OpenCharities

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2021-03-31-accounts

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e
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Description
ofthe charity's
trusts
Type of governing
document
Constitution
Association
Charitable
Incoporated
Organisation
(CIO)
Trustee selection methods
(eg. appointed
by, elected by)
By election by members
following
consideration
and recommendation
existing trustees.
by
Additional
governance
issues (Opt
ional information
You may choose to include
additional
information,
where
relevant,
about:
Incorporation
The charity is an Association
Charitable
Incorporated
Organisation
assets and activities
having been transferred
to the CIO on 1"April
with
2019.
~ policies and procedures
adopted for the induction
and training oftrustees;
Church Deacons and Minister (The Trustees)
Deacons and the minister
(who are the charity trustees) are responsible
for giving leadership
to the church,
managing
its finances and overseeing
~ the charity's
organisational
its buildings
and activities.
structure
and any wider
Church Elders
network
with which the
The Church
had four elders to assist the Pastor with pastoral
and spiritual
charity works; duties.
~ relationship
with any
Other Networks
-Churches Together
in Cardigan
related parties; The Charity works with three other Cardigan
churches
on joint projects
such as the Summer
Family Funday,
Annual
Good Friday March of
~ trustees'
consideration of
Witness and Open Air Service. These activities were suspended
during
major risks and the system
and procedures
to manage
them.
the pandemic
and so did not take place during the reporting
period. We
expect to resume at least some of these
in FY2022/23. Teifi Street
Pastors which operated
until the Covid lockdown
will not resume
operation
after the pandemic.
Risk Management
A Risk Register exists for all major risks and is reviewed
by
the Trustees
at least annually.
The charity has a number ofseparate documents
covering
risk including:
~
Health and Safety
~
Safeguarding
and Protection
Policy
~
Pediodic Risk Reviews ofthe buildings
the charity occupies.
~
Data Protection
~
Social media use

