in reducing our Ministry Share contributions and savings being made due to not opening our buildings our outturn for the year is favourable. However, we are aware that the financial year of 2021 and Subsequent year will be more challenging. We carryout little iri the way of active fundraising with the majority of our funds coming from voluntary donations made by our members with some funds being received from grant making bodie5. which is greatly appreciated. The LMA does own residential property which generates income through rents
and is currently negotiating the sale of a cottage and the Bu8rth Hall adjaoent to Holy Trinity, which are in need of investment. This sale will provide capital which will help to fund some necessary building repair5. Financial Revlew for year ending December 2020 2020 has been an unprecedented year which has afferted us in 50 many ways, including our finances. The Church in Wales has provided generousfinancial support and been able to relieve us of a significant proportion of our ministry share contribution, which has made a huge difference to our financial position. The picture acro55 Qur churches is mixed but with church buildings closed for services (including weddlngs and funerals) for many month5 there was an inevitable drop in 'Open Plate, offerings. Financial support for the Jubilee Storehouse remained high. as did regular giving by member5. St Michaels received a £50,000 legacy. Due to substantially reduced expenditure, there was an overall surplus across the LMA of £136,2(K) with only Holy Trinity recording a defitit. We believe that the majority of our resources should be put to active use, but some reserves are kept principally to cover the cost of any unplanned building repairs and maintenance. We expect 2021 to be anothervery unusual year but we already knowthat there will be further support from the Church in Wales which will help us to maintain some financial tonfidence for the year ahead however we are aware that subsequent years may be more challenging. The majority of our re5eNes are held as property. and we are in the proce55 of liquidating some assets in order to have more cash available in 2020 to meet our liabilitie5. Our church bulldlngs also pose a risk to our finances. All church buildings are inspected every 5 years by an architect, and we are aware of work needing to be carried out in several of our churches. We will continue to seek grant aid where appropriate, to ensure that rental properties a let where possible or sold if not, to negotiate with the DBF regarding the payment of our Ministry Share if ece5sary, and to be flexible with staffing levels. Any investments held in trust by the Church in Wales and the Diocesan Board of Finance IDBFI are invested in the Common Investment Fund in accordance with the Investment policies of those Snstitutions. Strurture, Governance and Manaiement The Local Ministry Area of Aberystvryth Parochial Church Council 15 constituted under the constitution of The Churth In Wales and abides by their regulations. The strurture of the Council is that each of the five churches elects its own Church Committee on an annual basis at their individual Easter Vestries. The election of each member is normally for a period of three years. Some of those members are then appointed to represent their church on the LMA Council. Our Vicars, Curate, and Ministry Area Wardens and Church Wardens are ex-officio member5 of the LMA Council. The appointed secretary and treasurer. as well 0$ other lay people and licensed readers, are co-opted to the LMA Council and a lay chair is elected. The trustees (members of the Ministry Area Council) are chosen for their experience, talents and contribution to the life of their respective churches. Trustees are directed to the Charity Commission booklet 'The Essential Trustee What you need to know for details of their responsibilities, as well as being invited to attend a training evening. The trustees. sitting as the Ministry Area Council, hold a meeting at least quarterlyi to receive a report from one of the two sub-wardens appointed by each church and from the church treasurers. These reports review all the activities of eath of the churches. Any proposals, which require the sanction of the Ministry Area Council are put to the meeting and are passed only if there is unanimity.
