| CONTENTS | |||||
|---|---|---|---|---|---|
| Page | |||||
| Report ofthe Trustees for the year | ended | 30June 2021 | |||
| Independent Auditors' Report to the Members ofSwansea |
&Brecon | Diocesan | |||
| Trust Incorporated | 10 | ||||
| Statement ofFinancial Activities (including |
Income and Expenditure | Account) | 14 | ||
| Balance Sheet as at 30June 2021 | 15 | ||||
| Notes to the Financial Statements | for the | Year Ended 30 | June 2021 | 16 |
| he net movement | s for the year on unrestricte |
d funds are as fo |
llows: | ||
|---|---|---|---|---|---|
| 2021 | |||||
| 8 | |||||
| Net income | |||||
| Balance brought | forward | 2 020 | |||
| Balance carried | forward | 2,825 | |||
| esults —Restricted Funds | |||||
| he net movements for the year on restricted |
funds are as follows: | ||||
| 2021f | |||||
| Net (expenditure) before losses on investments Gains on revaluation and disposals offixed asset investments |
and education | properties | (8,597) 240 010 |
||
| Net income | 241,222 | ||||
| Balance brought | forward | 3772 780 | |||
| Balance carried | forward | 4014011 |
| Company Number: 00211214 |
||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |||
| Nots | Funds | Funds 8 |
2021 8 |
2020 f |
||
| Income from: | ||||||
| Donations and legacies |
12,924 | 12,924 | 8,658 | |||
| Charitable activities |
950 | 950 | 3,869 | |||
| Investments | 43,433 | 43,433 | 53,600 | |||
| Total Income | 57,307 | 57,307 | 66,127 | |||
| ~E* Cht |
||||||
| Raising funds: Investment management |
costs | 7,610 | 7,610 | 7,556 | ||
| Charitable Activities: |
||||||
| Funds Distributed | 48,124 | 48,124 | 227,871 | |||
| Support Costs | 4,200 | 4,200 | 3,799 | |||
| Governance Costs |
5,970 | 5,970 | 6,275 | |||
| Total charitable activities |
58,294 | 58,294 | 237,945 | |||
| Total expenditure | 65,904 | 65,904 | 245,501 | |||
| Other recognised gains/losses |
10 | 249,819 | 249,819 | (120,155) | ||
| Net movement in funds |
241,222 | 241,222 | (299,529) | |||
| Reconciliation offunds: |
||||||
| Total funds brought forward |
17,19 | 2,825 | 3,772,789 | 3,775,614 | 4,075,143 | |
| Total funds carried forward | 17,19 | 2,825 | 4,014,011 | 4,016,836 | 3,775,614 |
| 5 | DONATIONS AND LEGACIES |
DONATIONS AND LEGACIES |
2021f | 2020f |
|---|---|---|---|---|
| Grants | 12924 | 8,658 | ||
| 12,924 | 8,658 | |||
| 6 | CHARITABLE ACTIVITIES | 2021 | 2020 | |
| f | ||||
| Rental Income | 950 | 950 | ||
| Property Sales | 2,919 | |||
| 950 | 3,869 | |||
| 7 | INVESTMENTS | 2021f | 2020f | |
| Investment Income - Listed |
43,367 | 52,661 | ||
| Bank Interest | 66 | 939 | ||
| 43,433 | 53,600 | |||
| 8 | SUPPORT COSTS | 2021f | 2020f | |
| Administration Fee |
3,000 | 3,000 | ||
| Professional Fees |
1,200 | 602 | ||
| Other Support Costs | 197 | |||
| 4200 | 3,799 | |||
| 9 | GOVERNANCE COSTS | 2021 | 2020 | |
| Administration Fee |
750 | 750 | ||
| Auditors' Remuneration |
4,900 | 5,217 | ||
| Companies House and |
Bank Services | 77 | 88 | |
| Professional Indemnity |
Insurance | 243 | 220 | |
| 5,970 | 6,275 |
| 10 | OTHER RECOGNISED GAINS AND LOSSES | OTHER RECOGNISED GAINS AND LOSSES | OTHER RECOGNISED GAINS AND LOSSES | 2021 | 2020 |
|---|---|---|---|---|---|
| 5 | F | ||||
| Gains/(Losses) | on investments | 249,819 | (120,155) | ||
| Property Revaluations |
|||||
| 249,819 | 120,155 | ||||
| 11 | TOTAL EXPENDITURE | ||||
| Diocesan Church | |||||
| Schools snd | |||||
| Religious | |||||
| Education | 2021 | 2020 | |||
| Funds 5 |
Totalf | Total | |||
| Stockbroker's Charges |
7,610 | 7,610 | 7,556 | ||
