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||||Page||
|---|---|---|---|---|
|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|
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||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|||
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|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|
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||||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|
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|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|
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|||||||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)|
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||||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|
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||||||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|
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|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|
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|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||
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|||||Investments
in
subsidiaries|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|
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|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|
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|||||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)|
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|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|
##
|22|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|||
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|||||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|