| CONTENTS | CONTENTS | Page | ||
|---|---|---|---|---|
| Trustees' | Report | 1-17 | ||
| Auditors' | Report | 18—20 | ||
| Statement | of FinancialActivities | 21-23 | ||
| Summary | of Income and Expenditure | Account and | 24 | |
| Statement | ofTotal Recognised | Gains | and Losses | |
| Balance Sheet | 25 | |||
| Cashflow | Statement | |||
| Notes to | the Accounts | 27-52 |
THE ST DAVID DIOCE&4N BOARD OF FINANCE
| Clergy Stipend Levels |
2020 | 2019 |
|---|---|---|
| Assistant Curate |
21,559 | 21,115 |
| Incumbent and Vicar in Rectorial Benefice |
25,363 | 24,841 |
| Rector of Rectorial Benefice | 26,631 | 26,083 |
| Residentiary Canon |
29,167 | 28,568 |
| Archdeacon | 38,805 | 38,007 |
| Dean | 39,313 | 38,505 |
| Forthe Year Ended 31Decemb | Forthe Year Ended 31Decemb | er 2020 | er 2020 | ||||
|---|---|---|---|---|---|---|---|
| Note | Unrestricted | Restricted | Total | ||||
| General | Designated | Income | Capital | Funds | |||
| Funds | Funds | Funds | Endowment | ||||
| Funds | |||||||
| 2020 | 2020 | 2020 | 2020 | 2020 | |||
| f | f | 6 | f | f | |||
| INCOME AND | ENDOWMENTS | FROM: | |||||
| Donations | and Legacies | 5,872,709 | 8,576 | 892,513 | 600 | 6,774,398 | |
| Charitable | Activities | 19,597 | 19,597 | ||||
| Investments | 125,429 | 62,296 | 233,295 | 82,170 | 503,190 | ||
| Other Sources | 9,768 | 36,228 | 45,996 | ||||
| TOTAL | 6,027,503 | 70,872 | 1,162,036 | 82,770 | 7,343,181 | ||
| 2019 f |
2019 f |
2019 f |
2019 f. |
2019f | |||
| INCOME AND | ENDOWMENTS | FROM: | |||||
| Donations | and Legacies | 3 | 4,438,020 | 12,666 | 724,212 | 8,036 | 5,182,934 |
| Charitable | Activities | 18,787 | 40 | 18,827 | |||
| Investments | 157,682 | 92,355 | 264,584 | 79,090 | 593,711 | ||
| Other Sources | 54,893 | 36,091 | 90,984 | ||||
| TOTAL | 4,669,382 | 105,061 | 1,024,887 | 87,126 | 5,886,456 |
| Forthe Year Ended 31Decembe | Forthe Year Ended 31Decembe | r 2020 | r 2020 | ||||
|---|---|---|---|---|---|---|---|
| Note | Unrestricted | Restricted | Total | ||||
| General | Designated | Income | Capital | Funds | |||
| Funds | Funds | Funds | Endowment | ||||
| Funds | |||||||
| 2020 | 2020 | 2020 | 2020 | 2020 | |||
| EXPENDITURE ON: | f | f | f | f | f | ||
| Raising Funds | 5,971 | 8,735 | 1,977 | 21,921 | 38,604 | ||
| Charitable | Activities | ||||||
| Support | for Ministry | 8 | 3,733,972 | 84,336 | 933,219 | 4,751,527 | |
| Support | for Parishes | 9 | 2,178,976 | 143,843 | 3,474 | 2,326,293 | |
| Church | Property | 10 | 111,547 | 22,247 | 133,794 | ||
| Other Financial Support | 138,860 | 138,860 | |||||
| Communication | 12 | 32,009 | 32,009 | ||||
| Other | 13 | 10,789 | 131,392 | 142,181 | |||
| TOTAL | 6,201,335 | 247,703 | 960,917 | 153,313 | 7,563,266 | ||
| 2019 | 2019 | 2019 | 2019 | 2019 | |||
| EXPENDITURE ON: | f | f | E | ||||
| Raising Funds | 6,289 | 9,247 | 1,578 | 24,852 | 41,966 | ||
| Charitable | Activities | ||||||
| Support | for Ministry | 8 | 3,805,517 | 146,171 | 719,085 | 4,670,773 | |
| Support | for Parishes | 421,732 | 201,630 | 623,362 | |||
| Church | Property | 10 | 171,978 | 469,741 | 641,719 | ||
| Other Financial Support | 149,350 | 149,350 | |||||
| Communication | 12 | 48,733 | 48,733 | ||||
| Other | 268,944 | 268,944 | |||||
| TOTAL | 4,603,599 | 357,048 | 1,190,404 | 293,796 | 6,444,847 |
| Forthe Year Ended 31Decembe | Forthe Year Ended 31Decembe | r 2020 | r 2020 | |||
|---|---|---|---|---|---|---|
| Note | Unrestricted | Restricted | Total | |||
| General | Designated | Income | Capital | Funds | ||
| Funds | Funds | Funds | Endowment | |||
| Funds | ||||||
| 2020 | 2020 | 2020 | 2020 | 2020 | ||
| NET INCOME /(EXPENDITURE) | ||||||
| BEFORE INVESTMENT GAINS | (173,832) | (176,831) | 201,119 | (70,543) | (220,087) | |
| NET (LOSSES)ON INVESTMENTS | 18 | (7,505) | (10,961) | (928) | (23,024) | (42,418) |
| NET INCOME/(EXPENDITURE) | (181,337) | (187,792) | 200,191 | (93,567) | (262,505) | |
| TRANSFERS BETWEEN FUNDS | 24/25 | 2,888 | 30,612 | (25,000) | (8,500) | |
| NET MOVEMENT IN FUNDS |
(178,449) | (157,180) | 175,191 | (102,067) | (262,505) | |
| Total Funds Brought Forward | 5,837,367 | 2,552,089 | 1,857,444 | 3,963,755 | 14,210,655 | |
| TOTAL FUNDS CARRIED FORWARD | 5,658,918 | 2,394,909 | 2,032,635 | 3,861,688 | 13,948,150 | |
| 2019 | 2019 | 2019 | 2019 | 2019 | ||
| f | 6 | f | E | f | ||
| NET INCOME /(EXPENDITURE) | ||||||
| BEFORE INVESTMENT GAINS | 65,783 | (251,987) | (165,517) | (206,670) | (558,391) | |