Brief statement ofthe Brief statement ofthe Brief statement ofthe The charity aims to hold unrestricted
funds to cover 3 months'
charity's
policy on reserves
expenditure.
At the close ofthe financial year 2020/2021 unrestricted
cash held was in excess of3 months
expenditure.
Details ofany funds No funds
in deficit.
materially
in deficit
Further financial
review
details (Optional
information)
You may choose to include
additional
information,
where
relevant about:
Due to the impact ofthe pandemic,
there was a small overspend
on
unrestricted
activity (f961),while restricted
funds reduced
byf6157
chiefly from spending
on the youth centre project, church development,
~ the charity's
principal
bookshop
loss and building
maintenance
overspend.
sources offunds
(including
any
fund raising);
The Trustees
review the financial
position each month and actions are
taken to reduce costs to offset the reduction
in giving and other income.
for example
reviewing
utility costs. This is an ongoing process, with the
~ how expenditure
supported
the key
has aim to ensure that unrestricted
reserves do not fall below 3months
expenditure
(at the end ofthe financial year unrestricted
reserves
objectives ofthe charity; Members
and regular worshippers
are encouraged
to give via the Gift Aid
~ invesnnent
policy and
objectives including
any
scheme and during 2020/2021 this source of income decreased
slightly
from f55,454 tof52,414
ethical investment policy Due to the Covid pandemic
the church
building
was not open for public
adopted. worship
during
the whole ofthe financial year. With no weekly offerings
being taken giving was encouraged
direct to bank or through
the on-line
portal "Just Giving". Unrestricted
non-gift aided giving decreased
from
f32,284 to F14,014.
The regular
financial support ofmembers
and worshippers
has enabled
the charity to employ
not only a full-time
minister
but also a part-time
youth worker and other part-time
staff to support
its work in the
community.
Given the current
low rate of interest on cash balances, the church does
not currently
hold any investments.
It relies upon and uses regular
giving
to fulfil its objectives rather than building
up capital reserves.
It is
anticipated
that an investment
policy will be adopted
during 2021/2022
should
it be found necessary
to invest surplus
funds.
III
O0Z
IDI!
C
II!
74
Unrestricted Restricted
income
Endowment Total this Total last
00 funds funds
E
funds
6
year
f
year
6
Fixed assets F01 F02 F03 F04 F05
Intangible assets
Tangible assets
(Note 15)
(Note 14)
167,932 167 932 168870
Heritage assets (Note 16)
Investments (Note 17)
Total fixed assets
7 932 167 93
Current assets
Stocks (Note 18) 8 073 8 073 7831
Debtors (Note 19) B07 12 412 12,412 15,858
Investments
Cash at bank and in
(Note 17.4)
hand (Note 24)
Total current assets
B10 564
68
1 839
912
58
7
25
10
7649
Creditors: amounts
falling due within
one year
(Note 20)
B11 5,391 397 5 788 22 136
Net cunent assetsl(liabilities) B12 507 95 022 79
Total assets less cunent liabilities B13 23 9 51 24 954 24 072
Creditors: amounts falling due after one
year
(Note 20)
B14
Provisions for liabilities B15
Total net assets or liabilities B16 14 515 240 248
Funds ofthe Charity
Endowment
funds (Note 27)
B17
Restricted income funds
(Note 27)
B16 28584
Unrestricted
funds
B10 218 527 22 427 240 954 219488
Revaluation
reserve
Total funds B21 218 527 240 954 248072
Signed
by one or two
the trustees
trustees on behalf of all Signature Print Name Dais of
approval
dd/mm/
r(,()I,CU(k/ N(/u (4)tRB4 7 to(/t.
('(.=770' 8 (/fm
Settlement
clalrrrs
ofinsurance Insurance
claims are only included
In the SoFA when the general income recognition
criteria are met (5.10tc5.12FRS102SORP) and are induded as an Item ofother
income
in the SoFA.
Insurance
claims are only included
In the SoFA when the general income recognition
criteria are met (5.10tc5.12FRS102SORP) and are induded as an Item ofother
income
in the SoFA.
This includes any realised or unrealised
gains orlosses on the sale of investments
and
any gain or loss resulting
from revaluing
investments
to market value st the end ofthe
'jean.
2.3EXPENDITURE AND LIABILITIES
Liabgfiy recognition Liabilities are recognised where
it is more likely than not that there is a legal or
Yes No N/s
constructive
obligation
commltgng
the charity to pay out resources and the amount
obligation can be measurml
with reasonable
certainty.
governance
ofthe v'
Governance and support Support costs have been agocsted behvaen
costs and other support.
Governance
costs comprise ag costs involving
public accountability ofthe charity and its
es No N/a
compliance
with regulation
and good practice.
Support costs include central functions snd have been agocated to activity cost
categorie on a basis consistent
with the use ofresources, eg agocatlng
property costs
by floor areas, or per capita, staff costs by the time spent and other coals by their usage.
Grants with performance Where the charity gives a grant with conditions for Its payment
being s speciffc level
service or output to be provided,
such grants are only recognised
In the SoFA once
of
the
recipient ofthe grant has provided
the spec)fed service oroutput
Grants payable without
pe/for/trance
coridltlone
Where there are no conditions
attaching
tothe grant that enables the donor charity to
realistically
avoid the commitmenL
a liability for Ihe full funding
obligation
must be
recognised.
Redundancycost The charity made no redundancy
payments
during the reporgng
period.
Deferred income No materia
item ofdeferred income has been included
in the accounts.
The ohsrity has creditors which are measured at settlement
amounts less any trade
discounts
A gabigty is measuirxt
on recognition at its historical cost and then subsequently
Provisions for liabilities measured
al the best estimate ofthe amount
required
to setge the obligation at the
reporting date
fiasic financial
instruments
The charity accounts for basic gnan cist instruments
on initia
I recognition as per
paragraph
10.7FRS102SORP. Subsequent
measurement
is as per paragraphs
11.17
to 11.19,FRS102SORP.
Yes No N/a
2v4 ASSETS
Tangible fixe assets for These srs capitalised
ifthey can be used for more than one year, and costat least
use by charity They are valued atcost Yes No N/a
The depreciation
rates and methods used are discfosed
in note 9.2.
intangible tixed assets The charity has intangible
fixed assets, that is, non-monetary
assets that do not have
Yes No N/s
physical substance
