RepDrt and Financial Sta
Adroddiad a Datganiad
For the year E
Ar gyfcr y Ilw
nadd
r ZOZU
LLE MAE FFYDD
YN CYFRIF
WHERE FAITH
MATTERS
WherE Faith MattErs
Lle mae Ffydd yn Cyfrif
Llandaff Diocesan Board Df Finance
Bwrdd Cyllid EsgDbaeth Llandaf
Llottdoff Diocesat7 Bot7ry1 of Flnonce Is o company
Irmiitd by zu(tryrTr¥ee not hrxyrng o $haFe cttpifol.
Regi%reredin EnEJllThl Wole5 488549 Regtered chgrityNo 242452
##
|Trustees'
Report (including
Strategic Report):||
|---|---|
|Objectives, Activities and Risks|2|
|Achievements
and Performance
Financial
Review|33-7|
|Plans for the Future|7-8|
|Structure, Governance
and Management|6-12|
|Reference and Administrative
Details|13- 14|
|Statement ofTrustees'
Responsibilities|15|
|Independent
Auditors'
Report|16-18|
|Statement ofFinancial Activities|19|
|Balance Sheet|20|
|Cash Flow Statement|21-22|
|Notes tothe Financial Statements|23-42|
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|||||||Permanent|Permanent|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment||Funds|Funds|
|||||Funds|Funds|Funds||2020|2019|
||||Note|||8||E|E|
|income and endowments||from:||||||||
|Donations
and legacies|||4|7,496,979|270,005|||7,766,984|5,662,157|
|Charitable
activities|||5|74,786|453,590|||528,376|279,202|
|Investments|||6|170,470|208,670|5,421||384,561|467,621|
|Other Income|||||04 257|||54,257|98253|
|Total income and|endowments|||7,742,235|986522|5,421||8734
1,78|6 ~07233|
|lExpenditure
on:||||||||||
|Raising funds||||46,389|7,315||789|54,493|68,264|
|Charitable
activities||||||||||
|Support for ministry|||8|4,492,871|779,406|||5,272,277|5,393,883|
|Support for parishes|||9|615,906|134,546|||750,452|647,094|
|Church
property|||10|96,647|1,182,568|||1,279,215|926,355|
|Grants and other financial||||||||||
|support|||11|1,550,241|60,219|||1,610,460|188,340|
|Communication|||12|107,508||||107508|8D 283|
|Total expenditure||||6,909,562|2,164054||789|9074 4D5|7 3D4 210|
|Net gains/(losses)
investments|on|||126,132|3,312|~3244||1262011|055,734|
|Net incomeffexpenditure)||||958,805|(1,174,220)|1,388||(214,027)|158,748|
|Transfers
between funds||||~067144|672 565|~5421||||
|Net movement in|funds|||291,661|(501,655)|(4,033)||(214,027)|158,748|
|Reconciliation
of|funds:|||||||||
|Total funds brought|forward||32327|9433619|17106030|211|320|26700 077|26 502 229|
|Total funds ceeded forward|||3,23,27|9,725,280|16,604,375|207,295||~26 53~6950|26,750,977|
##
##
|Year ended 31 D|ec|ember 2020|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted||Restricted|Permanent|Total||Total|
|||||funds||funds|endowment|funds||funds|
||||||||funds|2020||2019|
||||Note||||E|E||6|
|Fixed assets:|||||||||||
|Tangible assets|||16|416,087||15,136,773||15,552,860||16,064,051|
|Investment
property|||17|220,000||260,000||480,000||480,000|
|Investments|||17|7,514,014||115,724|183,022|7,812,760||7,754,302|
|Long-term
loans|||18|1,339,564||93,954||1,433,518||979,466|
|Total||tixed assets||9,489,665||15,606,451|183,022|25,279,138||25,277819|
|Current assets:|||||||||||
|Debtors|||19|80,319||183,747||264,066||216,551|
|Cash at bank and|in|hand||1740431,||1,111,143|24473|2076047||3 DD8582|