Decision-making authority rests with the Clergy, the LMA Council, the LMA Wardens and LMA Treasurer, although authority for many local church matters is delegated to the team vicars, church comtnittees, 5ub-wardens and church treasurers. The level of devolvement is specified in the Standing Orders for the Ministry Area. Lay staff and voluntary leaders have authority within their own areas of ministry for routine activities. as well as management of delegated budgets. It is the responsibility of the Clergy and LMA Council to consult and to co-operate in all matters of concern and importance to the LMA for the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical in the LMA. The trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Prarticel. The LMA Council are required underthe Charities Act 2011 and the Constitution of the Church in Wales to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. of the charity for that period. In preparing the financial statements, the trustees are requlred to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the applicable Charltles SORP. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any materlal departures that must be disclosed and explained in the financial Statements. prepare the financial statements on the going concern basls, unle55 it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable ccuracy at any time the financial position of the charity and to enable them to ensure that the finantial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the Church in Wales. constitution. They are also resF)onsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detertion of fraud and other irregularities. In addition to the Ministry Area Treasurer, each church appoints a Treasurer to keep the necessary financial records. St. Michael's Church also employs a Finance Co-ordinator to carry out this task. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. ClerEY are paid by the Church in Wales and remuneration is set by them. All other officers and trustees give their time voluntarily without payment. Lay staff rates of pay are set bearing in mind local rates of pay and Statutory minimums, with a desire to be as generous as our limited finances will allow. Title Name Status Appointed or Retired in 2020 rrtle Name ststU5 Appointed or Retired in20 Rev Dr Mark Peter Andrew Ansell Bunting Davies Cleric Elected Eletted Mr Mrs Mrs Sion Carmen Julie Meredith Mills Morgan Ex officio Eletted Elected Retired 20 Retired 20 Appointed 12020} Mr Robert Davies Ex officio Rev Lin(ty Morgan Cleric Retired 20
Mrs Dr Mr Mr Mrs Ruth Anne Malcolm Rolant Anna Davies Dye Dye Elected Co-opted Elected Ex Officio Elected Karen Mary Cei Liz Stephen Ex officio Ex officio Cleric Cleric Elected Mrs Rev Rev Mr Platt Rees Rees Smith Evans Retired 120201 Mrs Ms Mrs Prof Brina Hannah Pauline Andrew Evans Green Heyes Henlev Elected Co-opted Elected Elerted Mrs Mrs Mr Stagg Troughton Turner Welsh Co-opted Ex Officio Elerted Ex officio Lorena Jon Enid Retired 20 Appointed 120201 Mrs Mrs Sue Pat Henley Hughes Ex officio Ex offiao Mrs Rev Mairwen Robert Williams Wilkinson Ex officio Cleric Mrs Mrs Ann Ruth Jones Lewi5 Elected Ex Officio As part of the Diocese of St Davlds within the Church in Wales. the LMA is represented on various committees and also benefits from a(5$ to funds available from the Diocese for specific ministry projects. The LMA also benefited lup to the end of August 20201 from the availability of a Deanery Evangelist to assist with evangelistic ministry. Additionally, the LMA has developed strong links locally, and works with other church denominations in the area in a number of different minlstry areas. St. Michael's Car Park Ltd is a company whose shareholders are the wardens of St. Michael's Church and that donate5 all of its profits to St. Michael's Church. Admlnlstratlve detalls The Trustees are the member5 Of the Aberystvryth Ministry Area Councll Changes In the membership of the Aberystwyth Ministry Area Council are generally made at the annual Parish Easter Vestry meetingJAGM, held last year on 2r November 2020. Changes made during 2020 are indicated. Details of other trust-holding assets on behalf of the various churches are given in Notes to the Accounts No's 18 & 19 below. Chairperson.. Mrs Sue Henley Parlsh Wardens: Mrs Sue Henley & Mrs Mairwen Williams Parish Treasurer: Mrs Gill Stagg Principal Banker: 6WT The Cooperative Banl P.0. Box 250, Delf House, Southway Skelmersdale WN8 Sollcltor: Alun Thomas & John. Crynfryn, Eastgate. Aberystwyth. Ceredigion. SY23 2AR Accountant & Auditor". LHP- Chartered Accountants, 81 Bridge Street, Lampeter, SA48 7A8 Plan5 for the Future The LMA plans to continue the artivrties in which it Is currently engaged and will be reviewing these regularly in the light of the changing regulations relating to Covid-19, our developing financial concerns and the needs of church members and our local community.