but are identfiable
and are controlled
by the charity through
custody
or legal rights.
The amortisatlon
rates and methods used are disclosed
in note 9.5
as No N/a
They are valued at cost.
Heritage assets The charity has heritage assets, that is, non-monetary
assets wiih historic, artistic,
scienkyic. technological,
geophysical
or environmental
qualities that are held
and
maintained
principally
for their contribution
to knowledge
and culture.
The depreciation
rates and methods
used as disrlosed
in note 9.6.1AL
CZO
They are valued st cosL
Investments Fixed asset investments
in quoted shares, traded bonds and similar investments
are
valued at initlagy st cost and subsequently
at fair value (their market value) st the year
end. The same treatment
Is appged
to unlisted
investmerns
unless fair value cannot
be
measured
reliably
in which case It Is measured
atcost less impairment.
Investments
held for resale or pending
their sale and cash and cash equivalents
with
a Yes No N/a
maturity
date ofless than I year are treated as current asset investments
Stocks and work in Stocks held for sale as part ofnon-charitable
trade are measured
at the lower orcost or net
progress reslissble
value.
Goods or services prOvided as pari ofa charitable
activity are measured st net reslisable
value Yes No N/a
based on the service potential
provided
by items ofstock.
Work in progress
is valued atcost less any foreseeable loss that is likely to oocur on
the contract
Debtors (including trade debtors and loans receivable) sre measured
on initial recognition
at
Yes
Debtors seglement
amount
after any trade discounts or amount advanced
by the charity.
Subsequently,
they are measured at the cash orother consideration
expected to be received.
Current asset investments The charity hss Investments
which
it holds for resale or pending
their sale and cash and cash
equivalents
with a maturity date less than one year. These include cash on deposit and cash
equivalents
with a maturity date ofless than one year held for investment
purposes
rather than to
Yes Nls
meet short term cash commitments
as they fall due.
Yes No Nf
They are valued at fair value except where they qualify as basic financial instruments.
Note 3 Analysis of Analysis of Analysis of Analysis of income income income Source Source
Rccmclcd
unrectrhled Income Enccwwenl Glfl Aid
Ana Is funds funds funds yciei Iumlc Prim ycf Recit Unrwitr
Donations Donagons and dls 17419 782 18201 44 304 52414
snd legacies: Gift Aid 65.518 1 5'75 67093 84334 1575 13104
Le acies 0
General grants provided by government/other
charities 2000 9500 1575 65516
Membership subscriphons snd sponsorshlps
which am In substance donathns
Donated cods, facilges and servhes
Other 3,222 3,222 2,897 National insurance allowance
Total 86,159 4,357 90,516 141,035
Charitable
aedvMesi
2427 2427 g 450
Other
Total 2,427 2A27 9450
&her trading
activities:
Other
Total
Income from Interest income
Investmenls: Dividend income
Rental and leasin income
Other
Total
Separate
materiel
Nem
ofIncome:
Total
Other. Conversion ofendowment funds into income
Gain on
forcha
disposal ofe tangible
's owii use
bred asset held
Gain on disposal of a programme
related
investment
Royalties from the exploitation ofintellectual
rl hte
Other
Total
TOTAL INCOME 86159 6784 92,943 150,485
Other liiforleadolii
626,766wss restncted
income compnsing: B!450Scotshop
Ag Income ln the prior year
(phase provide descripdon
was unrestricted
end amounts)
except for. sales E5660for youth sdivitias, f1127for churches together
mission, 6755special collemions,
62282 tor men's miriistry,
E965for ssmsu community
church E4,650for church
Development f1250for CAP (Chris6ens Against Poverty)
Where any endowment
fund
ls converied into income In Ihe
repordng
period,
please give the reason fm the comrersion.
Wuhin the Income items abave Ihe following items are
msterlaa (phase disclose the nature, amount snd any prior
year amounts)
Note 4 Analysis ofreceipts ofgovernment
grants
This year Last year
Description K
Government grant 1
Government grant 2
Government grant 3
Other
Total
Please provide details ofany
unfulfil/ed conditions and other
contingencies
attaching
to grants
that have been recognised inincome.
Please give details ofother forms of
government assistance from which
the cliarity has dimctly benefited.
Note 5 Donated goods, facilities and services
This year Last year
Seconded staff
Use ofproperty
Other
Please provide details ofthe
accounting
policy for
the recognition
and valuation
ofdonated goods,
facilities and services.
Please provide details ofany
unfulfilled
conditions
and other
contingencies
attaching to resources
from donated goods and services not
recognised
in income.
Please give details of other forms of
other donated goods and services not
recognised
in the accounts, eg
contribution
ofunpaid
volunteers.
Note 6 Analysis ofexpenditure Analysis ofexpenditure Analysis ofexpenditure
Restricted
Unrestricted income Endowment
funds funds funds Total funds Prior year
Anal sis
Expenditure on Incurred seeking donations
raising funds: Incurred seeking legacies
Incurred
seeking grants
Operating
membership
schemes and
social lotteries
Staging fundraising
events
Fundrsising
agents
Operating
charity shops
—Bookshop 3678 3,678 10404
Operating a trading
company
undertaking
norucharitable
trading
activi
Advertising,
marketing,
'
direct mail and
li
Start up costs incurred in generating
new source offuture income
Database development costs
Other trading
activiTies
Investment
management
costs:
Porffolio mana
ament costs
Cost ofobtaining
investment
advice
Investment
administration
costs
Intellectual
property
licencing
costs
Rent collection, property repairs and
maintenance
charges
Total expenditure
on raising
funds 3,678 3,678 10,404
Expenditure on Pastoral Costs 34,826 34,826 38,490
charitable
activities
Youth Activities 25422 2228 27650 29503
Missionary
/ Outreach
Activity
8,980 1,858 10,838 17917
Church
Development
4175 4 175 22518
Church Expenses 15868 1 002 16870 22 959
Depreciation 2,024 2024 4738
Total expenditure
on charitable
activities
87,120 9,263 96,383 136,125
Separate material
item ofexpense
Total
Other
Total other expenditure
TOTAL EXPENDITURE 87,120 12,941 100,061 146,529
Note 7 Extraordinary items
Please explain the nature ofeach extraordinary item occurring in the period.
This year Last year
Descri tion R R
Extraordinary item 1
Extraordinary item 2
Extraordinary item 3
Extraordinary item 4
Total extrordinary items

