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|CONTENTS|||Page|
|---|---|---|---|
|Trustees'
Report|||1-17|
|Auditors'
Report|||18-20|
|Statement of FinancialActivities|||21-23|
|Summary
of Income and Expenditure||Account and||
|Statement ofTotal Recognised|Gains|and Losses||
|Balance Sheet|||25|
|Cashflow Statement|||26|
|Notes to the Accounts|||27-53|
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|Clergy Stipend
Levels|2021|2020|
|---|---|---|
|Assistant
Curate|21,559|21,559|
|Incumbent
and Vicar in Rectorial Benefice|25,363|25,363|
|Rector of Rectorial Benefice|26,631|26,631|
|Residentiary
Canon|29,167|29,167|
|Archdeacon|38,805|38,805|
|Dean|39,313|39,313|
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||||Forthe Year Ended 31Decemb|Forthe Year Ended 31Decemb|er 2021|er 2021||
|---|---|---|---|---|---|---|---|
|||Note|Unrestricted||Restricted||Total|
||||General|Designated|Income|Capital|Funds|
||||Funds|Funds|Funds|Endowment||
|||||||Funds||
||||2021|2021||2021|2021|
||||f|f||f|f|
|INCOME AND|ENDOWMENTS|FROM:||||||
|Donations|and Legacies||5,626,620||805,138|49,742|6,481,500|
|Charitable|Activities||31,765||||31,765|
|Investments|||118,304|60,289|218,818|82,290|479,701|
|Other Sources|||9,467||143,177||152,644|
|TOTAL|||5,786,156|60,289|1,167,133|132,032|7,145,610|
||||2020f|2020f|2020
f|2020|2020
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|
##
|||Forthe Year Ended 31Decemb|Forthe Year Ended 31Decemb|er 2021|er 2021||
|---|---|---|---|---|---|---|
||Note|Unrestdcted||Restricted||Total|
|||General|Designated|Income|Capital|Funds|
|||Funds|Funds|Funds|Endowment||
||||||Funds||
|||2021|2021||2021|2021|
|EXPENDITURE ON:||6|E||E|6|
|Raising Funds|7|6,665|9,733|2,037|25,595|44,030|
|Charitable
Activities|||||||
|Support for Ministry|8|3,916,400|61,042|898,788||4,876,230|
|Supportfor
Parishes|9|1,413,300|67,299|10,917||1,491,516|
|Church
Property||67,296||17,882||85,178|
|Other Financial Support||141,957||||141,957|
|Communication|12|30,769||||30,769|
|Other|13||||52,695|52,695|
|TOTAL||5,576.387|138.074|929,624|78,290|6,722,375|
|||2020|2020|2020|2020|2020|
|EXPENDITURE ON:|||E|||E|
|Raising Funds|7|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|7,563,268|
##
|||Forthe Year Ended 31Decembe|Forthe Year Ended 31Decembe|r 2021|r 2021||
|---|---|---|---|---|---|---|
||Note|Unrestricted||Restricted||Total|
|||General|Designated|Income|Capital|Funds|
|||Funds|Funds|Funds|Endowment||
||||||Funds||
|||2021|2021|2021|2021|2021|
|NET INCOME
/(EXPENDITURE)|||||||
|BEFORE INVESTMENT GAINS||209,769|(77,785)|237,509|53,742|423,235|
|NET (LOSSES) ON INVESTMENTS|18|139,938|195,635|16,558|445,871|798,002|
|NET INCOME/(EXPENDITURE)||349,707|117,850|254,067|499,613|1,221,237|
|TRANSFERS BElWEEN FUNDS|24/25|226,315|(106,315)|(110,000)|(10,000)||
|NET MOVEMENT
IN FUNDS||576,022|11,535|144,067|489,613|1,221,237|
|Total Funds Brought Forward||5,658,918|2,394,909|2,032,635|3,861,688|13,948,150|
|TOTAL FUNDS CARRIED FORWARD||6,234,940|2,406,444|2,176,702|4,351,301|15,169,387|
|||2020f|2020
f|2020
f|2020|2020f|
|NET INCOME /(EXPENDITURE)|||||||
|BEFORE INVESTMENT GAINS||(173,832)|(176,831)|201,119|(70,543)|(220,087)|
|NET GAINS 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 BElWEEN 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|
##
##
|||||2021||2020|
|---|---|---|---|---|---|---|
|||||E||E|
|Gross Income (per SOFA)||||7,145,610||7,343,181|
|Expenditure
(per SOFA)||||(6,722,375)||(7,563,268)|
|Operating