| NET GAINS ON INVESTMENTS | 18 | 125,724 | 148,094 | 5,995 | 344,038 | 623,851 |
| NET INCOME/(EXPENDITURE) | 191,507 | (103,893) | (159,522) | 137,368 | 65,460 | |
| TRANSFERS BETWEEN FUNDS | 24/25 | 197,054 | (101,133) | (88,014) | (7,907) | 0 |
| NET MOVEMENT IN FUNDS |
388,561 | (205,026) | (247,536) | 129,461 | 65,460 | |
| Total Funds Brought Forward | 5,448,806 | 2,757,115 | 2,104,980 | 3,834,294 | 14,145,195 | |
| TOTAL FUNDS CARRIED FORWARD | 5,837,367 | 2,552,089 | 1,857,444 | 3,963,755 | 14,210,655 |
| 2020f | 2019 f |
|||||
|---|---|---|---|---|---|---|
| Gross Income (per SOFA) | 7,343,181 | 5,886,456 | ||||
| Expenditure (per SOFA) |
(7,563,268) | (6,444,847) | ||||
| Operating (Deficit)/Surplus For the Year |
(220,087) | (558,391) | ||||
| Realised Gains on Investments | ||||||
| Realised gains/losses on Investments |
(19,522) | 153,514 | ||||
| Realised gains on investment | properties | 54,010 | ||||
| Realised gains on fixed assets | ||||||
| (19,522) | 207,524 | |||||
| (239,609) | (350,867) | |||||
| Unrealised Gains on Investments |
||||||
| Revaluation (Loss)/Gain on Investment |
Property | |||||
| Unrealised Gains/(Losses) on |
Investments | (22,896) | 416,327 | |||
| Revaluation (Loss) on Fixed Assets |
||||||
| Valuation of Properties Introduced |
||||||
| (22,896) | 416,327 | |||||
| (DEFICIT)/SURPLUS FOR THE YEAR |
(262,505) | 65,460 |
| Notes | 2020 | 2020 | 2019 | 2019 | |||
|---|---|---|---|---|---|---|---|
| f | E | E | E | ||||
| FIXEDASSETS | |||||||
| Tangible Assets | 17 | 227,145 | 230,272 | ||||
| Investments | 18 | 8,888,056 | 9,049,955 | ||||
| 9,115,201 | 9,280,227 | ||||||
| CURRENT ASSETS | |||||||
| Debtors | 19 | 869,918 | 901,565 | ||||
| Investments | 20 | ||||||
| Cash at Bank | and in Hand | 5,893,696 | 5,797,358 | ||||
| 6,763,614 | 6,698,923 | ||||||
| CREDITORS: | Due Within One Year | 21 | (1,550,390) | (1,388,220) | |||
| NET CURRENT ASSETS | 5,213,224 | 5,310,703 | |||||
| TOTAL ASSETS LESS CURRENT | LIABILITIES | 14,328,425 | 14,590,930 | ||||
| CREDITORS: | Due More Than | ||||||
| One Year | 22 | (380,275) | (380,275) | ||||
| NET ASSETS | 13,948,130 | 14,210,655 | |||||
| FUNDS | |||||||
| Restricted Capital Endowment |
Funds | 23 | 3,861,688 | 3,963,755 | |||
| Restricted Income Funds |
24 | 2,032,635 | 1,857,444 | ||||
| Designated Funds |
25 | 2,394,909 | 2,552,089 | ||||
| Unrestricted | Funds | 26 | |||||
| Revaluation | Reserve Fund | 1,678,765 | 1,678,765 | ||||
| General Funds |
3,980,153 | 4,158,602 | |||||
| 5,658,918 | 5,837,367 | ||||||
| 13,948,130 | 14,210,655 |
| Notes | Notes | 2020 | 2019 | |||||
|---|---|---|---|---|---|---|---|---|
| f | f | |||||||
| 28 | ||||||||
| Net Cash provided by/(used in) operating |
activities | (505,705) | (477,936) | |||||
| Cash flows from investing activities: |
||||||||
| Dividends, interest and rents from investments |
503,190 | 593,711 | ||||||
| Purchase of property, plant and equipment |
(3,327) | (6,543) | ||||||
| Proceeds from the sale offixed assets | 124,011 | |||||||
| Proceeds from the sale ofinvestments | 672,699 | 1,039,728 | ||||||
| Purchase of investments | (690,447) | (824,050) | ||||||
| Net Cash provided by/(used in) investing |
activities | 482,115 | 926,857 | |||||
| Cashflows from financing activities: | ||||||||
| Receipt ofendowment | 600 | 8,036 | ||||||
| Change in cash and cash equivalents in the |
reporting | period | (22,990) | 456,957 | ||||
| Cash and cash equivalents at the |
28 | 6,058,165 | 5,601,208 | |||||
| beginning ofthe reporting period |
||||||||
| Cash and cash equivalents at the end of |
the | reporting | period | 6,035,175 | 6,068,166 |
| F | orthe Year Ended 31De | orthe Year Ended 31De | cem | ber 20 | 20 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| otes | Unrestricted | Restricted | Total | |||||||||
| General | Designated | Income | Capital | Funds | ||||||||
| Funds | Fund | Funds | Endowment | |||||||||
| Funds | ||||||||||||
| 3 | Donations | and | Legacies | 2020 | 2020 | 2020 | 2020 | 2020 | ||||
| f | f | f | f | f | ||||||||
| Ministry Share | 3,763,471 | 3,763,471 | ||||||||||
| RB:Block | Grant | 715,997 | 426,195 | 1,142,192 | ||||||||
| RB:Additional | Support | 1,374,728 | 1,374,728 | |||||||||
| RB:Improvement | Fund | 267,112 | 267,112 | |||||||||
| RB:Evangelism | Fund Grant | 171,329 | 171,329 | |||||||||
| Grants | 18,333 | 21,624 | 39,957 | |||||||||
| Legacies | 8,576 | 600 | 9,176 | |||||||||
| Donations | 180 | 6,253 | 6,433 | |||||||||