|Total cunent assets||||1,820,750||1,294,890|24,473|3,140,113||3,225,133|
|Liabilities:|||||||||||
|Creditors: amounts
within one year|falling due||20|~1071735||~224 511|~200|~7296446||~1,103,453|
|Net current assets||||740015|,|1,070,379|24273|104306,7|,|2,121,680|
|Total assets||less current|||||||||
|||liabilities||10,238,680||16,676,830|207,295|27,122,805||27,399,499|
|Creditors: amounts|falling due||||||||||
|after more than one||year:|||||||||
|Loans from the Representative|||||||||||
|Body ofthe
Church||in Wales|18|(513,400)||||(513,400)||(543,400)|
|Parish Grants
Governor Loans||||||(2,500)
~69955||(2,500)
~09950||(19,167)
~05.055|
|Total net assets||||9725280||16604375|2D7 295|26536950||26750077|
|The funds ofthe Charity:|||||||||||
|Endowment
funds|||23||||207,295|207,295||211,328|
|Restricted income|funds||3|||16,575,331||16,575,331||17,076,986|
|Unrestricted
funds:|||||||||||
|Designated|||22|3,527,025||||3,527,025||3,253,514|
|General||||6,012,096||||6,012,096||5,993,946|
|Revaluation
Reserve||||186,159||29,044||215,203||215,203|
|Total charity funds|||27|9,725,280||16,604,375|207,295|26,536,950||26,750,977|
##
##
|Ye|ar ended 31 December
2020||||||||
|---|---|---|---|---|---|---|---|---|
|||||||2020||2019|
|||||||6||6|
|Cash|flows from operating
activities:||||||||
||Net cash provided
by operating|activities||||(579,417)||(997,926)|
|Cash|flows from investing
activities:||||||||
||Dividends,
interest and rents from|investments|||379,140||460,874||
||Purchase of property,
plant and equipment||||||(1,988)||
||Proceeds from sale ofinvestments||||1,133,960||577,723||
||Purchase
of investments||||~4,006,270||~331.45Q||
||Net cash provided
by investing|activities||||446,882||705,150|
|Cash|flows from financing
activities:||||||||
||Net cash provided
by financing|activities|||||||
|Change
in cash and cash equivalents||in the reporting|||||||
|period||||||(132,535)||(292,776)|
|Cash|and cash equivalents
at the beginning|||ofthe|||||
|reporting
period||||||3 D00 582||3,301,358|
|Cash|and cash equivalents
atthe end|ofthe reporting|||||||
|period||||||2,076047||3.008582|
|Reconciliation
ofnet income/(expenditure)||||to net cash|||||
|flow from operating
activities||||||2020||2019|
|||||||6||6|
|Net income/(expenditure)
for the reporting||||period (as|||||
|per the statement
offinancial activities)||||||(214,027)||158,748|
||Adjustments
for:||||||||
||Depreciation
charges|||||511,191||510,693|
||(Gains)/losses
on investments|||||(126,200)||(955,734)|
||Dividends,
interest and rents from|investments||||(379,140)||(460,874)|
||Decrease/(Increase)
in debtors|||||(501,567)||317,363|
||Increase/ (decrease)
in creditors|||||130,326||~568,122|
|Net cash provided
by (used in) operating|||activities from||||||
|operating
activities||||||579,417||997,926|
|Analysis ofcash and cash equivalents||||||2020||2019|
|||||||6||6|
||Cash in hand|||||2,865,625||2,825,638|
||Notice deposits (less than 3 months)|||||10422||182,944|
||Total cash and cash equivalents|||||2,876,047||3.DD8 582|
##
|Anal|sisof chan
as inn tf|n||||||
|---|---|---|---|---|---|---|---|
|||||||Other||
|||||New||non-|Balance|
|||Opening|Cash-|finance|Interest|cash|cardied|
|||balance|flows|leasesf|changes|changes