(Deficit)/Surplus
For the Year||||423,235||(220,087)|
|Realised Gains on Investments|||||||
|Realised gains/losses
on Investments|||1,057,413||(19,522)||
|Realised gains on investment|properties||||||
|Realised gains on fixed assets|||||||
|||||1,057,413||(19,522)|
|||||1,480,648||(239,609)|
|Unrealised
Gains on Investments|||||||
|Revaluation
(Loss)/Gain
on investment||Property|||||
|Unrealised
Gains/(Losses)
on|Investments||(259,411)||(22,896)||
|Revaluation
(Loss) on Fixed Assets|||||||
|Valuation
of Properties
introduced|||||||
|||||(259,411)||(22,896)|
|(DEFICIT)/SURPLUS FORTHE YEAR||||1,221,237||(232,3337|
##
|||||Notes|2021|2021|2020|2020|
|---|---|---|---|---|---|---|---|---|
||||||E|E|f|E|
|FIXEDASSETS|||||||||
|Tangible Assets||||17|248,662||227,145||
|Investments||||18|9,619,724||8,888,056||
|||||||9,868,386||9,115,201|
|CURRENT ASSETS|||||||||
|Debtors||||19|898,563||869,918||
|Investments||||20|||||
|Cash at Bank|and in Hand||||6,137,110||5,893,696||
||||||7,035,673||6,763,614||
|CREDITORS:|Due Within|One Year||21|(1,414,397)||(1,550,390)||
|NET CURRENT ASSETS||||||5,621,276||5,213,224|
|TOTAL ASSETS LESSCURRENT|||LIABILITIES|||15,489,662||14,328,425|
|CREDITORS:|Due More|Than|||||||
|One Year||||22||(320,275)||(380,275)|
|NET ASSETS||||||15,169,387||13,948,150|
|FUNDS|||||||||
|Restricted
Capital Endowment|||Funds|23||4,351,301||3,861,688|
|Restricted Income Funds||||24||2,176,702||2,032,635|
|Designated
Funds||||25||2,406,444||2,394,909|
|Unrestricted|Funds|||26|||||
|Revaluation|Reserve|Fund|||1,678,765||1,678,765||
|General
Funds|||||4,556,175||3,980,153||
|||||||6,234,940||5,658,918|
|||||||15,169,387||13,948,150|
##
##
||||Notes|Notes||2021||2020|2020|
|---|---|---|---|---|---|---|---|---|---|
|||||||6||E||
|||||28||||||
|Net Cash provided
by/(used
in) operating|||activities|||(367,439)||(505,705)||
|Cash flows from Investing|activities:|||||||||
|Dividends,
interest
and|rents from|investments|||479,699||503,190|||
|Purchase ofproperty,
plant and equipment|||||(28,034)||(3,327)|||
|Proceeds from the sale|offixed assets|||||||||
|Proceeds from the sale|of investments||||2,601,381||672,699|||
|Purchase ofinvestments|||||(2,450,945)||(690,447)|||
|Net Cash provided
by/(used
in) investing|||activities|||602,101||482,115||
|Cashflows from financing|activities:|||||||||
|Receipt ofendowment||||||49,742|||600|
|Change
in cash and cash equivalents||in the||reporting|period|284,404||(22,990)||
|Cash and cash equivalents|at the|||28||6,035,175||6,058,165||
|beginning ofthe reporting|period|||||||||
|Cash and cash equivalents|atthe end|ofthe||reporting|period|6,319,579||6.635,175||
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|ot|es|||Unrestricted|Unrestricted|||Restricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||||General|Designated||Income||Capital|Funds|
|||||Funds||Fund||Funds|Endowment||
||||||||||Funds||
|3|Donations and|Legacies||2021
f||2021||2021
f|2021
f|2021
f|
||Ministry Share|||3,511,818||||||3,511,818|
||RB:Block Grant|||684,170||||458,021||1,142,191|
||RB:Additional|Support||1,408,731||||||1,408,731|
||RB:Improvement||Fund|||||177,640||177,640|
||RB:Evangelism||Fund Grant|||||145,836||145,836|
||Grants|||8,333||||15,124||23,457|
||Legacies||||||||49,742|49,742|
||Donations|||13,568||||8,517||22,085|
||Contributions||||||||||
|||||5,626,620|||805,138||49,742|6,481,500|
||in 2020 E12,124 (||2019:f12,124)was received as a grant||from|the Allchurches||Trust Limited.|||
|3|Donations