| Contributions | ||||||||||||
| 5,872,709 | 8,576 | 892,513 | 600 | 6,774,398 | ||||||||
| In 2020f12,124 ( | 2019:f12,124)was received as a grant | from | the | Allchurches | Trust Limited. | |||||||
| 3 | Donations | and Legacies | 2019 | 2019 | 2019 | 2019 | 2019 | |||||
| f | f | f | f | |||||||||
| Ministry Share | 3,567,932 | 3,567,932 | ||||||||||
| RB:Block | Grant | 751,024 | 391,167 | 1,142,191 | ||||||||
| RB:Improvement | Fund | 224,851 | 224,851 | |||||||||
| Grants | 8,333 | 12,276 | 33,624 | 54,233 | ||||||||
| Legacies | 110,000 | 74,240 | 8,036 | 192,276 | ||||||||
| Donations | 731 | 390 | 330 | 1,451 | ||||||||
| Contributions | ||||||||||||
| 4,438,020 | 12,666 | 724,212 | 8,036 | 5,182,934 | ||||||||
| 4 | Chadtable | Activities | 2020 | 2020 | 2020 | 2020 | 2020 | |||||
| f | f | f | f | f | ||||||||
| Chaplaincy | Fees | 19,597 | 19,597 | |||||||||
| Fundraising | ||||||||||||
| 19,597 | 19,597 | |||||||||||
| Charitable | Activities | 2019 | 2019 | 2019 | 2019 | 2019 | ||||||
| f | f | f | f | |||||||||
| Chaplaincy | Fees | 18,787 | 18,787 | |||||||||
| Sale of Publications | 40 | 40 | ||||||||||
| 18,787 | 18,827 |
| Forth | e Year Ended 31December 20 | e Year Ended 31December 20 | 20 | 20 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| otes | Unrestricted | Restricted | Total | |||||||
| General | Designated | Income | Capital | Funds | ||||||
| Funds | Fund | Funds | Endowment | |||||||
| Funds | ||||||||||
| 5 | Investments | 2020 | 2020 | 2020 | 2020 | 2020 | ||||
| f | E | f | f | f | ||||||
| Rents Received | 91,229 | 20,105 | 111,334 | |||||||
| RBCommon | investment | Fund | 74 | 74 | ||||||
| DBFCommon | Investment | Fund | 23,623 | 40,654 | 2,941 | 80,915 | 148,133 | |||
| Rents Received: Parsonage | Board | 200,514 | 200,514 | |||||||
| Interest | 10,503 | 2,990 | 9,735 | 1,255 | 24,483 | |||||
| Realisation ofTrusts | 18,652 | 18,652 | ||||||||
| 125,429 | 62,296 | 233,295 | 82,170 | 503,190 | ||||||
| 5 | Investments | 2019 | 2019 | 2019 | 2019 | 2019 | ||||
| f | f | f | f | f | ||||||
| Rents Received | 109,169 | 19,938 | 129,107 | |||||||
| RBCommon | investment | Fund | 94 | 94 | ||||||
| DBFCommon | Investment | Fund | 30,846 | 53,493 | 33,692 | 76,087 | 194,117 | |||
| Rents Received: Parsonage | Board | 188,564 | 188,564 | |||||||
| Interest | 17,573 | 8,262 | 22,390 | 3,003 | 51,228 | |||||
| Realisation ofTrusts | 30,601 | 30,601 | ||||||||
| 157,682 | 61,754 | 264,584 | 79,090 | 593,711 | ||||||
| 6 | OtherSources | 2020 | 2020 | 2020 | 2020 | 2020 | ||||
| f | f | E | f | f | ||||||
| ContributionrHousing | Association | 6,340 | 6,340 | |||||||
| Proceeds from the sale ofassets | ||||||||||
| Administration | Fee:Sale of | Property | ||||||||
| Marriage Licences |
2,130 | 2,130 | ||||||||
| Church Repair Grant |
36,000 | 36,000 | ||||||||
| Sundry Income | 1,298 | 228 | 1,526 | |||||||
| 9,768 | 36,228 | 45,996 | ||||||||
| 6 | Other Sources | 2019 | 2019 | 2019 | 2019 | 2019 | ||||
| E | E | E | ||||||||
| Contribution: Housing |
Association | 6,210 | 6,210 | |||||||
| Proceeds from the sale ofassets | 22,365 | 22,365 | ||||||||
| Administration | Fee:Sale of | Property | 24,750 | 24,750 | ||||||
| Marriage Licences |
1,320 | 1,320 | ||||||||
| Church Repair Grant |
36,000 | 36,000 | ||||||||
| Sundry Income | 249 | 91 | 340 | |||||||
| 54,893 | 36,091 | 90,984 |
| Notes | Notes | Unrestricted | Unrestricted | Restricted | Restricted | Total | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| General | Designated | Income | Capital | Funds | |||||||
| Funds | Fund | Funds | Endowment | ||||||||
| Funds | |||||||||||
| 2020 | 2020 | 2020 | 2020 | ||||||||
| 7 | Raising Funds | f | f | f | f | ||||||
| 5,971 | 8,735 | 1,977 | 21,921 | 38,604 | |||||||
| 7 | Raising Funds | 2019 | 2019 | 2019 | 2019 | 2019 | |||||
| 6,289 | 9,247 | 1,578 | 24,852 | 41.966 | |||||||
| 8 | Support for Ministry | 2020 | 2020 | 2020 | 2020 | 2020 | |||||
| f | f | f | f | ||||||||
| Stipends, Fees 8 |
Pensions | ||||||||||
| Stipends | 2,363,871 | 42,953 | 2,406,824 | ||||||||
| Pension-Employers | Contribution | 767,740 | 14,164 | 781,904 | |||||||
| Vacancy Fees | 6,710 | 6,710 | |||||||||
| Sundry | |||||||||||
| Property | |||||||||||
| Council Tax | 178,067 | 178,067 | |||||||||
| Parsonage Board |
849,046 | 849,046 | |||||||||
| Insurance on |
Personages | 21,585 | 21,585 | ||||||||
| Sundry | 5,535 | 5,535 | |||||||||
| Evangelism Bid —Centre |