E|forward
6|
|Cash||2,825,638|39,987||||2,865,625|
|Cash|Equivalents|182944|172,522||||10422|
|||3008582|132535||||2876047|
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|||Balance|||Investment|Investment|Balance|
|---|---|---|---|---|---|---|---|
|||1 January|Transfer|Incoming|gains/(losses)||31 December|
|||2020|offunds|resources|Outgoings||2020|
|||5|K||8|K|8|
|Retired clergy||52,681|3,365|174|||56,220|
|Parsonage
board||9,871|664,200|133,768|(761,850)||45,989|
|Schools funds:||||||||
|External grants||15,781,481||348,264|(475,551)||15,654,194|
|Accumulated
funds||686,167||182,435|(492,227)||376,375|
|Sundry trusts||66,452||1,613|(501)|1,569|69,133|
|Bishop's mission
fund||||2,320|(2,320)|||
|Transformation
fund||58,940|||(58,940)|||
|Landscapes/Journeys|in Faith|27,310||28,721|(50,440)||5,591|
|Church
Improvement|Fund|1,500||25,500|(24,919)||2,081|
|Community
Development||336,537||36,305|(53,151)||319,691|
|Restricted
Donations||||5,256|(5,256)|||
|RB Evangelism
Fund
W.O.D.S.||85,091|5,000|221,175
991|(221,175)
~77724,|1,743|75,101|
|||17106030|672565|686522|~2184054|3312|16604375|
##
##
|)
Movements|on R|est|ricted
Funds|rior
ear com|arative||||
|---|---|---|---|---|---|---|---|---|
|||||||||Balance|
||||Balance||||Investment|31|
||||1 January|Transfer|Incoming||gains/(losses)|December|
||||2019|offunds|resources|Outgoings||2019|
|||||6|6|8||8|
|Retired clergy|||48,150|4,172|359|||52,681|
|Parsonage
board||||638,640|166,811|(795,580)||9,871|
|Schools funds:|||||||||
|External grants|||16,103,273||150,744|(472,536)||15,781,481|
|Accumulated|funds||822,027||121,145|(257,005)||686,167|
|Sundry trusts|||73,940||2,345|(6,825)|(3,008)|66,452|
|Bishop's mission|fund||||7,440|(7,440)|||
|Transformation|fund||166,675|||(107,735)||58,940|
|Landscapes/Journeys||in|||||||
|Faith|||||62,347|(35,037)||27,310|
|Church
Improvement|||||||||
|Fund|||||25,500|(24,000)||1,500|
|Community|||||||||
|Development|||369,044||25,727|(58,234)||336,537|
|W.O.D.S.|||75.056|5000|2772|1 324|3587|85091|
||||17,658,165|067012|565,100|~I,765,716|579|17,106,030|
##
##
|Year ended 31 Dece|m|ber 2020|ber 2020|ber 2020|ber 2020|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|4.
DONATIONS||AND LEGACIES||||||||||||
|||||Unrestricted||Restricted||Total|Unrestricted||Restricted||Total|
||||||Funds||Funds|2020|Funds|||Funds|2019|
||||||5||6|E|6|||||
|Grants from the||||||||||||||
|Representative
Body||ofthe||||||||||||
|Church
in Wales||||||||||||||
|Block grant|||||1,489,782|||1,489,782|1,489,782||||1,489,782|
|Other|||||1,724,201||221,175|1,945,376|8,333||||8,333|
||||||3,213,983||221,175|3,435,158|1,498,115||||1,498,115|
|Parish Share|||||4,210,477|||4,210,477|4,102,689||||4,102,689|
|Parish
&School contributions|||||||25,375|25,375||||1,940|1,940|
|Donations/External|grants||||72,519||23,455|95,974|47,533|||11,880|59,413|
||||||7,496,979||270,005|7,766,984|5,648,337|||13,820|5,662,157|
|The Board benefits|greatly||from|the involvement||and enthusiastic||support
of|its many
volunteers.|||In accordance
with||
|Charities SORP(FRS102),the economic contribution|||||||ofgeneral volunteers
is not||recognised|in|the accounts.|||
|5.