and Legacies|||2020
f|2020||2020
f||2020
E|2020
E|
||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|
||Charitable
Activities|||2021|2021||2021||2021|2021|
|||||f||f||f|f|f|
||Chaplaincy
Fees|||23,521||||||23,521|
||Fees|||8,244||||||8,244|
||Fundraising||||||||||
||Sale of Publications||||||||||
|||||31,765||||||31,765|
##
##
##
|||||Forth|e Year Ended 31December 2|e Year Ended 31December 2|021|021||
|---|---|---|---|---|---|---|---|---|---|
||||||Unrestricted||Restricted||Total|
||||||General|Designated|Income|Capital|Funds|
|Notes|||||Funds|Fund|Funds|Endowment||
|||||||||Funds||
||Charitable
Activities||||2020|2020f|2020
f|2020
f|2020
f|
||Chaplaincy
Fees||||19,597||||19,597|
||Sale of Publications|||||||||
||||||19,597||||19,597|
|5|Investments||||2021|2021|2021|2021|2021|
||||||f|f|f||f|
||Rents Received||||93,253||20,190||113,443|
||RB Common
Investment||Fund||76||||76|
||DBFCommon
Investment|||Fund|24,426|41,584|3,041|82,290|151,341|
||Rents Received: Parsonage|||Board|||192,803||192,803|
||Interest||||549|58|2,784||3,391|
||Realisation ofTrusts|||||18,647|||18,647|
||||||118,304|60,289|218,818|82,290|479,701|
|5|Investments||||2020|2020|2020|2020|2020|
||||||f|f|f|f|f|
||Rents Received||||91,229||20,105||111,334|
||RB Common
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|
|6|OtherSources||||2021|2021|2021|2021|2021|
||||||f||f||f|
||ContributionrHousing|Association|||6,455||||6,455|
||Proceeds from the sale ofassets|||||||||
||Administration
Fee:Sale of||Property||62||10,985||11,047|
||Marriage
Licences||||2,280||||2,280|
||Church
Repair Grants||||||132,000||132,000|
||Sundry Income||||670||192||862|
||||||9,467||143,177||152,644|
##
##
||||Forth|e Year Ended 31December 2|e Year Ended 31December 2|021|021||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted||Restricted||Total|
|||||General|Designated|Income|Capital|Funds|
|Notes||||Funds|Fund|Funds|Endowment||
||||||||Funds||
|6|Other Sources|||2020|2020|2020|2020|2020|
|||||E||E|||
||Contributionrgousing||Association|6,340||||6,340|
||Proceeds from|the sale ofassets|||||||
||Administration|Fee:|Sale ofProperty||||||
||Marriage
Licences|||2,130||||2,130|
||Church
Repair|Grant||||36,000||36,000|
||Sundry Income|||1,298||228||1,526|
|||||9,768||36228||45,996|
|||||2021|2021|2021|2021|2021|
|7|Raising Funds|||E|E|f|E||
|||||6,665|9,733|2,037|25,595|44,030|
|7|Raising Funds|||2020|2020|2020|2020|2020|
|||||E|f|E|E|E|
|||||5,971|8,735|1,977|21,921|38,604|
##
##
|||||Fort|he Year Ended 31December 2|he Year Ended 31December 2|021|021||
|---|---|---|---|---|---|---|---|---|---|
||||||Unrestricted||Restricted||Total|
||||||General|Designated|Income|Capital|Funds|
|Notes|||||Funds|Fund|Funds|Endowment||
|||||||||Funds||
|8|Support for Ministry||||2021|2021|2021|2021|2021|
||||||f|f|||f|
||Stipends, Fees &Pensions|||||||||
||Stipends||||2,410,513|42,942|||2,453,455|
||Pension-Employers||Contribution||786,260|14,164|||800,424|
||Vacancy Fees||||1,197||||1,197|
||Sundry|||||||||
||Property|||||||||
||Council Tax||||182,136||||182,136|
||Parsonage
Board||||||743,578||743,578|
||insurance
on Parsonages||||21,539||||21,539|
||Sundry||||5,534||||5,534|
||Evangelism
Bid - Centre||of|Mission|17,531||155,210||172,741|
||Clergy Expenses|||||||||
||Clergy/Chaplains|Expenses|||11,631||||11,631|
||Removal/Disturbance|||Allowance|25,257||||25,257|
||Archdeacons
and|Area||Deans|13,843|3,936|||17,779|
||Recruitment
Costs||||877||||877|
||Training|||||||||
||Ordinands/NSM||||23,184||||23,184|