| Education Property |
24,056 | 24,056 | 21,931 | ||
| Education Support Costs | 24,068 | 24,068 | 26,266 | ||
| Professional fees and other costs incurred |
in relation to the | ||||
| sale ofproperties | 3,606 | ||||
| Support Costs | 4,200 | 4,200 | 3,799 | ||
| Governance Costs |
5,970 | 5,970 | 6275 | ||
| 65,904 | 65904 | 69433 | |||
| 12 | TANGIBLE FIXEDASSETS | ||||
| 2021 | |||||
| Education | |||||
| Properties | |||||
| 6 | |||||
| At 1 July 2020 | 2 331750 | ||||
| At 30June 2021 | 2,331,750 | ||||
| Carrying amount |
|||||
| 30June 2021 | 2331750 | ||||
| 30June 2020 | 2331750 |
| Investments | are divided into |
||||||
|---|---|---|---|---|---|---|---|
| various trusts as shown below: |
|||||||
| 2021 | 2021 | 2020 | 2020 | ||||
| BookValue f |
Market Value f |
Book Value | Market valuef | ||||
| Diocesan | Church Schools | ||||||
| and Religious | Education | Fund | 1,311,074 | 1,691,710 | 1,184,351 | 1,450,967 | |
| Diocesan | Trusts | 7 500 | 10,348 | 7,023 | 8,883 | ||
| 1,318,664 | 1,702,058 | 1,191,374 | 1,459,850 | ||||
| The above | investments | can be analysed as follows: | |||||
| 2021 f |
2020 F |
||||||
| Listed investments | 1,678,186 | 1,430,028 | |||||
| Cash held | by investment | managers | 23,872 | 29,822 | |||
| 1,702,058 | 1,459,850 | ||||||
| 2021 | |||||||
| Listed | |||||||
| The movement | year on | year is as | follows: | investmentsf | |||
| At1 July2020 | 1,459,850 | ||||||
| Additions | 910,773 | ||||||
| Disposals | (912,435) | ||||||
| Gain on disposals ofinvestments Unrealised gain on investments Cash movement |
104,512 145,307 ~0.949 |
||||||
| At 30June | 2021 | 1 702050 |
| 16 | FINANCIAL INSTRUM | ENTS | 2021 | 2020 | |||||
| f | f | ||||||||
| Carrying | amount offinancial assets | ||||||||
| Instruments | measured | at fair value through | statement | offinancial activities | 1,702058 | 1,459,850 | |||
| 17 | RESTRICTED FUNDS | ||||||||
| 2021 | 2020 | ||||||||
| 8 | |||||||||
| Trust funds vested in |
the Trust | ||||||||
| Diocesan | Church Schools and Religious | Education | Fund | 3,956,310 | 3,715,566 | ||||
| Diocesan | Trust | 10,348 | 8,883 | ||||||
| 3,966,658 | 3,724,449 | ||||||||
| Trust income accounts | |||||||||
| Diocesan | Church Schools and Religious | Education | Funds | 43,209 | 44,480 | ||||
| Diocesan | Trust | 4,144 | 3,860 | ||||||
| 47353 | 48,340 | ||||||||
| 4,014,011 | 3,772,789 |
| 19 | ANALYSIS OF | NET | ASSETSBETWEEN | FUNDS | FUNDS | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||||
| 2021 6 |
2021f | 2021 | 2020 | 2020 F |
2020 f |
|||||
| Fund balances | at 30 | June | ||||||||
| 2021 are represented | by: | |||||||||
| Tangible assets | 2,331,750 | 2,331,750 | 2,331,750 | 2,331,750 | ||||||
| Investments | 1,702,058 | 1,702,058 | 1,459,850 | 1,459,850 | ||||||
| Current | ||||||||||
| assets/(liabilities) | 2825 | 19,797 | 16,972 | 2,825 | 18,811 | 15,985 | ||||
| 2825 | 4014011 | 4016836 | 2,825 | 3,772,789 | 3,775,614 | |||||
| 20 | MOVEMENT | IN FUNDS | ||||||||
| Unrestri | ||||||||||
| Funds vested | in the | cted | ||||||||
| Trust | Trust | income funds | funds | |||||||
| Religious | Religious | General | ||||||||
| education | Diocesan | Education | Diocesan | funds | Total | |||||
| 6 | 6 | 8 | 6 | 6 | 8 | |||||
| As at 1 July 2020 | 3,715,566 | 8,883 | 44,480 | 3,860 | 2,825 | 3,775,614 | ||||
| Income | 248,354 | 1,465 | 57,023 | 284 | 307,126 | |||||
| Expenditure | (7,610) | (58,294) | (65,904) | |||||||
| At 30June 2021 | 3958310 | 10,348 | 43,209 | 4,144 | 2825 | 4016836 |