Charfty H￿b•r. 23J8 ANNUAL REPORT AND FIPIANCIAL ￿ATEl￿Ep1rs FOR TrE YEAR EMDED 30 JUNE 2ft2 8WAN3EA & BRE￿1 DIOCESAN TRusf INCORPORATED Rowrt dthe TNst•Bs for Ihe>•ar ar￿1 30 June 2022 Ind&F￿dent A￿lI10T•. RIM￿t to Memb￿ of 8warMa a Br09￿ DkK•san 11. Stalemont of FlnarKW Actlvwgs Onthdlng Income Exp•ndlkY• 14 Sheet as at 30 June 2022 16 Nolo5 totho Fin•xlal Statomentskn tho Yew Enthl 30 June 2W22 8WAN8EA a BREGON DIOCESAN TRUST INCOmRATED REPORT.OF THE IRusfEES FOR THE YEAR ENDED 20 ￿lE 2022 ONCLUDING DIREcfoR3 REPO R•port of th•Tn•ta•8 forth• y•w •nd•d 30 J4m• 2tr12 Tt* tr￿18¢$ of ￿ Swan8ea & Bre¢w Trust {th8 Tru9( the Charlty, tho C(¥npany) are p*ed.to present th•ir onrwal reput twhwwlth the audttgd flnarthl 8tatem•rt8 rf tho &•fortr• y•ar •nded 20 June 2121 Th• slattsnpnts have tKen wgpwed In a¢ead￿r* wFth ts aC￿x￿n0 p￿￿1￿•81 out In fv rnt to.Ih8 $lalomenls and Com￿. th the ¢h8rflJV$ Mom(Yandum aNI Arlkles ol A$8oc4alion. Cornp8nles Act 2CI)6 and 'Accounllng ANI Rewling by Clmrftlos: Staterr￿t of R•commthxled Pracilc4 applleatle tOd￿rIll&S prepartrwd tFwacc4)unts kn accJY(kn¢ewlth the Flnarthl Reporllng atsndard appficable In the UKand R•publlc of Ir*and (FRS 102) 1 JaN•ry 2019r. Chalrfs P4port Thkn 13 my first rewl as Ch* of th• &warffjea & Brerm DIoc05an TnJ6t ItKorpxxated and I was 9rn8ty oured lo bo InvRed ty my tsllw tNBteeJ to •MurM lo th• rd• of Chak * our m8èlng kn NtrMmber 2022.. Through the y8arthe Edu(*tton T￿￿t ha6 SUppN￿ our 8 VA 5th￿18 arAI 8 VC schools a(xoJ8 th• Dlocege. We ¢onlinug to Irf64rn schwl bulldlrvJB ￿ to man8ge th'e CWI Rep8tr and M8lnten&nce Progr•n {CRAMP) for our S￿￿013. In Jln• wlth dlre¢*fve from tho Welsh A8Bembty G¢)vwnmenL Tha dIBrA￿lon$ vthh schooL8 wl8hlng to i￿%)me Church kn w￿8$ S¢hool8 PAV• The Educakn TJu8t was ernrniousty di8appokrt•J at P(I￿V4 County Councl's pryosal to ¢loEe Uanliodr Chw¢h In WalB5 Schod. At th0￿me d %*Tlllng Pw8 County CoL*KII ha8 Égreed ts delay IMp￿Men￿On of Ihe prcwsd from 31st August 20f2 to 31rt Augusl 2023 pondlng a T￿eW ofthe CrIc*hov￿1 Ixlchrnent arn and we (onlinue lo Bupp(*t pupNs. leadws. parwts aThJ go¥￿￿3 durirvJ thL8 rMorvJ*w p8rto 1 grn pka88d to h abb to confrm that the laryl tran8ferfrJr Archd&￿￿ Grffths 8th)ol was complthd durf the year. Al documentatlon IB now ¢%￿p1&9 orKI the flnal <￿trIbUtIon t￿¥￿d& thè bulld e REPORT OF THE TRUSTEe8 FOR THE YEAR ENDED ao JUNE 2022 (INCLUDING DIRE REPO Ow purpoJa8 and alm• The pYlrKlpd pwpo80 of ts chwly iB'the m4nagon*nt(A Ilbxe ehureh truslg In th8 Dlo(*88 ofSwonM8 L•nO btsldlN> l￿d undor thBBe Iru8ts. Fund8 hdd under th880 tru8ts and also ensures that tho Indlvlduol funds arn rrAMged and Inv*d to th8 b8r*Tr oltho re6p￿￿¥• aImk￿l￿tly• truste￿. Thv d)arity its (tycllves of the management of the clwr(* trusts thrwh regular mootlngs of the trust•e8 8nd rnguiw kNestrnent rewts. Retum¥ on Inve8tment are monltored h Ilne with market ￿nd[li¢m Ing IJenchMar￿ and tho FTSE Ind1￿. ObJ•ollv•• and xtmilw forth• p￿11¢ b•n•fft Dwlng the year ￿ Tru8t has conlknued Io SUW¢Ki tth Its Voluntary Aklgd volunt￿ C(rt01￿ 8thod8 with thelr flnEr￿al Jnd educ4tknnal needs by prov18k)n of grants and 8(fv*•. Through mod￿rn Ih thndren of thè In whith th8 8¢￿>01$ ore located are nurttvod In a 581e and c8rlng envlronmert Tr 8dmi5svTh ￿l1(ab$ appli8d by ts Governlng BtyJte$ 8t each Df th8 $d￿oL8 are aprKoved ty the Iwal é(k*alk)n aathttlues c¥)rThmed aNI ixthlde the apkYor*knts level of opwluntyfor Ihose rK>t alMlak41 to the Church In Waleg to oblakn a(Imlitar￿ kn Ihe ¥chools. Churth woperty ts rnado av8Jtat48 to the wlxl¢ Ihrough ￿MMur* u56 whth is erKourag8d. The Ir￿113 of th8 oplnk*n that tt shoukl asBist communibeg. PArtkuLqrly kn fural area8 kn tsclllll88 are olthw 01herwl . avallgbtg or arn Inthuate to provld8 Bukable wopety. Through these acth th• Tw81 con5klorB I￿1 It fulll8116 resporisibilty io to th& bentht In IiB 0por￿on. The tnJsle85 hgve h*J rogard to tho Charw CommL*ton'8 ouklanr* on publk bengfft In pknnlrwJ rArryhy out the charW$ prowrne. FundralBlng acilYlll•• Trust do88 Mt erygg kn fundraisiro 8￿mI￿ to Inency sr*fvlt85. The thorKy ¢ontkws to Support Volurtwy Aklgd a￿1 Vckntary Controlled Sch¢xJls wlth Ihelr e¢*xath)nal .8ndflnanGlal no¢dB as de8Ctbed 8bove.11 •lso¢onllN8sto adas (yJstodlan truBteefiK Indmdual trus15 V05tod wlth tho ch* aNI cubtodi4n Irustees of18nd by p3r*hes. A full Ilst of cu6todlon trust fund5 a￿10T lunds h•td on bolwlfof DkJce3an or￿n*￿tIon815 pr¢Wk￿j on pageB &9. ' T￿Cha￿h8& devcthdthe Managw￿nICllr￿•8IfflenI5t0 Brv•An thlphkn Ltd as de8Cflbed kn th8 Investment Pollcy and Perf￿F￿ 88Ctlpn. 1Th468knenl p￿0110 ￿h￿Ved ts benchmark retums set ty the West￿nt¢0mM￿188 tho tru81ee¥ are 8atlsfled wlth 1rNeSth￿nt pwlmnco. The diwty ha8 8UPWrted ttsVolunleryAklgd orKIVolun* Cwtrollod Sthjolsvmh Sthool ￿¥l￿ar#I fkn8r£ial SWAN8EA & BRECON DIOCES4N TRIIST P4CORPORATeD REPCXU OF THE TRUSTEES FOR ThE YEAR ENDED 30 JUNE 2022 ONCLUDING DIRECTORS REPORT) (eonUnu•d) ReStr￿d furth net Income for lh8 ￿ was £37,785 Q02t not oxpondttu￿ £&69n bth galr4 on IrNestments and pmpwty rev•tuatb ¥uppryt both Voknn* Alde(l and Volurty Cthlknl Schoo&. Tho Tn*t wovt(led furKllrvJ ofÉ26.720 (2W21.' £24.088) to &¥8ns•a and 8r•oon DkJLwn Bwd ofFIna￿ UinW to ￿T9.8u1vyI th? ofts Dhxeson Dtr•ctorrf Edu(xlon. School Ixrfkllng costs met by tho Tn*t weve £15.678 {2021." £13,041). Th• Wd6h As8ernbly Grnnment (WAG) In&Je avalaNe granl funtkng of£23.516 for 2021-22 and 2022-2023 (2021￿021. £18.861) through lis C*1 Repth and Malnienar￿8 Prc¥Jr8mmo (CRAMP) for Y¢lun* Aided S¢1￿￿8. The CRAMP TU[* on ann￿ basts from Awl to March. Due lo thg" o)nstralnts.on actlvhres rèlated to Cov1￿19 roslrt*or* £2.144 was alloc*ted durlw the Trusf* rdal yw. Afurther£19,339 h8s been awardod PDSt year errfl. The 3)21 fin•nclal statements IFKluded a wovlslon £68&318 be￿ the Dlor•8n Tru8Ys ntrlbLrtk)n low8xds the ￿lId costs lor the Archdearnn OrSffltr* VA Churth In Wale6 School In Ltyswen. Durfrvj the year the Tntst recew and paKI the fin•1 Invol￿ ￿ the surn of £540.071. frnm CC the f(mnal completbn of a L9nd 8WdP of woperty at t￿ school Site bettvwi the DI0￿$an TA￿ Pwts CC. over provlslon of £41245 is re¢orn prop6rl&s ara val￿d at £2,301,1th (2021; £2.331,7450). Th Kmwties ar8 valuwj by a 7.6 mulwler to the raleable value of