Amount received Amount aid out Balance held at period end Balance held at period end
Description/name ofparty Related
party (Yes
This year Last year This year Last year This year Last year
or No
Total
Description/name ofparty Balance held at period end
This year
Last year
Basis of
Raising funds Activity 1 Activity 2 Activity 3 Grand total agocatlcn
Supportcost sari
exam les method)
Governance
Other
Total
was paid p lease en ter '0 'in the appropriate
box(es).
This year
f
Last year
Independent examiner's fees
600 570
Assurance services other than audit or independent examination
Tax advisory fees
Other fees (for example: financial advice, consultancy, accountancy services) paid
to the independent examiner

13.1 A nal ysis ofgra nts paid (in cluded
in cost ofcharitab
le
activities)
Grants to Grants to
Anal is institutions individuals Su ort costs Total
Activity or project 1
Activi or ect 2
Activi or ro'ect 3
Activi or rcect4
Total

13.2Grants made to institutions
giy charity has made grants to particularinstitutions
that are material in
the context ofits grantmaklng.
Details oftheinstitution
supported,
purpose ofthe grant and total paid toeach institution
is available on the
charity's
web site.
Yes
No
Please provide
details ofcharity's
VRL.
Provide details
below
Names ofinstitution
Purpose
Total amount of
rants
aid E
Research & Patents and Other Total
development trademarks
At beginning ofthe
year
Additions
Disposals
Revaluations
*
Transfers
At end of the year
15.2Amortisation and impairments
Basis SLor RB SLor RB SLor RB SL —Life not Straight Line
exceeding ("SL")or
lease term Reducing
Balance
("RB")
Rate
At beginning of the
year
Disposals
Amortisation
Impairment
Transfers*
At end ofyear
15.3Net book value
Nat book value at the
beginning of the year
Net book value at the
end ofthe year