||Lay Training||||2,877||||2,877|
||CMD/Vocations
Advisers||||1,866||||1,866|
||Spiritual
Directors|||||||||
||Support Costs (Direct)||||9,109||||9,109|
||Support Cost Allocation||||403,046||||403,046|
||||||3916400|61,042|898,788||4,876,230|
##
##
##
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|ot|es|||||Unrestricted||Restricted||Total|
|||||||General|Designated|Income|Capital|Funds|
|||||||Funds|Fund|Funds|Endowment||
||||||||||Funds||
|8|Support for Ministry|||||2020|2020|2020|2020|2020|
|||||||f|f|f||f|
||Stipends,
Fees &|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|Parsonages||||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|
|||||||3733972|84336|933 219||4 751527|
##
##
##
|ot|es|||LInrestricted|LInrestricted|Restricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
|||||General|Designated|Income|Capital|Funds|
|||||Funds|Fund|Funds|Endowment||
||||||||Funds||
|9|Support for Parishes|||2021|2021|2021|2021|2021|
|||||f|f|f|f|f|
||Sector Ministry
Costs|||1,851||||1,851|
||Safeguarding|||22||||22|
||Local Ministry Area Initiative||Grants||7,247|||7,247|
||Grants to Parishes||||13,275|10,917||24,192|
||Legal and Professional|Fees|||||||
||Diocesan Strategy||||42,164|||42,164|
||Children
and Youth||||4,511|||4,511|
||Funding and Parish Support|||1,286,324||||1,286,324|
||Support costs (Direct)|||1,744|102|||1,846|
||Support cost allocation|||123,359||||123,359|
|||||1,413,300|67,299|10,917||1,491,516|
|9|Support for Parishes|||2020|2020|2020|2020|2020|
||||||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||2326,293|
##
##
##
|Not|es|Unrestricted|Unrestricted|Restricted|Restricted|Total|
|---|---|---|---|---|---|---|
|||General|Designated|Income|Capital|Funds|
|||Funds|Fund|Funds|Endowment||
||||||Funds||
|10|Church Property|2021|2021|2021|2021|2021|
|||f|f|f|f|f|
||Custodian
Expenses|||||444|
||Quinquennial
Inspections||||||
||Diocesan Advisory Committee|18,050||||18,050|
||Investment
Property:||||||
||Maintenance
Expenses|20,693||||20,693|
||Insurance
Premiums|5,530||||5,530|
||Legal & Professional
Fees|15,525||||15,525|
||Other Buildings:
Repairs/Insurance||||||
||Church Schools (Open and Closed)
3-16VA School in St Davids|||17,882||17,882|
||Support Costs (Direct)||||||
||Support cost allocation|7,054||||7,054|
|||67,296||17,882||85,178|
|10|Church Property|2020
f|2020
f|2020
f|2020
f|2020
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 & Professional
Fees|19,532||||19,532|
||Other Buildings: Repairs/Insurance||||||
||Church Schools (Open and Closed)
3-16VA School in St Davids|||22,247||22,247|
||Support Costs (Direct)|43||||43|
||Support cost allocation|8,572
111,547||22,247||8,572
133,794|
##
##
|Not|es||Unrestricted|Unrestricted|Restricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||||General|Designated|Income|Capital|Funds|
||||Funds|Fund|Funds|Endowment||
|||||||Funds||
|11 Other Financial Support|||2021|2021|2021|2021|2021|
||||f|f|f||f|
||Grants: Church
in Wales Bodies||104,793||||104,793|
||Grants: Anglican/Ecumenical/Other||500||||500|
||Other Grants||24,450||||24,450|
||Support Costs (Direct)||500||||500|
||Support cost allocation||11,714||||11,714|
||||141,957||||141,957|
|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|
||||138860||||138,860|
|12|Communication||2021
f|2021
f|2021
f|2021
f|2021
f|
||Newsletters/Diocesan|Publications|5,829||||5,829|
||Year Book|||||||
||Pembrokeshire
Show|||||||
||Support Costs (Direct)||24,414||||24,414|