each prppwty. Durlw tho year a d8ycendent of t Or￿]nal domr bf Nantmel Sth)ol contacted Ihe Trust clalmlr@ ￿ krterest In the prop&ty under a rnverter. Nantrnel Sthod has been remov•d from th? educalton woperttss vthauon forlhe PLffFm of the lIna￿d 8totements. Thè volu• rncorded for the 2021 fi￿ana191 Stst￿bnts wa8 £34,SW. Also duri￿ theyear th8 rat0a￿e vdue of the Clwrch In Wale• at Bryrytrri￿ Rhayador Inu886ed re8uMSrry In 8 £3.750 Increase in Ihe valualh)n of tha property. TIK• prlnclp81 fvrKlhg sour¢e 55 th? Tr￿￿¥ Investment &￿rtIO110. Thg post COVKI relxwèry of Iho IkwnGial markets slallÈd during th8 year {￿￿ to the Imr¢ct of irfkntkjrn hlghw Intrnt ratss arKI the conftiL* Fn Ukraln81 Thb Is refiect¢d In a dedlrn In value of tha Tnjst's Thiaslrnnt. pcKtfolb to £1,588.790 (2021: £1,702,058) des￿16 ftdt8bno galrty on Investrn•nts of £59,819 (2021: ￿•t1$ed gakn £104.511). Th Tntst'J IrWestM￿t Incom& hK¥8a8•d.to £55.998 (2021., £43.367). 8 rebjmtotho IBv•18 enjoyed prlor to ts #tart of thè COVltk19 p3rn18mic. De8pl8 thè wrrent thahnge8 to fir•nL*I markgts the Tnrnt'8 Inveslrnent managers are ftyecasuw thai knve&tmont Incom8 wll be NHtntalngd atthe current levels In tho noxt monts. Durlng th8 yew the Trust re4lluned the holdlngs kn Its Investmenl portfoh) to refiect the ch8W to ￿ RBCIW Ethl¢¥l InVe¥th￿nI Paliw aiyoved by tho Governl￿ Botyln w 2021. Cov1￿1? For Ihg DIoc058n Tru8t the f1rAr￿￿￿1 Impad of COMD-19 bèen l&## rrthlol th8n ant￿p￿t￿j at th• The Im8tm8nl p￿110110 vduo d£1,702.058 at the start of thtrfinanciol year repr98entsd hlgh88tqu•ltrty tKxknllo valut recorded by Iho Trust Indudlng pre COVIt>19 quarter ands. Dwing lh• cuThentllnancbl yaar St ha5 been othor f*iors swh as Infiauon. hlpher In*re8t rate8 and the eonfil(a in Ukr•lM that b•en thg maln factorn Impthg Investment v￿U88. SWANSEA & BRECON DIOCESAN TRU3T PICORPORATED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 alNE 2ffk2 (￿CLUDIN0 DIRECTOR8 contlnu Inve8therrt ITKome d £55,9gB (2021: £43.36n15 a $iglllcant Snryea88 o)mpred to the We¥1(￿ yeor 8ThJ r9we5￿ a relLm to ts level8 erfly￿1 prw to the itart of the Cov1￿19 pandemk. As referred lo ab(No dosptte th? challonges to finandol rnarkets the Th•f8 IrNeslmMt m8rw• &Y8 fDrnXtH¥ th •strn¥rt IrKJyna bD m•kntslned ￿ th• (xwrenl Ir￿16 In tho r*xtlwdvo mpntrA. For the year eNJ June 2Q23, tho tru8tag8 have 8pwowd g budget th91 wlll enaNeth8Trustto N8 c￿lIent19¥e1 of swort to tho VA and VC Bchookn in the DILxeg8. Moviro forw￿ the T￿￿199& gre Iwful th3t Inve8lment ￿11 be M￿￿18￿)￿J at preyrvJemtc18vd8 8nd remakn aware Ihal It￿Y have a torm cornmitrmntto *upF4xt ed[K￿On In tho DIo(x88 and I￿nCe￿ of maintakniw an IrNtsibnert portlolio to generale futur• IrK¥Mne. The trustee5 wnslder pgrfwmvK* Indkath lo be rnt fin(￿ndI￿re belL¥e4 gakns on hvestnxnts f(Ythe Ilnarwl yéar and ts total fvnd8 ¢athulfor*wd at 30 Jjne 2022. Net IrKOm&(￿pond￿tUrO) fr*lhe yew boforn goins on Inv8Blments 37.ll6 {8,59n Tol81 fund8 e8rrl8d fcrnrd as 8t 30 J￿6 4918,V27 4016,836 R6•ult•- Unr••trfcW Funds The net movement¥ fDrthe y8or M uwe8trkntod funds are a5 foltm:. BalBnee broughtfcfivard R6•uft•- R•8tTlthd Fund• The ng1 movwrnnts for tho ￿ on re*kn¢ted fimd8 wé a8 foMow6: Net (exwKlthro) kwes ¢Jn inv•slmonts Gakns on revaluallon and d15F¥M￿S LIf￿ed 8¥¥et 6dtKXk)n wert Npl movemert kn funds B￿an¢* forwa (97,909) 4014011 3916102 ThB fir￿n￿al statements dravm up to compty Compantol Aci 2LKJ6 aNI UK GAAP {FRS1ff2). The Irusts88 8re of the oP￿10n that tho rn8ulls for thè y•ar ar8 58tknf**ory arnj Il*t fv firbandal posSllon of tho cl*rity Tem8ln8 aoun(l. Inv••tm•nt Poll￿ WKI P•rfomiwK• The thartty has dèvofvèd Ihe manapm8ntolthe InveSth￿ftts lo Br￿An Dolphtn Lld. The boarf has requeBknI that the sums are inveBted in low to med￿M rL8k inveslm8nt8 wh115f maxlmlslng th8 retum Ilw grnate so •5 to provlde Incom6for ts chwhy so thot11 bts Owecu￿8. SWANSEA & BRECON DIOCE&4N TRUST INCORPORATED REPORT OF THETRU8TEES FOR THEYEAR ENDED 30 JUNE 2ff22 (INCLUDING DIREcfoRS REPORT) Iconllnu•d) ' An Inveslmrt c¥Jmmll&ie 58 rn8pMthl8 fty Il* 8dUng and r￿n9 8tratw of the Tnrsvs In¥wlnwts, and for monltsing ￿ wfornianrA* oflhe Tn￿t'S prfoltO8. The Invostffj￿nts aro matkn in fum a￿o￿larth the Etrk•l Inve8lment Pollry a￿t￿j by th? RBCIW. kw68knonl prfO￿O wa5 restructs￿ durlrvj the yaarto rel￿ the ctsngos to the RBCIW EthkBI Irwo8tm•nt Potlw approvod ty the GoÉvnlw Body In 2021, rioThly th&t no inv8Stm8nts would be In ary wnpany dgrlvkfj mom th8n 5% of it6 knnoverfrom tho prod￿tkIn ￿ the oxtracthn of f08811 R•B•rY4B Pollcy charrty alms to malnlaln Itslgvel of DIo￿Th Church Sthools axl ￿lUIgU￿ EducalM reserv¢9 Infutw8 ye8rs to enabl8 li to contlnu• to effe¢tWy support ib Volunlary Aided aThl Voluntary Cok*ollod Schools wllh th@ired￿￿tIOnal and fiMN¥al noed& Tho GhBrfty's total ré38rrfe6 ￿ £3,918.V27. orwhlth £3.916.1IY2 {2021: £4.014.0111 are reBtrlctad fvnds.whkh ￿￿1.0[)0 (2021: £Z331.760} hekl kn tsed assels and rg&Yesenl the valu& of the School wyrtl88 pwn8d ty lh8 trust ond.£1.588.790 (2021: £1.702.0581 hgkl in lorvJ terrn Invesknents. As notsd earlipr in tNI rBport the Invo8lments repre8enl long-terni. commmment to 8UPPOrt educat[￿ in the Diocèse and h6rTh the IMP￿1￿ of malnlalnlw an ITN¢slment prydollo to generale future rnwme. Tho (tslvs a189 Ix)Id¥ uTrre8trided funds of £2.825. Prln¢lpal rf•k• and unwlalnt De[￿ry of a hlgh*ualty servKz conllnue8 to be a high prvxity for Ito trusleos and Ihwe 1$ onwlng dknlogue wth It* b&neffl¢laT￿8 ofthè charW$ fvnd¥ to £r￿fe servk¢s wovlded are don8 80 In ￿ efficlent mann8r. The Irustegs (xJn51der thal th8 Wtndple a 81gnlr￿ fall In gl(*￿ strKk mwkfrt and dot¢rKY of general e(xxwmfc (¥)rKlllion8. 