ash h cash
equivalents
Listed
Investmenls
Investment
pmpelfl8$
Social
lllveshrlcrlls
Total
Canying
(fair) value at
beginning of
period
Add: addilions to investmenls
during
period'
Less:disposals at carrying
value
Less: Impairmenls
Add: Revemal ofimpairmants
Addi(deduct):
transfer
in/(out)
in
the
perod
Add/(deduct):
net gain/(loss)
on
revaluascn
Canying
(fair) value ai
end ofyear
*Please specify addmons
resumng
from
acquisitions
Ihrough
business combinations,
If
any.
Please note that Fa/r Value In this eonlmrt Is the amount for which nn asset coukf be exchanged between
knornlegah/send
wil/ing
partiec
in an ann'a lenglh transect/on. Fortraded aecmh/es, the fa/r eefus Is the value
ofthe securffy quoted on the London Stock Exchange Dairy officle/ L/sl orequlrehwr. Fororner assets whwu
them Isno memet price on eceded marl et, /I is Ihe trustees' or va/uem' hest eat/male offair value.
Cash orcash equivalents
Listed investments
Investment
properges
fioclal Inveslmenls
Other Invsshnents
Total
Grand total (Fairvalue at year end+Cost less Impairment)
1'/.3 Ifyour charity holds Investment properties, please complete the following note:
(i) Explain the methods
and significant
assumpfions
In detemrlnlng
Ihe fair value of
Investment
properly
held by the charity
(il)
Name or Independent
valuer,
Ifappgcable,
and mlevant
qualificafions
(gl)
Provide delafis ofany
mstrlctlons on the
abfifiy to malice Investment properly or on the
~emltlanae ofInsome or disposal proceeds
(IV)
Explain any contramual
obfigations
for the
purshase,
construcdon
or
development of
Investment
property orfor
repairs, maintenance
orenhancemenls
17.4 Please provide a breakdown of of current current asset investments, ifapplicable, agreeing with the
balance sheet.
Analysis ofcumsnt asset This y8ef Last year
investmenls
Cash otcash equivalents
Lbted investmsnts
Investment
properges
facial iavsshtranls
Othsf Invusllrlsnts
Total
12.5Guarantees
Please provide detags and amount of any
guarantee
made looron behalf ofathird
party
Name ofths sntiiy orentities benefrttlng from
those gusrsrrlsse
Please espbin how Ihe guarantee
furthers
the
charity'8 aims
12.6Concesslonary
loans
Dsecripticn Thlsyearfi Lest ysarf
Amount ofconeessionary
loans made
(martinis
loans made smy be disclosed in eggregsm Provided
reef sccaegcregatfon does not obsere signincent
intonnsdon).
Toret
pescription Thisyearfi Lastysarfi
Amount ofconcssslonary
loans received
(Nuitiprs loans received may bs discfossd in
eggmgere
pnrvidiuf inst such aggregation
does not
oosure ngniscent
fntonnstionk
Tenne and conditions
eg Interest rata,
security
pravlded
Value ofany conceesionary
loans which
have
bean committed
but not taken up at the
reporting
data
Amounts
payable within
1year
Amounts
payable alter more than 1year
Amounts
receivable
within 1year
Amounts
receivable afar more than 1
year
1'f.TAdditianal
Information
Please provide Informadon
about the
slgnglcance
ofinvestments
tothe charity's
financial posfiion or performance
eg.terms and
condfiions ofloans or Ihe use of hedging lo
manaae financlal risk.
Forag Inveslmenrs
measured
atfair value,
the
hash for determining
Ihe value, Including
any
assumptions
applied when using avaluation
technlfiue.
Where acharily has pmvlded
financlal
assets as
aform ofsecurity, the canylng
amount
of the
frnanelsl asset pledged as securlly and Ihs tenne
end condifions telating to its pledge.
18.1 Pleas
activities.
e state the carrying amount ofsto ck and w ork in progress ana lysed
betwe
en
Stock Donated goods
Work In
For For resale For For resale progress
distribution distribution
Charitable activities:
Opening 7,831
Added in period 2,326
Expensed in period 2,084
impaired
Closing 8,073
Other trading activities:
Opening
Addedin period
Expensedin period
impaired
Closing
Other:
Opening
Added in period
Expensed in period
impaired
Closing
Total this year 8,073
Total previous year 7,831

debtor s orprepayments. s orprepayments.
19.1 Analysis ofdebtors This year Last year
Trade debtors
Prepayments and accrued income 311 3,561
Other debtors 12,101 'I2,297
Total 12,412 15,858
Trade debtors
Prepayments and accrued income
Other debtors
This year Last year
E
11,635 11,803
Total

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Note 27 Charity funds (cont) (cont)
27.3 Transfers between funds
Reason for transfer and where endowment is converted to income, Amount
legal power for its conversion
Between unrestricted and The building maintenance fund is credited with the estimated average E1,002.40
restricted funds annual cost ofmaintenance and debited with actual maintenance costs.
No other transfers have been made between restricted and unrestricted
funds.
Between endowment and
restricted funds
Between endowment and
unrestricted
funds
27.4 Designated funds
Planned use Purpose ofthe designation Amount


Infemst, Including
where funds have been hel
True'In the boxprovided.
d as agent for m isled parties. Ifthere are n o such Iransactlons,
pl
ease enter
Them have been no related party transactions in the reporting period (True orFalse) TRUE
Amounts
Name ofIhe trustee
or related party
Relationship
to chartty
flescrt ptlon ofthe
transaofion(s)
Amount Balance st
period end
Provision for bsd
debts at period end
written off
during
reporting
In relation to the transactions
above, please provide the
tenne and conditions,
including
any securtty
snd the nature
ofany payment
(consideration)
to be pmvided
in
settlement.