of | Mission | 13,847 | 20,344 | 84,173 | 118,364 | |||||
| Clergy Expenses | |||||||||||
| Clergy/Chaplains | Expenses | 2,169 | 2,169 | ||||||||
| Removal/Disturbance | Allowance | 30,059 | 30,059 | ||||||||
| Archdeacons | and | Area | Deans | 6,245 | 2,736 | 8,981 | |||||
| Recruitment | Costs | 997 | 997 | ||||||||
| Training | |||||||||||
| Ordinands/NSM | 27,139 | 4,139 | 31,278 | ||||||||
| lay Training | 526 | 526 | |||||||||
| CMD/Vocations | Advisers | 735 | 735 | ||||||||
| Spiritual Directors |
|||||||||||
| Support Costs (Direct) | 4,507 | 4,507 | |||||||||
| Support Cost Allocation | 304,240 | 304,240 | |||||||||
| 3,733,972 | 84,336 | 933,219 | 4,751,527 |
| ote | s | Unrestricted | Unrestricted | Restricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| General | Designated | Income | Capital | Funds | ||||||
| Funds | Fund | Funds | Endowment | |||||||
| Funds | ||||||||||
| 8 | Support for Ministry | 2019 f |
2019 f |
2019 E |
2019 | 2019 | ||||
| Stipends, Fees gt |
Pensions | |||||||||
| Stipends | 2,276,883 | 42,068 | 2,318,951 | |||||||
| Pension-Employers | Contribution | 774,672 | 14,747 | 789,419 | ||||||
| Vacancy Fees | 37,319 | 37,319 | ||||||||
| Sundry | 3,105 | 3,105 | ||||||||
| Property | ||||||||||
| CouncilTax | 164,847 | 164,847 | ||||||||
| Parsonage Board |
719,085 | 719,085 | ||||||||
| Insurance on |
Parsonages | 20,067 | 20,067 | |||||||
| Centre of Mission | 80,941 | 80,941 | ||||||||
| Clergy Expenses | ||||||||||
| Clergy/Chaplains | Expenses | 7,684 | 7,684 | |||||||
| Removal/Disturbance | Allowance | 50,242 | 50,242 | |||||||
| Archdeacons | and | Area | Deans | 17,744 | 8,415 | 26,159 | ||||
| Recruitment | Costs | 3,572 | 3,572 | |||||||
| Training | ||||||||||
| Ordinands/NSM | 48,377 | 48,377 | ||||||||
| Lay Training | 3,560 | 3,560 | ||||||||
| CMD/Vocations | Advisers | 12,351 | 12,351 | |||||||
| Spiritual Directors |
||||||||||
| Support Costs (Directj | 6,213 | 6,213 | ||||||||
| Support Cost Allocation | 378,881 | 378,881 | ||||||||
| 3,805,517 | 719,085 | 4670773 |
| Notes | Notes | Unrestricted | Unrestricted | Restricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|---|
| General | Designated | Income | Capital | Funds | ||||
| Funds | Fund | Funds | Endowment | |||||
| Funds | ||||||||
| 9 | Support for Parishes | 2020 | 2020 | 2020 | 2020 | 2020 | ||
| f | f | f | f | f | ||||
| Sector Ministry Costs | 1,488 | 1,640 | 3,128 | |||||
| Safeguarding | 319 | 319 | ||||||
| Local Ministry Area Initiative | Grants | 2,984 | 2,984 | |||||
| Grants to Parishes | 22,087 | 3,474 | 25,561 | |||||
| Legal and Professional | Fees | 516 | 516 | |||||
| Diocesan Strategy | 32,775 | 32,775 | ||||||
| Children and Youth |
81,209 | 81,209 | ||||||
| Funding and Parish Support | 2,027,164 | 2,027,164 | ||||||
| Support costs (Direct) | 638 | 3,148 | 3,786 | |||||
| Support cost allocation | 148,851 | 148,851 | ||||||
| 2,178,976 | 143,843 | 3,474 | 2,326,293 | |||||
| 9 | Support for Parishes | 2019 | 2019 | 2019 | 2019 | 2019 | ||
| f | f | f | ||||||
| Sector Ministry Costs | 10,223 | 6,646 | 16,869 | |||||
| Safeguarding | 709 | 709 | ||||||
| Local Ministry Area Initiative |
Grants | 21,841 | 21,841 | |||||
| Grants to Parishes | 160,868 | 21,882 | 182,750 | |||||
| Legal and Professional | Fees | 7,064 | 7,064 | |||||
| Diocesan Strategy | 43,249 | 43,249 | ||||||
| Children and Youth |
105,679 | 105,679 | ||||||
| Funding and Parish Support |
192,425 | 192,425 | ||||||
| Support costs (Direct) | 2,333 | 2,333 | ||||||
| Support cost allocation | 50,443 | 50,443 | ||||||
| 421,732 | 201,630 | 623,362 |
| Notes | Unrestricted | Restricted | Restricted | Total |
|---|---|---|---|---|
| General Designated |
Income | Capital | Funds | |
| Funds Fund |
Funds | Endowment | ||
| Funds | ||||
| 10 Church Property | 2020 2020 |
2020 | 2020 | 2020 |
| f | f | f | f | |
| Custodian Expenses |
1,080 | 1,080 | ||
| Quinquennial Inspections |
45,880 | 45,880 | ||
| Diocesan Advisory Committee | 17,737 | 17,737 | ||
| Investment Property: |
||||
| Maintenance Expenses |
12,710 | 12,710 | ||
| Insurance Premiums |
5,993 | 5,993 | ||
| Legal 8 Professional Fees |
19,532 | 19,532 | ||
| Other Buildings: Repairs/Insurance | ||||
| Church Schools (Open and Closed) | 22,247 | 22,247 | ||
| 3-16VA School in St Davids | ||||
| Support Costs (Direct) | 43 | 43 | ||
| Support cost allocation | 8,572 | 8,572 | ||
| 111,547 | 22,247 | 133,794 | ||
| 10 Church Property |
2019 2019 |
2019 | 2019 | 2019 |
| f f |