Our LMA council and church committees will be reviewing the ongoing use of our church buildings and properties to ensure that we are using our resour$ in the most effective way to meet our aims and responsibilities. To this end we will, for the foreseeable future, be continuing to provide a mix of online and in-person worship services and small groups. The Jubilee Storehouse will be continued, and we will look to how we can restart our provision for those who are homeless or in temporary accommodation through The Hatch arbd The Well projects. We intend to be responsive to changing pattern5 of worship and to the changing needs being expressed locally so that we may continue to brin8 the gospel to the people of Aberystwyth in word and deed. We will continue to monitor our financial situation carefully and to make decisions related to staffing and the liquidation of assets as necessary to ensure the future financial stability of our Ministry Area. Report for 2020 approved by the LMA Councll and slgned on it5 behalf by the chalrperson: 22-10- 2021
Statement of Financial Activities for the year ending 31 December 2020 2020 2020 2020 2020 2019 Note Unrestricted Restricted Endowments Total Total Income Donations & Legacies Charitable Activities Money Raising 335,237 6,951 790 107,560 1,073 442,797 8,024 404,178 25,274 673 1,463 69,986 4,055 15,378 541,703 7,962 68,214 4,092 10,552 520,272 Property income Investment income 47.033 4,055 15,378 409,444 22,953 Other income Total Income 132.259 Expenditure Cost of money raising Mission & Grants 14761 27,903 14761 56,469 4,727 86,688 28.566 io Support for ministry Charitable activities Parish activitSes- Church services General parish expenses Church property.. Maintenance of church Maintenance of other property Total expendlture 179,131 9.796 179,131 9,796 294,623 5,390 li 12 12,707 61.033 12,707 61,371 16,939 67,412 338 13 14 54,396 15,082 359,572 1.826 18,313 49,043 56,222 33,395 408,615 40,640 40,466 556,885 Net movernent in funds before galn5 and losses on investments 49.872 83.216 133,088 136,6131 15 Galnslllossesl on investments 3,112 3,112 6,404 Transfers between funds 18,412 118,4121 Net movement in funds 68,284 64.804 3.112 136,200 130,2091 Total fvnds brought forward 419,705 99,827 51,259 570,791 601,000 Total funds carried forward 487.989 164,631 54,371 706,991 570,791
Balance Sheet as at 31 December 2020 Unrestricted Funds Restrltted Funds Endowment Funds Total Funds Prior Year Note Fixed Assets Tangible fixed assets Investments 17 18 425.627 425,627 54,371 437,875 51,259 54,371 Current Assets Stocks Debtors Cash at bank and in hand 3,851 13,737 167.048 184,636 3,851 13.737 331,679 349,267 2,816 18,735 186,518 208,069 19 164,631 164,631 Creditors amounts falling due wSthin one year 20 188,8171 188,8171 188,6591 Net Current assets 95,819 164,631 260,450 119,410 Total Assets less current liabilities 521.446 164.631 54,371 740,448 608,544 Creditors.. amounts falling due after more than one year 21 133.4571 133,4571 137,7531 487,989 164,631 54,371 706,991 570,791 the funds of the charlty: Endowment funds Restricted funds Unrestricted funds Designated funds Property fund General fund 54.371 54,371 164,631 51,259 99,827 24 25 164,631 64,950 278.541 144,498 64,950 278,541 144,498 487,989 706,991 80,414 278,541 60,750 419,705 570,791 487,989 164,631 54,371 Approved by the Rectorial Benefice Council on 11114 I, and signed on their behalf bv.'_ Revd M Ansell Local Ministry Area Dean and Trustee
Statement of Cash Flows for the year ending 31 December 2020 Note 2020 2019 Net cash generated byllused in) operating activltles 145,402 136.4051 Cash flows from investing activities Interest Purchase of tangible fixed assets Proceeds from sale of investments Net cash generated byllu5ed In) Investing activities 4,055 4,092 4,055 4.092 Cash flow from financing activities Repayment of borrowing Cash used In financin8 actlvltles 14,2961 14,2961 14,2961 14,2961 Increaselldecreasel in cash and cash equivalents in the year 145,161 136,6091 Cash and cash equivalents at the beginning of the year 186,518 223,127 Cash and tash equlvalents at the end of the year 331,679 186,518