8tandln9 C•mmlti•• charlty 1$ marnged ty Ihe Standing Comrnlttee. All membw8 of tho SlandlrYJ c￿n￿l￿￿e are tru8tses of clwliy 8nd atso dlrethrs ofthe ch8rKat4e company. M*hr•d of oppolrtkng T￿￿* Thg StaTKfing Corr#nltleo wn61sts of the 81shDP (gXryoIPKlo) and up lo nkne membern electad at knMo1 General Meetlng. Members ofthe charity ￿ appointed thg 81shop arnj are 88lected f¢Y thelreyb8e and exper￿nCe. All merrl)ws of the Standkng Commllte8 are tn*t88s aNJ membBrB of Iho Induollon and Trolnlng of Tnmto Fouowing tho Diocesan Audlt Commltse Reporf, IFKluctkn packs wll bo av8llaEla for nthv trustee8. TrnknirYJ 8vall•blofr<￿n ex*mal wlder816(*ntinuglly reviwrnd andoffued totrust¢e8as approprfate. Durlrv th8 yèar truBtw %%wo Invtted to gttend the Onr%￿ All Woles Clwlty Go￿nan￿o, LeLV & Fknance ConferenGe 'whkh Snduded guldan(* on b¢lng a Irusteo together wllh a wlda varlety of inforrnalivo sosslon8, offoTing practlcal advice and guldance from a range of èxparts. Custodlan Truste• Trust hold8 s￿$ a8 CU8todlan IN8te The Injslees monmty t1￿ r*ks assoc￿ted eath asset ￿ are h tho proceys of puttlng kn place 4 ¥erte8 of wntrol8 to safegu¥d th8 assets. T￿ control¥ are regularly revl8¥Md and upthd or 8m8ThJed ac*Ordi￿lY when It18 con8klerad neLWSWy. 5WANW & BRECON DIOCESM TRUST IICORPORATED REPO1￿ OF THE TRusfEE8 FOR THE YEAR ENDED ￿ JUNE 2022 {IMCLUDIMa DIRECTOR8 REPORT) (¢onlln Plam lor lh• Vutur• Tho luwm pl8ns of tho trust w• b conlinuè wlih th8 inve5tr￿ pollcy of ornurfro sullh)1grt r8tum6. both IrK>)m• and caphl to bo able to mlllnt81n a •t6aty IrKaY￿ Stream tr eduth and th• The ¢ompary Is a wistor•d charfty and so athlevemerts tyinol be me85ur8d by nornid La)rnmerelal crllerf8. A¢¢tydlngly. thg trust0•5 CCAwhler It Inapyopr*te to pregenl 8 Profft and Loss Account In ong (1 th8 form•l8 set QLrt In the Compenies Act 2rMx P4 the cth)p￿teS Act. In or(ier to refiKt Ihg 8ped81 r￿1• cf the compBrf8 aclfvStk8. a SlatemBnt of FknarKW AGd￿lIeS Ikls bEen we•gnt•J. Rof•1￿ and admlnhiratlw d•t41• Thefull ofthe (*wly Is Swansea & Brecx>n DlocosBn TrLAI I￿rpOrated. The Swarffjea & BreroD DA)Ce￿ Trust IrMxYFMntsd (the c%)mpany) b a n￿1t￿l•¢0￿d stswcbJr6.1118:. A reglstwe%l (No.235831) A￿mF￿￿ knited by warantee {No. 00211214) Atjust 88t8b118h9d undor th6 Conslllutbn of tho Church kn Wal￿. The ￿npanY w88 set up uThJor wovl8lon$ of the Constitutkn of the Clmxch In W8k6. Chatyor IV. and PaT8waph le. Th? ¢(ffiwany was inLwKxaled as a ctrAr*y kntted ty guw8rt08 on 20 JaThJwy 1926. c￿ty was r8gister6d th the Chwlty coMmk%sl￿ on 13 Janwy 1965 and 13 exempt.from Unked Ktrvdom Ino¥)me and c4xpwalon tax. The goveming document of the Cowy b the MemDrandum and Arudes of Assr￿jaI￿n. The wnwny moats Sn moTrUrKJ Itree tlmes por annum. Thè day.lw M￿ag￿ent of11￿ ￿MpanY delegatsd to tho VX¢￿t￿m commit￿, ￿knO98 members we the tru8tees of tharhy and dre¢knWLrf the npany for the purpose ofconw8ry Lqw. Th8 company does nol have a share wlal. The truste8￿￿eth guarantee to (1)ntri￿ to tho a666ts of the Compary. such arnounl 48 may be wulred not exceedlng £1 per guarantor. Th8 number of guarantors •t W Jun• 2022 11 (2021: 10). Mr6FB Dl8trkt Judgg V S B#icup Venerable J 8 Oavle8 The Venernble A N je￿￿6 Mrs. C. Ktrby Mr G Lthv15 Thg Rlght Reverend J D Lomas (appolnted 24th February 2022) Dr S Mrtcwl The Very Rev'd Or A P ShackeTI MrNOT Mr R WVJI L A Pa*8f SWANS.EA &.BRE¢ON DK)CE8AN TRUST INCORPORATED REPORT OF THE TRusree8 FOR THE YEAR ENDED 30 JUNE 2022 (INCLUDING DIRECTOR8 REPORD IC0rbtkn￿) T Dweiipbrt IT*￿d 14th Atyll ar22) MrJ Davwport (aP￿￿ted 1• WI 20221 Ind•p•nd•nt Audllorn AzetsAudlt Sw¥kxB, Ty D￿. Ume Tr•e CourL Cardlff Gate ￿SIn9$S Prt Ca'rdtff. CF23 8AB Prknclp818•hknrn CAF Bar* Lknlt6d. 26 Klngs Hffll Avenue, Kly Hlll. We8t M8llThJ, Kort KE19 4J(I Br￿n Dol)hkn Ltd, 2rn1 Fkxx. 6 Cdlaghan SquArn, &Ydvf, CF10 ovr. 8WANSEA & BRECON DIOCEW4 TRUST INCORPORATED REPORT OF THE TRUSTEES FOR THE YEAR ENDKI 30 JUNE 2022 (INCLUDING DIRECTI)RS REPORD (eontlnu•d) Funts H￿d a• Cu•todlth Tn*t•• on Bth•ifaf Olh• The ¥•lDLW tru•ts •nd furnls forthtdth the Bowd 88 c￿ladI￿n tr￿180 ondl(Y Inv•8ts fvnd8 bot*Wof the Dh)c•w W9anlBation w• Ilthd belw. N•m• of Fund s M8ry8Tat Jon8s (Hhvaun) martyg￿ p￿tr￿0 cornprislrvJ equltie8, fixed Inl•rest stocks and LE8h James (Henqwm) Tru81 Man8ged p￿10￿0 C￿mprf$Iry ewlEes, ftsed InlereBt Stocks and OA Ca￿n Jam05 Grlfflths Setuements Mowed Fthfollo comwblThJ ewltteB. fryad IntereBt stoGk6 and ca$h Ml55 Jon8 W*tkiM {MorwJm*)l) Tru8t Monw poritollo c%Jmprf5ing aqu6t(e6. fixod Inlwo8t8kth and c88h Tl¥)mas Wllllams Beque61 No I Managod portfolk* comprisirKJ ¢qultles. ftyed inlere8t slc¢ks and eAsh Thoma8 Wllllams Bewe81 No 2 Man* portfollo comprising equlues, fwl Interest slwks ¢*sh MI88 AM H Games BoqU8St Man8g8d portfollo i￿)￿1$1￿ equIu￿ kntere5t sknxk6 cash 88 Ellzabeth Willom$ Benefaclth IAangg&J portfdlo Lxffiprf81ng ewities. fIx￿1 krttrest slocke and MA Lewk8 Twst IA8napl portl(4￿ wmwsirwJ equlues, flxwj trrterest ¥t(Kks and ca8h Btshop EL B6van Fund Managed p(xtldb equI￿e5. intsre8t stock8 arKI cash B15hop EL Bevan Trust Fund Managed PLYttdkn comwislro eqths. f￿$ interest stith and ¢4sh DI(￿aS3n Moral Welfarn Coundl Managed pryttotk) compriBlrKJ oqths. fixed interest 51ooks wid (x8h Mrs MA Rees Tn￿t Fund Managed comprf$Sng gqullla8.'t1x￿ Ints￿t 8tock8 ar￿ Mlss ME Lerrfgo Tw$t Fund Managed portlollo r￿MpriSIng oqulll¢8, faed interest 8ILx*8 arn* (*sh Coknnel Str JJ Joneg Ben8fadon Mgnayd portfollo wi$lng tqullm fixed Intw*t stocks 8Th1 caeh Coknel Sir JJ Jon8s BequeBt Managed porlfollo ¢omprfslng equthg, fml Intere8t stocks arKI c85h WR L￿$ Berthctlon Kqanaged pothllo comw181ThJ equmbs. Inlwe5t stock8 and c38h Hgy Pwish Hall Tnjst FUNI Man8ggd portlollo comwl8irKJ equttss. ffixed intwest sto¢k8 and c99h Mi55 ￿ DavlBB Berdactkon Managgd portfolb comwSsiNJ 6quhles, fix9d int8re8t stocks a￿1 cash CE Cloaves Benof8¢tlon Manyd portfolkn compri$irvJ èquNles. Ilxed Inlere8t 8tock8 8fKI cash EW Mcryan Trust Fund Mwg8d wlfollo comprislng equMle8, )Ixed Intwest st(#*s arMJ ra8h Thomas v￿11[aM# Boque8t No 3 Man8ged pryffdlo comptslThJ equibes, Ilxed Intwest siocks aFxI Lfewetyn House Trust Fund IAanaged PKrfolio ¢0￿1?