2020-12-31-accounts - The Welsh Baptist Union Corporation Limited

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Charity information
Trustees' Aanual Report
Statemeat ofdirectors'	responsibilities
Independent Auditors'	Report
Funds Statemeuts:-
Statement ofFinancial	Activities		15
Statement ofFinancial	Activities - Prior Year statement		16
Statement oftotal recognised		gains and losses	17
Movements in funds			18
Revenue Funds			18
Income and Expenditure	account		19
Sununary offunds			18
Balance sheet			20
Cash flow statement			22
Notes to the accounts			24

	Date appointed	Date resigned	Date resigned
Rev. P.M. Thomas
Mr. H.B.Tribe
Rev. I.C.Roberts
Rev. D.M. Owen
Mr. F.H. Maull
Mrs. Rosemmy Morgan		26/05/202	1
Mr. L.John
Mr, W.Davies
Rev. Judith A. Monis
Mr. Glyndwr S.Prideaux
Mr. David Evans
Rev. I.E.Jones
Rev. Susan J.Phillips
Miss Aldyth Williams	14/09/2020

fully detaile	d in the accounts, can be summarised as foll	ows:-
		2020	2019
Net income		(78,140)	42,998
Unrestricted purposes of	Revenue Funds available for the general the charity	787,137	860,774
Restricted Revenue Funds		572,943	577,446
Total Fuads		1,360,080	1,438,220

			Car&vnt year	Current year	Curreat year	Prior Year
		R,f	Unrestricted Funds	Restricted Funds	Total Fuads	Total Funds
			2020	2e20	2020	2019
			e
Income &Endowments	Crom:
Investments		A4	16,283	8,501	24,784	32,237
Other		A5	53,684		53,684	34,683
Total income		A	69,967	8,501	78,468	66,920
Expenditure on:
Charitable activities		B2	128,383	6,503	134,886	118,444
Total expeaditure		B	12tL383	6,503	134,886	118,444
Net gains on investments		B4	(15,221)	(6,501)	(21,722)	94,522
Net income for tbe year			(73,637)	(4,503)	(78,140)	42,998
Net income after transfers		A-B-C	(73,637)	(4,503)	(78,140)	42,998
Net movement in funds			(73,637)	(4,503)	(7$,140)	42&998
Reconciliation offuads:-
Total funds brought forward			860,774	577,446	1,438,220	1,395,222
Total funds carried forward			787,137	572,943	1,360,080	1,43$,220

paragraph 4.2ofth	e SOR	P
			Prior Year	Prior Year	Prior Year
		SORP Rcf	Unrestricted	Restricted	Total Funds
			Funds	Funds
			2019	2019	2019
					s
Income 08 Endowments	from:
Donations BtLegacies		Al
Investments		A4	19,499	12,738	32237
Other		A5	34,683		34,683
Total income			4 82	2 738
Expenditure on:
Charitable activities		B2	115,184	3,260	118,444
Total expenditore			115,184	3,260	118,444
Net gains on investments		B4	109,383	(14,861)	94,522
Net income for the year			48,381	(5,383)	42,998
Transfers between funds
Net income after transfers			48,381	(5,383)	137,520
Net movement in funds			48,381	(5383)	137,520
Reconciliation offunds:-
Total funds brought forward			848,046	547,176	1,395&222
Total funds carried forward			896,427	541,793	1,532,742

			2020	2019
Surplus for the year;-
Net excesscfincome over expenditure fram operations before tax			(56,418)	(51,524)
Realised gains on dispcssis ofsocial investments which are programme		telattxt
income front operations before taxin the	Statement ofFinancial Acti	rites	(56,418)	(51,524)
Ad&(deduct) non income and expenditnt	eitems:-
Versa)ised gains on investments			(21,722)	94,522
Nei Movement in fuads before taxatioa			(78,140)	42,998
Funds generated ia the year es shown on	Statemeut ofFinancial Acdvities		78,140	42tt98
The notes attached on pages 24to37	form an integral part of	these accounts.

