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|CONTENTS||||||
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||||||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|
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|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|
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|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|
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|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|
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|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|
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|||||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|||
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|---|---|---|---|---|---|---|---|---|---|
|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|
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||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|
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|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|
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