￿1n9 equrfe6, ffixed Interest stocks arnl rn¥h EW Wllllarnson's BBque51 klanagad cYJffWiSlng equNie5. fwed iitere818tock8 oThd ca¥h Rev DH Plcton Bengfxkn Managed pcrtf(Aio comwblng equMi8B. tsed Inter￿1 Stocks 2rMI cash Pk4y Trinity Ho11. GLvselnon Manw pttydlo compri¥lng equltle5. thd Intere8t storkn and ReyrKldst¢n Church Hdl Mar￿ged porfdio comwL8lng Bquilies, fwed intor68t stocks and Cash JM Munro Bewest Mar￿5￿d pthllo comprising ewitiBs, fu6d Interest stocks And cash Mkn8 MC Bowon Trust Managed pwttolio comprtBlng ewitth, It)ter8st stock3 and caBh Mb5 88Tthg Dun(an Trust No 2 Managgd porwdlo equltles. flxèd tsKero8t stocks and ialh Ihjdel Duncan Trust, Port Eynon Managed porvdkn ttsmprf8lng equlm flxed kntar8St slocks and (a6h Ponll8rgaer Sundgy S¢hool Tn￿t Managed porydlo c4mprf8lng eqvltlgs. I￿e￿ Inter881 $tttk8 and LkrKldeity Talybont cP￿re￿ H811 T￿￿1 Managed wffrjlo ttomprfslw equities. fLxed Interest St￿kS and cash K G￿n00k TTU8t IPenl*g8er) maTha￿d portldh) ¢omprislro ewitie5. fthed Inlere81 stocks and rA8h S&B DlrKe58n cout￿11 fcr S￿181 Work Managed wffiolk) comprirylng ewlkn, llxed Inlern8t stocks and cash All Salrt8 chU￿h Hall T￿t, Ponterdww9 M8napJ portfdlo comprlslng equttkn, f￿1 brteml 8lock8 and Enoch Mlles Legy FUNI Managed porwollo Com￿81n9 equfftl* f￿0d ￿rterest strKks and Ml88 Vargaret Grwles SmSth Legacy Fund MAnapd ptsrtfolkn comwS81ry wulll8B. fmd Ir*98t 811th and ¢8gh RE VaLvJhan Prire Be(Nwt, c4)d￿en Manapd portfolb ¢x•ywrf8lr¥J aqu111￿ fix￿} Irrtwest stcth aNt cash Ll>wYl SL¥xlay School FurKI Ylhltton Church Hal FUTKI EaBtrnoor Tnmt Fun(1 ' ThAyrn8 Tn Chur¢h Hal larKI Tn￿t Eduth Trust Si Clwri* &vanw Pwochlol T￿1 Managed IKthllo comwblr¥J owitles,fLx•d trrterest sto¢k• 4rrfl (• Mon8gBd pwwollg equlU85. tséd 8tocks MÈnag&l pwuollo corr¥ytslrwJ equikn, I￿•d InknBt stodr8 ond r•h Mèngged wvoilo ￿ftV￿1n9 equ11186. inlw•8t stock$ and ¢08h Manag￿1 C4>mwtslry equwes. ftred Internst $tock8 8fKi (¥¥h Managed pcrtlofkl ¢omwtslry equlle8, r￿e￿ Iniern5t stocks and L*sh M&rwed portldkn ¢omwlBlrvJ equMg8. ts0(i Intere8t 8tc#*$ and calh Managed portfolkn Com￿91r¥ I￿ad trtsrogt •tocks cuh m￿aged I￿rtIo110 etyiEles. IntoreBt 8to¢ks and ¢0 Managed pwwdlo comw*lw equns88. fixed Intwgst stoGkB and ca8h Monaged Forlfolk• COM￿1￿ equtues, I￿¢￿ thtere8t stock8.8nd cash Managed wWolk> com5xknlry equtJes. IIMd Fnlerest Stocks and ¢8#h & Ch8ptw. . LlarYNdLgn Parhh Twsl Oyslermouth TAP Fund Reynold8toft Churth Hall FurKI GI38b￿ ParlBh Emlrwnent Gltstuy Pw*h Inve8tThnt AE Gough TruBt Db(wan Boar¢1 of Flnar U8wmlet18nd & c￿rCh HAII FurMI St Clawch 8recon Llangattock Communlty Edycatlon Tfu8t- Cash L8TrJ al Blackplll- Cash St Bamaba8 Church H811 Trust r)r s￿an Rk*-E(frI￿￿S BequeBt Llanblster Church Hall Par*h of Penllergaer MarHged wtlolkn comw*lryJ 8qulYos, Intere&t stocks and M•rwd portfolkl comwklw equNkns. fwl kn(¢r￿t stoths and (*sh Marwgod porifdio thmwlslTVJ equlttes. ￿ed Intere¥1 st*xkB and I*Bh Managed portlollo compdslTrJ equmes. tsed Interest 8lo¢ks ond wh MarwgEd pwttdk> comprfstr¥ aqullle5. fixed *rtor88t Stopkn and ttgh Inve8tff￿t Fund St Gabrfef3. Sw8n8¢a. Inveltr Fur#1 Lkroadwn H(Kffjo & Hall Nel Sal Proc• Norton Okl S(*thl Room N•t Salg Pro(*8ds Coed y Bol>n Common Not SBle ManagBd conv￿￿ equllle4 fixed Intffest stor*3 8fKI G¥ M#n8gad portfdb equitie& fffjd hknest st(th s￿1 Ixh Mamyed pothAk>furK15 are hekl in separately Id8D*iNgd 8ccounts by Ihe1Trrn8trngRi Mwwer Bre•An Iwhin Ltd. Cash funds we held In t￿ Ditiwn Tri￿¥$ bAnk accounts. 10 SWANSEA & BRECON DIOCESAN TR116T IKORPORATEO REPORT OF M TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022 N4CLUDWG DIRECTORS REPORT) (¢onlln ryth oppltrAble law wd Unlted Klr¥dom Accounlro Slondard8 (Unlt&l Klwdom ¢3enernNy. kcepted ACC￿nI1￿ Prxlce). Compory L￿ rnqulrw Ihg Inth lo prepare I*wKaBI 4tat8ThnLs for eath 1kn1r￿1 wl#i gkn • IJ And fa* of the sl*e of affgirs ofts arKI of the IrK%¥ntry Tesounw wxl a￿￿k￿tkIn of raww. Includlng ts Inccffla and expendlture. of the chwttabl? company fr* thatyear. In wepartng Ihe8e fhenclal stslements. the tfusieès are requlred to: - select Sult￿19 oCtounllFVJ pdl*s and then £pptx thom con818tenlly. - observe tho methods and wlndples In tho CharilleB SORP: - make ￿d9¢monts and estirr￿tsS th8t ara rea￿nable and prudgnt. 8fKI - prepare ts fin8ndal statements on the golng conesm bas18 Ur1￿ tt im IMpprorKkts'to presume thot the ¢h8rity VAII r￿n14￿e In opwakn. The truslo98 responsQAe for kee￿ng ad8qu8tg a0￿untIng rec￿d5 that dL8rJose wllh reasorwbte ac¢u 81 any tlnig ￿ fjnanclal posiiion of the ¢harJty en(i enable them to en$uTp thal th8 fin9r￿1 8tatwn8nts comp wlth the Companies Acl 20[￿. They *• dso respon61ble for safeguwding th& sssets of ￿ ch¥rtty arKI henl for to￿ng r•&Bo￿ble slep5 for the preYenlh)n and ddectth offrnud and othBr lffegularMk•s. By onl•r of th• Both of Tnwt Mr stu￿ Bthup Dlr•ctorifn*t•o D•t• 10th Il•r¢h 2023 11 INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF SWAWSEA & BRECON DIOCESAN TrUST INCORPORATED Oplnh>n We Iwe &Klited tho ffn•n¢l•l stslemerrts ofSwarMa & Br¢¢on Dk>cesan Trust IrKryrated (the'dArW)ftir th yjw ended 30 June 2022 whth oomprk* of financial acllvHi8s, th8 balance slrt. the st•terrwrt of cash ffl(YWB erKI the notes to the fflnanckl stthments. Includlng • burnmary cl swificwrt . acc￿￿n9 Wl¢i&8. Tho flnwKlal reportlnp fr8m8w(*k that ha8 been aprAied In IB Applk•b low arKI Unilè(l Klrydom AccI￿ntIng Staxlwd8. hKludlng FInark￿ R8PDrtlng Standwd 102 Ttr* FknAN¥8t Rep￿￿1￿.Stsn0ard ap￿￿• In UK and Rowbllc of Ireland {Unlt•d Klngdom G8rffjlty A(*gptod ACCO￿11￿9 PrJGtk•).' In tyJr op[nI(￿. tl* IrwKlal slatemonl8 ¥Mve a arnl falt vlvw rf the stale of the (**rttthle CA)mpan￿3 affatr8 ab at 30 June 2W12 •JY of Is In(Kming resourLYS and oppfkallon of wetsourco4 for the yaw then endod. h&ve beon In acc1>T￿WIth Untted Ktrydcffl General￿A¢t￿p18d A(a￿UntI￿ Prackn: and have bp8n weparod li a(x¥xda￿a wlth ts wulrements o!th8 Cornponle8 Art 2(K&' for oplnlon We ¢mduclod our audlt In ac￿rdance wllh Intemaknl Stand¥d• on AudA*￿ (UK) (ISA¥ IUK)) and appkable lav. thJrre6ponsEbllltkns underth08e 8laKlgrdg Breflllther d￿￿bod In the￿d￿0¢S r••pO￿l)IN18ts ' forth• oftho financlal 8ta!emorrtS Bethn of our report. We are Indep￿dent 0ftr￿ chBrlty In ae¢ffilance yAth thg dhkgl roqUtr￿Tront6 trol Of• rotwant lo our audtt ofthe flnan¢lal statemerth h the UK hKtudhg the FRQS Eththl Sl3Nlard. arnl hav6 fuifiiiod OLr oth¥ athl¢al responslblltie8 In ac%ordance wlth these qulremenls. We belth that Ihe audll evidence we have obtal￿d is sulf￿l￿nt arKI approwlal8.to provide ba818 our opkkn. I￿lon¥ r•l•Ung to golng COn￿M In auditir￿ the fina￿la1 staterrftnts, vffj hw8 that the tru8teO•' U6e Lrf tho golrvj conc8m bA819 of accourtlng In th• prfjparabon of the fwwrthl $tet0Th￿ts ts apwoprfate. )Nlil•)ns ttrrt kndmdualty or cdlKttv8ty, may cast slgnif¢ont d¢)ubt on thg a￿lIty to eonunue aB 8 golng for a pwlod d ot16ast twth monlhs frprn ttle fIn￿cIal 8talen*nt8 we lor Our reBWmBlbllltkns