The Welsh Baptist Union Corporation	The Welsh Baptist Union Corporation	Limited - Resources applied	in the year ended 31	December
2020towards	fixed assets for Charity	use:-
			2020	2019
			8	8
Funds generated	in the year as detailed in the SOFA		(78,140)	42,998
Net resources	available to fund charitable	activities	(78140	42,998

					Unrestrtcted	Restricted	Total	Last year
					Funds	Fuads	Funds	Total Fuads
					2020	2020	2020	2019
Accumulated	funds brought			forward	860,774	577,446	1,438,220	1,395,222
Recognised transfers	gains	and	losses	before	(73,637)	(4,503)	(78,140)	42,998
					787,137	572,943	1,360,080	1,438,220
Closing revenue		funds			787,137	572,943	1,360,080	1,438,220
Summary	of funds				Unrestricted	Restricted	Total	Last Year
					and	Funds	Funds	Total Funds
					Desigaated funds
					2020	2020	2020	2019
					s	t		s
Revenue accumulated			funds		787,137	572,943	1,360,080	1,438,220

						2020	2019
fucome
Investment income
Income from investments, other than		interest	receivable			24,784	32,237
Other operating income						53,684	34,683
Gross iacome in the year before exceptional			items			78,468	66,920
Gross income in the year including		exceptional		items		78,468	66
Expenditure
Charitable expenditure,	excluding depreciation		and amortisation			130,788	114,442
Governance costs						4,098	4,002
Realised losses on disposals ofsocial investments				which are programme	related
Total expenditure in	the year					134,886	118,444
lect iacome before tsx	in the flnsacisl year					(56,418)	(51,524)
Tax on surplus on ordinary activities
piet income after tax in	the financial	year				(56,418)	(51,524)
Retained surplus for	the financial year					(56,418)	(51,524)

			SORP
		Note	Ref	2020		2019
						8
Fixed assets			A
Tangible assets		7	A2	299,621		299,621
Investments held as	fixed assets	8	A4	622,276		643,998
Total lixed assets				921,897		943,6]9
Current assets
Debtors		9	B2	56,598	61,029
Cash at bank and in	hand		B4	465,035	459,387
Total current assets				521,633	520,416
Creditors: amounts	falling due within one
year		10	CI	(83,450)	(25,815)
Net current assets				438,183		494,601
The total net assets	ofthe charity			1,360,080		1,438,220
The total net assets	ofthe charity are funded	by the	fuads of	the charity, as follows:-
Restricted funds
Restricted Revenue Funds		13	D2	572,943	577,446
				572,943		577,446
Unrestricted Funds
Unrestricted Revenue Funds		13	D3	787,137	860,774
				787,137		860,774
Designated Funds
Total charity funds				1,360,080		1&438&220

					2020	2019
						g
Cash flows from operating activities
Net cash provided by operating activities as shown			below	A	(19,136)	(97,101)
Cash flows from investing activities
Other investment income, including	rents from	investments			24,784	32237
Proceeds from sales ofinvestments						220,000
Pumbsse ofinvestments						(3,889)
Net cash provided by investing	activities			B	24,784	248,348
Cash flows from financing acti	viries
Net cash provided by financing	activities
Overall cash provided by all activities			A+BE		5,648	151/47
Cash movements
Change in cash end cash equivalents	from activities		in the year
ended 31December 2020					5,648	151,247
Cash end cash equivalents at 1 January 2020					459,387	308,140
Change in cash and cash equivalents	due to exchange rate movements
Cash at bank and in hand less	overdrafts	at 31December			445.435	453353

Net income(expenditure) as shown in	the Statement ofFinancial Activities	(78,140)	42,998
ddj ast3n entofor:-
Write downs ofinvestments
Net unrealised losses on investment assets		21,722	(94,522)
Dividends, interest and rents from investments		(24,784)	(32,237)
Decrease in debtors		4,431	5,731
Increase in creditors, excluding loans Net cash provided by operating	activities	57,635 ~936	(19,071) ~0)
Analysis ofcash and cash equivalents
		2020	2019
Cash in hand at for the year ended 31	December 2020	465,035	459,387
Notice deposits - (less than 3months)
Total cash and cash equivalents		465035	459303