||Support cost allocation||526||||526|
||||30,769||||30,769|
|12|Communication||2020
f|2020
f|2020
f|2020
f|2020
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|
##
##
|||||||
|---|---|---|---|---|---|
|Notes|Unrestricted||Restricted||Total|
||General|Designated|Income|Capital|Funds|
||Funds|Fund|Funds|Endowment||
|||||Funds||
|13 Other|2021
f|2021
f|2021
f|2021
f|2021
f|
|Payment ofTrust Income||||34,043|34,043|
|Realisation ofTrust Capital||||||
|Payment ofLegacies||||18,652|18,652|
|||||52695|52695|
|13 Other|2020f|2020
f|2020
f|2020
f|2020
f|
|Payment ofTrust income
Realisation ofTrust Capital
Payment of Legacies||10,789||59,629
71,763|59,629
10,789
71,763|
|||10789||131,392|142181|
##
|F|F|F|or|the Y|ear Ended 31Decem|ber 2021||
|---|---|---|---|---|---|---|---|
|FUNDING AND PARISH SUPPORT||||||2021|2020|
|||||||f|f|
|Prompt Payment
Discount||||||||
|Increase
in Unpaid|Ministry|Share Provision||||50,000|100,000|
|Ministry Share not requested||||||1,236,324|1,880,735|
|Ministry Share Write Off|||||||46,429|
|||||||1,286,324|2,027, 164|
|SUPPORT COSTS||||||2021|2020|
|||||||f|f|
|Salaries and Related|Payments|||||387,697|337,286|
|Travelling
Expenses||||||359|3,328|
|Expenses Staff Members||||||5,925|674|
|Office Cleaning||||||794|1,236|
|Heating and Lighting||||||5,814|7,042|
|Telephone||||||6,704|4,653|
|Printing,
Stationery|and Office Sundries|||||1,971|2,452|
|Postage||||||1,585|1,886|
|Ground
Rent of Offices||||||18,000|18,000|
|Water Rates||||||1,208|1,315|
|Office Security||||||||
|Insurances
(including|Trustees Indemnity|||Insurance)||11,115|11,114|
|Depreciation||||||5,541|6,457|
|Repairs and Renewals||||||4,692|3,559|
|Legal and Professional||||||19,558|4,485|
|Audit Fee||||||14,400|17,325|
|Training Courses||||||3,890|1,887|
|Bank Charges and Interest||||||1,088|316|
|Miscellaneous||||||841|6,013|
|Room Hire||||||60||
|Diocesan and Archdeacons||Registrars|Expenses|||25,391|25,806|
|Computer
Software|and Support|||||13,764|5,803|
|Office Equipment||||||4,858|7,593|
|Grantfinder||||||1,356|1,292|
|Governing
Body Meeting Expenses||||||5,946|1,024|
|Translation
Fees||||||708|272|
|Diocesan Conference||||||2,436|144|
|Other Sundry Expenses||||||||
|Medical Fees||||||||
|Contribution
to Support Costs from Restricted|||||Funds|(80,000)|(68,500)|
|||||||465,701|402.466|
|Governance
costs included||within the|above support costs|||48,173|44,299|
##
##
##
|||||Opening|Ministry|Paid|Closing|Ministry|
|---|---|---|---|---|---|---|---|---|
|||||Balance|Share||Balance|Share|
|||||1January|||31December||
|||||2020|2020|2020|2020|2019|
|||||f|f|E||f|
|STDAVIDS ARCHDEACONRY|||||||||
|Cathedral||||10,725|48,079|(58,804)||42,899|
|South West||Pembrokeshire||17,140|183,282|(197,761)|2,661|168,442|
|Narberth
gi||Tenby||16,340|323,090|(274,411)|65,019|279,000|
|Roose||||31,923|336,620|(349,674)|18,869|316,123|
|Greater
Dewisland||||44,316|73,860|(107,877)|10,299|94,104|
|Gorllewin
Cemaes - West Cemaes||||113,224|154,031|(237,429)|29,826|143,277|
|Daugleddau||||38,257|173,808|(195,474)|16,591|182,464|
|East Landsker||||87,485|99,570|(170,470)|16,585|95,066|
|TOTAL||||359,410|1,392,340|(1,591,900)|159,850|1,321,375|
|CARDIGAN ARCHDEACONRY|||||||||
|BroTeifi||||11,525|201,152|(203,003)|9,674|174,975|
|BroAeron|Mydr|||3,916|70,587|(63,444)|11,059|70,087|
|Glyn Aaron|[BroAeron (Coastal)]|||16,154|115,112|(122,443)|8,823|106,640|
|BroWyre|||||48,810|(48,173)|637|56,711|
|Aberystwyth|||||278,497|(270,209)|8,288|247,680|