Notes to the Accounts for the year ended 31 December 2020 Accounting Policies Ba51s of preparation of accounts The accounts are prepared in accordan with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK IFRS 1021 (Charities SORP IFRS 10211, and the Church in Wales Accounting Regulations. The parish constitutes a public benefit entity as defined by FRS 102. In¢ome All income is recognised once the parish has entitlement to the income, it is probable that the income will be received and the amount of incorne receivable can be measured reliablv. Income from the government and other grants, whether capital grants or revenue grants, Is recognised when the charity has entitlement to the fund5, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Rental income received in advance of the period to which it relates is credited to other creditors. Income tax rebates under the gift aid scheme are included in the accounts of the period when the underlying income was received. Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator for the estate has communicated the amount and settlement date. In the event that the gift is in the form of an asset other than cash, recognltion is subject to the value of the gift being reliably measurable with a degree of accuracy. Gifts in kind received for the food bank are not included in the accounts as it is impractical to estimate their value. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obllgation committing the charity to that expenditure. All expenditure is accounted for on an accruals basis. Giving to individuals and other organi5ations are payments made to third parties in the furtherance of the charitable objects of the parish.
Note5 to the Accounts for the year ended 31 Dernber 2020 continued Accounting Politles contlnued Tangible fixed assets and depreciation TanBible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the tost of fixed assets, less their estimated residual value. by equal annual instalments over their expected useful lives as follows- Fixtures, Fittings and Equipment 4 to 20 years Land NIL Buildings 50 years Item5 are capitalised if they exceed E500 at cost. Expenditure on improvements to the church building are charged to outgoing resources. Investment properties are included in the balance sheet at their current market value. No depreciation has been provided. Some of the residential buildings are held for both operational use and as investment property. In the opinion of the trustees, the fair value of the investment property component cannot be measured rellably without undue cost or effort, and therefore these properties are included within tangible fixed assets. Investments Investments are a form of basic financial instrument and are stated at their fair value as at the balance sheet date. Realised arbd unrealised gains and losses are included in the Statement of Financial Activities. Investment income from funds held in trust for the parish by the Representative Body of the Church In Wales and the Diocesan Bgard of Finance is credited to income when received. St¢xks Stocks of goods for resale are valued at the lower of cost and net realisable value. Fund attountlng Unrestricted funds are available to spent on activities that further any of the purposes of the church. Designated funds are unrestricted funds which the church committee decide5 at their discretion to set aside for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for a specific purpose, or which have been raised through an appeal by the church for a specific purpose or cause. Designated funds for church activities Certain church activities such as youth groups manage their own funds and carry forward surpluses at the year end towards their own activities. Income generated by these activities 15 credited to the designated fund and released as expenditure is incurred, unle55 already to a restricted fund as described in note 1.3. Rertor's and vicar's dlscretlonary fvnd Gifts received for use at the rector's discretion are paid into a separate bank account. Transactions on the separate discretionary bank account are not included in these accounts.