And ts rn8pon8lblNUeJ of the tr￿18•$ wlth resp￿t to golw arn d8•tt1befl In th• r•lovart 8K¢k)r* (1th1s Oth•r Informallon Th¢ other Informatton rx)mfv8 the Infomwli)n inclu(led In amual rewrt other th￿ Ihe fffiandal 8tatellwnts and our audIt￿S report thweon. The tnwtees we resp(mllle fDr the olher Infthallon ￿ntaIned rythin the annual Tqmlrt. opinion 6tatements doos not ¢ovw the other In1￿MallOn and we do not expro88 any forni of'assurarrn CO￿auS1o￿ thereon. Our re8ponsblliiy Is to read the other trrformatlon and. In dotry r•0. ¢ortherwhètherthe other ufftxmatlon18 materialty Irw)n¥istont with the flrAnc]al statemer or wr krKyh*e oblaln&l In thè courd8 of the or otlwthse appears to ￿ n*tsrWy mi9818ted. If we kjentty 8uch matgrfal IncOn￿$t￿￿ or apparent mater181 mt88tatam8nts. VM are rnwired to deknlne whètherthts rkne toa matsmal mth6tatsm*rt In theflnarK4al 8tatemer)ts thgmsef￿B. If, b9B￿ rnthgvKffk wo have pérfomied. VA condud8 thatthere IB a n*rfal misstatsmentofthls other Infomwtkjn, Th*arfj r4uired lo rnpcrft tlwt f8Ct. We rthlng to rewt In nyird. 12 INDEPENDENT AUDITORS¥ REPORT TO THE MEMBER8 OF SWANSEA & BRECON DIOCESAN TRUST INCORPORATED (cortknu Mattèrn on whl¢h M w• r•qulred to rwt by •wpUk)n Wa have nothlw to repjrt In resp￿1 (A the foll￿¥thg matter5 in r¢lalw lo whl¢h th• tharfll•8 (Acryxmts WKI Rfjports) RtyJ8llon8 2LKI8 requtre ￿ lo rwtto ff. kn tyjr oplnh)n: the flr)anThal 8tstemontB ore nDI In agmmffit whil the wxomting re￿￿. or ￿t recebvad all Il* Irrformalknn and explanthtis rewtre for our •Ldt. Rwn8lbllltl•s ol AB 8xpLqlned mora fiAly In thg 8t*mert cl truBtees' resp(￿sIbIlI19l. 1rusto￿. vh¥J wo &kn0 thè dlr (rf the ¢h•rlty for I￿ purpose of cornpany &w, are rnsponsible thè owrnilon ofthe fir￿n￿oI statements d ts b8irKJ sallsfied thaittrwg￿e 8 trne a￿lfaIrVIew. andfor such Internal controtas the tNgtees delwmh)9 15 n•c*s8ary lo •nabk* th• prnpor&tk)n of finan￿81 statemonts tho1 we free from mi86tatemenl, ether C￿e to fraud or enDr. In preparkng the flnnlal 8talements. ￿￿trUs￿%8￿ are respons￿& for as8tt8 the elwlW$ oblmy to e£*ItIn￿ a8 8 golng corn￿. dlsdoslng. as app1k￿kn. mattern related to golrvj con(xm and uslng the golng concem ba8k8 of accA)untlng unloss ts truts1￿ elther to liwld•te the d)athaL*e compaThy or lo cease operallons, or have no Te81islio a￿ematI¥• Ixrt to do 80. Audllof• r••pornlblllilM for th• audll of tho fln•nclal stat•m•rt8 We have been appolnled as audltor under 8e¢tion 144 ofth8 Charitse¥ A¢1 2011 ond rewt In acwdm wllh the Act and relovant rewlatlom mafle cr having rffe¢l th8reurthr. Our obJe(1fv05 are to obtak) rea8(*w￿? 88sufwK¥J about￿￿th￿the￿r￿n￿￿1 Statements a6 a are fr60 from matwial misstgtamenl, whether due to fraud or error, afwj to issu& an report th81 Include8 0 cplnlon. Reason8lAg 95suran¢e 1$ a hl9h level rf aswranr• tmrt is not a guarants6 thal an audlt condu(led In cord8￿¢ wllh ISAS (UK) wlll always delect a material mi$$tatement when It exlsts. Mlsstalements can ar18e from fraud or error And ar• tt)n8KJered matedal If. Ind5vlduaUy or in agaregale. Ihey c(wkl reawithy be •xpe¢bJ to Irffluence the economlc declslon8 of UB8fs laken on th8 ba¥ls of the8e flnarthl slatfjmgnts. A furthEr ¢h¥GrI￿on of ow r86ponsNlltl05 Is avalaNfr on thg Finarnxal RwrllrwJ vftbstte at: httpsJfvrtTht.fro(¥y.uklaudliorsresp(ThlbllUes. Thls dgsupbDll lomis part of(xr a￿15t0¢s re￿. Ext•nilo v4hi¢h th• audtt ¢on8ld•r•d cyblo of drt•ctlng In•gularfll•B, IncludlNJ fraud Irregularllle8, Ir￿ud￿l fraud. Instanc88 of non-cornpllm vAth laws 8rwJ regulations. We desl i>cedure8'1n wth our reBW)n65bllllle6. (ArtllrMd abov8 and on the FlrAnclal Rwling Council's wthSte, t¢ dètsct materLql ml68tatemgnts In roSPrt of trr•sWlariti￿, WK4udkng fralhl. Wa obt•n ar￿ Wte c¥Jr urtl•rntar￿1rvd of erty. Its ￿trInI&s. MS conknl en¥konmen( aThJ Ilkdy fulwe v8loprnents. Incl￿dIng In rela￿on lo the lepAI and repulaty fr2mewoTk applI￿Ne Bnd how thv entity Is Comp￿r¥j wllh ttsl framework. BaBed on 1h15 unoorstsndlng, we Idertiry arKI ¥s$a88 Ihg risks of m*iial mbstatement of the statemerts. %thether due to fraud or 8Tror. design aThJ pwlorm oudtt pro¢edufe8 responslve to those rfskB, arKI obtain gudtt evwJ8nce that 15 Suff￿ent and approprlgteto provth a Lwbfor our oplnion. This incl￿195 ¢w8klèratlon of the Tisk of acts ￿ the •ntty th•tw￿ ¢ontr8ry to ¥plkable and reouldons. IrKluthJ fraud. In rnspTh to the rlsk al IWritlos arrfl noK¢mpllan¢è th la¥A and regulatx>n$, hx4udkng fraud, deslgned rKo¢edwes vknlch Induded: Er￿Uty of managomont and those thorged wfth gov￿or￿ around actual Ilwon 8 claims 88 wYII as thl. sUsp￿ted and allwed fraud. Revthng mlrth d ii)e8lirys ofthw wKh govwnan(*. As80s8lYYJ lh• exterrt of compliBnc* V•th the1ow8 and regula￿01￿ eortsldered to a dk8(* m8tarl81 effort on Ihe fina￿18￿ gtalfrments or Ihè opwa10￿ of the enlty through enwlry 8rKI Ingwon. Reviewlng flnanc181 ststement dlsclotsures le8￿ng 10 6uppothI dowmèntallon.to *8898 ith applkxbie Laws and regulatlons.. 13. INDEPENDErir AUDITORS. REPORT TO THE MEMBERS OF BWANSEA & BRECON DIOCESAN TRUST INCORPORATED (eontirnw P¢rforning *YJrk u￿r th• rfsk rf M￿a9•Mont. arKI ovwrfdo of c￿8, ￿￿udIng tOSttw of loumol entrles ond othor 2dJuthehts for apwowl•teneJ8. eV￿ati￿ tho tw•lrhrys8 r8li¢Mal• of 8knilfi¢ant tranBBdlons (Mrt8lde 1he rrfymat courne of bL￿IneSS rtvknh¥ acc4yJnllry eBllmth8 for IrKIKoior* of n1￿1 bk•. of th• h)hNent IlmllatliTh of an thKIII. Ihere Is a rtsk IW ￿ YAI Tr)1 d•tert all kr•gulvAkrf. I￿aUd￿ Ilw)90 l&adty to 8 n*tsrfal m158tatement In tha lIMr￿181818tèm•nts nonwra)mpl.iarrn wAh r•gulatlon. Thls rfsk In¢re0585 Ihg rr¥Jre thal compll8no8 *llh 8 Iw or regul8lk)n18 wThe(I from Ihe even188nd tr8rwctior refi￿d kn Iheflnanclal slatements, aB we VAII bè1055 llkdy to of Ir*n¢86 of nortre4)mKAl8nr£. Th• rlik of not d•t•¢Ung a malwtsl m168tatsment reS￿lI￿j from tra￿1 Is hlgher than fty re8uttky from error. 