|Bro Padarn||||2,745|145,780|(145,981)|2,544|142,159|
|Lampeter||||13,908|149,084|(165,623)|(2,631)|142,483|
|Emlyn
(Dyffryn|||Teifi)|5,015|116,209|(117,841)|3,383|103,480|
|TOTAL||||53,263|1,125,231|(1,136,717)|41,777|1,044,215|
|CARMARTHEN||ARCHDEACONRY|||||||
|Bro Dyfri||||3,268|138,471|(138,756)|2,983|124,833|
|BroAman||||16,893|131,919|(143,012)|5,800|133,133|
|Bro Lliedi||||79,255|190,503|(248,193)|21,565|175,991|
|BroGwendraeth||||5,617|106,137|(109,260)|2,494|116,556|
|Bro Glannau||Tywyn|||143,331|(122,013)|21,318|128,114|
|Bro Cydweli||||10,400|133,352|(130,371)|13,381|132,752|
|Bro Dlnefwr|||||117,023|(136,942)|(19,919)|116,242|
|Bro Caerlyrddin||||19,657|172,680|(188,597)|3,740|164,722|
|BroSancfer||||4,327|112,481|(113,842)|2,966|108,999|
|TOTAL||||139,417|1,245,897|(1,330,986)|54,328|1,201,342|
|ARCHDEACONRY|||TOTALS||||||
|STDAVIDS ARCHDEACONRY||||359,410|1,392,340|(1,591,900)|159,850|1,321,375|
|CARDIGAN|ARCHDEACONRY|||53,263|1,125,231|(1,136,717)|41,777|1,044,215|
|CARMARTHEN|||ARCHDEACONRY|139,417|1,245,897|(1,330,986)|54,328|1,201,342|
|DIOCESAN TOTAL||||552,090|3,763,468|(4,059,603)|255,955|3,566,932|
##
##
|~TENIBLE A55EI5|||||
|---|---|---|---|---|
||Freehold|Leasehold|Office||
||Property|Premises|Equipment/|Total|
||Restricted|(More Than|Furniture
&||
|||50Years)
f|Fittings
f||
|FAIR VALUE|||||
|At 1January 2021|164,500|94,418|120,056|378,974|
|Additions|||28,034|28,034|
|At 31December 2021|184,100|94,418|148,090|407,008|
|DEPRECIATION|||||
|At 1January 2021||36,592|115,237|151,829|
|Charge for Year||1,143|5,374|6,517|
|At 31December 2021||37,735|120,611|158,346|
|FAIR VALUE|||||
|At 31December 2021|164,500|56,683|27,479|248,662|
|At 1January 2021|164,500|57,826|4,819|227,145|
||Freehold|Property|Leasehold|OfRce||
|---|---|---|---|---|---|
||Unrestricted|Restricted|Premises|Equipment/|Total|
||||(More Than|Furniture
&||
||||50Years)
f|Fittings
f||
|Cost/Valuation||164,500|94,418|148,090|407,008|
|||164,500|94,418|148,090|407,008|
##
##
##
##
##
##
##
##
||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
|Listed Investments|||||5,944,357||5,091,150||
|Government
Securities|||and Fixed Interest||1,002,898||1,164,427||
|Cash Held||on Deposit|||182,469||141,479||
||||||7,129,724||6,397.056||
||||||2021||2020||
||||||Fair|Cost|Fair|Cost|
||||||Value||Value||
||||||f|f|f|f|
|Investment||Properties|—Unrestricted|Funds|2.490,000|882,235|2,491.000|882 235|
||||||Investments|Investment||Total|
|||||||Properties||Investments|
|||||||f||f|
|At 1January|||||6,397,056|2,491,000||8,888,056|
|Additions|||||2,450,945|||2,450,945|
|Disposals|||||||||
|Realisation ofTrust Capital
Realised Gains/(Losses)|||||(2,601,381)
(18,715)|(1,000)||(2,602,381)
(18,715)|
|Eqilibrium|adjustment||||1,051,439|||1,051,439|
|Unrealised
Gains/(Losses)
Cash movement|||||(200,430)
40,990|||(200,430)
40,990|
|Equilibrium
adjustment
At 31December|||||9,820
7,129,724|2,490,000||9,820
9,619,724|
##
##
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|19|DEBTORS|||||||2021||2020|
|||||||||f||f|
||Loans|||||||336,446||403,464|
||Ministry Share Receivable||from Benefices (Less Provision)|||||298,129||251,881|
||Sundry Debtors and Prepayments|||||||263,988||214,573|
|||||||||898,563||869,918|
||LOANS AS AT31DECEMBER|||2021|||||||
||||||Balance||Advance|Interest|Repaid|Balance|
|||||1January||||||31December|
||||||2021f||2021
f|2021|2021
f|2021
f|
||Diocesan Loans:||||||||||
||St Davids Diocesan Housing||Assn||||||||
||Other Loans