Statement of Financial Activities- prevlous year Note Unrestrirted Restricted Endowments Total Income Donations & Legacies Charitable Activities Money Raising Property income Investment income Other income Total Income 359.666 22,706 7,962 46,9C(I 4,092 10.552 451.878 44.512 2.568 404,178 25,274 7,962 68,214 4,092 10,552 520,272 21.314 68,394 Expendlture Cost of money raising Mission & Grants Support for ministry Charitable activities Parish activities: Church services General parish expenses Church property.. Maintenance of church Maintenance of other property Total expendlture 4,727 41.129 294.623 5,390 4,727 86,688 294,623 5,390 45,559 io li 12 16,646 66,567 293 16,939 67,412 13 37,656 15,411 482,149 2,984 25,055 74.736 40,640 40,466 556,885 14 Net movement in funds before 8aSns and losses on investments 130,2711 16.3421 136,6131 Galns/llosses} on in¥e5tments 15 6,404 6,404 Transfers between tunds 6,620 16.620) Net movement in funds 123,6511 112.9621 6,404 130,2091 Total funds brought forward 443,356 112,789 44,85S 601,000 Total funds carrled forward 419.705 99,827 51.259 57Q,791
Donations and legacies 2010 2019 Regular Collections Donations from St Michael's Car Park Ltd Legacies Special collections and donations Gift Aid refund Grants 259.320 20.2(KJ 50,000 14,535 48,391 50,351 442,797 243.888 56.5(M) 1.329 27,834 56,387 18,240 404,178 Grants received In the current year included: £4,390 for the Food Poverty project by St Anne's Church; £20,175 for the Well Project managed by St Michael's Church; £17,739 which relates to the covid Furlough and Rates grants; E3,924 for building work at St Michael's Church,. E3,320 for The Hatch project by St Michael's Church; All the activities in the parish rely on the Involvement of the church members, in accordance with FRS 102 and the Charities SORP IFRS 1021. the economic contribution of volunteers Is not recognised in the accounts.
Notes to the Accounts for the year ended 31 December 2020 continued Income from charitable actlvities 2020 2019 Service fees Church functions Other Total mission 865 5,138 2,886 8,024 17,421 6,988 25,274 Income from money ralslng Bookshop Hall Hire Other Total support for ministry 1,463 3,932 3,203 827 7,962 1,463 Property income Car park lease Other property rent 5,200 64,786 69.986 6,C(JO 62,214 68,214 Other income Miscellaneous 15,378 15.378 10,552 10,552 Cost of money ralslnz Bookshop Other 14761 4,727 14761 4,727
Notes to the Accounts for the year ended 31 December 2020 continued Mlsslon and Grants 202Q 2019 In the parish Outside the parish 32,803 23.666 56.469 59,114 27,574 86,688 Misslon costs above include giving in 5UPPQrt of individuals. missionaries, mission agencies, and relief and development agencies. Many charities were supported. such as Tear Fund, Mochipapa School. Nazareth Trust, Childrens Nest Zambia, Plant Dewi, Compassion UK, and Bewicks for projects & people- Zambia, European Christian Mission and OMF International. io Support for mlnSstry Diocesan mlnistry share Staff costs Parochial expenses of clerbry 130,960 47,158 1,013 247,680 43.741 3,202 179,131 294,623 li Church servlces Communion requisites Service books and materia15 Staff costs Organists Music and instruments Refreshments Wisiting speakers other Total maintenance of church 112 148 534 300 9,765 1.074 2,387 1,732 3(K) 10,341 210 862 386 250 398 847 16,939 12,707
Notes to the Accounts for the year ended 31 December 2020 continued 12 General parish expenses 2020 2019 Minibus expenses Staff costs 1,249 32,283 3,291 3,279 4,572 207 828 2,702 31,689 4,910 3,300 6,814 1,164 Postage. stationery, etc Telephone Equipment renewals and maintenance Church functions Deficit- Sale of motor vehicle Testimonials and gift5 Independent Examination Mi5ce113neous Depreciation of asset5 428 7,570 1.329 6,763 61,371 6,624 567 9,214 67,412 13 Maintenance of churches 6,810 9,087 Major repairs and improvements: St Michael's roof Other Other repairs and malntenance 27,698 1,561 20,153 56,222 5,774 4,220 21,559 40,640 14 Malntenance of other property 2,858 3.846 858 33.488 835 1,439 40,466 Caretaker Repairs, renewals & Maintenance Mortgage interest Churchyard maintenance 27,503 835 1,357 33,393 15 Gainslllosses) on Investments Realised gains/losse5 on sale of investments Unrealised gains/llosses} on revaluation 3,112 3,112 6,404 6,404