85 fraud may Inv(fve fwgwy, Inlentlon81 om186bns. mlsrewe8entaUoN or the overrMl• of IIB• of our r•pDrt This reFYxt l¥ soldy lo th8 ¢h8ritY8 truBle￿, a8 a body. Ip 8o(¥xdance Ylth part 4 of the Charftlg0 (Pawnl8 arnl R¢p)rts) Regulall0￿ W08. Ow audlt work has been undertakorb $0 that rnlght State to the trust•81 t￿se mattern we ara requked to Bt8te trj thwn in 8n 8udkns' reportaNJ for noolhgrpurpo8 To the fullo8t ex1•nt F¢rmlttod by I*w, do not accopl or aBBUm resporolbmlty to anyone other than tt (*8rty arvj the tharivs tnJ3teg8 as a body. fLY our a￿1 wJrK for thlB r•porL or for thg cplthn$ havo Awl hJF 24 March 2023 Az•ts Audlt S•ryl Statutory Audltor Ty Dww Limo Tree Court C*dfff Ga* Bu61no86 Park CF23 8AB Azd8 Audit SeNKts Is elwlblèfor aripolnbnentag auditwofthB tharKy bY￿rtu8￿5￿ ell9bltytrappohthent as wdltor of a (¥Jmpany WKler of8ecllon 1212 olth• compw10s￿ 20( 14 8WANSEA & BRECON DIOCESAN TRwf 14CORP(IRATED 8TATEMENT OF FINANCIAL ACTMTIE8 ONCLUIXNG1tr4COME AND EXPENDrruRE ACCOUNn YEAR ENDED SO JUNE 2tya2 pMyPlwwl*. 00211214 Unl•￿rIct￿l R¢•irfd•d Total Fund• T(tsl Fundj Fund8 DonaUorA and 2,144 1144 950 062f 59J21 12.924 43.433 67,207 69.321 R*lng funds: 324 7.610 Funds Dlstrtbutéd Charoe lo SCI￿1 Pror*ty V4 Support CoBts 48.124 12 30,750 2A04 30,750 4.200 5.970 Total tharftabl? •dMII Total •xP￿dttyrn 51286 51286 rwnised galnsnos N•t moNYmert In fvnd• 10 (104944) 7,B091 IIH944) I,￿) 249.819 241,222 Totsl fuTKl& bTougM forward Total fund• ¢•rYi•d fon¥a 17.19 17,19 2,820 2126 014,011 &916.102 4,01¢836 1918.927 3.775.014 Tthe stotement ofllnordal actfvttlBS Include8 81 Galns arKI10¥￿ mcognlwl In thfr All Inccffi8 and expendlturels dwivod from continuirKJ acthiS1185. The 8tstsM￿rt offtr¢ncld aeo wnpll96 vAth tho rgqurwnenb for an in¢om8 eXp￿d*Ure aCc￿nt urKler Ilw C(¥rwni8s 2LYJ6. 15 BALAIICE 8HEEfA8 AT.30 JUNE a122 TorvJlbl8 12 13 13010IJO X&31,7 . Totsl Ftxod 4U9,710 4,033.eA)8 14 43h 37.2KI CaBh at Bank and In h￿d 71.116 Ilhln one 19 29,137 11Q972) 918 4.01603e Th• fund8 ofth• ¢h*KT. 17 19 4.014011 Total ¢h•vlty fvnd• 918 4.01 compony 18 to Iho ex￿P￿ fr￿17 the aud]I wukfjrngnt contslned In •o¢1kn 477. of Ih Cwantespd 20tL fortho yoar an￿1 30th June %V224tl￿9h an ￿dI1 ha8 boon c*rt•J wwjeraec 144 ofithe Ch*ltkn Ad 2011. The th8lr r•8pmlbllllle8 for comp￿ty vAth the al ts C<¥npJnloB PIA moffl￿, hwe MI r•quv•d tho (*mpwy.to otlaln an a￿111.01 Is lknorthl 8tkn thxl•r tho raqulrnThwhts oftr* Ctynpathj *&2W6, for th• ya•r In wciYdaMowlih 476. ir 8ts*rt BalC￿P 16 SWANSEA & BREC(￿1 DIOCESAN TrUST INCORPORATED NOTES TO THE FIIIANCIAL STATEIENTS FOR ThE YEAR ENDED 30 JUNE 2022 GENERAL PIFORMATION The Swarnea & DI￿￿¥8￿ Truut Ir￿rated is a ¢haTIty. I￿1XpOrated In ErvJl8r#J W8186. f448t•r￿1 ￿lre6• [8 Swan86ft & Brecon Di￿>8$￿ C•nM CatsdTal Clo￿, Bre¢on. LD3 9DP, Wal8$. PRINCIPAL AccouimNG POUCES Th8 prlndp81 ￿￿ntIl¥d p)Ilcles adop￿1, ju(Wients and k6y 8ources ofe8lim*I￿ wwlalnty kyeparthn of finandd statoments ￿ 88 folbw8: a) Ba¥1¥ of yepwatlon These fjnsnrjal statements are prapwed ￿ the goiNJ ¢oncÈm ba81s under th8 hhtorf￿I corN*thn, M￿J)fied to Includs eartgln finan¢lal Irtsiruments atfair value. Th8 fin9T￿le1 8talements have bèèn prepared in Lwrdance wlih ts chaW8 Memorarthrn and Artirl06 of A$8(thtkn, th Ccffiponl￿ Aca 2C#)6 and "Acwunilng and Repthlng byCharlti8B: st9tementofRe￿￿￿ènded Practlce 8ppllcabl• ￿￿￿te9 pyeparing their accounts In a¢c¢nl8nce wlth th8 Flnancial Reportir4J Standard 8ppliL¥bte kn the UK and RepU￿1c of Ireland {FRS 102) (df8(1fv• l Januwy 2019r. Th• chirity is a F￿bI* Benoflt Enllty as ddnèd ty FRS 101 Tho finarKlal statements ar¢ rxepxed In stwlings whlth L8 the fukKthnal currenw of tha rth8rly, Mon*ry amounts In these fflnarKEal ¥tatem8nts are vJurKl•d to thg nearest £ The thority ha8t&%en atfvantsg6 ofthe proYMl¢)n$ In lh8 SORP for(*witle8 ap￿¥]￿9 FRS 102 UFxJ* 8ull•On 1 not kn prepare a Statement of Cash FlTh¥s. Th? wepara*k>n of 11￿¢￿1￿18tenWrts ￿￿1r0& th• of (wlaln crltlcal ￿l￿nt￿￿4 ￿t•￿taB. ft a180 rtywwes marAg8m•nt1o exerdse Its judgement kn the procms olapptylng Ih8oJmp*ry'¥ accountuw p0￿CIal. The areas inwtvlng a hwber degrée ofludgement w compbxty. or e4ea8 *t*re 880ump￿0rn and ¢6Umete5 are shJnMcanl to the kn￿la1 6tatem8ntB. av d18dosed In note 4. b) proprn￿Dn ofthe flnancw Btatements on e gdrvJ corKem ba Ats apwcylate erqulr* the truth&8 are ofthe vlw the clwrly 15 a wing eM(*rn. ¢) In(m pc4tAes. T￿rK)ver k the derfved fr(￿ a¢li¥itl••. It¢m8 ofhici¥ne are Y•cogni*d 8ry1 Included In the fman￿] swéments Wh￿ ￿ ofthe follo*rfrvJ ¢xli•ria aye The thority 1*8 •rdiUoff*nt io the fv4nd•. • any perf0rnlan￿ corKlftbn8 att￿ed to the ii•mG af inc4xnè have mel or arè fully wtthkn Iho contrcA ofthe charlty. 11)ero18 sufflclent certalnty tht rncalpl ofthe Income Is (￿Bid￿red pYob*o', and Ihe •nwnt can bo measurtd rellably. For lagath•, errtlvemenl Is tsken as tho ewl8r of.. . lh• dato on wtrmth th& charity is aww8 that wob)ts ha8 been wartod. th& estate has been finalised arnl noiifKalI￿ ho8 boen made by the exe(wlorfs) to th8 Tw5t that a d15tr1wbon wll ￿ mado: or whpn 8 dlstrbutlon16 w*lv8d from ts estats. 17 SWAIISEA & BRECON DIOCESAN TRUST INCORPORATED NOTES TO THE PINANCIAL ￿ATEMENTs FOR THE YEAR ENDeD 30 JUNE 21YA2 (￿ntInu￿) PRINCIPAL ACCOUNllNG POUCIES (¢ryrtlnu•d) ReCe￿￿al89*. Tni¥lw)le¢xln pwil6onlytr)￿klOrOd woLth vthBn thg amwrtC4n b8.measured rellat+4, 8rMI the dwlly. been r￿rfknd of th• gxeartots mako adlBtrbutk)n. Wh8rn1ogth Iw bee no111￿ tots ch8Trty. or the ch8rMy 15 •¥are ofth8 granthy of and tho eflterHfor kuime rwlion d) Grants lknaro re(ry￿Sed In ful In tho 8tateMe￿ of Acuths ID y* In Mthk41 tlw recelvable. Donaknl swvk48 ¢7 faCllft￿ fn rKcsnl8ed 89 Incom8 vhwn Ihg ch8rfty crxknl obw Ihé Item. any. )rKlrtlor6 assoc18￿1 ￿ th& dcmwted ftwn Lwn mat. the recelptoftt(xwk I)￿￿fr£￿￿th0 u80 by (Iwtyofthe Ilem b FY(4)8blearKI that wJrM)mlc benefft ba nwagu￿ relw. (kn rgxipl donated ser¥ke¥ arml 8rn recognbed on basL% rAlhe vakne clth8 gm to I￿ di8rfty anM)unt the tharly would twe ¥srfNng to payto obtskn S￿￿￿88 orl¥Mllle&¢Aequlvthntax)nomk brfrt on thoopen markrt a ccrnporn*¥ arnounlls th￿) recogrl8ed In expthNlliwp In thp perbd alrerAIrt htere81 on furKJ8 held depostt18 In(4uded kn rerthble the amount can b• m8aBured r•llaWy by the ¢h*iiy. Ihls15 normeny uprffi nIX￿ oftho Intsrn8t paKI or payablg thè g) F￿￿1 ¥Lwuntkng Gener81 Funds - are funds ¥kAch can ￿ Used in acc(Ydarte wlth the Chathb￿ o14eoll¥e8 al tt* dls¢relhM of the Irustee¥. Re8trkled F.unds- these are fund8 can b8 Lmd for partkular restrlthd purpr*es vAihln tho Obj￿ of the d*. Re¥trlcttorr8 arfse when ycifig'd by dOy￿r (K when funds we faaed for par1k￿* reFtrkted pwpoo88. h) EX￿￿11￿18 Expwdbrn Iv5 wr￿lad on(xthere IB a18gAI ry(mtruL*ive oblwkn to mak•a a IW party. tt oW>le Ih8t6elUemenlwnl tsrequkwj. 