CHARITABLE||ACTIVITIES|||INCOME|||||||||
||||||Unrestricted||Restricted|Total|Unrestricted||Restricted||Total|
||||||Funds||Funds
6|2020f|Funds
6||Fundsf||2019
6|
|Support for ministry||||||||||||||
|Hospital chaplaincies|||||||||(762|)|||(762 )|
|Stipendiary
secondment|||||26,828|||26,828|33,578||||33,578|
|Clergy school grant|||||3,000|||3,000|3,000||||3,000|
|Grants for work on parsonages|||||||2,912|2,912||||10,662|10,662|
|Support forparishes||||||||||||||
|Staff recharges|||||25,348|||25,348||||||
|Schools receipts|||||19,030|||19,030|17,905||||17,905|
|Licence income||||||570||570|360||||360|
|Church property||||||||||||||
|Grants for schools capital projects|||||||382,950|382,950|||150,744||150,744|
|Schools contributions||to insurances|||||67,728|67,728||||63,715|63,715|
|Communications||||||||||||||
|Directory sales, copying charges||||||10||10||||||
||||||$$7$$||$$$,$$$|$2$,$7$|54,081||225,121||279,202|
##
##
##
##
|||Unrestricted|Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||Funds
f|Fundsf|2020f|Fundsf|Fundsf|2019
f|
|Bank and other interest|||4,969|3,751|8,720|10,791|7,181|17,972|
|Dividend
and|trust income||145,348|2,317|147,665|191,715|3,234|194,949|
|Rental income|||20,153|202,602|222,755|20,140|227,813|247,953|
||||170,470|208,670|379,140|222,646|238,228|460,874|
|Permanent
Endowment|||||6421|||6,747|
||||||384,561|||462,621|
|ermanent
Endowment||income|off5,421 relates to Investments.||||||
|.
OTHER|INCOME||||||||
|||Unrestricted||Restricted|Total|Unrestricted|Restricted|Total|
|||Funds
f||Fundsf|2020
f|Funds
f|Funds|2019
f|
|Community|||||||||
|Development|Fund||||||||
|sundry
income||||36|36||174|174|
|Sundry Grant|Income|||54,221|54,221||87,847|87,847|
|Other sundry|income|||||10,232||16232|
|||||54,257|54,257|10,232|88,021|98,253|
##
##
##
|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||Funds|Funds|2020|Funds|Funds|2019|
|||||||5|||5|
|Support for Ministry||||||||||
|Sii end|n|nein||||||||
|Stipends||||2,174,449||2,174,449|2,211,082||2,211,082|
|Curates'stipends||||265,355||265,355|231,784||231,784|
|National
insurance||||248,551|1,651|250,202|248,838|1,617|250,455|
|Pension costs||||99$,135|6,480|999,615|1,049,783|6,747|1,056,530|
|Appren0ceship|levy|||10,788||10,788|10,776||10,776|
|Archdeacons||||54,918||54,918|79,815||79,815|
|Cathedral
stalf|costs|||99,626||99,826|67,071||67,071|
|Sector ministry|stlpends|||60,$71|17,754|78,625|55,064|17,389|72,453|
|Bishop's Chaplain||||29,167||29,167|28,568||28,568|
|University
chaplains||||$$,332||33,332|32,591||32,591|
|Vacancy fees||||10,318||10,318|33,595||33,595|
|||||3,980,510|||4,048,967|25753|4,074,720|
|Council Tax||||254,705||254,705|232,782||232,782|
|Parsonage
maintenance|||costs|871|707,370|708,241|2,125|738,144|740,269|
|Rent ofcurate|houses|||5$,445||53,445|36,157||36,157|
|Parsonage
insurancss||||22,403||22,403|21,772||21,772|
|||||331,424|||292,836|738 144|1,030,980|
|0||||||||||
|Ama deans' expenses||||105||105|4,091||4,091|
|Amhdeacons'|expenses|||7,3$1||7,331|14,450||14,450|