4	Net surplus before tax in	the ftua	ncial year
							2020	2019
	The net surplus before tax in the financial year is stated			afier charging:-
	Auditors' remuneration						4,098	4,002
5	Investmeut gains
	Uarealised gains///esses) and	)wiring	down ofcarrying	values
	Listed investments -Unrealised				(15,221)	(6,501)	(219722)	94,522
	Total unrealised gains/0osses)	etc			)	(9 )~(,7 2		9492
	Total realised and uarealised	gains				(,")	(
	t/arealised gains/(losses) and	writing	down ofcarrying	values
	Listed investments -Unreslised				109,383	(14,861)	94,522
	Total unrealised gains/(losses)	etc			109383	(14,861)	94,522
	Total realised and uarealised	gaias				9 ')	9

				Investments in subsidiaries	Listed investmeuts	Other Classes ofInvestment	Total
	Carryiag values ofinvestments
	At I January 2020			23	643,975		643,998
	Revaluation at 31December		2020		(21,722)		(21,722)
	At 31December 2020			23	622,253		622 276
	Analysis between fair	value	and historical cast
	Investments as above held at		fair value	23	622,253		622,276
9	Debtors
						2020	2019
						8
	Other debtors					56,598	61,029
10	Creditors: amounts	falling due within oue year				2020	2019
						8	f
	Accruals					492	480
	Oihcr creditors					82,958	25,335
						83,450	25,815
11	Income and Expenditure		account summary			2020	2019
	AtIJanuary 2020					1,343,698	1,395,222
	Surplus after tax for the	year				(56,418)	(51,524)
	At31December 2020					1,287,280	1,343,698

At 31December 2020		Unrestricted	Designated	Designated	Restricted	Total
		fends	funds		fends	Funds
Tangible Fixed Assets					299,621	299,621
Fixed assetinvestments		436,057			186,219	622,276
Current Assets		434,037			87,596	521,633
Current Liabilities		($2,958)			(492)	($3,450)
		787,136			572,944	1,360,080
At 1January 2020		Unrestricted	Designated		Restricted	Total
		lunds	funds		feeds	Funds
			f		f
Tangible Fixed Assets					299,621	299,621
Fixed asset investments		451,278			192,720	643,998
Current Assets		434,830			85,586	520,416
Current Liabilities		(25,333)			(480)	(25,815)
		860,775			577,447	1,438,220
Change in total funds over the	year as shown in Note 12, analysed by individual			funds
		Funds brought	Movement	In	Transfers	Funds carried
		forward from	funds in 2020		between fueds	forward lo
		2019			in 2020	2021
			See Note 14
			f
ftarestri cted and designated fandst-
Unrestricted Revenue Funds		860,774	(73,637)			787,137
Total unrestricted end designated	funds	860,774	(73,637)			787,137
Restricted faadst-
Retirement Homes Fund		577,446	(4,503)			572,943
Total restricted funds		577,446	(4,503)			572,943
Total chariiy funds		1,438,220	(7$,140)			1,360,080

				Other
		Income	Expeadtturv	Gains st	Mevemeat
				Losses	in funds
		2020	2020	2020	2020
iUnrcariared aud designated funds:-
Unrestricted	Revenue Funds	69,967	(128,383)	(15,221)	(73,637)
Restricted fands:-
Retirement	Homes Fund	8,501	(6,503)	(6,501)	(4,503)
		78,468	(134,886)	(21&722)	(78,140)

17	Investment	income	income
					Current year	Current year	Current year	Prior Year
					Unrestricted	Restricted	Total Funds	Total Funds
					Funds	Funds
					2020	2020	2020	2019
	Other Investment		Income		16,283	8,501	24,784	32,237
	Total investment		income	A4	16,283	8,501	24&784	32&237
	All the income in		the prior year wss unrestricted.
	Investment	income - Prior Year analysis
					Unrestricted Funds	Restricted Funds	Total Funds
	Prior Year				9 99	73&	3
i8	Other income		and gains
					Current year	Current year	Current year	Prior Year
					Unrestricted	Restricted	TotalFunds	Total Funds
	Currentyear				Funds	Funds
					2020	2020	2020	2019
	Sundry other	income			36,550		36450	34,429
	Procmls Rom closed chapels				17,134		17,134	254
	Total other	income		A5	53,684		53,684	34,683

			Current year	Current year	Current year	Prior Year
			Unrestricted	Restricted	Tutst Funds	Total Funds
Current Year			Funds	Funds
			2020	2020	2020	2019
Travel and Subsistence - Charitable
Activities			202		202	1,143
Other donations	and subscriptions		69,388		69388	66,464
Total direct spending		B2a	69,590		69,590	67,607