f | f | f | |
| Custodian Expenses |
558 | 558 | ||
| Quinquenniai inspections |
41,850 | 41,850 | ||
| Diocesan Advisory Committee | 18,351 | 18,351 | ||
| Investment Property: |
||||
| Maintenance Expenses |
21,771 | 21,771 | ||
| Insurance Premiums |
5,113 | 5,113 | ||
| Legal g Professional Fees |
31,900 | 31,900 | ||
| Other Buildings: Repairs/Insurance | ||||
| Church Schools (Open and Closed) | 84,741 | 84,741 | ||
| 3-16VA School in St Davids | 385,000 | 385,000 | ||
| Support Costs (Direct) | 339 | 339 | ||
| Support cost allocation | 52,096 | 52,096 | ||
| 171,978 | 469,741 | 641,719 |
| Fort | he Year Ended 31December 2 | 020 | 020 | ||||
|---|---|---|---|---|---|---|---|
| ote | s | Unrestricted | Restricted | Total | |||
| General Designated |
Income | Capital | Funds | ||||
| Funds Fund |
Funds | Endowment | |||||
| Funds | |||||||
| 11 | Other Financial Support | 2020 2020 |
2020 | 2020 | 2020 | ||
| f | f | f | f | ||||
| Grants: Church | in Wales Bodies | 104,792 | 104,792 | ||||
| Grants: Anglican/Ecumenical/Other | 500 | 500 | |||||
| Other Grants | 24,200 | 24,200 | |||||
| Support Costs | (Direct) | 500 | 500 | ||||
| Support cost allocation | 8,868 | 8,868 | |||||
| 138,860 | 138,860 | ||||||
| 11 | Other Financial Support | 2019 2019 |
2019 | 2019 | 2019 | ||
| f f |
f | f | f | ||||
| Grants: Church | in Wales Bodies | 108,990 | 108,990 | ||||
| Grants: Anglican/Ecumenical/Other | 500 | 500 | |||||
| Other Grants | 27,500 | 27,500 | |||||
| Support Costs | (Direct) | 250 | 250 | ||||
| Support cost allocation | 12,111 | 12,111 | |||||
| 149,350 | 149,350 | ||||||
| 12 | Communication | 2020 2020 |
2020 | 2020 | 2020 | ||
| f | f | f | f | ||||
| Newsletters/Diocesan | Publications | 6,369 | 6,369 | ||||
| Year Book | |||||||
| Pembrokeshire | Show | ||||||
| Support Costs | (Direct) | 25,204 | 25,204 | ||||
| Support cost allocation | 436 | 436 | |||||
| 32,009 | 32,009 | ||||||
| 12 | Communication | 2019 2019 |
2019 | 2019 | 2019 | ||
| f f |
E | E | |||||
| Newsletters/Diocesan | Publications | 14,975 | 14,975 | ||||
| Year Book | |||||||
| Pembrokeshire | Show | 3,635 | 3,635 | ||||
| Support Costs | (Direct) | 28,478 | 28,478 | ||||
| Support cost allocation | 1,645 | 1,645 | |||||
| 48,733 | 48,733 |
| otes | Unrestricted | Unrestricted | Restricted | Restricted | Total | |||
|---|---|---|---|---|---|---|---|---|
| General | Designated | Income | Capital | Funds | ||||
| Funds | Fund | Funds | Endowment | |||||
| Funds | ||||||||
| 13 | Other | 2020 | 2020 | 2020 | 2020 | 2020 | ||
| f | 6 | 6 | f | E | ||||
| Payment | of | Trust income | 59,629 | 59,629 | ||||
| Realisation | ofTrust Capital | 10,789 | 10,789 | |||||
| Payment | of | Legacies | 71,763 | 71,763 | ||||
| 10,789 | 131,392 | 142,181 | ||||||
| 13 | Other | 2019 f |
2019 6 |
2019 | 2019 | 2019 f |
||
| Payment | of | Trust Income | 80,136 | 80,136 | ||||
| Realisation | ofTrust Capital | |||||||
| Payment | of | Legacies | 188,808 | 188,808 | ||||
| 268,944 | 268,944 |
| Fo | Fo | rt | he Ye | ar Ended 31Decem | ber 2020 | ||
|---|---|---|---|---|---|---|---|
| 14 | FUNDING AND PARISH SUPPORT |
2020 | 2019 | ||||
| f | f | ||||||
| Prompt Payment Discount |
15,342 | ||||||
| Increase in Unpaid Ministry |
Share Provision | 100,000 | 177,083 | ||||
| Ministry Share not requested | 1,880,735 | ||||||
| Ministry Share Write Off | 46,429 | ||||||
| 2,027,164 | 192,425 | ||||||
| 15 | SUPPORT COSTS | 2020 | 2019 | ||||
| f | f | ||||||
| Salaries and Related Payments | 337,286 | 307,266 | |||||
| Travelling Expenses |
3,328 | 5,557 | |||||
| Expenses Staff Members | 674 | 4,142 | |||||
| Office Cleaning | 1,236 | 3,355 | |||||
| Heating and Lighting |
7,042 | 7,140 | |||||
| Telephone | 4,653 | 4,241 | |||||
| Printing, Stationery and Office Sundries |
2,452 | 6,690 | |||||
| Postage | 1,886 | 3,665 | |||||
| Ground Rent of Offices |
18,000 | 18,000 | |||||
| Water Rates | 1,315 | 1,151 | |||||
| Office Security | |||||||
| Insurances (including Trustees Indemnity |
Insurance) | 11,114 | 11,129 | ||||
| Depreciation | 6,457 | 16,259 | |||||
| Repairs and Renewals | 3,559 | 3,414 | |||||
| Legal and Professional | 4,485 | 15,840 | |||||
| Audit Fee | 17,325 | 12,055 | |||||
| Training Courses |
1,887 | 2,417 | |||||
| Bank Charges and Interest | 316 | 273 | |||||
| Miscellaneous | 6,013 | 4,410 | |||||
| Diocesan and Archdeacons | Registrars | Expenses | 25,806 | 28,485 | |||
| Computer Software and Support |
5,803 | 6,696 | |||||