|Removal costs||||51,275||51,275|61,919||61,919|
|Bishop's discretionary||fund||19,095||19,095|19,095||19,095|
|Miscellaneous||||11,212||11212|17,465||17,465|
|||||89,018||89,018|117,020||117,020|
|~Treinin||||||||||
|Training costs|ofordlnands|||1,$90||1,390|2,842||2,842|
|Robes for Deacons||||3,000||3,000|2,429||2,429|
|Continuing
ministerial||education||3,959||3,959|11,251||11,251|
|Readers||||670||670|1,322||1,322|
|Clergy school|||||||3,716|||
|||||9,019||9.|2
60||21560|
|Support costs|(note 13)|||68,383|46,151|114,534|73,288|52,062|125,350|
|Governance
costs (note|||13f|14,517||14,517|24,253||24,253|
|||||9 900|99|1|9|02 062|9603|
|||||4,492,$71|779,406|5,272,277|4,577,924|815,959|5,393,883|
##
##
##
|||Unrestricted|Restricted|Total|Unrestricted|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
|||Fundsf|Funds
F|2020
6|Funds
6||Funds
K|2019|
|Parish Share refund to parishes||198,008||108,008||203,740||203,740|
|Debt provision||83,595||83,595||(22,296)||(22,296)|
|Uppsala
link||481||481||1,874||1,874|
|Community
Mental
Health|||||||||
|Chaplaincy||193||193||19,427||19,427|
|Sector ministry costs||227,535|67,931|295,466||199,348|8,957|206,305|
|Transformation
funds||1,016|58,941|59,957|||107,735|107,735|
|Centre of Mission||7,674|7,674|15,348|||||
|Loan interest||||||(2)||(2)|
|Support costs (note 13)||62,902||62,902||70,671||70,671|
|Governance
costs (note 13)||34,502||34,502||57,641||57,641|
|||615,906|134,046|750 452||530402|116,602|647004,|
|0.
CHARITABLE ACTIVITIES: CHURCH PROPERTY|||||||||
||Unrestricted||Restricted|Total|Unrestricted||Restricted|Total|
|P~||Funds
6|Funds
6|2020
6|Funds||Funds
6|2019
5|
|Custodian
expenses||8,218|4,601|12,819|10,414||1,163|11,577|
|Pr
ert
costs re|churches||||||||
|end church ha//s|||||||||
|Diocesan Advisory|||||||||
|Committee||60,207||60,207|105,841|||105,841|
|Resource Church||(2,551)|213,277|210,726|2,551|||2,551|
|Church
Inspections||5,300||5,300|21,100|||21,100|
|Church schoo/s|||||||||
|Depreciation|||491,723|491,723|||491,723|491,723|
|Insurances|||70,119|70,119|||65,969|65,969|
|Option appraisal,|enabling||||||||
|and maintenance|costs||379,050|370,050|||125,492|125,492|
|Bad debt provision|||||||6,252|6,252|
|Schools proceeds|release||||||9,530|9,530|
|Support costs (note 13)||7,880|22,534|30,414|10,069||24,968|35,037|
|Governance
costs (note 13)||8,503|364|8,867|14,206||37,077|51,283|
|||06,647|1,182,560|1,270,215|164,161||762,174|926,355|
##
##
##
||Unrestricted|Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||Funds||Funds|2020|Funds|Funds|2019|
|||6|6|6|L'|6|E|
|Grants to Church in Wales|Bodies|||||||
|Retired clergy and widows|||17,723|17,723||1,324|1,324|
|Churches
fund||3,000|24,919|27,919|4,000|24,000|28,000|
|Mission fund grants to||||||||
|parishes||27,247||27,247|33,666||33,666|
|Support grants to parishes|1,422,324||5,257|1,427,581||||
|Support ofretreat facilities||5,000||5,000|5,000||5,000|
|Llandaff Cathedral||60,000||60,000|60,000||60,000|
|Bishop's mission
&general||||||||