20	Support costs for charitable	Support costs for charitable	Support costs for charitable	activities	activities
						Current year	Current	year	Current year	Prior Year
						Unre&tricted	Restricted		Total Funds	Total Funds
	Current Year					Funds	Funds
						2020	2020		2020	2019
						t.				s
	Employee costs not included in direct costs
	Travel and subsistence	- staff				289			289	1,017
	Co-ordinator funding					40,834			40,834	26408
	Premises Expenses
	Rates and water charges						2,348		2@48	637
	Premises repairs, renewals maintenance		and				1.538		1)538	431
	Property insurance							789	789	685
	Rental Properly expenses					3,160			3&160	3,940
	Administrative overheads
	Sundry expenses					307			307	1,030
	General administmtion	costs					1,336		1436	1&313
	Professional feespaid to advisors				other than the auditor orexaminer
	Legal fees					9,876			9,876	10,829
	Other legal and professional							492	492	480
	Financial costs
	Bank charges					229			229	165
	Support costs before reallocation					54,695	6,503		61,198	46,835
	Total support costs - Current			Year		54,695	6,503		61,198	46,835
21	Other Expenditure -Governance				costs
						Current year	Current year		Current year	Prior Year
						Unrestricted	Restricted		Total Funds	Total Funds
	Current Year					Funds	Funds
						2020	2020		2020	2019
	Auditor's fees					4,098			4,098	4)002
	Total Guvernaace costs					4,098			4,098	4,002

Total Charitable	expenditure
			Current year	Current year	Current year	Prior	Year
			Unrestricted	Restricted	Total Funds	Total Funds
Current Year			Funds	Funds
			2020	2020	2929	2019
					s
Total direct spending		B2a	69,590		69,590		67,607
Total support costs		B2d	54,695	6,503	61,198		46,835
Total Governance	costs	B2e	4,09$		4,098		4,002
Total charitable expenditure		B2	128/83	6,503	134,886	118,444
			Prior Year	Prior Year	Prior Year
			Unrestricted	Restricted	Total Funds
Prior Year			Funds	Funds
			2919	2019	2019
Total direct spending		B2a	67,607		67,607
Total support costs		B2d	43,575	3,260	46,835
Total Governance	costs	B2e	4,002		4,002
Total charitable expenditure		B2	115,184	3,260	118,444

				SOFA ref	SOFA ref			2020	2019
	Activity
	Summury ofTotal Income, including			tbe uems	above
	Investment income			A4				24,784	32,237
	Other income			A5				53,684	34,683
	Total iacome as shown ia the SOFA			A				78,468	66,920
	Categories efincome
	Income from exchange transactions							78,468	66,920
24	Analysis ofcharitable	expenditure		by activity
	Activity
				Direct costs		Support	Grant
						costs	funding of	Total	Total
							activities
				2020		2020	2020	2020	2019
	Iteligious acrivities
	Direct costs				69,590			69490	67,607
	Employee costs not included		in direct costs			41,123		41,123	27,325
	Premises expenses					7,835		7,835	5,693
	Administrative overheads					1,643		1,643	15,113
	Professional fees					10,368		10368	11,309
	Financial costs					229		229	165
	Total Religious activities				69,590	61,198		130,78S	127,212
	Summary ofcharitable costs by ectivity
				Dtrect	costs	Support	Grant
						costs	funding of	Total	Total
							activities
				2020		2020	2020	2020	2019
								0
	Total Religious activities				69,590	61,198		130,788	114,442
	Total Governance costs as detailed in Note					4,098		4,098	4,002
	Total charitable expenditure				69,590	65,296		134,8S6	118,444

Activity analysis of	Income and expenditure	Income and expenditure	for tbe for the year ended	for tbe for the year ended	31December 2020	31December 2020
			Governance	Finance	Human	Other	Total
Acuvlty					Resources	Overheads
Religious activities			4,098	229	41,123	19,846	65,296
25 Analysis ofnon	charitable	expenditure	by activity
Activity
Religious activities
						Governance	Governance
Governance caus						costs	costs
						2020	2019
						f
Other Expenditure	-Governance	costs as detailed in Note 21				4,098	4,002