| Office Equipment | 7,593 | 9,771 | |||||
| Grantfinder | 1,292 | 1,224 | |||||
| Governing Body Meeting Expenses |
1,024 | 16,904 | |||||
| Translation Fees |
272 | 94 | |||||
| Diocesan Conference | 144 | 4,974 | |||||
| Other Sundry Expenses | 4 | 23 | |||||
| Medical Fees | |||||||
| Contribution to Support Costs from Restricted |
Funds | (68,500) | (60,365) | ||||
| 402,466 | 434,811 | ||||||
| Governance costs included |
within the | above support costs | 44,299 | 62,418 |
| MINISTRY SHARE RECEIVA | BLE | |||||
|---|---|---|---|---|---|---|
| Opening | Ministry | Paid | Closing | Ministry | ||
| Balance | Share | Balance | Share | |||
| 1January | 31December | |||||
| 2020 | 2020 | 2020 | 2020 | 2019 | ||
| f | f | f | f | f | ||
| STDAVIDS ARCHDEACONRY | ||||||
| Dewisland & Fishguard |
Deanery | 150,176 | 264,225 | (376,122) | 38,279 | 267,837 |
| Daugleddau Deanery |
55,356 | 210,737 | (249,071) | 17,022 | 218,490 | |
| Pembroke Deanery |
121,955 | 580,759 | (617,035) | 85,679 | 518,925 | |
| Roose Deanery | 31,923 | 336,620 | (349,673) | 18,870 | 316,123 | |
| TOTAL | 359,41D | 1,392,341 | (1.591.901) | 159.85D | 1,321,375 | |
| CARDIGAN ARCHDEACONRY |
||||||
| Emlyn Deanery | 5,015 | 116,209 | (116,027) | 5,197 | 103,480 | |
| Glyn Aeron Deanery | 20,070 | 211,087 | (211,277) | 19,880 | 196,011 | |
| Cemais & Sub Aeron Deanery | 11,525 | 201,153 | (203,004) | 9,674 | 174,975 | |
| Lampeter & Ultra Aeron |
Deanery | 13,908 | 149,084 | (165,621) | (2,629) | 142,483 |
| Llanbadarn Fawr Deanery |
2,745 | 451,316 | (442,593) | 11,468 | 427,266 | |
| TOTAL | 53,263 | 1,128,849 | (1,138,522) | 43,590 | 1,044,215 | |
| CARMARTHEN ARCHDEACONRY |
||||||
| Carmarthen Deanery |
34,384 | 413,071 | (427,368) | 20,087 | 406,473 | |
| Dyffryn Aman Deanery |
22,510 | 194,695 | (206,189) | 11,016 | 193,030 | |
| Kidwelly Deanery |
79,255 | 390,078 | (429,171) | 40,162 | 360,764 | |
| Llandeilo & Llandovery | Deanery | 3,268 | 255,494 | (277,512) | (18,750) | 241,075 |
| TOTAL | 139,417 | 1,253,338 | (1,340,240) | 52,515 | 1,201,342 | |
| ARCHDEACONRY TOTALS |
||||||
| ST DAVIDS ARCHDEACONRY | 359,410 | 1,392,341 | (1,591,901) | 159,850 | 1,321,375 | |
| CARDIGAN ARCHDEACONRY |
53,263 | 1,128,849 | (1,138,522) | 43,590 | 1,044,215 | |
| CARMARTHEN ARCHDEACONRY |
139,417 | 1,253,338 | (1,340,240) | 52,515 | 1,201,342 | |
| DIOCESAN TOTAL | 552,090 | 3.774,528 | ~4,070,663) | 255.955 | 3,566.932 |
| Opening | Ministry | Paid | Closing | Ministry | ||
|---|---|---|---|---|---|---|
| Balance | Share | Balance | Share | |||
| 1)anuary | 31December | |||||
| 2019 | 2019 | 2019 | 2019 | 2018 | ||
| E | f | E | E | E | ||
| STDAVIDS ARCHDEACONRY | ||||||
| Dewisland & Fishguard |
Deanery | 32,329 | 267,837 | (149,990) | 150,176 | 254,199 |
| Daugleddau Deanery |
30,488 | 218,490 | (193,622) | 55,356 | 215,301 | |
| Pembroke Deanery |
130,266 | 518,925 | (527,236) | 121,955 | 505,930 | |
| Roose Deanery | 40,575 | 316,123 | (324,775) | 31,923 | 298,046 | |
| TOTAL | 233,658 | 1,321,375 | (1,195,623) | 359,410 | 1,273,476 | |
| CARDIGAN ARCHDEACONRY | ||||||
| Emlyn Deanery | (179) | 103,480 | (98,286) | 5,015 | 101,639 | |
| Glyn Aeron Deanery | 25,502 | 196,011 | (201,443) | 20,070 | 197,637 | |
| Cemais &Sub Aeron Deanery | 7,508 | 174,975 | (170,958) | 11,525 | 166,535 | |
| Lampeter &Ultra Aeron | Deanery | 23,953 | 142,483 | (152,528) | 13,908 | 132,696 |
| Llanbadarn Fawr Deanery |
14,447 | 427,266 | (438,968) | 2,745 | 435,908 | |
| TOTAL | 71,231 | 1,044,215 | (1,062,183) | 53,263 | 1,034,415 | |
| CARMARTHEN ARCHDEACONRY |
||||||
| Carmarthen Deanery |
29,956 | 406,473 | (402,045) | 34,384 | 404,218 | |
| Dyffryn Aman Deanery |
(2,278) | 193,030 | (168,242) | 22,510 | 192,278 | |
| Kidwelly Deanery | 49,223 | 360,764 | (330,732) | 79,255 | 346,987 | |
| Llandeilo & Llandovery |
Deanery | 42,294 | 241,075 | (280,101) | 3,268 | 243,619 |
| TOTAL | 119,193 | 1,201,342 | (2,282,2207 | 139,417 | 1,187102 | |
| ARCHDEACONRYTOTALS | ||||||
| ST DAVIDS ARCHDEACONRY | 233,658 | 1,321,375 | (1,195,623) | 359,410 | 1,273,476 | |
| CARDIGAN ARCHDEACONRY |
71,231 | 1,044,215 | (1,062,183) | 53,262 | 1,034,415 | |
| CARMARTHEN ARCHDEACONRY |
119,195 | 1,201,342 | (1,181,120) | 139,416 | 1,187,102 | |
| DIOCESAN TOTAL | 424,084 | 3,566,932 | (3,438,926) | 552,090 | 3,494,993 |
| TANGIBLE ASSETS | ||||
|---|---|---|---|---|
| Freehold | Leasehold | ONce | ||
| Property | Premises | Equipment/ | Total | |
| Restricted | (More Than | Furniture & |