|fund|||2,320|2,320||7,440|7,440|
|University
Chaplaincies||10,805||10,806|10,877||10,877|
|Trecco Bay Mission|||||1,250||1,250|
|RB Emergency
Aid Fund||16667||16667|16687||16,667|
||r|S45043|50,219|1,595,262|131,460|32764|164,224|
|Grants to Anglican,||||||||
|Ecumenical and other||||||||
|bodies||||||||
|Penrhys
Ecumenical
Mission||3,500||3,500|3,500||3,500|
|The Friends ofthe Clergy||||||||
|Corporation|||||300||300|
|The Trussell Trust|||||300||300|
|Citizens
UK|||10,000|10,000||10,000|10,000|
|Community
development||||||||
|grants||||||2,536|2,536|
|Miscellaneous||1,698||1,698|1,200|6,280|7,480|
|||5,198|10,000|15,198|5,300|18,816|24,116|
||1,550,241||60,219|1,610,460|136,760|51,580|188,340|
##
##
##
|nd analysis ofsupport
and gover|nance
costs.||||
|---|---|---|---|---|
||General||||
||Support
f|Governance|Total
f|Basis ofapportionment|
|Salary Costs|150,744|24,946|175,690|Time spent on activity|
|General Office costs|71,301|4,551|75,652|Tiine spent on activity and floor space|
|Diocesan conference expenses||159|159|Governance|
|Audit||5,562|5,562|Governance|
|Diocesan registrar||24,000|24,000|Governance|
|Meeting ahd other sundry costs||1,024|1,024|Governance|
|Legal fees||3,532|3,532|Governance|
|Legal fees (restricted)||364|364|Governance|
||222,045|6, 3|||
##
##
##
|.
NE|T INCOME FO|R THE Y|EAR||||||
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||||Funds|Funds|2020|Funds|Funds|2019|
||||8|8|6||8|E|
|This is|after charging||||||||
|Auditors'|remuneration|-audit|||||||
|fees|||5,562||5,562|5,400||5,400|
|Depreciation|||19,468|491,723|511,191|18,970|491,723|510,693|
##
|No expen|ses were paid to any trus|tee, other than for|travel to meetin|gs
where cl|aimed.|||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||||2020|||2019|
|||||5|E|6||
|Employee|costs during the year|||||||
|were||||||||
|Wages and|salaries|418,146|33,275|451,421|407,263|32,601|439,864|
|Social security costs||37,315|2,780|40,095|37,023|2,723|39,746|
|Pension contributions||30,918|4,580|35,498|31,347|4,485|35,832|
|Termination|payment||||36 DDD||36000|
|||436376|4D 635|537,614|511,633|39,809|551,442|
##
##
##
##
##
|16.
TANGIBLE|FIXEDASS|ETS||||||||
|---|---|---|---|---|---|---|---|---|---|
||||Unrestricted|funds|||Restricted funds|||
||||||Furniture|||||
|||Office|Office||and|||||
|||~Pr mises||1|f~ittin s|Land||Schools|Total|
||||||6||||g|
|Cost||||||||||
|At 1 January 2020||629,053|15,634||20,603|61,757||24,586,148|25,313,195|
|Additions||||||||||
|Disposal /Written|off|||||||||
|At 31 December|2020|629,053|15,634||20,603|61,757||24,586,148|25,313,195|
|Accumulated
depreciation||||||||||
|At 1 January 2020||213,258|9,287||7,190|||9,019,409|9,249,144|
|Disposal
/ Written|off|||||||||
|Charge for year||15726|1900||1702|||491,723|511,191|
|At 31 December|2020|228,984|11237,||0 !102|||0011132|9760335|
|Net book value||||||||||
|At 31 December|2020|40D,069|4,397||11,621|61|757|151175016|15552 060|
|At 31 December|2019|4157ll5|6347||13413|61|707|15566730|16D64 D51|
|17.