8Tr1th8 ￿Our* oftho oillptkn can b8 moÉÈured rnlfatly. Exp•idittn Cc¢'ts of ralslng fUr￿S compri59 the costs of Investment m8nagw8. Exp￿nd[tur9L)n chwitsbl• aEtlvttles Includes the dlstrlbullon offund6, 8ui4)rrfi(#)6ts arnl l) Allocatkn ￿8￿10rt,lx)S1I J) Ca•h at b8r* 8fvJ kn ￿8nd Ca8h at bank rash In hand Indudes ¢ash and shorl lom IKiuid inv88tmert8 vlth a 8hort4wln ffla￿rfty of three months lx les8 from lh8 d* of aLY4ui8ilion or openlng ofthe deptssl or ￿MIar account 18 SWANSEA & BRECON DKICESAN TRUST INCORPORATED NOTES TO ThE FIIIANCIAL sTATE￿N￿3 FOR THEYEAR ENDED 30 JUNE 2WIZ e•ntlnu•d) k) trstrumerls Thfj charly olecknl to¥r4)ty Il* prwknions of8eclkn 11 'Baslc FIn&￿181 arKI 8th 12'01hw lrntrumer)ts Issues. of FRS.102 to dl oflts fin8nc¥ InBtrurnents. Fln8ncktas8ets and fiots1th8 we withthe r￿amoUnts prttt6ntsd In thefrweid 81atements, ¥rt￿ thwe legally enfor￿ to 8at 47ff there(wnwd amounts and th•r& k an Intortion to $8lUe on a r*t bas15 or to real￿ the a66et and 8ott1¢ tho lAbll￿ $[Multan￿ty. Ba8i¢finonclal 488ots. th Indude dokn (x8h aThJ bonk bat0￿, arp inilwly meawr¢d at trarnaclion prk• kthlng tra￿eC110n co¥ts and a￿ suLwuenty ¢4rrfed at emortTr8ed ¢08t UBrt the effecUv¢ Inlwest esent value of the fvturo at a market rats of •)ttr88L assets recthab10￿1n ono >•ar arg Th)t arn￿￿. FlrArKial astsets are dwecogni#ed only when the Contr￿ rtihts to tho Gash fflows frorn tho 8s¥et explre or are 8etUed. or Ihe chwlty transfws the fina￿￿188¥£I and substantkqlfy al Ihe Tlgk8 and reward$ of h￿7 to ￿lty, or rf some slgnincant r￿kS Bnd rth¥anl6 of gre retalned i%rtcontrd ofthe 899th h•s tran￿er1ed to arthr pty th8t18 alle to 8011 the &￿t fft 6ts ontitoty to an Ur￿la￿ th¥d paty. Ba5K fin•rKlal Ilabllitt05. WK4udlng (Ye(litcn and ￿nklOanS 8re Inltlalty ra(>¥n￿ed at traftwlk￿ prfce u￿865 8Th8rvJ8mèntcon8tliute8 aflnanGlbYJ trarts8clbn. Ihe debt In8trument1s measwed atthe sYe8ent valug of the fuiure payments ￿rrted at a market r* of Interest. Flnan¢knl Ilabililw d868ffied as payable wlthh) one year *e nc4 amorlhe(l. Trad& crndrtors 8re OtAlga￿on3 to pay for gcthts or servw th8t have been In the ¢wdln¥y eour88 of Opera￿n$ from SUPF4iers. Amounts are c4assmed 85 current Uabllltb8s ff Pay￿￿1 IB due ￿rythIn ytsf or less. ff not, they are Fyeserrtod as non-aNreTrt ILablSth5. Tratle credliors are reLxgntsed iwtsally at tranBaG prk* and sutw￿￿Y mg88Utvd at amortibed Cost {￿Ing th? effe(*lve inittest method. Finanryal 118MItI88 are deremgnoed ¥th8n the ch8rltys obllpUonY expre or are dl&chwged Cf l) . FIX￿1 8890t Inveslmon18 subsequenty nwsured at klr vajuo at r8portwy date. CharfflJes kn falr value are rewlsed In ngt ¥icJ)mollexpendthre) yev. Tran*ti(￿ costs we expevBgd a8 IrrfxTrd. m) Land and buldlrfjs Propertkn wh06e lalr v8lu8 ¢an bo m•aBured f¢10bty we hekl und•r th8 revalu9t￿ mthlel aThl aTe wi8d at a revalued amounl, btsir& th8trfa1rval￿aI the date ofvaluatbn1858arysubwuenl accumulalod deprec&ik)n 8fKI sul>soqu8nl ac(xJmuiatad lrnpalrment kmes. Thè falr value of Ihe laThfj and buildiros18 U8ualty ronsid8r8d to be thelr market vth. 19 NOTes TO THE FINANCIAL sfATEMEiirs FOR THE YEAR ENDED 30 JUNE 21n2'{contlnu . R•¥a￿tIo￿ galn• and lo•MJ w• r•ccgni8ed kn othgr r¢wgnl4eci arnl I￿8•6 *KI accurnulated In equlty. ex¢epl lo the exlent a revattthn 98ln re¥orBo5 a rnvaluatkni IoB6 OU8ly recognl8ed In net Iw&l{expernJtlwe) c* a rovalualk*n10s8 ex¢¢6ds the 8(wnwl8ted rev8lu81bn galn8 recxyilsed ID such and arn rwra••d kn n Irmmd(W•Kllluro)tr Ihe yew. . All land Iwlldky held by the clw1tyf0reduc*k￿ purrx)8e8 am val￿1 by appljwig a mulupl of 7￿ to the propW￿• ral••bl8 v8ltn. The v8luatlon mèthothgy ha8 boon *Jopt8d ￿th f8fwence to the RICS Valualloft- Globgl Standords publl81)ed by ts Royol Instllute of ChBrtertd SurwiKs whlth wovldes 9uhJ8Hn8s for Iho v$lual￿ of wopwtbs 8nlk¥pthl mvketkng oxthnts arnl the valualKin of non.ttadiw wopwtles. Rov•rt•r• Where 4)n the dlsposai 016¢1￿1$ hthj by tb• clwty as WBtodt8n Intytee r•vwlers exlst. the o¢vd6 ofdisp05al, net of ￿1 costs and tayatlon, are remillqd to thg rwMte8. Inveslwkn Irlo rev¢rter $tslus1s made a and wh8n IoGal wthNtses rolurn such sdwl$ k) I n) Toxatlon AS a rngl8lwed thwlty. the tharlty18 enll*d'to the exemoton from taxdon h r08r*d of IrLxwng and co￿1 golns re(*Prfed wtth 478489 of the Corporth Tax Act 2010 and sectkn 256 of T8xallon ol. Charggable Galrts Act 1992 Ix• the extent that#￿se we applled to Its chartt8blo obJ&* purfv only. LEGAL STATUS OF THE COMPANY TheTruBt l# a Ilmlted by guararkn8 arml haB noghwe c8pltd. In the oviirrt ofthe rharfty l)o1ww￿rnl up, the kabilty in respect oftho Gwrantee [8 Ilmrted to £1 w member of lh8 therfty. DGEMEpifs IN AIIPLYING AccouMnNG POUCIES AND KEY SOURCES OF E8TlldATION ' UNCERTApirY The trusiees arB fequlred lo makti judgements and estlmateB and a68umpUDns about th8 caThywvJ amourt of . assets atKI li*>ilrtM that are not readh* apparent from Other S￿r(X8. The eslmatss assocla aB8umpts'(InJ gre b&8ed hlsforkal gxpWle￿ ar¥J f•th¥ t1￿¢ are I￿r￿ldered to be relevanL Adual resu￿3 may I￿r from Ihe¥e ykn'mates. estimates and Und￿n0 assump110￿ are revlewed on an onwng l)g8i8. Revi5i(Th to acwjntlng e8lmats8 are r8rA)grl8ed In th8 perkMI In whlch the e8Imo18 Is rev18￿ tfthè revL8lon affK18 only that pwkxl or In the p8rfod of 8rKlfvture mlods Ifthe rovkn affetts boih amnt Arnl fu￿1• wtods. ThefoltNlrvJ oillGalfvthJom8nts have twi mado In the process of appMng thè Clwvs wxw#hYJ polickn8 th¢ m￿1 *nlf*ont.thcl ¢Jn th• amounts rMinls•d In tho Ilrmrdal ¥t*menls revaluath)n d woptsts$ 88 deg¢xlbed kn hote 2 rn) above. SWANSEA & BRECON DKICE&4N TRUST WCORPORATED NOTE8 TO ThE FINANCIAL 8TATEPIENrn FOR THE YEAR ENDED 30 JUNE 2022 DONATIONS AKI LEGACIES 2021 CHARITABLE AcfMllES 20 Rert81 Inc4yn8 950 51998 229 43.433 SUPPORT COSTS 2022 Admlnistr8llon Foe Profes6bnal F (000) OOVERNANCE CD8T8 2022 ' Admlnl8tr8tlrn Fee AudlloTY' Remuneralk Comwmes House and Bank 89rt Profes$long1 Indemnty InBuran¢• 750 24 131 750 77 243 970 10 OThER RECOGNISED GAINS AND LOSSES {LosseByGwns on Inve¥tmenis 21 SWANSEA & BRECON DIOCE8AM TIIUSTINCORPORATED NOTE8 TO THE FIIIANCIAL STATEMepif8 FOR YEAR ENDED 30 JUNE 2022 (¢oTrtlnu•d) 11 TOTAL tXPENDtruRE SchDol• and 121 T4%•1 Fund• Inveslmenl ChwgeB Ed￿a￿oi1 Property Edurakjn Supp(xt Cobla ProfeBsior•l ftts (x>sts IrKwred il rnlalM>n to the Mte of >Y0p￿￿•$ Supwl Co 7,810 (21331) (12,331) 24.056 726 20.T26 24.C 355. 