Notes to the Accounts for the year ended 31 Drnber 2020 continued 16 Staff costs 2020 2019 Staff costs paid by the parish Wages & Salaries National insurance costs 93.068 3,318 96,386 No employees received employee benefits of more than £60,CKJO12019.. £60,000) 81,123 1,835 81,958 The average monthly numberof employees was 7 12019: 61 17 Tangible fixed assets Investment Propertv Property Equlpment Total Cost/Market value Balance as at l January 2020 Additions Disposals Balante at 31 December 2020: Market value 150,LKIO 274,797 174,928 599,725 19,7501 19,7501 150.CD) 150,000 439,975 Cost 274,797 165,178 Depreciation Balance as at l January 2020 Charge for year On disposals Balance at 310ecember 2020 Net book value As at 31 December 2020 28,354 2,344 133,496 4,420 14,2661 133,650 161,850 6,764 14,2661 164,348 30,698 1S0,C# 244,099 31,528 425,627 As at 31 December 2019 150,Crf)O 246.443 41,432 437,875 The investment property has been valued by the trustees by reference to other property sales in Aberystwyth. No professional valuation has been obtained. The properties are held by trustees as follows: 5 Queen Street.. St Michael's and All Angels Property Trust 18 New Street.. The Diocesan Board of Finance Plas yr Afon flat: executors to the estate of Revd Walters
Notes to the Accounts for the year ended 310ecernber 2020 contlnued 17 Tangible Flxed Assets continued The property at 5 Queen Street, of net book value £166,53812019: £168,882), is mortgaged as security for the bank loan of £33.75312019: E38,0491 included in creditors. Further tangible fixed assets used by the church but not included in the accounts= The Church building of St Michael's. Holy Trinity, St Anne's, St Mary's. and St Llwchaiarn, their contents and the Churchyards are vested in the Representative Body of the Church in Wales and do not form part of the assets of the Parish. The Parish Hall at Castle Rooms is owned by Ysgoldy Aberystwh trust and does not form part of the assets of the Parish. St Anne's Church Hall and Ysgoldy Figure Four, Llanfarian are held in trust for the Parish by the Representative Body of the Church in Wales The following are held in trust for the Parish by the Diocesan Board of Finance.. Buarth Church Hall Holy Trinity Church Cottages 18 Fixed assets." Investments Balance 0110112020 Disposals Revaluatlon 2020 2020 Balance 3111212020 Investments held by the Church in Wales: Bequests in the common investment fund 51,259 3,112 54,371 19 Debtors 2020 13,737 13,737 2019 18,735 18,735 Prepayments and accrued income 20 Credltors: Amounts falling due wlthln one year 2020 69,296 2.297 6,027 11,197 88,817 2019 Loans and overdrafts Trade creditors Other creditors Accrua15 and deferred income 69,296 1,950 4,038 13,375 88,659 Included in loans and overdrafts above is £4,296 {2019= £4,2961 of a bank mortgage secured on 5 Queen Street. Other unsecured loans of E65,OCK)12019: £65,(KJOI included in loans and overdrafts are repayable 6 months after demand. No interest is payable on these loans. However. on repayment of any of these loans, the loan is linked to the Land Registry Index for Ceredigion.
Notes to the Accounts for the year ended 31 December 2020 contlnued 21 Credltors: Amounts falling due after more than one year Bank loan Other loans 29.457 4,000 33,457 33.753 4,000 37,753 The bank loan is a mortgage loan secured on the property 5 Queen Street, repayable by monthly instalments. Bank interest paid on the bank loan during the year was £83512019- £8351. 22 Operatlng leases- as le550r At 31 Decernber 2020 the total future minimum lease payments for property leases were.. 2020 2019 20,997 20,997 83,988 83,988 90.987 111.984 195,972 216.969 Not later than one year later than one year and not later than 5 years later than 5 years 23 Capltal comrnltments The church had not entered into any contratts for building works. other than repairs.