INVESTMENTS HELD AS FIXEDASSETS||||||||||
|Property|||||Unrestricted|||Restricted||
|||||||funds
6||fundsf|Total
6|
|Investment
Properties||||||220,000||260,000|480,000|
##
|Listed Secu|rities||||||
|---|---|---|---|---|---|---|
||||||Permanent||
||||Unrestricted|Restricted|endowment||
||||funds|funds|funds|Total|
|||||||K|
|Balance at 1 January 2020|||7,457,006|109,695|187,601|7,754,302|
|Additions|||1,041,251|12,782|12,185|1,066,218|
|Disposals
Revaluation|to market value||(940,048)
~44,105|(8,113)
1,360|(14,856)
~7,900|(963,017)
~44,743|
|Balance at market value at 31||December 2020|7,514,014|115,724|183,022|7,812,760|
##
##
|7.|INVESTMENTS HELD AS FIXED|INVESTMENTS HELD AS FIXED|ASSET|S (CONTINUED)|S (CONTINUED)|||||
|---|---|---|---|---|---|---|---|---|---|
|The|original cost ofthe above investments||at 31|December 2020 was||65,491,709(2019:65,358,575).The above||||
|investments
are valued at mid-market||valuation||on|31 December 2020. All investments||are in listed securities and the|||
|investments
are all less than 20'/0 of||the|appropriate||listed company.|In 2014an additional||fund was set|up with the|
|stockbrokers
to hold funds on a medium|||term basis||for income yield,|but which is realisable to cash on short notice.||||
|8.|LONG-TERM LOANS|||||||||
|(a)|LOANS-FIXED ASSETS|||||||||
||||||||||Balance|
||||||Balance 1||||31|
||||||January|New loansi||Capital|December|
||||||2020|Revaluation||repaid|2020|
|||||||6||6|6|
|i Unrestricted
funds||||||||||
||Loans to parishes
and retired clergy|||||||||
||Retired clergy general loans||||126,000||||126,000|
||Retired clergy equity linked loans||||417,400||~30,000||307,400|
||Total equals amount of loans received||||543,400|||(30,000)|513,400|
||from the Representative
Body||ofthe|||||||
||Church
in Wales|||||||||
||General C loans||||215,966|14,000||(51,500)|178,466|
||Loan to Citizen Church|||||525,020|||525,020|
||Loan to Llangasty
Retreat House||Trust||163,125||||163,125|
||||||922,491|539,020|~07,000||1,300,011|
||Split as follows:|||||||||
||Amount due within one year|(current asset)|||22,646||||40,447|
||Amount due affer one year (fixed||asset)||899,845||||1,339,564|
|ii Restricted Funds
Governor Loans|||||129,288|40,000|~46607||119,621|
||Split as follows:|||||||||
||Amount due within one year|(current asset)|||49,667||||25,667|
||Amount due after one year (fixed||asset)||79,621||||93,954|
||||||1,051,779|570,020|~737,167||1,490,632|
||Split as follows:|||||||||
||Amount due within one year|(current asset)|||72,313||||66,114|
||Amount due after one year (fixed||asset)||979,466||||1,433,518|
##
##
##
##
##
|Loans|are provided|are provided|to Governors ofdiocesan schools to assist with|to Governors ofdiocesan schools to assist with|to Governors ofdiocesan schools to assist with|to Governors ofdiocesan schools to assist with|to Governors ofdiocesan schools to assist with|the management|oftheir 15%liability to school|oftheir 15%liability to school|oftheir 15%liability to school|
|---|---|---|---|---|---|---|---|---|---|---|---|
|capital|projects, and for other large projects. No interest is charged|||||||on such loans, with the||length ofterm usually 5||
|or 10|years.|Loans|which are as||a result of 15%||liability
capital|projects with contribution||received|from Welsh|
|Government||are matched||with a deferred||income provision.||||||
|9.