5.970 21.536 The credll lor EdiKotlon Propty Cc4t8 IJ a TesuR rf flnal 8um aolually payalAe In re8pe(l of the ¢oDtrIb￿n to tho Iwlld costs of Ar¢hdeacon GrSffithB VA Churth In Wal98 Sthool In Lty6Won £540.071. £43,2451858 than the y81￿ FYovkl8d for h) tt)q2(r21 Iln8nra81 stat8m•ts. 12 TANGIBLE FIXED A88Ef8 Propwde8 At 1 J*2021 30,750 At30 Jum 2022 C•nylng Amount ao June 2tr22 01 + 2021 Larnl and buKdlThJ8 wlth a LwylThJ emouni of £2.301.1M)O valued on lh• prinWoB provbJ8d by an an￿danI vduw. Durhy thg >wr. A deKe￿nt Oftho.￿*1nll donor of Nanlm81 School Lxwrtacaed tho Tn*i (4dmlrvJ an intwest th• proFwty undar a r8VOrter. Nantmel s¢￿01 Ims bggn removed from thg oducatlon wop8rMe8 valL*don for thè purpo￿ of the knrxlal 8tatemenl•. Th Valuè reL¥Jrdal for property In the 2021 financial statements was £34.600. ratsabl8 v81ue ofth? Church In W8le3 school at BryntYKin, Rl* IntreaB¢d In a 7SI IrK¥ea8frln thè vam￿lI0n Wthe prop&W. No Is provkled for FYDperty a• tru8tee8 ar• ol the oplnion that I1￿8 Lwmdlry are malntalned In suth a stale of repaLr thal Ih¢tr resldu81 Val￿ kn at le88t equal to thw falr value. As result the r¥JrmwThllng da￿￿1k)n ¥￿1￿1 ￿t b8 Nthrlal and18 thérefore Mtclwgod to tho SOF TNstee8 arn 8d8fiDd that the book valuo rewe86rts the fair valu• rfthe G¢PKoI8. 8WANSEA & BREC(XI DIOCE8AN TRUST w￿RPORATED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 contlnu•d) 13 INVESTMEIITS Investrnents ore Into Yorlws trusts 88 8hown bekw. 2022 2021 Book V•lu• Mark•t Valu• Book ma￿Value Diocesan ctr￿r¢h Schools arKI R￿￿lOUS Edu(*on FUNI Dlocesan Tru8tB 1A62 1.f19,243 1,311.074 1.&11,710 1A70,033 i.OK790 1.318.e64 1,702,068 Th• •bow Inv••tm•nts ¢an b• 4nalyud •• folloTh' 2022 USI￿ Irrmtments CaBh held by ItY4esln*nl manager8 1W207 1.878.188 1M8,790 1.701058 Th• y•aron y•Ar l• ￿ follow•: At 1 July 2021 Addllh)nB DL8PO8818 Gain on dlsposah of inve5tm•nts Unreallsed lots8 on inveslmenls Ga8h movemMt At 30 June 2021 1.702.058 431680 (461.605) 59.819 (164,783) The market valuo of Investments ha8 b•8n takAn 81 Y) Jun8 2022 and I￿ludeS 011 monles hokl on at co81. In accordwTh wlh FRS102 the figures Irbtheffinan(*l statements are martetV8lue oftho In*••knerls al ￿ June 2022. GalnB on Invostmen15 raalked gair* of £59.81912021 loss £104.51218YKI umil8ed ILw88 £164,763 (2021 in £145.307). giviw riy8 to a netloss of £104,944 (2021.. nel galn of £249.819). 14 DEBTORS 2021 Other debtors arKI prepwments Ni7fES TO THE FINANCIAL sfATEME•Tf8 FOR THE YEAR ENDED 30 JUNE 2fZ2 (conllnu•d) 15 CREDifoR8:'AIAouKfs FALUNG DUE YaTHIM ONE YEAR 2022 42 019 720 793 Th8 2(r21 acxx)unls inckKl8d ffislon6 knW&316 aNJ £108,098.bolnp ￿*￿rIbUti￿ towards the Hd ¢¢Ats ofthe Arcmeaeon Grhllths VA Church tn WAle8 School In arKI an exien8kn to tr LlangalkYk VA Church In Wal06 School ro8pecAk4dy. Thooe conlrknJllon$ wBre pald dwing th8 ye8r, tho $uffl$ aebJaNy pay*Ao bolNJ £540.071 in regp8ct of thh￿￿n Grsifth• VA. Church In Wal86 sth(x￿ th Ltymn £108.098 in rosp￿t (rf Uangatt(Kk VA ChLrch.In S￿￿￿1. 16 FINANCIAL IIISTrUMENT8 Instruments M•88w￿l al fatr vahje through 8tatsm¢rt offinwial actfvi 1.Ul,79f 1.702.058 17 RESTRICTED FV14D8 TN8t funds bwl•d In tho Tn•l Dlocwn Chur¢h School8 and Rellglou8 Fund &83fjJ38 3,886.310 10.348 3.96Q658 DiorAsan ChLrch anrfR8ltrJlou8 Fur Dlo(*san Trugt 44789 43,209 3.911102 4.014,011 The oa&iial af a group of I￿1￿klU6I tru8ts and funds tA• b••n l)va8l•d on blo¢ in (Ydor *> sch1￿ 8 steady Income and alkAVtrKJ for opftal grmvth. Inmlmenl dedBions are taken i) wlh ko gl¥en by thaTn￿r8 Investsmenl Managers. Thè of fwd• for th•lr d0tslllF￿ purpo••8 ar• a8 folloMF." Gr￿P TNsts MaYL Dloce•an Tn Grwp.Tru8ts Edwatton: D10c4￿n Church WKI R8llglou8 Ed￿tkn￿l Fund&. For tho cornIN¢Lbn andtr repairslo church xhod$ In the DIoc88e. 18 TRusfEE$ AND EMPLOYEES paymènls w•rg m•d8 tO.tr￿leaS durlng tho yew. The orty key m&wgm8nt persmMI are the There ￿re durlfio th• yw (2tr21: £MI). No I￿ur1ed ty 1ho Iru•tO8¥ (2021: £NII) In conne*Jn Thllh dutiO¥ 24 SWAIISEA & BRECON DIOCESAN TRUST INCORPORATED NOTES TO THE FV4ANCIAL STATEMEpif8 ' FOR THE YEAR ENDED 30 JUNE 2tr 19 ANALY818 OF NEfA58Ef8 BEfwEEN FiIND8 Fund b￿an￿ 8130 June Targlbb as80ts Investments 2,301.000 2301.000 1,J88,791 1188,791 2,331,760 2.331,750 1,702.058 1,702,058 a$setsl(ILqbllhles) 11 161V2 3918927 26 3 2 825 4 014.011 Mo￿1￿1{r 14 FUNDS TTUSt In¢om• R•Mglo R•llglous G•norn1 •ducalon Dl¢)¢•JJn Educatk)n Dloco••n fvnd• As at 1 2021 495V10 10,348 4,144 Irts)mo 89.037 284 Expwxliture 4,172 (104143) At 30 2022 339 3918*27 R•llglo R￿191Qu5 •duGmUon Dloc•••n Educallon Dlo¢•••n fund• As at 1 ￿lY 2020 4715M6 3,860 2M2B &7fO,814 5T,307 ExperKliI￿* (T.6101 (SB,2941 166,WJ4) Galrn on Investm￿ts 248.354 249019 At 30 June 2021 310 10 4016136 SWANSEA a ￿E¢oN DIOCESAN TRUST INCORPORATED NOTES TO THE FINANCIAL STATEMENTS FOR TrE YEAR ENDED 30 JUNE 2022 l¢oMlnu•d) An amC￿rt of £3.750 12021: £3.760) pwd & Brocon Dlocew B(wd of Fknonc Lknlted for admirlstralkn fees whkh 18 d￿06•d In wJmknistratKin expms lth th6 Staknthtt of The TnAI'wdwd £25,728 (2021: £24,068) to th• Swaraea & Br•c4M.DkKwn Bogrd of AnaM• LknStad to wrrtfltrAts tQAwd& Ethcauon Mlnlsty ciAts by1￿ Coryony. The tot818mount to tha Svmngea & Br￿n Dlo(*w Boartl of Fkwnce Urnled at tr* yearend 8.087 {21Y21: £15.119). Thg F￿tht R6v'd J D Lomas (appolnted 24th February 2022 arKI BrèL¥Jn Dlocesan T￿￿t and Swansea &'8recon Dloeasan BooJd of FlnAnc4) Th Ven Aon N*1 Jevons. Vwy Revfl Abert Paul Shthrloy Gw)for Lth¢A. FCA Thfr Von Jcrnthan BY￿ Davl8B Thè ¢xrrrant xrg*. Lwl•e Pev8M, ig ￿ omploye8 d this TBI¥￿ company and dld nDt I￿1￿• r&nuneratlon from th8 TnBt or payftwrtfcf 8¢pikx8 to ts Tnmt. JaTh8 D8venpwl Y•Trs appointed 05 the TruBf4 Bdkltor on 14thAprfl 2022. LW f•8s cl£ZO5612021: I￿1) were paij to H Vaughan Vajgh￿ & Co. a firm of solklth ofwhkh JameB Davenport IB a psrtner th￿ng the yw. TIM Daw)ort reBlgned 88 the TNsf8 801knttoron 14th fyxll 2(r22. Legd fees of£nll (2021: £906)wern paid to Rod Ktte, afjrm of8ofknkng forkn TIM o￿an￿1 ACt6d 88 ¢or4ull&rt unlll hlB we8lBnalkn In 2021.