Note5 to the Accounts lor the year ended 31 De¢ember 2020 continued 24 Re5trirted funds Balance Incoming Outgoing Transfers 2020 2020 2020 Balance 0110112020 3111212020 St Michael's Holy Trinity St Anne's St Mary'5 St Llanwchaiarn 56,996 7,638 19,024 1.217 14.952 73.982 126,4701 114,3971 90,111 7,638 50,303 1,083 15,496 56,826 121.5321 17 11511 1.434 18901 14.0151 99,827 132,259 149,0431 118,4121 164,631 Restricted funds for each church comprise of- l. Grants and giving funds raised for specific purposes within the parish or on behalf of others. Bequests and funds in memory donated for specific purposes or to be spent at the direction of bereaved families. 3. Fabric fLsnds which are for the maintenance and improvement of the church building5 and halls. 4. Activities fund5 which support the artivities of the churches within the parish.
Notes to the Accounts for the year ended 31 December 2020 tontinued 25 Unrestrirted funds Balance Incomln8 Out8olng Transfers 2020 2020 2020 Balance OIIOIJ2020 3111212020 Designated funds St Michael's Holy Trinitv St Anne's 74,746 2,572 3,096 80,414 278,$41 60.750 405.706 1339,4431 419.705 409,444 1359,5721 3.738 119,2691 59.215 2,572 3,163 64,950 278,541 144.498 487,989 18601 120,1291 927 3.738 927 St Michael's property fund General Funds 17.485 18,412 The St Michael's property fund is the value of unrestricted funds represented by property, less the loan5 L15ed to fund their acquisition.
Notes to the Accounts for the year ended 31 December 2020 contlnued 26 Related party transactlons and trustee's expenses and remuneration The clergy members of the PCC are employed by the Diocese of St David's and live in property provided by the diocese. They receive no remuneration or other benefits of employment from the parish. No other members of the PCC received any remuneration or other benefits of employment from the parish, neither were they reimbursed expenses during the year. St Michael's Car Park Limited is a company owned by the church wardens of St Michael's Church. During the year St Michael's Church received donations of £20,20012019: £56,500), rental income of £5,2(KJ I2019- £6,IXh)l. and charges of £6.12012019.. £6.1201 from St Michael's Car Park Limited. All the trustees are also rnembers of the church, who give to the churches as part of the congregation. Identifying the total financial giving of the trustees as a group would be an onerous task and therefore has not been done. Z7 Re(onclllatSon of net movement In funds 2020 136,200 2.498 9.750 14,0551 {3,1121 (1,0351 11,9741 7,130 145.402 2019 130,2091 9,214 Net movement in funds Add back depreciation Add back disposal of asset Deduct Interest income Deduct 8ains/ add back losses on investments Decreasellincreasel in stock Decreasellincrea5el in debtors Increaselldecreasel in creditors 14,0921 16,4041 2,039 715 17,6681 136,4051
Independent exuminerfs report to the Trustees of the Porish of Aberystwyth Parochiol Church Council I report to the trustees on my examination of the accounts of the Trustees ofthe Parish of Aberystwyth Parochial Church Council for the year ended 31 December 2020, which are set out on the previous pages. Respective responsibility of trustees ond examiner The charity's trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. The Charitvs gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants. It is my responsibility to: Examine the accounts under sertion 145 of the Charities Act. To follow applicable Directions given by the Charity Commission (under section 14515llbl of the Act, and To state whether particular matters have come to my attention 8osis of independent examinerfs statement My examination was carried out in accordance with 8eneral Directions given by the Charity Commission. An examination includes a review of the accounting records kept 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 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 fairf view and the report is limited to those matters set out in the statement below. Independent examinerf5 5totement In connection with my examination, no material matters have come to my attention which gives me cause to believe that, in any material respect= the accounting records were not kept in accordance with section 130 of the Charities Act,. or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination.
Independent examinerfs report to the Trustees olthe Parish of Aberystwyth Parochial Church CounciTI (Continued) I have no concerns and 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 nderstandin8 of the accounts to be reached. Signed: Name: Mrs J Collins The Association of Chartered Certified Accountants 81 Bridge Street Lampeter Ceredigion SA48 7AB Dale..