DEBTORS||||||||||||
||||Unrestricted||Restricted||Total|Unrestricted|Restricted||Total|
||||Funds|||Funds|2020|Funds|Funds||2019|
|||||5||8|5|E||E|8|
|Parish share
Provisions|in arrears
135,846
~135845||||||135,846
~135848|54,290
~52252|||54,290
~52 252|
|||||||||2,038|||2,038|
|Loans due within one||||||||||||
|year (see note 15)||||40,447||25,667|66,114|22,646||49,667|72,313|
|Other debtors|(due|within||||||||||
|one year)||||39,872||158,080|197,952|52,639||89,561|142,200|
|Other debtors|(due|aRer||||||||||
|one year)||||||||||||
|||||80,319||183,747|264,066|77,323|139,228||216,551|
##
##
##
||Unrestricted|Unrestricted|Restricted|Endowment|Total|Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|
||Funds||Funds|Funds|2020|Funds|Funds|Funds|2019|
||||||8||||E|
|Parish Share||||||||||
|rabataa|189,298||||189,298|195,338|||195,338|
|Other creditors|882,437||208,511|200|1,091,148|841,188|50,697|230|892,115|
|Deferred||||||||||
|Income||||||||||
|Governor Loane|||16,000||18,000||16,000||16,000|
||1,8 1|35|224,511|200|1,296846|L036,526|66,697|230|1,103,453|
##
##
##
|||Balance at|||Balance at|
|---|---|---|---|---|---|
|||1 January|New|Utilisedl|31December|
|||2020|designations|released|2020|
|||6|6||6|
|Transformation|Fund|19,288||(1,016)|18,272|
|DBFVision Fund||3,123,716||(127,186)|2,996,530|
|Clergy School||20,000|20,000||40,000|
|Covid-19 Support Fund
Curate Housing
Support||90,510|293,543
137,130|~40,060|293,543
178,680|
|||3 253,514|400 623|177,162|3,527,025|
##
##
|rior year c|omp|arat|ive
-2019|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||||Balance at|||31|
|||||1 January|New|Utilisedl|December|
|||||2019|designations|released|2019|
|||||6|6|6|6|
|Transformation||Funds (DBF)||187,288||(168,000)|19,288|
|Community|Mental||Health Chaplaincy|52,914||(52,914)||
|DBFVision|Fund||||3,168,000|(44,284)|3,123,716|
|Clergy School
Curate Housing||Support||160000|20,000|~60400|20,000
00510|
|||||400,202|3,188,000|334,688|3,253,514|
##
##
##
|||Balance||||||||Balance at|
|---|---|---|---|---|---|---|---|---|---|---|
|||at 1||||||||31|
|||January|Incoming|Resources||Investment||||December|
|||2020|Resources|Expended||Gains/Losses||Transfers||2020|
||||E|E||E||6||E|
|Retired Clergy Fund||128,269|3,365|(580)||(4,135)||(3,365)||123,554|
|Miss DJN|Evans||||||||||
|Trust
Anonymous|Fund|42,748
40,311
211.328|1,267
789
5 421|(209)
~789|(1,556)
2447
~3,244||
|(1,267)
~709
~5,421||40,983
42758
207,295|
|The income|generated|by the funds|can be used to|further the aims|of|the charity. The|income is transferred|||to general|
|funds on its|receipt, with|the exception|ofthe Retired|Clergy Fund which|is transferred
to the|||Retired Clergy|Restricted fund.||
|Prior year comparative||—2019|||||||||
|||Balance|||||||Balance at||
|||at1||||||||31|
|||January|Incoming|Resources||Investment||Transfers|December||
|||2019
f|Resources
E|Expended
E|Gains/Losses
E|||||2019
E|
|Retired Clergy|||||||||||
|Fund||119,055|4,172|(644)||9,858||(4,1 72)||128,269|
|Miss DJN|Evans||||||||||
|Trust
Anonymous|Fund|39,280
35,275
193.610|1,571
1,004
6.747|(243)
~807||3,711
5036
18,605|(1,571)
~10D4
~6,747|||42,748
40,311
211,328|
##
|Total financial|Total financial|commitments|under non-cancellable|operating|leases are as follows as at31"December 2020.|leases are as follows as at31"December 2020.|
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||6||
|Operating|leases expiring:||||||
|Within one|year ofthe balance sheet date||||4,422|7,170|
|In two to five||years ofthe balance sheet date|||2074|6495|
||||||6,496|13,665|
##
##
##
##
##