Retired Clergy 1.5N0 I-lousing|||Loans|23,189|||538|~7,556)|16,171|
||||||23,189|||538|(7,556)|16,171|
||Provincial
Housing
Loans:||||||||||
||Equity Linked||||380,275||||(60,000)|320,275|
||Totals||||403,464|||538|(67,556)|336,446|
||Provincial
and Clergy Housing|||Loans are repayable||on death|orsale of|property|||
|20|CURRENT ASSET INVESTMENTS|||||||2021||2020|
|||||||||f||f|
||Short Term Deposits||||||||||
|21|CREDITORS DUE WITHIN|ONE YEAR||||||2021||2020|
|||||||||f||f|
||Other Creditors|||||||852,578||814,877|
||Ministry Share Received|in|Advance|||||22,714||99,311|
||Restricted
Funds Creditors|||||||539,105||636,202|
|||||||||1,414,397||1550,390|
|22|CREDITORS DUE MORE THAN|||ONE YEAR||||2021||2020|
|||||||||f||f|
||Due tothe Representative||Body ofThe Church||in|Wales||320,275||380,275|
##
##
##
||||||||
|---|---|---|---|---|---|---|
|RESTRICTED CAPITAL ENDOWMENT|FUND||||2021|2020|
||||||f|f|
|Balance as at 1January|||||3,861,688|3,963,755|
|(Deficit) forthe Year|||||43,742|(41,875)|
|Net Gain/(Loss)
on Investments|||||445,871|(60,192)|
|Balance as at 31December|||||4,351,301|3,861.688|
|Represented
by:|||||||
|Capital|||||3,671,035|3,151,596|
|Income|||||329,656|243,778|
|Unrealised
Profit (Market Value less Cost)|||||350,610|466,314|
||||||4,351.301|3,861.688|
|Endowment
funds have been entailed|over many||years and relate||in the main to funds held on behalf ofparishes.||
|Investment
returns are released to the parishes,
the Board within this Fund.|||where applicable.||When returns are not|released, they are retained
by|
|The Trustees have reference to legal|advice provided|||by Carreg Law, solicitors; one ofthe Board's legal advisers.|||
||||||2021|2020|
||||||f|f|
|At 1January|||||3,861,688|3,963,755|
|Capital Introduced|||||49,742|600|
|Trust Income Received|||||151,340|148,133|
|Realisation ofTrusts|||||||
|Payment ofTrust Income to Parishes|etc.||||(103,093)|(59,629)|
|Capital Withdrawn|||||(18,652)|(82,553)|
|Realised Gains|||||614,380|(19,522)|
|Unrealised
Gains/ (Losses)|||||(1.68,509)|(40,670)|
|Investment
Managers
and Administration||Fees|||(35,595)|(48,426)|
||||||4351,301|3.861.688|
##
##
||||||1January|Movement|Movement|in Resources|in Resources|31December|
|---|---|---|---|---|---|---|---|---|---|---|
||||||2021|Income|Trans('ers||Expenditure|2021|
||||||E|E|||f|E|
|Diocesan|Ordinands||Fund||86,580|13,269||(40,000)|(533)|59,316|
|Diocesan|Endowed|Schools Fund|||806,860|38,157||(35,000)|(19,385)|790,632|
|Spirituality|Fund||||91,087|15,124||||106,211|
|Community
Project||Fund|||5,568|||||5,568|
|Parsonage|Board Fund||||781,403|831,367||(35,000)|(743,579)|834,191|
|Church
Insurance
Contingency||||Fund|58,808|||||58,808|
|Church
Repair Grant|||(Limited)||69,000|60,000|||(10,916)|118,084|
|Church
Repair Grant|||(Unlimited)|||72,000||||72,000|
|Evangelism|Fund||||133,329|153,773|||(155,210)|131,892|
||||||2,032,635|1,183,690|(110,000)||(929,623)|2,176,702|
||||||1january|Movement||in Resources||31December|
||||||2020
E|Income
f|Transfers||Expenditure
E|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)|2,032,635|
##
##
##
||||1January|Movement
in Resources|Movement
in Resources|Movement
in Resources|31December|
|---|---|---|---|---|---|---|---|
||||2021
f|Income
f|Transfers
f|Expenditure
f|2021
f|
|Redundant
Churches||Fund|22,587||||22,587|
|Strategy for Ministry||Fund|485,241|23|(20,000)|(110,555)|354,709|
|Penlan
Farm Fund|||52,222||||52,222|
|M H Jones-Olszewski||Fund|1,713,871|231,579|(82,015)|(23,009)|1,840,426|