||
| 50Years) | Fittings | |||
| f | f | |||
| FAIR VALUE | ||||
| At 1January 2020 | 164,500 | 94,418 | 116,729 | 375,647 |
| Additions | 3,327 | 3,327 | ||
| At 31December 2020 | 164,500 | 94,418 | 120,056 | 378,974 |
| DEPRECIATION | ||||
| At 1January 2020 | 35,447 | 109,928 | 145,375 | |
| Charge for Year | 1,145 | 5,309 | 6,454 | |
| At 31December 2020 | 36,592 | 115,237 | 151,829 | |
| FAIR VALUE | ||||
| At 31December 2020 | 164,500 | 57,826 | 4,819 | 227,145 |
| At 1January 2020 | 184,100 | 88,871 | 6,801 | 230,272 |
| Freehold | Property | Leasehold | Office | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Premises | Equipment/ | Total | |
| (More Than | Furniture & |
||||
| 50Years) f |
Fittings f |
||||
| Cost/Valuation | 164,500 | 94,418 | 120,056 | 378,974 | |
| 164,500 | 94,418 | 120,056 | 378,974 |
| Forth | e Y | ear | Ended 3 | 1Decemb | er 2020 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 19 | DEBTORS | 2020 | 2019 | ||||||||
| f | f | ||||||||||
| Loans | 403,464 | 403,421 | |||||||||
| Ministry Share Receivable | from Benefices | (Less Provision) | 251,881 | 202,088 | |||||||
| Sundry Debtors and Prepayments | 214,573 | 296,056 | |||||||||
| 869,918 | 901,565 | ||||||||||
| LOANS ASAT31DECEMBER 2020 | |||||||||||
| Balance | Advance | Interest | Repaid | Balance | |||||||
| 1January | 31December | ||||||||||
| 2020f | 2020 f |
2020 f |
2020 E |
2020 f |
|||||||
| Diocesan Loans: | |||||||||||
| St Davids Diocesan Housing | Assn | ||||||||||
| Other Loans | |||||||||||
| Retired Clergy 1.5%Housing Loans |
23,146 | 282 | (239) | 23,189 | |||||||
| 23,146 | 282 | (239) | 23,189 | ||||||||
| Provincial Housing Loans: |
|||||||||||
| Equity Linked | 380,275 | 380,275 | |||||||||
| Totals | 403,421 | 282 | (239) | 403,464 | |||||||
| Provincial and Clergy Housing |
Loans are repayable | on death | or sale of | property | |||||||
| 20 | CURRENT ASSET INVESTMENTS | 2020 | 2019 | ||||||||
| f | f | ||||||||||
| Short Term Deposits | |||||||||||
| 21 | CREDITORS DUE WITHIN | ONE YEAR | 2020 | 2019 | |||||||
| f | f | ||||||||||
| Other Creditors | 814,877 | 846,462 | |||||||||
| Ministry Share Received | in | Advance | 99,311 | ||||||||
| Restricted Funds Creditors |
636,202 | 541,758 | |||||||||
| 1,550,390 | 1,388,220 | ||||||||||
| 22 | CREDITORS DUE MORE THAN | ONE YEAR | 2020 | 2019 | |||||||
| f | f | ||||||||||
| Due tothe Representative | Body ofThe Church | in | Wales | 380,275 | 380,275 |
| 1January | Movement | in Resources | in Resources | 31December | |||
|---|---|---|---|---|---|---|---|
| 2020 f |
Income Transfers f f |
Expenditure f |
2020 f |
||||
| Diocesan Ordinands | Fund | 90,674 | 1,984 | (5,000) | (1,078) | 86,580 | |
| Diocesan Endowed | Schools Fund | 837,292 | 23,642 | (30,000) | (24,074) | 806,860 | |
| Spirituality Fund |
73,911 | 17,176 | 91,087 | ||||
| Community Project |
Fund | 5,568 | 5,568 | ||||
| Parsonage Board Fund |
754,953 | 905,496 | (30,000) | (849,046) | 781,403 | ||
| Church Insurance Contingency |
Fund | 59,046 | 236 | (474) | 58,808 | ||
| Church Repair Grant |
36,000 | 36,000 | (3,000) | 69,000 | |||
| Evangelism Fund |
177,502 | 40,000 | (84,173) | 133,329 | |||
| 1,857,444 | 1,162,036 | (25,000) | (961,845) | 2,032,636 | |||
| 1January | Movement | in Resources | 31December | ||||
| 2019 | Income Transfers f f |
Expenditure f |
2019 | ||||
| Diocesan Ordinands | Fund | 18,012 | 108,525 | (35,791) | (72) | 90,674 | |
| Diocesan Endowed Schools Fund | 1,300,716 | 33,679 | (25,856) | (471,247) | 837,292 | ||
| Spirituality Fund |
59,678 | 14,233 | 73,911 | ||||
| Community Project |
Fund | 5,568 | 5,568 | ||||
| Parsonage Board Fund |
662,427 | 837,978 | (26,367) | (719,085) | 754,953 | ||
| Church Insurance Contingency |
Fund | 58,579 | 467 | 59,046 | |||
| Church Repair Grant |
36,000 | 36,000 | |||||
| 2104980 | 1030882 | (88014) | (1,190404) | 1857444 |
| 1January | Movement | in Resources | in Resources | 31December | |||
|---|---|---|---|---|---|---|---|
| 2020 | Income Transfers |
Expenditure | 2020 | ||||
| f | E | E | E | E | |||
| Redundant Churches |
Fund | 22,516 | 71 | 22,587 | |||
| Bishop's Strategy for | Ministry | Fund | 397,011 | 9,989 | 155,243 | (77,002) | 485,241 |
| Penlan Farm Fund |
52,059 | 163 | 52,222 | ||||
| M H Jones-Olszewski | Fund | 1,766,000 | 35,208 | (34,765) | (52,572) | 1,713,871 | |
| Children &Youth Mission Work Fund |
270,499 | 763 | (65,244) | (129,090) | 76,928 | ||