|Children
&Youth Mission Work Fund|||76,928|23|20,000|(4,511)|92,440|
|Pensions &Assistance||Fund|3,255|24,300|(24,300)||3,255|
|Safeguarding
Fund|||40,765||||40,765|
|Fun draising|||40||||40|
||||2,394,909|255,925|(106,315)|(138,075)|2,406,444|
||||1January|Movementin
Resources|||31December|
||||2020f|Income
f|Transfers
f|Expenditure
E|2020
f|
|Redundant
Churches||Fund|22,516|71|||22,587|
|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 8 Assistance||Fund|3,327|24,550|(24,622)||3,255|
|Safeguarding
Fund|||40,637|128|||40,765|
|Fun draising|||40
2,552,089|70,872|30,612|(258,665)|40
2,394,909|
|||Forthe Year Ended|31December|2021|||
|---|---|---|---|---|---|---|
|26|ENERALP
RP
FUND|||2021||2020|
|||||f||f|
||Balance as at 1January|||5,658,918||5,837,367|
||Surplus/(Deficit)
for the Year (after transfers)|||436,084||(173,832)|
||Net (Loss)/Gain
on Investments|||139,938||(7,505)|
||Properties
Introduced|||||2,888|
||Balance as at 31December|||6,264.949||6.668,928|
|27|ANALYSIS OF NET ASSETS BETWEEN|FUNDS|||||
||||||Restricted||
||||||Capital||
|||Unrestricted|Designated|Restricted|Endowment|Total|
|||Funds
f|Funds
f|Fundsf|Fundsf|Funds
f|
||Fund Balances at 31December 2021||||||
||are represented
by:||||||
||Tangible
Fixed Assets|84,162||164,500||248,662|
||Investment
Assets|3,693,833|1,756,578|148,669|4,021,645|9,620,725|
||Net Current Assets|2,777,220|649,866|1,863,533|329,656|5,620,275|
||Long Term Liabilities|(320,275)||||(320,275)|
|||6,234,940|2,406,444|2,176,702|4,351,301|15,169,387|
||||||Restricted||
||||||Capital||
|||Unrestricted|Designated|Restricted|Endowment|Total|
|||Funds|Funds|Funds|Funds|Funds|
|||f||f|E|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)|
|||5658918|2,394,909|2,032,635|3861,688|13,948150|
##
##
|BEFORE UNREALISED GAINS||||||
|---|---|---|---|---|---|
|||||2021|2020|
|Net income/(expenditure)
for the reporting|||period (as per|||
|the Statement ofFinancial Activities)||||1,221,237|(262,505)|
|Adjustments for:||||||
|Depreciation
charges
Realised (gains)/losses
on investments
Dividends,
interest and rents from investments
Loss/(profit)
on the sale offixed assets||||6,517
(841,114)
(479,699)|6,454
60,319
(503,190)|
|(Increase)/decrease
in debtors
Increase/(decrease)
in creditors
Donations
received for Endowment|Fund||Assets|(28,645)
(195,993)
(49,742)|31,647
162,170
(600)|
|Net Cash provided
by/(used
in) operating||activities||367439|505,705|
|Analysis ofcash and cash equivalents||||||
|Cash in hand
Short Term investments||||6,137,110|5,893,696|
|Cash held within
investments||||182,469|141,479|
|Total Cash and Cash Equivalents||||6,319.579|6,935 175|
##
##
|||||||2021||2020|
|---|---|---|---|---|---|---|---|---|
|EMPLOYEES:||||||E||E|
|Staff Costs|||||||||
|Gross Wages|and Salaries|||||412,737||421,475|
|Redundancy|costs||||||0|6,599|
|Employers
Nl||||||39,945||39,154|
|Other Pension Costs||||||56,822||58,902|
|||||||509,504||526,130|
|||||||2021||2020|
|The number ofemployees
whose total|||employee||benefits||||
|(excluding
employers||pension costs) purposes||was as follows:|||||
|660,000 - 670,000|||||||||
|||||||2021||2020|
|||||||E||f|
|The remuneration|for|Key Management|personnel||was|200.453||179,521|
|Average number|of persons employed:||||||||
|Head Count|||||||13|15|
|Full Time Equivalent|||||||13|15|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||2021|2020|
|---|---|---|---|
|||f|f|
|Within|One Year|8,030|8,030|
|Between two and five years||10,920|18,950|
|||18,950|26,980|