| Pensions &Assistance | Fund | 3,327 | 24,550 | (24,622) | 3,255 | ||
| Safeguarding Fund |
40,637 | 128 | 40,765 | ||||
| Fundraising | 40 | 40 | |||||
| 2,552,089 | 70,872 | 30,612 | (258,664) | 2,394,909 | |||
| 1January | Movement | in Resources | 31December | ||||
| 2019 | Income Transfers |
Expenditure | 2019 | ||||
| E | E | E | E | ||||
| Pedundant Churches |
Fund | 22,377 | 139 | 22,516 | |||
| Bishop's Strategy for | Ministry | Fund | 507,791 | 16,124 | (126,904) | 397,011 | |
| Penlan Farm Fund |
51,652 | 407 | 52,059 | ||||
| M H Jones-Olszewski | Fund | 1,664,988 | 205,307 | (73,165) | (31,130) | 1,766,000 | |
| Children &Youth Mission Work Fund |
466,664 | 2,849 | (199,014) | 270,499 | |||
| Pensions 8 Assistance |
Fund | 3,255 | 28,040 | (27,968) | 3,327 | ||
| Safeguarding Fund |
40,388 | 249 | 40,637 | ||||
| Fundraising | 40 | 40 | |||||
| 2,757,115 | 253,156 | (101,133) | (357,048) | 2,552,089 |
| F | F | F | orthe Year Ended | 31December 2 | 020 | |||
|---|---|---|---|---|---|---|---|---|
| 26 | GENERAL PURPOSES FUND | 2020 | 2019 | |||||
| f | f | |||||||
| Balance as at 1January | 5,837,367 | 5,448,806 | ||||||
| Surplus/(Deficit) | for the Year | (173,832) | 65,783 | |||||
| Net (Loss)/Gain | on Investments | (7,505) | 125,724 | |||||
| Transfer between | funds | 2,888 | 197,054 | |||||
| Balance as at 31 | December | 5,658,918 | 5,837,367 | |||||
| 27 | ANALYSIS OF NET ASSETS BETWEEN | FUNDS | ||||||
| Restricted | ||||||||
| Capital | ||||||||
| Unrestricted | Designated | Restricted | Endowment | Total | ||||
| Funds | Funds | Funds | Funds | Funds | ||||
| f | f | f | f | f | ||||
| Fund Balances | at | 31December 2020 | ||||||
| are represented | by: | |||||||
| Tangible Fixed |
Assets | 62,645 | 164,500 | 227,145 | ||||
| Investment | Assets | 3,566,534 | 1,570,676 | 132,935 | 3,617,911 | 8,888,056 | ||
| Net Current | Assets | 2,410,014 | 824,233 | 1,735,200 | 243,777 | 5,213,224 | ||
| Long Term Liabilities | (380,275) | (380,275) | ||||||
| 5,658,918 | 2,394,909 | 2,032,635 | 3,861,688 | 13,948,150 | ||||
| Restricted | ||||||||
| Capital | ||||||||
| Unrestricted | Designated | Restricted | Endowment | Total | ||||
| Funds | Funds | Funds | Funds | Funds | ||||
| f | f | f | ||||||
| Fund Balances | at | 31December 2019 | ||||||
| are represented | by: | |||||||
| Tangible Fixed |
Assets | 65,772 | 164,500 | 230,272 | ||||
| Investment | Assets | 3,580,010 | 1,601,161 | 134,600 | 3,734,184 | 9,049,955 | ||
| Net Current | Assets | 2,571,860 | 950,928 | 1,558,344 | 229,571 | 5,310,703 | ||
| Long Term Liabilities | (380,275) | (380,275) | ||||||
| 5,837,367 | 2,552,089 | 1,857,444 | 3,963,755 | 14,210,655 |
| BEFORE UNREALISED GAI | NS | |||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Net income/(expenditure) | forthe reporting | period (as per | ||||
| the Statement ofFinancial Activities) | (262,505) | 65,460 | ||||
| Adjustments for: | ||||||
| Depreciation charges |
6,454 | 16,259 | ||||
| Realised (gains)/losses | on investments | 60,319 | (564,819) | |||
| Realised (gains)/losses | on investment | properties | (54,011) | |||
| Dividends, interest and |
rents from investments | (503,190) | (593,711) | |||
| Loss/(profit) on the sale offixed assets |
||||||
| (increase)/decrease in |
debtors | 31,647 | (42,234) | |||
| increase/(decrease)in | creditors | 162,170 | 703,156 | |||
| Donations received for |
Endowment | Fund | Assets | (600) | (8,036) | |
| Net Cash provided by/(used in) operating |
activities | 477,936 | ||||
| Analysis ofcash and cash | equivalents | |||||
| Cash in hand | 5,893,696 | 5,797,358 | ||||
| Short Term investments | ||||||
| Cash held within investments |
141,479 | 260,807 | ||||
| Total Cash and Cash Equivalents | 6,035,175 | 6,056,165 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| EMPLOYEES: | E | E | ||||
| Staff Costs | ||||||
| Gross Wages | and Salaries | 421,475 | 375,368 | |||
| Redundancy costs |
6,599 | |||||
| Employers Nl |
39,154 | 35,325 | ||||
| Other Pension | Costs | 58,902 | 53,402 | |||
| 526,130 | 464,095 | |||||
| 2020 | 2019 | |||||
| The number ofemployees whose total |
employee | benefits | ||||
| (excluding employers |
pension costs) purposes was as follows: | |||||
| 660,000 | —670,000 | |||||
| 2020 | 2019 | |||||
| f | E | |||||
| The remuneration | for | Key Management | personnel | was | 179,521 | 175,687 |
| Average number | of persons employed: | |||||
| Head Count | 15 | 14 | ||||
| Full Time Equivalent | 15 | 14 |